Corporate Governance in Various Albanian Companies

Today the corporate governance is very important the same as the governance of the state. All the company has their strategy about the corporate governance. In the same time the companies has their code in the field of corporate governance because the management today has became more responsible. Corporate governance in Albania is at its beginnings because Albania has a new market economy. Corporate governance today is very important, as with the government of states. Corporate governance issues have gradually become important in Albania during the last decade. The corporate governance principles are very important in maintaining, increasing and optimizing the invested funds, especially for the firms with the initial public offering. The separation of ownership from control is at the top of corporate governance system and in the same time is the core of the agency problems facing by the firms (Berle & Means 1932; Jensen & Meckling 1976). Theoretical discussions and empirical research largely conclude that the problems are strongest influence on systems of corporate governance, although many other factors affect corporate governance, including legal systems, cultural and religious traditions, political stability and economic events. It has to be underlined that capital markets are a relatively new experience for Albania. This paper provides an overview of empirical and theoretical discussions on specific corporate governance issues in the economic environment in Albania and corporate responsible governance index.