International Contribution to Corporate Governance Concept

Author:PhD. Alexandru RUSOVICI, Ec. Relu POPESCU

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Keywords:The Corporate Governance, property, transparency, pension funds, economic balance, globalization, unity, administrators, board of directors, separation of duties, audit committee, interests, independency, specialized committees, protectionism, deregulation, protection, financial scandals, trust, principles, standards, gouvernance structure

Abstract:
The Corporate Governance concept appeared and was developed in the last century, being influenced in time by economic environments based on family property, bank capital, institutional investors or public companies, environments energized by the prominent scandals that took place over time. Surprisingly, the same crisis moments had a beneficial effect in identifying the ways to improve the concept of Corporate Governance, to better fit the new stage in the economic evolution.\r\nTo this process contributed specialists from countries like United States of America, England, France and Italy, specialists who by the end of the last century concluded in their “reports“ on some of the essentials issues to be considered when we analyze the mechanism of managing a company.\r\nWe highlight The Cadbury Report, The Greenbury Report, The Pebereau Report, The Vienot Report, The Arthuis Report, The Marini Report ant the more recent Sarbanes-Oxley Act.\r\nThe Corporate Gouvernance concept continues to be in a aprocess of adaptation to the requirements of a modern economy, to the more evident globalization of the social life and in the same time to the necessities to inform the investors and the third parties interested in the companies’ activity.

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