CORPORATE GOVERNANCE IN ESTONIA

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Ruth Alas ORCID logo, Külliki Tafel

https://doi.org/10.22495/cocv5i4c2p7

Abstract

The corporate governance problems as known in a market economy arose in CEE countries in connection with the privatisation of large enterprises at the beginning of the 1990s, and to a large degree even afterwards. The emerging pattern of CG is quite difficult to interpret according to the traditional Western models and varied greatly from country to country, because in the case of transition countries various institutions and the environment as a whole do not work or at least do not work fully (Tafel et al, 2006). Therefore CEE-countries represent a very good testing ground for Corporate Governance (CG) related research. This paper studies forms of corporate governance in foreign owned companies situating in Estonia: cooperation between the owners, council and board in Estonian enterprises. The paper starts with the theoretical part followed by methodology and results of empirical study in Estonian companies.

Keywords: Corporate Governance, CEE, Board of Directors

How to cite this paper: Alas, R., & Tafel, K. (2008). Corporate governance in Estonia. Corporate Ownership & Control, 5(4-2), 296-301. https://doi.org/10.22495/cocv5i4c2p7