{"title":"THE IMPACT OF THE ALTMAN SCORE ON THE ENERGY SECTOR COMPANIES","authors":"Maria-Lenuţa Ciupac-Ulici, Daniela-Georgeta Beju, Ioan-Alin Nistor, Flaviu Pișcoran","doi":"10.55654/jfs.2023.sp.03","DOIUrl":"https://doi.org/10.55654/jfs.2023.sp.03","url":null,"abstract":"The financial literature regarding bankruptcy prediction models includes the application of several statistical tools which have progressively become accessible. This paper explores the impact of the Altman score on the stock prices of the Romanian companies listed on the Bucharest Stock Exchange during the period 2014-2022. The Altman score is calculated based on the annual reports of the analyzed companies collected from the Bloomberg database, while the stock exchange prices are collected from the Euromonitor database. The methodology used in the analysis is panel regression realized with the Generalized Method of Movements technique. The data is processed using the EViews software. This research study shows that there is a negative correlation between the Altman Z score and the companies’ share price. In terms of theoretical contribution, this study investigates one of the bankruptcy prediction models that is used more often than other models, namely the Altman Z-Score.","PeriodicalId":32567,"journal":{"name":"Revista de Studii Financiare","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135343985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"INTERNAL DETERMINANTS OF PROFITABILITY IN PUBLIC ALGERIAN BANKS","authors":"Ameur Imane, Zerouti Messaoud, Bouchetara Mehdi","doi":"10.55654/jfs.2023.sp.07","DOIUrl":"https://doi.org/10.55654/jfs.2023.sp.07","url":null,"abstract":"This research attempts to identify the internal factors that determine public banks’ profitability in Algeria, by investigating the effect of each one of them on profitability over the period 2011 – 2019, using the system-generalized method of moments. The findings indicate that the bank-specific determinants, with the exception of capitalization and leverage, are positively related to bank performance. These results have important implications for banks’ survival and growth. It is expected that this study will guide the policy makers and bank management in the formulation and implementation of better policies and strategies which may lead to better performance of banks in Algeria.","PeriodicalId":32567,"journal":{"name":"Revista de Studii Financiare","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135343989","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"THE CONTRIBUTION OF THE EU FDIs TO THE REDUCTION OF ROMANIA'S MANUFACTURING PRODUCTION CO2 EMISSIONS: HIGHER EXPORTS AND GDP GROWTH","authors":"Vlad Epurescu","doi":"10.55654/jfs.2023.sp.06","DOIUrl":"https://doi.org/10.55654/jfs.2023.sp.06","url":null,"abstract":"Reducing the CO2 footprint of Romanian manufacturing production under the positive influence of the EU foreign direct investments (FDIs) can have a substantial contribution to Romania’s presence on the EU common market. Moreover, it might contribute to the increase the country’s GDP. To prove the assumptions, the author developed an econometric model that he called „A predictive model of the CO2 emissions inter-country interaction”, based on multiple linear regression, using a highly unique and latest database published by Eurostat, in 2022. He also designed several scenarios regarding the positive impact on the Romanian economy based on reducing the CO2 emissions generated by the EU FDIs. In the base scenario, a 1.5% annual reduction of the CO2 emissions generated in Romania due to the FDIs originating from the EU Member States could stimulate an 1% annual increase of the intra-community deliveries. This impact would determine an increase of Romania’s GDP by 0.3%. To have a realistic contribution to achieving the goal of a net zero economic model, the EU FDIs should obtain, between 2025 – 2050, a ten-time decreasing rhythm of their CO2 emissions. From minus 0.4%, the actual average decrease annual level between 2010 – 2020, the FDIs must decrease their emissions by 4% per year. This would increase Romania’s annual intra-deliveries by 2.6%, adding 0.8% per year to Romania’s GDP growth.","PeriodicalId":32567,"journal":{"name":"Revista de Studii Financiare","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135344816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"BIBLIOMETRIC ANALYSIS ON THE COVID-19 IMPACT ON CORPORATE SUSTAINABILITY","authors":"Hiranya Dissanayake, D.B.P.H. Dissabandara, K.L.W. Perera, A.R. Ajward","doi":"10.55654/jfs.2023.sp.04","DOIUrl":"https://doi.org/10.55654/jfs.2023.sp.04","url":null,"abstract":"The importance of achieving sustainable development goals is reconsidered due to the COVID-19 pandemic. There are studies that have been conducted to analyze the impact of COVID-19 on corporate sustainability. Nonetheless, there is scant research that has synthesized the literature on the impact of COVID-19 on corporate sustainability. The objectives of this study are to highlight major challenges and current trends in the domain of COVID-19’s effects on corporate sustainability, as well as to make recommendations for future research directions. The volume of research on COVID-19 and corporate sustainability between 2020 and 2022 is examined using a bibliometric analysis of 397 studies from the SCOPUS database. Using Biblioshiny software, researchers in this study selected the highly impactful authors, sources, nations, and documents based on their citations and the number of publications. Sustainability is a highly influential journal, and Ho M.T. is a highly influential author with 354 citations. There are few studies on this topic, but India and the United States have published the most articles. In addition, the themes discussed by the researchers fall into three clusters based on Multiple Correspondence Analysis (MCA) including COVID-19’s impact on sustainability, COVID-19’s impact on environmental sustainability, and COVID-19’s impact on digitalization. Finally, this study suggests relevant study directions for future studies using thematic map analysis. The areas that include COVID-19 impact on education, digitalization, cities, and environmental sustainability are the recommendations for future researchers. In addition, this study assists practitioners and policymakers in understanding the impact of the COVID-19 pandemic on corporate sustainability and taking appropriate actions to achieve sustainable development goals (SDGs).","PeriodicalId":32567,"journal":{"name":"Revista de Studii Financiare","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135344827","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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