摘要：This paper intends to establish the determinants of financial performance in 125
companies listed on the Bucharest Stock Exchange, over the 2003-2012 period. The analysis
is based on descriptive analysis, linear and non-linear regression analysis. Return on assets,
as performance proxy, is regressed on endogenous and exogenous variables. Results indicate
that Romanian companies register higher returns when they operate with limited borrowings.
Tangibility has a negative impact on return on assets, as long as investments are made from
internal funds, affecting the level of earnings over short-term. The current financial crisis
affects corporate performance, while inflation rates induce a loop effect in returns along with
their fluctuation.
