| Summary: | This paper, by means of the model of correlation coefficient between the two variables, this paper tests the intensity of the correlation between the three traditional financial indicators: the return on assets (ROA), the return on equity (ROE), the financial leverage (LF) and the indicators reflecting the change of the exchange rate (the total shareholder return-TSR and the price-to-earnings ratio -PER). The empirical research is addressed both transversely (on a sample of companies listed on the Bucharest Stock Exchange (BSE) wich have as their object of activity manufacturing pharmaceuticals and longitudinally (for the 2011-2012 period) based on the positive research method. The results show that between the stock exchange indicator (TSR, PER) and the aforementioned traditional financial indicators (ROA, ROE, LF) there is a weak connection, which means that the traditional financial indicators calculated for the Romanian companies cannot anticipate the investors’ expectations on the future benefits.
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