ASSESSING FINANCIAL EQUILIBRIUM OF THE ROMANIAN COMPANIES TRADED AT BUCHAREST STOCK EXCHANGE

Abstract: This paper presents a model of financial equilibrium analysis. The model is based on relation between net working capital, necessary of working capital and net treasury of the firm. Based on the Pearson correlation coefficient and rank Spearman correlation coefficient, we have determined the intensity of the connection between the stability level, which is an expression of long term equilibrium, and different financial indicators yearly adjusted. Its applicability on Romanian companies traded at Bucharest Stock Exchange is limited by the insufficient amount of information. The list of indicators related to stability should be completed with some more indicators, such as the added value, the expenses profitableness, the financial result and so on. It is well-known that the life of an enterprise represents a succession of circumstances which drives to situations more or less difficult. Some of them are prevented and avoided even before they occur, others the most serious, are sometimes hard to endure and become fatal for the enterprise. To maintain of a good financial situation, to continue the activity in conditions of efficiency and efficacy, to reach the goals established, the enterprise and her managers must continually adapt the way of administration in the aim to compensate the changes that the socio-economical environment has on the activity of the enterprise. The neglect of this changes and the absence of proper administration measure compromise the maintaining of a good financial situation. The problem of financial equilibrium is often associated with financial stability. An enterprise is financial stable if it has a good financial situation. A way to measure stability is based on the opinion that stability is considered the situation in which there is a consistency between the amount and the structure of allowances in time as it follows [1]: Long term resources finance long term utilizations Short term resources finance short term utilization