Annals of Spiru Haret University. Economic Series

10

Authors: Ahmed Owolabi OLAJUWON

Nigeria's youth unemployment rate is at 54.4% in the last quarter of 2020 (National Bureau of Statistics, 2020) which thus gives us an obvious reality of the danger of ever-increasing youth unemployment flooding the landscape of Nigeria, while several governmental initiatives in time past have not been able to help in curbing youth unemployment challenges in Nigeria, this study adopt the systematic review analysis in assessing the capacity of apprenticeship and informal sector capacity in reducing youth unemployment in Nigeria. This study calls for apprenticeship modernization and informal sector support in reducing youth unemployment in Nigeria as both apprenticeship and informal sector were proven to be significant measures in reducing youth unemployment in Nigeria.

13

Authors: Jelena STANKOVIĆ

In modern business conditions, people are constantly engaged in building their identity, so the symbolic characteristics of products are often the primary reasons for their purchase. Brand personality is generally understood as a characteristic of a brand. Accordingly, just like people, all brands have a certain degree of personality. In some cases they are very emotional and lively, in other cases they are underestimated or barely noticeable. Since the brand personality is an intangible category, marketing experts strive to understand the needs of consumers and how the brand personality affects their preferences and loyalty. Starting from the existing theoretical views, the aim of the author is to investigate the relationship between the personality of the consumer and the personality of the brand in the mobile phone market in the Republic of Serbia. The intention is to look at the relationship between personality characteristics and individual dimensions of the brand personality based on the obtained empirical data, based on which the connection between these variables will be identified, and then guidelines for further business in the mobile phone market.

15

Authors: Olufemi Samuel ADEGBOYO, Dominic Olorunleke OLUGBAMIYE, Olakunle ADEPOJU

The study conducts investigation into how migrant remittance drive private investment in Nigeria spanning from 1980 to 2021. The study adopts flexible accelerator theory as its theoretical framework. The study employs Augmented Dickey-Fuller (ADF) unit root test to test for stationarity of each variable, and the result reveals that there is mixed among the variables. Sequel to the mixed level of stationarity of the variables the study employs ARDL estimation technique to investigate the impact of migrant remittance on private investment. The study found that in the short run migrant remittance and interest rate drive private investment while exchange rate, gross domestic product growth rate, inflation rate and financial deepening crowd-out investment in Nigeria. Whereas in the long run, all the variables drive investment aside financial deepening. Consequently, that policy makers and government should formulate policies for free flow of remittance into the economy without any difficulties, also the study recommends that adequate monetary policy should be formulated to ensure that the financial sector serves its function of enhancing private investment in Nigeria.

17

Authors: Adenike Titilayo EGUNJOBI

High GDP per capita and growth rate seems not to spur greater reduction in poverty and inequality in most African countries. Thus, this study examined the possible cause of this unparalleled situation and established the nature of the relationship between the much better measure of economic well-being (GDP or HDI) using panel data analysis on cross section data collected for 15 countries in Sub Saharan Africa (SSA). Conducting the Hausman test, it was discovered that the Fixed Effect Method rather than Random effect Method was more efficient in interpreting the behavior of GDP per capita and HDI. The results showed that HDI is a better measure and determinant of wellbeing than GDP per capital. Furthermore, the variables of the model were all statistically significant and correctly signed. The study recommended that governments should embark on programs that directly impact the quality of life of the people.

17

Authors: Devajit MOHAJAN, Haradhan Kumar MOHAJAN

In this paper, the method of Lagrange multipliers is used to investigate the utility function; subject to two constraints: budget constraint, and coupon constraint, and to verify that the utility is maximized. An economic model of an emerging firm has been developed here by considering four commodity variables. In the study, the determinant of the 6×6 bordered Hessian matrix is operated to verify the utility maximization. Two LaGrange multipliers are used here, as devices of optimization procedures, during the mathematical calculation. In this article, an attempt has been taken to achieve optimal results by the application of scientific methods of optimization.

18

Authors: Samuel C UGOH, Celestine OKWUDILIABASILI, Wilfred Isioma UKPERE

Funding government expenditure can be achieved through imposition of compulsory tax or levy on individuals and businesses to raise revenue for the different functions of the State. Invariably, taxation is the forced contribution of money by an individual, exacted pursuant to legislative authority for support of the government and public welfare. This paper examined the extent to which voluntary compliance and obedience to the discharge of civic obligations such as income tax payment is influenced by governance responsiveness. The study adopted extensive review of literature on governance in Nigeria to interrogate the public compliance to income tax, regulations against the background of the historic culture of tax avoidance and evasion. The paper adopted the Social Contract framework to analyze and understand the phenomenon of both dependent and independent approaches. This paper revealed a significant level of noncompliance to public laws in Nigeria’s Fourth Republic due to government unresponsiveness to societal needs and aspirations. Accordingly, the adoption and institutionalization of good governance practices was recommended as a sure way to win public trust and voluntary participation in civic obligations.

21

Authors: Etim O. FRANK, Wilfred Isioma UKPERE

The study examined the concept of health security and its applicability in Nigeria and upheld its desirability because safety is man’s most prized want, including health security. However, the culture of Nigeria’s ruling class, which relies on overseas medical tourism, made them unaware of this phenomenon. The study applied the descriptive design, using the case study as an investigation tool, since health security is embedded in human security. The case study procedure revealed that Nigeria spent merely two thousand Naira per capita per population. This was reflected in the country’s low budgetary allocation each year, which is also the lowest in the African continent. This accounted for why the Nigeria Medical Association (NMA) embarked on strike action often as means to demonstrate inadequacies in the sector and to make the ruling elite understand the symbiosis between human and health security to prompt them to allocate resources adequately to both areas. This approach revealed that to have health security, infrastructure must be provided adequately at three levels, namely primary, secondary, and tertiary health centers, respectively. These levels must support each other, and the services should be accessible, available, and affordable. Health security must form part of the agenda for public policy in the health sector because it is unknown to public policy drivers and the National Planning Commission that design developmental plans for Nigeria. In the absence of a functional national health insurance scheme, affordable health security is an alternative. This is one of the major ways in which the life-expectancy of Nigerians, who live in a country surrounded by brutish living conditions, can improve. Amongst others, this study proposed that the ruling elite should obtain their healthcare needs within the country, whilst all employers who have 25-30 employees, should establish a health insurance scheme for their employees.

22

Authors: Jasmina OGNJANOVIĆ, Bojan KRSTIĆ, Tamara RAĐENOVIĆ & Milica JOVANOVIĆ VUJATOVIĆ

The purpose of this paper is to provide the answer to the question - Can the efficiency of intellectual capital (ICE) be a factor in maintaining the profitability of young and mature hotel enterprises in the crisis caused by the Covid-19 pandemic? The key goal of the paper is to point out the importance of intangible (intellectual) resources for improving business performance, and above all, profitability. To respond to the goals of the research, an analysis of the contribution of human capital efficiency (HCE) and structural capital efficiency (SCE) to the profitability of young and mature hotels in the year before the crisis and the year of crisis in the Republic of Serbia (RS), as an emerging country will be given. The study's findings suggest that the ICE components have a partial impact on the profitability of young hotels in the year before the crisis. In the year of crisis, the ICE components partially affect the realization of sustainable and profitable business among mature hotels.

25

Authors: Elena GURGU, Gabriela UNGUREANU, Eugen GHIORGHITA, Diana-Virginia CRACIUNAS, Ioana-Andreea GURGU

Change is a common thread that runs through all businesses, regardless of size, industry and age. The business world is changing rapidly, and organizations must change just as quickly. Organizations that engage in change thrive, while those that do not end up struggling for survival. Change leadership plays a key role in any successful business, representing an important part of leading a high-performing team as well as a successful business. Regardless of whether a company's team is working on a project, a software update, or an ongoing optimization idea, change leadership is extremely important. As the business grows, so does the team. With more employees and more tasks, any business needs a plan to manage change and stay on track for performance. Given the fact that resistance to change can play a major role in determining how a company operates, it is necessary for those who deal with change leadership to find strategies and solutions to avoid mass resistance when a change occurs. In this paper we will address precisely the strategies, solutions and planning of a permanent leadership of change at the company level, so that a business becomes successful. We will go through the steps that were taken by a company to get the agile-performing and practical- transformational change leadership model, which comes with strategies, principles and modern business tools and solutions.

28

Authors: Nicola WAKELIN-THERON, Wilfred Isioma UKPERE

The taxi industry provides mobility and employment. Sustainable transportation must be served by innovative practices, namely new mobility types, appropriate infrastructure, and intelligent systems to manage livable environments. This study aims to determine the current practices and sustainable alternatives for taxi role players and the Department of Transport. The objectives were to determine probable future changes as well as ascertain whether there is a gap between the future of transportation and the vision of stakeholders. A qualitative research approach using semi-structured individual interviews was adopted. Participants for the study were selected purposively in Johannesburg and included people working in industry as well as experts in the field. The findings highlighted a significant gap between the understanding of the South African National Taxi Council, Department of Transport, taxi owners, taxi marshals, and taxi drivers regarding the way forward towards embracing sustainable practices. The researchers conclude that sustainable innovations are imperative for transportation development, economic growth, as well as reaching the United Nations sustainable development goals. This study provides a good understanding of the backgrounds unique to taxi industry in Johannesburg, sustainable mobility practices, as well as gaps in the industry.

8

Authors: Irena TODOROVA

The report presents the objective need for motivation as an element of managerial impact in the Ministry of Internal Affairs. The activity of the state administration should correspond to the high public expectations for professional competence, legality, integrity, correctness, and responsibility. That is why motivation is the key element that leads to the formation of specific behavior aimed at the observance of value orientations in the performance of official duties and is an important prerequisite for the prevention of corrupt behavior among the employees of the Ministry of Internal Affairs.

11

Authors: Jannatul FERDOUS, Haradhan Kumar MOHAJAN

This article tries to calculate a maximum profit from sale items of an industry. This study has considered three inputs, such as capital, labor, and raw materials and other inputs for the mathematical analysis of the production procedures of the industry. In the present competitive global economy policy, to survive strongly, there is no alternate of sustainable economy. For the survival of an industry, profit maximization policy is vital. To acquire maximum profit, the production unit of the industry must be run in an efficient way. In this study an attempt has been taken to maximize the profit of an industry using Lagrange multiplier technique by applying necessary and sufficient conditions.

12

Authors: Daniela PAȘNICU

The needs of the workforce are constantly changing as a result of global concerns about digitization, production automation, the introduction of new technologies and industry 4.0. Therefore, the labor market needs a continuous reassessment of labor skills in the context of digitalization and the industrial revolution. The paper will study the change in perspective of the structure of the employed population by occupational groups and in high-tech economy of Romania compared to UE27 and the most requested skills currently in online job postings in various fields, based on traditional and intelligent data from Cedefop. It is also intended to understand how the use of BigData can facilitate labor market decision-making. The analysis of the skills required in the jobs posted online from various fields in Romania, in 2020, suggests importance of digital and contextual skills having in view that in the top is ,,accessing and analyzing digital data”, followed by ,,working with others” and ,,using digital tools for collaboration, content creation and problem solving”.

13

Authors: Sebastian Cristian CHIRIMBU

A modern educational institution should create the necessary conditions for the integration and development of the personal and professional competences of the teachers in order to obtain a successful career. In the current context of the educational system in the Republic of Moldova and Romania, the capitalization of human resources is a priority objective of the managers of educational institutions. The difficulties they face, the constantly changing educational reforms, the unpredictable and challenging situations are known partially or impartially theoretically and practically by teachers who are beginning to integrate into the institution, and the process of insertion from educational institutions is often not effective. We will analyse the characteristics of a successful career but also the motivation for achievement as an important component of the professionalization process, teachers thus tending to pursue challenging careers, complex enough, but not so difficult as to end in failure. Therefore, if professional motivation is an important endeavor, because it starts from the idea that a large part of everyone's life spends at work, performance denotes the achievement and ability of the teacher to respond to tasks and to be a model for those in the organization when it comes to involvement and responsibility.

13

Authors: Mihaela BEBEȘELEA, Adina TRANDAFIR

The objective of the article is to produce and validate a statistical model for quantifying the performance of family firms. Such aim will be achieved through the analysis of a sample of 27 entities from the “family firms from Romania” group. The statistical hypothesis underlying the specification of the model is one according to which selected variables will distinguish the performing family firms from the non-performing ones, regardless of ownership. The article addresses an alternative possibility for assessing the financial performance of family businesses, namely a model created by Carton, R. The complex indicator created by Carton, R, is composed of performance factors such as asset growth, debt change and degree change survival rate (Z-score change), calculated using the Statev coefficient, Z-score. The indicators that were used are extracted from both the Entities’ Balance Sheet and their Profit and Loss Account (on-line), while the modelling is carried out through the Excel statistical modelling.

16

Authors: Zanele L. MPABANGA, Wilfred Isioma UKPERE

Globalisation has been perceived as the integration and spread of information, processes and technology across organisations and nations. It has accelerated transformation and change in organisations, with the effect of strengthening or, as the case may be, weakening employment relations within organisations. Globalisation has been characterised by a rise in the use of casual employees, decentralisation and continuous advancement in technology, which ultimately affects employment relations. Therefore, this paper sets to explore the effects of globalisation on employment relations in South Africa’s film industry. The current investigation adopted a qualitative research approach, which was carried out in an organisation within the film industry in the city of Johannesburg, South Africa. Purposive sampling was used to collect data from ten employees at various levels in the organisation. Data was obtained by means of semi-structured face-to-face interviews with the research participants. The findings revealed that the effects of globalisation are twofold, as it has both positive and negative effects on organisations. From a positive perspective, it was found that globalisation has helped to promote inclusive workplaces, effectively manage tensions and conflict in the workplace, and improve communication between parties in the employment relationship. Furthermore, it was discovered that interactions between management and employees have increased since globalisation. Conversely, the current findings uncovered that there are increasing tensions in the employment relationship. There is also evidence of less training to workers in the film industry. The findings further revealed that using casual employees in the film industry has increased, and many of them are confronted with several challenges, as they do not get the same benefits that their counterparts in permanent employment receive. Hence, generally, this paper’s outcome could be used in organisations to address some of the negative effects of globalisation in respect of relationships in the workplace, particularly in the film industryg.

18

Authors: Tinashe R MUSHONGA, Wilfred Isioma UKPERE

The 21st century introduced several technological advancements, including artificial intelligence, and these technologies affected almost every industry in every country. Freight management services in Zimbabwe had also adapted to these technologies to keep abreast with global pressures. Hence, embarking on massive workforce re-engineering strategies and downsizing had been the most popular strategy. However, organisations have to deal with consequences of downsizing, and employee commitment as one of these consequences.

20

Authors: Augustine Ejededawe OSHO, Ibukun Felix ADEWOLE

The study examined the relationship between international transfer pricing and the performance of supranational companies in Nigeria. The study used secondary data from the Central Bank of Nigeria (CBN) Statistical Bulletin, the Federal Inland Revenue Service (FIRS), the World Bank Statistical Bulletin, and annual reports and accounts of the sampled multinational companies. The study used panel regression analysis. The results of the study showed that interest rates and import duties have a significant and positive effect on the performance of supranational corporations in Nigeria. The study further found that corporate income tax and exchange rate have a significant and negative impact on the performance of supranational corporations in Nigeria. Based on the results, the study concluded that international transfer pricing has a significant impact on the performance of supranational companies in Nigeria, particularly when international transfer pricing is measured using interest rates, exchange rates, corporate income taxes and import duties; while performance is measured by profit after tax. The study therefore recommended that supranational companies should develop a system to defend themselves against exchange rate and corporate taxes caused by unforeseen exchange rate movements and double taxation.

21

Authors: Haradhan Kumar MOHAJAN

In this paper the Cobb-Douglas production function is operated in a firm for the analysis of the cost minimization policies. In an economic world, gain of profit depends on the efficient use of raw materials and use of various techniques of the cost minimization. A firm’s main target is to make maximum profit. Scientific based and efficient but minimum cost procedures will favor in this regard. To increase local and global demands, a firm of course develop production sector. An attempt has been taken in this study to minimize cost by considering four inputs, such as capital, labor, raw material, and other inputs to form the economic model subject to a production constraint within the budget.

29

Authors: Wilfred Isioma UKPERE

Capitalism, as it is known is based on the concepts of competition, profit motive, private enterprises (self-interest) and scientific management. These key catalysts set the motion for capitalist expansion, exploration and exploitation. One notable area where capitalism has naturally done exceptionally well based on its characteristics, is within the domain of scientific management, which has spurred technological innovations as well as triggered techno-globalisation. In spite of several warning signs of the impact of techno-globalisation on the sustainability of labour, the world advanced into the 4th Industrial Revolutions, which is also driven by highly sophisticated technological advancements. The 4th IR has unique features, namely, smartphone takeover almost every aspect of business activity; knowledge generation is made possible through big data; robotics may likely replace many human routine activities in the workplace. The new trend will certainly lead to massive job losses as well as create new ones within the industry, which could have detriment effects for labour sustainability. However, some mechanisms have been postulated in this treatise to improve the status quo.

38

Authors: Godwin Emmanuel OYEDOKUN

This study sought and investigated the determinants of forensic accounting techniques. The data analysed in this study were gathered from both primary and secondary sources. The 120 respondents were purposively selected, which includes forensic accountants, fraud auditors, bankers, forensic investigators, finance enthusiasts, fraud investigators, and those in academia. The data for this study were gathered electronically using an online questionnaire through Google Form. The Google Form analysis was adopted. Secondary data were the existing data, established by seasoned professionals and academics. The data were presented through pie charts, bar chats, and descriptions. The study shows that the nature of fraud under investigation which includes the level of crime perpetrated, how much involved, stages, complexity, and who is involved are the determinant of techniques to be applied to fraud examination. Also, other factors such as criminal evidence, the expertise and experience of the examiner, organisational policies, and the risks involved determine what techniques to be applied to forensic investigations. Data mining emerged as the most appropriate technique for fraud investigation, however, the combination of two or more techniques is advised for forensic accountants, forensic legal practitioners, and all other similar parties. This study recommends the need for stakeholders to engage, recruit, and employ the services of a forensic accountant to review, strengthen, reappraise records and internal control systems on a routine basis. Organizations should train employees on the dynamics and scope of financial crimes, the legal environment, fraud prevention, and ethical issues.

7

Authors: Bianca RUSU, Lăcrămioara HURLOIU, Iulian HURLOIU, Marinela GEAMĂNU

In a business environment that constantly and rapidly changes, future prediction becomes more important than the simple visualization of historical or current perspectives. For effective future prediction, data analysis using statistical and predictive modelling techniques may be applied to enhance and support the organization’s business strategy. Therefore, the effective use of data is becoming the basis of competition. Big data fundamentally change the way businesses compete and operate. Companies that invest in and successfully derive value from their data have a distinct advantage over their competitors. This performance gap will continue to grow as more relevant data is generated and the technologies that enable faster, easier data analysis continue to develop.

10

Authors: Mariana IATAGAN, Raluca ZORZOLIU, Elena GURGU

Digitalization is fundamentally changing companies and other organizations, just as the business world has never seen before. Changes also take place on the financial and accounting side of a company. Future digital advancements are a necessity because providers use this type of systems. The use of new technologies in business management is expected especially in terms of document recognition, data exchange, receipt and payment transactions, communication, excel replacement, text recognition. Big Data is becoming an indispensable resource for many organizations. Digitalization is fundamentally changing companies and other organizations, just as the business world has never seen before. The term Big Data has evolved in a flash to take into account the rapidly expanding quantities of digital information systems that are generated, the hard work of creating that information that can be analyzed, and the actual use of that data as capital to increase efficiency, create and enable innovation, and improve decision-making.

11

Authors: Samuel C. UGOH, Kahinde Abiodun ISINKAYE, Wilfred I. UKPERE

This study adopted historical approach to political research and used secondary sources of information. This paper focuses on assessing financial challenges facing local governments in Nigeria. The study observed that insufficient allocation from the federation account, lack of effective revenue generation drive, mismanagement of funds, intrusion of the state government into local governments use of funds, amongst others are the major challenges confronting local governments. Nevertheless, if right strategies such as effective planning, accountability, transparency, curbing of financial mismanagement, sound business undertaking, increased fund allocation from federation account are adopted, local Government may be in better position to accelerate the pace of infrastructural development in Nigeria.

16

Authors: Dragoș Mihai UNGUREANU

Digitalisation has spread to every corner of our lives and transformed how we pay. In this new era, a digital euro would guarantee that citizens in the euro area can maintain costless access to a simple, universally accepted, safe and trusted means of payment. A digital euro would not replace cash, but rather complement it. The Eurosystem will continue to ensure the access to cash across the euro area. A digital euro would give an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion. It would support the digitalisation of the European economy and actively encourage innovation in retail payments.

17

Authors: Nevenka POPOVIC SEVIC, Milica SLIJEPCEVIC, Ivana RADOJEVIC

Over the last decade, new technological progress has enabled the researchers to use neuroscience not only for scientific but also for marketing studies, so they can explore, at the same time, conscious and unconscious drivers of consumer behaviour in real daily situations. Applying brain science to consumer behaviour, neuromarketing—a new innovative marketing research discipline—examines consumers’ response (sensory, motor, and cognitive) to advertising stimuli. This article focuses on three key areas: literature review, challenges and limitations of neuromarketing, and neuromarketing trends, with several concrete real-life examples in different business industries. Practical challenges and limitations within the neuromarketing research, such as ethics, accessibility, costs and timing, but also side effects, are discussed. At the end, this article emphasizes many practical implementations of neuromarketing in different business branches, with the adoption of academic and scientific neuroscience researches to commercial purposes.

18

Authors: Umid VALIZADA

Human life is like swimming against the current. If a person is not making an effort to move forward, the current will undoubtedly drag him further back at any moment. This is true for every area touched by human hands. In business life, institutions have to swim against the current, just like people. Today, digital transformation and its effects emerge as a topic that is discussed extensively in academia and practice and constitutes the business agenda of companies. The digital age changes not only the way of doing business, but also customer relations, service models, product styles and most of all, the perception of "talent". This rapid transformation in business strategies has led to the emergence of digital leaders with new and different skills in the short term. These leaders focus on different points than traditional leaders. The aim of this study is to examine the effects of the digital age on leadership theory, how the new leadership model is defined and the studies carried out in the relevant period in order to reveal its dimensions.

19

Authors: Rafiyat Bosede OLANIYI, Kayode Peter ABILORO, Niyi Oladipo OLANIYAN

This research studied the link between capital structure and financial performance of Nigerian manufacturers. It evaluated the nexus between total debt and financial performance of listed manufacturing companies in Nigeria, the nexus between equity and financial performance of listed manufacturing firms in Nigeria Stock Exchange. The study used ex-post-facto data to investigate variable relationships. Nigerian manufacturing firms were studied. The data was taken from the company's (2005-2020). Both descriptive and inferential statistics, such as Pearson correlation and panel regression, were used to examine the data. Return on equity, equity capital has a substantial influence on the performance of Nigerian manufacturing companies. 6.34 and 0.26 Total debt assessed by asset debt-to-equity ratio has no influence on stock market performance (p>0.6580). Sand return on equity has a positive significant influence on financial performance of Nigerian manufacturing firms by 6.331 (p = 0.0000.05) and 0.117 (p = 0.0070.05); long-term debt also has a positive significant effect. The study found that equity capital, total debt, and long-term debt have the potential to positively and significantly influence the financial performance of manufacturing firms in Nigeria, whereas short term debt has the potential to positively and insignificantly influence financial performance. Total asset has the potential to positively and significantly influence financial performance.

21

Authors: Roxana-Daniela PĂUN

Blockchain technology is becoming one of the most prominent trends in finance and digital innovation since the creation of the Internet. Blockchain technology makes data private, permanent and verifiable. Data and transaction logging is public, but encryption protects them from prying eyes and tampering. The architecture of the blockchain database and the associated protocols provide a solid foundation for creating new classes of applications. This is just the theory. In practice, however, blockchain technology has proven to be somewhat less miraculous. It is powerful and effective in a wide range of areas, but in addition to the well-publicized benefits of blockchain, experts have discovered a set of disadvantages of blockchain technology. That's why the Bitcoin blockchain is often referred to as the "open register" of Bitcoin. Experts around the world, with the exception of a few skeptics, see blockchain as a high-impact technology that has the potential to revolutionize the world of finance, gaming, entertainment and more. Starting from the analysis carried out by specialists in the field on their website, and from information on this technology, the present study brings some arguments to draw the attention of the more or less informed reader to the risks and dangers to which they are exposed and to whom this technology is applied in sensitive areas regarding the life, health, freedom and privacy of the citizens of this planet. Even if the role of this technology in some fields is undeniable, it must still be treated with great care from the perspective of respecting the fundamental rights and freedoms of human beings, the universal values that mankind has gained in centuries of human effort and sacrifice for current and future generations to evolve without repeating the mistakes of history. History makes fun of those who do not know it, repeating itself, said Nicola Iorga.

37

Authors: Creativity and Innovation in Public Relations, as an Important Tool in Assisting Managerial Decisions

In this study, we write regarding creativity and innovation in public relations, of which it is evident that we need as a necessary means in supporting managerial judgments. For us, creativity in public relations can be a new way to achieve a goal easier, more efficient and faster. It is evident that every client acknowledges creativity, but in frequent situations, it does not convert into evident cases or messages for a mass audience and then is not visible. We also discuss in our study the profile of a ingenious public relations professional, who must be: engaged, instructed, ambitious for performance, having logical knowledge, having malleable and decisive judgment, being an idealist. In this analysis we will make an investigation to show that ingenuity can appear in one of the subsequent positions at the corporate administration zone: either in planning (positioning, outlining) or implementation (technique, presentation information, knowledge).

6

Authors: Guliyeva GULAR

The study of consumer behavior is considered one of the most important tasks of any market entity. Practical experience shows that producers (sellers) are obliged to unambiguously define their market behavior in order to better understand their consumers, to meet their desires and aspirations in everyday trade relations. However, the breadth of firms and the diversity of markets do not allow most users of marketing tools to make direct contact with their customers. Therefore, business leaders are clearly trying to study the market behavior of consumers by spending more time and money. In order to withstand an aggressive competitive environment, businesses are looking for answers to a key question that is important: how do consumers react to the use of various attractive marketing tools. Of course, the study of people's role as consumers in trade operations as a process justifies the relevance of the chosen research.

8

Authors: Dragoș-Adrian IORGA

Regional Intermediate Body for Sectoral Operational Programme Human Resources Development Bucharest-Ilfov Region implements the 40Ready Interreg Europe project, “Strengthening SME capacity to engage in Industry 4.0”. Within this project, a research tool, a survey (“Industrial revolution 4.0 coming to our lives”), was developed and applied, designed to provide relevant information in the field of Industry 4.0 and also to provide thematic solutions (a new criterion to support SME digital competences through the Operational Programme Human Capital 2014-2020; a new evaluation criterion for the call “Digital competencies for SMEs’ employees”, designed to support the Managing Authority for OPHC in evaluation and, at the same time, to help SMEs acknowledge the main I4.0 domains to focus on their digitalisation path in general and specifically for developing employees’ digital competencies). This paper, the result of an exploratory research, aims to present the relevant characteristics, trends and potential solutions for improving the implementation of the Operational Programme Human Capital 2014-2020, a topic that generated the need to start and, implicitly, to operationalize such a study. Therefore, in the configuration of the research process, there were no strict rules.

8

Authors: Stefano AMODIO

The ability to carry out coordination tasks within the group is identified with the leading role of the group itself. If this ability manifests itself continuously, it is an indispensable premise for the attribution of leadership to the one who demonstrates and exercises it. Leadership is therefore a quality, a gift that is not only a factor of appreciation for the individual, but also a valuable resource for the group. It usually happens that one or more members of an organization find it important to engage in seeking some influence on other members; this means making attempts to exercise authority. If these attempts are successful and are repeated over time, they can actually confer leadership on the one who has been the protagonist. in whatever sector they operate, companies need to reap the benefits offered by leaders capable of generating the emotional resonance in the company that allows everyone to realize their aspirations and make their potentials concrete.

10

Authors: Melina ALLEGRO

Conflict is a divergence of opinions which, as such, generates an emotional alteration in turn arising from a clash of mutually antithetical views. (Bonfanti, 2011). I decided to start from this definition to emphasize how much, within a conflict situation, whether it be work or family, the factors in the field concern both the cultural aspect of a person and the emotional one. Speaking of conflict, therefore, without taking into account the socio-cultural substratum in which it has its roots, inevitably involves an emptying of those which are the fundamental ingredients of any type of relationship. As already mentioned in previous chapters, the socio-cultural transformations that have occurred in recent decades have led to a complete redefinition of the roles that men and women respectively cover during their lives. In fact, in the era of modernity, many of the roles that had been at the basis of society for decades were gradually overturned.

10

Authors: Bianca RUSU, Lăcrămioara HURLOIU, Iulian HURLOIU, Lucian ILINCUȚĂ

The control environment, which is largely determined by management policies and the operating style of the entity, is fundamental to the way the controls are carried out within an organisation. In order to obtain a full understanding of the control environment, the auditor should focus more on the high-level policies and practices of the audited entity and less on the detailed controls within individual operations. Professional scepticism is of great importance when assessing the control risk. The auditor must apply it when verifying how the internal controls, implemented by the management of the entity, have acted in the direction of reducing the specific inherent risks.

12

Authors: Aurelian-Virgil BĂLUȚĂ, Alexandru RADA

The paper has the following chapters: the need for a good result from the cost-benefit analysis, multi-disciplinary elements in the management of digitization projects, knowledge management in digitization projects, ethical issues – restrictions in digitization projects, natural opposition to change of organization. The use of cost-benefit analysis has the following moments of use: before its launch or choosing the option to carry out the project, if the need for a project for which there are several implementation options has been established by other methods. In digitization projects, one of the concepts used more and more is that of smart infrastructure. Recent management talks about the fact that systems are much more important now than before. One of the problems with current systems is connection. In the case of digitization projects, there are also components that aim only at acquiring the skills necessary for new technological systems or work procedures. In their case, there are many elements already established in the field of education. One of these is the relationship between the importance given to certain knowledge and its usefulness. The process of globalization has extended internationally the regulation of the ethics of certain professions, including in the field of ITC and project management in large companies. The professional ethics as restriction of digitization projects are applicable not only to multinational companies, but to all those operating in a global market. Staff confidence in the usefulness of digitization projects must aim for maximum capacity. Digitization can be conceived as a solution to increase the revenue of the companies as a financial source to motivate the staff.

14

Authors: Paolo CIONI

In the world of work, the presence of women has been a very stable phenomenon for years now. Some factors, such as: - the increasing level of education, - the progressive outsourcing of the national economy, - the diversification of employment contracts, have definitely favored an increase in the employed female population, which however still remains in a due minority compared to the figures regarding male employment. However, one factor outlines the importance of the presence of women in the labor market, and is that relating to female entrepreneurship, which has grown in recent years thanks above all to regulatory systems which, in fact, have progressively favored both its promotion and development. . However, this is a process that has not only affected Italy, but the entire sphere of the European Union, where it is estimated that almost a fifth of the annual GDP growth can be explained, in principle, precisely with the increase participation of women in the workforce. Although disparities continue to affect the employment market, the "gender segregation" element appears singular, with women concentrated in some types of employment and men, obviously, in others.

14

Authors: Elena ROBU

The set of phenomena related to recreational activities should be considered as a system, so that the object of study of recreational geography is the Territorial Recreational Systems (TRS). The main social function of TRS is to maximize the needs of the population in recreation, health, treatment and increasing physical and spiritual potential. TRS is an open system, it receives information, matter, energy from the external environment. TRS transmits to the external environment, mainly, information for the management of the supersystem and the so-called recreational information for the population (potentially aggregated by tourists) and, most important, it returns the tourists themselves - people after rest, healthy and spiritually enriched. Studying the models of development and functioning of the Territorial Recreational Systems (TRS) is inextricably linked to the problem of identifying the relationships between the individual elements of this system, such as tourists, natural complex, technical structures, service system) and between recreational and non-recreational systems (reinstallation) etc.

16

Authors: Mathew ADAGUNODO

The study assessed the effect of oil receipts and fuel subsidy payment on current account deficit in Nigeria and Venezuela. Data collected were analysed using trend analyses, unit root, cointegration techniques and Autoregressive Distributed Lag (ARDL). The result showed that estimated oil revenue had a negative and significant impact on current account deficit in the short- run in Nigeria ( and Venezuela ( . The estimated oil revenue had a negative and significant impact on current account deficit in the long-run in Nigeria and Venezuela ( . Fuel subsidies also had positive and significant long-run impact on current account gap in Nigeria ( ) and Venezuela . The study concluded that despite the positive contributions of oil receipts to the current account in the two countries, continues fuel subsidy payment would impose significant fiscal costs and undermine current account position in Venezuela much more than Nigeria.

16

Authors: Ayo Olatunbosun FALANA, Ademola Olalekan ADEDUN, Adeolu Oluwole FAMILOYE

The growth of an economy needs to have a great impact on the citizens of that economy and thus help reduce poverty which is one of the main purposes of the millennium development goals. Nigeria has one of the largest populations in Africa and regarded as wealthy in terms of natural resources but with high levels of poverty. The government in their effort applied many policies in eradicating poverty through many empowerment programmes. This study attempts to examine if the empowerment programmes implemented by the government really helped in reducing poverty with focus on the youth who are the future of the economy. Focus was laid on the Amnesty Programme implemented to empower the youth in the Niger-Delta, highlighting the financial commitment of the programme and challenges encountered. The study uses the qualitative research approach which was exploratory and descriptive in nature with information leading to deduction of conclusions derived from journals, books and previous papers. It was realized that the Amnesty programme has helped to prevent the militant youths from their bad deeds and succeeded in equipping them with technical training in various fields of endevour. It was also concluded that there has been a lavish expenditure on the programme but still encounter many challenges such as unpaid or irregular payment of allowances to beneficiaries, inappropriate training provision, and limited employment prospects and so on. The challenges hinder the achievement of the expected goals and thus do not yield any effective result in reducing poverty. The study recommends that The Federal government should provide funds to the beneficiaries of the programme to establish their own businesses or provide them with job opportunities since unemployment of the graduates can push them back to the creek.

18

Authors: Svetlana ANĐELIĆ, Goran RADIĆ, Nikola DRAGOVIĆ, Dušan UNKULOV

The article explains the critical concepts when using domain-led design as a software development approach. It presents what makes a domain-driven design, how that philosophy came about, the advantages and disadvantages, and when it is best to use it. All the necessary elements that are essential for software designed in this way to succeed, which together form a domain-driven design, are explained in detail. Particular emphasis is placed on the importance of domain-driven design in the case of software in projects with complicated business processes.

18

Authors: Stella Ogechukwu OKEZIE, Kelechi Vivian IKEJI, Caroline Chisara OGU, Emmanuela DURU

The study examined the effect of corporate social responsibility cost on sustainable growth of listed firms in Nigeria. The study adopts ex-post facto research design. Fourteen (14) out of the 56 listed manufacturing companies on the Nigerian stock exchange as at 2021 were selected for the study. Data was analyzed using panel regression and Autoregressive Distribution Lag (ARDL) model. Findings from the study reveal that, corporate social responsibility cost denoted as social responsibility cost and environmental cost has a long run relationship with sustainable growth of listed manufacturing firms in Nigeria as measured by the bounds test using the Wald statistics. Furthermore, the results also reveal short run relationship with a speed of adjustment to long run equilibrium at 77.95% significant at 5% level of significance. It is thus recommended that manufacturing firms should continue to invest in corporate social responsibility as this has a significant effect on their sustainability. Firms must sustain the current corporate social responsibility strategy and improve on ways to be cost efficient while still maintaining an effective corporate social responsibility strategy that will put the firms in good light with consideration to environmental responsiveness.

20

Authors: Oluwatoyin Olusola AKINTAYO, Iyiola Akindele AKOSILE

This study focused on the relationship between auditors’ independence and quality of audit report. To investigate this objective a survey research design was adopted to gather data from the respondents through the distribution of questionnaires to 120 respondents comprised of 12 auditors and 108 senior staff of the 12 randomly selected Deposit Money Banks (DMBs) in Nigeria. In addition, 120 copies of questionnaires were distributed to the respondents from which only 118 questionnaires were returned and used for the study. Both descriptive and inferential statistics of logit regression was adopted for the study. The result obtained from the regression analysis showed that there was a significant positive relationship between auditor independence and quality of audit report. This assertion was premised on the fact that the p-value of the LR-statistics computed for the test of 0.0000 was less than the critical value of 5%. It was concluded that auditor independence and quality of auditor report were sufficiently related. It was recommended that auditors should not interfering with the affair of its client in order not to erode its independence.

22

Authors: Elena GURGU, Milena ILIC, Sabyasachi RATH, Ioana-Andreea GURGU

In this paper we talk about creativity in public relations, that is clear that we need. For us, creativity in public relations can be a mean, a novel way to accomplish an objective more easily, more efficiently and more quickly. It is clear that every client appreciates creativity, but in many situations it does not translate into events or visible messages for a mass audience and then it is not visible. We also talk in our paper about the profile of a creative relationalist, that must be: involved, informed, avid after work, possessing theoretical knowledge, having flexible and positive thinking, being visionary. In this paper we will try to demonstrate that creativity can occur in one of the following situations: either in strategy (positioning, planning), or in execution (tactics, presentation materials, information).

24

Authors: Dorcas Adebola BABATUNDE

This study examined the impact of treasury single account (TSA) on public sector performance in Nigeria. Specifically, this study analyzed the effect of treasury single account on budget execution; accountability and cash management in Nigeria public sector. This study made use of primary data sourced from 300 randomly selected respondents from government parastatals, agencies and ministries across six southwest states in Nigeria. Data were collected with the use of structured questionnaire. Collated data were analyzed with the use of percentage/frequency count and ANOVA regression analysis. Result showed that TSA adoption exert significant positive effect of budget execution (0.794; p < 0.05); level of accountability (0.750, p < 0.05), and cash management (0.960, p < 0.05) in Nigeria public. The study therefore concluded that treasury single account has substantial positive impact on performance of Nigeria public sector. Hence this study recommends the need for government to strengthen guidelines for the full implementation of the policy so as to ensure long term sustenance of the policy across the country. In addition there is need for government to engage in objective public enlightenment about the importance of the policy. Government should also overhaul the capacity of the Federal Ministry of Finance and the CBN to cope with challenges associated with enforcement of the provisions of the TSA so as to further harness the benefit of centralize control of funds across the country.