bluuebunny/crossref_metadata_2025_split huggingface dataset:
COVID-19 and stock markets comovement in emerging Europe
Authors: Carausu Dumitru-Nicusor , Lupu Dan 
Published: August 2022

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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

Abstract
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.