Citation
(2010), "Corporate finance under the mixture between microeconomic and macroeconomic determination. Analytical approach on CEE corporations", International Journal of Accounting & Information Management, Vol. 18 No. 1. https://doi.org/10.1108/ijaim.2010.36618aad.007
Publisher
:Emerald Group Publishing Limited
Copyright © 2010, Emerald Group Publishing Limited
Corporate finance under the mixture between microeconomic and macroeconomic determination. Analytical approach on CEE corporations
Article Type: AMIS statement and abstracts From: International Journal of Accounting and Information Management, Volume 18, Issue 1
Abstract
This paper explores the link between idiosyncratic and fundamental dimensions of the corporate finance within CEE countries. We elaborate a vector error correction model integrating both idiosyncratic and macro-related indicators. We expect idiosyncratic variables to be closely related to the macro-fundamentals and we anticipate the sign of the relation. Conclusions regarding the long-term relationship between these variables differ by country from the perspective of the way macro-related variables enter the co-integration equations. The impact is different according to the peculiarities of the macroeconomic architecture.
Keywords Idiosyncratic, Fundamentals, CEE countries, Macroeconomic
Petre Brezeanu and Cristina Maria Triandafil
The Bucharest Academy of Economic Studies, Bucharest, Romania
Corresponding author
Cristina Maria Triandafil can be contacted at: cristina_triandafil@yahoo.com