Template-Type: ReDIF-Article 1.0 Author-Name: Adrian Doru BÎGIOI Author-Email:adrian.bigioi@cig.ase.ro Author-Workplace-Name: Bucharest University of Economic Studies Author-Name: Cristina Elena DUMITRU Author-Email:cristinaedumitru@gmail.com Author-Workplace-Name: Politehnica Bucharest University Title: The rights of shareholders – basic principle of corporate governance by means of case-specific jurisprudence Abstract: Respecting shareholders’ rights represents one of the fundamental principles of corporate governance, underpinning the establishment of economic entities, as a form of association of individuals and / or legal entities in order to carry out profit-oriented activities. However, there are situations in which the management, the other shareholders, or even the authorities, do not respect certain shareholders’ rights, leading to a number of negative effects, such as the closing of companies. Based on these considerations, in this paper, we set as research objective to analyze the circumstances, which may affect shareholders’ rights. To meet the research objectives, we analyzed the case-specific jurisprudence published by the courts of law till 31st of December 2015. The results of the study show that the shareholders’ rights, which are not respected, include: the property right, the right to receive dividends, the right to participate and vote in the general assemblies of shareholders, the right to be elected in the governing bodies, and not the least, the most important one in accounting terms, the right to be informed. Classification-JEL: D72, F53, G15, K33, M16, M41 Keywords: corporate governance, the right to be informed, property right, the right to receive dividends, the right to vote, governing bodies Pages: 401 Volume: 14 Issue: 136 Year: 2016 Month: Aprilie File-URL: http://revista.cafr.ro/temp/Article_9466.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:14:y:2016:i:136:p:401 Template-Type: ReDIF-Article 1.0 Author-Name: Salau ABDULMALIK O. Author-Email:abdmaliksalau@gmail.com Author-Workplace-Name: University Utara Malaysia Author-Name: Ayoib CHE AHMAD Title: Boardroom diversity and audit fees: director ethnicity, independence and nationality Abstract: This paper investigated the effect of boardroom diversity (herein a composite measure of boardroom ethnic composition, independent and foreign directors) on audit fees in the Nigerian context. A sample of companies listed on the Nigerian stock exchange between 2010 and 2011 was used. The study found that 51% of the sampled companies were ethnically diverse, with about 21% and 49% having foreign directors and independent directors respectively. Further, the results of the panel regression revealed that boardroom diversity had a positive relationship with audit fees. The findings indicate that boardroom diversity enhances board monitoring responsibility and therefore results in an increase in demand for auditors’ effort. The findings of this study have implications for future policy recommendations and formulation because they indicate that boardroom diversity could be a desirable board characteristic that can strengthen the monitoring role of the board. Classification-JEL: M42, A14 Keywords: Diversity, ethnicity, foreign directors, independent directors, Nigeria. Pages: 413 Volume: 14 Issue: 136 Year: 2016 Month: Aprilie File-URL: http://revista.cafr.ro/temp/Article_9467.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:14:y:2016:i:136:p:413 Template-Type: ReDIF-Article 1.0 Author-Name: Ionela-Corina CHERSAN Author-Email:macov@uaic.ro Author-Workplace-Name: „Alexandru Ioan Cuza” University of Ia?i, Romania Title: Corporate responsibility reporting according to Global Reporting Initiative: an international comparison Abstract: The Global Reporting Initiative (GRI) is an organization that has managed to impose its reporting practices on corporate responsibility among large transnational companies. The model proposed by GRI is based on the supposed convergence between the economic, social and environmental dimensions of sustainable development. This convergence can be presumed at macroeconomic level, but at the level of enterprises, the three dimensions are often divergent. By analyzing the structure of reports included in the GRI database, our article aims to identify the factors that impact on company’s behavior in the corporate responsibility reporting process. In addition, our research invites to answer the following question: is it not possible that these reports attempt to exaggerate company environmental and social performance, rather than to cause a change in their conduct? Classification-JEL: M14, M48 Keywords: GRI, OECD, corporate reporting, corporate social responsibility, empirical study Pages: 424 Volume: 14 Issue: 136 Year: 2016 Month: Aprilie File-URL: http://revista.cafr.ro/temp/Article_9468.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:14:y:2016:i:136:p:424 Template-Type: ReDIF-Article 1.0 Author-Name: Silviu DU?ULESCU Author-Email:silviudemetrius@yahoo.com Author-Workplace-Name: The Bucharest University of Economic Studies Author-Name: Ileana NI?ULESCU-ASHRAFZADEH Author-Email:ileana.nisulescu@cig.ase.ro Author-Workplace-Name: The Bucharest University of Economic Studies Title: An analysis of corruption: the American continent versus Romania Abstract: Corruption has become one of the most vicious mass phenomena, affecting, in most cases, the general wealth of the population. The paper closely surveys a set of measurable variables which have a very high impact over the dimensions of corruption as a phenomenon. Two of the aforementioned variables are part of a bureaucratic component, specific to the public system – the number of taxes, duties and contributions that an economic entity has to pay for the right to conduct business on the territory of a state, and the amount of time assigned for the payment of the duties for a year’s interval. The variable, generally called the taxation level, assumes an economic perspective over the phenomenon of corruption, which may be encouraged or, on the contrary, inhibited by the government’s fiscal strategy. The last component, called Human Development Index (HDI), assumes a social perspective over corruption, surveying the people’s behavior, which is also able to amplify or decrease the dimensions of corruption as a phenomenon. The whole scientific attempt is synthesized in the form of a corruption map, based on the estimated spread of the phenomenon for each surveyed country. Classification-JEL: C31, D11, O11 Keywords: Corruption, Country charts, Corruption map, American Continent Pages: 436 Volume: 14 Issue: 136 Year: 2016 Month: Aprilie File-URL: http://revista.cafr.ro/temp/Article_9469.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:14:y:2016:i:136:p:436 Template-Type: ReDIF-Article 1.0 Author-Name: Richard POSPÍŠIL Author-Email:richard.pospisil@upol.cz Author-Workplace-Name: Department of Applied Economics, Faculty of Arts, Palacký University of Olomouc Title: The macroeconomic analysis of public goods and their influence in the region of Czech Republic Abstract: In the region of Czech Republic, the provision of public goods is one of the State’s most important activities with society-wide impacts. Therefore, the debate on the structure and scope of public budgets is legitimate and ongoing on a society-wide scale. Mainstream fiscal theory considers public goods to be one of the failures of market equilibrium, classifying them as being close to positive externalities. In this case, the activity of the State brings benefits to other entities that are not involved in this activity and do not even directly pay for it. The main characteristics of these goods include irreducibility of their amount in society, non-excludability and non-rivalry. There are a number of goods between purely private and purely public goods which, to varying extents, exhibit both elements. Today, the majority of goods provided by the public sector are of such a nature; as a result, the form of allocation and the subsequent redistribution of resources are crucial when analysing public goods. The present paper analyses public goods in the Czech Republic from an economic and legal perspective using Cost-Benefit Analysis, including their efficiency and society-wide benefits. Classification-JEL: E61, E62 Keywords: Public goods, public economics, benefit, efficiency, free-rider problem, Cost Benefit Analysis, Czech Republic. Pages: 444 Volume: 14 Issue: 136 Year: 2016 Month: Aprilie File-URL: http://revista.cafr.ro/temp/Article_9470.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:14:y:2016:i:136:p:444