IDEAS home Printed from https://ideas.repec.org/a/alu/journl/v2y2024i26p4.html

Corporate Governance And Performance Of Romanian State-Owned Enterprises: Assessing Transparency And Accountability Levels

Author

Listed:
  • Ioana Andreea CIOLOMIC

    (“1st December 1918†University)

Abstract

This article examines the impact of transparency, a key aspect of good governance, on the performance and audit opinions of Romanian state-owned enterprises (SOEs). A transparency and corporate governance disclosure index (DI) was developed and analyzed by applying an econometric model. The results show that compliance with corporate governance laws has not improved SOE financial performance but reveals a significant correlation between transparency levels and audit opinions. The mixed objectives of state-owned enterprises and the (inappropriate) performance measurement tools for these types of companies are key factors influencing the results obtained. This research provides insights for public managers and board members to enhance SOE efficiency and compliance with corporate governance regulations.

Suggested Citation

  • Ioana Andreea CIOLOMIC, 2024. "Corporate Governance And Performance Of Romanian State-Owned Enterprises: Assessing Transparency And Accountability Levels," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(26), pages 1-4.
    • Handle: RePEc:alu:journl:v:2:y:2024:i:26:p:4
    as

    Download full text from publisher

    File URL: http://oeconomica.uab.ro/upload/lucrari/2620242/04.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Lin, Justin Yifu & Li, Zhiyun, 2008. "Policy burden, privatization and soft budget constraint," Journal of Comparative Economics, Elsevier, vol. 36(1), pages 90-102, March.
    2. Han Yu & Abraham Y. Nahm & Zengji Song, 2022. "The power source of Chinese state-owned enterprise leaders, investigation of local core officials, and corporate investment behavior," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 27(2), pages 223-247, April.
    3. Jonathan Fox, 2007. "The uncertain relationship between transparency and accountability," Development in Practice, Taylor & Francis Journals, vol. 17(4-5), pages 663-671.
    4. Fox, Jonathan A, 2007. "The uncertain relationship between transparency and accountability," Center for Global, International and Regional Studies, Working Paper Series qt8c25c3z4, Center for Global, International and Regional Studies, UC Santa Cruz.
    5. Alan K. Styles & Mack Tennyson, 2007. "The accessibility of financial reporting of u.s. municipalities on the internet," Journal of Public Budgeting, Accounting & Financial Management, Emerald Group Publishing Limited, vol. 19(1), pages 56-92, March.
    6. Marinko Škare & Tea Hasić, 2016. "Corporate governance, firm performance, and economic growth -- theoretical analysis," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 17(1), pages 35-51, February.
    7. Mohd Hassan Che Haat & Rashidah Abdul Rahman & Sakthi Mahenthiran, 2008. "Corporate governance, transparency and performance of Malaysian companies," Managerial Auditing Journal, Emerald Group Publishing Limited, vol. 23(8), pages 744-778, September.
    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. Ahmad, Nglaa & Haque, Shamima & Islam, Muhammad Azizul, 2024. "Modern slavery disclosure regulations in the global supply Chain: A world-systems perspective," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 99(C).
    2. Hoeft, Leonard & Mill, Wladislaw, 2024. "Abuse of power," Journal of Economic Behavior & Organization, Elsevier, vol. 220(C), pages 305-324.
    3. Brunnschweiler, Christa & Lujala, Päivi & Putri, Primi & Scherzer, Sabrina & Wardhani, Indah, 2025. "When petroleum revenue transparency policy meets citizen engagement reality: Survey evidence from Indonesia," Ecological Economics, Elsevier, vol. 230(C).
    4. Meinel, Max-Gerrit, 2023. "Transparenz und organisationale Legitimität: Eine experimentelle Studie am Beispiel eines fiktiven Unternehmens [Transparency and organizational legitimacy: an experimental study based on a fictiti," Junior Management Science (JUMS), Junior Management Science e. V., vol. 8(4), pages 926-954.
    5. Hayden, Anders, 2025. "Buzzword or breakthrough beyond growth? The mainstreaming of the Wellbeing Economy," Ecological Economics, Elsevier, vol. 227(C).
    6. Mayskaya, Tatiana & Nikandrova, Arina, 2023. "The dark side of transparency: When hiding in plain sight works," Journal of Economic Theory, Elsevier, vol. 212(C).
    7. Secinaro, Silvana & Lanzalonga, Federico & Oppioli, Michele & de Nuccio, Elbano, 2025. "The effects of disruptive technologies on accountability in fintech industry: Using bibliometric analysis to develop a research agenda," Research in International Business and Finance, Elsevier, vol. 76(C).
    8. Timothy Masuni Nagriwum & Wiredu Richard & Sufyan Sannah Gbolo & Matthew Kuunyig & Donkor Seth & Miranda Abeseyine Amokase, 2023. "Transparency and Accountability in Local Government Financial Management in Ghana: A Case of Sunyani West Municipal Assembly," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(9), pages 689-710, September.
    9. Antonio Prencipe, 2025. "Accountability Between Compliance and Legitimacy: Rethinking Governance for Corporate Sustainability," Sustainability, MDPI, vol. 17(20), pages 1-17, October.
    10. Urman, Aleksandra & Makhortykh, Mykola, 2023. "How transparent are transparency reports? Comparative analysis of transparency reporting across online platforms," Telecommunications Policy, Elsevier, vol. 47(3).
    11. repec:plo:pone00:0241496 is not listed on IDEAS
    12. Yasuyuki Todo & Tomohiko Inui & Yuan Yuan, 2014. "Effects of Privatization on Exporting Decisions: Firm-level Evidence from Chinese State-owned Enterprises," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 56(4), pages 536-555, December.
    13. Zhao, Yan & Su, Kun, 2022. "Economic policy uncertainty and corporate financialization: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 82(C).
    14. Dhouha Bouaziz, 2025. "Does External Audit Quality Moderate the Relationship Between CEO Entrenchment and Financial Communication Quality? Evidence from French Companies," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 15(3), pages 101-129.
    15. Yousef Hassan, 2025. "Board gender diversity and ownership structure: Are they substitutes or complementary? Evidence from Palestine," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 22(1), pages 109-124, March.
    16. Cheng, Yuk-Shing & Chung, Kim-Sau, 2013. "Too many mothers-in-law?," Journal of Development Economics, Elsevier, vol. 105(C), pages 69-76.
    17. Olga I. Timofeeva, 2022. "Methodology and Results of Measuring the Transparency of Russian Regional Budgets," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 44-58, December.
    18. Noor Rohin Awalludin & Nisrin Ishak & Norizzatul Fazriyana Rohizat, 2025. "Bridging the Transparency Gap: A Case Study of Corporate Governance and Performance in a Perak State Government Agency," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(14), pages 2137-2143, September.
    19. Xu, Kefan & Yuan, Peng & Yu, Renjie, 2025. "The effects of mixed ownership reforms on Chinese firms’ emissions," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 191-209.
    20. Lin, Justin Yifu, 2016. "Will China continue to be the engine of growth in the world," Journal of Policy Modeling, Elsevier, vol. 38(4), pages 683-692.
    21. Jiayao Cai & Qiong Chen & Zirun Zhang, 2024. "Balancing Environmental Sustainability and Economic Development: Perspectives from New Structural Economics," Sustainability, MDPI, vol. 16(3), pages 1-17, January.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General

    Statistics

    Access and download statistics

    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:alu:journl:v:2:y:2024:i:26:p:4. 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: Dan-Constantin Danuletiu (email available below). General contact details of provider: .

    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.