The paper analyses the paradox found on the stock exchanges where routine operations are regulated on a very detailed scale while important decisions regarding investments in financial asset are taken under uncertainty conditions. Thus, the paper emphasizes the debate of the source, the nature...

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...