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- Title
CORPORATE GOVERNANCE - KEY FACTOR TO ENHANCE PERFORMANCE.
- Authors
PINTEA, M. O.; FULOP, M. T.
- Abstract
Corporate governance is a topic of great interest in the current economic climate being widely debated in scientific economic papers and can be defined as the system by which companies are directed and controlled, but also can be seen as the relationships between companies and their stakeholders. In correlation to firm performance, corporate governance assures the framework in defining the firm objectives and the means by which these can be achieved, also assuring the monitoring of obtained results. The issue raised by both practitioners and academicians is whether corporate governance can really enhance performance, this being more highlighted in the current development of economy. It is widely believed that the existence of an effective system of corporate governance in terms of helping to build a high degree of confidence and trust is absolutely necessary for proper functioning of a market economy and that good corporate governance is a factor in improving firm value and performance for both developed and developing economies. Even though among empirical literature there is no consensus on whether corporate governance has a positive impact on firm performance, there are a lot of studies that sustain the association between corporate governance (through individual values or indexes) and high firm performance.
- Subjects
CORPORATE governance; ORGANIZATIONAL performance; ECONOMIC development; BUSINESS valuation; STAKEHOLDERS
- Publication
Managerial Challenges of the Contemporary Society, 2015, Vol 8, Issue 2, p116
- ISSN
2069-4229
- Publication type
Article