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Minggu, 01 April 2012

CORPORATE GOVERNANCE PROBLEMS IN TRANSITION ECONOMIES

by : Verica Babic

1. Introduction
Corporate governance has become a topic of a worldwide political debate. A series of events over the last two decades has placed corporate governance issues - including the power and responsibilities of boards of directors, the rules governing takeovers, the role and influence of institutional investors, and the compensation of chief executives - as a top concern for both the international business community and international financial institutions.
Research in the area of corporate governance spans multiple disciplines, including finance, strategic management, sociology and political science. The state of current knowledge is such that we need to have an interdisciplinary approach to studying the problem of corporate governance. The study of corporate governance can involve the problems of corporate decision making, strategic management, leadership, organization theory, and the sociology of elites. It can also be related to a whole range of other broader subjects, including macroeconomic policy, the level of market competition and political science. The framework of corporate governance also depends on the legal and regulatory environment. In addition, the factors of corporate responsibility and ethics are significant aspects of the problem of corporate governance. Thus one must first recognize the complexity and interdisciplinary nature of corporate governance before attempting to research its problems in a transition economy.
In developed market economies, a system of corporate governance has been . . .... (baca_selengkapnya)

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