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Corporate Governance And Performance In The Context Of Sustainable Development

Author

Listed:
  • Mirela-Oana PINTEA

    (Babeș-Bolyai University, Faculty of Economics and Business Administration)

  • Melinda Timea FÜLÖP

    (Babeș-Bolyai University, Faculty of Economics and Business Administration)

Abstract

The characteristic elements of the new economy require economic entities new performance standards that go beyond economics. These standards should be integrated into corporate strategy development to ensure sustainability of activities. Globalization affects corporate governance reforms currently characterized by what we call corporate responsibility and transparency. Companies are pressed to provide in addition to financial information the non-financial information, which focus on social and environmental impact of their activities and the way sustainability related constraints are integrated into their strategy for achieving organizational success. This paper highlights the changes imposed by sustainable development on corporate governance regarding the increased information that stakeholders need and the way performance is seen, as a holistic concept. Today, corporations are challenged to meet through performance the values, interests and expectations of society. The main objective of a corporate governance system is to assure a sustainable growth of the company taking into consideration the new standards imposed by the requirements of sustainable development.

Suggested Citation

  • Mirela-Oana PINTEA & Melinda Timea FÜLÖP, 2014. "Corporate Governance And Performance In The Context Of Sustainable Development," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 5, pages 519-526, November.
    • Handle: RePEc:cmj:seapas:y:2014:i:5:p:519-526
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    References listed on IDEAS

    as
    1. Melinda Timea FÜLÖP & Mirela-Oana PINTEA, 2014. "Effects Of The New Regulation And Corporate Governance Of The Audit Profession," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 4, pages 545-554, July.
    2. Shleifer, Andrei & Vishny, Robert W, 1997. "A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    3. Pintea Mirela-Oana, 2012. "Performance Evaluation: Literature Review And Time Evolution," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 753-758, July.
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    Cited by:

    1. Zieita Younes & Chenag Samiha, 2019. "Local Citizens Influence on the Company’s CSR Communication," Marketing – from Information to Decision Journal, Sciendo, vol. 2(2), pages 51-56, December.

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    More about this item

    Keywords

    Corporate governance; Transparency; Responsibility; Performance;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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