Corporate Governance in State-owned Enterprises – Relevant European standards

Dedeić, Predrag and Gasmi, Gordana (2015) Corporate Governance in State-owned Enterprises – Relevant European standards. Strani pravni život, 59 (4). pp. 43-50. ISSN 0039-2138

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Abstract

Corporate governance standards are confirmed in corporate world, slightly modified applied in state-owned entities in developed European countries (OECD countries). Corporate scandals, among other issues, have led to introduction of corporate governance standards in capital market companies. Numerous abuses and inefficiencies in public enterprises management and other state-owned entities have urged for application of adequate principles as a guarantee of a higher level of accountability and efficiency. New rules for establishment of structures and processes in open joint-stock companies primarily aims at provision of long-term stockholders’ interests (investors), as well as other company related stakeholders. This paper is focused on the analysis of those international standards and good governance practices for that kind of enterprise and possibilities for applying rules providing for transparency, independence and accountability, professionalism and efficiency, as well as a conflict of interests resolution in our legal system.

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