Corporate governance in developing and emerging countries. The case of Romania

Laura Giurca Vasilescu

MPRA Paper from University Library of Munich, Germany

Abstract: The experiences of the developed countries reveals that a good corporate governance could reduces risk, stimulates performance, improves access to capital markets, enhances the marketability of goods and services, improves leadership, increases the value of the corporations, enables the corporation to acquire external finances more easily and at a lower cost. In the case of developing and emerging economies the need for corporate governance extends beyond resolving problems resulting from the separation of ownership and control. Developing and emerging economies are constantly confronted with issues such as the lack of property rights, the abuse of minority shareholders or contract violations. But in order that corporate governance measures have a strong impact in the economy, a set of democratic, market institutions and legal system should be settled up. The Romanian governance system follows the patterns of the Continental European model based on the internal control of the employees and the management but with some particularities in function of the specific economic, political, cultural conditions.

Keywords: corporate governance; developing countries; principles; models; firm; performance (search for similar items in EconPapers)
JEL-codes: G30 G34 P2 (search for similar items in EconPapers)
Date: 2008-10-12
New Economics Papers: this item is included in nep-cfn
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/11053/1/MPRA_paper_11053.pdf original version (application/pdf)

Related works:
Working Paper: Corporate governance in developing and emerging countries. The case of Romania (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:11053

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().