Considerations regarding the analysis between corporate governance and social responsibility in Romanian companies, in the context of knowledge based economy

Abstract

Knowledge-based economy highlights the need to develop cooperation relationships between all economic actors. It is known the fact that the system of relations between a company's management, board, shareholders and other stakeholders (which corporate governance in fact is) has, at least, elements of congruence with what CSR means. Although corporate governance codes apply only to listed companies, however, practice has shown that good corporate governance is essential also for unlisted companies as efficient networking between all stakeholders in an entity activity generates real opportunities to increase profitability of that entity and of the society in general. Of course, harmonizing the interests of all stakeholders is also the purpose of social responsibility. Therefore the basic idea of the study concerns the fact that companies listed or unlisted which is assuming social responsibilities can easily implement corporate governance codes, because of the similarities between the two processes and phenomena that manifests  in knowledge-based economy.