The evolution of corporate ownership structure, in particular the resolution of asymmetric information among stockholders, managers and creditors, requires very complex research. This paper aims to investigate how asymmetric information determines stakeholders to behave and how financial...

The study of corporate governance requires not only the knowledge of economic, financial, managerial and sociological mechanisms and norms, but it must also incorporate an ethical dimension, while remaining aware of the demands of various stakeholders. The interest towards good governance...

Determining the value of a company is a process very important and controversial at the same time process. Knowing the value of a firm is indispensable in case of sale, merger, but not only; it is also useful to identify sources of value creation. The val

The paper aims to identify the types of risks that a company faces when entering the European Union's market. Risk may be defined as an uncertain event that may have a negative effect on achieving objectives and risk management can be defined as the process that identifies analyses and accept or...

Fiscal mechanism is part of the financial one, mechanism that refers to a large and difficult domain, namely the financial one. Fiscal mechanism' functionality is defined by two components, namely by the level of conception that outlines the structure of the mechanism and on the other side, by...

In modern economies, the public authority entrusted to manage the public affairs of the community is the state. In fulfilling their objectives the public decision makers assume a number of tasks according to the doctrines embraced by the government. The government results as an outcome of the...

Corporate equity structure, whether is in a market-based system like US or a bank-based system like Japan is prone to changes due to foreign investment. Protection from outside investors varies greatly around these systems. Where protection is good, market-based systems flourish. These systems...

In order to measure the liquidity risk we have developed an analysis model, based on stress-testing scenarios, that shows the ability of the bank to face different types of liquidity crisis. The scenarios were designed for each balance sheet position for assets and liabilities: Ordinary Course...

The internal ratings based approach (IRB Approach) was created as part of Basel II replacing the original Basle Accord of 1988 (Basle I) in an effort to create a better framework for regulating bank capital. This paper covers the methodology and components of the IRB Approach used to determine...

In this paper, we have presented a corporate valuation model. The model combine several valuation methods in order to get more accurate results. To determine the corporate asset value we have used the Gordon-like two-stage asset valuation model based on the calculation of the free cash flow to...