Corporate Finance, Governance, and Social Responsibility

Dear Colleagues,

Corporate finance is the fundamental basis for the whole financial decisions of a company. It deals with the operation of the firm, both the sources of funding and the investment decision, the main purpose being shareholder value maximization, while harmonizing risk and profitability. Every corporation makes decisions that trigger financial repercussions and any resolution that entails money is delineated as a corporate financial decision. Nevertheless, the separation of ownership and control may rise potential agency conflicts as managers will pursue their own interest at the expense of stockholders. Corporate governance refers to the structures by which companies are managed and supervised. Good governance implies better oversight and greater transparency, which increase investor trust and lessen directors’ discretion. Well governed corporations are rewarded with enhanced operating performance and higher market valuation attributable to reduced agency costs. Boards are accountable for the prosperity of the company, their essential role being to fulfill the best interests of stakeholders. A diverse boardroom, covering gender, racial, and ethnic balance, stimulates innovation on account of various skills and experiences. Therewith, corporate social responsibility promotes firm’s image and augment its reputation, thus fostering long lasting relations with the customers.

Wide-ranging topics of interest cover, even are not limited to:

• Exploring the drivers of corporate default risk;
• Evaluating the connection between economic policy uncertainty and stock price crash risk;
• Analyzing the relationship among foreign ownership and company performance;
• Investigating the impact of CEO remuneration on firm risk;
• Examining the effect of board gender composition on dividend policy;
• Assessing the impact of pollutant emissions on firm performance;
• Inspecting the influence of corporate social responsibility on cash flow volatility.

Dr. Ştefan Cristian Gherghina
Guest Editor

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