According to the previous authors’ research on the trade-off between investor’s long and short-term goals, plausible corporate governance of the company is one of the key factors for the company to generate sustainable shareholder value, which is especially important in the current uncertain marke environment. The present study looks into the corporate governance systems employed by the listed Central and Eastern European enterprises to find out whether the qualitative corporate governance succeeds better firm’s financial performance, which is mainly profitability. The study results provide an overview of the most important attributes of the efficient coporate governance structure and allow authors to develop the model for sustainable shareholder value creation.