THE ROLE OF CORPORATE GOVERNANCE IN THE INNOVATION PROCESS

Abstract

The activity of a central bank is becoming increasingly complex, given the changing regulatory environment, complexity of IT risks and focus on enterprise-wide risk management. Central banks must meet the high stakeholder requirements while pursuing its major objectives. Under these circumstances, the corporate governance has to be insightful, proactive and future-focused. The paper describes the modern tendencies of governance and banking supervision. This article analyses the system of banking governance according to the legislation in force in the Republic of Moldova. With the help of data collected from official banks’ websites, some elements of corporate governance were analysed: the management system, internal audit, risks, and whether the institutions offer information transparency on the applicable governance codes.

Keywords

• corporate governance
• audit
• information transparency
• banking system
• innovation