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Corporate Governance in Bulgaria

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Corporate Governance in Central Europe and Russia

Part of the book series: CSR, Sustainability, Ethics & Governance ((CSEG))

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Abstract

This chapter presents the main characteristics and problems of the corporate governance in Bulgaria. It outlines the legal framework of corporate governance in Bulgaria followed by the brief description of the historical process of corporate governance development within the transition agenda. The chapter addresses also the works proposed by Bulgarian Corporate Governance Network and the model of corporate ownership and shareholder rights. Finally, the discussion on the composition and functions of corporate boards and standards of transparency and disclosure is presented.

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Notes

  1. 1.

    These are: Capital Corp. AD—by BGN 12.9 billion, First Investment Bank AD—by BGN 622 million and Sopharma AD—by BGN 577 million market capitalization. As of 31.12.2016 the statistics of the stock exchange operator indicate that Sopharma AD has a market capitalization amounting to BGN 401.7 million. Chimimport AD—BGN 400.2 million and “Chaika Pharm High-Quality Medicines” JSC—BGN 394.5 million As at 31 December 2015, the market capitalization by companies is as follows: Sopharma AD—BGN 450 million, Bulgartabac-Holding AD—BGN 331 million and “Monbat” AD—BGN 323 million.

  2. 2.

    According to the BNB, the total amount of deposits continues to increase, reaching BGN 76 billion in August. http://www.bnb.bg/Statistics/StMonetaryInterestRate/StDepositsAndCredits/StDCQuarterlyData/index.htm

  3. 3.

    According to BSE data, the turnover for the 9-month period of 2018 reached BGN 370 million, with a decline of 25% on an annual basis. The total market capitalization of the traded non-BSE companies in 2018 is less than BGN 10 billion.

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Author information

Authors and Affiliations

  1. Association of Bulgarian Investor Relation Directors, Sofia, Bulgaria

    Daniela Peeva

Authors
  1. Daniela Peeva
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Correspondence to Daniela Peeva .

Editor information

Editors and Affiliations

  1. Warsaw School of Economics, Warsaw, Poland

    Maria Aluchna

  2. Guildhall Faculty of Business and Law, London Metropolitan University, London, UK

    Samuel O. Idowu

  3. Corporate Economics and Business Governance, Ural State University of Economics, Ekaterinburg, Russia

    Irina Tkachenko

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Peeva, D. (2020). Corporate Governance in Bulgaria. In: Aluchna, M., Idowu, S.O., Tkachenko, I. (eds) Corporate Governance in Central Europe and Russia. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-030-39504-9_9

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