In a time of crisis, dividend policy is more important in decision of investment than in regular ... more In a time of crisis, dividend policy is more important in decision of investment than in regular conditions. In Romania, some companies chose to share dividends, relying on the positive effect of measure, trying to keep investors close, while other companies chose to take precautions in crisis, keeping the entire profit for hard times.
The Economic and Monetary Union (EMU) architecture presents a bipolar structure, being focused bo... more The Economic and Monetary Union (EMU) architecture presents a bipolar structure, being focused both on the economic and the monetary pillar. If the monetary leg is represented by the European Central Bank, the economic pole has no institutional economic governance, despite of the fact that the foreign exchange mechanism and the common monetary policy create strong interdependencies between the economic policies set-up at a national level. The creation and the functioning, in the 3rd stage of the EMU, of the Eurogroup, as an informal consultation forum of the finance ministers and of the representatives of the European Commission and of the European Central Bank can be considered as a first step towards the creation of an institution for the economic governance in the Euro zone.
Romania has joined the European Union in 2007 along with lots of hopes. The question is about the... more Romania has joined the European Union in 2007 along with lots of hopes. The question is about the positive effects of the integration. The Union has a complete set of policies concerning agriculture, industry, structural funds, labor force, development and research, micro and medium enterprises. Countries like Romania are very interested in structural funds and in agrarian policies of the European Union. But the behalves imply as well the costs. Every country has its own contribution in the European Union’s budget.
The conditions of the well-functioning of a monetary union were defined by the optimum currency a... more The conditions of the well-functioning of a monetary union were defined by the optimum currency area theory. From this perspective, the business cycles synchronization outlined itself as a meta-condition for the benefits of sharing a common currency to surpass its costs. The synchronization between the economies of the countries that have recently joined the EU and the one of the Euro area has proved itself of maximum importance given, on the one hand, these countries’ objective to adopt the common European currency, but also the obvious crystallization, in the present EU crisis, of the strong economies within the EMU, the evolution of which could dictate the economic perspective of the other economies (outside EMU) linked to them. Thus, our analysis focuses on the estimation of the business cycle synchronization between Romania, as a new member state, and the euro area as a whole, but also between Romania and each member taken individually. For the estimation, we have used both par...
This paper sustains the existence of a biunivocal link between a company’s financing decision and... more 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 contribute to solving interest conflicts between shareholders and managers. On the other hand, the corporate governance mechanism provides the proper contractual framework for attracting financing resources. The decision makers of profit-oriented organizations should take these correlations into account.
In a time of crisis, dividend policy is more important in decision of investment than in regular ... more In a time of crisis, dividend policy is more important in decision of investment than in regular conditions. In Romania, some companies chose to share dividends, relying on the positive effect of measure, trying to keep investors close, while other companies chose to take precautions in crisis, keeping the entire profit for hard times.
The Economic and Monetary Union (EMU) architecture presents a bipolar structure, being focused bo... more The Economic and Monetary Union (EMU) architecture presents a bipolar structure, being focused both on the economic and the monetary pillar. If the monetary leg is represented by the European Central Bank, the economic pole has no institutional economic governance, despite of the fact that the foreign exchange mechanism and the common monetary policy create strong interdependencies between the economic policies set-up at a national level. The creation and the functioning, in the 3rd stage of the EMU, of the Eurogroup, as an informal consultation forum of the finance ministers and of the representatives of the European Commission and of the European Central Bank can be considered as a first step towards the creation of an institution for the economic governance in the Euro zone.
Romania has joined the European Union in 2007 along with lots of hopes. The question is about the... more Romania has joined the European Union in 2007 along with lots of hopes. The question is about the positive effects of the integration. The Union has a complete set of policies concerning agriculture, industry, structural funds, labor force, development and research, micro and medium enterprises. Countries like Romania are very interested in structural funds and in agrarian policies of the European Union. But the behalves imply as well the costs. Every country has its own contribution in the European Union’s budget.
The conditions of the well-functioning of a monetary union were defined by the optimum currency a... more The conditions of the well-functioning of a monetary union were defined by the optimum currency area theory. From this perspective, the business cycles synchronization outlined itself as a meta-condition for the benefits of sharing a common currency to surpass its costs. The synchronization between the economies of the countries that have recently joined the EU and the one of the Euro area has proved itself of maximum importance given, on the one hand, these countries’ objective to adopt the common European currency, but also the obvious crystallization, in the present EU crisis, of the strong economies within the EMU, the evolution of which could dictate the economic perspective of the other economies (outside EMU) linked to them. Thus, our analysis focuses on the estimation of the business cycle synchronization between Romania, as a new member state, and the euro area as a whole, but also between Romania and each member taken individually. For the estimation, we have used both par...
This paper sustains the existence of a biunivocal link between a company’s financing decision and... more 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 contribute to solving interest conflicts between shareholders and managers. On the other hand, the corporate governance mechanism provides the proper contractual framework for attracting financing resources. The decision makers of profit-oriented organizations should take these correlations into account.
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Papers by Dan Ivanescu