Corporate governance - the case of the Romanian investment companies

The aim of this study is to examine the application of the corporate governance principles at the level of the listed Romanian financial investment companies with an emphasis on applying the recommendations for the year 2016. For this analysis we have performed a literature review relevant on this subject and, further on, we have analyzed the comply-or-explain statements published by the financial investment companies on their websites, relevant for the studied period, along with the quality of the explanations provided in order to build various corporate governance scores. Taking into consideration particularities of the Romanian financial investment companies and our analysis, we conclude that they have sound CG systems in place for the analyzed period.