Guvernanţa corporativă şi implicaţiile ei asupra stabilităţii sistemului bancar al Republicii Moldova

Abstract

The aim of this paper is to analyze the implications of corporate governance on the stability of the banking system of the Republic of Moldova, by highlighting corporate governance challenges and destabilizing effects of weak corporate governance structures within financial institutions (mainly the banking sector). Important financial intermediation role of banking institutions in the economy, their high degree of sensitivity to potential difficulties arising from ineffective corporate governance and the need to protect the interests of depositors and investors, requires that corporate governance for these institutions represent a particular interest in order to maintain stability of the financial sector. Despite some progress in addressing the recommendations of IMF and the satisfactory reported performance of banks, there are serious governance problems in several banks including the largest ones. Corporate governance deficiencies in banks still are the major risk to systemic financial stability in Republic of Moldova and the ability of the regulators to take action remains constrained.