Gonan Božac, Marli (2008) The Development of Corporate Governance: The Case of the Republic of Croatia. In: Znanje za trajnostni razvoj Zbornik 27. mednarodne konference o razvoju organizacijskih znanosti Knowledge for Sustainable Development Proceedings of the 27th International Conference on Organizational Science Development , 2008, Kranj.
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The purpose of this paper is to show the achieved level and tendencies of the future corporate governance development in the Republic of Croatia. The former research results indicate that supervisory boards of Croatian stock companies do not participate enough in corporate governance. The Croatian company law has included the one-tier system in the Commercial Code because of coming to terms with the EU law (Regulation EC No 2157/2001 from 8 October 2001), but also because of the principle of soft regulation, with no coercive regulations. Commercial Code from 20031 was amended and modified with the Amendment to the Commercial Code (Official Gazette No. 107 from 19 October 2007) that shall enter into force from 1 April 2008. In the period between 1993 and 2008 the practice of two-tier system rather settled in. The choice between the offered one-tier and two-tier organisation of the company shall be determined by the statute. The choice option between offered models will provide the shareholders with the possibility to choose the structure of the board in accordance with the company’ s size and market requirements.2 Therefore, the founders of the stock company will be able to choose between the two-tier and one-tier system as well as realise their right of choice through the amendment of the existing statute. If research results and practise point to a fact that successful supervisory boards in different countries of different systems have more in common than less successful boards within the same system3, then strengthening of the supervisory role of boards of the Croatian stock companies is the proper way to do it, even more so because it is tightly connected with the discussion on convergence, discussions on the attempts of harmonisation of different models of corporate governance. It seems that it is possible to regulate important issues of corporate governance in Europe in such a way as to regard the other models of corporate governance as different possibilities to achieve the same aim. However, the development of the European Union company law and its reform introduce new standards adopted by Croatia as well. Keywords: corporate governance, board of directors, two-tier system, dual board system, one-tier system, single board system, the Republic of Croatia 1 Official Gazete No. 111/93, 34/99, 52/00, 118/03 2 Parliament of Republic of Croatia, Decision about adoption from 15 October 2007 3 Shilling, F., (2005): Popular Misconception about Supervision over Companies, Boardroom – Magazine for Corporate Governance, Leadership and Quality of Life, No. 1, pp. 22.
| Tip objekta: | Materijal konferencije ili radionice (Paper) |
|---|---|
| Mentor: | NIJE ODREĐENO |
| Ključni pojmovi: | corporate governance, board of directors, two-tier system, dual board system |
| Teme: | 6 Tehnologija (primijenjene znanosti) > 65 Menadžment i organizacija industrije, trgovine i komunikacija > 65.01 Metode i metodologija. Teorija i praksa organizacije > 65.012.4 Menadžment. Uprava. Ravnateljstvo Tehnike i metode upravljanja |
| Odjeli: | Fakultet ekonomije i turizma "Dr. Mijo Mirković" |
| Datum pohrane: | 07 Jan 2014 08:41 |
| Zadnja promjena: | 07 Jan 2014 08:41 |
| URI: | http://eknjiznica.unipu.hr/id/eprint/2890 |
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