Corporate Governance: Solution for National Companies?

The paper will try to find what the ways through which are, possible and probably, corporate governance can be a solution used by national companies in competition with the multinational companies on local markets. In the paper we will analyze what can be the positive situations in applying rules of corporate governance or even try to produce their own corporate governance code in order to increase the trust into national companies and not in the end to increase market share. We will take into account in our paper a set of common rules used by the biggest multinational companies and see how those rules can be applied into smaller companies. The fields taken into account will be the banking system, stock exchange and companies from the oil sector. The fields were taken into account because they are the most as to say up to date with the international changes. How the corporate governance code for one local bank will be influenced if the main shareholder is a corporate international bank? Are the international rules conceived by the national legislation? Of course one point will be proposals for the national legislation in order to make possible and maybe for certain companies to promote and propose a corporate governance code. One solution will be of course the stock exchange. Here the listed companies for the national level can have, even if it seems something not quite democratic or a free market solution, compulsory to have a corporate governance code in order to be listed in first or second tier of the stock exchange. This rule can be applied at those companies listed or on the way to be listed, but we need to find a solution also for the closed companies. The examples in the paper will include one national bank from Romania that has between the shareholders the European Bank for Reconstruction and Development and also the Bank of Cyprus and one private oil company with shareholders the OMV Company from Austria and the Romanian State The paper will include in the end a very short study case - Eastern European Countries - the situation of the Romanian Economy and Romanian national companies with a list of proposals for the national law system.