ISSN 2167-0439
International Journal of Management and Business Studies ISSN 2167-0439 Vol. 9 (2), pp. 001-011, February, 2019. © International Scholars Journals
Full Length Research Paper
Comparative legal perspectives on international models of corporate governance
Niculae Feleag , Liliana Feleag * and Voicu D. Dragomir
Faculty of Accounting and Management Information Systems, Department of International Accounting, Bucharest Academy of Economic Sciences, Bucharest, Romania.
Accepted 15 November, 2018
Abstract
The present paper aims to provide an interpretation of leading corporate governance paradigms, through several case studies involving four developed economies (that is, the US, the UK, Canada and France) that have implemented either principle-based or rule-based corporate governance systems. A supplementary case study involving Romania, an emerging country, seeks to provide valuable insight into the inconsistencies of applying such a refined corporate governance system to an emerging market. From a methodological standpoint, preeminence is given to a comparative and critical approach. Finally, we ask the following question: which are the most appropriate ways to insure the crystallization of legal aspects concerning corporate governance, in the context of international diversity and, sometimes, divergence?
Key words: Corporate governance, comparative approach, international evidence, United Kingdom, European Union convergence, financial markets, agency theory.