"Scientific research" Almanac

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  CONVERGENT APPROACH FOR RISK-RETURN ANALYSIS OF CAPITAL MARKETS IN EU28

  The integration of capital markets within the EU poses some very interesting issues to investment management. In this paper we examine the integration process and the effect over the risk-return characteristics of a portfolio comprised of European stocks. The results show that the information signals from the process of integration can serve as ... The integration of capital markets within the EU poses some very interesting issues to investment management. In this paper we examine the integration process and the effect over the risk-return characteristics of a portfolio comprised of European stocks. The results show that the information signals from the process of integration can serve as predictors of abnormal return

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  CHALLENGES FACING THE NEW ACCOUNTING REGULATIONS

  This paper aims to study the new formulations in the accounting regulations that give rise to challenges posed by certain contradictions in their interpretation and potential problems in their implementation. The research tasks that support the realization of the objective set boil down to: highlighting the new aspects, weaknesses and shortcomings ... This paper aims to study the new formulations in the accounting regulations that give rise to challenges posed by certain contradictions in their interpretation and potential problems in their implementation. The research tasks that support the realization of the objective set boil down to: highlighting the new aspects, weaknesses and shortcomings in the Accountancy Act; a critical analysis of the changes made in the system of National Accounting Standards; and opening up opportunities for applying the new AS 42 First-time Application of the National Accounting Standards. The above stated leads to the research thesis: Based on the research done in the field of the new accounting regulations to identify the contradictions, weaknesses and shortcomings in the regulations and to formulate guidelines and ideas for improving them in their future updates. The paper discusses the new aspects in the accounting regulations and the contradictions both in the Accountancy Act and between the Act and the bylaws (NAS), as well as between the NAS General Provisions and the particular accounting standards. It also shows the possibilities for eliminating them, as well as the guidelines for their improvement and highlights the specifics of the new AS 42 First-time Application of the National Accounting Standards and its application

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  VULNERABILITY OF SMALL OPEN ECONOMIES TO EXTERNAL ECONOMIC SHOCKS

  This paper aims to study the international propagation of economic shocks by adopting the thesis for a causality between the economic growth in a country and the dynamics of the respective indicator in the foreign trade partners of that country. The main tasks of this research are: to develop an econometric model for testing the causal ... This paper aims to study the international propagation of economic shocks by adopting the thesis for a causality between the economic growth in a country and the dynamics of the respective indicator in the foreign trade partners of that country. The main tasks of this research are: to develop an econometric model for testing the causal relationship between the economic growth of national economies; to study the influence of a national economy’s openness on its vulnerability to external economic shocks; to study the influence of the national economy’s size on the vulnerability to external economic shocks. A multiplicative regression model is used to establish the specified causality on which the relative size of partners’ economies has a moderating influence. There is a statistically significant relationship between the openness of the national economy and its susceptibility to external economic shocks