Milko Štimac
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Milko Štimac has been active in the field of capital markets for 20 years. Štimac was a founder and the former Director of the G17 Institute. He has worked on the stock exchanges of Chicago and Belgrade, …

Dr. Milko Štimac, former Director of the G17 Institute, and then Chair of the Securities Exchange Commission in Belgrade, examines the shared characteristics, principles, and parallel institutions of democracy and capital markets. He talks about connections between societal structures and economic activities, and how they constantly and continuously influence each other; democracy and shareholding, both of which are organized by the same principles; and the market stakeholders such as the managers, employees, creditors, business partners and shareholders – all who contribute to the capital market. Furthermore, Dr. Štimac communicates what democracy needs as well as what its threats are. He argues democracy requires an active approach to problem solving and protection of shareholders’ rights. He emphasizes the need for transparency and anonymity; rights to adequate information; and the importance of electability and replace-ability for all governing body representatives. Finally, democracy should encompass the entire society, both those who manage it as well as those who it directly affects.