Capitalization as social responsibility of corporate governance in majority state-owned economic entities

Companies whose capital or patrimonial assets are directly or indirectly owned by central or local public authorities have always been the object of special supervision by the Romanian Government - by means of the specialized departments of the Regional Offices for Public Finances - as an integrant part of the corporate governance developed by the Organization for Economic and Developmental Cooperation (OECD). This monitoring is also a result of the obligations assumed by the Romanian Government, ever since 2011, through the Letter of Application addressed to the International Monetary Fund (IMF), and aimed at the diminution of arrears and the restoration of the health of the business environment. "The effectiveness of an economic operator depends on, and is determined by, the performance of its management and the correct implementation in the functioning of the company of mechanisms for good governance"(2). Taking into consideration the fact that the observations made in the preamble of the establishment of the Government Emergency Ordinance 109/2011 are purely qualitative, the present research sets to quantify with respect to value the assumptions taken by the government and to subject to public opinion the state of affairs that exists in this segment of national economy, with all its direct and indirect consequences.