carte abstract program2 - UAIC · Sorin-Stefan MAHA Liviu-George MAHA Discussant: Presenter of paper no. 1 3. THE EUROPEAN DIMENSION OF ENTREPRENEURIAL ... Laurentiu ONOSE Discussant:

PROGRAMME

INTERNATIONAL CONFERENCE

INSTITUTIONS AND

ECONOMIC PERFORMANCE

NOVEMBER 18-19, 2011

IASI, ROMANIA

ALEXANDRU IOAN CUZA UNIVERSITY OF IASI FACULTY OF ECONOMICS AND BUSINESS ADMINITRATION DOCTORAL SCHOOL OF ECONOMICS

VITH INTERNATIONAL CONFERENCE INSTITUTIONS AND ECONOMIC PERFORMANCE

18-19 NOVEMBER 2011 IAŞI, ROMANIA

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SCIENTIFIC COMMITTEE

Professor Dinu AIRINEI, Alexandru Ioan Cuza University of Iaşi Professor Ioan ANDONE, Alexandru Ioan Cuza University of Iaşi Professor Vasile COCRIŞ, Alexandru Ioan Cuza University of Iaşi Professor Bernard COLASSE, Université de Paris-Dauphine, France Professor Christian CORMIER, Université de Poitiers, France Professor Robert H. DESMARTEAU, Université du Québec à Montréal, Canada Professor Ion IGNAT, Alexandru Ioan Cuza University of Iaşi Professor Vasile IŞAN, Alexandru Ioan Cuza University of Iaşi Professor Elisabeta JABA, Alexandru Ioan Cuza University of Iaşi Professor Mihai KORKA, Academy of Economic Studies, Bucharest Professor Luis PALMA MARTOS, University of Seville, Spain Professor Emil MAXIM, Alexandru Ioan Cuza University of Iaşi Professor Seyed MEHDIAN, University of Michigan-Flint, U.S.A. Professor William MENVIELLE, Université du Québec à Trois-Rivières, Canada Professor Dumitru MIRON, Academy of Economic Studies, Bucharest Professor Luiz MONTANHEIRO, Sheffield Hallam University, United Kingdom Professor Mihaela ONOFREI, Alexandru Ioan Cuza University of Iaşi Professor Dumitru OPREA, Alexandru Ioan Cuza University of Iaşi Professor Carmen PINTILESCU, Alexandru Ioan Cuza University of Iaşi Professor Ion POHOAŢĂ, Alexandru Ioan Cuza University of Iaşi Professor Louis G. POL, University of Nebraska at Omaha, U.S.A. Professor John M. POLIMENI, Albany College, U.S.A. Professor Spiridon PRALEA, Alexandru Ioan Cuza University of Iaşi Professor Adriana PRODAN, Alexandru Ioan Cuza University of Iaşi Professor Ştefan PRUTIANU, Alexandru Ioan Cuza University of Iaşi Professor Victor PLOAE, Ovidius University, Constanţa Professor Gerry RAMEY, Eastern Oregon University, United States of America Professor Ion Gh. ROŞCA, Academy of Economic Studies, Bucharest Professor Constantin ROŞCA, University of Craiova Professor Constantin SASU, Alexandru Ioan Cuza University of Iaşi Professor Victoria SEITZ, California State University, United States of America Professor Ovidiu STOICA, Alexandru Ioan Cuza University of Iaşi Professor Neculai TABĂRĂ, Alexandru Ioan Cuza University of Iaşi Professor Ioan TALPOŞ, West University of Timişoara Professor Gabriel TURINICI, Université de Paris-Dauphine, France Professor Adriana ZAIŢ, Alexandru Ioan Cuza University of Iaşi Professor Dumitru ZAIŢ, Alexandru Ioan Cuza University of Iaşi



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ORGANIZING COMMITTEE Professor Ion POHOAŢĂ – President of the Organizing Committee Professor Dinu AIRINEI Professor Vasile COCRIŞ Professor Iuliana GEORGESCU Professor Gabriela PASCARIU Professor Carmen PINTILESCU Professor Adriana PRODAN Professor Adriana ZAIŢ Assistant Lecturer Andreea IACOBUŢĂ Research Assistant Alin Marius ANDRIEŞ Research Assistant Ana Iolanda VODĂ Ph.D. candidate Mircea ASANDULUI Ph.D. candidate Gabriel CUCUTEANU Ph.D. student Oana Catalina VICOL SECRETARIATE Ph.D. candidate Teodor MOGA Ph.D. candidate Sinziana SPIRIDON Ph.D. student Delia DIACONAŞU Ph.D. student Daniel JURAVLE



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CONFERENCE VENUE

Alexandru Ioan Cuza University of Iasi, Faculty of Economics and Business Administration

Lăpuşneanu Street no.14, Iasi, Romania

4th and 5th Floors



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PROGRAMME

NOVEMBER 18, FRIDAY

1000-1100 Registration 1100-1300 Plenary session - Conference Opening 1300-1500 Lunch – Hotel Akademos 1500-1700 Parallel sessions 1900 Dinner – La Castel Restaurant

NOVEMBER 19, SATURDAY

1030-1230 Parallel sessions 1230-1300 Coffee Break 1300-1500 Parallel sessions



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DETAILED PROGRAMME

November 18, Friday

1000-1100 Registration 1100-1300 Plenary session - Conference Opening

Room 502

Professor Ion POHOAŢĂ, Executive of the Doctoral School of Economics, Alexandru Ioan Cuza University of Iasi - Welcome Speech

1. THE IMPACT OF FINANCIAL CRISIS ON BANKING EFFICIENCY: THE EUROPEAN COUNTRIES EXPERIENCE

Alin Marius ANDRIEŞ Discussant: Presenter of paper no. 4 2. MODELING AND FORECASTING THE OPTIONS' VOLATILITY: THE CASE OF CARREFOUR STOCK OPTIONS

Mircea ASANDULUI Discussant: Presenter of paper no. 1 3. REGIONAL AND INTERNATIONAL CAUSAL LINKAGES. EVIDENCE FROM CEE STOCK MARKETS

Delia-Elena DIACONASU Discussant: Presenter of paper no. 2 4. ASPECTS REGARDING THE IMPACT OF THE CURRENT CRISIS ON THE ECONOMIC PERFORMANCES IN THE TOURISM COMPANIES

Gina Ionela BUTNARU Luminita Mihaela ION

Discussant: Presenter of paper no. 3



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1300-1500 Lunch – Hotel Akademos

1500-1700 Parallel Sessions Room 411, 4th floor

Panel A Chairman: Professor Vasile COCRIŞ

1. AN ANALYSIS ON THE EXCHANGE RATE AND GOVERNMENTAL DEBT

Carmen SANDU Discussant: Presenter of paper no. 6 2. STRUCTURAL AND COHESION FUNDS VERSUS THE IMF LOANS: IMPLICATIONS AND CHALLENGES FOR THE ROMANIAN FINANCIAL SYSTEM

Vasile COCRIŞ Corina BERICA Anca Elena NUCU

Discussant: Presenter of paper no. 1 3. ECONOMIC CRISES AND INSTITUTIONAL PERFORMANCE IN EU COUNTRIES

Roxana Maria IACOB-GRECU Discussant: Presenter of paper no. 2 4. CORPORATE REPUTATION AND THE PHARMACEUTICAL MARKET IN THE CONTEXT OF WORLD CRISIS

Luminita Mihaela ION Gina Ionela BUTNARU




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5. PERFORMANCE EVALUATION INITIATIVES IN PUBLIC ORGANIZATIONS

Alexandra Ema CIOCLEA Discussant: Presenter of paper no. 4 6. THE CONCEPT OF TRUE AND FAIR VIEW IN THE KNOWLEDGE SOCIETY

Ioana BALAN Discussant: Presenter of paper no. 5 Room 502, 5th floor

Panel B Chairmans: Professor Ion POHOAŢĂ

Assistant Lecturer Andreea IACOBUŢĂ 1. ASPECTS REGARDING ENVIRONMENT PROTECTION IN PUBLIC ACQUISITION PROCESSES

Ioana Livia MANEA Anda OBOROCEANU - POPA

Discussant: Presenter of paper no. 6 2. A BROADER LOOK ON MIGRATION: A TWO WAY INTERACTION BETWEEN ECONOMIC PERFORMANCE AND MIGRATION IN THE ORIGIN COUNTRY

Cristian ÎNCALTARAU Sorin-Stefan MAHA Liviu-George MAHA

Discussant: Presenter of paper no. 1 3. THE EUROPEAN DIMENSION OF ENTREPRENEURIAL ROMANIAN CULTURE

Maria Irina DROMERESCHI Discussant: Presenter of paper no. 2



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4. A CONCEPTUAL MODEL FOR THE USE OF SOCIAL MEDIA IN COMPANIES

Cristian NISTOR Discussant: Presenter of paper no. 3 5. HUMAN RESOURCES ENGAGED IN AGRICULTURE AND RURAL AREAS OF ROMANIA- COMPETITIVENESS FACTOR OR CONSTRAINT FOR DEVELOPMENT?

Ramona-Elena OBREJA Discussant: Presenter of paper no. 4 6. LEADING A BUSINESS IN BECOMING GLOBAL – CASE STUDY ON IKEA

Ioana Cristina COLBU Discussant: Presenter of paper no. 5 1900 Dinner – La Castel Restaurant



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November 19, Saturday 1030-1230 Parallel Sessions Room 402, 4th floor

Panel C Chairman: Professor Adriana PRODAN

1. OECONOMICUS vs. ACADEMICUS – DIACHRONIC PERSPECTIVE OF THE RELATIONSHIP BETWEEN KONDRATIEFF’S CYCLES AND STRUCTURAL REFORM OF HIGHER EDUCATION

Constantin HĂLĂNGESCU Discussant: Presenter of paper no. 5 2. PERSONNEL REWARD PERFORMANCE IN THE HOSPITAL MANAGEMENT SYSTEM

Ana Maria BOBEICA Discussant: Presenter of paper no. 1 3. TRADE RELATIONS - THE MAIN TOOL TO STRENGTHEN COOPERATION BETWEEN THE EU AND ITS EASTERN EUROPEAN NEIGHBORS

Teodor Lucian MOGA Discussant: Presenter of paper no. 2 4. UBIQUITOUS WEB TECHNOLOGIES AND APPLICATIONS

Napoleon-Alexandru SIRETEANU Discussant: Presenter of paper no. 3 5. INTERRATER RELIABILITY TESTING FOR MULTIPLE RESPONSE ITEMS

Sinziana Ioana SPIRIDON Oana Catalina VICOL




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Room 407, 4th floor

Panel D Chairman: Professor Iulia GEORGESCU

1. COMPARATIVE ANALYSIS OF THE SOUNDNESS OF BANKING SYSTEMS IN BULGARIA, POLAND, ROMANIA, SLOVAKIA AND HUNGARY

Anişoara Niculina APETRI Discussant: Presenter of paper no. 5 2. THE EVOLUTION OF BANK LIQUIDITY AND PROFITABILITY IN CENTRAL AND EASTERN EUROPEAN COUNTRIES

Alin Marius ANDRIEŞ Vasile COCRIŞ Maria POPESCU

Discussant: Presenter of paper no. 1 3. THE ADMINISTRATIVE CAPACITY FOR ENSURING SOCIAL PROTECTION

Irina BOSIE Discussant: Presenter of paper no. 2 4. ECONOMIC VALUE ADDED VS THE TRADITIONAL ACCOUNTING MEASURES OF PERFORMANCE - THE EFFECT ON SHAREHOLDER VALUE

Bogdan IONASCU Discussant: Presenter of paper no. 3 5. A PRACTICAL APPROACH ON MAKING USE OF CASE STUDY RESEARCH IN ECONOMICS

Codrin-Marius TEIU Daniel JURAVLE




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Room 411, 4th floor Panel E Chairman: Professor Ovidiu STOICA

1. THE INSTITUTION OF MENTOR TEACHERS IN THE VISION OF THE NEW LAW OF NATIONAL EDUCATION IN ROMANIA

Mihai ALEXANDRU Discussant: Presenter of paper no. 5 2. PROSPECTIVE MANAGEMENT ACCOUNTING AND LIFE-CYCLE COSTING (LCC)

Laura CRETU-RADULESCU Discussant: Presenter of paper no. 1 3. SCALE TYPES, ANALYSIS METHODS AND STATISTICAL PROCEDURES USED TO MEASURE DESTINATION IMAGE

Oana Catalina VICOL Sinziana SPIRIDON

Discussant: Presenter of paper no. 2 4. THE INTERACTION BETWEEN FORMAL AND INFORMAL INSTITUTIONS IN THE PROCESS OF ECONOMIC DEVELOPMENT

Amalia TOMA Discussant: Presenter of paper no. 3 5. THE IMPACT OF THE POLITICAL BUSINESS CYCLE IN THE EMERGENT ECONOMIES

Claudiu ŢIGANAŞ Claudiu PEPTINE

Discussant: Presenter of paper no. 4 1230-1300 Coffee Break



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1300-1500 Parallel Sessions Room 402, 4th floor

Panel F Chairman: Professor Carmen PINTILESCU

1. DOES DEVELOPMENT AID STIMULATE A PROGRESS IN ACHIEVEMENT OF MILLENNIUM DEVELOPMENT GOALS?

Veronika KAJUROVÁ Daniel STAVÁREK

Discussant: Presenter of paper no. 6 2. CONTROVERSIES REGARDING THE UTILIZATION OF ALTMAN MODEL IN ROMANIA

Dan LUPU Discussant: Presenter of paper no. 1 3. THE OPTIMIZATION OF TAXATION ACCOUNTING REPORT

Laurentiu ONOSE Discussant: Presenter of paper no. 2 4. THE IMPACT OF FINANCIAL CRISIS ON NONPERFORMING LOANS (NPLS) IN CENTRAL AND EASTERN EUROPEAN BANKING SECTORS

Maria POPESCU Discussant: Presenter of paper no. 3 5. THE CONVERGENCE PROCESS IN THE CURENT EUROPEAN AND WORLDWIDE CONTEXT: THE NECESSITY FOR REASSESSEMNT OF THE SINGLE CURRENCY PROJECT

Elena CIOBANU-SIRETEANU Discussant: Presenter of paper no. 4 6. BISMARCK OR BEVERIDGE? EUROPEAN HEALTHCARE SYSTEMS IN A COMPARATIVE PERSPECTIVE

Andreea IACOBUŢĂ Sorin Gabriel ANTON




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Room 407, 4th floor Panel G Chairman: Professor Mihaela ONOFREI

1. THE GENERAL AGRICULTURE CENSUS 2011- AN IMPORTANT STEP TOWARDS DEVELOPMENT OF MOLDOVAN AGRICULTURAL STATISTICS SYSTEM

Oleg CARA Discussant: Presenter of paper no. 5 2. EFFECTS OF THE CURRENT CRISES ON THE ECONOMY AND GLOBAL TRADE

Gabriela Liliana CIOBAN Discussant: Presenter of paper no. 1 3. SOCIAL RESPONSIBILITY - VALENCE OF THE NON-ECONOMIC PERFORMANCE

Bogdan IONASCU Discussant: Presenter of paper no. 2 4. IMPACT OF CURRENT CRISIS ON STATE POLICY TOWARDS CAPITAL OUTFLOW FROM BRIC COUNTRIES

Olga SHISHKINA Discussant: Presenter of paper no. 3 5. THE ROLE OF MONEY MARKET FUNDS IN THE GLOBAL FINANCIAL CRISIS AND IMPLICATIONS FOR THE REGULATORY REFORM

Silviu URSU Discussant: Presenter of paper no. 4



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Room 411, 4th floor Panel F Chairman: Professor Mircea GEORGESCU

1. ENDOGENOUS INSTITUTIONAL CHANGE WITH ENDOGENOUS INTEREST GROUPS

Karim KHAN Discussant: Presenter of paper no. 5 2. THEORETICAL CONTROVERSY ON STRATEGIC TRADE POLICY

Liviu-George MAHA Sorin-Stefan MAHA Cristian ÎNCALTARAU

Discussant: Presenter of paper no. 1 3. AN ANALYSE OF BUCHAREST STOCK EXCHANGE MARKET PERFORMANCE USING CROSS SECTIONAL DISTRIBUTION OF PER

Andreea VASILIU Neculai TABARA

Discussant: Presenter of paper no. 2 4. CYCLICAL NATURE OF ECONOMIC PROCESS. LESSONS FOR TODAY AND TOMORROW

Ana Iolanda VODĂ Cătălin CHIRIAC

Discussant: Presenter of paper no. 3 5. PERCEPTIONS ON THE VALUE OF ONLINE MARKETING INTELLIGENCE

Gabriel CUCUTEANU Elena Lidia ALEXA Marius ALEXA




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ABSTRACTS



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THE INSTITUTION OF MENTOR TEACHERS IN THE VISION OF THE NEW LAW OF NATIONAL

EDUCATION IN ROMANIA

Mihai ALEXANDRU Stefan Procopiu High School

Iasi, Romania [email protected]

ABSTRACT

The Law of National Education in Romania, introduced in early 2011, but also the methodology for setting the mentor teachers determined the new legal framework regarding the institution that coordinates the mentor teacher and form teacher trainee, guiding the trainees with informational, evaluative and emotionally support.

Acquisition function for insertion mentor teacher teaching teacher / trainee teachers / season is made based on promoting a specific contest, organized by school inspectorates.

Each county school inspectorate is mandated to conduct a selection procedure for mentor teachers employability of teachers / trainee teachers / season, which will be approved in the Board and will be made public until February 1, 2012.

The procedure governing the responsibilities of the County Commission for mentoring, assessment grid and grid portfolio candidate assessment practical tests, in compliance with well-defined criteria are part of that methodology.

We are highlighting the framework in which it operates mentor teacher but also we want to do some proposals which, in our view, would positively influence the selection methodology.



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THE IMPACT OF FINANCIAL CRISIS ON BANKING EFFICIENCY: THE EUROPEAN

COUNTRIES EXPERIENCE

Alin Marius ANDRIEŞ Faculty of Economics and Business Administration, Alexandru Ioan

Cuza University of Iasi Iaşi, Romania

[email protected]

ABSTRACT

This paper analyzes the profitability of 923 commercial banks from 27 countries, member states of the European Union, over the period from 2001 to 2009. To assess the impact of the recent financial crisis, we separately consider the pre-crisis period, 2001–2006, and the crisis years of 2007–2009. Our efficiency determinants include bank-specific variables as well as banking system specific and macroeconomic characteristics. The inclusion of these additional factors as well as the separate consideration of the crisis years allow us to gain new insights into what determines the efficiency of commercial banks in EU.

Keywords

Banking, efficiency, financial crisis.

ACKNOWLEDGEMENTS

This work was co-financed from the European Social Fund through Sectoral Operational Programme Human Resources Development 2007-2013, project number POSDRU/89/1.5/S/59184 „Performance and excellence in postdoctoral research in Romanian economics science domain”



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THE EVOLUTION OF BANK LIQUIDITY AND PROFITABILITY IN CENTRAL AND EASTERN

EUROPEAN COUNTRIES

Alin Marius ANDRIEŞ Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Vasile COCRIŞ Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Maria POPESCU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Using data for 236 banks operating in Central and Eastern Europe between 2004-2010, this paper analyzes liquidity and profitability of Commercial banks, Savings banks, Cooperative banks, Real Estate & Mortgage banks, Investment banks and Bank holdings & Holding companies. To account for the impacts of the recent financial crisis, we separately considered the years before and during the crisis, namely the period up to 2006, and the crisis years 2007, 2008 and 2009. The results clearly show that there exist large differences in profitability and liquidity among the banks in our sample and that a significant amount of this variation can be explained by the bank-specific, industry-specific and macroeconomic factors included in our analyses.

Keywords

Banks, profitability, liquidity, financial crisis



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COMPARATIVE ANALYSIS OF THE SOUNDNESS OF BANKING SYSTEMS IN BULGARIA, POLAND,

ROMANIA, SLOVAKIA AND HUNGARY

Anişoara Niculina APETRI Faculty of Economics and Public Administration, Stefan cel Mare

University of Suceva Suceava, Romania

[email protected]

ABSTRACT

Creating a healthy and viable financial system in central and southeastern Europe has been a fundamental aspect of the transition to a market economy. Building such a system has proved very difficult and challenging. After two decades of efforts to strengthen the banking system, today it still faces a number of problems. The combined efforts of governments and international financial institutions aimed at creating a competent administrative system and a sound institutional system that would respond better to new market requirements. In this paper I analyzed the development stage or the financial system in Hungary, Slovakia, Bulgaria, Romania and Poland in particular focusing on the banking system. This study aims to trace and compare the development of banking systems in these five countries.



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MODELING AND FORECASTING THE OPTIONS' VOLATILITY: THE CASE OF CARREFOUR STOCK

OPTIONS

Mircea ASANDULUI Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Options theory, one of the most important domains in finance, has known a very dynamic evolution in the last 30 years. Finding models that explain as better as they can the evolution of options volatility and using these models for forecasting future values represents a particular challenge.

In the present study, we want to analyze the volatility of Carrefour stock options transitioned at NYSE Euronext Stock Exchange Paris, between January 2009 and May 2011.

Based on the analysis of the phenomena, we determine models that describe the evolution of the volatility and with these models we realize forecasts. We used classical models, such as EWMA, but also modern ones represented by heteroscedastic models.

Forecasted values are then compared with the real ones. By calculating the differences that appear, we can determine the forecast errors., on which we identify the models that realize the most accurate forecasts and the models that realize the worst forecasts.

Keywords

Options, volatility, forecast, EWMA, heteroscedastic models..



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THE CONCEPT OF TRUE AND FAIR VIEW IN THE KNOWLEDGE SOCIETY

Ioana BALAN Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Nothing is accidental. Everything is running as designed and implemented as a plan. Mankind has progressed, progresses and will progress only through knowledge. The importance of this process and the amplification of globalization lies in business turbulence, leading inevitably to increasing competition, particularly in saturated markets of products and services. As response to new fields of force generated in the external environment, organizations should not focus on immediately profit but to chose obtaining competitive advantage and transforming it into a strategic advantage. Knowledge is the competitive advantage. It depends how it is accessible and transparent to investors. On the other hand, knowledge is based on the information. Information is the raw material of many decision-making processes. Decision as intellectual product processing of information is given by the quality of information. All these elements compete to provide accurate, true and fair view to investors, a concept that is based around the business world. Quality, transparency and reliability of the information also depend on decisions taken action to invest or to withdraw. Given the current crisis in antithesis with the findings from various areas of activity we believe that this article will fit well in your theme.



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PERSONNEL REWARD PERFORMANCE IN THE HOSPITAL MANAGEMENT SYSTEM

Ana Maria BOBEICA Faculty of Marketing, Academy of Economic Studies

Bucharest, Romania [email protected]

ABSTRACT

This paper analyzes the changing landscape of physician payment, combining the economic literature on incentive contracting with examples of how physicians are paid by insurers and agency theory.

Literature shows the best approach as for” pay for performance incentive” and the combination of financial and non-financial incentives to achieve desired results depends on a number of circumstantial elements. Several incentive schemes that can be used by healthcare insurers or local healthcare authorities are discussed and concrete examples are provided from US and the European Union. The best part of this may be implemented in the Romanian healthcare system. It begins with a brief summary of agency theory and the principles of performance incentives in the context of imperfect information, risk aversion, multiple interrelated tasks, and team production efficiencies.

The discussion then focuses on the specific goals of physician payment, and on the flawed performance of fee-for-service and capitation in motivating physicians to strive for and achieve those goals. It evaluates innovations that blend elements of fee-for-service, capitation and case rates to preserve the advantages and attenuate the disadvantages of each. The paper presents also “pay for performance incentive” and the limitations of the theory.

Finally, the approach regards the sales rewards system with an analysis of the best results from practice and an evaluation incentive schemes for the future of the industry.

Keywords

Reward systems, Incentives, Pay, Performance, capitation, fee-for service, managed care, salary.



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THE ADMINISTRATIVE CAPACITY FOR ENSURING SOCIAL PROTECTION

Irina BOSIE Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Romania is transforming due to the changes brought by the XXI century. These changes have led to new models of governance and traditionalism was replaced by modernism. Traditional models have not resisted the administrative challenges, such as decentralization concepts emerged and administrative capacity. Administrative capacity is reflected in the capability of the administrative state institutions to assure public services of fundamental need like defense, education, health and social protection.

Leaning our attention on the social matter, we disclose the state responsibility of assuring the functionality framework for the social protection system through juridical regulations, fiscal and human resources. The categories of people requiring social protection are the disabled, the unemployed, the elderly and some others special cases falling complementary social protection in case of disability, illness and ultimately death.

The real situation of Romania on social protection is reflected in state budgets and by law thru the budgetary year funds that are allocated for this kind of category. Public expenditure for social security includes the following types of expenditure: allowances, pensions, benefits under certain conditions. Funding for these expenditures is made in the following categories of resources, contributions of wage subsidy budget, special funds (accumulated from donations or resources of NGOs).

The methodology used in research on issues of state social protection was achieved by studying theoretical concepts and literature on resource allocation and by gathering statistical data provided by the World Bank and the state budget law. This article highlights the measures taken by Romanian authorities and gather data of real facts going in the internal structure of the social protection system. Public expenditure on social assistance has many forms in welfare for the elderly, social assistance for people with disabilities,



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medical care for socially assisted persons. Only by allocating special attention to the issues we can conduct a survey in detail for the actions taken by the state.

Keywords

Administrative capacity, social protection, hard budget constraints, public expenditure



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ASPECTS REGARDING THE IMPACT OF THE CURRENT CRISIS ON THE ECONOMIC

PERFORMANCES IN THE TOURISM COMPANIES

Gina Ionela BUTNARU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Luminita Mihaela ION Faculty of Economics and Business Administration, Alexandru Ioan


ABSTRACT

In almost every area of activity that we operate day by day there are concerns regarding issues that may occur within it and, therefore, we study the causes, their mode of occurrence, their manifestations and consequences. The crises are, in fact, such problems. The economists analyze the crisis according to specific criteria, assigning the characteristics to some phenomenon with negative consequences on the economic performances for the companies, organizations, institutions and social groups affected which activate in tourism field.

Keywords

Economic performances, the current crisis and the tourism companies

ACKNOWLEDGEMENTS

This work was co-financed from the European Social Fund through Sectoral Operational Programme Human Resources Development 2007-2013, project number POSDRU/89/1.5/S/59184 „Performance and excellence in postdoctoral research in Romanian economics science domain”



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THE GENERAL AGRICULTURE CENSUS 2011- AN IMPORTANT STEP TOWARDS DEVELOPMENT OF

MOLDOVAN AGRICULTURAL STATISTICS SYSTEM

Oleg CARA Academy of Economic Studies of Moldova

Chisinau, Moldova [email protected]

ABSTRACT

The Republic of Moldova carried out its first General Agricultural Census (GAC) during March 15 to April 15, 2011. Trading off between resources required for the census and the vast data demand was a challenge for the Moldovan census.

Given the political aspiration for European Union’s integration, the country has to align its statistical system to the EU standards and norms. However, the strict adopting of EUROSTAT approach as the national definition for an agricultural holding for census purposes would result in large-scale under-coverage of agricultural land and livestock, as well as inconsistency with the similar information available from the administrative data source.

In order to generate reliable statistics on the small farms which do not produce for the market, but whose production is important for the food security of the households, while ensuring conformity with European standards, census methodology was specifically developed to suit the local needs.

A procedure for tallying the land captured in the census with that in the records of land cadastre was especially developed. A sample survey was introduced to capture information on the plots owned by urban dwellers. A quality survey was also built into the census project.

GAC will constitute a key element of the Integrated System of Agriculture Statistics. Thus, the census data will serve as benchmark for the further development of agriculture and basis for the implementation of an integrated survey framework.



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The paper presents the experience of this census, particularly focusing on efforts to establish a consistent and harmonized system of information on agriculture and rural development.

Keywords

General agricultural census, agricultural statistics system, administrative data sources.



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EFFECTS OF THE CURRENT CRISES ON THE ECONOMY AND GLOBAL TRADE

Gabriela Liliana CIOBAN Stefan cel Mare University of Suceava

Suceava, Romania [email protected]

ABSTRACT

The financial crisis had a severe impact on the real economy of the European Union. Thus, banks have become increasingly resistant to the risk-taking compared to previous years and therefore, companies began to experience difficulties in accessing credit.

To counteract this state of crisis and increasing consumption of goods and services we take into consideration a package of protectionist measures to stimulate economic growth, increasing purchasing power and lower unemployment, also short term investments in infrastructure, energy efficiency and investment in clean technologies.

But whatever measures we take, analysts point out the danger that it presents the resurgence of protectionism for the recovery of the economy and international trade.

Keywords

Financial crisis, economic growth, consumption, short-term investments, energy efficiency.



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THE CONVERGENCE PROCESS IN THE CURENT EUROPEAN AND WORLDWIDE CONTEXT: THE

NECESSITY FOR REASSESSEMNT OF THE SINGLE CURRENCY PROJECT

Elena CIOBANU-SIRETEANU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

We live in a highly uncertain environment which is dominated by numerous tensions, from the sovereign debt crisis encountered in the euro area to the global economy’s blockage on a low rate of growth, although there have been unprecedented efforts to increase speed.

European economic performance has been uneven, particularly recording anaemic growths at the periphery of the euro area, which has caused concern for regional and global stability.

This paper aims to explore Romania’s possibilities through the process of nominal and real convergence for the euro adoption in 2015, according to the current realities: extension of the crisis, falling financial markets, economic stagnation/ fragile increase and finally amending the rules of entering and monitoring in the euro area.



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PERFORMANCE EVALUATION INITIATIVES IN PUBLIC ORGANIZATIONS

Alexandra Ema CIOCLEA Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Performance evaluation plays an important part in improving public service quality and increasing efficiency and accountability in the public sector. One of the most controversial topics in government, New Public Management, recommends performance assessment as a tool for rationalizing public budgeting, promoting better reporting systems and developing internal diagnosis models.

This paper aims to analyze the characteristics of performance evaluation and also to address the impact of different measurement systems when implemented in public organizations. The study is based on review and analysis of academic research, government documents and personal perspectives, extracting and linking key findings from existing research and practice.

The paper argues that managerial theories on performance and specific evaluation systems are appropriate for cultivating the “result-based approach” in public sector organizations.

Keywords

Public management, performance, evaluation, indicators.



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STRUCTURAL AND COHESION FUNDS VERSUS THE IMF LOANS: IMPLICATIONS AND

CHALLENGES FOR THE ROMANIAN FINANCIAL SYSTEM

Vasile COCRIŞ Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Corina BERICA Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Anca Elena NUCU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

The loans given by the International Monetary Fund are intended for the reestablishment of the economical growth conditions, and the irredeemable funds provided by the European Union should contribute to the correction of the economical and social gaps among the EU states using the Structural Instruments. The purpose of this article is to present a SWOT analysis of the implications of the loans obtained by our country from the IMF upon the Romanian financial system in relation to the opportunity of attracting European funds. The critiques consider that the Romanian government has preferred the IMF because the money from the European funds “cannot be embezzled” and has chosen to get the Romanian people into debt. This affirmation is sustained by the austerity conditions imposed by the IMF. In the context of the financial



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assistance offered by the IMF, which determinates a drastic reorientation of the fiscal – budgetary policy, we suggest the raise of the absorption rate of the Structural and Cohesion Funds as possible solution.



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LEADING A BUSINESS IN BECOMING GLOBAL – CASE STUDY ON IKEA

Ioana Cristina COLBU Stefan cel Mare University of Suceava

Suceava, Romania [email protected]

ABSTRACT

In the process of globalisation, companies seek to expand their activity and processes beyond country’s boundaries. In order to met demand and create satisfaction on international markets, companies try to get in contact with as many members of national cultures as possible. The purpose of this paper is to analyse the internationalisation process IKEA had to combine in order to meet multicultural demands. The process of going international had implications on IKEA’s products, price and communication strategies and only by using strong knowledge of interpersonal relations and market research, the company has achieved offering satisfactory product for different culture environments.



37

PROSPECTIVE MANAGEMENT ACCOUNTING AND LIFE-CYCLE COSTING (LCC)

Laura CRETU-RADULESCU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

It is often wrong assumed that forecasts relate strictly to predict and control future results. The real purpose of forecasting is to inform decision-maker on possible future outcomes of present actions. These forecasts are vital for management because a company can never respond to real-time continuous changes in operating environment. Therefore, management accounting should have a prospective orientation that allows to support medium-term and long-term planning, serving general manager and the entire entity in charge of strategy. Over time, management accounting has developed methods for determining the future costs for a time period exceeding a year (the life cycle of a product). One of these methods, which we address in this article, is the life-cycle costing.

Keywords

Prospective management accounting, life-cycle costing.



38

PERCEPTIONS ON THE VALUE OF ONLINE MARKETING INTELLIGENCE

Gabriel CUCUTEANU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Elena Lidia ALEXA Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Marius ALEXA Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

The purpose of this article is to investigate managers’ perceptions on the value of online marketing intelligence and identify the relation between the identified perceptions and different organization traits, and respectively, the different managerial traits.

The research method used was the marketing survey, over the phone, and we collected data from 200 companies in Iasi. This survey is using non probability sampling. Sampling criteria include annual business revenue, number of employees and activity domain.



39

REGIONAL AND INTERNATIONAL CAUSAL LINKAGES. EVIDENCE FROM CEE STOCK

MARKETS.

Delia-Elena DIACONASU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

This aim of this study is to examine the dynamic linkage among several emerging stock markets in Central and Eastern Europe and the regional and international leaders. Since, in the last two decades the extent globalization progresses led to the increasing of co-movements among international equity markets, and default on emerging markets, therefore national stock markets increasingly react to each other, providing potentially rich information on the nature of cross-market interactions. Using daily observations of stock indices during 2000-2011 and the VAR and GARCH family of econometric models, we investigate cross-market causality before and after the financial crisis. Our findings suggest that there exist bigger reaction from Central and Eastern European stock markets to the arrival of price innovations from France and Germany on the long and short run, while within the arrival of price innovations from Austria and Poland is underlined a softer reaction. Further, our test results indicate that the significance of the causality varies considerably over time. Importantly, we find that the causal linkages tend to strengthen particularly at the time of the financial crisis. In addition, the findings provide evidence to indicate that the national market price innovations account for more of the error variance compared to those of Germany, France, Austria and Poland.



40

THE EUROPEAN DIMENSION OF ENTREPRENEURIAL ROMANIAN CULTURE

Maria Irina DROMERESCHI Anghel Saligny Technical College

Bacău, România [email protected]

ABSTRACT

Interaction between culture and economics related to material prosperity of a country, region and the specific social and political institutions. If formal institutions are ineffective, social capital and trust their substitute to maintain social cohesion. Some components of individualism / collectivism facilitate economic development, others prevent and weaknesses are more visible when formal institutions are less developed / evolved. Currently in Romania, the culture of entrepreneurship is especially crystallizes within private companies, founded by the creation of free market mechanisms in Romania. From these viewpoints, institutional and demographic characteristics, entrepreneurial culture and economic wellbeing of a country emerging entrepreneurial characteristics.

Keywords

National culture, entrepreneurial culture, the cultural dimension.



41

OECONOMICUS VS. ACADEMICUS – DIACHRONIC PERSPECTIVE OF THE

RELATIONSHIP BETWEEN KONDRATIEFF’S CYCLES AND STRUCTURAL REFORM OF HIGHER

EDUCATION

Constantin HĂLĂNGESCU Alexandru Ioan Cuza University of Iasi

Iaşi, Romania [email protected]

ABSTRACT

The purpose of this article is to present, in a general, non exhaustive manner, a diachronic relationship between the macroeconomic phenomenology of Kondratieff cycles and higher education –targeted reforms. Historical evidence presented by the speciality literature show that these reforms have occured in Kondratieff cycles’ decline stages, subsumed to the socio-economic phenomena characteristic to each of these. Adhering to the idea of crossing through the fifth cycle, the second part of the article launches a problem that could be discussed in extenso in subsequent research, namely: given the quasi-structural reforms in higher education systems (regionally polarized into the U.S.A.-Europe-Asia/Pacific triangle), are we passing through a cyclical phase of global upswing, in the academicus vs. oeconomicus debate from the financial-economic crisis marked beggining of this millennium? Could globalization through internationalization and higher education massification be considered kondratieffian’s current „long wave” paradigms?

On the other hand, the article aims to present one sui generis point of view about the dilemmas and paradoxes between the oeconomicus and academicus models which I consider inherent into a higher education’s biography in a globalized world. Developed from hypothesis to conclusion, the assertion that homo academicus is deeply involved in mundus academicus, while homo oeconomicus stimulates in a global manner the whole mundus academicus, generates various approaches in which the economic and the academic either mingle or dissociate, but the conjunction or disjunction cases unavoidably lead to outlining the postulate that no architecture on a world academic map is built without „Development through Innovation and



42

Innovation through Education” and that leads to an absolutely justified interrogation in the globalized present: Will homo academicus be able to adapt to the values of homo oeconomicus, sell its know-how and produce conveniently?



43

ECONOMIC CRISES AND INSTITUTIONAL PERFORMANCE IN EU COUNTRIES

Roxana Maria IACOB-GRECU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

The economic actors, like credit banks and financial institutions, through their financial policy generate a high level of disequilibrium to the macroeconomic sector. In this meaning, we can underline a negative aspect of financial policies which amplify the current level of economic depression. To the normative level we can observe a strong negative correlation between economic crises and institutional performance, this fact being demonstrated by the contemporary economic situation from EU countries and, also, by the empirical and statistical macroeconomic indicators like GDP, inflation deflator, labour market etc. This paper tries to create a general view under macroeconomic policies for economic crises management and their impact in the sphere of economic institutions. The main objective of this research is to create an exploratory design of statistical and macro economical indicators and the performance of economic institutions. Another theoretical objective is to underline the impact of credit banks or other financial institutions in amplifying the level of micro and macro economic disequilibrium. The irrational credits associated with an interested economic policy could generate negatives externalities in various places of the financial and economic markets. This paper is based on a comparative case study among some relevant economic markets from EU countries.

Keywords

Economic crises, disequilibrium, economic institutions, negative externalities, credits, financial markets.



44

BISMARCK OR BEVERIDGE? EUROPEAN HEALTHCARE SYSTEMS IN A COMPARATIVE

PERSPECTIVE

Andreea IACOBUŢĂ Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Sorin Gabriel ANTON Faculty of Economics and Business Administration, Alexandru Ioan


ABSTRACT

This paper takes a comparative approach in order to analyze the characteristics and performance of several European healthcare systems which follow the patterns of one of the two main models namely, Bismarck and Beveridge.



45

CORPORATE REPUTATION AND THE PHARMACEUTICAL MARKET IN THE CONTEXT

OF WORLD CRISIS

Luminita Mihaela ION Faculty of Economics and Business Administration, Alexandru Ioan


Gina Ionela BUTNARU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Every day, all around us, we witness the war for the consumer’s mind. The deployment of the resources and efforts is remarkable: entire armies of people do that, with expenses amounted to hundreds of million to billion of euro per year. Who has a place in the mind of others won everything may want: attention, partners, supporters, clients, employees and profitability in the market place. Thus, in this paper we intend to approach corporate reputation, as a success factor of the companies from the pharmaceutical market in the context of the current crisis.

Keywords

Corporate reputation, economic crisis.



46

SOCIAL RESPONSIBILITY - VALENCE OF THE NON-ECONOMIC PERFORMANCE

Bogdan IONASCU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Social responsibility became a theme which attracted the attention of all the investors, as a reaction to the globalization process and the international financial crisis.

The pressure of the financial markets pushed the companies to publish higher profits than the real ones. Although the financial results were first validated by the auditors, a huge lack of trust spread on the market. These are the reasons why the investors became more sensitive to value creation and ethical values. The new financial growth of the company involves trust, real financial results and social responsibility.



47

ECONOMIC VALUE ADDED VS THE TRADITIONAL ACCOUNTING MEASURES OF

PERFORMANCE - THE EFFECT ON SHAREHOLDER VALUE

Bogdan IONASCU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

The traditional accounting measures, such as Earning per share, Return on assets, Return on equity, have been replaced in the last years by the new measures of performance like Economic Value Added and Market Value Added.

Although many arguments have been raised in favour of EVA, mainly from the Stern Stewart Consulting Company, a lot of researchers have criticised EVA, and raised arguments in favour of the traditional accountig measures of performance. The views are shared because there are studies which indicates that EVA has stronger explanatory power of market value than the traditional accounting measures, and also studies which show the opposite.

The resolution is that EVA and other accounting measures should be used togheter to promote better performance measures in the benefit of the shareholders.



48

A BROADER LOOK ON MIGRATION: A TWO WAY INTERACTION BETWEEN ECONOMIC

PERFORMANCE AND MIGRATION IN THE ORIGIN COUNTRY

Cristian ÎNCALTARAU Faculty of Economics and Business Administration, Alexandru Ioan


Sorin-Stefan MAHA Faculty of Economics and Business Administration, Alexandru Ioan


Liviu-George MAHA Faculty of Economics and Business Administration, Alexandru Ioan

Cuza University of Iasi Iaşi, Romania [email protected]

ABSTRACT

Most studies on migration are limited to economic impact of migration. But this is only one side of the coin. The other side is given by the influence of economic performance on migration. The demographic transition process involved by development has a significant impact on migration. The new migration theories considers migration as an including process of the broader transformation processes (social, economic, political) of development. Development leads by itself to migration, first internally and then externally. Although not sufficient, internal and external mobility are indispensible for development. Thus, an overview of migration within the more complex process of development is essential, capturing the mutual influence between migration and economic performance.



49

DOES DEVELOPMENT AID STIMULATE A PROGRESS IN ACHIEVEMENT

OF MILLENNIUM DEVELOPMENT GOALS?

Veronika KAJUROVÁ Department of Finance, Faculty of Economics and Administration,

Masaryk University, Brno, Czech Republic [email protected]

Daniel STAVÁREK Department of Finance, School of Business Administration, Silesian

University Karviná, Czech Republic

[email protected]

ABSTRACT

This paper focuses on the joint effort of the development organizations and countries in reaching the Millennium Development Goals. The aim of the paper is to find out whether received volume of the official development aid is positively reflected in a progress of achieving selected Millennium Development Goals and other important indicators of economic development. The estimation results suggest that in most cases volume of the official development aid is weakly related to real development as measured by MDGs. However, the positive effects of development aid can be seen also in integration of a country into extensive development strategy.

Keywords

Millennium development goals, development, development aid.



50

ENDOGENOUS INSTITUTIONAL CHANGE WITH ENDOGENOUS INTEREST GROUPS

Karim KHAN Department of Economics, University of Siena

Siena, Italy [email protected].

ABSTRACT

Given the importance of institutions in the underlying growth and development process, the interests in explaining cross-country variations in institutional frameworks have been increasing enormously in recent days. This study is the continuation of this ongoing debate and explores the rent-seeking fundamentals of institutions. An endeavor is made to explain the manner in which the rent-seeking behavior of the state actors results in the inefficiency of institutional framework. The main focus is on the rents provided by the availability of natural resources wealth, foreign aid or corruption potential. By providing a framework, where rulers, Agency and the citizens act endogenously, we show that the rents from these resources can be a significant constraint to institutional reforms. In order to come out of the bad institutions trap, the society needs to offer a substantial amount of incentives to the privileged groups or groups with the high bargaining power. The two privileged groups which are focused on in the study are the rulers and their Agents because in most of societies these two have the highest bargaining power in the negotiations over the rules and institutions.

Keywords

Institutional reforms, natural resources wealth, foreign aid, corruption potential, rulers, Agency.



51

CONTROVERSIES REGARDING THE UTILIZATION OF ALTMAN MODEL IN ROMANIA

Dan LUPU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Altman model was built for U.S. companies, based on the characteristics of that economy. While there is no reason why this model can be applied to companies in the whole world, we recognize that each has its own peculiarities economic environment, therefore, local models forecast could be better than American models, at least in their testing phase. But the utilization of Altman model is suitable for the Romanian economy? Taking this into account, the purpose of this paper is to test the Altman model on the Romanian market.



52

THEORETICAL CONTROVERSY ON STRATEGIC TRADE POLICY

Liviu-George MAHA Faculty of Economics and Business Administration, Alexandru Ioan

Cuza University of Iasi Iaşi, Romania [email protected]

Sorin-Stefan MAHA Faculty of Economics and Business Administration, Alexandru Ioan


Cristian ÎNCALTARAU Faculty of Economics and Business Administration, Alexandru Ioan


ABSTRACT

This paper aims to examine the theoretical debates determined by the concept of strategic trade policy, two papers by Spencer and Brander (1983 and 1985) being often cited as having critical contributions to strategic trade policy. Also, there is an important number of studies which highlights some problematic issues regarding the strategic trade theory (policy). We can mention Horstmann and Markusen (1986), who focus on assumptions regarding production technology, Dixit and Kyle (1985), who argue that “it is important to consider the question of who is behaving strategically with respect to whom”, or the idea that people may own stock in both domestic and foreign firms, thus the notion "domestic firm" being less meaningful in a world of international capital movements etc.



53

ASPECTS REGARDING ENVIRONMENT PROTECTION IN PUBLIC ACQUISITION

PROCESSES

Ioana Livia MANEA Faculty of Economics and Business Administration, Alexandru Ioan


[email protected] Anda OBOROCEANU - POPA

Faculty of Economics and Business Administration, Alexandru Ioan Cuza University of Iasi

Iaşi, Romania [email protected]

ABSTRACT

In order to achieve successfully the integration of the requirements related to the protection of the environment in public acquisition processes – it is necessary that the contracting authority has a clear and well determined strategy, being based on “value for money principle”. It must note that obtaining the lowest price does not represent the grounds of the acquisition strategy. The concept is defined as being the optimum combination between the costs of the entire life cycle (and more exactly the integration on the acquisition decision of all the costs which will appear during the lifetime of a product or service) and quality in order to accomplish all the user’s requirements..

“The acquisitions with elements of environment protection” represents nowadays a current and recognized practice, fact demonstrated also by the existence on the market of more and more products and services labeled as having positive effects on the environment.

Keywords

Protection of the environment, public aquisition, contracting authority, acquisition strategy, life cycle.



54

TRADE RELATIONS - THE MAIN TOOL TO STRENGTHEN COOPERATION BETWEEN THE EU

AND ITS EASTERN EUROPEAN NEIGHBORS

Teodor Lucian MOGA Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Economic unification across Europe has been the main impetus for the European integration process and this rationale stood also behind the EU’s approach towards its neighbourhood. Since the launch of the European Neighbourhood Policy (2004), the economic incentives have been the most effective instruments for generating structural change in the neighbourhood, taking into account the fact that EU membership has not been yet considered. My research will aim at investigating the potential of the European Union to promote economic cooperation in its Eastern vicinity by seeking to include the Eastern Partnership (EaP) states into a network that shares the same economic principles and values. Among these values, I argue that deep economic engagement through bilateral and multilateral frameworks of trade relations has played a major in enhancing the economic development of the six-Post Soviet states: Ukraine, Moldova, Belarus, Azerbaijan, Georgia and Armenia.



55

A CONCEPTUAL MODEL FOR THE USE OF SOCIAL MEDIA IN COMPANIES

George-Cristian NISTOR Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Social media is currently an evolving “wave” in online business marketing. Marketers are beginning to drive the use of social media as a component in their marketing strategy and campaigns to reach out to customers and fans. Within the subdisciplines of marketing that may use social media include promotions, marketing intelligence, sentiments research, public relations, marketing communications and product and customer management. This paper will try to find a conceptual model to examine people’s behavior, model based on the the Theory of Reason Action (TRA) and the Technology Acceptance Model (TAM).

Keywords

Social media, Social networks, Social influence, Technology acceptance model, perceived ease of use, perceived usefulness.



56

HUMAN RESOURCES ENGAGED IN AGRICULTURE AND RURAL AREAS OF

ROMANIA- COMPETITIVENESS FACTOR OR CONSTRAINT FOR DEVELOPMENT?

Ramona-Elena OBREJA Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Technological revolution led to the development and expansion at a global scale of the use of information and communication technologies, but in the same time put its mark on all sectors of economic life, changing considerably the relations between determinants of the development. No doubt, they have also changed the proportion and role of growth factors in the agricultural sector and in the rural areas.

In the global knowledge economy, competitiveness main factor is the "knowledge" and, therefore, the human being, as the bearer of knowledge, should be a key resource of the development. This paper examines how the human resources involved in agriculture and rural areas of Romania are competitive factors for development of agriculture and rural development, the policy and strategic lines of economic development that aim to increase the quality of this development determinant.

Keywords

Human capital, knowledge agricultural workers, skills, training and education, Operational Programme- Human Resources Development



57

THE OPTIMIZATION OF TAXATION ACCOUNTING REPORT

Laurentiu ONOSE Faculty of Economics and Business Administration, Alexandru Ioan


ABSTRACT

The link between accounting and taxation differ between EU Member States. Thus, if in the past the accounting tended to be dependent on taxation, today there are three types of relations between the two areas: independent or mild dependent (as in Denmark and the Netherlands), depending of the taxation by accounting, as happens in most countries (Austria, Belgium, Germany, France, Italy, Spain and UK) and the dependence of accounting by taxation, as in Greece.



58

THE IMPACT OF FINANCIAL CRISIS ON NONPERFORMING LOANS (NPLs) IN CENTRAL AND EASTERN EUROPEAN BANKING SECTORS

Maria POPESCU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

In this paper we analyze the impact of financial crisis on nonperforming loans (NPLs) in Central and Eastern European banking sectors for the period 2001 – 2009 using dynamic panel data. The study is motivated by the hypothesis that both macroeconomic and bank – specific variables have an effect on loan quality and that these effects vary between different types of banks. The results show that NPLs in the CEE banking system can be explained mainly by macroeconomic characteristics (GDP, inflation rate, interest rates) and bank-specific factors (management quality, structure of capital, liquidity and assets quality indicators).

Keywords

Banks, NPLs, financial crisis, banking performance.



59

AN ANALYSIS ON THE EXCHANGE RATE AND GOVERNMENTAL DEBT

Carmen SANDU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

In the present paper, we try to illustrate the exchange rate implications on governmental debt during the global financial downturn. Our analysis focuses on the European Union members in the 2006-2009 period. Debt denomination is important in assuring the necessary conditions for a normal reimbursement and for financial market stability. After studying the European financial market, we conclude that governmental debt denominated in foreign currency should be limited and replaced, as possible, with an adequate internal infrastructure to cover cash requirements of national authorities.

Keywords

Exchange rate, governmental debt, currency risk, financial crisis.



60

IMPACT OF CURRENT CRISIS ON STATE POLICY TOWARDS CAPITAL OUTFLOW FROM BRIC

COUNTRIES

Olga SHISHKINA Saint-Petersburg State University, Faculty of Economics

Saint-Petersburg, Russia [email protected]

ABSTRACT

In this paper we consider issues, connected with Brazil, Russia, India and China as capital exporters. We analyse influence of current economic crisis on foreign direct investment outflows, taking into account investment development path of the BRICs, amounts and destinations, which encourage them to internationalize. In the second part of the research there is an overview of state policy towards outward FDI, and changes, introduced to it because of the crisis.

Keywords

Foreign direct investment, state regulation, capital outflow, Brazil, Russia, India, China, world economic crisis, governmental policy, liberalization of investment



61

UBIQUITOUS WEB TECHNOLOGIES AND APPLICATIONS

Napoleon-Alexandru SIRETEANU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

The complexity of information systems has led the communities to find new ways of designing and managing networks, systems and services. Our world has become overwhelmed with portable video devices, smart phones, mobile TVs, personal media players, and video surveillance sensors. In the present day, we observe the proliferation of the Social Web and the Mobile Web, which will lead to a Ubiquitous Web, whose applications will provide relevant information and services to users anywhere and anytime. The integration of the different kinds of data, the aggregation and the extraction of useful knowledge and its representation has become an important issue for Web 2.0 and Semantic Web.

Keywords

Ubiquitous Web, Web 2.0, Mobile devices, Semantic Web, Knowledge.



62

INTERRATER RELIABILITY TESTING FOR MULTIPLE RESPONSE ITEMS

Sinziana Ioana SPIRIDON Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Oana Catalina VICOL Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

The qualitative research and its techniques have always been known as having a higher degree of subjectivity than the quantitative ones. This is the main reason for which developing reliability tests is a major subject of interest in this field. One of the themes approached is the interrater reliability testing which has the purpose of verifying the accuracy of classifying collected data in pre-defined categories. The present paper presents the main interrater reliability tests developed and used in qualitative research analysing their specific characteristics and the improvements.

Keywords

Interrater reliability tests, multiple response.



63

A PRACTICAL APPROACH ON MAKING USE OF CASE STUDY RESEARCH IN ECONOMICS

Codrin-Marius TEIU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Daniel JURAVLE Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

This paper is assessing the intake that case study as a research strategy drives forward research in economics area. Development in research in economics field in the last decade together with the growth of information and communication technologies led to an internationalization of education. The first section of the paper defines and compares different types of case study research with other research strategies. The next two sections of the paper are of applicative nature: one of them explains how to build a case study research holistic design that can be used for researching on the dynamics of population migration phenomenon and the other explains how a case study embedded design is used to build a framework guiding decision making on software procurement.

Keywords

Research strategies, case study types, holistic design, embedded design, global learning.



64

THE INTERACTION BETWEEN FORMAL AND INFORMAL INSTITUTIONS IN THE PROCESS OF

ECONOMIC DEVELOPMENT

Amalia TOMA Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Explaining the differences of economic development between countries through institutional arguments became almost natural over the last decade, since other factors and theories failed partially or totally to provide the right answer.

This paper proposes to make a short review of the importance of institutions for development and further investigate the interaction between formal and informal institutions in the process of institutional transplant, since this operation was seen as a facile way of achieving development by importing institutions that proved to be successful for the developed countries.

Keywords

Formal and informal institutions, economic development, good institutions, institutional transplant.



65

THE IMPACT OF THE POLITICAL BUSINESS CYCLE IN THE EMERGENT ECONOMIES

Claudiu ŢIGANAŞ Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Claudiu PEPTINE Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

This paper discusses the background of what constitutes a political business cycle and some of the models that have been developed. The first and classic PBC theory was developed by William Nordhaus in 1975. After Nordhaus’s research, many other theories were developed and this paper examines a couple of these. For each theory, the conclusions of the model are presented. Finally, conclusions are drawn about the validity of particular theories from literature on political business cycles.

Keywords

Business cycle, emergent economies, institutions.



66

THE ROLE OF MONEY MARKET FUNDS IN THE GLOBAL FINANCIAL CRISIS AND IMPLICATIONS

FOR THE REGULATORY REFORM

Silviu URSU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Money Market Funds (MMFs) are important investment vehicles in financial markets and a relevant part of the credit intermediation chain.

The paper reviews MMF’s characteristics and their regulatory frameworks in different financial markets as potential causes of the global financial crisis, and discusses also recent national and international regulatory initiatives to reduce MMF’s vulnerability to runs and other systemic risks. A special focus is on the appropriateness of their treatment by the Financial Stability Board as a relevant part of the shadow banking system and its impact at regulatory level, through shifts in the Net Asset Value arrangements, new liquidity and capital requirements or other possible approaches.

Keywords

Money market fund, regulatory reform, global financial crisis, shadow banking system.

ACKNOWLEDGEMENTS

This work was financed by the project "Post-Doctoral Studies in Economics: training program for elite researchers - SPODE", co-funded from the European Social Fund through the Development of Human Resources Operational Programme 2007-2013, contract no. POSDRU/89/1.5/S/61755.



67

AN ANALYSE OF BUCHAREST STOCK EXCHANGE MARKET PERFORMANCE USING

CROSS SECTIONAL DISTRIBUTION OF PER

Andreea VASILIU Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Neculai TABARA Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

Considering the current economic environment, the market difficulties, it is important to know in each moment the value of the firms listed on the stock exchange market. There are numerous methods used to evaluate capital and entities in a whole. For this research we have selected multiples method also known as relative method. The essence of this methodology depends critically on two components: the multiple that is used and the comparable that are chosen. The multiple selected is price earnings ratio. This study aims at establishing what is the impact of the financial crisis on the value of the entities quoted on Bucharest Stock Exchange Market. We have a sample of 25 companies, all the companies listed in the BVB section, category 1. For all of these 25 companies we have analised the financial data for the fiscal years 2008, 2009, 2010. This study has allowed to know how multiples vary across sector in order to identify which companies are under or over valuated. In the same time it has allowed to identify which sector had the largest decrease during the financial crisis. In order to analyse the impact of the financial crisis on the business values we made a compative analysis on the three fiscal years taken into consideration, using PER values. The results were obtained using cross sectional distribution , standard statistics such as: average, standard deviation, median, percentile values and the data available on bvb.ro. By conducting this study we have noticed that not all of the companies had the same reaction durig the financial



68

crisis and that variation of PE ratio and equity value depends also on the sector. Further studies on the subject refer to explain the variation in PE ratio on Bucharest Stock Exchange Market by using performance measures obtained from traditional financial statement analysis.



69

SCALE TYPES, ANALYSIS METHODS AND STATISTICAL PROCEDURES USED TO MEASURE

DESTINATION IMAGE

Oana Catalina VICOL, Sinziana SPIRIDON Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

It is commonly accepted and empirically demonstrated that destination image is an important factor which influence tourist’s behaviour, marketing decisions and destination strategies development. Even if the measurement of destination image construct has become in the last forty years a popular subject in tourism literature, until now there is no commonly agreed, comprehensive and complete conceptualization and no reliable and validated scale that can be used.

This paper aims to present a critical evaluation on scale types and analysis methods used until now in destination image literature. A large body of studies was reviewed and the paper focuses on attributes used to measure the destination image construct, multi-dimensional scales developed, analysis methods and different statistical procedures used.

Keywords

Destination image, scales, analysis methods, statistical procedures.



70

CYCLICAL NATURE OF ECONOMIC PROCESS. LESSONS FOR TODAY AND TOMORROW

Ana Iolanda VODĂ Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

Cătălin CHIRIAC Faculty of Economics and Business Administration, Alexandru Ioan


[email protected]

ABSTRACT

This paper examines the impact of economic business cycles focusing on emerging and developed economies, specific issues, mostly regarding the Romanian case.

The recent crises has revealed two important moments: one of truth, meaning that many economies are still fragile and unprepared for the huge and deceiving role of an economic crisis and Romania makes no exception. Second, a moment of concession, where we try to put all pieces of a huge broken puzzle together, arranging and rearranging the fundamental institution, in order to find new solutions and our path (and a path of our own).

There are different approaches for analyzing business cycles phenomena. In this paper we will focus on three macroeconomic variables: growth in GDP, employment and industrial production.

Keywords

Business cycle, economic crisis, emerging economies. ”



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Special thanks to our sponsors:

• Farma-Rod S.R.L. • Alumni University Alexandru Ioan Cuza of

Iasi Foundation

Documents

carte abstract program2 - UAIC · Sorin-Stefan MAHA Liviu-George MAHA Discussant: Presenter of paper no. 1 3. THE EUROPEAN DIMENSION OF ENTREPRENEURIAL ... Laurentiu ONOSE Discussant: