Consistency of corporate governance statements with the Corporate Governance Code provisions. The case of Romanian oil market

Tatiana Dănescu () and Maria-Alexandra Popa ()
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Tatiana Dănescu: „George Emil Palade” University of Medicine, Pharmacy, Science and Technology of Târgu Mureș, 38 Gheorghe Marinescu street, Târgu Mureș, 540139, România
Maria-Alexandra Popa: „George Emil Palade” University of Medicine, Pharmacy, Science and Technology of Târgu Mureș, 38 Gheorghe Marinescu street, Târgu Mureș, 540139, România

Acta Marisiensis. Series Oeconomica, 2020, vol. 2, 1-8

Abstract: The purpose of corporate governance is to achieve a responsible and value-oriented control of a company. The corporate governance provisions promote and strengthen the confidence of current and future shareholders, creditors, employees, business partners and the general public in national and international markets. For the resilience of financial markets but also for sustainable economic development it is crucial as a governance practice of companies listed on financial markets to be enshrined in the current corporate governance codes’ provisions. Therefore, the approaches of this research bring to the public's attention the conformity of the corporate governance declarations of companies from oil industry that trade shares on the Bucharest Stock Exchange. The results show that, in 2019, the analyzed companies register a high level of compliance with the provisions of the Corporate Governance Code applicable on the Romanian financial market.

Keywords: corporate governance conformity; Code of Corporate Governance; Bucharest Stock Exchange; oil industry; capital market (search for similar items in EconPapers)
JEL-codes: G34 O16 (search for similar items in EconPapers)
Date: 2020
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