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Consistency of corporate governance statements with the Corporate Governance Code provisions. The case of Romanian oil market

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  • Tatiana Dănescu

    („George Emil Palade” University of Medicine, Pharmacy, Science and Technology of Târgu Mureș, 38 Gheorghe Marinescu street, Târgu Mureș, 540139, România)

  • Maria-Alexandra Popa

    („George Emil Palade” University of Medicine, Pharmacy, Science and Technology of Târgu Mureș, 38 Gheorghe Marinescu street, Târgu Mureș, 540139, România)

Abstract

The purpose of corporate governance is to achieve a responsible and value-oriented control of a company. The corporate governance provisions promote and strengthen the confidence of current and future shareholders, creditors, employees, business partners and the general public in national and international markets. For the resilience of financial markets but also for sustainable economic development it is crucial as a governance practice of companies listed on financial markets to be enshrined in the current corporate governance codes’ provisions. Therefore, the approaches of this research bring to the public's attention the conformity of the corporate governance declarations of companies from oil industry that trade shares on the Bucharest Stock Exchange. The results show that, in 2019, the analyzed companies register a high level of compliance with the provisions of the Corporate Governance Code applicable on the Romanian financial market.

Suggested Citation

  • Tatiana Dănescu & Maria-Alexandra Popa, 2020. "Consistency of corporate governance statements with the Corporate Governance Code provisions. The case of Romanian oil market," Acta Marisiensis. Series Oeconomica, "George Emil Palade" University of Medicine, Pharmacy, Sciences and Technology of Târgu-Mureș, România - Faculty of Economics and Law, vol. 2, pages 1-8, December.
    • Handle: RePEc:pmu:oecono:v:2:y:2020:p:1-8
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    References listed on IDEAS

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    1. Elena Merino & Montserrat Manzaneque-Lizano & Jesus Sanchez-Araque, 2019. "Sustainability and Corporate Governance: Transparency and Excessive Directors’ Remuneration in Listed Companies during the Global Financial Crisis," Sustainability, MDPI, vol. 12(1), pages 1-19, December.
    2. Delia Deliu, 2020. "Corporate Governance in Romania: Academic Literature Review and Research Perspectives," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 898-908, August.
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    Keywords

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    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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