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Corporate Governance in Macedonia – micro and macro analysis

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  • Apostolov, Mico

Abstract

The corporate governance issue in Macedonian companies has been brought forward during the recent few years. The main reason is the fact that the privatization process completion of socially-owned and partly state-owned enterprises has put emphasis to the challenge to reasonably regulate relationships established within companies on one hand, and relationships between companies and larger society on the other. All market economies, including those with longest tradition, have faced this kind of challenge so far. Corporate governance becomes an increasingly important issue for the Macedonian economy. It is being taken with greater consideration by the companies, regulators and government. The strong wave of privatization programs from mid-90’ have resulted in an altered business environment, and new legal and institutional frameworks have been established. Indeed, corporate governance contributes to sustainable economic development by enhancing the performance of companies and increasing their access to external sources of capital. In this paper we will make attempt to analyze the predominant factors that create prolific corporate governance environment in two terms; a) micro level and macro level.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 27914.

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Date of creation: Nov 2010
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Handle: RePEc:pra:mprapa:27914

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Keywords: governance; corporate governance; management strategy; transition; Southeast Europe; Macedonia;

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Cited by:
  1. Apostolov, Mico, 2011. "Governance and Enterprise Restructuring in Southeast Europe – gross domestic product and foreign direct investments," MPRA Paper 29102, University Library of Munich, Germany.
  2. Apostolov, Mico, 2011. "Attributes to corporate governance and enterprise restructuring in the Macedonian economy," MPRA Paper 29101, University Library of Munich, Germany.
  3. Mico Apostolov, 2011. "Governance and Enterprise Restructuring: The Case of Macedonia," Transition Studies Review, Springer, vol. 18(2), pages 299-309, December.

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