Suchergebnisse

The corporate governance as a regulatory system has started a journey towards independence for a while, and sooner or later it will turn into a self-standing field of science. This process is facilitated not only by its transdisciplinary nature, which combines legal science with economic science, within the civil law, the corporate law, business economics, management and organizational science, but also, in the case of state-owned companies, with public administration and proceedings law. The timeliness of the topic is illustrated by the prolonged transition to market economy following the 1989 regime change, the controversial application of company law, the scandals around certain privatization processes, the bankruptcy of many important state-owned enterprises, all of these bringing about a willingness to establish a regulatory framework. Taking into consideration the above short presentation, the subject of our analysis is very complex; this article intends to limit the examination to the Bucharest Stock Exchange Corporate Governance Code, investigating it in comparison to the provisions of the Romanian legal system. At the same time, it sets as an objective to make use of a concrete example (the most important Romanian state-owned joint stock company listed at the Bucharest Stock Exchange), Romgaz, in order to present the reader the ways and circumstances of the implementation of the general principles and provisions to comply with , as included in the Code.

"In the preface of the analysis of the present study on law and economics, I kindly appreciate the work of a law professor who was a great personality in the education of company law during the last century in Cluj-Napoca and Budapest as well. At the same time, the philosophers, influential thinkers, and different scientists have been concerned with the theory of organizational and management behaviour over the years. "The precondition of an efficient management of the organization" – in this case the state-owned enterprises – "is either a very thorough research or co-existence with the organization". In the last century, the profession was centred around the three main directives: the modern, the symbolical, and the postmodern perspective. The state-owned enterprises as economic operators and the public authorities as competent holders of ownership rights of the state organizations can be used for drawing conclusions based on the comparative analysis of the organizational and management behaviour theory. The Organization for Economic Co-Operation and Development elaborated the guidelines of corporate governance of the state-owned companies. These recommendations contribute to the development of a reliable, predictable, and transparent economic environment. While we closely analyse the organizational and management behaviour theory, we can familiarize ourselves with the structure of the organization, its organizational methods (management), and it provides the opportunity to appreciate the interaction of the workers from a contrasting perspective. The aim is to facilitate awareness and sensitivity towards management progress through recognizing the organizational factors of workers' behaviour and performance."