Depending on the specific stage of economic cycle, different types of fiscal policies,expansionist (incentive) or restrictive (prohibition), are use in specific state of the economy, for acertain period of time. Thus, in times of recession, the state use of tax incentive measures and intimes of...

Efficient Market Hypothesis has dominated the field of research on capital markettheory. It states that asset prices are rationally connected to economic realities and alwaysincorporate all the information available to the market. In this way, securities markets are seen asefficient in...

The favorable institutional and functional evolution of the Romanian capitalmarket was break out by the negative consequences of the financial crisis. Thus, the objectiveof this paper is to analyze the current evolutions and to identify some of the crisis’ pathologycharacteristics. Some...

The main purpose of this paper is to test the impact of corporate governance quality onthe financial structure of companies using a dataset covering 35 developing countries from Centraland Eastern Europe as well as from Asia. Five variables related to corporate financial structureand eleven...