CONTEMPORARY ECONOMY JOURNAL

6-11

Authors: Florin-Constantin DIMA

Accounting can be regarded as the universal economic language of the business world since it is a tool that allows the communication of economic information. Accounting has the role of providing useful information for underlying decisions at the level of economic entities. The accounting information is based on the activity specific to each economic entity. The accounting information is obtained by processing the economic-financial data of the entities using the means specific to the accounting system. Accounting is the most appropriate source of information for the management of economic entities due to the particularities and qualitative characteristics of the information they provide, in relation to any other source of information.

19-28

Authors: Mihai-Cristian TRANDAFIR

Concept with different meanings, depending on the domain in which it is involved, sustainability is represented in the literature as a synergy between society, economy and the environment. The paper addresses the concept of sustainability from a wider perspective of the living logical system whose evolutionary tendency is to preserve the qualitative identity, but not punctually, rigidly, but maintaining its in a "sustainability tunnel", within which it may suffer alterations of punctual identity, but not of "tunnel" identity. In order to clarify the concept of a living logical system, the work presents a logical construction of the system, the poietic system, the self-poietic system, and defines the concept of a auto-poietical societal entity based onthe predicates of sufficiency.

38-42

Authors: Mihail Alin STANCIU

The rise of the economy has been accompanied by the evolution of the information society and the knowledge society, playing an important role within them. The starting point of this paper is the desire to determine the factors that favor the increase of the quality of the accounting information in order to identify the features of a successful information system at entity level. Quality accounting information should play a key role in efforts to create performance and increase market value at the micro and macroeconomic levels. Studies were carried out regarding the impact of the quality of the accounting information on the performance of an entity with the emphasis placed on the sequence of the performance evaluation at the entity level. The present paper aims to answer some questions regarding the measurement and the role of the quality of the accounting information at entity level. By linking the quality of accounting information, performance and competitiveness, a conceptual framework can be constructed to analyze the different dimensions of information quality in the economic-financial field. The analysis of the modalities of developing the competitive advantage of the entities can be done from the point of view of information quality. A competitive advantage of the entities is based on their ability to accumulate, exploit, combine innovate the set of information from the level of economic-financial analysis and financial reporting.

50-54

Authors: Ioana Antoaneta PONEA (RADU), Maria Georgiana PONEA

The organization is represented by human resources. The responsibility of leading the organization rests with the roleof the manager. The efficiency of the leadership role translates into the organization's ability to achieve its goals. How does the manager succeed todetermine a favorable framework for achieving the goals, how can he or she determine the human resource to put their shoulder, to concentrate all the available resources in achieving the objectives set by the institution he or she manages? These are goals to which any leader of the organization tends, since an evaluation of the managerial performances is strictly related to the fulfillment of the objectives that the organization has set itself. We can met a phorically look at the organization made up of a certain number of employees, without counting this number, as well as a gear made up of a certain number of wheels equivalent to the employees. Each wheel being a separate component, as psychologically individualistic as each employee, but in perfect harmony with the other wheels. Each person psychologically becomes a separate entity.

67-71

Authors: Patricia Amalia MERCEA (HANDRO)

Globalization and short-term capital inflow volatilities generate challenges for policies and countries, as well as forglobal and regional markets. An appropriate exchange rate policy tool, complemented by reserve accumulation, macroprudential measures and, when needed, capital control is some of the instruments that could produce effective safety nets and macro stability. A conclusion of our research is that flexible regimes are preferred by developed countries, with credible institutions that rely on deep capital markets. Emerging economies with unreliable institutions prefer stability as the fixed rate gives credibility and the macroeconomic stability can be achieved without best macro conditions.

79-83

Authors: Dorina LUŢĂ

The article below is my intention of addressing some important issues regarding the role of accountancy as the main provider of economic information to business entities, and taxation as a system designed to collect taxes, fees and contributions through a specialized body. Business entities operate in an accounting system connected to or disconnected from taxation which can influence managers’ decisions. The accounting policy is elaborated and assumed by an entity’s management based on accounting principles. When determining an accounting policy, although the choice of one method or another is generated by the “need for truth,” the entity’s management interests as an object of accounting reflection and taxation cannot be avoided either.

94-103

Authors: Oyefemi Olympus OWORU, Jayeola OLABISI, Olagunju ADEBAYO, Efetobore OKORODUDU

The study investigated the effect of earnings management practices on the financial performance of listed consumer goods firms in Nigeria. The study adopted ex-post-facto design to collect data for the study on the events already in existence. The purposive sampling technique was employed to select 10 firms out of 21 listed firms contingent on the availability of data. The study generated secondary data, over a period of eleven years 2008-2018, from the audited financial reports of sampled firms. The data were analyzed using descriptive and inferential statistics coupled with multiple regressions. In the model, Return on Asset (ROA) was used to measure financial performance while Earnings per Share (EPS), Operating Cash Flow (OCF), and Firm Size (FSIZE) were surrogates for earnings management. The study showed a significant and positive influence of EPS on ROA (p-value <0.05); also, a significant and negative effect of FSIZE on ROA (p-value < 0.05). However, there was an insignificant and a positive influence of OCF on ROA (p-value < 0.05). The study suggested a significant contribution of earnings management to the performance of consumer goods firms in Nigeria. Hence, it is recommended that auditors should ensure a transparent and audit quality to protect investors’ interests. In addition, investors should exercise restraints in placing much reliance on earnings per share and firm size while making vital investment decisions.

113-119

Authors: Ioan-Emanoil CĂLIN

The dynamic capabilities are considered to be the expression of high organizational agility, regardless of the size and purpose of the organization. The theoretical approaches regarding the dynamic capabilities tend to associate them with the ambidextrous organization characterized by an optimal ratio between the exploration and exploitation activities. The dynamic capability is defined by three key elements: learning capacity, integration and coordination capacity and the ability to generate feasible solutions in relation to some optimal criteria. The entrepreneurship is based on innovation, risk-taking and optimal use of the resources available within a lucrative activity. The entrepreneur's appetite for innovation and risk‑taking is a specific feature of the exploration activity while the optimal use of resources in a lucrative sense is the expression of the exploitation activity. The purpose of this article is to bring to the fore that the entrepreneurial initiative and its materialization imply the creation and operation by the entrepreneur of one or more dynamic capabilities.

127-132

Authors: Mihail LUPAȘCU

The sustainable regional development is an imperative assumed by the Republic of Moldova in front of the European Union for equitable distribution of development opportunities throughout the country. In Republic of Moldova, the role of small towns in the context of regional development is discussed in several strategic documents, in the regional development policy, priority is given to small towns, which ensure social, economic and territorial cohesion with the rural areas higher, compared with the middle cities. The achievement of this goal is supported by development projects, with an increased impact on rural communities as well. This article will research the country's policy framework and development strategies to identify, separately, cities that can become poles of economic growth and cities as urban development poles for balanced regional development rather than development peripherals proposed so far in the Republic of Moldova.

139-151

Authors: Diana Elena TOMA (NASTASIA), Silviu Constantin NASTASIA

A key component of efforts to support the economic environment in order to identify solutions to counteract the effects of a potential economic recession is the intelligent specialization, an innovative strategy for economic transformation at regional and local level. The prospect of facing an economic downturn highlights a clear need to support entrepreneurial initiatives, namely a bold approach to increase the costs associated with investments in innovation and research as these are the basic elements that can stimulate a return to growth. In the process of entrepreneurial discovery start-up companies are obviously in the best position to identify new opportunities, respectively in developing solutions, by combining strengths, taking risks, looking for new ideas along the value chain, needed to identify and implement innovative solutions and thus to generate jobs and growth. This paper aims to study the role of smart specialization in identifying solutions that can be used to support the entrepreneurial initiative as a central role for the economic recovery. The present paper is of current interest as the chances of a worldwide economic crisis to occur are considerable and a high level of entrepreneurial development through intelligent specialization can lead to the reduction of its effects.

6-13

Authors: Emil DINGA

The economicbehaviour is modelled, logically and quantitatively, on the basis of theassumption of rationality, understood as the means-to-goal suitability,representative of this approach being the famous model of rationality homoœconomicus. Although this model has been adjusted, amended, and reformulated inorder to bring it closer to the real man, all these "improvements"have proven to be simple superficial changes, not producing a qualitative leapin shaping the pattern of economic behaviour. The paper aims to start not froman economic perspective on human action, but from a social/sociological one. Inthis context, the study introduces a series of axioms that focus not on theeconomic interest, but on the social one, proposing a new rationality model ofthe individual, respectively of the group, namely the homo socionomicusrationality model. Finally, the study performs a qualitative analysis ofproposed axioms demonstrating their consistency, coherence and completeness.

24-32

Authors: Galina SAVELIEVA, Svetlana ZAHAROV

The problem of population economic activity in the Republic of Moldova is actual in the conditions of population decline, population ageing and labour migration processes. The economic activity rate of work age population decreased by 2.1 percentage points (p.p.), and the employment rate, respectively, by 2.0 p.p., while the number of employed population decreased by 43.5 thousand people. At the same time, it should be noted that the share of employed population in economically active has practically not changed and amounts to 96%, that is, the average unemployment rate for this period varied between 4-5%. However, if we analyze the involvement of work age population in the regional aspect, then there are differences in these indicators, which is associated with the possibility of being employed, the existing socio-economic infrastructure, age-sex structure of population and other factors. Therefore, the evaluation of demo-socio-economic processes impact on labour market formation has of scientific and practical importance for determining the main strategic directions of stable long-term development of the country, which determines the actuality of topic. The purpose of research is to analyze the regional characteristics of labour market in conditions of changes in age-sex structure of labour market, the motives for the presence of non-working population that is not involved in labour market for any reason, including the youth of NEET, employment in urban-rural aspect, including the tendencies in labour market changes mun. Chisinau in regional aspect (mun. Chisinau, Center, South, North). Such methods as analysis, synthesis, induction, deduction, grouping, and a systematic approach will be used in the process of research. As a result of research, recommendations have been made to improve the efficiency of employment policies of work age population, which can be used by public officials, as well as students, doctoral students, and scientific researchers.

39-45

Authors: Laura PĂNOIU, Licuța PETRIA

The development of economic performance and the need to identify certain solutions to ensure greater efficiency make it necessary for employers to identify proper solutions to motivate their staff. One issue not to be neglected is ensuring fair and equal treatment in terms of working conditions. The present study aims at scanning the main European concerns in the field of occupational health and safety as well as qualitative and quantitative characteristics specific to Romania. The authors have used qualitative research in this study by capitalizing on studies in this field, and European and national legislations.

52-58

Authors: Marilena CONSTANTINESCU (PEICHEA), Alina BIDIREANU (NĂSTASE), Isabela Florina BARBU (MARINESCU), Roxana SURCEL (GEORGESCU)

The social and global context involves numerous structural and functional changes, and the task of education is unprecedented and difficult. The education is related to well-being and competitiveness. Countries that have invested over time in the education system are the ones who today, are gathering the fruits of development, being at the top of the human development index in the world. The present paper analyzes the influence of expectancy of schooling on the degree of well-being of the population. To show the relationship between the two variables, we use the simple regression method, to construct a linear model for the period 2010 and 2017. The independent variable is considered expected years of schooling and the dependent variable is Gross Domestic Product. The calculations resulting led to the conclusion that the variation of Gross Domestic Product is explained at a rate of 71% by the variation of expected years of schooling.

70-79

Authors: Gabriela PICIU

The purpose of the article is to identify and evaluate a circular economic model for economic agents within a sustainable development paradigm. Understanding the concept of circular economy, its different dimensions, and the difficulties economic agents experience in implementing specific activities can facilitate a major transformation of current production and consumption patterns that will have a significant impact on the economy, environment and society. Understanding these effects is important for decision-makers involved in future policy making in the field. Promoting the use of the concept of enterprise circular economy and policy-making requires an analysis of the potential opportunities and benefits that a circular economy approach could bring to businesses and economies.

87-95

Authors: Geanina Iulia BOȚOTEANU (RĂDĂCINĂ)

The transition to a low-carbon, resource-efficient economy implies multiple environmental benefits. Financial stability is threatened by the consequences of climate change that can lead to majoreconomic losses in case of droughts or floods, soil erosion. The financial system has an important role to play in tackling the impact of climate change by securing funding for green investment. The current level of investment is not enough to promote an environmentally sustainable economy and to combat climate change and depletion of resources. To achieve the objectives of the European Union, the Paris Agreement requires additional investment of € 180billion, so more private capital flows need to be directed towards sustainable investment. In this context, the objective of the research is to determine the level and trends of financing through green bonds of the capital requirement for transforming the European energy sector into a sector that uses renewable energy to produce energy.

102-110

Authors: Emil DINGA

Scientific research, but also the taxonomy of sciences, are confronted with relatively unclear concepts, going to terminological and even conceptual confusions about entities such as discipline/disciplinarity, multidisciplinarity or pluridisciplinarity, interdisciplinarity or transdisciplinarity. The paper aims to examine this conceptual family in a logical and semantic manner and suggests definitions and distinctions of content that avoid the ambiguity of the use of related terms and help construct arguments about the phenomenology of research and scientific knowledge. Finally, the study proposes a specific paradigm for moving from disciplinarity, through intermediary stages, to transdisciplinarity (the latter seen as a secondary disciplinarity).

121-128

Authors: Oluwasegun Abraham SOLAJA, Modupe OLADIMEJI

The study is based on questionnaire administered on employees of drink producing company in Nigeria. This study examines the impact of manpower development on organizational performance. The sample size for the study is made up of one hundred and eighty seven (187) respondents. Descriptive and inferential statistics method was used to present and analysed the data collected through questionnaire. In testing the formulated hypotheses for thisstudy both regression and correlation analysis was used. The research findings results indicated that there is a positive relationship between Manpower Development and Organizational Performance. The study suggests the need for continuous training and development of employees with focus on the competition, market dynamics, customer satisfaction, business and financial performance.

135-144

Authors: Camelia MILEA

After briefly presenting the legal framework for the exit of the United Kingdom of Great Britain and Northern Ireland from the European Union, in the article there are analysed in the trade relations between Romania and the United Kingdom. Thus, it stands out an increase in the exports and imports between these countries, as well as the fact that starting with 2013, the United Kingdom ranks first among the countries with surplus of the goods balance in favour of our country. There is a diversification and an improvement in the structure of exports toward the United Kingdom, namely the share of medium and highly processed goods increases. Romania's imports from the United Kingdom are dominated by medium and highly processed goods. Towards the end of the period under review, we can see a concentration of commodity groups imported from the United Kingdom. The author uses qualitative and quantitative assessments, interpretations, comparative analysis and correlations. The analysis is carried out for the period 1991-2017 and it concludes that it is in our country’s best interest to close a trade agreement between Romania and the United Kingdom if the Brexit takes place.

152-158

Authors: Leonid BABII

In this thesis, it is proposed an algorithm that can be definitely used, starting with the simplicity and efficiency of the examined case of agricultural foodstuff industry in the Republic of Moldova –by this is meant the necessity of reducing the export of the primary agricultural materials, and gaining new technologies in the processing industry.

166-173

Authors: Iuliana SCĂRLĂTESCU (TALMACIU)

During times of complex changes, a leader must be able to rely on a wide range of skills and attributes and be able to apply them at the right time and in the right way. The present paper aims to explain the importance of efficient management of the transformations that take place in an organization and the role played by the leaders in the effective implementation of changes within a company. The purpose of the study is to explore the role of leadership in organizational change and how leaders manage the change in organization. For the elaboration of this article were used secondary information drawn from books, articles, reports and studies related to leadership and organizational change. Research on the role of leaders in organizational change shows that leaders who attach importance to employee participation in making organizational decisions, who are charismatic, have a democratic approach and keep communication channels open, are more successful in implementing change management.

184-193

Authors: Camelia BĂLTĂREȚU

The global financial crisis of 2007-2008 has led to a rapid build-up of public debt in some euro area countries, highlighting the vulnerabilities of indebted economies - this accumulation being perceived as a problem for the European Union as a whole. In an environment of financial instability, the rapid rise in public debt and low economic growth have determined the increase of the concerns about the need fordebt sustainability assessment in many EU countries since the crisis. There has been a significant increase in government debt rates in the EU Member States, reaching in 2017 over 87% of GDP. In Romania, the public debt trend, over the period 2006-2017, the period under review, has been steadily rising, reaching​​in 2017 EUR 66647.10 million, compared to EUR 12585.6 million in 2007, indicating financing needs with an ascending trajectory and inevitably leading to increased interest rates. Reducing public debt is essential for restoring market confidence and generating room for maneuver for the state so that in the event of a future crisis, macroeconomic stabilization measures can be promoted.

6-12

Authors: Dorina LUȚĂ

International Financial Reporting Standards - IFRS aim at harmonizing accounting principles, procedures and treatments used for the preparation and presentation of annual financial statements in order to meet the information needs of all the social partners of an entity. In this article the authors intend to analyze some of the regulations included in a international accounting standard - IAS 2 “Stocks”,- in order to assess how this application influences the presentation of a financial status and the level and method for measuring the performance of entities.

25-33

Authors: Cristina GĂNESCU, Sebastian ENE

The present study establishes the relationship between the innovation performance of enterprises in the lagging-behind regions in Central and Eastern Europe and the regional potential for development of innovation clusters. It assesses performance in innovation at the level of lagging-behind regions in Central and Eastern Europe, based on the 2019 Regional Innovation Scoreboard. The development potential of innovation clusters shall be determined on the basis of the Cluster Stars indicator (European Cluster Observatory). The results of the study highlight a positive link between innovation performance and the development potential of innovation clusters. Regions with a greater number of innovation clusters, but also those that have a higher potential for developing these clusters, enjoy greater innovation performance. Innovative organisations that are part of these clusters stimulate all cluster members to develop their innovative practices and new products/services.

39-46

Authors: Alina - Georgeta AILINCĂ

On the automatic stabilization capabilities of the progressive tax regimes much has been written and argued. Equally, the flat tax rate has often been indicated as a promoter and stimulator of business, but also as a factor for the perpetuation and widening of social inequalities. Therefore, the article reproduces some of the themes of previous articles trying to discern between the qualities and defects of the two types of taxation regimes: progressive or single quota. The empirical analysis on the data gathered for the EU28 countries following the two tax regimes is interesting and surprising and deserves further reflection. This analysis supports the results shown in the literature on progressive tax regimes, but equally points to a number of key tax elements that use the flat tax rate, investigating whether or not it acts as a regressive tax by its effect on the Gini coefficient.

54-63

Authors: Violeta DRĂGOI, Oana-Mihaela ILIE

The price is an important element of the marketing mix that can not be fully controlled through the marketing function and an indication of value for both consumers and banking service providers. It has a leading role in ensuring the creditworthiness of the credit institution. Both directly and especially closely related to costs, the price determines the level and evolution of the supply of banking products and services. The paper aims to investigate the pricing strategies of the banking companies in order to highlight the role and importance of the price in the financial-banking marketing, to identify the factors influencing the formation of the price of financial-banking services, to analyze the main pricing strategies in the banking activity, in particular, to set out how to fix prices within Raiffeisen Bank.

69-73

Authors: Delia TESELIOS, Mihaela SAVU

The continuous and rapid evolution of information and communication technology has created the premises of the remote activity, thus replacing the classical way of working as an employee working in an office at the employer's headquarters. This paper aims to present a series of statistical data on the number of employees in the European Union who usually work from home using information and communication technology. Comparing the statistical data, Romania is at the end of the ranking, but this ranking is strongly influenced by the fact that this type of work has recently been regulated in our country. The quantitative analysis of the number of employees working at home is complemented by the advantages and disadvantages of this activity.

81-90

Authors: Ramona BIRĂU, Abdullah EJAZ, Daniel-Iulian DOAGA, Andrei-Cristian SPULBAR

The main aim of this research paper is to conduct a statistical survey on people at risk of poverty or social exclusion in the European Union. Poverty and social exclusion highlight multidimensional sociological aspects with significant implications for the level of economic growth and sustainable development, especially in the case of emerging countries. People at risk of poverty or social exclusion represent a vulnerable group of high risk but implementing sustainable public policies can be an effective solution in order in order to minimize or even to eradicate social inequalities. Moreover, the research article provides a comparative analysis of the concepts of relative poverty and absolute poverty based on a set of international standards. Legally, everyone has the right to an adequate standard of living and basic social protection. However, empirical results reveal significant differences between developed countries and developing countries in the European Union in terms of poverty or social exclusion.

103-108

Authors: Gabriela LAZAR (SOARE)

The current national context of the last 10 years has caused the Romanian education system to face a huge problem related to the number of graduates (of both types of secondary education). Adding to this context, the international one (in which, especially with the help of the Erasmus+ program) where more and more young people choose to leave Romania, the Romanian educational institutions must become more and more competitive and try to attract as many candidates as possible. This article aims to highlight the increasing role played by educational marketing, more precisely by the branding of educational institutions and its communication.

116-120

Authors: Elena Mihaela ILIE (ŞERB)

Despite the fact that the topic of sustainable development has been dealt with in many international norms and standards, there are very few papers in accounting research that deal with the interconnection between the accounting model and sustainable development, respectively the extent to which the accounting of economic entities reflects the requirements of sustainable development. In this article we have proposed to answer the following questions: "To what extent is labor productivity influenced by integrating the requirements of sustainable development?", "How could the degradation of human capital in an institution be stopped?”. In order to know the answers, I have undertaken a qualitative research on the members of the public forestry institution. Thus, we noticed the managerial team's desire for an increase in the satisfaction of our employees and we proposed an accounting model for integrating the requirements of sustainable development. At the local level, this integration can result in a competitive advantage of the institution on the local market, respectively in the improvement of the human development indicators.

126-130

Authors: Silvia Elena IACOB, Constantin Ciprian IACOB

Ethics is necessary for all, because of the threats to the nature and the future of humanity thanks to the technical progress and its often devastating potentials, if these potentials are not subjected, as possibilities of exercise, to this principle of responsibility. Therefore, sustainable development (SD) is called to manage well the strong tension that has developed rapidly between the two poles: that of moral demand, based on a return to the philosophy of morality, and that of stakeholders, which aims to extend the agency relationship to new interest groups such as local communities or even their administrations, through the partnership method. In this way they become partners and implicitly stakeholders who no longer act as a party to the conflict. They are united in their incompatibility and under these circumstances the stakeholder theory suffers from an acute lack of legitimacy in relation to the new requirements imposed by SD.

6-12

Authors: Marius GUST

Romanian banks' profits were not constant after the Romanian economy faced the financial crisis that started in 2008. Thus, if at the beginning of the analysed period - the last decade - the years with profitable financial exercises alternated with the years in which the Romanian banks recorded losses, followed by years (from the middle of the study period) with losses, and in recent years, profitability is the main feature of the management of Romanian banks. The main cause of the losses in the banking system was the risky operations made by the Romanian banks before the crisis and during the crisis and the diminishing of bank revenues after the crisis. Periods of loss and profitability have been a feature not only of banks but of the whole economy. Thus, when banks have had high profits, all enterprises have had high profits, and banks are in line with the general trend. Also, the banks' profits represent a relatively small value from the results obtained by all enterprises in Romania. Equally true is the fact that the increase in the profitability of the banks in recent years is also explained by the restructuring carried out by their management in the last years, especially at the level of the network of the counters, the staff and partly the operations with the clients.

21-26

Authors: Laura-Alexandra MORTURA

Accounting is a branch of the economy that is part of the social sciences. In this sense, it comes to support the society, aiming to offer the best services for the good development of society. Financial audit also is a part of this branch of social sciences, accompanying in various forms the field of accounting over time, with the initial aim of verifying the veracity of the work carried out by the persons involved in accounting, and then, in time, the purpose of the financial audit has changed, providing today to the participants in economic activities a high degree of confidence about the information provided by the financial statements. In the financial audit, auditors can carry out several types of missions, providing two types of insurance, either reasonable or limited, or even no type of insurance. In this case, a mission to review historical financial statements by an auditor may provide only limited assurance to users. The materiality calculated in this assignment provides a value through which it may reduce the risk that information in the financial statements will contain material misstatements.

35-41

Authors: Milena - Jana SCHANK

This paper examines the impact of the degree of concentration of the ownership on the firm’s financial performance for a sample of 2,000 Romanian companies, in a time frame that range from 2009 to 2017. The effects of concentrated ownership on firm’s performance is estimated using fixed effects model (FE), random effects model (RE) and a corrective model (PCSE) as methodology. The main results indicate the fact that between the financial performance, expressed by both indicators return on assets (ROA) and return on equity (ROE), and the variable which express the degree of ownership concentration is an inverse significant relationship. At the same time, other variables considered do not show significant differences in outcome: size, age, liquidity, leverage and tangibility negatively influence the financial performance of companies.

52-64

Authors: Mihail DIMITRIU

The choice of the subject of this communication was based on the following considerations: fiscal and budgetary policies currently in place in Romania are not fully in line with long-term strategic objectives (sustainable development strategy at national and European level!); the mechanism for substantiating, adopting and implementing fiscal and / or fiscal policy measures in Romania does not clearly include elements for identifying costs and risks (especially those related to non-implementation of the sustainable development strategy); there is no full consensus on the implementation of long-term fiscal and budgetary policies beyond the electoral cycle, with a long-term development strategy (sustainable). The purpose of the communication is to identify and present some methods of determining the costs related to the non-application of the objectives of the sustainable development strategy, in the case of fiscal-budgetary policies in Romania.

75-79

Authors: Manole DINU

The local public administration of the Republic of Moldova evolves with the political, economic, social changes, implementing new management principles, performing management technologies, thus ensuring the irreversibility of democratic processes in society. In this article we propose to present some reflections on the efficiency of the way of provision of services by the local public administration of the citizens and to identify the theoretical-methodological and applicative content of the process of continuous modernization of the local public administration in the Republic of Moldova in the context of European integrationist processes.

86-91

Authors: Florentina CIULEI (IONESCU), Angela MORLOVEA

This paper presents the role and importance of personal development of human resources in the context of organizational change in the pre-university education system. Personal development is essential to all actors involved in the educational act and causes changes from the individual level to the organizational level. The teacher has to cope with all the confrontations that take place in the process of change at the organizational and educational level, but also in the relationships with others as well as with oneself.

103-111

Authors: Gabriela PICIU

The article includes a brief overview of SME development in the EU, in the context of their sustainable development. Following the financial crisis of 2007-2008, SMEs in the EU-28 have contributed significantly to the recovery and further expansion of its economy. This contribution of SMEs to the European economy has exceeded expectations, the number of newly established SMEs has far outstripped the growth of already existing SMEs. New and expanded businesses have benefited from economic growth, especially for fast-growing businesses, based on innovative products and a growth strategy. In the years 2008-2018 it was intended to improve the entrepreneurship approach in Europe, to impose regulatory and SME policy and to remove remaining barriers to their development. Also, the article proposes solutions for improving the activity of SMEs by implementing the circular model and their transition from the linear economy to the circular economy.

120-128

Authors: Cristina UNGUR

The country’s ability to pass to a green economy model depends on the volume of resources, competence and the knowledge it holds. In adopting "green" development practices, it is important to study the possibilities and the limits of the implementation of green business models, which can be achieved by establishing and calculating the performance indicators of the green economy in the main sectors of the economy. This article presented the theoretical analysis of the "green" economy concept and analyzed the performance indicators of the "green" economy in education. The research approach was inductive using traditional methods: bibliographic research, systemic observation, statistical and comparative analysis. The study is focused on education data from the Republic of Moldova. Period for calculating the indicators included study years 2013-2018. The results showed that education indicators in the Republic of Moldova are decreasing. In conclusion, the development of human capital must be a real priority for the Republic of Moldova, as this is one of the main factors that can positively influence the long-term development of the country. For this, increased efforts are needed, especially at the regulatory level.

135-140

Authors: Gabriela LAZAR (SOARE)

Conflict is a three-dimensional psychosocial phenomenon that involves 3 components, one that refers to thinking, perception of a conflict situation, another one that refers to emotions and feelings and a behavioral component, one regarding actions and communication. Managing conflicts between students, teachers and parents has its importance in order to increase the quality of the secondary education system. Quality in education refers to a complex of principles and practices that crosses the entire educational environment, in all its components, oriented towards obtaining superior results, related to standards and meeting the needs and expectations of the primary beneficiaries of education. This article aims to establish the main principles and best practices regarding conflict management within the secondary education system.

148-157

Authors: Levnawi AYED

The trend era of globalization and networks is pushing individuals, organizations, societies and companies to survive fast changes of this trend and its' consequences. The main theme is the ability of passing and flowing this transformation trend that being less expensive and more productively efficient by meeting the global market requirements, via conducting self-changes based self-management and self-economic mobility whose match globalization spirit. There is a deep relationship between education and economics, namely there is no adopt that economy based-knowledge system of a globalized economy, and knowledge-based economy behavior and values are the major tool of easily jump on survival boat to flow with the transformation of the new-age of globalization. The aim of the research is to evaluate and analyze the SBM model as an integration model of economic-educational testing, by conducting a comparative examining of traditional schools (NSBM) and schools based management (SBM), via exploiting various methods of management analysis, comparative descriptive data of schools numeric outcomes; and comparative descriptive data of schools survey outcomes, according to school management type.

172-180

Authors: Izabela Diana HADA

In an economic environment in a constantly changing, performance is a priority, an assurance of some profitable economic results, a measure of profit, productivity, growth, value creation, and an indicator hardly touched. Economic entities benefit from the great opportunities to influence the outcome and, implicitly to shape their performance. These include the choice of the method of evaluating the stocks especially in putting their consumption because the entry in the inventory entity does not generate an expense which would have impact on the performance. In this sense, this article aims to analyze the implications of stock assessment methods to the entity upon performance. The research is based on the comparative analysis of the extent to which three methods of assessment of stocks respectively first in-first out, last in first out, weighted average cost may be used depending on the needs of modeling results. The research results show that the methods of stock assessment chosen by each company, governed by the law of national accounts have considerable influences upon the cost and outcome, concealing various possibilities of performance manipulation.

6-11

Authors: Silviu Constantin NASTASIA, Diana Elena TOMA (NASTASIA)

This paper aims to examine the factors that influence the quality of the accounting information developed within the companies in Romania. In our opinion, accounting information is developed under certain circumstances, not to reflect the reality of the enterprise's financial position but to provide the desired image for shareholders or management. Accounting is thus challenged because of its ability to alter the company's true representation. The study is based on the analysis of a representative sample of companies listed on the stockexchange and operating in Romania. The analysis of the data revealed a close connection between the role of the actors involved in the production of financial statements, the perception of the existence of an institutional framework for accounting regulation and the quality of the accounting information produced.

25-37

Authors: Lidija MADZAR

Contemporary countries are increasingly aware of the need to change the way of energy consumption. For this reason, concern about energy security, the social and economic effects of high-energy prices, and the increased awareness of the climate change effects led to improvements in energy efficiency worldwide. The household sector can significantly contribute to the key goals of energy and climate policy achievement. It can contribute to reducing the energy intensity of the economy and the country’s energy dependence, the green house gas emissions, as well as meeting the climate goals. The paper analyses the basic aggregate indicators of the final energy consumption efficiency in Serbian household sector. Serbia’s energy intensity is almost twice as high as the European average and it appears because of irrational energy consumption in households and industry and wide spread obsolete technologies. The paper follows the trend of Total and Relative residential final energy consumption, Residential final energyc onsumption per capita and the correlation between Gross Domestic Product per capita and Final energy consumption of Serbian household sector. Although energy efficiency in this sector is lower than in the EU countries, residential energy consumption is nevertheless declining slightly and it is not conditioned by the country’s economic development.

43-48

Authors: Olimpia NEAGU

The paper analyses the convergence of households connectivity to Internet across European Union countries according to the degree of urbanisation and predicts future evolutions based on possibile scenarios. In order to estimate the process of convergence, five families of models were used to approximate the values of standard deviation of households' connection rate to Internet. Among them the linear model seems to describe the process more accurately.

55-65

Authors: Victoria COCIUG, Olga HINEV

This research approached the defining aspects of an optimal monetary policy framework, able to achieve the objective proposed by the central bank. The ensuring a monetary policy appropriate to the country's economic, financial and legal potential is currently a concern for most central banks that recognize the benefits of optimal monetary policy promotion. The definition of optimal monetary policy was outlined in terms of factors, criteria and associated impacts. The practical aspect of the paper focused on the assessment of the monetary policy framework on the international arena as well as on the one promoted by the National Bank of Moldova. Following the researches carried out, it was concluded that in order to adjust monetary policy to an optimum, the central bank of a particular country should take into account a complex of economic conjuncture, institutional and operational framework. Referring to the best international practices of the central banks in the field of monetary policy, we come with recommendations for the optimization of the monetary policy in the Republic of Moldova.

74-77

Authors: Constanţa POPESCU, Georgiana –Tatiana BONDAC, Oana-Mihaela ILIE

At present, people daily make a compromise between being permanently connected or staying intimate. The more Internet services are used, the more difficult it is to keep confidential personal information. Thus, the digital world has become important, even giving us stress: too many passwords to remember or fear we may be the victims of some cyber attacks. So, we believe that each user needs a special protection that suits their digital lifestyle, because if we do not take protective measures, this lack of action can lead to stress.

86-92

Authors: Mihaela Maria MIHALCEA

The financial performance of an economic entity is its business card vis-à-vis its stakeholders, on the basis of which they make their investment, credit or other type of collaboration decisions. Information reflecting the financial performance is most often represented by the level of income and expense, the level of profit, the balance sheet asset and other intermediate and relative indicators deriving from them. The issue we are debating in this paper derives from the fact that the aforementioned figures are easily influenced by creative accounting techniques, and the financial performance assessed on the basis of this information is thus misleading. In this context, this paper aims to present the negative effects of creative accounting, to exemplify some creative accounting techniques, and how these practices impinge on performance indicators, as well as to suggest ways to protect stakeholders against accounting manipulations.

102-109

Authors: Alina Georgeta AILINCĂ

About economic convergence has been written a lot, especially about the nominal one. The nominal economic convergence criteria of the Maastricht Treaty as they are known and imposed on countries wishing to join the Eurozone are both controversial in the academic world, with voices calling for either their relaxation or completion, or at least for a better calibration of them. Without starting from redesigning, the article aims to analyse in its current form which is most effective: discretionary stabilization or the design of a mechanism rather automatic in reaching the thresholds imposed by the Maastricht criteria? The arguments formulated in this article and the results obtained can guide us towards the use of an automatic type of stabilization mechanism.

118-125

Authors: Violeta Elena DRĂGOI, Larisa Elena PREDA, Adelina Nicoleta NICOLESCU, Andreea Mihaela SIRBOIU

The fundamental objective of the monetary policy of the NBR is to ensure and maintain the price stability. To achieve this goal, the NBR has approached as a monetary policy strategy the direct targeting of inflation, which has had a great influence on the macroeconomic variables of Romania. The paper aims to investigate the macroeconomic forecasting models used by the NBR and to what extent the monetary instruments applied by the NBR are close to the targeting of inflation.

132-137

Authors: Cristina Aurora BUNEA-BONTAȘ

IAS 23 Borrowing Costs prescribes the accounting when borrowings are made to acquire or construct an asset. The core principle of the standard is that borrowing costs that are directly attributable to the acquisition or construction of a qualifying asset must be capitalised. Even though in theory this principle seems simple to apply, its practical implementation often raises questions for which IAS 23 doesn't give clear guidance. Challenges in applying this standard are related to specific issues such as identifying the qualifying assets, calculating the total borrowing costs eligible for capitalisation, when to start or to suspend capitalisation, borrowing costs in separate and consolidated financial statements. Some of these practical challenges are discussed in this article.