The Development of Joint Stock Companies according to Kosovo’s Legislation and their Comparison with the Region

Abstract

Joint Stock companies or Corporations are the highest forms of business organization and are regulated by law. As the most organized business forms, they have special importance on economic development of a country and that their development and their regulation determine the economic and political stability of a country. To describe corporations and their regulation from the legal aspect, namely to use the descriptive technique, are used secondary data. In this paper has been implemented also the comparative method in order to compare the development of joint stock companies in Kosovo with those in the region. More specifically, the comparison is made with Albania, Macedonia, Montenegro, Croatia and some other countries of the Western Balkans. The legal framework of all these countries is analyzed in detail and comparisons are based on those findings.From this comparison it is noted that while the joint stock companies in other countries have started to act very early, Kosovo as a country which has recently come out of war has managed to issue a law that does not differentiate greatly from any other legislation of neighbouring countries.From the conducted research, it is noted that Kosovo has made progress in terms of legislation in the field of commercial law, which has resulted in improving the investment climate and organization of joint stock companies.