MANAGEMENT AND DURABLE DEVELOPMENT

Alexandru Bogeanu (alexandru.bogeanu@yahoo.com)
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Alexandru Bogeanu: Bucharest University of Economic Studies, Romania

No 14, Social Responsibility, Ethics and Sustainable Business from Bucharest University of Economic Studies

Abstract: In a management agreement the selection of performance criteria is a complex process. In the business field there is a harsh competition striving for progress and prosperity. Typically, in their search for reporting very good results, managers manipulate results, auditing firms compile positive results, rating organizations award very good scores, the quotation of the shares on the sharemarket grows up; nevertheless, the actual economic status of companies is more often different and may result in shattering bankruptcy. Therefore, to better protect the shareholdres’ interests in their agreement-based relationship with managers, it is important to define what type of performance indexes are mostly relevant in a management agreement; also, it is important to identify what kind of reconsideration of financial statements has to be done to avoid fraud, to better show the actual activity results, and lastly to provide the progress and prosperity for the purpose of the durable development of national or international companies.

Keywords: return on equity (ROE), economic value added (EVA), net income; stock price; rating-type analysis methodology (search for similar items in EconPapers)
Date: 2012-10
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Published in Working Papers Series on Social Responsibility, Ethics & Sustainable Business

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http://www.csrconferences.org/RePEc/aes/icsrog/2012/2012_1_006.pdf First version, 2012, October (application/pdf)

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