bluuebunny/crossref_metadata_2025 huggingface dataset:
Tackling market opportunities for the biomass production in Romania
Authors: Ignat Raluca , Chiripuci Bogdan-Cristian , Pătărlăgeanu Simona Roxana , Constantin Marius , Lazăr Valentin
Published: August 2022

The European Green Deal sets out a detailed vision for Europe to become a climate-neutral continent by 2050 by providing clean, secure, and affordable energy. Thus, with the aim of providing a market-oriented perspective on the economic potential of biomass-related activities, several data were analyzed in this research paper. The positive impact of the green transition is necessary to be studied both at macroeconomic and microeconomic levels. In this context, the research question addressed was: What is the impact of the green transition on farms’ performance and national economy? A descriptive statistical analysis was carried out in order to prove the importance of specific crops, taking into consideration the movements in the energy market and the farmer’s constraints in the era of the European Green Deal. The main objective of this research was to determine if biomass is one of the optimal solutions able to gather all these European desiderates. This conference paper identifies the best scenario for an agricultural farm using diversification activities and the macroeconomic impact of the biomass crops. Currently, the European context is the most favorable for resorting to biomass crops, especially if considering the recent global energy market dynamics. Additionally, there is a need for activities diversification at the farm level in order for them to become greener and to boost their socio-economic and environmental performance. Results confirm that there is considerable economic potential for biomass production in Romania. The added value of the paper is provided by both microeconomic and macroeconomic approaches.
The economy of material flow cycling in anthropized and anthropogenic systems
Authors: Negrei Costel , Istudor Nicolae , Petrescu Irina-Elena
Published: August 2022

The dematerialization of the development of anthropized and anthropic systems/complexes represents an objective of maximum importance for ensuring the coevolution of human activities and the natural environment, from the perspective of sustainability requirements. In this context, the use of methods for analyzing the reciprocal flows between the natural environment as a system and the socioeconomic system, in physical and energetic expression, provides us with the information support necessary to adopt measures to reduce specific consumption of ecosystem goods, respectively pressure on biophysical support of socio-economic systems, regardless of the spatial scale at which they are identified.

Approaches in the field of industrial ecology, but not only, have highlighted the need and possibility of material flows cycling, but this is a first step towards dematerializing the development of anthropogenic and anthropic systems/complexes. From the perspective of global performance, research is needed on cost/benefit analysis of decisions in this regard and evaluation of effects/impacts on structural and functional processes at the level of technical-productive organizations.
Local budget balance and influence factors
Authors: Platagea Gombos Svetlana , Mocanu Viorel , Istrate Bogdan , Barladeanu Tiberiu Vasile
Published: August 2022

The local budget appears as the main component of local finances that derives from all public finances and is individualized by a certain structure in which the number of administrative-territorial units in a country, the public services provided, the degree of economic development, etc. participate. local budgets reflect economic relations in the form of money that appear in the process of distributing the national income through which the funds necessary for the interests of the local public authorities that are coordinated by them are formed and distributed. The local public finances are also characterized by a transfer of value that takes place between the participants in economic establishment and use of the mobilized financial resources at the disposal of the authorities. The transfer of value is done without a direct consideration, which means that the person from whom the transfer of money resources is made from the local budget. Local public finances reflect the participation of individuals and legal entities in the form of taxes and fees in the formation of local budget revenues without direct and immediate consideration.
Implementation by Romania of the Energy Governance based on the Integrated National Energy and Climate Plan
Authors: Panait Daniela Zănescu
Published: August 2022

The current paper completes the empirical literature on the European Union (EU) climate and energy policy design and evaluation, namely the implementation part related to the development, assessment and approval of the Integrated National Energy and Climate Plans (NECPs) of the Member States (MS) for the period 2021-2030. These strategic documents are foreseen by the Governance Regulation no. EU 2018/1999 as the main tools used to implement the climate and energy policies and targets by 2030.

This paper is organized as follows: the abstract gives an overview of the paper and its main conclusions. Section 1 depict the introduction and background about the whole process around NECPs and the main provisions related under the Governance Regulation. Section 2 reviews literature from the perspective of the EU negotiations on 2030&2050 energy and climate targets, legal aspects of climate and energy governance and the process of NECPs development and approval. It also includes a short presentation of the data used for the analysis, including their sources. Section 3 gives an insight about the approval of Romania‘s NECPs by the European Commission. At the same time, this section briefly comments on proposals made by the national authorities and the recommendations using as starting point Romania‘s position in 2014 during the 2030 climate and energy negotiations while taking into account the dynamic of the geopolitical situation to date. Section 4 concludes.
Greening: politics and economics for social auditing. Sport management as common denominator
Authors: Vargas Vanesa Mădălina , Niţă Sorin , Marin Aurel , Joga Florentina Ecaterina , Stoica Mihaela-Ionica
Published: August 2022

This paper considers sport as a driver for politics and economics green incentives. While there are dichotomies in between green politics and economics, sport acts like a catalyst in between the two, by making use of its social dimension. In this respect, a stakeholder perspective is encouraged, especially when considering Corporate Social Responsibility coupled with ESG principles and non financial reporting. Sports is a 1.3 billion dollars industry that can set certain good practices and in this sense its “sport for development and peace” should be understood in broader terms. Social audits should be more extensive in order to capture better the links in between social, environment and governance factors, as reports from sports industry recently showed.
Impact of Engineering Change Request in Production System in the Pandemic Period
Authors: Pop Oana Bianca , Uifalean Dorel Cristian
Published: August 2022

Technical changes are part of the product or process life cycle. Their role is to develop the product and achieve the best production process. If it is functional, then engineering modifications are the best way to go. This work paper considered, the principles for change, how to effectively implement change in an organization, the importance of managing change and the role of management in change. The theoretical part of the work paper offer information about internal performance, and the implications during the implementation of changes in production system. From presented analysis show that the human factor is the key to the successful implementation of changes. After a successful study of the topics, it emerged that change requires management and full support of employees. Proper timings should be designed during change implementation. Lastly, a successful change agenda considers both internal and external stakeholders, that is, employees, management, and customers. To better the writings on the concept of change and management, this study is open to future research and more insight on change. The internal project team will use all these information in scope to ensure the success of the change. The analysis of engineering change request data shows that even though the quality of the engineering change request varies, there are several often-followed guidelines and best practices, in addition to the formal requirements for an engineering change request.
COVID-19 and stock markets comovement in emerging Europe
Authors: Carausu Dumitru-Nicusor , Lupu Dan
Published: August 2022

This study analyzes the stock market’s comovement between eleven Eastern European countries in the pre-COVID-19 and COVID-19 period with the USA and China. The methodology used is the wavelet analysis and subsequently the Toda Yamamoto causality test for robustness. This study improves literature by analyzing the ante and COVID-19 crisis period for Eastern European stock markets in relation to the USA and China. The results show that the COVID-19 crisis has generated an increase in the degree of interdependence with USA stock from medium and long to short term; in relation to China stock, if COVID-19 ante there were no links, during the crisis they began to manifest in the medium and long term.
Education and digitalization, the path to a more sustainable, resilient and secure society
Authors: Dorneanu Alexandra , Neamţu Dana Mihaela , Hapenciuc Cristian Valentin
Published: August 2022

The world experience proves that the development of the innovational society is directly linked to the concept of human capital through the development of the sectors where the accumulation of human capital takes place and primarily in the sphere of education and science. This paper is an exploratory research based on the analysis of macroeconomic indicators on digital performance, highlighting the progress made in terms of digital competitiveness, as well as on the digital framework and systemic conditions for education. The educational system is in a continuous dynamic; to cope with changes, this system is forced to make intensive use of creative techniques at all levels of it. However, in this context, many teachers are concerned about standardised processes and tests, compared to creative ones. Creativity has been and is combined with science: art and technology turn people’s ideas into facts. At the beginning of the twenty-first century, the importance of innovation for growth (especially economic growth) was recognized, but the question of non-technological innovation is also raised.

To this end, consideration was given to the processing and systematisation of secondary data taken from official reports prepared and published by the European Commission. Thus, we refer to the reports of the Digital Economy and Society Index (DESI) and the Human Capital Index (HCI) with reference to Romania, in the time horizon 2018-2020. The DESI 2020 reports are based on 2019 data. The UK is still included in the DESI 2020 and the EU averages are calculated for 28 member states. The DESI has been recalculated for previous years to reflect changes in the choice of indicators and corrections to the data. Human capital is a key trigger for sustainable, inclusive economic growth, but investment in health and education has not received the well-deserved attention. The index establishes a direct link between improved outcomes in health and education, productivity and economic growth.
Determinants of Government Debt in the Member States of the European Union: Sources of Fiscal Risk
Authors: Porumboiu Adriana Elena , Brezeanu Petre
Published: August 2022

In times when the national economy needs increased financial support from governments, the fiscal space they have and the determinants of public debt come to the fore. Sudden increases in public spending or significant decreases in public revenue represent fiscal risks, and the level of sovereign debt is a measure to quantify fiscal risk. At international level, banking crises, government guarantees, publicprivate partnerships, companies with majority state capital, and non-performing loans are revealed by history as the main sources of financial crises and fiscal risk. This study aims to identify whether social assistance expenditures, government guarantees, public-private partnerships, non-performing loans, or tax revenues influence the evolution of the government debt of the Member States of the European Union. The data used were taken from Eurostat and were organised as panel data, the analysed period is 2010-2018. To estimate the regressions, we used the Eviews software, and the results obtained revealed that social assistance is the variable that most strongly influences, in the same sense, the public debt. This points to the fact that changes in pension and social assistance spending, for example, topics with greater social impact, are capable of further indebtedness and have long-term effects on government spending on interest.
The impact of financial systems on economic growth in European Union member countries
Authors: Puşcaşu Ela-Andrada
Published: August 2022

As the economy develops, self-financed capital investments are less frequent, being replaced by financing through banking intermediation and later through capital markets. The development of financial systems has a positive effect on the mobilization of resources, improving corporate governance and risk management, leading to economic growth. The preponderance of previous research papers shows a positive relationship between financial development and economic growth. Studies using cross-sectional methodologies discover almost unanimously a positive link between financial development and economic growth, while studies with methodologies based on time series, panel data or case studies reach different conclusions depending on the period considered, the countries’ initial level of development and the structure of the financial systems. The purpose of this paper is to investigate the impact of financial systems on economic growth using panel regressions based on annual data regarding measures of financial development for the member countries of the European Union, for the period 1990-2020. The findings show that the development of the financial systems, through the activity of banks and capital markets, has a positive effect on the allocation of resources, the mobilization of savings and the efficient management of risks, leading in turn to economic growth if there is a correlation between the funds invested and the output of the real sector. The paper’s contribution to the field refers to the study of the long-term relations between the financial systems and the economic growth using data for all European Union countries, the findings helping to formulate public policies.
MIFID II and EMIR impact on Romanian banking system performance
Authors: Vasilca Miruna M. , Anton George , Cheptiş Alexandra , Vid Alin I.
Published: August 2022

MIFID II/MiFIR represents comprehensive financial market reforms in trading and settlement of financial instruments. The greatest impact of the new regulatory framework in the banking sector relates to pricing, trading, and reporting of banking products and classification of financial institutions. The new role of the financial market infrastructure provides more protection for bank customers and significantly increases market transparency. Banks are required to show their customers the best execution price on the relevant trading venues, transaction costs and market behavior. The regulation will be aligned with other financial market regulations of over-the-counter markets and market abuse protection to avoid regulatory overlap - European Market Infrastructure Regulation (EMIR). The new regulatory framework requires the banking sector to fully comply with the rules governing the banking system of the European Union. Banks must incur significant costs in order to restructure internal processes, acquire new technological support, and forego additional profits in competitive and transparent markets. This study analyses the impact of MiFID II/MiFIR and EMIR implementation on local banks’ performance (credit institutions, Romanian legal persons). Using a unique dataset from banks that have been operating in Romania over the period 2004-2020, it is shown that the implementation of the new regulatory framework did not affect the net trading income ratio of the selected banks. Moreover, the average trading asset ratio in the post-financial crisis period increased in comparison with the average trading asset ratio in the pre-financial crisis period. Local banks that took advantage of the large economies of scale obtained due to branch banking did not reduce their investment banking activities and product offerings to customers in the period following the introduction of the regulatory framework. Most of the costs of implementing the new regulatory framework were borne only by the ultimate parents of the controlled Romanian subsidiaries. All subsidiary banks benefited equally from these economies of scale.
Relationship between the COVID-19 pandemic and the macroeconomic indicators: Evidence from a global analysis
Authors: Tung Le Thanh
Published: August 2022

The COVID-19 pandemic is presenting a serious health crisis to humanity. This pandemic is also raising questions for both academic and policy administration. Using a global database, this paper aims to clarify the relationship between COVID-19 statistics and some macroeconomic indicators in 206 countries worldwide. The quantitative analysis process is done by two methodologies including the Pearson correlation and the Pooled-OLS regression. The result shows that the number of infections and deaths has positive and significant relationships with the population, the median age, and income per capita. The information from this paper can help policymakers have a better view of the COVID-19 pandemic as well as prepare effective responses in combating potential pandemics in the future.
Ethics in exam-supporting documents of professional accounting associations
Authors: Manea Andreia
Published: August 2022

This article aims to find out the degree to which selected professional associations across the globe publicly share their exams’ preparatory materials, whether ethics features in these materials and whether the degree of transparency and how much ethics is featured in their curricula are somehow linked to their size (and hence availability of resources).

The selection of associations includes the largest IFAC member bodies from the worlds’ most populous countries and the largest non-merged international accountancy association, ACCA for comparison as well as the Romanian accountancy body, CECCAR due to their origins. This article is part of a much wider research through which I attempt to give a 360-degree view of ethics education in the accounting profession to then reach the conclusion of whether its stakeholders feel that it is sufficient, relevant and enforceable. This will give a starting point for educators of ethics in accounting to adapt their teaching as they see fit. Already I have looked at how ethics is included in Romanian economic faculties’ curricula (through desktop-review of curricula content, interviews with professors and questionnaires with students) and will enhance this current research by further looking into how ethics is taught, examined and implemented in professional accounting associations’ Initial and Continuous Professional Development programs.

The conclusions of this research were that there was a large variation between associations in how transparently they publicly published exam preparation materials and also whether ethics was featured. The transparency and inclusion of ethics was not linked to the size of the associations.
Evolution of the wine market in Europe: trends and barriers in the context of the COVID-19 pandemic
Authors: Ticau Iulia Ruxandra
Published: August 2022

Evolution of the COVID-19 pandemic has brought considerable transformations to the worldwide markets, creating an economic and sanitary crisis. Distribution channels were disrupted, affecting supply networks and business models. With restaurants and bars closed down, banned airlines and travel restrictions implemented, the economic well-being of worldwide industries got disturbed. As global decreases in alcohol trade were registered, wine market was appraised an industry worthy of being taken under consideration, with focus on its market size, incurred revenues, price evolution and degree of embracing digitalization to adapt to the ongoing restrictions imposed by the COVID-19 pandemic. The latter one referring to traditional wine tasting rooms which were banned due to the lockdown, wine industry found online wine tasting as a profitable alternative. The presented metrics were analyzed in Europe, with a high focus on region’s main wine producers: France, Spain, Italy, Germany and Portugal, but not only. Research followed an exploratory approach to determine changes under pandemic restrictions, lockdown and finally economic crisis in the selected industry, by engaging international available data and statistics. The study, therefore, formulated relevant hypothesis based on market size and registered revenues, price evolution and adoption of online wine tasting strategies. Results of the paper highlight decreases in market size and revenues of European wine market, however, on the long-term, industry revival is forecasted. Prices slightly decreased mainly for prestigious wines (AOP labelled), showing consumer budget restraints brought by the crisis. European’s wine market digitalization show differences among countries, with Germany being a leader for engaging such technologies. Our paper brings a snapshot of current trends and barriers under the COVID-19 pandemic, acting as a future basis and guidance for researchers in the field.
Sourcing as business model for obtaining competitive advantage
Authors: Zamfir Ionut-Florin
Published: August 2022

The main aim of this paper is to explore sourcing as a business model that can be used by companies for obtaining competitive advantage over their rivals in a global environment. The strategic approach of sourcing has become an important capability for firms over the last 20 years as the international competition has intensified and given also the limited internal resources. This analysis approaches the worldwide necessity of identifying strategic sourcing relationships for creating new capabilities. A developed international sourcing based on partners/ suppliers was paramount for some companies to overpass the Covid-19’s disruptions in production and supply of different products and to overcome their competitors. Although these companies were affected on short run, they showed a high shock absorption capacity and ability to recover quickly after the shock. In a nutshell, they were more resilient to external shocks, and they succeeded to overcome the difficulties through an agile business reaction. Based on available theoretical data on sourcing, this paper takes a step forward by sketching a practical guide allowing companies to understand if they need to source totally or partially their portfolio of products. Furthermore, for those companies to which the sourcing solution becomes a necessary strategic move, this paper provides a view on the process they should follow to obtain a competitive advantage.
Person-Job Fit and Subjective Underemployment in Multinational Companies
Authors: Roşca Vlad I.
Published: August 2022

Using a multiple regression analysis, this paper studied existing links between person-job fit and subjective underemployment. Subjective underemployment is a contemporary topic especially in multinational companies, characterized by procedures that often make employees perceive themselves as un-fit with their role. Ten hypotheses were developed in order to test what factors might impact upon subjective underemployment. Results showed that accepting a job out of necessity has got negative consequences on the employee’s perceived fit with the job. On the other hand, positive consequences have been identified for correspondence with the job: the better the skills, qualifications and personality of an employee correspond to the job, the higher the perceived fit. A positive relationship has also been found between net income and job-fit: the higher the income, the better the job fit (or, else said, the lower the perception of underemployment).
Challenges of Purchasing Teams during the COVID-19 Global Health Crisis
Authors: Toma Simona , Radu Cătălina
Published: August 2022

As a result of dealing with global or internal crises, the role of the purchasing function usually increases. For example, facing the pandemic health crisis, the purchasing teams were forced to act in an agile way in order to deliver the expected value within the organizations. On the other hand, there are continuous challenges for the purchasing teams, coming from the supply chain, market uncertainties, spending management, potential misalignment, or changing priorities within a company’s objectives. This paper is a qualitative study based on semi-structured interviews addressed to eight purchasing executives from the local banking organizations (in Romania). The study focuses on the challenges the purchasing teams have faced in the last period and the potential solutions that were applied to ensure continuity and success within their organizations. It was demonstrated that the complexity of the purchasing teams’ activity has been exacerbated during the health pandemic crisis and there were identified strategies for the potential future crises.
Economic and social cohesion in the European Union: rhetoric and reality
Authors: Holobiuc Ana-Maria , Miron Dumitru
Published: August 2022

Analysts have many arguments to underline that the European integration project, which celebrates in March 2022 65 years from the signing of the Treaties of Rome, has passed the test of time, proving its capacity to fulfill many of its strategic goals. However, in spite of the numerous achievements, one of the objectives that has been only partially accomplished aims the economic, social and territorial cohesion. The aim of this paper is to study the convergence patterns in the European Union between 1995 and 2020, taking into consideration the economic and social dimensions. In this respect, we have tried to determine if the European Union can assure prosperity, as reflected by GDP per capita and also to enhance the citizens’ welfare, as shown by households’ consumption expenditure and actual individual consumption per capita. To compare the main trends in this respect for the period 1995-2020, we have used β- convergence, while the degree of economic and social homogeneity in the European Union was examined by σ-convergence. Estimating cross-sectional regressions, we have found evidence in favor of β- convergence, as the initially less developed Members experienced higher GDP per capita growth rates than the developed ones. The hypothesis is also confirmed for the social indicators, illustrating that the citizens’ wellbeing has improved with a higher pace in the Central and Eastern group compared to the wealthy Western Europe. By determining σ-convergence based on the coefficient of variation, we have illustrated that income and wellbeing divergences generally had a downward trend between 1995 and 2019. However, the Covid-19 pandemic reversed the favorable trend and determined an increase of gaps, mainly in terms of GDP per capita.
The Need of Venture Capital Investors in Life Sciences Clusters: a Comparison between Romania and Germany
Authors: Porumboiu Cristina
Published: August 2022

This article aims to investigate the role of investors in the development of clusters. Previous studies validated that investors are an essential category of actors for the clustered companies, alongside the specialized suppliers, sophisticated buyers, regulatory authorities, or education institutions. Although most previous studies have focused on understanding the mechanisms of such structures and subsequent recommendations, the topic of financing opportunities was neglected. Therefore, based on the previous successful experience of other clusters, the question raised is whether venture capital can help clustered companies. For such an investigation, two countries were analyzed as case studies, based on the venture capital invested in the last years. Life sciences have been selected due to the larger need for funding the research and development activities, compared with other industries. As expected, the development of analyzed clusters was influenced by the availability of local resources; but in the case of Germany, the need of private investors has been confirmed by the local authorities since the first cluster policy.
Encouraging business innovation – how is this reflected in top 10 international automakers
Authors: Rîpa Ioan Alexandru
Published: August 2022

The theoretical concept of innovative work behavior (IWB) has achieved substantial consideration from academicians across the globe starting with the second half of the last century. More recent, for about three decades, researchers have become concerned with more concrete organizational implications towards the innovative work behavior. Therefore, they directed their attention to organizational factors that might influence innovative behavior and to the relationship between multiple organizational aspects and innovative work behavior. Employees’ behavior at work is a key component for organizational success. Consequently, employees’ innovative spirit plays a critical role in the performance of their companies. The current paper has two purposes. First, to do a key literature review on innovative work behavior as part of the general concept of innovation by highlighting the theoretical aspects from international literature. Second, to present an analysis on the topic of innovation for the top 10 multinational companies in automobile industry taking into consideration three components: the mission statement, core values and dedicated innovation section declared on their official global websites.
Customer relationship management in the international context – theoretical and practical considerations
Authors: Rîpa Ioan Alexandru
Published: August 2022

The customer relationship strategy as part of the general business strategy is focused on the interest for the clients, having as a main objective the strengthening of the long-term relationship between the companies and the clients. The essence of the Customer Relationship Management (CRM) dwells in preserving long-term partnerships, bringing added value within the business relation and delivering customised propositions to individual clients. By providing personalised products or services the company gets near the need of the client, thus making it a key customer. The bridge between the company and the key client is based on a cross-functional process through which the customer relationship management strategy is implemented. Therefore, the customer orientation becomes an impactful factor in the implementation process. Having a positive relationship with key customers and a better understanding of their needs and activity leads to clarity in the development of the customer relationship management strategy. This principle is worldwide accepted, regardless of industry in which operates the organization. The purpose of this paper is to do a key literature review on customer relationship management by enlightening both the theoretical aspects researched by academicians all over the world and empirical studies applied in international organizations. In addition, the applicative section of this paper consists in a comparison of customer relationship management dimensions’ level of implementation in two multinational companies (MNC) from different industries within fast moving consumer goods (FMCG) sector.
The role of central banks in supporting climate change efforts
Authors: Grigorescu Aura Elena
Published: August 2022

The paper uses qualitative research to provide a brief overview of the role that central banks can or should play in supporting the efforts to mitigate the effects of climate change, a topic that is currently under intense public scrutiny. In terms of their mandate, independence and responsibility, an implicit mandate regarding climate change objectives seems to be a safer option, as an explicit one would charge the central banks with an objective that they might not be well equipped to achieve. In terms of what central banks can do, the potential actions were separated according to monetary policies (quantitative easing and a reconsideration of the collateral that central banks accept in their operations, with a focus on green assets) and regulatory approaches (measures taken under the current Basel 3 regulatory framework, according to the three Pillars). Overall, it is showed that central banks can and very likely will have to play a role in these efforts, as the case studies included in the paper also hint. In particular, one main area for future research will be the options to adapt the regulatory framework to better support the efforts to mitigate climate change effects (macroprudential tools, different treatments of exposures according to their classifications as green or not etc.). Nevertheless, it is important to acknowledge that the bulk of the measures needed to achieve the desired climate change objectives will rest upon Governments, with the central banks’ actions being a complement to these measures, not a substitute of them.
Public policies and the business environment, factors that condition Romania’s transition to green energy. Case study: cogeneration plants.
Authors: Ciornei Laurențiu , David Getuța , Vlăducu Liviu-Valentin , Munteanu Paula
Published: August 2022

Combating the effects of climate change, energy security and providing the resources we need for life is the greatest trilemma of our times. This conflict could also be resolved through the transition to renewable energy and the implementation of the latest technologies that contribute to the efficiency of resource consumption and the minimization of losses. In this context, the adoption of cogeneration, trigeneration and cogeneration systems, based on renewable sources, intensely promoted in recent years, are solutions that can successfully contribute to achieving the green goals. However, such an approach depends very much on the quality of public policies and the way in which the business environment reacts, being important factors that can condition the pace and succession of the transition to the ecological future. From this point of view, Romania has not made significant progress. Although it has set up a state aid scheme under which it has provided financial support to high-efficiency cogeneration systems, the amount of electricity produced by the beneficiaries of this scheme has fallen by more than 35% in the last 8 years. Moreover, from a technical point of view, these plants remained at the level of the years 1960-1970, oversized and with a high fuel consumption. Based on this reality, the current study aimed at conducting several analyses to justify the causes for which the targeted objectives were not achieved. The results indicate that there is no causal link between the financial support provided and the amount of electricity produced by cogeneration systems, that could be explained by the lack of a common denominator between public and private initiatives.
Energy transition on the horizon: Highlights and lowlights within the power energy sector for supply chains decarbonization
Authors: Dijmarescu Eleonora , Maftei Mihaela , Fogoros Teodora Elena
Published: August 2022

We live demanding times and after two pandemic years the energy prices are rising worldwide. The world is hungry for energy and climate change calls for lower emissions. The major power energy sector challenges are the increased energy demand due to industrial activity, climate change, demographic pressures, and urbanization trends, including pandemic. The companies need efficient and reliable energy and decarbonization technologies to succeed. Industries and power generation companies had to take on many challenges while running their business operations. However, the process of decarbonization takes time and includes the energy transition away from conventional fuels, from coal to gas and then to hybrid systems with renewables and cleaner fuels, such as hydrogen. The aim of this paper is to set a basis to pinpoint the subject of “Supply chains Decarbonization” within the Power energy sector as one of the tough challenges yet to come. The main objective of this article research is to provide a critical review of the commitments for decarbonization of supply-chains with focus on the power energy sector, based on international business experts and research articles. The methodologies used for this research is based on very recent research papers and studies review of major consulting groups, publishers, and energy sustainability councils. Pros and cons hypotheses are being organized as Highlights/ Lowlights over long or short run, in the conjecture of various consulting experts. The findings reveal that consulting groups express concerns and attention for the risks, some of the risks could be significant, results are less to be noted in the short run, but the results and the achievements are to be considered in the longer period. Google trend shows that the syntagms of “decarbonization” and “energy transition” are well known and searched.
The new era of advanced biofuels in the face of regulatory uncertainty and investment needed for production
Authors: Negrea Camelia Gabriela
Published: August 2022

At this moment, environmental protection is the subject of almost daily debate, both in European and global forums. The most important thing is to find ways for countries to limit their carbon footprint as quickly as possible. Moreover, it should also be borne in mind that it is not desired that these options affect the daily life of individuals. These variants must be in line with the standards of living and needs that society has now. Ideally, this transition between the current options and the future options should be as seamless as possible so as not to create resistance to change in society. The transition to the new sustainable options should be phased in over a longer period, although the situation calls for rapid change with a major impact. The situation becomes even more challenging as the COVID-19 pandemic has brought major changes for companies around the world in the last two years. Not all governments have managed this crisis as well, and this uncertainty is now being reflected in investments in most sectors. Investment in new technologies, as far as the fuel industry is concerned, has been in question because of the uncertainty and rapid changes that society has experienced. This article is intended to highlight the major importance that these advanced biofuels can have for the environment, as well as the long-term sustainability they offer. The methodology of the paper is based on studies and indicators. For example, the company Clariant, as its contribution is well highlighted by the business direction it has towards biofuel technologies. In terms of literature, the subject is quite popular, but articles and papers are limited in number.
Cyber Ranges Implementation Methodology
Authors: Lates Ionut
Published: August 2022

Cyber Ranges represent complex, multi-component informatic systems, mainly used in the cyber security field. This domain is not the only operational scope of the Cyber Range concept. The applicability of this kind of system presents great benefits in domains like education, research, military etc. The entire scope of Cyber Range systems may be classified into three main categories: training and simulation, research and e-learning. The complexity of a Cyber Range system involves a time and financial consuming implementation. Depending on the area of operation, implementation may vary because each domain involves specific components. As a result, there must be steps prior to implementation in which the whole set of required pieces must be determined precisely. The existence of an implementation methodology may increase the performance and decrease the implementation costs - in the manner of time and financial resources. This paper aims to lay the foundations of a methodology for implementing cyber range systems in the main fields (training and simulation, research and e-learning). Starting from this methodology, detailed configuration and implementation procedures can be developed in each branch of each field.
Value Creation and Change Management in Digital Transformations
Authors: Markovits Paul Stefan
Published: August 2022

The premise of this paper is that Digital Transformation is the most recent and probably the most powerful toolbox in the effort to create value in a company. Digital Transformation is about changing the operating models of companies and consequently the way these companies create and deliver value to their stakeholders. The indexed literature (in total 6427 items in the Web of Science database on January 31st, 2022) studying the Digital Transformation phenomenon is dominated by the computer sciences and information systems perspective. Therefore, this paper proposes a slightly different and thus new paradigm using the lenses of value creation and change management linking it this way to the strategic management of the company. The purpose of the digital transformation should be value creation and because it is a profound transformation process it is subject to the change management process principles. Through the use of text mining and visual mapping conducted with the help of VOSviewer software version 1.6.17, this paper illustrates the conceptual map of the digital transformation literature and its links to value creation and change management.
The digitalization of supply chain management in Romanian companies: an introductive research
Authors: Rugiubei Radu , Pînzaru Florina
Published: August 2022

This study aims to identify from supply chain professionals employed in different Romanian companies from various industries what the digitalization status of the supply chain is. Companies, with regard to their size and industry, are not fully digitalized and this is because their focus usually lays on their main activity line and less on the rest of the processes involving supply chain management. Digitalization is adopted differently and most companies face different problems in adopting and implementing new technology. Based on a semi-structured interview with in-depth questions, this paper investigates the digitalization status of selected firms’ supply chain management systems. Results aim to understand the future trends in the supply chain in Romania and identify some best practices with practical relevance for managers. The interviewed managers managed to bring up the digitalization state of their companies supply chain practices, what are the main barriers they need to overcome to remain competitive and also how they manage change within the employees ranks. The study identified within different industries that supply chain practices are partially digitalized and require constant development and improvement. Based on the discussions revealed by our study, professionals and academics can further explore what the implementation of cutting edge or disruptive technology involves for supply chain management in the broad context of digital transformation.
A review of Artificial Intelligence and Machine Learning adoption in banks, during the COVID-19 outbreak
Authors: Antal-Vaida Claudia
Published: August 2022

The Covid-19 outbreak had a profound effect on many industries, and the financial sector was not an exception. Due to all the constraints imposed during this unprecedented event, banks had to rapidly reassess their strategies and adapt to new ways of working, without compromising the quality of their services, nor put their clients at risk. On the other side, the customer behavior changed too, mainly due to a significant movement of economy in the online world. Even though digitalization was not new to the financial institutions, the banks’ willingness to invest and customers’ readiness to adopt new technologies was not consistent, but the pandemic increased the pressure on banks to quickly find new opportunities and accelerated the deployment of data-driven technologies, while customers were compelled to embrace them and change their behavior. The main purpose of this paper is to understand the use of emerging technologies in mitigating the impact of the pandemic, but also the main changes and value add in key area fields like customer experience, process optimization and cost-savings, but also in the fraud detection and risk management areas. Moreover, the articles and studies considered for this paper highlighted the significant progress of banks in their digitalization journey during times of pandemic, mainly due to a rapid move of services in the online world. However, this shift is not risk-free, the reason why organizations need to consider the cybersecurity challenges and acknowledge the vulnerabilities of their platforms to take preventive measures to avoid or minimize potential negative effects.
Latest developments in cybersecurity management in Romania. Financing a condition for market evolution
Authors: Danţiş Dragoș
Published: August 2022

Cybersecurity has become one of the foundations for the development and protection of the economy and of its digital component. It has evolved gradually from a new science into a cross branch inside the modern society, maintaining a niche characteristic and raising the need for allocation of numerous resources at industry, country and international level.

Romania, similar to other states has witnessed the development of the ICT industry and of all the other services associated with it, with a particular focus on the cybersecurity. This was accompanied by some actions put in place by the public authorities and private players to guarantee the strategic importance of the sector: legislative update, launch of several initiatives and projects, introduction and enlargement of curricula in universities, collaboration with other specialized institutions, education of the population, creation of institutional framework, public-private partnership. Such a growing demand of this market has to be accompanied by a proper financing in order to achieve planned objectives.

This editorial will present some of the actions implemented to highlight the constructive approach in the overall transformation undertaken by Romanian organizations and some of the tools available to them to finance future projects. Among the various platforms accessible for financing, European Cybersecurity Competence Centre and Network and Horizon Europe could function as sources for market evolution.
The concept of quality of financial accounting information and the relationship with IFRS standards: analysis of the situation of companies listed on BVB
Authors: Dinu Elena Loredana
Published: August 2022

In the accounting profession the quality of information is a very important aspect. The concept of information quality covers three stages: the representation of reality and quality, the formation of meaning and the transmission of information. The purpose of this paper is to analyze the relationship between the quality of financial- accounting information and the relationship between the introduction of IFRS in the modernization of the national and international economy. Based on an extensive literature review, we find that implementing IFRS has yielded favorable results in terms of increasing the transparency and relevance of the value of financial information. The research follows general and specific approaches regarding the increase of the quality of financial – accounting information.

Development through entrepreneurial education and innovative doctoral and postdoctoral research, project code POCU/380/6/13/125031, Project co-financed from the European Social Fund through the Operational Program Human Capital 2014-2020.