CORPORATE GOVERNANCE AND STRENGTH OF AUDITING AND REPORTING STANDARDS: A CROSS-COUNTRY SURVEY

The purpose of this cross-country empirical survey is to investigate the relationship between the strength of auditing and reporting standards and some corporate governance characteristics such as efficacy of corporate boards and ethical behaviour of firms. All three variables were captured through the indicators included in the report of World Economic Forum entitled “The Global Competitiveness Report 2012-2013” selected for 144 countries from all over the world. The findings validate the research hypothesis concerning the significant influence of some of the corporate governance dimensions on the strength of auditing and reporting standards, from a cross-country perspective

The Accounting Profession in Romania: Genesis and Key Moments

This paper approaches from a historical perspective the development of the accounting profession in Romania. We aim to present, through an interpretivism methodological approach, using descriptive narrative research, the phenomena of the accounting profession in Romania and its evolution throughout history. The paper captures various stages of development, but also elements that have contributed to the development of this profession in Romania, and the role it had throughout time and the role that it fulfills today. The article highlights the fact that the development of higher education in economics was and is still essential in the existence and development of the accounting profession. By fulfilling such objectives and such performance standards, it will be possible to achieve the goal of this professional organization in terms of adapting quickly and efficiently to changes in the socio-economic environment, ensuring a high level of professionalism of members who will be constantly trained for the future, providing strategic consulting for the business environment, and finally affiliation to the position of reliable business partners. However, if we think about the way the accountant was perceived in the 19th century and the status he benefits in contemporary society, we can say with certainty that it was a battle won. Article history: Received: November 27, 2023; Reviewed: December 10, 2023; Accepted: December 17, 2023; Available online: December 25, 2023; Available print: December 30, 2023. JEL classification: M40, M41, N93, N9

The Bidirectional Causality between Country-Level Governance, Economic Growth and Sustainable Development: A Cross-Country Data Analysis

In the context of contemporary society, characterized by the information users’ growing and differentiated needs, the way country-level governance and social responsibility contribute to the ensuring of sustainable economic development is a concern for all the actors of the economic sphere. The aim of this paper is to test the causal linkages between the quality of country-level governance, economic growth and a well-known indicator of economic sustainable development, for a large panel of world-wide countries for a period of 10 years (2006–2015). While there are some prior studies that have argued the bidirectional causality between good public governance and economic development, this study intends to provide a new focus on the relationship between country-level governance and economic growth, on one hand, and between country-level governance and adjusted net savings, as a selected indicator of economic sustainable development, on the other hand. Four hypotheses on the causal relationship between good governance, economic growth and sustainable development were tested by using Granger non-causality tests. Our findings resulting from Granger non-causality tests provide reasonable evidence of Granger causality from country-level governance to economic growth, but from economic growth to country-level governance, the causality is not confirmed. In what regards the relationship between country-level governance and adjusted net savings, the bidirectional Granger causality is not confirmed. The main implication of our study is that improving economic growth and sustainable development is a very challenging issue, and the impact of macro-level factors such as country-level governance should not be neglected

The Influence of Country-Level Governance on Business Environment and Entrepreneurship: a Global Perspective

The main purpose of this study is to analyze the influence of country-level governance on business environment and entrepreneurship for an international large sample of countries for a period of six years (2007-2012). The dimensions of country-level governance at macroeconomic level will be captured by using the following six indicators developed by the World Bank: 1. Voice and accountability; 2. Political stability and absence of violence; 3. Government effectiveness; 4. Regulatory quality; 5. Rule of law; 6. Control of corruption. To capture the quality of business environment we use the Ease of doing business index developed by the World Bank in its Doing Business report series. To measure entrepreneurship we use the World Bank Group Entrepreneurship Survey where the number of new registered businesses, as a percentage of the working age population is defined as a measure of formal entrepreneurship. In order to capture the extent to which country-level governance does influence business environment and entrepreneurship, we analyze the data using cross-sectional time-series random effects generalized least square (GLS) models. The results of this panel data analysis clarifies and quantifies the influence that various characteristics of country-level governance could have on business environment and entrepreneurship. Therefore, this study could have significant implications for policy-makers as well as for businesses