Aspects Concerning Corporate Governance in the Danube Region Countries
Keywords:
corporate governance, challenges, effects, economic developmentAbstract
This study provides a comprehensive analysis of corporate governance practices across countries in the Danube region. Corporate governance frameworks vary significantly within this region due to diverse economic, legal, and cultural influences. The analysis examines the implementation of key corporate governance principles, including transparency and disclosure, board accountability, and shareholder rights.
Countries like Austria and Germany adhere to a dual-board system, separating management and oversight roles, while others, such as Bulgaria and Romania, primarily employ a unitary board structure. The findings underscore progress made in aligning with international governance standards, driven by integration into the European Union and global economic pressures.
Challenges persist, including corruption risks, political interference, and uneven enforcement of regulations, particularly in countries undergoing economic transition. The study highlights the ongoing need for reforms to enhance corporate governance effectiveness, promote investor confidence, and sustain economic development in the Danube region.
References
Fylypenko, O., Makoukh, I., & Savchenko, A. (2014). The Danube Strategy and its Impact on the Process of Ukraine-EU Rapprochement. Journal of European Integration Studies, 8(2), 134-146.
Gänzle, S. (2017). Macro-regional strategies of the European Union (EU) and experimentalist design of multi-level governance: the case of the EU strategy for the Danube region. Regional & Federal Studies, 27, 1-22.
Laiko, O., Kwiliński, A., Pushak, Y., & Shatnenko, K. (2022). Institutional Aspects of Cross-Border Cooperation Development of the Ukrainian Danube Region in the Context of Cohesion Policy. Economic innovations.
Li, H., Terjesen, S., & Umans, T. (2018). Corporate Governance in Entrepreneurial Firms: a Systematic Review and Research Agenda. Small Business Economics.
Maslov, Y. (2019). Transformational Aspects of the European Union Strategy for the Danube Region. Baltic Journal of Economic Studies, 5(3), 108-115.
Michelberger, K. J. (2016). Corporate Governance Effects on Firm Performance: a Literature Review. Regional Formation and Development Studies.
Mahadeo, J., & Soobaroyen, T. (2016). A Longitudinal Study of the Implementation of the Corporate Governance Code in a Developing Country. Business & Society.
Naciti, V., Cesaroni, F., & Pulejo, L. (2021). Corporate Governance and Sustainability: a Review of the Existing Literature. Journal of Management and Governance.
Okamoto, N. (2024). The Pursuit of Better Corporate Governance. In Institutional Change and Performativity, 177-209. Springer.
Proroković, D. (2019). The Danube Macro-Regional Strategy and Initiatives: The Case of Serbia. Danube: Law and Economics Review, 10(2), 181-198.
Singh, K., & Pillai, D. (2021). Corporate Governance in Small and Medium Enterprises: a Review. Corporate Governance: The International Journal of Business in Society.
Zapodeanu, D., Lucia, Kolozsi, L. & Durgheu., L. (2010). Applyng The Principles Of Corporate Governance In Central And Eastern European Countries, The National Characteristics And Particularities Of Corporate Governing In The Romanian Economy, Annales Universitatis Apulensis Series Oeconomica, 12(1), 347-354.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Alina Hagiu, Marinela Bărbulescu, Cristina Bâldan
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
The author fully assumes the content originality and the holograph signature makes him responsible in case of trial.
