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• W64132777 abstract "IntroductionWithin the different categories of companies, the joint stock companies occupies an important place with a special configuration. The joint stock companies are companies able to manage large capital business (Turcu, 2008 Sandru, 2006). The advantage of this form of society is that shareholders can invest money without incurring a unlimited risk (Guyon, 2003). In the specialized literature, it has shown that this form of business organization is the most efficient from economic perspective: the liability of shareholders is limited to the share capital of the company (Mestre, Pancrazi, 2006). In this type of society, the shareholder like a person shows a particular importance, what matters is the purpose of this association that attracts as many small capital but which together can provide business support large scale. The company shall be regarded as fitting the capitalist regime (Ripert, Roblot, 2002).In the joint stock company there are three types of bodies: deliberative and decision-making (general meeting of shareholders), executive and management (administrator, administrators, Administrative Board, Directorate or Supervisory Board) and management control (auditors). The shareholders may set by the constitutive act other organs of society than those provided for under company law. An important role in the organization of a company has the administrators who have responsibilities in the sphere of internal management acts and representation in relations with third parties. The administrator has full power of decision for all management operations, except for acts which are assigned or reserved by law to other organs of society and those which are prohibited by the constitutive act (Carpenaru, David, Predoiu, Piper, 1998). In doctrine, the administrator of a company shall mean a natural or legal person by its permanent representative, associated or not, who under the mandate of empowerment resulted and the specific rules of Law. 31/1990, transposes in practice the company will by exercising any operations required for the fulfillment of the object of activity and social will except restrictions prescribed by law or the Articles of Incorporation (E. Munteanu, 2000).The management of the joint stock companies is regulated by articles 137 - 1551 of Law no.31/19901 of the companies as amended by Law no. 441/2006. Under these legal provisions, the joint stock companies may be managed in two systems: unitary and dualist. The law modification has made substantial changes in the way the management of the joint stock companies.Through the new legislation it was implemented in Romania the principles of corporate governance as they are imposed by the EU acquis in the field of companies and standards of the Organisation for Economic Cooperation and Development in the field of the corporate governance.To achieve these goals aimed to transpose more directives :- Council Directive no. 68/151/EEC of 9 March 1968 on coordination of safeguards, companies are required by Member States2 ;- Council Directive no. 77/91/EEC of 13 December 1976 on coordination of safeguards, companies are required by Member States3 ;- Council Directive no. 78/855/EEC of 9 October 1978 concerning mergers of the joint stock companies 4;- Council Directive no. 82/891/EEC of 17 December 1982 concerning the division of the joint stock companies5 ;- Council Directive no. 89/666/EEC of 21 December 1989 concerning disclosure of branches opened in a Member State by certain types of company governed by the law of another State 6;- Council Directive no. 89/667/EEC of 21 December 1982 concerning companies with sole partner7 ;- Principles of Corporate Governance adopted by the Organization for Economic Cooperation and Development in 1999, amended in 2004.I. The Unitary SystemA. Appointment of the AdministratorsThe joint stock company is managed by one or more administrators, their number is always odd. …" @default.
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• W64132777 title "The Management of the Joint Stock Companies" @default.
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