This study aims to elucidate and to exemplify an important technique for assessing the economic entities, namely the fundamental analysis of the balance sheet, in several significant aspects. The analysis of financial data reported in the balance sheet are, for an economic entity, the basis of a...

On international level, the economic and financial crisis has determined a diminution of the asset value of compulsory pension funds, reflecting a reallocation of funds towards alternative or low-risk investments. The present paper indicates how the net asset value of privately managed pension...

In this paper we examine the performance of investment funds during the period 2006-2010, intending to comprise the portfolio performanceâ€(tm)s dynamics before, during and after the present economic and financial crises climax. We categorize investment funds according to their investment...

This paper continues the series of researches about the paradoxes of modern stock exchange markets and their impact on the real economy, addressing this time the most important technical anomalies but also fundamental anomalies, which can be observed on the financial markets. As we mentioned in...

In this article we propose an easy approach of stock exchanges and their impact on the real economy. The paradoxes of modern stock exchanges are commonly understood as opinions that contradict the generally accepted truth and therefore are considered absurdities or huge enormity by the majority...

The goal of this paper is to present the basic characteristics of the Romanian private pension system as well as its evolution during a period of 43 weeks from 20th June 2008 to 10th March 2009. The paper begins by describing the legal work frame of the s

The pension system reform in Romania initiated in 2000 is based on three pillars: 1) the public redistributive mandatory pillar; 2) the private mandatory pillar; 3) the private optional pillar. The paper tries to answer a few questions concerning the juridical and technical problems raised by...

In the last three decades, many emerging countries have moved away from a system of restrictive monetary and financial controls to a more liberalized financial sector. The restrictive imposed policies were expected to contribute to industrialization of the economy and to the stability of the...

This paper empirically investigates the impact of the Global financial crisis on the efficiency of four Central and Eastern European emerging unit-linked insurance markets, applying the automatic variance ratio (AVR) test of Kim (2009) and variance ratio tests using ranks and signs by Wright...

In this paper, the authors analyze the influence of the international financial crisis on the current architecture of the CEE pension systems and their further reforms. As a consequence of the financial crisis, the very fragile pension reform has been subject of debate in the new member states...