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Corporate Governance Codes in Romania and European Union Countries

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  • Mihail BUSU

    (The Bucharest University of Economic Studies, Romania)

Abstract

In recent years, European conglomerate-type companies have used to define their operating strategies according to the principles established by means of corporate governance programs. In Romania, the corporate governance programs are best illustrated by listed companies which are coordinated by such rules. Mostly, these rules involve company’s objectives, the relationship with shareholders and investors, the reports made by them, the structure of the board, the role of companies’ presidents and even managers’ remunerations. The specific rules of corporate governance programs follow the OECD general principles stated in 1999 as well as the package of European Union Directives. This article provides an assessment of the corporate governance policy framework and enforcement and compliance practices in Romania and comparisons between Romania and other UE member states.

Suggested Citation

  • Mihail BUSU, 2015. "Corporate Governance Codes in Romania and European Union Countries," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 16(1), pages 119-128, March.
    • Handle: RePEc:rom:rmcimn:v:16:y:2015:i:1:p:119-128
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    File URL: https://rmci.ase.ro/no16vol1/10.pdf
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    References listed on IDEAS

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    1. Shleifer, Andrei & Vishny, Robert W, 1997. "A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    2. Becht, Marco & Bolton, Patrick & Roell, Ailsa, 2003. "Corporate governance and control," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 1, pages 1-109, Elsevier.
    3. Denis, Diane K. & McConnell, John J., 2003. "International Corporate Governance," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(1), pages 1-36, March.
    4. Mihail BUSU & Bogdan CIMPAN, 2014. "Undertakings’ Compliance Programs In European Union Countries," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 8(1), pages 1011-1018, November.
    5. Jarrad Harford & Sattar A. Mansi & William F. Maxwell, 2012. "Corporate Governance and Firm Cash Holdings in the U.S," Springer Books, in: Sabri Boubaker & Bang Dang Nguyen & Duc Khuong Nguyen (ed.), Corporate Governance, edition 127, pages 107-138, Springer.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Cristian BUSU & Mihail BUSU, 2015. "The Liberalization Process of the Railway Sector in Romania and European Union Countries," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 16(3), pages 305-313, July.
    2. Peter JANSEN & Gabriel Viorel RAITA, 2021. "Macro-Level Determinants of Board Effectiveness in UK and Romanian Listed Companies: A Conceptual Approach," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 2(10), pages 60-72, October.

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    More about this item

    Keywords

    corporate governance; shareholders; operating strategies; competition rule; country development.;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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