Bulletin of Taras Shevchenko National University of Kyiv. Economics.

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Authors: R. Orăştean, PhD in Есonomiscs, Associate Professor Lucian Blaga University of Sibiu, Sibiu, Romania

In the context of globalization, global financial crisis reflected the evolution of the relation global finance – global economy. The paper focuses on two issues. First, we review a part of the literature regarding the costs and benefits of financial globalization and the links between financial globalization, global imbalances and crises. Second, we discuss whether the financial globalization associated with global imbalances contributed to the 2008 global financial crisis. We conclude that global imbalances (GDP, current account, capital flows and international reserves) played a key role in determining the incidence and propagation of the global financial crisis both in advanced and developing economies. But they are still not resolved and so the risk to power a new global crisis remains high. Therefore economic and financial globalization has to redefine the links between international finance and global economy nowadays.

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Authors: A.-C. Budac, PhD, Associate Professor "Lucian Blaga" University, Sibiu, Romania

Most consumers spend an important part of their free time looking for online information about the brands before taking a decision to purchase. The Internet is the main factor which has led to a considerable increase of the time allotted by consumers for search and comparing information about brands, as a step preceding the decision to purchase and also one of the most important factors that influence the interaction between the brand and the consumer. Although the general trend is that the public to become more active and more involved in the choice of the brand, consumer's responses to its messages obviously depend on cultural, social or economic factors. The work has the purpose to clarify what brand community means and how it appeared – if it was really built from scratch or it has already existed in a latent way and it must only be recognized – the characteristics of successful communities, which of the objectives of the brands can be achieved by means of these groups, what is the role of social media in the development of these communities, what kind of types of members are likely to be encountered inside of the online communities and what is their proportion for each and which are the research methodologies that can give support to companies in monitoring these groups.

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Authors: E. Dascălu, PhD, Professor Spiru Haret University, Bucharest, Romania, L. Nasta, PhD Student Bucharest University of Economic Studies, Bucharest, Romania

This article approaches the general issue of diminishing the evidence investigation space in audit activities, by means of sampling techniques, given that in the instance of a significant data volume an exhaustive examination of the assessed population is not possible and/or effective. The general perspective of the presentation involves dealing with sampling risk, in essence, the risk that a selected sample may not be representative for the overall population, in correlation with the audit risk model and with the component parts of this model (inherent risk, control risk and non detection risk) and highlights the inter-conditionings between these two models.

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Authors: O. Chernyak, Doctor of Sciences (Economics), Professor, B. Yakymchuk, economist Taras Shevchenko National University of Kyiv, Kyiv, Ukraine

The paper considers and presents synthesis of theoretical models of balance of payment crisis and investigates the most effective ways to model the crisis in Ukraine. For mathematical formalization of balance of payment crisis, comparative analysis of the effectiveness of different calculation methods of Exchange Market Pressure Index was performed. A set of indicators that signal the growing likelihood of balance of payments crisis was defined using signal approach. With the help of minimization function thresholds indicators were selected, the crossing of which signalize increase in the probability of balance of payment crisis.