Incomplete contracts theories have developed significantly in recent decades, although insistence for rigorous models left little room for empirical research. By formalizing and extending some results from other theories such as transaction costs, incomplete contracts theory tries to analyze the...

The purpose of this paper is to reflect the behavioral aspects that govern corporations. The paper briefly presents some of the main pillars of behavioral corporate finance: management, closed – end funds puzzle, dividends and the importance of aggregate earnings releases. The first pillar...

The scope of this article is the evolution analysis of net investment in Romania between economic growth and international economic crisis. The analysis captures both the evolution of net investment by structure elements (buildings, outfits, other investments) and the structure and evolution of...

The economic development involves, for a short time, a deficit of the external payments' balance (EPB). Studying the evolution of the BEP sold provides useful information regarding the economic development degree rate. An invariable deficit which has acceptable limits and correlated with an...

The European Integration came with new challenges for the Romanian enterprises especially for the SMEs, the opportunities arising from operating on the European Single Market and the possibility for accession of European Regional Development Funds. The main programme designed to offer access for...

The purpose of this paper is to reflect the behavioral biases that led to this global financial crisis. The paper presents briefly the real causes of the crisis (structural and cyclical factors) and puts a greater accent on the behavioral factors. The authors considered to structure the paper in...

Company performance varies among economic sectors, countries and regions. It is influenced by a very large number of factors. This study aims at identifying and analyzing the determinants that must be considered by company's management presently in order to face competition and achieve superior...

Besides the classical theories of the firms as complete or incomplete contract theories, in the last decades there were developed some new theories bringing new perspectives and approaches. Among these new perspectives we are presenting in this paper the evolutionary theory of the firm, the...

The object of contractual theories is describing exchange relation between agents, considering institutional and informational restriction in which they evolve. From trials of removing insufficiency in contractual theories new representations gradually

Ronald Coase article from 1937, The Nature of the Firm, meant a new way of thinking and conceiving of the world, especially of economic organisations. Coase argued that the firm and the market represent two alternative ways to organise the same transactio