We analyzed the evolution of systematic risk (beta) for a sample of 436 non-financial companies from five Central and Eastern European countries for the period 2002- 2012. We found that Polish companies present the higher systematic risk, while Latvian companies, on average prove to be less...

Credit risk is defined as that risk of financial loss caused by failure by the counterparty. According to statistics, for financial institutions, credit risk is much important than market risk, reduced diversification of the credit risk is the main cause of bank failures. Just recently, the...

Investment projects have as purpose the satisfaction of some necessities or whishes of the management of a company. When it is taken a decision regarding investments it is known the fact that these assume the consumption of human, financial and material resources. Thus, the decision factors take...

The non-normality of asset return distributions has been a stylized fact in the empirical finance literature. Fat-tailedness, in particular, can have significant impact on the accuracy in computing value at risk (VaR), which became popular from the mid – 1990s as a primary measure of market...

In the first part of the article is described the evolution of the major financial assets in recent years. Further are analyzed the "most wanted" financial asset classes in 2010 with a study done on Google Trends. At the end of the presentation is evaluated the evolution of these assets in 2011,...

Our brain is daily confronted with a huge amount of information and stimulus, hard to be understood and assimilated. In this context the investment decision is often determinate by inter-temporal restrictions, psychological factors and less probable by purely rational factors. Weather factors as...

Long-term memory or long-term dependencies of financial time series’ returns allows testing the efficiency of capital markets. This paper investigates the long-term memory in Sibex market by both static and dynamic approaches. Identifying the long-term memory in futures market can be useful...

The paper presents the needs of a reliable pension fund system as a consequence of the ageing of the population. The sustainability of the privately administrated pension funds is given by the administrators’ investment decision. The pension fund participants would aim for a low contribution...

In the context of the financial innovation of the last few decades, when we were faced with an important diversification of the financial instruments used on the capital markets, the ETFs are revolutionary financial products with a strong impact on the global investment environment. The unique...