THE MARKET ENVIRONMENT - INVESTMENT CONSTRAINTS

               Professor PhD Ioan E. Nistor, inistor@econ.ubbcluj.ro
          PhD student Viorela-Ligia Văidean, vvaidean@econ.ubbcluj.ro
                      “Babeş-Bolyai” University Cluj-Napoca
      Faculty of Economics and Business Administration, Finance Department


          Abstract: A wide variety of investment choices are analyzed by investors on
turn, in the broad context of legal, regulatory and tax environments. According to their
preferences, investors make strategic choices, foreseeing to each category of potential
risk and reward. Worldwide tax policies may either promote or deter certain market
behaviors, influencing both the investors’ and the issuers’ decisions. The judicial
infrastructure of a given market is most likely something to be taken for granted.
Furthermore, self-imposed constraints and formal restrictions have a great impact upon
investors acting on the market, so different national regulations are analyzed on turn.

       Keywords: investment, choice, constraints, restrictions

       JEL codes: D92, G11, G18