Volume III, SEA - Practical Application Of Science
Issue 9
Silviu-Marius ȘEITAN
 

Generally speaking, and considering the national macroeconomic pattern of the requirement for evolution of the economic market as source of the general economic and social development – pattern which must functionally rely on the cooperation between the macroeconomic and microeconomic environments, and looking at the economic market like at a puzzle full of an ordered, yet heterogeneous multitude of market actors, the issue of the state aids must be understood within the context of the implementation of strategies of development, at the macroeconomic level, as an investment which the macroeconomic administrator makes in view of the subsequent acquisition of added value; as we mentioned, the main purpose of the investment is the creation of added value, which is nothing else but one of the main fundaments of the monetary creation – aspect which is indissolubly related to the idea of evolution, more precisely, to the idea of economic development.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: regulation, market, competition, competitiveness, efficiency
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Eugenia IOVANAȘ
 

The assessment of the performance – aims to analyze the way in which the job tasks are being accomplished and the work tasks related to the professional standards. The results obtained are considered in fulfilling the tasks specific to the job he/she is on and other gathered tasks, the results of the professional training in the assessed time, the performance obtained related to the individual performance objectives and to the performance standards, contribution in fulfilling the tasks of the unit and the deficiencies in activity. The evaluation of the performance characteristics highlights the strong and the weak points, under the form of certain levels which will be taken into consideration, as a synthesis reflection, in establishing the general mark of the performance. The general evaluation of the performance, under narrative form, considers the detailing and the explaining of the performance characteristics, of the way in which the objectives and the performance standards of the assessed public servant are reached, so that it can distinguish his/her professional particularity and personality. The law issue subject to debate aims at the competence of the court in proceeding to a new assessment of the public servant activity, which contests the mark granted by the assessor.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: public servant, assessment of activity, evaluation of professional performance, competence, administrative legal court
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Irina Ionela ROTARIU, Emanoil MUSCALU
 

Over the last few years there has been noticed an increase of the general interest in proper communication between medical specialists, on one hand, and the patients and their families, on the other. The benefits of properly performed communication certainly lead to an increase of public confidence in the medical system and therefore to the patients' improved satisfaction and contentment.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: communication, confidence, perception, stress
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Ionela Ancuța IANCU
 

There are plenty empirical studies in international literature, which investigate decision-making strategies of retail investors (Gelos & Wei, 2002, Lucey & Dowling, 2005, etc.). The majority of this studies include: fundamental analysis, technical analysis, a combination of technical analysis and fundamental analysis, brokers recommendations and financial reports. Using some elements investigated in the literature, our experience in stock markets and an enquiry over the investors behavior, our study shows what strategies increased the efficiency of the portfolio, in a period of maximum volatility on the Bucharest Stock Exchange (2006-2009). Basically, we note that, regardless of the economic cycle, those who used fundamental analysis in the decision making process, have been more successful than the rest.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: Investments, Strategies, Stock Market, Crises
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Mihaela Teodora TARCZA, Marcela Sefora (SANA) NEMTEANU
 

The aim of this paper is to propose a brief introspection in the literature review in an attempt to highlight the peculiarities of traditional foodstuffs that enable them to be promoted as the primary food for a healthy diet. The trend of healthy eating is gaining ground not only for experts and researchers, but also for consumers on a daily basis. Traditional foodstuffs are brought back into the consumers’ attention in a market full of highly-processed foodstuffs. Marketing specialists noticed the link between the two concepts and they elaborated promotional strategies for traditional foodstuffs, having the ‘healthy diet’ as insight. Throughout the paper we will present theoretical considerations such as the concept of ‘traditional food product’, ‘promotion’, and ‘healthy diet’ from a marketing perspective followed by several examples of traditional food products perceived as healthy, and lastly, we will highlight the benefits of promoting a healthy diet by consuming traditional food products.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: Traditional Food Products, Promotional Strategies, Advertising Arousal, Healthy Diet, Romania
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Silvia GRĂDINARU
 

Sports are a widespread phenomenon, capable of raising human energies and mobilize financial and material resources that can be difficult compared with those in other areas of social life. Management of sports organizations is influenced and determined by the compliance and requirements arising from the documents issued by international organizations with authority in the field. Organizational development is considered essentially as a strategy to increase organizational effectiveness by determining changes that consider both human resources and organizations. On the whole society, it is accelerated by an industry evolving sport with distinctive features. Its development is conditional on macroeconomics and technology. The complexity of the activities of sports organizations performance, the main laboratory performance national and international sports, requiring a more thorough investigation to enable knowledge of the complex mechanisms of their management and simultaneously identify some optimization solutions throughout the economic-financial and human resources.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: management, HR, performance, sports organizations
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Magdalena VELCIU
 

This paper proposes a theoretical review of career counseling services with a focus on identifying the benefits of these services in the complex process of adapting to the changing requirements of the labor market. For individulas, career counseling services are part of the process of lifelong learning process and for companies they are part of human resources eficiency. We do that because even if such specific actions were practically already applied in Romanian companies, there is an actual recognized need for certification and standardization which allows us to integrate into the European trend. Using scientific methods and tools for identifying the skills and competencies of workers, the services of career counseling help employees to find the efficient career pathway, in a systematic plann so as to finally contribute to the 'intersection' of goals and development requirements of the organization with personal preferences and skills of workforce.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: career guidance, career path, competence development
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Maria Mion POP, Mihaela GIURGIULESCU
 

The theme proposed by us is useful to teachers and students for mathematics in the compulsory school cycle. The issues faced by school teachers/parents are the difficulty with which students read and understand the lessons/examples/synthesis in order to assimilate technical terms. The echoic and iconic memory facilitates the learning of the specific curriculum of linear, spatial and analytical geometry by the students using digital platform designed by us; it facilitates the acquiring of the theoretical elements of applied geometry by encoding-decoding, so that the teacher's role becomes the one of the advisor and not only a person who transmits the information. The utility of the program extends from mainstream schools to special schools.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: Performance, Geometry, Encoding-decoding, Teacher advisor, Digital learning
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Ciprian SIMUȚ
 

The problem of theological language has been a hindrance in coming closer to God, ever since complex patterns of thought have combined with the theological inquiry. The conclusion that helped Protestantism gain ground was bringing the theological message of the Bible to the understanding of every-day believer. An effort was made to explain how God works in history, and how to become more like Christ in one’s every-day life. However, mere copying was not the foundation of Christianity. Inner conviction born out of understanding the explanation from the Biblical message was crucial. Thomas Brooks was one of the protestant theologians who aimed to explain how the Devil and evil work against the believer, in order to create chaos, disorder, sorrow, hatred, deception, and ignorance. He did this by transforming the theological message into creative language, using every-day images in order to create a relation between theology and praxis. This paper will analyze some of the aspects found in Brooks’ theological presentation, in order to show how theology could be used for the benefit of the individual believer, as well as for the benefit of society.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: Evil, Deception, Theology, Creative language
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Anca-Simona HROMEI
 

The realities of our modern society demonstrate that businesses operate in a competitive environment, which requires continuous improvement and development of production and sales. In this context, for financial, economic and fiscal reasons, companies resort to a process of concentration, through the merger of all the factors involved in the fulfilment and diversification of their activities. Often, the reasons for engaging in a merger refer to the fact that two merged companies create, in terms of value, an entity that exceeds the individual values of the two participants if they were to continue to activate separately. This paper aims at analysing whether the well-known relationship ‘1+1=3’, which describes merger synergies, applies at the Romanian level. For this reason, each of the values of 77 merged companies were compared with the sum of the individual values of the firms that initially created them. It was found that 56% of the mergers analysed generated added value for shareholders.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: Merger, Synergy, Company Valuation, Net Assets Method
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Dimi OFILEANU
 

The research is fundamental for the technical progress; its aim is to ensure the visibility of a new concept appeared worldwide – “lean thinking” which could be successfully implemented by Romanian companies too. The article makes a review of the specialized literature regarding this new concept and analyses the evolution of the publication of articles based on the following key words: lean accounting, lean manufacturing, lean philosophy, lean production and value stream. Also, it presents the stage of publishing specialized articles by Romanian authors or in Romanian magazines indexed in international databases.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: Lean accounting, Lean manufacturing, Lean philosophy, Lean production, Value stream
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Dorel MATEȘ, Eduard AJTAY, Antonela SANDU (URSACHI)
 

The present article aims to highlight the kinds of tax evasion methods in the field of products subject to excise duty and the role of the tax inspection in combating them. The research reveals which are the most common methods of tax evasion, but it tries to discern the probable developments of the process. The article has in view the inexorable reality, namely that the ingenuity method of tax fraud increases with the emergence of the new rules or barriers to the fraud. Following the research carried out we found that the tax evasion phenomenon in the field of products subject to excise duty has currently a significant impact in the economic and social Romanian reality. In order to reduce the tax evasion phenomenon in the field of products subject to excise duty, it must set up a mechanism for monitoring, oversight and fiscal control as well as the amendment of legislation, the tax evasion being mainly a consequence of the inaccuracies or imperfection of laws.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: tax evasion, energy products, excise, income, underground economy
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Mohamed EL GDAIHI
 

Practitioners refer to "fast fusion" as the action, of acquisition of controlling interest with leverage effect, which results in the fusion of the acquired company with the mother company. The aim of such a merger may be financial as the buyer captures not only the outcome of the takeover company but directly its liquidity, the repayment of the loan would be made not only by way of a divided but by direct use of the entire cash flow of the target via the merged firm. Moreover, such a transaction will enable the banker, as last lender to the holding, to directly take a guarantee over the assets of the target. However, the fusion is essentially driven by a desire for tax optimization; it will impute the expenses of the holding on the taxable profits of the acquired company. This process of rapid fusion is very interesting from a tax point of view, but its admission was controversial by the jurisprudence, which by hypothesis is important because this holding was indebted so as to obtain a maximum leverage. This company was chosen in particular because of its ability to pay dividends to the holding regularly to enable it to meet the deadlines of the loan.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: Fast fusion, Fusion, Holding, Law
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Silviu STANCIU
 

The increasing world population, the limitation of the natural availability for food production, the climate issues and the food consumption need for modification imposed a continuous updating of the food security concept. Although Romania has sufficient natural resources, which may ensure, by means of proper exploitation, the population’s food needs, the lack of a unitary approach at the government level, materialized in the dependence on imports and in fluctuations in the agro-food production, leads to a re-evaluation of national food needs. National food security may be affected by a series of risks and threats, which appeared due to an imbalance connected with the availability, the utility and the stability of the agro-food sector, interdependent elements that must be functional. The present article proposes an analysis of food security in Romania, with a short presentation of the concept in an international context.

  • Type: Review article
  • Published on: 22th November, 2015
  • Keywords: Food security, Production, Consumption, Romania
  • Received: 2nd October, 2015
  • Final revision and acceptance: 7th November, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Silvius STANCIU, Riana Iren RADU, Florina Oana VÎRLĂNUȚĂ
 

Aquaculture contribute ever more to the production of aquatic food worldwide, even if the sustainable limits for majority of wild fish stocks, are now almost reached or even exceeded. In the EU, aquaculture is an important economic activity in many coastal and continental regions. Aquaculture plays an important role in terms of access to food resources and it is necessary to use its potential to contribute to sustainable development, food security, economic growth and employment. In this regard, starting from EU aquaculture objectives, the paper intend to make an analysis of the national situation of aquaculture and its current potential. The paper presented the progress of Romanian investments in aquaculture, identifying needs and opportunities for the Romanian aquaculture development. Taking into consideration the natural resources available and the growth of global request of organic product, the development of ecologic aquaculture might represent o niche market for local producers.

  • Type: Review article
  • Published on: 10th December, 2015
  • Keywords: aquaculture, organic, sustainability, investments
  • Received: 8th December, 2015
  • Final revision and acceptance: 5th December, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
HUNGARIAN HIGHER EDUTATION-SUSTAINABILITY
 

Nowadays, the sustainability already goes far beyond the aspects of environmental protection; the knowledge and the education are also part of the sustainable development. In the field of education, a condition of realizing the sustainability is that the state should ensure a predictable and stable budget for the operation of institutions. Aim of the treatise, at first, is to examine the fulfilment of Europe 2020 Strategy objective affecting the higher education directly and then, based on statistical data, to present the trend in number of students of the Hungarian higher education and its composition by regions and to examine the change in the budgetary support.In order to retain the sustainability and competitiveness, the state and the institutions should make efforts to harmonise their sources and expenditures and to ensure a predictable, stable financial environment for the sector and its stakeholders.

  • Type: Review article
  • Published on: 10th December, 2015
  • Keywords: higher education, number of students, budgetary expenditure, sustainability
  • Received: 8th December, 2015
  • Final revision and acceptance: 5th December, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Mihaela ABĂLĂESEI, Raluca-Mihaela SANDU
 

Web-based technologies have been in a continuous state of growth, especially in the last decade, which also brought better and higher Internet speed. This has led to an increased number of opportunities for people to get involved in electronic word of mouth (e-WOM) communication. E-WOM is a new means of information sharing, allowing users to be inter-connected constantly, regardless of their time zone. Because of this unique quality, e-WOM has been identified as one of the key factors affecting online sales. However, there is little known about this phenomenon. Even if the literature has approached this topic from various angles, there is still a lot of uncertainty surrounding electronic word of mouth. One of the key research questions is targeted at factors which influence people in actively engaging in creating or receiving e-WOM. With this in mind, this article provides a general overview of the key factors analyzed in the literature, which determine adoption of e-WOM by online consumers.

  • Type: Review article
  • Published on: 10th December, 2015
  • Keywords: electronic word of mouth, factors influencing electronic word of mouth, e-WOM, electronic word of mouth model
  • Received: 8th December, 2015
  • Final revision and acceptance: 5th December, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Gabriela DAVID, Marius BOIȚĂ, Gheorghe PRIBEANU
 

Located at the intersection of the two spheres (tourism markets and financial ones), the tourism entity in Romania is interested in finding the formula to assure optimum financing by attracting financial resources in the field, on the one hand and on the other hand it is interested in meeting the high demand for profit from tourism and economic sphere. The objective determinant of Romanian tourism entity is to maximize the value by carrying out a profitable activity. The touristic entity must obtain profit to generate sufficient funds to distribute cash dividends to shareholders, while paying creditors at a favorable interest on borrowed funds.

  • Type: Review article
  • Published on: 10th December, 2015
  • Keywords: tourism, tourism market, tourism demand, financing,profit
  • Received: 8th December, 2015
  • Final revision and acceptance: 5th December, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Elena RUSE
 

Stress management is the individual's ability to handle any situation, external conditions, to match the demands of the external environment. The researchers revealed several stages in the stress response. A first phase was called ‘‘alert reaction'' or ‘‘immediate reaction to stress‘‘, phase in which there are physiological modifications and manifestations that occur under psychological aspect. Adaptation phase is the phase in which the reactions from the first phase diminishes or disappears. Exhaustion phase is related to the diversity of stress factors and time and may exceed the resources of the human body to adapt. Influencing factors may be: limited, cognitive, perceptual, and a priori. But there is a threshold of significance in stress management. Once the reaction to external stimuli occurs, awareness is needed. The capability effect occurs, any side effect goes away and comes out the ''I AM'' effect.

  • Type: Review article
  • Published on: 10th December, 2015
  • Keywords: Stress management, Threshold, External factors, Capability effect, I am
  • Received: 8th December, 2015
  • Final revision and acceptance: 5th December, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Elena RUSE, Georgiana SUSMANSCHI BADEA
 

Internal audit services are more and more needed within economic entities, because on one hand they are directly subordinated to the general manager, on the other hand there is an increase in credit to its recommendations, estimating that internal audit is more than just a simple compliance check based on an established referral system. Our research focuses on evaluating the impact of theory and practice in the application of internal audit process. The added value brought by internal audit function to the economic entity it is pretty difficult to establish and requires effective ways and criteria of measured. In this regard, we will try to present ways to analyze internal audit’s activity by reference to some performance indicators or other specific methods. We used as research techniques: literature review, applied research and constructive research.

  • Type: Review article
  • Published on: 10th December, 2015
  • Keywords: Internal audit, Evaluating internal audit, Performance indicators regarding internal audit
  • Received: 8th December, 2015
  • Final revision and acceptance: 5th December, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Silvius STANCIU, Riana Iren RADU, Florina Oana VÎRLĂNUȚĂ
 

The development of the fishery sector represents one of the European Union’s priorities due to the positive impact it has on food security and to its potential to ensure nutritious and quality food at an affordable price as compared to other animal-origin resources. The Community policy in the fishery sector focuses on reducing the Community market dependence on imports and on the sustainable development of business in this domain. Romania aligned with the Community policies and, therefore, important funds were allocated to the national fishery sector. The diversified natural resources, the possibility to use friendly technologies, the qualified staff, the tradition in the domain, and the existence of a number of niche markets all represent motivations for the development of the Romanian fishery sector. The present paper proposes an analysis of the Romanian fishery production and of the European financing effects on the specialized companies. Despite the fact that there have been important resources allocated to the sector and there is a slight positive evolution, the absorption of funds was difficult. The results of the investment may be observed after a long period of time, this is why Romania is still dependent on fishery product imports. Aquaculture represents the main segment towards which the European funds were directed, including in our country, thus providing the greatest part of the income and employment in the domain.

  • Type: Review article
  • Published on: 10th December, 2015
  • Keywords: Romanian fisheries, production, Community funds, aquaculture
  • Received: 8th December, 2015
  • Final revision and acceptance: 5th December, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Rodica IANOLE, Camelia COJOCARU, Cătălin NEDELCEA
 

The paper aims to elicit and discuss upon the main factors influencing the process of adopting video technologies by employing a mix of qualitative and quantitative methods. In the first stage, a focus group research was implemented on four samples of subjects with different levels of resistance to the use of technology, generating a set of barriers and facilitators, classified by their nature and level of interdependence. The second part of the investigation consisted in the application of a supervised questionnaire, following an adapted version of the mental representation methodology of Svenson and Nilsson (1986), for economics (marketing specialization) and psychology students. The preliminary results are pointing out to a couple of significant differences in perceiving the influence of the analyzed factors, suggesting the need for a customized policy of minimizing resistance to innovation.

  • Type: Review article
  • Published on: 10th December, 2015
  • Keywords: Adoption rate, Video technologies, Resistance to innovation, Mental representations
  • Received: 8th December, 2015
  • Final revision and acceptance: 5th December, 2015
Volume III, SEA - Practical Application Of Science
Issue 9
Florina Oana VÎRLĂNUȚĂ, Silvius STANCIU, Riana Iren RADU
 

Aquaculture contribute ever more to the production of aquatic food worldwide, even if the sustainable limits for majority of wild fish stocks, are now almost reached or even exceeded. In the EU, aquaculture is an important economic activity in many coastal and continental regions. Aquaculture plays an important role in terms of access to food resources and it is necessary to use its potential to contribute to sustainable development, food security, economic growth and employment. In this regard, starting from EU aquaculture objectives, we intend to make an analysis of the national situation of aquaculture and its current potential. We will also analyse the progress of Romanian investments in aquaculture, identifying needs and opportunities for Romanian aquaculture development. The conclusions of the research may be useful for academic and business environment, to develop sustainable activities in aquaculture sector.

  • Type: Review article
  • Published on: 10th December, 2015
  • Keywords: Aquaculture, sustainable, development, investments, Romania
  • Received: 8th December, 2015
  • Final revision and acceptance: 5th December, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Eugenia E. UDANGIU
 

Thematic dyads (permanence - becoming, experience - formalism, complex – simple, reductionism - holism, continuous – discontinuous, structural hierarchy – unit) originate in our general faculty of imagination, and they represent ideas - power, ideas – myths, which meet a compelling choice, within the prevailing paradigm, between: matter - spirit, substance – form, analysis - synthesis, mechanical - organic, determination - chance, causality - finality. Themata means here “the well-established and widespread fundamental preconceptions that cannot be simply reduced to observation or analytical calculation, or derived from them” (G. Holton). This study aims to analyze the triadic themata and their fruitful application in the “hard sciences” as well as in the soft ones. In this respect, the dynamic model of the social self seems to be very similar to the one of the Holy Trinity, demonstrating a common “pattern of thought”.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: triads,pattern of thought, trans-disciplinary explanatory models
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Andronicus TORP, Simona ALBULESCU, Anca Alexandra PURCAREA
 

This article examines the – presumed – link between Human Resource Management (HRM), more exactly the High Involvement Work Systems (HIWS) and Company Performance, also known as the HR-P link. It does so in a somehow historical way, showing the development of the Human Resource Management field and how the presumed link with company performance slowly, slowly emerged and became a foundation in the way people think about Human Resource Management. In the end of the article the possibility of making Human Resource Management an objective, quantitative science, based on one of the principles of Quantum Physics;electromagnetism, isintroduced as a future study topic.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Human Resource Management, Company Performance, High Involvement Work Systems, Quantum Human Resource Management
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Silviu-Marius ŞEITAN
 

The small and medium enterprises hold an important proportion of the business environment, which is why the association of the evolution of these economic entities with the conditions of macroeconomic performance is imperative for the efficiency of the socioeconomic development. Within this context, the small and medium enterprises should be considered as the main source of revenue to the state budget and, at the same time, as the main market for the labour force, these two perspectives showing their essential role in influencing the demand and consumption. Given the way in which these macroeconomic objectives are targeted, particularly by the system of macroeconomic policies, it appears necessary to analyse the interrelationships between the business environment and the macroeconomic administration – context within which the strategic objective of establishing the proper conditions for the evolution of the small and medium enterprises becomes of utmost importance.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: microeconomic, macroeconomic, fiscality, SME, evolution
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Răzvan Ion CHIȚESCU
 

The presented research in this study highlights the impact of the changes that took place by the implementation of the informational system management at the level of taking decisions in a public institution. In this frame, with the opportunities and limitations, the manager’s role becomes the binder that the combination between the influences of the informational technological influences and the involved human resource in the transformations of the Romanian public sector needs for a successful and efficient evolution. Based on an empirical study, there were highlighted a series of challenges that a manager must answer so he can overcome all the shortcomings that are involved by the projection and implementation of an informational system in a public institution, and to make the most of all the facilities that this process offers, offering a maximum of efficacy, analysis, perspective and communication.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: information transmission, public administration, IT management
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Shaqir M. REXHEPI
 

The study on how is Internal Control System developed in public institutions is of a special importance for modalities, forms and the manner of the application of relevant strategies for the functioning of internal control environment in public institutions. In this paper, there is treated the existing situation of internal control system environment of public finances and its implementation in public sector. For internal control system environment in public finances to function effectively, there should exist a coherent control environment which includes responsibilities for financial management from managers of Publicly Owned Enterprises and with complete functioning of internal audit, which exists in the function of development to add value. In Kosovo public institutions, this framework is offered by legislation and by institutional mechanism for the implementation of legislation according to these parameters.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Control Environment in Public Institutions, Internal Audit, Financial Control
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Dimi OFILEANU
 

Once the Lean philosophy is developed and implemented to all levels in a company, a new accounting system appears: Lean accounting. Value Stream Cost Analysis is the main and the most powerful instrument of Lean accounting. Because of the fact that VSCA allows us to identify the company’s performance at the proper time, we can rapidly intervene to make the adjustments needed. The Romanian footwear industry is competitive worldwide (14th place in the top of exporters), but in order to improve, it has to rapidly react to clients’ expectations. In the case where the companies have a production system based on Lean philosophy, the implementation of VSCA does nothing but improve the obtained results. This article presents a case study of VSCA application in footwear industry.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Lean, Value stream, Value stream cost, Footwear industry
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Elena Ramona TERZEA
 

The restructuring of the economy as a whole is a key factor determined by the Romanian international trade restructuring. Restructuring process contains elements that are specific to the transformation in a market economy mainly characterized by competitive spirit and by enforcement of competitive advantages. The idea of international trade has been long debated starting with the Smith’s theory of absolute advantages ( Adam, Smith ,1908) to the perspective of the competitiveness presented by David Ricardo(2001) followed by the major paradigm change brought by Porter's Diamond (Michael, Porter 1990). Among the determinants of international trade, especially in order to promote exports, a special importance should be given both to the companies and market’s features and to distance to the country in question, to infrastructure and to access roads. The quality of a country's infrastructure is one of the important factors in the development of international trade relations. Depending on its quality level this factor becomes a driving force the development of which must forego the start of other economy sectors.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: International trade, FOB exports, CIF imports, Infrastructure, Transport networks
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
DATA ANALYSIS TECHNIQUES FOR EXAMINING FACTORS INFLUENCING STUDENT’S ENROLLMENT DECISION
 

This research was conducted to explore the data analysis techniques applied for analysis of factors which have significant impact on the student’s attitude behind enrollment decision. Data on which such techniques are applied are collected from first year students or last year high school pupils via survey. The results have shown that the most used data analysis techniques are: descriptive statistics, comparing means techniques, correlation, regression, ANOVA, factor analysis, Cronbach alpha. Findings of this study are likely to worn and help higher education institutions to increase institutional knowledge about student’s enrollment decision by results obtained from the application of these techniques, and can be relied to provide a solid base for action (policy and practice development).

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Data analysis techniques, Student’s enrolment decision, Influence factors
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Delia Corina MIHALȚAN, Radu MĂRGINEAN
 

Due to the crucial importance of financial information in the context of a knowledge society like ours, the present paper aims to highlight the typical aspects of the financial information system in nonprofit organizations, for the very reason that, inside it, the financial information is produced, which is so necessary to the decisional process. Starting from the hypothesis that the financial information system is influenced by the features specific of the nonprofit organizations, we have applied a methodological approach that has led us to the formulation of certain conclusions. We have studied the literature, the legislation in this domain and the practical realities of the nonprofit organizations analyzed. We concluded that the financial information system of the nonprofit organizations is structured according to the activities undertaken, the programs assumed, the type of funding, the type of target group, the budget-based activities and the presence of volunteers.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Financial information system, Nonprofit organizations, Accounting information, Specific activities, Particular subsystems
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Ramona Maria CHIVU
 

The current situation of the environment is a direct consequence of history, especially of economic history. The article analyzes the relationship between economy and environment, in order to determine the main causes that led to the ecological crisis. The article argues that despite the close relationship between environment and economy, the economy did not take into account the environmental protection, until there appeared serious environmental impacts. Including the environment in economic thinking led, first, to the application of conventional techniques to economy to try to solve problems. The article also examines some priorities for improving the relationship between economy and environment conducive to move towards a model of sustainable development. The conclusion is that sustainable development is the goal to be achieved. In search of sustainability, companies should play an important role, as in all phases of the life cycle of their products, there are environmental risks and, therefore, they are a major source of environmental degradation of the planet.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: economy, environment, waste, economic crisis, pollution, sustainable development
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Cătălin MĂRGINEAN
 

Large corporations are still an important part of today’s economic scene. Although written more than fifty years ago, The New Industrial State is still a valid perspective on corporation management, on the relation between entrepreneurs and the so called technostrucure, a term introduced by Galbraith by which he defines all the persons who participate in a group decision making. In Galbraith’s view, the power of the modern corporation has passed from the hands of the owners into the hands of the technostructure, a group which basically run the business and have different interests than that of profit making, belonging to the entrepreneurs.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Technostructure, Corporation, Power, Entrepreneur
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Radu MĂRGINEAN, Delia Corina MIHALȚAN
 

The financial and economic crisis that started in 2008 caused negative effects felt by the entire European economy, affecting more or less all of the world's economies. This paper aims to study the diagnosis of bankruptcy risk using the Canon-Holder and Altman methods, from a theoretical point of view and with practical examples on a company in the furniture industry in Romania. In a context of economic uncertainty, the relevance of such an analysis designed to quantify the risk of bankruptcy for companies is the default. The financial data used is real and descriptively analyzed, we analyzed a period of eight years, between 2006-2013. As a method of analysis complementary to the financial analysis of the background of companies, the diagnosis of bankruptcy risk using the score method, using the specific models known in the specialty literature, brings relevant information concerning the problem of risk assessment. We concluded in the case study the opportunity of such an analysis for the furniture industry through the results obtained in the case studies, the method is a useful tool, especially for the practitioners in the sector.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: The Alman Pattern, The Conan-Holder Pattern, Performance, Bankruptcy risk, The furniture industry
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Irina IONESCU
 

The world is currently living to its edges, menaced at each corner by environmental changes, terrorist attacks, civil wars or biological weapons let loose. With the emerging of the Islamic State and other terrorist cells the entire world under the peaceful globalization sphere questions its security. The paper aims to focus on detailing the most modern ways of financing terrorism, including through tax haven offshore companies, and the charity paradox. Charity institutions, several banks and even Non-Profit Organizations go hand in hand with a full range of felonies, from money laundering to narcotic traffic, humans trafficking, organized crime, arms dealing and terrorist attacks. The paper aims to offer pertinent solutions to tax havens and light legislation in order to prevent terrorist groups and cells from becoming an extensively rich and potent menace to global and state security.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: International terrorism, Terrorism funding, Tax havens, Offshore companies, Charity
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Mirela NICHITA
 

The purpose of financial reports is to provide useful information to users; the utility of information is defined through the qualitative characteristics (fundamental and enhancing). The financial crisis emphasized the limits of financial reporting which has been unable to prevent investors about the risks they were facing. Due to the current changes in business environment, managers have been highly motivated to rethink and improve the risk governance philosophy, processes and methodologies. The lack of quality, timely data and adequate systems to capture, report and measure the right information across the organization is a fundamental challenge for implementing and sustaining all aspects of effective risk management. Starting with the 80s, the investors are more interested in narratives (Notes to financial statements), than in primary reports (financial position and performance). The research will apply a regression model for assessment of risk reporting by the professional (accounting and taxation services) for major companies from Romania during the period 2009 – 2013.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Risk, Financial reports, Regression model, Notes to financial statements, Transparency
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Afrodita BORMA
 

This paper presents the trend of tourist indicators in Bihor County, during the period 2007-2013, in terms of: tourist accommodation establishments; existing tourist accommodation capacity (number of availabilities); tourist accommodation capacity in service (thousands of availabilities - days); number of overnight stays in tourist accommodation establishments; number of tourists arrivals in tourist accommodation establishments; index of net use of accommodation capacity in service and the average length of stay. Based on information provided by the National Statistics Institute we have defined six tourist areas (Oradea, hydro spa area, mountain area, urban area, rural area and border area) in order to observe, which was the most developed area in terms of tourism, during 2007-2013. To this end, the average percentage of the analysed indicators was calculated, the calculation method being as follows: we divided the total of the indicator analysed in an area by the total of areas analysed (for each year separately), and then we added the indices obtained for each of the seven years and divided them by their number.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Bihor County, Accommodation capacity, Number of overnight stays, Number of tourist arrivals
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Valentina Dorina BOGDAN
 

Analyzing the current state of knowledge with respect to the three directions, this paper aims to identify the determining factors of economic, social and environmental performance and the manner in which the indicators reflected by these factors influence the overall performance of the organization, in order to identify the most important factors and indicators that provide a durable and sustainable growth of global performance. The emergence of the sustainable development and sustainability concepts has forced companies to reassess their approach of measuring organizational performance. If sustainable development consists of three components: economic prosperity, social equity and environmental integrity, all of which being closely correlated, the performance of a component is influencing the performances of the other two. A business can be defined as sustainable, if it manages to meet stakeholders’ needs without compromising its future ability to meet its own needs.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: determining factors, performance, performance indicators
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Teodora I. BITOIU, Crina RADULESCU
 

The paper puts forward a decision modeling by appealing to a vectorization system, similar to one used in aviation – Instrument Landing System (ILS). The decisioncockpit developed by this paper implies a two angle vectorization system: the exogenous system, meaning the system where the independent variables are included and the endogenous system, of which the causal factors are part. The model keeps the main feature, that of being a display of reality. Theentire argument comes down to tearing down the decision making process and reconstructing it so as to solve its structure problems and to accentuate the points at issue where it makes a change – so as to adjust to reform practices - and how important is this change for the PA reform.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Decision-making, Regulation, Adaptive management
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Vasile GORGAN
 

Data Driven Decision Support Systems are mature technologies whose effectiveness in business and management seem to be well established and uncontroversial. Under the circumstances of increased competition between universities in their attempt to better position themselves on the market of educational services, a Data Driven Decision Support System could become a powerful instrument meant to enhance all the decisions that target various aspects of the educational process. This paper is a case study conducted in a Romanian university, presenting the development of such a system, emphasizing the analytical capabilities related to student results at exams, as this topic is of interest for the users of the system.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Decision Support System, Data Warehouse, Higher Education
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Carmen BOGHEAN
 

The purpose of this analysis is to analyse the connection between foreign direct investments and economic growth in transition economies during a period of increased integration of financial systems in the global financial system. The research focuses on the relationship between foreign direct investments and economic growth during 1970-2013, by means of methods such as the graphic, the regression and the correlation ones. The research findings show that there is a direct and strong connection between the inward financial flows of foreign direct investments and the GDP during the period under analysis in transition economies. In transition economies, a high inward flow of foreign direct investments leads to an increase of the Gross Domestic Product per capita, while a positive development of the standard of living will attract new inward FDI flows, since transition economies are seen as attractive recipients/hosts for foreign direct investments.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Foreign direct investments, Economic growth, Financial system, Transition economies
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Bianca Steliana PÎRA (BEȘA)
 

The very low inflation in the Eurozone is, probably, the greatest challenge the European Central Bank has been handling since overcoming the 2008 crisis. This study analyses the monetary policies conducted by the ECB and their struggle to lift the inflation rate just below 2%. The paper presents the main causes for the actual situation, the countries where this problem is more persistent and the measures taken in order to raise inflation. It is of great interest to analyze whether the same policies are proper for different member states facing the deflation issue. For this reason, the study shows to what extent the single monetary policy represents an advantage or, on the contrary, a drawback for the Euro Area member states who try to overcome this critical situation.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Eurozone, Macroeconomics, Inflation, Liquidity trap, Secular stagnation
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Maria-Mădălina VOINEA
 

For years among the Romanian accounting was understood as a planned and consolidated accounting, with the principles and common practices of the communist society. But december1989 not only meant the end of the communist regime, but also the end of the centralized economic system, thus requiring the adoption of a so-called liberal economy based on market values. Accounting begins to be seen as a business management tool deployed in an economy "in transition ", hence the need to define new accounting practices. (Diaconu, 2006) The necessity of accounting reform in Romania aimed at continuous improvement of the Romanian accounting system.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: accounting regulations, dual accounting system, accounting reform, market economy, accounting principles and practices
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Adrian STOLERIU
 

The Crucifixion of Christ is one of the major Biblical events in the context of the four Gospels, also marking one of the most frequently met themes in the iconography of Christian art. The focus of the paper is to underline the main aspects of the visual representation of this tense moment in the history of Christianity, referring to representative works of the artistic heritage inspired by the event of Christ’s death on the cross. Thus, a number of famous works of art history are analyzed in relation to the described composition, the represented characters and their importance. They belong both to traditional artistic fields, such as painting, to modern ones, thus taking into account some of the most popular film representations on this topic.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Christ, Crucifixion, The Virgin, St. John, Iconography
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Irina-Andreea STOLERIU
 

The starting point of the present paper is the work 'The Virgin and Child with Saint Anne', made by Leonardo da Vinci. The paper is based both on an artistic and psychoanalytic approach which opens new ways of interpretation due to the research of Sigmund Freud - 'Leonardo da Vinci and a Memory of His Childhood'. Freud claims that Leonardo had found the lost image of his mother in his works 'The Virgin and Child with Saint Anne' and 'Mona Lisa', thus justifying the artist’s direct attachment to these creations. Along with specific interpretations of the creative process, the psychoanalytic approach intends to explain and enrich the content of ideas of the present paper regarding one of the most valuable creations of Leonardo and also an artistic testament created towards the end of his life. Freud’s psychoanalytic approach brings specific interpretative content for the mentioned work of art. It is different from the artistic method, not contradicting various artistic studies, but complementing them in a harmonious way.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Art, Religion, Psychoanalysis, Leonardo da Vinci
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Andreea Ioana COSTE, Adriana TIRON-TUDOR
 

Significant actions have been taken to define the concept of performance measurement. Many researchers have been discussing and developing this topic. Also, not only in the recent literature are many studies regarding the topic, but now are more than ever. At international level, International Public Sector Accounting Standard Board took the decision to develop a framework for reporting service performance measurement that focuses on meeting the needs of intended users. In this way, around the world, will be a uniform understanding and applicability for performance measurement. This paper analyzes the concept of performance measurement. The main objective of the paper is to do a review of the definitions received by the concept in time, thus a qualitative approach will be used. Furthermore, this paper tries to examine the changes which occurred in public universities due to the budget constraints. Performance measurement plays a central role because, in this way, universities prove their accountability and to show the way in which they have value the money.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Service performance, Performance measurement, Performance in the public sector, Higher education, Public sector
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Alexandra Elena POȘTOACĂ, Dorian Laurenṭiu FLOREA, Dora MOROȘANU
 

In order to identify the differences between the theoretical approach related with the processes of media planning and the practical approach of experts from this field, a qualitative research has been done among experts. Besides that, the main purpose of this article is to determine the purpose and methods used by experts in order to establish the level of the effective frequency of exposure. There are several theoretical approaches related with this concept and many models have been carried out by theoreticians from this filed, but it's very important to find out how things are really going in practice: do the practitioners consider the frequency of exposure an important media objective and if so, what is their method for establishing the level of frequency of exposure for a particular media campaign? This subject and many others have been addressed to experts in this qualitative research.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Media, Media planning, Frequency of exposure, Media strategy, Media objectives
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Cornelia VĂCEANU, Petronela Evelina BĂLU
 

The aim of this paper is to analyse both in theory and in practice fiscal policy effects on the employment rate. For example, even if taxation is one of the main instruments of fiscal policy of the government in reducing unemployment, high taxes reduce disposable incomes of consumers, which automatically leads to lower consumption and when consumers buy less, increases the odds that the unemployment increase. To highlight this we used the comparison of a dynamic influence of fiscal policy on macroeconomic variables with the empirical results from an identified multidimensional model. Data shows a positive conditional correlation between government expenditures increase and labour force supply.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Fiscal policy, Employment, Consumption, Budget deficit
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Raluca Andreea TRANDAFIR
 

Different regions, countries or areas have identified the development of the tourism industry as a strategic objective in their policies, at both the microeconomic and macroeconomic levels. These regions, obviously, expect the tourism industry to generate economic effects to residents (both households and local businesses.) Over time, our country was considered an important tourist destination for the market in South-East Europe, supporting and promoting Romania's image and especially coastal tourism, spas, cultural programs and monasteries in Bucovina. The Romanian tourist offer did not do profound changes in relation to the tourism demand and to the requirements of comparative tourism products on the international market, requirements that, over time, proved to be increasingly demanding. There are several approaches that aim at diagnosing the business of accomodation industries but a method commonly used for this is the SWOT analysis (Strengths, Weaknesses, Opportunities, Threats), i.e. the analysis of strengths, weaknesses, opportunities and risks or threats of a company.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: tourism, hospitality industry, SWOT analysis, company performance
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Mircea George GHERASIM
 

The ethnic reputation has multiple consequences for the rule of law, security, stability and justice, and the arguments proposed under this article shall take into account some basic elements such as: the significance of labeling an ethnic group as being tilted towards "crime"; the complexity of the relationships that are established among marginalized groups; the legitimacy of the administrative measures and the reciprocity of the actions performed by each of the members of these groups. We will try to show that the labeling of various ethnic groups is not an independent phenomenon; it is related to several elements, factors and processes mutually influencing their developments, by their complexity, and generating multiple consequences in different areas of the private or public life of a community.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: ethnic, labeling, crime, Roma
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Mircea George GHERASIM
 

Substantiating the idea of equality of all citizens, Ion Ghica shows the special value of this concept and its importance for the Romanian society, saying that "equality is a noble and good aspiration of the generous man, of the man endowed with a sense of justice and fairness; it is the urge and hope of the intelligent person, of the scholar and of the worker, of the one who wants to climb the social ladder, who aspires to the development of progress and civilization". The purpose of this study is to focus on the issues of the Roma minority and on the ethnic discrimination in this segment, which is not limited to Romania, becoming rapidly a center of interest and concern throughout Europe.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: ethnic, discrimination, equality, Roma
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Vasile DRĂGHICI
 

The society does not have to be a mere observer of reality; it should have an initiative and it should take measures in order to ensure the common good. It is very important to have in mind that, besides the criminal law, the church is another entity that protects social values. From this angle, they represent what we want, seek, cherish and love. The valuation criteria depend on the value assessment of the members of the society, on their conscience and, not least, on their degree of culture. The society categorizes as social values all those criteria on which it depends for its existence, development and sustainability.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Social value, Assets, Social relations, Security, Legal order
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Mariana Rodica ŢÎRLEA
 

For a company, through investment activities, it is followed to either create new abilities or expand the existing abilities, the partial or complete replacement of existing technical base or its modernization. In the condition that it is desired the creation of a technical base, the investment involves the purchase of fixed capital that can materialize in: buildings, special buildings, land, vehicles, facilities, equipment, etc. In terms of expansion and modernization, investment implies the existence of a material base on which should be intervened wholly or partly by its development or modernization. For the selection of investment projects in the context of investment strategy established at enterprise level through a Financial justification and prioritization of investments this should lead to the achievement of the objectives set at its level.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: enterprise, project investment, investment, cash flow, strategy expansion, creation
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Magdalena Daniela DINU (POPA)
 

A project is sustainable when it provides continuity of economic activity and society without destroying the environment we all depend on. The continuity of the economic activity is based on a viable project, righteous and acceptable for the three pillars of sustainability: society, economic activity and the environment. Sustainable development is not a utopia. Sustainable development means finding the adequate means in creating usefulness, for which the end-user is paying, finding alternative resources, solutions for a more efficient use of our resources, which are theoretically limited to our planet’s potential, while the needs were, are and will be unlimited. The sustainability of the economic activity or continuous development will take into consideration potential necessary resources for future generations. A sustainable consumption does not necessarily mean consuming less. It means consuming differently or smarter, reducing the consumption of goods and services or discovering substantial possible changes in the way consumers behave, as well as changes in corporate activity. Thus the Marketing responsibility is to get inside the customer’s point of view’, the assertive feedback and vice versa to bring on market the whole business result.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Sustainability, Environment, Population, Resources, Education
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Gyula Laszlo FLORIAN, Csaba PAJZOS
 

In order to achieve the desired performances and the increased value added to the final consumer, organizations need not only to integrate their core businesses and align them to business strategy but also to embrace the marketing philosophy. After presenting the main issues in operationalizing the marketing performances, we propose an empirical research using a working dataset of 64 firms from various industries to analyze the relationship between marketing and organizational performances. The research methodology employed is based on structural equations modeling. Results document that marketing orientation influences organizational performances in the framework of the supply chain management strategic approach to organizational performances.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Marketing performances, Organizational performances, Structural equations
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Zoltan KATO
 

By purchasing a plane ticket or a cargo service, the passenger or the customer signs a contract with the airline company. From that moment on the airline company is responsible for all aspects of air travel, including the passenger' luggage (recording, handling to / from the aircraft etc.). Safe transport of passengers' luggage or cargo packages on airlines raises numerous problems for airlines and requires flexible, efficient solutions, appropriate to the specific requirements of each client. Annually millions of luggages get lost in airports around the world. This causes inconvenience to passengers and loss of resources and additional costs for the airlines. The aim of this paper is to examine how RFID(Radio Frequency Identification) technology could be useful for advanced shipment tracking (Track&Trace) in the airlines industry, by using rewritable passive RFID tags.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: RFID tags, Shipment, Track
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Ciprian-Dan COSTEA
 

The research in accounting with specific application on capital markets represents a special resort of accounting research. The development of such studies was favored by the evolution and strong growth of capital markets in our daily contemporary life and by the extention of base accounting concepts to international level. In such circumstances, studies regarding the evolution of concepts like value relevance, efficient markets, accounting information and its dissemination, fair value, are welcomed on the field of accounting research with applicability to the capital markets. This study comes to outline some positions regarding this topic of accounting research.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Value relevance, Efficient markets, Accounting information, Dissemination, Fair value
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Claudia URDARI, Teodora Viorica FARCAȘ, Adriana TIRON-TUDOR
 

Over the last years, the interaction with the socio-economic environment was defined as the third mission of the higher education institutions (HEIs), along with the two other traditional missions, namely teaching and research. These three missions represent the foundation upon which HEIs are evaluated and they have a great impact on the strategy that schools are implementing in order to achieve their goals. International university rankings, which are global mechanisms of higher education performance measurement systems, have just recently started to develop indicators that measure the third mission activities. Thus, this paper provides a literature review of the indicators employed for the performance measurement of HEIs contribution to society.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: higher education institutions, performance measurements, third mission activities
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Irina LECA
 

XXI century is the century of globalization, a century dominated by multinational organizations supremacy which gradually expanded to conquer the world through their products and services. In every industry working professionals need to interact with people from other ethnic and nationals groups, at home, job and around the world. Decisively all meant for companies and organizations, in addition to innovation and development the source of possible conflicts. Therefore what does cultural diversity mean and how it should be managed?

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: globalization, multinational organizations, cultural diversity
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Ibrahim ALMAASHI
 

The paper aims to reveal that there is a stringent need for a bridge or a well connection between public policies and Politics, if that state’s systems intends to work on a good way. A public policy, no matter if it is about health, education or other important environment can be sustainable and can be followed by good results just in the case it is sustained by the political and governmental environment belonging to that state. There are met definitions and comparisons of different views both on the political side as well as the communities’ side. As a concept, the good governance lead to a better understanding of the appropriate public policy decision-making, related on eight leading principles.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: public policy, state, politics, effective, efficient
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Ibrahim ALMAASHI
 

The social networks like Facebook, Twitter are a real part of today society because we live in a social network era. These social networks facilitate individuals to communicate at minimum fees and to alert the public that wants to involve. The human being is a part of social networks that is formed by relations who can have various roles: having the information, confidence role or mobilization role in the case of conflicts. In the same time, the social relations are a source of influence. Following the contamination theory (Burt, 1995), people have the tendency to adopt the attitudes and the comportments of persons with whom they are in communication and the theory of diffusion (Rogers, 2003) presents the fact that the people to be in a relation are mutually influenced when is the time to innovate something. So, in order to have a more rapid diffusion of something, they have a leader.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Conflict, social networks, mobilization, communication, intractable conflicts, culture
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Ioana COMSULEA
 

In the age of information and technology, Virtual Communities of Practice represent a reachable, cost effective and viable solution. For their advantages, they become more popular between the members of the cluster communities that share the same interest. Virtual Communities of Practice bring together people through online platforms and put them into the collaborative relation, so that they can share, learn, experiment and improve their activity. To this, there is always an informational input came from document resources shared into the community. But the challenge come with the management of this hole information and the use of it in order to go further and use the proper information to obtain knowledge and take decisions. For this, in our paper, we propose a model of using Business Intelligence into Virtual Communities of Practice, focusing on the advantages that this approach brings not only to the virtual community, but also to the local communities, improving their activities and being an innovation accelerator.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Business intelligence, Virtual communities of practice, Virtual libraries, Innovation
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Madlena NEN
 

When exposed to the theoretic leadership concepts, it is rather rare that managers - either already acting or pursuing this role – don’t identify themselves as leaders. A leader is a person who motivates , supports and listens. To be a leader means to mobilize human resources , to establish a direction emerged from a personal vision on the evolution of things, to have the power to transform this vision into reality. And yet, real leaders are far more rare than most managers are ready to admit. Both have their added value within an organization and in practice it’s rather challenging to see things moving ahead without having both roles pulling together. So far, a leader's skills are necessary to deal with the ambiguities and uncertainties with which they are accustomed. Another aspect is the strategic positioning in case of conflict . This paper aims to identify the influences of a leader in team building.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: leader, manager, human resources
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Emanuela Maria AVRAM
 

Communication in higher education is an extremely important process because the internal and external relationships in higher education institutions are determined by the way in which communication takes place. The internal communication is between the academic management and its staff but also its students, whereas the external communication involves the potential students as well as the academic stakeholders. Consequently, this paper aims at presenting the internal and external communication in higher education institutions. The results show that both forms of communication are very important for ensuring the higher education institution’s visibility on the market.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Internal and external communication, Higher education institutions, University’s visibility on the market
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Cristian BUSU, Alexandra Cătălina NEDELCU
 

Nowadays the market of postal services faces a period of reconfiguration due to the process of liberalization. The changes that come along with this process are affecting providers and public regulatory authorities. Based on a documentary research, this paper presents the results of an analysis made on the EU28’s postal services’ markets, with a special emphasis on the liberalization of those markets. The second part represents an economic analysis of postal services’ coordinates and highlights the main considerations about the universal postal service, from the competition point of view.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Competition, Final consumer, Market Liberalization, Postal service
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Cristian BUSU, Alexandra Cătălina NEDELCU
 

The universal postal service is part of the general interest economic services in which the state intervention is needed. From the economic and financial point of view, it is absolutely necessary to find the best formula by which a financial aid does not represent the premises of a state aid. The specific features of this market are determined by the minimum conditions imposed on what the frequency and speed delivery are concerned, in conditions of maximal rates. This paper focuses on an analysis on the EU’s postal services’ markets, from the competition point of view, with a special emphasis on the specific features of the players on this market, as well as on the benefits for their clients. The second part of the study focuses on actual situations from two EU’s different states and on competition aspects that these states have confronted with.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Competition, France, Market Liberalization, Postal service, Romania
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Alexandru Lucian MIHAI
 

Sport marketing involves marketing fundamentals applied in one industry, the sport business industry. The development of sport marketing fundamentals is therefore based on basic marketing principles. The practice and activities of sport marketing are also based on basic marketing activities, but are modified and adapted to the sport business industry. Therefore, sport marketing is based on its primary and parent discipline - marketing. Sport marketing is one of the most important functions of a sport business. This is because the sport marketing activities will define the business. The growth of the sport industry is phenomenal and shows no signs of slowing. Also, sport marketing is a process. A process is a continuous cycle. Therefore, marketing is a function that never ends. The sport marketing management model is an illustration of the elements and process of sport marketing. It should serve as a guide for managing the company’s marketing functions. The model illustrates the elements of marketing, the succession of elements and functions, the process of managing, and the interdependence of the elements. This paper presents an overview of the model, sport marketing management, each element and the process.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Marketing management strategies, Marketing mix, Sport company, Sport marketing, Sport marketing research and analysis
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Raluca-Mihaela SANDU, Mihaela ABĂLĂESEI
 

The Internet evolved from Web1.0 to Web2.0, bringing on frontline the Social Media, with the help of which a double communication advantage can be underscored: between companies and their customers and between customers. Hence, Social Media can be considered a new, hybrid component of the promotion-mix. This complex phenomenon includes also weblogs or more commun expressed: blogs. The blogosphere grows as the number of weblogs multiplicate in an exponential manner and starts to gain ground in marketing. As consumers search for recommandations on the Internet about trends and products to buy and thus also on blogs, this can only lead to influencing consumer’s behavior. Two different types of weblogs are analysed: fashion blogs and travel blogs.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Social Media, Weblog/ Blog, e-WOM, Fashion, Travel
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Anne-Marie Andreea HORDAU
 

In this paper we want to raise awareness of how important is for an economy the existence of creative jobs. In the last years the employment rate has grown in the sector of creative jobs. This research came out due the need of creative jobs contribution to the development of an economy, in particular Romanian economy. In this paper we want to stress on the importance of creative industry and also to propose some solutions for increasing employment in this sectors , being well-known that creative industry is attractive to smart and talented people. Nevertheless, it is important to point out the development of IT as part of creative industry. Not at last, we will take in consideration the role that small and medium enterprises have, the impact of fiscal facilities in the economy and the need for appropriate financial instruments to support this kind of business.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: labor market, creative jobs, employment
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 8
Paul-Panfil IVAN
 

Migration is a global phenomenon gradually increased in scope, impact and complexity. Practically all countries are simultaneously countries of destination, origin and transit for migrants. Traditionally migration flows are complemented by new changes generated by economic, demographic, political or social conditions, and these trends affect both the size and structure of the migrant population and also economies and societies. Of course this has sparked international interest from various NGOs and by the European Union and the United Nations. This paper aims to present the vision of international organizations concerned with migration and how they define migration and its typologies.

  • Type: Review article
  • Published on: 28th May, 2015
  • Keywords: Human migration, International migration, Migration’s international organisations, Migrant
  • Received: 3rd April, 2015
  • Final revision and acceptance: 25th May, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Anișoara Niculina APETRI
 

Since the international financial crisis, the external environment was an important source of risks and uncertainties, the banking and financial markets of most of the states were marked by successive waves of turbulence, central banks reverted the task of ensuring financial stability to the states and not only achieving the objective of price stability, a primary objective considered fundamental in the operating statutes of central banks. In this context, most of the monetary authorities responded to the challenges of the crisis by implementing restrictive monetary policies during the process of worsening of the financial crisis, and later to resort to relax monetary policy measures, but nevertheless adopting a cautious conduct of monetary policy. This study particularly examines the actions and measures implemented by the National Bank of Romania during the manifestation of the crisis and post crisis regarding the application of the monetary policy in order to ensure the financial stability.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Central bank, Monetary policy, Instruments of monetary policy
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Carmen–Alexandra BALTARIU
 

The purpose of this paper is to assess the scientific literature referring to the value relevance of reported accounting information over a twelve year period starting from 2002. The approach of the paper is a theoretical (conceptual) one. In order to complete the purpose of the paper we selected as research method the longitudinal qualitative analysis. The qualitative analysis carried out presents a deductive character. Our conclusions regarding the general characteristics of the research field pertaining to the value relevance of reported accounting information are drawn based on the main results and scientific contributions identified in the research field of interest.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Value relevance, Consolidated reporting, Accounting information, Literature review
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Lenuța CARP (CEKA)
 

The aim of the current paper is to emphasize the correlation between FDI inflows and GDP growth rate in selected countries from Central and Eastern Europe (CEE). The dynamic of FDI inflows and GDP growth rate have been significantly affected by the current economic crisis, which has led to a decrease in foreign capital inflows and a restrained of investment projects. However, macroeconomic imbalances and increased volatilities have determined a strong contraction of GDP growth rates in these economies, except Poland which was the most resilient to worldwide shocks. The results show a unidirectional causality between FDI and GDP growth in all cases, except Hungary. Further analysis will be developed testing the impact of foreign flows volatility on GDP growth.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Foreign direct investments (FDI), Economic Growth, Granger Causality, Crisis
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Anda CRISU – CIOCÎNTĂ
 

The property right has been acknowledged as one of the personal fundamental rights since a very long time. It enjoys complete legal protection provided on the top of the national legislation hierarchy by constitutional norms as well as by juridical norms specific to the various legal branches where the property is present. The property right is protected consistently and by means of the criminal law, mainly by those juridical norms that incriminate the illicit behaviours which bring prejudice, as well as by the norms that regulate other criminal right institutions such as those ones which are specific to the safety measures with a patrimonial character. After examining the juridical norms that protect the property, the conclusion is that the juridical protection is awarded only if the property right has a licit character.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Private property right, Criminal protection, Constitutional guarantees, Liceity presumption, The licit character of the property
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Elena EVA
 

This paper aims at analyzing the professional secrecy of lawyers within European States, both theoretically and practically. The right to defence – the corollary of any real democracy –is unconceivable in the absence of the service provided by lawyers, while the rights and freedoms of people would be seriously damaged were there not a guarantee for their protection and defence, including through means specific to the lawyer’s profession. Professional secrecy of lawyers does not have a juridical or contractual nature, but a legal one; it springs from the law and it is contained in the professional status of lawyers. The purpose of this study is to underscore the similarities and differences within the legislations of the countries studied; both analysis and synthesis are fructified in the elaboration of this study. Precisely this analysis in parallel and in juxtaposition will open the way for future effective research.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Professional secrecy, European state, Lawyer, Criminal law
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Lavinia Mihaela GUȚU
 

Banks are important cells in the economy as they have a significant role by maintaining and encouraging the development of economic sectors. They refocus the resources from those who have surplus to those which have a deficit. Therefore, as any other enterprises, performance is highly desirable for banks and, then, it is crucial to discover what the main factors that influence this objective are. So, this paper analyzes the microeconomic factors affecting bank’s financial performance focusing on 11 entities for the period between 2003 and 2013. The performance is measured by return on assets. The independent variables used are bank’s size, financial leverage,loans to assets ratio, deposits to assets ratio, number of employees, liquidity, net result and monetary policy rate. The results show that bank’s size, loans to assets ratio and liquidity have not a significant impact on performance. Financial leverage has a negative impact, meanwhile the number of employees, deposits to assets ratio and net result have a positive effect.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Financial performance, Return on assets, Microeconomic factors, Bank performance
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Gabriel JINGA, Mădălina DUMITRU
 

During the recent years the stakeholders are asking for other pieces of information to be published along with the financial one, such as risk reporting, intangibles, social and environmental accounting. The type of corporate reporting which incorporates the elements enumerated above is the integrated reporting. In this article, we argue that the information disclosed in the integrated reports is prepared by the management accounting, not only by the financial accounting. Thus, we search for the management accounting tools which are used by the companies which prepare integrated reports. In order to do this, we analytically reviewed all the reports available on the website of a selected company. Our results show that the company is using most of the management accounting tools mentioned in the literature review part.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Management accounting, Tools, Integrated reporting, Case study
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Oana Mihaela MARIOARA (ORHEIAN)
 

The objective of this paper is to study the relationship between changing sovereign risk rating given by credit rating agencies for Romania and CDS of this borrower on the international capital market. For this purpose was used event study methodology type, the event is changing the qualifier sovereign risk by Fitchratings over the period June 2008 - August 2011. Two events are considered, one of worsening sovereign risk qualifier another one of the improvement. In case of increased risk, the main conclusion is that CDS continues moving after the announcement in the direction triggered before the event. If case of risk reduction, the market anticipated positive change of sovereign rating, the reaction is strong on the day the notice of the event and favorable effect remains in the window + 20 days.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Sovereign risk rating, CDS, Rating agencies, Economic crisis
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Cristina Teodora POP
 

The right to happiness implies also the fact that the right to protection of health should be assured, as being a fundamental right stipulated in both the Romanian Constitution and the main international and European acts that Romania is part of. A form to guarantee this right at the level of each country is the one realized through the means of the criminal law. In this purpose, the analysis of the particularities of the infringements against life and of the ones against health is more than important. Having as a reference point the right to happiness, the present article focuses on some of the new infringements, which were introduced in the Romanian legislation by the New Criminal Code, entered into force on the 1st of February 2014, namely the ones that protect the social relations concerning the beginning and the end of life.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Fundamental rights, The right to life, The right to protection of health, Criminal responsibility, Patient
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Oana Cristina POPOVICI
 

In the world of knowledge economy and competitiveness in which we live today, the economic growth is built on innovation. Our interest in the present paper is to find if innovation is a factor that shaped the attractiveness of EU location for foreign investors during the economic crisis. In this respect, we use the Pearson correlation coefficient. We find weak correlation between innovation and FDI stocks at the EU level during 2006-2013, with a higher and significant correlation between the two variables in the new EU countries until 2009. We do not find significant correlations in the old member states, probably because the group of member states is too heterogeneous. Also, we obtain significant positive correlation only in 11 countries out of 28, without identifying any preference related to the EU adhesion moment.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Foreign direct investment, Innovation, Pearson correlation coefficient, European Union
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Aurica-Iris ALEXE
 

This paper analyses the labour immigration trends in Romania in the context of an evolving institutional, social and economic environment. It investigates the access and participation of the immigrant workforce into the Romanian labour market through the main labour market indicators and it provides an overall view on the immigrants’ labour market integration by using different migrant specific data and descriptive statistics. The paper discusses the advantages and possible socio-economic consequences related to filling labour shortages by means of immigration and the how the labour immigration in Romania is taking shape as a result of employment policies and immigration regime. Furthermore, it reflects on the relevant legislative, institutional and policy developments that impact on the immigrants’ labour market integration in Romania. This research highlights how Romania makes use of the immigrant human capital and whether the characteristics and skills of the immigrant workforce represent a competitive resource on the national labour market.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Labour market, Immigrants’ integration, Labour Migration, Employment, Labour market indicators, Immigrant Workforce
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Anisoara Niculina APETRI
 

The main challenges currently faced by most central banks are generated by the effects of the economic and financial crisis. Thus, at the national, European and international level there is a trend of changing the economic governance structures and improving the regulatory and supervisory policies, focusing on macro-prudential oversight. In the context of changes at the European Union level, the central banks of the Member States become also subject to changes in their carried out actions. The objectives of this research aim mainly at: highlighting the role of the National Bank of Romania in regulating and supervising the banking system in Romania and analyzing the measures implemented by the National Bank of Romania after the crisis so far; identifying the challenges of the National Bank of Romania on the basis of changes operated by European Union at the supervisory framework level.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Central bank, Monetary policy, Regulation and supervision of the banking system in Romania
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Zeyneb GUELLIL, Fatima Zahra ALIOUI, Soufyane BADRAOUI
 

The Global Economic Crisis and 2008 financial crisis, is considered by many economists the worst financial crisis since the Great Depression of the 1930s , The financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. It is a situation where macro indicator like economic growth rate fall in most countries across the world. “Although economists largely failed to predict this global economic seismic shock, they have since made up for their oversight by generating a large and growing literature explaining the crisis.” In this discussion paper explores what happened and what issues arise from the Global Financial Crisis on the global economy and the Algerian economic in particular.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: The global financial crisis, Impact, Algerian Economy
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Andreea C. BENDOVSCHI
 

Technological evolution becomes more and more a daily reality for businesses and individuals who use information systems as for supporting their operational activities. This article focuses on the way technological evolution changes the accounting practices, starting from the analysis of the traditional model and trying to determine future trends and arising challenges to face. From data input to consolidation and reporting, accountants’ function and operations are dissected in order to identify to what extent the development of new concepts, such as cloud computing, cloud accounting, real-time accounting or mobile accounting may affect the financial-accounting process, as well as the challenges that arise from the changing environment.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Accounting, Cloud computing, Evolution, Real-time reporting
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Lucia P. BLĂJUȚ
 

This paper highlights the role of international mergers and acquisitions in corporate integration. The factors that stimulate mergers and acquisitions activities bring real changes in the world economy. Mergers and acquisitions are a form of expansion: mergers can take place either as a statutory merger or consolidation and minority, majority or full acquisitions dominate the international market. It is very important to not confuse the meaning of the two terms. Multinational companies are forced by the competitive environment to adopt new strategies to penetrate a particular market and decrease the position of competition on global market or to counteract competitor action on the other market. Cross-border M&A is functionally classified in horizontal, vertical, concentric and conglomerate. The balance between these types of M&A has been changing over time and the distinction among these four categories is not always clear-cut.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Mergers, Acquisitions, Cross-border M&A
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Carmen BOGHEAN
 

Financial innovation, the deficiencies of corporate governance, moral hazard, easy money policies, government inefficiency, and mainly the activity of the shadow banking system have all played a critical role in setting off the global financial crisis. Due to the imbalances it has triggered, the shadow banking system has been at the core of the most widespread and profound world crisis of all time, as the attempt to use financial capital as efficiently as possible by resorting to “innovative” products has significantly contributed to the advent of the financial crisis. The present crisis has already proved that the banking and financial activity can have a deeply disturbing impact on our economy, but the flexibility of lending mechanisms and the various reactions of the players on the market that are otherwise inherent in a dynamic economic system, cannot exist in the absence of banking mechanisms.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Financial crisis, Financial system, Shadow banks, Financial innovations
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Irina BONCEA
 

The aim of this article is to identify whether Romania is facing the brain waste in the medical sector. Romania is producing the highest number of medical graduates compared to the main destination countries for Romanian physicians.However, it faces critical shortages in terms of health professionals. What happens with these medical graduates? Two options are possible: either they exit the medical system or they emigrate. Medical doctors accepting locum doctors positions in United Kingdom or general practitioner positions in the rural areas in France although they have a specialty in the origin country are examples of brain waste. In most of the cases, these positions are refused by natives. If the brain drain has negative consequences on the origin country, brain waste affects both the country and the individual.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Brain drain, Brain waste, Medical sector, Romania
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Beniamin G. BOŞCAI
 

Based on technological evolution and a very large number of users, the Internet plays a key role in attracting talented employees which can generate competitive advantage for the organization. Therefore nowadays niche websites, specialised recruitment sites, become increasingly important. With the creation of such sites also appeared several applications for recruiting. The purpose of this paper is to analyze these sites and applications in order to determine the advantages and disadvantages of specialised recruitment websites (1), career sites of organizations (2) social professional sites (3) . Using these online recruitment tools lead to the development of e-recruitment. Our conclusion is that these websites do not represent yet a universal solution for organizations although the number of users is growing. For being successful in the recruitment process, recruiters have to combine niche websites in recruiting and not use only one type of niche websites.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: E-recruitment, Human resources, Niche websites, Online recruitment tools
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Sorin BRICIU, Dimi OFILEANU
 

Cost reduction, productivity increase and creating value for the client are just a few of the arguments that managers use when they adopt Lean philosophy. Businesses’ concern is to create products that have value in the eyes of the client, continuously analyzing the existing value stream in order to improve it. Value stream mapping (VSM) is a technique used to visually present the chain of processes, within the company, necessary to obtain the product. Due to the many advantages and to the ease of use experienced by Toyota since the ’80, VSM use has constantly increased as this activity improvement technique was discovered by managers. The article presents a case study of the application of VSM in footwear industry.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Lean, Value stream, Value stream mapping, Footwear industry
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Gabriela CĂPĂȚÎNĂ, Roxana-Denisa STOENESCU
 

This article explores one dimension of green marketing programs: their potential application as a solution in achieving and maintaining the ecological sustainability on global market. We examine the necessity to develop and launch green products which can respond to environment degradation as a treatment against this phenomenon. This paper is structured in three sections: the first section is related to a clear delimitation and a better understanding of terms; the second one is an overview of the literature about ecological sustainability; the third section is the most relevant part of this paper because is trying to shape a framework of marketing programs for the development of green products, considering the decisions related to marketing mix elements. Even if green marketing programs make sense, current understanding of how managers can start to develop or transform their marketing efforts is far from comprehensive; therefore, this study is addressed to this knowledge gap.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Marketing programs, Green products, Ecology, Sustainability, Marketing mix
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Elena CHIȚIMUȘ
 

Corporate governance is the system through which companies are directed and controlled but until today academic environment, regulators, corporations couldn’t reach a unanimous definition. Corporate governance provisions suffered changes after several largely covered financial scandals. Entities incur costs when complying with new regulations but not complying impacts the reputation and investors might think twice before bringing their money into the company. Accountability for business decisions, risk management, control that set the economic path of the company is mandatory for proving that the company is run in a fairly and smart way. This study aims to investigate how corporate governance relates to accountability of all parties involved in the current business of companies as any conflict of interest is detrimental to the company and affects in a negative way its performance.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Corporate Governance, Board of Directors, Ownership, Control
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Gabriela CIOBANU, Constantin LUCA, Octavian CIOBANU
 

An innovative European training programme for salespersons of medical devices, assistivetechnologies and food supplements was launched in 2014 with 6 partners from 5 European Union countries (Turkey, Bulgaria, Romania, Austria and Belgium). The project, called “Launching of Sector Skills Alliance for Training & Apprenticeship of Health Care and Food Supplements Salespersons” (H-CARE), contributes to the Europe 2020 growth strategy in particular to the European Union’s employment rate target of 75% by 2020, by helping people learn new skills and adapt to changes in the labor market. By development of a new occupational job profile in Health Care Sales the project will encourage the employment in this sector. The project offers exactly new skills for new jobs Agenda, providing opportunities for the inclusion of unemployed or low paid people in the European Union job market.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Training programme, H-CARE Project, Health care sector
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Alexandra CIOCLOV (PETCU), Petru ȘTEFEA
 

Assessing the performance of business organisations has been a priority for all stakeholders, and this is the reason accounting has continuously evolved to better assist investors in their decision-making process. However, given the increasing importance of the service industry, the focus in evaluating business performance is also on employees’ performance and employee-centred organisational policies that would further stimulate the knowledge-production at the firms’ level. As many accounting professionals have already understood, accounting faces the challenge of a continuous adaption to the necessities of the business environment, thus admitting that it should provide the grounds for a sustainable and generalizable methodology for intellectual and, more particularly, human capital recognition. This paper offers a literature review on intellectual capital management and reporting, leaving room for the debate upon the choice of instruments that would ensure an accurate presentation employees’ added-value to organisational performance. It also presents a schematic approach to further develop the subject, describing the proposed methodology for further in-depth research.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Intangible assets, Intellectual capital, Human capital, Reporting
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Zina CIORAN
 

The purpose of this article is to evaluate the efficiency of the monetary policy impulses transmission on inflation and unemployment in Romania, through the interest rate channel and to show the role played by interest rate in the transmission mechanism of monetary policy impulses. I have also revised a variable’s response to the shocks of another variable VAR analysis. VAR analysis on Romania during 2005 - 2013 shows that an interest rate shock can explain the movement in inflation and unemployment rates. We find that there are significant changes in the interest rate based on the inflation rate, and vice versa, due to the relationship of co-integration between variables.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Monetary policy, Inflation rate, Unemployment rate, Interest rate
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Cristina CIUMAȘ, Diana-Maria CHIȘ
 

Unit-linked contracts are wrapped with some death, maturity and accumulation guarantees such as the guaranteed minimum maturity benefit, the guaranteed minimum death benefit, the guaranteed minimum accumulation benefit, the guaranteed minimum income benefit, and/or the guaranteed minimum surrender benefit. According to Romanian legislation which regulates the unit-linked life insurance market, unit-linked life insurance contracts pass most of the investment risk to the policyholder and involve no investment risk for the insurer. Although the Romanian legislation authorizes the Romanian insurers to offer unit-linked contracts without investment guarantees, this research provides a proposal of a theoretical and empirical basis for modelling liabilities for unit-linked insurance contracts with incorporated investment guarantees. The aim of this study is to offer an optimal theoretical approach for simulating liabilities for unit-linked life insurance contracts with incorporated death benefit and maturity benefit.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Guarantee, Liability, Unit-Linked, Death Benefit, Maturity Benefit
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Cristina Anca COLIBABA, Stefan COLIBABA, Rodica GARDIKIOTIS
 

The Digital timelines project (2014-1-UK01-KA204-000071) co-financed by the European Union under the Erasmus+ programme and coordinated by the Lancaster and Morecambe College, UK addresses the issue of dementia. The project relies on thorough research on dementia carried out in five European countries and aims at producing a training programme and creating digital resources which can encapsulate memory stimulating information from a variety of media to benefit specifically the person with dementia and their family and friends, as well as professional carers. New models of coordinated and non-pharmacologic rehabilitative care systems meeting the needs of individuals with dementia and their family members are imperative in order to respond to the increasing number of individuals living in the community with this devastating disease.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Dementia, Digital, Memory
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Andreea Ioana COSTE, Adriana TIRON-TUDOR
 

The article investigates the main performance indicators took into consideration when the management is measuring the performance of the university. The study is based on interviews with top management and middle management at Romanian public universities. Thus, the paper uses a qualitative research. According to the results, an essential indicator for performance measurement is represented by the number of the students. The public funding gives the motivation of the importance of the indicators. The public funds are allocated based on the number of enrolled students. As a public institution, performance measurement represents a central issue for showing to users how well is performing the organization.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Performance indicators, Performance measurement, Higher education, Public sector
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Alexandrina D. CRUCEANU, Ionel MUNTELE, Mihaela-Daniela CAZACU
 

Both at national and international level,medical tourism in general and the therapeutic in particular tend to be more and more often prescribed and utilized as an extremely efficient alternative therapeutic practice in treating various medical affections with almost the same positive results as the ones obtained after therapies/treatments under medication,but with fewer financial resources.Vatra Dornei resort owns a great diversity regarding both natural therapeutic factors(climateric,mineral,hydromineral,pedologic therapeutic factors,moffettes,aerosols,etc.) and the spectrum of affections treated(from simple anaemia to complex disease of the locomotory,muscular system,etc.). Practiced since the 19th century,medical tourism (which turned Vatra Dornei resort into a “Meca of recovering”) has represented and continues to represent at present an important attraction factor for the tourists who choose to spend their holidays for recovering and maintaining health state.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Medical tourism, Therapeutic resort, Therapeutic techniques and procedures
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Alexandrina D. CRUCEANU, Ionel MUNTELE, Mihaela-Daniela CAZACU
 

The natural and anthropic potential of a geographical space/territory/area can sometimes represent degrees of intensity,essential condition for an area’s economic development,reason for which its valorization is often imposed as a sine-qua-non condition for maintaining acquired status.Vatra Dornei town and the rural areas in its proximity are generically known as Tara Dornelor,especially due to the demographic,socio-economic,cultural structures relatively similar,which have evoluated,in the last centuries,in different contexts and political territories (Moldova,Bucovina,Transilvania). The present study proposes,on one hand, the identification,as possible,the inventory of the existent touristic potential in this geographical area and on the other hand the analysis of the main forms of tourism practiced,as well as their present valorization possibilities in the context of a necessary and continuous adaptation to the society’s evolution in general and of touristic practices in particular.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Natural touristic potential, Anthropic touristic potential, Valorization
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Mădălina Laura CUCIURIANU
 

Global trade has an important characteristic in terms of open global markets by means of eliminating barriers to trade and investment. The United States and the European Union, two major international actors and competitors in the economic field, have both the opportunity to change the global trade by concluding the negotiations of the Transatlantic Trade and Investment Partnership. For this reason, this paper tries to find the connections between global trade and transatlantic competitiveness in the way that the global trade can be considered a key to transatlantic competitiveness. The United States and the European Union are global actors and competitors in the global economy and the play field is the global trade. In order to be aware of the importance ofglobal trade in the transatlantic competitiveness, this paper includes also an analysis of the concrete actions that both economic powers are taking in key-sectors of the transatlantic economy.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Global trade, United States, European Union, Transatlantic competitiveness, Transatlantic Trade and Investment Partnership
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Cristian-Florin DĂNĂNĂU
 

We empirically investigate through an econometric approach the Romanian credit market, namely the lei-denominated part of it, and the factors that interact with it. The main goal is to assess whether a credit crunch ocurred in Romania during the economic crisis. To this end we employ the disequilibrium model framework, set up in economic literature some 40 years ago. Our investigation takes into consideration the main macroeconomic determinants of this market, that interact with demand and supply. Our approach has in view the macroeconomic variables such as output, interest rates and foreign currency credit. The demand and supply function are estimated through the maximization of a certain maximum likelihood function. The final conclusion is that, based on the estimated model, one cannot detect a credit crunch in the after-crisis period. This paper’s results show that empirically-constructed disequilibrium models can be used to properly describe the behavior of the lei-denominated credit market, by taking necessary precautions.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Non-governmental credit, Disequilibrium models, Maximum likelihood, Co-integration, Credit crunch
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Raluca Gabriela DULGHERIU
 

The problem of the economic convergence and divergence in the European economic integration process falls within the current concerns of specialists within the economic field. In this sense, the present study addresses the issues of the economic convergence and divergence analysis, both at the level of the Member States and of the candidate countries to the Economic and Monetary Union. This paper aims at the process of European economic integration on the two axes: the nominal and the real one. The analysis results show the need for prior harmonization of the real and nominal convergence process towards joining the euro area, in order to prevent slipping after the adoption of the single currency. The nominal convergence process from the candidate countries needs also a coherent setting of speed and sequence so as not to cause delays and distortions in the development of the real convergence.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Nominal convergence criteria, Real convergence process, Euro area, Member states, Candidate countries
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Elena EVA
 

Lawyers are not immune to committing offences and the provisions of criminal law apply to them accordingly. The criminal liability of lawyers represents a natural aspect in the rule of law. Lawyers involved as defendants in criminal cases do not benefit from any special status or privileges compared to other defendants. In the international context of the fight against money laundering, the community law has submitted the profession of lawyer to two obligations concerning vigilance and denouncement. The assimilation of lawyer’s profession to financial or non-regulated professions entails the deformation of rules and principles specific to lawyers, as well as discussing the bases of any democratic society: the professional secrecy of lawyers and their independence.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Money laundering, Lawyer, Special criminal law, European State, European Directive
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Ionelia-Alexandra FELDIOREANU
 

This study aims to investigate the quality of the Web sites content of the companies from the IIRC Pilot Programme in 2013 and how corporations use their Web sites to emphasize the environmental responsibility. We try to determine the quality of the web sites of by the organizations included in the IIRC Pilot Programme in 2013 and their ability to support the access to environmental elements. In the first part, the paper tries to review the existing literature regarding the quality of the Web sites especially regarding their attitude towards presentations of the informations through their Web page. And in the second part we present our result.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Integrated reporting, Web content, Environmental concerns, Transparency, IIRC Pilot Programme
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Alexandra GALBIN
 

Social constructionism, a postmodern approach with epistemological assumptions, brings new resources for organizational interventions. A key element in organizational development, the discourse plays an important role in fashioning the future of this. This article presents the organizational discourse as a symbolic action in which discourse influence behavior of members and reinforces mindsets. Discourse shapes the relations between individuals, and creates mental frames. Create change by changing the discourse generates fresh new possibilities and innovative forms to look at a situation. Constructing a positive organizational discourse offers a great potential for social change and address challenges and advances thinking in the organizational field.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Discourse, Organizational change, Social constructionism
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Ana-Maria GEAMÃNU, Mihaela DUMITRANA
 

The offshore company, the emblem of the tax haven jurisdictions, is owned by non-residents and it conducts activities outside the island of incorporation in order to benefit from tax advantages. The purpose of this paper is to conduct a comparative analysis on the trends of constructing the offshore corporate structures at the level of five regions where tax havens have been identified: The Caribbean Sea and Central America; Europe; Asia; The Indian Ocean and The Pacific Ocean. Based on the tax and corporate legislations the analysis is focused on the main tax advantages offered by these entities, the incorporation and administration procedures as well as the costs involved. The results have shown that pure offshore corporate legislation is to be found at the level of only three geographic areas: The Caribbean Sea and Central America; The Indian Ocean and The Pacific Ocean and the offshore law is predominantly international, with only fine regional differences.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Tax haven, International Business Company, Limited Liability Company, Exempt Company, Organization for Economic Cooperation and Development
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Ana-Maria GEAMÃNU
 

Tax havens have long been under the attention of numerous Governments and International Organizations which triggered the concern of an uneven playing field in the taxation area. As a result numerous amendments have been made to both their commercial and tax legislations in order to be in line with the internationally agreed tax standards. The aim of this article is to conduct a SWOT analysis on the offshore corporate structures found in the Caribbean landscape. Based on a selection process of the most commonly recognized tax havens in the Caribbean region and an analysis of their offshore companies at the level of incorporation, administration, activities conducted and costs, a set of frequently met characteristics have been identified which stand at the basis of the SWOT analysis. The results stand to present a comprehensive four dimension framework of the offshore corporate structures in regards to their strengths, weaknesses, opportunities and threats.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Tax haven, SWOT Analysis, Offshore company, International Business Company, Limited Liability Company, Exempt Company
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Maria HERMEL-STĂNESCU
 

Performance management is a complex concept that integrates all business activities and creates a continuous system for improvement. One of the key ingredients in an efficient performance management system is a well-designed performance appraisal that integrates the individual goals with the team and organization goals. When designing a performance appraisal system one has to consider the many existing techniques, tools and sources of error. Also, when defining the expected results and KPI’s for measurement, it is important to know the difference between output and outcome. The present paper aims to synthetize, through a literature review, the main aspects of performance appraisal in the context of performance management, pointing out its advantages and disadvantages.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Performance appraisal, Performance management, Evaluation, Management, Business performance
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Anca-Simona HROMEI
 

Nowadays, merger transactions are more and more popular, even at the level of Romania. Together with this trend, the need to identify whether these restructuring operations lead to the expected results becomes increasingly evident. This paper aims at analysing the financial performance of 87 Romanian companies from the trading sector, which participated in merger deals during the year 2011. It was considered that the three years’ evolution of the return on equity (ROE) and the return on assets (ROA) rates could offer a complete image of the financial condition of the companies and the way these were influenced because of participating in the merger. These return rates were also compared with the medium levels recorded nationally for the same activity sector. It was found that in terms of both ROE and ROA the absorbing companies were negatively influenced, the medium-term financial performance being affectedbecause of the restructuring, their majority even failing to reach the average sectorial levels.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Mergers, Financial performance, Return on Assets, Return on Equity
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Raluca-Elena HURDUZEU
 

An organization is considered to be effective if it finds the balance between the demands of various stakeholders (owners, employees, customers, community) and the needs of the employees. We believe that an appropriate leadership style can influence and ensure the prosperity and the economic growth of both the organization and employees. Therefore, the aim of the paper is to explore the impact of leadership styles on the organizational performance. Our main focus is on transformational leadership and its role in facilitating the increase in organizational performance. Transformational leaders inspire individuals within the organizations to work harder and to strive for the highest levels of performance. We begin by underlining the connection between transformational leadership and organizational performance, we provide examples on transformational leadership practices’ impact the organizations and we conclude by making some future research propositions.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Leadership, Transformational leadership, Organizational performance
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Andreea IANCU
 

This article approaches the post-2015 Millennium Development Goals agenda through the human security paradigm. It suggests that the human security paradigm represents “the missing link” from the development agenda. Therefore, this analysis explains the necessity for extending the development agenda by including the human security doctrine. The first part of the article discusses the relation between human security and development. The next section analyzes the values of the Millennium Declaration and the Millennium Development Goals. The last part evaluates the improvements that the inclusion of the human security on the post-2015 development framework may bring. The results of this analysis present illustrate the opportunity of deepening the MDGs agenda with a more realistic and ethical approach, through the inclusion of the human security paradigm within the development agenda.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Human Security, Millennium Development Goals, Human Development, Post-2015 Development Agenda, UN Global Conversation
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Mihaela IAVORSCHI
 

The liberalization of capital movements between states and of the trade of goods and services, are one of the most important phenomena in the current world economy. The purpose of the present study, in the case of Romania, is to answer the question whether the interventions by means of the exchange rate of the national currency contributes to the fluidization and improvement of the commercial trades. The study demonstrates that the leu devaluation does not lead to a substantial increase of the exports. As a mechanism of influence of the commercials flows, the exchange rate has a short-term influence and the economy requires structural reforms, meant to stimulate the growth of the economic competitiveness.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Exports, Imports, Exchange rate
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Ciprian IFTIMOAEI
 

The concept of “good governance” was used for the first time in the 1989 World Bank Report – Sub-Saharan Africa: From Crisis to Sustainable Growth. A Long-Term Perspective Study – and has already made history in international studies, especially after the breakdown of the communist regimes. The governance has to do with authority, decision-making and accountability.The good governance is defined as the capacity of the government to manage a nation’s affaires, to provide economic development, welfare for citizens, and social protection for the poor. In this article,the concept of good governance is analysed according to two main dimensions: the normative dimension which comprises principles, values and norms that are guiding the international community and the governments in the management of policymaking process;the descriptive dimension which refers to the practical aspects of implementing the good governance’s standards as policies, programmes and structural reforms with the aim of solving or ameliorating the problems of developing countries.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Governance, Good Governance, Normative Dimension, Descriptive Dimension, International Donor Community
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Alina-Costina LUCA, Corina Anamaria IOAN, Florin-Alexandru LUCA
 

Once the global economic crisis occurred, shortly after the collapse of Lehman Brothers, trillions of dollars were lost on the stock exchange, hundreds of banks and investment funds in the US went bankrupt and thousands of companies were forced to declare bankruptcy. Its effects were felt then, in very short time also in Romania, following that in 2009, Romania went officially in recession. Beyond the financial implications the crisis has on the whole activity, regardless of the field, the economic and financial effects of the crisis on health and health policies can have very long term consequences.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Economic Crisis, Paediatric population, Health
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Ion Gr. IONESCU
 

Given the highly complex nature of tourism activity, the structure of each company, but and the issue of marketing programs, which is very diverse, it seeks to adapt them to the specific needs of each facility, in order to thereby contribute to the improvement work their leadership. To successfully accomplish the proposed objectives marketing plan of the company, it is necessary to develop a marketing program, through which establishes the sequence of activities to be undertaken and specifying the amount of resources required. To be more conclusive, we used a simple methodology, starting, from simple to complex, from theory to practice, from the abstract to the concrete, with examples required. The case study aims to become a model for action and adaptation to specific tourism company, financial and economic conditions, competition, time of economic crisis, with significant results, profitable and increase market share.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Tourism, Marketing, Travel Agency, Marketing Mix, Strategies Forms
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Ariadna-Ioana GAVRA JURAVLE, Constantin SASU, Geanina BUBĂSCU
 

The aim of this paper was to obtain qualitative information from the decision-makers in Bucovina in order to identify their attitude in terms of tourism promotion and their level of information regarding promotion, tourism and tourists. We set four objectives: analyzing the level of awareness regarding the benefits provided by tourism for the municipality and the locality; identifying the level of information regarding the range of services available for tourists in the localities where the mayors carry out their activities; determining the attitude of the decision-makers vis-à-vis promotion and identifying the perceptions of the interviewees regarding the place of promotion in tourism development. The research method we used is qualitative research, namely the in-depth interview.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Qualitative research, Tourism promotion, In-depth interview, Bucovina village, Decision-makers
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Niculina KARACSONY
 

At European level crime among children represents a contemporary issue and in Romania, the philosophy of the new penal code approved by Law No 286/2009 is shaped around punishment. Prevention policy in Romania and juvenile justice objectives relative to age criteria outlines two different legal manners to address children's liability under the law. One is targeting the category of children between 0 and 14 years of age, which consideres the absolute inability of criminal responsibility and one that provides criminal liability starting from the age of 14. The sensitivity of the issue of children involved in unlawfull acts and the inventory of responses to it brought me to the necessity of research the types of approach and diversity of social services built around this target group.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Child offender, Crime, Criminal liability, Criminal responsability, Punishment, Juvenile justice
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Alina-Costina LUCA, Mirabela SUBOTNICU
 

A growing number of children and adolescents drinking alcohol have become a global issue. Drinking alcohol at a young age is associated with alcohol dependence in adulthood and numerous further medical and social issues. Alcohol (ethanol) is the oldest drug used since the dawn of civilization, being used as food, medicine or for religious and social purposes. It was considered a gift from gods, a belief that persisted for centuries. Although it was regarded as healing and tonic for the body, its abuse was condemned. First alcoholic beverages were those fermented naturally, wine and beer, distillation appeared during the 8-9th centuries.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Alcohol, Adolescent, Prevalence, Consequences
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Alina-Costina LUCA, Mirabela SUBOTNICU
 

Congenital heart malformations are among the most common congenital malformations. Congenital heart malformations occur due to genetic and environmental factors during embryonic morphogenesis period of the heart. About 25% of these malformations are severe, requiring intervention immediately after birth or in infancy. Abnormalities of structure and function of the heart and great vessels are the consequence of teratogenic factors occurring between day 19 and 45 of gestation (Yagel et al, 2002; Socoteanu, 2010). According to WHO, global incidence of congenital heart diseases (MCHC) is 8 per 1,000 live births and show an upward trend. In the US, an incidence of 6 cases per 1000 live births was reported in 1968 (Hoffman, 1968) and it is much higher nowadays, more than 12-14 cases per 1000 live births (Hoffman, 1995).

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Teratogenic, Pregnancy heart malformation, Prevention
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Ionela-Viviana LUCA
 

After a true initiatory journey, with dramatic sequences when it seemed that he lost his identity, Barbarius manages to return to his own self, the real man who can love and be loved. At the end of the novel, the protagonist achieves that much desired inner balance along with Dr. Zamfirita Micescu. However, we can not speak of eros without taking into account the desire, because the place where desire appears, also appears the needs to satisfy it. The feeling of fullness, inner balance, satisfaction manages to materialize through the harmonious fusion between the two forms of eros, namely sexuality and spiritual love. Therefore, we can state that along with Dr. Micescu, Caesar achieves a high hypostasis of eros. The narrator admirably manages to capture the reader's attention from the first chapter of the novel, which describes a passionate scene, of heartbreaking love that ends in a perverse cruelty and murder.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Hypostasis of eros, Murder, Desire, Dramatic sequences, Sexuality
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Khamid Khudaybergenovich ABDURAMANOV, Lutfullo Ziyadullaevich IBRAGIMOV
 

For the role of the population of the Republic of Uzbekistan in the Commonwealth of Independent State (CIS) countries was given an assessment. In the years of independence (1991-2014), growth dynamics were formed of the population of the country and was identified influences to the demographic, social and economic factors. It was divided into groups of growth rate of territorial population of the Republic of Uzbekistan. Any geo-demographic news on the territory of Uzbekistan can be finding in Tashkent city and Tashkent region and in two directions: the extension to the south-west and east were based. It was analyzed the structure of population in the republic and it was scientifically based that the rate urban population was increased; on the other hand, the rate of rural population has been decreased. Urbanization rate of the territory of the Republic of Uzbekistan is divided into low, medium and high.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Demographic policy, Divorce level, Demographic processes
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Ruxandra-Adriana MATEESCU
 

This study aims to review previous developed studies regarding the institutional investors’ issue, as the influence they exert in the companies they invest in is growing in importance. In the first part, the paper tries to review the existing literature regarding the institutional investors’ research theme, especially regarding their attitude towards investment, while the second main part will try to describe the presence of institutional investors in Romanian listed companies. Also, the paper aims to review previous studies regarding the influence of institutional investors over corporate governance mechanisms (especially board’s members’ independence and composition) and financial and non-financial disclosure practices.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Institutional investors, Corporate governance, Segment reporting, Transparency
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Laura DIACONU (MAXIM), Andrei MAXIM
 

The aim of the present paper is to investigate the role played by the organizational culture to the success of the USA low-cost airlines, taking as example two major operators: Southwest Airlines and JetBlue. This exploratory research was conducted using two methods. An analysis of the secondary data offered by the specialized literature was followed by primary data collection, through structured interviews with the representatives of Southwest Airlines and JetBlue. The results show that the success of the two low-cost airlines was based not only on their cutting costs strategies, but also on the organizational culture they have promoted during time. This organizational culture is based on closed relationships between the employees, clients and suppliers, among which the communication is simplified and transparent. These particularities of the two operators have made huge differences between them and other low-cost airlines in terms of resilience to the economic downturns, increased number of transported passengers, of revenues and profits.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Organizational culture, Low-cost airlines, Attention to clients, Attention to employees, Code of Best Practices
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Carmen-Mariana MIHALACHE
 

The purpose of this paper is to highlight the fact that the modern national state, oscillates on an orbit of conflict of laws, often marked by delegations of powers from the national to the supranational level. The movement of people, goods and services have always pointed out, through their national element, the appearance of conflicts of laws in the context of their migration to other national spaces, being carriers of cross-border implications. This issue is characterized by geopolitical developments in the international community that created the United Nations Organization and other alliances and delegated competence of interstate conflicts to the International Court of Justice on the one hand, in order to avoid another world conflagrations. In another train of thoughts the geopolitical world is constantly changing and its appearance, the geopolitical construction leads to a new system of law, the European one and other conflicts of laws which I symbolically call national versus European.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Conflict of laws, National spaces, Geopolitical construction, European law
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Mirela MOLDOVEANU
 

"Ambigen" by Octav Şuluţiu is a diary type novel, a subjective, first person confession like the ones of Max Blecher, Mihail Sebastian. Character-narrator explores, analyzes his deepest, hidden emotions, feelings, weaknesses, defects, demons, impossible loves,visions of the world. It is actually an investigation of the subconscious states of a man-woman who hides two genders: male and female, hence the dual nature of the character, bigender. There is an inner battle between the character's masculine and feminine side.The woman inside him needs another woman he can own and the man inside wants a strong woman who can have the male features that he lacks.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Alterity, Identity, Interiority
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Diana MURESAN
 

This paper reviews empirical research that apply Mishkin test for the examination of the existence of accruals anomaly using alternative approaches. Mishkin test is a test used in macro-econometrics for rational hypothesis, which test for the market efficiency. Starting with Sloan (1996) the model has been applied to accruals anomaly literature. Since Sloan (1996), the model has known various improvements and it has been the subject to many debates in the literature regarding its efficacy. Nevertheless, the current evidence strengthens the pervasiveness of the model. The analyses realized on the extended studies on Mishkin test highlights that adding additional variables enhances the results, providing insightful information about the occurrence of accruals anomaly.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Accruals anomaly, Mishkin Test, Market efficiency
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Ana-Maria NEAGU, Liviu Mihail MATEESCU
 

The aim of the proposed paper is to identify a possible cost benefit evaluation of assistive technologies in the context of promoting equal opportunities in life. Equal opportunities represent more than just ensuring an equitable framework for all individuals; equality represents recognition and respect for all individuals no matter the differences among us. The paper debates the issues of equality in the context of assistive technologies advance. The use of assistive technology was found to be predictive of enjoyment of human rights and increased capabilities for those with special needs. Because promoting equality among individuals necessitates more than doing nothing it is obvious that we should think of evaluating the costs and the benefits of such actions taking into consideration socio and economic aspects. The topic has a novelty and an applicability character mostly for our country.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Equal opportunities, Socioeconomic perspective, Evaluation, Assistive technologies
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Angelica-Nicoleta NECULĂESEI
 

This article aims to briefly analyze the research efforts on measuring welfare indices in terms of cultural relativism. It presents the limitations of GDP and some of the proposed alternatives over time, to understand the wideness and interest in this topic, but also the consequences of imposing a certain type of indicators to reflect the progress and welfare of a country. To provide a coherent overview on the proposed subject, the approach starts with the presentation of general acceptation of the welfare concept. Further, the literature review reveals many concerns about the welfare and progress, but also the difficulties associated with this effort. Critical comments generally reflect the need to consider the culture factor in the debate on welfare.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Welfare indicators, Cultural context, Cultural unconsciousness, GDP, GNH, Happiness
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Alina Petronela NEGREA
 

The economic literature and the political discourse typically look at international competitiveness mainly by the means of export market shares. However, globalisation, production fragmentation and the growing importance of global value chains (GVCs) increasingly challenge traditional approaches of export competitiveness and call for a more accurate and disaggregated level of analysis. Due to the growing fragmentation of production, a country exports now include a significant amount of imports of intermediate goods which are part of the export value. In this case, a simple analysis of the evolution of exports can distort the international competitive position of a country. The article suggests a new approach based on the value-added content of international trade measured by means of global value chain analysis.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: International competitiveness, Global value chains, Export performance
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Mirela NICHITA
 

The purpose of this paper is to present a history and an evolution of concepts of risk and risk management in economic, respectively financial fields, highlighting the usefulness (or not) and complexity of tools for risk assessment developed over time. The main objective of risk management is to reduce costs and increase the value of company and stakeholders gains; also, a coherent risk management strategy may improve entity capital structure which will derive in a healthy financing policy. The risk and risk management field has been developed merely after the second world war and creates the favourable context of a new C position in business chart – Chief Risk Officer. The paper will explore the etymology of term risk correlated with the uncertainty. Research on risk and risk management is not possible without taking into account the derivatives market.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Risk, Risk management, Evolution, Risk management tools, Chief Risk Officers
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Carmen NISTOR
 

Although accounts consolidation was used in practice from the early 1900’s its theoretical basis were developed later in concordance with the rise of concepts like “entity” and “group”. The aim of this article is to examine the literature in the accounting field regarding the consolidation theories developed over the years. In order to discuss the different opinions regarding the consolidation theories we used the descriptive approach. As a result we tried to explain how these theories appeared and developed, respectively what consequences have their use in preparing consolidated financial statements. The results of the study suggest that every theory has certain aspects which differentiate it from the others in terms of recognition of subsidiary income and reporting net assets of the subsidiary. However, from all theories analyzed, the entity theory takes into account several guidelines of maximum importance when preparing consolidated financial statements: “You can’t own yourself!”, “You can’t owe yourself money!”, “You can’t make money selling to yourself.”

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Proprietary theory, Entity theory, Enterprise theory, Parent company theory, Parent company extension theory, Residual equity theory
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Laura Cătălina PAȘCU
 

Geopolitics born at the end of the 19th century and reborn at the end of the 20th century, from the need to explain certain issues arising out of the general evolution of human society and the growing influence of permanent politico-economic changes on the human consciousness and the entire system of socio-political life and culture. Also, geopolitics gives us the opportunity to reflect on the manifestation and evolution of power relations within a particular historical period, to assess and track changes and trends in the current system of international relations, giving us indicators and analytical methods about the reality of international relations. The relations of competition versus cooperation between international actors have changed gradually in the 21st century; however, development cooperation can provide solutions or opportunities for defining global problems. Globalization creates a new framework in security and international relations also introduced the geo-economics perspectives to assumed new found geopolitical importance at the outset of the twenty-first century.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Geopolitics; Globalization; International relations; Security; Development cooperation; Geo-economics
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Andreea Maria PECE
 

This paper examines the connection between economic growth and stock market performance in the case of an emerging economy, namely Romania, by using quarterly financial data, during the period 2000-2013. This topic is widely studied in the financial literature and seeks to provide an answer for the following questions: does economic growth influences the capital market, does capital market influences economic growth, or there is no connection between these variables. I have analyzed the long term relationship between economic growth and stock market for Romania, by applying Johansen cointegration test, Granger causality and Gregory Hansen cointegration test, which allows the presence of the structural breaks in the time series. The empirical results obtained highlighted that portfolio investments have a positive impact on economic growth and the GDP growth engages in turn, a long term positive capital markets return. The main conclusion of this study is that in the case of Romanian economy, is a bi-directional link between the economic growth and the capital market performance.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Economic growth, Emerging stock market, Cointegration, Granger causality
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Sergiu Vlad PETCU, Ioan Lala POPA
 

If the entire class of young NEETs would be integrated into work, Romania's GDP would increase by 2%. Faulty implementation of SOP HRD 2007-2013 failed to combat the economic crisis. Thus, at the end of 2013 Romania had over 400,000 young people NEET. In addition to short-term effect of inactivation of the potential workforce, due to aging demographics, the effects of the lack of activity of this category will create a series of negative problems in the social contributions sector. Romania is offered another chance by the Youth Guarantee Scheme and by the Human Capital Operational Programme 2014-2020, but the country must prove having learned from previous experience. The 2007-2013 period shown that good planning in terms of indicators far not guarantee success. Effective implementation of projects and supporting project beneficiaries will sustainable reduce the number of NEETs.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: NEET, Structural funds, Youth Employment, SOP HRD Management
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Sergiu-Vlad PETCU, Alexandra CIOCLOV (PETCU)
 

According to the European Commission, Romania is still facing significant mismatch between the skills of graduates of tertiary education and the market needs. This paper is highly relevant for the future implementation of HEIs, since they have a strong economic role and they can significantly influence long-term national social and economical development. Romania did not manage to materialize community funds allocated for the 2007-2013 programming period to its full potential. Accordingly, the proposed thesis intends to analyse how Romanian HEIs were able to manage community resources attracted by grants and how the implemented projects achieved their set objectives. According to the data collected so far, the results will show that the performance of the projects is directly dependent on the proportion of fully dedicated staff in organizational design of the project. The originality of the undertaken study is that it starts from a realistic approach, according to which the rules of the game should be adapted, depending on the players (in our case – HEIs).

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Project performance, European funds, HEIs, SOP HRD
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Gabriela PICIU
 

In the past two decades or so the Turkish banking system has experienced many changes especially with the liberalization of the financial markets, financial inovations, inovations in the information technology and the increase in the number of financial transactions. With consolidations, competition has grown among banks and they are now competing for smaller profit margins. With all these changes, there has also been a change in the type of risks to which banks are now exposed. If the banking system in Turkey is following the right path as the authorities in Turkey claim then how did the country get into the grip of the banking crisis of 2000-2001? What went wrong and why bank loans turned into bad debts must be examined. The Turkish Experience resulting from the financial crisis of 2000-2001 shows that the country has learned the lesson. The financial crisis of 2008 hadn't an impact so great in Turkey compared with other countries.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Financial crisis, risk management, banking system, Financial intermediation
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Florin POPESCU, Cezar SCARLAT
 

SWOT (strengths, weaknesses, opportunities, threats) analysis is useful in the decision-making process – crucial to any organization manager and/or strategist. This study aims to add value to the existing literature on SWOT, indicating its use and limitations, showing the need to link SWOT to other strategic tools and methodologies. As the current environment is turbulent and unpredictable, and economic cycles no longer comply with traditional rules, the precaution has become extremely important. That’s why SWOT should be supplemented with newer dynamic analysis capabilities and strategy tools, as early warning and opportunities system (EWOS), which can provide crucial inputs for scenario building, strategic thinking and decisions. EWOS is a novel approach based on three concepts that contribute to the ability of organization/project managers to develop outstanding capacity to "understand" and "benefit" in identifying opportunities and threats: (i) business and competitive intelligence; (ii) early warning thinking; (iii) strategic thinking in decision making process. EWOS is of practical use for strategists and decision makers.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: SWOT analysis, Early warning, Early warning & opportunities system (EWOS), Decision making, Organization strategy
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Andreea POPOVICI, Dragos TURLIUC
 

The crisis that affected the global financial stability and the economy in 2007-09 has reinforced the need to rethink some of the approaches adopted by the financial community in assessing banks’ performance. The aim of this paper is to see if global banks improve their performance due to their cross-border activity, whether we speak about mergers or acquisitions of local banks or we speak about other ways a global bank begins the activity in a different country. As methodology, we will analyze the dynamic of ROAA and ROAE during 2006-2013 in the case of two global banks, Société Générale and Erste Group, and their branches in countries from Central and Eastern Europe. At the end of the paper, we will compare the results for each big bank and their branches.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Mergers, Acquisitions, Cross-border, ROAA, Performance , ROAE
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Mihaita-Cosmin POPOVICI
 

Adoption of the single currency, euro, on 1 January 2002, in 12 countries, then in other seven states, represents a step towards closer economic and monetary integration in the European Union. The banking market remains fragmented after euro adoption and cross-border transactions in the single currency involves high costs and long periods of settlement and clearing. European Union response to this problem came in the form of the Single Euro Payments Area. The objective of the papers is to analyze the degree of implementation of SEPA in Romania and to investigate the impact on banking efficiency. The results showed low degree of implementation, especially on direct debit, but Romania hasmore time until October 31, 2016 to make the necessary changes. The consumers will benefit from a quicker settlement and clearing and at lower costs.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: SEPA, Implementation, Efficiency
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Aurelia PREDA, Sergiu TEODORESCU
 

Respiratory reeducation is a way to recover the thoracic contusion. Correcting dyspnea induced by pain, decreases the required postcontuzional recovery time and, therefore, the required social reintegration time. This is achieved an increasing of the pacient life quality, and significant savings of human and material resources: reducing medical and somato-functional recovery costs, reducing the sick leave payment and the work days off to. The „TES” device has been designed in order to improve respiratory reeducation and to recover the thoracic contusion. A study showed that the postcontuzional recovery was significantly increased by using the physical exercises of respiratory reeducation. The „TES” device demonstrated his role in this.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Respiratory reeducation, Thoracic contusion, „TES” device
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Cristina PRICHICI, Bogdan Ş. IONESCU
 

In the current economic background companies invest in finding complete solutions for the integration of all business functions (sales, logistics, accounting aso.), control, centralized coordination and harmonization of systems and financial management operations, data storage and resilience of services as well as cost savings. Technological trend of recent years brings forward the concept of cloud computing, an innovative model of processing and storage of data that allows companies to run business processes on IT infrastructures in conditions of economical optimization. Cloud computing allows companies to effectively and economically use IT applications and infrastructures through the model "use as you need and pay as you go". However, before deploying the data and applications in the virtual environment, organizations must take into account the implications of such a decision on the financial reporting process. In this respect, the paper aims to analyze the impact of cloud computing technology onthe main operational modules used for obtaining accounting data for financial reporting.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Cloud accounting, Virtualization, Business process, Accounting policies
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Raluca Daniela RIZEA
 

The turbulent start of the new century has brought new challenges for firms, industries and countries. This paper investigates business and growth strategies of multinational companies within the precious metals jewelry retail industry. The main objective is to identify whether a company’s performance is determined by its growth strategy or not. The purposes for the research are: to understand what kind of business models and strategies global precious metals jewelry retailers pursue, what growth strategies global jewelry retailers pursue and if there is a link between a company’s growth strategy and its profitability. Least but not last, the findings are reviewed on their transferability to other industries. The findings regarding the business models and growth strategies pursued are that all of them are based on Porter’s generic strategies as well as internationalization and diversification but there is no specific preference given to any of the strategic elements.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Jewelry, Strategies, Competitiveness, Precious metals, Innovation
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Andrei ROTH, Cătălin PETCU
 

Through sustainable development the needs of the current generation are fulfilled without jeopardizing the opportunities of future generations. The concept takes into account economic, social and environmental considerations. It has a wide range of applications from natural resources to population growth and biodiversity. One of its most important themes is energy. In this area, sustainable development relates with resource availability and green house gases emissions. Also it takes into account the needs of people without access to energy, and their legitimate quest for development. For the European Union, sustainable development represents an overarching objective. The present article analyzes the concept from a theoretical perspective, contrasting its strong points and weaknesses. It highlights the relation between sustainable development, energetic resources and climate change. The EU policies results in the field of energy are analyzed from the perspective of resources, energetic dependency and climate change efforts.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Sustainable development, Economic growth, Natural resources, Energetic security
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
ETHICS AND ADVERTISING
 

Advertising is often critiqued for not respecting rules of ethics both in the process of advertisement design and in the way it influences society. The main concern of advertisers as representatives of companies that seek profit making is to increase sales, win new clients, increase the demand for the product they want to be presented in as nice and colorful advertisement as possible. They pretend that their product is the best, has unique qualities, better than their competitor´s, it has a better cost and brings much more benefits. That is the reason why the great challenge in advertising is to create sales efficient and at the same time moral and true advertising messages.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Advertising, Ethics, Moral advertising
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Marian SOCOLIUC, Stela CARAMAN, Veronica GROSU
 

The main objective of this paper is the examination of the concept of Balance Scorecard method and its possibilities in achieving process of the strategic objectives of the entity. The author has developed a Strategy map for an entity that transports goods by lorry. The Strategy map it is an important device used to communicate the strategy, focus organization efforts and implement the strategy developed by the management of the entity. The authors recommended, as well, the form of an internal report „Indicator’s sheet”, used for reporting the mode of achievement of each measure set out in the Strategy map.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Strategic objectives, BSC method, Strategy map
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Camil-George G. STOENESCU
 

The current paper aims to succinctly highlight and discuss the evolution of Romania’s foreign trade between 2002 and 2014, in relation to the process of European Union integration during the same temporal period, evolution considered under both the quantitative aspect (trade volume) and as well under a qualitative dimension (the structural changes underwent by the Romanian trade, as a direct consequence of the changes that occurred in economy). In order to emphasize these relations and for the purpose of achieving relevant insights into the influence that EU integration had on Romanian economic development, we synthetically analyzed the evolution and structure of Romanian international trade as inflows and outflows (imports and exports) and, consequently, the transformations that characterized the Romania economy after 2000.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Trade, Exports, Imports, Balance of trade, Trade structure
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Cristian SPIRIDON
 

The study addresses the economic development of four European countries - Romania, Hungary, Czech Republic, and Poland beginning with 1990. It will be employed a descriptive analysis of their trade and growth dynamics. Emphasis will be placed on the determinants of economic growth of this group of countries in general and foreign trade in particular. The results indicate a heterogeneous dynamics of economic performances explained by specific characteristics and less by exogenous aspects related to trade partners and commercial structure, regional integration or foreign policy influenced by geographic proximity. In what concerns Romania, it appears to have been driven by a weaker engine of economic growth in the last two centuries.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Central and Eastern Europe, International trade, Growth
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Sergiu TEODORESCU, Aurelia PREDA
 

Mastication reeducation is one of the ways of body remodeling, that can be used in the obesity recovery. In antique Greece, this kind of exercises were practiced in Palestra (gymnastics, sports and sporting competitions schools and arenas). "Besides, Palestras teachers recommended to the athletes to chew well and at leisure, to gain more power, instead of swallow in the greedily eating way, without chewing. ......... therefore, one of the regular exercise, in the Palestra, is chewing food. ". At present, a study showed that the evolution of the fat percentage, as part of body composition, was significantly positive for the experimental group subjects. Mastication reeducation physical exercises are ways to understand, appreciate and to keep healthy the own body.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Mastication reeducation, Body remodelating, Obesity recovery
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Sorin-George TOMA, Paul MARINESCU, Marin BURCEA
 

The automotive industry has always represented an economic engine for many countries. It is dealing with the design, development, manufacture, marketing, and sale of the motor vehicles. Nowadays, this industry is full of intense competition between big auto groups fighting for higher profits and larger market shares. The key players in the automotive market are operating at a global scale in a highly competitive environment. In the last years, Toyota Motor and Volkswagen Group have proved to be the main competitors. The aim of our paper is to analyze the evolution of the world’s largest automakers in the period 2013-2014. The research type is literature review.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Automakers, Global automotive market, Automotive industry, Toyota Motor, Volkswagen Group
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Radu-Dan TURCU
 

The increasing importance of sustainability issues expressed by different types of stakeholders has placed them among the leading topics inside the accounting literature. The paper aims to extend the current knowledge through the analysis of the relation between the number of sustainability reports issued by companies inside one country and its social, environmental and economic performances from a worldwide perspective, with a particular focus on the European Union. Our results indicate a positive correlation between the analyzed variables, denoting a higher involvement of companies from more developed countries for the improvement of sustainability reporting concept and practice.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Sustainability, Sustainability reporting, Corporate Social Responsibility, Global Reporting Initiative, Sustainable development indicators
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Mihaela TURTUREA
 

Nowadays business environment can be described through continuous changes, complexity, raising concerns regarding the limited non-renewable resources. Through changes in the reporting practice and by demonstrating a great commitment to responsible corporate day-to-day activities, companies are able to increase their performances on the market. This research aims to underline the performance achieved by “one of the earlier adopters” of integrated reporting by correlating financial performance indicators to its stock price evolution. The results show that responsible actions directed towards social and environmental causes demonstrate a more visible, transparent and active side of a business which helps companies in achieving higher performances.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Integrated reporting, Complexity, Financial performance
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Adriana Radan UNGUREANU
 

The value chain analysis is one of the most important methods for understanding the industrial world. The main task of the value chain that links producers and buyers consists in understanding where or how exactly the value added is generated. In the case of products incorporating nanotechnology, most of them are still in the trial phase into laboratories, but there are some examples of good practices where nanoproducts discovered their way to the market. This paper tries to present two cases of value chains for nanotechnologies applied to textiles by identifying the competitive advantages and focusing on getting some answers for a better understanding of the entire process from production to the final user.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Competitive advantages, Value Chain, Nanotechnology
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Magdalena VELCIU (CIŞMIGIU)
 

In the actual dynamic, challenging and higly competitive environment there are new milestones for successfull organisations like: atracting the best qualified people, using and developing competences, creating multidisciplinary teams and harness top capabilities. This article aims to shape a new perspective on competence, particularly regarding the focus on competencies that will enhance the superior value creation. In this paper, I conceptualize the "competence" as accumulation of knowledge, skills and evidences of expertise that mutually reinforcing themself to perform activities and superior value creation. The identification is based on observable behaviors that are relevant for high performance as key factor for obtaining and maintaining competitive advantage. Then I present the prerequisites for creating a framework for defining-identifying-developing competences in order to collect qualitative information. Finally, the development of competencies should be considered a source of competitive advantage if there are met some goals including strategical approach, collaborative network and responsability for integrating competence development as an intrinsic part of sustainable development.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Competency, Competence development, Competitive advantage
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Paula VOICU, Petruta MIHAI
 

This paper aims to examine two products used in kitchen, a centrifugal juicer for fruits and vegetables and another masticating juicer. In order to choose the optimal variant of juicer (fruit and vegetable), it will analyze the characteristics of each juicer, so finally using the STEM method to choose the juicer with best features for the user, both technically and from the point of view of health. It will present the main advantages and disadvantages of use these two types of juicers, both in terms of energy, the final product resulted and of component. It will make a brief description of the STEM method, to finally, it presents the obtained result after the application of this method.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: STEM, Juicer, Masticating centrifuge
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015
Volume III, SEA - Practical Application Of Science
Issue 7
Maria-Mădălina VOINEA
 

This paper deals with the importance that should be given to the performance analysis, mainly the one of the profit and loss account, for being able to take the best financial decisions. Profit and loss account is considered the tool that measures business performance. Although appears a question mark on the confidence you need to attach to this result because it arises from the application of the accounting standards and regulations. And there are many possibilities for recognize revenues and expenses, cutoff, income or revenue, expenditure connection, which asks a little caution about the importance given. The aim of the paper is to see how helps the economic analysis in the process of decisions making.

  • Type: Review article
  • Published on: 22th March, 2015
  • Keywords: Performance, Profit and loss account, Financial decisions
  • Received: 15th February, 2015
  • Final revision and acceptance: 18th March, 2015