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The current paper encompasses both a global and a national perspective,
taking into account the financial globalization process which impacts all
companies from all over the world. This perspective is based on the
effects that the globalization process has brought about. In this context,
it mainly refers to financial globalization, with its positive and
negative aspects. The positive side of globalization is that the financial
markets have emerged, the commercial barriers have faded and, in some
cases, have even disappeared, thus leaving room for the companies from
almost any country to operate on this open market. On the other hand, as
this standardization is being implemented, companies are facing some other
complicated problems. Some of these problems come from the spread of
panic, as is the case of some companies that face financial problems and,
subsequently, panic easily spreads all over the world, affecting even
companies that are not necessarily facing difficulties. This phenomenon
creates a mass movement which can lead to a financial crisis, such as the
one we are facing today. Any movement on the financial or on the political
scene can easily shake the whole world. In this situation, the role of
financial management is very important. In the future economic
environment, the idea of greater risks associated with greater losses will
disappear, as a more efficient financial management will eventually
succeed in reducing such risks