Abstract:

The financial crisis in the past few years has revealed serious flaws in the performance of the current banking system at the international level. Some of these are due also inefficiency of the existing corporate governance system at the level of the banking entities, the flawed policies for the appointment of the members of the management bodies, as well as those regarding the excessive remuneration of these ones in comparison with the entities' performances, being some of these.

The general objective of this study is that, starting from theoretical approaches and international recommendations in terms of corporate governance, to determine the status of the implementation of principles regarding the transparency of the policy for the choice and remuneration of the members of the management bodies of the banking entities in Romania.

Subsequent to the study on the implementation of the corporate governance principles in the banking entities in Romania, one could conclude that the credit institutions in Romania partially implemented the international practices and recommendations in terms of corporate governance.

Among the causes that led to the obtaining of a poor result at the national level, we mention: the relatively late harmonization of the national norms, to the international principles and recommendations pertaining to the corporate governance, the failure by BNR to issue a corporate governance, which should apply to the banking entities in Romania, the culture in the making of managers concerning the concepts of the corporate governance, the reluctance of the leadership of entities regarding the dissemination of information, the additional costs imposed by the adoption of general policies of the banking entities to the international practices and principles in terms of corporate governance.

Considering the outcome of the study, we hereby suggest we continue to harmonize the national norms to the international practices and recommendations in terms of corporate governance.