CONTEMPORARY ECONOMY JOURNAL

14-21

Authors: Florin-Constantin DIMA

The development of this article started from the need to suitably determine the result of the exercise of the economic entities in our country. The result of the exercise is one of the most important indicators when analyzing an entity that carries out economic activities. In our country, taxation prevails over accounting and, for this reason, it is very important to be able to make a correct interpretation of the result of the activity. In the following we will follow the way in which the expenses and incomes are grouped from the fiscal point of view and how they are taken into account when determining the fiscal result. We will also analyze, in addition to expenses and income, the other elements taken into account in determining the tax result such as: items similar to income, items similar to expenses, tax deductions, and tax loss. For a more complete analysis, we will also treat the deductions from the profit tax due.

32-38

Authors: Olga TIMOFEI

From the perspective of increasing the world's population, the pressures on the environment and most natural resources that serve as raw materials (fuels, minerals and metals), food, sun, water and biomass are increasing. Given that natural resources are indispensable for the functioning of the economy and contribute significantly to the quality of our lives, it would be appropriate to reduce our consumption of materials from the design stage of products. In this context, the circular economy, which aims in particular at a goal of zero waste and the rehabilitation of all problems, is a solution. The development of this type of economy is already a clear political will in several countries. It is also possible to make the least use of non-renewable resources by opting for the use of renewable resources, depending on their renewal rate and the disposal of waste through recycling, repair and reuse. In this paper we aim to present the limits of the linear economy and the concept of circular economy, in the context of the situation of the circular economy in the world.

56-60

Authors: Isabela STANCEA

The decentralization regime is based on the legal recognition of local authorities organized in administrative units at the territorial level. These communities are provided with their own material and financial means that they can use to solve local problems. Decentralization appears to be the opposite of centralization, a regime in which local problems are solved by authorities freely chosen by the electorate. The status of local authorities derives from the law. They cannot make changes, but must be subject to any changes made by the state. The component collectivities are not associated with the exercise of central power, they have autonomy only of an administrative nature. The state controls the legality of the actions of local authorities and not their membership.

67-76

Authors: Georgiana - Janina SOARE

Implementation and development of the relationship internal managerial control - internal audit is not only a legislative issue, but rather a problem of changing the mentality that aims over time and change the organizational culture. For these reasons, the implementation and development of the internal managerial control system in correlation with the internal audit has produced and will produce a series of fundamental changes in the organization and functioning of public interest entities, which contribute to: increasing managerial responsibilities; understanding the philosophy of risk management; inherent risk management and awareness of the introduction of specific internal management control techniques and tools.

83-91

Authors: Victoria IORDACHI, Pavel CALPAJIU

The economic security of the state is constantly affected by the phenomenon of the unobserved economy. The international community has developed international conventions and standards to combat the unobserved economy and the movement of illicit financial flows. However, insufficient law enforcement, inadequate compliance and high-risk countries can both have detrimental consequences, affecting the effectiveness of the whole prevention framework. The public institutions involved in reducing this phenomenon correlate its decisions with the economic-financial information accumulated, stored and managed in accordance with its statutory purposes. This requires the authorities to assess the role of the quality of information managed in its decision-making process. The purpose of the article is to identify the role of information quality accumulated by public institutions in the process of reducing the unobserved economy in the Republic of Moldova. As a result of the research, some gaps were found in the process of organizing the information management activity and some recommendations were developed.

99-107

Authors: Andra MODREANU

Social entrepreneurship may lead to sustainable economic growth through establishing the wellbeing of the society. Derived from the traditional entrepreneurship, social entrepreneurship is described as a responsible way of doing business. The concept involves the use of all available resources, capitalized in an economic entity with the aim of facilitating the production of a beneficial change in the society by solving pressuring social problems. Thus, social entrepreneurship marks the transition from the fundamental goal of increasing profits to that of community welfare and sustainable development of the economy. The paper aims to present a conceptual framework that can be used to define social entrepreneurship. The research methodology was based on the collection and analysis of secondary data, respectively scientific articles, and relevant books for the subject. The results of the study show that the interest for the social entrepreneurship concept has increased significantly in the past decades among researchers. Also, they outline the idea of ​​what social entrepreneurship is and how it is implemented.

116-121

Authors: Loredana Maria PĂUNESCU

Considering that the proposed model is based on the knowledge of external stimuli, which can be key factors in the design of a message and which can thus influence the consumers' decision regarding the choice of a product, determining the sociological variables that can contribute to the modification in favorable sense of the buying behavior of consumers was conducted an exploratory research at the level of consumers of consumer products in Prahova County.

133-137

Authors: Nicoleta PAVEL

IFRS 16 “Leases” is the result of the joint effort of the International Accounting Standards Board (IASB) by the US National Standards Standardizer, the Financial Accounting Standards Board (FASB), to improve financial reporting on leasing activities. The two accounting standards normators found that the reported information on operating leases was not transparent and the existence of different accounting models for operational and financial leases reduced comparability for users of financial statements. In addition, the different accounting of financial leasing from operational leasing ‘provides opportunities to structure transactions to obtain a certain accounting result’ (Basis for conclusions in IFRS 16, BC 3). In these circumstances, IAS 17 ‘Leasing’ has been replaced by IFRS 16 ‘Leases’ and applies from financial year 2019. IFRS 16 “Leases” makes significant changes to the accounting for the lessee's leases and the information to be disclosed in the notes to the financial statements. To facilitate its understanding and application, IFRS 16 “Leases” is accompanied by application guidance and illustrative examples. The Ministry of Finance also created the legal framework for the uniform application of the standard by introducing specific accounting accounts in the General Accounts Plan annex to the Accounting Regulations în accordance with International Financial Reporting Standards, approved by Order of the Minister of Public Finance no. 2844/2016, with subsequent amendments and completions. Leasing accounting has been and remains a sensitive area in which professional accountants must exercise their professional judgment in order to assure users of information that the presentation of the items in the Statement of Financial Position / Balance Sheet and the profit and loss account has been made taking into account the fund economic nature of the transaction or commitment in question and not only the legal form of the lease. In the following, we intend to highlight how the application of the provisions of IFRS 16 “Leases” affects the Statement of Financial Position and the profit and loss account for entities that have the quality of lessee in a leasing contract.

146-152

Authors: Elena TEODORESCU (MĂNESCU)

The study on the perception of quality at the level of pre-university lower secondary education institutions highlights the importance of establishing the essential elements in improving quality management in school organizations. The quantitative research was conducted on a sample of 100 teachers from secondary school units, both in rural and urban areas, in Dâmbovița County. The research combined both the face-to-face interview technique and the internet survey, using the questionnaire as a research tool. The obtained results highlight the aspects related to the present initiatives and the acquisitions previously acquired by the school organizations in the field of quality management, to obtain performance, through the vision of the teaching staff.

166-178

Authors: Laura-Filofteia PĂNOIU, Sorin Daniel MANOLE

Countries’ economic growth cannot be achieved without investment. A country can make investment in accordance with the level of public financial resources and also with the prioritization of social needs which means that, during certain periods of time, there are not enough funds, and other resources are resorted to. Thus, foreign direct investment is a way of generating development as it is an important feature of the world economy as a result of globalization. In the current pandemic context which has affected all sectors ranging from education to agriculture, from health to industry, from culture to services, it was certain that the level of foreign direct investment would also be affected. The current study, which is based on the critical analysis of specialist literature and reports of specialist institutions, aims at identifying the impact of the health crisis on foreign direct investment both worldwide and in Romania.

13-25

Authors: Aderemi Olalere ADEBAYO

This study investigates the factors influencing internet financial reporting among nonfinancial listed firms in Nigeria, considering factors such as firm size, profitability, and auditor reputation. The study population consists of one hundred and twelve (112) non-financial listed firms of which purposive sampling technique was used to select fifty (50) firms having adequate information needed for the study in their annual report from 2012 – 2018. The study utilised multiple regression analysis to investigate the influence of firm size, profitability, and auditor reputation on internet financial reporting. It was found that firm size positively influences internet financial reporting, while profitability and auditor reputation have a positively significant influence on internet financial reporting. Therefore, the study recommends that policymakers endeavour to ensure that the listed firms provide their financial report for easy access to users on the websites.

35-44

Authors: Alona BEKH

Due to the growth of advertising business of search engines, aggregators, and social media, many publishers suffer the impact of declining advertising revenues, which most news media have historically relied on. Under such circumstances, the paid subscription model provides a worthy alternative to digital advertising. In the present research, the focus is made on the PEST analysis of paid digital media subscription model in European countries. A correlation and regression analysis are conducted to find out factors (independent variables) that have the most significant effect on the percentage paying for online news (dependent variable) in 23 European countries. As a result of research, the following most essential PEST factors are highlighted: mean broadband download speed, level of internet access in households, median household income, and control of corruption. As for recommendations, it is concluded that publishers should pay more attention to the indicated PEST factors in each European country to ensure their competitiveness. The further research on factors influencing the percentage paying for online news worldwide may boost the successful adoption of best revenue practices by digital media companies and ensure their competitiveness in terms of global digital leadership of top technology companies.

57-72

Authors: Marius GUST

In recent years, financial innovation has accelerated greatly, new financial services have radically changed the banking environment. The main factors contributing to the dynamism of fintech are the development of IT and mobile communications infrastructure, pioneering financial services offered by new technology companies and the design of new financial services based on consumer needs. The fintech areas are: credit, deposits and capital raising services; payment, clearing and settlement services, including alternative currencies; financial investment and insurance services. However, in the near future many of the new financial services will not pose too much of a problem for banks. For example, P2P loans will reduce the market share of banks, but in no case will they eliminate bank loans because, on the one hand, the clientele that will go to the market for P2P loans will be the risky one, unapproved by banks. and on the other hand, because credit institutions still have the majority of resources and the majority of customers. Another example is payments, which continue to be carried out mainly by banks because alternative systems do not yet have a global infrastructure, and the completion of payments presupposes the existence of the legal tender issued only by central banks.

86-96

Authors: Magdalena DANESCU

The improvement of the economic performances at the level of an economic entity supposes in fact a decrease of the degree of occupation of the human resources, implicitly of the volume of activity, hence, the need to recover the hourly volume. Basically, we are dealing with a reduction of malfunctions and a conversion of hidden costs into added value. Good cost management with human resources can be achieved through strategic piloting with the help of the dashboard. The use of this management tool helps to highlight the inevitable dysfunctions as the difference between the strategic objectives set by the economic entities and the actual achievements related to the period.

106-111

Authors: Mihail Alin STANCIU

Globalization and current economic changes bring new challenges for companies, industries and countries. The popularity of the concepts of performance and sustainable development is highlighted by the high national interest in these issues, similar to the policies through which the government aims to increase the performance of the national industry. The present paper aims to answer some questions regarding the analysis of company-level performance and the promotion of sustainable development. By linking the concepts of economic performance, global performance and sustainable development, a conceptual framework can be constructed to analyze the different approaches to performance. The analysis of ways to achieve sustainable development can be done from the perspective of performance. The competitive advantage of companies is based on their ability to achieve performances and to translate them into the level of sustainable development. The results of this article contribute to a better understanding of the correlation between performance and sustainable development at the level of the respective entities of the economy. The perception of business performance by all the categories involved undergoes a major change in the current period, the sustainable development already becoming a condition of survival.

122-128

Authors: Anda Ileana NECULA, Isabela STANCU (LITA), Gabriel CUCUI, Anca Daniela ŞENCHEA (FLOREA)

Romania owns an important granary area especially located, but not limited to the Danube meadow, in the Southern and South Eastern part of the country, which tends to be increasingly affected by the draught, in the larger context of climate changes. In addition, an important share of the Romanian population continues to live and work in rural areas, having the agriculture as the main occupation. In order to increase their performance and profitability, these agricultural exploitations need informational, logistical and technological investments, amid their adaption to the requirements of the European agricultural market, featured by market-oriented agricultural production structures. From the accounting point of view, choosing of the adequate method for the depreciation of the assets represent a topical point. This paper aims to review the depreciation methods used in order to ensure, via the costing mechanism, the recovery of the investments in the assets used in agriculture, and ensuring of the economic extension. The conclusions try to outline the strengths and the flaw points of every examined method, considering their adequacy for the agriculture domain.

134-139

Authors: Cristina STROE, Diana MOISEVICI-SERB

This is a topical theme that aims to objectively capture education in the online environment, taking into account the context in which we are (the pandemic and the existing restrictions). It was assumed that pupils’ school performance is weaker during the pandemic period than in previous years, and the main cause is the online conduct of the educational process. For this purpose it was used as a research method - the observation sheet structured on several themes. The most important conclusions drawn from the theoretical and practical part of the article illustrate that there is a link between the school performance of the pupils and the way the classes are conducted (online or traditional).

146-151

Authors: Loredana Maria PĂUNESCU

In the analysis we made turned its attention to analyzing the relationship comparative analysis model for recent years. In the analysis, a correlation model was developed between companies that supply consumer products and sales in different periods, under different conditions, including the current one, which is quite sensitive and difficult for us. Due to technological advancement, the business environment has radically transformed the lives of both organizations and customers. Each business must have a web page containing the activity object, the products and services offered. The purpose of the website is to cause potential customers to access it, determine its content and not least to purchase a product or service. Promotion is the techniques used by an enterprise to make its products / services known to current or potential consumers. The main role of promotion is to successfully develop the organization and make a profit.

159-172

Authors: Tatiana GUTIUM

The main trading partners of the Republic of Moldova are Romania (member state of the European Union), the Russian Federation (member state of the Eurasian Economic Union) and Ukraine. The trade policies promoted by these states have particular characteristics, some of them have positive effects on national economy, but another negative effects. The object of research is the trade commercial policy. The main purpose of the study is the elaboration of recommendations for streamlining commercial policy of the Republic of Moldova based on experiences of the main trading partners. In order to achieve this aim, the following research methods were used: the method of ascending from the abstract to the concrete, comparative analysis, systemic approach. Economic growth, competitiveness and foreign trade are interdependent. Therefore, the relationship between trade policy and theories related to competitiveness was analysed for explain the theoretical aspect of the research object. According to the results of the analysis of trading partners’ practices was developed recommendations for improving the commercial policy of the Republic of Moldova.

12-23

Authors: Viorica IDU (DINDAREANU)

The result of an entity is presented by means of some patterns that highlight the evolution in time of this concept. The new vision of the comprehensive income is shaped by the pyramid approach carried out by J.F.Casta and O. Ramond. The pyramid approach points out the difference between the operating income and the comprehensive one, by including the OCI component- a consequence of the use of the fair value measurements of some asset and debt items. There are also mentioned various patterns of the contents of the profit and loss account, according to the structure of the expenses, as a result of the nature criterion or the entity’s functions one. There can be found as well patterns of the result’s analysis by means of the direct costs and of the break-even point. The aim of the study follows the good knowledge of the advantages and the limits of the different ways of underlying the results.

32-38

Authors: Monica-Ionelia MĂRGĂRIT

This paper attempts to create and overview image of the main monetary policy instruments used by the National Bank of Romania, starting from 2000 until present, as well as the evolution and the changes that these instruments have undergone in terms of value. The first part of this paper tries to present the main monetary policy instruments used by the central bank, while the second part analyzes the evolutions they have encountered during the considered period. According to the National Bank of Romania, currently, three such instruments are used, namely, open market operations, permanent facilities and minimum reserves required. Following the analysis we have made, we can say that, overall, the evolution of the three monetary policy instrument can be characterized as a descending one and the effects that the changes made in terms of their values had on the economy were, most of the time, the ones that the central bank has anticipated.

45-53

Authors: Mihail CIOBANU

One of the main directions of the public spending policy in Republic of Moldova is the social protection of the population. A group of population that is, especially, vulnerable to the difficult social and economic conditions is the children in difficulty – children who have insufficient parental support or lack it, due to parents’ negligence, violence, death or other unfavorable conditions of familial environment. A widespread measure of support of these children is their separation from the difficult familial environment and the subsequent institutionalization. On the one hand, the need to make the use of public spending more efficient in supporting this category of children, on the other hand, numerous researches that demonstrate the negative effects of institutionalization on children have determined the government of the Republic of Moldova to orient itself towards deinstitutionalization measures in the last decade. In this paper we try to determine the main aspects of the public spending policy on the social protection of children in difficulty in the Republic of Moldova of the last decade in the light of deinstitutionalization efforts.

69-74

Authors: Sergiu - Dan IURIAN

March 11, 2020 will forever go down in history as a sad date for humanity. It is the date when the World Health Organization declared the spread of the COVID-19 as being redefined as a pandemic crisis. Since then, and even before that, the spread of the virus has left its mark over the way migration is being understood. Usually governments had to tackle mostly problems regards illegal migration and migrant flows due to war zones. Since the pandemic crisis and its impact over the economies, the world is facing another challenge: the one regarding huge legal labour migrant flows, of people who were left out of jobs by the economic impact of the pandemic crisis. The purpose of this article is to make light into the current global status regarding the most affected parts of the world where positive and negative migration is evolving and how authorities adapt their methods and respond to such challenges, but also to take into consideration the future of illegal migration.

86-90

Authors: Loredana Maria PĂUNESCU

A study on the labor market in Romania requires both knowledge processes, realities and trends across the country, and knowledge of phenomena manifested in this market over the years. The labor market in Romania is influenced by economic and social system of politics and the environment, so supply and demand on the labor market often have different tendencies, leading to a tense labor market. In recent years, the labor market has undergone a number of changes, so that both employees and employers have a new perspective regarding labor market insertion.

96-102

Authors: Mădălina ALBU

One of the major concerns of the companies in the field of natural gas distribution is the development of the natural gas distribution system, both by its extension in the areas covered by the concession contracts, respectively by the license, as well as by the concession of new distributions. The foundation of the plans for the sustainable development of the distribution system in the medium and long term is done taking into account the new innovative technologies in the field, as well as the use of modern computer applications that will ensure the efficient management of the distribution networks in accordance with the regulations of the National Regulatory Authority in Energy domain. Considering that natural gas plays a key role in the transition towards an economy based on reducing carbon emissions, representing clean energy, flexible and adapted to energy needs, one of the objectives of the activity in the field is the use of innovative technologies to increase performance. economic. The paper addresses the field and refers to the activities carried out by Distrigaz Sud.

122-131

Authors: Simon OGAGA

Employing descriptive analysis along with documentary evidence, this research investigated the time frame of budget passage in Nigeria and its implications on the economy since the time of her democratic dispensation. The enactment of the Federal budget prior to the new fiscal year is fundamental to quality governance. From the year 1999 to 2019, the different government administrations that have been at the helm of affairs have signed 21 national budgets into law (year 2000 budget to year 2019 budget). Of the 21 national budgets for the epoch of this study, findings reveal that only 14% of the federal budgets have been passed into law before the new fiscal year, while 86% have been delayed, with negative implications on budget implementation, the wellbeing of the citizenry and the general economy. Some of the consequences of a delay in budget passage are that it holds back private investments due to the fact that investors would be uncertain of the economic outlook for the forthcoming fiscal year, affects capital market activities and at the same time creates distortion in economic planning in the private and public sectors of the economy. It is recommended that there should be a constitutionally approved timeline for the enactment process which will be binding on all stakeholders of the federal budget process (and constitutional sanctions for violation of the approved timeline) in order to ensure timeliness in the yearly budget passage thereby creating the enabling environment for effective budget implementation and economic growth.

140-145

Authors: Tatiana MANOLE

In this article we wanted to inform the reader about the process of financing education in the Republic of Moldova. Although the number of educational institutions and the number of pupils / students is decreasing, the state budget increases the allocations for this branch from year to year. This effort of the state budget must change the content of education by increasing the quality and performance in this area of priority importance for the state. We have demonstrated the increase of budgetary resources by increasing the amounts of value norms for a weighted student and for an institution, starting with 2014, the year in which in the Republic of Moldova pre-university education moved to a new funding methodology - based on standard cost per weighted student.

153-163

Authors: Cristina-Cora PÎRVU, Maria Carmen IORDACHE

Social inclusion, as a support for social policies, is both a deliberate process of integrating and welcoming all people into a society based on equal opportunities and greater tolerance, and an objective aimed at combating social exclusion by removing barriers to people's participation in society. In the foundation of social policies are used social indicators that allow the description in statistical terms of the level of social development achieved in society, but also of the current existing problems. They provide confidence in social policy actions and make it possible to monitor progress in solving problems of general interest. This paper highlights the conceptual presentation of the term of social inclusion, both in general and from the perspective of the European Union, the system of indicators used in measuring social inclusion, social trends regarding the evolution of social inclusion indicators at EU and Romanian level.

170-179

Authors: Maria Carmen IORDACHE

Tourism and religion are two increasingly interconnected notions in many cultural contexts in the future, given the popularity and flexibility of both activities. Religious tourism is the pioneering form of tourism that began almost with the beginning of mankind. Since ancient times, religious destinations have not only been a part of the cultural landscape, but have also become a vital factor in local marketing and the economy of hosted destinations. The purpose of this article is to give an outline of a meta-analysis, which reflects the key areas of the perspective of the academic impact of the connection of religion and tourism, to generate a conceptual framework that may be useful to decision-makers in the industry, to understand the effects of and dimensions of religious tourism as well as the factors that affect the growth in religious tourism.

187-191

Authors: Niculina STANESCU

As a result of the risks to which the firm is presently exposed, their assessment and the analysis of the financial implications on the company imply a high level of professional judgement of the management. The recent events related to COVID 19 have implications for the financial reports of the companies, especially for those with economic connections with the affected areas. From January 2020, auditors must be extremely alert to audit risk, mainly in terms of the direct implications for the compliance with the principle of continuity by the audited companies.

16-22

Authors: Emil DINGA

The paper aims to analyse, from a critical point of view, the standard models of economic growth which are based on the consumption as command variable within a post-keynesian economy. To this end, firstly, the study identifies the theoretical macroeconomic variables which can stay as proxies for consumption (for example, the wage), extracting the pros and cons arguments for every of them. Finally, the paper provides a set of arguments in favour of considering the consumption as an appropriate macroeconomic variable to model the economic growth, especially in the post-pandemic COVID-19 period, based, of course, on taking into account the economic sustainability on medium and long term.

29-37

Authors: Teodora Maria SUCIU (AVRAM)

The analysis of the possibilities by which the expenses can be measured in the clothing industry in Romania, is the starting point of this research. We consider it useful to know the ways of measuring the expenses at the level of companies, in order to obtain a greater profit, by using as little resources as possible. The results of the empirical study are satisfactory, in the sense that through the safety interval of the average of the expenses, it is possible at any time to check the state of the company's performance. Therefore, according to the results of the proposed model, the company that is the subject of the case study should find solutions to reduce the operating and financial expenses existing in 2017.

50-57

Authors: Aurelia DUCA, Corina GRIBINCEA, Alexandru GRIBINCEA

The problem of ensuring the conditions of sustainable development is one of the most frequently discussed theme at international summits and meetings at different levels. The international community has recognized the degree of responsibility for future generations and outlined the concept of further development, but there are still difficulties in its implementation. The lack of uniform methodological approaches for the transition to a new development path, the lack of development of financial mechanisms and models of cooperation between international organizations and local communities - all require generalizations of modern experience and practical actions on the path to sustainable development. In this regard, the authors analyzed innovative financial approaches used for economic sustainability.

66-82

Authors: Angela TIMUȘ, Alexandru CEBAN

From ancient times the shadow economy has always found various ways and means to have its presence in any national economy in various forms. The development of this phenomenon leads to an economic activity parallel to the official one, which will eventually lead to the loss of control of the state authorities. The paper aims to make a general analysis of the theoretical aspects of shadow economy, being focused on concept approach, methodology of evaluation, as well as presentation of some countries’ experience in assessing the shadow economy. Taking into account that the paper has a pronounced theoretical character, the research methods are mainly focused on bibliographic research of foreign and local articles of scholars who dedicated their work to assessing the shadow economy. At the same time, a series of other scientific research methods have been used such as: the logical-abstract method, the method of comparison, the monographic method, etc. The main results are focused on development of an own definition of shadow economy by the authors and assessment of evaluation methods through their advantages and limits.

90-102

Authors: Patricia Amalia MERCEA (HANDRO)

Understanding how real economy adjust to the exchange rate fluctuations enables us to anticipate the effects on inflation, capital market, exports, as well as the monetary policy responses. This study examines the extent of the exchange rate pass-through to the real economy (consumer price index, industrial production, capital market, exports, interest rate) in Bulgaria, Czech Republic, Poland, Romania, and Hungary over the 2008M01-2019M08 period. A Vector Autoregressive analysis using impulse-response functions supported the results for the short term and found a lower degree of passthrough for the exchange rate shocks for all CEE countries. The results of its econometric analysis show that the degree of the exchange rate pass-through is incomplete. The conclusion is that exchange rate remains an important instrument for monetary policy in these economies.

115-123

Authors: Nicoleta MIHĂILĂ

This paper proposes several directions for adapting taxation to promote the stability and competitiveness of Romanian companies, directions that have as a starting point the current situation in Romania, from a fiscal perspective. These directions include: increasing tax revenues to the state budget (in this context we present comparative aspects on the situation of tax revenues in Romania and the EU), increasing the level of collection, stimulating investment in research and development through fiscal facilities, increasing tax compliance, fiscal predictability. In this regard, we used data provided by World Bank reports, the Fiscal Council as well as the report prepared by the World Bank and PwC, Doing Business.

130-133

Authors: Georgiana-Gabriela IACOBUȚĂ

The aim of this paper is to analyse the impact of strategic planning in the development of public transportation. Therefore, we conduct a short literature review concerning the relation between strategic management, in general, and the development of public transportation, and, more specifically, different aspects of strategic planning in relation to the development of public transportation. We include both theoretical views on the subject and empirical studies in different regions and states which show the effect of strategic planning on the changes related to public transportation.

141-148

Authors: Gabriela-Mariana IONESCU

The paper aims to examine two paired phenomena in the fiscal process (more exactly, in the budgetary obligations collecting), namely multiplying and dividing. The multiplier of the fiscal collecting indicates how and how much the fiscal evasion could increase the budget receipts (if the fiscal administration does work), while the fiscal divisor indicates how and how much the fiscal evasion could decrease the budget receipts (if the fiscal administration doesn’t work). The two indicators are algebraically modelled, and some empirical data are used in order to illustrate the mechanisms of multiplying and dividing, respectively, regarding the budgetary receipts when the voluntarily conformation to pay the budgetary obligations leaves to be still desired.

155-160

Authors: Mihaela PREDA

The modern conception of economy bases the conceptualism of finances on judgment, logic and practicability, which leads to the increasing of the benefit and to the importance of the organization. Finances are represented by the financial resources of the organization that performs its functions. In order to provide the products and services useful to the society, both the public and the private domain are needed. The private domain has a competitive economy with products and services made from private capital. The public domain has a forecasted, concentrated economy, the products and services being made from public funds. Public finances are made up of resources, expenses, loans and public debts associated with the state, the public and administrative-territorial authorities, and are materialized in the public budget. Private finances are made up of resources, expenses, loans, receivables and payment obligations of private organizations. Banks and other financial institutions that attract capital form the financial market. Financial management provides the institution with the resources it needs. Financial management can be defined as the science that studies the processes of leading, predicting, organizing, training and controlling the financial capital available in the organization in order to achieve the proposed objectives. The organization is a system, a set of sides that interact, perform processes or solve tasks in order to achieve the proposed objectives. This is made of inputs, processes, outputs and control or feedback.

170-174

Authors: Isabela STANCEA

The right to information is a fundamental human right, guaranteed by international law and which has been transposed into Romanian law. Information has an essential role in social progress, in promoting social values, being also called "the oxygen of democracy". The individual's right to information underlies his participation in the life of society, in democratic accountability and information must flow in a free flow, in two directions, from society to the citizen and vice versa. In most democratic countries, and not only, this right is stipulated in legal texts of the highest level (constitutional texts), but unlike other rights, this is a relative right and not an absolute one, being susceptible to restrictions or limitations. The limitation of the right to information must be proportionate to the interest protected by this restriction on the exercise of the right.

180-185

Authors: Delia TESELIOS, Mihaela SAVU

The evolution of Artificial Intelligence is closely linked to the evolution of technology. Thus, the increasing computing power of computers, their ability to perform more and more complex tasks, the access to very large volumes of data, the use of graphical processing units, are some of the elements that have contributed to the development of Artificial Intelligence, which has nowadays an active role in our daily lives. This paper aims to present the impact that the adoption of Artificial Intelligence has on the economic environment, through an analysis of some fields of activity together with a series of processes corresponding to each field.

195-200

Authors: Loredana Maria PĂUNESCU

In recent years, it found that universities attach great importance to participation in projects relating to the insertion of graduates in the labor market, both as coordinator and partner institution allocating significant human and material resources for the successful development of these projects. In this respect, the analysis carried out we started to focus on one of the problems in Romania, namely, that today, few graduates fail to integrate rapidly into the labor market. In fact, it is known that the labor market is the relationship between young graduate and employing companies. However, job security, one of the important conditions for graduates is endangered by the current economic crisis. Job loss is one of their main concerns given that supply is more limited than at the time of their enrollment in the labor market. Also, high rates of unemployment indicate their main difficulties that they experience in graduation-work transition. Better education and access to education for gaining greater stability in the labor market would allow natural insertion in the labor market. Also, high rates of unemployment indicate their main difficulties that they experience in graduation-work transition. In recent years, many young people graduate from university increased significantly in recent years. Of course we can not isolate statistical data quality workforce, amid the transformation of higher education in mass education, which often hide masked youth unemployment by delaying the integration into the labor market and further studies. However, this statement regarding the level of education required for a post became widespread labor market in Romania, in the sense that, even for jobs that would normally be performed by persons with secondary education is required diploma University studies. Also, in recent years we have witnessed an excess of demand for jobs in relation to the supply of the market. The current economic situation and the situation on the labor market leads university graduates to settle for work that you have, even if it does not meet their expectations.

18-26

Authors: Marius GUST

For many banks, the closure of agencies has been, in recent years, a coordinated development strategy, because their objectives are to reduce costs and the number of clients visiting their branch. The increase in alternative payment methods and decline in cash use means that there is little need to visit the bank for transactions. But people still like to visit a banking agency, though less frequently than usual and for other purposes. In today's digital age, in addition to virtual experiences, people also want physical experiences, and visiting a branch may be more appropriate for some clients and for certain services. Clients tend to visit an agency to learn more about banking products and services, such as mortgage loans or more complex investment products, such as pension plans, because they want to receive financial advice. Although most clients start the journey online to find the financial products they need, many of these trips are concluded and completed at the traditional banking agency. Thus, for many banks, the traditional branch remains a crucial point in the relationship with clients, the place of manifestation of its brand/image and all that it represents. Although branch closures have been a major issue in recent years, many banks - including new ones - are opening branches, while others are turning branches into counselling agencies. If the bank branch has outlived its usefulness, why do some banks open new ones while others retain theirs, even transformed. Banks that dispense with their branch networks could be endangering their future.

36-43

Authors: Lucian IVAN

Analysis of data on arms exports worldwide reveals relative stability in the international arms market that increased in 2019 compared to 2018, by about4%, with growth in the United States of 6.6%, equal to that of China. This trend in the United States of America may diminish considerably in the coming period, given the limitation of the increase in the defence budget from fiscal year 2021, and in the case of China, the sars-CoV-2 coronavirus crisis will have effects including in the defence industry. Recent developments resulting from the economic crisis caused by the medical emergency caused by the COVID-19 pandemic, induced by the worldwide spread of the SARS-CoV-2 coronavirus, will also have effects in the defence industry, mainly on the the basis of the contracting of gross domestic product at state level. To overcome this crisis situation in the defence industry, innovative measures are needed to enable the development of state-of-the-art military products adapted to the market requirements and defence needs of resource-enabled States financial support, while accelerating the work of the applied Research and Development sector that will enable such products to be produced.

50-61

Authors: Ion SCURTU, Gicuța SBÎRCIOG, Delia - Cristina CONSTANTIN

Food is one of the vital human needs and everything that is alive. In human nutrition, vegetables play a major role, bringing the body an important supply of vitamins, minerals and fibers. Therefore, horticulture is an important branch of the economy, especially since the Romanian people are one of the largest consumers of vegetables in Europe. Unfortunately, it is noted that the value of vegetable imports exceeds that of exports, although our country has the potential to offer a much higher of vegetables yield. The present research aims to outline some possibilities for increasing the economic efficiency of vegetable growing in Romania. For this purpose, the authors propose a number of possibilities, including increasing areas for growing vegetables in protected areas, gradually increasing vegetable production and export, lowering vegetable imports and bringing prices of exported vegetables closer to those imported.

72-81

Authors: Mihaela DIACONU, Amalia DUȚU, Mihaela BRÎNZEA

In the current context of the dynamics and volatility of the global labor market, the employability of graduates of higher education is a key indicator of identifying the extent to which a university successfully fulfills its assumed mission - education. At the international level, the researchers have proposed different approaches to the concept of employability and have built different models to determine the components of the employability and the ways to increase it. The purpose of this paper is to present the most important models of employability and to introduce a new approach that extends the debates on this concept by involving all stakeholders - students, graduates, employers, university. The paper also identifies the role of the university in supporting the employability of the graduates and introduces a model of curricular development applied to reduce the gaps between the competences provided in the curriculum and those required on the labor market in order to increase the rapid insertion in the labor market of the graduates. The proposed model has been applied and validated within a project funded by the European Social Fund, generating significant results by redefining the practical competences and improving the practical training of the students from 8 degree programs.

91-98

Authors: Carmen-Mihaela BOTEANU, Emanuel RĂUȚĂ, Oana LUCA, Florian GAMAN

The paper aims to carry out an analysis of the performance components of the local development strategies funded under the LEADER Measure from the National Rural Development Program 2014-2020. The article analyzes the Local Development Strategies financed in each development region of Romania from the perspective of the most relevant performance indicators achieved through the implementation of these strategies. The paper emphasizes the contribution of the Local Development Strategies to supporting the bioeconomy, as a smart specialization field, in the National Strategy for Research, Development and Innovation and within the smart specialization strategies adopted by Romania’s development regions. The "bottom-up" approach, specific to the LEADER concept, is highlighted, and the role of the Local Action Groups implementing the Local Development Strategies is outlined, in supporting the development and innovation at the local level, as well as in supporting the areas of smart specialization within the relevant regional and national strategies. The paper concludes that the field of bioeconomy, benefiting from the huge potential of the Romanian agriculture, in the context of a growing food industry, could represent a key sector of ​​development of the Romanian economy.

108-114

Authors: Evelyne Ingrid MITU, Elena Loredana COMĂNESCU

Interpretation by comparison of human resources management applied between two countries with different application methods and techniques of human resources management, yet with spectacular results in their economies (US and Japan). Despite the differences between Japanese and American management styles, both will have a huge impact on their national economies. In general, in the field of human resources, the labor relations within the organizations are, mainly, characteristics that differentiate the Japanese management system from the other countries, especially the USA.

125-132

Authors: Mariana MANDRA, Valentin ILIESCU, Amalia GURGUI, Alexandru GRIBINCEA

Modern tourism industry is progressing rapidly. Its development contributes to active economic growth of many countries on the globe. The development of tourism industry of a particular state is significantly influenced by world tourism development trends. Today, tourism has become an independent sector of economy, almost 6%of the global gross national product, 5% of all tax revenues and 7% of global investment. The future of tourism is closely connected to the ability of industry to introduce alternative energy technologies and design sustainable development strategies. Sustainable development strategies are a prerequisite for solving problems related to climate change, and play a key role in the implementation of the2030 Agenda for Sustainable Development. The tourism market is part of national economy. In the case of international tourism, it simultaneously refers to two sometimes very different economic systems, one of which exists within the borders of the source country and the receiving country. International tourism contributes to the design of a new type of spatial connections that reduce risks of regional conflicts, contributing to cultural and technical enrichment of countries and peoples. The World Tourism Organization declared the year 2020the year of rural and ecological tourism. The point is that tourism should develop and bring people financial resources not only in big cities, but also in provinces and in the countryside.

142-155

Authors: Ion CUCUI, Silviu Constantin NASTASIA

This paper empirically addresses the issue of creative accounting in financial reporting, focusing on how it influences the quality of financial statements prepared and reported by economic entities. Creative accounting cannot be automatically classified as legal or illegal, in the absence of an in-depth analysis, but is negatively correlated with the approach of managers or professional accountants to manipulate accounting data to achieve certain objectives or meet certain financial indicators relevant to third parties. The data were collected from open sources, from databases available to the general public, for the study being selected an economic entity based on certain representative criteria, such as economic size, business segment or history. The study revealed that, based on the analysis of the financial statements prepared by the economic entity for a period of two consecutive years, were highlighted elements that suggest a use of imaginative accounting, being likely to mislead stakeholders about the performances registered.

170-177

Authors: Georgiana-Gabriela IACOBUȚĂ

A growing number of businesses seek to become more environmentally-friendly and to employ effective and efficient strategies that include objectives such as decreasing their carbon footprint, reducing their waste and increasing their energy efficiency. In order to make their efforts measurable and to evaluate the implementation of the strategy, environmental key performance indicators (KPIs) are increasing in popularity for the companies’ strategy. However, the number of KPIs used in business strategies is rapidly increasing. Therefore, more and more companies and researchers are presented with the dilemma of selecting the most relevant, useful and important environmental KPIs. In this paper, we analyse the literature concerning environmental KPIs, discuss different criteria used in the selection of such KPIs, and make proposals regarding this criteria.

184-186

Authors: Lucian Gheorghe NĂSTASE, Maria Georgiana PONEA

Blockchain technology is used by entrepreneurs as an innovative tool in online trade so that they can handle the problem of traceability of the product in the management of the supply chain. This research want to be a cross-border between blockchain, ecommerce all made in the entrepreneurial environment. In the end it will be a set of methods and algorithms that are developed for the information encryption and for anticounterfeiting. There will be presented algorithms and methods to show a complete and working solution, which are evaluated by applying to several typical problems and attack cases. The effectiveness, extendibility, security, implementation and governance issues of applying these algorithms, methods, solutions are also discussed. This research contributes to the theoretical and practical literatures on blockchain technology, cross-border e-commerce and supply chain management research fields.