IDEAS home Printed from
   My bibliography  Save this article

Governance and enterprise restructuring in Southeast Europe


  • Mico Apostolov


Purpose - The purpose of this paper is examine governance and enterprise restructuring in Southeast Europe (SEE) (Western Balkans) transition economies. International organizations classify the following countries in SEE (Western Balkans): Albania, Bosnia and Herzegovina, Croatia, Macedonia, Montenegro and Serbia. Design/methodology/approach - The European Bank for Reconstruction and Development (EBRD) has governance and enterprise restructuring as a basic indicator of economic transition and defines it as effective corporate governance and corporate control exercised through domestic financial institutions and markets, fostering market-driven restructuring. The corporate governance is most often defined in terms of the roles, responsibilities, and interactions of top management and the board of directors. Using data of SEE economies, the interrelationships between governance and enterprise restructuring and set of policies that influence the governance patterns will be examined. Findings - Due to the analysis of the first assumption where a relation was made between governance and enterprise restructuring and imposed set of policies, the results have shown that there are mixed outcomes. The second hypothesis analyzed the importance and progress of corporate governance and enterprise restructuring. Originality/value - The paper shows that the overall outcome of SEE countries is mixed, as there are significant improvements in some countries and noteworthy lags in others. Indeed, needed considerable improvement is needed in corporate governance, institution-building controlling agency problems and in imposing already adopted regulation; as well as adopting new ways of enterprise restructuring policies within existing policies of overall transition economy restructuring.

Suggested Citation

  • Mico Apostolov, 2013. "Governance and enterprise restructuring in Southeast Europe," International Journal of Social Economics, Emerald Group Publishing, vol. 40(8), pages 680-691, June.
  • Handle: RePEc:eme:ijsepp:v:40:y:2013:i:8:p:680-691

    Download full text from publisher

    File URL:
    Download Restriction: Access to full text is restricted to subscribers

    As the access to this document is restricted, you may want to search for a different version of it.


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Mico Apostolov & Dusko Josevski, 2016. "Aggregate Demand–Inflation Adjustment Model Applied to Southeast European Economies," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 5(1), pages 141-157.
    2. Mico APOSTOLOV, 2016. "Ownership And Control Structures A Case Study," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 8(2), pages 23-37, June.
    3. Mico Apostolov, 2015. "Foreign Capital, GDP and Effects Affairs of Macedonia," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 1(3), pages 65-78, September.
    4. 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.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:ijsepp:v:40:y:2013:i:8:p:680-691. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Virginia Chapman). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.