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...

The United States Agency for International Development (USAID) initiated a regional accounting certification program in the Russian language several years ago. It started in Central Asia and spread to Ukraine and a few other former Soviet republics several years later. Headquarters for the...

The United States Agency for International Development (USAID) initiated a regional accounting certification program in the Russian language several years ago. It started in Central Asia and spread to Russia and a few other former Soviet republics several years later. Headquarters for the...

This paper provides evidence on how executive compensation relates to firm performance in listed firms in China. Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on executive compensation, ownership structure and board...

The quality of China's capital markets cannot be improved without raising the quality of its listed companies. One problem with China's capital markets is that frequent scandals involving listed companies have created market uncertainty in the eyes of investors. This paper offers an explanation...

This study examines the measurement of the market reaction (MB ratio is a proxy for shareholder value) to fundamental financial information. The issue of measuring the stock market reaction to fundamental information stems from the fact that there is a strong need to focus on those fundamentals...

Purpose– This paper is a case study of the Republic of Macedonia and focuses on the development of governance and enterprise restructuring. Thus, country's effective corporate governance and corporate control, which impact enterprise restructuring, are essential in the analysis of...

Purpose– The purpose of this paper is examine governance and enterprise restructuring in Southeast Europe (SEE) (Western Balkans) transition economies. International organizations classify the following countries in SEE (Western Balkans): Albania, Bosnia and Herzegovina, Croatia, Macedonia,...

We examine the effects of that government policy change and assess how it has impacted firm innovation. To address potential endogeneity concerns, we use the policy change as a quasi-natural experiment and explain the exogenously caused variations. We also use a “difference-in-differences”...