Corporate Governance

• Author: Dragos-Mihail Daghie
• Position: Dunarea de Jos University of Galati, Faculty of Juridical, Social and Political Sciences
• Pages: 68-73

European Integration -

Realiti

68

“Dunărea de Jos” Universi

Abstract:

The purpose of this stu

of a co mpany limited by share

created this form of controlling t

define what it wants to achieve

german-

roman commercial law s

in Romania in 2006) but in term

Smith: The Wealth of Nations) T

rules that companies must comp

both shareholders and for the m

efficiency and economic growth

governance assumes a series of r

the other people concerned. Als

company’s targets are set out

and

Keywords

: company; manageme

1.

The Notion of Corporate G

From an etymological standpoin

Greek and Latin. The word

corpo

turn, transforms itself in the Lati

corporation represents a body of

whole, on its own behalf. The w

meaning leadership,

managemen

which means to direct, to lead, to

Recently introduced in the Roma

defined in the O.E.C.D.

2

Princip

order to obtain an efficient, tra

shareholders.

According to O.E.

1

See also F. Stârc-Meclejan,

Reflectare

administraţie al societăţii pe acţiuni

(Re

stock company’s board of directors)

, w

Conference held by the Faculty of Law w

2

Organization for Economic Co-

operatio

3

O.E.C.D. Principles, 2004.

lities and Perspectives

Corporate Governance

Dragoș-Mihail Daghie

ersity of Galati, Faculty of Juridical, Social and Pol

dragosdaghie@daghiesiasociatii.ro

study is to analyze and understand the recently introduced form

ares. The Law no. 441/2006, which fundamentally amended

g the company, the corporate go

vernance, but the legislation d

eve through this instrument. This topic is recent in research

w systems (in French corporate governance system was introd

rms of Anglo

-

Saxon law, the topic has been addressed years s

) The concept of corporate governance would like, as a result,

mply in orde

r t o achieve effective governance, transparent a

minority.

Corporate governance is a key element with an a

wth in full accordance with the increase of investors’ confi

f relationship between the company management, leadership,

Also corp orate governance provides for that structure by me

and the means to achieve them and also the manner how to mo

ment; investor

e Governance

oint, the notion of „corporate governance” has it

rporate

is derived from the Latin corpus,

which me

atin verb

corporare standing

for „forming into a s

of persons that is a group of persons authorized

word “governance” comes from the Latinized Gr

ent. This

gubernatio

comes, in turn, from ancien

to guide, to behave like a pilot

1

.

manian company legal system, the notion of corpo

ciples by establishing rules that commercial socie

transparent and beneficial administration, for bot

.E.C.D.

3

corporate governance is a key element i

n

area principiilor guvernanţei corporative asupra reformei reg

(Reflecting the principles of corporate governance on the refo

, within

„Pandectele române” –

supplement to the Works o

within West

University of Timişoara 2006, 2007, page 624 a

ation and Development

2011

olitical Sciences,

orm of management

ded Company Law,

n does not explicitly

rch as the theme of

roduced in 1966 an

d

s since 1776 (Adam

lt, to establish some

t and beneficial for

n aim at improving

nfi

dence. Corporate

ip, shareholders and

means of which the

monitor such.

s its origins in ancient

means body, which, in

a single body”, while a

ed to behave, act as a

Greek

– “gubernatio”,

ient Greek

- kybernao

porate governance was

cieties must respect in

both major and minor

n view of improving

reglementării consiliului de

eform of regulating t he joint

of International Bi

-annual

4 and following.