“Good” Corporate Governance in Transformation Countries — A Comparison of Experts' Perceptions in East Germany, Estonia and Hungary

Abstract

This chapter explores the perceptions held about "good" corporate governance (GCG) in three different transforming economies of Central and Eastern Europe [CEE] (East Germany, Estonia, and Hungary). Forty-nine interviews were conducted with corporate governance experts from various institutions in the three countries between 2003 and 2004. They were analyzed with the help of several qualitative techniques, resulting in a typology of GCG perceptions. Our findings show that these perceptions are strongly influenced by the institutional and historical background of the countries. However, they are far from being uniform or shaped along the lines of well-known Western models but take, rather, some hybrid forms. This chapter also highlights the crucial role (native) professionals and experts play in the development process of GCG.