The operation of corporations as the most developed form of capitalist organization, as one of the extremely important entities in the economy in the sense that the largest organizations, i.e. those organizations that generate the greatest profits are corporations, is extremely important, and therefore corporate governance and all its systems and systems can not be ignored. Good corporate governance practices are of key importance for successful business and the survival of any corporation in the market in general, and therefore it is necessary to comply with all provisions and measures determined by laws. In particular, the Code of Corporate Governance has been in force in Croatia since 2017, to which both private and public companies had to adapt and be guided by them in their operations. This paper, therefore, analyzes the case study of three predominately stateowned companies, specifically Hrvatska elektroprivreda JSC, HP - Hrvatska pošta JSC, and Croatia Airlines JSC, to show the state of the market and how it looks in practice. All three corporations proved to be corporations whose corporate governance is at a high level, and the situation is very similar among other companies as well. There are still challenges, but this research has shown that in Croatia the importance of corporate governance is recognized and that efforts are being made to improve its quality. The adopted Code of Corporate Governance, as well as the transformation of the Croatian Privatization Fund into the State Property Management Agency, is an indicator of the aforementioned.