Academic Journal of Economic Studies

12-18

Authors: lena Bogan, Dana Maria (Oprea) Constantin, Ana-Maria Roangheș-Mureanu, Elena Grigore, Gabriela Dîrloman

Nowadays, the tourism for festivals is a sector of the events tourism, in full development, being of particular interest for both the organizers and the public. The study aims to identify the phenomenon as a whole for the tourist interest, proposing a classification in several types of the identified festivals, considering the peculiarities of the time, space and mental mapping criteria of the consumers (at local, national, international level etc.). Taking into account all these, a period of seven years (2009 - 2015) were chosen for study, in order to identify the evolutionary changes which have occurred and to understand their nature. Furthermore, there have also been researched the fundamental aspects of the tourism for festivals in order to demonstrate that this type of tourism is an essential component in the development of tourism in the urban areas.

24-28

Authors: Mirela Cătălina Türkeș

t The paper analyzed the total assets in 2016 achieved by the strongest 96 banks from 4 continents: Europe, America, Asia and Africa. It aims to evaluate the level of total assets provided by banks in 2016 and continental banking markets degree of differentiation to determine the overall conditions of the banks. Methodologies used in this study are based on cluster and descriptive analysis. Data set was built based on information reported by banks on total assets. The results indicate that most of total banking assets are found in Asia and the fewest in Africa. At the end of 2016, the top 16 global banks owned total assets of $ 30.19 trillion according to the data set contains cluster 1 and the centroid was (2.25, 2.11, 3.06, 0.01).

35–49

Authors: Hammed Oluwaseyi Musibau, Suraya Mahmood, Agboola Yusuf Hammed

t This study investigates the impact of foreign capital inflows, corruption, and infrastructure on economic growth among ECOWAS members over the period 1980 to 2016. We adopt the Two-Gap model and using ECM method. The empirical results revealed long run causality between the explanatory variables and growth. And also there are short run causality between FCI, infrastructure and corruption on growth but Political stability does not cause growth in short run. Findings of the study also established a negative relationship between FDI, Infrastructure and real growth while ODA, corruption, political stability have positive impact on real growth among ECOWAS members. We recommend policy across the ECOWAS countries that will attract foreign capital inflow. The policy makers should look inwards, re-strategize and begin to formulate and implement sound and credible economic policies that will be aimed at attracting productive capital inflows into the region.

55–61

Authors: Uzairu Muhammad Gwadabe, Noor Aina Amirah

Myriad of challenges engulfed the Nigerian business milieu. Business activities become more complex and competitive which renders the environment not only difficult for business success but resulting to the increasing failure of SMEs in the country. However, entrepreneurs need to develop strategies to survive in the dwindling economy. It is the duty of the entrepreneurs to interact with the external environmental dynamisms, which require them to be competent in many dimensions. This review proposes a set of competencies that can equip the entrepreneurs with necessary skills and tactics to excel in a challenging economy like that of Nigeria. The paper highlights the conceptualization and synergy between competencies and entrepreneurship on SMEs performance through three distinct paths: entrepreneurial traits, innovation and entrepreneurial marketing.

68-76

Authors: Emmanuel Olusegun Stober

t If we are to go by two consecutive quarters of negative growth to declare a country of plumping into recession, then at five consecutive quarters, Nigeria can be considered to be in depression. Meanwhile, the Q2 2017 GDP result reported by the National Bureau of Statistics is like a beautifully wrapped Christmas gift. The true value can only be revealed and appreciated after the unwrapping of the gift. Thus, this empirical analysis is aimed at dissecting the Nigerian economic performance. It is meant to prove whether the economy has truly exited recession. This study concludes by giving recommendations on what government should be doing to truly improve the wellbeing of the citizens and truly get the country out of recession.

86-95

Authors: Anugerah Iman, Isfenti Sadalia, Khaira Amalia Fachrudin

Every investor wants his company’s financial statement to be in accordance with the condition of the company. In practice, it often occurs that a company does profit management to attract investors’ interest. The factors which can increase the practice of profit management are leverage and financial distress. The objective of the research was to find out and to analyze the influence of leverage and financial distress on profit management with good corporate governance as moderating variable in banking companies in Indonesia. The research used descriptive explanatory method. The data were gathered by conducting documentary study. The population was 42 banking companies listed in BEI (Indonesia Stock Exchange) and the population target was 30 companies. The gathered data were analyzed by using path analysis with E-views 7.0 Software program. The result of the first model showed that leverage and financial distress simultaneously had positive and significant influence on profit management in banking companies in Indonesia at the coefficient determination (R2) of 0.1243 or 12.43%. Partially, leverage had positive and significant influence on profit management, and financial distress had negative but significant influence on profit management in banking companies in Indonesia. The result of the second model showed that institutional ownership as moderating variable could not weaken and strengthen the influence of financial distress on profit management and was considered as potential moderation. The result of the third model showed that managerial ownership as moderating variable could weaken the influence of leverage on profit management and was stated as quasi moderation. It can also weaken the influence of financial distress on profit management and was stated as quasi moderation. The result of the fourth model showed that independent commissioners as moderating variable could not weaken or strengthen the influence of leverage on profit management as was stated as potential moderation. Independent commissioners as moderating variable could not weaken or strengthen the influence of financial distress on profit management and was stated as moderating predictor.

105-109

Authors: Cristina Balaceanu, Doina Maria Tilea, Daniela Penu

The implementation of sustainable development principles in contemporary economic thinking has generated the conceptual remodeling that expresses the new mechanisms of the economy. Thus, the concept of circular economy meet the theoretical representation of an economic system oriented towards the re-use of waste as raw materials and limiting the production of waste that cannot come back into the economic circuit. Circular economy is one that involves even its concept of operation, recovery and regeneration, as much as possible of resources, aiming to preserve, at the highest level, the value and usefulness of products, components and raw materials, distinguishing between technical and biological cycles. In this way, we can find solutions for two major issues affecting today's economy: the limited nature of resources and the pollution generated by the waste resulting from economic activities.

118-122

Authors: Louis Delcart, Nelu Neacșu

The English word Resilience appeals in the present days to many disciplines: armament and aerospace, ecology and biology, economy, physics, thermal, psychology, informatics, art and governance. The present article treats the economic definition of the word and its consequences because resilience is the ability to get back on the growth track after suffering a shock.