Implementation of corporate governance principles in Romania
The paper aims to conduct a study regarding the manner in which corporate governance principles are applied in Romania, in both public and private sector. In the first part of the paper, the corporate governance principles are presented as they are defined in Romania, in comparison with the main int...
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| Format: | Article |
| Language: | English |
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Editura ASE Bucuresti
2014-12-01
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| Series: | Romanian Economic Journal |
| Subjects: | |
| Online Access: | http://www.rejournal.eu/article/implementation-corporate-governance-principles-romania |
| _version_ | 1818116131494297600 |
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| author | Ramona Iulia Țarțavulea (Dieaconescu) |
| author_facet | Ramona Iulia Țarțavulea (Dieaconescu) |
| author_sort | Ramona Iulia Țarțavulea (Dieaconescu) |
| collection | DOAJ |
| description | The paper aims to conduct a study regarding the manner in which corporate governance principles are applied in Romania, in both public and private sector. In the first part of the paper, the corporate governance principles are presented as they are defined in Romania, in comparison with the main international sources of interest in the domain (OECD corporate governance principles, UE legal framework).
The corporate governance (CG) principles refer to issues regarding board composition, transparency of scope, objectives and policies; they define the relations between directors and managers, shareholders and stakeholders.
The research methodology is based on both fundamental research and empirical study on the implementation of corporate governance principles in companies from Romania. The main instrument of research is a corporate governance index, calculated based on a framework proposed by the author. The corporate governance principles are transposed in criteria that compose the framework for the CG index.
The results of the study consist of scores for each CG principles and calculation of CG index for seven companies selected from the public and private sector in Romania. The results are analyzed and discussed in order to formulate general and particular recommendations.
The main conclusion of this study is that that a legal framework in the area of corporate governance regulation is needed in Romania. I consider that the main CG principles should be enforced by developing a mandatory legal framework. |
| first_indexed | 2024-12-11T04:17:38Z |
| format | Article |
| id | doaj.art-59f56bfc0e6f424ea503971f635c4f45 |
| institution | Directory Open Access Journal |
| issn | 1454-4296 2286-2056 |
| language | English |
| last_indexed | 2024-12-11T04:17:38Z |
| publishDate | 2014-12-01 |
| publisher | Editura ASE Bucuresti |
| record_format | Article |
| series | Romanian Economic Journal |
| spelling | doaj.art-59f56bfc0e6f424ea503971f635c4f452022-12-22T01:21:12ZengEditura ASE BucurestiRomanian Economic Journal1454-42962286-20562014-12-01XVII54141156Implementation of corporate governance principles in RomaniaRamona Iulia Țarțavulea (Dieaconescu)0Bucharest University of Economic Studies, Bucharest, Romania, e-mail: ramona.tartavulea@yahoo.comThe paper aims to conduct a study regarding the manner in which corporate governance principles are applied in Romania, in both public and private sector. In the first part of the paper, the corporate governance principles are presented as they are defined in Romania, in comparison with the main international sources of interest in the domain (OECD corporate governance principles, UE legal framework). The corporate governance (CG) principles refer to issues regarding board composition, transparency of scope, objectives and policies; they define the relations between directors and managers, shareholders and stakeholders. The research methodology is based on both fundamental research and empirical study on the implementation of corporate governance principles in companies from Romania. The main instrument of research is a corporate governance index, calculated based on a framework proposed by the author. The corporate governance principles are transposed in criteria that compose the framework for the CG index. The results of the study consist of scores for each CG principles and calculation of CG index for seven companies selected from the public and private sector in Romania. The results are analyzed and discussed in order to formulate general and particular recommendations. The main conclusion of this study is that that a legal framework in the area of corporate governance regulation is needed in Romania. I consider that the main CG principles should be enforced by developing a mandatory legal framework.http://www.rejournal.eu/article/implementation-corporate-governance-principles-romaniacorporate governance regulationlegal frameworkOECD principles |
| spellingShingle | Ramona Iulia Țarțavulea (Dieaconescu) Implementation of corporate governance principles in Romania Romanian Economic Journal corporate governance regulation legal framework OECD principles |
| title | Implementation of corporate governance principles in Romania |
| title_full | Implementation of corporate governance principles in Romania |
| title_fullStr | Implementation of corporate governance principles in Romania |
| title_full_unstemmed | Implementation of corporate governance principles in Romania |
| title_short | Implementation of corporate governance principles in Romania |
| title_sort | implementation of corporate governance principles in romania |
| topic | corporate governance regulation legal framework OECD principles |
| url | http://www.rejournal.eu/article/implementation-corporate-governance-principles-romania |
| work_keys_str_mv | AT ramonaiuliatartavuleadieaconescu implementationofcorporategovernanceprinciplesinromania |