Decision contexts, decision nature and characteristics that are to be made, the features of the decision maker, the quantity and the quality of the information available intended to support the decision making process are the major premises of the efficiency. In the world where the changes are...

The classical models of portfolio selection could not be applied on a market were the efficient market hypothesis is not valid (at least in a "weak" sense). The aim of this paper is to enlighten the difficulties of portfolio construction in a financial market with institutional and structural...

The globalization improves the prospects for the emerging markets to attain an economic development level comparable with that of industrialized countries. Without ignoring the specific policies concerning the openness degree, globalization might increase capital and technology flows towards...