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During the past years, developing countries have become extremely interesting for researchers, as well as for capital investors. Even if they lack macroeconomic indicator stability or sufficiently mature financial markets, they provide a quick growth and the perspective of a solid development as long as these countries identify measures that will stimulate foreign investors to invest. One such measure is increasing the quality of corporate governance at the level of small and medium-sizeddoi:10.17626/dbem.icom.p00.2015.p066 fatcat:dt5dhhh62baupnai2645exdnnm