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THE IMPORTANCE OF CORPORATE GOVERNANCE IN THE BANKING SYSTEM
Corporate governance plays an essential role in the stability and efficiency of the banking sector, ensuring transparency, risk management and protection of stakeholders' interests. This article analyzes the importance of corporate governance in banks, with a focus on international regulations and particularities in Romania and Europe. It highlights the benefits of effective governance, such as increased financial stability and improved economic performance, but also the risks of weak governance, such as loss of trust and vulnerability of banking institutions. It also outlines mechanisms for improving governance, including transparency, internal control and ESG integration. -
TOURIST DESTINATION GOVERNANCE AND THE STATE'S ROLE IN DESTINATION DEVELOPMENT
Tourism must be integrated into the unitary functional system of the economy. In a macroeconomic sense, organizing tourism activity implies the existence of an adequate framework, a sequence and connection of the components of this field of activity, so that they function optimally, as true engines of tourism. The government shapes the economic climate for the tourism industry, helps ensure the infrastructure and educational requirements for tourism, sets the legislation under which tourism operators operate and takes an active role in promotion and marketing. Every government must have a tourism policy at both national and local levels. Therefore, the state plays an essential role in tourism, providing the general legislative framework within the tourism industry operates, directly intervening in many aspects of the tourism system. -
CONTROL OF THE USE OF COMMUNITY FUNDS
Abstract. The purpose of the work is to present the control activity carried out by the competent bodies regarding funds of community origin, regardless of the priority axis and the main objectives pursued within it. On the other hand, emphasis is placed on the fight against irregularities and fraud that may occur in the practical use of these categories of funds. In the framework of the research carried out, it was aimed both to highlight the basic objectives of the control activity in the mentioned direction, but also the correlation that is established between these objectives and the effective achievement of the priority objectives established as a result of obtaining financing and co-financing from community funds. -
ANALYZING THE REGIONAL DISPARITIES IN ROMANIA USING THE GINI INDEX AND THE LORENZ CURVE
Tiberiu Cristian AVRAMESCU2023Abstract: Inequality has recently become a topic generating increased interest both in political debates and in the academic environment. The issue of regional inequalities is systematically approached by specialists to provide the decision-makers with data and relevant information about the trends in this field, the elements that influence the level and evolution of disparities and to facilitate the evaluation of the effectiveness of the development strategies. The Gini index is one of the standard methods used in empirical research to analyze the territorial inequalities. Initially used to highlight the inequality of people's incomes, it has become more and more used in the field of spatial analyses. -
BUCHAREST STOCK EXCHANGE INDICES
Abstract: The paper aims to present aspects regarding stock indices on the national capital market (Bucharest Stock Exchange, BVB). The pages of this article contain information on the importance of stock indices, the ways of forming the twelve stock indices, as well as the impact of the COVID-19 pandemic and the war in Ukraine on their evolution. -
USING THE BALANCED SCORECARD FOR THE PERFORMANCE MANAGEMENT OF STATE UNIVERSITIES IN ROMANIA
Marian TAICU; Claudia BURTESCU2023Performance is a widely debated concept in the literature, especially in the field of business. The performance of a public institution in general, and of an educational institution in particular, is much more difficult to quantify, mainly because of the specifics of the activity and the form of funding. Simply measuring performance is not enough to improve it, and the need arises to implement a performance management system. The Balanced Scorecard is widely used in Romania and has been implemented over the last two decades in both public institutions and companies. This paper aims to propose a Balanced Scorecard for the performance management of state universities in Romania. -
TAX TREATMENT OF MOBILITY ALLOWANCES
Marcela BENGESCU2023The purpose of this paper is to clarify is to clarify the transposition into practice of the aspects related to the application of the legal provisions regulating the tax treatment of the additional benefits granted according to the mobility clause. There are two categories of employees who benefit from additional benefits according to the mobility clause: the first category refers to drivers who carry out road transport activities according to Government Decision no. 38/2008 and the second category includes other mobile employees. In this paper, we will present the fiscal treatment of the additional benefits granted according to the mobility clause, in compliance with the provisions related to income tax of the nature of salaries and mandatory social contributions. -
ANALYSIS OF THE PERFORMANCE OF THE ROMANIAN FOOD INDUSTRY
Marian TAICU2024The food industry is among the oldest industrial branches and is of particular importance for the national economy due to the role it plays in ensuring the food security of the population. The food industry in Romania is characterized by diversity and a large number of economic agents. After integration into the European Union, the food industry in Romania has experienced a series of transformations imposed on the one hand by the high level of competition and on the other hand by strict regulations in the field. The paper aims to present an overview of the food industry in Romania and the analysis of the main indicators that reflect its performance. -
THE IMPACT OF ESG ON THE FINANCIAL PERFORMANCE OF IT COMPANIES
The digital economy is transforming the IT industry into a key driver of global sustainability, and the integration of ESG (Environmental, Social, Governance) criteria is becoming essential. This paper analyses the mechanisms through which ESG influences the financial performance of IT companies, demonstrating that strategies such as reducing energy consumption, promoting diversity and ethical governance contribute to increased profitability and financial stability. The results indicate a positive correlation between ESG scores and financial indicators of companies in this sector. -
CROSS-BORDER CHALANGES OF FINANCIAL CONTROL: AN INTERNATIONAL PERSPECTIVE
Mihaela-Iuliana DUMITRU; Diana Elena BRINZA2024The article explores the complexities and evolving dynamics of financial control in a globalized economic environment. It highlights how differences in regulatory frameworks, cultural approaches, and technological adoption across countries create significant obstacles for effective cross-border financial management. The study examines the impact of international regulations such as Basel III, IFRS, and EU directives on harmonizing financial control practices while addressing the challenges posed by jurisdictional inconsistencies and enforcement disparities. Additionally, the paper analyzes the role of advanced technologies, including artificial intelligence and blockchain, in overcoming these challenges by fostering transparency, real-time monitoring, and efficient cross-border coordination. Through a case study approach and a practical survey, the article provides insights into how multinational organizations navigate risks such as tax evasion, money laundering, and compliance gaps.In conclusion, the study emphasizes the need for enhanced international collaboration, standardized regulatory frameworks, and strategic integration of technology to improve the effectiveness of cross-border financial control. The findings offer valuable recommendations for policymakers, financial institutions, and corporate managers to address the growing complexity of financial oversight in an increasingly interconnected world. -
ANALYSIS OF THE EFFECT OF MONETARY POLICIES ON POSTPANDEMIC GLOBAL INFLATION
Florentina Cristina BÂLDAN; Marinela BARBULESCU; Alina HAGIU2024The COVID-19 pandemic brought unprecedented changes to the global economy, forcing central banks to adopt expansionary monetary policies to counter recession. However, these measures, together with disruptions in supply chains and rising demand, contributed to the acceleration of post-pandemic inflation. This article analyzes the effect of monetary policies on global inflation, comparing responses in developed and emerging economies, and proposes recommendations for sustainable inflation management. -
TRANSFORMING FINANCIAL CONTROL THROUGH ARTIFICIAL INTELLIGENCE: A MODERN APPROACH TO FINANCIAL OVERSIGHT AND ANALYSIS
Mihaela-Iuliana DUMITRU, Consuela DICU2024This study explores how artificial intelligence (AI) can revolutionize financial control, offering a modern approach to financial oversight and analysis. The use of AI in financial control enables the automation of repetitive processes, increases efficiency, and reduces human errors. The study highlights the benefits of employing advanced technologies, such as machine learning and predictive analytics, to improve the accuracy and speed with which financial risks and business opportunities are identified. It also discusses how AI can provide greater transparency and support strategic decision-making by delivering real-time financial insights. In conclusion, the study emphasizes the importance of adopting artificial intelligence to optimize financial control processes and enable more efficient and informed management of financial resources. -
ANALYSIS OF CIRCULAR ECONOMY IMPLEMENTATION IN THE TEXTILE SECTOR AND ITS IMPACT ON ECONOMIC AND ENVIRONMENTAL SUSTAINABILITY
Raquel Mercedes GARCÍA REVILLA; Alina HAGIU2024The circular economy is a sustainable alternative to the traditional linear model, especially in sectors with high environmental impacts such as the textile industry. This article analyzes the implementation of circular economy principles in the textile sector, assessing the associated benefits and challenges. By reducing waste, reusing materials and recycling fibers, the textile sector can make a significant contribution to conserving natural resources, reducing carbon emissions and improving economic efficiency. The study proposes practical recommendations for fully integrating the circular economy into the sector and highlights its impact on economic and environmental sustainability. -
PROFESSIONALISM AND INTEGRITY FUNDAMENTAL ELEMENTS OF ETHICS IN THE ACCOUNTING PROFESSION
This article aims to highlight the criteria of ethics in the accounting profession, the way in which they influence the attitude and results of the professional accountant. Ethics is the foundation of the attitude that results in the professional performance of accountants, the way they relate to the profession they practice and how they meet the highest standards of professionalism and performance, and on the other hand, to satisfy the requirements of the public interest. Achieving the objectives requires the fulfillment of some basic requirements: credibility, professionalism, service quality and trust. -
THE IMPACT OF BEHAVIORAL FINANCE ON INVESTMENT DECISIONS
The concept of a rational investor is defined as the fact that investing individuals act based on a more fixed and straightforward idea. There are experts in the field of psychology who conduct detailed research on this subject by examining the behavior of individuals investing in Traditional Finance Theories. As a result of psychologists' studies, it is revealed that individuals who invest have personal biases and tendencies in their investment decisions. In this study, the relationship between behavioral finance and the biases of investing individuals in their investment decisions was reviewed. -
PARTICIPATION BANKING AND INTEREST-FREE INVESTMENT INSTRUMENTS IN TÜRKIYE
Mehmet Emin TASYUREK; Nildag BASAK CEYLAN; Ayhan KAPUSUZOGLU2024In this study, the basic operating principles of participation banks, which have been operating in our country for more than thirty years and have been increasing their market share day by day, their fundamental and procedural differences from other banks, and the system that constitutes the investment processes of institutional and individual investors who cannot or do not want to utilise their savings in banking and capital market products and instruments due to interest sensitivity have been reviewed. -
AN ECONOMIC ANALYSIS OF THE ROMANIAN VINE AND WINE SECTOR
Maria Daniela BONDOC, Marian TAICU -
THE RELATIONSHIP BETWEEN COSTS AND PERFORMANCE IN THE ROMANIAN FREIGHT TRANSPORT BY ROAD SECTOR
The performance and costs of economic entities are widely debated topics in economic literature and practice. Controlling costs is the key to achieving the company's financial performance. The transport sector is vital for the economic development of any country. The issue of costs and the assessment of performance in this sector presents a series of specific characteristics that will be discussed in this paper. The paper contains an analysis of the main indicators reflecting the activity of enterprises operating in the freight transport by road sector in Romania and other former socialist countries, actually European Union members. -
NEUROSCIENCE INTEGRATION IN MARKETING: LEVERAGING BIOSENSORS FOR CONSUMER INSIGHTS AND ENHANCED CUSTOMER INTERACTIONS
This research investigates the potential contributions of neuroscience literature and techniques to marketing management, employing biosensors such as eye-tracking glasses, facial expression analysis, and galvanic skin response (GSR). By leveraging neuroscientific methods to understand consumer reactions to marketing stimuli, marketers can glean valuable insights to enhance their marketing strategies and optimize customer interactions. The study use a qualitative analysis and aims to bridge the gap between consumer neuroscience and traditional marketing practices, utilizing neuromarketing tools to decipher customer behavior. -
ECONOMIC CONSIDERATIONS ON THE POSTAL AND COURIER SECTOR IN ROMANIA
The analysis conducted in this paper covers the period 2019-2021 aiming to highlight the impact of the global crisis resulting from the Covid-19 pandemic and affecting postal and courier services in Romania. This is one of the sectors that, especially thanks to e-commerce, has seen increases in its activity. Particular details of the post and courier sector are presented, as well as its dynamics during the analyzed period, regarding the number of active companies, turnover, number of employees, and productivity. The main competitors in the sector (Top 10) are highlighted, which are ranked according to the turnover in the year 2021, and as far as the Romanian National Postal Company is concerned, which occupies the first position in this ranking or hierarchy, the main economic and financial performance indicators are presented. The analysis clearly shows a strong concentration of the sector, with the top 10 companies that provide postal and courier services securing nearly 70% of the total turnover of the sector in 2021. -
TRANSFORMING THE LANDSCAPE OF THE EMERGING ACCOUNTING PROFESSION AFTER ARTIFICIAL INTELLIGENCE (AI) DISRUPTION
Liza Alvia; Mahdiyyan Fadillah; Rinaldi Kartobi; Syartika Putri Hermalia; Rayhana Qurrota Aini; Dwi Nuryanti Kharisma2024The evolution of technology from the 4.0 to the 5.0 revolution poses a threat to their professions. According to KPMG’s 2018 data, Artificial Intelligence (AI) stands poised to replace accountants in the foreseeable future. The advent of AI brings about considerable disruption for emerging accountants. This study endeavours to explore the possibility of AI supplanting the accounting profession and the readiness of young accountants to face these threats. Employing a literature review method anchored in netnography, the research draws upon prior studies and online sources. The results show that AI The results show that AI is developing tremendously in various forms and provides smart alternatives in completing accountant tasks. The success of AI disruption is demonstrated by the extent of AI disruption in all areas of the accounting profession i.e. financial accounting, management accounting, and public accounting. Ultimately, this research contributes to fostering awareness to young accountants for being ready in facing AI disruption. -
THE IMPACT OF CRUDE OIL PRICE, POPULATION, EXPORTS AND INFLATION ON ECONOMIC GROWTH: EVIDENCE FROM IRAQ
Ismail KAVAZ; Araz Waleed HUSSEIN2024This study aims to examine the relationship between crude oil prices, population, exports, inflation, and economic growth in Iraq based on annual time series from 1997 to 2022. As it is well known, crude oil is one of the most important resources for energy production, transportation, and various industries. Moreover, this energy source has a critical importance in terms of the international trade. Therefore, the effects of crude oil in Iraq’s economy is analyzed in this study. To achieve the degree and magnitude of the parameters used in the models, the Ordinary Least Squares method and the Johansen cointegration test are utilized. According to the empirical results of the study, while crude oil prices, population, and exports have a positive impact on economic growth, inflation has a negative impact. Additionally, a long-term relationship is found between crude oil prices, population, exports, inflation, and economic growth.as a result of cointegration test with the VAR system. Based on these results, it can be said that sustainable oil producing is very crucial in Iraq. Since the government income of Iraq relies heavily on revenue generated from oil exports, the improving and regulation activities should be considered in the oil sector. On the other hand, as the oil is finite resource, the local policymakers need to focus on researching alternative sources for exports and research the ways to boost the country’s GDP. -
DIRECT AND INDIRECT EFFECT OF GLOBALIZATION ON ECONOMIC GROWTH IN INDONESIA
Qurrota Ayu NINDIEN; Arivina Ratih Yulihar TAHER; Asih MURWIATI; I Wayan SUPARTA; Neli AIDA2024Abstract. This study examines how path analysis of globalization variables can have a direct effect on economic growth. This study uses the Path Analysis method by reviewing the dynamic modeling between Economic Globalization (GEI), Social Globalization (SGI), Economic Cooperation (KEI), and Economic Growth (GDP) for the period 1970 to 2020 in Indonesia. World Bank and KOFGI ETH Zurich Switzerland publish this data. The results showed that in model (1), there was a direct and significant effect between the KEI variable and GEI of 0.792. Then, in the model (2), the F test or joint test between the GEI, KEI, and SGI variables to GDP has a direct and significant effect. Then, partially, GEI has an immediate and significant impact on GDP, and SGI has a direct and significant effect on GDP. GEI is an intermediary variable for KEI to lead to the path effect to GDP, and this is in accordance with the hypothesis that KEI has an indirect effect on GDP. -
THE EFFECT OF TAX AVOIDANCE AND DIVIDEND POLICY ON FIRM VALUE WITH MANAGERIAL OWNERSHIP AS A MODERATING VARIABLE
Mega METALIA; Dita Puspita Sari RAMDIAH2024The assessment of firm value is crucial because it reflects the company's performance, which can affect investor perceptions. Along with development, firm value can be influenced by applying financial management functions, such as tax avoidance and dividend policy. This study aims to obtain empirical evidence regarding the impact of tax avoidance and dividend policy on firm value, with managerial ownership as a moderating variable. This study uses a quantitative approach, with a population of companies listed on the Indonesia Stock Exchange during 2019-2022. Sampling was carried out using the purposive sampling method, so that 32 companies per year were obtained during 2019-2022, resulting in a total of 128 data. Statistical tests were carried out using moderated regression analysis. The research findings show that tax avoidance has a negative impact on firm value, while dividend policy has a positive impact on firm value. However, the managerial ownership variable has no significant effect in strengthening or weakening the relationship between tax avoidance and dividend policy on firm value. -
THE IMPACT OF JOB BURNOUT ON EMPLOYEES' PERFORMANCE
This study is proposed to examine the effects of job burnout on employees’ performance, job satisfaction, turnover intention, and employee engagement in the commercial industry in Istanbul/Turkey. Due to the consequences of job burnout, organizations need to observe factors that lead to burnout to avoid the impact of the job burnout on the performance of employees. Exploring the impact of job burnout phenomenon on employees’ performance was essential in organizations. The primary data was collected via Online Google forms which included 177 participants residing in Istanbul city. Data was collected based on virtual snowball sampling. Spearman correlation analysis was applied to primary data to investigate the job burnout’s impact on the previously mentioned variables. The results find that job burnout had a statistical influence on employee performance, job satisfaction, turnover intention, and employee engagement. According to our results and findings, a negative relationship was found between job burnout and the performance of employee, it was also found a negative relationship between job burnout and job satisfaction, a positive relationship between job burnout and turnover intention, and a negative relationship between job burnout and employee engagement. The conclusion of the research will assist organizations in understanding the causes of job burnout and considering any possible impact burnout may have on employee performance, job satisfaction, turnover intention, and employee engagement.
ISSN print: ISSN 2285 – 5912
ISSN online: ISSN-L 1584 – 4927
Editura: Artes
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