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How Do Listed Romanian Companies Comply with or Explain Good Corporate Governance Guidelines?

Author

Listed:
  • Marius Eugen ROGOZ

    (Bucharest University of Economic Studies)

  • Dragoș Andrei STOICA

    (Bucharest University of Economic Studies)

Abstract

This study aims to present the main guidelines published by the Bucharest Stock Exchange regarding the general principles of corporate governance, as well as an analysis of the level of compliance with them by listed companies. Thus, the authors have developed a three-level Corporate Governance Index with the help of which the level of compliance with the guidelines published by the BVB can be measured. Following the analysis, the authors conclude that the score obtained by the companies analysed is positive, based on their level of compliance with most of the guidelines presented by the BVB. Moreover, companies in the Premium category have a higher level of compliance with the guidelines of the Corporate Governance Code than other companies listed on the regulated market. From the perspective of future research, the authors aim to investigate whether corporate governance can influence a company’s financial performance.

Suggested Citation

  • Marius Eugen ROGOZ & Dragoș Andrei STOICA, 2024. "How Do Listed Romanian Companies Comply with or Explain Good Corporate Governance Guidelines?," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 5(6), pages 1-10, June.
    • Handle: RePEc:ahd:journl:v:5:y:2024:i:6:p:1-10
    DOI: 10.37945/cbr.2024.06.01
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    More about this item

    Keywords

    Romania; Bucharest Stock Exchange; corporate governance; index; conform or explain;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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