Institutional creditors avoid acknowledging that some assets - cash generating units - do not have a market value in the basic sense. These assets rather have a fair value, resulting from an average degree of return, which can be the basis of the lending decision.
Shareholders of public companies have valuable benefits from going public. The Romanian capital market has developed as a consequence of the real economy growth, and the number of public companies rose significantly. The owners ripped the benefits of going public, by the increase in the market values of their companies and by [...]