Volume VI, SEA - Practical Application Of Science
Issue 16
Andrea GERGELY, Andrea RÓZSA
 

Official list of top500 companies according to annual revenue and net profit is provided and publicized in Hungary every year by contribution of international data service corporations as Bisnode or Creditreform. The reliability of these orders can be controlled through corporate information database of Opten or Central Statistical Office. The main purposes of this study is to identify the most important leading companies of Hungarian food industry on the basis of revenue and net profit after tax orders and to analyse financial features and changes of these in period of 2010-2015. The main focus is on the investigation of capital structure, solvency and profitability (particularly return on equity) using financial indicators. Our hypothesis is that the accompanies of leading position both in revenue and net profit are safe capital structure (low debt and loan ratio), stability in solvency and positive equity risk premium. The research is based on official annual reports, relevant macroeconomic data and international literature of financial analysis.

  • Type: Case Study
  • Published on: 9th January, 2018
  • Keywords: Hungarian food industry, Financial analysis, Equity risk premium
  • Pages: 7-19
  • Received: 18th November, 2017
  • Final revision and acceptance: 7th January, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Maria TATARUSANU, Corneliu IATU
 

The article describes the main theoretical framework concerning the interpretation of the cultural tourism heritage, by emphasizing the principles of the interpretation, its role in the present challenges created by the tourism development in the new globalized world. The tourism demand trends show that there is an increasing of the numbers of visitors who desire to understand the past, the old cultures, to learn about different cultures and local communities’ way of living, about the architecture and history at the destination. In this context, the interpretation of the cultural heritage has to be appropriated to this democratization of cultural tourism and also to take into account the new technologies which can contribute to achieving the goals of a sustainable tourism.

  • Type: Review Article
  • Published on: 10th January, 2018
  • Keywords: Interpretation of the cultural heritage, Tourism, Visitors, Globalization, New technologies
  • Pages: 21-25
  • Received: 17th December, 2017
  • Final revision and acceptance: 8th January, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Rendra WIDYATAMA
 

Generally, in every country, there is supervision of the television broadcasting system. In Indonesia, all television broadcasting is supervised by the Komisi Penyiaran Indonesia/KPI (Indonesian Broadcasting Commission). This commission oversees broadcast television, to ensure all TV broadcasts in Indonesia comply with government regulations. Often the KPI imposes sanctions, but frequent violations still occur. This article describes the results of research on the contradiction between business interests and ethics in the television industry in Indonesia. This study uses the method of evaluation research, where researchers analyze data, here in the form of sanctions documents released by broadcasting commissions. The results reveal that all national private television stations often violate regulations. They prioritize their business interests rather than follow broadcasting guidelines, especially since KPI does not have the full authority to grant and revoke a broadcasting license. The granting and revocation of permits remains under the authority of the government, where political lobbying plays a more significant role.

  • Type: Case Study
  • Published on: 17th January, 2018
  • Keywords: Television Business, Capitalism, Business ethics, Broadcasting License, Broadcasting Guidelines
  • Pages: 27-35
  • Received: 18th December, 2017
  • Final revision and acceptance: 14th January, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Judit OLÁH, József POPP, Gabriella ANTAL
 

Among the service industries, the analysis logistics as an academic field which has a great influence on firms’ creation of value and competitiveness, and within this the analysis of firms providing logistics services (3PLP), has become more relevant than in previous years. Among the expectations of logistics service providers, and among the sources of competitive advantage, are timeliness and flexibility, which can only be handled and measured together, because of the integration of services. At the same time, when supply chains (not corporations) compete with each other, we must create the opportunity to manage chains beyond company boundaries. Our aim is to investigate the time-related problems of supply chains (and sections) and logistics service providers, and their consequences and solutions. We have found that the development of time factors which appear and can be measured in the realization of logistics services contributes to the competitiveness of a logistics service company. The performance provided by companies that are integrated into the supply chain’s member companies and operate as flexible logistics service providers can have a significant impact on the (full) operation and efficiency of the supply chain.

  • Type: Review Article
  • Published on: 23th February, 2018
  • Keywords: Logistics, Supply chain, Logistics service provider, Time- based competition
  • Pages: 37-46
  • Received: 1st December, 2017
  • Final revision and acceptance: 14th February, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Adrian Laurențiu STUPARIU, George Constantin MANIU, Lorand KISS
 

In order to identify the characteristics of ocular trauma in children for design of data analysis based, accurate and targeted preventive measures, we have studied 29 patients who suffered blunt eye trauma, age 18 and below. The following parameters where taken into account: environment, gender, traumatized eye, type of trauma, zone, circumstances, visual acuity and intraocular pressure. Results: Contusions were the most common type of injuries, the most frequent circumstance was contact with a blunt object undetermined intent, and in more than 50% of cases zone II was the most affected. 50% of patients were between 12-15 years, eye trauma caused by aggression was found to be more frequent between 14-15 years, while injuries produced by a blunt object, undetermined intent where found at a younger age, approximately 12 years old. Ocular hypertension or hypotension was found more often in the rural environment. Visual acuity over 0.5 on admission was found in 38% of patients, and on discharge there number went up to 86% of cases. The patients spent on average 7 days in the hospital.

  • Type: Case Study
  • Published on: 7th March, 2018
  • Keywords: Blunt eye trauma, Close globe injury, Pediatric, Visual acuity, Trauma type, Zone
  • Pages: 47-52
  • Received: 15th February, 2018
  • Final revision and acceptance: 4th March, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Luminita PAIUSAN, Marius BOITA, Boby COSTI, Eduard AJTAY, Adina Maria MOTICA
 

Knowledge of investment costs is a basic tool at the hands of managers and is used to increase the efficiency of economic activity. The investment cost study aims to obtain profits under various aspects, both at microeconomic and macroeconomic level. The short-term financing decision refers to the financing of the operating cycle, which gives the purpose of circulating capital management. Tourism investments are materialized through: accommodation units, equipment, and infrastructure works that ensure the operation of the investments. Given that investors want profit in a quicker and shorter timeframe, in this paper we have conducted a case study on an entity's investment, its cost, recovery time and profitability on basis of the estimated profit. Appropriate financing of the tourism industry would, in the medium term, provide an incentive for the national economy.

  • Type: Case Study
  • Published on: 13th April, 2018
  • Keywords: Tourism, Investment, Financing, Profit, Equipment
  • Pages: 53-58
  • Received: 18th March, 2018
  • Final revision and acceptance: 12th April, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Shimon ELBAZ, Adriana ZAIT
 

Reducing energy consumption through changes in individual consumers’ behaviors is one of the most important challenges of the present society and near future. Our qualitative study, based on semi-structured interviews, deals with the investigation of household consumer behavior, in order to explore ways for reducing the electricity demand, in the particular cultural context of a country with high levels of energy consumption in both summer and winter times – Israel. Various approaches, coming from economics, sociology, psychology or education were tested, for limiting the use of a particular, invisible and intangible merchandise - electricity. The main objective of the present study was to determine consumers’ perceptions about the various approaches that could be used to decrease the domestic demand and consumption of electricity. A secondary objective was to identify, based on consumers’ perceptions, the factors of influence that could be used in future quantitative researches and governance strategies. We found out that investigated families have a high level of education in the field of electricity consumption and marketing campaigns, which would make the classic energy educational approach less efficient. Household electricity consumers in Israel have awareness and willingness not to waste or consume electricity beyond what is necessary, but the necessary level is positioned quite high. The social comparison approach appears to be ineffective, as well, even if it proved its efficiency in other cultures. The psychological and the economic approach could be partially efficient, if certain influence factors are widely used. These factors include mainly the magnitude of the savings, the perceived behavioral control, the personal thermal comfort and the pro-environmental attitude. The most important managerial implication concerns the strategies that could be conceived by electricity companies and national authorities – based on un-intrusive messaging, respect of privacy, valorization of green, pro-environmental beliefs and consumer empowering instruments.

  • Type: Case Study
  • Published on: 13th April, 2018
  • Keywords: Electricity consumer behavior, Qualitative research, Reducing household energy demand, Israel
  • Pages: 59-67
  • Received: 2nd April, 2018
  • Final revision and acceptance: 12th April, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Daniel Dumitru LEON
 

This study aims to present an econometric analysis that shows the interdependence between the turnover and the net profit, being achieved by a number of 65 companies operating in the IT industry from all regions of Romania. To achieve the objectives, the research aims to analyze the dynamic (quarterly) relationship between turnover and net profit in the IT sector. The usefulness of this research follows the ever-increasing evolution of this new industry, which, from year to year, succeeds to impose itself in the service sector in Romania, exceeding the established sectors in the GDP.

  • Type: Case Study
  • Published on: 14th April, 2018
  • Keywords: Turnover, Net profit, Correlation, IT industry
  • Pages: 69-74
  • Received: 1st April, 2018
  • Final revision and acceptance: 13th April, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Anca BUTNARIU, Florin-Alexandru LUCA, Andreea APETREI
 

Financial derivatives are now widely used by corporations to manage exposure to currency, interest rate, and commodity price risks. The motivation for non-financial firms to engage in corporate hedging is one of the most intensively discussed topics in corporate finance research. Recent financial theory suggests that there are several ways through which corporate hedging can increase firm value in the sense of the maximization of shareholder value. A rich body of literature consists of studies that have empirically investigated the theoretical explanations for corporate hedging, literature that presents rather mixed evidence for the drivers of corporate hedging. This paper investigates the effects of hedging activity on non-financial firm value and how operational hedging is related to and differentiated by financial hedging, by providing an extensive overview and synthesis of the existing literature.

  • Type: Review Article
  • Published on: 20th May, 2018
  • Keywords: Financial risk management, Financial hedging, Operational hedging
  • Pages: 75-79
  • Received: 20th April, 2018
  • Final revision and acceptance: 18th May, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Mihai-Cosmin FANARU
 

The modern concept of marketing starts from the premise that any economic entity has to focus its attention on the management process that identifies, anticipates and satisfies the customer’s requirements in an efficient and profitable way. Any economic entity operating within a market must incorporate the function that recognizes the requirements and aspirations which were not achieved so far, then defines and measures their potential for profitability in order to meet the needs of consumers. In this context, the purpose of the paper is to provide an overview of the issues that appear to be more challenging and frequent within the DIY market in Romania. For this reason, companies are investing heavily in market research to find answers to a number of very important questions such as: Why are some products purchased? When are they purchased? Where are they purchased from? All these questions need to be seriously dealt with and analyzed by the marketing team within any company so as to respond to the difficulties faced by managers in choosing an optimal solution.

  • Type: Case Study
  • Published on: 20th May, 2018
  • Keywords: Qualitative marketing research, Bricolage market, Consumers, Diy demand
  • Pages: 81-88
  • Received: 24th April, 2018
  • Final revision and acceptance: 17th May, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Laura Alexandra MORTURĂ, Andreea Elena DREGHICIU
 

Accounting, in order to be able to deal with the requirements and changes in the economical-social environment, with the meaning of providing useful and actual information to the different kinds of users, has developed different techniques and methods. Among these, evaluation is to be taken into account, which has the purpose of giving the real value of tangible assets, but also audit, having the purpose of certifying the provided information through financial reports. Within the entities, tangible assets have a significant value, and an inadequate evaluation of these assets has a powerful impact upon the provided information, inferentially upon the decisions of different users. Therefore, through the identification and evaluation of objectives and relevant risks, in the process of tangible assets’ audit, emphasizing the inputs and outputs of the assets, more value is given to the entity, the efficiency of the management, control and presentation processes is improved, respectively decisions will be made based on a solidly grounded base.

  • Type: Case Study
  • Published on: 20th May, 2018
  • Keywords: Tangible assets, Evaluation, Revaluation, Audit
  • Pages: 89-95
  • Received: 4th April, 2018
  • Final revision and acceptance: 17th May, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Oana Ramona GLONT
 

The relationship between economic development and defence has always been the subject of significant literature in the economic environment. The present study examines the impact of defence spending on economic growth from a global perspective for 2009-2016. It takes into consideration the economic size and status of each country in the current geopolitical context. The SMD model and linear regression are used to investigate the economic development-defence connection by using the SIPRI data set for 12 Central European countries. Numerous regression analysis examine the data using different estimated econometric formulas with maximum probability. The empirical results show that in the long run, the linear relationship between defence spending and economic development is sustained only in some cases with positive effects on GDP. The results are unfavourable in most of the analysed countries, defence spending having significant negative effects on economic development.

  • Type: Case Study
  • Published on: 26th May, 2018
  • Keywords: Defence spending, Economic development, Central Europe, SMD Model
  • Pages: 97-106
  • Received: 5th April, 2018
  • Final revision and acceptance: 25th May, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Ioana GUTU, Irina MANOLESCU
 

The article reveals data about the managerial performance of Universitaria Consortium; as subjects for national and international funding, the four universities have large numbers of finalized and ongoing educational and research projects, their deliverables affecting the institutional international ranking. The article tries to reveal if there is any connection between the number of nationally and internationally funded projects specific for each of the four institutions considered, and their international metaranking. The empirical study used an extensive analysis of a series of factors important for universities performance. Data was available on institutions websites, projects paperwork and relevant ministries reports. The conclusions of the article show that there is not a strong connection between the number of projects developed by universities and their academic performance, since subjects with lower educational route have some of the highest numbers of developed projects. The results are relevant not only for the institutional management of the four universities, but also for governmental and non-governmental funding programs managers, and the decisions they make for raising the competitiveness among applicants.

  • Type: Case Study
  • Published on: 29th May, 2018
  • Keywords: Institutional management, International funding
  • Pages: 107-120
  • Received: 1st April, 2018
  • Final revision and acceptance: 25th May, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Raluca COSTACHE
 

An important source of understanding and perfection of athletic events is the knowledge and application of the biomechanical laws to the study and analysis of motive actions specific to athletic events. At the current level of sport performance, without a precise and thorough technique improvement work, it is impossible to advance towards outstanding results. The lack of a rational technique even becomes a limitative element in enhancing the psycho-motor skills of the athlete. The athletic exercise technique shall not be evaluated exclusively from the kinetic point of view (succession of apparent moves), but also in relation with the forces involved in its development, that can be hardly seen from outside, and therefore in relation with their dynamics. Thus, the kinetic evolution of the moves is just a component of the space-time technique, while the athletic exercises may be also carried out based on dynamic processes, integrated in one's kinetic evolution. Thus, we may say that technique means the most rational and economical use of the kinetic and dynamic potential. Thus, by reducing the human body to a system of segments and considering it a commonplace mere object and therefore subject to the general laws of mechanics, in order to analyze a given move, we shall determine and analyze forces acting upon one's body.

  • Type: Case Study
  • Published on: 29th May, 2018
  • Keywords: Long jump, World records, Dynamics, World Championships
  • Pages: 121-123
  • Received: 23th April, 2018
  • Final revision and acceptance: 25th May, 2018
Volume VI, SEA - Practical Application Of Science
Issue 16
Corina ȚIFREA, Sidi Hassan CHERKAOUI
 

Ramadan (in Islam), the ninth month of the Muslim year. During this period, from the sunrise to the sunset, a total abstinence is practiced, no food, drink, nor any other nutritional substance can be introduced into the body through any method, but after sunset. Practicing daytime ramadan (fats) sport burns primarily the sugars and fatty acids that circulate in the blood and then asks the body to focus on glycogen stores, fats and proteins. The energy deficit leads the body into a "suffering" situation. In such a situation, it is difficult to get performance without the necessary amount of energy. Exercising intense effort calls for other sources of energy, such as fats and proteins. The use of muscle proteins for energy purposes leads to changes in contractile fibers and weakens the muscle tissue. This risk is even greater if the hydration is not correct, a situation often associated with the absence of food intake. Associated dehydration increases the risk of tendon and muscle lesions (tendinopathy, elongation, breakdown). During the Ramadan month, physical and sports performance is significantly reduced. Coaches have to take this into account. Programming competitions during this period is not very compatible with a high performance sports diet and with the idea of performance.

  • Type: Case Study
  • Published on: 29th May, 2018
  • Keywords: Ramadan, Performance football, Physical performances, Sport
  • Pages: 125-127
  • Received: 23th April, 2018
  • Final revision and acceptance: 25th May, 2018