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Critical Perspectives of Organisational Behaviour towards Stakeholders through the Application of Corporate Governance Principles

Author

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  • Florin-Alexandru Luca

    (Faculty of Constructions and Installations, Gheorghe Asachi Technical University of Iasi, 700050 Iasi, Romania)

  • Claudiu-Gabriel Tiganas

    (Faculty of Economics and Business Administration, Alexandru Ioan Cuza University of Iasi, 700506 Iasi, Romania)

  • Claudia-Elena Grigoras-Ichim

    (Faculty of Economics, Administration and Business, Stefan cel Mare University of Suceava, 720229 Suceava, Romania)

  • Dumitru Filipeanu

    (Faculty of Constructions and Installations, Gheorghe Asachi Technical University of Iasi, 700050 Iasi, Romania)

  • Lucia Morosan-Danila

    (Faculty of Economics, Administration and Business, Stefan cel Mare University of Suceava, 720229 Suceava, Romania)

Abstract

Corporate governance is gaining interest not only from investors but companies that want to operate in international markets, prompting a more thorough analysis of the field to prioritise stakeholder interests alongside shareholder value. By adopting a holistic approach that considers stakeholders’ diverse needs and expectations, companies can build resilience, foster trust, and create sustainable value for all stakeholders, ensuring long-term success and societal impact. This paper analyses corporate governance principles applied at the international, European, and national levels, emphasising the importance of the field for the stakeholders. The practical approach of the paper analyses the application and compliance of the corporate governance code of 18 companies in the field of financial intermediation and insurance, which are listed on the Bucharest Stock Exchange, underlining the crucial role of transparency of operations in instilling confidence and reassurance in stakeholders. The conclusions present proposals for measures to improve corporate governance practices at the level of companies.

Suggested Citation

  • Florin-Alexandru Luca & Claudiu-Gabriel Tiganas & Claudia-Elena Grigoras-Ichim & Dumitru Filipeanu & Lucia Morosan-Danila, 2024. "Critical Perspectives of Organisational Behaviour towards Stakeholders through the Application of Corporate Governance Principles," Administrative Sciences, MDPI, vol. 14(5), pages 1-20, April.
    • Handle: RePEc:gam:jadmsc:v:14:y:2024:i:5:p:84-:d:1382593
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    References listed on IDEAS

    as
    1. Michelle Greenwood, 2007. "Stakeholder Engagement: Beyond the Myth of Corporate Responsibility," Journal of Business Ethics, Springer, vol. 74(4), pages 315-327, September.
    2. Jensen, Michael C & Meckling, William H, 1979. "Rights and Production Functions: An Application to Labor-managed Firms and Codetermination," The Journal of Business, University of Chicago Press, vol. 52(4), pages 469-506, October.
    3. repec:eme:ijlma0:03090550810852086 is not listed on IDEAS
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