This paper offers, in a descriptive manner, a summary of some important results of research undertaken on the APT model (Arbitrage Pricing Theory), by means of theoretical approaches or by empirical testing. The factors which determine the stocks return are investigated, whether these factors...

The informational efficiency of the Romanian capital market was previously studied, by different approaches. The first condition that needs verification is that of weak form informational efficiency. The present paper aims to make contributions in this direction, namely to test weak form...

The financial theory admits that levered firms record a value surplus compared to unlevered firms, at least because of the tax savings, related to interest. However, incurred debt, especially the long term debt, has a more consistent influence on performance, as stated by the Modigliani-Miller...

The accession to the European Union has had a significant impact on the Romanian capital market. In this paper are presented some aspects of the capital market which are influenced by the mentioned event, such as a harmonized legislation with EU legislation and restructured capital market...

The financial theory admits that levered firms record a value surplus compared to unlevered firms, at least because of the tax savings, related to interest. A series of fundamental studies indicate this phenomenon. However, incurred debt, especially the long term debt, has a more consistent...

In essence, the concept of corporate governance refers to the coordination of interests of the various stakeholders of the company: shareholders, managers, employees, creditors, customers, suppliers, state, etc. In every company’s environment there is a set of specific relationships between...

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...