From Government to Governance in the Public Water Resources Field Organisations - the Importance of the Legal Framework

According to the principles of corporate governance in public organizations, set up by the Organisation for Economic Cooperation and Development based on the most advanced legislative standards and best practices of corporations, it was necessary to create legislative measures to guarantee the objectivity and transparency when the management and the members of the administration bodies are elected, to guarantee both professionalism and responsibility in the management decisions, additional mechanisms for the rights of minority shareholders and increased transparency to the public both in the activity of the state companies and in the shareholding policy of the Romanian state. This research is aimed to highlight the importance of the legislative support in improving the corporate governance for public organizations and in stopping the perpetuation of the dysfunctionalities in the activity of the independent administrations and companies owned in majority or in full by the state, which used to impede the ability of these entities to influence the balance of the state budget.