Conceptual Analysis of Corporate Governance Codes in Romania, Hungary and Bulgaria: Accountability or Enterprise?
Author:
Sorana Mihaela MĂNOIU, Ph. D. Student
JEL:
G30, G39
DOI:
Keywords:
corporate governance, accountability, enterprise, entrepreneurship, conceptual analysis
Abstract:
Results of previous research literature document that countries around the world are significantly moving towards developing the corporate governance systems, proposing and promoting good corporate governance. The main objective of this study is to document, through conceptual analysis, if corporate governance codes in Romania, Hungary and Bulgaria are structured towards achieving corporate accountability or promoting the entrepreneurial synthesis of corporate entities. After coding these two concepts, each being identified with a total number of 30 related words, the author calculated the concept frequency of occurrence and intensity for "entrepreneurship" and "responsibility". The results obtained after the developed quantitative analysis, suggests that in these three countries, corporate governance codes are directed more towards promoting entrepreneurship, management, business to the detriment of corporate accountability compliance and control. In the case of Romania, Hungary and Bulgaria, the twist of focus from accountability to enterprise is least expected, as they are ex-communist states and it is expected the communist system, its states control and regulation attributes to still be important in the design of the countries’ corporate governance codes.