Annals of Spiru Haret University. Economic Series

10

Authors: Elitsa PETROVA

This article gives a brief overview of a study conducted on motivation for learning as an important element of social and economic sciences in the context of the sphere of security and defence. The research is an important scientific work of the author and was developed in the 2012-2018 period. At present, its results have been approved, considered appropriate and acceptable and are applied at the National Military University in Bulgaria.

12

Authors: Marius SURUGIU, Raluca MAZILESCU

Tax compliance is important for governments, for the proper functioning of the tax authority, having an impact on the level of the budget revenue. In this paper, the influence of trust (in) and power of the authorities on tax compliance is analysed, using data for Romania during 2007-2017 period. The extent to which trust (in) and power of the authorities may influence the tax compliance continues to attract the attention of scholars and the results of the paper may represent a starting point for various measures needed to support the voluntary tax compliance. The results suggested that “trust” variable has a statistically significant impact on tax compliance, in the case of Romania. Another goal of this paper is to underline the importance of checking the hypotheses for a regression model, because any violation may lead to inaccurate results.

20

Authors: Oladipo Niyi OLANIYAN, Olubunmi Omotayo EFUNTADE, Olatunbosun Ayo FALANA, Cecilia Dada TAIWO

This study examined the impact of external debt in stimulating economic growth in Nigeria: mediating on the role of public sector financial management. Secondary data was explored using ex post facto. The variables employed involves Gross Domestic Product (GDP) as endogenous variable while Debt to GDP Ratio (DGR), Foreign Debt to Exports Ratio (FDER), Inflation Ratio (INFR), Interest Service Ratio (ISR) and Exchange Ratio (EXR) as exogenous variables and were obtained from World Bank International Debt Statistic and Central Bank of Nigeria Statistical Bulletin for the period of 1989-2019. Diagnostic tests were conducted using Auto Regressive Distributed Lag (ARDL), Augmented Dick Fuller (ADF) Unit Root Test, and Co-Integration model. The result revealed the presence of co-integration among the variables with clear indication that external debt has a significant and positive relationship with economic growth with strong emphasis on public sector financial management as mediating factor. It was concluded that Nigeria debt crisis was attributed to both exogenous and endogenous factors due to dwindling economy. The study recommends that government should develop home-grown policies to enhance the country’s competitive advantage in the global market. Government should exit from all forms of commercial debts that expose the country to another regime of debt overkill.

36

Authors: Shiraz AYADI, Houda BEN SAID

The purpose of this empirical study is to explore and compare the effects of subprime crisis on some of developed markets (e.g. France, Germany, the United Kingdom and Japan). The VECM model and Johansen’s cointegration approach (1988) have been used to verify the existence of potential short and long run relationships between the United States market, where the subprime crisis has been triggered, and the other markets. The results indicated that all the markets are cointegrated in the long run and there is long run equilibrium. Dynamic interactions between the developed markets and the US increased during the subprime crisis. Our results shed light on financial contagion as the element that dramatically spreads the shock to the whole financial system as well as other financial markets.This contagion is a top priority for investors, financial regulators and international organizations whose goal is to improve the global financial regulation system and make it more resistant to shocks.

18

Authors: Marinel Cornelius DINU, Nicolae GOGA, Ana Maria NEAGU, Robert ANCUCEANU

Studies performed in various countries, including Romania, have shown that a number of factors are negatively impacting the health of the population at the workplace and in the household. The connection between health and work has been researched for a number of years as an important driver towards wellbeing. Several studies have been conducted in order to identify problems and to find solutions to harmonize the balance between wealth and health. Increased globalization, the chase for competitive advantage and the reduction of costs (especially labour costs) moved employers’ attention from the wellbeing of employees to higher profits. We discuss about such situations mainly in the East European Countries since the labour force is cheaper than in Western Europe. We should not forget that this current trend started in the US and was adopted also by European companies in order to increase profits. In West Europe, there are quite a number of studies regarding the relation between work and health, while in East Europe the number of such studies is quite small. The present paper proposes as an objective the study of several working factors and the relationship to health in Romania. Some of the results in our study reveal the concordance between the propensity of individuals to sacrifice from their one time and time for work without significant discrepancies between genders. Also, the more people invest in their time to rest, the more they are able to work hard without injuries. When it comes to gender characteristics, we determined slight changes in behaviour with almost the same labour pattern for both participants. Another interesting finding was that rural and urban areas are clearly determining the type of stress exposure for participants with a higher impact for workers coming from the urban area. Physical exercise and labour can be channelled in good order according to the gender capabilities.

26

Authors: R.N. WEERASINGHE1, S.A.S.S. PERERA2

The main aim of this research is to identify the factors that are affecting the success of Chinese small businesses, which are currently operating in Sri Lanka. This study followed the ‘Investigation research model’ with the two main research aspects, ‘success of the Chinese small businesses in Sri Lanka’ and ‘affecting factors for the success’ as the conceptual model of the research, and authors used the qualitative research approach by collecting data through in depth interviews conducted with the Chinese entrepreneurs who are currently operating their businesses in Sri Lanka and the BOI officers who supporting to promote FDIs in Sri Lanka. For the data collection purpose, researchers used the snowball sampling technique and the unstructured, open-ended questionnaire. Thus, this research followed ‘case study method’ and ‘conversationbased content analysis’ to analyze the collected data. Finally, the affecting factors were identified under these four main dimensions viz.: statutory and legal requirements, market related factors, financial related factors and strategy of investments. Moreover, this study concluded that the success of the businesses can be assessed by using the seven success factors under four key dimensions such as operational performance, market performance, wealth of the business and growth of the business. The findings of the study will be useful for the investors mainly from China and also other foreign investors who are planning to invest in Sri Lanka. Further, policy makers need to consider study findings for future initiatives in crafting policies in business development, trade and investment.

18

Authors: Tajudeen Adejare ADEGBITE

This study examined the impact of non-oil taxation inflow on economic growth in selected West African countries using World Bank panel data from 1999 to 2018. Ten (10) West African countries were purposefully selected from 1999 to 2018. Specifically, five Francophone and five Anglophone countries were selected for this study. Panel data analysis was employed to articulate the effect of independent variables (company income tax, value added tax, education tax, and custom and excise duties) inflow on dependent variable (economic growth (GDP)). The results showed that corporate income tax, value added tax, education tax and custom and excise duties had positive significant effect on economic growth of West African countries. In conclusion, non-oil taxation inflow impacted economic growth significantly and positively in selected West African countries. This predicated that money realized as taxation income has been utilized effectively, productively and efficiently on economic enhancement in terms of employment creation, roads construction, income distribution, provision of infrastructural facilities and economic stability. This study postulated that West African countries should lay mush emphasis on the collection of non-oil taxation effectively, especially VAT and CIT, and expend much of this revenue prudently for the augmentation and enrichment of the populace.

20

Authors: Haradhan Kumar MOHAJAN

The novel (new) coronavirus (CoV) fatal disease (COVID-19) is an infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-COV-2 or 2019-nCoV). It has been identified as the causative agent of the viral pneumonia outbreak in Wuhan, China, at the end of 2019. It is now becoming a major concern for global public health, as well as the cause of a possible global economic crisis. The International Monetary Fund (IMF) estimates that the outbreak of COVID-19 has cost the world economy up to $ 9 trillion. After COVID-19 outbreak, home quarantines, lockdown, widespread restrictions on labour mobility and travel, border closings and closing of economic activities has affected the global supply chains, oil prices, travel and tourism, restaurants, conferences, sporting events, government budget, etc. The amount of the global economic damage is very uncertain at present, but it is estimated that it will be larger depending on the length of COVID-19. The paper discusses the social, economic, and health impacts on the world’s poorest countries. The purpose of this study is to examine the economic impacts due to COVID-19 pandemic outbreak. An attempt has been made here to discuss the current economic situation of the world and analyses the potential consequences on global economy in future.

24

Authors: Ugo Chuks OKOLIE

The changing demographic composition of the workforce, the overall effects of globalization and the increasing social sensitivity to ethical concerns are compelling multinational organizations to deal with diversity management. However, organizations worldwide, in their attempt at diversity management, have faced challenges as stereotypes are deeply rooted in one’s culture and there is resistance to change. The key to diversity management hinges on strategic thinking and people centred policies. It is against this backdrop that this paper examines the effects of diversity management on human resource management with special reference to recruitment and selection. In this paper, we explore the interface between diversity management and human resource management and how this impinges on recruitment and selection when HR managers fails to acknowledge cultural and individual differences in the workplace, focus attention on individual differences rather than group differences; we develop a conceptual framework of HR diversity management, linking HR diversity strategies with major HR diversity issues; we also, examine the state of HR diversity practices that have been adopted in organizations worldwide and finally we discuss the gaps in the literature and the implications of our findings for practitioners and researchers.

10

Authors: Adrian UNGUREANU, Anca UNGUREANU

Micro, small, and medium-sized enterprises (SMEs) account for 99% of EU businesses. They provide two-thirds of private sector jobs and contribute more than half of the total added value created by EU businesses. SMEs play an important role for economic and European growth, producing 60% of the European GDP. In addition, SMEs play a major role in the innovation process and thus constitute an important element for a knowledge-based economy. At European and national level, various action programs have been adopted to support SMEs, with the aim of increasing the competitiveness of SMEs through research and innovation and improving their access to finance.

15

Authors: Lăcrămioara-Rodica HURLOIU, Bianca-Florentina RUSU, Ion-Iulian HURLOIU, Odi-Mihaela ZĂRNESCU

The research and development field provides driving forces of economic growth. EU economy, including the national economies under the impact of scientific research and inventions results, turn into a multi-structural system. The intellectual development of the society is the most powerful productive force.

25

Authors: Ugo Chuks OKOLIE

Human resource planning has traditionally been used by organizations to ensure that they have the right number and the right kinds of people, performing tasks at the right places and at the right time all in a bid to fulfil corporate objectives. The efficiency and effectiveness of organizations depend, to a great extent, on effective human resource planning. Effective human resource planning is a process of analyzing an organization’s human resources needs under changing conditions and developing the activities necessary to satisfy these needs. Corporate plan focuses on how the organization can be better positioned and equipped to compete effectively in the market, while human resource planning, contributes to the business by providing the means (people) to accomplish specified goals. To achieve these goals, the human resource planning is seen as one of the most crucial factors, without which the goals are as good as dead. This study provides conceptual clarifications and examines the imperative of integrating human resource planning with corporate/business plan. The study concludes that an organization can derive competitive advantage from the development of corporate plan that blends with the human resource plan and that human resource planning is intrinsically linked to business/corporate plan. Lastly, the study recommended that human resource planning should be a priority in every organization, since it has impact on organizational performance and employee’s productivity.