Annals of Spiru Haret University. Economic Series

8

Authors: Valentin KULETO, Elena GURGU

This article investigates the relationship between employer branding and organisational performance, identifying the underlying mechanisms contributing to enhanced performance. Next, we analyse various aspects of employer branding, including its influence on talent attraction, employee engagement, retention, and overall productivity. Finally, we provide insights on how organisations can strengthen their employer brand to optimise performance. In the competitive labour market, employer branding plays a crucial role in an organisation's ability to attract and retain top talent, directly influencing organisational performance. This article examines the relationship between employer branding and organisational performance by exploring its effects on talent attraction, employee engagement, retention, and overall productivity. It also offers insights on strengthening an organisation's employer brand to optimise performance. Employer branding, an organisation's reputation as an employer, can provide a competitive advantage by creating a motivated, engaged, and productive workforce. A strong employer brand attracts high-quality candidates, reducing recruitment time and cost and ensuring a diverse and talented candidate pool. Organisational culture, work environment, compensation and benefits, growth opportunities, and corporate social responsibility contribute to developing a strong employer brand. Effective employer brand communication across multiple channels, such as corporate websites, social media, and job advertisements, is essential to attract top talent. Employer branding events and employee advocacy can further strengthen the brand. Assessing the employer brand's strength can help organisations identify areas of improvement and gauge their attractiveness in the job market. Employee engagement and satisfaction are closely linked to an organisation's employer brand. Factors such as leadership, job design, recognition and rewards, work environment, and opportunities for growth and development contribute to employee engagement and satisfaction. Assessing employee engagement and satisfaction can provide valuable insights into their perceptions of the organisation and commitment to its goals. Engaged and satisfied employees exhibit higher performance, productivity, and innovation levels, leading to improved organisational outcomes.

11

Authors: Mihaela AGAGIU, Mariana IATAGAN

The hospitality industry in Romania is faced with a number of factors that unbalance the sustainable prospects of this industry, mentioning: the incidence of the pandemic context, the increase in inflation, the general increase in prices, the increase in electricity and heat tariffs, as well as the increase in the salary level of employees integrated in the activity the hospitality industry. Starting from 2020, tourist operators face the decrease in the number of tourists, as well as the exponential increase in costs resulting from the provision of tourist activity. Looking from this perspective, organizations operating in the hospitality industry are exposed to global socio-economic risks, limiting the innovative perspectives necessary for the development of this industry. Through the article, the incidence of negative socio-economic perspectives on the hospitality industry is measured, identifying the main factors that determined the decrease in the activity and profitability of economic organizations. The content of the article focuses on the innovative perspectives of the hospitality industry, presenting rural tourism and psychotherapeutic tourism as a pillar of tourism recovery and resilience identified in the national context.

13

Authors: Antonia MANDALAC, Mariana IATAGAN

In Romania, social exclusion highlights a reality that removes the perspectives of sustainable development of social equity and economic stability. The pandemic context caused a major discrepancy between national socio-economic environments, placing Romania first in the European ranking regarding the level of social exclusion and material deprivation. The insufficient space of the labor market, the intensity of unemployment, the government restrictions imposed to limit the pandemic context argue the alarming statistics of social exclusion, while the policies and strategies implemented to ensure an honorable standard of living for the Romanian population do not show notable results, limiting the possibilities reducing the level of poverty. The purpose of the article is to measure the level of social exclusion and material deprivation in Romania, formulating sustainable proposals for improving the quality of life of people whose socio-economic status is at the limit of existence.

15

Authors: Fidan HASANLI

The real estate industry is undergoing digital transformation, which affects its working conditions, market appearance, and economic growth factors. The characteristics and operations of real estate markets will be demonstrated in detail which is covered by both basic methods that have remained immutable for centuries and specific possibilities that have recently emerged. The prime idea is to identify industry alterations, the impact of digital transformation, investment decisions, expected future evolutions related to demand and supply, and regression analysis using Ordinary Least Square method which is used to evaluate the data that falls to the plane and variables that go beyond the restrictions in case of Azerbaijan. This paper provides some particular aspects of real estate within economic terms, to show how technological advancements could provide a comprehensive dataset with expected growth rates, real estate risk management, economic evaluation of real estate investment projects, real estate economics and most importantly demand and supply. The study supports fluctuation of prices in this market is mostly based on macro and micro economic levels.

16

Authors: Pedro Uwadum ADAGBOR, Abibat Motunrayo ADEBOLA, Bukola Linda OJEABURU, &Wilfred Isioma UKPERE

People now spend many years of their adult lives at jobs where they are exposed to various hazardous chemicals, unsafe acts, and other diseases because of population growth and rapid technological advancements. Occupational diseases and injuries may arise because of risk factors in the workplace. This study examined health education as panacea to occupational diseases & injuries in Ibadan Southwest Local government of Oyo state, Nigeria. Descriptive survey research design was adopted, and the population comprises of all workers in Ibadan South-West Local government of Oyo state. The sample size was 250 respondents selected using simple and multi-stage sampling techniques to cover the forty-eight manufacturing companies in the area. A self-structured questionnaire was employed for data, which were analyzed using frequencies, percentages, and chi-square at 0.05 alpha level. It was found that the prevalence rate of occupational diseases in the facility had (x2=81.94, p<0.05), the extent to which occupational health and safety programs was promoted had (x2=71.51, p<0.05), the effectiveness of occupational health and safety programs had (x2=64.94, p<0.05). Based on the findings, health education is a panacea to occupational diseases and injuries in Ibadan South-West Local government of Oyo state, Nigeria. It was therefore recommended that Government should provide regular health training programs to review, promote, and maintain occupational health strategies. Manufacturing companies/facilities should employ adequate qualified health educators to enlighten the workers on the risks associated with occupational diseases and injuries.

17

Authors: Palesa Edith PHASUMANE, Darlington ONOJAEFE, Phelokazi STUMA, Wilfred Isioma UKPERE

This paper investigated community perceptions of tourism development and identified their relationship between tourism development projects and business opportunities in Tsatsane community, Lesotho. This investigation was done using a qualitative research method to understand the relationship between respondents perceptions of tourism development projects and associated business opportunities. Using purposive random sampling techniques, 30 respondents—19 community members, 2 community leaders, and 9 stakeholders—were chosen and interrogated. After the choice, both qualitative and quantitative data were gathered using a semi-structured questionnaire that was constructed. While collecting quantitative data by email, the qualitative data used a self-administered questionnaire conducted in-person. Thematic analysis was used to organize the themes that emerged from the replies after they were received. Using Atlas Ti.8, similar themes were gathered and transferred. The study finds a statistically significant relationship between tourism development projects and recurrent themes like new knowledge of tourism-related business opportunities like job creation, increased trade, and education. About 5% of respondents have different opinions.

19

Authors: Roxana-Daniela PAUN

Distance doesn't separate people, silence does!" Artificial intelligence is a reality and it evolves every day, it simplifies life where it is used in the human’s interest, being already applied in many fields. Is there any risk of moving away from the noble goal of being at the service of the collective good and of being used against people to limit fundamental rights and freedoms? Is there any risk that the totalitarian society will re-establish itself, this time on a global level? The current study presents, in summary, a first analysis of the latest developments in this field, starting from the Chinese experience, as far as it is known and popularized regarding facial recognition made by artificial intelligence for monitoring citizens for the social credit system.

23

Authors: Frank O. ETIM, Wilfred I. UKPERE

The work set out to deconstruct and reconstruct Ted Roberts Gurr’s (1970) theory of relative deprivation, frustration-aggression as contained in his work ‘Why Men Rebel’ (1970). The study used descriptive research design and evaluated the capacity of the theory which was created to explain political violence in Africa and Asia in the colonial era, to also explicate why intense relative deprivation, frustration and aggression arising from the avalanche of poor governance in postcolonial African states such as Nigeria and many others, have not culminated into political violence and rebellion. The study presented numerous data obtained through observation and analysis of events in Nigeria, Africa and case-studies of American, French, English and Russian rebellions and distilled qualitative data which indicated lack of association between the variables. The application of the study design revealed first the state as the source of relative deprivation, frustration and aggressions of the citizenry when they are denied access to the public values which they feel entitled. Secondly, it further discovered that there are no direct correlations between relative deprivation, frustration and aggression as initially conveyed by the theory since 1970. Furthermore, it exposed that there is an intervening variables identified as ‘Social Movements’ or ‘Civil Society Organizations (CSOs), which harness relative deprivation, intense frustration and aggressions from the sufferers and convert them to other set-of-actions which may not be political violence and rebellions but could be advocacy towards the expansion of the mechanism for supply of public good or values and to make it accessible to many to address relative deprivation. The study concluded in the light of its findings, the initial theory require deconstruction and reconstruction to include ‘Social Movement’ as a principal component, it is only then that it could be applied in the analysis of issues in postcolonial African and Asian states.

24

Authors: B.O. OGINNI, I.O. AYANTUNJI, A. AWOLAJA, A.S. ADESANYA4 & H.O. OJODU

The study investigated HRM policies and practices on employee commitment to determine their relationship and effects on employee commitment using the SMEs in the South-West, Nigeria as the unit of analysis. The study identified recruitment and selection, training and development, compensation and reward systems, performance appraisal, working conditions, and employee participation as the prevailing HRM policies and practices in the SMEs and singled out compensation and reward systems, working conditions, and employee participation. A multi-sampling technique and survey research method was adopted while copies of questionnaires were administered to 369 respondents. It was found that there exists a positive relationship between HRM policies and practices and employee commitment while compensation and reward systems, working conditions, and employee participation in decision-making have more effects than other variables and R2 of 76% can also explain the variation on employee commitment. It was concluded that among all the activities embarked upon by the SMEs, in South-West, Nigeria towards the attainment of business objectives, HRM policies, and practices have a more significant effect on employee commitment most especially compensation and reward systems, working conditions, and employee participation. Thus, recommended that reward systems should be made competitive through environmental surveys and objectivity should prevail in the practice of the HRM policies.

25

Authors: Devajit MOHAJAN, Haradhan Kumar MOHAJAN

In this study method of Lagrange multiplier is considered to investigate profit maximization policy. In the twenty first century global economy faces serious complexities. Sensitivity analysis of economic firms becomes essential part of sustainable economic environment. The method of Lagrange multiplier is a very useful and powerful technique in multivariable calculus that is applied in economic models to obtain higher dimensional unconstrained problem from the lower dimensional constrained problems. This paper proceeds with Cobb-Douglas production function, where 6×6 bordered Hessian and 6×6 Jacobian are used to examine sensitivity analysis efficiently and elaborately.

11

Authors: Oloyede Raheem LAWAL, Michael Ayorinde AFOLAYAN

The Nigerian public service is crucial to the country’s economic development. This is because a vibrant public service sector is able to harness effectively overhead taxes and also account for public expenditure at all levels. The objective of this study is to investigate how public servants perceive work ethics to positively influence organizational success and productivity in Nigeria’s public sector. In this study, the researcher used qualitative methods to analyze the response of 15 individuals from the public who have visited a typical public office at least 3 times within the last years. An interview form containing 7 items was administered, and the results were analyzed from themes that give a true picture of the perception of respondents. It was observed that workers in public service are not professional enough, taking their jobs with levity. As a result, this study recommends public service reforms.

13

Authors: Mansuma ALIYEVA

Big and successful companies understand the importance of the human factor. Unfortunately, the purpose of some small and not very successful companies is only to make a profit. Many of them do not think about the ways how that profit is made. The abuse of people’s knowledge and skills has never been considered to be correct and never will be considered. The loss of employees’ loyalty is the result of underestimating their personality, desires and needs, which is common especially in the service sector. This article is about human resources and their role in the hotel sector of Azerbaijan. The purpose of the article is to emphasize the importance of the human factor in the development of tourism in Azerbaijan and the importance of investing in human resources in order to achieve quality and competitive advantage. The paper adapts and modifies the human action model to use it in analyzing the effectiveness and success of hotel companies.

15

Authors: Pretoria IPIGANSI, Sunday Stephen AJEMUNIGBOHUN

Risk financing is a critical element of a resilient future. Risk management techniques are important metrics in safeguarding the lives and property of mankind. Therefore, this study aimed at assessing the effects of financial risk management techniques on business performance, with specific reference to the perceptions of selected SMEs in Lagos, Nigeria. The study adopted a cross- sectional survey research design. The study population consisted of the total number of registered SMEs recorded in Lagos State at 11,666. Thus, both single-stage cluster and convenience sampling technique were employed in the questionnaire distribution and data collection processes. Two hundred and forty-eight (248) respondents were used in the study. The statistical technique employed was simple regression. This study confirms the importance of financial risk management techniques in business performance of selected SMEs operators in Lagos, Nigeria. It is recommended that insurance providers in Nigeria should attempt to tailor insurance products in a lovable and affordable manner to SMEs’ operators/owners in a bid to improve on their behavioural risk attitudes. More so, interest should be placed on impressive risk management communication and ideal physical risk control techniques among SMEs’ owners/operators.

18

Authors: Bojana NOVIĆEVIĆ ČEČEVIĆ1, Jovana MILENOVIĆ, Tamara RAĐENOVIĆ

Investing in research and development (R&D) activities greatly impact the assessment of the company’s finances and performance, which is why the issue of the accounting treatment of these costs is so important. The aim of this paper is to examine the relationship between investment in R&D activities and the profitability of pharmaceutical companies, i.e., to see whether R&D activities can affect the financial position and performance of 30 pharmaceutical companies in the period from 2010 to 2020. The obtained results show that investing in R&D activities has a positive effect on net income, earnings before interest and taxes, and earnings per share (EPS).

19

Authors: Milena NIKOLIĆ , Danka MILOJKOVIĆ, Mirjana JEMOVIĆ

Life insurance companies as institutional investors are key participants in the global financial market. By collecting the savings of the insured, accumulating large amounts of funds and their long-term investment into various financial instruments, these companies affect the development and stability of the financial market. Considering their significance, the aim of this paper is to determine the determinants of life insurance demand by analysing the environment in which these companies operate on the European financial markets, in order to detect the possibilities for increasing the sale of life insurance policies, and thus the amount of collected amount that will be invested in the financial market for a long term. Based on the research results, determinants that may encourage the life insurance demand in European countries are determined and the recommendations on how to manage the sale of life insurance policies, with the aim of increasing the amount of collected funds.

21

Authors: Abiodun Samuel ISAYOMI, Olumide Olumuyiwa OMODUNBI, Bmidele Perowei ABALABA

Genuine redistribution of income is usually not commonplace in underdeveloped democracies. Instead, politicians in these democracies often target private, excludable and reversible benefits at the poor in exchange for electoral support. This electoral strategy often results in a situation where maintenance of political power or re-election becomes the focus of public policies instead of public welfare. This study investigated the main and interaction effects of income inequality and clientelism on government effectiveness in West African Countries from 1996 to 2020. The study objectives were achieved using pooled mean group (PMG) approach of the panel autoregressive distributed lag (ARDL) estimation technique and the Dumitrescu Hurlin panel causality test. Findings from the study revealed that clientelism enhances government effectiveness at higher levels of income inequality but inhibits government effectiveness at lower levels income inequality. The study findings also revealed positive relationship and uni-directional causality between income inequality and clientelism. The study concluded that government effectiveness which thrives on lower levels of income inequality and clientelism is beneficial to socioeconomic development; and that socioeconomic development and government effectiveness is interdependent and mutually reinforcing.

22

Authors: Sunday Adekunle ADULOJU, Taiwo Olarinre OLUWALEYE

This study explores the effects of risk financing techniques on the safety culture among selected road construction companies in Ado-Ekiti, Nigeria. The study engaged a descriptive survey research design. The population of the study comprises all twenty-eight (28) indigenous road construction companies in Ekiti State out of which seven road construction companies were purposively chosen for the study. A total of 130 copies of a structured questionnaire were dispersed among the respondents to gather data for this study, out of which 118 which represent a 90.6% response rate was found useful for analysis. Descriptive and inferential statistics were used for data analysis. The regression results the from structural equation model revealed that the Risk retention has a significant influence on the safety culture with estimates .143(P= .015< .05) while the risk transfer technique recorded an estimate -.002(P=.987>.05) indicating a negative insignificant relationship with the safety culture of road construction companies in Ekiti State, Nigeria. Finally, this study confirms that risk financing techniques hold a negative significant joint influence on the safety culture of road construction companies in the metropolis of Ado, Ekiti State based on reported estimates -.591and(P =***< .05). Therefore, the researcher recommends that road contractors should be meticulous about the appropriate risk financing techniques that will aid safety culture.

10

Authors: Ahmed Owolabi OLAJUWON

Nigeria's youth unemployment rate is at 54.4% in the last quarter of 2020 (National Bureau of Statistics, 2020) which thus gives us an obvious reality of the danger of ever-increasing youth unemployment flooding the landscape of Nigeria, while several governmental initiatives in time past have not been able to help in curbing youth unemployment challenges in Nigeria, this study adopt the systematic review analysis in assessing the capacity of apprenticeship and informal sector capacity in reducing youth unemployment in Nigeria. This study calls for apprenticeship modernization and informal sector support in reducing youth unemployment in Nigeria as both apprenticeship and informal sector were proven to be significant measures in reducing youth unemployment in Nigeria.

13

Authors: Jelena STANKOVIĆ

In modern business conditions, people are constantly engaged in building their identity, so the symbolic characteristics of products are often the primary reasons for their purchase. Brand personality is generally understood as a characteristic of a brand. Accordingly, just like people, all brands have a certain degree of personality. In some cases they are very emotional and lively, in other cases they are underestimated or barely noticeable. Since the brand personality is an intangible category, marketing experts strive to understand the needs of consumers and how the brand personality affects their preferences and loyalty. Starting from the existing theoretical views, the aim of the author is to investigate the relationship between the personality of the consumer and the personality of the brand in the mobile phone market in the Republic of Serbia. The intention is to look at the relationship between personality characteristics and individual dimensions of the brand personality based on the obtained empirical data, based on which the connection between these variables will be identified, and then guidelines for further business in the mobile phone market.

15

Authors: Olufemi Samuel ADEGBOYO, Dominic Olorunleke OLUGBAMIYE, Olakunle ADEPOJU

The study conducts investigation into how migrant remittance drive private investment in Nigeria spanning from 1980 to 2021. The study adopts flexible accelerator theory as its theoretical framework. The study employs Augmented Dickey-Fuller (ADF) unit root test to test for stationarity of each variable, and the result reveals that there is mixed among the variables. Sequel to the mixed level of stationarity of the variables the study employs ARDL estimation technique to investigate the impact of migrant remittance on private investment. The study found that in the short run migrant remittance and interest rate drive private investment while exchange rate, gross domestic product growth rate, inflation rate and financial deepening crowd-out investment in Nigeria. Whereas in the long run, all the variables drive investment aside financial deepening. Consequently, that policy makers and government should formulate policies for free flow of remittance into the economy without any difficulties, also the study recommends that adequate monetary policy should be formulated to ensure that the financial sector serves its function of enhancing private investment in Nigeria.

17

Authors: Adenike Titilayo EGUNJOBI

High GDP per capita and growth rate seems not to spur greater reduction in poverty and inequality in most African countries. Thus, this study examined the possible cause of this unparalleled situation and established the nature of the relationship between the much better measure of economic well-being (GDP or HDI) using panel data analysis on cross section data collected for 15 countries in Sub Saharan Africa (SSA). Conducting the Hausman test, it was discovered that the Fixed Effect Method rather than Random effect Method was more efficient in interpreting the behavior of GDP per capita and HDI. The results showed that HDI is a better measure and determinant of wellbeing than GDP per capital. Furthermore, the variables of the model were all statistically significant and correctly signed. The study recommended that governments should embark on programs that directly impact the quality of life of the people.

17

Authors: Devajit MOHAJAN, Haradhan Kumar MOHAJAN

In this paper, the method of Lagrange multipliers is used to investigate the utility function; subject to two constraints: budget constraint, and coupon constraint, and to verify that the utility is maximized. An economic model of an emerging firm has been developed here by considering four commodity variables. In the study, the determinant of the 6×6 bordered Hessian matrix is operated to verify the utility maximization. Two LaGrange multipliers are used here, as devices of optimization procedures, during the mathematical calculation. In this article, an attempt has been taken to achieve optimal results by the application of scientific methods of optimization.

18

Authors: Samuel C UGOH, Celestine OKWUDILIABASILI, Wilfred Isioma UKPERE

Funding government expenditure can be achieved through imposition of compulsory tax or levy on individuals and businesses to raise revenue for the different functions of the State. Invariably, taxation is the forced contribution of money by an individual, exacted pursuant to legislative authority for support of the government and public welfare. This paper examined the extent to which voluntary compliance and obedience to the discharge of civic obligations such as income tax payment is influenced by governance responsiveness. The study adopted extensive review of literature on governance in Nigeria to interrogate the public compliance to income tax, regulations against the background of the historic culture of tax avoidance and evasion. The paper adopted the Social Contract framework to analyze and understand the phenomenon of both dependent and independent approaches. This paper revealed a significant level of noncompliance to public laws in Nigeria’s Fourth Republic due to government unresponsiveness to societal needs and aspirations. Accordingly, the adoption and institutionalization of good governance practices was recommended as a sure way to win public trust and voluntary participation in civic obligations.

21

Authors: Etim O. FRANK, Wilfred Isioma UKPERE

The study examined the concept of health security and its applicability in Nigeria and upheld its desirability because safety is man’s most prized want, including health security. However, the culture of Nigeria’s ruling class, which relies on overseas medical tourism, made them unaware of this phenomenon. The study applied the descriptive design, using the case study as an investigation tool, since health security is embedded in human security. The case study procedure revealed that Nigeria spent merely two thousand Naira per capita per population. This was reflected in the country’s low budgetary allocation each year, which is also the lowest in the African continent. This accounted for why the Nigeria Medical Association (NMA) embarked on strike action often as means to demonstrate inadequacies in the sector and to make the ruling elite understand the symbiosis between human and health security to prompt them to allocate resources adequately to both areas. This approach revealed that to have health security, infrastructure must be provided adequately at three levels, namely primary, secondary, and tertiary health centers, respectively. These levels must support each other, and the services should be accessible, available, and affordable. Health security must form part of the agenda for public policy in the health sector because it is unknown to public policy drivers and the National Planning Commission that design developmental plans for Nigeria. In the absence of a functional national health insurance scheme, affordable health security is an alternative. This is one of the major ways in which the life-expectancy of Nigerians, who live in a country surrounded by brutish living conditions, can improve. Amongst others, this study proposed that the ruling elite should obtain their healthcare needs within the country, whilst all employers who have 25-30 employees, should establish a health insurance scheme for their employees.

22

Authors: Jasmina OGNJANOVIĆ, Bojan KRSTIĆ, Tamara RAĐENOVIĆ & Milica JOVANOVIĆ VUJATOVIĆ

The purpose of this paper is to provide the answer to the question - Can the efficiency of intellectual capital (ICE) be a factor in maintaining the profitability of young and mature hotel enterprises in the crisis caused by the Covid-19 pandemic? The key goal of the paper is to point out the importance of intangible (intellectual) resources for improving business performance, and above all, profitability. To respond to the goals of the research, an analysis of the contribution of human capital efficiency (HCE) and structural capital efficiency (SCE) to the profitability of young and mature hotels in the year before the crisis and the year of crisis in the Republic of Serbia (RS), as an emerging country will be given. The study's findings suggest that the ICE components have a partial impact on the profitability of young hotels in the year before the crisis. In the year of crisis, the ICE components partially affect the realization of sustainable and profitable business among mature hotels.

25

Authors: Elena GURGU, Gabriela UNGUREANU, Eugen GHIORGHITA, Diana-Virginia CRACIUNAS, Ioana-Andreea GURGU

Change is a common thread that runs through all businesses, regardless of size, industry and age. The business world is changing rapidly, and organizations must change just as quickly. Organizations that engage in change thrive, while those that do not end up struggling for survival. Change leadership plays a key role in any successful business, representing an important part of leading a high-performing team as well as a successful business. Regardless of whether a company's team is working on a project, a software update, or an ongoing optimization idea, change leadership is extremely important. As the business grows, so does the team. With more employees and more tasks, any business needs a plan to manage change and stay on track for performance. Given the fact that resistance to change can play a major role in determining how a company operates, it is necessary for those who deal with change leadership to find strategies and solutions to avoid mass resistance when a change occurs. In this paper we will address precisely the strategies, solutions and planning of a permanent leadership of change at the company level, so that a business becomes successful. We will go through the steps that were taken by a company to get the agile-performing and practical- transformational change leadership model, which comes with strategies, principles and modern business tools and solutions.

28

Authors: Nicola WAKELIN-THERON, Wilfred Isioma UKPERE

The taxi industry provides mobility and employment. Sustainable transportation must be served by innovative practices, namely new mobility types, appropriate infrastructure, and intelligent systems to manage livable environments. This study aims to determine the current practices and sustainable alternatives for taxi role players and the Department of Transport. The objectives were to determine probable future changes as well as ascertain whether there is a gap between the future of transportation and the vision of stakeholders. A qualitative research approach using semi-structured individual interviews was adopted. Participants for the study were selected purposively in Johannesburg and included people working in industry as well as experts in the field. The findings highlighted a significant gap between the understanding of the South African National Taxi Council, Department of Transport, taxi owners, taxi marshals, and taxi drivers regarding the way forward towards embracing sustainable practices. The researchers conclude that sustainable innovations are imperative for transportation development, economic growth, as well as reaching the United Nations sustainable development goals. This study provides a good understanding of the backgrounds unique to taxi industry in Johannesburg, sustainable mobility practices, as well as gaps in the industry.

8

Authors: Irena TODOROVA

The report presents the objective need for motivation as an element of managerial impact in the Ministry of Internal Affairs. The activity of the state administration should correspond to the high public expectations for professional competence, legality, integrity, correctness, and responsibility. That is why motivation is the key element that leads to the formation of specific behavior aimed at the observance of value orientations in the performance of official duties and is an important prerequisite for the prevention of corrupt behavior among the employees of the Ministry of Internal Affairs.

11

Authors: Jannatul FERDOUS, Haradhan Kumar MOHAJAN

This article tries to calculate a maximum profit from sale items of an industry. This study has considered three inputs, such as capital, labor, and raw materials and other inputs for the mathematical analysis of the production procedures of the industry. In the present competitive global economy policy, to survive strongly, there is no alternate of sustainable economy. For the survival of an industry, profit maximization policy is vital. To acquire maximum profit, the production unit of the industry must be run in an efficient way. In this study an attempt has been taken to maximize the profit of an industry using Lagrange multiplier technique by applying necessary and sufficient conditions.

12

Authors: Daniela PAȘNICU

The needs of the workforce are constantly changing as a result of global concerns about digitization, production automation, the introduction of new technologies and industry 4.0. Therefore, the labor market needs a continuous reassessment of labor skills in the context of digitalization and the industrial revolution. The paper will study the change in perspective of the structure of the employed population by occupational groups and in high-tech economy of Romania compared to UE27 and the most requested skills currently in online job postings in various fields, based on traditional and intelligent data from Cedefop. It is also intended to understand how the use of BigData can facilitate labor market decision-making. The analysis of the skills required in the jobs posted online from various fields in Romania, in 2020, suggests importance of digital and contextual skills having in view that in the top is ,,accessing and analyzing digital data”, followed by ,,working with others” and ,,using digital tools for collaboration, content creation and problem solving”.

13

Authors: Sebastian Cristian CHIRIMBU

A modern educational institution should create the necessary conditions for the integration and development of the personal and professional competences of the teachers in order to obtain a successful career. In the current context of the educational system in the Republic of Moldova and Romania, the capitalization of human resources is a priority objective of the managers of educational institutions. The difficulties they face, the constantly changing educational reforms, the unpredictable and challenging situations are known partially or impartially theoretically and practically by teachers who are beginning to integrate into the institution, and the process of insertion from educational institutions is often not effective. We will analyse the characteristics of a successful career but also the motivation for achievement as an important component of the professionalization process, teachers thus tending to pursue challenging careers, complex enough, but not so difficult as to end in failure. Therefore, if professional motivation is an important endeavor, because it starts from the idea that a large part of everyone's life spends at work, performance denotes the achievement and ability of the teacher to respond to tasks and to be a model for those in the organization when it comes to involvement and responsibility.

13

Authors: Mihaela BEBEȘELEA, Adina TRANDAFIR

The objective of the article is to produce and validate a statistical model for quantifying the performance of family firms. Such aim will be achieved through the analysis of a sample of 27 entities from the “family firms from Romania” group. The statistical hypothesis underlying the specification of the model is one according to which selected variables will distinguish the performing family firms from the non-performing ones, regardless of ownership. The article addresses an alternative possibility for assessing the financial performance of family businesses, namely a model created by Carton, R. The complex indicator created by Carton, R, is composed of performance factors such as asset growth, debt change and degree change survival rate (Z-score change), calculated using the Statev coefficient, Z-score. The indicators that were used are extracted from both the Entities’ Balance Sheet and their Profit and Loss Account (on-line), while the modelling is carried out through the Excel statistical modelling.

16

Authors: Zanele L. MPABANGA, Wilfred Isioma UKPERE

Globalisation has been perceived as the integration and spread of information, processes and technology across organisations and nations. It has accelerated transformation and change in organisations, with the effect of strengthening or, as the case may be, weakening employment relations within organisations. Globalisation has been characterised by a rise in the use of casual employees, decentralisation and continuous advancement in technology, which ultimately affects employment relations. Therefore, this paper sets to explore the effects of globalisation on employment relations in South Africa’s film industry. The current investigation adopted a qualitative research approach, which was carried out in an organisation within the film industry in the city of Johannesburg, South Africa. Purposive sampling was used to collect data from ten employees at various levels in the organisation. Data was obtained by means of semi-structured face-to-face interviews with the research participants. The findings revealed that the effects of globalisation are twofold, as it has both positive and negative effects on organisations. From a positive perspective, it was found that globalisation has helped to promote inclusive workplaces, effectively manage tensions and conflict in the workplace, and improve communication between parties in the employment relationship. Furthermore, it was discovered that interactions between management and employees have increased since globalisation. Conversely, the current findings uncovered that there are increasing tensions in the employment relationship. There is also evidence of less training to workers in the film industry. The findings further revealed that using casual employees in the film industry has increased, and many of them are confronted with several challenges, as they do not get the same benefits that their counterparts in permanent employment receive. Hence, generally, this paper’s outcome could be used in organisations to address some of the negative effects of globalisation in respect of relationships in the workplace, particularly in the film industryg.

18

Authors: Tinashe R MUSHONGA, Wilfred Isioma UKPERE

The 21st century introduced several technological advancements, including artificial intelligence, and these technologies affected almost every industry in every country. Freight management services in Zimbabwe had also adapted to these technologies to keep abreast with global pressures. Hence, embarking on massive workforce re-engineering strategies and downsizing had been the most popular strategy. However, organisations have to deal with consequences of downsizing, and employee commitment as one of these consequences.

20

Authors: Augustine Ejededawe OSHO, Ibukun Felix ADEWOLE

The study examined the relationship between international transfer pricing and the performance of supranational companies in Nigeria. The study used secondary data from the Central Bank of Nigeria (CBN) Statistical Bulletin, the Federal Inland Revenue Service (FIRS), the World Bank Statistical Bulletin, and annual reports and accounts of the sampled multinational companies. The study used panel regression analysis. The results of the study showed that interest rates and import duties have a significant and positive effect on the performance of supranational corporations in Nigeria. The study further found that corporate income tax and exchange rate have a significant and negative impact on the performance of supranational corporations in Nigeria. Based on the results, the study concluded that international transfer pricing has a significant impact on the performance of supranational companies in Nigeria, particularly when international transfer pricing is measured using interest rates, exchange rates, corporate income taxes and import duties; while performance is measured by profit after tax. The study therefore recommended that supranational companies should develop a system to defend themselves against exchange rate and corporate taxes caused by unforeseen exchange rate movements and double taxation.

21

Authors: Haradhan Kumar MOHAJAN

In this paper the Cobb-Douglas production function is operated in a firm for the analysis of the cost minimization policies. In an economic world, gain of profit depends on the efficient use of raw materials and use of various techniques of the cost minimization. A firm’s main target is to make maximum profit. Scientific based and efficient but minimum cost procedures will favor in this regard. To increase local and global demands, a firm of course develop production sector. An attempt has been taken in this study to minimize cost by considering four inputs, such as capital, labor, raw material, and other inputs to form the economic model subject to a production constraint within the budget.

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Authors: Wilfred Isioma UKPERE

Capitalism, as it is known is based on the concepts of competition, profit motive, private enterprises (self-interest) and scientific management. These key catalysts set the motion for capitalist expansion, exploration and exploitation. One notable area where capitalism has naturally done exceptionally well based on its characteristics, is within the domain of scientific management, which has spurred technological innovations as well as triggered techno-globalisation. In spite of several warning signs of the impact of techno-globalisation on the sustainability of labour, the world advanced into the 4th Industrial Revolutions, which is also driven by highly sophisticated technological advancements. The 4th IR has unique features, namely, smartphone takeover almost every aspect of business activity; knowledge generation is made possible through big data; robotics may likely replace many human routine activities in the workplace. The new trend will certainly lead to massive job losses as well as create new ones within the industry, which could have detriment effects for labour sustainability. However, some mechanisms have been postulated in this treatise to improve the status quo.

38

Authors: Godwin Emmanuel OYEDOKUN

This study sought and investigated the determinants of forensic accounting techniques. The data analysed in this study were gathered from both primary and secondary sources. The 120 respondents were purposively selected, which includes forensic accountants, fraud auditors, bankers, forensic investigators, finance enthusiasts, fraud investigators, and those in academia. The data for this study were gathered electronically using an online questionnaire through Google Form. The Google Form analysis was adopted. Secondary data were the existing data, established by seasoned professionals and academics. The data were presented through pie charts, bar chats, and descriptions. The study shows that the nature of fraud under investigation which includes the level of crime perpetrated, how much involved, stages, complexity, and who is involved are the determinant of techniques to be applied to fraud examination. Also, other factors such as criminal evidence, the expertise and experience of the examiner, organisational policies, and the risks involved determine what techniques to be applied to forensic investigations. Data mining emerged as the most appropriate technique for fraud investigation, however, the combination of two or more techniques is advised for forensic accountants, forensic legal practitioners, and all other similar parties. This study recommends the need for stakeholders to engage, recruit, and employ the services of a forensic accountant to review, strengthen, reappraise records and internal control systems on a routine basis. Organizations should train employees on the dynamics and scope of financial crimes, the legal environment, fraud prevention, and ethical issues.

7

Authors: Bianca RUSU, Lăcrămioara HURLOIU, Iulian HURLOIU, Marinela GEAMĂNU

In a business environment that constantly and rapidly changes, future prediction becomes more important than the simple visualization of historical or current perspectives. For effective future prediction, data analysis using statistical and predictive modelling techniques may be applied to enhance and support the organization’s business strategy. Therefore, the effective use of data is becoming the basis of competition. Big data fundamentally change the way businesses compete and operate. Companies that invest in and successfully derive value from their data have a distinct advantage over their competitors. This performance gap will continue to grow as more relevant data is generated and the technologies that enable faster, easier data analysis continue to develop.

10

Authors: Mariana IATAGAN, Raluca ZORZOLIU, Elena GURGU

Digitalization is fundamentally changing companies and other organizations, just as the business world has never seen before. Changes also take place on the financial and accounting side of a company. Future digital advancements are a necessity because providers use this type of systems. The use of new technologies in business management is expected especially in terms of document recognition, data exchange, receipt and payment transactions, communication, excel replacement, text recognition. Big Data is becoming an indispensable resource for many organizations. Digitalization is fundamentally changing companies and other organizations, just as the business world has never seen before. The term Big Data has evolved in a flash to take into account the rapidly expanding quantities of digital information systems that are generated, the hard work of creating that information that can be analyzed, and the actual use of that data as capital to increase efficiency, create and enable innovation, and improve decision-making.

11

Authors: Samuel C. UGOH, Kahinde Abiodun ISINKAYE, Wilfred I. UKPERE

This study adopted historical approach to political research and used secondary sources of information. This paper focuses on assessing financial challenges facing local governments in Nigeria. The study observed that insufficient allocation from the federation account, lack of effective revenue generation drive, mismanagement of funds, intrusion of the state government into local governments use of funds, amongst others are the major challenges confronting local governments. Nevertheless, if right strategies such as effective planning, accountability, transparency, curbing of financial mismanagement, sound business undertaking, increased fund allocation from federation account are adopted, local Government may be in better position to accelerate the pace of infrastructural development in Nigeria.

16

Authors: Dragoș Mihai UNGUREANU

Digitalisation has spread to every corner of our lives and transformed how we pay. In this new era, a digital euro would guarantee that citizens in the euro area can maintain costless access to a simple, universally accepted, safe and trusted means of payment. A digital euro would not replace cash, but rather complement it. The Eurosystem will continue to ensure the access to cash across the euro area. A digital euro would give an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion. It would support the digitalisation of the European economy and actively encourage innovation in retail payments.

17

Authors: Nevenka POPOVIC SEVIC, Milica SLIJEPCEVIC, Ivana RADOJEVIC

Over the last decade, new technological progress has enabled the researchers to use neuroscience not only for scientific but also for marketing studies, so they can explore, at the same time, conscious and unconscious drivers of consumer behaviour in real daily situations. Applying brain science to consumer behaviour, neuromarketing—a new innovative marketing research discipline—examines consumers’ response (sensory, motor, and cognitive) to advertising stimuli. This article focuses on three key areas: literature review, challenges and limitations of neuromarketing, and neuromarketing trends, with several concrete real-life examples in different business industries. Practical challenges and limitations within the neuromarketing research, such as ethics, accessibility, costs and timing, but also side effects, are discussed. At the end, this article emphasizes many practical implementations of neuromarketing in different business branches, with the adoption of academic and scientific neuroscience researches to commercial purposes.

18

Authors: Umid VALIZADA

Human life is like swimming against the current. If a person is not making an effort to move forward, the current will undoubtedly drag him further back at any moment. This is true for every area touched by human hands. In business life, institutions have to swim against the current, just like people. Today, digital transformation and its effects emerge as a topic that is discussed extensively in academia and practice and constitutes the business agenda of companies. The digital age changes not only the way of doing business, but also customer relations, service models, product styles and most of all, the perception of "talent". This rapid transformation in business strategies has led to the emergence of digital leaders with new and different skills in the short term. These leaders focus on different points than traditional leaders. The aim of this study is to examine the effects of the digital age on leadership theory, how the new leadership model is defined and the studies carried out in the relevant period in order to reveal its dimensions.

19

Authors: Rafiyat Bosede OLANIYI, Kayode Peter ABILORO, Niyi Oladipo OLANIYAN

This research studied the link between capital structure and financial performance of Nigerian manufacturers. It evaluated the nexus between total debt and financial performance of listed manufacturing companies in Nigeria, the nexus between equity and financial performance of listed manufacturing firms in Nigeria Stock Exchange. The study used ex-post-facto data to investigate variable relationships. Nigerian manufacturing firms were studied. The data was taken from the company's (2005-2020). Both descriptive and inferential statistics, such as Pearson correlation and panel regression, were used to examine the data. Return on equity, equity capital has a substantial influence on the performance of Nigerian manufacturing companies. 6.34 and 0.26 Total debt assessed by asset debt-to-equity ratio has no influence on stock market performance (p>0.6580). Sand return on equity has a positive significant influence on financial performance of Nigerian manufacturing firms by 6.331 (p = 0.0000.05) and 0.117 (p = 0.0070.05); long-term debt also has a positive significant effect. The study found that equity capital, total debt, and long-term debt have the potential to positively and significantly influence the financial performance of manufacturing firms in Nigeria, whereas short term debt has the potential to positively and insignificantly influence financial performance. Total asset has the potential to positively and significantly influence financial performance.

21

Authors: Roxana-Daniela PĂUN

Blockchain technology is becoming one of the most prominent trends in finance and digital innovation since the creation of the Internet. Blockchain technology makes data private, permanent and verifiable. Data and transaction logging is public, but encryption protects them from prying eyes and tampering. The architecture of the blockchain database and the associated protocols provide a solid foundation for creating new classes of applications. This is just the theory. In practice, however, blockchain technology has proven to be somewhat less miraculous. It is powerful and effective in a wide range of areas, but in addition to the well-publicized benefits of blockchain, experts have discovered a set of disadvantages of blockchain technology. That's why the Bitcoin blockchain is often referred to as the "open register" of Bitcoin. Experts around the world, with the exception of a few skeptics, see blockchain as a high-impact technology that has the potential to revolutionize the world of finance, gaming, entertainment and more. Starting from the analysis carried out by specialists in the field on their website, and from information on this technology, the present study brings some arguments to draw the attention of the more or less informed reader to the risks and dangers to which they are exposed and to whom this technology is applied in sensitive areas regarding the life, health, freedom and privacy of the citizens of this planet. Even if the role of this technology in some fields is undeniable, it must still be treated with great care from the perspective of respecting the fundamental rights and freedoms of human beings, the universal values that mankind has gained in centuries of human effort and sacrifice for current and future generations to evolve without repeating the mistakes of history. History makes fun of those who do not know it, repeating itself, said Nicola Iorga.

37

Authors: Creativity and Innovation in Public Relations, as an Important Tool in Assisting Managerial Decisions

In this study, we write regarding creativity and innovation in public relations, of which it is evident that we need as a necessary means in supporting managerial judgments. For us, creativity in public relations can be a new way to achieve a goal easier, more efficient and faster. It is evident that every client acknowledges creativity, but in frequent situations, it does not convert into evident cases or messages for a mass audience and then is not visible. We also discuss in our study the profile of a ingenious public relations professional, who must be: engaged, instructed, ambitious for performance, having logical knowledge, having malleable and decisive judgment, being an idealist. In this analysis we will make an investigation to show that ingenuity can appear in one of the subsequent positions at the corporate administration zone: either in planning (positioning, outlining) or implementation (technique, presentation information, knowledge).