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Research regarding creditworthiness estimation for bond issuers listed on Bucharest Stock Exchange

Author

Listed:
  • Ioan Ovidiu Spătăcean

    (Faculty of Economics and Law, ED1 Department - Economic Sciences, University of Medicine, Pharmacy, Sciences and Technology "George Emil Palade" from Targu Mures, Gh. Marinescu Street, no. 38, Targu Mures, 540139, Romania)

  • Crina Mihaela Pungea

Abstract

The purpose of this research is to test the resilience of issuers to the financial pressure generated by the commitments made in connection with the issuance of debt instruments (bonds) and to identify issuers whose financial position and performance present the susceptibility of a major default risk. The research actions involved determining the indicators specific to the fundamental analysis, applying the classic insolvency risk assessment models (Altman and Conan Holder) and assessing the future evolution of the key financial indicators on the basis of the forecasts. The results obtained confirm or disprove the existence of significant uncertainties regarding the ability to repay the bond loans.

Suggested Citation

  • Ioan Ovidiu Spătăcean & Crina Mihaela Pungea, 2020. "Research regarding creditworthiness estimation for bond issuers listed on Bucharest Stock Exchange," Acta Marisiensis. Series Oeconomica, "George Emil Palade" University of Medicine, Pharmacy, Sciences and Technology of Târgu-Mureș, România - Faculty of Economics and Law, vol. 1, pages 41-46, December.
    • Handle: RePEc:pmu:oecono:v:1:y:2020:p:41-46
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    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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