Corporate Accountability in Selected Western Balkan Countries

Stevanović, Slavica and Minović, Jelena (2018) Corporate Accountability in Selected Western Balkan Countries. In: Western Balkans Economies in EU Integration : past, present and future. CEMAFI International Association, Nica, pp. 241-254. ISBN 979-10-96557-18-9

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Abstract

The corporate accountability of selected countries studying is based on the corporate boards efficacy and the protection of minority shareholders. In this paper, the aim is reviewing changes in corporate accountability in selected Western Balkan (WB) countries. The data are used on an annual basis, and it is taken from the World Economic Forum (WEF). The analysis is done for the period 2008-2018, and for selected Western Balkan countries. Our results show that Montenegro and Macedonia have the best average score for all investigated indicators, but Serbia has the worst average score. Additionally, the highest average value of Efficacy of corporate boards indicator is observed in 2016-2017, while the lowest average value of this indicator is observed in 2011-2012. Contrary, Protection of minority shareholders’ interests indicator had the highest average value in 2008-09, while it’s the lowest average value was in 2017-2018.

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