Business Excellence and Management

5-20

Authors: Yang CAO, Joseph P. OGDEN, Cristian I.TIU

This paper provides a critique of alternative organizational structures in the hedge fund industry. Our critique is facilitated by several stylized models describing alternative industry structures. The models include: (1) An insideonly hedge fund model; (2) A straddling hedge fund model; (3) A straddling “feeder” fund of funds (FOF) hedge fund model; (4) A stand-alone outside hedge fund; and (5) An outside “feeder” FOF hedge fund model. Our discussion of these models, which centers on benefits vs. fundamental problems related to illiquidity, information asymmetry, and conflicts of interest, leads to several hypotheses about the differential characteristics and return performance of both individual hedge funds and FOFs. We test as many of these hypotheses as data availability allows, and evidence is consistent with these hypotheses. Regarding characteristics, we predict that some hedge funds and FOFs will have greater leverage and/or more restrictive withdrawal policies than others, and evidence is consistent with these predictions. Regarding return performance, we predict that certain hedge funds, and FOFs in general, will have relatively poor return performance, and evidence is consistent.

31-40

Authors: Marian-Mihai CIOC

The first part of the paper addresses the issue of group decision making, in the context of theoretical and methodological conceptualization of the main approaches for developing and using collaborative platforms, as well as those related to deployment of GDSS (Group Decision Support Systems). The second part of the paper is focusing on a business development model and a set of IT support functions for collaborative activities, consisting both of collaborative tools (online accessibility, communication facilities in remote, interactive exchange of information synchronously − like chat, brainwriting − or asynchronously − like forums, project management -) and the automation of computer algorithms for identification and analysis of decisional alternatives, evaluating the status of decision-makers, ranking of decision alternatives and selection of optimal decision alternative.

53-62

Authors: Monica-Daniela TESU (PASCULESCU)

This study investigates several challenges for public administration’s management with the intention of revealing some possible solutions in an attempt to improve the management of public administration. The main conclusion of this study is that improving public administration’s management is possible if it is based on a coherent strategy, which may take into account the economic, social, and environmental problems that need to be solved in the near future. The study was carried out using a wide range of sources from the national and international literature, as well as personal experiences related to the issues concerning the public administration. The findings of this study may be used for further research in the field of improving public administration’s management.

71-76

Authors: Madalina DOCIU, Anca DUNARINTU, Ana Maria CALIN

The global population is mostly concentrated in cities, created as areas that face many challenges such as economic, social or environmental ones. The impact of urban areas is felt not only in cities but also in other regions so well designed and well managed urban areas are premises for sustainable living and great opportunities for urban population.