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Governance and Enterprise Restructuring in Southeast Europe – gross domestic product and foreign direct investments

Author

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  • Apostolov, Mico

Abstract

This paper is to be concerned with the corporate governance mechanisms’ influence on governance and enterprise restructuring in Southeast Europe (Western Balkans) transition economies: Albania, Bosnia and Herzegovina, Croatia, Macedonia, Montenegro and Serbia. The institutional changes and corporate governance mechanisms in national governance systems are essentially important for the transition process, thus there are specificities of corporate governance mechanisms in transition economies that indicate the progress towards market based economy. Most notable are: the market-based corporate governance mechanisms, management-structure based corporate governance mechanisms, ownership structure, boards of directors, management compensations schemes, that is, management structures and financial structures. Corporate governance mechanisms are seen through governance and enterprise restructuring indicator which has already established link to gross domestic product and foreign direct investments in the literature. The data set is of Southeast European economies, and will be examined the interrelationships between governance and enterprise restructuring, set of policies that influence the governance patterns, gross domestic product and foreign direct investments.

Suggested Citation

  • 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.
  • Handle: RePEc:pra:mprapa:29102
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    File URL: https://mpra.ub.uni-muenchen.de/29102/1/MPRA_paper_29102.pdf
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    File URL: https://mpra.ub.uni-muenchen.de/30175/2/MPRA_paper_30175.pdf
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    References listed on IDEAS

    as
    1. repec:hrv:faseco:30728046 is not listed on IDEAS
    2. Michael Weisbach, 2010. "Corporate Governance," NBER Books, National Bureau of Economic Research, Inc, number weis10-1.
    3. Son Le & Mark Kroll & Bruce Walters, 2010. "The impact of institutional changes on corporate governance mechanisms in transition economies," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 14(2), pages 91-114, May.
    4. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    5. Rafael La Porta & Florencio Lopez-De-Silanes & Andrei Shleifer, 1999. "Corporate Ownership Around the World," Journal of Finance, American Finance Association, vol. 54(2), pages 471-517, April.
    6. Apostolov, Mico, 2011. "Governance and Enterprise Restructuring - the case of Macedonia," MPRA Paper 29098, University Library of Munich, Germany.
    7. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-325, June.
    8. repec:hrv:faseco:30747162 is not listed on IDEAS
    9. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
    10. Apostolov, Mico, 2010. "Corporate Governance in Macedonia – micro and macro analysis," MPRA Paper 27914, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Mico Apostolov, 2010. "Attributes To Corporate Governance And Enterprise Restructuring In The Macedonian Economy," Journal Articles, Center For Economic Analyses, pages 5-16, December.
    2. Apostolov, Mico, 2011. "Governance and Enterprise Restructuring - the case of Macedonia," MPRA Paper 29098, University Library of Munich, Germany.
    3. Apostolov Mico, 2016. "Foreign Direct Investments Induced Innovation? A Case Study − Macedonia," Comparative Economic Research, De Gruyter Open, vol. 19(1), pages 5-25, March.
    4. Mico Apostolov, 2016. "Cobb–Douglas production function on FDI in Southeast Europe," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 5(1), pages 1-28, December.
    5. repec:kap:jinten:v:15:y:2017:i:4:d:10.1007_s10843-017-0205-4 is not listed on IDEAS
    6. 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.
    7. 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.

    More about this item

    Keywords

    governance; enterprise restructuring; corporate governance; transition; Southeast Europe;

    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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