2026-05-10T08:04:59.741Z http://ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai

ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai:2:2995 2015-05-13T09:23:50Z 2

Functional convergence of corporate governance system in function of chrysies effect mitigation 2013 http://ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai/record/2/2995 http://www.fmt.ba/index.php?option=com_content&view=article&id=321&Itemid=78 Dž. Kulović F. Đoković In theory of corporate governance, due to the specific conditions of business, practice has differentiated several systems of corporate governance: Anglo – American, continental – German, Swiss, French, Italian, Japanese – eastern and entrepreneurial – transition. All listed systems of corporate governance have a lot of common elements than a glimpse of their key features can be inferred, especially in combination of important investors and in the legal framework which has key role in the protection of their rights. Development of financial marketing and institutions leads to convergence of the system of corporate governance. Differences among models are the results of way to demonstrate regulation of the financial market and function of the institutions that are directly related to the organization of ownership and control in the corporations. The important thing for countries in transition whose system of corporate governance is founded on entrepreneurial transition model and whose business environment is not organized is a need to improve corporate governance and establishment of functional convergence. Functional convergence occurs when an individual investor or corporation is continuously in service of improvement of the corporate governance level, despite the lack of appropriate and supportive legal framework. It is becoming attractive to explore the level of improvement of the system of corporate governance in the countries in transition due to the fact that entrepreneurial – transition model is immanent in such countries. The main characteristics are that it is a system in development, legal sphere is rather vague, there is lack of definition of the relations between management – principal, there are a lot of elements from the time of agreed economy, incompetence of shareholders and management of corporative governance, lack of understanding of their obligations, interfere of competences, supervisory boards have legal authority but in reality management has it. article IV 9 219 228 1840–3999 Univerzitetska hronika