bluuebunny/crossref_metadata_2025 huggingface dataset:
FEATURES OF SMALL BUSINESS DEVELOPMENT IN THE CIS COUNTRIES: DOES INSTITUTIONAL ENVIRONMENT AFFECT
Authors: Ostapenko Nataliia Viktorovna
Published: January 2018

The article analyzes the development of small businesses at the national level through a comparative analysis between the former Soviet countries – Ukraine, Russia, Belarus, Kazakhstan, Uzbekistan, and Kyrgyzstan. These countries are comparable by the previous path dependence (the period of the USSR, communism), by the position of the geographical location, as well as by similarity of cultural development. As can be seen from the analysis, which was conducted in article, the quantitative characteristics of small business development in the above countries are similar, based on the dependence on foreign markets and conditions in national economies. However, qualitative indicators of small business development in these countries are different. These differences can be attributed to the activities of the institutional environment (formal and informal institutions) and its impact on the national economy. Conclusions about the effectiveness of quality of development of small business sector through the analysis of its contribution to the national economy are done.
SOLVENCY II: THE IMPLICATIONS OF ITS APPLICATION ON THE ROMANIAN INSURANCE MARKET
Authors: Ciotina Ioan Marius
Published: January 2018

Solvency II is a European directive whose purpose is to update the regulations concerning the insurance market. This is more than a set of rules on the solvency of insurance companies and is a comprehensive set of rules on the entire insurance market from solvency, liquidity and information asymmetry between actors to an insurance transaction. The aim of this article is to present the implications of applying Solvency II in Romania and the changes that will occur on the insurance market. We also present the advantages of moving from the current regulation, namely Solvency I to Solvency II Directive, both by comparative analysis between both directly and through analysis of test results QIS5 applied in Romania. We will also show the current situation of the insurance market by emphasizing evolution and the solvency margin of solvency for the last six years from 2007, the year before the financial crisis and in 2012, the year for which there last available data.
BASEL III IMPACT ON BANKING SECTOR AND SMEs FINANCING
Authors: Magda Florin Mihai
Published: January 2018

Financial crisis devastating consequences and effects started in 2008, lead to several reactions coming from the most important international organizations and entities. This article aims to present in a logic manner, synthetic, and easily understand why these prudential reactions occurred and implemented on international level, under a new Basel III framework. Moreover, this article shall encompass also regulation environment for its implementation on the European level, known as CRD IV. This article is actual and important by identifying and underlines main measures applicable in present, their implementation schedule, as well as possible effects especially in SMEs financing. Although their effects are not yet entirely known, creates heated debates and discussions, as consequences may be major for banks and financial entities, as well as for each actor who is playing on economic environment where financing is need. I consider that all my personal conclusions and opinions on this article are important for readers, clarify and bringing into the light, simply and friendly the issues of banking environment and impact of financing under the new Basel III framework, and also presenting few measures in avoiding negative possible effects.
CONCEPTUAL DELIMITATIONS REGARDING THE SALES FORECASTING METHODS. CASE STUDY FOR THE SEASONAL COEFFICIENT METHOD
Authors: Dragomirescu Simona Elena , Solomon Daniela Cristina
Published: January 2018

One of the most important stages in the budget drafting process is the sales forecasting. As a matter of fact, the sales affect the whole activity of a company, their variation being considered the main risk factor for the performance and the financial position of the company. Sales forecasting starts with analyzing the turnover over a longer period of time. It includes all the studies and calculations made in order to determine the potential market to which the company can get access, as well as the part of it that the company is estimated to cover. There are several methods for planning the amount of sales, each company being able to choose one or more such methods. All the sales forecasting methods have advantages and disadvantages; however, in practice it was proved that most large companies use a combination of several methods. However, when there are seasonal variations each year, the seasonal coefficient method is used in order to forecast the sales. The exemplification of this method is done on the level of an production industrial company.
DECISION-MAKING STRATEGIES REGARDING LOGISTICS ORGANIZATION
Authors: Olariu Ioana
Published: January 2018

In the face of higher costs of operation and increasing pressures from customers for better service, the logistics organization must adapt to meet the challenge. An understanding of the factors that make organizations effective, and a knowledge of how these factors interrelate, are the first steps towards developing the system for a firm’s customers. Logistics organizations must of necessity become more cost and service efficient. An understanding of the factors that affect a firm’s organizational effectiveness, along with strategies to reveal weaknesses or deficiencies, can help create more efficient logistics systems. Organizational changes form the basis for procedural modifications that can reduce costs or improve service. Many firms have shown significant improvements in their logistics cost-service mix as a result of organizational changes. Logistics organizations are generally structured along the following lines: strategic versus operational, centralized versus decentralized and line versus staff, in various combinations. There is no single ideal organizational structure, but there are important elements that comprise an effective organization. In general, the factors contributing to organizational effectiveness can be categorized as organizational characteristics, environmental characteristics, employee characteristics, and managerial policies and practices.
ANALYSIS OF THE MARRIAGES AND DIVORCES SEASONALITY IN ROMANIA COMPARED TO BACAU COUNTY DURING 2010-2013
Authors: Harja Eugenia
Published: January 2018

It is known that the number of marriages concluded in general in a geographic area follows a cyclical trend due primarily to religious factors. In this study we wanted to test whether this assumption is maintained in the past four years. On the other hand, we wanted to look at the indices of seasonality in Romania compared to those calculated for Bacau County to see if there are significant differences. The same aspects were analyzed for the divorce evolutions, to identify whether there is a seasonal trend in this case as well. After applying the methods of arithmetic mean and the mobile averages, there were calculated the seasonality indices and concluded that marriages are clearly cyclical developments every 12 months, with a peak in the third quarter, respectively in August, when the number is 3,5 times higher than the monthly average yearly in Bacau County and 2,3 times for Romania. In the case of divorces, the evolution is oscillatory, but without identifying a seasonal component. The average monthly number of divorces per 100 marriages is 29 in Romania and 36 in Bacau, with a maximum of 202 in the county of Bacau, observed in March 2010.
PARTICULARITIES REGARDING THE REFLECTION OF FOREIGN CURRENCY TRANSACTIONS IN FINANCIAL STATEMENTS
Authors: Breahna Pravat Ionela Cristina
Published: January 2018

The structure and the constituent parts of financial statements are regulated at a national level, mainly by Accounting regulations compliant with European Directives ̶ O.M.P.F. no. 3055/2009, but also by Accounting regulations compliant with International Financial Reporting Standards applied by the trading companies whose securities are rated on a regulated capital market ̶ O.M.P.F. no. 1286/2012. From this latter point of view, an important role is played by IAS 1 “Presentation of Financial Statements”, respectively IAS 21 “The Effects of Changes in Foreign Exchange Rates”. Therefore, this study aims to describe a series of theoretical and practical aspects regarding the particularities of presenting elements generated by foreign currency transactions in financial statements, which are prepared in compliance with the Romanian accounting regulations ̶ balance sheet, profit and loss account, cash flow statement, statement of changes in equity, explanatory notes. The paper also approaches the effect of changes in foreign exchange rates, respectively the accounting recognition of exchange differences, which are specific to different foreign currency operations, according to national regulations (and implicitly, to European Directives), but also according to international regulations (IFRS).
THE IMPACT OF RISK OF POVERTY ON SEGMENTS OF THE MARKET IN ROMANIA
Authors: Danu Cornelia Marcela
Published: January 2018

In the present work I presented the risk of poverty in Romania considering the economic and social determination. I highlighted that poverty in Romania, is a mix of economic, educational, cultural etc. factors and reinforced by the lack of family or social support. Among the most significant correlative causes of poverty are: lack of money-unemployment, low salaries, lack of money, lack of food-hunger, deprivation, misery, lack of culture, lack of housing, disease, decay, addictions, political causes, individual causes, etc. I analyzed the dynamics of the decision-making behavior of the population of Romania both as a whole and as segments of the market, in terms of age, sex, residence environment, etc. in the market acts, regarding the purchase and consumption decision. The approach and treatment of the poverty must be understand regarding to the systemic economic-social-psychologically interaction. The impact of risk of poverty on the segments of the market is reflected in the production of goods and services; increasing of this type of risk lead to diminishing and modifying the request and further lead to diminishing supply, business failure, etc.
THE INFLUENCE OF FORMAL COMMUNICATION IN THE PROCESS OF ACCESSING EUROPEAN FUNDS
Authors: Zait Luminita
Published: January 2018

Present article aims, based on direct research, to identify of main sources of information in the process of accessing European funds. Performed within Trotus Valley, Bacau, the proposed research provides pertinent information from the perspective of the main sources of influence on the manifestation of interest in accessing funding and in terms of highlighting the influence of various socio-demographic variables on such information sources. According to the Romanian experience of accessing European funds, apparently formal communication efforts prove ineffective, being less reliable and stimulating compared to the informal interpersonal communication. Because most of the potential beneficiaries of EU funds precept this process as one dominated by sinuous and powerful bureaucracy, we tend to believe that in the expressions of interest in accessing EU funds, formal communication only meet the cognitive structure of attitude, affective and conative entering under the influence of informal communication.
GAME THEORY: MINIMISING THE COST OF CAPITAL VS. MAXIMISING THE RETURN OF INVESTORS
Authors: Tudose Mihaela Brindusa
Published: January 2018

The application of game theory to financial transactions focuses on two categories of stakeholders: users of financing (firms) and providers of financing (investors). The core of game theory consists in the strategy that a partner is able to build starting from the possible decisions of the other partner (each party having opposing interests). In fact, we deal here with a cooperative game in which both opponents seek to maximise their own chances of winning. The article aims to highlight the manner in which mathematical game theory is transposed in the field of corporate finance by balancing the firm’s objectives (maximising market value by minimising the cost of raising capital) and the investors’ objectives (maximising returns on investments). The intended novelty of this paper lies in developing a model for optimising a firm’s financial structure and assessing it in terms of investors’ interests.
REGULATION AND ENFORCEMENT OF COMPETITION POLICY
Authors: Niminet Liviana Andreea
Published: January 2018

Competition policy starts by shaping a legislative framework. This is aimed to establish boundaries for conducting competition and also sets limits of licit and illicit demarcation, for competitive and anticompetitive practices. The Romanian Competition Law has a divalent approach and it aims to provide specific behavioral conditions in order to stimulate and protect free-market competition, with the ultimate goal of developing a balanced, efficient and competitive economy. Our country’s Competition policy is based on punishing the behavior. There are three such types of anti-competitive behavior, namely: agreements between undertakings, abuse of dominant position and mergers and other concentrations between undertakings. Recent Practice proved that this “enforcement-conduct-punishment” structure is not necessary the best way to address competition and it is high time for authorities to switch both regulation and enforcement of competition from the “classical perspective” towards concepts like “competition advocacy” and “soft power” and give competition policy a new, reshaped face.
GENDER DEMOGRAPHIC DISPARITIES IN BACAU COUNTY
Authors: Stangaciu Oana Ancuta , Harja Eugenia
Published: January 2018

Gender demographic disparities existing in Bacau County were determined by means of some demographic indicators such as: population, natural growth, live births, marriages, divorces, indicators which have been broken down by gender. The assessment of the disparities between men and women from the point of view of the demographic phenomena emphasize the fact that on the level of Bacau County there is a surplus of female population, as during the whole period subjected to the analysis, the positive and respectively the negative natural growth for the male population were lower and higher respectively than the one registered in the case of the female population. The birth rate, marriage rate and divorce rate phenomena also changed significantly after 1990 ; thus, the average age of marriage increased, and the gender difference also had a certain growth, which caused a shift in the fertility intensity from the age group 20-24 to the very next one - the 25-29 age group.
IBRD AND ITS INVOLVEMENT IN MODERNISING AND IMPROVING THE FUNCTIONALITY OF PENSION SYSTEMS
Authors: Rosu Cristina
Published: January 2018

In our research we review the International Bank for Reconstruction and Development’s (IBRD) most important contributions to the functionality of the pension systems around the world. The pension systems design constitutes an important premise for the adequate functioning of these systems. In international practice, there is a wide variety of principles and mechanisms which can constitute the foundation of pension systems, the most common being materialized in the multi-pillar pension system, promoted by the IBRD. Its involvement in modernizing and improving the functionality of pension systems has reached also many other aspects such as evaluation of the national pension systems’ performance, financial assistance to governments with the aim of meeting the objectives corresponding to pension systems, scientific, technical and informational support. We conclude that IBRD’s involvement in modernizing and improving the functionality of pension systems has determined a significant transformation of the national pension systems, especially in Latin America and Eastern and Central Europe. However, its well-known multi-pillar model is not free of criticism as a result of the various analytical errors.
A SIMPLE MODEL USED IN SOFTWARE QUALITY EVALUATION FOR THE ECONOMIC APPLICATIONS
Authors: Siclovan Anamaria
Published: January 2018

It was noted that, over the time, in the field of economic informatics and economy, most people have become dependent on software applications. Do economic applications reach a high threshold of quality such as to satisfy the customers who are dependent on them? This study proposes to present a model that analyzes the quality of economic applications. By applying this model, we could tell if an economic application which is submitted to the analysis reach a certain quality threshold or not. Thus, by analyzing the factors and sub-factors that characterize any economic application, we can analyze the software quality.
GLOBAL ADVERTISING MARKET – THE DYNAMICS OF THE LAST DECADE
Authors: Nichifor Bogdan
Published: January 2018

Advertising as a form of impersonal communication aimed at a wide and diffuse audience, is the ideal tool to promote products targeting large markets in which consumers are not strong differentiated in terms motivations, preferences, attitudes, etc. Currently, in the global advertising market we can find extremely powerful organizations whose work often exceeds local and even regional economic sphere. From simple expertise in advertising, these organizations have expanded their services to a growing number of communication tools, organizing their activity to better respond to client’s requirements. These kind of advertising organizations alongside global advertisers are the key factors in the dynamics of this market. This article focuses on presenting some data regarding global expenditure in advertising, establishing as reference points the years 2002 and 2012. Moreover, we concentrated on expenditures by regions and advertisers, and on revenues obtained by advertising organizations and advertising networks, starting from official data provided by Advertising Age and Euromonitor.
RISK-ASSESSMENT PROCEDURES AND ESTABLISHING THE SIZE OF SAMPLES FOR AUDITING FINANCIAL STATEMENTS
Authors: Botez Daniel
Published: January 2018

In auditing financial statements, the procedures for the assessment of the risks and the calculation of the materiality differ from an auditor to another, by audit cabinet policy or advice professional bodies. All, however, have the reference International Audit Standards ISA 315 “Identifying and assessing the risks of material misstatement through understanding the entity and its environment” and ISA 320 “Materiality in planning and performing an audit”. On the basis of specific practices auditors in Romania, the article shows some laborious and examples of these aspects. Such considerations are presented evaluation of the general inherent risk, a specific inherent risk, the risk of control and the calculation of the materiality.
THE ECONOMIC RISK IN TRADING COMPANIES’ VALUATION
Authors: Muntean Mircea , Bucur Iulia Andreea , Muntean Andrei
Published: January 2018

The negative influence of internal and external factors on the enterprise’s operating activity may lead to the realization of losses and economic-financial imbalance of the enterprise. Such situation leads to the economic risk, which can be avoided by diagnosis analysis. The manifestation of the economic risk has repercussions in: obtaining profit from operating activities, the maximization of the enterprise’s value and the increase of the market share. The operational risk can be detected by the method of forecast analysis “cost-volume-profit” or via coefficient of lever exploitation. This paper aims, on the basis of the information of a commerce company, to reveal the influence of risk in assessing the enterprise, as well as the possibilities to maximize its value and the increase in economic and financial performance in a competitive environment. The results of the research demonstrate the impact of the circulating expenditure structure on the enterprise’s financial results, as well as on equity.
THE FIXED MEANS: AN ACCOUNTING CONCEPT OR A FISCAL ONE?
Authors: Rotila Aristita
Published: January 2018

Starting from the analysis of the accounting regulations applied to the economic operators, in their evolution after 1989, the specific accounting regulations for certain fields of activity and for certain categories of entities and starting from the fiscal rules and some paper works, we want to clarify in this study some conceptual issues referring to the fixed means, the tangible fixed assets components, of impacting financial information, respectively, on taxation. Is the concept of “fixed means” an accounting one or a fiscal one? We try to answer to this question and also to formulate an opinion on whether it is longer justified to use this concept in the accounting vocabulary and hence in the production of information presented in financial statements or in the fiscal vocabulary and implicitly in the work done to produce information provided in the fiscal reports.
TOWARDS A DEFINITION OF CONTROLLING
Authors: Mocanu Mihaela
Published: January 2018

Controlling is a concept that is still subject of many controversies. Nowadays, it is used both in theory and in practice to designate a variety of activities. The paper aims at shedding light on this enigmatic concept. First of all, the author offers an overview of the historical roots of “controlling”. Secondly, different definitions of the concept of “controlling” are contrasted. The author comments upon two types of definitions: concepts oriented towards the goal to obtain results (profit, turnover, low costs) and concepts oriented towards the universal goals of the company (e.g. product-related, environmental, social goals). Last but not least, the paper identifies the different perspectives used when defining the concept, in order to provide the proper background for understanding “controlling”: the information-oriented perspective, the coordination-oriented perspective and the reflection-oriented perspective, and the rationality-oriented perspective.
ELEMENTS OF THE NEOCLASSICAL GROWTH THEORY
Authors: Popa Florina
Published: January 2018

One of the relevant components of the contemporary economic science is the economic growth theory, the economic background of the time leading to new guidelines of the research. The neoclassical growth theory - the core of modern analysis - explains how the capital accumulation and technological changes affect the economy, significant for the analysis of the economic growth process being the Solow’s neoclassical growth model. The paper brief describes the elements of the economic growth model developed by Solow, both for the situation when it allows the explanation of extensive growth and that wherein the growth is of intensive nature, as a result of the intervention of exogenous technical progress – a determinant of factors productivity growth. It is highlighted the importance of the exogenous neoclassical model, proposed by Solow, who showed the determinant role of the technical progress in the economic growth phenomenon.
UKRAINIAN FUEL AND ENERGY SECTOR: DISTINCTIVE FEATURES
Authors: Azarenkova Olesia
Published: January 2018

The paper is devoted to the analysis of Ukrainian fuel and energy sector (FES). The number of risks that threaten the stable supply of energy sources is growing. A high proportion of the energy intensity of developing economies in conjunction with their growing GDP leads to increased competition on world primary energy markets and causes significant fluctuations in energy prices, which negatively affect the global economy. There is also an important issue for world energy - limited use of non-renewable energy resources. Considering the prospects of development of Ukrainian FES, it is important to pay attention to patterns and trends of the global and national power. We have studied the basic trends of Ukrainian FES. It is the most important sector of the economy, and therefore its reform for market economy creation, price liberalization is a very important process. The current task of the energy sector of Ukraine is to be able to consistently produce and use energy to promote economic growth and improve quality of life.
ADVERTISING BRANDS BY MEANS OF SOUNDS SYMBOLISM: THE INFLUENCE OF VOWELS ON PERCEIVED BRAND CHARACTERISTICS
Authors: Duduciuc Alina Catalina
Published: January 2018

The aim of this study is to test the influence of sound symbolism on perceived characteristics of a brand as well as to highlight the importance of applied social psychology to current practice of advertising. Previous research showed that the phonetic structure of brand name communicates its characteristics, i.e. it drives consumers to assess certain features and performance of the product. I assumed that when consumers encounter an unknown brand name, they automatically infer characteristics from the meaning conveyed by the sounds (e.g. phonemes). Therefore, I supposed that a brand name for a shampoo (artificially created on experimental purpose) containing back vowel is evaluated better by consumers when they compare it to another brand name with front vowels. Furthermore, for the accuracy of responses, I used the semantic differential scale to measure the differences between two brands in terms of certain attributes of product. To this end, fifty students (N=50) participated in a research based on questionnaire. As the results of the current research showed, the brand name with back vowel outnumbered the brand name with front vowel on two dimension, i.e. on brand activity and brand efficiency. The brand name containing front vowel was rated better when subjects evaluated the product in generally. Last, but not least, when it comes to convey meanings, the sound of back vowels [a] could be used more when marketers promote products that communicate its characteristics such as efficiency, velocity and health. The back vowel could be also assessed to products with larger packing or special sailing such as extra quantity. Meanwhile, the brand names with front vowels [ie] could be created for more expensive products with good quality, mainly addressed to men.
ONLINE MEDIA COVERAGE OF ENVIRONMENTAL PROTEST IN ROMANIA. ROŞIA MONTANĂ CASE
Authors: Daba-Buzoianu Corina
Published: January 2018

Romania, the place where protests never take place, has been facing significant civil disobedience and street demonstrations in the last years. Of them, environmental protests present several particularities and do not convey social problems. The cyanide exploitation in Roşia Montană in Romania has been debated lately due to the fact that the place is part of the Romanian historical heritage and due to the negative environment impact. The project has been delayed several times being subject to political and public environment policies. Moreover, the cyanide exploitation generated protests and street demonstrations against the project. The present study reveals the media coverage of the protest and analyses the way Romanian media referred to the environmental protest related to Roşia Montană through messages. We investigate the media message and implicitly the representation comprised in it. Our analysis includes several predetermined indicators in order to evaluate the media impact regarding the case: environment, economics, and legislative framework, presence of protests, involvement of non-governmental organizations, civil society/community and politicians.
A HUMANISING ECONOMIC APPROACH ON COMPETITION POLICY OR HOW THE BEHAVIORAL ECONOMICS BLENDS WITH “TRADITIONAL ECONOMICS”
Authors: Niminet Liviana Andreea
Published: January 2018

Behavioral are crucial for understanding both the consumer’s attitude and firms’ attitude as well as for understanding the market outcomes. The past ten years brought a lot of attention from researchers and policy-makers on the behavioral economics issue. Classical, traditional economic models rely on the assumptions of rationality and ordered preferences. Behavioral economics explores interactions between demand and supply including information framing, the use of heuristics in decision-making and time-inconsistent preferences. The research on behavioral economics has led to an extensive debate about the relative merits of both traditional and behavioral economics. First of all we propose to highlight the advantages and disadvantages of behavioral economics versus traditional economics on a very sensitive issue: the competition policy. Then we address market issues that can be solved by means of behavioral economics afterwards turning out attention to the remedies of behavioral economics and ,last but not least, the United Kingdom successful model on the matter of competition policy.
THE IMPACT OF TAX SYSTEM ON GLOBAL COMPETITIVENESS. ANALYSIS ON THE LEVEL OF EUROPEAN UNION MEMBER STATES
Authors: Tudose Brandusa , Strapuc Constantin
Published: January 2018

Summarizing the results of theoretical and empirical research, the paper aims to analyze the impact of tax system on global competitiveness through the following three variables: taxation on incentives to invest; total tax rate and taxation on incentives to work. Summarizing the analysis to the European Union member states, the paper presents rankings and provides interpretations for each case. Luxembourg is the country where there is registered: a) the biggest impact on competitiveness of tax policies supporting investment, b) the largest fiscal affordability (measured by GDP/capita and total tax rate) and c) the most generous labor taxation system in the EU. However, in the ranking realized based on the global competitiveness index Luxembourg ranks on the 22nd place, on the first place being Finland.
E-COMMERCE NATIONAL MARKET - STUDY FROM THE PERSPECTIVE OF MANIFESTED DEMAND
Authors: Timiras Laura Catalina
Published: January 2018

E-commerce market in Romania recorded the lowest level of development compared to other EU countries, in terms of the intensity of online purchase habit of the population of Romania. Thus, in 2014, only 16.7% of those who used the computer in the range of 16-74 years and 10% of the total population of the same age had made online purchases, compared with 63.3% and 50% respectively - the same indicators at EU level. Still, in Romania there was a rapid increase in the share of those who make online purchases, so in 8 years (2007-2014) this indicator increased by 3 times. Regarding the categories of the population by various characteristics, greater orientation towards online purchases is recorded among individuals with high formal education, youth (under 35), with above-average incomes. In terms of product categories purchased online, the most favorite categories are: clothes, sports goods. This analysis is based mostly on official statistics provided by Eurostat.
LANDMARKS ON THE EVOLUTION OF E-COMMERCE IN THE EUROPEAN UNION
Authors: Timiras Laura Catalina , Nichifor Bogdan
Published: January 2018

In this paper are presented and analyzed a number of statistical indicators to highlight the size and the trends in the European e-commerce market in recent years, namely - the turnover of e-commerce, the share of turnover from e-commerce in total turnover of the organizations, the share of enterprises conducting online sales in total enterprises, the population share which shop online in total population. Information is presented both aggregated and individualized, allowing highlighting disparities between European states. The paper also captures a number of correlations between the orientation to online purchasing and level of development of European countries, on the one hand and access to technology on the other. The survey is based on official statistics provided by Eurostat (data from European Union countries) and information provided by EMOTA - European Multi-channel and Online Trade Association - (data pooled across all European countries).
CASH vs. SYNTHETIC CDOs
Authors: Dinca Silviu Eduard
Published: January 2018

During the past few years, in the recent post-crisis aftermath, global asset managers are constantly searching new ways to optimize their investment portfolios while financial and banking institutions around the world are exploring new alternatives to better secure their financing and refinancing demands altogether with the enhancement of their risk management capabilities. We will exhibit herewith a comparison between the true-sale and synthetic CDO securitizations as financial markets-based funding, investment and risks mitigation techniques, highlighting certain key structuring and implementation specifics on each of them.
ONLINE HEALTH INFORMATION SEEKING DURING ADOLESCENCE: A QUANTITATIVE STUDY REGARDING ROMANIAN TEENAGERS
Authors: Duduciuc Alina Catalina
Published: January 2018

How Internet is used by individuals from different age groups to keep their health in check has become one of the major issue of both academic researchers and policy makers. The topic derives mainly from 2000-2014 data which converge towards an Internet accessing pattern as source of information regarding health. Previous studies showed that teenagers are the main consumers of the Internet and they often start surfing for online health concerns on social media (Facebook, Twitter) and popular engines (Google, Yahoo). The current paper describes how Romanian teenagers (N=161, aged 14-19) browse for online topics to keep their health in check. Based on a questionnaire, the data revealed that the Internet is used to a certain extent by more than a third of the respondents for health topics and over half of them consider that the health related information helped them to achieve a good trim. Overall, the research outcomes showed that the adolescents seem less interested in using Internet for health information and sometimes challenge the credibility of online health content.
OVERWIEW ABOUT THE VISION, MISSION, GOALS AND VALUES OF NONGOVERNMENTAL ORGANIZATIONS
Authors: Ciucescu Nicoleta
Published: January 2018

The herein article aims to address several specific aspects regarding the definition of nongovernmental organizations, their vision and mission. Also the setting of goals and the presentation of the values of these types of organizations will be presented using a comparative study of literature as a research method. The fields in which nongovernmental organizations operate are very diverse, as are the needs of the community, respectively: education, science, research, culture, social protection, minorities, human rights, environmental protection, child protection, etc. The mission of the organization lies in the ample mentioning of the fundamental goals and of the view regarding the evolution and progress of the organization’s activities, from which the activity field, the market served, as well as the differentiation from other similar organizations, result. Nongovernmental organizations are characterized by a great mobility in the manner of action. Their operation is dependent on the correct identification of the needs of the community and on their ability to attract the funds required to cover them. A nongovernmental organization can play an essential role within the society by identifying certain courses of action, omitted by the public authorities. They can approach the identified niches by using their own organizational skills and human resources or they can offer assistance to the authorities.
A THEORETICAL APPROACH OF THE SUPPLY PROCESS
Authors: Ciucescu Nicoleta
Published: January 2018

In a permanently changing economy, organizations need to achieve more goals with fewer resources in order to remain competitive. A key component in this effort is the design and coordination of distribution and supply networks. Each product has a particular distribution channel to the end customer, which is often long and complex. The supply process has an important contribution to achieving results of economic, industrial and productive organizations and has direct responsibilities related to reducing costs. This article aims to present some of general questions relating to the supply process, such as the definition, classification, stages and phase of the supply process using a comparative study of literature as a research method. The article also presents a variety of information that underlying the preparation of approved vendors list.
REGIONAL COMPETITIVENESS, CONCEPTUAL ELEMENTS
Authors: Popa Florina
Published: January 2018

In a general sense, competitiveness is conveyed as the ability of a nation to lay the foundations and ensure an economic, social and political environment capable of sustaining the creation of added value, enabling the positioning of a country within global economy, from the perspective of comparing the performances obtained and the growth potential over time. The paper highlights the importance of increasing competitiveness of regional economy and the perspectives for their development. There are exhibited numerous aspects of the competitiveness concept expressed by definitions, formulated by experts that outline features of the phenomenon, as well as the interaction between knowledge and competitiveness. Finally, there are also shown some methods for measuring regional competitiveness.
SOME EVOLUTIONS OF THE ROMANIAN IT MARKET
Authors: Timiras Laura Catalina
Published: January 2018

IT market in Romania registered a positive trend, estimations regarding the evolution for the next period indicating the same trend. This development was implicit in conjunction with the growing interest of population and organizations for getting the economic and social benefits offered by information technology, the expansion of the market and the increasing in the use IT by organizations and population empowering reciprocally. In this context, the contribution of the industry of "Information and communications" has increased in overall macroeconomic indicators and in the total employed population at the national level.
STOCK MARKET PERFORMANCE AND THE AUGMENTATION OF FRONTIER ECONOMIES: A Comparative Scrutiny of Nigeria & Mauritius
Authors: Okoro Edesiri Godsday
Published: January 2018

This paper provides a comparative analysis on stock market performance and augmentation of frontier economies: Nigeria and Mauritius. Using a Paired-Samples T-test statistical modus-operandi, data of Market Capitalization and Gross Domestic Product were obtained from the Central Bank of Nigeria Statistical Bulletin and Annual Financial Services Commission Statistical Bulletin of Mauritius during 2006-2010. The findings revealed that stock market performance for Mauritius was superior to Nigeria and same for GDP. In addition, the negativity shows that stock market performance has a negative impact on economic progress in Nigeria and Mauritius. This may be due to the fact that frontier markets give attention to money market while relegating stock market to the background. On this note, since stock market contributes significantly to economic growth, efforts by both governments should be that of developing policies aimed at further strengthening stock market. These policies should not be ‘written-policies’ but policies that can be put into practice. Also, market capitalization can be stimulated by encouraging investments in stock market. This can be done by ensuring investors are fail-safe of their investments. When investors perceive a safety of their investment, they may want to commit their resources and in turn make the economy to flourish.
EFFECTIVENESS OF CAPITAL MARKET DERIVATIVES IN HOUSING DELIVERY OF NIGERIA EMERGING MARKET
Authors: Adjekophori Bernard , Adebiyi Sulaimon Olanrewaju
Published: January 2018

The capital market is unarguably the most robust institution in any economy notable for mobilizing the necessary fund for financing long-term productive project. It controls relatively large amounts of capital and represent the largest institutional providing long-term credits for capital project like real estate that requires huge capital outlay. This study therefore, attempts an investigation into the effectiveness of capital market derivatives in housing delivery in Lagos. An empirical survey research was conducted in Lagos, using a random sampling technique with a structured questionnaire to collect data from 147 respondents comprising 89 stockbrokers and 58 real estate developers in Lagos mega-city. Data collected were analyzed with SPSS using descriptive and inferential statistics. The result revealed that 56.7% of the observed variations in housing delivery (R2= 0.567; p< 0.05) is explained by capital market derivatives, which suggests that, proper utilization of capital market derivatives will enhance and improve housing delivery in Nigeria. However, this is not been adequately used by developers of real estate projects in the study. Thus, the study recommends amongst other remedial steps that a synergetic effort should be created between the capital market and real estate developers which will enhance effective housing delivery, the development of people and the Nation.
ROMANIAN BRAND NOTORIETY AMONG YOUNG PEOPLE
Authors: Timiras Laura Catalina
Published: January 2018

Based on the results of a direct research conducted in April 2016 among students of the Faculty of Economic Sciences of the Vasile Alecsandri University of Bacau, this paper highlights the notoriety of Romanian brands in general, as well as for product categories: food products and alcoholic beverages, cosmetics and personal hygiene products, cleaning products, clothing, footwear, consumer electronics and cars. The research was conducted on a sample of 100 respondents aged between 18-30, having an exploratory character. We studied unaided brand awareness, respondents being asked to indicate the top three brands that come to their mind for each evaluated product. The results of the study revealed the most recognized Romanian brands on the investigated sample, both in terms of known brand enunciation among the top three, and as first nominations made (Top-of-mind awareness).
THE EUROPEAN COMPANY (SOCIETAS EUROPAEA) ON RIND SIGHT
Authors: Niminet Liviana Andreea
Published: January 2018

The article deals with the rind aspects of European Company (also known by its Latin name Societas Europaea or SE), a “type of public limited-liability company regulated under European Union law”. Although this form of company was proposed more than 40 years ago, it was only in 2001 when the Council issued Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European company defining the European company (SE) as “a legal structure that permits a company to operate in different European Union (EU) countries under a single statute”, as determined by the law of the Union and common to all EU countries. Being a new legal form, the SE coexists with the corporate forms that already were in each Member Statebeing governed by both European Regulation and national law. As it follows we address the rules, classification, conditions for settling an SE, organization structures, tax harmonization, employee involvement in the SE, advantages and disadvantages of SEs, as well as the opportunity of SPEs.
SPECIFIC MECHANISMS AND METHODS FOR ESTIMATING TAX FRAUD
Authors: Tudose Brindusa , Strapuc Constantin
Published: January 2018

In the last decades, tax fraud has grown, being catalogued as a serious impediment in the way of economic development. The paper aims to make contributions on two levels: a) Theoretical level - by synthesis methodologies for estimating tax fraud and b) Empirical level - by analyzing fraud mechanisms and dynamics of this phenomenon, properly established methodologies. To achieve the objective, we have appealed to the qualitative and quantitative analysis. Whatever the context that generates tax fraud mechanisms, the ultimate goal of fraudsters is the same: total or partial avoidance of taxation, respectively obtaining public funds unduly. The increasing complexity of business (regarded as a tax base) and failure to adapt prompt of legal regulations to new contexts have allowed diversification and “improving” the mechanisms of fraud, creating additional risks for accuracy estimates of tax fraud.
EUROPEAN REQUIREMENTS REGARDING THE AUDIT REPORTING
Authors: Botez Daniel
Published: January 2018

In recent years, reporting requirements on the statutory audit have been revised and amended to increase the audit report’s communication value. In addition to the stipulations of the International Auditing Standards Package on reporting, revised and enforceable on 15 December 2016, the European Union issued the Directive 2014/56 / EU amending Directive 2006/43 / EC on statutory audits of annual financial statements and consolidated financial statements and EU Regulation no. 537/2014 on specific requirements for the statutory audit of public interest entities, both of which were published on the same date, June 17, 2014 and with the same application deadline, June 17, 2016. These normative acts foresee increased requirements for the reporting procedure in the statutory audit. Thus, the Directive provides for additional content requirements for the audit report, and the regulation requires additional information in the report but also the issuance and provision of other reports by the auditor: report to the audit committee of the public interest entity; In some cases, a report to the public-interest entity's supervisory authority or to the auditor's supervisory authority, and a transparency report published annually on the auditor's website. Our article details this information with direct reference to the content of these European official documents.
THE ADVERTISING MARKET OF EUROPEAN UNION COUNTRIES – THE EVOLUTION IN RECENT YEARS
Authors: Timiras Laura Catalina
Published: January 2018

This paper seeks to highlight how the EU advertising market has evolved in recent years, as well as the link between the macroeconomic outcomes of the analyzed countries and the size of this market. According to the analyzed statistical data provided by Eurostat in recent years for which we have data, the advertising market (assessed by the Turnover or gross premiums written indicator) registered an upward trend in the EU, with the old EU members accounting about 90% of the total market, and the new member states just over 10%. The number of market operators also increased, with about 75% of them operating at the level of the old EU members. The size of the advertising markets at the level of the analyzed countries is closely linked to the recorded macroeconomic outcomes, with a direct and strong link between the gross premiums written and the Gross domestic product. The link has been studied both across EU countries and separately for the two categories of old states (EU - 15) and new EU members.
THE USE OF PUBLIC RELATIONS IN PROJECTING AN ORGANIZATION'S POSITIVE IMAGE
Authors: Olariu Ioana
Published: January 2018

This article is a theoretical approach on the importance of using public relations in helping an organization to project a positive image. The study of the impact information has on the image of organisations seems to be an interesting research topic. Practice has proved that the image of institutions has a patrimonial value and it is sometimes essential in raising their credibility. It can be said that an image is defined as the representation of certain attitudes, opinions or prejudices concerning a person, a group of persons or the public opinion concerning an institution. In other words, an image is the opinion of a person, of a group of persons or of the public opinion regarding that institution. All specialists agree that a negative image affects, sometimes to an incredible extent, the success of an institution. In the contemporary age, we cannot speak about public opinion without taking into consideration the mass media as a main agent in transmitting the information to the public, with unlimited possibilities of influencing or forming it. The plan for the PR department starts with its own declaration of principles, which describes its roles and contribution to the organisation.