THE ROLE AND IMPORTANCE OF ECONOMIC AND FINANCIAL INFORMATION IN CORPORATE GOVERNANCE

Ionel Bostan, Veronica Grosu and Eugenia Iancu

Annales Universitatis Apulensis Series Oeconomica, 2009, vol. 1, issue 11, 15

Abstract: The evolution and globalization of the markets, the financial scandals that have crashed in different ways the American and European economical systems and the raise of the pressure on behalf of the investors over the economical performance have fueled serious debates regarding the critical role of the economical and financial communication and regarding the indisputable relevance that, in the actual context, covers the corporative government systems and structures. The fundamental characteristic of the financial market is, in fact, to have as main target the so- called “virtual richness†: at the moment where a financial product is offered to the public, substantially it is offered “the inherent information of the richness†. In this paper, the authors are trying to show the importance of the content, quality and time of such information, and also the efficacy of the systems to which the control is destined, consisting the base in guaranteeing the optimal allocation of the resources on the market and therefore must be the object of the prior attention of the legislative organizations in regulating their own markets.

Keywords: financial product; financial scandals; globalization; financial markets; stock exchanges (search for similar items in EconPapers)
JEL-codes: G30 M40 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:alu:journl:v:1:y:2009:i:11:p:15

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