Implications of corporate governance on national economy

Abstract

Nowadays, in the economic environment, but also in the political and social life of Romania, a multitude of elements are present as a concept either from anglo-saxon literature or from well-developed economic environments. Of these, we want to bring into discussion concepts such as market economy, capitalism or democracy, which in our opinion have been understood with a high degree of subjectivism, leaving aside the substrate of each element, substrates such as corporate governance, entrepreneurship or freedom. Through this article, we want to present the impact of corporate governance on the economic environment, viewed as a set of "rules of play" that is highlighted by the fair distribution of rights and responsibilities among various participants in a company, favoring the taking of the best decisions with direct effects on business strategies. This outlines a goal of the paper aimed at presenting aspects of corporate governance as a substrate of a healthy economic environment and exemplifies them through an analysis based on the corporate practice of companies listed on the Bucharest Stock Exchange. JEL: M41, G 30