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Corporate governance involves a complex process of linking the management and owners with other stakeholders within and outside the company. The essence of the process consists of clearly defined rights, rules and procedures in order to improve performance of companies and national economy as a whole. The development of good corporate governance is particularly important for the countries of Central and Southeastern Europe. These countries emerge from the final stage of the transformation of centrallyplanned to a market economy and still do not have developed system of corporate governance which would boost the efficiency of the national economy. The paper discusses specifics of the these economies, from the initial stages of corporatization, when initial need for the development of corporate governance occurs, up to the current level of implementation of the corporatization

Development of corporate governance in European transition countries