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Theoretical and Applied Economics
No. 7 / 2011 (560)

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

Antoniade-Ciprian ALEXANDRU
Ecological University of Bucharest
Nicoleta CARAGEA
Ecological University of Bucharest

Abstract. 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.

Keywords: market capitalization; portfolio structure; balanced funds; loss aversion.

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