CORPORATE GOVERNANCE OF CREDIT INSTITUTIONS - BETWEN PERFORMANCES, SOCIAL RESPONSIBILITY AND PROMOTION OF ETHICAL VALUES

Prof. Veronel avram Ph.d, Lecturer ROxana Heteș Gavra Ph.D, Ph.D Student Alexandru Avram
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Prof. Veronel avram Ph.d, Lecturer ROxana Heteș Gavra Ph.D, Ph.D Student Alexandru Avram: University of Craiova Faculty of Economics and Business Administration Craiova, Romania

Annals of University of Craiova - Economic Sciences Series, 2011, vol. 4, issue 39, 150-157

Abstract: The international financial crisis started in 2007 brought to the fore the fragility of the banking system, for which the axiom "When confidence was gone, the crisis arose", coupled with an acute need to rebuild public confidence in the banking system in general, refers directly to the commands of social responsibility and promotion of ethical values. Because they were too much concerned with the performance indicators, notably the profitability, but also with the level of their salaries, incentives, compensations, bonuses, special pension rights, the management of the banks with problems have ignored their obligations in terms of social responsibility, considered they are "too big to fail" and flagrantly violated ethical values.

Keywords: corporate governance; performance; enviroment of control; audit committee; banking ethics; incentives. (search for similar items in EconPapers)
JEL-codes: G21 G30 (search for similar items in EconPapers)
Date: 2011
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