This paper reviews the impact of environmental variables on firms’ capital structure throughout the recent financial crises (dot.com bubble, subprime crisis, and European sovereign debt crisis). For the first time, the sovereign general gross debt and current account balance appear in the...

Building on the pecking order theory of Myers and Majluf, (1984) and Myers (1984), the present study empirically analyses the association between the board of directors’ composition and firm financing policies. Particularly, the fraction of independent directors on the board, the fraction of...

In this research we evaluate how corporate ownership around the world is defined and which variables, related to a firm’s characteristics and the countries’ infrastructures, influences this. We find that there are a small number of countries where firms present a lower percentage of block...

The research in this paper is to be focused on examining governance and enterprise restructuring in Southeast Europe (Western Balkans) transition economies. International organizations classify the following countries in Southeast Europe (Western Balkans): Albania, Bosnia and Herzegovina,...

The corporate governance issue in Macedonian companies has been brought forward during the recent few years. The main reason is the fact that the privatization process completion of socially-owned and partly state-owned enterprises has put emphasis to the challenge to reasonably regulate...

This paper is to be concerned with the corporate governance mechanisms’ influence on governance and enterprise restructuring in Southeast Europe (Western Balkans) transition economies: Albania, Bosnia and Herzegovina, Croatia, Macedonia, Montenegro and Serbia. The institutional changes and...

This paper is a case study of the Republic of Macedonia (Southeast Europe), which focuses on examining governance and enterprise restructuring. Governance and enterprise restructuring is already defined indicator in EBRD’s studies and transition reports, measuring the effective corporate...

In this research paper the main forces that influence different kinds of corporate control of the largest firms by country are evaluated. Firms controlled by individuals, Government, miscellaneous investors or widely held, exist under different circumstances. While firms controlled by...

This essay analyses the relationship between corporate governance practices and Chief Executive Officer (CEO) wages from a sample of Portuguese listed companies over the period from 2002-2011. The relationship between CEO total compensation and shareholders return, firm characteristics, CEO...

Corporate governance is most often defined in terms of the roles, responsibilities, and interactions of top management and the board of directors. Using information on Macedonia, obtained through various sources, this study is an attempt on determining some of the factors that influence the...