This landscape assessment was prepared under the REPARIS for SMEs Program to identify priority areas for strengthening financial management and financial governance among micro, small, and medium-sized enterprises (MSMEs) in North Macedonia, and to assess related development needs.
This report analyzes the growing trend among countries in Europe and Central Asia (ECA) of issuing standalone corporate governance codes specifically for State-Owned Enterprises (SOEs), a departure from OECD recommendations that SOEs should follow the same codes as listed private firms. Drawing on a sample of 29 ECA countries, the report examines the rationales for developing SOE-specific codes, compares their content with general corporate governance codes for listed companies across 20 thematic areas, and explores legal and regulatory alternatives.