Jelena Stjepcevic,

University of Montenegro, 

Kotor, Montenegro,

E-mail: jstjepcevic@gmail.com

LEVEL (QUALITY) OF CORPORATE GOVERNANCE IN ADRIATIC SEAPORTS

Abstract. Institutions and institutional structures always determine the development (social and economic), and therefore the level (quality) of microeconomic institutions, including that of corporate governance. The subject of this research is the level (quality) of corporate governance (as a dependent variable in the given model) in relatively undeveloped Adriatic seaports. The aim of this paper is to demonstrate the importance of institutional framework in regulating corporate governance and to verify the hypothesis on a significant dependency of the dependent variable from the selectively chosen independent variables of a dominant institutional character. Field survey methods and multiple linear regression analysis are used in this paper. It is concluded that the offered research has verified the initial hypothesis.

Received: September, 2017

1st Revision: December, 2017

Accepted: January, 2018

DOI: 10.14254/2071-789X.2018/11-1/21

JEL Classification: G34, P37

Keywords: corporate governance, institutions, seaports, institutional framework