FACTORII MACROECONOMICI DE INFLUENŢĂ AI POLITICII DE FINANŢARE A COMPANIEI. CAZUL ROMÂNIEI
MACROECONOMIC INFLUENCE FACTORS OF THE COMPANY'S FUNDING POLICY. THE ROMANIAN CASE

Summary/Abstract: A fundamental decision concerns the choice of financial policy means of financing, which consists in determining, on the one hand, the volume of external financing compared to internal financing, and secondly, the choice of composition of external financing: equity or loan. Finance company policy must take into account the external constraints (policy framework existing in the country, inflation, credit policy of credit institutions, exchange rate) but also a number of specific problems (indebtedness, the use of existing capacity, news technology used, the work of the company). In order to see how the evolution of the interest rates have influenced the trend of loans granted by the loan establishments, this paper represents a structural and dynamic analysis of the evolution of the overall loans, with an emphasis on the non-governmental loans.

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