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Consolidation of the Financing Decision on the Microeconomic Level

Dobrota, Gabriela and Chirculescu, Felicia (2007): Consolidation of the Financing Decision on the Microeconomic Level. Published in: The Annals of University of Oradea , Vol. 2, No. 16 (June 2007): pp. 288-292.


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The determination of financial structure represents an important decision within the domain of financial policy of the enterprise aiming to the combination of used resources on a reduction background relating to the fiancing costs. The financing decision shall not entirely depend on the enterprise, its objectives, its anticipated profitability or the risks it consents to bear, but it shall be influenced by shareholders, banks, state, and the way in which the economic mechanisms are functioning at the regional, national and global level. The economic and political situation recorded in Romania in the period following the year 1990 affected the economic and financial relations of Romanian enterprises. Within the essay, there are distinguished issues relating to the importance of the choosing decision for the enterprise financial structure, as well as the need for the strengthening of the financing decision within the train of events displayed by the market it acts on. A series of factors regarding the environment such as the inflation, the monetary policy, the exchange rate, the fiscality degree, and so on, exerted notable influences on the financing decision on the microeconomic level.

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