The Relationship between the Capital and Ownership Structures of companies listed on the Bucharest Stock Exchange

Abstract

This paper examines the relationship between several cases of corporate governance and capital structure of companies listed on the stock market in Romania. The study covers the period 2010-2012 for 52 listed companies, non-financial companies. Concrete cases of corporate governance used are the size of the Board of Directors, the composition of Board of Directors, CEO’s duality - Chairman of the Board of Directors, the shareholder’s structure and typology. Recent work on corporate finance has two important aspects of corporate governance: agent conflicts and separation of control ownership.