The scientific monograph investigates the problem of the shareholder returns sustainability on the Central and Eastern European equity markets, which becomes a theme requiring increased attention due to the high risk profile of the emerging stock markets giving credit to the following actors: low market liquidity, imperfect legislation, poor media coverage, low transparency level of the governance etc. The monograph presents comprehensive analysis of the ‘traditional’ (quality of the financial conditions) and ‘emerging’ (corporate governance quality, shareholder structure, earnings quality) fundamental qualitative and quantitative factors influence on the shareholder value in the long term. The research results identify the most important factors for achieving sustainable shareholder returns at the lowered risk level, providing the opportunity to build the equity selection model, which is being tested in the concluding part of the monograph. The monograph is primarily developed for the financial industry professionals: stock investors, managing bodies of the exchange-listed companies; for the local authorities; for the students mastering in Finance.