Corporate Governance Transformation in Transition Economies: Evidence from Bulgaria

Evgeni Peev

Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, 2001, vol. 70, issue 2, 289-300

Abstract: The paper presents study of corporate governance evolution in Bulgaria and its convergence to EU structures. The author discusses the traditional approach to separation of ownership and control in transition economies and modern ideas about the need for changing corporate governance paradigm. The study analyses main ownership and control structures in the Bulgarian industry and specific property-rights structures in corporatized state-owned firms, privatized firms and established de novo private enterprises. The research reveals the main constraints on corporate governance convergence to European structures in Bulgaria as the emerging enterprise sector duality and inefficient property-rights structures based on the state-owned firms transformation. The study analyses different paths for corporate governance and country development in the short run.

Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:diw:diwvjh:70-20-17

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Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research is currently edited by Marcel Fratzscher, Martin Gornig, Claudia Kemfert, Alexander Kritikos, Stefan Liebig, Lukas Menkhoff, Dorothea Schäfer, Bernhard Emunds, Thomas Gehrig, Horst Gischer, Hans-Helmut Kotz, Claus Michelsen, Doris Neuberger, Andreas Pfingsten and Andreas Stephan

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