Current Issues Regarding the Measurement of Corporate Governance in Romania

Author:Assistant Adriana – Sofia RĂILEANU, Ph. D. Student, Associate Prof. Camelia Liliana DOBROŢEANU, Ph. D., Prof. Laurenţiu DOBROŢEANU, Ph. D.

JEL:G32, G34, M14, M48

DOI:

Keywords:corporate governance, governance models, obstacles, level of corporate governance

Abstract:
Nowadays the term corporate governance is often associated with compliance and risk management objectives, describing an area reserved exclusively for boards and general directors. In author’s opinion corporate governance has a major and extensive importance, because it covers all levels of decision of the company, it facilitates the harmonization of strategic decisions with the tactical and operational ones and, nevertheless, it aims to create value (in the context of risk management and compliance with established rules). Even the recent economic and financial crisis has highlighted the benefits of implementing an adapted system of corporate governance, despite the additional required costs.\r\nThis study aims to clarify some issues linked to corporate governance in Romania, by offering answers to questions like: Who bears the burden of implementing an appropriate system of corporate governance? How can be assessed the current level of corporate governance in Romania? What are the main obstacles that enterprises in Romania have to face concerning corporate governance? Is there a model of governance that has proven to be better than others? What are the criteria for measuring the level of corporate governance?\r\n

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