The proposed research project aims at studying the phenomenon of financial contagion that occurs in companies in various forms: shortage of liquidity, record losses, increased liabilities, increasing debt to suppliers, risk exposures. The alarming culture of the financial contagion in an enterprise is very important to avoid turbulence that may occur in the goods and services market. In this context, the project aims in a first stage to establish the scientific concept of financial contagion, its transmission routes, measurement indicators and impact assessment on the company. The second step is for improvement of skills of the researchers in the project and increasing the visibility of the researchers in the Euro-region through participation in specialized courses offered (Financial Contagion, Risk Management and Stochastic dynamic economics), the exchange of experience, workshops on financial contagion and participation in international conferences. The last step is the implementation of the applied research results at the business environment level and developing a professional manual with the name: The risk of financial contagion for companies.The direct beneficiaries of the research project proposed for funding are the researchers from the partners: 10 researchers from LP and PP2, which acquire skills through the training courses, 3 researchers from PP1 that benefit from the knowledge transfer. Also 20 companies from different areas of the regional economy will benefit from the implementation of the applied research. The main activities of the project are: organisation of workshops and participation at international scientific conferences and research activities.Among the project results: courses organized for training the teaching staff, 2 workshops, 200 specialized published manuals for the business environment,