Abstract:

This paper studies the corporate governance framework at the international level focusing on the G20 countries and 25 countries from Europe, and on the implementation of the Corporate Governance Code of Bucharest Stock Exchange during the period 2016-2021. It also analysis the main historical stages and evolution worldwide of the corporate governance concept beginnings until today and important aspects related to the content of the most relevant economies and capital markets corporate governance codes. In this context, the present study contributes to the relevant literature by examining recent data for most developed countries worldwide and Romania for the last six years, respectively the companies listed on the Premium tier on the Bucharest Stock Exchange since the implementation of the new Corporate Governance Code in 2016. A significative element will be emphasized within the study regarding the key role of the Board of Directors as the essence of the corporate governance for creating and protecting the value of a company.