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Capital Structure And Financial Performance – Related Or Independent Variables? Empirical Study On Romanian Companies Listed On Capital Market

Author

Listed:
  • Ingrid Mihaela Dragotă

    (Academy of Economic Studies, Bucharest)

  • Andreea Semenescu

    (Academy of Economic Studies, Bucharest)

  • Dan Traian Pele

    (Academy of Economic Studies, Bucharest)

  • Carmen Lipară

    (Academy of Economic Studies, Bucharest)

Abstract

The subject of the study represents a well discussed topic in corporate governance area. Identifying the optimal capital structure of the companies and its determinants is a main issue in financial theory, as it has an important influence on companies' performance. The leverage of Romanian listed companies on Bucharest Stock Exchange (BSE) and RASDAQ market, based on the financial debt and the economic assets, is the object of a dynamic analysis for the period 2005-2006 using mainly descriptive statistics techniques. It emphasizes a phenomenon of homogenisation for the companies on RASDAQ and a relatively constant debt policy for the one listed on BSE. Moreover, this variable has been analysed in correlation with other financial ones in order to identify the potential of anticipation for future financing options Romanian listed companies.

Suggested Citation

  • Ingrid Mihaela Dragotă & Andreea Semenescu & Dan Traian Pele & Carmen Lipară, 2007. "Capital Structure And Financial Performance – Related Or Independent Variables? Empirical Study On Romanian Companies Listed On Capital Market," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 11(11(516)(s), pages 143-150, November.
    • Handle: RePEc:agr:journl:v:11(516)(supplement)(vol2):y:2007:i:11(516)(supplement)(vol2):p:143-150
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    Cited by:

    1. Ingrid-Mihaela Dragota & Victor Dragota & Lucian Tâtu & Daniel Traian Pele & Nicoleta Vintila & Andreea Semenescu, 2011. "Capital Budgeting: the Romanian Credit Analysts’ Points of View," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 3(1), pages 039-045, June.

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