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Financing Decision And Corporate Governance

Author

Listed:
  • ANDREI STANCULESCU

    (The Bucharest Academy of Economic Studies)

  • DAN NICOLAE IVANESCU

    (The Bucharest Academy of Economic Studies)

  • PETRE BREZEANU

    (The Bucharest Academy of Economic Studies)

Abstract

This paper sustains the existence of a biunivocal link between a company’s financing decision and the corporate governance. On the one hand, the financing decision has an impact on corporate performance, which has been confirmed. According to the agency theory, the financing decision will contribute to solving interest conflicts between shareholders and managers. On the other hand, the corporate governance mechanism provides the proper contractual framework for attracting financing resources. The decision makers of profit-oriented organizations should take these correlations into account.

Suggested Citation

  • Andrei Stanculescu & Dan Nicolae Ivanescu & Petre Brezeanu, 2011. "Financing Decision And Corporate Governance," International Conference Modern Approaches in Organisational Management and Economy, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 5(1), pages 569-572, November.
    • Handle: RePEc:rom:cmanag:v:5:y:2011:i:1:p:569-572
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    File URL: https://simpozion.management.ase.ro/articole/stanculescu.pdf
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    Citations

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    Cited by:

    1. , Aisdl, 2019. "Developing a sustainable financing model for SMEs during the organizational life cycle in Uganda," OSF Preprints 2s8k9, Center for Open Science.

    More about this item

    Keywords

    financial structure; financing decision; shareholder; manager; corporate governance; average weighted cost of capital; conflicts of interest.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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