Corporate governance and enterprise restructuring is essential to competitive advantages of companies, national and regional systems, especially in rather specific business environment accented with transition of the national economic system. Indeed, it is taken with serious consideration, by the companies, regulators and governments. Mainly there are two reasons for this occurrence. On one hand, there was a strong wave of privatization programs in the countries subjected to system change which had resulted with deep and turbulent societal transformation, primarily and in essence driven by economic transition. On the other hand, the international business environment fermented towards standardization of corporate governance practices triggering significant progress in business and economic literature surrounding this issue.