THE RELATION BETWEEN FINANCIAL MANAGEMENT AND CORPORATE GOVERNANCE: ANALYTICAL APPROACH AT THE LEVEL OF THE RISK MANAGEMENT STRATEGIES

This paper presents the contribution of corporate governance to the risk management system of an enterprise from the perspective of the financial leverage. We assume that companies with a strong corporate governance framework are likely to enhance the optimality of their financial structure. We perform a literature overview on this topic, in parallel with an empirical approach that brings forth the effect of corporate governance framework on the company financial structure, with a special focus on leverage. The empirical approach is developed using the Ordinary Least Squares methodology; the results of the research reflect a strong impact of corporate governance on the company financial structure. We construct this finding from the perspective of the beneficial effects of an enhanced corporate governance framework which reduces agency costs, conferring to the company more credibility in the eyes of creditors.capital structure, financial management, governance, leverage, risk management

THE DIVERSITY OF CORPORATE GOVERNANCE MODELS. OVERVIEW AT THE COUNTRY LEVEL

This paper concentrates on the key features of corporate governance models; first, it highlights the correlation between corporate governance and the economic welfare; secondly it sets forth the characteristics of the models at the country level. The focus is placed on the correlations between the key elements that are intrinsic to the governance evolution in time

Does Corporate Governance Impact Risk Management System?

This paper brings forth the contribution of corporate governance to risk management system at the enterprise level. The research is a complex one, integrating both quantitative and qualitative information. The quantitative information consists of balance sheet and profit and loss account data while the qualitative one includes dummy variables reflecting the agency and monitoring costs which govern the relationship between managers and shareholders