Every business organisation involves some element of risk. Unmitigated risks can result in lost opportunity, financial losses, loss of reputation, or loss of the right to operate in a jurisdiction. Like any other risk type, understanding business risks is quite important for every business to...

Self-employment and entrepreneurship become increasingly important in our modern economies. This paper tries to provide a timely, definitive and comprehensive overview of the field. The key issues addressed include the impact of ability, risk, personal characteristics to the entrepreneurship....

This paper explores the financial linkages between the Romanian stock market and the exchange market in the context of the global crisis. We investigate such relations for two periods of time: one from January 2006 to February 2008, when the Romanian financial markets were quite tranquil and the...

This paper explores the sustainability of the Romanian current account. For this purpose we test the stationarity and cointegration of the monthly credit and debit transactions of the current account. It results these time series have unit roots for levels values, but they are stationary for...

In the last decades the specialized literature revealed the seasonal effects on the financial markets evolution. Among them there is the day-of-the-week effect, which consists in significant differences from the average returns on some days of the week than others. This paper investigates the...

This paper explores the dynamic relations between two indices of Romanian stock markets: BET and RASDAQ-C. The results of our analysis indicate a cointegration relation between the two variables. A Vector Autoregression model revealed weak interactions between the two indices. We find evidence...

This paper approaches the relation between the exchange rate volatility and the Romanian exports to the Euro Area. We employ monthly values of the real exports and the standard deviation of the real exchange rate in a Vector Autoregressive model. We find a negative and weak influence of the...

The adhesion to the European Union represented a turning point for the Romanian capital market. Before the adhesion Bucharest Stock Exchange experienced a relatively quiet period which lasted for many years. Instead, after Romania had became member of the European Union the capital market...

In Romania, as in many Central and Eastern Europe countries, during the communist regime all the banks were owned by the state and their activities were circumscribed by rigid norms. After the communist regime had fallen, the state owned banks had to adapt to a competitive environment. The...

This paper explores the dynamic relations between the Romanian exports and imports using monthly data from January 2005 to March 2009. We test the cointegration and causality between the two variables. The results of Engle-Granger, Johansen and cointegration tests are ambiguous while the...