Specifics of the Corporate Governance for Implementing Bankruptcy Law Reforms in the Czech Republic
|Original title:||Specifics of the Corporate Governance for Implementing Bankruptcy Law Reforms in the Czech Republic|
|Field:||Management and administrative|
|Type:||Article in Proceedings|
|Keywords:||corporate governance; bankruptcy law; institutional framework; management board|
The article describes the institutional framework of the Czech economy and its functioning problems which are manifested when securing a desired pace of the economic and social development in the Czech Republic. It is based on the assessment of the Czech Republics position according to the characteristics of institutional quality within the EU. A growing attention has been paid to the indicators of the institutional quality of the economy in the Czech Republic in recent years. This trend is apparent especially when assessing the effectiveness of companies. Quality of corporate environment and corporate management are to a large extent regarded as significant factors affecting the business sphere effectiveness. The data source used for comparing the quality indicators of the Czech corporate environment and corporate management with the EU member countries is based mainly on the results of researches carried out by OED, EIU and researches within the competitiveness year-books by WEF and IMD. Mostly they are soft data, combined with selected statistical indicators or with data concerning practices of legal systems. The institutional quality measurability is in fact only indirect, which limits the rate of international comparability as well as comparability in the course of time.