INTERPRETATIONS RELATED TO THE DEVELOPMENT OF THE ECONOMIC AND FINANCIAL COMMUNICATION ON A GROUP LEVEL

Marian SOCOLIUC

Abstract


The financial crisis that was triggered in July 2007 has had serious repercussions and negative consequences on the global economy, with severe effects that are still visible more than four years later and mainly consist in the inability of most countries to overcome this distressing situation.

Under such circumstances, financial markets worldwide have recorded high increases in the fluctuation of securities and stock indicators, an occurrence that has worsened lately due to the crisis that has wreaked havoc in the finances of European countries. Thus, economic systems have had to observe a series of criteria that represent both the lever and the fundamental rules of organisational behaviour. Only by meeting these criteria can a company establish potentially positive relationships with its partners.

The main objective of this paper is to emphasize and analyse the role and the importance of economic and financial communication in the new international framework, to create a common language between large, medium and small sized enterprises and thus ensure the free circulation of capital and workforce.

Another additional objective is to support the development and improvement of the economic and financial communication by designing a Balanced Scorecard model founded on five pillars and covering certain subject areas that are vital for the proper development of the main activities and for improving the company image, particularly when interacting with business partners.


Keywords


economic and financial communication; financial reporting; globalization; financial information; Balance Scorecard; indicators

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