A View on Corporate Governance in Romania: Regulation and Effects

Mihaela Tofan () and Elena Rusu Cigu ()
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Mihaela Tofan: University “Alexandru Ioan Cuza” of Iasi

Chapter Chapter 11 in Corporate Governance in Central Europe and Russia, 2020, pp 177-197 from Springer

Abstract: Abstract Corporate governance in Romania evolved from the model specific to a complete centralized society, in the early 1990s, when the management of business was the exclusive public authority prerogative, to one based on market economy principles, where corporate governance in not only about the respect for the rule of law, but also about finance, social economy and global sustainability objectives of the state authorities’ activity. Almost every year a new important law was adopted to create a coherent legislative context for public and private companies, their ownership, the management structures and the transparency of the activities they are involved in. The chapter proposes a theoretical approach of the corporate governance legal framework in Romania, in terms of its evolution and its impact throughout implementation, as well as the status of its functioning today. The results of the research point out some proposals for improving the Romanian legal framework in the corporate governance field. The chapter is a useful viewpoint in understanding the complex transformation of Romanian corporate governance legislation, in accord with market economy principles, thus developing the existing literature on corporate finance.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-030-39504-9_11

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DOI: 10.1007/978-3-030-39504-9_11

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