The attitude of individual investors is strongly correlated with their sentiment, so their behavior on the stock market can generate important changes in price fluctuations. The aim of our study was to provide evidence regarding the relationship between the evolution of stock market and the...

This paper examines the Halloween effect in the Romanian stock market. The analysis is conducted for four stock indices using monthly returns. The Halloween effect is not identified for any of the indices. Therefore, an investment strategy based on the Halloween effect was not suitable for...

This study examines the day-of-the-week effect in 18 Post-Communist East European stock markets: Bosnia, Bulgaria, Croatia, Czech Republic, Estonia, Former Yugoslav Republic of Macedonia, Hungary, Kazakhstan, Latvia, Lithuania, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia and...

The Efficient Market Hypothesis is still a 'hot' topic in financial economics. This paper provides a review of the empirical results obtained in the investigation of the Romanian stock market’s informational efficiency. Tests on the predictability of returns suggest that the Romanian stock...

This paper tests the Fisher effect in the case of Romanian stock market. According to the Fisher effect, the expected nominal return on stocks move in one to one correspondence with the expected rate of inflation. The relationship between nominal stock return and inflation is examined for four...

This study examines the relation between the sentiment of noise traders and stock prices in ten Post-Communist East European stock markets: Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic and Slovenia over the period April 2004 to March 2014. The...

The present research provide information about the value of discretionary accruals considering the fact that a switch from Romanian Accounting Standards to International Financial Reporting Standards was compulsory, from 2012, for the entities that have securities admitted on trading. The value...

Establishing the performance of the companies is one of the facts that influence the shareholders’ attitude. As a fact, a framing category could further affect the evolution of the company and could influence the audit opinion. As creditworthiness should be given to audit, a performance...

The Romanian Companies that are listed on stock market have to report their individual financial statements under IFRS from 2012. The present research tries to reveal the influence of individual factor upon financial performance, measured through return on equity and cash flow to total assets...

The modifications related to the fiscal regulations in Romania that refer to the VAT encashment system are considered as a fiscal relief for companies. Our purpose is to analyze the way in which the VAT encashment system becomes efficient and companies can benefit from the advantages offered by...