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  1. Article ; Online: Probability of informed trading during the COVID-19 pandemic: the case of the Romanian stock market.

    Cepoi, Cosmin Octavian / Dragotă, Victor / Trifan, Ruxandra / Iordache, Andreea

    Financial innovation

    2023  Volume 9, Issue 1, Page(s) 34

    Abstract: Using data from the Bucharest Stock Exchange, we examine the factors influencing the probability of informed trading (PIN) during February-October 2020, a COVID-19 pandemic period. Based on an unconditional quantile regression approach, we show that PIN ... ...

    Abstract Using data from the Bucharest Stock Exchange, we examine the factors influencing the probability of informed trading (PIN) during February-October 2020, a COVID-19 pandemic period. Based on an unconditional quantile regression approach, we show that PIN exhibit asymmetric dependency with liquidity and trading costs. Furthermore, building a customized database that contains all insider transactions on the Bucharest Stock Exchange, we reveal that these types of orders monotonically increase the information asymmetry from the 50th to the 90th quantile throughout the PIN distribution. Finally, we bring strong empirical evidence associating the level of information asymmetry to the level of fake news related to the COVID-19 pandemic. This novel result suggests that during episodes when the level of PIN is medium to high (between 15 and 50%), any COVID-19 related news classified as misinformation released during the lockdown period, is discouraging informed traders to place buy or sell orders conditioned by their private information.
    Language English
    Publishing date 2023-01-15
    Publishing country Germany
    Document type Journal Article
    ZDB-ID 2824759-0
    ISSN 2199-4730 ; 2199-4730
    ISSN (online) 2199-4730
    ISSN 2199-4730
    DOI 10.1186/s40854-022-00415-9
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  2. Article ; Online: Dividend payout ratio follows a Tweedie distribution

    Dragotă Victor / Pele Daniel Traian / Yaseen Hanaan

    Economics: Journal Articles, Vol 13, Iss

    international evidence

    2019  Volume 1

    Abstract: Dividend policy is still a largely discussed issue in corporate finance literature. One of the main indicators used in analysing the dividend policy is the dividend payout ratio. Using a database consisting of 12,085 companies operating in 73 countries, ... ...

    Abstract Dividend policy is still a largely discussed issue in corporate finance literature. One of the main indicators used in analysing the dividend policy is the dividend payout ratio. Using a database consisting of 12,085 companies operating in 73 countries, for the period 2008–2014, the authors found that the dividend payout ratio follows a Tweedie distribution, and not a normal one. This distribution is stable over time for the entire analysed period. In addition, it describes the case of almost all the countries included in the sample. Thus, a better estimation of the probability that dividend payout ratio is lower or higher than a benchmark can be provided. Also, an analysis of dividend policy, distinctly considering payer versus non-payer companies, can offer additional important information for both practitioners and academics.
    Keywords dividend policy ; dividend payout ratio ; tweedie distribution ; g35 ; c01 ; c51 ; c55 ; Social Sciences ; H ; Economics as a science ; HB71-74
    Subject code 338
    Language English
    Publishing date 2019-12-01T00:00:00Z
    Publisher De Gruyter
    Document type Article ; Online
    Database BASE - Bielefeld Academic Search Engine (life sciences selection)

    Full text online

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  3. Article: The unusual case of the discount offers for taking the control

    Dragotă, Victor / Ciobanu, Radu

    Prague economic papers : a bimonthly journal of economic theory and policy Vol. 26, No. 1 , p. 36-54

    evidence from Romania

    2017  Volume 26, Issue 1, Page(s) 36–54

    Author's details Victor Dragotă, Radu Ciobanu
    Keywords control premium ; discount offer ; discount for control ; mergers and acquisitions ; agency problems ; Romania
    Language English
    Publisher Oeconomica Publ
    Publishing place Prague
    Document type Article
    ZDB-ID 1112445-3 ; 2589037-2
    ISSN 2336-730X ; 1210-0455
    ISSN (online) 2336-730X
    ISSN 1210-0455
    Database ECONomics Information System

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  4. Article: Market efficiency of the Post Communist East European stock markets

    Dragotă, Victor / Ţilică, Elena Valentina

    Central European journal of operations research : CEJOR ; official journal of the Austrian, Croatian, Czech, Hungarian, Slovakian and Slovenian OR Societies Vol. 22, No. 2 , p. 307-337

    2014  Volume 22, Issue 2, Page(s) 307–337

    Author's details Victor Dragotă; Elena Valentina Ţilică
    Keywords Efficient markets hypothesis (EMH) ; Weak form EMH ; Emerging markets ; Capital markets ; Post Communist Eastern European Countries ; Financial crisis
    Language English
    Size graph. Darst.
    Publisher Springer
    Publishing place Berlin ; Heidelberg
    Document type Article
    ZDB-ID 1178875-6 ; 2093829-9
    ISSN 1613-9178 ; 1435-246X
    ISSN (online) 1613-9178
    ISSN 1435-246X
    Database ECONomics Information System

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  5. Article: Agency problems and synergistic effects in Romania

    Dragotă, Victor / Ciobanu, Radu / Lipară, Carmen

    Finance a úvěr Vol. 63, No. 2 , p. 197-219

    the determinants of the control premium

    2013  Volume 63, Issue 2, Page(s) 197–219

    Author's details Victor Dragotă; Carmen Lipară; Radu Ciobanu
    Keywords Corporate Governance ; Übernahme ; Kontrolle ; Verhandlungsmacht ; Synergie ; Prinzipal-Agent-Theorie ; Rumänien
    Language English
    Size graph. Darst.
    Publisher Economia
    Publishing place Praha
    Document type Article
    ZDB-ID 860318-2 ; 2463945-X
    ISSN 0015-1920
    ISSN 0015-1920
    Database ECONomics Information System

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  6. Book: Politica de dividend

    Dragotă, Victor

    o abordare în contextul mediului economic din România

    (Finanţe, contabilitate)

    2003  

    Author's details Victor Dragotă
    Series title Finanţe, contabilitate
    Keywords Dividende ; Asymmetrische Information ; Prinzipal-Agent-Theorie ; Rumänien
    Language Romanian
    Size 189 S., graph. Darst.
    Publisher Ed. All Beck
    Publishing place Bucureşti
    Document type Book
    Note Literaturverz. S.181 - 189
    ISBN 9736553833 ; 9789736553837
    Database ECONomics Information System

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  7. Article: Income taxation regulation and companies' behaviour

    Dragotă, Mihaela / Dragotă, Victor / Ţâţu, Delia / Ţâţu, Lucian

    Romanian journal of economic forecasting Vol. X. 2009, No. 1, S. 76-93

    is the Romanian companies' dividend policy influenced by the changes in income taxation

    2009  , Issue 1

    Author's details Mihaela Dragotă; Victor Dragotă; Lucian Ţâţu; Delia Ţâţu
    Keywords Dividende ; Körperschaftsteuer ; Gewinnverwendung ; Eigentümerstruktur ; Prinzipal-Agent-Theorie ; Rumänien
    Language English
    Publisher Institute of Economic Forecasting
    Publishing place Bucharest
    Document type Article
    ZDB-ID 2295991-9
    ISSN 1222-5436
    Database ECONomics Information System

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  8. Article: Some considerations on the relationship between corruption and economic growth

    Dragotǎ, Victor / Obreja Braşoveanu, Laura / Semenescu, Andreea

    Risk management and value : valuation and asset price , p. 71-95

    2008  , Page(s) 71–95

    Author's details Victor Dragotǎ, Laura Obreja Braşoveanu and Andreea Semenescu
    Keywords Korruption ; Index ; Wirtschaftswachstum ; Regression ; Welt
    Language English
    Size graph. Darst.
    Publisher World Scientific
    Publishing place Singapore [u.a.]
    Document type Article
    ISBN 978-981-277-073-8 ; 981-277-073-9
    Database ECONomics Information System

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  9. Article: The development of the Romanian capital market

    Bensafta, Malik / Dragotă, Victor / Mitrică, Eugen / Pele, Daniel Traian / Stoian, Adreea

    Romanian journal of economic forecasting Vol. X. 2009, No. 2, S. 147-160

    evidences on information efficiency

    2009  , Issue 2

    Author's details Victor Dragotă; Adreea Stoian; Daniel Traian Pele; Eugen Mitrică; Malik Bensafta
    Keywords Finanzmarkt ; Effizienzmarkthypothese ; Informationseffizienz ; Random Walk ; Rumänien
    Language English
    Publisher Institute of Economic Forecasting
    Publishing place Bucharest
    Document type Article
    ZDB-ID 2295991-9
    ISSN 1222-5436
    Database ECONomics Information System

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