FM - Economics & Finance

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Analysing sustainability based relationship between debt and growth in South-Asian economies and their impact on textile industry: a case for developing economies
(2022) Gillani, Durdana Qaiser; Birau, Ramona; Naeem, Muhhamad Zahid; Anghel, Lucian Claudiu; Spulbar, Cristi; Ninulescu, Petre Valeriu; Spulbar, Andrei Cristian; Ejaz, Abdullah
This research aims to quantify the linear and non-linear relationship between debt and economic growth in selected developing economies. Based on theoretical arguments and annual data considerations in modelling the debt and growth as a complex relationship across countries, our panel methodology is based on the fixed effect technique. Our core finding indicates that government debt lowers the GDP in selected developing economies. We also find that the urban population is a key factor that improves economic growth. Moreover, government expenditures on health and industrialization are helpful to enhance the growth of the economies. Our study also suggests increased exports, industrial development, and investment in education for growth. We also propose certain supporting strategies to reduce the adverse effects of debt-growth relation in the considered economies. Given developing economies’ status, the prerequisite for broad, dynamic and rule-based debt policy is of paramount importance, ensuring the factual choices among numerous possibilities, addressing financial constraints and ensuring intergenerational welfare impact.
Analysis of the evolution of meeting requirements imposed by MSCI for the major companies listed on Bucharest Stock Exchange
(Tritonic / Faculty of Management, SNSPA, 2019-10-10) Fleanță, Simona Maria; Anghel, Lucian Claudiu
This paper is an analysis of the evolution of the Romanian candidate companies, based on the Morgan Stanley International Index (MSCI) criteria. The paper will offer a technical analysis on the evolution of Annual Traded Value Ratio (ATVR 12M) levels, Market Capitalization and Free Float Market Capitalization, (Mcap FF), of the Banca Transilvania, OMV Petrom, BRD Group Societe Generale, and Romgaz, companies that in 2017 were the main Romanian candidates to meet MSCI criteria. The paper will take into consideration data from January to December 2018. Based on the updated evolution, the paper is revealing what are the challenges and opportunities that are likely to influence the important Romanian companies’ economic evolution, as well as what measures could be taken to enhance the companies’ evolution and eventually lead them to reaching the minimum ATVR and Market Free Float Capitalization requirements imposed by MSCI. In 2018 a study was made analyzing these companies and the paper addressed the chances of the Romanian Capital Market to be upgraded to Emerging Market status. The study showed that increasing liquidity is the most difficult factor to be achieved by Romanian companies listed on the Bucharest Stock Exchange. Romania has the potential to be upgraded to the Emerging Market status if at least three companies met the minimum requirements, including the Annual Traded Value Ratio, requested by the MSCI. Following a technical analysis using the MSCI methodology, it was found that until the first part of 2018 three companies met the ATVR target of at least 15%, such as Romgaz, Banca Transilvania, BRD Group Societe Generale. OMV-Petrom reached only 12.62%. The company needed an increase in the total volume of the total stock market to bring the ATVR level to at least 15%. As for recommendations, BRD Group Societe Generale needed to increase the Free Float market capitalization by 1.0534% that should reach the minimum required by MSCI USD, 763 mln until mid-2018. Another recommendation, by increasing offer by listing more companies on the Bucharest Stock Exchange and increasing demand by attracting as many retail investors as possible and improving financial literacy, trade volumes would consistently grow. Data was collected from the Bucharest Stock Exchange, Trading Statistics section, and daily reports. This was computed the Annual Traded Value Ratios for 12 months (ATVR 12M) and ATVR for 3 months (ATVR 3M) for each company. The candidate companies included Romgaz, OMV-Petrom, Banca Transilvania, and BRD-Group Societe Generale. The methodology used is in accordance with the MSCI standard calculations.
Artificial systems and models for risk covering operations
(EduSoft Publishing, 2017-09-11) Treapăt, Laurențiu Mihai; Gheorghiu, Anda
Mainly, this paper focuses on the roles of artificial intelligence based systems and especially on risk-covering operations. In this context, the paper comes with theoretical explanations on real-life based examples and applications. From a general perspective, the paper enriches its value with a wide discussion on the related subject. The paper aims to revise the volatilities’ estimation models and the correlations between the various time series and also by presenting the Risk Metrics methodology, as explained is a case study. The advantages that the VaR estimation offers, consist of its ability to quantitatively and numerically express the risk level of a portfolio, at a certain moment in time and also the risk of on open position (in titles, in FX, commodities or granted loans), belonging to an economic agent or even individual; hence, its role in a more efficient capital allocation, in the assumed risk delimitation, and also as a performance measurement instrument. In this paper and the study case that completes our work, we aim to prove how we can prevent considerable losses and even bankruptcies if VaR is known and applied accordingly. For this reason, the universities in Romania should include or increase their curricula with the study of the VaR model as an artificial intelligence tool. The simplicity of the presented case study, most probably, is the strongest argument of the current work because it can be understood also by the readers that are not necessarily very experienced in the risk management field.
Decoding the multifaceted just transition: from the organizational commitment to environmental issues toward investments and expected outcomes
(Emerald Publishing Limited, 2025) Petrescu, Ioana Maria; Pînzaru, Florina Magdalena; Ștefan, George; Vătămănescu, Elena-Mădălina
"Purpose: This paper investigates the role of the organizational culture and readiness for Just Transition (JT)/decarbonization, starting from the commitment to environmental issues toward the investments and expected outcomes and by proposing a novel research model and unfolding a cross-country firm-level survey. The survey assesses firms’ awareness of the EU energy transition, their internal and external responses, and the factors influencing these responses. Design/methodology/approach: The questionnaire-based survey, conducted in Germany, Romania, Spain and the UK, included 550 companies. Data was collected via an online survey between December 2023 and January 2024. The analysis was performed using partial least squares structural equation modeling (PLS-SEM) to evaluate complex structural models. A multigroup analysis (MGA) was also computed to provide a comparative outlook across countries. Findings: All hypotheses tested were supported in both the four-country framework and in separate national contexts, indicating strong and significant relationships between the constructs. This supports the advanced research model and suggests that factors such as commitment to environmental issues, confidence in JT policies and organizational culture play relevant roles in sustainability and decarbonization efforts. Further, the results show that both organizational culture and financial costs influence the investments plan and expected results of companies. Also, the assumption of financial costs and perceived risks emerges as a prerequisite for achieving better outcomes. Research limitations/implications: From a bird’s eye view, in terms of managerial implications, the results provide actionable insights for companies navigating toward the JT programs, offering inputs on how to develop organizational cultures prepared for this evolution while paying attention to the necessity to mitigate risks and ensure a transition that makes employees confident about it. Simultaneously, the findings inform policymakers about the crucial necessity to adopt and communicate supportive legislation for businesses that align with the JT goals in a continuous, predictable and transparent way. Originality/value: By bridging the gap between business practices and public policy, this research can contribute to a smooth JT and confirms the necessity of more awareness of the JT, as well as of more support for companies to embrace it."
The evaluation of the equilibrium exchange rate based on the purchase power, for Romania’s case
(University of Craiova, Faculty of Economics and Business Administration, 2014-06) Anghel, Lucian Claudiu; Pînzaru, Florina; Treapăt, Laurențiu Mihai
The current paper aims to analyse one of the many models of evaluation for the equilibrum rate in an economy. It also briefly presents the main models and methods used in the specialized literature for the evaluation of the equilibrum exchange rate. The utilization of as many methods allows the deciders of monetary and economic policy to accurately ground the moment of one country adhesion to the euro zone. Also, an analysis can be made, whetehr the respective countru is ready and how fast the process of convergence to the Euro zone can devolve. In general, it is recommendable a country not to force de adhesion to the euro zone because the negative effects may occur for a long period of time, leading to a development for the respective economy under its potential.The estimated model in Romania based on data will be afterwards used for estimating the equilibrum rate and for issuing scenarios concerning its future evolution. Usually, the parity at which the national currency should be converted for an unlimited period of time, will also be around the level of the equilibrum rate. From that moment on, after attending the Exchange Rate Mechanism II (ERM II), the respective country’s economy loses an equilibrum buffer – the exchange rate. Starting from that moment, the country’s economy is supposed to be so performant that it absorbs the internal and external negative shocks, only relaying on the fiscal and budget policies. Hence, the particular importance of a correct evaluation for the equilibrum rate by using several models and methods, so that to be as close as possible to the equilibrum level on mid term.
Exploring the intersection of professional social networks and competitiveness : a systematic review and bibliometric analysis
(The Bucharest University of Economic Studies, 2025-07) Becheş, Petrică Dumitru; Mititean, Pompei; Anghel, Lucian Claudiu; Catrina, Maria Manuela
This study explores how professional social networks affect competitiveness using a bibliometric approach. The study uses data from the Web of Science database from 1998 to 2024 and a selection of 165 scholarly publications. The selection was made according to PRISMA guidelines for systematic literature review in 2020, while data analysis was done using Bibliometrix R package. The objective was to identify major research areas, spot new topics of interest, and chart the conceptual platform for this area by looking for co-citation, co-occurences from keywords, and thematic clusters. Early findings show how professional social networks help improve competitiveness by facilitating knowledge sharing, driving innovation diffusion, and generating strategic linkages. The clusters found were grouped into four broad categories: motor themes, basic themes, emerging themes, and niche themes, each described according to how they contribute to forming competitive advantage. This original comprehensive systematic review, to our knowledge, explores how professional social networks intersects with competitiveness, providing a sound groundwork for future studies.
Exploring the sustainable effect of mediational role of brand commitment and brand trust on brand loyalty : an empirical study
(Taylor & Francis Group, 2022-03-13) Suhan, Mendon; Nayak, Smitha; Nayak, Raveendranath; Spulbar, Cristi; Bai, Gokarna Vidya; Birău, Ramona; Anghel, Lucian Claudiu
The study focus on the role of self-expressive branding, brand love, brand trust and brand commitment on brand loyalty. It also identifies the strength of mediating effect of variable brand commitment between brand love and brand trust. Also measures the strength of mediating effect of variable brand commitment between brand trust and brand loyalty. The data is gathered by using a structured questionnaire and a sample size of 101 respondents in a cross-sectional study. Statistical analysis has been done through SMART PLS 3.0 software. In the analysis part, PLS algorithms, bootstrapping, blindfolding, Importance performance matrix, FIMIX, Multi-Group analysis have been undertaken. A reflective model has been developed. The path coefficient value and empirical t-values of all direct relationships of variables above 0.2 and 1.96 respectively and substantiate the hypothesis.
Fighting with Tax Fraud-Best Practices and Steps for the Future
(Tritonic, 2021) Gheorghiu, Anda
"The purpose of this paper is to identify the best methods that can be implemented by a state, or a group of states for protection against tax fraud; the paper also suggests improved mechanisms at the European and international level in the fight against tax fraud. The research method is a survey in which independent professionals and civil servants with positions of responsibility in relevant institutions in the field of combating tax fraud have expressed their views on tax fraud and how to take action to reduce or prevent it. The study objectives are finding the most appropriate measures and detection techniques that could be more useful to the state for the necessary protection against tax fraud, finding the most effective methods that should be imposed by law to create an internal control system in the companies to reduce the phenomenon of tax fraud. The study reveals that the most important measure that a government can implement for fighting tax fraud is the cooperation between public organizations. Also, civil servants working in the fiscal/judicial field should be highly qualified and comply with clearly stated ethical standards. Ground and maritime surveillance for the detection of smuggling illegal excisable goods for the detection of illicit trafficking of sensitive goods by sea are extremely important. They are as important as detailed procedures for dealing with cases of suspected fraud and for guaranteeing the quick transmission of information to the competent authorities; another kind of desirable procedure is those that guarantee the protection of the whistle-blowers. Implementing management's responsibility for financial reporting, likewise to The Sarbanes-Oxley Act in the United States, is crucial for minimizing the level of tax fraud at the international level. Hopefully, working together within OECD/G20 Inclusive Framework on BEPS, 139 countries and jurisdictions are collaborating on the implementation of 15 measures to tackle tax avoidance at the international level, improve the coherence of international tax rules and ensure a more transparent tax environment. More than 130 states reached an agreement in July 2021 on reform of multinational taxation to impose a minimum global profit tax of ""at least 15%"" on them. Likewise, the European Union also has strong institutions and strategies against tax fraud."
Financial market interconnections analyzed using GARCH univariate and multivariate models
(Bucharest University of Economic Studies , 2022) Anghel, Lucian Claudiu; Zwak Cantoriu, Maria Cristina; Mendon, Suhan; Attila, Gyorgy; Ermiș, Simona Ioana; Trivedi, Jatin
Given that the financial markets are facing the effects of the coronavirus pandemic, we chose to perform an analysis on them, in order to see the transmission of volatility, the effects of the contagion and the interconnection between the financial markets. Using stock indices from different countries and applying theoretical and empirical methods such as univariate and multivariate models (ARCH–GARCH, BEKK), we aim to capture volatility and bidirectional contagion, as well as testing and occurring the phenomenon of clustering volatility and its transmission effect.
Finanțele companiilor în economia de piață : analize și soluții practice
(Tritonic, 2020) Treapăt, Laurențiu Mihai
The work as a whole is composed of two books, it is a balanced combination of theoretical concepts (the first book) and case studies and methods of financial analysis (the second) with a deep financial-banking specificity. Why do you need the first of the books? Because this is the one that explains the abc of corporate finance to you at the level of theoretical, basic concepts that help you build the puzzle. The second book comes naturally and teaches you how to apply theory in practice, gives you the know-how, guides you to practical solutions and methods of financial analysis, the way a bank analyzes the financial statements of a company applying for a loan. Both books emphasize the managerial perspective of the financial aspects of companies, so as to ensure communication between the financial function and all other functions, with a positive impact on the understanding and implementation of the company's development strategy. And the author of these two works, above all, aims to make this academic discipline enjoyable for students and especially to make it easier to assimilate.
Finanțele companiilor în economia de piață : noțiuni teoretice
(Tritonic, 2020) Treapăt, Laurențiu Mihai
Ca de cele mai multe ori, căutând etimologia cuvântului finanțe, constatăm că datorăm și această noțiune strămoșilor noștri latini, care prin cuvintele fiare sau finis, înțelegeau a termina, a încheia un diferend, o acțiune judiciară în legatură cu plata unei sume de bani. De la aceste cuvinte s-a format financia sau financia pecuniaria, adică plata cu ajutorul banilor. Se crede că din aceste cuvinte latinești s-a născut noțiunea finance folosită pentru prima dată în Franța în secolele XV-XVI, (les finances), care avea mai multe înțelesuri, pornind de la patrimoniul public, până la resursele private ale firmelor sau omului simplu. Ambele cărți accentuează perspectiva managerială a aspectelor financiare ale companiilor, astfel încât să asigure comunicarea între funcțiunea financiară si toate celelalte funcțiuni, cu impact pozitiv asupra înțelegerii și implementării strategiei de dezvoltare a firmei. Și își mai propune ceva autorul acestor două lucrări, mai presus de orice, își propune să facă această disciplină academică plăcută studenților și mai ales să o facă mai ușor de asimilat. Lucrarea în ansamblul său este compusă din două cărți, ea este o combinație echilibrată a conceptelor teoretice (prima carte) și a unor studii de caz și metode de analiză financiară (cea de-a doua) cu un profund specific financiar-bancar.
Fixing the central parity and the evolution of the currency within the exchange rate mechanism II in the countries that joined the Euro Zone
(Faculty of Management, SNSPA, 2013-06) Anghel, Lucian Claudiu; Pînzaru, Florina; Dinu, Mihaela; Treapăt, Laurențiu Mihai
The present paper aims to briefly present the models used by the countries that joined the Euro zone after 2000, in fixing the central parity and the evolution of the local currency towards Euro, when participating in Exchange Rate Mechanism II (ERM II). In this respect, the paper intends to synthesize the main theories for determining the equilibrium exchange rate, as well as to present the modality of putting them into practice in the countries that had already become members of the Euro zone. The better we know the other countries’ experience in the respect of the joining process to the Euro zone, the better will Romania be able to prepare itself for adopting the unique European currency. Thus, we will be synthesize the main approaches within the specialized literature and also in the economic policy deciders’ practice concerning the estimation of the equilibrium exchange rate and implicitly, of the central parity. The paper presents the modality of fixing the central parity and the experience of participating in ERM II for a number of member states that joined the Euro zone after 2000: Greece, Slovakia, Slovenia, Malta, Cyprus and Estonia. For these states, we will analyze both the evolution of the currency towards Euro while participating in ERM II. Starting from these concrete examples, we will explain the advantages and the disadvantages in fixing the central parity over/at/under the value of the exchange rate on the market at the moment of joining to ERM II and we will underline the problems that might occur in the case of choosing a central parity that is not compatible with the equilibrium value of the exchange rate.
Framing consumer empowerment in the digital economy: From networks and engagement toward sustainable purchase
(John Wiley & Sons Ltd, 2024-05-15) Vătămănescu, Elena-Mădălina; Dinu, Elena; Gazzola, Patrizia; Dabija, Dan-Cristian
The current study investigates the influence of variety among online providers and customers' access to knowledge on consumer networks, consumer engagement, and sustainable purchasing. Emphasis is on the underlying relationships among these constructs in the digital economy, which has evolved into a complex structure of multifarious nodes and linkages unfolding in the online environment. The underlying theoretical approaches are knowledge-attitude-behavior (KAB) and customer sovereignty. Against this backdrop, a questionnaire-based survey was given to 200 Millennials (i.e., generation Y) and gen Z Italians—approached as empowered stakeholders requiring accurate information and sustainable solutions from online providers—in January 2023. The data was processed via the structural equation modeling technique PLS-SEM, based on SmartPLS 4. The findings indicated that sustainable purchasing is influenced to some extent by access to knowledge, consumer engagement, and consumer networks. The study endeavors to fill a research gap, as the relationships between variety among online providers and sustainable purchasing, as well as consumer engagement from the empowerment perspective are underexplored. The study provides new evidence of the relationships between consumer networks, consumers' access to knowledge, sustainable purchasing, and consumer engagement in the framework of online retail by inquiring respondents.
ICTs and digital risk in purchase transactions
(Military University of Technology, 2020-12-18) Wozniak, Jacek; Gheorghiu, Anda
The phenomenon of digital risk accompanies today's consumers every day, at the execution of every purchase transaction. Today's customers (so-called the Customers 4.0), who use ICTs on a large scale and are very prone to exploiting the potential of ICTs in purchasing processes, are usually aware of the digital risk, but do not give to it a high enough priority. In order to explore the peculiarity of the digital risk and customer use of ICTs, the CATI survey was conducted – on a sample of 320 consumers (from Poland). The research aimed to assess the complexity and importance of digital risk in customers' opinions, and the complexity of the use of ICTs in purchasing processes. The research process involved the statistical methods as follows: factor analysis (i.e. Principal Components Analysis method – PCA), as well as cluster analysis (k-mean method). In the study, three composite indexes were constructed – i.e. the Digital Risk Complexity Index – DRCI, the Digital Risk Importance Index – DRII, as well as the Consumers' Use of ICTs Complexity Index – CUICI. In particular, the study showed that the digital risk complexity is at a moderate level, the digital risk importance is at a moderate level too, as well as the consumers' use of ICTs complexity is at a relatively high level throughout the research sample.
The impact of disturbances on the US stock market’s spread and investor sentiment through the perspective of risk management
(Faculty of Management (SNSPA), 2023-03-21) Zwak Cantoriu, Maria Cristina; Anghel, Lucian Claudiu; Ermiș, Simona Ioana
The paper aims to address a topic of interest, namely: the influence and effect of the major disruptions from recent years on one of the largest important stock markets. The purpose of the paper is to show the influence of these disruptions on the US stock market, considering market efficiency and measuring the estimated Bid-Ask spread. Using daily and weekly data sets over a period of 13 years, based on the closing stock prices of 10 companies listed in the category of the NASDAQ and NYSE stock indexes and calculating the return at (t) and (t+1) for each stock, the covariance of the two returns at (t) and (t+1) and using at t and (t+1) a "rolling window" of 21 days, which represents the trading days, as well as using the weekly data series in the same way, we obtained the relationship between the spread measurement and its size, a strong negative cross-sectional relationship, for which we performed a series of statistical tests summarized in the paper. Later, we split the data for each year separately so that we’d be able to use for each year a cross-sectional regression of the spread over the logarithmic values of the size and we noticed that there is a strong negative relationship between the two of them. According to the results obtained, it can be observed that the strongest negative correlations are in 2019and 2021 in the case of data with daily frequency and 2020, and 2021 in the case of data with weekly frequency, for an informationally efficient market, where transaction costs are zero and in which the market price contains all the relevant information. The strongly negative correlations recorded can be explained by the fact that strong negative influences took place during these periods, which contributed to the disruption of the stock market and not only. At the same time, these negative correlations on the stock market analyzed in the last period also show a wider spread increase which theoretically shows low liquidity.
Intertwining entrepreneurial motivation and the global mindset: a look into entrepreneurial profiles and business outcomes
(Emerald Publishing Limited, 2024) Mitan, Andreea; Vătămănescu, Elena-Mădălina; Dincă, Violeta-Mihaela; Ghigiu, Mihai-Alexandru
This article explores the connections between the entrepreneur's global mindset and entrepreneurial motivation in the quest for determining the underlying relationships among these constructs. The aim of the study resides in the advancement of various entrepreneurial profiles which imply specific configurations of the global mindset and motivational drivers, by also covering their correlations with the business outcomes. Design/methodology/approach: Data were collected in 2022 from over 100 entrepreneurs operating in the Romanian SMEs sector, using a questionnaire-based survey. Findings: The results posit that at least three statistically relevant clusters can be observed in the studied population, stemming from the particularities of the entrepreneurs' global mindset. The findings reveal that the levels of development of the entrepreneur's social capital, psychological capital and intellectual capital are linked to different entrepreneurial motivations and impact the company in specific manners. Practical implications: The research offers useful cues to the entrepreneurs for identifying prospective partners for their local or cross-border operations. Originality/value: This article explores the connections between the entrepreneur's global mindset and entrepreneurial motivation in the quest for determining the underlying relationships among these constructs. The aim of the study resides in the advancement of various entrepreneurial profiles which imply specific configurations of the global mindset and motivational drivers, by also covering their correlations with the business outcomes. Design/methodology/approach: Data were collected in 2022 from over 100 entrepreneurs operating in the Romanian SMEs sector, using a questionnaire-based survey. Findings: The results posit that at least three statistically relevant clusters can be observed in the studied population, stemming from the particularities of the entrepreneurs' global mindset. The findings reveal that the levels of development of the entrepreneur's social capital, psychological capital and intellectual capital are linked to different entrepreneurial motivations and impact the company in specific manners. Practical implications: The research offers useful cues to the entrepreneurs for identifying prospective partners for their local or cross-border operations. Originality/value: The results foster a new topical framework for discussion on the motivational configurations of entrepreneurs and the global mindset.
Investigating financial opportunities for traditional clothing industry in South Asia based on an analysis of internationally diversified portfolio using ARCH and GARCH models
(The National Research-Development Institute for Textile and Leather (INCDTP) , 2022) Zulfiqar, Imran Ali; Birău, Ramona; Spulbar, Cristi; Anghel, Lucian Claudiu; Ejaz, Abdullah; Criveanu, Radu Cătălin
This paper investigates the benefits of forming an internationally diversified portfolio in the stock markets of Bangladesh,India and Pakistan using the stock market indices data from April 2013 to March 2020. The portfolio comprises of three stock market indices from Pakistan, India and Bangladesh. The goal is to identify financial opportunities for traditional clothing industry in South Asia. Bangladesh, India and Pakistan are neighbouring countries in South Asia. Tradition, culture and specific ethnic elements influence traditional clothing in the case of the selected country cluster consisting of Bangladesh, India and Pakistan. Our empirical results indicate that internationally diversified portfolio does not reduce change in conditional variance is followed by large changes in conditional variance whereas small change in conditional variance is followed by small changes in conditional variance.
Learning from financial practice
(Lambert Academic Publishing, 2015) Treapăt, Laurențiu Mihai; Anghel, Lucian Claudiu; Gheorghiu, Anda; Ivan, Ion
This book aims to address a wider target audience in comparison with the one that each of its component works used to address. The four works that make this book belong to several highly professional specialists in the financial field, each of them with more than 20 years of practice behind. Their papers are the result of an outstanding experience in the financial-banking field but also of their teaching and research activity until now. Consequently, these works were published in academic journals and communicated within international conferences. For this reason, the main beneficiaries of these papers were professors, researches and also students, as usual participants to these activities and events. Our wish is to share the practical experience of these specialists to an even wider public, not only to thus make it more marketable in bookshops and libraries. Source: Lambert Academic Publishing - https://www.lap-publishing.com/catalog/details/store/gb/book/978-3-659-56323-2/learning-from-financial-practice?search=Learning%20from%20Financial%20Practice
Management measures for a multivalent risk administration in the top Romanian bank
(Vilnius University, 2016-10-30) Treapăt, Laurențiu Mihai
The lethargy that laid over the economy in the years of crisis was also reflected in the banking system, where the non-performance loans punctually even exceeded the level of 25%. Although the macroeconomic situation got better in present, the lending activity had a low sensitivity, remaining in the negative area between 2014 and 2015 as well. Due to this, the weight of the net banking assets within the GDP decreased, reaching the level this indicator had in 2007, this way the banking system turning back in time, to the level before Romania's adhesion to the European Union.
Managementul şi asigurarea riscurilor bancare in România
(Editura Economica, 2011) Treapăt, Laurențiu Mihai
Classic risk management solutions coexist with the latest trends in the field, because they are well known from the relevant experience, as a practitioner and also as a researcher, of the author. The applicative relevance of the book is indisputable both for young people who are studying, still in university, but also for professionals at the beginning of their career, masters', doctoral students, whether it is a career in sales, in the financial area, or any other kind of company, which in one way or another are interested in the relationship between risk and corporate brand.

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