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Polish corporate governance – the case of small and medium sized companies


  • Maria Aluchna
  • Izabela Koladkiewicz


This paper identifies the corporate governance characteristics of small and medium companies in Poland. Since Polish SME derive from various origins and deliver different characteristics, therefore three main forms of companies are analysed. The research identifies the corporate governance characteristic for medium companies listed on Warsaw Stock Exchange and the alternative market of WSE called NewConnect, the privately held companies and family businesses. Although all these three forms differ in terms of main characteristics, size and regulatory framework, they seem to share the general challenges of their governance structure referring mostly of significant ownership concentration, charismatic founder-manager (entrepreneurial, leader), passive board and lack of or very weak succession policies.

Suggested Citation

  • Maria Aluchna & Izabela Koladkiewicz, 2010. "Polish corporate governance – the case of small and medium sized companies," International Journal of Banking, Accounting and Finance, Inderscience Enterprises Ltd, vol. 2(3), pages 218-235.
  • Handle: RePEc:ids:injbaf:v:2:y:2010:i:3:p:218-235

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    Cited by:

    1. Dorota Dobija, 2015. "Exploring audit committee practices: oversight of financial reporting and external auditors in Poland," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(1), pages 113-143, February.


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