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Nowadays, there is a much higher demand for financial and economic analyses in companies that help to face the challenges they face. The analysis is a tool for research, and evaluation of business transformation processes, conditions under which they take place. It also examines the impacts and causal relationships that take place here. Under the current economic conditions, it is necessary to apply new adequate methods in corporate governance that meet market needs and requirements. Prognosis of the development of the financial situation of the company, i.e., the forecast of its future solvency, or insolvency, is based on the evaluation and interpretation of the results achieved today. Financial analysis of the company plays a vital role. The main aim of the research paper is to predict the financial health of the company using Altman's Z score. The work consists of the theoretical part of the financial-economic analysis. In the second chapter, we defined the method and indicators by which we will analyse the selected production companies in Romania. We managed to obtain data from 105 manufacturing companies that have been on the market for at least five years for the analysis, and we focused on the last three years of their activity using Altman's Z score. In the results of the work, we specifically evaluated the financial health of the company using the chosen method. At the end of the paper, we generally evaluated the achieved results by analysis. All the data used in the processing were extracted from professional book literature and provided corporate resources, especially from the balance sheet and profit and loss account. [ABSTRACT FROM AUTHOR]

Through this paper the authors approach the sphere of financial instruments on the capital market. Their conceptual evolution is influenced by both the relationship between the accounting and financial approach and the degree of use for financial instruments by various economic entities in their elementary preoccupations: financing, investment and exploitation. The multitude of financial instruments that operate today in financial markets make primary and derivative financial instruments show us the degree of development of the financial transactions market. Given the inherent risks, such as the price risk of tradable commodities, foreign exchange risk, operational risk etc., which may arise due to the scope of activity and the degree of use of financial instruments on the financial market, a study of case by example of OMV PETROM City Romania. The article ends with the authors' conclusions about the risks related to the use of financial instruments in the national and international financial market. [ABSTRACT FROM AUTHOR]

The current study evaluates the potential of the profitability ratio in predicting corporate bankruptcy. The research is focused on Romanian companies, with the targeted event being represented by the manifestation of bankruptcy 2 years after the date of the financial statements of reference. All tests were conducted over 2 paired samples of 1176 Romanian companies. The methodology employed in evaluating the potential of the profitability ratio was based on the Area Under the ROC Curve (0.663) and the general accuracy ensured by the ratio (62.6% out-of-sample accuracy). The results confirm the practical utility of the profitability ratio in the prediction of bankruptcy and thus validate the need for further research focused on developing a methodology of analysis. [ABSTRACT FROM AUTHOR]

In a period of time in which companies still experience the effects of the financial crisis and are hardly recovering their position held prior to it, it is important for an investor (and for the company itself) to determine to which extent these are capable, along with a satisfactory profitability, to also bring added value to their shareholders. In this respect, I see as opportune the fulfilment of a study in which there are analysed, both in comparison and in dynamics, the main indicators which point out the added value created by the main romanian companies from the oil and retail trade industries, listed on Bucharest Stock Exchange. Thus, the study aims to determine, by analysing indicators like Economic Value Added, Market Value Added, Cash-Flow Return on Investment, Cash Value Added or Total Shareholder Return, which of the targeted companies have increased their value in the recent period of time. [ABSTRACT FROM AUTHOR]

In a period of time in which companies still experience the effects of the financial crisis and are hardly recovering their position held prior to it, it is important for an investor (and for the company itself) to determine to which extent these are capable, along with a satisfactory profitability, to also bring added value to their shareholders. In this respect, I see as opportune the fulfilment of a study in which there are analysed, both in comparison and in dynamics, the main indicators which point out the added value created by the main Romanian companies from the oil and retail trade industries, listed on Bucharest Stock Exchange. Thus, the study aims to determine, by analysing indicators like Economic Value Added, Market Value Added, Cash-Flow Return on Investment, Cash Value Added or Total Shareholder Return, which of the targeted companies have increased their value in the recent period of time. [ABSTRACT FROM AUTHOR]

The survival and development of companies have always been linked to their alignment to market conditions and activity optimization. These requests are compulsory, because of the globalization and competition and the global economical crisis. After the 90's, the former Romanian state owned companies had to face important restructuring steps after the privatization in order to be aligned with the new conditions. Private equity investments focus on these changes, turning "tired" companies into new competitive ones, making all the stakeholders happy: the shareholders, the employees, clients, suppliers, and the society as a whole. Such a case is represented by S.C. Terapia S.A. Cluj-Napoca, which was object of such private equity operations thru 1997-2006. The company not only managed to elude a tragic finally, like most Romanian former state owned companies, but it developed into an important national and international player on the pharmaceutical products market. The article presents the investments made by private equity investors, their earnings and also the evolution of the company's performance in that period. [ABSTRACT FROM AUTHOR]

Abstract: A main objective of energy policies is to make all levels of the society, from governments to citizen, interested in increasing the energy efficiency of buildings. One of the most important barriers in implementation of energy policies is that the cost of potential energy savings, typically considered being the only financial benefit, does not sufficiently motivate investments. The target is therefore to identify further possible drivers pushing positive reaction according to energy saving action. The paper discusses whether a market-based instrument, capturing the increase of the economic value of energy efficient buildings, can be also used. Methods that quantify the added value due to energy performance, including recommendations on how they can be incorporated in the financial analysis of investments in weatherization, are developed. By applying the proposed methods, the payback period of investments in energy efficiency measures depends on two factors: potential energy savings and the added value to the property. Case studies on some existing condominiums from Romania are analyzed and provide evidence to the research question. The market sensitivity to energy efficiency measures, the possibility of an intangible added value as well as the impact to financial investment decisions is subsequently in the focus. [Copyright &y& Elsevier]

Agricultural entities, although in smaller numbers than in other sectors, in conditions of economic crisis, face serious economic and financial difficulties. This very often leads to insolvency. Extending competitive economy influences management decision making in general and finance in particular, forcing routine waiver and passing to the use of scientific methods based on reality. These methods establish causal links between economic phenomena and financial condition of entities, regardless of their domain of activity. Financial analysis, part of the economic and financial analysis is methodical and systematic study of the situation and evolution of an economic entity on the financial structure and profitability from the two main components of financial statements ie balance sheet and profit and loss account. [ABSTRACT FROM AUTHOR]

The main correlations established between various elements of patrimony highlight the existence and the productive potential dimension of the holding and its capacity to generate economic and financial resources that will ensure its performance and competitiveness. The main objective of the paper is to identify the qualitative differences between the structures of agricultural production in Romania and the European Union and the causes that generate them. The method used to achieve the aimed goal is the comparative analysis of the financial-accounting information existent in the data base of the European Union. The results obtained after applying the methods specific for the financial analysis will serve to characterize the patrimonial situation and the performance of agricultural holdings in Romania and the EU. The relatively modest position of Romanian farms illustrates the precariousness of their viability within the competitive framework of the European agricultural market, resulted in particular from the extremely small size at which agriculture is practiced. [ABSTRACT FROM AUTHOR]

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After 1990, the financial analysis of the phenomena that occur in firms has grown in importance. Financial analysts face new challenges as a result of Romania's joining to the European Union. A thorough analysis of the investment decisions is required in order to access structural funds. Many projects that may be granted funds are not feasible from a financial point of view, generating economic and social implications. To demonstrate that the demanded funds are truly needed, the analyst has to identify and quantify as precisely as possible all costs and benefits generated by that specific investment, task which may be accomplished with the use of Cost-Benefit Analysis. For this reason, in the following pages, we shall present the main methodological aspects of the method accompanied by an example of how it is used. [ABSTRACT FROM AUTHOR]