Abstract:

The scientific research entitled “About Decisions: International Environment for Business and Perspectives before and after the Financial Crisis – Roles played by Corporate Governance, Knowledge Asymmetry and Intellectual Capital in the Romanian Business Environment” centers on the analysis of the international environment for business, in the context of the main circumstances that lead the world’s economy to the financial crisis. In addition, this scientific work emphasizes the roles played by corporate governance, knowledge asymmetry and intellectual capital in the case of the Romanian business environment. The structure of this scientific study is as follows: (a) firstly, the general details concerning the international environment for business are presented, with a focus on the perspectives before and after the financial crisis, emphasizing the importance of several key economic and business concepts such as economic growth, financial instruments, financial system, economic and financial decline, financial crisis, bankruptcy, moral hazard, knowledge asymmetry, “hidden information”, as well as “free-rider” problem; (b) secondly, the roles played by corporate governance, knowledge asymmetry and intellectual capital in the international environment for business are presented, in order to determine the general international business framework that lead to the economic and financial decline, financial crisis, and bankruptcy; (c) thirdly, the specificities of the Romanian business environment are taken into consideration, since Romania was severely affected by the 2007-2008 economic and financial crisis, in the attempt to present the role that corporate governance, knowledge and intellectual capital should play in the future in order to avoid such critical situations as the ones already experienced in the recent past, focusing on the opportunities brought by both tangible assets and intangible assets to our economy, as well as to their benefits and influences concerning the accounting value, the investments’ decisions, the targeted effectiveness, efficiency and performance, while addressing the challenges of the new economy and the knowledge-based society