This paper aims at identifying a potential impact of the macroeconomic environment on the profitability of the companies listed on the Bucharest Stock Exchange. This research derives from the most recent literature on the macroeconomic determination of the capital structure of companies located...

We analyze the effects of Standard and Poor's sovereign rating changes on stock market return at the level of the Central and Eastern Europe area. We remark a certain differentiation in terms of stock market indices reaction to sovereign rating dynamic. We assume that sovereign rating upgrade is...

The objectives of enterprises, their internal organization and the environment in which they operate evolve permanently; thus, the risks they are exposed to permanently change, influencing performance and even putting their existence in danger. Therefore, corporate governance may sometimes refer...

This paper presents the contribution of corporate governance to the risk management system of an enterprise from the perspective of the financial leverage. We assume that companies with a strong corporate governance framework are likely to enhance the optimality of their financial structure.<br> We...

This paper focuses on developed versus emerging markets arbitrage in terms of investors’ perception. We first perform a literature review on the topic, highlighting out both disconnection and transmission belt theories. Then we conduct a deep comparative analysis on the East-European corporate...

This paper consists of a practical approach on corporate default valuation according to the localization criteria. There will be conducted a case-study on two samples of companies, one located into developed countries, the other into emerging countries, in order to highlight out potential...

In the current financial crisis access and absorption of structural funds is the biggest challenge for government, for business, farmers and nongovernmental organization sector. European integration itself depends on the optimization and substantial absorption for Romania during 2007-2013. This...

The literature is addressed by tax competition to attract capital and the measures taken in this regard. These measures aim, in most cases, reducing tax rates. Most authors, especially the classics, believes that this reduction creates an underprovision of goods and services and addresses the...

This chapter describes an optimum regulation model for the public expenditures system in Romania. The aim of this work is to design an optimal control system of public expenditures in Romania. It contains an offline identification of the total public expenditures system in Romania for a timespan...

This study brings to the fore an analysis of the phenomenon of tax evasion in Romania. The perspective is broad, with a descriptive substrate, originally founded by highlighting the dimensions that define this phenomenon; later, the perspective is materialized by the presentation of tax evasion...