CORPORATE GOVERNANCE COMMITTEES IN EUROPEAN UNION EMERGING ECONOMIES

Mihaela Dumitrascu () and Andra Gajevszky
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Mihaela Dumitrascu: Accounting Department, Faculty of Accounting and Management Informatic System, Bucharest University of Economic Studies
Andra Gajevszky: ,

Annals of Faculty of Economics, 2013, vol. 1, issue 1, 618-630

Abstract: The aim of this research is to analyze the support committees of European Union emerging economies. The importance of good corporate governance is vital for an organization, especially in the emerging markets, fact that leads to a several perceived improvements of the entity, while being more trustable, open and transparent in relationship with all its stakeholders. In our demarche we started by choosing the emerging economies from European Union, which lead us to a sample consisting of the companies listed on Bucharest Stock Exchange, Sofia Stock Exchange, Warsaw Stock Exchange, Prague Stock Exchange, Budapest Stock Exchange, without taking into consideration a specific tier. In order to have a heterogeneous sample, we did eliminate the financial institutions from our research. This study is developed at European Union level and takes into consideration the following indices: BET(r) BUCHAREST EXCHANGE TRADING (Romania), SOFIX (Bulgaria), WIG 20 (Poland), PX (Czech Republic), BUX The Share Index of the Budapest Stock Exchange Co. Ltd. (Hungary). The data are extracted from the Annual Reports, Corporate Governance Codes, Comply or Explain Statement or the websites of the listed companies, from period 2007 - 2011. We choose this period, because we wanted to see the evolution of the corporate governance committees' implementation from the period when the last countries from our sample joined the European Union since nowadays. Our conclusion is that we can not discuss about good corporate governance practices. Even so, we can observe from our investigation that the trend in this regard is encouraging. Like future research, we thought at developing our study by comparing the emerging economies from European Union with those outside this area. It is an interesting field of investigation, as every country has different regulations.

Keywords: corporate governance; committees; emerging economies; transparency (search for similar items in EconPapers)
JEL-codes: G30 G34 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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