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Corporate Governance Transformation in Transition Economies: Evidence from Bulgaria

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  • Evgeni Peev

Abstract

The paper presents study of corporate governance evolution in Bulgaria and its convergence to EU structures. The author discusses the traditional approach to separation of ownership and control in transition economies and modern ideas about the need for changing corporate governance paradigm. The study analyses main ownership and control structures in the Bulgarian industry and specific property-rights structures in corporatized state-owned firms, privatized firms and established de novo private enterprises. The research reveals the main constraints on corporate governance convergence to European structures in Bulgaria as the emerging enterprise sector duality and inefficient property-rights structures based on the state-owned firms transformation. The study analyses different paths for corporate governance and country development in the short run.

Suggested Citation

  • Evgeni Peev, 2001. "Corporate Governance Transformation in Transition Economies: Evidence from Bulgaria," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 70(2), pages 289-300.
    • Handle: RePEc:diw:diwvjh:70-20-17
    DOI: 10.3790/vjh.70.2.289
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    References listed on IDEAS

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    Cited by:

    1. Sasho Arsov & Aleksandar Naumoski, 2016. "Determinants of capital structure: An empirical study of companies from selected post-transition economies," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 34(1), pages 119-146.

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