Volume 25/2016

IFRS adoption in Romania and the importance of auditor size


Abstract: The recent accounting regulations in Romania have made mandatory the use of IFRS in the individual financial statements of the companies listed on stock exchange. The aim of this study is to see to what extent the figures in the statements have been influenced by this new enforcement. We have studied the companies affected by this regulation and publicly traded on the Bucharest Stock Exchange. Our findings showed that, on average, Romanian companies did not comply with IFRS practices, as they prefer the practices that do not differ from national regulation. Moreover, the study has shown that the companies audited by a Big 4 have adopted practices closer to the Anglo Saxon accounting system.

Keywords: IFRS implementation; individual statement; Romania; auditor

Pages: 3-9 | Full text (PDF)

What is marketing automation and how could it be used for business?

Author: Ioana IRINA

Abstract: During the past decades, technology continuously improved and developed new strategies for all existing industries, thus it built a huge product offer that could confuse customers. Marketing strategies had to align with industries’ development in order to build strong companies and make profits, so that was the starting point of the marketing automation idea. Even if we are talking about a market of billions of dollars, academic research is pretty poor on this subject, so this paper aims to provide an overview of marketing automation implementations and to explain providers’ success even if the software solutions they sell are very expensive.

Keywords: marketing automation; marketing software; business performance

Pages: 11-18 | Full text (PDF)

Consumption decision at the crossroads between standard economics and behavioural economics

Author: Ileana Andra MĂRCULESCU

Abstract: Standard economics considers the consumer as being a rational human being, who makes one-dimensional decisions – minimum effort (cost), maximum effect (value, satisfaction). Using a multidisciplinary approach, behavioural economics intends (and succeeds to a large extent) to study the concrete means by which people make decisions every day, questioning the postulates of traditional economics, and adding decision-making models taken from complementary scientific disciplines.

Keywords: standard economics; behavioural economics; consumer; consumption decision

Pages: 19-?? | Full text (PDF)

Sustainable development through growth poles

Author: Edith Mihaela DOBRESCU

Abstract: Propagation of growth and economic power at a global level demands for a collective management of the economic problems, this being, in the authors’ opinion, the most reliable mechanism to approach the issues and challenges brought along by a global multipolar economy. The distribution of the economy growth starts to be a reality at a global level, so that the dominant economic influence of a single country is no longer a reality. The growth of emergent economies turns to advantage the purports of a globalism which increasingly relies on growth and development poles. The global economy has never seen before such large-scale developments. Along the history of economy and economic thinking, the economic power paradigms have been designed and redesigned in terms of the rise and fall of the growth poles with the highest capacity to lead the global growth, and energize other countrieswith their international commercial and financial activity. This paper aimed to highlight, in the economic integration process, the growth poles in the local and regional economies, as well as certain important economies seen as growth poles for the global economy.

Keywords: sustainable development; world economy; growth poles; system of methodological analysis of growth poles (SMAGP); global economic governance; multipolarity; management

Pages: ??-?? | Full text (PDF)

Social malfunctions at the European level

Author: Paul LUCIAN

Abstract: For most countries, social policy is a use of political power on the economic system, with the purpose of achieving certain results based on other values than those determined by the forces of the free market; as such, it is deemed to be at the heart of the ideological rift between left and right wing politics. Initially, the European social model was based on the ‘welfare’ rule; the current European social model and future models are more complex, due to difficulties both at an European and at a national level. The greatest achievement of the European Economic Community refers to the fact that E.U citizens are entitled entitled to freedom of employment and movement across the European Union. We note that often times, this freedom creates disturbances on the labor market. Free movement of labor from one area to another, from one country to another can generate imbalances in the unemployment rate. Due to the enlargement integration process of the E.U., Central and Eastern Europe need to manage social disruptions between national social policies. The European Union is going through a crisis because of the lack of credibility and confidence of European citizens in Community institutions, which led to the deepening division of European citizens on solving common European problems. As such, there is a tendency for some highly developed Member states to take a new approach towards globalization, given that euroscepticism and populism has increased among political parties; the crisis is deepened by the Syrian refugee crisis and terrorism threats. Since the Treaty of Rome (1957) was signed, all the way to the Lisbon Treaty (2007), the European Union has made significant progress on the path of economic integration; as a novelty, as the Lisbon Treaty stipulated in art. 50, a member even choose to withdraw from the European Union.

Keywords: European citizen; unemployment; Schengen Area; social protection; free movement of people

Pages: ??-?? | Full text (PDF)

Are the competitor practices in the informal sector a major threat for hotels and restaurants?

Authors: Ioana Alexandra HORODNIC, Colin C. WILLIAMS, Adrian V. HORODNIC

Abstract: This paper evaluates the perceived impacts of the informal economy on registered business in the “hotels and restaurants” sector and identifies the characteristics of firms that perceive informal practices as the biggest obstacle faced in their activity. Reporting data from the Business Environment and Enterprise Performance Surveys conducted by the World Bank and the European Bank for Reconstruction and Development in 11 countries in Eastern Europe in 2013, the finding is that registered firms in the “hotels and restaurant” sector perceive informal practices as a bigger obstacle in their activity compared with firms in other sectors. Medium sized companies are less likely to consider the informal sector as the biggest obstacle faced in their activity, whilst a lack of subsidies reduces the likelihood of considering the informal sector as the biggest obstacle for the firm. The implications of the findings are then explored.

Keywords: informal economy; tourism; small business; sharing economy; Eastern Europe

Pages: 49-60 | Full text (PDF)

Implications of improving the quality of training human services agritourists in Southeast Romania

Authors: Mirela STOICAN, Adina Liana CAMARDA, Corina Carmen VIȘAN, Nelly FILIP, Culai DASCĂLU, Alina Mihaela IONAȘCU, Cristinel ȘONEA, Leonard STOICAN

Abstract: Reforms the last decades have changed practically all spheres of life and the activity of the rural population. National trend recorded demand growth of rural tourism has led to some organizational problems, reflected in shortage of qualified staff. A handy solution was offered the allocation by the European Social Fund, funds to train and retrain the trades, tourism and agrotourism. This research aims to identify the effects generated by investment in staff training, which is reflected in the quality of services offered by agritourism.

Keywords: agritourism; human capital; tourism services quality

Pages: 61-72 | Full text (PDF)

The economic cycle and sustaniable development

Author: Viorel Florin GÎLCĂ

Abstract: In the context of promoting a reduction of people’s environmental footprint, of addressing the gap between generations, individuals and nations and maintaining economic efficiency, reaching the goals of sustainable development is only possible with a change in people’s mindsets and with communities capable of using resources rationally and effectively and uncover the economic potential of economies, ensuring prosperity, environment protection and social cohesion. The complexity of the phenomenon as a basis for economic fluctuations in the macro-system warrants the intensive research activities of the main schools of economic thought in order to explain the economic cycle, to subsequently become in itself a foundation of the sustainable development process.

Keywords: sustainable development; economic cycle; financial crisis; bio-economy; resource

Pages: 73-83 | Full text (PDF)

Current challenges in rural finance

Author: Otilia MANTA

Abstract: From assessing the financing classical rural and evaluating the current situation of financing the rural world, we can say that in introducing and witnessing the intervention of certain persons to the goal of fateful building a facility for microfinance mechanism to facilitate sustainable access of rural entrepreneurs to sources of funding in a systematic and comprehensive manner, and that leads us to the development of perspective microfinance in rural areas. Microfinance solutions for small entrepreneurs (SMEs and microenterprises) in rural areas and outskirts of small towns, must be accompanied by an integrated package of support services microfinance (financial counseling, consulting and design services, care management throughout each project developed and co-financed from European funds, special assistance value chain, etc.) is a first process of the whole mechanism microfinance locally. Through this paper we try, besides a brief assessment of past rural credit, to bring to the fore the current mechanisms microfinance tailored to the current phenomenon of accelerated growth relative and absolute poverty agradului the countryside. Romania currently has over 2.5 million subsistence farms (rural households) and financialy excluded 5.5 million (the majority share of rural areas).

Keywords: inclusion; social; economic; microfinance; poverty; family farm

Pages: 85-95 | Full text (PDF)

Development factors of the agritourism farm offer in Poland: Wielkopolska region case study

Author: Olga SMOLEŃSKA

Abstract: The paper presents the development factors which determine forms of leisure and recreational services on agritourism farms. Author shows similarities in terms of leisure and includes farms of the same type due to attractiveness and type of services. The practical purpose of the research is the use of the results to tourism activities in the economy of the region Wielkopolska. The data source is a questionnaire survey on agritourism farm owners in Wielkopolska voivodship and their potential customers. The methodology is based on a standardized interview among farm owners (218 questionnaires) and a diagnostic survey to potential guests (100 questionnaires). The dissertation contains also an analysis of secondary data source and an analysis of scientific and statistical documents, based on Polish and foreign sources. The analysis characterizes recreational offer and services, identifies factors and conditions for their development in the context of sport and leisure. It was found that the supply of agritourism farm activities in Wielkopolska is very diverse. These are offers of services above all such as horseriding. The diversity of recreational activities allows to classify agritourism farms in Wielkopolska in certain types, that is to say: recreational and sports tourism farms; health and food tourism farms; natural and ecotourism farms; educational and entertainment farms. However the terms and factors, such an attractiveness and potential of environment are very different for farms and areas, their development (tourism function) is uneven in the region. The offer is almost converging with the notions of potential customers but currently most agricultural sectors are in crisis. Based on the analysis it is possible to create the product brand for regional agritourism which will be formed on health and physical activity. The best way seems to be the collaboration of farms with other science and economic organisations to create a cooperative network. However, all this requires a financial and institutional support at a local and regional level.

Keywords: agritourism; classification; factor; farm; leisure; offer; rural tourism; typology

Pages: 97-108 | Full text (PDF)

La nécessité d’un nouveau modèle éducatif (The necessity of a new educational model)

Authors: Emilian M. DOBRESCU

Abstract: Man cannot survive in today’s globalized world without specific adaptation within the millennial experience encompassing knowledge and new conditions for the development of life on Earth. Human adaptation to the current evolution of life on Earth can only be achieved by adapting to the present realities of millennia of human life and experience. This is possible through a new educational model based on education and new forms of interpersonal communication, non-formal education, and lifelong learning.

Keywords: education; humanity; new educational model; principles, methods, and pathways of the model

Pages: 109-?? | Full text (PDF)