Корпоративно управљање и Европска унија
Corporate managment and the European Union

Summary/Abstract: Since 2001, the European Union has been dedicatedly working on upgrading and improving the legislation on corporate governance. In the 2022 report entitled “Winter“, prepared by an expert group of lawyers, recommendations were made that the European Union’s legislation should oblige companies to publish their annual reports and apply the “comply or explain” principle. According to these recommendations, European companies should publicly announce the composition of their boards of directors, the models of their independent action, the methods of payment of compensations and awards, and other data on the procedures for the electronic declaration of members of the boards of directors, as well as the ways of informing shareholders in corporations about corporate decisions. The establishment of an adequate concept of corporate governance harmonised with the principles valid in the European Union and its continuous improvement through the establishment of an adequate and integrated legal framework, especially in the domain of financial supervision, is important for countries in transition due to the relatively low level of knowledge and experience of the participants in the processes of corporate governance and due to the specifics reflected in the lower degree of trust in the institutional and real environment that resulted from post-privatisation processes where ownership transformations are carried out to the detriment of small shareholders.

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