Economic Themes (2009) 47 (4) 1, 1-31
Dragana Radenkovic-Jocic
Abstract: Company laws in the Region of SEE do not have a long history, due to they all have been enacted after the fall of the Berlin Wall. The fact that almost all Central-Eastern European countries passed some sort of corporate governance codes doesn’t change this reality. In Serbia the codification of commercial law started under difficult professional circumstances. Legal system had shown up contradictory trends of development despite the indisputably positive tendencies. Imperative for CEE countries definitely was to implement known company law principles in own acts. In that field the impact of European Union was very available. Corporate governance as the main part of company law plays very important role in management organization of every business association. There are a few legal acts which define some elements of corporate governance, especially regarding the role of main actors – shareholders and directors. Balance of power in a company based on three critical actors: shareholders, management and the board of directors. The negotiations about joining the EU determine, in fact, more or less established procedures, standards and other preconditions that a candidate country has to fulfill in order to join it, including all elements on company rule, as well as the companies’ competitiveness.
Keywords: company; shareholder; director; liability; competition
LEGAL RELATION BETWEEN THE SHAREHOLDERS AND THE MANAGERS IN SOUTH-EASTERN EUROPEAN COUNTRIES AS A COMPETITIVENESS CONDITIONS
Dragana Radenkovic-Jocic
Abstract: Company laws in the Region of SEE do not have a long history, due to they all have been enacted after the fall of the Berlin Wall. The fact that almost all Central-Eastern European countries passed some sort of corporate governance codes doesn’t change this reality. In Serbia the codification of commercial law started under difficult professional circumstances. Legal system had shown up contradictory trends of development despite the indisputably positive tendencies. Imperative for CEE countries definitely was to implement known company law principles in own acts. In that field the impact of European Union was very available. Corporate governance as the main part of company law plays very important role in management organization of every business association. There are a few legal acts which define some elements of corporate governance, especially regarding the role of main actors – shareholders and directors. Balance of power in a company based on three critical actors: shareholders, management and the board of directors. The negotiations about joining the EU determine, in fact, more or less established procedures, standards and other preconditions that a candidate country has to fulfill in order to join it, including all elements on company rule, as well as the companies’ competitiveness.
Keywords: company; shareholder; director; liability; competition
