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Application Of The Eu-Principles In Romania And Hungary Concerning The Boards Of Listed Companies

Author

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  • Gabriella Keczer

    (University of Szeged, Hungary)

Abstract

Corporate governance ensures that boards are able to exercise appropriate scrutiny over management and that shareholders, as owners of the company, are able to hold boards accountable. As such, a high level of corporate governance contributes significantly to investors' confidence and market stability, thus fostering business efficiency. In 2005 the European Commission launched a recommendation on the boards of listed companies and invited Member States to follow the guidelines. In 2008 both Romania and Hungary launched a new Code of Corporate Governance on the basis of the EU recommendations. In my paper I present the EU principles, and by examining the national codes of Romania and Hungary I analyze to which extent and in what issues these two countries have adopted the EU recommendations. I concluded that by the new codes of corporate governance issued in 2008 Romania and Hungary have followed to a large extent the provisions of the EU recommendation.

Suggested Citation

  • Gabriella Keczer, 2009. "Application Of The Eu-Principles In Romania And Hungary Concerning The Boards Of Listed Companies," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 5-12, November.
    • Handle: RePEc:aio:manmar:v:vii:y:2009:i:1:p:5-13
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    File URL: http://www.mnmk.ro/documents/2009/1_KeczerFFF.pdf
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    More about this item

    Keywords

    corporate governance; European Union; executive and supervisory functions; board; directors; committees;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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