Convergent Insights for Sustainable Development and Ethical Cohesion: An Empirical Study on Corporate Governance in Romanian Public Entities

Ionela Munteanu, Adriana Grigorescu (), Elena Condrea and Elena Pelinescu
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Ionela Munteanu: Accounting Department, Bucharest University of Economic Studies, 1 Tache Ionescu street, 010352 Bucharest, Romania
Elena Condrea: Faculty of Economic Studies, Ovidius University of Constanta, Aleea Universitatii no.1, 900470 Constanta, Romania

Sustainability, 2020, vol. 12, issue 7, 1-17

Abstract: The global financial crisis was decisive in reanalyzing the role of corporate governance based on the accountability and ethics of governance practices and its impact on sustainable development. The study aims to analyze the relevance of and the interdependencies between financial governance assessment indicators and income efficiency with synergetic effects on sustainable development and social cohesion, offering a distinct contemplation on errors in governance and financial reporting. Deviations concerning the accuracy of financial statements, flaws in the process of budget creation and budgetary execution, poor implementation of internal control systems, non-compliance with procedures of public procurement contracts, and ineffectiveness in sound financial management represent barometers for assessing managerial accountability in the public sector. This study is based on data reported by the Romanian Court of Accounts processed with the principal component analysis and proposes a global efficiency index as a benchmark indicator barometer in order to analyze the influence of managerial accountability and sustainable reporting compliance on revenue reported by public institutions in Romania. The results of the study are of empirical importance and explore the constant need to evaluate managerial accountability and ethics, with an emphasis on error, in order to improve public governance and enhance corporate accountability.

Keywords: corporate governance; public entities; sustainable development; accountability (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (7)

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