Alexandra Horobet | The Bucharest Academy of Economic Studies (original) (raw)

Papers by Alexandra Horobet

Research paper thumbnail of Rules and Discretion in Monetary Policy: Is the Response of the Stock Market Rational?

Expert Journal of Economics, Apr 16, 2015

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Research paper thumbnail of Exchange Rate Volatility in the Balkans and Eastern Europe: Implications for International Investments

Contributions to Economics, 2016

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Research paper thumbnail of Relevance of Corporate Social Responsibility Indicators for Measuring Financial Performance

Revista Economica, 2013

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Research paper thumbnail of Corporate Social Responsibility at the Global Level: an Investigation of Performances and Integration of Socially Responsible Investments

Economics & Sociology, 2012

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Research paper thumbnail of Time-varying Diversification Benefits: The Impact of Capital Market Integration on European Portfolio Holdings

The Economic Crisis and European Integration, 2011

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Research paper thumbnail of Searching For Causes Of The Current Financial Crisis: On Risk Underassessment And Ignorance

Review of Economic and Business Studies, 2010

... Alexandra HOROBEŢ 196 ... The financial euphoria in the last years, the unprecedented number ... more ... Alexandra HOROBEŢ 196 ... The financial euphoria in the last years, the unprecedented number of financial innovations, the development of highly risky financial instruments, not always sufficiently tested and understood, the insurance and reinsurance of risk (although the risk ...

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Research paper thumbnail of ROMANIAN INSURANCE BUSINESS TRENDS AND THE INTERNATIONAL CRISIS EFFECTS ON IT

Is it interesting a 2 billion euro insurance market for the “old†Europe? “Not very much†o... more Is it interesting a 2 billion euro insurance market for the “old†Europe? “Not very much†one may say considering this figure represents no more than 16% of the insurance turn-over in the case of the most recent entry in the Romanian market, Groupama. The answer is still not as simple as that because “interesting†in business terms is not only about today, but very much about tomorrow. By the end of 2007 it was obvious that the Romanian insurance market is far from calming down. Not only that for the time being change is still the main real constant in use, but figures show that the market environment becomes more challenging than ever these days. The market situation showed that this allegation it was by that time more likely to be true than ever.

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Research paper thumbnail of THE EUROPEAN ENERGY MARKET AT THE CROSSROADS

This paper aims to analyse the status quo of the EU energy markets in terms of regulatory framewo... more This paper aims to analyse the status quo of the EU energy markets in terms of regulatory framework and degree of competition and to recommend improvements of the system in order to balance the issues of competition, energy security and environment protection in the EU energy markets.

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Research paper thumbnail of MBA education: a must in a competitive Romanian business environment

The effective management of Romanian companies can represent an advantage in a competitive busine... more The effective management of Romanian companies can represent an advantage in a competitive business environment, shaped by the end of transition, the EU membership and the globalization process. MBA programs represent, in our view, the key for the implementation of management theories and practices whose effectiveness has been validated by Western countries experience. The Romanian market developed slowly since 1993,

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Research paper thumbnail of REAL EXCHANGE RATES AND STOCK PRICES: INSIGHTS INTO THE COMPETITIVENESS OF ROMANIAN ECONOMY

The paper investigates the dynamic links between stock prices and exchange rates in Romania, afte... more The paper investigates the dynamic links between stock prices and exchange rates in Romania, after 1997, considering the changes in the exchange rate regime occurred after 1997. The research employs advanced econometric methods – cointegration and Granger causality tests, in order to capture the bi-directional influences between stock prices and exchange rates, applied to monthly data over the 1999-2007 period.

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Research paper thumbnail of Regulation versus Competition on European Financial Markets

Competition is the mechanism that helps companies, institutions and markets to become more produc... more Competition is the mechanism that helps companies, institutions and markets to become more productive and efficient. one of the main obstacles to economic growth is represented by the policies that hinder competition. Excessive protection may create a handicap for the European economic system which will have not all the necessary instruments to face the increasing competition between companies, countries, economic

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Research paper thumbnail of INTERNATIONAL INVESTMENTS WITH EXCHANGE RATE RISK: THE CASE OF CENTRAL AND EASTERN EUROPE CURRENCIES

The paper investigates the impact that exchange rate risk has on the risk-return profile of inves... more The paper investigates the impact that exchange rate risk has on the risk-return profile of investments in emerging countries. The emerging countries under scrutiny are Czech Republic, Hungary, Poland, Romania, Russia and Turkey, all from Central and Eastern Europe. We examine the importance of currency risk from the perspective of a US dollar based investor, by looking at the contribution

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Research paper thumbnail of Building Partnerships Between Businesses And Romanian Universities: A New Strategic Approach

Balkan Region Conference on Engineering and Business Education, 2014

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Research paper thumbnail of European Union Membership and Exchange Rate Convergence in Central and Eastern Europe

The enlargement of the European Union in 2004 and 2007, with the accession of twelve Central and ... more The enlargement of the European Union in 2004 and 2007, with the accession of twelve Central and South-Eastern European countries, out of which ten are former- communist states, marks an economic and political experiment that is radically different from all previous EU adhesions. The integration process of these countries will directly influence their monetary and financial markets, considering their specific

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Research paper thumbnail of On the Causal Relationship between Stock Prices and Exchange Rates: Evidence from Romania

SSRN Electronic Journal, 2000

... 12, No. 5, pp. 291-346 12 El-Masry, A. (2003), “The Exchange Rate Exposure of UK Nonfinancial... more ... 12, No. 5, pp. 291-346 12 El-Masry, A. (2003), “The Exchange Rate Exposure of UK Nonfinancial Companies: Industry-Level Analysis” Manchester Business School Working Paper Page 3. ... Among others, Abdullah and Hayworth (1993)26 and Chen et. ...

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Research paper thumbnail of EXCHANGE RATES AND VOLATILITY IN CENTRAL AND EASTERN EUROPE: A TEST FOR UNCOVERED INTEREST PARITY

At times of heightened global capital market volatility, high-yielding currencies tend to depreci... more At times of heightened global capital market volatility, high-yielding currencies tend to depreciate, while low-yielding currencies tend to serve as a€ssafe heavena€t. We present the results of a test for Uncovered Interest Parity for selected European cu

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Research paper thumbnail of (A Psychosemantic Look on Attitudes Towards Demand of Imported Goods in Bulgaria)

SSRN Electronic Journal, 2000

ABSTRACT

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Research paper thumbnail of DYNAMIC TRADE-OFFS IN FINANCIAL PERFORMANCES OF ROMANIAN COMPANIES

feaa.uaic.ro

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Research paper thumbnail of ASSET ALLOCATION POLICIES OF ROMANIAN PENSION FUNDS AND CAPITAL MARKET DEVELOPMENT

The paper addresses the issue of asset allocation policies of Romanian pension funds and the pote... more The paper addresses the issue of asset allocation policies of Romanian pension funds and the potential impact they may have in the development of local capital markets, through active involvement in terms of investing funds, capital market expertise and improvements in corporate governance practices in Romanian companies. We analyze the investment alternatives available to Romanian pension funds starting from the limits imposed by the law and we discuss the proposed asset allocation strategies presented in funds’ issuance prospects.

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Research paper thumbnail of FINANCIAL MARKETS INTEGRATION AND PORTFOLIO REALLOCATIONS FOR EUROPEAN INVESTORS

soton.ac.uk

Our paper explores the area of time-varying benefits that European investors obtain from holding ... more Our paper explores the area of time-varying benefits that European investors obtain from holding internationally diversified portfolios from the perspective of changing preferences for home against foreign assets holdings. We offer insight into the reallocation ...

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Research paper thumbnail of Rules and Discretion in Monetary Policy: Is the Response of the Stock Market Rational?

Expert Journal of Economics, Apr 16, 2015

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Exchange Rate Volatility in the Balkans and Eastern Europe: Implications for International Investments

Contributions to Economics, 2016

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Relevance of Corporate Social Responsibility Indicators for Measuring Financial Performance

Revista Economica, 2013

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Corporate Social Responsibility at the Global Level: an Investigation of Performances and Integration of Socially Responsible Investments

Economics & Sociology, 2012

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Time-varying Diversification Benefits: The Impact of Capital Market Integration on European Portfolio Holdings

The Economic Crisis and European Integration, 2011

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Searching For Causes Of The Current Financial Crisis: On Risk Underassessment And Ignorance

Review of Economic and Business Studies, 2010

... Alexandra HOROBEŢ 196 ... The financial euphoria in the last years, the unprecedented number ... more ... Alexandra HOROBEŢ 196 ... The financial euphoria in the last years, the unprecedented number of financial innovations, the development of highly risky financial instruments, not always sufficiently tested and understood, the insurance and reinsurance of risk (although the risk ...

Bookmarks Related papers MentionsView impact

Research paper thumbnail of ROMANIAN INSURANCE BUSINESS TRENDS AND THE INTERNATIONAL CRISIS EFFECTS ON IT

Is it interesting a 2 billion euro insurance market for the “old†Europe? “Not very much†o... more Is it interesting a 2 billion euro insurance market for the “old†Europe? “Not very much†one may say considering this figure represents no more than 16% of the insurance turn-over in the case of the most recent entry in the Romanian market, Groupama. The answer is still not as simple as that because “interesting†in business terms is not only about today, but very much about tomorrow. By the end of 2007 it was obvious that the Romanian insurance market is far from calming down. Not only that for the time being change is still the main real constant in use, but figures show that the market environment becomes more challenging than ever these days. The market situation showed that this allegation it was by that time more likely to be true than ever.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of THE EUROPEAN ENERGY MARKET AT THE CROSSROADS

This paper aims to analyse the status quo of the EU energy markets in terms of regulatory framewo... more This paper aims to analyse the status quo of the EU energy markets in terms of regulatory framework and degree of competition and to recommend improvements of the system in order to balance the issues of competition, energy security and environment protection in the EU energy markets.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of MBA education: a must in a competitive Romanian business environment

The effective management of Romanian companies can represent an advantage in a competitive busine... more The effective management of Romanian companies can represent an advantage in a competitive business environment, shaped by the end of transition, the EU membership and the globalization process. MBA programs represent, in our view, the key for the implementation of management theories and practices whose effectiveness has been validated by Western countries experience. The Romanian market developed slowly since 1993,

Bookmarks Related papers MentionsView impact

Research paper thumbnail of REAL EXCHANGE RATES AND STOCK PRICES: INSIGHTS INTO THE COMPETITIVENESS OF ROMANIAN ECONOMY

The paper investigates the dynamic links between stock prices and exchange rates in Romania, afte... more The paper investigates the dynamic links between stock prices and exchange rates in Romania, after 1997, considering the changes in the exchange rate regime occurred after 1997. The research employs advanced econometric methods – cointegration and Granger causality tests, in order to capture the bi-directional influences between stock prices and exchange rates, applied to monthly data over the 1999-2007 period.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Regulation versus Competition on European Financial Markets

Competition is the mechanism that helps companies, institutions and markets to become more produc... more Competition is the mechanism that helps companies, institutions and markets to become more productive and efficient. one of the main obstacles to economic growth is represented by the policies that hinder competition. Excessive protection may create a handicap for the European economic system which will have not all the necessary instruments to face the increasing competition between companies, countries, economic

Bookmarks Related papers MentionsView impact

Research paper thumbnail of INTERNATIONAL INVESTMENTS WITH EXCHANGE RATE RISK: THE CASE OF CENTRAL AND EASTERN EUROPE CURRENCIES

The paper investigates the impact that exchange rate risk has on the risk-return profile of inves... more The paper investigates the impact that exchange rate risk has on the risk-return profile of investments in emerging countries. The emerging countries under scrutiny are Czech Republic, Hungary, Poland, Romania, Russia and Turkey, all from Central and Eastern Europe. We examine the importance of currency risk from the perspective of a US dollar based investor, by looking at the contribution

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Building Partnerships Between Businesses And Romanian Universities: A New Strategic Approach

Balkan Region Conference on Engineering and Business Education, 2014

Bookmarks Related papers MentionsView impact

Research paper thumbnail of European Union Membership and Exchange Rate Convergence in Central and Eastern Europe

The enlargement of the European Union in 2004 and 2007, with the accession of twelve Central and ... more The enlargement of the European Union in 2004 and 2007, with the accession of twelve Central and South-Eastern European countries, out of which ten are former- communist states, marks an economic and political experiment that is radically different from all previous EU adhesions. The integration process of these countries will directly influence their monetary and financial markets, considering their specific

Bookmarks Related papers MentionsView impact

Research paper thumbnail of On the Causal Relationship between Stock Prices and Exchange Rates: Evidence from Romania

SSRN Electronic Journal, 2000

... 12, No. 5, pp. 291-346 12 El-Masry, A. (2003), “The Exchange Rate Exposure of UK Nonfinancial... more ... 12, No. 5, pp. 291-346 12 El-Masry, A. (2003), “The Exchange Rate Exposure of UK Nonfinancial Companies: Industry-Level Analysis” Manchester Business School Working Paper Page 3. ... Among others, Abdullah and Hayworth (1993)26 and Chen et. ...

Bookmarks Related papers MentionsView impact

Research paper thumbnail of EXCHANGE RATES AND VOLATILITY IN CENTRAL AND EASTERN EUROPE: A TEST FOR UNCOVERED INTEREST PARITY

At times of heightened global capital market volatility, high-yielding currencies tend to depreci... more At times of heightened global capital market volatility, high-yielding currencies tend to depreciate, while low-yielding currencies tend to serve as a€ssafe heavena€t. We present the results of a test for Uncovered Interest Parity for selected European cu

Bookmarks Related papers MentionsView impact

Research paper thumbnail of (A Psychosemantic Look on Attitudes Towards Demand of Imported Goods in Bulgaria)

SSRN Electronic Journal, 2000

ABSTRACT

Bookmarks Related papers MentionsView impact

Research paper thumbnail of DYNAMIC TRADE-OFFS IN FINANCIAL PERFORMANCES OF ROMANIAN COMPANIES

feaa.uaic.ro

Bookmarks Related papers MentionsView impact

Research paper thumbnail of ASSET ALLOCATION POLICIES OF ROMANIAN PENSION FUNDS AND CAPITAL MARKET DEVELOPMENT

The paper addresses the issue of asset allocation policies of Romanian pension funds and the pote... more The paper addresses the issue of asset allocation policies of Romanian pension funds and the potential impact they may have in the development of local capital markets, through active involvement in terms of investing funds, capital market expertise and improvements in corporate governance practices in Romanian companies. We analyze the investment alternatives available to Romanian pension funds starting from the limits imposed by the law and we discuss the proposed asset allocation strategies presented in funds’ issuance prospects.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of FINANCIAL MARKETS INTEGRATION AND PORTFOLIO REALLOCATIONS FOR EUROPEAN INVESTORS

soton.ac.uk

Our paper explores the area of time-varying benefits that European investors obtain from holding ... more Our paper explores the area of time-varying benefits that European investors obtain from holding internationally diversified portfolios from the perspective of changing preferences for home against foreign assets holdings. We offer insight into the reallocation ...

Bookmarks Related papers MentionsView impact