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Capital Structure On Romanian Listed Companies - A Post Crisis Insight

Author

Listed:
  • TAGA Liviu-Adrian

    (Bucharest Academy of Economic Studies)

  • ILIE Vasile

    (Bucharest Academy of Economic Studies)

Abstract

There are a number of studies performed using Romanian companies' samples that have tested the capital structure theories. Most of them evaluated the relation between leverage ratios and companies' financial indicators in periods including years of financial crisis. With negative economic effects fading out of the Romanian economy, it is considered that a new positive economic cycle has started as in 2017 the total number of jobs in economy exceded the pre-crisis values. This paper aims to indicate how the dynamic of capital structure of Romanian listed company changed during a post-crisis time period, as companies' financial indicators have shown consistent improvements.

Suggested Citation

  • TAGA Liviu-Adrian & ILIE Vasile, 2017. "Capital Structure On Romanian Listed Companies - A Post Crisis Insight," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 69(3), pages 123-132, August.
    • Handle: RePEc:blg:reveco:v:69:y:2017:i:3:p:123-132
    as

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    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/69313taga&ilie.pdf
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    References listed on IDEAS

    as
    1. Liviu-Adrian ?aga, 2015. "Capital structure ? Romanian and Eastern-Europe companies," Proceedings of International Academic Conferences 1003806, International Institute of Social and Economic Sciences.
    2. Rajan, Raghuram G & Zingales, Luigi, 1995. "What Do We Know about Capital Structure? Some Evidence from International Data," Journal of Finance, American Finance Association, vol. 50(5), pages 1421-1460, December.
    3. Mihaela Dragota & Andreea Semenescu, 2008. "A Dynamic Analysis of Capital Structure Determinants. Empirical Results for Romanian Capital Market," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 4(4(521)), pages 65-80, April.
    4. Raluca-Georgiana Moscu, 2014. "Capital Structure and Corporate Performance of Romanian Listed Companies," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(1), pages 287-292, January.
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    Cited by:

    1. Vasile ILIE & Florina-Adriana STANICA & Nicoleta BARBUTA-MISU, 2019. "The Determinants of the Financing Decision of Listed Companies on the Bucharest Stock Exchange," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 48-62.
    2. STANICA Florina-Adriana, 2018. "The Financing Decision Of Romanian Listed Companies - A Descriptive Approach," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 70(1), pages 27-36, August.

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    More about this item

    Keywords

    Capital structure; post-crisis; performance; listed companies; leverage;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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