Gudan Paulina () and
Oprea Margareta ()
Additional contact information Gudan Paulina: “Valahia” University of Târgoviste
Oprea Margareta: “Rosiori de Vede” Economical-Administrative High School
Abstract:
Disclosure is an effective mechanism to expose financial risk management practices to market discipline. Disclosure should be sufficiently comprehensive to meet the needs of users within the constraints of what can reasonably be required. Improved transparency through better disclosure may reduce the chances of a systemic financial crisis or the effects of contagion because creditors and other market participants will be better able to distinguish between the financial circumstances that face different institutions or countries.