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Governance and Enterprise Restructuring - the case of Macedonia

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  • Apostolov, Mico

Abstract

This paper is a case study of the Republic of Macedonia (Southeast Europe), which focuses on examining governance and enterprise restructuring. Governance and enterprise restructuring is already defined indicator in EBRD’s studies and transition reports, measuring the effective corporate governance and corporate control exercised through domestic financial institutions and markets, fostering market-driven restructuring. As of the beginning of the transition process, governance and enterprise restructuring remains in the center, as essential pillar, that moves forward the society towards developed market economy. The data used in this article are analyzed with an econometric regression model, which as employed in this study examines the interrelationships between governance and enterprise restructuring and set of policies that influence the governance patterns.

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File URL: http://mpra.ub.uni-muenchen.de/29098/1/MPRA_paper_29098.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 29098.

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Date of creation: 2011
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Handle: RePEc:pra:mprapa:29098
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Keywords: governance; corporate governance; management strategy; transition; Southeast Europe; Macedonia;

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Find related papers by JEL classification:
  • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
  • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
  • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
  • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
  • G30 - Financial Economics - - Corporate Finance and Governance - - - General
  • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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  1. Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," NBER Working Papers 5661, National Bureau of Economic Research, Inc.
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  9. Yadong Luo & Mike W Peng, 1999. "Learning to Compete in a Transition Economy: Experience, Environment, and Performance," Journal of International Business Studies, Palgrave Macmillan, vol. 30(2), pages 269-295, June.
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  11. 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.
  12. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 1998. "Corporate Ownership Around the World," Harvard Institute of Economic Research Working Papers 1840, Harvard - Institute of Economic Research.
  13. Apostolov, Mico, 2010. "Governance and Enterprise Restructuring in Southeast Europe," MPRA Paper 27634, University Library of Munich, Germany.
  14. Apostolov, Mico, 2010. "Corporate Governance in Macedonia – micro and macro analysis," MPRA Paper 27914, University Library of Munich, Germany.
  15. Klaus Uhlenbruck & Klaus E. Meyer & Michael A. Hitt, 2003. "Organizational Transformation in Transition Economies: Resource-based and Organizational Learning Perspectives," Journal of Management Studies, Wiley Blackwell, vol. 40(2), pages 257-282, 03.
  16. Michael Weisbach, 2010. "Corporate Governance," NBER Books, National Bureau of Economic Research, Inc, number weis10-1.
  17. Aggarwal, Raj & Goodell, John W., 2010. "Financial markets versus institutions in European countries: Influence of culture and other national characteristics," International Business Review, Elsevier, vol. 19(5), pages 502-520, October.
  18. Gouret, Fabian, 2007. "Privatization and output behavior during the transition: Methods matter!," Journal of Comparative Economics, Elsevier, vol. 35(1), pages 3-34, March.
  19. Claessens, Stijn & Djankov, Simeon & Lang, Larry H. P., 2000. "The separation of ownership and control in East Asian Corporations," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 81-112.
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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.

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