Corporate Governance following the Slovenian Transition: From Success Story to Failed Case

Matej Lahovnik

Journal of Balkan and Near Eastern Studies, 2019, vol. 21, issue 5, 613-623

Abstract: The most recent world economic crisis revealed serious weaknesses in Slovenia’s gradual approach to the transition. The Slovenian transition model was hailed as a success in the 1990s but the last decade has become seen as a failure. The country’s economy has suffered more than other comparable post-transition economies from an inefficient corporate governance system. The paper presents the failed transformation of Slovenia’s corporate governance process and its consequences. The ownership structures emerging from the various privatization programmes in Slovenia have not led to ownership being concentrated in the hands of strategic owners able to provide the necessary resources to finance the sustainable economic development of companies. Companies with external strategic owners outperform companies with internal or state owners. The article argues that effective corporate governance is essential to a firm’s performance.

Date: 2019
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DOI: 10.1080/19448953.2018.1506290

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