Stock prices move as corporate earnings prospects change, but they also move as investors change their aversion to risk. One of the central tenets of finance is that investors expect higher return for taking risk. They exchange some of their riskless securities for risky assets because they...

Among the many forms the process of contemporay financial globalization takes, one of the most challenging is the search of the firms to raise capital in other countries. The effects of such a process are very complex and challenge the traditional wisdom. Such firms, even if they bear a certain...

The present article argues that the development of a knowledge based society has a powerful impact in the role played by the financial sector in an economy as the services supplied by the traditional financial institutions - the commercial bank and the stock exchange - are seriously challenged...

John Law and Richard Cantillon are two economists whose lives and works are intrinsically related. They were at one moment close collaborators and at a later moment bitter enemies. On the one hand, John Law significantly shaped the institutional and policy framework of the French financial...

The contemporary economic crisis has determined a massive public intervention of the member-states of the European Union in the economy, with the hope that such a measure will correct the negative economic and social impact. Such state aid has been directed mainly to the financial and banking...

The recent punishment of the biggest global microprocessor producer, Intel Corporation, for the alleged break of the European legislation in the competition field is a result easy to have been anticipated starting with 2004, when European Commission fined the biggest global producer of operation...

Business literature, especially in the field of operations management, advanced several models of production systems used by firms, among which we can recall Fordism and Toyotism. While such a literature analyses the strenghts and weaknesses of each of these models, highlinghting their impact on...

The issue of whether a state has the ability to foster economic development despite what seems to be adverse conditions confronting it lies at the core of the field of international economics. Besides economic theory, public policy-making has a strong interest in such a debate. Why some states...

Monetary policy is one of the most sensitive problems in the modern financial systems. Money production of central banks and commercial banks generates a lot of problems in the prices mechanism, structure of production and is the major source of error in entrepreneurial decision. This paper...