Оценување на корпоративното управување и организациските перформанси

Abstract

Corporate governance raises great interest in the legislation of certain countries, in the literature about management, the enterprises and the court practice. This is also proven by the empirical research according to which corporate governance is ranked as one of the ten most important issues regarding the companies’ operation. Corporate governance is a complex issue that covers economic, managerial, legal, social and political dimensions. The field of corporate governance, underwent two crisis over the last two decades, the first being in year 2001 and the second one in year 2008. The interest significantly increased with the collapse of Enron-one of the largest American companies, followed by the collapse of World.com, Tyco International and others in year 2001. The increase is due to the following: the scandals in the largest corporations, the bad financial results, the failure of the developed systems for corporate governance, the operation of the Chief Executive Officer, the badly designed processes regarding the relations with the investors etc. In order to get an overall and complete perception about the role the Board of Directors has in the management of the company, there is an elaborate on the following vital aspects: the core, the principles and the theories of the corporate governance; the Board’s value, proxy and culture; Board’s and management efficiency; the evaluation and promotion of the Board’s efficiency; the evaluation and the ranking of corporate governance; his/her role, the scope of his/her operation and his/her relations with the Chief Executive Officer; the tendencies, the need and the occurrence and types committees; organization of the Board; etc. For the purpose of explaining the differences in the corporate governance functioning in the Republic of Macedonia, there has been made an empirical research of 46 large shareholding companies.