The importance of estimation of a firm's probability of default increased significantly during the economic and financial crisis for financial institutions, which can be explained by the fact that the share of nonperforming loans increased in this period. The probability of default can be...

Since the start of the European Union Structural Funding Programs 2007-2013, especially those focused on financing investments proposed by private companies, a big change seems to be taken place. Large numbers of companies have applied for grants within these programs and especially for funding...

The present study proposes an analysis of the main views expressed in the literature on financial policy, as well as the shaping of our own, clear and comprehensive vision, regarding the content of this concept. The main objective of our research is to clarify the content of the financial policy...

This paper addresses a topic of great contemporaneity and of particular importance, namely the extent to which the creation of value is achieved at micro level through the cash flow. Thus, after a brief introduction, there are given short feedbacks on two

The selection of the financing sources of an enterprise constitutes a major problem for the managerial finance field with influences over the economic-financial performances. The theoretical and practical studies did not provide to the scientific research field the proper identification of the...

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...

This study presents the valuation scheme of a flexographic printing industry firm. The industry, the technology used and most importantly the firm being young ones, it is not possible to use the classical comparable valuation methods. The new approach in this matter is to use as benchmark...

We present a simulation model in this paper to determine the value of intellectual capital. In frame of the simulation model we have used the Baruch Lev’s intellectual capital valuation modell.We have built in the Baruch Lev model in a two-dimensional Monte Carlo simulation modell. We have...

Abstract. The value creation is the major objective of companies' functioning. It aims at meeting the general interests of stakeholders. The shareholders are directly interested by value added as they can recover the investments made and obtain the expected profit. Managers and the other...

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...