Local financing through capital markets

In this paper are presented results of research conducted to identify sources of financing alternatives for local community. The study includes an analysis of the present situation on the financing of investments by local municipal bonds. The paper ends with the presentation of the benefits of municipal bonds and proposals on the development of this market.municipal bonds, local financing, bond interest rates

Indicators for the analysis of the evolution of the stock exchange

This paper comprises a study of the general indicators used for the overall evaluation of the performance of the stock exchange in Romania. Due to these indicators, investors can assess the volume and the dynamics of the respective market. Irrespective of whether the categories are considered together or separately, the number of available financial instruments is essential for institutional and specialised investors in their diversifying, arbitrage and hedging operations. The necessity to measure the volume, the quality and the intensity of the activity of the stock exchange through a series of specific quantitative and qualitative indicators led to the monitoring of their evolution, which makes it possible to be able to characterise the performance of the stock exchange and its level of development at a given period.technical indicators, trading volume

Dynamic development of municipal bonds on capital markets in Romania and contribution to regional development

Investment demand for regional economic development led to the use of increasingly diversified financial instruments. The local authorities in the capital market were achieved through municipal bonds, the most used financial vehicle in the category of fixed income instruments. In this paper is presented results of research on the use of municipal bonds to finance projects on local or regional level in Romania. Among the research results is included determining the degree of correlation between risk and return of financial instruments, but also a possible causal link between the amount of investments by region and degree of development of the region. In conclusion are shown several views on the use of municipal bond into investment portfolio management from investment funds from Romania.

FIXED INCOME INSTRUMENTS IN THE CAPITAL MARKET IN ROMANIA

The presence of government bonds on the Bucharest Stock Exchange has changed the behavior of institutional investors on capital market and revenues from these titles made them more attractive than those with variable income, such as shares. In this paper is presented results of research on fixed income instruments in the capital market in Romania. In conclusion, are presented some opinions about the possibility of diversification of fixed income instruments and aspects of their use in portfolio management

Proof of the HRT conjecture for (2,2) configurations

AbstractWe prove a particular case of the so-called “HRT conjecture”. More precisely, we show that given any planar trapezoid with vertices (tj,ξj)j=14∈R2 and given any nontrivial L2(R) function f, there is no linear dependence between the time-frequency translates f(x+tj)e2πiξjx. Our methods are mostly number theoretical

Financial Crisis from the Trust and Loss Aversion Perspective in Emerging Romanian Capital Market

In this paper we synthesized a study of financial crisis from the trust and loss aversion perspective on a particular case, Romanian emerging capital market. In a relative recent study we stopped with our data series at the level of 2008, November, but in this paper we continue our research until 2009, December. In a world-wide financial crisis and a global financial depreciation of stocks the emergent markets are much more affected that the lack of money and investors aversion. We study, based on efficient market theory, the evolution of portfolio structure in balanced funds. We are interesting to make an evaluation of present sentiment of investing money in capital markets and especially in stocks. Also, is necessary to determine which are the most important problems in this situation and seek an adequate stimulus for future development of direct investment