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Theoretical and Applied Economics
No. 2 / 2009 (531)

Minority Shareholders’ Protection: the Romanian Experience

Victor Dragota
Anamaria Ciobanu
Delia Catarama
Andreea Semenescu
Carmen Maria Lacatus
Academy of Economic Studies, Bucharest

Abstract. This paper performs an analysis of the regulation regarding minority shareholders protection in Romania. The paper estimates the level for minority shareholders protection based on the Pistor, Raiser and Gelfer (2000) index during the period 1996-2008. This index improved from 13 (January 1996) to 17.25 (March 2008) having a maximum value of 17.75 during May 2002- November 2006.

Keywords: corporate governance; minority shareholders protection; Romania.

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