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Corporate governance in state-owned companies in Hungary

Author

Listed:
  • Tekla Papp

    () (National University of Public Service, Faculty of Political Sciences and Public Administration Civilistic Institute, Budapest, Hungary)

  • Ádám Auer

    () (National University of Public Service, Faculty of Political Sciences and Public Administration Civilistic Institute, Budapest, Hungary)

Abstract

At the development and to the comprehension of the regulation it is necessary to ascertain that in our view, the subject of the regulation is the operation of the company. The regulation regulates the problems arising specifically during the course of the operation of the company, as an „ex ante” tool and by the avoidance of that upon the cessation of the public company, any unjustified or inconcievable costs (social costs) should rise. As an example, there are the infamous earlier corporate scandals (Enron, Parmalat, Vivendi Universal), the infringements of which drew critical social (budget) costs, as they left behind unsettled creditors’ claims, plenty of workplaces got terminated, etc. To prevent this, one of the techniques is corporate governance, as it focuses on such mechanisms during the course of the operation of the company as direction and control. With this, the cessation of the company can presumably be avoided, as it is publicly acknowledged that the majority of corporate scandals descend from the faults of leadership, direction and control. Based on the above, we may ascertain that in our perception, under ’corporate governance’ it’s the legal facts or interests relevant in the course of the operation of the company what become regulated in terms of corporate law.

Suggested Citation

  • Tekla Papp & Ádám Auer, 2016. "Corporate governance in state-owned companies in Hungary," Juridical Tribune (Tribuna Juridica), Bucharest Academy of Economic Studies, Law Department, vol. 6(2), pages 22-39, December.
  • Handle: RePEc:asr:journl:v:6:y:2016:i:2:p:22-39
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    Citations

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    Cited by:

    1. Veronika SZIKORA, 2018. "Company Legislation And Reforms In Europe," Curentul Juridic, The Juridical Current, Le Courant Juridique, Petru Maior University, Faculty of Economics Law and Administrative Sciences and Pro Iure Foundation, vol. 72, pages 155-171, January.

    More about this item

    Keywords

    company law; business law; corporate governance; state-owned company;

    JEL classification:

    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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