In a comparative approach the paper deals with share repurchase as a manner of profit distribution and corporate governance dilemmas raised when a company elects this method for profit distribuiton. In case of American companies, share repurchases are a common practice, but it is arguable that it is able to ensure a fair treatment among different categories of shareholders and between shareholders and stakeholders. A fraudulent utilisation of sh...

The purpose of this paper is to realize a freeze frame of the actual debate on corporate governance theories. It deals with the major theories of corporate governance: agency theory, stewardship theory, stakeholder theory, resource dependency theory, transaction cost theory and political theory. Are presented the origins and the evolution of the main assumptions of all these six well known corporate governance theories.After the corporate...

It is an undisputable fact that state-owned enterprises have become, in the last two decades, a black hole of the national economy, which absorbs far more public resources than it creates. Under the recent agreements with the International Monetary Fund and the European Commission, the Romanian government undertook the obligation to privatise the most significant state -owned enterprises in its portfolio.As a prerequisite for...