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

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... 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.