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The role of advisory committees in the system of the corporate governance. Case study on listed companies in Romania

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  • Berheci Maria GROSU

    („ALEXANDRU IOAN CUZA” UNIVERSITY OF IASI)

Abstract

Corporate governance concerns the way in which companies are managed and controlled. For efficient management of companies, these are recommended either to use the dual system of management, which, implicitly, assumes a board independent, supervisory board, respectively, or to establish independent advisory committees. Studies over time have shown that it is necessary to increase the role of BD and the establishment of specialized committees to advise the Board in its work. This study attempts to show, first, the need for advisory committees in addition to BD, with emphasis on the global situation. Second, to analyze is the situation and functioning of these committees at national level, we performed an empirical study of companies listed on the Bucharest Stock Exchange on tier I.

Suggested Citation

  • Berheci Maria GROSU, 2012. "The role of advisory committees in the system of the corporate governance. Case study on listed companies in Romania," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 208-214, May.
    • Handle: RePEc:tdt:annals:v:xviii:y:2012:p:208-214
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    File URL: http://fse.tibiscus.ro/anale/Lucrari2012/kssue2012_030.pdf
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    References listed on IDEAS

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    1. Avshalom Adam & Tal Shavit, 2009. "Roles and responsibilities of boards of directors revisited in reconciling conflicting stakeholders interests while maintaining corporate responsibility," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 13(4), pages 281-302, November.
    2. Morten Huse, 2003. "Renewing Management and Governance: New Paradigms of Governance?," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 7(3), pages 211-221, September.
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    More about this item

    Keywords

    corporate governance; advisory committees; audit committee; remuneration committee; nomination committee;
    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
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative

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