The general problem in emerging economies is that there is no well-defined system that supports a balanced relationship between management and other stakeholders of the firm. This paper describes how emerging systems of corporate governance in the Baltic States have interacted with economic...

This article investigates the catalyst effect of industrial cluster formation on innovation propensity using as a basis small and medium enterprises (SMEs) located in two regions of transformation and structural change: Brandenburg in Eastern Germany (the former German Democratic Republic) and...

The article examines the role of foreign direct investment (FDI) in a transition economy. The analysis of structure and dynamics of FDI into Estonia and outflow of FDI from the country demonstrates the important role of the FDI in capital formation of companies. The reason of Estonian firms...