THE IMPACT OF FINANCIAL STRUCTURE
           ON CORPORATE GOVERNANCE MECHANISMS


                       Assistant PhD Student Andrei Stănculescu
                       Academia de Studii Economice Bucureşti
                             stanculescuandrei@yahoo.com

        Abstract: The theory and practice of corporate finance has allocated over time
an important field of study in favor of the main corporate decisions regarding financial
structure and its implications over: the shareholders, the debt holders, other stakeholders
and on the participants from inside the corporation. The first section of this paper
contains a theoretical synthesis of several cornerstone studies on this subject. The second
section is a research proposal which can be undertaken in order to materialize theory
into practice, by testing these implications on the Romanian corporate environment.

       Keywords: financial structure, stakeholder, shareholder

       JEL codes: G30, G32