Evaluating Corporate Governance in Albania: A Comparative Study of Board of Directors, Mechanisms and Managerial Practices
Evaluating Corporate Governance in Albania: A Comparative Study of Board of Directors, Mechanisms and Managerial Practices

Author(s): Esmir Demaj, Mirsa Dani
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Corporate governance; Albania; Board of Directors; Transparency; Accountability
Summary/Abstract: Corporate governance has become a critical issue globally, facing increasing scrutiny from regulators, investors, and the public, particularly in rapidly developing nations. This study examines corporate governance in Albania, focusing on board practices, challenges, and areas for improvement. Using a mixed-methods approach, it analyzes corporate governance through secondary data from annual reports and financial statements of the top 29 companies by income, alongside exploratory qualitative insights from interviews with key corporate stakeholders. Findings reveal a varied landscape, while some firms demonstrate effective governance, others face challenges like conflicts of interest, lack of board independence, and inadequate disclosure. Key improvement areas include stronger regulatory frameworks, more diverse boards, and increased shareholder engagement. This research contributes to the limited literature on the corporate governance domain in Albania, offering insights into the local context as well as serving as a foundation for future studies and initiatives to enhance governance standards, fostering a corporate culture of transparency, accountability, and stakeholder protection.

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