Corporate Governance: The Past, the Present and the Future in Albania

Abstract

Corporate have a great impact and importance in the economic, politic, social and cultural aspect of every country. Because of the importance of the corporations, their governance is essential. In Albania, corporate governance is a developing concept, but vital for the promotion of the economic development of the country. In this context, this subject aims to analyze the factors that have influenced in the evolution of the corporate governance, focused mostly at the weaknesses of the corporative governance mechanisms as well as in the relevant cases of governance in the present and in the future.Albania is facing the challenge of attracting the foreign capital during these last years and especially after the crises of 2008. To support and encourage the attraction of foreign investments, it is important the targeting of the cases of corporate governance. The targeting of the governance cases will affect the climate of doing business in Albania, in the conditions when some sectors of the economy are in the way of privatizations of foreign companies. For the realization of this study we did the review of a rich contemporary literature. In addition we analyzed the reports for Albania mainly from the Bank of Albania and international organizations. The results of the study are based in the research over the governance of businesses in the private sector and the public enterprises in Albania. The conclusions of the study will give a full picture over the problematic corporate governance in Albania. In the study we tried to improve the situation through our recommendations toward a positive development climate.

DOI: 10.5901/ajis.2013.v2n9p116