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Harmonization Of National Rules With The New International Recommendations On Corporate Governance. Case Study From Insurance Companies In Romania

Author

Listed:
  • Adrian Doru, Bîgioi

    () (Bucharest University of Economic Studies)

  • Cristina Elena, Bîgioi

    () (Politehnica University of Bucharest)

Abstract

The principles on corporate governance issued internationally have undergone a review process in recent years. Authorities and professional accounting bodies have made efforts to implement them. Based on these considerations, this study aims to analyze the stage of implementation of these recommendations to the insurance companies from Romania. As credit institutions, these entities have a very important role in the economy of a country and the experience of past years has shown that poor corporate governance has contributed significantly to the outbreak of the financial crisis. To prevent a series of negative effects in the Romanian economy, we believe that even the insurance companies should consider implementing the principles of corporate governance in their work. The results of the study show that the entities which made the subject of the research are in the early stages of introducing these international recommendations.

Suggested Citation

  • Adrian Doru, Bîgioi & Cristina Elena, Bîgioi, 2017. "Harmonization Of National Rules With The New International Recommendations On Corporate Governance. Case Study From Insurance Companies In Romania," Management Strategies Journal, Constantin Brancoveanu University, vol. 35(1), pages 105-113.
  • Handle: RePEc:brc:journl:v:35:y:2017:i:1:p:105-113
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    References listed on IDEAS

    as
    1. Ray Ball & S. P. Kothari & Valeri V. Nikolaev, 2013. "Econometrics of the Basu Asymmetric Timeliness Coefficient and Accounting Conservatism," Journal of Accounting Research, Wiley Blackwell, vol. 51(5), pages 1071-1097, December.
    2. Ray Ball & Xi Li & Lakshmanan Shivakumar, 2015. "Contractibility and Transparency of Financial Statement Information Prepared Under IFRS: Evidence from Debt Contracts Around IFRS Adoption," Journal of Accounting Research, Wiley Blackwell, vol. 53(5), pages 915-963, December.
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    More about this item

    Keywords

    corporate governance; financial crisis; international recommendations; insurance companies; stakeholder;

    JEL classification:

    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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