Corporate Governance and Self-Regulation the Case of Albania

Diana Biba
European University of Tirana

Abstract

In the last two decades corporate governance became “dish of the day”. Although the events that led to the increased attention were less than fateful, yet the corporate governance is now a tool to effective and long-term sustainable growth. the principles of good governance are accountability, honesty, confidentiality, transparency and openness of information stand at the core of corporate governance despite the model of corporate governance, that is a shareholder or a stakeholder-oriented model. Is the corporate governance a mere product of law or companies themselves, as actors in the market do work as corporate law regulators? Although the state in its capacity of legislator plays a crucial role, companies themselves, are entrusted by the laws to guide the way. What is of essence is that the rules, being laws or sub legal acts, should be more than just provisions on a piece of paper, but mechanism to serve to market competitive and efficient companies. Key words: corporate governance, self – regulation of corporate activity, corporate law

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