HARMONIZATION OF NATIONAL RULES WITH THE NEW INTERNATIONAL RECOMMENDATIONS ON CORPORATE GOVERNANCE. CASE STUDY FROM INSURANCE COMPANIES IN ROMANIA

Bîgioi Adrian Doru () and Bîgioi Cristina Elena ()
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Bîgioi Adrian Doru: Bucharest University of Economic Studies
Bîgioi Cristina Elena: Politehnica University of Bucharest

Management Strategies Journal, 2017, vol. 35, issue 1, 105-113

Abstract: The principles on corporate governance issued internationally have undergone a review process in recent years. Authorities and professional accounting bodies have made efforts to implement them. Based on these considerations, this study aims to analyze the stage of implementation of these recommendations to the insurance companies from Romania. As credit institutions, these entities have a very important role in the economy of a country and the experience of past years has shown that poor corporate governance has contributed significantly to the outbreak of the financial crisis. To prevent a series of negative effects in the Romanian economy, we believe that even the insurance companies should consider implementing the principles of corporate governance in their work. The results of the study show that the entities which made the subject of the research are in the early stages of introducing these international recommendations.

Keywords: corporate governance; financial crisis; international recommendations; insurance companies; stakeholder (search for similar items in EconPapers)
JEL-codes: G38 H21 H25 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:brc:journl:v:35:y:2017:i:1:p:105-113

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