Theoretical and Applied Economics
No. 3 / 2016 (608), Autumn
RASDAQ: The final curtain
Babes-Bolyai University, Cluj-Napoca, Romania
Cristina BALINT
Babes-Bolyai University, Cluj-Napoca, Romania
Maria-Andrada GEORGESCU
National University of Political Studies and Public Administration, Romania
Ioan Alin NISTOR
Babes-Bolyai University, Cluj-Napoca, Romania
Abstract. The present paper continues the studies of Pop et al. (2014) and Pop et al. (2015) and completes the previous studies by presenting a brief survey of RASDAQ’s entire active life, the profile of RASDAQ indices, and focusing on the last 911 RASDAQ listed companies: their profile and their decision to be transferred on other market segments or to be delisted. The results of the present study confirms, from another viewpoint, the findings of Pop et al. (2014) and Pop et al. (2015): RASDAQ most important role was to assist the ownership concentration process, thus this role was fulfilled much later compared with the similar markets that existed within the former communist countries. The fulfillment of this role was confirmed by: a) no important trading activity for most of the listed companies between 2013 and 2015; b) weak January and weekend effects; c) low free float. Furthermore, by choosing to put an end to RASDAQ, the Romanian authorities acknowledged the fulfillment of this role and the fact that a radical transformation of this controversial market was almost impossible.
Keywords: equity market, Granger causality, January effect, weekend effect, RASDAQ.
Contents
- RASDAQ: The final curtain
Cornelia POP
Cristina BALINT
Maria-Andrada GEORGESCU
Ioan Alin NISTOR
- The relationship between public expenditure and economic
growth in Romania: Does it obey Wagner’s or Keynes’s Law?
Lingxiao WANG
Adelina DUMITRESCU PECULEA
Handuo XU
- Cracks in BRICs: A sectoral financial balances analysis
and implications for macroeconomic policy
Sashi SIVRAMKRISHNA
- An empirical study of factors influencing total unemployment
rate in comparison to youth unemployment rate
in selected EU member-states
Filip KOKOTOVIĆ
- Determinants of sovereign bond yields
in emerging economies: Some panel inferences
Sri Hari NAIDU. A
Phanindra GOYARI
Bandi KAMAIAH
- Investment funds and portfolio of loan guarantees
as financial steps proposals to support innovative
Small and Medium Enterprises
Mădălina Gabriela ANGHEL
Constantin ANGHELACHE
Daniel DUMITRESCU
- Dynamic relationship among foreign direct investments,
human capital, economic freedom and economic growth:
Evidence from panel cointegration and panel causality analysis
Oktay KIZILKAYA
Ahmet AY
Gökhan AKAR
- Integrating the issue of infrastructural investment
with economic growth: The case of India
Mukul GUPTA
Rahul BUDHADEV
Varun CHOTIA
N V Muralidhar RAO
- Globalization of the corruption phenomenon –
human capital gone wild
Dumitru-Alexandru BODISLAV
Ciprian ROTARU
Raluca GEORGESCU
- Predicting probability of default of Indian companies:
A market based approach
Bhanu Pratap SINGH
Alok Kumar MISHRA
- Statistical-econometric model used to analyze
the operational and insolvency risks
Constantin ANGHELACHE
Alexandru MANOLE
Mădălina Gabriela ANGHEL
Diana Valentina SOARE
- Short and long term analysis of some factors effecting youth
unemployment in Turkey
Rıza BAYRAK
Halim TATLI
- Determining the causal relationships among entrepreneurship,
educational attainment and per capita GDP in high-income
OECD countries
Feyza BALAN
Seda OZEKICIOGLU
Cuneyt KILIC
- Assessment of the bankruptcy risk
based on the solvency ratio
Daniel BRÎNDESCU-OLARIU
- Using simulation and modeling to improve career management
processes in organizations
Nicoleta Valentina FLOREA
- Commodity market integration and price transmission:
Empirical evidence from India
Pratap Kumar JENA
- Testing the relationship between military spending and private
investments: Evidence from Turkey
Gülbahar ÜÇLER
- Growth-finance nexus:
Empirical evidence from India
Tanzeem HASNAT
Shahid ASHRAF
Umer J. BANDAY
- Net earnings trends in the EU countries
Mădălina Ecaterina POPESCU
Amalia CRISTESCU
Larisa STĂNILĂ
- Communication and PR in crisis situations
Claudia Elena PAICU
Laurențiu Gabriel FRÂNCU