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Theoretical and Applied Economics
No. 4 / 2013 (581)

Need to implement corporate governance in the Romanian companies

Romanian Academy, National Institute of Economic Research, Bucharest
Corneliu RUSSU
Romanian Academy, Centre for Industrial Economics and Services, Bucharest
Romanian Academy, National Institute of Economic Research, Bucharest
Leonardo BADEA
University Valahia of Târgoviște

Abstract. Under the background of the current economic realities, characterized by uncertainty and mistrust, of increased complexity of the environment in which they operate, the Romanian companies must demonstrate good organization, flexibility, skills, good risk management and be trustworthy economic and social partners. The answer to many of these challenges is provided by a modern management system, which makes proof of more convincing development possibilities, namely corporate governance.

This article is an attempt to summarize the major theoretical and practical issues related to corporate governance models, as well as a vision of the need to apply this management system in the Romanian companies. At the same time, the paper will briefly present the current state of corporate governance system implementation in the Romanian companies.

Keywords: corporate governance; system management; Romanian enterprises.

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