Corporate Governance Country Assessment : Romania
This report provides an assessment of
the corporate governance policy framework, and enforcement
and compliance practices in Romania, and updates the
assessment completed in 2002. Strengths and weaknesses are
highlighted and policy recommendations formulated. The major
issues are driven by Romania's effort to join the
European Union (EU), and the continuing transformation of
the Romanian capital markets. Legislative changes in recent
years have improved the corporate governance framework. The
report notes several areas for further improvement. It
recommends that policymakers consider 1) giving a clear
mandate to the CNVM (National Commission on Real Estate
Values) to protect shareholder's rights, and, in
providing additional resources to allow implementation of
this mandate; 2) protecting shareholder rights for all
publicly held companies, including the less active Rasdaq
companies; 3) moving forward on the creation of a Corporate
Governance Institute, to both provide training to board
members, and develop a new Corporate Governance Code,
refocused on the role of the board of directors; and, 4)
revising the Company Law, with emphasis on shareholder
rights, and that of the board of directors.
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Bibliographic Details
| Main Author: |
World Bank |
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| Language: | English
en_US |
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| Published: |
Washington, DC
2004-04
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| Subjects: | ACCESS TO INFORMATION,
ARBITRAGE,
ASSETS,
AUTHORITY,
AUTHORIZATION,
AUTHORIZED CAPITAL,
BANKRUPTCY,
BENCHMARKS,
BID,
BOOK VALUE,
CAPITAL MARKETS,
CHARTERS,
COMPANY,
COMPANY LAW,
COMPANY MANAGEMENT,
COMPETITORS,
CONSUMERS,
CORPORATE CONTROL,
CORPORATE GOVERNANCE,
CORPORATE INFORMATION,
CORPORATE OWNERSHIP,
CORPORATION,
CORPORATIONS,
DISCLOSURE,
DISCLOSURE REQUIREMENTS,
DISCLOSURE RULES,
DIVIDENDS,
EXECUTION,
FINANCIAL INFORMATION,
FINANCIAL PERFORMANCE,
FIRMS,
FOREIGN SHAREHOLDERS,
GDP,
INSIDER DEALING,
INSIDER TRADING,
INSIDER TRANSACTIONS,
INSTITUTIONAL FRAMEWORK,
INSTITUTIONAL INVESTORS,
INTERNATIONAL FINANCE,
INTERNATIONAL NORMS,
INVESTMENT CLIMATE,
INVESTMENT COMPANIES,
INVESTMENT SERVICES,
INVESTOR PROTECTION,
JOINT STOCK COMPANIES,
LEGAL ACTION,
LEGISLATION,
LEGISLATIVE CHANGES,
LISTED COMPANIES,
MERGERS,
MINISTRY OF FINANCE,
MINORITY SHAREHOLDERS,
MUTUAL FUNDS,
OWNERSHIP DISCLOSURE REQUIREMENTS,
OWNERSHIP STRUCTURE,
PRIVATIZATION AGENCY,
PRIVATIZATION POLICY,
PUBLIC FINANCE,
PUBLIC INSTITUTIONS,
REGULATORY FRAMEWORK,
REPRESENTATIVES,
SHARE CAPITAL,
SHAREHOLDER MEETING,
SHAREHOLDER MEETINGS,
SHAREHOLDERS RIGHTS,
STATE ENTERPRISES,
STATEMENT,
STATEMENTS,
STRATEGIC INVESTORS,
SUPPLIERS,
TAKEOVER,
TOTAL MARKET CAPITALIZATION,
TRANSPARENCY,
UNEMPLOYMENT,
VALUATION,
VALUING ASSETS,
VETO,
VOTING,
WEALTH, |
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| Online Access: | http://documents.worldbank.org/curated/en/2004/04/6588835/romania-report-observance-standards-codes-rosc-corporate-governance-country-assessment
https://hdl.handle.net/10986/14482
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