During the last two decades Greece has emerged as a key regional player and one of the largest investors in the Central and Eastern and South-Eastern European Countries (CESEE) [Bastian, J. (2004). Knowing your way in the Balkans: Greek foreign direct investment in Southeast Europe. Southeast...

In this paper we argue that the development of equity culture in the CEECs is dependent on the presence of a combination of factors stemming from the external institutional and internal managerial environments of the firm. We adopt an inductive approach by firstly analysing two levels of data...