CONTEMPORARY ECONOMY JOURNAL

12-19

Authors: Gabriela-Mariana IONESCU

Economic product distribution inside society impliesnot only rationality calculus but also the analysis of some specific featuresof the social justice. The paperidentifies the relationships among the concepts of complexity, sustainability,and diversity in social justice. In the same context a certain ambiguitymaintained in the specialty terminology is clarified between the issue complicatedand the issue complex regarding thesystems and processes, by proposing a new signification for thecomplexity issue. Effects of synergy between sustainability and socialjustice are identified, and analysedboth from the view point of fundamental causes leading to social imbalances andin terms of achieving environmental objectives which can lead to significanteconomic and social outcomes in terms of welfare and environmental quality.Regarding the diversity concept, the paper proposes as criterion thedistinction between the commutative justice and the distributive justice thusseparating what it is merited from what is fair in the distribution of economicproduct. Finally, an institutional and behavioral mechanism of the triadcomplexity, sustainability, diversity is proposed and examined.

27-32

Authors: Grațiela-Denisa IORDACHE

The present paper aims to define the concepts ofinstitutional deficit and institutional excess. The clarification of theseconcepts will be useful in assessing the European Union excess or deficit ofinstitutions in achieving its major objectives. Firstly, I will define theconcepts of institutional deficit and institutional excess using the method ofsufficiency predicates (logical analysis). Secondly, I will analyse the impactof institutional excess and institutional deficit on achieving Union’s majorobjectives.

38-43

Authors: Bianca COSTACHE

This study isfocused on a highly relevant subject in the economic literature, more preciselyhow the insurance sector impacts the overall economic growth. The objective ofthe study is to identify, analyze and evaluate the effects of the insurancesector on economic growth for three countries: Germany, Netherlands and Spain,with data collected for the period 1984 - 2016. The results of the study provedto be important as they indicate the variation in the effects of insuranceinstruments due to the pecularity of each economy and the way in which eacheconomy responds to a positive impact from the insurance sector.

50-59

Authors: Gica CULIȚĂ

The world is constantly changed by new scientific and technicaldiscoveries, which benefit the developers of these technologies, the hoststates and, last but not least, the users. Of the many areas available, we havechosen the market of smartphones, more specifically the one of Samsung, a company which has constantlyevolved and has been able to competewith Apple. This development has not only affected the company, but it alsogenerated an increase in the formation of GDP in South Korea and, as a result, it impacted the country's economic development.

73-82

Authors: Alina SUSLENCO

The conceptual aspects were analysed in the presentpaper, as well as the methodological aspects of the role and importance of thetourist guide in the discovery of the tourist destinations. In this context, wehave to mention that representative aspects that outline the role of thetourist guide, as well as the evolution of tourist guides in the Republic ofMoldova, were investigated in the work. For these reasons, there have been reviewedissues related to the evolution of tourist guides in Moldova, the legislationregulating the work of tourist guides in Moldova, as well as the importance ofqualified guides for the development of the tourism sector. The methodologyused in this paper focused on the following methods: analysis, synthesis,induction, deduction, comparative analysis. In conclusion, we must mention thattourist guides are the vectors of tourism development within tourist regions,in discovering the beauties of tourist destinations.

93-103

Authors: Silvia-Elena ISACHI

The Common Consolidated Corporate Tax Base for the companies aims to harmonize the taxation base for the companies within the European Union, which will re-launch the single market and support the accomplishment of the Europe 2020 Strategy. An important objective of the Common Consolidated Corporate Tax Base is to increase the correctness ofthe fiscal system by approaching some cause of tax avoidance by the multinational companies. The added value of the Common Consolidated Corporate Tax Base consists in a higher mobility of capitals within the European Union by decreasing the costs of ensuring the conformity and the cross-border fiscal obstacles. The Common Consolidated Corporate Tax Base will make the European Union more attractive for investments and business, because the investors are no longer required to analyse the dispositions of several fiscal systems when investing in the European Union, which will decrease the compliance costs and the administrative costs as well. At the same time, the Common Consolidated Corporate Tax Base improves the transparency about the real situation of levying the companies from the member states and establishes a more fair fiscal competition within the EU, which increases EU competitiveness worldwide.

114-124

Authors: Otilia MANTA

The international economic, financial, social, cultural, informational flows of history have gradually led to the disappearance of trade barriers, or rather to the harmonization of trade policies and the erosion of national borders, creating the road to the homogenization of the globalized integrated space where identity and sovereignty the national acquire other meanings and interpretations. The definition of globalization has been presented as internationalization, liberalization, universalization and globalisation. Conceptual globalism ont hese lines did not provide analytical added value and was not visible by any means (Scholte, 2002). Bhagwati (2004) provided a definition of globalization based on the economic dimension of globalization, which included the integration of the global economy through trade, FDI, portfolio capital movements and the bank. There are definitions that go beyond economic, financial and economic boundaries, technological (Glotech) (Manta O., 2017), know-how, and extend to other areas of human activity and cover extensive interconnection networks. Interaction between spatially connected networks can usually take place through the flow of goods and services, finance, information, ideas and people. These may be environment-related. These networks can also be extended to include these networks at local, regional, national and global level. Distance, a continuous variable, counts most in the spatial context. In addition, to be spatially qualified as global, the network of relationships must be multi-country and multi-continental. Simple at national and regional level, links and interdependencies cannot be considered as part of the process of globalization.

129-138

Authors: Ionel LEONIDA

The fiscal governance process aims at synchronizing the consolidation of fiscal positions and supporting the medium and long-term structural reforms of the adhering member countries through monitoring, evaluation and incidence of fiscal processes on the economic environment at each stage of its design, ex-ante implementation / execution and ex-post results, thus having the potential to identify slippages from the objectives and their adjustment during the current fiscal exercise or in the next fiscal exercise. To achieve its goal, this process is based on rules, regulations and procedures that provide the framework for national government planning, implementation and guidance of fiscal policy. In the present paper,we deal with the theoretical fiscal governance from the theoretical point of view, the legislative evolution and the effectiveness of this process, through the successive reforms it has undergone.

148-157

Authors: Iurie BEȘLIU

The practice of developed countries demonstrates that value has a number of unique properties that make it the best decision-making criteria for crisis management and, in abroader sense, the best criterion for assessing the success of enterprise management in general. The global economic crisis, the fragility of enterprise value in the current economic context, and the ongoing diversification of value creation sources served as a basis for researching the mechanism of diagnosing the enterprise value crisis. The mechanism is based on the internal factors of the enterprise environment, i.e. the financial factors, and is detached from the macroeconomic environment in which the enterprise operates. According to the author, the diagnosis of the crisis situation aims to establish the moment when the company starts to lose its value, which is a premature signal of the enterprise's crisis. Therefore, the diagnosis of the enterprise's crisis-entry process is carried out in two ways, which are based on enterprise valuation methods and the economic profit indicator. In the research, the author studies the particularities of the value crisis management according to the stage of life cycle. For crisis management, the author examines the enterprise based on three financial dimensions: liquidity, risk and value, and determines the vectors of decisional efforts at different stages of the life cycle.

167-175

Authors: Olga TIMOFEI

Ensuring financial stability has always been a natural concern and lately has become a priority for central banks, which are at the forefront of national financial systems. Central banks contribute to financial stability because they are responsible for ensuring price stability and on the other hand, a stable financial environment facilitates the realization of price stability. The monitoring of the financial stability of the state cannot be conceived without monitoring the evolution of monetary indicators, their fluctuations being related to the overall balance of financial flows in the economy, largely reflecting the situation on financial markets, foreignexchange markets, state budget and external balance of payments. The growth rate of money supply affects most of the macroeconomic indicators, such as output, employment, prices and interest rates. The aim of this article is to present and evaluate the evolution of the monetary indicators in the Republic of Moldova in order to analyse the evolution of the financial stability of the state.

185-189

Authors: Rebeca Ioana BOSTAN, Cristina Mihaela TOMA

The theory of constraints dates back over 30 years, and its applicability within companies has the role of improving their level of production and efficiency. This article discusses how managers use constrained theory to continuously manage and improve company development goals. The theory of constraints is based on the level of trust provided by high-quality services as a key element used to create the competitive edge for the entity's evolution. According to the theory of constraints, the entity's leadership has the role of improving the performance of production so that the role of production management is to maintain flow and continually improve it.

198-203

Authors: Ioana Cãtãlina GHIȚĂ

We live in a society of speed in which time, or better said its lack has become one of the most important sources of stress. Deadlines, communication „on the run”, increasingly busy agendas (coupled with a lack of manager’s will to change them) require a new approach. The support elements that come from a growing science, „Time management”, are great in reducing stress and preparing the body to the action of exogenous factors. Time management helps us to have some control over life, both in professional and personal life. It is essential to focus on results, so we can identify what activities contribute to our efficiency and what are the activities that waste our time and distract us from the proposed goals.

209-213

Authors: Boris GITOLENDIA

This paper presents the results of research about the Case Analysis of the Georgian Railway Transport Sector Interoperability and Intermodality with the European Systems, Herein are listed challenges and problematic issues of compatibility of Georgian railway and it’s infrastructure and technical parameters to the EU standards and also some directives and regulations required for Georgian Railway Transport Sector in the context of“the EU – Georgia Association Agreement”. Also, article is giving a brief information about the “intermodal transportation” and the general importance of the role of rail transport in it. In author’s opinion, the development of Georgian railway into a railway with real European standards, in the context of Intermodality will have influence to rise of the cargo volume, which directly is connected to the economic development of the Country. Specific literature has been processed, description, synthesis and comparative analysis methods has been used for this research. The article is prepared on the bases of the Young Scientist Grant of the Shota Rustaveli National Science Foundation (NYS-2016-41).

223-233

Authors: Maria OLEINIUC

Following the successive events that have taken place in the global arena in terms of economic growth and its consequences, there has been a need to assess the consequences of all the changes that have taken place. The indicators of sustainable development and food security indicators help us to assess the current state of world development. Through the indicators of sustainable development, we can clearly identify the situation with regard to the three development approaches: economic approach, ecological approach and social approach.

239-246

Authors: Nicolae GRĂDINARU

The referendum designates the procedure by which all citizens with the right to vote are called upon to give their own judgment (the participants have to answer a specific question by choosing one of the answers that accompany the question) on a real (not personal), deliberative (the result of the vote having immediate legal effects) or in an advisory capacity (the result of voting being only an element of appreciation for the governors for the adoption or not of certain decisions / measures). The term and the legal institution of the referendum have their origins in Roman law, where the reference word designates the procedure by which the electoral body (made up of citizens with the right to vote) was consulted directly on a precise topic, in order to confer legitimacy on a decision. At present, the referendum is considered to be, by excellence, an instrument of direct democracy through which voters express their opinion and make a decision (usually normative) directly. The referendum is not an alternative to parliamentary democracy, and its abusive use can lead to the mitigation of the legitimacy and role of parliament as a representative body of the people.

12-18

Authors: Gabriela-Mariana IONESCU

According to the almost general concept, a science has the sole purpose of constructing explanations (understood as objective causal descriptions). But this applies only to the natural sciences, because in the social field there are also subjective causes (called goals or final causes) that are generated by free will, so they are unpredictable. Consequently, the factual falsification required by Popper is not possible. The paper aims to examine this impossibility in a conceptual, methodological and instrumental way in order to identify an alternative that would save the testability in the social field. The „social object" used for this analysis is the phenomenon of social justice. In order to elucidate the proposed subject, social justice will be researched both from an institutional, formal and cultural perspective, which implies taking into account the axiological matrix of society.

30-39

Authors: Laura MARCU

Our paper aim to present waste management situation regarding electrical and electronic equipment (WEEE) in Romania in relation to the situation in European Union and with the legislation. First we will review the Romanian law in the light of European legislation that sets European goals and measures to achieve them. Then Romania's situation is presented in comparison with other European countries regarding the quantity of WEEE collected, the mains categories of DEEE collected, the DEEE treatment as well as the evolution of collection rate. We highlight causes of delay that characterize Romania's situation in terms of WEEE management and difficulties currently facing Romania in this field.

48-53

Authors: Hanna SASINOVICH

This paper presents the results of research concerning waste management system as one of the strategic goals of sustainable development. Waste can be both a resource and an environmental problem. Our strategic goal is to make waste a resource. Nowadays we have global trend to reduce, re-use, rework, recycle, recover, so-called 'waste' products. One company's waste or even one person's waste can now become another company's (person's) valuable raw material. And it has an economic impact. Also, with changing technologies, availability and cost of origin input materials, the demand for, or need to use recovered wastes is changing too. In order to promote sustainability with regard to waste management, appropriate waste solutions must be put in place. However, perspective on the area of waste is required to attain sustainable waste management. Various measures that reduce the volumes of waste streams according to the hierarchy for different methods of treatment are required. Recycled raw materials saves energy compared with the use of new raw material. Each opportunity we have to reduce our impacts on the planet is a step forward towards the implementation of sustainable development. And we can defy improving waste management as one of the main goals for sustainable development.

59-73

Authors: Carmen IORDACHE, Iuliana CEBUC

The development of the tourism in Romania depends mainly on the proper use of the potential of the rural areas, on the development and on rural economy revitalisation and on the adoption of a coherent regional policy. The exploitation of natural resurses to maintain the employments are extremely important,in order to meet the economic ,environmental and social aspects of rural areas. This paper aims to emphasize some theoretical aspects of rural tourism, the methodology of estimating the rural tourism recovery degree, a presentation of the poetential elements of the rural tourism recovery degree, causing them based on the estimated degree of the recovery of the rural tourism from Vâlcea-Romania. The degree of recovery of the touristic potential must stay at the concept of a sustainable development of economy which needs a multidisciplinary approach.

80-89

Authors: Marian ZAROSCHI

Accounting has arisen as man began to engage in economic activities both individually and economically to measure and record the activity performed as a social requirement. At the beginning of the 20th century, accounting began to be considered science by some specialists and management techniques by others. At the same time, the generally accepted accounting principles were developed and the auditors used the wording that the accounting statements represent the true image of the company's financial position and the results of its operations in accordance with the accounting statement represented by the generally accepted accounting principles. Accounting is considered both a social and an applied science, determined by the economic, financial, political, legal, social and cultural environment. Accounting is currently recognized as a field of scientific knowledge, which is based on methodologies, principles, and rules, which should lead to the development of a theoretical support for economic decision making in the economic environment. By admitting accounting as a science we must also accept that this science is based on three types of research: fundamental accounting research, applied accounting research, fundamental normative research. Accounting standardization is a social necessity required to present as accurately and as close to the truth as possible the information resulting from accounting and which are mainly represented by the financial statements. Normalization should meet the information needs of the following groups of users: internal users and external users. In accepting Romanian specialists in the field of accounting, normalization is a process through which the synthesis documents, the conceptual framework, the accounting methods and the terms ensure maximum generalization and harmonization. Normalization provides for the definition of postulates, principles and accounting rules. Based on the analysis, we tried to redefine accounting. approached the financial audit in correlation with accounting and historical milestones. I presented the justification of the need for audit based on three theories accepted by specialists: insurance theory, agency theory and motivational theory, theories interfering with accounting. We have determined that the financial audit is a tool that complements accounting.

100-107

Authors: Delia TESELIOS, Mihaela SAVU

The transition from Internet access, mainly from desktop / laptop to Internet access via mobile devices, is one of the factors behind the increase in the number of Internet users and, implicitly, the increase in the number of Social Media users. As a result, companies are increasingly attributing their presence to the Internet by creating websites that offer more functionalities and using Social Media platforms. Starting from these premises, the paper aims to present an analysis of how companies use Social Media to increase their competitiveness. The results of this analysis present the benefits brought to companies by using Social Media platforms.

120-123

Authors: Camelia VECHIU, Gianina NEGRĂU

The sustainable development of new technologies having considerateadvantages, such as fast, simple andmovable communication and socialization, puts an increasing amount of pressureon the banking system to adapt to its customers’ needs, but also to respond tothe competition created by non-financial payments or loans providers. Byintroducing instant payments, we will be to perform and benefit from RONtransfer operations in a matter of seconds, simply by using the personal bankaccount. These instant payments will certainly improve the e-commerce and willhelp companies or institutions simplifying their operations and moving towardsdigital means. This result was already proved by countries such as Denmark and United Kingdom, which are alreadyusing this type of payments.

134-138

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

The use of new information and communication technologies (NICT) as a working tool has a particular impact on modern organizations. Although technology itself is "neutral", it can also generate negative consequences for NICT users who may suffer the so-called "techno-stress." The concept and hence the extent of this phenomenon have varied over time. In this sense, the objective of this study is twofold. First of all, we propose to analyze the phenomenon of "techno-stress" (or the psychosocial stress associated with the use of new technologies), which are the main changes in the workforce associated with the use of new technologies that affect the psychosocial health of employees which organizational and individual factors modulate these relationships. Secondly, we intend to explore the main strategies for preventing and minimizing techno-stress in order to ensure professional performance.

149-154

Authors: Kinga (LÁZÁR) KÁDÁR

The purpose of quantitive marketing research is to determine the attitudes and opinions of tourists who visit the Centre region regarding its touristic atractiveness and to identify the possibilities of attracting as many tourists as possible for a longer period of time. The touristic experience is the totality of the elements in wich the tourist participated and came in contact with natural and anthropogenic resources, access, hospitality, technical and material basis, services.

169-178

Authors: Aurelia ŢEPORDEI

Tax amnesty is an officialexceptional proposal of central state administration for contributors to paytheir outstanding payments at both state and local levels in exchange forcancellation of penalties to be applied in case of irregularities. Itsnecessity can be presented in three ways. The first is to eliminate confusionabout legislation imperfections, its treatment and resulting consequences. Thesecond is related to collection of budgetary means. The third is authorities'hope to discipline taxpayers and bring their work to legal area. Being appliedin Republic of Moldova in the past, contradictory views on its application inthe future are presented now. In this context are presented problems, which canbe grouped in two directions: the lack of clear presentations of real resultsof previous tax amnesty and examining real interests of governors in new taxamnesty organizing. The purpose of research was to establish essence of fiscalamnesty, forms of its application and its effects. For this purpose, thecountry's experience, in which fiscal amnesty was carried out, was studied.Finally, some conclusions were drawn on effectiveness of fiscal amnesty as aspecific method of public finance management that will be reflected in thisarticle.

185-191

Authors: Nicolae GRĂDINARU

According to art. 2, paragraph 1, letter b) of the Law no.554 / 2004,public authority - any state body or administrative-territorial units acting ina public power regime for the fulfillment of a public legitimate interest; areconsidered to be public authorities within the meaning of the present lawprivate legal entities which, according to the law, have acquired publicutility status or are authorized to provide a public service under a publicpower regime. According to Article 2, paragraph 30 of the Law no.500 / 2002,public institutions - a generic name that includes the Parliament, thePresidential Administration, the ministries, the other specialized bodies ofthe public administration, other public authorities, the autonomous publicinstitutions, as well as the subordinated institutions / their coordination,financed from the budgets stipulated in art. 1 par. (2). The notion of"public authority", as defined by art. 2 par. (1) lit. b) of the Lawof administrative contentious no. 554/2004, is not similar to the "publicinstitution", as provided by art. 2 par. (1) point 39 of the Law no.273/2006 on local finances.

198-212

Authors: Marius GUST

Nearly a decade after the appearance ofcryptocurrencies, they have grown, both in number and in market, being areality of our day, and in the last year the media has constantly written aboutthem. Yet they continue to be a mystery. Normal, on the one hand, because notall of us are computer scientists, many are just computer users, but few arethe ones who are good at cryptography. Unfortunately, so too few of thefounders and users of cryptocurrencies are good at the economy. Maybe that'swhy they exaggerate when they call their crypto "coins" creations.These creations are not and probably will not be coin for a long time.Cryptocurrency there is something that few are good at, but many want it,because it brings them some wealth. Cryptocurrency and their evolution in thepast year have enriched their founders and, being unregulated, we should countthe days until we are impoverished. Cryptocurrencies have emerged and developedas a result of a sense of frustration among many who believe that people in theleadership of states and authorities live on their backs, banks steal them,states discriminate against them, judges and lawyers are not right. It is theworld of the Internet, the world where people are free and have no bosses andno laws. Cryptocurrencies also mean many personal pride, but also the right toopinion and a social democracy. Or maybe anarchy. How could we justify morethan 1500 such assets in less than 10 years.

223-229

Authors: Leonid BABII

Knowledge management categorically differs from themanagement of an economic activity. Knowledge management is an unprecedentedactivity in time and space. However different the knowledge is, they need to beembedded in a system, need to be upgraded, expanded. For anyone knowledge is asocial "support"; for companies, firms knowledge of staff is therating, their ability to overcome difficult situations.

14-26

Authors: Svetlana GOROBIEVSCHI, Aliona DODU

The development of entrepreneurship in the economies of different countries is the driving force of the economic competitiveness, wich ensure the innovation on the market of the product and service. In the literature there are different opinions about the role of business incubators in countries with a transition economy. This is confirmed by current economic development practice in European Union member countries. Using comparative management, the authors of this article have formed the theoretical concept on the role of incubators in society, and through mathematical instruments prove that in the contemporary economy they become important forms of entrepreneurial support at early stages of the business, being recognized as „ABC”in entrepreneurial skills training. Authors explain the special role of business incubators in creating conditions to explore the intellects of the unemployed, who were forced to invent workplaces in order to generate a multitude of the business ideas that favored their opening towards various approaches, perspectives, visions and which eventually helped them become entrepreneurs.

37-42

Authors: Mădălina ALBU

The competitiveness of any economic activity is related to the development and implementation of effective strategies that maximize stakeholder profits. Strategies define the company's long-term direction and ensure the management of resources to achieve the objectives. Also, knowledge of the direction and steps to follow can lead to an essential reduction in the risks of operationalization of the company's strategies. Each factor is subjected to a specific analysis process to identify the characteristics and issues underlying the development of the economic strategy. This analysis is a managerial tool to examine the organization to identify the problems it encounters and to find solutions to solve it. On the basis of the theoretical aspects presented in the paper, a case study was carried out at Electrica Furnizare. Customer focus, service quality, constructive dialogue with customers, willingness to develop and innovate are aspects that Electrica Supply offers besides supplying electricity and perhaps supplying natural gas. On the basis of the analysis carried out, proposals and recommendations may be formulated to generate the sustainable development of the organization.

48-52

Authors: Constanţa POPESCU, Gulay KAKILLIOGLU

The preparation and modernisation of the human resources management policy in order to meet patients’ needs and to improve the career progress of health professionals in terms of quality and cost play a central role in the hospital reform strategy. Today it is necessary to make the transition from the human resources function based on the administrative management where quality is widely acknowledged, to the strategic approach focused on the acknowledgment and valorization of the human capital which is undoubtedly the factor that contributes to the creation of undisputable value in hospitals. This article is intended as a reflection on the primary milestones for development and repositioning of human resources – the key stake in hospital reform.

58-64

Authors: Kinga (LÁZÁR) KÁDÁR

Tourism is one of the economic branches that has expanded fast over the last.decades. The motivation of tourists are very different: some tourists seek rest and relaxation, other adventure, some tourists prefer nature, while other tourists want to discover new places or are interested in historical, cultural objectives or cultural manifestations. Health rehabilitation also counts, among the frequently encountered tourist motivations. There is a quite well-structured segmentation of the tourism market according to the characteristics of tourists such as age, family situation, educational attainment, level of income.

73-79

Authors: Cristina Aurora BUNEA-BONTAȘ

Revenue is an important indicator to users of financial statements in assessing an entity’s financial performance. In May 2014, the International Accounting Standards Board issued IFRS 15 Revenue from Contracts with Customers which supersedes IAS 18 Revenue and IAS 11 Construction contracts. It applies to all businesses reporting under IFRS for periods beginning on or after 1 January 2018. IFRS 15 specifies the requirements an entity must apply to measure and recognise revenue and the related cash flows. This article considers the application of IFRS 15 and the impact it has on determining the transaction price, especially in case of variable consideration.

84-90

Authors: Sorin-George TOMA, Cătălin GRĂDINARU

The hospitality industry represents not only one of the most diverse and dynamic economic activity, but also one of the largest and fastest growing industry worldwide. It includes hotels, restaurants and resorts, and constitutes one of the major employers in the world. As one of the most visible sector within the hospitality industry, the luxury hotel industry has attracted more and more customers and investors in the past decades. The marketing mix being a key element of the wider marketing strategy of a company occupies a prominent place in the luxury hotel industry. This paper proposes to identify and analyze the components of the marketing mix in this industry by using the example of Ritz-Carlton Hotel Company, an American luxury hotel chain. The methodological approach is based on a case study.

96-101

Authors: Isabela GIORGI

This article proposes to emphasize the role of the human element in the sustainable development of the society. The man is behind all things! Thanks to his creative capacities we mention today all the most advanced technologies, more and more sophisticated products, the most surprising scientific and technical development, all designed to make easer our work and life as a whole. Between sustainable development and education there is a strong, interdependent and particularly complex connection. Education should be the one which provides the premises for the development of a competitive, sustainable, efficient society and able to offer to its descendants principles, values and resources of the inheritance of the nation. In the age of modern, advanced technologies when the companies are increasingly concerned about finding the most effective and practical solutions to deliver goods and services which ensure their profitability in highly competitive market, creativity becomes a defining element, a target of the current working environment. Because this is a strictly human characteristic, MAN becomes the central element of any economic activity, which provides the company`s survival and prosperity. The man becomes the "locomotive" of sustainable development, being the brain of the process of innovation and also the one who must assume the responsibility for a cleaner, healthier environment to live.

107-117

Authors: Yasin YILDIRIM

The Maastricht Treaty, officially known as the Treaty on European Union, is one of the major elements of the great economic, political and legal integration movement in Europe. With this Treaty; the European Union was established, concept of European citizenship was generated, a common foreign and security policy was formed, a closer co-operation in police services and judiciary in criminal / legal matters was agreed, eventually the Economic and Monetary Union and the single European currency “the Euro” was created. With the creation of the Euro and the Monetary Union, economic, political, commercial and social characteristics of the Eurozone member countries, Europe-based global companies and lives of approximately 500 million Europeans were radically changed. Even, some of changes and effects of the Euro seem negative, harmful or disruptive from a perspective ; the merits and advantages of it clearly outweighs those disadvantages and drawbacks, particularly, by considering its impacts on inflation, levels of public debts, interest and exchange rates, global prestige and position in international markets, persuasive power upon other countries and the role for implementing the idea of the great integration of Europe. Overall, at the 20th anniversary of the adoption of it, evaluating the Euro as a story of success despite of its all drawbacks and disadvantages will be a rational and righteous statement.

15-23

Authors: Moses A. ERHI, David UMORU

This study is an econometric exploration of the impact of differential trade preferences on the Economic Society of West African Countries with focus on the Cotonou Agreement period of 2001 to 2013. The aim was to empirically evaluate using panel least squares regression method the degree to which the preferential trade agreement between EU and ECOWAS has affected intra-ECOWAS integration. Given a significant interactive effect, we accept the supposition that EU exceptional trade agreements with ECOWAS countries have not significantly enhanced intra-ECOWAS trade. Accordingly, the study found that the adverse effect of ECOWAS openness to the EU on ECOWAS intra-trade is instituted on intermittent differentials of favored treatments to different ECOWAS member countries. There is need for the consistency of the special treatment of ECOWAS by the EU.

38-45

Authors: Tatiana GUTIUM

This article focuses on the development of indicators to assess the comparative advantages of the product. Using synthetic indicator developed by the author, there was calculated the competitiveness of domestic goods on the internal market and the results are used for development of proposals to increase competitiveness. In addition, the article analyzes the dynamics of the digital economy development in the Republic of Moldova and correlation between competitiveness and digital economy. At the end of this article, the author has shown the impact of competitiveness and the digital economy on the sustainable development of the national economy.

55-58

Authors: Jennifer DE BONDY, Sophie DUMAS, Doina MUREȘANU

The case presents the situation of a mining company in the northern part of the province of Quebec, Canada, which, like most companies operating in this sector, should at some point in their operation seek funding to continue their activities. The Polaire mine has some seniority in nickel mining, but these activities can not be developed without the initiation of partnerships with other mines acting as investors. Thus, an interesting offer of purchase was made at the Polar mine by the Arctic mine. The latter comes with money, but with a lot of questions from employees. They are going through a period of transition after the merger, which does not seem very well managed by the company: the leaders are not informed about the evolution of the partnership, and do not inform their subordinates in turn. They have concerns for which they do not find answers, which makes them unmotivated and even likely to change jobs. The case address to the management students, who are asked to describe the experiences of participants and to propose solutions to the company in order to facilitate the process of change and increase employee motivation.

79-87

Authors: Nicoleta Valentina FLOREA, Anișoara DUICĂ

Today, marketing specialists consider that we are in an era of relational marketing. In this new era, where the environment is influenced by globalization, overcapacity of production and the latest by personalized products/ services, the focus is not on increasing production, but increasing profit by improving the relationship with profitable customers. Customers are of all kinds, they all want to get value and solutions to their problems; that is, these people are oriented towards achieving rational goals. In this context, in the present study we shall focus on improving the relationship with customers by reducing the number of customer complaints using simulation and marketing modelling: the Pareto diagram. This diagram is used to control the quality of the services and products offered, and the purpose of our research is to focus on implementing this chart to determine the problems that have arisen and to develop a plan to help reducing problems and finding viable solutions for obtaining reciprocal relationships and long-term benefits.

96-104

Authors: Gabriela PICIU

Green certificates remain a sensitive issue both for Romanian authorities, but especially among producers of renewable energy that thought they would benefit from the authorities' support for a long time. Thanks to a particularly generous support scheme (the most generous in Europe), there is a danger of producing a phenomenon similar to that produced in the real estate sector in 2006-2008 by creating an investment bubble in the field of unconventional energies. The renewable investment bubble would be choppy following the reduction in the number of green certificates, a government measure. Since the legislative measures to be taken on green certificates are not yet clear, there is a possibility that their number may fall or their volume drops from 55 euros. At present, the producers of renewable energy pay the profit tax only when the CV is traded, which will lead to the decrease of the cases of insolvency and bankruptcy among the renewable energy producers.

112-120

Authors: Mădălina ALBU

The analysis of the economic and financial activity is a very important and very complex component of the process of substantiating and realizing the strategy of an organization, because with it, it gets a complete picture of the activity, which leads to the identification of strengths, weaknesses and of the causes of their occurrence. The economic-financial diagnosis offers managers the opportunity to make both qualitative and quantitative analyzes of the current situation of the company they lead, but also of its prospects. The aim of the need to know the economic situation of a trading company is to give an overview of its activity in order to formulate measures of efficiency by using research means used by the economic and financial analysis. This paper attempts to implement a theoretical aspects in a case study conducted at the Oltina Impex Prod Com Company. The analysis of the financial field of the company shows that it managed to manage intelligently the financial resources it had in the analyzed period, registering profit every year. As a result of the SWOT analysis at the organization level, proposals for development of the activity could be formulated to help managers to take timely decisions.

127-137

Authors: Alexandru GRIBINCEA, Ana ȚIBULEAC, Petru COBAN

The global volume of transactions in terms of investment in 2015 decreased compared to the previous year by 3% reaching 689 billion USD. At the same time, the transaction volume in 2015 increased by 5% reaching 748 billion USD. Thus, the decline of the dollar investment indicator in regions is a result of the strengthening US currency. In turn, the US real estate market showed the highest result in 2015 - reaching 294 billion USD meaning an increase of 9% compared to 2014. It is expected that the volume of real estate investments on the global level in 2016 will increase to 720-730 billion USD. Taking in consideration the slowdown of world economy during last years the investors continue to look for options to diversify their risks and to invest in different sectors. Limiting new offers on the real estate market by increasing the capital oriented to the acquisition of assets, could encourage investors to focus on lesser-known markets and to consider different investment objects, such as student hostels and nursing homes for the elderly. If considering the FDI the interest of foreign investor, therefore, their involvement could be seen in the long run, the fact that excludes the possibility of carrying out speculative activities as in case of foreign portfolio investments.

142-151

Authors: Tatiana PETROVA, Corina GRIBINCEA

The external economic sector is a concentrated reflection of all macroeconomic balances that exist in the economy. The purpose of the work is to identify the existing and potential threats to the external economic subsystem of the national economy, the mechanism of their impact on the state of the banking system, the foreign exchange market and to assess the level of their impact on the financial stability of the Republic of Moldova. The main factors of the instability of the external economic sector that generate the threats of the emergence of a crisis situation are considered: the openness of the economy, the deterioration of external trade conditions, the slowdown in economic growth, the current account deficit of the balance of payments, the high external debt against GDP, the sharp rise in price / cheaper national currency and budget deficit. In this context, it is necessary to assess the threats of the financial stability of the Republic of Moldova in order to develop measures to prevent them.

166-171

Authors: Oksana KOSHULKO

This paper presents the results of research concerning the personal remittances of Ukrainian and Moldavian labour migrants from abroad during the period 2000-2016, using data from the World Bank. The paper also compares the personal remittances sent to Ukraine and Moldova with the total Gross Domestic Product of Ukraine and Moldova, and the role and function of personal remittances of Ukrainian and Moldavian labour migrants for public and private finance in their countries of origin. The following stages of research were used: analysis of benefits for the socio-economic development of Ukraine and Moldova gained from personal remittances of Ukrainian and Moldavian labour migrants abroad; drawing conclusions about the importance of remittances both for the families of Ukrainian and Moldavian labour migrants and for the states, as well as the general socio-economic development of the countries and its public and private finance in particular.