Volume IX, SEA - Practical Application Of Science
Issue 25

CONSUMER BEHAVIOUR IN PURCHASING LUXURY GOODS DURING ECONOMIC CRISES

Alexandra Giuliana ANDRONIC
 

With the luxury goods market constantly growing, understanding the consumer’s behaviour and the factors influencing the purchasing decision-making process is crucial. By understanding the consumer’s behaviour among buyers of luxury goods in times of crisis, this paper can propose a series of measures that could improve the marketing mix and marketing strategies for the companies involved in the luxury goods market, from large manufacturers to retailers. The negative effects of the economic recession caused by the Covid19 pandemic led to the necessity to recognize the changes in the consumer behaviour that may have a lasting impact, and they definitely will. Economic crisis has a significant impact on consumption practices and the way consumers justify their consumption patterns.

  • Type: Review Article
  • Published on: 9th January, 2021
  • Keywords: Crises; Luxury goods; Consumption; Sales; Marketing behaviour;
  • Pages: 9-14
  • Received: 8th December, 2020
  • Final revision and acceptance: 8th January, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

COMPARISON OF HUNGARIAN AND ROMANIAN SOFT DRINK PRODUCER COMPANIES BASED ON THEIR FINANCIAL SITUATION

Flóra KATONA, Gergő TÖMORI
 

Numerous companies have become global, establishing their operation on fluid intake as a basic human need. Over time, the technology associated with the production of soft drinks has developed dynamically, which has also caused increasing competition among the participants of the sector. However, the intensification of the competitive situation is significantly amplified by the rapidly changing and increasingly diverse consumer needs. Based on the above, examination of the industry and examination and comparison of each country's sectoral performance is essential for successful operation. There is more and more competition among the companies operating in the sector to attract and retain the attention of consumers; thus, it is essential to constantly innovate and monitor the activities of the competitors. In the current case, the aim is to compare the short-term liquidity of the Hungarian and Romanian soft drink sector in the period between 2015 and 2019. In the course of the study, the main question is which companies (of which country) performed better in terms of liquidity in the short term within the dynamically changing competitive environment.

  • Type: Review Article
  • Published on: 7th February, 2021
  • Keywords: Net working capital; Liquidity; Current assets; Soft drinks; Industry; Analysis;
  • Pages: 15-21
  • Received: 10th December, 2020
  • Final revision and acceptance: 6th February, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

A BRIEF OVERVIEW OF PERFORMANCE MANAGEMENT SYSTEMS

Lubna Q. OWAIS
 

Performance management is not a new topic; however, it has gained so much attention recently due to its need in the current competitive business environment. Performance management has been first used in the 1970s, and since then many definitions, frameworks, and concepts of performance management have been introduced, which led to great confusion in the performance management literature. Furthermore, many terms are used interchangeably with performance management, which made the confusion much worse. This article aims to provide a brief review of the evolution of performance management. Moreover, in the literature, it is obvious that even with the new comprehensive systems still the financial indicators are the most common and used indicators, therefore, an overview of some of the most common financial indicators and their importance is provided in this paper. Additionally, some empirical pieces of evidence about the cause-and-effect relationships, which are claimed to be fundamental for the success of the Balanced Scorecard (BSC), are provided. The findings are ambiguous as some support the existence of these relationships, whereas other findings deny their existence.

  • Type: Review Article
  • Published on: 25th February, 2021
  • Keywords: Performance management; Performance measurement systems (PMSs); Balanced Scorecard (BSC); Cause-and-effect relationships;
  • Pages: 23-30
  • Received: 17th January, 2020
  • Final revision and acceptance: 24th February, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

CASES OF VAT EVASION ON THE BASIS OF EUROPEAN COURT JUDGMENTS

Dóra KEREZSI, Anna SZABÓ-CSORVÁSI, Mihály HEGEDÜS
 

In a supply chain, the business entity or entities often “forget(s)” to fulfil their obligation to pay VAT. This is all the more true in the case of transactions within the Community, where many abuse the right to tax exemption. Both NAV (National Tax and Customs Administration) and the government are fighting fraudulent taxpayer behaviour, aiming to whiten the economy by curbing fraud. As VAT evasion is difficult or impossible to catch up with, often an intermediary entity within the chain is held accountable as the entity knew or must have known that its transaction contributed to the realization of VAT fraud within the chain. The topicality of the issue is provided by the application of various new tools continuously introduced in Hungary in order to whiten the economy. One of the reasons for this is that there is a lot of abuse in the field of VAT fraud, which means a significant loss of revenue for the Hungarian central budget. Not only do abuses result in a loss of revenue, but revenue is also lost from the state due to unfounded VAT returns. In such cases, the issue involves billions that the state could have spent on the development of health care, education, or other areas. In the absence of due diligence, anyone might inadvertently get into a fictitious invoice chain, thereby supporting the “work” of legal offenders. In general, participation in VAT fraud can be eliminated with due care and reasonable measures. The main objective of the presented study is to introduce, through the verdicts of the Court of Justice of the European Union, some of the measures that the court can reasonably expect from the taxpayer.

  • Type: Review Article
  • Published on: 1st March, 2021
  • Keywords: Information; Value added tax; Budget fraud; VAT evasion;
  • Pages: 31-39
  • Received: 18th November, 2020
  • Final revision and acceptance: 28th February, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

E-HRM TO OVERCOME HRM CHALLENGES IN THE PANDEMIC

Jihad FRAIJ
 

The coronavirus (COVID-19) pandemic has severely affected the globe. The workplace transformed to be an online place. This work was led to examine the impact of COVID-19 on Human Resources Management (HRM) practices in a developing country (Jordan). This study examines, in particular, the impact of the COVID-19 on employee Recruitment, Training, and management of performance and compensation. The in-depth semi-structured interview method has been employed in this research. The study's purpose was to interview 30 Jordanian human resources practitioners who collected information through interactive online interviews. Because of the COVID-19 instructions, the researchers used video and voice calls to ask open-ended questions. The study found that COVID-19 significantly reduced the number of employee recruitment activities. To protect employees from contact with the disease prior to the outbreak, employee training programs have been cancelled. Only some organizations were able to use online training, which would be the best alternative, because of a lack of facilities. The participants were asked if e-learning would work as well as face-to-face training methods. Performance management has become more challenging. In the study, the staff was not able to achieve initial targets because of disease-related disruption. The monitoring of employee performance for organizations that chose to work from home has been difficult, and practice raised concerns about work-life balance problems. Concerning COVID-19, some of its financial obligations had not been carried out by organizations. In the study, e-HRM has been recommended to minimize physical interactions between individuals, as well as to engage employees in crisis-management strategies.

  • Type: Original Research
  • Published on: 10th March, 2021
  • Keywords: E-HRM; Telework; Pandemic; Covid-19; Jordan;
  • Pages: 41-49
  • Received: 6th February, 2021
  • Final revision and acceptance: 9th March, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

THE NECESSITY OF EXAMINING THE NOTES TO THE FINANCIAL STATEMENTS

Dóra KEREZSI, Mihály HEGEDÜS
 

The notes to the financial statements are a part of the annual statement and the simplified annual statement. One of their main purposes is to provide data and information in order to make the balance sheet and profit and loss account figures clear and usable for owners, investors, creditors and all stakeholders. The notes are required to support the appropriate presentation of a reliable and realistic picture, based on the principles of accounting, in particular the principles of accuracy, clarity, consistency, continuity and full disclosure. Based on previously conducted research, the preparation of the notes to the financial statement and the achievement of their objectives have been frequently criticised. Consequently, in the scope of the present study, a questionnaire survey was conducted concerning the opinion of economic professionals and managers on the information contained in the notes of the stakeholders of their company and on the information that can be obtained from them, which they come across during the process of decision-making.

  • Type: Review Article
  • Published on: 10th March, 2021
  • Keywords: Information; Decision-making; Notes to the financial statements; Questionnaire survey;
  • Pages: 51-58
  • Received: 21th November, 2020
  • Final revision and acceptance: 9th March, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

HOW TO MAKE FOOD SECURITY SUSTAINABLE RELATED TO ECONOMIC CRISIS AND PANDEMIC RECOVERY

Domicián MÁTÉ, Rabbi Mohammad FAZLE
 

The World is facing its worst economic crisis since the Great Depression. The promotion of sustainable and inclusive economic growth, full and productive employment and decent work for all is undermined by the consequences of the COVID-19 epidemic. Food security is linked to the majority of the United Nations Sustainable Development Goals (SDGs). This study aims to draw attention to the role of the food security objective, which is based on reliable, equitable and sustainable food systems that benefit from modern and equitable agricultural technologies. Food (in)security negatively affects human physical, social and economic development throughout life and is a significant environmental disruptor with serious consequences for planetary health. In this article, the authors propose the links between food security and sustainable development goals taking pandemic crisis into account to gain novel insights on whether and how recovery policies can be implemented simultaneously, which may lead to more nuanced findings in the global solution of SDGs.

  • Type: Review Article
  • Published on: 15th March, 2021
  • Keywords: Food security; Sustainable development goals; Depression; COVID-19; Pandemic recovery;
  • Pages: 59-66
  • Received: 9th February, 2021
  • Final revision and acceptance: 14th March, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

THE EFFECT OF CORPORATE GOVERNANCE CHARACTERISTICS ON CAPITAL STRUCTURE. ANALYSIS ON EUROPEAN COMPANIES

Anca-Simona HROMEI
 

The structure of capital and its adequacy to obtain the best results, with a cost of indebtedness as low as possible is an intensely analyzed and debated topic in the literature, numerous theories being elaborated on it. The essence of corporate governance encompasses systems and processes introduced in order to lead and control the company, pursuing performance and creating value for all stakeholders, all these taking into account the best financing solutions and an optimal capital structure. This paper aims to present the effect that corporate governance has on the capital structure of companies. The study was conducted on listed companies from Italy, France and Germany, being used financial and non-financial data from the period 2010-2019. For variables describing corporate governance were analyzed the CEO Duality and the size of the board of directors, while for describing the capital structure, the debt-to-assets ratio was used. It was found that the size of the board positively and directly affects the financial leverage.

  • Type: Case Study
  • Published on: 16th March, 2021
  • Keywords: Financial leverage; Capital structure; Corporate governance, CEO Duality, Board size;
  • Pages: 67-73
  • Received: 25th February, 2021
  • Final revision and acceptance: 14th March, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

THE IMPLICATION OF THE CBN CASHLESS ECONOMY POLICY CHANNELS ON THE PERFORMANCE OF NIGERIAN BANKS

Stephanie M. CHONDOUGH
 

This study appraised the implications of CBN cashless economy policy on the performance of banks in Nigeria with specific attention on the effect of automated teller machine, point of sale and web-based transaction on earnings per share. Vector error correction model was used to estimate quarterly data collected on the variables from 2010 to 2018. It was deduced from the analyses that automated teller machine, point of sales and web-based transaction had a long-run effect on earnings per share. However, the short-run disequilibrium in the data set was not adjusting towards long-run equilibrium. This implied that the electronic banking transaction modes jointly influence the earnings per share of the Nigerian banking sector but at a very slow rate towards the long run. It is recommended that banks should extend the coverage of ATM terminals to the rural areas to enhance the level of financial inclusion and by extension boost the earnings of their shareholders in Nigeria. Adequate backup infrastructure should be provided to complement the inadequate public infrastructure since internet connectivity is a sine qua non for improved e-banking services.

  • Type: Original Research
  • Published on: 21st March, 2021
  • Keywords: Earnings per share; Cashless policy; Point of sale; Web-based transactions; Automated teller machine; Technology-driven money;
  • Pages: 75-85
  • Received: 27th January, 2021
  • Final revision and acceptance: 20th March, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

FINANCIAL PERFORMANCE ANALYSIS OF INDIAN BANKS – A SELECTIVE STUDY

Chetan DUDHE
 

The function and importance of the banking sector play an important role in the development of the economy. This study suggests the calculation and examination of selected variables considered for the study. This paper attempts to analyze five major public, private and foreign banks. The purpose of writing the paper is to find out what measures banks can take to reduce NPAs. Profits decrease when NPA increases, using the Manova model and panel regression in this paper. The analysis is performed using the R software. In this paper, the author has used two methods, random effects and fixed effects. The current study describes the various financial data used in this article. If the definite effect and random impact resistance executed by the Houseman test were to be properly selected, it was concluded that there was a significant effect on deposits, advances, interest, other income, total NPAs, net NPAs, total assets.

  • Type: Case Study
  • Published on: 9th April, 2021
  • Keywords: Regression; NPAs; Deposit; Profit; Financial services;
  • Pages: 87-95
  • Received: 1st February, 2021
  • Final revision and acceptance: 8th April, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

DEVELOPMENT OF THE AGRICULTURAL WORKFORCE IN ROMANIA AND HUNGARY, ESPECIALLY IN THE PERIOD AFTER THE ACCESSION TO THE EU

Szeréna NAGY
 

Agriculture is a vital activity that plays a key role in the food security of the population, has an impact on regional and local ecosystems and is a tool for the economic development of every country. Accession to the European Union had a serious impact on the agricultural performance of the accessing countries, and had an effect on the fluctuation of agricultural employees. The proportion of the population living in rural areas is also declining in Romania, Hungary and the European Union, as the primary source of subsistence in rural areas is agriculture, which is a less attractive alternative to the more competitive sectors provided by urban areas. As a result of the above mentioned processes, the structure of agricultural workforce is constantly changing and deteriorating, and for the young generation, agriculture and rural life are not a viable alternative for the future. An aging tendency can be observed for the agricultural workforce. The aim of the presented study is to examine and present the situation of the agricultural workforce in Romania and Hungary, the transformation of its structure in recent years, especially in the years following the EU accession, and to draw some important conclusions, which include the most important past trends and also provide future perspectives and suggestions in relation to the topic under study.

  • Type: Review Article
  • Published on: 27th April, 2021
  • Keywords: Agricultural sector; Employment; Agricultural workforce; Romania; Hungary;
  • Pages: 97-107
  • Received: 20th February, 2021
  • Final revision and acceptance: 26th April, 2021
Volume IX, SEA - Practical Application Of Science
Issue 25

THE ENVIRONMENTAL ASPECT OF CORPORATE SOCİAL RESPONSIBILITY: DOCUMENT ANALYSIS OF SOCAR

Namig MIRZAYEV
 

Over the recent years, the interest in the concept of corporate environmental responsibility has been increased in Azerbaijan, like in many other countries in the world. A lot of companies in the country are directly or indirectly involved in one or more environmental responsibility activities. This paper intends to examine the leading Azerbaijani energy company, SOCAR’s (The State Oil Company of Azerbaijan Republic) CSR practices focusing on the environmental dimension to determine to what extent it is fulfilling its reponsibility toward the environment. To do the research, a qualitative method was also used, specifically document analysis method. The secondary data on environmental activities and initiatives are culled out from the annual sustainability reports of the company. Moreover, the available literature on corporate environmental responsibility is undertaken for the theoretical underpinnings on the subject.

  • Type: Case Study
  • Published on: 27th April, 2021
  • Keywords: Environmental Responsibility; Petroleum Industry; SOCAR;
  • Pages: 109-113
  • Received: 7th March, 2021
  • Final revision and acceptance: 26th April, 2021
Volume IX, SEA - Practical Application Of Science
Issue 26

A REVIEW OF GLOBAL CO2 EMISSIONS AND TOTAL ENERGY CONSUMPTION

Hayyan BOUBOU
 

Carbon Dioxide (CO2) emissions from fuel combustion are among the leading causes of human-induced climate change and global warming today, drawing researchers’ and international organisations’ attention. CO2 emissions vary widely across the world. Countries with high emissions are setting goals and working toward reducing their environmental impact by switching to renewable energy sources. This article reviews the CO2 emissions levels emphasising the top five contributors and the changes in the sources of their total energy consumption from 2008 to 2018. It also presents the countries’ objectives to achieve carbon neutrality or to reduce their carbon emissions.

  • Type: Review Article
  • Published on: 25th May, 2021
  • Keywords: CO2; GHG emissions; Energy consumption; Carbon neutrality;
  • Pages: 135-142
  • Received: 19th April, 2021
  • Final revision and acceptance: 24th May, 2021
Volume IX, SEA - Practical Application Of Science
Issue 26

ANALYSIS OF WORK-LIFE CONFLICT CONSTRUCT IN CASE OF TELEWORK - A CASE STUDY OF TEACHERS FROM KASHMIR VALLEY (INDIA) DURING COVID-19 PANDEMIC

Fatima R. KHATEEB
 

The work family conflict (WFC) as a concept for understanding work-life balance dates back to 1985. Although a number of characterizations have been propounded but the tripartite characterization of time¬- based, strain-based and behavior-based conflict is favored and has achieved greater currency. This study seeks to analyze the nature of WFC in case of telework. The case of online teaching in Kashmir valley during the Covid-19 pandemic is taken up in this study. The experience of conflict between work and life is also assessed with regards to different demographics.

  • Type: Case Study
  • Published on: 31st May, 2021
  • Keywords: Work family conflict; Telework; Online teaching; Covid-19; Teaching;
  • Pages: 143-154
  • Received: 17th May, 2021
  • Final revision and acceptance: 30th May, 2021
Volume IX, SEA - Practical Application Of Science
Issue 26

WHAT'S NEW IN THE NIS 2 DIRECTIVE PROPOSAL COMPARED TO THE OLD NIS DIRECTIVE

Adrian-Viorel DRAGOMIR
 

One of the most sensitive activities in the online environment is to ensure the security of information managed by entities, persons, or public institutions that are stored and traded through IT&C systems in the new technological context. New innovative technologies, in addition to their value, can also have negative sides with security in the digital world, and this is an increasingly common topic in the discussions in this area. Not all security incidents can be prevented, but proactive measures to mitigate their impact must be taken in any context. Information, like any critical resource of any organization, is one of the most important components for businesses operating in the European Union and therefore its protection requires particular attention. Sensitive information has become the target of increasingly numerous and diverse threats and attacks in both the public and private sectors. Cyber security measures can protect organizations from multiple threats to business continuity, data veracity, and increase resilience to cyber-attack and minimize the risk of information theft. In order to try to mitigate as many of the issues described above as possible, the European Commission has initiated the process of revising Directive (EU) 2016/1148 on the security of network and information systems (NIS Directive) since June 2020. On 16 December 2020, the Commission launched the proposal for a NIS 2.0 Directive which will be submitted for debate and approval in the European Parliament. One of the major changes brought about by the new Directive is that the Public Administration becomes a sector covered by the new Directive. Under the new regulations in the proposed NIS 2.0 Directive, the scope of activities covered by the national competent authority in the field of cyber security (CERT-RO cf. Law 362/2018) extends to this new sector, which will explicitly include ministries and agencies of the state, the territorial extensions of the central administration, as well as the structures of the local public administration.

  • Type: Perspective, opinion and commentary
  • Published on: 17th June, 2021
  • Keywords: NIS 2; NIS Directive; National competent authority; Resilience, cyber-security;
  • Pages: 155-162
  • Received: 25th April, 2021
  • Final revision and acceptance: 16th June, 2021
Volume IX, SEA - Practical Application Of Science
Issue 26

QUALITATIVE ASSESSMENT OF PRECISION DAIRY FARMING IMPACT ON FARM SUSTAINABILITY IN UKRAINE: THE FARMERS' PERSPECTIVE

Anastasiia BURDIUZHA
 

The general objective of this research was to investigate one of the management approaches – precision dairy farming (PDF) and based on the example of Ukrainian dairy farms to assess its impact on environmental, economic and social pillars of sustainability. For conducting the study an inductive approach was used, which involved the development of a theory as a result of the observation of empirical data. Primary data was collected through semi-structured interviews and questionnaires via phone, with owners and managers of cow dairy farms of varied categories. In total, 17 dairy farmers took part in the study. Results showed that precision dairy farming technologies are being moderately used in Ukrainian farms. 41% of the participants (seven out of 17) are applying these tools in their farms. Most of the respondents indicated positive impact of PDF technologies on sustainability of farms. Particularly, financial performance of the farms has improved, health conditions of cattle got better and working conditions of the staff amended. Regarding environmental effects, it is hard to draw conclusions since none of the farms was measuring them.

  • Type: Case Study
  • Published on: 4th July, 2021
  • Keywords: Precision dairy farming; Sustainability; Ukraine; Dairy farms;
  • Pages: 163-173
  • Received: 19th May, 2021
  • Final revision and acceptance: 3rd July, 2021
Volume IX, SEA - Practical Application Of Science
Issue 26

CASE STUDY OF RURAL ECUADORIAN REGION AND THE COMPARISON BETWEEN HUNGARIAN RURAL SECTOR

Maria LOURDES ORDOÑEZ, Pető KÁROLY
 

The review article aims to know the reality of the rural sector of one of the essential productive territories of Ecuador. Manabi province is in the center of the country's coastal area on the most relevant part of the South American continent over the Pacific Ocean. It is in a strategic position for trade and agro productive activities. The document will analyze the three dimensions (social, ecological, and economic) in which the rural development of the territories is focused and compare the region described with the Hungarian rural economy. Additionally, it will identify some similarities and differences in the rural sector, particularly the strong relationship between the agricultural activities and the situation of the farmers in this context. This case study serves as an instrument of analysis of a settlement within which rural development works at a general level. Also, it will contemplate a series of statistical information that evidence the territorial reality of the regions that can determine future sustainable rural development strategies.

  • Type: Review Article
  • Published on: 8th July, 2021
  • Keywords: Region; Social, economic, and ecological dimension; SWOT analysis; Rural areas;
  • Pages: 175-181
  • Received: 21st April, 2021
  • Final revision and acceptance: 7th July, 2021
Volume IX, SEA - Practical Application Of Science
Issue 26

AN OVERVIEW REGARDING QUALITY OF LIFE IN ROMANIA

Catalin-Ionut CIOBANU
 

Quality of life is currently a major topic of interest among researchers in many countries. The aim of this article was to assess the country's existing situation in order to outline a complete picture of the quality of life, in the desire to align with the standards set in the European Union and common practices in the field of quality of life in urban areas. Thus, the author conducted a research on the quality of life in the urban environment and described a complete picture of how the Romanian population relates to the various components of quality of life. Also, there are presented the strategic objectives for improving the quality of life of the inhabitants of Bucharest for the period 2020-2024.

  • Type: Review Article
  • Published on: 1st August, 2021
  • Keywords: Quality of life; Urban environment; Social progress index;
  • Pages: 183-189
  • Received: 24th May, 2021
  • Final revision and acceptance: 29th July, 2021