Corporate Governance of State-Owned Enterprises in Romania

Abstract

Corporate governance is one key element in improving economic efficiency and growth as well as enhancing investor confidence, according to the OECD. This statement is true for both state-owned and private companies. The aim of this study is to review from a legal perspective the evolution of corporate governance policies in Romanian state-owned or state-controlled enterprises, the corporate governance experience under the current government emergency ordinance on the subject adopted in 2011 and to examine the draft legislation for 2022, which aims to “revolutionize” the current system by amending the norm in question.