THE PRESENCE OF SMES AT BUCHAREST STOCK EXCHANGE

The importance and contribution of the SME sector to the economic growth was frequently stated and discussed. While Bucharest Stock Exchange does not have a dedicated segment for SMEs, we concentrate our attention on this stock exchange, considered to be a frontier emerging market, due to the fact that the market capitalization was notoriously low. The natural question that arisen was: how many of Bucharest Stock Exchange listed companies are SMEs? The present paper documents the presence of SMEs within Bucharest Stock Exchange 2nd category and tests the size effect for a number of 10 selected companies, which were split in two portfolios.