IDEAS home Printed from https://ideas.repec.org/a/rom/mancon/v6y2012i1p756-766.html
   My bibliography  Save this article

The Influence Of European Financial Stability Facility On System Of Governance In European Union Countries

Author

Listed:
  • ELENA CLAUDIA ªERBAN
  • GABRIELA ÞUÞUEANU

Abstract

The European Financial Stability Facility (EFSF), as a company which was agreed by the countries that share the euro on May 9th 2010 and incorporated in Luxembourg under Luxembourgish law on June 7th 2010, have to preserve financial stability of Europe’s monetary union by providing temporary financial assistance to euro area Member States if needed. This article examines in witch way EFSF can influence the system of governance in an emerging economy. We argue that “good governance practices in EU countries are significant presence of European Financial Stability Facility, and cannot mitigate the negative effect of controlling on corporate performance. Most good governance practices are mainly designed to resolve conflicts between shareholders and the management but not conflicts between controlling and minority shareholders. To measure performance in governance, it is important to focus on what the knowledge workers do and hence view knowledge as something one does, namely the practices, instead of something one has. Global governance of distributed employees is therefore successfully managed through key performance measures and through understanding projects through their multiple contributions, at both an individual and an organizational level. Global long term governance needs are strategic for the entire firm. The paper rests on an in-depth case study about implementation of government reliable projects.

Suggested Citation

  • Elena Claudia ªerban & Gabriela Þuãžueanu, 2012. "The Influence Of European Financial Stability Facility On System Of Governance In European Union Countries," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 6(1), pages 756-766, November.
    • Handle: RePEc:rom:mancon:v:6:y:2012:i:1:p:756-766
    as

    Download full text from publisher

    File URL: https://conference.management.ase.ro/archives/2012/pdf/95.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hanna Kuittinen & Kalevi Kyläheiko & Jaana Sandström & Ari Jantunen, 2009. "Cooperation governance mode: an extended transaction cost approach," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 13(4), pages 303-323, November.
    2. Glenn Hoetker & Thomas Mellewigt, 2009. "Choice and performance of governance mechanisms: matching alliance governance to asset type," Strategic Management Journal, Wiley Blackwell, vol. 30(10), pages 1025-1044, October.
    3. Brian Dollery, 2001. "New Institutional Economics And The Analysis Of The Public Sector," Review of Policy Research, Policy Studies Organization, vol. 18(1), pages 185-211, March.
    4. Hensher, David A. & Stanley, John, 2008. "Transacting under a performance-based contract: The role of negotiation and competitive tendering," Transportation Research Part A: Policy and Practice, Elsevier, vol. 42(9), pages 1143-1151, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Paolo Canonico & Ernesto Nito & Gianluigi Mangia & Lorenzo Mercurio & Mario Pezzillo Iacono, 2013. "Regulation issues in the Italian local transport system: aligning transactions and governance structures," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(4), pages 939-961, November.
    2. Han, Shaojie & Su, Jingqin & Lyu, Yibo & Liu, Qing, 2022. "How do business incubators govern incubation relationships with different new ventures?," Technovation, Elsevier, vol. 116(C).
    3. John Stanley, 2011. "Public Transport Liberalization: Achievements and Future Directions," Chapters, in: Matthias Finger & Rolf W. Künneke (ed.), International Handbook of Network Industries, chapter 16, Edward Elgar Publishing.
    4. Lee, Gilsoo & Cho, Sam Yul & Arthurs, Jonathan & Lee, Eun Kyung, 2020. "Celebrity CEO, identity threat, and impression management: Impact of celebrity status on corporate social responsibility," Journal of Business Research, Elsevier, vol. 111(C), pages 69-84.
    5. González-Díaz, Manuel & Montoro-Sánchez, Ángeles, 2011. "Some lessons from incentive theory: Promoting quality in bus transport," Transport Policy, Elsevier, vol. 18(2), pages 299-306, March.
    6. Bodas Freitas , Isabel Maria & Geuna, Aldo & Lawson, Cornelia & Rossi, Federica, 2014. "How Industry Inventors Collaborate with Academic Researchers: The choice between shared and unilateral governance forms," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201401, University of Turin.
    7. Vigren, Andreas & Pyddoke, Roger, 2020. "The impact on bus ridership of passenger incentive contracts in public transport," Transportation Research Part A: Policy and Practice, Elsevier, vol. 135(C), pages 144-159.
    8. Andrea Boitani & Marcella Nicolini & Carlo Scarpa, 2013. "Do competition and ownership matter? Evidence from local public transport in Europe," Applied Economics, Taylor & Francis Journals, vol. 45(11), pages 1419-1434, April.
    9. Jakob Keller & Martin Jung & Rainer Lasch, 2022. "Sustainability Governance: Insights from a Cocoa Supply Chain," Sustainability, MDPI, vol. 14(17), pages 1-23, August.
    10. Thomas Mellewigt & Glenn Hoetker & Martina Lütkewitte, 2018. "Avoiding High Opportunism Is Easy, Achieving Low Opportunism Is Not: A QCA Study on Curbing Opportunism in Buyer–Supplier Relationships," Organization Science, INFORMS, vol. 29(6), pages 1208-1208, December.
    11. Germà Bel & Jordi Rosell, 2016. "Public and Private Production in a Mixed Delivery System: Regulation, Competition and Costs," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 35(3), pages 533-558, June.
    12. Andrea Lodi & Enrico Malaguti & Nicolás E. Stier-Moses & Tommaso Bonino, 2016. "Design and Control of Public-Service Contracts and an Application to Public Transportation Systems," Management Science, INFORMS, vol. 62(4), pages 1165-1187, April.
    13. Odeck, James & Høyem, Harald, 2021. "The impact of competitive tendering on operational costs and market concentration in public transport: The Norwegian car ferry services," Research in Transportation Economics, Elsevier, vol. 90(C).
    14. Finocchiaro Castro, Massimo & Guccio, Calogero & Rizzo, Ilde, 2023. "How "one-size-fits-all" public works contract does it better? An assessment of infrastructure provision in Italy," EconStor Preprints 270729, ZBW - Leibniz Information Centre for Economics.
    15. Massimo Colombo & Liliana Doganova & Evila Piva & Diego D’Adda & Philippe Mustar, 2015. "Hybrid alliances and radical innovation: the performance implications of integrating exploration and exploitation," The Journal of Technology Transfer, Springer, vol. 40(4), pages 696-722, August.
    16. Devarakonda, Ramakrishna & Reuer, Jeffrey J. & Tadikonda, Harsha, 2022. "Founder social capital and value appropriation in R&D alliance agreements," Research Policy, Elsevier, vol. 51(4).
    17. Choi, Young Rok & Phan, Phillip H. & Choi, Jaepil, 2020. "Formal governance, interfirm coordination, and performance in partnerships: An empirical investigation of a mediation model," European Management Journal, Elsevier, vol. 38(3), pages 413-424.
    18. Lee, Nick & Cadogan, John W., 2013. "Problems with formative and higher-order reflective variables," Journal of Business Research, Elsevier, vol. 66(2), pages 242-247.
    19. Roberto Vivona & Mehmet Akif Demircioglu & David B. Audretsch, 2023. "The costs of collaborative innovation," The Journal of Technology Transfer, Springer, vol. 48(3), pages 873-899, June.
    20. Alexandersson, Gunnar & Hultén, Staffan & Jardón, Juan J., 2020. "Hybrid markets in public transport – contract design, performance and conflicts," Research in Transportation Economics, Elsevier, vol. 83(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rom:mancon:v:6:y:2012:i:1:p:756-766. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ciocoiu Nadia Carmen (email available below). General contact details of provider: https://edirc.repec.org/data/mnasero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.