Corporate Social Responsibility in Romania

The topic of the social responsibility has a long footing in different societies around the world, and also in the Romanian society, especially in the last 10 years. Indubitably the transition to a decentralized economy started in 1990 and the accession as an EU member state in 2007 change a lot the Romanian society, business environment and corporate governance culture. Thus, corporate social responsibility (CSR) has increased and it is nowadays an item to take into consideration on the corporate agenda in Romania. This chapter describes how CSR evolved in an emerging economy as Romania and what specificities presents in this sort of environment. It all begins with the emerge of CSR in Romanian after 1990, then the national regulations concerning CSR are analyzed, followed by the status of CSR practices and reporting especially in the case of listed companies. However, in the last decade the practices on corporate responsibilities have improved in Romania along with the markets’ evolution, with the market’s demands and the change in costumers’ behavior.