A SECTORIAL ANALYSIS OF THE FINANCING PRACTICES OF THE ROMANIAN COMPANIES LISTED ON BUCHAREST STOCK EXCHANGE

Maintaining the market share of a company, as well as increasing it, implies using an adequate financial policy. The liabilities ratios allow the analysis of this adopted financial policy, by giving useful information about the structure of financing (debt or equity), emphasizing upon some important aspects like financial stability, financial autonomy or indebt. In this paper, the authors try to realize an empirical analysis, upon a sample of 40 reprezentative Romanian companies, all listed on Bucharest Stock Exchange, from different fields of activity (financial, energetic, quemical, equipments and materials sector). Using their financial statements for the period 2002-2007, for the computation of the financial ratios, the authors draw up useful and recent information about the pecularities or similarities between the 5 different sectors, as far as concerns the structure of their liabilities.