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Corporate Governance in Macedonia – micro and macro analysis

Mico Apostolov ()

MPRA Paper from University Library of Munich, Germany

Abstract: The corporate governance issue in Macedonian companies has been brought forward during the recent few years. The main reason is the fact that the privatization process completion of socially-owned and partly state-owned enterprises has put emphasis to the challenge to reasonably regulate relationships established within companies on one hand, and relationships between companies and larger society on the other. All market economies, including those with longest tradition, have faced this kind of challenge so far. Corporate governance becomes an increasingly important issue for the Macedonian economy. It is being taken with greater consideration by the companies, regulators and government. The strong wave of privatization programs from mid-90’ have resulted in an altered business environment, and new legal and institutional frameworks have been established. Indeed, corporate governance contributes to sustainable economic development by enhancing the performance of companies and increasing their access to external sources of capital. In this paper we will make attempt to analyze the predominant factors that create prolific corporate governance environment in two terms; a) micro level and macro level.

Keywords: governance; corporate governance; management strategy; transition; Southeast Europe; Macedonia (search for similar items in EconPapers)
JEL-codes: O11 G38 G32 P31 G30 L33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-tra
Date: 2010-11
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http://mpra.ub.uni-muenchen.de/29882/ revised version (application/pdf)

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