Comparative Assessment of Banking and Corporate Governance Models for Growth
Comparative Assessment of Banking and Corporate Governance Models for Growth

Author(s): Mihail Nikolov
Subject(s): Economy, Business Economy / Management, Financial Markets, Public Finances
Published by: Икономически университет - Варна
Keywords: banking models; corporate governance; Anglo-Saxon model; Continental European model; Japanese model; business dynamics; SME financing; economic growth
Summary/Abstract: This study explores how banking and corporate governance models shape business dynamics and economic growth. It focuses on three major frameworks: the Anglo-Saxon (market-based), Continental European (stakeholder-based), and Japanese (network-based) models. Using World Bank data from 2015–2023, the paper analyzes bank consolidation, business registrations and closures, and GDP growth across developed and developing economies, including Germany, France, the UK, Ireland, Japan, Poland, and Bulgaria. A weighted rating model is developed to normalize indicators such as banks per capita, new registrations, survival ratios, and net business growth. Findings indicate that the Anglo-Saxon model fosters entrepreneurship through easy market entry but is associated with high turnover. The Japanese model promotes resilience and long-term stability but limits new firm creation. The Continental European model achieves a more balanced outcome, combining business entry with greater survivability. Bulgaria demonstrates high entrepreneurial activity but weak sustainability, placing it between the Anglo-Saxon and Continental models. The paper concludes by recommending a hybrid model for Bulgaria, integrating market dynamism, European-style stability, and Japanese supply-chain discipline to strengthen industrial capacity and support sustainable GDP growth.

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