Corporate Governance: a South-Eastern European perspective

Ana Bobirca () and Paul-Gabriel Miclaus
Authors registered in the RePEc Author Service: Paul Gabriel Miclăuș ()

MPRA Paper from University Library of Munich, Germany

Abstract: The purpose of the article is to illustrate the main characteristics of the corporate governance challenge facing the countries of South-Eastern Europe (SEE) and to subsequently determine and assess the extensiveness and effectiveness of corporate governance regulation in these countries. Therefore, we start with an overview on the subject of the key problems of corporate governance in transition. We then address the issue of corporate governance measurement for SEE countries. To this end, we include a review of the methodological framework for determining both the extensiveness and the effectiveness of corporate governance legislation, as defined by the EBRD and a discussion on aspects related to corporate governance development, the quality of corporate governance codes and of the “law on the books”. We then focus on the actual analysis of legal institutions effectiveness and provide a measure of corporate governance in Romania and other SEE emerging markets. The paper concludes by emphasizing the relationship between legal change and the development of financial markets in the SEE region.

Keywords: corporate governance; South-Eastern Europe; transition; extensiveness; effectiveness (search for similar items in EconPapers)
JEL-codes: G34 G38 K22 P31 (search for similar items in EconPapers)
Date: 2007-01
New Economics Papers: this item is included in nep-bec, nep-his, nep-reg and nep-tra
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