Transparency and disclosure between theory and practice. A case study of Romania

Adina Simona Popa, Rodica BLIDI
EL () and BOGDAN Victoria ()
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Rodica BLIDI
EL: West University from Timioara
BOGDAN Victoria: University of Oradea
Authors registered in the RePEc Author Service: Rodica Gabriela Blidisel

A chapter in Proceedings of FIKUSZ '09, 2009, pp 173-183 from Óbuda University, Keleti Faculty of Business and Management

Abstract: As a modern system by which companies are directed and controlled (The Cadbury Report, 1992) – corporate governance have became in the last years a system implemented by more and more companies from developed countries and recently from developing once. Having as starting point one of the principles of corporate governance – transparency – in this paper we focus on aspects that contribute to reach the transparency at corporate level, taking into consideration both regulation and practical issues in Romania, a developing country that have recently adopted the mechanisms of corporate governance. Corporate disclosure is the principal mean by which companies can become transparent, and is critical for the functioning of an efficient capital market (Healy & Palepu, 2001). For this reason we investigate several non-financial items that companies operating on international capital markets are usualy disclosing, looking for the extent to which Bucharest Stock Exchange listed companies are disclosing corporate social responsibility information. The results suggest that is a poor disclosure of social responsability information within the annual reports even the companies are activating in domains with great impact on the environment

Keywords: corporate governance; transparency; corporate disclosure; listed companies; corporate responsibility (search for similar items in EconPapers)
JEL-codes: M41 G32 (search for similar items in EconPapers)
Date: 2009
ISBN: 978-963-7154-93-5
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