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Aspects and Considerations Regarding the Corporate Governance in Romanian Banking System and Financial Reporting Standards

Author

Listed:
  • Dobre Elena

    (Ovidius University of Constanta, Faculty of Economics Sciences)

  • Miþac Mirela Claudia

    (Ovidius University of Constanta, Faculty of Economics Sciences)

Abstract

Drawing on the lessons learned during the last crisis, started in mid of 2007, on the global economy, and especially the negative impact over the international banking system, was issued by the Basel Committee on Banking Supervision a set of principles for enhancing corporate governance practices for banking organizations. Enhancements to the framework and mechanisms for corporate governance in banks should be driven by such benefits as improved operational efficiency, greater access to funding at a lower cost and an improved reputation. In Romania, National Bank of Romania has an important role in in order to increase the enhancement of the corporate governance in banking system. A core role was played by the implementation of the International Financial Reporting Standards in Romanian banking system in order to support o sound corporate governance.

Suggested Citation

  • Dobre Elena & Miþac Mirela Claudia, 2012. "Aspects and Considerations Regarding the Corporate Governance in Romanian Banking System and Financial Reporting Standards," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1365-1370, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:1365-1370
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    More about this item

    Keywords

    corporate governance; banks; supervisors; Basel Committee.;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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