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Expected return and standard deviation are a good measure of future return and risk estimation, not only for the investments in securities, but for the whole company’s portfolio as well. This paper contributes to the understanding of the risks and returns of a company’s portfolio, consisting of financial assets and projects.

The rise of regionalism which took place simultaneously with the strengthening of integration processes, is one of the most prominent features of the development of European countries since the second half of the twentieth century. Regionalism is a historical and dynamic category based on an activist approach in solving of certain regional issues. Essentially speaking regionalism is а movement that seeks to promote the interests of the region in the cultural, economic or political level. Given the variety of causes that lead to the emergence of regionalism, the various manifestations and models аre observed. After the conceptual clarifications, the different regionalism models are defined i.e. a) the doctrinal models mainly focused on the causes and circumstances that lead to the regionalism, b) models according to the classification of the European Union and c) regionalism models according to the form of political organization. It is concluded that regional identity as a complex and historical category is a decisive factor in the formulation of a specific model of regionalism in the contemporary states’ practice.

Corporate financing decision is one of the most important financial management’s decisions. Generally speaking issuance of corporate bonds as a way of debt financing is mostly widespread in the USA, while the European companies are traditionally inclined to banking loans. Development of the debt securities market as well as its corporate bond segment is the part of overall strategy of capital market development in transitional economies. In spite of the fast growth of government bond markets in transitional economies, development of corporate bond market is at the beginning stage while the corporate bonds are very infrequent way of corporate financing. There are numerous reasons for the underdevelopment of the corporate bond markets in transitional economies mostly linked to the different direct or indirect obstacles as well as to the deeply rooted financing decisions habits.