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Operational Risk Disclosures in Hungarian Commercial Banks

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• Professor, PhD. Dãnu Tiberius Epure, Rector, “Ovidius” University of Constanta,
Romania
• Professor, PhD. Elena Cerasela Sptariu, Dean, Faculty of Economic Sciences,
“Ovidius” University of Constanta, Romania
MEMBERS:
• Professor, PhD. Paolo Andrei, Università degli Studi di Parma, Italy;
• Professor, PhD. Stefano Azzali, Università degli Studi di Parma, Italy;
• Professor, PhD. Grigore Belostecinic, ASEM Chiinãu, Republic of Moldova;
• Professor, PhD. Maurice Chenevoy, l’Institute Universitaire Profesionalise,
Universite D’Auvergne, Clermont 1, Clermont–Ferrand, France;
• Professor, PhD. Jacky Mathonnat, L’Universite D’Auvergne, Clermont1,
Clermont–Ferrand, France;
• Professor, PhD. Ionel Bostan, Faculty of Economic Sciences and Public
Administration, “Stefan cel Mare” University of Suceava, Romania;
• Professor, PhD. Viorel Cornescu, University of Bucharest, Romania;
• Professor, PhD. Victor Ploae, Vice-Rector, “Ovidius” University of Constanta,
Romania;
• Associate Professor, PhD. Costel Nistor, Faculty of Economic Sciences, “Dunãrea
de Jos” University of Galati, Romania
vi
• Professor, PhD. Ion Botescu, Faculty of Economic Sciences, “Ovidius” University
of Constanta, Romania;
University of Constanta, Romania;
“Ovidius” University of Constanta, Romania;
• Associate Professor, PhD. Ramona Gruescu, Faculty of Economics and Business
Administration, University of Craiova, Romania;
• Associate Professor, PhD. Marian Ionel, Faculty of Economic Sciences, “Ovidius”
University of Constanta, Romania;
“Ovidius” University of Constanta, Romania;
• Lecturer, PhD. Student Victor Jeflea, Faculty of Economic Sciences, “Ovidius”
University of Constanta, Romania.
• Lecturer, PhD. Cristina Duhnea, Faculty of Economic Sciences, “Ovidius”
University of Constanta, Romania;
University of Constanta, Romania;
University of Constanta, Romania.
“Ovidius” University of Constanta, Romania;
• Lecturer, PhD. Ctlin Ploae, Faculty of Economic Sciences, “Ovidius” University
of Constanta, Romania;
• Lecturer, PhD. Student Ionu Antohi, Faculty of Economic Sciences, “Ovidius”
University of Constanta, Romania;
• Teaching Assistant, PhD. Student Dorinela Nancu, Faculty of Economic Sciences,
“Ovidius” University of Constanta, Romania;
vii
T A B L E O F C O N T E N T S
Section I: International Affairs and European Integration
Subsection: International Affairs
Indicators on Migration in Europe
2
Globalization
13
Policy
19
5. Culita Gica Gherghina - China and her Influence on the New
World Order in the Context of the Nuclear
Threats of North Coreea
Popa Catalin
Shipping
29
Nistor Filip
Determinative Factors within Globalization
8. Halep Maria - Reducing Public Debt in the Aftermath of
the Financial Crisis: Renewing with
Financial Repression
Challenges Lying Ahead in the Aftermath
of the Financial Crisis
Multilateral Trading System
Medical Tourism Developing and Support
55
12. Lupu Iulia , Criste Adina - In the Spotlight of the Financial
Globalization
59
Direct Investment During The Current
Crisis Period
69
15. Popa George Dorel - Figures of Speech in Legal Rhetoric 74
16. Popa George Dorel - Local Police in Romania 78
viii
Economy and Foreign Investment
18. Popa Suzana - The Theories of the Comparative and the
Competitive Advantages in the
19. Sveanu Cristina - The Effects of Risk Events on the
Efficiency of Financial Market
Financial Rules Changed?
21. Utureanu Simona-Luize - Strategy of Competitive Forces in the Air
Transport
101
Analysis Romania-European Union
1. Andrie Andreea - Challenges for ECB's Monetary Policy in the
Post-Crisis Period
3. Anechitoae Constantin,
4. Aptchioae Adina - European Financial Integration and the Recent
Crisis
126
6. Bdoiu Mihaela
Cohesion Policy
Services and Capital
8. Brasoveanu Florica - The Role of the Approval Procedure of
Economic and Social Activities with
Environmental Impact
148
9. Bucur Iulia Andreea - On the Economic Development of Romania as a
Member of EU in the Frame of the Global
Economic Crisis
Cheap Workforce Transfer
11. Carp Lenuta - FDI Impact on CEECs Development under the
EU integration
Funds, 2007-2013
Percent in Romania and in the European Union
175
14. Criste Adina, Lupu Iulia - The European Project beyond the Financial Crisis 179
15. Damian Monica - Challenges of the National Bank of Romania’s
Monetary Policy on the Road to Euro Area
184
under the Current Evolution of the Global
Economy. Aspects Regarding The New Member
States.
190
17. Ghita Simona - An Analysis of the Energy Efficiency of the EU
Economy in the Context of Sustainable
Development
195
Commercial Banks
of the Global Crisis: the Case of the New EU
Member Countries
of Europe
European Economies with the Euro Area
215
220
Member States
Economic Competitiveness
232
25. Nedelcu Monica Letitia - The Liquidity of the Financial System and the
Sovereign Debt Crisis in Europe – Is There a
Solution?
238
26. Neguri Octav - The Effects of Creating the European Union
Bank, on the Banking System in Romania
244
28. Piuan Robert - Mihail Manoilescu, a Professor of the
Polythechnic School of Bucharest
European Union
Microfinance Market
31. Sandu Ioana - Moldova in the Eastern Partnership: Free Trade
Attempts, Asymmetric Benefits
European Economic Relations
Stakeholders
281
from Baia Mare
Economic Development-Environment- Tourism
Competition: A Theoretical Overview
6. Dridea Catrinel Raluca - The Perspectives of Leisure Tourism in
Romania Based on Mountain Tourism
Infrastructure and Services
7. Epure Marcel - A Cultural Explanation For Japan’s Economic
Performance, from the view Point of The General
Power Theory
10/1995 Regarding the Quality in Constructions
317
Relations and Professional Training in the Field
of Constructions
325
xi
Products and Electricity in Central and Eastern
European Countries
Inclusive Economy?
Environmental Factor “the Water” in the Area of
Romanian Black Sea Coast
Reality
347
the Development of International Education
System
353
359
Development
365
18. Stignei Veronica Paa - Mathematical Analysis of the Incidence of Local
Government Investments on Economic Growth in
the Constanta county
Section II: Business Economy and Administration
Subsection: Economy and Economic Informatics
1. Aivaz Kamer Ainur - Aspects of Romanian Education during 1990-
2011, by the Principal Component Analysis
383
Regarding a Certain Cosmological Model
through Statistical Methods
Governance
395
5. Asalos Nicoleta, Trandafir
Poles in Romania and the Chances of Succcess
of This Process
6. Asavoaei Alexandru - Keynesian Realism and the Present State of
Economic Science
7. Avram Costin Daniel - The Balance between Flexibility and Security
in the Labor Market in Romania
415
Business
419
10. Carstea Claudia - Optimization Techniques in Project Controlling 428
11. Cherbeleata Iuliana,
Acquisitions
433
Crisis?
437
Networks for Predictions
Universities
450
15. Cosma Emil - Events and Macros in Microsoft Access 2013 455
16. Cosma Sorinel - Weber and Mises: Views on Bureaucracy 461
17. Cosma Sorinel - Leon Walras and Social Justice 467
18. Cristian Elena Raluca,
Context
473
the Firm
21. Gheorghiu Gabriela,
Fronea Ciprian Mihail,
Monopoly as Market Failures and Their
Implications for the Consumer
22. Gheorghiu Gabriela - Information Assymetries as the Main Source of
Market Failure Affecting the Consumer
494
Development at World and European Level
500
Financial Performance of the Firm
504
Constanta County Area
Market
513
in the Emerging Countries
Instability in the Emerging Countries
523
29. Jeflea Victor Florin - Ways of Classifying Banking Customers Using
Fuzzy and Crisp Algorithms
Attracting Banking Sector Customers
Systems in Trade Organizations
the Benefits and Risks of Cloud Computing in E-
Commerce
541
34. Lupsa-Tataru Dana
Investments Dynamics
laboratories
559
An Analysis Based on Economic Literature
563
Management within NGOs
the Young Graduates of Higher Education
Institutions
573
Knowledge Collected for the Enterprise
579
Education
584
Competitiveness
589
xiv
Economy
595
Educational Materials
Contemporary Era
611
47. Pop Stanca Alexandra - A Parallel between Socialism and Cooperatism 616
48. Popa Florina - The Role and Importance of Services in
National Economy
Prototype Intended for Accounting in Forestry
Entities
626
51. Robu Maximilian Iosif - Implementing Cloud Computing Based
Information Systems
Potential of Trade Enterprises of the System of
Consumer’s Cooperative Society of Ukraine
642
53. Sîrghi Nicoleta - The Evolutionary Perspective of the Firm 648
54. Stanica Nicolae Cristian - Multi-Scale Integrated Analysis of Socio-
Economic Systems
the Analysis of Deviations in the Use of the
Standard Cost Method
and Romania
57. Vduva Cecilia Elena - Export Credits Insurance in the International
Practice
667
Contemporary World Economy
Review
679
Objective of Public Organization in
Management
685
Romanian Retail
based on Information Technologies
Segmentation Theory in Transport Networks
702
Romania
707
in Health Organization
8. Boldureanu Daniel - Quality Indicators Used in the Analysis of
Health Managerial Performance
9. Borovykov Oleksandr - The Experience of Activity of National Service
of Mediation and Reconciliation of Ukraine
720
studies
726
Success of an Entrepreneur
13. Ciobanica Mihaela-
Hervis S.A. During the Crisis
741
CN Romanian Post
Farmers in Organic Farming
effects in SC Cupidon SA from Saturn Resort
and their Impact on the Organization
Competitiveness
757
Romania
763
xvi
18. Dinu Gabriel - Models of Voter Bahavior 768
19. Dinu Loredana - A Study Regarding the Tourism of the Area
Iron Gates
North East Region during the current Crisis
776
Applications in Modern Organizations
23. Grigorescu Adriana,
Lupu Maria - Magdalena
2013
796
in the Development of Personal Brand
Marketing Strategies in the Virtual Environment
800
806
Development
810
Approaches of Human Factor at Next
Automobile Company
the Economic Crisis
and Expoatation in European Countries
compared to the U.S. Sitoation
825
Exploration/Exploitation in Romania
the Formation of a Competitive Wage System in
Consumer Cooperative of Ukraine
837
33. Leon Ramona - Diana - A Managerial Early Warning System for the
Sustainable Knowledge Based Organization
the Romanian Labor Market in the Current
Economic and Social Context
xvii
Implementing the Quality Management Systems
within the Romanian Organizations
System
868
39. Morozan Cristian, Enache
Marketing
880
41. Munteanu Valentina - Special Features Of The Human Resources In
The Field Of Commercial Companies
889
43. Nica Panaite, Leon
Sustainable Knowledge Based Organization
Models
904
and Companies to Maintain Profitability in the
Internet Business during the Economic Crisis in
Romania
908
Intellectual Capital
Tiberius, Tileag Cosmin
Enterprise
917
Economic Crisis
Tourism Services in Romania between 2008-
2011
929
50. Oncioiu Ionica - An Empirical Study of Consumer Behavior in
the Cuban Mobile Phone Market
935
Decision Making
Higher Education Services. Points of
Convergence to Performance
55. Preda Costel - Methods and Techniques to Motivate Human
Resources in NFA ROMSILVA
Management in the NFA ROMSILVA
969
Human Potential In Terms Of The
Competitiveness Of Enterprises Of Consumer
Cooperatives In Ukraine
Satisfaction for Staff to Aviation Companies
978
Comunication on Pharmaceutical Market in
Romania and European Union
Strategy
995
Organizations
999
the Trade Activity
Public Sector
Development of Trade in Ukraine
1014
66. Sudacevschi Mihaela - Issues of Marketing Strategies in the Banking
Industry
1018
67. Tnase Gabriela Lidia - The Budgets’ Role in the Audit of Economic
Entities
1023
Economy
1029
Efficiency of Human Resources
System
1039
71. Voicu-Dorobantu Roxana - Eco-Innovation in SMEs – a Draft Tool for
Improvement
1045
72. Yurko Igor - Application of the Workshop Method as a
Solution for a Regional Program of the Retail
Entrepreneurship Development
1049
73. Zima Liliana Adela - Public Policy End of Life Vehicles Reflected
at Opel/Vauxhall
Management Practice in a Knowledge Based
Organization
1060
Imposed by the Stability and Growth Pact and
The European Fiscal Compact – The Case of
Romania
1065
The University of Craiova
in the Context of the Knowledge Society
1076
approach
1081
Products and Services Market
Disadvantages?
1091
System of National and Regional Accounts –
ESA 1995
Romanian SMEs
1102
9. Bilan Irina - Effects of the Economic and Financial Crisis on
the Revenues and Expenditures of Romanian
Local Governments
10. Botoc Claudiu - The Effect of Working Capital on Profitability:
Evidence from Romania
Accounts Receivable
Forecasting Marine Insurance Market
of Banking Profitability
15. Carata Maria Alina,
Topics within Nowadays’ Romanian Internal
Auditing
1141
Quantification in Romanian and French Vision
1146
17. Chitan Gheorghe - The Effects of Corporate Governance on the
Net Interest Margin and the Solvency Ratio -
Evidence from Romania
18. Chitiga Georgiana - The Budget Deficit – A Reflection of the
General Economic Imbalance
Element within the Macroeconomic Politics
1162
and Internal Audit in the Banking System
1166
22. Covrig Mihaela,
Mircea Iulian, Manea
Hull) Insurance Policies for Individuals
1176
23. Dandara Daniela - The Impact of the Global Financial Crisis on the
Romanian Banking System
Accounting
1185
Sources
1189
Solution for Financial Crisis?
Impact on the Financial Audit
1199
Reporting
1204
On Public Administration
the Accounting Regulations Corresponding with
European Directives to the Accounting Treatment
Required by IFRS - Legislative Steps Taken by
Romanian Credit Institutions
31. Ducu Corina Maria - Operational Techniques and Methods used in
the Internal Control Process
and the Possibilities of Recovery
1222
Capital Flows in the Context of Financial
Liberalization
1227
Something Good or Something Bad?
1232
Resulted from the Assignment of Social Shares
1237
Human Resources Reporting
Performace
1248
of Corporate Governance
Evasion
1258
Market
1264
xxii
statements of the group
1268
42. Guni Claudia Nicoleta - The role of corporate governance within groups
of companies
43. Gust Marius - Dynamics and Structure of Domestic Credit in
Romania
1279
the Current Crisis
1284
45. Huian Maria Carmen - Considerations on the Profile of Respondents to
the Comment Letters Submitted for IFRS 9
Financial Instruments. Phase 1 and 2
1288
Conditionality amongst the Underground
Investigation on Romanian SMEs
Application of the ABC Method in Overnight
Hospital Stay
Fiscal Pact in Romania
50. Ispas Roxana - The Impact of Financial Crisis on the
Transactions in Off-Shore Zones
1315
51. Lenghel Radu Dorin - Views on the Internal Control System of
Economic Entities
1321
52. Lenghel Radu Dorin - Views on the Internal Control System of Public
Entities
1327
Approach
1333
Predictability and Practical Modeling within the
Romanian Accounting Area. Case Study for the
Societies within the Transportation Field in
Romania
1339
1345
Public Sector's Corruption in the European
Union's Economies
Emerging Economies - Behavior of Public
Officials, Public Funds Misappropriation and
Government Effectiveness in the Fight Against
Corruption
1357
Position and Financial Performance in an
Enterprise
1363
Impact on the Romanian Economy
1367
60. Mihalache Anita - Case Study on Export Accounting Based on
Commission
1372
Economic Crisis
1384
Romanian Banking System
Management
1394
Presentation
1399
Accounting
1405
Rate and Household Savings in the Current
Period
1410
Services Provided by Accounting Professionals in
Romania
1414
1420
xxiv
Bankruptcy
1432
72. Piciu Gabriela Cornelia - Criteria for Substantiating Decisions under Risk 1436
73. Pochea Maria-Miruna,
1445
Private Equity Investments
Institutions
1455
Innovative Businesses in EU? History, Concept
and Further Development
1466
Management of the Activity Center
1471
81. Sahlian Daniela
for IFRS Compliance
83. Sobol Anna,
Factors Affecting It
1496
1501
for Archive Depos
with the Subject and Paradigms of Management
Sciences
1509
Context of the European Fiscal Compact
1514
Companies Listed on the Bucharest Stock
Exchange (BSE) Tier I
Entity's Financial Position and Assets
1524
- Profitability of the Banking System in Romania 1529
92. Togoe Greti Daniela - Auditor's Role in the Use of European
Structural Funds
Performance Based On the Rates of Return in
Hospitality Industry Companies On the
Romanian Seaside
Performance Measurement Indicators
Institutions in Romania
97. Ungureanu Mihaela - The Economical and Ecological Importance of
the Environmental Impact Assessment
98. Ungureanu Mihaela - An Answer to the Need for Businesses’
Compliance with Green Demands – ECO-AUDIT
1564
Management Panel
1569
100. Vduva Maria - The Risks in the Insurance of Persons 1575
101. Vechiu Camelia,
Banking System
Listed Companies
xxvi
Protection of the Human Rights
1593
Judicial Cooperation in Criminal Matters
1599
***
Subsection 1 International Affairs
The Influence of Quality of Life Indicators on Migration in Europe
Ardelean Andreea
Burciu Andreea
Titan Emilia
[email protected]
[email protected]
[email protected]
Abstract
of different quality of life indicators on migration
in Europe based on data from Eurostat, World
Bank Group, ILO, OECD and IOM and briefly
deals with making classification of countries
based on emigration and indicators of the
ecological performance. In the first part there is
made a correlation between emigration and the
Gross Domestic Product, a multiple regression
using the „ecological” indexes and then a cluster
analysis is being implemented. In the second part
it is shown the econometric model which will
determine what variables are relevant in the
research.
econometric model, cluster analysis
J15, R15, C38
The purpose of this study is to give a brief
overview of the evolution of European
migration, using indicators that are not that
„worn out”. [4]
the fact that the evolution of migration is
greatly influenced by the quality of life.
Therefore, some indices that refer to the
quality of life will be analyzed so we can
determine how significant their influence is.
[5] The main idea of this study is to take into
consideration other variables that make
people live their countries. [1]
Quality of life refers to the well-being of
individuals and societies and it is used in
many contexts that include development,
healthcare, politics and so forth. This means
that the indices are from a wide range of
fields, including wealth, employment, built
environment, physical and mental health,
education, recreation and leisure time, social
belonging. [3] Quality of life and migration
together are rarely seen in studies, only a few
papers attempting to do a comprehensive
analysis of those two. Usually, those that are
preoccupied with this subject come from the
United States of America. In Europe, we
can’t find studies that are really exploring
this topic. And so, this paper is trying to
generate a general view over this matter. [7]
2. Data and methods
in influencing migration in the European
countries. [2] The main indicators that I took
to analyze for the quality of life are from
different fields like fertility, mortality,
marriage and divorce, health, education and
training, social protection, environment. The
relationship between the variables was
analyzed using simple and multiple
regressions. [6] We used ten indicators that
are essential in expressing the quality of life:
life expectancy by age and sex, infant
mortality, proportion of live births outside
marriage, live births by mother’s age at last
birthday and legal marital status, divorces,
marriages, health care expenditure (euro per
inhabitant), pension, investments in
Most indices were obtained from the
Eurostat and the countries chosen for this
“Ovidius” University Annals, Economic Sciences Series Volume XIII, Issue 1/2013
Republic, Denmark, Germany , Estonia,
Lithuania, Luxembourg, Hungary, Malta,
Netherlands, Austria, Poland, Portugal,
countries from the European Union). [8] [11]
[12] [13]
and 2011. Statistical data processing was
conducted using SPSS software and
Statgraphics Centurion.
migration, we also took the population data,
so we could balance the size of the countries,
while comparing them.
Gross Domestic Product and emigration so
we could see if the global economic crisis
background had a hard influence over the
migration in Europe. [6]
Sig. (2-tailed) .064
N 27 27
how the two comparable data sets agree with
each other. This table shows Pearson product
moment correlations between the pair of
variables. These correlation coefficients
strength of the linear relationship between the
variables. The third number in each location
of the table is a P-value which tests the
statistical significance of the estimated
correlations. So, the following pairs of
variables have P-values approximately 0.05
and a medium correlation of 36%.
Next, we made a multiple regression
between emigration and the 5 indicators that
establishes the ecological performance of the
European countries: Environmental
Climate Change Performance Index,
According to Reader’s Digest the
“greenest” countries in 2010 were Sweden,
Switzerland and Norway. [14]
EPI
1 Regression 2.020 5 .404 1.076 .405a
Residual 7.134 19 .375
EPI -.032 .028 -.433 -
“Ovidius” University Annals, Economic Sciences Series Volume XIII, Issue 1/2013
3
a. Dependent Variable: emigr_2010
relevant indicator is the Renewable Energy
Systems and the value of R of 47% shows a
medium link between the variables.
Then we applied the cluster analysis so
we could see how those countries would
form groups.
Figure 2.
distance between 10 and 15, we could group
the countries into 3 clusters:
- Cluster 1: Sweden, Norway,
Romania, Hungary, Italy, Cyprus,
Republic, Estonia, Malta,
regressions for relevancy. And we took data
sets from 2002, 2007 and 2011,…