Corporate Governance in the Process of Transition: A Polish and Swedish Experience

Abstract

Corporate govemance systems differ substantially among countries. Differences are rooted in the social, political in the social, political and economic traditions of the specific country, and also are influenced by the stage of economic development, ownership structure, ! legal framework etc. These differences affect the specific board's orientation. The purpose of the paper is to describe and compare board orientation in two countries Poland and Sweden. National context is the first dimension of our investigation. The second is to identify changes, which took place in the Polish and Swedish boards during last 5 years. This second approach is especially important taking into account the process of transition which has been taking place in two countries; economic transformation in Poland and development of capital market in Sweden.