engleski

Convergence of corporate governance practice in Europe : evidence from SEE countries

Corporate governance is one of the most important themes of debate in today´s modern business world. Understanding the impact of governance principles on business efficiency and competitiveness is of crucial importance. Hence, harmonization of the rules relating to company law and corporate governance, as well as accounting and auditing, is essential for creating a single market for financial services and products – one of the key elements of EU agenda. The focus of this paper is to give an insight to convergence of corporate governance practice in selected countries of SEE (Bosnia and Herzegovina, Croatia, Serbia and Montenegro) with respect to the EU action plan. In order to determine course of development of corporate governance institutions in selected countries we have observed specific corporate governance codes, as indicators of development of corporate governance practice. By understanding convergence processes and the level of convergence it will be possible to recommend a trajectory for future development of such kind of legal regulative in observed countries and diminish the gap between current state of affairs and EU practices.

corporate governance, SEE, convergence, EU

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