This paper explores the link between idiosyncratic and fundamental dimensions of the corporate finance within CEE countries. We elaborate a Vector Error Correction Model integrating both idiosyncratic and macro related indicators. We expect idiosyncratic variables to be closely related to the...

This paper sustains the existence of a biunivocal link between a company’s financing decision and the corporate governance. On the one hand, the financing decision has an impact on corporate performance, which has been confirmed. According to the agency theory, the financing decision will...

In order to reveal the corporate finance peculiarities, we conduct a panel data study on companies located in European emerging (Czech, Poland, Slovakia, Hungary and Romania) and developed countries (United Kingdom, France, Spain, Italy and Germany). We identify specific elements at country...

This paper studies corporate exposure to country risk from the perspective of the cost of equity. Indeed, corporations located into emerging countries are perceived as being riskier; therefore, investors require higher returns which increase the financing costs. Under these circumstances,...

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...

The European funds do not represent an inward purpose, but instruments in reaching the objectives established at the level of the European Union, of the EU member state, based on the implementation documents. This research work displays diverse aspects concerning the Romania’s ability draw of...

This paper focuses on applying Black and Scholes structural approach on credit risk in the case of the companies listed on Romanian Stock Exchange. We conduct a case-study on 35 companies belonging to five industries (energetic, materials, chemistry, pharmaceuticals, equipments) during a period...

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 project concentrates on the relationship between corporate rating and country rating. The approach is empirical. A series of hypothesis regarding the content and the direction of the relationship between the two variables are tested using various statistical methods. The focus is directed to...

The European East emerging countries represent an interest research topic both in terms of macroeconomic environment and corporate finance decision. Their evolution within the process of nominal and real convergence process requires a challenging analysis of the way the main macroeconomic...