In light of previous literature that has investigated the effects of MiFID and MiFID II regulation on stock market liquidity, we investigate whether the introduction of MiFID II in Romania has had any effect on the stock market liquidity. Through our empirical analysis, we were able to estimate...

In light of previous literature that has investigated the effects of MiFID and MiFID II regulation on stock market liquidity, we investigate whether the introduction of MiFID II in Romania has had any effect on the stock market liquidity. Through our empirical analysis, we were able to estimate...

On the subject of financial globalization a lot of literature has been written, annalyzing all sorts of effects it had. Still, the changes induced by globalization at the level of the financial markets are not always clear. The veritable flooding of capitals, constantly moving, created a...

Globalization of financial markets and growing competition amid investment banks were the main stimuli for financial innovation. This paper aims to present the main implications of financial innovation. As most papers on this subject mainly cover the US market, the current paper distinguishes...

The beginning of the world economic crisis and the decrease in the financial intermediaries profits (both banks and insurance companies), made intermediaries rethink their offer in such a way as to obtain favourable results. In this context, bancassurance activity got a boost, being stimulated...

Financial innovations, as process innovations, next to product innovations are vectors of the financial liberalization. The expected effect of the financial innovation is the economic growth, through the diversification of the possibilities of investments in the global real economy. The present...

The paper aims the analysis the investment strategies adopted by the private pension funds in OECD countries and the relation between the level of development of the financial system and the impact pension funds have on the capital market in these countries. On the short term, in the countries...