bluuebunny/crossref_metadata_2025 huggingface dataset:
Sustainability of financial professional services through marketing strategy- an empirical research
Authors: Dutescu Adriana , Popa Adriana Florina , Dobre Florin , Stanila Georgiana Oana
Published: August 2017

All types of companies providing financial professional services use, formally or informally, marketing principles and tools for the development of their business, in order to straighten their sustainability. By the end of 2009, in Romania, the financial professional services market has had a relatively constant and predictable development, the mandatory nature of these services being their most important promoter. This article presents the results of a survey aimed to highlight the impact of different marketing principles, techniques and tools on the sustainability of financial professional services in accounting and audit nowadays. The research is based on a questionnaire circulated to professionals with the relevant expertise in the financial-accounting domain. The number of responses obtained was considered meaningful, allowing the research results to be extrapolated to the entire studied population. The respondents, whose anonymity was respected, had multiple choice answers for most of the questions and also having the option of opened answers. The main findings of our research are a starting point in providing solutions to improve the sustainability of financial professional services through a coherent, innovative and effective marketing strategy.
Finding optimal route in the Romanian natural gas network
Authors: Rădulescu Răzvan , Nedelcu Cătălina
Published: August 2017

The Romanian natural gas market is still in its infancy regarding the manners in which the demand and supply match. We are frequently talking about market liquidity or about its dynamic behavior, without considering the monthly losses of the national natural gas system operator that derive from the very lack of matching the supply and demand. The present article proposes a method of overlaying the two in a manner that is feasible for the Romanian natural gas market of 2017, a method that will encapsulate the usage of OBAs (operational balancing agreements) in correlation with a model of allocating the demand and supply as a restricted all-pairs shortest path problem. Based on authors experience, five main variables will be examined: point-of-entry (location and time), volume, time and location of delivery, as well as other sets of data that are particular to this sector. This article will tackle the area of usability of OBAs between suppliers and the degrees of sustainability that such a model offers for clients, therefore the resilience of the system will be analyzed through an optimized transfer of information and accessibility to assets. Due to the complex nature of demand in energy markets and the different requirements set by clients, in which an energy resource can be requested by different sets of users, we will conceive a model that can be applied for natural gas, but also for electric energy production and industrial clients. The scope of this endeavor is to create a tool that will minimize the monthly losses of the national natural gas system operator, as well as its distributors, by allocating, in a fair and unbiased way, the responsibility of fulfilling the requested demand in a certain time unit.
International Oil Companies Sustainability after Oil Price decline
Authors: Tantau Adrian D. , Khorshidi Mohammadreza , Mojarad Ali Asghar Sadeghi
Published: August 2017

International Oil Companies (IOC’s) had been playing a major role in oil industry at the beginning of 20th century. They had many volatility during last century and faced with many obstacles which forced them to change their business models and improve their outcome to satisfy their shareholders. One of the most important challenges was oil nationalization in oil producer countries which were happened by establishment of NOCs. Later green energy issue which came from CO2 emission problem happened and recently, oil and gas price diminish challenges, involve all IOCs with the most important challenge in last century after all. Among all those events, one of the most important key values which have been observed by IPIECA, API and IOGP associations every year is Sustainability. The objectives of the research are study all issues and indicators of sustainability in IOCs. Each indicator has faced with different strategy via IOCs in different market situation. The importance of this key value cause that it is observed by some important association like IPIECA, API and IOGP each year. As the scarcity of related references for business model in oil and gas industry, literature review of some resources and annual sustainability report followed by a questionnaire as a survey are also selected methods for recent major challenges to achieve required result.
Energy use and carbon footprint for potable water and wastewater treatment
Authors: Presura Elena , Robescu Lacramioara Diana
Published: August 2017

Wastewater treatment plants (WWTPs) and drinking water treatment plants (DWTPs) are sources of emissions of greenhouse gases (GHGs), such as carbon dioxide (CO2), nitrous oxide (N2O) and methane (CH4). Carbon dioxide emissions have a big contribution to climate change. In general they come from burning fossil fuels to generate the electricity necessary for operating the treatment processes. The demand of energy depends on the treatment processes, but also on the quality of water source or wastewater influent. Water companies have to continuously supply safe drinking water to population and to treat and discharge wastewater according to regulations at a cost as low as possible. In Romania reporting of GHGs is not mandatory for water companies. Evaluation of GHG emissions from water industry have become a subject of great interest because of concern regarding climate change. Research and regulation have been conducted by different authors based on a regional basis. This paper proposes to estimate and compare the carbon emissions resulting from power consumption of Constanta South WWTP and PALAS Constanta DWTP. The energy supplier is different for these plants. In order to calculate the carbon emissions the amount of specific CO2 emissions is determined. The contribution of each primary source to produce the amount of electricity which is consumed is taken into account. WWTP has high power consumption in biological processes, because there are the aeration tanks, the sewage pumping station and the equipment for sludge. DWTP has high power consumption because of the pumping equipment used for raw water abstraction from deep wells and those for drinking water distribution to consumers. In order to identify, sort and display possible causes of the high power consumption of WWTP, Ishikawa chart is used. Through its configuration, the diagram allows highlighting and prioritizing the causes which generate this effect. Some management options are presented in order to reduce power consumption in WWTP.
Implementation of energy efficiency programs using cogeneration based on internal combustion engines
Authors: Minciuc Eduard , Pătraşcu Roxana , Darie George , Diaconescu Ioana
Published: August 2017

The paper presents an analysis of implementation of CHP plants based on internal combustion engines at different industrial companies. The authors have presented general aspects regarding utilization of internal combustion engines for cogeneration. There have been presented different possibilities of classification of internal combustion engines. Further on authors have presented different possibilities for increasing the efficiency of internal combustion engines, including: supercharging compression ratio increase, advanced heat recuperation for combined production of heat and power. There have also been presented different measures for increasing energy efficiency on site, including measures for CHP plant and internal combustion engines and measures for other auxiliary equipment and measures for technological equipment. In the second part of the paper authors have presented three case studies of utilization of internal combustion engines at a cogeneration plant for different industrial companies: cogeneration plant at a company from pharmaceutical sector, cogeneration plant at a beer production company and cogeneration plant at a company of electrical insulation materials. The results of the analysis led to following conclusions: implementation of cogeneration solutions based on internal combustion engines lead to significant financial savings, implementation of cogeneration solutions based on internal combustion engines can also lead to reducing environmental impact, it ensures higher global energy production efficiency and higher power efficiency compared to National Power System and to separate power and heat generation, it can lead to increased safety in energy supply of the company, it can also increase the reliability of power supply in cases of National Power Grid faults.
Measuring the social market economy. A composite index approach for EU countries
Authors: Davidescu Adriana Anamaria
Published: August 2017

The main objective of the paper was to construct a synthetic measure that can be used as benchmark for measuring the progress toward convergence to the social market economy as specification of the Lisbon Treaty. This kind of approach will enable us to identify the main determinants of the social market economy among EU member states using a principal component analysis technique (PCA) analyzing comparatively different group of countries. The analysis was conducted at the level of the 28 EU countries for the year 2013 using 15 indicators from four categories: efficient market allocation, efficient property rights, economic and ecological sustainability and social inclusion. The empirical results revealed that the key determinants in explaining the social market economy at European level are freedom of contract, open markets, financial stability and effective environmental protection and highlighted Sweden, Finland, Denmark, Estonia and Germany as the main poles of social market economy at European level while at the opposite side Romania, Hungary and Bulgaria registered the smallest level of social market economy. As main contribution brought by the paper there can be mentioned the attempt of measuring the level of social market economy at European level using an aggregate composite index for the level of 2013 highlighting the main poles of social economy.
The rate of high schools’ graduating students to universities
Authors: Corbu Luminiţa Claudia , Neamţu Daniela Mihaela , Hapenciuc Valentin Cristian
Published: August 2017

The purpose of the present research is to analyze and explore the opinions of Fălticeni town high school graduates, on the choice of universities that they want to continue their studies, then choosing faculty (profile, specialization) where they will be trained for their future profession. Then first thing taken into account was the ratio of students admitted in the first year of higher education studies in a given academic year, expressed as a ratio of the number of students enrolled in the final year of upper secondary education in the previous school year. For the indicator highlighted and previously enunciated, we conducted a statistical survey based on the data collected from three high schools in Fălticeni town, from Suceava County, schools with different specializations and different profiles of study. In recent years, countries have increased the diversity of education programs. This diversification has been driven by an increasing demand for upper secondary and evolving curriculum of general knowledge taught in general programs and practical skills reserved for professional studies to complete programs that include learning, but also to lead to more flexible ways of further education or employment.
A survey-based analysis of life-long learning patterns of young entrepreneurs
Authors: Rînciog Johana
Published: August 2017

Our approach, in this paper, is focused on life-long learning tools that are available for young Romanian entrepreneurs, in their early career stages. Life-long learning in the case of entrepreneurs is not a topic widely covered in scientific literature up to this moment. Most of the scientific papers related to entrepreneurship focus on the idea of innovation and creativity that characterizes entrepreneurship. On the other side, the scientific literature that considers life-long learning, discusses the case of employees or managers, who are required to improve their knowledge and skills in order to perform at the work place. For the current paper, it was aimed to survey the lifelong learning tools available to young Romanian people and to evaluate their efficiency with the help of interviews with young entrepreneurs on their educational path. Otherwise stated, we intended to provide more insights on the learning methods and practices of entrepreneurs, and to establish whether the current formal education represents a strong basis for entrepreneurs’ life-long learning. The research that we performed revealed that young Romanian entrepreneurs practice indeed a lifelong learning based not as much on formal education, as on learning by practicing and networking. Starting from the observations obtained, it was conceived, based on current European best practices and projective discussions with the same young entrepreneurs, a set of life-long learning initiatives that may be promoted in the entrepreneurial community, and we identify the actual steps to be taken by life-long learning education providers in order to implement these initiatives. This paper’s conclusions serve as both a state of the art analysis, in a field which is vital for entrepreneurs surviving in competitive environments, and as a prospective guide for improving the present market of life-long learning programs.
University-business cooperation: adapting the curriculum and educational package to labor market requirements
Authors: Epure Manuela
Published: August 2017

The paper explores the current state of the university-business cooperation at EU, and national level, and it seems that a more structured university-business cooperation might enable universities to adapt their curricula to meet labor market requirements better. A project was designed to address this issue and received funding on a national merit-based competition. During project implementation, exploratory surveys have conducted, findings-based solutions have adopted in practice with promising results. The paper presents the conceptual framework of the Adapt2jobs project, the main activities, and results and how these converged with the current trend in university-business cooperation. The study limits emerged from the scale of the project implementation, and from the response rate registered at the business cohort. Nevertheless, the paper has a clear, practical value which demonstrates that the university-business cooperation can be efficient in curriculum adaptation to the labor market requirements. The study has a real potential for duplication in a wider context, and a comparative analysis is needed to identify good practices in the field, nationally and internationally.
Successful strategies to be learnt from world-class universities
Authors: Bejinaru Ruxandra , Prelipcean Gabriela
Published: August 2017

Throughout the present paper we want to argue the idea that higher education is strongly linked with research, innovation, and competitive advantage and thus plays a crucial role not only for the individual and societal development but also in the process of delivering the National and European Strategy, to drive forward growth. Universities are the main actors responsible to provide the highly skilled human capital that Europe needs in order to create jobs, successful businesses, and prosperity. The ambitious aim to become a world-class university has its roots not just in rational (financial) considerations, but also in the symbolic role of such universities. The rankings made the competition between the states very visible and thus, are most commonly recognized as an indicator of success due to excellence-driven policies. Within this work we bring arguments and examples about which are the most efficient strategies of world-class universities. The first section of the paper we argue the roles of universities within nowadays economic and social world. The second section of the paper highlights the conceptual issue of world-class universities, the motivation and the determinants of such a goal. Within sections three of the paper we benchmark the key factors of two main international ranking (the THES and SJTU) and we analyse the successful strategies of famous world-class universities. According to the research conclusions and to our considerations we suggest that a valid option would be for universities to follow the international trend towards becoming a world-class university. Also an opportunity would be to develop themselves into learning organizations.
Gamification as an instrument for organizational behaviour change during the meeting: case study «ROBATIEMPOS»
Authors: Dulskaia Iana , Bellini Francesco , Zabal Roman , Garcia Pañella Oscar , D’Ascenzo Fabrizio
Published: August 2017

During the last years, gamification has been a burning issue and a subject of scientific discussions. Gamification is an innovative solution to foster motivation. It relates to the use of game elements in non-game contexts. By applying game mechanics to training and other business critical processes, organizations can improve employee engagement, boost productivity and lift operational performance. Over the last few decades, it has been noticed the significant enhancement of time spent attending meetings. Meetings are essential for the organizations, they improve the effectiveness of a company team working and are necessary for human relations. Nevertheless, in many cases meetings are considered as a waste of time. There are very few scientific papers that regarding the use of gamification for business meeting changes. The study seeks to explore the behavioural change of participants towards business meetings after introducing a business game, in order to come up with an interesting solution that might be useful for other researchers and practitioners in understanding the use of gamification in similar contexts. With regard to this aim, a single-case holistic design methodology is used and qualitative approach using semi-structured interviews with gamification experts and project managers is applied. This paper contributes both to the scientific literature and to managerial implication.
Impact assessment on the performance of e-learning in corporate training programs in the context of globalization
Authors: Gavril Roxana Maria , Kiehne Jan , Hell Christian Richard , Kirschner Carsten
Published: August 2017

The goal of this paper is to identify the main criteria based on which e-Learning is used in organizational development with positive impact on business performance. Globalization has led to a multitude of changing markets, including learning and education. While quality production systems are implemented based on imposed standards, the business knowledge of employees varies in each country, mirroring the education system provided locally. The results are individually different knowledge gaps which challenged the learning industry to develop new strategies embedded in e-learning solutions. Major contribution to theory and practice on combining vision and spoken learning is brought by the work of psychologists and professors of education (Allen, 2012; Mayer, 2009; Hattie, 2009). Their innovations offered solutions for easy access to knowledge and implementation methods, as well as the documentation of the inclusion of videos in e-learning modules (Halls, 2012), offering teachers and trainers the possibility to create a live experience to trainees engaged in e-learning programs. This paper is based on data collected internationally and our empirical research undertaken in Romania, which is Europe’s main cluster for various production industries and world’s second for IT. Based on a questionnaire, we interviewed 18 multinational companies which perform parts of their business activities in Romania. Research results show that with the implementation of an effective e-learning strategy a 40-60% cost reduction, a complete measurability of the learning process and a standardized input and outcome of trainings has been achieved. This paper aims to highlight the impact of e-learning applied for business trainings within global developing companies. This study may be applicable to state education and thus could help to reduce the gap between local education and global expectations.
Tourism industry in the new Europe: trends, policies and challenges
Authors: Ana Maria-Irina
Published: August 2017

This paper provides an examination of tourism in the New Member States of the European Union from the date of accession until the last year for which data is available (2014), assessing not only the importance of tourism for the New Member States economy, but also the factors and trends that might affect this industry. Predictions for tourism after joining the EU had been confident and the statistical findings confirmed that the outcomes had been to a great extent encouraging and favourable. Considerable research has been devoted to tourism in the developed countries from Europe, the so-called Old Member States, but rather less attention has been paid to tourism in the Central Eastern Europe, the New Member States region. In this regard, the paper will start with an overview of the current state of the literature on this topic, section that precedes a presentation of European bodies and policies in the travel and tourism field. According to The World Bank Database (World Tourism Organization, 2016), the number of international inbound tourists in the countries Newest Members of EU increased on average three times and in many cases this is partly a consequence of the Community’s accession policy and the market oriented policies in the new Member States (Enterprise and Industry Directorate-General of the European Commission, 2007). Time series will be analysed in order to identify specific trends in the tourism industry, but also in an attempt to characterize the European integration impact on the New Member States’ tourism. Main future challenges and opportunities in the travel and tourism industry will also be sketched, so the paper to better serve not only participants in the academic community and practitioners in the tourism business, but also financial market parties or consultants.
The role of international competences in increasing graduates’ access to the labor market
Authors: Butum Lavinia Cornelia
Published: August 2017

The transition from student to employee status has become an important issue for labor market analysts, students and universities. Literature recognizes that the international experience represents a successful factor for future employability. In this regard, a new curricular model should include international competences in order to build the qualifications required by the global labor market. A recent study (Stan, Butum & Zodieru, 2016) highlighted the importance of youngsters’ professional training upon graduation and the crucial role of collaboration between universities, companies and governments (through education policies) in increasing graduates’ accessibility to well - paid jobs and in developing an entrepreneurial career. The same study provides the results of a qualitative research that leads to the conclusion that most Romanian students have the capacity to obtain the desired job if they can swiftly gain the soft skills required by companies. It is also mentioned that the labor market has increased the demand for international competences and practical skills in recent years. The purpose of this article is to analyze the dynamics of Romanian and European students’ feedback on their universities. Beginning with the analysis of soft skills needed for the labor market and their appreciation as perceived by students, the study will examine the dynamics of students’ appreciation on international experience and other work activities that ensure the achievement of international competences and reduce the time for obtaining a job. Afterward, the paper will analyze students’ career priorities and students’ perception of university performance in providing practical and international skills needed for the labor market. The analysis will include 3-year statistic data from Trendence Graduate Barometer regarding Romanian students’ perception. The conclusions will show the dynamic of students’ expectations on provided skills and the connection with their career priorities. Furthermore, the main results of this study will represent a basis for future research in designing a guide for developing the internationalized curriculum, as well as for a future analysis of the international competences needed by students when searching for a well-paid job.
Crackdown on tax evasion – improving ways of coordination between the tax authorities and automatic exchange of information developments in Romania
Authors: Ioniță Claudiu , Ibadula Birol , Vlad Cristina , Brezeanu Petre
Published: August 2017

In an effort to reduce the tax transparency and banking secrecy, the Organisation for Economic Co-operation and Development (“OECD”) has been taking the lead on the battle against cross-border tax evasion, seconded by the Internal Revenue Services (“IRS”) of the United States of America (“USA”), the G20 and the European Commission. Understanding the power that is brought by information and knowledge, the international community proposed adapting the exchange of information tools that were available to them and extending them to a worldwide level. As a result, the Common Reporting Standard (“CRS”) and the Foreign Account Tax Compliance Act (“FATCA”) reporting standards were born. This paper aims at analyzing the improvements in automatic exchange of information brought by the CRS and FATCA standards, together with its limitations. An important section of this paper shall be dedicated to the role that Romania plays in the international efforts of fighting tax evasion, together with the tools and procedures developed in order to sustain the reporting standards. In order to analyze the effects of the CRS and FATCA, it is essential to understand the pros and the cons of the international cooperation on tax matters and its available tools before the CRS and FATCA were created. As there is limited previous literature on the subject, the methodology of the research will consist mainly of analyzing the guidelines issued by the international public body representatives and of the current legislative framework. The main finding of the paper can be considered the fact that the new developments in the automatic exchange of information field can represent a huge step forward towards limiting the tax evasion activity, however, one should be reserved due to aspects such as compliance costs, protection of private information, data gathering and processing techniques and tax residency uncertainty. Further analysis is required when the automatic exchange of information results will be available in order to update the reservations of the paper.
Middle management’s role in strategy implementation projects: a behavioral analysis
Authors: Kiehne Jan , Ceausu Ioana , Arp Ann-Katrin , Schüler Timm
Published: August 2017

The ability of businesses to adapt their strategy quickly and effectively to the changing environment in an ever more globalized economy has become one of the key success factors for sustainable competitive advantage and above average economic returns. Success factor oriented research has identified a number of obstacles that hinder effective strategy implementation and there is growing support in the research community that the behavior of middle management, who frequently take on key positions in strategy implementation projects, is of significant importance for success or failure. However, most studies have looked at the issue from a descriptive perspective, only few have analyzed the role of middle management from a normative viewpoint. This study builds upon Porter and Lawler’s qualitative model of managerial motivation which is transformed into a quantitative principal agent model to analyze the behavior of middle managers as key actors in executing strategic projects. The analysis highlights the necessity of adequate incentive systems for strategy implementation projects. Further, the importance of managing both objective and perceived implementation risk is demonstrated. Finally, the authors suggest distinguishing obstacles of strategy implementation into process issues and behavioral issues.
Factors affecting the quality of external auditing services
Authors: Alaraji Fedaa Abd Almajid Sabbar , Al-Dulaimi Zaid Yaseen Saud , Sabri Thamer Mahdi Muhamed , Ion Elena Iuliana
Published: August 2017

This study is aim to adopt knowledge the specific concept to external audit quality and which are the factors that affecting on those qualities in the State of Iraq. As well as, to knowledge the range of depend this job in Iraq on international or local criterion to external audit quality or not. Also, to identify the satisfaction of interested parties about job of audit on service of external audit or not. According to viewpoint external audit the workers in this job and interested parties about external audit in Iraq where practice the profession of external audit under the supervision and control of the board of the profession consists of members appointed by the government ministries no are elected. The study reached to a set of many conclusions, most important of all that the realization external audit in Iraq for importance of external audit quality. Although no existence no concept of specific criterion for quality, whether international or local. Therefore, this study recommends a set of recommendations necessary to adopt uniform criterion for the quality of the external audit job in Iraq, whether international or local, to achieve high quality in audit services and achieving satisfaction of interested parties on those services.
Capital markets in Central and Eastern Europe: two selected cases
Authors: Nicolescu Luminiţa , Tudorache Florentin Gabriel
Published: August 2017

The evolution of mutual funds in terms of their inflows and outflows is seen as a good indicator of the capital markets’ performance in different countries. At individual level, investors substantiate their buying decisions on the past performance information and invest asymmetrically in funds with very good performance in the previous periods. Numerous studies, mainly conducted in US, illustrate that mutual fund flows are highly dependent on the funds’ previous performance, as a common behavior of investors resides in looking for highly performing funds than to get rid of poorly performing ones. This paper investigates the flows of funds into and out of Slovakian and Hungarian mutual funds during the period 2007-2014 and has as main purpose to analyze the behavior of investors in mutual funds in these two emerging financial markets. The analysis focuses on identifying patterns in investors’ decision making processes and on checking the similarity of their behavioral patterns and illustrating differences among the two. Given the peculiarities of the studied period, a financially turbulent period, the paper also tries to evaluate if and how the financial crisis affected the investing behavior of Slovakian and Hungarian investors, based on the evolution of inflows and outflows of funds in a period that comprises the global financial crisis and the present period in which recovery has started.
Operational risk quantification and modelling within Romanian insurance industry
Authors: Tudor Răzvan , Badea Dumitru
Published: August 2017

This paper aims at covering and describing the shortcomings of various models used to quantify and model the operational risk within insurance industry with a particular focus on Romanian specific regulation: Norm 6/2015 concerning the operational risk issued by IT systems. While most of the local insurers are focusing on implementing the standard model to compute the Operational Risk solvency capital required, the local regulator has issued a local norm that requires to identify and assess the IT based operational risks from an ISO 27001 perspective. The challenges raised by the correlations assumed in the Standard model are substantially increased by this new regulation that requires only the identification and quantification of the IT operational risks. The solvency capital requirement stipulated by the implementation of Solvency II doesn’t recommend a model or formula on how to integrate the newly identified risks in the Operational Risk capital requirements. In this context we are going to assess the academic and practitioner’s understanding in what concerns: The Frequency-Severity approach, Bayesian estimation techniques, Scenario Analysis and Risk Accounting based on risk units, and how they could support the modelling of operational risk that are IT based. Developing an internal model only for the operational risk capital requirement proved to be, so far, costly and not necessarily beneficial for the local insurers. As the IT component will play a key role in the future of the insurance industry, the result of this analysis will provide a specific approach in operational risk modelling that can be implemented in the context of Solvency II, in a particular situation when (internal or external) operational risk databases are scarce or not available.
The potential of intermodal transport projects in Romania
Authors: Tudorica Alexandra , Banacu Cristian Silviu
Published: August 2017

The transport infrastructure sector is facing challenges related to the decarbonisation, financing and integrated developments, which need to be overcome so it can gain a competitive advantage among the strategic economic sectors. Known as a major pollutant, with 23.3 % of the total EU-28 GHG emissions in 2014, one of the transport policy objectives is to lower this percentage, by focusing on innovative solutions and modal shift (Eurostat, 2016). The White Paper (2011) promotes a sustainable development, aiming at a reduction by 60% by 2050 of the carbon emissions generated by the transport sector and at a modal shift from road to rail or waterborne transport for freight transport over 300 km with 30% by 2030, and more than 50% by 2050. The focus on an integrated development of the transport sector at the European level was reinforced with the adoption of the EU Regulation no. 1315/2013, marking the transition from a patchwork of different projects towards a vision for the achievement of an EU transport network. Moreover, another challenge is related to the scarce availability of the public money, making it necessary to attract private parties in the development of the transport infrastructure projects (The Investment Plan for Europe, 2014). Supporting the development of the intermodal transport is a way of surmounting the obstacles that this sector is confronting with, which is being implemented in Europe. The intermodal transport is introducing a paradigm shift, allowing the integration of the different transport modes together with their own advantages, as opposed to competing stand-alone modes and it can aid in the fight against climate change, scarce financial resources and congestion This article aims at determining the potential of Romania, as a member of European Union, to develop intermodal transport projects, to identify the funding sources, the obstacles and the solutions to promote the successful implementation of such projects.
Monetary policy as a source of risk in international business financings and investments
Authors: Paun Cristian
Published: August 2017

This paper aims at explaining the volatility of two main macroeconomic variables (interest rate and exchange rate) that impact the cost of international capital and, consequently, the international financing decision. Firstly, the main economic theories are called to illustrate the relevant determinants of these variables from the perspective of demand and supply of capital sides. The state intervention through monetary policy is introduced to emphasize the alteration of these prices (the price of capital, the price of foreign currencies). The paper is presenting the role of these prices in international financing decision (based on the theoretical model used to estimate cost of international capital), their impact on the foreign direct investment decision and on the international portfolio investment decision. Finally, the paper describe the economic consequences of the monetary public intervention on the financing and investment decision in direct connection with the business cycle theory. The paper associates the monetary policy to the business cycles. The paper comments the unsound solutions proposed against the economic crises and that continued to harm negatively these prices generating the seeds for next international economic recession. The paper is a theoretical one, containing some very interesting research hypothesis and opening the paths for presumable further empirical researches.
Data science and digital society
Authors: Chen Cathy Yi-Hsuan , Härdle Wolfgang Karl
Published: August 2017

Data Science looks at raw numbers and informational objects created by different disciplines. The Digital Society creates information and numbers from many scientific disciplines. The amassment of data though makes is hard to find structures and requires a skill full analysis of this massive raw material. The thoughts presented here on DS2 - Data Science & Digital Society analyze these challenges and offers ways to handle the questions arising in this evolving context. We propose three levels of analysis and lay out how one can react to the challenges that come about. Concrete examples concern Credit default swaps, Dynamic Topic modeling, Crypto currencies and above all the quantitative analysis of real data in a DS2 context.
Robotic Automation Process - The next major revolution in terms of back office operations improvement
Authors: Anagnoste Sorin
Published: August 2017

Forced to provide results consistent results to shareholders the organizations turned to Robotic Process Automation (RPA) in order to tackle the following typical challenges they face: (1) Cost reduction, (2) Quality increase and (3) Faster processes. RPA is now considered the next big thing for the Shared Services Centers (SSC) and Business Process Outsourced (BPO) around the world, and especially in Central and Eastern Europe. In SSCs and BPOs the activities with the highest potential for automation are in finance, supply chain and in human resource departments. This means that the problems these business are facing are mostly related to high data entry volumes, high error rates, significant rework, numerous manual processes, multiple not-integrated legacy systems and high turnover due to repetitive/low value added activities. One advantage of RPA is that it can be trained by the users to undertake structured repeatable, computer based tasks interacting in the same time with multiple systems while performing complex decisions based on algorithms. By doing this, the robot can identify the exceptions for manual processing, remove idle times and keep logs of actions performed. Another advantage is that the automated solutions can work 24/7, it can be implemented fast, work with the existing architecture, cut data entry costs by up to 70% and perform at 30% of the cost of a full time employee, thus providing a quick and tangible return to organizations. For Romania, a key destination for SSCs and BPOs, this technology will make them more competitive, but also will lead to a creation of a series of high-paid jobs while eliminating the low-input jobs. The paper will analyze also the most important vendor providers of RPA solutions on the market and will provide specific case studies from different industries, thus helping future leaders and organizations taking better decisions.
The impact and importance of new technologies in business development in context of economic diversity
Authors: Ciobanu Oana-Georgiana , Neamţu Daniela Mihaela
Published: August 2017

In a globalized world, led and connected by and through technology, gadgets and perpetual and intense technological development, the business environment and the trajectory travelled by entrepreneurs in the process of creation and development of a business, becomes more and more challenging and complex. Continuous innovation has become mandatory and „adaptability” became the keyword for the success of any entrepreneurial actions. In this socio-economic context, an organization must find, through entrepreneurs or managers, the courage to face the uncertainty and be always prepared to adopt radical solutions, so that, can provide sustainability of the business through competitiveness. The purpose of this research started from the need for adaptability and flexibility of the Romanian entrepreneurial environment to the trends in the digital era, in order to maintain the level of competitiveness and to develop sustainably. The objective of this scientific approach is to conduct a qualitative comparative analysis relating to the importance and the impact of new technologies in the development and sustainability of a business. The comparison will be made through the eyes of two main categories of actors in the creation and development of a business namely entrepreneurs and managers from two consecutive generations - generation X (born between 1965 and 1980) and generation Y (born between 1980 and 1995). The methodology used in this study is qualitative research through focus group method, and it aims to be highlighted the changes occurred in leadership and management style of a business/organization, by observing and comparing the two generations' attitudes towards change, towards new, towards the digital component, and the intent of the use of new technologies, and more than that, their impact on the management style.
Stop hitting the woodwork! CRM for better fan-identification in Romanian second division football clubs
Authors: Roşca Vlad
Published: August 2017

According to pundits, Romanian football is at an unprecedented low in terms of sporting quality and fan followship altogether. A mix of mismanagement and public regulations have transformed football clubs into under-financed organizations, unable to groom their academic work, raise quality players and, subsequently, perform at highest level which ultimately led to a decrease in entertainment on the pitch and of the numbers in attendance. Adding to this is the loss of brand identity that has created a rupture between clubs and their fan-bases. The paper aims to look at customer relationship management principles that lower-league clubs can use to build better fan relationships, while also identifying, using the same CRM optic, what actually led to the decline in quality. Second tier football has been chosen as opposed to top-flight because it consists of several clubs with development potential within their municipalities, because some of their problems are more stringent than in the upper league and, last but not least, in many cases, total attendance per game is as low as 50-300 people. The research starts with a general presentation of customer relationship management. In order to prepare CRM’s adaptation to the business of professional sports, some focus will be set on the services industry. The article then presents how CRM can be applied to sports, and, in the end, it narrows down to the specific case of Romanian football by starting the investigation from some of the challenges currently faced by the sport. Particular attention is granted to the online environment, as the latter one is host to a wide range of not very expensive CRM strategies and tactics that clubs can use, cost being a factor to be taken into account for a sector with scarce monetary resources. Last but not least, the paper ends with a set of recommendations as well as future ideas for research.
Millennials between consumer ethnocentrism and attitudes towards local campaigns
Authors: Stamule Stere , Todea Steluța
Published: August 2017

This paper aims to measure the Romanian Millennials’ ethnocentrism tendency, together with their attitude of consumption towards Romanian-made products. Millennials, known as the Generation Y, are the demographic cohort, following the Baby Boomers and the Generation X. There is no specific date in time when this cohort begins and ends, but researchers put the early 1980’s as starting birth and, the mid-1990’s to early 2000’s as the ending birth year. Representing the youth and the young adult population, they are the principal source of worldwide influence in the world. Given the fast and massive changes of the society, in which the Generation Y developed, there are numerous socio-psychological characteristics promoted by researchers, all of these being essential for buying and consumer status of Millennials. The data were gathered using a structured online questionnaire, filled in by 518 Romanian youngsters, representative for the Generation Y, aged between 15 to 34 years old. Ethnocentrism was measured using the consumer ethnocentric tendencies scale (CETSCALE) developed by Shrimp and Sharma (1987). The attitudinal statements were used to measure the consumption behavior towards locally made products. The data was analyzed with the SPSS 20.0 statistics software for Windows, using descriptive statistics, factor analysis and correlation. The research results underline the role of the government and industry in encouraging Romanians to buy local products.
Trust as catalyst for the organizational performance. A focus on a medium-size IT Romanian company
Authors: Badea Raluca
Published: August 2017

In an environment where the shift from knowledge to social economy forces the company to identify a new sustainable approach to attire, motivate and retain employees, partners and shareholders, social capital and its elements seem to be the key. The focus of the article is to prove the contribution that trust, in its entirety, as primary component of the social capital, has on the organizational performance of the company. The centric piece of the paper is based on a quantitative research conducted in a medium size IT company and it is designed to support the hypotheses per which a high level of trust will positively influence the overall business results. Regardless if it’s societal trust, market trust, relationship trust or selftrust, the respondents are requested to assess its multiple dimensions as these are translated into the company’s principles and values, the leaders’ strategy to improve the life of the shareholders, the company’s brands and their impact on the consumers, the relationship between individual and his/her peers and managers, as well as the individual’s aspirational behavior to be a trusted colleague/employee. Analyzing the results of the questionnaire, trust as core element of the social capital appears to be a main factor that drives the competitive advantage, designed to boost the employees’ energy, increase the sustainability for the company, irreversibly gain the confidence of stakeholders and eventually act a catalyst for the individual and organizational performance. The in-progress results of this paper represent significant key findings that trigger a more advance research, at a larger scale, by evaluating other companies, with similar employees’ profile to confirm the magnitude of this influence and convince the business leaders to continue supporting the creation and leverage of social capital in general and strive to generate, build and maintain trust as a must have asset.