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Model of investment analysis in an uncertain environment


  • Constantin ANGHELACHE

    (Universitatea „ARTIFEX” din Bucuresti, Academia de Studii Economice, Bucuresti)

  • Alexandru MANOLE

    (Universitatea „ARTIFEX” din Bucuresti)

  • Andreea MARINESCU

    (Academia de Studii Economice, Bucuresti)


In this study, we have proposed to analyze the situation in which an investment project is developed within an uncertainty environment. In fact, no matter how many data we have available during an investment process, uncertain issues occur. An economic environment, deterministic, even if it assumes the anticipation of costs, risk elements can occur. The definition of risk itself, as uncertain element, leads to the setup of a model on whose basis all the variables should be identified, together with the correlation between those. There are cases when the economic environment is non-saturated from the monetary-financial viewpoint, and thus these moments must be identified, measured and controlled. On this topic, we have identified the indicators used for the substantiation of the investment decision in an uncertain environment. We shall define the concept of uncertain environment and the perspective of cash-flow and risks forecasts will be analyzed. We granted proper attention to the update rate of investment projects, subsequent to the occurrence of risky random variables. The study is completed with practical analysis models.

Suggested Citation

  • Constantin ANGHELACHE & Alexandru MANOLE & Andreea MARINESCU, 2016. "Model of investment analysis in an uncertain environment," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(8), pages 77-84, August.
  • Handle: RePEc:rsr:supplm:v:64:y:2016:i:8:p:77-84

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    References listed on IDEAS

    1. Constantin ANGHELACHE & Madalina Gabriela ANGHEL, 2015. "Theoretical aspects concerning the use of the statistical-econometric instruments the analysis of the financial assets," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 63(9), pages 44-48, September.
    2. Constantin Anghelache & Alexandru-Lucian Manole & Daniel Dumitrescu, 2015. "The Correlation between Final Consumption, Gross Available Income and Gross Investment: An Econometric Analysis," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 5(4), pages 84-88, October.
    3. Alin OPREANA, 2015. "A New Perspective of Investment Modelling at the European Union Level," Expert Journal of Economics, Sprint Investify, vol. 3(2), pages 143-148.
    4. William Miles, 2009. "Irreversibility, Uncertainty and Housing Investment," The Journal of Real Estate Finance and Economics, Springer, vol. 38(2), pages 173-182, February.
    5. Bart M. Lambrecht & Stewart C. Myers, 2007. "A Theory of Takeovers and Disinvestment," Journal of Finance, American Finance Association, vol. 62(2), pages 809-845, April.
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