CONTEMPORARY ECONOMY JOURNAL

5-14

Authors: Camelia MILEA, Cătălin DRĂGOI

In the article, the authors analyse the evolution of long-term private and public external debt in Romania in the period 2008-2022, as well as the evolution of related services, highlighting some of their characteristics, especially from the point of view of costs. The research shows that although medium and long-term public external debt increases almost continuously during the analysed period, while medium and long-term private external debt fluctuates, the costs are higher in the case of medium and long-term private external debt. Thus, the private external debt service in the medium and long term is higher than the public external debt service in the medium and long term, a situation generated by better loan conditions in the case of public external debt. The authors also show that the medium and long-term external public debt, respectively the related service, has deeper annual fluctuations compared to the medium and long-term external private debt. The methodology used combines the empirical analysis of statistical data and their interpretation, with the identification of causalities.

21-27

Authors: Maria-Elena GHEORDUNESCU

Car liability insurance is the most well-known type of insurance in Romania. The role of liability insurance is to allow people injured in an accident to be compensated without having to wait for compensation from the liable party or, in the worst case, until the discovery of the liable party itself. The civil liability insurance mainly covers damages resulted from an accident caused by the insured liable party, for which, according to the legislation in force, the liable party owes due compensation to the injured parties. Considering this, all legal entities and private individuals who own a motor vehicle registered on the territory of Romania, have the obligation to take out a car liability insurance, for cases of damages caused by vehicle accidents. The paper aims to present the situation of car liability insurance in the context of the insurance market in post-pandemic Romania. Based on the quantitative method, but also the qualitative one, the present paper is an exploratory research, aiming to highlightsome relevant information from the insurance field.

33-45

Authors: Henry K. FASUA

The study examines the relationship between audit quality and firm financial performance. The study focuses on two financial performance measures, namely return on assets (ROA) and earnings per share (EPS). It employed Auto Regressive Distributed Lag (ARDL) and Dynamic Ordinary Least Square (DOLS) techniques for analysis of data. The research utilizes secondary time series data covering the period from 1981 to 2021. In Model 1, which explores the effect of audit quality on return on assets, the findings reveal both short-run and long-run effects between audit quality and ROA. The study indicates that audit independence has a positive but insignificant impact on ROA. On the other hand, auditor tenure has a negative effect on ROA, though it is also statistically insignificant. Audit firm size demonstrates a statistically significant negative effect on ROA. In Model 2, which examines the effect of audit quality on earnings per share, the results show that audit independence has a negative but insignificant impact on EPS. Surprisingly, auditor tenure has a positive effect on EPS. However, this effect is statistically insignificant. Similar to Model 1, audit firm size has a statistically significant positive effect on EPS. In summary, the study reveals a significant short-run and long-run effect of audit quality on return on assets (ROA) in Nigeria. However, audit quality does not have a lasting impact on earnings per share (EPS) over the long term. These findings suggest that companies with higher audit quality experience improved profitability (ROA) in the short and long term, while EPS is not significantly affected by audit quality in the long run.

54-64

Authors: Eveyn OHIDOA-TOUWA

The study investigates the occurrence of accrual anomaly globally with specific attention on other countries factors beyond the informatory aspect of stocks price prediction, that account for accrual anomaly worldwide. The conceptual approach methodology was adopted; materials were sourced online and journals of accounting and finance researches from where the findings of most previous related studies were reviewed. We observed that, accrual anomaly is not only associated with the United States and countries that share common characteristics with United States, but with code law countries; country legal system, changes in accounting regimes, influenced accrual anomaly occurrence globally; also, we observed some methodological deficiencies in accrual anomaly measurement in prior studies and a limitation of Sloan coexistence hypothesis of accrual and cash flow anomalies. Hence, we recommend that; first, a pre and post study of International Financial Reporting Standard (IFRS) on accrual anomaly is necessary in order to establish the effect of changes in accounting regimes on accrual anomaly in Nigeria. Second, a validation of Mishkin-test commonly accrual anomaly test and Sloan 1996 coexistence of accrual and cash flow anomalies. Finally, a future study that will include profit and loss firms as sample is encouraged.

76-82

Authors: Ionel LEONIDA, Cosmin - Octavian CEPOI

The severe deterioration of public finances during the COVID-19 pandemic and its consequences brought aspects of a fiscal-budgetary nature into the debates, fiscal policy, through its instruments, being considered the main anchor through which the government can stimulate or inhibit the economy in a moment of crisis, but also afterwards. The proposed work is part of this direction of continuing the debates and analyses, aiming exploratory at the possibility of identifying some vulnerabilities or emphasizing some existing ones from the previous period, based on an analysis framework that aims at three important aspects: the evolution of the budget deficit; the evolution of public debt and their positioning in relation to economic dynamics. The result can be a source of information, of possible development and refinement, to the extent that it will signal the existence of significant fiscal-budgetary vulnerabilities in the short and medium term at the level of Romania.