The Bucharest University of Economic Studies Abstracts
The 4th International Conference on Economics and Social Sciences Resilience and Economic Intelligence through Digitalization and Big Data Analytics
Edited by Alina Mihaela DIMA Vanesa Mădălina VARGAS
10-11 June 2021, Bucharest, Romania
2021 The Bucharest University of Economic Studies
© The Authors, 2021. All rights reserved. No reproduction, copy or transmission may be made without written permission from the individual authors and, if permission granted, paper should be cited accordingly.
Published by: Editura ASE
ISBN: 978-606-34-0383-5
Cover design: Marian Oancea Desktop Publishing: Titel Baldovin CONFERENCE PRESIDENT Nicolae ISTUDOR, Rector Bucharest University of Economic Studies, Romania CONFERENCE VICE-PRESIDENT Marius Constantin PROFIROIU,Vice-Rector Bucharest University of Economic Studies, Romania CONFERENCE MANAGER Alina Mihaela DIMA, Vice-Rector Bucharest University of Economic Studies, Romania SCIENTIFIC COMMITTEE Mirela ACELEANU, Bucharest University of Economic Studies, Romania Lucian ALBU, Academia Română, Romania Răzvan Cătălin DOBREA, Bucharest University of Economic Studies, Romania Javier ARROYO GALLARDO, Complutense University of Madrid, Spain Marcel AUSLOOS, Leicester University, United Kingdom Diego BEGALLI, University of Verona, Italy Francesco BELLINI, Sapienza University of Rome, Italy Ștefan BRATOSIN, Universite Montpellier 3, France André CABANIS, Universite Toulouse 1 Capitole, France Herbert CASTERAN, EM Strasbourg University, France Silvian CENȚIU, Retina Communications, San Francisco, USA Roy CERQUETI, Sapienza University of Rome, Italy Gilbert CHAVEZ, Globis University Tokyo, Japan Cristian CHELARIU,Suffolk University, USA Ionela COSTICĂ, Bucharest University of Economic Studies, Romania Michael COX, London School of Economics, England, United Kingdom Fabrizio D’ASCENZO, Sapienza University of Rome, Italy Marian DÂRDALĂ, Bucharest University of Economic Studies, Romania Carmen-Elena DOROBĂȚ, Manchester Metropolitan University Business School, United Kingdom Dan Gabriel DUMITRESCU, Bucharest University of Economic Studies, Romania Ovidiu DUMITRU, Bucharest University of Economic Studies, Romania Erich Walter FARKAS, University of Zurich, Switzerland Liliana FELEAGĂ, Bucharest University of Economic Studies, Romania Luis Miguel FONSECA, Polytechnic of Porto, Portugal Manuel GARCÍA-GOÑI, Universitad Complutense de Madrid, Spain Paolo GIUDICI, The University of Pavia, Italy Aleksandar GRUBOR, University of Novi Sad, Serbia Wolfgang Karl HÄRDLE, Humboldt University of Berlin, Germany Gheorghe HURDUZEU, Bucharest University of Economic Studies, Romania Nicolae ISTUDOR, Bucharest University of Economic Studies, Romania Kyoko KOKUSHO, IBM Tokyo, Japan Mariarosaria LOMBARDI, University of Foggia, Italy Babak MEHMANPAZIR, EM Strasbourg University, France Dumitru MIRON, Bucharest University of Economic Studies, Romania Anna Vadimovna NABIRUKHINA, Saint Petersburg State University, Russia Elvira NICA, Bucharest University of Economic Studies, Romania Peter NIJKAMP, Jeronimus Academy of Data Science, Den Bosch, Netherlands Maria Isabel NOVO CORTI, Universidade da Coruña, Spain Javier ORDÓÑEZ MONFORT, Jaume I University, Spain Roberto PANETTA, Bocconi University, Italy Dorel Mihai PARASCHIV, Bucharest University of Economic Studies, Romania Xose PICATOSTE, Universidad Autonoma de Madrid, Spain Grigore PIROȘCĂ, Bucharest University of Economic Studies, Romania Sébastien POINT,EM Strasbourg University, France Ion POPA, Bucharest University of Economic Studies, Romania Marius Constantin PROFIROIU,Bucharest University of Economic Studies, Romania Peter RICHMOND, Trinity College Dublin, Ireland, United Kingdom Roxana SÂRBU, Bucharest University of Economic Studies, Romania Slavica SINGER, J.J. Strossmayer University of Osijek, Croatia Ion SMEUREANU, Bucharest University of Economic Studies, Romania Tănase STAMULE, Bucharest University of Economic Studies, Romania Radu STATE, University of Luxembourg, Luxembourg Mirela STOIAN, Bucharest University of Economic Studies, Romania Vasile Alecsandru STRAT, Bucharest University of Economic Studies, Romania Donna STREET, University of Dayton, USA José Pedro TEIXEIRA DOMINGUES, University of Minho, Portugal Gabriela ȚIGU, Bucharest University of Economic Studies, Romania Carlos Ramirez VALDEBENITO, University of Chile, Santiago de Chile, Chile Călin Petrică VEGHEȘ, Bucharest University of Economic Studies, Romania Peter VERHOEF, University of Groningen, Netherlands Christine Katharina VOLKMANN,Schumpeter School of Business and Economics, Wuppertal, Germany Berend WIERENGA, Rotterdam School of Management, Netherlands Michael WOODS, University of Aberystwyth, Wales, United Kingdom Klaus F. ZIMMERMANN, Bonn University (em.) Global Labor Organization (president), Germany SESSION CHAIRS Nadia ALBU, Bucharest University of Economic Studies, Romania Diego BEGALLI, University of Verona, Italy André CABANIS, Université Toulouse 1 Capitole, France Emilia CÂMPEANU, Bucharest University of Economic Studies, Romania Silvian CENȚIU, Managing Partner Retina, Romania Roxana CLODNIȚCHI, Bucharest University of Economic Studies, Romania Adriana Ana Maria DAVIDESCU (ALEXANDRU), Bucharest University of Economic Studies, Bucharest, Romania Roberto DELL’ANNO, University of Salerno, Italy Alina Mihaela DIMA, Bucharest University of Economic Studies, Bucharest, Romania Carmen-Elena DOROBĂȚ, Manchester Metropolitan University Business School, United Kingdom Ionel DUMITRU, Bucharest University of Economic Studies, Romania Ovidiu Ioan DUMITRU, Bucharest University of Economic Studies, Bucharest Erich Walter FARKAS, University of Zurich, Switzerland Luis Miguel Ciravegna Martins FONSECA,Porto School of Engineering, Portugal Claudiu HERȚELIU, Bucharest University of Economic Studies, Romania Magdalena IORDACHE-PLATIS, University of Bucharest, Romania Mariarosaria LOMBARDI, University of Foggia, Italy Vincent MEYER, Université Côte d’Azur, France Radu MUȘETESCU, Bucharest University of Economic Studies, Romania Vasileios NTOUROS, National and Kapodistrian University of Athens, Greece Roberto PANETTA, Bocconi University, Milan Simona Roxana PĂTĂRLĂGEANU, Bucharest University of Economic Studies, Romania Cristian PĂUN,Bucharest University of Economic Studies, Romania Carmen PĂUNESCU, Bucharest University of Economic Studies, Bucharest, Romania Sebastien POINT,EM Strasbourg Business School, France Peter RICHMOND, Trinity College Dublin, Ireland Oana Matilda SABIE,Bucharest University of Economic Studies, Romania Cezar-Petre SIMION, Bucharest University of Economic Studies, Romania Mihaela Roberta STANEF-PUICĂ, Bucharest University of Economic Studies, Romania Vasile Alecsandru STRAT, Bucharest University of Economic Studies, Romania Donna L. STREET, University of Dayton, USA Gabriela ȚIGU, Bucharest University of Economic Studies, Romania Carlos Ramírez VALDEBENITO, Usach – Universidad de Santiago de Chile, Chile Christine VOLKMANN,Wuppertal University, Germany ORGANIZING COMMITTEE Nadia ALBU, Bucharest University of Economic Studies, Romania Emilia CÂMPEANU, Bucharest University of Economic Studies, Romania Roxana CLODNIȚCHI, Bucharest University of Economic Studies, Romania Adriana AnaMaria DAVIDESCU, Bucharest University of Economic Studies, Romania Alina Mihaela DIMA, Bucharest University of Economic Studies, Bucharest, Romania Ionel DUMITRU, Bucharest University of Economic Studies, Romania Magdalena IORDACHE-PLATIS, University of Bucharest, Romania Claudiu HERȚELIU, Bucharest University of Economic Studies, Romania Valentin LAZĂR,Bucharest University of Economic Studies, Romania Radu MUȘETESCU, Bucharest University of Economic Studies, Romania Simona Roxana PĂTĂRLĂGEANU, Bucharest University of Economic Studies, Romania Cristian Valeriu PĂUN,Bucharest University of Economic Studies, Romania Oana Matilda SABIE,Bucharest University of Economic Studies, Romania Cezar-Petre SIMION, Bucharest University of Economic Studies, Romania Roberta Mihaela STANEF-PUICĂ, Bucharest University of Economic Studies, Romania Olimpia STATE, Bucharest University of Economic Studies, Romania Gabriela ȚIGU, Bucharest University of Economic Studies, Romania Vanesa Mădălina VARGAS, Bucharest University of Economic Studies, Romania CONTENTS
GUEST SPEAKER: MIHAELA KELEMEN Building resilience through creative methodologies of research and engagement with fringe stakeholders in times of crisis...... 15 MINITRACK: RESILIENCE AND DIGITALIZATION ‐ KEY STRATEGIES FOR SUCCESSFUL BUSINESS IN CRITICAL TIMES MINITRACK CHAIRS: VINCENT MEYER, GABRIELA ȚIGU...... 16 Airlines’ Approach to Aviation Environmental Issues and Sustainable Development... 19 Did CSR Incentives Affect Employees’ Satisfaction?...... 20 Crypto-assets Regime in the European Area...... 21 Resilience and Recovery: The impact of COVID-19 on the Global Cruise Tourism...... 22 The impact of digitalization and industry 4.0 on business. ERP systems can be a solution for business?...... 23 The Impact of Covid-19 on E-commerce Use in Lebanon: A Quantitative Study...... 24 The Role of Innovation in Health-Medicines and the Sustainable Development while Increasing Health and Well-being...... 25 Building Resilience through the Use of Intelligent Technologies: A Qualitative Research...... 26 Digital Marketing Communication for Actual context of Romanian Modern Grocery Retailing...... 27 What Drives Profitability in the Romanian ICT Sector?...... 28 High-Tech Industries Performance in the European Union...... 29 Individual work valuation in a digital world – the case of personal token’s pricing...... 30 The impact of COVID-19 on entrepreneurs...... 31 The Accelerated Digitalization of Local Taxes and Fees Services – A Solution for the Budgetary Deficit during the Pandemic Period...... 32 Conceiving Resilient Solutions for Tourism during the COVID-19 Pandemic...... 33 Integration of Business Intelligence solutions in Economic Organizations...... 34 MINITRACK: GLOBAL WORLD AFTER CRISIS: TOWARDS A NEW ECONOMIC MODEL MINITRACK CHAIRS: CARMEN-ELENA DOROBĂȚ, RADU-CRISTIAN MUȘETESCU, CRISTIAN PĂUN...... 35 The role of foreign direct investments in Georgian economy: Statistical Analyses...... 39 Solutions for Post-Pandemic Economic Recovery: Case of China...... 40 COVID-19 crisis and international trade. Two selected country cases...... 41 Analysis of fluctuations of aggregate indicators and persistence of business cycles in the Caspian countries...... 42 Challenges of Modern Public Management from a Human Resources Perspective...... 43 Considerations Regarding the Management of Organizational Culture...... 44 Research on policies and mechanisms that can streamline the process of transition to green energy and achieving climate change-related targets...... 45 European Union financing for SMEs rethought in the scenario of a long-term pandemic...... 46 Some possible effects on trade of an EU carbon border adjustment mechanism...... 47 Empirical analysis on the impact of the Covid-19 pandemic on the real estate industry in Romania...... 48 Cost considerations and economic impact of cancer on labour markets...... 49 Paradigm shift, COVID-19 and tourism. Some sensitive correlations...... 50 Global economy in the COVID-19 era. The impact of the pandemic on the economic and financial systems...... 51 Constructivism and Competitive Intelligence, new economic model after Covid-19 Crisis...... 52 The reforms of EU’s Common Agriculture Policy - a never ending story...... 53 Research on data analysis (environmental, social and economic) in the context of implementing the circular economy...... 54 COVID 19 and fine art market...... 55 Anticipating the evolution of the healthcare during COVID-19 pandemic towards new normal and catalyst for economic recovery...... 56 COVID-19: towards a New Economic Order. How Romania was affected by the pandemic...... 57 MINITRACK: APPLIED ECONOMICS AND STATISTICS AND DATA SCIENCE MINITRACK CHAIRS: ADRIANA ANA MARIA DAVIDESCU, ROBERTO DELL’ANNO...... 58 A Real Data-Driven Clustering Approach for Countries based on Happiness Score...... 61 The utilization of linear simple and multiple regression model in macroeconomic analysis...... 62 Is Trust a Valid Indicator of Tax Compliance Behaviour? A Study on Taxpayers’ Public Perception Using Sentiment Analysis Tools...... 63 Migration – After a Year of COVID-19...... 64 Bertrand Competition Under Incomplete Information...... 65 Impact of Data Science, Big Data, Forecasting, Predictive Analytics over Business System’s Efficiency...... 66 The Quality of Education in Terms of Social and Economic Development...... 67 The impact of Covid-19 on the dynamics of metro transport in Bucharest...... 68 Income Inequality Shift Paradigm. From Economic Approach to Sharing responsibilities...... 69 Could Religiosity and Religion Influence the Tax Morale of Individuals? An Empirical Analysis based on Variable Selection Methods using the EVS/WVS 2017-2020...... 70 The evolution of inflation in the context of the Covid-19 pandemic...... 71 Comparative Analysis on Different Methods to Measure Welfare Beyond GDP for Romania...... 72 The impact of FDI on economic growth in case of Romania...... 73 Microfinance, Competition and Growth...... 74 Foreign versus local ownership and performance in the European Union: A Random Forest Approach...... 76 Machine learning in Electricity fraud detection in smart grids with multivariate Gaussian distribution...... 77 Characteristics of The Romanian Electricity Market...... 78 The influence of the Independent Non-Executive Board Members on the financial performance of the companies listed in the Bucharest Stock Exchange...... 79 The history of Romania through its censuses. Milestones, data and current challenges in the digital age...... 80 MINITRACK: UNIVERSITIES AND COMMUNITY IMPACT MINITRACK CHAIRS: MAGDALENA IORDACHE-PLATIS, VASILEIOS NTOUROS...... 81 Media Literacy Education and Digital Transformation. New challenges for civic universities...... 84 Empowering Students to Save Energy Through a Behavioural Change Campaign in University Accommodation...... 85 Organizational diversity, job performance and the mediating role of job satisfaction and employee commitment: A conceptual framework...... 86 Artificial Intelligence in Greek Educational System...... 87 Civic University Challenges in Romanian Higher Education: Students’ Perceptions on Civic Engagement...... 88 Political correctness in higher education – hindrance or boost to the creative process?...... 89 Internationalisation of Higher Education: A View from the Bucharest University of Economic Studies...... 90 Internationalisation of Higher Education - Overview of Recent Developments...... 91 Civic Universities and Their Impact on Green Infrastructure Governance in Cities: A Principles-Based Framework for Human Well-Being...... 92 COVID-19 Impact on International Migration...... 93 Urban Natural Areas, from Nature Conservation to Well-being Assets...... 94 The mediating role of the students’ ability to adapt to online activities between perceived university culture and academic performance...... 95 Academic journals’ performance – opportunities for research visibility...... 96 Higher Education and Its Role for National Development...... 97 MINITRACK: GLOBAL CHALLENGES FOR AGRI-FOOD SYSTEMS AND SUSTAINABLE DEVELOPMENT MINITRACK CHAIRS: MARIAROSARIA LOMBARDI, DIEGO BEGALLI, SIMONA ROXANA PĂTĂRLĂGEANU...... 98 Sustainable Development Disparities in the EU-27 Based on R&D and Innovation Factors...... 103 A Hierarchical Pyramid for Food Waste Based on a Social Innovation Perspective..... 104 The Lack of Competitiveness of Agricultural Subsidies Granted by the Common Agricultural Policy...... 105 Treatment of biodiversity in the European current context...... 106 Sustainable Development of the Agricultural Sector. Case study: The Romanian Wine Sector and The Romanian Organic Agricultural Sector...... 107 The Impact of Covid-19 On Food Prices in Romania...... 108 Local Action Groups implications in rural Romania...... 109 The Need for Blockchain Technology in Agriculture: Opportunities and Challenges... 110 Sustainable development of a PDO or PGI from the voluntary scheme „traditional product”...... 111 Risk Management of Agri-food Value Chains – Exploring Research Trends from the Web of Science...... 112 Romania’s agro-food sector: issues of cluster development and competitive Positioning...... 113 MINITRACK: FINANCIAL PERSPECTIVES IN TURBULENT TIMES MINITRACK CHAIRS: ERICH WALTER FARKAS, EMILIA CÂMPEANU...... 114 Economic sentiment perceptions during COVID-19 pandemic ‒ a European cross-country impact assessment...... 117 The impact of COVID-19 on activities of banks: Evidence for Bulgaria...... 118 Detecting Anomalies in Systemic Risk Measures...... 119 Lucky trading rules...... 120 The impact of fiscal freedom, government effectiveness and human development index on VAT GAP in European Union level...... 121 Fiscal pressure in Romania and the influence of value added tax...... 122 Is the Digitization of Tax Institutions a Solution for Voluntary Tax Compliance?...... 123 Determinants of Economic Growth for the European Union Countries...... 124 Risk aversion, financial literacy, and investment choice: Evidence from a survey among the Romanian students...... 125 Non financial performance of energy companies listed on Bucharest Stock Exchange and relevance for stakeholders...... 126 Effects of the SARS-CoV2 Pandemic on the Romanian Labour Market...... 127 Cryptocurrencies and tax evasion a comparative approach...... 128 The European Union’s struggle with the profit transfer via tax havens...... 129 Consequences of Exits from Political Unions on Dividend Policy: The Case of Ethiopian Split...... 130 MINITRACK: ECONOMIC POLICIES FOR NON‐CYCLICAL CRISES MINITRACK CHAIRS: MIHAELA ROBERTA STANEF‐PUICĂ, CARLOS RAMÍREZ VALDEBENITO...... 131 A pilot study on designing efficient retention policies based on economics students’ migration incentives...... 135 Fiscal consolidation in Romania in the wake of the COVID-19 pandemic: how much and how fast?...... 136 Crisis Management in High-Category Hotels in Serbia During Covid-19 Pandemic...... 137 Creative and Cultural Sectors during the Covid-19 Pandemic...... 138 Could agile project management work in the public sector? A pilot-study on the innovation level and organizational agility of local public administration in the North-East area of Romania...... 139 The Economics of Labor Market after the pandemic. The future of employment 2021-2030...... 140 Alternative Unemployment Rates in Romania...... 141 Restarting COVID-19 Economies...... 142 Structural Organization of the Company and Methods of Improvement. Case study: S.C. Lactate Natura S.A...... 143 Digitalisation and Competition in the European Union...... 144 Economic Policies for the Revival of the Romanian Economy...... 145 Islamic banking – a doctrinal approach on economies of Middle East...... 146 A Survey of the Effect of Government Efforts in Meeting COVID-19 Challenges on Tax Morale of Nigerians...... 147 MINITRACK: INNOVATIVE TECHNOPRENEURSHIP AND SUSTAINABLE BUSINESS MODELS MINITRACK CHAIRS: ROXANA CLODNIȚCHI, LUIS MIGUEL CIRAVEGNA MARTINS DA FONSECA GUEST SPEAKER: CHRISTINE VOLKMANN...... 148 The context of digital entrepreneurship. New technologies between evolution and revolution...... 152 The mediating role of customer knowledge management in the innovative work behaviour and product innovation relationship...... 153 COVID-19 Pandemic and future business’ prospects: A conceptual study...... 154 Needs for Remodeling the Entrepreneurship Education in the Post-COVID-19 era.... 155 Clusters and Dark Side Alleviation...... 156 The Evolution of Innovative Entrepreneurship Indicators in Europe. Implications for the Labor Market...... 157 Predicting Entrepreneurial and Crowdfunding Intentions through the Theory of Planned Behaviour and the Role of Entrepreneurship Education - A Study of Romania and South Korea...... 158 The impact of awareness campaigns on combating consumers’ food wasting behaviour...... 159 Sustainable fashion: Food waste turned into fibers...... 160 The role of Dynamic Capabilities and Digitalisation in achieving Economic Intelligence. The case of Huawei’s success...... 161 Demand response solutions for changing the energy patterns of the consumers and for promotion of renewable energy sources...... 162 The evolution of the digital public services in Romania between 2011-2021...... 163 The mediating role of entrepreneurial leadership between perceived organisational culture and engagement...... 164 The impact of national policy on entrepreneurship: A perspective from entrepreneurs in Vietnam...... 165 MINITRACK: MARKETING AND SUSTAINABILITY MINITRACK CHAIRS: SILVIAN CENȚIU, IONEL DUMITRU...... 166 The importance of the family brand...... 169 Viral Marketing and Its Influence on Customer’s Purchasing Decisions: A Quantitative Study in Lebanon...... 170 Reshaping the operating models, people practices and customer interactions for a sustainable business...... 171 The Importance of Tools Specific Mobile Networks and Social Online Networks for Start-Ups in Bucharest...... 172 Awareness of the endogenous factors influence purchasing and consumption decisions...... 173 Factors affecting consumers’ attitude and intentions towards online events during the COVID-19 pandemic...... 174 Some Considerations Regarding Integrating Corporate Social Responsibility in the Marketing Strategy of Banking Institutions...... 175 Feasibility study for the opening of a dental medicine clinic...... 176 MINITRACK: THE ROLE OF INNOVATION IN PUBLIC AND PRIVATE ORGANIZATIONS IN CONTEXT OF DIGITAL TRANSFORMATION MINITRACK CHAIRS: ANDRÉ CABANIS, CEZAR-PETRE SIMION, OANA MATILDA SABIE...... 177 E-Government and the General Population’s Digital Skills in European Union and OECD Member States...... 181 The Perspective of the Development of the Industry of the Future in Romania in the Context of Big Data and Digitalization...... 182 Evaluation of corporate social responsibility level of Ukrainian nuclear energy producers...... 183 A bibliometric review on the drivers of enhancing reputational risk management...... 184 Maintaining economic macrostability in the conditions of developing the smart economy through digitalization and other modern forms...... 185 The Art of Product Management - a Practical Guide for Product Value Maximization...... 186 Use of the computer system for monitoring turnout and preventing illegal voting in the 2020 local and parliamentary elections...... 187 Legal risk in the context of artificial intelligence use...... 188 Challenges of Civic Participation at EU – level during COVID-19 Pandemic: European Citizens’ Initiative...... 189 MINITRACK: BUSINESS LAW AND SUSTAINABLE DEVELOPMENT MINITRACK CHAIRS: OVIDIU IOAN DUMITRU, ROBERTO PANETTA...... 190 Personal Data between Individual Protection and the General Interest...... 193 The new direction of the EU: The creation of a digital Europe...... 194 The interplay between artificial intelligence and intellectual property in a digitalised society...... 195 Some considerations of Romanian legal framework on online sale of OTC medicine. Coordination or contradiction to European legislation?...... 196 Human resource management strategies in light of globalization...... 197 Voucher based work - as an innovative form of employment...... 198 International economic sanctions and their impact on sustainable development...... 199 The Romanian NGOs and the sustainable development...... 200 Reflections Regarding the Rule of Law and Human Rights during States of Emergency...... 201 MINITRACK: THE ROLE OF ACCOUNTING IN SUSTAINABLE DEVELOPMENT MINITRACK CHAIRS: DONNA L. STREET, NADIA ALBU...... 202 Digitalization in accounting: A Structured Literature Review...... 205 Interdependence between ERP and Human capital in obtaining smart data...... 206 Blockchains and tax compliance - a methodological approach...... 207 Non-financial reporting in Romania - from legislative aspects to practical application...... 208 WORKSHOP: BRANDING AND TRAINING TALENTED RESEARCHERS FOR NEW ENTREPRENEURIAL AND DIGITAL SOCIETY MINITRACK CHAIRS: SEBASTIEN POINT, ALINA MIHAELA DIMA, CARMEN PĂUNESCU...... 209 Positioning Business Incubators in Regional Innovation Ecosystems...... 214 A Tiered Digitalization Framework for Innovation and Sustainable Business Growth...... 215 Analyzing entrepreneurship within the digitalization and Industry 4.0 context...... 216 Talent management and Leadership: post-crisis scenarios...... 217 GUEST SPEAKER
Mihaela KELEMEN Nottingham University Business School, UK
Mihaela Kelemen is Chair in Business and Society at Nottingham University Business School, UK. Prior to joining Nottingham University, she has taught and researched at Keele University, UK for 23 years, as Professor of Management and Public Engagement (since 2006) and as Director of its Community Animation and Social Innovation Centre (CASIC). She holds doctoral degrees from Oxford University and the Academy of Economic Studies, Bucharest. Her research employs participatory creative methodologies of stakeholder engagement and knowledge co-production to explore a wide range of business and society topics suchas market-place exclusion, food poverty, rural health, volunteering, artisanal mining, sustainability and post disaster reconstruction. Her projects put centre stage the experiences and aspirations of various fringe stakeholders from the UK, Japan, the Philippines and Kenya. Findings have been disseminated not only via academic publications but also through documentary dramas, virtual games, digital toolkits and community-based exhibitions curated jointly with the award-winning New Vic Borderlines. She is a member of the UKRI Future Leaders Fellowships Peer Review College and of the AHRC Peer Review College.
14 2021 Keynote speech: Building resilience through creative methodologies of research and engagement with fringe stakeholders in times of crisis
Creative methodologies of knowledge co-production and stakeholder engagement provide rich insights into how marginalised individuals and groups cope with various types of crises and build resilience. My recent research projects document grassroots forms of resilience building, covering a broad range of topics such as disaster recovery, food poverty, market place exclusion, in partnership with the New Vic Theatre from Staffordshire UK, I developed healthan arts-based inequalities methodology and vulnerable of knowledge workers in conflictcoproduction affected and areas. community Working engagement entitled ‘Cultural Animation’ (Kelemen, Surman and Dikomits, 2018) which has been used in the UK, Japan, Kenya, Greece, the Philippines and Canada. This creative and participatory methodology encourages and values a multitude of ‘ways of knowing’ and expression, and creates a trusting environment in which hierarchies are dissolved and marginalised voices can be heard. Prior to the pandemic, the methodology was embodied and the digital
(as can be seen in the co-design of a virtual community game about health and playedthe co-creation only a secondary of electroacoustic role, typically musical in communicating documentaries the about research food findingspoverty in the UK). The COVID pandemic represented a challenge for conducting connect with participants at a distance, in the same spirit of mutual respect and embodiedinclusivity. participatoryAs part of a Globalresearch Challenge as well asResearch an opportunity Fund Project to find entitled: new ways ‘I am to we created a Cultural Animation digital app and training package that gives mydevelopmental dignity’: Women’s actors, rightsincluding in fragile businesses, contexts based (https://mcatnottingham.org/), in Mindanao, Philippines, the opportunity to engage with and give voice and agency to vulnerable women from this area. This online platform ensured the scaling up of Cultural Animation by providing effective digital tools for fringe stakeholder engagement and for the co-production of knowledge with some of the most marginalised individuals in the world, which can be adapted and adopted more widely by both researchers and community ‘engagers’.
2021 15 Minitrack: Resilience and Digitalization ‐ key strategies for successful Business in critical times Minitrack Chairs: Vincent MEYER, Gabriela ȚIGU
The recent economic and social changes caused by the crisis generated by the new coronavirus demonstrate the adaptability of the business environment to radical and sudden changes. Some companies adapt harder or leave the market, but others reinvent themselves quickly, through managerial strategies often adopted along the way. Is this a sustainable development model? Or should such situations be better anticipated and prepared?
Whilebusiness governments models, rethinking and international their personnel institutions policy are and looking even repositioning for solutions tothemselves support companies,in the new ecosystem. workers and Even communities, CSR takes on firms new needdimensions. to identify new On the other hand, current global developments have shown, once more, that sustainability must remain the key of development, and all kinds of resources must be rationally consumed. Is it a historical moment in the business world and in the companies’ behaviour? Is this a fresh start for tourism? The main topics covered by the hereby call for papers are related to: • Building business resilience • The impact of digitalization and industry 4.0 on business • Strategies for building long-term community resilience • Building business resilience in times of crisis through entrepreneurship and innovation • Resilience strategies for managing structural changes • Business resilience systems and methods • Developing resilient tourism communities through digitalization • Planning slow resilience within a tourism community context • The identity of tourism history and community resilience worldwide • Change, globalization and resilience in tourism
16 2021 Vincent Meyer is a sociologist, university professor in information and communication sciences at the Université Côte d’Azur and researcher at the Transitions laboratory attached to the Mediterranean Institute for Risk, the Environment and Sustainable Development (IMREDD ). His areas of research are information and communication practices in and for public action and various professional circles via digital technologies. In doing so, he studies: prevention and / or awareness campaigns for various causes, fundraising operations, digital mediation in public and social policies, from intercultural and international perspectives; the development of public and territorial communications: information to citizens, territorial marketing, dematerialization of public services and e‐ administration of territories, socio‐ecological transition and enhancement of natural, material and immaterial heritage.
2021 17 Gabriela Țigu, professor Ph.D., is the Dean of Business and Tourism Faculty within the Bucharest University of Economic Studies, and a member of Tourism and Geography Department. With an experience in academia but also in tourism practice for about 30 years, Gabriela Tigu carries out both teaching and research activities in areas of expertise such as: Management of tourism destinations, Sustainable tourism, Management of operations in tourism, Business ethics, Human resource management in tourism. She is an author of 22 published books, more than 150 articles and scientific papers, as well as 33 national and international research contracts; as a visiting professor she was involved into didactic activities and doctoral boards as well within universities from France, Spain, Sweden, Turkey, Cyprus and Italy. She is also a scientific Ph.D. supervisor of doctoral thesis in the field of Business Administration. Since 2017, she is the director of the postgraduate program “Strategic Hospitality Management”, organized in partnership by the Bucharest University of Economic Studies and École Hôtelière de Lausanne, Switzerland, the best hotel school in the world, according to recent international rankings. Gabriela Tigu is also a tourism journalist and vice‐president of the FIJET Romania Tourism Press Club, member of the Advisory Committee of the Romanian Competition Council, member of the board of the Academic Association for Research in Tourism and Services CACTUS, member of the World Committee on Tourism Ethics, within the World Tourism Organization.
18 2021 Airlines’ Approach to Aviation Environmental Issues and Sustainable Development Vera AMICARELLI University of Bari Aldo Moro, Bari, Italy Giovanni LAGIOIA University of Bari Aldo Moro, Bari, Italy Antonio PATRUNO Italian Air Force, 2nd Technical Communication Unit, Bari, Italy Raluca Mariana GROSU Bucharest University of Economic Studies, Bucharest, Romania Christian BUX University of Bari Aldo Moro, Bari, Italy
Abstract: Based on a systematic analysis of 62 air carriers, the present paper outlines their perception toward aviation-related environmental issues, sustainable aviation fuel efficiency and sustainable development strategies, withaviation’s reference environmental to companies consequences, operating in publishing Karol Wojtyła environmental Airport (Bari, reports Italy). Itand results encouraging that traditional their passengers airlines towards (flag carrier a more and environmentally not) are more conscious aware of behaviour. Furthermore, South American and North American companies are more likely to promote the use of aviation bio-jet-fuels. At the opposite pole, information through environmental reports and are scarcely intentioned airlinesto make transiting use of bio-jet-fuels. the Karol Wojtyła This outcome Airport showis strongly a slight related willingness with theto share high rate of low-cost companies transiting the airport, less attentive to aviation environmental issues.
Keywords: Sustainable tourism, aviation, environmental protection, airlines’ behaviour.
2021 19 Did CSR Incentives Affect Employees’ Satisfaction? Lakiss NOUR Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The current paper extends empirically the CSR literature by investigating the linkage between CSR and job satisfaction and employees’ retention. Besides, the paper cites the impact of Covid-19 pandemic on the employment industry. The pandemic has seen many employees’ working contracts terminated, suspended or even forced to survive on half salary. In addition, the research paper tries to depict how companies are struggling to
The onset of the pandemic affected the employees at both work places and retain their high performing employees without stretching on their finances. homes.to stay despiteThe companies the suspended find themselves employment struggling contract. to Dataconvince was thecollected employees from to stay on half salaries. The paper finally highlights the employee’s intention different industries during the pandemic situation. The results showed that 500 questionnaires filled by employees working in Romanian companies from reveal some important actions about how to boost employees’ satisfaction employees’through CSR satisfaction practices. Directions was positively for future influenced research by CSR are initiatives. discussed. The findings
Keywords: Corporate social responsibility, job satisfaction, organizational performance, employee.
20 2021 Crypto-assets Regime in the European Area Raluca MICU Bucharest University of Economic Studies, Bucharest, Romania Dalina DUMITRESCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Crypto-assets are one of the major applications of blockchain in the last 10 years, examining the opportunities and challenges raised by these technologytype of assets. in finance Central and banks they have capture stated the that attention the use of ofthe crypto-assets European authorities remains assets remained unregulated at the European level. Following a big surge in modestthe market in size capitalization and do not of pose crypto-assets a threat to startingfinancial 2015, stability, national so these authorities type of implemented a bespoke regime to cover crypto-assets, in other member havestates decided they remain to take unregulated. action at national This paper level. aim While is tosome present member a full states picture have of the European context with regard to crypto-assets and the approach taken by member states in order to mitigate the risks related to crypto-assets. The information was collected from the available sources in every jurisdiction of the member states. The research was realized by using qualitative analysis and the legislative solutions to regulate crypto assets and create an EU framework that thematicboth enables analysis. markets We inwill crypto-assets present in this as wellpaper as thethe firsttokenization attempts of to traditional introduce uniform conditions for crypto-assets will provide the legal certainty necessary financialto promote services. innovation The main within conclusion the crypto-asset is that a commonmarket asEU well framework as ensuring with
Keywordmarket integrity: crypto-assets, and financial crypto-currencies, stability. regulation on crypto-assets, implication of crypto assets, taxation regime for crypto-assets.
2021 21 Resilience and Recovery: The impact of COVID-19 on the Global Cruise Tourism Carmen Florentina VLĂSCEANU Bucharest University of Economic Studies, Bucharest, Romania Gabriela ȚIGU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: towards recovery and its resilience to the short and long-term effects generated by the globalThis pandemic article examines crisis. theThe scientific paper also approach discusses of cruising aspects industry’s pertaining path to the actual state of the industry and the economic impact of the suspension of cruise operations for the past year. The methodology focuses on reviewing the industry’s response to the unprecedented events, analyze the business strategies and closely observe how the major cruise operators position their brands and work towards future regeneration. Considering that cruises were for the past two decades the fastest growing sector of the global travel industry it is important to consider the consequences the crisis had on the cruise companies supply and value chains. The article provides a descriptive observation based on the developments within the cruising sector in terms of theory and practice underlining the counteractive measures recently adopted in order to improve the risk mitigation strategies and enhance their decision-making processes in the current unpredictable circumstances. Conclusions are drawn resulting from examining the impact of COVID-19 and the industry’s response to the pressure conditions within the current transformational global business context. of a series of influential factors and market determinants under uncertainty Keywords: global business context, business performance, sustainable business practices, uncertainty conditions, business resilience.
22 2021 The impact of digitalization and industry 4.0 on business. ERP systems can be a solution for business? Laura‐Eugenia‐Lavinia BARNA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The progress of the digitalization of the industry has motivated companies to increase investments in solutions and tools that allow the automation of processes so that they can develop and improve their performance. The impact of the digitalization concept on the business has become a very special topic for most companies that want to automate their processes and to have a sustainable business. The progress of the economic and IT environment has led to the emergence of digital transformation, which has an impact on the expectations and behavior of companies. The aim of this paper is to observe the impact of digitalization and industry 4.0 on business, thus observing whether ERP systems are a solution for business. The research method used was the concepts of digitization and industry 4.0, the advantages and disadvantages of systematicindustry 4.0, review but also of to the demonstrate literature. that The ERP selected systems articles are the aim best to solution define thefor process automation for a company. The results showed that digitalization and industry 4.0 have a positive impact on the performance and sustainability of companies if they implement an ERP system within the company. In conclusion,
KeywordsERP systems have a benefic role for a company.
: ERP systems, digitalization, industry 4.0, flexibility, creativity.
2021 23 The Impact of Covid-19 on E-commerce Use in Lebanon: A Quantitative Study Layal HAMADE Bucharest University of Economic Studies, Bucharest, Romania
Abstract: COVID-19 pandemic has changed business trends dramatically especially with increased quarantine periods and limited transportation. In addition, the developments in information technology, mainly the Internet, led to increased interest in studying e-commerce whether applicable through PCs or mobile devices. The aim of this article was to investigate how COVID-19 pandemic affected e-commerce usage in Lebanon. The method used was quantitative where an online survey was distributed on a sample size of 400 customers. The results showed that during COVID-19 consumers increased the presence to conduct their business especially when long quarantine duration usewas ofapplicable. e-commerce In addition,as companies/stores with COVID-19 were pandemic, more dependent customers on theirwere online using more local websites and social media platforms to purchase food products and on delivery payments. they were satisfied with the quality, service provided, communication, and cash Keywords: COVID-19, e-commerce, Lebanon, online, payment, product.
24 2021 The Role of Innovation in Health-Medicines and the Sustainable Development while Increasing Health and Well-being Georgiana Beatrice GHEORGHE (COȘOVEANU) Bucharest University of Economic Studies, Bucharest, Romania
Abstract: in health” includes new or improved health policies, practices, systems, medicines Accordingand technologies, to the Worldservices Health and Organizationdelivery methods (WHO) that “innovation lead to improved health and well-being of the population. It aims to add value in the or affordability. Investing in the health system is a key tool for improving formhuman of well-being: improved efficiency,it is also a effectiveness, key mechanism quality, for increasing sustainability, national safety income and/ of health investments depend not only on general living standards or only andon total prosperity. national The health health expenditures, of the population but also and on the the economic actual profitabilitydesign and
performanceAs well as ofdriving health medical systems progress themselves. by However,researching, they developing must also and be efficientbringing andnew profitable, medicines so that as to improve provide healtha good andreturn quality on investment of life for in patients health. around the world, the research-based pharmaceutical industry is a key asset of the European economy. It is one of Europe’s top performing high- technology sectors. At the same time, the bio-pharmaceutical industry generates essential economic value in terms of job creation, investment in research and development and medicines that improve patient productivity.
InnovationRomanian patients, in medicine, like all inother general, European and patients, new generation have the right drugs, to have specifically, access bringto this major innovation. benefits Sustainable to the health development of the population, and economic society, growth the health in Romania budget. will depend heavily in the coming years on the quality of the health system, which can already use innovative solutions to improve treatment outcomes, increase the effectiveness of prevention methods and, most importantly, increase Romanians’ life expectancy.
Keywords: innovation, health, sustainability, performance
2021 25 Building Resilience through the Use of Intelligent Technologies: A Qualitative Research Iulia Daniela POSTOLEA Bucharest University of Economic Studies, Bucharest, Romania Constanta‐Nicoleta BODEA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: In the actual business context, characterized by a high degree of volatility, uncertainty and complexity, resilience represents an important characteristic of any work system, regardless of organizational level (workplace, a work system depends on how technical components, especially those based on department/project,intelligent technologies organization, are integrated network/alliance with the social componentsor industry). of Resilience the system. of Using the social-technical system theory, the authors conducted a qualitative research, in order to identify the relevance of different intelligent technologies and integration solutions for building resilience in organizations. Several managers,of the importance mainly financeof the resiliencechief officers, within were a limitedinterviewed organizational and their responsesresources werecontext analysed. as well Theas narrow main findings short-term of the perspective, research refer in connection to the acknowledgement with a digital transformation mindset and initiatives based on use of intelligent technologies.
Keywords: resilience, social-technical system theory, intelligent technologies, analytics.
26 2021 Digital Marketing Communication for Actual context of Romanian Modern Grocery Retailing Andreea STRĂTILĂ (IRIMIA) Bucharest University of Economic Studies, Bucharest, Romania Angela MADAN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The purpose of this paper is to present the most recent digital communications channels and the level of implementation by Romanian modern grocery retailers in the context of the new customers’ expectations. The literature review is presenting the most recently inputs on digital marketing communication. The paper also presents the Romanian actual context for modern grocery retailers, the digital communication channels used by top 5 Romanian modern grocery retailers and the imminent forecasts for Romanian modern grocery retailers. Finally, are presented conclusion and recommendations. Corroborating the literature review with the actual customers’ expectations, the paper presents as recommendations the using of large social media campaigns in order to reach a high level of engagement, value-added services, useful information and the enhancing of word-of-mouth. The paper is conceptual, so study is an important instrument for further research and for retail managers. It futureoffers a research valuable willresponse be necessary to the new to customers’ empirically expectations. validate these findings. This
Keywords: digital marketing, marketing communication, customer expectations, modern grocery retailers, retailing.
2021 27 What Drives Profitability in the Romanian ICT Sector? Alexandra HOROBEȚ Bucharest University of Economic Studies, Bucharest, Romania Alexandra SMEDOIU POPOVICIU Bucharest University of Economic Studies, Bucharest, Romania Lucian BELAȘCU „Lucian Blaga” University of Sibiu, Sibiu, Romania Dan Gabriel DUMITRESCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: sector, countryIdentifying level, the or major through driving regional factors and behind international variations incomparisons. profitability across firms is a research question addressed by many, at industry, economic industries, is the norm, rather the exception. The Romanian ICT sector, one of the Empirical approaches have shown that profitability variation across firms and mostbut other dynamic disparities in the last originating decade and in abusiness “winner” features of the pandemic, – size, personnel enjoys different costs, levels of profitability in its two main components, Manufacturing and Services, productivity – are present. We investigate the factors behind the profitability of Romanian ICT companies in the firm- industry-location nexus by applying the variance components methodology, using ROA as measure of profitability. Our findingswhich raises show the the issue high ofinter-firm whether ROA this heterogeneity,sector has effectively but also incorporated that firm-related into factors are more important than industry or location drivers of profitability, is once these advantages will diminish. profitability the fiscal advantages it enjoyed and how sustainable its performance Keywords:
profitability analysis, ICT sector, Romania, variance components.
28 2021 High-Tech Industries Performance in the European Union Alexandra HOROBEȚ Bucharest University of Economic Studies, Bucharest, Romania Melisa GÎLCĂ Bucharest University of Economic Studies, Bucharest, Romania Lucian BELAȘCU „Lucian Blaga” University of Sibiu, Sibiu, Romania
Abstract: Digitalization has been a constantly increasing driver of the standard of living worldwide, providing mechanisms through which quotidian activities
Therefore, people, businesses and governments became dependent on the aregood simplified,functionality errors of technological reduced, and advances development integrated of nations in the accelerated.system. In this framework, the performance of companies in the high-tech sector is vital to maintain and promote progress at country or region level. In the last decades, we saw a complete transformation of the way the high-tech sector is perceived, especially considering how digitalization penetrates more developed countries versus less developed ones. In this respect, the current paper analyses the performance of knowledge intensive companies in the services sector headquartered in the European Union, with relatively homogenous macroeconomic situation. Firstly, we investigated the performance of these knowledge-intensive services between 2011 and 2017 using productivity and services under normal economic conditions, and at revealing the relations profitability indicators, aiming at gaining insight into the behaviour of these the Eurostat database with a panel data approach, using an ordinary least squares between performance and location. We analyse the information extracted from The results imply that industry factors are more prominent than geographical (OLS)position model, as drivers taking of into knowledge-intensive consideration industry industries’ and country-specific performance, but variables. further research is needed to have more conclusive estimations. Secondly, we analysed theconditions current and pandemic have easy and accessthe way to social any information distancing is necessary. pushing towards From here, finding we fast and efficient solution to maintain communication, work in appropriate services business performance in the years to come. discuss the implications of our previous findings for the knowledge- intensive Keywords: high-technology, knowledge-intensive services, location, performance, productivity.
2021 29 Individual work valuation in a digital world – the case of personal token’s pricing Michał LITWIŃSKI Poznan University of Economics and Business, Poznań, Poland Kamilla MARCHEWKA‐BARTKOWIAK Poznan University of Economics and Business, Poznań, Poland Karolina NOWAK Poznan University of Economics and Business, Poznań, Poland
Abstract: work valuation. Valuing one’s work is usually based on three sources: comparing competitionPersonal prices, tokensdetermining (specifically, the costs utility incurred, tokens) identifying can serve the as valuea measure offered of work that is valued by means of personal tokens and offered in the virtual world. to the investor/client. The aim of the paper is to identify the types of individual service providers who valuate their services (performed both online and in the Wereal wouldworld) also using like personal to recognize tokens. motives The theoretical and incentives basis offor different this analysis individual is the
Schwartz. Conclusions will be drawn on the basis of case studies. The authors theorywill analyze of the the basic data individual and information values and available work values on the implemented personal tokens firstly platform by S.H. (personaltokens.io) in order to specify the measures for assessing the motives of work valuation based on personal tokens. One of the results of the study is
Keywordsthe identification of a new motive for virtual work which is the network theme.
: individual work, labour value, digital finance, personal tokens.
30 2021 The impact of COVID-19 on entrepreneurs Elena Florentina GREJDAN Bucharest University of Economic Studies, Bucharest, Romania Elena GOGA Bucharest University of Economic Studies, Bucharest, Romania Gheorghe ORZAN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The scope of the present paper is to reveal the impact of COVID-19 on entrepreneurs in the context of the pandemic situation. The research method involves a quantitative investigation with an exploratory- descriptive scope. variables were the implementation of new business strategies, the strategy Theapplied sample by theconsisted authorities of 300 to participants support entrepreneurs of the entrepreneurial in managing field. the The actual main crisis, decreasing turnover and digital marketing strategies. The purpose of the study was to illustrate that were that the general trend of the market was one of growth and the companies want state support for investments that will help requires changes in strategies. Moreover, this research demonstrates that digital themarketing which willstrategies support have the had flexibility a positive of companies effect on business in the current recovery situation in times that of pandemic.
Keywords: digital marketing, entrepreneurship, covid-19, global health crisis, economy, business.
2021 31 The Accelerated Digitalization of Local Taxes and Fees Services – A Solution for the Budgetary Deficit during the Pandemic Period Dorina SANDU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: account thatThe events year with2020 risk has mayshown occur us onthat public the needs health, identified on the socioeconomic, at the level of apolitical community and culturalcan legitimately status, events lose their that priority.may impose We must restrictions, accept and rules, take social into distance and isolation. It is another way of life characterized by a high degree of vulnerability at the individual, family and community level. The efforts of public authorities to prevent the spread of the SARS-COV-2 virus have involved allocating considerable amounts to the medical system, but also to support the business environment, the citizens - temporarily or permanently without a job or forced to stay home for children’s care. These amounts, not initially foreseen imbalance. The expenditure levels have risen and the revenue generation buthas been allocated imperative. through In budgetarythis paper, rectifications,I intend to analyze caused the aextent serious to which economic the special situation caused by the SARS-COV-2 virus has affected the degree of collection of local taxes and fees, given that during 2020 the public institutions have suspended their work with taxpayers and also the digitization process of the entire sector has been accelerated. I chose to analyze the budgets for the years 2019 - 2020 of the county seat municipalities, in order to identify the collection level differences, as well as the services made available to citizens in establishing, ascertaining and controlling the tax matter, monitoring and inenforcing order to tax continue receivables, this activity. I’m interested Since the in field my ofstudy local to taxes identify and feesthe consistsways in which local public authorities, by accelerating the digitization of public services, have managed to support both the citizen and the local public institutions by pandemic. collecting amounts meant to make up for the budget deficit generated by the Keywords
: public administration, taxation, fiscal sustainability, digitalization.
32 2021 Conceiving Resilient Solutions for Tourism during the COVID-19 Pandemic Iuliana POP Bucharest University of Economic Studies, Bucharest, Romania Delia POPESCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Until 2019, tourism was one of the most dynamic economic activities in the world, holding the third place in the world for exports, after fuels and chemicals. In 2019, tourism registered a number of 1.460 million tourist arrivals andactivity 1.481 to USDthe occurrence billion tourism of unforeseen receipts, according factors, which to the can United strongly Nations affect World this Tourismactivity. TheOrganization COVID-19 (UNWTO). pandemic At is theone same of the time, factors tourism with is major a very impact sensitive on economic activity in general and tourism activity in particular. The negative effect of this unprecedented health crisis on tourism has been noticed from the very beginning. The pandemic has affected tourism worldwide, with major losses in tourism is looking for solutions to resume business, and the administration of touristanti- COVID-19 arrivals ofvaccines 74% in offers 2020 acompared chance for to economic 2019. Despite recovery, all these some difficulties, countries offering a new „all inclusive” package that includes the anti-COVID-19 vaccine. The paper aims to analyse how countries in which tourism plays an important using newer, atypical solutions. . role in the economy manage to find solutions for tourism recovery, sometimes Keywords: COVID-19 pandemic, domestic tourism, medical tourism, resilience, vaccine.
2021 33 Integration of Business Intelligence solutions in Economic Organizations Monica LIA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: This paper seeks to identify how Business Intelligence Tools support the shareholders of the economic organization in the process of establishing strategies and pursuing the achievement of the company’s objectives. The paper’s subjectestablishing started the from strategies the need of the to economic‘link’ two organization.specific elements Often, of fortwo experts different in fields:Economic Informatics Strategies, - Business Business IntelligenceIntelligence andTools Economics have an abstract Tools -idea. Elements Business for Intelligence Platform is like a ‘bubble’ that produces some miraculous results that can be used to take the decision. It is a ‘bubble’ that swallows what exists in the operating systems and gives results of analysis of the economic state of the organization. This understanding appears at the moment of contracting a Business Intelligence solution by the Economic Organization. Disappointments may arise during the development of the Intelligence business platform. The BI platform is no longer a ‘bubble’ but it’s something you need to know about - working in economics and not IT: the result, the output is closely related to the input. There is a need for a very clear, concise, unequivocal thinking of the terms the calculation method, the delimitations in the business area, the exceptions. On andthe other indicators hand, used for thein the IT economicexpert it becomes organization. a necessity There is to a understandneed to clearly what define the decision maker of the strategy wants to achieve, using the business intelligence platform. By understanding and knowing the process of designing a business intelligence platform, the IT expert (actually the IT implementation team) can for the Business Intelligence Platform. In my doctoral research I have often guidenoticed the at business my colleagues people from in defining other economicthe business faculties elements - a confusionneeded as betweenan input the different IT tools. They were in the impossibility of their clear delimitation: which are applications dedicated to operational systems, which are ERP systems and which are business intelligence applications
Keywords: business intelligence, platform, tools, economic organization, strategies, key performance indicators, analysis.
34 2021 Minitrack: Global world after crisis: towards a new economic model Minitrack Chairs: Carmen-Elena DOROBĂȚ, Radu-Cristian MUȘETESCU, Cristian PĂUN medical crisis generated by a very dangerous virus, this medical crisis became COVIDsuddenly crisis pandemic changed and affected significantly all countries the global of the world world. today. The response Starting of as the a governments to this medical problem was almost the same: closing the major economic activities for a while and imposing isolation at home for the majority of the population. The economic effects were inherent and pushed the global economy into a potentially severe economic crisis. The recession time is very closed if this economic crisis is not properly managed in the next period. The panel is focused on the change in the global economies following the COVID
(but the panel is not limited to them): •medical The crisis.solutions We proposedrecommend for proposingeconomic crisis;papers covering the following topics • The global economic contagion effect; • The impact on the living conditions; • The geopolitical aspects; • The solutions for the government; • • The long term effect of this medical crisis; The changes in the global financial markets; • The impact of the crisis on the free trade and international investments.
2021 35 Carmen‐Elena Dorobăț is a PhD economist, and currently Associate Professor (Senior Lecturer) in Strategic Management at Manchester Metropolitan University Business School in the UK. Research interests include strategic management and entrepreneurship, the history of economic thought, and monetary and trade theory and policy. She is also a Fellow of the Ludwig von Mises Institute, USA, a Fellow of the Higher Education Academy, UK, and a Certified Management and Business Educator by the Chartered Association of Business Schools.
36 2021 Radu Mușetescu is an economist specialized in International Business with postgraduate studies in Geopolitics and Geoeconomics. Member of the Department of International Business and Economics in the Academy of Economic Studies in Bucharest. Visiting professor at the University of Szczecin in Poland (2014) and National Intelligence Academy in Bucharest (2016, 2017). Interested in the economic dimension of the national security as well as business‐government relations in international politics.
2021 37 Cristian Păun is a full professor of International Finance and International Risk Management to the Bucharest University of Economic Studies. His academic works are focused on the topic of risk management, international crisis contagion effect, banking and monetary policy issues. He was involved in various research projects covering different scientific areas such a s risk management, international crisis contagion effect, the risk aversion of individual investors, rating systems, the effectiveness of European Funds, financing of innovative SMEs’. He worked as financial consultant for few important Romanian consultancy companies for developing financial models in various business plans for complex investment projects in the construction, pharma, textiles etc. sectors. He is the Executive Director of the Romanian Society for Economics since 2009 and the vice‐dean of the Faculty of International Business and Economics since 2016 (responsible for research activities). Today he is the President of the Romanian Fund for Guarantees and Loans for SMEs since January 2020.
38 2021 The role of foreign direct investments in Georgian economy: Statistical Analyses Nona GELITASHVILI Tbilisi Humanitarian Teaching University, Tbilisi, Georgia Sofiko DZHVARSHEISHVILI Tbilisi Humanitarian Teaching University, Tbilisi, Georgia
Abstract: The issue of foreign direct investment is actual nowadays, it is under the attention of international and national scientists and is well-reviewed in different types of literature. Foreign direct investments have high importance in restoring, renewal and creation of economy of the country, of course, that is crucial for Georgia. The main aim of the work will be to cut out and analyze the on the Georgian economy. In this paper, we will consider and analyze the effect factorsof foreign that direct influence investment the inflow on the of investmentsmajor economic and determinationsectors of the country. of its effects Due to the great importance of foreign investment, it is necessary for the country creating the right conditions to attract foreign investors. The main goal of the paper will be to study the trends of attracting foreign investment in Georgia and to get a closer look at the current situation and challenges in this regard.
Keywords: foreign direct investment, pandemic, economic growth, economy of Georgia.
2021 39 Solutions for Post-Pandemic Economic Recovery: Case of China Vasilii EROKHIN Harbin Engineering University, Harbin, China Tianming GAO Harbin Engineering University, Harbin, China Anna IVOLGA Stavropol State Agrarian University, Stavropol, Russia
Abstract: The global economy is now under extremely severe pressure from a great variety of political, economic, social, environmental, and public health challenges. The COVID-19 outbreak has rapidly transformed from a medical phenomenon to a threat of disruption to global supply chains and economic recession in most countries of the world. Despite the similarity of problems, the impact of the pandemic on individual countries has appeared to be different country that experienced the outbreak in early 2020 and now it is one of the in terms of the severity of both human and economic losses. China is the first and social measures allowed China to restart economic activities in the domestic firstmarket to recover and restore from foreign it. A set trade of effective with its and counterparts. efficient health This security, paper presents economic, an assessment of major macroeconomic parameters of China in 2020 compared solutions made by China’s government during the pandemic, and assess how tothese previous measures periods, have discusses affected China’sthe efficacy recovery of economic, in terms fiscal,of GDP, and investment investment in
Keywordsfixed assets,: China, exports GDP, and export, imports, import, money investment, supply, and pandemic, the price trade.index.
40 2021 COVID-19 crisis and international trade. Two selected country cases Adrian Tudor TUDORACHE Bucharest University of Economic Studies, Bucharest, Romania Luminița NICOLESCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The recent COVID-19 health crisis determined a global economic crisis and numerous economic consequences at different levels. In these conditions, the study of the economic impact of the health crisis became a necessity. Therefore, the present paper focuses on the study of COVID-19 crisis on international economic relations, using the example of two countries. Based on the regression methodology it was measured the impact of the COVID-19 burden on the international trade flows of two European countries, namely Romania and Hungary. The results of the research illustrated that the COVID-19 burden had an effect on international trade in the two countries. However, the influencesaffected that differed those of in Romania. the two countries, with the exports flows being more affected than imports in both countries and with exports in Hungary being more Keywords: COVID-19 crisis, international trade, Central and Eastern Europe,
Hungary, Romania.
2021 41 Analysis of fluctuations of aggregate indicators and persistence of business cycles in the Caspian countries Radu‐Cristian MUȘETESCU Bucharest University of Economic Studies, Bucharest, Romania George‐Eduard GRIGORE Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The global macroeconomic context is increasingly prone to the emergence and prevalence of those situations of uncertainty and as risky as possible. Starting from the theoretical particularities of economic cycles, this paper aims to analyse the dynamics of aggregate indicators in the Caspian countries. Thus, we have proposed to investigate the extent to which the existence of business cycles produces a series of disturbances at the level of each analysed state, as well as how their persistence contributes to a series of implications that may affect their performance at the macroeconomic level. The novelty of the study consists in the particular analysis of the countries of the Caspian region, reason for which they present certain advantages in terms of competitiveness, mainly by carrying out international transactions with petroleum products. From aof methodological each macroeconomic point of variable view, we (production, have proposed private to use and the public Hodrick consumption, -Prescott filteringinvestment, method exports, in extracting imports and and the isolating real price the ofcyclical oil) in component the period 1990-2019.at the level Thus, we could show the dynamic evolution of the analysed indicators, the the level of each variable for each state, by calculating standard deviations and degreecorrelations of persistence in relation of to fluctuations, production. as At well the assame the time,measurement we showed of volatility the impact at of the real price of oil on the dynamics of business cycles. The results showed an increased volatility of production in Azerbaijan, respectively of imports and exports which is 2 times higher in Turkmenistan than in Kazakhstan, as well as a 38% higher volatility of consumption in Iran compared to Russia. Also, production and real oil price are strongly positively correlated in Azerbaijan, Kazakhstan and Russia, being over 35%.
Keywords:
business cycles, fluctuations, real oil price, volatility, HP filtering.
42 2021 Challenges of Modern Public Management from a Human Resources Perspective Cătălina SITNIKOV University of Craiova, Craiova, Romania Ionela STANECI (DRINCEANU) University of Craiova, Craiova, Romania Mariana Paraschiva OLARU (STAICU) University of Craiova, Craiova, Romania Aurel DINCĂ University of Craiova, Craiova, Romania
Abstract: public services. This is a natural and essential part of management, all managers playing anHuman active roleresource in the management process of managingis not a new their idea own to staff.be imposed Managers on manage people, this is one of their basic responsibilities. But managers also manage other resources, including budgets and material resources. The description of people as resources can lead to the rejection of such labeling, because the human factor has a much higher intrinsic value than money or to diminished attention to the task of managing people. Accepting people as a otherresource material emphasizes aspects. that However, they are theirat least non-recognition as important as as other a resource resources, has and led that their good management requires levels of training similar to those needed to manage any other type of resource. This is especially true in the public sector public services largely dependent on the competence of civil servants. All where people remain the most valuable asset, with the provision of efficient role of directors in the management and evolution of staff being as important managers are responsible for the efficient management of their resources, the management refers - like all management activities - to policies and procedures. asThe that main of objective the manager of the specializing article is to inanalyze human the resources. process elements Human resourcethat can
Keywords:influence human management, resource management. human resources, public sector, procedures, processes.
2021 43 Considerations Regarding the Management of Organizational Culture Silvia Mioara ILIE (TROI) University of Craiova, Craiova, Romania Costinel Cristian MILITARU University of Craiova, Craiova, Romania Alina Mădălina BELU University of Craiova, Craiova, Romania Ionuț RIZA University of Craiova, Craiova, Romania
Abstract: balance between understanding people and understanding the complexity of the social situationsTo understand in which they people’s operate. behavior Each ofin usthe has workplace, certain opinions we need about to find the a people around us. These opinions were formed by interacting with these people. Organizations have cultures just as people have personalities. Organizational behavior is a product of the interaction between individual and organizational factors, between individual needs and social conventions, between doing what is in our own interest and doing what is allowed. Culture is the core of the entire system, staff and skills. It is also the identifying element of a new organization. organizationalAll organizations network. have their It influences own individualized and is influenced culture. Organizationalby strategy, structure, culture represents the personality of the organization, the way it works. Organizational relationships with society and its people. Culture has become an important cultureelement was considered created inover economic time, being and influencedbusiness development, by history, by it therepresents permanent the individualization of a group within the organization, bearing characteristics of
The increase of investments outside the country of origin, the mergers of nationalcompanies culture, from differentits members geographical being the areas, result the of globalizationspecific cultural of organizations stereotypes. highlighted the importance of cultural differences at the organizational level. The main purpose of the article is to evaluate on the basis of measurable variables the organizational cultures practiced by modern organizations in Romania.
Keywords: organizational culture, organizations, behavior, management, models.
44 2021 Research on policies and mechanisms that can streamline the process of transition to green energy and achieving climate change-related targets Elena Andreea NICULESCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Global warming or climate change is a dangerous phenomenon that humanity is currently facing and is a direct result of increasing greenhouse gas emissions. The European Union, as a global leader in combating climate change, has an important role to play in international efforts to reduce CO2 emissions as well as to reduce the impact of climate change, by creating and implementing mechanisms aimed to deliver climate change direction by establishing a path towards climate neutrality and supporting this transition to green energy. The objective of this paper is to identify and analyze the main tools that can streamline the process of transition to green energy and achieving climate targets associated with climate change. In this sense, the comparative analysis is used which aims to understand the need to implement these international mechanisms, being based on the presentation of strategies that can be used to stimulate the global transition to a neutral economy in terms of climate impact.
Keywords: green energy, climate change, climate neutrality.
2021 45 European Union financing for SMEs rethought in the scenario of a long-term pandemic Angel‐Cristian OLTEŢEANU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The European Union has been a vehicle for investing in business areas which are otherwise off-limits for traditional banks and investors. Indeed, the source of funding for otherwise risky business ventures but also for innovation, Europeaninvesting in Union, ideas throughand business its variety processes of financing which areprograms far from has a statenot only of going been to a market. In the context of the Covid- 19 pandemic, many traditional businesses throughout the European Union, which relied on a physical operation for their down or reduce their business. Meanwhile, businesses focusing on electronic profitabilitycommerce have (such been as thriving, shops, restaurants, with rising localconsumer services), expenditure have had diverted to close to them as well as the possibility of more consumer time for prospecting. In the scenario that the business state of the pandemic lasts for another 2 to 5 years, a useful topic lies in addressing the way the European Union funds should be invested so that the European Commission can continue upholding its pledge of encouraging European businesses at local, international and global levels.
Keywords: EU, SME, COVID-19.
46 2021 Some possible effects on trade of an EU carbon border adjustment mechanism Vlad EPURESCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The European Union`s decision makers placed in their agendas a very sensitive subject such as repeatedly tried, in the past, to impose a carbon border tax. The advocates of such a measure use a mix of arguments, the need to protect the competitiveness of strategic sectors of the EU industry combiningaffected by the the urgency carbon ofleakage fighting phenomenon. climate change There through are, publicat the policies same time,with they consider acceptable. Based on public statements and on studies prepared opponentsby both government of this justified institutions measure and academics, and are making it seems several that the arguments EU wants that to implement a carbon border adjustment mechanism (CBAM), and this should be just a solution to avoid islands of carbon leakage, but in reality, is an attempt to inremodel line with the the foundations WTO rules. of It multilateralismseems that the implementation on a green narrative. of the CBAMUsing istime- not series data, the author tried to assess a possible impact of CBAM on the internal aluminium market in order to see if the cost competitiveness of the main EU producers might improve or not in relation with their non-EU competitors from China, the biggest global producer of aluminium products. The author consideredthe results he the has insufficiency reached. Some of some of these of themethodological necessary data, asymmetries the still existing will be statisticaladdressed asymmetriesin future research. and some recent developments that may influence
Keywords: aluminium, aluminium extruders. carbon border tax adjustment, ETS, aluminium, flat-rolled
2021 47 Empirical analysis on the impact of the COVID-19 pandemic on the real estate industry in Romania Raluca Florentina CREȚU, Bucharest University of Economic Studies, Bucharest, Romania Romeo Cătălin CREȚU University of Agronomic Sciences and Veterinary Medicine, Bucharest, Romania Petrică ȘTEFAN University of Agronomic Sciences and Veterinary Medicine, Bucharest, Romania
Abstract: we live, work and many of the values we thought were important. Both human 2020 was an atypical, difficult and unusual year. He changed the way pandemic produced by the SARS-CoV-2 virus. The Real Estate Industry was no healthexception, and which activity was in one all industriesof the least were hit by influenced the dreaded in virus different and waysrestrictions. by the Despite the challenges of the COVID-19 epidemic, in Romania, sellers’ claims returned to an upward trajectory in the latter part of 2020, which are currently 2.2% higher compared to the beginning of 2020. Demand remained high especially in the second half of the year. Positive annual differences can be observed in all six constantly monitored regional centres, at the top of the ranking of prices located in the city of Cluj-Napoca, while Bucharest is at the opposite pole. The average amount requested for a national apartment increased by 1.5% the impact of the COVID-12 pandemic on Romania’s Real Estate Industry? The during December, from 1,351 to 1,371 euros per useful square meter. What is objectivesmetre evolved of this during work are:this 1.period? How affected The research was this will industry cover in the the period major citiesfrom ofJanuary Romania 2019 in to2020 December compared 2020 to 2019?and will How analyse has the the average Real Estate price Industryper square in several Romanian cities.
Keywords: real estate market, real estate properties, real estate index, price, demand.
48 2021 Cost considerations and economic impact of cancer on labour markets Clara VOLINTIRU Bucharest University of Economic Studies, Bucharest, Romania Rodica ZAHARIA Bucharest University of Economic Studies, Bucharest, Romania George ȘTEFAN Bucharest University of Economic Studies, Bucharest, Romania Vlad NERĂU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The challenges faced by newer member states in the reform and management of their healthcare sector are well-known, yet often under- assessed.consider the This case paper study is part of Romania of the first because comprehensive it is among study the onEuropean the indirect countries costs ofwith cancer the lowest in the health-carecontext of a expenditures Central and Easternfor cancer European per person member -20 euros, state. andWe overall Romania has the lowest health expenditure per capita in the EU with terms of public healthcare expenditures, preventive care expenditures, and onlytreatable 584 euromortality. (Hofmarcher Patients et with al 2020). cancer Romania experience has veryvarious low administrativecapabilities in and social obstacles: lack of national screening programs, translated into a late diagnosis, low access to and poor education around screening, long waiting list for mandatory tests etc. In addition to this, our data shows that, it takes up to 6 months from diagnostic to the start of treatment for pulmonary cancer in Romania, or that patients are sometimes traveling up to 12 hours to reach a cancer treatment center. The poorer conditions for people with cancer in impact of cancer on the Romanian labour market as indirect costs of the disease. Romania are reflected in a higher burden of cancer. We look specifically at the Keywords: labour market, Romania, economic impact.
2021 49 Paradigm shift, COVID-19 and tourism. Some sensitive correlations Roberta‐Laura JIANU (GALAV) Bucharest University of Economic Studies, Bucharest, Romania
Abstract: proved to be springs for uncertainties, to know no national borders and to need strong internationalInequality, partnerships. poverty, conflicts, At the social national turbulences level, these and challenges pandemic crisesare at the heart of government agendas and are a priority for ministries, national or sectoral government agencies. The growing number of threats and challenges humanity is facing with have one essential element in common, which is the need for a coordinated global response if it is to be effective. The interconnection of partnership relations at international level can be done through international means for which no country can develop and implement macroeconomic trade,or sectoral cross-border policies without investment considering flows, unrestricted the requirements technological of international progress, partnership. Like most services, tourism is part of an open system in which the diagram of relationships that are established between the actors participating in capital, relational capital, is becoming essential, especially in conditions of deep theeconomic market turbulence game is defining. such as This those increasingly generated dynamic by the pandemic. component More of intellectual and more, turmoil. In the paper, the author makes a multi-parameter comparative analysis analystson the size underline of the impact that the of tourismCovid-19 sector on other is profoundly global crises influenced and explores by global the is when to start and what type of post-pandemic reset should be implemented, paradigmthis paper shift aims specific to identify for tourism. the most Since appropriate the main challenge directions for in the which whole decision society makers who want to manage the reset process of Romanian tourism should focus.types ofThe tourist analysis services; identified increasing the following technological directions intensity of orientation at all levels of repairof the activities:supply chain; employment foster sustainability; of a wider rangeimproving of human partnership. resources; diversification of
Keywords: pandemic, challenges; international tourism, repertory measures; correlation and causalities.
50 2021 Global economy in the COVID-19 era. The impact of the pandemic on the economic and financial systems Narciz BĂLĂȘOIU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The transition from pandemic shock and adaptation to the new normal was gradual, affecting the social, political, but especially the economic spectrum.affected all The emerging global businessmarkets, wasalthough the first some to adaptof them to theshow new more situation economic and operate in a new paradigm. The spread of COVID-19 in the first part of 2020 resilience than others. The impact has been determined or influenced by the form and magnitude of fiscal and monetary incentives, as well as the health systemschains, a efficiency.different complexity We are witnessing of US-China the trade emergence tensions of and obstacles an increased to the freerisk flowof public of capital, debt among labor cloisteredand trade. markets, We are alsoresulting witnessing in an increased a relocation risk of defaultsupply on sovereign debt.
Keywords: transformation. pandemic, economic crisis, financial risk, supply chains, systemic
2021 51 Constructivism and Competitive Intelligence, new economic model after Covid-19 Crisis Mihail PĂDURARU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Currently, the dynamics of new generation threats have deeply onset of the Covid-19 health crisis. Moreover, the nature and the plurality of the influencednew hybrid the risks economic and threats stability demands in several a stringent areas of need the world, to deepen especially the studies with the on new models used in competitive assessments. This paper proposes integrating core ideas of constructivism into the new model of competitive intelligence in order to improve the process of economic resilience building. That being said, the current research aims to bring into the light a complementary approach which could improve the competitive intelligence practices through economic constructivism. The economic constructivist approach will provide additional conceptual tools to understand business and economic issues related to human consciousness, national identity, and interest formation after the state of entropy generated by the Covid-19 pandemic. Consequently, a comprehensive understanding of nowadays economic issues, will provide analysts with the necessary foundation to draw up a set of early warning indicators, that will allow preventive or disruptive actions by state organizations. In addition, this academic approach aims to highlight several particular topics, such as the relationship between competitive intelligence and economic constructivism, as well as the implications of economic constructivism for competitive intelligence.
Keywords: competitive intelligence analysis; economic constructivism; security; critical thinking; errors.
52 2021 The reforms of EU’s Common Agriculture Policy - a never ending story Cristian Valeriu PĂUN Bucharest University of Economic Studies, Bucharest, Romania Cosmin Ovidiu IVAȘCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: This paper is focused in the analysis of the evolution of the one of the most important EU common policy - agriculture policy, from the perspective of its major reforming leaps. The historical perspective, from the introduction of this policy at the level of EU until today, gives us the possibility to understand and to emphasize the initial goals of these reforms, their real impact and consequences. The effectiveness of these reforms is relevant for understanding of the further developments of this key sector for the EU members. The dynamics and shifts in the agriculture production (more ‘bio’, more ‘green’ or ‘eco’) and consumption, the global competition, the internal pressures generated by the new members or by BREXIT are relevant in this respect. The funding schemes for this sector are directly connected to these reforms, being the key instruments to implement them for EU members. Therefore, the understanding of the patterns of these reforms can provide useful insights for the future, especially for countries like Romania.
Keywords: EU, Agriculture policy.
2021 53 Research on data analysis (environmental, social and economic) in the context of implementing the circular economy Denis‐Alexandru DRAGOMIR Bucharest University of Economic Studies, Bucharest, Romania
Abstract: As we know, a circular approach in economy means and promotes, in principle, the reusability of products and materials through different processes like recycling. refurbishment and remanufacturing. Thus, the latter is divided in categories based on their time through the cycles mentioned. To implement this system, compared to its long-lived predecessor, namely the linear perspective or model, a various number of actions and policies must be taken. The transition requires the setting of goals or targets meant for this operation. But will this result in a sustainable environment? In fact, the contribution and relationship between circular economy and a sustainable development and thus to a more sustainable society is under discussion. That being stated, this paper tries to analyze the concept of circular economy, describes its main principles and values, highlights the main differences in implementing these two antithetic systems – circular and linear – and gives information about the possibility of providing sustainability to the system in cause, or the sustainable connotation, if you want.
Keywords: data analysis, circular economy.
54 2021 COVID 19 and fine art market Ana‐Corina DIMITRIU Bucharest University of Economic Studies, Bucharest, Romania Gheorghe HURDUZEU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: COVID-19 impacted the entire planet. The world stopped for few months in 2020 and, after reopening, it started slowly to redesign the new way ofthe operating industries for which businesses traditionally and industries. was based Theon the new interaction paradigm of is the “digital”, artist with but canthe audience.“digital” replace There areeverything? people saying Among that all nobodyindustries, can art replace and culture the experience is one of you have in a gallery, museum, or any other place where the cultural act takes places. How the art and cultural world passed through the pandemic and how it is currently operating. Having a holistic view of the art and cultural industry, themain paper players is focused of the art on marketone segment, are operating on the fine in the art present. market, and tries to identify how the COVID 19 impacted the fine art market globally and locally and how the Keywords:
fine art, COVID-19, cultural world, global market.
2021 55 Anticipating the evolution of the healthcare during COVID-19 pandemic towards new normal and catalyst for economic recovery Georgiana Beatrice GHEORGHE (COȘOVEANU) Bucharest University of Economic Studies, Bucharest, Romania Gheorghe HURDUZEU Bucharest University of Economic Studies, Bucharest, Romania
Abstract. As the COVID-19 pandemic continues to evolve, European citizens have been experiencing an unprecedented crisis because of the major strain placed on healthcare and consequently on the European economy. In order to mitigate the risks of an imbalanced recovery and widening disparities among the EU Member States, the European Commission proposed new recovery instruments in health. The objective of this paper is to analyse the evolution of the healthcare during Covid-19 pandemic, reforms and plans that might be also future funding and new public private partnerships opportunities toward a better new normal health system. This will need to be further investigated in terms of opportunities and threats as a catalyst for economic recovery in European Union and Romania. Governments & hospitals struggled with how to patient care moving forward. The Governments have been concerned about the recover/exiteconomic recession the current and situationwant to focus and obtain on actions optimized needed efficiency to launch in providingeconomic recovery, healthcare systems’ resilience & new COVID waves and dependence
The pandemic should be leveraged to accelerate digitalization in healthcare. onSince global/’outside the start of the EU’ crisis manufacturing we have seen of pharmaceuticalsa transition to telemedicine and medical solutions devices. at a speed previously unheard of, to meet the new challenges. Digital health solutions have the potential to free up resources in health systems, enabling patient-centric solutions where people can receive care in their own homes. In the importance of health in society (e.g. beyond GDP or higher GDP investment). conclusion,Novel payments investment models, in newhealthcare funding should sources, be substantially like the EU Recovery increased Fund to reflect and National Plan for Resilience and Recovery, could be leveraged to build and invest in resilient value-based healthcare systems and strong pro-innovative industry.
Keywords: COVID-19, health, crisis, EU.
56 2021 COVID-19: towards a New Economic Order. How Romania was affected by the pandemic Nicoleta‐Eugenia NIȚĂ Military School for Warrant Officers and Non‐Commissioned Officers in Communications, Information Technology and Cyber Defense, Sibiu, Romania
Abstract: The world economy is in one of the worst economic crises since the Great Depression (1929-1933), the forecasts of economists placing its impact even beyond the magnitude of that recorded during the Great Depression. The Romanian economy could not be unaffected by this impact, given its dependence on global economic mechanisms and its integration into European and global value chains. Moreover, its structure makes the Romanian economy vulnerable to the impact of COVID-19: primary resource processing and machine building, the main areas contributing to GDP formation, are among the most severely hit by the recession, and the services sector is subject to pandemic restrictions.
Keywords: Romania, COVID-19, economy.
2021 57 Minitrack: Applied Economics and Statistics and Data Science Minitrack Chairs: Adriana Ana Maria DAVIDESCU, Roberto Dell’Anno The objective of the Mini-Track entitled Applied Economics and Statistics and Data Science is to bring together academic scientists, researchers, research scholars to present and discuss the most recent innovations, trend, patternscontributions and practicaldescribing challenges original, empiricalfaced and or solutions experimental adopted unpublished in the fields work of quantitativein the following modeling, areas are applied cordially statistics, invited and for data presentation science. High-quality at the conference: research Applied Statistics in Social Science, Biostatistics and Bioinformatics, Data Collection and Applications, Data Mining, Data Science, Demography, Design of Experiments, Econometrics (Macro and Micro Econometrics), Mathematical Statistics, Measurement, Network Analysis, Sampling Techniques and Applications, Spatial Statistics and Econometrics, Statistical Analysis of Internal and International Migration, Statistical Applications in International
Software (R, SAS, Python), Statistics in Education, Other Areas of Applied Comparisons,Statistics and Statistical Applied ModellingQuantitative and Analysis,Simulation, Quantitative Official Statistics, approaches Statistical in entrepreneurship and innovation, Business Statistics, Business analytics. The Mini-Track welcomes papers and research in the previously mentioned topics but is also open for researchers and practitioners bringing research papers or use cases in other areas related to the broader context of Applied Statistics and Data Science.
58 2021 Adriana Ana Maria DAVIDESCU is Full Professor at the Department of Statistics and Econometrics of the Bucharest University of Economic Studies Romania and senior researcher at the Department of Labour Market Policies of the National Scientific Research Institute for Labour and Social Protection, having more than 14 years of experience in socio-economic research. She has more than 14 years of expertise in the field of informal economy coordinating or being member of the research team of national and international projects. The main areas of interest include among others: labour market analysis, sustainable development, regional development, analysis and evaluation of public policies, human resource management, etc. She has extensive experience in the evaluation of projects and public programs as an expert in quantitative analysis and application of statistical and econometric methods in the process assessment, being involved in projects for policy assessment and measures to encourage active ageing, assessment of active measures on reducing unemployment and increasing employment, evaluation of employment increasing measures oriented toward rural area population, evaluations and forecasts of informal employment in strengthening the institutional capacity of The National/Regional Agency for Employment, assessment of the National Strategy for Research, Development and Innovation 2014- 2020. She has demonstrated knowledge and experience with quantitative and qualitative economic analysis and modelling techniques, background in the field of macroeconomics, as well as experience in applied econometrics, macroeconomic and microeconomic analysis, data validation and statistical analysis, predictive analysis, expertise in employment policy and labour market analysis. She was member of member of European correspondents Eurofound 2014-2018, The European Foundation for the Improvement of Living and Working Conditions (Eurofound) Romania and also CNSPIS member during the period 2016-2018.
2021 59 Roberto Dell’ANNO is Full Professor of Public Economics at the University of Salerno (Italy) and the Scientific Head of LaBETI (Research Laboratory of Economics and Technologies for Innovation) at the Department of Economics and Statistics of the University of Salerno. He holds a Ph.D. in “Public Economics” from the University of Salerno, a Master degree in “Economics and Finance” at the University “Federico II” of Naples (Italy) and an International Master degree in “Economics & Complexity” at the University of Barcellona (Spain), University of Roskilde (Denmark) and University of Salerno (Italy). He has been Visiting Research Scholar at the Faculty of Economics of the University of Cambridge (UK) and the Andrew Young School of Policy Studies of the Georgia State University (Atlanta, Georgia, USA). Dell’Anno has been Assistant Professor of Public Economics at the University of Foggia (Italy), Research Fellow (Post-Doc) at the Department of Economics and Statistics of the University of Salerno (Italy) and Marie Curie Fellow for Early Stage Researchers at the Department of Economics of the University of Aarhus, Denmark. He has published more than fifty articles in economic journals and he is currently an Associate Editor of the International Journal of Social Economics. He has been co-editor for the Italian Journal of Public Economics and reviewer for more than fifty scientific academic journals, international editors, private and public research institutions. His main research interests are in Informal Economy, Tax Evasion, Corruption, Behavioral Public finance, Bibliometrics and Measurement of Latent Variables.
60 2021 A Real Data-Driven Clustering Approach for Countries based on Happiness Score Aditya Chakraborty University of South Florida (USF), USA Chris P. Tsokos University of South Florida (USF), USA
Abstract: In machine learning and data science literature, Clustering is the task of dividing the observations (data points) into several categories in such a way that data points falling into one group are being dissimilar than the data points falling to the other groups such that the variation within a group is minimized and the variation between the groups is maximized. It falls under the class of unsupervised learning techniques. It is primarily a tool to classify individuals on the basis of similarity and dissimilarity between them. Our present study
Poll. Our study proposes the most accurate (if not the best) clustering algorithm utilizeswith a thevery world high happiness degree of data accuracy of 156 countriesto classify collected different by countriesthe Gallup ofWorld the world based on several economic and social indicators. The most appropriate clustering algorithm has been selected based on different statistical methods. to their happiness score. The three leading countries in terms of happiness from Wecluster also 1 proceed (medium to rankhappiness), the top tencluster countries 2 (high in eachhappiness), of three and clusters cluster according 3 (low happiness) are Oman, Denmark, and Guyana, respectively, followed by United Arab Emirates, Finland, and Pakistan. Finally, we use four popular machine obtained very consistent results with high accuracy. learning classification algorithms to validate our clusterbased algorithms and Keywords:
Clustering Algorithms, Subjective Well Being (SWB), Stability Measures, Machine Learning Classification Algorithms.
2021 61 The utilization of linear simple and multiple regression model in macroeconomic analysis Marius-Cristian RĂDUȚ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The most important synthetic indicator for the economic growth of a country is the Gross Domestic Product, calculated according to the national criteria or domestic residence. The indicator Gross Domestic Product per capita plays an important role in interstate comparisons. Both Gross Domestic Product andProduct. the product I wish toper expand capita thecan researchbe defined in inthe terms future, of valuestudying or growth the situation rate. The of paperother economiesanalyzes the in influence the European of the Union,foreign includingtrade on Romania’scomparative Gross studies, Domestic and such published alternative articles base on the results of these researches. In the analytical the evolution of GDP, let’s consider that a series of other variables have an important impact on the national synthetic indicator. The analysis of
It is obvious that the increase of exports on the international exchange market thehas impacta positive of exports,effect on imports the growth or net of export GDP. Imports, may indicated which GDPare notmodification. results of domestic activity, have a negative impact on GDP, from a quantitative point of view. As well, Consider the following aspects when taking imports into account: they represent the need of achieving national production in optimal conditions. itself as an addition on the offer of products for consumption, but also as a lack Whenof economic considering capacity imports to produce with and regard provide to direct for population consumption, consumption. this presents
Keywords: Gross Domestic Product per capita, import, export, net exports, linear simple and multiple regression model.
62 2021 Is Trust a Valid Indicator of Tax Compliance Behaviour? A Study on Taxpayers’ Public Perception Using Sentiment Analysis Tools Ioana - Florina COITA University of Oradea, Oradea, Romania Ștefana CIOBAN Babeș-Bolyai University, Cluj-Napoca, Romania Codruța MARE Babeș-Bolyai University, Cluj-Napoca, Romania
Abstract: Tax avoidance has complex implications in tax litigation as well as inthe the material economic damage and socialproduced field. to From the state a legal budget perspective, entails theany legalact or liability fact that of aimstaxpayer. to avoid State tax exercises or to evade its coercive the payment force ofthrough fiscal obligationsinstitutions is empowered punished and to collect public funds and is supported by the judicial bodies when identifying non- compliance behaviour that falls under criminal law. In this sense, investigation of tax evasion is a complex process, which requires knowledge from various preventing this type of violation of legal norms could be based on identifying fieldsthe most such appropriate as legal, economic variables or in socio-psychological. the social and economic Public context fiscal measures that trigger for the desired response in the behaviour of the taxpayer. This in turn could help technological development, preventing and combating fraudulent tax behaviour decision-makers build more efficient fiscal policies. In the context of current our research is based on the hypothesis that a trust climate between state and its couldcitizens be based more onefficiently transparency tackled on with public the spending, help of AI clear algorithms. laws, quality In this in publicsense, collected answers from 709 respondents using an online questionnaire. Then serviceswe modelled and a thelighter data tax using burden sentiment could encourage analysis taxbased compliant on various behaviour machine We with other research results which we discuss in the paper. learning algorithms. Results confirmed our hypothesis and were in accordance Keywords: analysis, BERT algorithm, tax evasion sentiment prediction. fiscal system perception, tax compliance behaviour, sentiment
2021 63 Migration – After a Year of COVID-19 Cristi RĂCEANU Bucharest University of Economic Studies, Bucharest, Romania Diana Valentina LUPOIU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: This article analyzes migration, starting from the impact of public policies generated by the pandemic COVID19. The purpose of the approach is to outline the dynamics of migration that we can expect as a result of the effects of the pandemic, as well as to analyze the political measures adopted to combat these effects.The article refers mainly to what happened in Romania by analyzing the data from 2019- 2021, being important in the context in which the social, political, economic dynamics hasbeen and is very high, since the onset of the pandemic. In order to analyze the data, we will use methods of econometric associated with a pandemic on migration, but also if the political restrictions analysisimposed and had descriptive a positive impact analysis in with order which to combat we will the find pandemic. out the negative effects
Keywords: COVID-19, migration, public policy, descriptive analysis, economy.
64 2021 Bertrand Competition Under Incomplete Information Alexandra VINTILĂ Bucharest University of Economic Studies, Bucharest, Romania Mihai Daniel ROMAN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The complexity of economic games has determined the application of models from game theory in the process of making optimal price decisions. Thus, price competition is perceived as a game in which microeconomic entities have different market powers and market performance depending on the informational advantage and implicitly on the opportunities generated by its capitalization. The various models developed having as reference classical modelstructure Bertrand is one (1883)of the providemost important useful insights dimensions into the of behaviourthe decision-making of firms in priceprocess, competition Bertrand-type and the competition operation ofanalysis firm in throughmarket. SinceBayesian the informationalgames under incomplete information is gaining attention in current research. The peculiarity of these games refers to the association of subjective probabilities with the parameters of the game, each player aiming to extract the informational rent of information held by at least one player, the information gap between players the opponents. So, the results of Bayesian games are influenced by the private the Bertrand competition in incomplete information (unknown demand and makingcosts). Taking strategic into selection account the difficult. scenario This in articlewhich close,aims tobut provide not perfect an overview substitutes of exist for the differentiated product with hypothetical data, we determine the outline the variation of gains according to the subjective distributions on the equilibriumchoice of strategies price and by opponents.the equilibrium profit levels followed by a simulation to
Keywords: Bertrand model, Bayesian game, incomplete information, game theory,industrial organization.
2021 65 Impact of Data Science, Big Data, Forecasting, Predictive Analytics over Business System’s Efficiency Angelica BĂCESCU-CĂRBUNARU Bucharest University of Economic Studies, Bucharest, Romania Mariluzia POPOVICI Vodafone Technologies, Romania
Abstract: Facing actual context and nowadays challenges related to the new actions generated by pandemic factors, we’ll centred the paper on areas: Data Science, Big Data, Big Data analytics, impacted by forecasting and predictive focus on practical implementations on banking and other technical-economical analyticsindustries. - generating Actual challenges, improved related results forto organizationsglobal problems, and businessenforce companiesunits. We’ll reshaping their business model to current events. Only companies managing businesses optimally adjusted will resist. Organizations should synergistically correlate all their business components, internal units and processes with the environment. It’s a critical time for companies and organizations, all industries and all areas. Decisions taken now by management and decision makers worldwide, determine how well organizations can adapt on global political, economic and social issues. Strategies must lead on sustainable business models actual paper will present latest methods and technologies used on Big Data and high return figures (high KPIs), also optimized models and processes.The forecasting part, making correspondence with predictive analytics. By getting analyticsin the process for organization’s of forecasting, efficiency estimating and future productivity values of increase.indicators We’ll - managerial focus on
Keystrategies. Performance Between Indicators, these two basedareas there on specified are interdependencies, forecasting algorithms, each of them will behaving shown different value ofapproaches, this field, ingiving parallel us methodswith predictive and techniques analytics forfor businessgoals of increasing outputs, measured by indicators, usually revealed in views, reports, dashboards and other system’s outputs and layers. Pointing on these sections and return’s enhancement for organizations.Current pandemic circumstances, of predictions, will reveal impact of these fields on decision’s improvement communications, increased medical actions and treatments etc., reveals the correlatedinformation’s with and afferent predicative’s effects: actions tele - working/ values for working mankind from future home, evolution. improved
Keywords: Data Science; Big Data; Statistics; Economic Intelligence; Forecasting; Support Vector Machine
66 2021 The Quality of Education in Terms of Social and Economic Development Elena TEODORESCU (MĂNESCU) “Valahia” University of Targoviste, Romania Elena PÎRVAN (OPRESCU) “Valahia” University of Targoviste, Romania
Abstract: The importance of knowledge and learning has been recognized since the beginning of time in terms of social and economic development. The welfare of society depends on the welfare of its members. A low level of development has the effect of limiting investments in education and human resources, and activity. In this paper, we present the link between the dependent variable Gross diminishesDomestic Product the quality and the and independent productivity variable of work, school regardless life expectancy of the indicator field of for the period 2012-2019 using the simple regression model. The results stand population. out the influence of school life expectancy on the degree of the well-being of the Keywords: quality, education, human resources, social and economic development.
2021 67 The impact of Covid-19 on the dynamics of metro transport in Bucharest Alexandru-Eugen STĂTESCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: public transport in Bucharest is metro transport (transport of passengers by metro on theIn theunderground conditions and of a above-ground city with overcrowded railway network) traffic, a and component is the main of object of activity of METROREX S.A. The company proposes every year a greater ensure an adequate transport capacity according to the requirement and optimal numberconditions of passengersof comfort and by adapting safety. In the this traffic paper schedules we study ofthe the impact subway of Covid-19 trains to on the dynamics of metro transport in Bucharest, using linear models of time series of SARIMA type, for the period 2008-2020. Comparing the predictions provided by the models for 2020 with the real values, we can infer the impact of Covid-19on the dynamics of the number of passengers. Preliminary results transport in Bucharest. show the existence of a significant impact of Covid-19 on the behavior of subway Keywords:
Economic-financial analysis, Passenger traffic, Time series, Adjustment function, Prediction/ forecast.
68 2021 Income Inequality Shift Paradigm. From Economic Approach to Sharing responsibilities Claudia-Andreea TOMA Bucharest University of Economic Studies, Bucharest, Romania Cristina BOBOC Bucharest University of Economic Studies, Bucharest, Romania Simona GHIȚĂ Bucharest University of Economic Studies, Bucharest, Romania Valentina VASILE Institute of National Economy, Romania
Abstract: This paper investigates the dynamics associated with inequality in EU perspectives: economic growth, certain macroeconomic variables, socio- memberdemographic states. environment The variation and of historical,the Gini coefficient political andis analyzed cultural fromenvironment. different control, the results showing that in the context of European convergence, the Thehistorical, use of political, the panel cultural data regressionand socio-demographic model allows factors country have specific the greatest effects impact in terms of income distribution. The paper proposes a new approach to the economic growth paradigm, based on reversing the dynamics of income inequality in the 21st century.
Keywords:
Income inequality, Gini coefficient, Panel data regression.
2021 69 Could Religiosity and Religion Influence the Tax Morale of Individuals? An Empirical Analysis based on Variable Selection Methods using the EVS/WVS 2017-2020 Adriana Ana Maria DAVIDESCU Bucharest University of Economic Studies, Bucharest, Romania Adina Teodora UNGUREANU Bucharest University of Economic Studies, Bucharest, Romania Eduard Mihai MANTA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The paper aims to investigate the potential impact of religiosity and religion on the level of tax morale, exploring if the individuals’ religiosity diminishes tax evasion and increases the level of tax morale. In order to do that, of tax morality in more than 79 countries worldwide, applying machine learning wevariable have usedselection the dataset methods of Joint suited EVS/WVS to categorical 2017-2020, variables allowing (Chi-Squared for comparisons and mutual information). The empirical results revealed that variables such as religious denomination, faith in God and the importance of God, together with associate with a higher level of tax morale, being the most relevant variables of the level of trust in people from other religion, confidence in churches have been of the government responsibility, the level of closeness to the country, the level religiosity.of satisfaction Another with importantthe political finding system is relatedwho were to the proved perceived to increase responsibility the tax is an adult over the age 25, full- time employee or retired, married and having morale.only one The member main incharacteristics its household. of a fiscal morale individual are the following:
Keywords: 2017-2020. Tax morale, tax compliance, religiosity, religion, Joint EVS/WVS
70 2021 The evolution of inflation in the context of the Covid-19 pandemic Ioana Manuela MINDRICAN Bucharest University of Economic Studies, Bucharest, Romania Elena-Florentina MATEI Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The starting point in the constitution of this article was the analysis ofcontext the evolution as the most of inflationharmful phenomenon in Romania in found the contextin contemporary of the existence economies. and development of the Covid-19 pandemic. Inflation is considered in the current
Theto explain concept the ofcauses inflation that determine has been this strongly phenomenon developed and over last but time not by least, various the economistsimpact it has and on specialists, both the populationwho try to outline and on a definitioneconomic as agents. concrete The as topicality possible, of the article and the motivation for choosing this topic is the analysis of the impact that the Covid-19 pandemic had on the main macroeconomic indicators, morewhich preciselywere found on ininflation. specialized At the studies same of time, economic, in this monetary context, theand aimsocial. of Thethis paper was to reach and highlight the most important issues related to inflation, can have a positive as well as a negative impact depending on the context. The effects of the inflationary phenomenon on the economic system are diverse and negative effects that can be identified from an economic point of view are the increaseinvestments, in the but opportunity also savings. costAs for in the terms positive of holding effects, financialthey can be resources, represented the uncertaintyby encouraging of the investment level of future in various inflation non-monetary that can lead capital to the projects,discouragement as well asof ensuring that central banks have the opportunity to adjust real interest rates
Keywords:according to the inflation rate.
inflation, real interest rates, Covid-19, savings, investments
2021 71 Comparative Analysis on Different Methods to Measure Welfare Beyond GDP for Romania Mihaela CAZACU Bucharest University of Economic Studies, Bucharest, Romania Emilia ȚIȚAN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: GPD is a benchmark for measuring macroeconomic activity since using GDP is that it ensures comparability in time and space having a good and 1930s (Kuznets, 1930) and policy makers around the world. Main benefit of the changes that have taken place over time. For instance, although developed transparentcountries are definition richer, they framework, are facing but unprecedented the pain point issocial that isand not ideological reflecting situations, which is why the result of GDP has begun to be questioned. The idea well-being has begun to take shape since. Beyond GDP (Stiglitz et al., 2009; thatOECD, GDP 2011) was initiativecreated to taken facilitate at European fiscal policies level notis the the proof real measurementthat researchers for aspects as well. COVID-19 pandemic came as a tsunami to prove that the most areimportant analysing decision new indicators for a society developments is to put at theto reflect heart basicsocial human and environmental needs when but the social implications, environment and happiness of the people. The aim publicof this policiesresearch are is tocreated. present Not alternative just the economic indicators growth of well-being reflects measurement the progress, and to compare them with GDP.
Keywords:
Beyond GDP, Well-being, Sustainability, Indicators, Social sciences.
72 2021 The impact of FDI on economic growth in case of Romania Alina Mihaela CIOBANU The Romanian Academy, Bucharest, Romania
Abstract: and the causality relations between GDP, trade openness, labor force and FDI in case of RomaniaWe test thefor theeffect last of decades. foreign directUsing aninvestment ARDL bound on economic testing approach growth and the error-correction based Granger causality test, our results suggest that foreign direct investment, trade openness and labor force are the main determinants of economic growth in the long run in Romania. Also, there is a cointegration among variables when real GDP and FDI are the dependent variables. The increase of GDP, exports, imports and labor force promote foreign direct investments in the long run.
Keywords: FDI, GDP, economic growth, Romania.
2021 73 Microfinance, Competition and Growth Boussetta ASMA University of Orléans, France El Moctar LAGHLAL University of Orléans , France Réda MARAKBI University Artois, France
Abstract:
(hereafter MFIs)The microfinance has soared from industry 54 Mds is in increasingly 2010 to 124 growing. Mds in 2018 Between worldwide. 2010 andMeanwhile, 2018, the the sizenumber of credits of borrowers granted has each risen year from by microfinance105 M in 2010 institutions to 140 M in 2018. This impressive expansion is mainly explained by the lack of access toinvest conventional in productive financial projects services (Dalla in manyPellegrina developing (2011)) countries. and to get By accessfacilitating to a accessbetter education to credit, (Adjei the microfinance et al. (2009)). sector In response allows to the the poorest rapid growth households of MFIs, to an increasing number of studies have started examining the economic effects well-being of poor people, these works are mainly concerned with the effects of of microfinance. Since the initial objective of microfinance was to improve the empowerment of women. The large majority of these studies use survey data microfinanceand provide an on analysis poverty, at inequality, the microeconomic education, level. health Among and, to the a lesser most interestingextent, the are the works of Karlan and Zinman 2010 on South Africa, Karlan and Zinman
Tarozzi et al. 2015 on Ethiopia, Angelucci et al. 2015 on Mexico and Banerjee 2011 on the Philippines, Augsburg et al. 2015 on Bosnia and Herzegovina, et al. 2015 on India. The conclusions of these studies are mixed. Some find that microfinance improves the socioeconomic status of poor people by reducing povertyuntil very and recently, inequality, there some has findbeen no much effect less and work some at even the findmacroeconomic that microfinance level. increases poverty. Due to the lack of large databases on microfinance institutions
However, contrary to microeconomic studies, these works globally conclude that microfinance contributes to reducing inequality and poverty (Imai et al. (2012), Hermesconstraints (2014) and andstructural Bangoura framework et al. (2016)). within which Therefore, each even of these if microfinance economies doesoperates not - reduce it nevertheless inequality seems and povertyto reduce in inequality all countries and -poverty given theat a specific global level. According to Bangoura et al. 2016, this could be explained by the fact that the best of our knowledge, no clear cross-country evidence exists on the role microfinance would stimulate growth, thus reducing poverty. Nonetheless, to 74 2021 of microfinance in promoting economic growth. The purpose of this paper is to To this end, we use a large panel of emerging and developing countries over fill this gap in the literature and to assess the impact of microfinance on growth. the 1999–2018 period. Our results show that microfinance strongly contributes to increase growth, in particular in low- and middle-income countries. We also study the channels through which microfinance positively affects growth. In particular, we show that microfinance boosts investment which is one the main determinants of economic growth. We also analyze the substitutability/ complementary between the microfinance sector and the conventional financial sector. In this respect, we show that both sectors are substitutes and not complements. Finally, this study offers a reflection on the optimal structure of the microfinance market and highlight a negative relationship between the degree of concentration of the microfinance sector and growth. In other words,to boost the the more economic concentrated activity themust microfinance therefore be sector a top is, priority the lower in developing its impact on growth. Encouraging the development of a competitive microfinance sector
Keywords:countries with a low access to the conventional financial sector.
microfinance, inequality, poverty, economic growth, competitiveness.
2021 75 Foreign versus local ownership and performance in the European Union: A Random Forest Approach Alexandra HOROBEȚ Bucharest University of Economic Studies, Romania Oana Cristina POPOVICI Bucharest University of Economic Studies & Romanian Academy, Romania Vlad BULAI Bucharest University of Economic Studies, Romania Lucian BELAȘCU „Lucian Blaga” University of Sibiu, Romania Eugen ROȘCA „Lucian Blaga” University of Sibiu, Romania
Abstract: Our paper proposes the machine learning Random Forests algorithm for classifying economic activity within the European Union, building on the relevance of a reduced set of variables alongside location and industry of origin for the differences in performance between foreign versus locally owned companies. The timeframe of our analysis is 2009-2016 based on Eurostat data. The model is encompassing 1,080 European Union business units, each froma diverse a different landscape sector, of industry,business andperformance region (Eastern within orEuropean Western Union part of that the Europeandoes not indicate Union) a and clear- operating cut dominance under foreignof foreign-owned or local ownership. companies We against find their locally-owned peers. Locally-owned companies from Eastern European Union have been more dynamic than their foreign-owned peers in the region, which suggests a process of learning from foreign competitors and business partners. The Random Forests model performs surprisingly well given the low number of predictors and indicates that personnel costs per employee is the most important variable that discriminates between foreign and locally-owned companies. The importance of the rest of the variables, including the regional location and the industry, has a relatively uniform distribution.
Keywords: EU, foreign company, local company.
76 2021 Machine learning in Electricity fraud detection in smart grids with multivariate Gaussian distribution Simona-Vasilica OPREA Bucharest University of Economic Studies, Romania Adela BÂRA Bucharest University of Economic Studies, Romania Niculae OPREA SC ICPE SA, Romania
Abstract: Smart meters allow electricity consumption readings at a high time resolution generating time series that can be investigated to extract valuable insights and detect frauds. Using a dataset with recordings from Chinese consumers, we propose an exploratory data analysis and processing to train several(XGB) and classifiers multi-layer and perceptron assess the results.(MLP) with Good two results layers are and obtained a relatively with ensemblesmall number classifiers of neurons. such as Real-consumption Random Forest (RF), dataset eXtreme daily recordedGradient Boostingin China consisting of over 42,000 consumers and over 1,000 days is processed with and suspicious consumers. In this paper, we will compare a simple feature machineengineering learning method ML that algorithms consists orin aggregatingclassifiers to the distinguish data, calculating between distances normal enhances the results and reduces the utility companies’ costs related to on-site andinspections. density function The results with are no featurecompared engineering, with AUC proving score and that ROC the firstcurves approach as the input data is highly skewed.
Keywords: machine learning, smart grid, Gaussian distribution.
2021 77 Characteristics of The Romanian Electricity Market Miruna VĂDUVA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The Romanian electricity market is very dynamic, on one hand due to the technological evolution that allowed the entry of several renewable energy producers to cope with the increase in electricity demand, and on the other hand due to political instability that causes unpredictable legislative changes. This paper aims to analyse and overview the structure and evolution of the Romanian power market starting with the whole market restructuration began in 1998 and continuing with all the little steps that the Romanian authorities have taken until today in order to align with European regulations in the energy markets. One of the most important steps that happened in this process is the complete liberalization of the market in 2007. This translated into improved talk about a long range of competitive markets that appeared after this change. safety, better costs, and resources efficiency for the market. Domestically we can Keywords: electricity, Romania, renewable energy.
78 2021 The influence of the Independent Non-Executive Board Members on the financial performance of the companies listed in the Bucharest Stock Exchange Aurelian-Bogdan MIHAIL Bucharest University of Economic Studies, Romania Carmen-Daniela MICU Envisia Boards of Elite, Romania
Abstract: This study examines the impact of independent board members on
Romania. The relevant corporate governance theories argue that the presence financialand higher performance shares of independent for listed companies members inon the a board Bucharest improve Stock the Exchange monitoring in and supervisory roles of the board. In return, these properties can be expected especially in advanced countries regarding the positive performance effects to create a stronger financial performance. There is a growing body of evidence ofby theexamining independent the case board of listed members. companies However, in therelevant Bucharest evidence Stock is Exchange. relatively scarceDetailed in board developing characteristics countries. data, The including present study board aims size, alongto fill withthis researchthe numbers gap of independent, non-executive, and women board members, are collected from the company sources. In terms of the performance indicator, the return share of independent board members have an ROE more than double the ROE on assets (ROE) is used. The results indicate that firms with an above-median for the firms with a below-median share of independent board members. The regressionevidence shows analysis that finds a higher that the share positive of independent effect of independent board members board membersimproves is robust to the inclusion of firm-specific control variables. Overall, the empirical in Romania. the financial performance of listed companies in the Bucharest Stock Exchange Keywords: governance, non-executive. financial performance, Bucharest Stock Exchange, corporate
2021 79 The history of Romania through its censuses. Milestones, data and current challenges in the digital age Constanța MIHĂILESCU Bucharest University of Economic Studies, Romania Mihai GHEORGHE Bucharest University of Economic Studies, Romania Adrian OȚOIU Bucharest University of Economic Studies, Romania
Abstract: have strongThe chances history to of know a country better reflected who we are in the and mirror to learn of from the censuses the lessons is an of approach with benefits for the society, because, if we know better our roots, we history of Romania, that of 2021. It will be conducted, largely with data from theadministrative past. We are sources,„knocking on on the the characteristicsdoor” the first mixed of the census population in the demographicthat already exists in these bases. For time-varying features, it will go on self-registration on a web platform, based on account and password, of those who have digital skills. For the rest, census takers will collect data according to traditional principles, but with advanced technique (laptops).
Keywords: censuses, Romania, digital age.
80 2021 Minitrack: Universities and community impact Minitrack Chairs: Magdalena IORDACHE-PLATIS, Vasileios NTOUROS Universities have always been preoccupied to increase their capacity to innovate in their region. Not only theoretical approaches developed around the concept of civic university and its impact, but also practical challenges for universities contributed to new institutional process development. In 2017, EU the importance of strengthening strategic partnership. Therefore, European leadersCommission proposed launched new approaches a European in theUniversity field of education Initiative and under culture ERASMUS+ revealing framework to enhance university cooperation at international level while addressing to societal challenges in local regions. “The COVID‐19 pandemic has shown that deeper cooperation across borders, disciplines and cultures is the only way to recover from the crisis and to build a resilient society.” (Commissioner Maryia Gabriel, ec.europa.eu) As a result of the European calls, several alliances have been established and started to implement new and innovative projects. This proved a tremendous of students, professors and societies. The university impact is no longer built interestonly on ofresearch universities based to exploresocietal theirimpact potential or research to develop result towards exploitation the benefit but get different forms of active engagement. Open labs and civic engagement working groups or task force demonstrate that learning from other institutional practices while directly addressing to the local needs is a great way to increase the community impact through innovative solutions. The main topics covered by the hereby call for papers are related (but not limited) to: • Civic engagement of higher education institutions • Open Labs and community impact • Sustainable university initiatives • Strategic partnerships for civic universities • Innovative projects for societal transformation • Role of students in civic universities • Universities’ responses to crises • Role of university spin-off companies in the societal development
2021 81 Magdalena IORDACHE‐PLATIS is full professor at the University of Bucharest with 30 years of experience, teaching Marketing, Micro and Macroeconomics, Leadership in the knowledge society context, vice‐rector for Quality Management, Social Responsibility and Relationship with Social Partners. She is an external reviewer on quality assurance for higher education at foreign quality assurance agencies and reviewer at different international journals, as well as a member of the Society for Business Excellence. She was a member of the Thematic Peer Group of EUA Teaching & Learning Initiative (2017): Empowering students for their future professional life and civic engagement and mini‐track chair at several editions of the European Conference on Management, Leadership and Governance – ACPI (2016, 2017, 2019, 2021). She was the country manager in the Horizon 2020 project called Students Achieving Valuable Energy Savings (SAVES 2) during 2018‐2021. Under the CIVIS project (ERASMUS+) she is the institutional coordinator of the Open Lab group aiming to cooperate with different stakeholders in the process of identifying and addressing to local challenges. She is also the institutional representative in the University Industry Innovation Network (UIIN). Main areas of interest include: academic leadership and university rankings, civic engagement of academic community, university‐industry cooperation, stakeholder commitment and student participation.
82 2021 Vasileios NTOUROS is a Researcher at the National and Kapodistrian University of Athens. He holds a MSc in Environmental Physics and his expertise is on Physics of the Built Environment. He has participated in several innovative EU funded projects (i.e. SmartGems, Quantum, SAVES2) focusing on the public’s engagement with the projects’ outputs. In his most recent position, Vasileios was the monitoring and evaluation lead of the EU‐ nominated SAVES2 H2020 project (2017‐2021) quantifying the impact the participating universities had on the behavioral change of their students as well as the energy savings achieved in university dormitories through tailor made informative campaigns. Vasileios has also worked for university spin off companies as a visiting researcher (i.e Consorzio Arca, Palermo, IT) seconded from his institution, to disseminate knowledge generated in universities to the wider public and thus increase the impact university research has to society. Lately, he acts as an advisor, supporting the actions and initiatives of other EU funded projects particularly in driving behavioral changes and civic involvement based on campaigns, training and serious games. The main research topics he attends are energy poverty, energy efficiency, students’ energy habits and behaviour change while his research interest expands to sustainable development, decarbonization as well as climate change mitigation strategies.
2021 83 Media Literacy Education and Digital Transformation. New challenges for civic universities Lidia SCIFO LUMSA University, Palermo, Italy Umberto DI MAGGIO LUMSA University, Palermo, Italy
Abstract: Goal 16 for a Global Sustainable Development promotes justice, peaceful and inclusive societies and provides access to justice for all and builds in a digital society (Lupton, 2014) and hate speech is a menace to democratic effective,values, social accountable stability and and inclusive peace haveinstitutions for individuals, at all levels understood (ONU, 2015). as Wevirtual live reality separated from real life. The world of social media is perceived as virtual, and therefore, it is not necessary to follow the standard rules of social necessary to translate sustainable development principles, and it is necessary behaviour,to educate respectto live according and civil tocoexistence. precise social However, rules througheven in virtualeducational reality, media it is literacy. Several studies show that people exposed to hate speech, hoax news, and religious intolerance on social media have low educational media
Therefore, it is necessary to increase media literacy education to minimize literacyprejudice levels and (MacAveneyreligious intolerance et al., 2019; and Muhid promote et al., social 2019; justice. Waqas etUniversities’ al., 2019). role, in this sense, such as the schools one, is manifold also in promoting peace and spreading peaceful development because all educational institutions have the task of educating to reflexivity, encouraging responsible citizenship and not merelyspeech into thetransmit universitary knowledge. social With media this and paper, the consequentwe propose civic to investigate, protagonism as researchersof the universities involved in their in the students’ academical education “RUniPace” and the Italian more general network, promotion the hate of a language and a consequent behaviour oriented to respect human rights and social justice.
Keywords: Civic University Hate speech, Social Media, Media Literacy, Media Literacy Education,
84 2021 Empowering Students to Save Energy Through a Behavioural Change Campaign in University Accommodation Vasileios NTOUROS National and Kapodistrian University of Athens, Athens, Greece Joanna ROMANOWICZ Students Organising for Sustainability, London, United Kingdom Constantinos CHARALAMBOUS University of Cyprus, Nicosia, Cyprus Ioannis KOUSIS National and Kapodistrian University of Athens, Athens, Greece Marina LASKARI National and Kapodistrian University of Athens, Athens, Greece Margarita‐Niki ASSIMAKOPOULOS National and Kapodistrian University of Athens, Athens, Greece
Abstract. Energy awareness campaigns are key in enabling students to become more aware of the impacts of energy use and effectively establish sustainable habits and lifestyle practices. They can provide a foundation of energy literacy and sustainability to students living in university dormitories and can help them reduce energy wastage even when they move out into the private sector. In this work we aim to investigate the impact of an energy awareness campaign, Student Switch Off (SSO), on university students by quantifying the behaviour changes that may be attributed to it. Changes in the behavior of students in participating dormitories were evaluated through four rounds of questionnaire surveys during the academic years 2018- 19 and 2019-20. In total, more than 9,000 students living in participating university accommodation, answered the on students. questionnaires. The findings show positive signs of impact of the SSO campaign Keywords: university students, energy campaign, energy saving, behaviour assessment.
2021 85 Organizational diversity, job performance and the mediating role of job satisfaction and employee commitment: A conceptual framework Victor Kwarteng OWUSU Tomas Bata University in Zin, Czech Republic Gregar ALES Tomas Bata University in Zin, Czech Republic
Abstract: Even though, for the past decade many research works have investigated workplace diversity, with more emphasis on primary diversity; age, race and gender, within organizational setting. Yet, what has been left out in most of these works is how employee commitment and satisfaction mediate the relationship between employee diversity and job performance. This study, therefore, sought to improve our understanding on the mediating role employee commitment and job satisfaction has on the relationship between employee diversity and job performance by using an academic setting as the study scope. This study is based wholly on the qualitative exploration; the researcher chose to espouse his methodology with document analysis as a research technique to achieve the main objective of the study. The document analysis centres on informationresult suggesting from that scientific there ispapers a positive picked relation up from between databases employee such diversity as SCOPUS, and WoS, ProQuest, and Google Scholar by keywords search. The research produced a and competence-based performance is strengthened by a third variable that is, competence-basedemployee commitment performance. and employee However, satisfaction. the relationship Consequently, between our diversityresearch contributions and recommendations for further research opportunities are
Keywords:underlined inDiversity, the final primary part of thisdiversity, document. performance, commitment, experience, satisfaction
86 2021 Artificial Intelligence in Greek Educational System Georgia KLEFTOGIANNI University of Piraeus, Greece Agni POURIKA Greek Ministry of Education, Greece
Abstract: Avant-garde educational systems are considered as far-sighted and forward-looking while they set the guidelines for inclusive education, empower respect for human rights and alleviate social inequalities. Innovative educational
(AI) can provide amazing opportunities for a country’s economy, but not systemsimplementing that incorporate updated relevant digitalization policies and on applications time, could ofbring Artificial in light Intelligence forms of socio-worldwide economic are examineddiscrimination in order due to the the bestdigital practises gap. In this to work,be recommended specific case studies of implementing artificial intelligence in traditional educational systems for incorporation in the Greek educational framework. More specific, the undergoing “Digital Revolution”, greatly influences the socioeconomic global context as well as the nationwide educational systems. Datafication in education, digitalconsideration rights, ethicsin order in toartificial form an intelligence, advanced educational algorithms curriculum, bias are all asdimensions proposed ofin this the Artificialwork. Regarding Intelligence the inchallenges Education posed (AIEd) by whichdigital haveapplications, to be taken another into aspect of this research is to also highlight possible policy interventions that could come together with the designation of a sophisticated new curriculum for the Greek educational system, honing students’ digital skills as well as their Information and Communication Technologies (ICT) competences driving them to thrive academically, personally, and professionally in an AI powered global environment. As this research proposes, universities, AI experts, educators and governmental assist are the key players who can bring into realization a new educational curriculum while qualifying students with digital skills and elevate Greece into an educational hub of the North-Eastern Europe.
Keywords: Curriculum, Policy in Education Artificial Intelligence, Education, Digital Skills, Educational
2021 87 Civic University Challenges in Romanian Higher Education: Students’ Perceptions on Civic Engagement Magdalena IORDACHE-PLATIS University of Bucharest, Bucharest, Romania
Abstract: The contemporary context has proved as a very complex environment which individuals, institutions and organizations must face due to the current institutions also had to rapidly adapt the teaching and learning processes, the pandemicresearch activity, and not only,and the no matter programs which for industry the society they development,represent. Higher based education on the institutional missions to the virtual and remote context. The current challenges of the civic university have determined several strategic decisions in Romanian universities due to the international alliances and European framework on civic engagement institutional networking. The paper aims to reveal how Romanian universities have adapted to the civic university approach. The study focuses on the civic university concept and characteristics and promote institutional practices based on leadership initiatives and on a research related to students’ perception on their civic engagement. The research is based on a theoretical- methodological approach based on the literature review, on a comparative analysis of institutional academic leadership decisions and on a questionnaire- based study in one university that has integrated the civic orientation in its university concept, on the prevalent Romanian university’s challenges under institutionalthis context; they mission. also Mainprove findingsthat students’ reveal perception main clarifications on civic engagement on the civic is dependent on their extracurricular experience.
Keywords: Civic university, civic engagement, community impact, academic leadership.
88 2021 Political correctness in higher education – hindrance or boost to the creative process? Monica GOT Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Since political correctness in higher education has become an issue of great public concern in recent years, the present paper focuses on the meteoric rise of PC in academia, as well as the more problematic topics of censorship in the lecture hall and the limits of free speech on campus. This article aims at shifting the conversation towards understanding the way in which the public expression has impacted creativity. Among the cascade of academic Westernand magazine universities’ articles increaseddeploring the permeability impending to death this of the free trend speech of regulating and even voices arguing that political correctness in fact nourishes creative tendencies, theby removing slightest the attempt counterproductive at dissent on tensions Western that college divergence campuses, might there bring are about also within a given group. In an attempt to address political correctness practices in institutions of higher education through the lens of creativity, this paper looks rules of conduct on campus, as well as by restricting the public discussion of atcertain the way topics in whichin the thelecture creative hall orprocess even banningis influenced certain by guestenforcing speakers certain from PC sharing their politically incorrect views on university premises. Since there is limited to no research in the literature on how the implementation of PC principles in institutions of higher education affects creativity, this paper’s attempted niche is tackling the way creative energy gets impacted by political essential to the extent that creativity is widely considered a valuable aspect in correctnessproducing innovation, in Western wh universities. ich in turn The is generally relevance regarded of such research as a crucial might element prove to a university’s success on the academic market.
Keywords: political correctness, higher education, censorship, creativity, free speech.
2021 89 Internationalisation of Higher Education: A View from the Bucharest University of Economic Studies Florina MOHANU Bucharest University of Economic Studies, Bucharest, Romania Viorela‐Valentina DIMA Bucharest University of Economic Studies, Bucharest, Romania Teodora Monica FULGA Bucharest University of Economic Studies, Bucharest, Romania Oana Mioara CÂRNICIANU Bucharest University of Economic Studies, Bucharest, Romania Maria‐Antoaneta LORENTZ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The present paper aims to provide up-to-date information on
Romanian topmost economic university – the Bucharest University of Economic the internationalisation endeavours undertaken in the last five years by the
Studiesdimension (ASE), since based its establishment on ambitious goals in 1913, set by and means then ofillustrate its “Internationalisation measures taken Strategy”since 2016 launched in four priorityin 2016. areas,We first where briefly constant refer to theprogress University’s has been international recorded: in-house internationalisation; internationalisation abroad; internationalisation of research; and consolidation of international prestige. For an extensive presentationOverview of Recent of the national Developments”. and international trends in the field, we kindly refer the reader to our previous article: “Internationalisation of Higher Education – Keywords: Internationalisation of higher education, in-house internationa- lisation, internationalisation abroad, international university rankings, Bucharest University of Economic Studies (ASE).
90 2021 Internationalisation of Higher Education - Overview of Recent Developments Magdalena CIUBĂNCAN Bucharest University of Economic Studies, Bucharest, Romania Viorela‐Valentina DIMA Bucharest University of Economic Studies, Bucharest, Romania Florina MOHANU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The present paper aims at identifying current trends in the internationalisation of higher education. We begin by acknowledging the need for continuously updating the definition of the phenomenon and the key dimensions it implies, so as to reflect developments across the globe. Next, we provide details on recent trends in the field in Europe, North America and Asia. We kindlywhere referwe discuss the reader the University’s to the second internationalisation article in the series: endeavours “Internationalisation undertaken of Higher Education – A View from the Bucharest University of Economic Studies”,
Keywords:since 2016, whenInternationalisation it launched its “Internationalisationof higher education, Strategy”. in-house internationa- lisation, internationalisation abroad, comprehensive internationalisation, virtual mobility.
2021 91 Civic Universities and Their Impact on Green Infrastructure Governance in Cities: A Principles-Based Framework for Human Well-Being Geta RÎȘNOVEANU University of Bucharest, Bucharest, Romania Dan BĂRBULESCU University of Bucharest, Bucharest, Romania Simona LUNGU University of Bucharest, Bucharest, Romania
Abstract: The fast growth of the human population and its preference for living urban resilience and sustainability objectives. In the transition toward resilient incities, urban the areas concept pose of a ecosystem great challenge services on offeredgovernance by natural to find systems solutions is consideredaddressing and the well-being of human communities. This paper presents and discusses anthe efficient main components tool of interconnection of a conceptual between framework the components designed to of guide natural the capital urban planning and governance response to urban ecosystem services concept and societies. Mapping the natural systems and identifying and evaluating implementation.the range of services The role they universities provide mayby involvingplay to benefit different students, socio-economic professors environmental and economic policies, urban plans and urban development actorsstrategies) (including are presented those in as the crucial field ofpreliminary development steps and to implementation raise awareness, of identify trade-offs and prioritize urban planning goals. The relevance of the toward resilient cities, conditions and means of concept implementations, and scientificaccountability knowledge of urban and planning expertise are in discussed. defining Theactions proposed and alternative framework options in this paper may help universities to frame and strengthen their strategic partnerships with the decision-makers and other relevant stakeholders in urban areas, promote renewed curricula and different forms of active civic engagement and infrastructure in the region. produce human capital assets in the field of the governance of urban green Keywords: urban ecosystem services, universities, civic engagement, resilient cities, sustainability, blue- green infrastructure.
92 2021 COVID-19 Impact on International Migration Ihab S KH JWEIDA Bucharest University of Economic Studies, Bucharest, Romania
Abstract. COVID-19 created many problems around the world and it affected everybody including migrants and immigrants. Many countries halted asylum seeker procedure in order to stop COVID-19 spreading but some countries restarted asylum seeker procedure since many people were in dangerous situation and they needed protection. Migrants and immigrants are highly vulnerable and can be infect by COVID-19. Many organizations especially international Organization played and are playing very important role to protect them against COVID-19. Migrants are working in frontline, they are in contact with other people, and the risks are very high to infect by COVID-19. Many of them hit globally very hard because of the COVID-19 especially due to the economic shut downs for example food, accommodating and personal services. Many countries closed their borders and they halted asylum seeker procedure. The number of restrictions and measures that imposed on migrants and immigrants reached 4600 around the world. Many countries imposed travel ban especially on new comers.
Keywords: COVID-19, Migrant, Immigrant, Restrictions, International Organizations
2021 93 Urban Natural Areas, from Nature Conservation to Well-being Assets Simona LUNGU University of Bucharest, Bucharest, Romania Geta RÎȘNOVEANU University of Bucharest, Bucharest, Romania
Abstract: The increased density of the human population globally and the negative impact of some human actions put pressure on the components of natural capital and its ability to regulate and support the effects of human activities. The high complexity of urban systems, multidisciplinarity of issues and multiple impacts they face (resulting from overpopulation, pollution, climate change and, more recently, pandemics) pose an increased challenge for the management of urban agglomerations. In this context, terms such as resilience and sustainability or environmental protection are increasingly used in public administrations. In this review, we want to highlight the importance of green students’ play in identifying and raising awareness on the services that natural urbancapital areas offers in to providing human communities. cultural and regulating The reviewed benefits literature to society emphasizes and the role the multifunctional role of urban natural areas, including biodiversity conservation
Despite the general recognition of the positive role of civic engagement for and provisioning of benefits essential for human population well-being. review revealed the limited civic engagement of universities in assessing and the development of highly qualified and better adapted human resources, our noticed an increased interest of universities to grow their impact on society and raisinggive students awareness opportunities on the role for of civic the green engagement. areas for urban communities. We also
Keywords: urban natural areas, stakeholders, ecosystem services, students, social factor
94 2021 The mediating role of the students’ ability to adapt to online activities between perceived university culture and academic performance Alina Mihaela DIMA Bucharest University of Economic Studies, Bucharest, Romania Mihai BUȘU Bucharest University of Economic Studies, Bucharest, Romania Vanesa Mădălina VARGAS Bucharest University of Economic Studies, Bucharest, Romania
Abstract: In this article, the authors develop an econometric model to determine the impact of online academic activities on the degree of performance of the students, based on the ability to adapt to the online activities. The data were collected using a questionnaire addressed to university students in Romania and were analyzed using the statistical software Smart-Pls 3.3.2. Starting performance model in carrying out online activities in online system. These withindicators the literature are independent in the field, variables the paper that identifies model the the impact drivers of onlineof the academicactivities presented in the article, emphasizing that the academic performance indicator onis the academic direct andperformance. intrinsic result The conclusions of the collaboration of the study of confirmseveral factors,the hypotheses such as personal needs, system variables, regulatory framework, personal commitment, while the ability to adapt to online activities has a moderator effect between independent variables and the academic performance. Identifying the determinants that contribute to increasing academic performance through online activities in online system is relevant for the human resource management of the universities, to capitalize on positive aspects, such as the ability to involve students in online activities, reward them for their work and to prevent their resilience to change.
Keywords: online academic activities, academic performance, ability to adapt, Covid-19, psychological impact, econometric model, PLS-SEM.
2021 95 Academic journals’ performance – opportunities for research visibility Isabelle BICLEȘANU Bucharest University of Economic Studies, Bucharest, Romania Alina Mihaela DIMA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Researchers prefer to disseminate their work through high quality journals. For some, publishing in a prestigious journal might ensure a promotion
Central and Eastern European (CEE) region, such publishing options for Core orEconomics the international research are recognition scarce. This they paper need investigates in their career. the performance However, inof the success factors in improving journal performance, by assessing these journals’ Core Economics journals published by the CEE countries and identifies the main paper citation data, as well as through information provided on the journals’ experienceswebsites. CEE based journals’ on Journal data wereCitation extracted Reports from key indicatorsthe Journals and by Web Rank of Sciencesection search on the JCR platform returned 19 journals. The key indicators analysis of the Web of Science (WoS) InCites Journal Citation Reports (JCR) platform. The the IF for 2019, the total cites in 2019, the citable items published in 2019 (i.e. lookedthe number at the of AIS articles evolution and reviewsin the past published five years in 2019),(i.e. the the 2015-2019 immediacy period), index for 2019 (i.e. the average citations per article published in the past year), publishing at prestigious publishers, (3) inter-university partnerships, and (4) andjournal the managementrank based on and the publishing 2019 IF. Journalssoftware benefitingcould potentially from (1) achieve funding, higher (2) performance.
Keywords: academic journal, bibliometric, core economics, research visibility.
96 2021 Higher Education and Its Role for National Development Thi Hoai Trin NGUYEN Bucharest University of Economic Studies, Romania
Abstract: This paper focuses on 50 publications to extract relevant insights to clarify the role of higher education in a country’s development by using a systematic literature review. The results show that higher education plays a role in national development through its impact on human resources, economic growth, economic restructuring, and other social problems. Recognizing the importance of higher education in the context of the economy deeply integrated with the regional and global economy, this research also proposes orientations to promote the role of higher education to meet the requirements of the Industrial Revolution 4.0.
Keywords: higher education, national development, industrial revolution 4.0.
2021 97 Minitrack: Global Challenges for Agri-Food Systems and Sustainable Development Minitrack Chairs: Mariarosaria LOMBARDI, Diego BEGALLI, Simona Roxana PĂTĂRLĂGEANU Since 1987, the sustainable development became both an aim and a requirement for all societies, in order to tackle the global and local challenges. The global related to climate change, population growth, increased urbanization, high levels challenges, which emerged also in the agri-food and environmental fields, are resources, high levels of waste and losses, rises in pollution, increased natural ofand production biological risks. and consumption, The local challenges inefficient could distribution, refer to unsustainable depletion of cultural natural behaviours and attitudes, the relationship between the budgetary limitation and prices, as well as different local problems in terms of infrastructure, natural resources etc. Thus, lately, the international policies and research are focusing on promoting and developing sustainable food systems for ensuring food security and safety for the present and future generations. Also, the environmental pillar of sustainability is addressed in all sectors of economy. There is a common acknowledgement and emphasis on the need of integrating the policies from different sectors by implementing intra and cross-sector measures. For example, the food policies should be integrated with the health, economic and environmental ones for ensuring the sustainable development of the agri- food systems. Further, many scientists, policy makers and other stakeholders propose and debate several ways of overcoming the environmental worldwide challenges, by looking into sustainable use of resources and waste, developing sustainable cities and communities and ensuring the well-being of humans and Earth, as a whole. The main topics covered by the hereby call for papers are related to: • Food and drink supply and demand • Food safety and food security • Sustainable food systems • Sustainable food production and consumption • Sustainability in the agri-food business • Environmentally sustainable businesses • • Circular economy Human health and well-being • Climate change • Pollution (e.g. soil, water, air, noise) • Biodiversity loss
98 2021 • Nature health and well-being • Sustainable management of natural resources • • Renewable energy topics Waste management • Green buildings and green cities • Green policies • Green investments and competitiveness • Green labelling and taxation • Sustainable development • Other topics related to agri-food and environmental economics
2021 99 Mariarosaria Lombardi has been assistant professor in the scientific area of Commodity Sciences at the Department of Economics, University of Foggia (Italy) Since 2006. Graduate in Economics, she took Ph.D. in Commodity Sciences at the University of Bari (Italy). She mainly deals with economic and environmental aspects of innovations applied to production processes. Since 2015, she has been member of the rural hub Vazapp, that is applying social innovation in agriculture. In 2019, she became “climate shaper” as certificated by FAO and Future Food Institute.
100 2021 Diego Begalli studied Agricultural Economics at Bologna University (Italy). After graduating his Phd studies in Food Economics and Policy at the University of Padua (Italy) he become, first assistant professor and then associate professor at the University of Udine (Italy). In 2000, Diego Begalli was appointed Professor of Rural Economics and Appraisal at the University of Udine and since 2002 he holds the Chair of Agri‐food Economics at the University of Verona (Italy). He was head of Inter‐university Department of Viticulture, Oenology and Wine Business between the University of Padua and Verona in 2003‐06. He was chair of several master and post‐graduate courses in the fields of wine Business, wine and food marketing, and agribusiness. He had the scientific responsibility of several national and European research projects with special regard to environmental and rural development policies, the management of sustainable development processes in the agri‐food system, the impact of climate change on farm revenues, the value of territorial food systems in the regional and national economy. Since 2017 he is the vice‐director of the Department of Business Administration of the University of Verona (Italy), where since 2019 he is also Pro‐Rector for the Knowledge Transfer.
2021 101 Simona Roxana Pătărlăgeanu Associate Professor, PhD, studied Agrifood and Environmental Economics (EAM) at the Bucharest University of Economic Studies. Vice‐dean of the Faculty Agrifood and Environmental Economics, her research is situated in the field of Eco and Agrifood Economics and Decision Making.
102 2021 Sustainable Development Disparities in the EU-27 Based on R&D and Innovation Factors Marius CONSTANTIN Bucharest University of Economic Studies, Bucharest, Romania Mihai DINU Bucharest University of Economic Studies, Bucharest, Romania Simona Roxana PĂTĂRLĂGEANU Bucharest University of Economic Studies, Bucharest, Romania Cristian CHELARIU Suffolk University, USA
Abstract: Ever since it was adopted in 2015 by the United Nations Member States, the 2030 Agenda for Sustainable Development has acted as the main guideline for European Union Member States in regard to achieving economic prosperity, environmental sustainability and peaceful, inclusive and innovative societies. Still, in the race for sustainable development, some European Union Member States are ahead of the others – not only as far as meeting the Sustainable Development Goals is concerned, but from the perspective of the R&D and innovation factors as well. In this context, the objective of this research was to study sustainable development disparities between the EU- 27 Members, based on the previously mentioned factors. A cross- sectional multiple linear regression model was constructed to facilitate an in-depth look at the observations. The econometric analysis was carried out based on the Global SDG Index, the Global Innovation Index and on the percentage of the gross domestic expenditure allocated to R&D activities. Although the transition to the sustainable development paradigm requires modern and disruptive approaches at country level, the literature is not rich on papers fully covering the nature of the existing link between the variables included in the proposed
Europe are leading the change to a more innovative and sustainable path for econometricthe European model. Union. Results Before show the COVID-19 that countries pandemic from Northernoutbreak, andno EuropeanWesteren country was on track to meet the Sustainable Development Goals, yet Central pandemic still represents a major setback for all EU-27 Members in regard to andmeeting Eastern the targets European of the Countries 2030 Agenda demonstrated for Sustainable improvements. Development However, in time. the
Keywords: sustainable development; SDG index; innovation index; R&D
2021 103 A Hierarchical Pyramid for Food Waste Based on a Social Innovation Perspective Mariarosaria LOMBARDI University of Foggia, Foggia, Italy Marco COSTANTINO APS Farina 080 Onlus, Bari, Italy
Abstract: mankind today; thus, the UN Agenda 2030 for Sustainable Development establishesFood that wasteit must (FW) be halved represents by 2030. one European of the greatest Union concernslegislators facing have taken part in this debate by publishing Directive 2018/851 to monitor the FWregard reduction the associations goals, according between to the the level waste of waste-tackling hierarchical pyramid strategies approach. and social At present,innovation there (SI) are models. several Thus, proposed this study FW hierarchicalaims at building pyramids, a hierarchical but these pyramid do not that considers, for each step of the food-supply chain and each level of the pyramid, all the FW social innovation models. A qualitative analysis of academic studies, institutional documents, and specific projects has been conducted. The results confirm the gap in the scientific literature and the lack of a systematic classification of SI activities to reduce FW. Furthermore, current SI practices are actuallydimension. more This focused information on the will human help reusepolicymakers of FW than to reconsider on prevention, the structural whereas SI models based on prevention might return the FWL issue to its systematic
Keywords:causes of FW food inside waste, the socialagro-food innovation, system, UNand Agenda not only 2030. its final consequences.
104 2021 The Lack of Competitiveness of Agricultural Subsidies Granted by the Common Agricultural Policy Alexandru IONAȘCU The National School of Political and Administrative Studies, Bucharest, Romania
Abstract: The Common Agricultural Policy is one of the most important policies of the European Union. This policy has reserved most of the EU budget and had profound effects on agricultural structures, employment, while having a major economic, social, political and environmental impact. In this paper, I analyse the effects of direct payments granted by the CAP, from the perspective of economic questions I address are wondering if the direct payments system is a really competitiveness,support for the farmers? but I also To challengewhat extent the do efficiency they contribute of this system. to increasing The main the the role of competitiveness and are not an element of sustainable development. tradeAs I will deficit? show, Anothersustainable hypothesis investments I tested are betteris that and direct the paymentstransformation undermine of the future CAP should take into account the transfer of funds from direct payments to an increased budget for investment projects.
Keywords: Common Agricultural Policy; European Agricultural Guarantee Fund; European Agricultural Fund for Rural Development; competitiveness; multifunctionality.
2021 105 Treatment of biodiversity in the European current context Mihaela ŢIFUI Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Biodiversity loss is the second environmental challenge of the third policy development, biodiversity loss is continuing. The necessity of quantitative millenniumassessment afterbecomes climate more change. and more Although obvious significant for a harmonious progresses wereperformance made in of the science-policy interface. The paper addressed this topic by reviewing the most recent European progresses in indicator development. Thus were discussed the milestones of nature conservation policy in Europe as background proposed considering CBD and EEA indicators and also data availability and will andbe further the first developed set of indicators considering proposed the policy within relevance. the SEBI initiative. This set was
Keywords: biodiversity, indicators, ecosystem management, EU, SEBI
106 2021 Sustainable Development of the Agricultural Sector. Case study: The Romanian Wine Sector and The Romanian Organic Agricultural Sector Liane TANCELOV Bucharest University of Economic Studies, Bucharest, Romania Corina Simona DOBRE Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Pressures on agricultural resources have increased due to growing food and industrial demand in part due to demographic and income changes. Sustainable agriculture is a concept based on different pillars that include the need to nurture healthy ecosystems and support the sustainable management economic equity. In order to achieve agricultural productivity in a sustainable ofway land, it is water important and natural to meet resources the environmental while ensuring and climate profitability challenges and socialregarding and food security, quality and sustainability. The Romanian wine sector has a massive potential, which should be valued in a sustainable way in order to profound changes that echoes in the Romanian wine sector as well. In order to achieveface these an challenges, efficient development. the Romanian Nowadays, wine sector the must global concentrate wine industry on its is futurefacing to achieve sustainable development goals. In addition, the Romanian Organic agriculture has great potential of development that serves both the domestic has the chance to develop the organic sector, based on the EU funding. Investing andin organic foreign farming markets. is Startingtimely and from strategic. the new The EU financialorganic sector frameworks, can prevent Romania the loss of biodiversity; improve the ways of living of all actors in the food value chain, and help farmers move to more sustainable agro ecological practices. The ways of action for the sustainability of the sector should target the area of standards for competitive sustainability and the protection of human health in close connection with the one health concept. The article focuses on the Romanian wine and organic agricultural sectors and the need to achieve a sustainable development in order to face future challenges. Keywords: sustainable development, wine sector, organic agricul- ture, global challenges.
2021 107 The Impact of Covid-19 On Food Prices in Romania Lăcrămioara Alina DRĂCEA Bucharest University of Economic Studies, Bucharest, Romania Daniela MĂRĂCINE Bucharest University of Economic Studies, Bucharest, Romania Iulia OPREA Bucharest University of Economic Studies, Bucharest, Romania Maria GIRIP Bucharest University of Economic Studies, Bucharest, Romania Nicolae SUVOROV Bucharest University of Economic Studies, Bucharest, Romania
Abstract: During the pandemic caused by the SARS-COV-19 virus, the agri- food sector in Romania and Europe suffered due to the consumer market and the restrictions imposed to reduce the spread of the virus. Consumer prices in Romania in 2019 were optimal in terms of consumer price index, but also the aggregate consumer price index. Given the current situation and the obligation to adapt to the new conditions for a good development of the supply and purchase ofprices, food salesproducts of agri-food for the population, products in the Romania? questions These to be aspects answered will beare: the “How subject did COVID-19of the analysis impact of thisthe article,food market as well in as Romania?” other relevant and “What aspects is thatthe evolutionidentify the of impact of the pandemic on the Romanian market and the repercussions that among the civilian population. followed to combat a food crisis at a national level, but also a financial crisis Keywords: COVID-19, price, consumption, market, evolution
108 2021 Local Action Groups implications in rural Romania Nicoleta (MARIN) ILIE Bucharest University of Economic Studies, Bucharest, Romania Iulia Alexandra OPREA Bucharest University of Economic Studies, Bucharest, Romania Vlad Constantin TURCEA Bucharest University of Economic Studies, Bucharest, Romania Vergina CHIRIȚESCU Local Action Group Făgărașul de Sud, Ținutul Posadelor, Domnești, Arges, Romania
Abstract: Common Agricultural Policy is known to determine most of the present changes in Romanian agriculture. Local development strategies are currently representing a viable solution to uplift rural potential. The European LEADER axis through its cross-sectional structure, contributes to each nation’s programmes, a measure that focuses on offering additional opportunities for ruralsustainable development development identified for ruralobjectives communities, across both taking national care ofand the international local needs, aiming directly at caring for cultural heritage, economic development and strengthening group organizational skills. Current paper aims to highlight the importance of Local Action Groups for rural citizens in Romania. These essential groupings are of important relevance for rural communities since they bond addressing measures to enhance the socio-economic situation.
Keywords:
LAG, rural development, financing, income, LEADER.
2021 109 The Need for Blockchain Technology in Agriculture: Opportunities and Challenges Ilinca‐Andreea MARIN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Developed in 2008, blockchain is primarily a technology for storing and transmitting information. This technology offers high standards of transparency the blockchain allows its users - connected in a network - to share data without andan intermediary. security because In this it operates paper I will without analyse a central the impact control of body.Blockchain More specifically,technology and its applications on agriculture, as well as how this system works in order chains. The route of goods from producer to consumer it is known as a complex to improve the efficiency, transparency and traceability in agricultural supply technology contains records and details of transactions along the route to onehelp thatfully makesdistribute it difficult the goods to trackand reduce and manage cases of goods. fraud However,or illegal harvesting. Blockchain This technology works on the basis of information called blocks, which are make it possible to record and share information securely, transparently and veryat maximum difficult speed to modify between or hack. farmers, All theseconsumers features and of retailers. Blockchain All data technology stored can be visible to all participants in real time, having the possibility to approve or reject the information. Once the data is validated, it is recorded in blocks, which canstakeholders be organized from in the a agriculturalchronological area chain and thatin trying cannot to buildbe modified technical by solutions anyone. Theacceptable purpose in of both the nationalarticle is and to promote European the perspectives. benefits of blockchain technology to
Keywords: agriculture, blockchain technology, innovation, digitalization in agriculture
110 2021 Sustainable development of a PDO or PGI form the voluntary scheme „traditional product” Daniela POPA Bucharest University of Economic Studies, Bucharest, Romania Cătălin‐Ionuț NICA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: be trackedThe back European to 2003 andUnion is particularlyintroduced in linked its regulations, to the implementation for the first time of the in 1992,European the termacquis, of traditionalwhen a list agri-of national food. In products Romania, was the sent first to use the of EU. this Nowadays term can Romania has a traditional voluntary quality scheme recognized at EU level and more than one product registered according to the EU quality schemes. Any Romanian or European can register a product under the voluntary scheme in the National Registry of Traditional Products and will receive from the Romanian
Romanian product registered in the national voluntary quality scheme by more ministry of Agriculture a certificate and the right to use the national logo. A scheme. The paper’s objective is to analyze the legal framework of the Romanian thanvoluntary one producer scheme in can comparison easily be identified with the European and developed quality in schemes:a European Protected quality Designation of Origin (PDO) or Protected Geographical Indication (PGI), in order to identify common ground between the two documentations. Also, the as the advantages after registering a product as European quality scheme. In advantagesorder to accomplish of registering the objectives,first a product a comparative as traditional study will behas presented, been developed as well and secondary, certain models have been presented. International and national literature has been taken into account. The result of the research is useful for small producers as it reveals how to transform a traditional product registered in Romania into a European quality scheme, using the documentation prepared nationally as a basis. A case study for the registration of the PGI „Cașcaval de Keywords:Săveni” will Europeanbe used as quality model scheme, to illustrate agri-food, the pathway traditional for theproducts, producers. legislation, rural development.
2021 111 Risk Management of Agri-food Value Chains – Exploring Research Trends from the Web of Science Irina‐Elena PETRESCU Bucharest University of Economic Studies, Bucharest, Romania Raluca IGNAT Bucharest University of Economic Studies, Bucharest, Romania Marius CONSTANTIN Bucharest University of Economic Studies, Bucharest, Romania Mihai ISTUDOR Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Risk management has always been considered of high importance when approaching the topic of agri-food value chains. By design, the agricultural and food systems are challenging, especially for small farmers and SMEs. This from carrying out small-scale agricultural activities with technologies less isperformant due to the or high innovative degree thanof uncertainty those owned involving by multinational the success corporations of making activeprofit risk management studies focused on methods designed to anticipate, prevent in the agri-food system. In this field, the literature is broad – there are numerous activities carried out with the aim of adding value along the agri-food chains. andThe mitigateaim of this the research negative waseffects to exploreof future emerging threats that research could trendssignificantly concerning affect risk management approaches in the literature related to agri-food value chains. In this regard, a comparative bibliometric analysis was carried out based on the
A specialized software program, VOSviewer, was used to map research interest researchconvergence papers and indexed divergence in the points. Web Resultsof Science show before a paradigm and after shift the causedyear 2015. not only by the need for a sustainable approach of risk management in the case of the global agri-food value chain, but results also show a paradigm shift concerning the management of creating and co-creating value along the agri-food chains.
Keywords: risk management; agri-food value chains; research trend; bibliometrics
112 2021 Romania’s agro-food sector: issues of cluster development and competitive Positioning Ionuț SĂRĂCUȚU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: as catalysts for competitiveness based on innovation and internationalization. European Economiccountries theoryare facing and theinternational challenge practiceof becoming confirm prosperous the role of societies clusters continuously developing agricultural resources. Mobilizing agro-food actors basedtowards on a modern, clean and competitive circular economy, and efficient through economies in-depth cooperationin terms of use along and trade are channels such as the use of new technologies, implementation of sustainable solutions plus innovation are critical for achieving the goal of increasing productivity and responding to globally growing demand for agro-food products. At regional level, clusters play an important role in making smart specialized operational strategies, facilitating SMEs’ access to global markets. This paper aims to identify Romanian agro-food clusters and their competitiveness ss on many agro-food clusters are established in Romania and in which regions of the thecountry? international Is cluster markets formation and anis dueengine to answer for the todevelopment the following of question:the Romanian How agro-food sector? Are local clusters internationally competitive?
Keywords: agro-food sector, clusters, agriculture, Romania, competitiveness, development.
2021 113 Minitrack: Financial perspectives in turbulent times Minitrack Chairs: Erich Walter FARKAS, Emilia CÂMPEANU tomorrow.” Therefore, it is necessary but not enough to understand today’s The worldwide actions “are not good today, if yesterday did not think of innovation. Creativity and better services with low risks and high performances world and rely on data and scientific research results to adapt to a new era of competition is strong while the demand and supply diversity is continuously willdriven lead by toperformances. thinking out of the box especially in the finance domain where restarting and high-performing strategic goals. These impose the need to The finance’s functions, priorities, challenges and capabilities are driven by forward-looking approches. The continuous improvement and innovation in a understandcompetitive thatenvironment traditional are financial the remedy aspects of a canbalanced indicate attention misleading to critical signals areas for of business and governments measures with a more oriented focuse to human perspective. The broad changes induced by technologies and digitization require new approaches to finance whether we refer to individuals, organizations and Thegovernments. main topics Therefore, covered bythe the academic hereby callcommunity for papers and are scientific related to: research can make genuine contributions to financial pressures. • • Banking Risks and financial services • Capital markets • Asset management • Insurance • • Sustainable wellbeing Corporate finance • Fiscal sustainability • Public policies • Taxation
114 2021 Erich Walter Farkas is Professor for Quantitative Finance, Department of Banking and Finance, University of Zurich (Switzerland). He has PhD in Mathematics, with Summa cum laude, at Friedrich‐ Schiller‐University of Jena (Germany) followed by Habilitation in Mathematics and Privat Dozent at Ludwig‐Maximilians‐University of Munich. Also, he is involved in other activities as Program Director at UZH ETH joint degree for Master of Science in Quantitative Finance, UZH Certificate of Advanced Studies in Risk Management for Banking and Finance, Swiss Finance Institute, Center of Competence Finance in Zurich (CCFZ). At Swiss Risk Association, Professor Farkas is Co‐president. His research activities focused on valuation of options, measuring risks, capital requirements, defaultable securities, behaviour finance, stress testing, and asset management. Professor Farkas has experience as manager of grants such as MC‐IEF – Intra‐European Fellowship (IEF), Sciex‐NMS Fellowship, and joint proposal financed by The Swiss National Science Foundation. His expertise in quantitative finance and mathematics is highlighted by the press. For more details: https:// people.math.ethz.ch/~farkas/.
2021 115 Emilia Mioara Câmpeanu studied Faculty of Finance and Banking at the Bucharest University of Economic Studies and is Professor with expertise on public finance, fiscal policy, government budgets and public debt. Also, she is vice‐ dean of the Faculty of Finance and Banking with responsibilities for scientific research, development and innovation. Also, she has experience as principal investigator and member of research project (national and international) and a vast publishing activity materialized through books and published works.
116 2021 Economic sentiment perceptions during COVID-19 pandemic ‒ a European cross-country impact assessment Iustina Alina BOITAN Bucharest University of Economic Studies, Bucharest, Romania Emilia Mioara CÂMPEANU Bucharest University of Economic Studies, Bucharest, Romania Sanja Sever MALIṦ University of Zagreb, Croatia
Abstract: An increasing body of recent literature focuses on how stock marketthe economic investor sentiment sentiment and fluctuates expectations during during the pandemic. COVID-19 However, pandemic, a topicas a insufficientlybroader concept addressed than stock is related market to investors’ investigating perception the changes and expectations. occurred in The paper investigates the impact of COVID-19 pandemic on the economic sentiment pattern in European countries, through two complementary research approaches: an exploratory data analysis technique and a deterministic panel regressionconsumers’ framework. current economic Several and official employment survey-based perceptions confidence and expectations indicators are on includedfuture developments. in the empirical The clustering analysis to solution comprehensively indicates increased reflect businesses heterogeneity and among European countries and no stable group. The sentiment related to the employment consequences of the COVID-19 crisis records the sharpest fluctuationproxy variable, and as is it reflected determines in countries’the evolution classification. of most sentiment The panel indicators. regression findings reveal that the number of new deaths is the most influential COVID-19 Keywords: pandemic, cluster analysis, panel regression. economic sentiment, confidence index, expectations, COVID-19
2021 117 The impact of COVID-19 on activities of banks: Evidence for Bulgaria Kamelia ASSENOVA University of Ruse, Bulgaria
Abstract: The COVID 19 pandemic is causing unpredictable disruption in global economy. The pandemic affects on every sectors of economy. As a result of this virus, the world economy is weakening, also in Bulgaria. The banking sector is important component of every economy. The banks have fundamental role as provider of payment services, liquidity and funding to the business and individuals in the time of COVID- 19 crises. From one side, during COVID crises most of the governments realized schemes for recovery, based on easy access to the credit for business and households, state guarantees of them, low interest. It has made to be easy passed through the crises. From other side, banking sector will play important role by the recovery of economy. It is trough more for small and open economy as Bulgarian. This paper aims to examine the impact of COVID on bank liabilities and assets during the crises and their role by recovery of the economy. The banks are now better capitalized compared with crises in 2008. Such crises usually leads to massive withdraw of deposits from household and business. For households, it comes from purchases of medicine and food and due to precautionary motive. The business reduces its deposits, because not enough purchases and receivables. At the same time, the government implemented relief measures such as suspension of loan repayments for affected customers or some other forms of moratorium on payment of credit obligations as well as actions to ensure companies continue to have access to credit in exceptional circumstances.for restarting of The business. firms Theneed risk the during usage the of lendingCOVID crises to cover raises inequity and the between quality in-of credit and outflows, portfolio decide will deteriorates, their liquidity increase problems nonperforming and ensure theloans. working capital
Keywords: COVID-19, economic cycle, banks, credit.
118 2021 Detecting Anomalies in Systemic Risk Measures Radu LUPU Bucharest University of Economic Studies, Bucharest, Romania Alexandra HOROBET Bucharest University of Economic Studies, Bucharest, Romania Dan Gabriel DUMITRESCU Bucharest University of Economic Studies, Bucharest, Romania Iulia LUPU Romanian Academy, Bucharest, Romania Lucian BELASCU “Lucian Blaga” University of Sibiu, Sibiu, Romania
Abstract: mitigate systemicThe field risk of phenomena. financial stability The ability generated to estimate several these measures indicators applied at toa daily all financialfrequency institutions feeds the investigation in pursuit of their the bestpropensity policy to mix exhibit necessary irregular to patterns, which might correspond to periods with systemic events and signal the dynamics of the main systemic risk measures (CoVaR, Delta CoVaR and MES) triggers of regulatory interventions. This paper identifies abnormal periods in the STOXX 600 index. The analysis employs a methodology that relies on a neural for financial institutions listed on the European Stock Exchanges and included in network specification, which allows for identification of time series patterns, generallyour sample referred could provide as ‘anomaly a new detection’ systemic in risk the indicator.field of Artificial Intelligence. The measurement of simultaneity of these anomalies across financial institutions in Keywords: jumps, anomaly detection tools, early warning systems.
2021 119 Lucky trading rules Dan Gabriel ANGHEL Bucharest University of Economic Studies, Bucharest, Romania
Abstract: procedures Weconcerned estimate with the the proportionoverperformance of false of speculative discoveries trading caused rules. by methodologicalOur main contribution choices is andto show finitesample that a bearish limitations tendency in of multiple lucky rules testing in downward trending markets explains the vast majority of false discoveries for a wide variety of testing conditions. This bearish preference effect dominates spurious correlation, which has previously been thought to be the main driver behindthat the data associated snooping. data We snooping also find bias that should methodological be very persistent adjustments in empiricaldesigned totests. control Among for others, this effect our resultsdo not hintsignificantly that evidence decease showing false discoveries, time-varying showing market biased. Also, they imply that the previously documented merit of speculative inefficiencies,trading rules aswhich a risk center management on important aid in downtrends timing exit in points the data, around may thein fact onset be of bear markets could be a product of luck rather than true economic relevance. The results obtained in a data-snooping-free investigation on the empirical market support this conclusion. performance of speculative trading rules in the ‘less efficient’ cryptocurrency Keywords: Lucky Trading Strategies, Spurious Correlation, Data Snooping,
False Discoveries, Efficient Market Hypothesis, Cryptocurrency Market
120 2021 The impact of fiscal freedom, government effectiveness and human development index on VAT GAP in European Union level Ionela BUTU Bucharest University of Economic Studies, Bucharest, Romania Petre BREZEANU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The present study analyses the value added tax (VAT) from the such as tax evasion, exemptions and reduced rates. According to the European perspectiveCommission of (2020) the level within that EU,the statethe VAT cannot Gap collect (the difference due to influencing between factorsVVTL- the VAT total tax liability and VAT actually collected) reached round EUR 140 billion. As VAT Gap cannot be ignored, each country is focusing to tackle VAT fraud and to constraint the size of this phenomenon. The aim of this paper consistsvariables of and analysing VAT GAP the % relationship of VTTL, as abetween dependent fiscal variable freedom within (FF), EU government countries effectivenessduring 2000 - (GE),2018. andIn the human study, developmentwe developed index 3 econometric (HDI), as models, independent using panelby states data to regression tackle VAT with fraud fixed in order and random to minimize effects, the aiming amount to pointof VAT up Gap. whether these three independent variables are significantly in strengthening strategies Keywords: effectiveness, human development index. tax evasion, VAT fraud, VAT Gap, fiscal freedom, government
2021 121 Fiscal pressure in Romania and the influence of value added tax Raluca Andreea GHEȚU Bucharest University of Economic Studies, Bucharest, Romania Petre BREZEANU Bucharest University of Economic Studies, Bucharest, Romania Cristina‐Simona CĂPĂȚÂNĂ (DUMITRACHE) Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Fiscal pressure is an economic phenomenon, tolerated by natural or legal persons within certain limits, that expresses the intensity with which a percentage of the population’s income is taken through direct or indirect taxation. shows the taxpayers’ burden towards their obligation to pay taxes. Because of Forthe needthe Romanian or the desire economy, to oppose fiscal thispressure economic is an phenomenon,extensive indicator some becausetaxpayers it resort to different methods to avoid the varied mandatory tax payments to the Romanian state, especially the value-added tax payments. For this reason, we society. The purpose of this article is to identify whether certain taxes and fees consider that fiscal pressure could be one of the current problems in Romanian and to show the evolution of these taxes and fees of the Romanian government. ofFor the this Romanian purpose, state the authorslead to abuilt high an fiscal econometric pressure onmodel, the Romanian through which taxpayer we aimed to capture the influencing factors of fiscal pressure in Romania, during thewe obtainedperiod between a multiple 1998 regression and 2018. model, After we which performed revealed the that error-specific the value-added tests, namely the Harvey homoscedasticity test and the Jarque-Bera normality test, tax and the level of the gross domestic product have a strong influence on the Keywordsfiscal pressure, with a 5% level of significance taken into account.
: tax; fiscal pressure; fiscal pressure VAT; Gross domestic product; The level of consumption of the population; The level of fiscal pressure.
122 2021 Is the Digitization of Tax Institutions a Solution for Voluntary Tax Compliance? Adriana PORUMBOIU Bucharest University of Economic Studies, Bucharest, Romania Petre BREZEANU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: digitalization is a key concept according to which new processes are designed, In the stage of evolution in which the global society finds itself today, by the private sector, must also have a transposition in the public sector and can efficientbe a tool procedures to improve tothe solve collection current of problems. tax obligations Digitization, owed byfirst individuals implemented and legal entities, in the context where voluntary tax compliance is still a challenge for most member states of the European Union. This article aims to show what the share of tax obligations in income, educational level, and the degree of use of isthe the Internet influence in relation on the collectionto public institutions. of tax receivables The analysis exerted takes by variables into account such EU as countries over the last 12 years, during which time the use of the Internet has intensified.state. This analysis is a starting point in designing strategies for digitizing fiscal institutions, where they do not exist, depending on the specifics of each Keywords:
Tax compliance, fiscal revenues, digitization.
2021 123 Determinants of Economic Growth for the European Union Countries Mihai PĂUNICĂ Bucharest University of Economic Studies, Bucharest, Romania Alexandru MANOLE “ARTIFEX” University of Bucharest, Romania Cătălina MOTOFEI Bucharest University of Economic Studies, Bucharest, Romania Gabriela‐Lidia TĂNASE Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The Gross Domestic Product (GDP) is one of the most important indicators of economic growth and a major objective for any country around the world. The importance of this macroeconomic indicator increases in the present economic context, where international studies started to emphases the importance of a sustainable growth or development and where the GDP can be seen either as an obstacle to sustainability, or a tool to protect the environment and achieve the sustainability goals. Accordingly, we acknowledge that understanding the formation of the GDP and the elements that exert an is to see if some of the indicators that are used to determine the GDP, namely influence on it, becomes of vital importance. Thus, the objective of our paper finalexternal consumption balance – goods, expenditure external of balance general – services, government, wages final and consumption salaries and expenditure of households, gross fixed capital formation, changes in inventories, GDP can be predicted at a more accurate level be using not only the past values employers’of the GDP but social also contributions the past values are of Granger these variables, causing GDP. and We if such wanted an analysis to see if canthe help us understand which of these elements have a major causal impact on this growth indicator and also help us to better estimate the evolution of the GDP objective, we used the Toda- Yamamoto approach of the Granger causality for andthe intervalthus, maybe 1995-2019 influence to itsevaluate future thevalues. causality In order in EU28to achieve and 28our European research Union countries. The results obtained show that, for the geographical and time be characterized as a Granger causality in a small number of cases. dimensions studied in this paper, the influence of the independent factors can Keywords: Gross Domestic Product; Final Consumption; Capital Formation; Changes In Inventories; Salaries; External Balance.
124 2021 Risk aversion, financial literacy, and investment choice: Evidence from a survey among the Romanian students Andreea STOIAN Bucharest University of Economic Studies, Bucharest, Romania Nicoleta VINTILĂ Bucharest University of Economic Studies, Bucharest, Romania Filip IORGULESCU Bucharest University of Economic Studies, Bucharest, Romania Cosmin CEPOI Bucharest University of Economic Studies, Bucharest, Romania Aurora Elena DINA (MANOLACHE) Bucharest University of Economic Studies, Bucharest, Romania
Abstract: This paper investigates the relationship between risk aversion, in Romania. For this purpose, we conducted a survey that assessed the overall, financial literacy, and investment choices of students enrolled in top universities basic and advanced financial literacy, risk aversion, as well as parents’ and respondents’ financial behaviours. Our sample comprised of 479 respondents. Using both linear and instrumental regressions, we show that financial literacy, regardless of its type, contributes to reducing risk aversion quantified by the risk premium. Moreover, good financial behaviours of both parents and students decrease the risk aversion. This finding is not valid in the case of a self-assessed risk profile, which is influenced by the financial or entrepreneurial education thatand not the by respondents risk aversion benefited measured from with during the help high of school. an experimental We also found method. that respondents’ investment choices are influenced by self-assessed risk profiles
However, financial literacy contributes to the increased likelihood of selecting bonds and investment funds, but does not have a statistically significant Keywords:influence on the selection of stocks or bank deposits.
financial literacy, risk aversion, investments.
2021 125 Non financial performance of energy companies listed on Bucharest Stock Exchange and relevance for stakeholders Félix Puime GUILLÉN University of A Coruña, Spain Mirela PANAIT Petroleum‐Gas University of Ploiești & Institute of National Economy, Bucharest, Romania Jean ANDREI Petroleum‐Gas University of Ploiești, Romania Iza GIGAURI St. Andrews Georgian University, Tbilisi, Georgia
Abstract: Sustainable development is a complex process that requires the concerted effort of various categories of stakeholders. More and more companies have become aware of the role they can play in the transition to the green economy, which is why they are voluntarily involved in various CSR programs. In addition, economic agents try to achieve the most complete information of their financial andthe valuenon-financial created. performancefor society in so general. that stakeholders Starting from have these a broader considerations, picture of the efforts of companies not only to maximize profit for shareholders but also companies in the energy sector listed on the Bucharest Stock Exchange. These thecompanies article show considers a responsible the analysis attitude of the towards non-financial the environment performances and society, of the trying to mitigate the negative externalities generated by the production activity. Extensive information is presented in the sustainability reports, the companies trying to carry out a systematic consultation and a sustained information of the stakeholders considering the character of public companies information. Therefore, the social and environmental behavior of the companies andin the the energy provisions sector of has the substantially European directive improved on underthe disclosure the pressure of non-financial of different regulations transposed in the Romanian legislation. categories of stakeholders and under the influence of certain European Keywords: sustainable development, CSR, energy, Bucharest Stock Exchange.
126 2021 Effects of the SARS-CoV2 Pandemic on the Romanian Labour Market Lăcrămioara DRĂCEA Bucharest University of Economic Studies, Bucharest, Romania Alina STANCU Bucharest University of Economic Studies, Bucharest, Romania Nicolae SUVOROV Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The onset of the spread of the new covid-19 virus has had a substantial
Because of its unpredictability, the spread of the virus was faster than the growthtime it took trend, global causing systems a dramatic and the population impact on to all adapt financial to the markets new conditions. globally. Pandemic losses have created an unprecedented risk that is still felt today among investors. The extreme measures that were imposed by the authorities during this period of crisis have led to massive changes in the jobs and the is a novelty in Romania, it has spread relatively quickly among corporations and presencemultinational of employees companies. in theThe office. present Although paper aimsthe concept to determine of ‘work the from ways home’ and possibilities to increase the number of jobs in each sector of the economy by on the labour market. The radiography of the current situation caused by the exploiting opportunities and reducing the risks identified by a SWOT analysis globally and therefore a better appreciation of the measures to be taken in the cofid-19current situation. pandemic contributes to a better understanding of the effects felt
Keywords: labour market, COVID-19, global systems.
2021 127 Cryptocurrencies and tax evasion a comparative approach Bogdan Florian AMZUICĂ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: of new economic-social relations as well as of the corresponding legal and normative Theframework objectives and of the this forms article of circumvention are represented of the by theresulting identification taxation principles, both in correlation with the new means of virtual currencies. The results of the article aimed to identify new modern and self-contained methods of combating international tax evasion, respectively the exchange of information and the adequacy of the legal normative framework to the new economic
Keywords:realities. The crypto, implications tax evasion, are complex economic and reality. represent the identification.
128 2021 The European Union’s struggle with the profit transfer via tax havens Narciz BĂLĂȘOIU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The issue of corporate taxation in the state in which it operates has recently received increasing political traction, as tax havens have gradually entered the spotlight, but also as multinationals have developed colossal turnovers, far above the GDPs of less developed countries. Tax havens deprive many states of billions of dollars that have not established through adequate and a high degree of poverty. By manipulating money through tax havens to limit legislationthe payment an of assertive taxes and fiscal fees, control, multinationals generating deprive and fuellingnational social governments inequities of large sums of money that could be directed to education or health programs. In recent years, the European Union has drawn up a series of measures and criteria pricing”. to prevent the outsourcing of profits via tax havens, but also to regulate “transfer Keywords:
tax haven, profit, EU.
2021 129 Consequences of Exits from Political Unions on Dividend Policy: The Case of Ethiopian Split Mohamad YOUNESS Bucharest University of Economic Studies, Bucharest, Romania
Abstract: This paper examines the consequences of exits from political unions or the split of countries on dividend policy decision, taking the Ethiopian split as a practical case, which considered as a major factor in the increase of political tension with Eritrea especially after the secession, that led to the increase in successivethis day especially political during conflicts the and period dispute between over the(2010-2019), past years tillusing now. a database This paper of studiessix companies the impacts from ofdifferent political sectors, conflicts from that Ethiopia. has been The companied results show with that split the to
Keywords:political conflicts Dividend such Policy; as split Political has a direct Exits; impact Ethiopian on the Split; dividend Corporate policy. Financial Policies.
130 2021 Minitrack: Economic Policies for Non‐Cyclical Crises Minitrack Chairs: Mihaela Roberta STANEF‐PUICĂ, Carlos Ramírez VALDEBENITO and Economics is of paramount importance to put the wheels back on track. WeEconomies are living all over the Recoverythe world of need our some former steam life, to due overcome to Covid-19 the contraction Lockdown, of this non-cyclical crisis, which everyone failed to foreseen, a pandemic crisis. It was an unknown unknown, meaning something we did not know that we did not know. There was no precedent; there was no drill to counterstrike, no economic leverage and no economic policies. Yet, it is our duty to reinvent our economic knowledge, and, just as George Akerlof did with the asymmetric information theory in the 1970s, to reshape everything we thought to know about our economic future as consumers and economic agents. In the last century, we have developed emergency plans to manage the menaces of economic crisis, at least the cyclical crisis. In 2007-2009 collateral debt of collapse, near the 1929 Great Depression scenario. Even collateral debt obligationsobligation and and leverage other financialinvestment innovation with money brought which the did worldnot exist on seemed the brink to and the governments managed to use the experience of previous crises and be an unknown unknown for the investors at that time, financial institutions world was the stigmata of our last major economic crisis, known as The Great theRecession. economic After policies all, Economics to save the had world the answersas they have and before.the wealth Greed kept of financialgrowing with reinforced economic regulations to avoid a future Credit Crunch. Generally speaking, we did know where greed debt and overspending could have lead; we just hoped we will never see the black swan. But in case of Covid-19 Lockdown, we did not even know that there is a creature of this kind. Economics was simply overwhelmed by an enemy impossible to imagine. The goal of our section is to extend the economic knowledge through debate and change of ideas, in helping economic policies to adapt themselves to the challenge of a pandemic blocking the world economy. Should we aim for a
V-shaped recovery or a U-shape one? Which type will save more from our previoussupply chain wealth? management, What should should we bedo our to achievefocus for sustainable the future economicoutcomes decision on long run?in order New to fields keep theof industry wealth and or services,the quality quest of life for we new enjoyed resources a long and time different before this non-cyclical crisis. The section maintains an open methodological frame to future research.
2021 131 The main topics covered by the hereby call for papers are related to: • Economic policies proposed for restart the economies • Global economic contagion effect and the output swap of producers due to reducing demand all over the world • Energy and supply chain security aspects • Corona virus lockdown and the drop of consumer prices – perspectives on
• U-shapemost affected recovery economic fields • TheBudget Swoosh-shape deficit aspects recovery for economic and the recovery:preserving V-shape wealth recoveryand sustainable versus growth • • Governments economic stimulus on deteriorating economic agents perspectives2021 ahead: inflation, GDP, retail sales • Sustainable consumption and production • The Swoosh-shape recovery and the preserving wealth and sustainable growth • Rebounding the world economy on the second half of 2020 • Corona virus downturn versus the Great Depression and the Great Recession • Government spending and jobless aid
132 2021 Mihaela Roberta Stanef‐Puică studied Economics at Faculty of Theoretical and Applied Economic, Bucharest University of Economic Studies. Vice‐dean of the Faculty Theoretical and Applied Economic Studies, since 2015, now she is in charge with the research component of the Faculty. Her research interests cover regional development and labour market problems. With an experience in academia but also in research for about 15 years, Roberta Stanef‐Puică carries out both teaching and research activities in areas of expertise such as: sustainable development, urban and rural development gaps, human resources, labour market, demography, education and public policies. Roberta Stanef‐Puică is also a consultant for the National Commission for Strategy and Prognosis and had a big contribution in more than a few of their projects regarding private‐public partnerships in several different domains, such as labour market and green energy.
2021 133 Carlos Ramírez Valdebenito is an Academic Investigator at Usach – Universidad de Santiago de Chile, an External Consultant Economist at Organización Internacional Del Trabajo and also a Professor at the Academia Politecnica Militar. Ejército de Chile. For the Organización Internacional Del Trabajo he plays the role of Investigator, studying the labour market, labour gaining’s and productivity, but he is also an author. He wrote Observatorio Laboral del Maule – VII Región. At the Academia Politecnica Militar in Chile he is a professor that it is specialized in Micro and Macroeconomics. He is also a professor at the Universidad de Talca and there he is responsible for the Programa de Formación Fundamental y Dirección de Responsabilidad Social Universitaria.(RSU). In his over 30 years as a professor he also played an important role at the Universidad de Santiago de Chile, being an Investigator, but also a Formación de Ejecutivos for small companies at the National Bank of Santiago de Chile (2000‐2004).
134 2021 A pilot study on designing efficient retention policies based on economics students’ migration incentives George SERBAN‐OPRESCU Bucharest University of Economic Studies, Bucharest, Romania Liana BADEA Bucharest University of Economic Studies, Bucharest, Romania Isabel NOVO‐CORTI Universidade da Coruña, Spain Mihaela Roberta STANEF Bucharest University of Economic Studies, Bucharest, Romania Silvia IACOB Bucharest University of Economic Studies, Bucharest, Romania Grigore Ioan PIROȘCĂ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Albeit positive outcomes for migrants and their destination countries, there is a growing body of research claiming that migration of young skilled productivity output of the country of origin. Although recent studies frequently workforceemphasize has negative a significant consequences impact on of the migration, structure the of domestic most effective labor market policies and to tackle with these issues are yet to be determined. However, one thing is clear, foron thecountries assumption disadvantaged that the effectiveness by young, qualified of retention workforce policies emigration heavily relies there on is anthe urgent better needunderstanding for efficient of perceptionsretention policies. and incentives The rationale of the of target this studygroup lays (i.e young tertiary graduates who are looking for jobs overseas). Moreover, a more accurate grasp on the main reasons that could make young people to change their mind and remain in the country could be a key point in designing retention policies. Following this line of thought, we have conducted a pilot study among the country and what needs to be changed in order to decide not to leave and economicssearch for a students job abroad. to findUsing out empirical what would methods, be their the mainstudy reasonsfocuses onto remainanalyzing in whether to remain or leave the country. The results reveal that, along with personal,personal reasons,fiscal and some social incremental incentives thatchanges could in influence economic young and social people incentives decision
Keywordscould make: labora significant migration, impact retention on economics policies, students’ incentives, decision tertiary to education. emigrate.
2021 135 Fiscal consolidation in Romania in the wake of the COVID-19 pandemic: how much and how fast? Bogdan Andrei DUMITRESCU Bucharest University of Economic Studies, Bucharest, Romania Cătălina Adriana HÂNDOREANU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The economic shock generated by the COVID-19 pandemic and budgetary balance in 2020 and a rapidly rising public debt. Policymakers are prior pro-cyclical fiscal policies have left Romania with a severely deteriorated sustainability with an adequate response to the economic shock generated by the confrontedpandemic. By with resorting difficult to public choices debt amid equations, the need this to paper balance projects restoring the public fiscal consolidation plans for 2021-2024 and afterwards by proposing a continuation debt evolution in Romania during 2021-2030 in light of the announced fiscal account for possible variations in the determinants of public debt, a sensitivity inanalysis the reduction is performed, of the considering budgetary deficit,both optimistic albeit at aand slower pessimistic pace. In scenarios. order to
2024 and going further until 2030 at the proposed pace is essential in keeping Thepublic paper debt concludes near prudent that fiscallevels. consolidation Moreover, under under a pessimisticthe current planscenario, for 2021- even with a successful fiscal consolidation, considered to be represented by an exit fromend of the the Excessive interval Deficitconsidered Procedure in the invicinity 2025 andof the a reduction 60% threshold in the budgetaryset by the deficitMaastricht to around Treaty. 1% of GDP in 2030, public debt in Romania could be at the
Keywords:
public debt sustainability, fiscal consolidation, public debt equations.
136 2021 Crisis Management in High-Category Hotels in Serbia During Covid-19 Pandemic Snežana MILIĆEVIĆ University of Kragujevac, Serbia Živana Krejić Union University, Belgrade, Serbia Nataša ĐORĐEVIĆ University of Kragujevac, Serbia
Abstract: The aim of this research is to determine the level of importance and performance (usage level) of hotel crisis management measures during different phases of the crisis: Before-Crisis phase, During-Crisis phase, and After-
Crisis phase, and to determine the significant gap between these two levels, by questioningthe Covid-19 managers pandemic of in high-category 2020. The Covid-19 hotels incaused Serbia. the The biggest questionnaire fall in tourism filled managersaround the of world 162 high-category and the crisis hotelsmanagement in Serbia applied (four and in tourism five stars enterprises hotels) during will have a crucial role for the tourism industry in surviving this pandemic. The hotel managers’ responses were analyzed by using the Statistical Package for the Social Sciences (SPSS). The applied methods are descriptive statistic analysis, paired-samples t-test, and Importance-Performance Analysis (IPA). Empirical results showed that hotels were adopting various crisis management measures during different stages of the crisis, and the implementation of some measures management considers that measures of the Before-Crisis phase, During-Crisis wasphase, significantly and After-Crisis affected phase the businessin the opinion operations of hotel of hotels. managers Also, are hotel of crisisgreat importance.
Keywords:
Hotel crisis management, Before-Crisis phase, During-Crisis phase, After-Crisis phase, Covid-19, High-category hotels, Serbia.
2021 137 Creative and Cultural Sectors during the Covid-19 Pandemic Marta‐Christina SUCIU Bucharest University of Economic Studies, Bucharest, Romania Gheorghe‐Alexandru STATIVĂ Bucharest University of Economic Studies, Bucharest, Romania Mircea‐Ovidiu MITUCĂ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Year 2020 brought new challenges for the cultural-creative sectors, mostly due to the physical distance requested in order to limit the spread of COVID-19 pandemic. These challenges have important effects on managing crisis and induced propagated complex changes within these sectors. The social sectors have to deal with in order to provide proper and effective answers COVID-19even in a shortpandemic time. has In generatedthe same timeand amplifiedthese offered challenges also some that economicopportunities and for further medium and long term development. The paper aims to identify the main characteristics of this dynamic and turbulent environment including social media and communications management.Due to the COVID-19 pandemic many of the activities of these sectors had suffered and thus challenged a lot the public,platforms social and andmore cultural complex institutions networking that functioning had been better forced within to find virtual new space. ways to reach and capitalize the technological and communication benefits of digital
Inpeople’s addition, need the to paper access intends cultural to and offer creative more sectorsalternatives before asking and after for a COVID-19. reflection and dialogue in order to find better solutions for the complex issues related to Keywords: digital platforms, cultural-creative sectors, COVID-19.
138 2021 Could agile project management work in the public sector? A pilot-study on the innovation level and organizational agility of local public administration in the North-East area of Romania Alina Ramona BUTNARIU “Ștefan cel Mare” University of Suceava, Romania
Abstract: Nowadays with the Industry 4.0 revolution and in the context of large demographic movements corroborated with the unstable socio-political environment, public institutions face extremely complex challenges to achieve the goals of socio-economic development and quality of life, especially in small local communities. The concept of agile project management could be an appropriate response to these challenges. The aim of this paper is to propose a framework for understanding the importance of combining different resources in local public administration in Romania. It is well known that many methodologiespublic organizations (traditional implement with European agile) for funded some projects specific and activities they are of subject human to strict provisions for implementation, reporting, monitoring and control, but we started from our premise that the agile approach could add value to projects applicability of the concept of agile project management, will explore aspects implementedthat can stimulate by public institutional institutions. development Specifically, in the the public paper sector will determine and provide the a vision of a public organization’s attempts to implement innovative techniques, methodsenvironment. and tools used primarily in the private sector, in the field of software project development, but with proven applicability and efficiency in the public Keywords: agile project management, organizational agility, innovation, strategy, vision.
2021 139 The Economics of Labor Market after the pandemic. The future of employment 2021-2030 Grigore Ioan PIROȘCĂ Bucharest University of Economic Studies, Bucharest, Romania Carlos Ramirez VALDEBENITO University of Santiago de Chile, Chile José Vergara HURTADO University of Los Lagos, Chile George Laurentiu SERBAN‐OPRESCU Bucharest University of Economic Studies, Bucharest, Romania Liana BADEA Bucharest University of Economic Studies, Bucharest, Romania Roberta‐Mihaela STANEF‐PUICĂ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The rationale of this paper research concerns the paradigm shift of Economics due to pandemic. The world as we knew it has certainly changed, of interest on the medium and long run is labor market, reshaped by distorted andsupply the chain extent of of global this change commerce is yet and unknown. limitations One dueof the to mostsocial important and economic field restrictions. Even before the pandemic, there was interest in admitting the volatility of employment towards jobs not yet invented. Nowadays, after several pandemic waves, economists should accept that the new normal will be different. In the next future, the employment will face new challenges, and most likely economic policies will stabilize the market only after the pandemic would have gone. Considering the arguments and the facts presented in this paper, the future of employment is to be understand from the perspectives of its opportunities instead of its shortfalls.
Keywords: labor market, new economic policies, employment, restrictions, remote working, logistics.
140 2021 Alternative Unemployment Rates in Romania George ȘTEFAN Bucharest University of Economic Studies, Bucharest, Romania Anca PARASCHIV Bucharest University of Economic Studies, Bucharest, Romania Clara VOLINTIRU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: low level of unemployment. This paper shows why this can be misleading, Official statistics and usual metrics place Romania at a relatively factors as structural features, a high number of people employed in agriculture, consideringinvoluntary part-time various specificities workers, etc. of we the show Romanian that there economy. are alternative Looking metrics at such for unemployment that can constitute better diagnostic tools for public policies and labor market reform. The alternative unemployment metrics presented here,
Mediterranean economies like Greece, Italy, and Spain that have been struggling showwith high that unemployment.the real unemployment Furthermore, figures wein Romania emphasize are possible much closer directions to those and in measures to be implemented in Romania to reduce unemployment (especially structural) and to support inter-regional social cohesion and sustainable economic growth. Given the current context of the economic downturn in the post- COVID-19 and the projected impact on vulnerable groups and the risk of poverty, it is more important than ever to develop sound evidence for the policy- making process.
Keywords: Unemployment, labor market, Romania, hysteresis, alternative unemployment metrics.
2021 141 Restarting COVID-19 Economies Andreea‐Teodora IACOB Bucharest University of Economic Studies, Bucharest, Romania Silvia Elena IACOB Bucharest University of Economic Studies, Bucharest, Romania Sorin NASTASIA Southern Illinois University, Edwardsville, USA
Abstract: During our road through life, the economy accompanies us, showing us that it can’t be controlled, only understood and, in a way, predictable. This could be applicable for cyclical crisis. But how could we say the same about the non cyclical crises? Did the history showed us patterns? Did the history gave us predictive instruments? Could we say that us, as economist and as economic agents who use economics as a component of our living, we could act predictive, not just corrective upon this kind of crisis? The actual crisys, the non-cyclical crisis caused by the COVID-19 uncontrollable spreading, showed us, once again, that its king of crisys cant be predicted. A non-cyclical crisys, such as the COVID-19 crisys, involves fast and precise corrective instruments, but, paradoxically, also gentle and diffuse corrective instruments. The analysis of the best mix of policies and actions, in the current context, has the potency to exploit the socio- economic mechanism in their true beauty. On the other hand, predictive instruments cannot be put in place in such a context. Taking into consideration two important hypotheses, this study will seek to identify, propose and debate possible directions for restarting the economy, with a special focus on actions related to human capital. The target of the study will bring more in discussion the potency of socio-economic actions, in the entire new world sudy will take consideration of Romanian context, but not sepparated from mindset, to consideration especially the actions related to Human Capital. The
Keywords:international COVID-19, / global / europeanhuman capital, effects. work from anywhere, opportunities, strategies, mix of corrective actions.
142 2021 Structural Organization of the Company and Methods of Improvement. Case study: S.C. Lactate Natura S.A. Nicolae MOROIANU Bucharest University of Economic Studies, Bucharest, Romania Constantin Ciprian IACOB University Valahia of Targoviste, Romania Maria GANDEA (ROȘOIU) University Valahia of Targoviste, Romania Claudiu Aurelian POPA University Valahia of Targoviste, Romania Guler DERMENGI (GEREA) University Valahia of Targoviste, Romania
Abstract: Organization is a process that includes establishing the activities necessary to achieve the objectives, stating them as tasks and arranging them in a decision‐making framework. The design and maintenance of the role system is the basic object of the organization, as a managerial function. An organizational structure must be designed to clarify the place and role of people in the organization. Everyone needs to know who they are, what to do, who is responsible and for what results. The aim of this paper is to verify whether the structural organization of S.C. LACTATE NATURA S.A. aims to group the functions, activities, attributions and tasks based on criteria and distribute them, in order to perform them, on working groups and employees, in order to ensure the best possible conditions for achieving the objectives and proposing solutions that could improve its activity.
Keywords: structural organization, improving organization, methods of improving.
2021 143 Digitalisation and Competition in the European Union Dragoș HURU Bucharest University of Economics, Bucharest, Romania Anca Maria PARASCHIV (GHERMAN) Bucharest University of Economics, Bucharest, Romania Iulia Maria Ana SANTA Bucharest University of Economics, Bucharest, Romania
Abstract: The new paradigm existing in the current economic systems produced in the context of the processes that are defined as digitalization transforms the wayapproaching the competition the processes processes of economic take place transformation and influences through its legal the framework. concept of The preference for the study of these transformations in the EU is justified by imposed by the new economies and the evolution of economic relations in cross digitalizationlinked system. that Technological defines the Europeanprogress hasstrategy always of adaptationbeen in history to the not conditions only at the basis of economic growth but also determined the transformation of the competition space. The adaptation to the new technologies involved both the reconsideration of the sources of competitiveness at company level and the transformation of the competition acts from a procedural and legal aspect. The digital information in these processes is crucial for the potential to bring huge benefitscompetitive in terms environment of productivity, that allows jobs andfor livingthe diffusion standards. of innovationThe consumers and thatwill gainbrings access gains to from new, technologyinnovative, toand individual cheaper products. prosperity. We In need our toresearch build a healthywe will analyze and propose solutions in the growing debates on how competition will work in digital markets with an emphasis on market power, concentration and data protection.
Keywords: digitalisation, competition, new economies, digital market, market power.
144 2021 Economic Policies for the Revival of the Romanian Economy Mariana Vasilica BIGEA Bucharest Economic University, Romania Cristina Mariana ENE (VASILE) Bucharest Economic University, Romania Cosmin VIZINIUC Bucharest Economic University, Romania
Abstract: The authors start from the idea that Romania’s development model, based especially on the stimulation of consumption and conjuncture increases, does no longer meet the new circumstances. To this end, the economic policies regarding the counteraction of budgetary, commercial and current account of capital, competitiveness and innovation, investment, digitalizing the economy deficitsand administration are reconsidered. and accelerating These policies Romania’s aim at the transition stimulation towards and developmenta sustainable economy, according to the 2030 Agenda. A highlight is put on governmental short term public policies aimed at assuring the working capital necessary for companies that are affected by the pandemics. The macroeconomic setting in the coronacrisis context suggests the need of adopting some budgetary and paper there are underlined and analyzed the programs aimed at sustaining and fiscalprotecting policies jobs according so as to counteract to the economic the rise status of unemployment. of the country. In the end of this
Keywords: consumption, macroeconomy, economic policy, 2030 Agenda, Romania.
2021 145 Islamic banking – a doctrinal approach on economies of Middle East Grigore Ioan PIROȘCĂ Bucharest University of Economic Studies, Romania Ahmed Hussein Radhi AL RUBAYE University of Baghdad, Irak Nicolae MOROIANU Bucharest University of Economic Studies, Romania George Laurențiu ȘERBAN‐OPRESCU Bucharest University of Economic Studies, Romania Liana BADEA Bucharest University of Economic Studies, Romania
Abstract: The rationale of this paper research goes into the characteristics of
Islamicsolutions finance to further which development proved to performdespite economicbetter during restrictions economic and crisis. uncertain Even the world economy is reshaping by itself, Islamic finance is trying to provide future. The theoretical milestone of Islamic finance is the versatility and adaptability of its investing system, whereas in Western culture more rigid regulations could be a seen as limited. Nevertheless, the superiority of Western economic culture due to its superior law system is certified during normal times. But as proven during Subprime crises, Islamic finance system tends to bereach more its bestcautionary to provide when sustainable faces financial solutions pitfalls on andthe longmenaces. run. Considering It is to be seen the ifarguments non-cyclical presented crises as in thethis pandemicarticle, this will approach push the puts Islamic forward finance new highlightssystem to on history of economic thought and replicas of future solutions to restart the world economy.
Keywords:
Islamic finance, investing system, Middle East.
146 2021 A Survey of the Effect of Government Efforts in Meeting COVID-19 Challenges on Tax Morale of Nigerians Raimi LUKMAN Universiti Brunei Darussalam, Brunei Agbetunde, L. A. Yaba College of Technology, Nigeria
Abstract: At the peak of the COVID-19 pandemic, the Federal government of Nigeria launched a number of interventions to mitigate the multifaceted challenges posed to people’s lifestyle, sustainability of business, and wellness of theThis society. survey However, examined the the lockdowns, effect of government social distancing, COVID-19 travel interventions bans and distortion on the oftax exports, morale and of membersother measures of the affected public acrossthe inflow selected of tax sectors.revenue Usingin the country.a cross- sectional survey design, a sample of 177 respondents participated in the web survey. The data collected were analyzed using descriptive and inferential focused on seven (7) areas, namely: stringent control measures; treatments of statistics.people infected The first by COVID-19; finding revealed provision that of governmentspecial care and COVID-19 incentives interventions to medical staff; distribution of COVID-19 relief materials, palliatives, and cash assistance to the public; tax reliefs to the business organizations; debt rescheduling; and non- financial support assistance and incentives to corporate businesses. The second findingsupported indicated by the institutional that COVID-19 theory interventions and the resilience in all the view seven of survival areas doduring not havea recessionary a significant period. effect It on was the recommended, tax morale of Nigerians. among others These that two governments findings are and other relevant agents should take steps to induce tax morale of individual taxpayers in Nigeria and governments should improve in their performances towards service to the citizenry, especially in the time of crisis like the COVID-19 pandemic.
Keywords: Nigeria, COVID-19, tax revenue.
2021 147 Minitrack: Innovative Technopreneurship and Sustainable Business Models Minitrack Chairs: Roxana CLODNIȚCHI, Luis Miguel Ciravegna Martins da FONSECA Guest Speaker: Christine VOLKMANN Sustainable business models aim to deliver economic, social and environmental activities. At the center of any business model is the company’s ‘value proposition’ benefits- the products – the three and services pillars of that sustainable yield tangible development results for – through the company’s core business target customers. A company’s value proposition distinguishes it from its competitors. In these models, the value proposition includes social, environmental and economic values, while value distribution within the whole market chain is a key feature. engagement of technology with human development by boosting the utility of Technopreneurship business ideas play a significant role in uplifting the takes a holistic approach, and integrates leadership for the purpose of generating localwealth. resources. Technopreneurs It is a way use of thinking innovation and as behaving a way to that take identifies advantage opportunities, of change as an opportunity to start a new company or provide a new service. This mini-track is intended to connect academics, companies, communities and development organizations by providing a networking space between business and human development, between business strategy and development expertise. The main topics covered by the hereby call for papers are related to: • IoT and competitive strategies in smart products’ markets • • Integration of technology, innovation and entrepreneurship Hi-tech projects in Information Technology • Market data analytics in a disruption era • Implications of digitalization on consumer behavior • Challenges of the new international environment for business • Building worldwide partnerships through ESD • Digital entrepreneurship for SDG • ESD, as the keyword for empowering the activities • Education for Sustainable Business Models • Entrepreneurial and corporate action for climate and life • • Cultural entrepreneurship and cultural heritage management for SD Business models for clean energy and resource efficiency 148 2021 GUEST SPEAKER
Christine Volkmann studied Economics at Gießen University (Germany). After having worked as a PhD research associate with Deutsche Lufthansa AG, she held several leading positions at Deutsche Bank. In 1999, Christine Volkmann was appointed Professor of Economics at the Westfälische Hochschule and managing director of the Institute for Entrepreneurship and Innovation. Since 2008, Christine Volkmann holds the Chair of Entrepreneurship and Economic Development at the Schumpeter School of Business and Economics at Wuppertal University. She is director of the Institute for Entrepreneurship and Innovations Research (IGIF). Her research and teaching activities focus on Social Entrepreneurship, Entrepreneurial Ecosystem, Academic Entrepreneurship, Entrepreneurial Leadership and International Entrepreneurship. She was twice awarded the “UNESCO Chair of Entrepreneurship and Intercultural Management”, 2005 at Westfälische Hochschule and 2010 at the Wuppertal University. She is committed to related initiatives such as the interdisciplinary Jackstädt Research Center for Entrepreneurship and Innovation; a regular visiting professorship at the University of Economics and Business Administration (ASE) in Bucharest, Romania; the expert group to the European Commission on entrepreneurship education in higher education, especially in non‐business studies; the technical advisory group of the World Economic Forum for Education and Entrepreneurship among others.
2021 149 Roxana Codnițchi studied Business Administration at the Bucharest University of Economic Studies and got a master’s degree in International Relations with the Babeș Bolyai University, Cluj Napoca. After graduating her PhD studies, she continued collaborating with the Bucharest University of Economic Studies to become a university lecturer and vice‐dean of the Faculty for Business Administration (FABIZ). Prior to her engagement with the Bucharest University of Economic Studies, Roxana worked for more than 10 years for the European Commission and the German Chamber of Commerce, gaining experience in the management of several international projects with regard to environmental technologies, resource efficiency and renewable energy. Her research interests cover Eco and Energy Economics and Decision Making.
150 2021 Luis Miguel Fonseca is Professor at ISEP, Porto School of Engineering, of Quality and Organizational Excellence, Business and Industrial Management and Sustainability, at MSc and BSc courses, since 1989. He is also Professor (invited) of Sustainability and Social Responsibility at University, Department of Production, and Systems | School of Engineering, from 2103. Luis Fonseca holds a PhD in Management (ISCTE‐IUL, 2012), an MBA (IEP/ESADE, 1993), a Specialization in Quality Engineering (UNL/ISQ, 1987) and is Electrical Engineer (UP, 1982). He is presently President of the North Delegation of APQ (Portuguese Association for Quality), is an ASQ (American Society for Quality) Fellow Member, and is Senior Member and Industrial Engineer and Management Specialist by Ordem dos Engenheiros (Portuguese National Association of Engineers). Luis Fonseca was CEO of the leading Portuguese systems certification body (APCER) for more than 10 years, and Vice‐President of the IQNet Association, following a previous career (since 1982), as Quality and Process Control Manager and engineer at several multinational companies. He is a researcher at CIDEM‐ Centre for Research and Development in Mechanical Engineering with the main primary research focus on Quality and Organizational Excellence, Business and Industrial Management, Sustainability, Social Responsibility, and Circular Economy. Luis Fonseca is a regular presenter and speaker to both academic audiences and practitioners and published more than 20 academic papers in Scopus indexed journals, and authored several chapters, related to his research and practitioner fields. He is also an active reviewer for relevant Journal in his areas of expertise.lmf@ isep.ipp.pt; [email protected]
2021 151 The context of digital entrepreneurship. New technologies between evolution and revolution Christine VOLKMANN UNESCO Chair for Entrepreneurship and Intercultural Management – University of Wuppertal, Germany Ileana GAVRILESCU University of Wuppertal, Germany
Abstract: The worries of a classic entrepreneur, while not easy in themselves, could be counted on one hand. But the world has changed. Increasingly overexploited of its physical resources and assailed by pollution beyond its endurance limit, the Earth has been showing signs of fatigue since the second half of the 20th century. At the same time, technology was moving from the third industrial revolution to the fourth ‐ from an economy based on overconsumption of energy and ‘everything’ to one based on digital technology ‐ corresponding to the fourth industrial revolution. Digital technology, with its cutting‐edge started to invade our living environment. Correspondingly, entrepreneurship componentshas also changed, ‐ Artificial integrating Intelligence the andbig Nanotechnology,issues of the global have economy slowly and and surely the adopting a protective attitude towards the future of humanity and the natural contemporaryenvironment. But world, does adapting the new “ondigital the technologyfly”, embracing really new represent technologies a genuine and technological revolution, or is it just a new stage in an automation that began electronic relays, and is now a springboard for what could be considered long ago ‐ in mechanical mode at first, and then continued with electric and
“genuinelyinspire a world revolutionary” in another ‐great artificial impasse intelligence to move andenthusiastically nanotechnology? forward Are into the “newhistory? technologies” Does this adoption just a much of new needed technologies and very by useful digital placebo entrepreneurship to mentally fitbecomes historically natural: into in what Kondratieff’s way should lawDigital of Entrepreneurship economic super ‐integratecycles (Joseph these Schumpeter’snew technologies? “Kondratieff Drawing waves”)? on a scholarly And then,literature the “bigdedicated question” ‐ on theof this one study hand to digital entrepreneurship, and on the other to the economic nature of digital technology, the study will provide theoretical answers to these questions of economic philosophy, so important in a sociological sense.
Keywords: entrepreneurship, new technologies, revolution, digitization, AI, nanotechnology, Kondratieff cycles.
152 2021 The mediating role of customer knowledge management in the innovative work behaviour and product innovation relationship Constantin BRATIANU Bucharest University of Economic Studies, Bucharest, Romania Dan Florin STANESCU National University of Political Studies and Public Administration, Bucharest, Romania Rares MOCANU National University of Political Studies and Public Administration, Bucharest, Romania
Abstract. In recent years, customer knowledge management (CKM) has become a key resource of innovation performance. In the same regard, innovative work stimulation of innovation willingness. The analysis of the relevant literature behaviourand research (IWB) studies is considered revealed that key there to sustained are no conceptual competitive frameworks advantage that and integrate these concepts and the relationships between them. The purpose of this study is to examine how innovative work behaviour impacts product and service innovation through the mediation of customer knowledge management.
A(CKM), tri- axial and research product model innovation has been (PI) developed as complementary and it suggests components. a specific The scale survey that integratescomposed innovativeof 30 items work was behaviour administrated (IWB), among customer two samplesknowledge - managers management and specialists - aiming to understand the differences between levels of initiatives and the usage of customer knowledge in product innovation performance. The quantitative data were processed with SPSS26.0 version software including the the research model. PROCESS macro analysis. Findings confirm the initial hypotheses and validate Keywords: innovative work behaviour, product innovation, customer knowledge management, product development performance.
2021 153 COVID-19 Pandemic and future business’ prospects: A conceptual study John AMOAH Tomas Bata University, Czech Republic Abdul Bashiru JIBRIL Tomas Bata University, Czech Republic Victor Kwarteng OWUSU Tomas Bata University, Czech Republic Michael A. ODEI Tomas Bata University, Czech Republic
Abstract: Unfortunately, the Covid-19 pandemic has disrupted the business environment worldwide mainly through the shift from physical interaction to virtual (e-business). Yet, innovative ideas keep emerging out of this calamity. To this, this article aims to provide a rudimentary framework to understand business prospects that could arise through recognizing the changes in the business environment as a result of the pandemic. In doing so, we reviewed and conceptualized scanty works that are connected to the current research theme pandemic has not only done harm to the business environment but a swift togetherpositive transformationwith few interviews (future from business business prospects) owners. We to found both that companies the Covid-19 and
- (1) Technology adoption and innovation, (2) Innovative marketing, and (3) customers.Improved hygienic Major business conditions prospects in the business identified environment. in the research The study, study therefore, include encourages business owners and practitioners to intensify the integration of recommended to engage in technological investment for their continuity and technologygrowth in the to revampmedium their to long service term. delivery strategies. In order words, firms are
Keywords: COVID-19, pandemic, future business, prospects, technology adoption, innovation.
154 2021 Needs for Remodeling the Entrepreneurship Education in the Post-COVID-19 era Dilyana YANEVA South‐West University “Neofit Rilski”, Blagoevgrad, Bulgaria Teodora KIRYAKOVA‐DINEVA South‐West University “Neofit Rilski”, Blagoevgrad, Bulgaria Ruska BOZKOVA South‐West University “Neofit Rilski”, Blagoevgrad, Bulgaria
Abstract: generating return on investment are discussed as being among the main Achievement of financial stability, good sales results and requirements for successful entrepreneurs are constantly considering the goals of entrepreneurship in general. With the new technological wave, the of social media, etc. Following only these few examples, it can be argued that the specificsdevelopment of digitalization, of entrepreneurship the new type has toand be the in linespeed with of communication, the latest economic the roleand technical processes on regional, national and international scale. In addition, the creating a global entrepreneurial ecosystem. The adaptability of entrepreneurs entrepreneurs of the new 21st century can be identified as global entrepreneurs application and digitalization on the one hand, and changes in society, on the isother. also That expressed is why inboth their technopreneurship ability to reflect as changes well as ine-entrepreneurship terms of technology are emerging. This research raises the question of the needs for entrepreneurship education in the Post-Covid-19 era. The authors’ aim is to reveal the opinions and preferences of the students in four courses of a bachelor’s degree in one Bulgarian university. Circumstances surrounding the COVID-19 pandemic inevitablytraditional reflectmodels on so each as to area gain of a socialnew looklive, towardsincluding knowledge education acquisitions,and for this reasoneducation we andwant training to find andout toto whatreconstruct extent studentstheir expectations feel the need towards to reconsider training. For this reason, a remodeling of the tertiary entrepreneurial education as regards the Post-COVID-19 era is proposed.
Keywords: entrepreneurship, tertiary education, remodeling, pandemics.
2021 155 Clusters and Dark Side Alleviation Costin LIANU Spiru Haret University, Bucharest, Romania Irina Gabriela RĂDULESCU Petroleum‐Gas University of Ploiesti, Romania Simona Corina DOBRE (GUDEI) Bucharest University of Economic Studies, Bucharest, Romania Cosmin LIANU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: There is a growing amount of literature related to the dark side effects of business to business relations. Research on dark side examine negative outcomes of B2B relationships, the nature and processes associated with relationship conflicts or the significance of psychological contracts withintheir competition B2B relationships. behaviour, Clusters exercising are considered trust in a multilateral to be efficient business ecosystems alliance of “competition”for longer period. where Communities companies offind practice, ways to on cooperate their turn, each are anothertarget oriented despite wide broad of market or non-market activities where knowledge circulate in a structured manner transforming tacit knowledge of each participant into a shared, group knowledge. Most successful clusters are based on communities of practice. The importance of clusters and other type of formal or informal innovation driven networks is growing being consider at the core of highly collaborative business models. Successful clusters like successful bilateral trust and trust building are crucial processes. This paper is investigating, based businesson empirical relations facts aredeveloped diminishing in clustering the dark process side on of specific Romanian dynamics companies, where the way cluster may contribute to the alleviation of dark side phenomenon and which antecedents or ingredients like trust building, cluster management dedication, social interaction, pre-existing bilateral business relations and other may contribute to this role.
Keywords: cluster, business alliance, trust, alleviation, community of practice.
156 2021 The Evolution of Innovative Entrepreneurship Indicators in Europe. Implications for the Labor Market Ancuța LUCACI Stefan cel Mare University of Suceava, Romania
Abstract: Entrepreneurship creates wealth, improves the living standards of the population, and supports the innovation process. Over the years, a strong connection has been established between entrepreneurship and innovation. Innovative entrepreneurship entails more than self-employment and job creation, it implies the creation of new business ideas, new business processes, and the strengthening of the research activities. Policymakers within European countries plan to strengthen the business environment by supporting R&D activities and the deployment of innovation into the activities of European companies. The purpose of this article is to perform a comparative analysis of innovative entrepreneurship in European countries and to determine the implications of innovative entrepreneurship for the labor market. The research methodology includes a quantitative analysis of innovative entrepreneurship indicators in European countries and a qualitative analysis of the implications of innovative entrepreneurship for the labor market. The indicators concerning innovative entrepreneurship in Europe are related to the type of innovation, innovation activities, protection of intellectual property rights, innovation publicand participation financial supportin international for innovation markets, activities, expenditure cooperation on innovation partners activity, in turnover in innovation, and employment in the innovation sector. The results of the analysis highlight a few gaps between the European countries in terms of innovation in European businesses. Furthermore, have been marked several assumptions of innovative entrepreneurship on the labor market and employment.
Keywords: innovative entrepreneurship, innovative entrepreneurship indicators, Europe, labor market.
2021 157 Predicting Entrepreneurial and Crowdfunding Intentions through the Theory of Planned Behaviour and the Role of Entrepreneurship Education - A Study of Romania and South Korea Mina FANEA‐IVANOVICI Bucharest University of Economic Studies, Bucharest, Romania Hasnan BABER Woosong University, Daejeon, South Korea
Abstract.
Romanian Crowdfunding and South Korean has recentlystudents’ gained intentions ground to asuse an crowdfunding alternative financing in their means, particularly for start-ups and risky enterprises. We hereby analyse attitudes, social norms, perceived behavioural control and entrepreneurship futureeducation ventures. on entrepreneurial Using PLS-SEM intentions.(N=441), we In first addition, investigated we looked the influence into the of and facilitating conditions on crowdfunding intentions. Finally, we checked influence of perceived trust and risk, performance expectancy, effort expectancy towards entrepreneurship, social norms, and entrepreneurial education have a entrepreneurial intentions with crowdfunding intentions. We find that attitudes on entrepreneurial intentions. In terms of crowdfunding intentions, they were positive influence and perceived behavioural control have a negative influence and risk and entrepreneurial intentions. The results are useful both for educators found to be positively influenced by performance expectancy, perceived trust well as for crowdfunding platform owners in designing platform functionalities designingand image. higher education programmes in the field of entrepreneurship, as
Keywords: crowdfunding intentions, entrepreneurial intentions, theory of planned behaviour, entrepreneurial education, perceived trust and risk.
158 2021 The impact of awareness campaigns on combating consumers’ food wasting behaviour Cătălina CHINIE Bucharest University of Economic Studies, Bucharest, Romania Isabelle BICLEȘANU Bucharest University of Economic Studies, Bucharest, Romania Francesco BELLINI Sapienza University, Rome, Italy
Abstract: As food loss and food waste continue to be social, economic and organizations have started out initiatives in order to raise awareness among environmentalconsumers. Campaigns issues, have governments, been carried privateout, in the companies media, in shops and or non-profit online, in order to point out the extent of the problem, and educate consumers to generate less waste. In an effort to assess the effectiveness of these campaigns, we have carried out a study on Romanian citizens, aiming to evaluate how often these campaigns have reached consumers and how coming across such a campaign with awareness campaigns isn’t associated with a lower self-assessed amount of influences consumer behaviour. The results show that although the familiarity consumers’ initiatives of reducing their food waste. food waste, a significant association exists between awareness campaigns and Keywords: food waste, awareness campaign, consumer behaviour, food loss, food supply.
2021 159 Sustainable fashion: Food waste turned into fibers Daniela STAICU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: At global level, we waste about 1.3 billion tons of food annually. Textile waste is an equally pressing issue. The European Union textile industry generates annually waste estimated at 16 million tons per year, the equivalent of about 35 both industries, and one way is to reuse waste instead of throwing away. Some kilosfashion per brands person, offer which recycling is about programs. the same asAnother 210 t-shirts. way fashion Waste isdesigners an issue arefor dealing with the issue of waste is found at the intersection of fashion and food: fashion industry. This paper is reviewing the variety of food waste turned into using food waste and agricultural waste to create new fibers and fabrics for the resulted from food waste processing for the fashion industry. The data has been fashion,collected using after literature reviewing review more thanto create 50 sources the first varying database from of fibers research and papers, fabrics reports, books, and websites of fashion designers dealing with recycled food waste incorporated into the value chain of new fashion items. The examples of food waste comprised in the database vary from oranges peels, pineapple leaves, milk, coffee grounds and other food waste turned into a valuable, carbon- free resource for the fashion industry. The results of this paper serve to a variety of stakeholders: food waste producers, fashion designers, circular economy consultants and facilitators, governments, consultants for the national circular economy strategy, academics, researchers in the textile industry.
Keywords: food waste, sustainable fashion, textile.
160 2021 The role of Dynamic Capabilities and Digitalisation in achieving Economic Intelligence. The case of Huawei’s success. Hadad SHAHRAZAD Bucharest University of Economic Studies, Bucharest, Romania Iulia Ruxandra ȚICĂU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The proposed paper draws attention to the Economic Intelligence (EI) to elaborate how dynamic capabilities and digitalisation are able to lead to increased competitiveness, effective information management and environmental monitoring. It is essential for companies in emerging economies to constantly absorb external information and apply latest technological advances to keep up with the competitive environment we live in. In a universe in perpetual change, there is a constant need for strong strategies for a firm toeconomically evolve. Through intelligent. the unification In other words, of co-ordinated companies actions can achieve such as Economic research, informationIntelligence storageby developing and circulation strong and dynamic market anticipation,capabilities thata firm imply can become latest technologies. This paper proposes an analysis of how dynamic capabilities enhanced by digitalisation are able to contribute to the development of Economic Intelligence by engaging the case of the international electronics and
Keywords:telecommunications digitalization, equipment economic producer intelligence, Huawei. huawei.
2021 161 Demand response solutions for changing the energy patterns of the consumers and for promotion of renewable energy sources Adrian TANȚĂU Bucharest University of Economic Studies, Bucharest, Romania András PUSKÁS‐TOMPOS Bucharest University of Economic Studies, Bucharest, Romania Costel STANCIU University Nicolae Titulescu, Bucharest, Romania Laurențiu FRĂȚILĂ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The proliferation of renewable energy sources has to be balanced by new technologies and instruments for the new energy systems characterized by intermittent and uncertain energy generated and new measures for assuring the stability and rehabilitation of the energy system. Demand response solutions can improve the stability of an energy system. The main demand response solutions which can change the energy patterns off the consumers are, about the preferences of consumers for different demand response solutions in principle, price and incentives based. However, there is a lack of knowledge article is to explain the main demand response solutions and to identify the key and their awareness for flexible contracts in not real understood. The goal of this factorsperspective which of contributedemand response in an efficient solutions way and to theirits practical implementation implementations, and also towhere evaluate the consumer their influence. behavior This and article its social reduces dimension the gap is between playing the the main technical role.
Keywords: demand response, demand response solutions, consumer behavior, energy patterns, energy flexible contracts.
162 2021 The evolution of the digital public services in Romania between 2011-2021 Marian OANCEA ”Carol I” Central University Library, Bucharest, Romania Bogdan-Paul SAFTIUC Bucharest University of Economic Studies, Bucharest, Romania Vanesa Mădălina VARGAS Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The digital world is now an indispensable reality of the new century. for organizational transformation are heavily evaluated, the perception of Whileacceptance technical and readiness aspects and of individuals all sub‐components for such digital that support transformation digitalization must be determined. Romania ranks 26th out of the 28 EU member states in Digital Economy and Society Index (DESI) for 2020. This situation is caused by the slow progress generally registered in the digitalization process. Romania has the best results in the connectivity dimension, due to the high use of very high‐ speedhas ranked broadband last among and the EU wide member availability states of in high the‐ lastcapacity years. fixed The networks,Authority especiallyfor the Digitalization in urban areas. of Romania However, is an in institutionterms of digital created public in 2020 services, to achieve Romania the objectives of the Romanian Government in the sphere of digital transformation of the Romanian society. The ghiseul.ro platform is a project developed by the Romanian Electronic Payments Association in 2011 and managed by Romanian Government, which offers taxpayers the opportunity to view existing payment obligations and to pay online with the credit card local taxes and duties, as analysis of the evolution of the digital platform ghiseul.ro between 2011‐2021. wellThe analyzed as existing data fines. includes The currentnumber research of payments study and provides their values, a comprehensive number of registered new users and number of new institutions available on the ghiseul. ro platform.
Keywords: digital public services, Digital Economy and Society Index, Romania.
2021 163 The mediating role of entrepreneurial leadership between perceived organisational culture and engagement Ramona Ștefania IGREȚ Bucharest University of Economic Studies, Bucharest, Romania Mihail BUȘU Bucharest University of Economic Studies, Bucharest, Romania Simona Irina GOIA (AGOSTON) Bucharest University of Economic Studies, Bucharest, Romania Cristian Virgil MARINAȘ Bucharest University of Economic Studies, Bucharest, Romania Roxana CLODNIȚCHI Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The link between corporate culture and employee engagement has awaken the interest of the business community and academia alike. Thus, the role that entrepreneurial leadership plays in this equation, has been neglected the perceived organisational culture (hierarchical, clan, market, and adhocracy) byas introducedscientific literature by Cameron so far. and Our Quinn paper’s (2011) purposes with isthe to level analyse of entrepreneurial the relations of leadership, as measured by ENTRELEAD and to test whether adopting an entrepreneurialresults presented leadership are based styleon a influencesquestionnaire the addressedextent to which to 108 employees employees are of engagedmultinational with theircompanies jobs (employee in Romania, engagement, a sector with as measuredone of the byhighest UWES degrees – 9). The of organisational culture, leadership and engagement, that might serve as a model for the rest of the economic sectors, that have not yet undergone a successful transformation process. The conceptual model is validated by econometric analysis of the data collected, using structural equations modelling.
Keywords: Corporate culture, employee engagement, entrepreneurial leadership
164 2021 The impact of national policy on entrepreneurship: A perspective from entrepreneurs in Vietnam Khanh Hung DOAN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Entrepreneurship has an important role in the economic and social development of each country. Building a suitable business environment and promoting entrepreneurship is the main task of the government of each country. Therefore, countries need to promulgate policies and regulations suitable to the characteristics of entrepreneurship of each country. From there, it is possible to create a policy environment that supports, maintains, and promotes the development of entrepreneurship in their own country. This paper focuses on research and evaluation of the impact of the national policies and regulations on entrepreneurship and enterprises. It is from the perspective of entrepreneurs in Vietnam. In addition, Vietnam is a developing country and has an economy in transition and integration with the world economy. The study is based on 1040 observation samples, provided by The Amway Global Entrepreneurship Report in 2018 on national entrepreneurship in the world. The results show that most entrepreneurs consider Vietnamese rules and regulations that easy regulations of the Vietnamese government are not the most important factor towhen understand entrepreneurs and follow, start in their general. businesses. However, The the results research presented findings contributeshow that to the promotion of studies that assess the impact of national policies and regulations on entrepreneurs as well as entrepreneurship. The paper concludes with a discussion of the results and implications of the study at the end.
Keywords: national policies, government, entrepreneur, entrepreneurship, Vietnam.
2021 165 Minitrack: Marketing and Sustainability Minitrack Chairs: Silvian CENȚIU, Ionel DUMITRU
Inredesigned their book, marketing Marketing by 3.0: advancing From Products a new model to Customers Marketing to the 3.0 Human approaching Spirit publishedcustomers aas decade complex ago, multi-dimensional Philip Kotler, Hermawan human Kartajaya, beings and and providing Iwan Setiawan them inspirational and inclusive products and services, satisfying their deeper needs for participation, creativity, community, and idealism. The ten principles of the new model create a different framework of designing and conducting marketing activities: loving customers and respecting competitors, getting readyto the providedfor change quality, and transformation, connecting continuously defining and and promoting positively clearwith customers,and strong values,looking focusing upon customers on the customers as customers that can for get life, the viewingmost benefits, the business pricing fairlyas a service business, improving continuously business processes, and consider all relevant information before making a decision. Marketing the mission to the consumers and the vision to the employees, channel partners, and shareholders results in delivering socio-cultural transformation, creating emerging market entrepreneurs, and striving for environmental sustainability. The main topics covered by the hereby call for papers are related (but not limited) to: • Consumer-oriented and societal marketing • Innovative customer-value marketing • Marketing research and consumer behaviour • Sustainable marketing strategies and planning • Product research, development and innovation • Marketing communication and sustainability • Marketing technologies and sustainability • Global marketing, local contexts and sustainable growth • Marketing education for sustainability • Building sustainable organizational cultures • Entrepreneurship, marketing and sustainability • Leadership, business ethics and sense of mission marketing • Marketing interventions and sustainable development • Good practices in marketing and sustainability
166 2021 Silvian Cențiu is an experienced educator, successful business executive and entrepreneur. He has over 20 years of teaching, lecturing, and speaking at leading universities, corporations and conferences in the US, Europe, and Asia. Silvian holds a MS from Stanford University and BS from University of San Francisco, He also studies and conducted research at TU Vienna, IP Bucharest, and other universities in the US and Europe. Currently, he is Associate Professor at ASE Bucharest, Faculty of Marketing. Silvian is a veteran of large Fortune 500 companies: Oracle, Sony, Aetna, Cisco, Thermo Fisher Scientific, Hewlett Packard Enterprise, Bank of Montreal, and Vodafone, Subject Matter Expert contracted by several governments including the United States Department of State (strategy for image of the US in the world), founder, developer, and advisor of several successful start‐ups (Transiris/Retina). His areas of expertise include: marketing, communication, entrepreneurship, education, nation branding, leadership, strategy, planning, innovation and creativity, digital transformation, and IT.
2021 167 Ionel Dumitru is Professor of International Marketing and Strategic Marketing at Marketing Department and vice‐dean in charge of scientific research and international relations of Marketing Faculty, Bucharest University of Economic Studies. He is member of the University Senate of the Bucharest University of Economic Studies, the academic governance commission. Conference chair at Emerging Trends in Marketing and Management International Conference Bucharest, Romania. He is reviewer at Amfiteatru Economic Journal, Journal of Emerging Trends in Marketing and Management and International Conference on Marketing and Business Development. He is project manager of the research project “Partnerships for Competitiveness for the Transfer of Knowledge through the Development of Innovative Computational Models for the Growth and Sustainability of the Romanian Business Sector” (ASECOMP) co‐financed by the European Development Fund Regional, through the Competitiveness Operational Program, Project ID P_40_382, having a 5‐year duration.
168 2021 The importance of the family brand Adriana CIOCA Valahia University, Târgoviște, Romania Kassam WEHBE Valahia University, Târgoviște, Romania Delia POPESCU Valahia University, Targoviste, Romania Constanța POPESCU Valahia University, Târgoviște, Romania
Abstract: The family brand recognition built over decades represents one of the most interesting marketing tools on which constantly the family worked. The marketing behaviour of the family businesses drag scholar’s attention on the sensitive ways that family worked on the psychological levels which facilitated the communication between family and their business brand. Brand management is one of the most important catalysts that underlie the performance of a family business, primarily by dominating the business niche and then by positively used at the level of stakeholders. The authors applied structural ecuation on influencingfamily businesses consumer by analyzing behaviour, the namelyrelation maximizingbetween their the R&D trust investment of the brand and revenue with the aim to leverage the family brand importance and their efforts in regards to future generation recognition. The Authors results advance extant reseach and will contribute to the discussion focused on the reverse symbiosys between family values and brand recognition.
Keywords: brand, family business, marketing, innovation, value, campaign.
2021 169 Viral Marketing and Its Influence on Customer’s Purchasing Decisions: A Quantitative Study in Lebanon Layal HAMADE Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Since the use of social media has increased dramatically allowing marketers to use it as an advertising tool and to communicate with customers frequently, viral marketing has become one of the most important strategies adopted by marketers to build brand awareness and brand engagement that will ultimately affect consumers’ buying decisions. So far, limited data is available about viral marketing in the Lebanese market. This research aims to study the effect of viral marketing on the purchasing decisions of customers. A quantitative study was conducted through distributing a survey to a sample size of 599 participants. The results showed that most people take their friends’ and families’ advices when purchasing a product online and they tend to share their product experience on social media and the content they are interested in. their ability to gather information from other consumers’ comments. Moreover, viral marketing influenced the buying decision of customers through Keywords: Purchase decision; social media; viral marketing; viral message; word of mouth.
170 2021 Reshaping the operating models, people practices and customer interactions for a sustainable business Teodora ABRAMIUC (TODORAN) Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Today, we are living and creating a world of changes for all given practices, from economical decisions to business models and leadership style in the ways of working or digital accessibility, with an impact on shifting the paradigms of the existing business ecosystems. This is the context of the current paper on addressing the reshaping efforts towards modern business ethics, innovative leadership decision and with a potential impact on customer marketing. Before covid-19 business models governed through rigid rules and embedded social practices. Today, nothing follows such regulated norms. From the business ethics, to the leaders’ decisions, everything changed, marking a new practice of business marketing, customer interaction and potential growth strategies. The article is proposing a qualitative deep dive into three major game changing models: the number one shift of business practices of the operating models, the number one change in leadership styles, meaning people practices and lastly, the game changer in terms of customer interactions. Basis a detailed review of the actions taken by the business to adapt, given available statistical data, the author is aiming to identify such three major pillars of change that predict economic impact. The paper inquires whether similar actions apply at different business scales, including the micro business sector for retail and commerce, and proposes a research on the economic impact of such businesses. The result brings a high-level scan of the economic landscape and the crisis impact absorption, basis major decisions from a business, people and customer approach.
Keywords: Retail, e-commerce, operating model, people practices, crisis, customer
2021 171 The Importance of Tools Specific Mobile Networks and Social Online Networks for Start-Ups in Bucharest David‐Florin CIOCODEICĂ Bucharest University of Economic Studies, Bucharest, Romania Nicoleta Valentina DUMITRACHE Bucharest University of Economic Studies, Bucharest, Romania Raluca‐Giorgiana (POPA) CHIVU Bucharest University of Economic Studies, Bucharest, Romania Ionuț‐Claudiu POPA Bucharest University of Economic Studies, Bucharest, Romania Ana Maria DUMITRACHE (BĂJAN) Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Currently, intelligent communication systems, especially those in the online environment are constantly expanding, the main step forward being and the analysis criteria, thus constituting various decision variants. which are theevaluated use of and models presented based to on the the decision specificity makers. of the Mobile decision-making networks and processes online social networks are the most accessible marketing tools that involve the target audience, but are also among the most important and topical tools for promoting a start-up. In order to survive in the market, it is necessary that the start-ups constantly adapt to the changes of the needs and expectations of the customers, also considering the strategies used by the competitors. The most important element is the integrated marketing communication which can be an advantage that can differentiate the startup from competitors, being valid in the long term in the conditions of continuous change of the market on which it activates and of the actions of the competitors. For start-ups, TV and radio commercials are almost impossible, involving high costs, mobile and online social networks out. The latter can create marketing and promotion campaigns, the main remainstarting the point most being affordable the keywords, and beneficial market fortargeting businesses by audience that are and just location, starting etc. The main advantage of integrated marketing communication through mobile networks and online social networks is that the message transmitted by a start-up is the same regardless of the tools for disseminating them.
Keywords: marketing communication, integrated marketing communication, start-ups, mobile networks, online social networks, online marketing, marketing tools.
172 2021 Awareness of the endogenous factors influence purchasing and consumption decisions Ionuț‐Claudiu POPA Bucharest University of Economic Studies, Bucharest, Romania Raluca‐Giorgiana (POPA) CHIVU Bucharest University of Economic Studies, Bucharest, Romania David‐Florin CIOCODEICĂ Bucharest University of Economic Studies, Bucharest, Romania Nicoleta Valentina DUMITRACHE Bucharest University of Economic Studies, Bucharest, Romania Bianca Cristiana VOICU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Companies use marketing to understand the consumer, produce products according to their needs and desires, and, as a result of consumer and purchasing behaviour, and these factors include psychological or endogenous satisfaction,factors. The determinationthe company makes of these a profit. factors Many is done factors through influence psychological consumption tests
In this paper, we review endogenous factors: perception, motivation, learning, orpersonality using research and attitude, aimed at depending consumers’ on reaction their impact to specific on consumer hypotheses decision- issued. consumer behaviour and an example of research that sought to determine the making. In addition to their definition, I also show how these factors influence reduce adverse effects for the company, generated by the endogenous factors of influenceeach consumer. of the element on consumer behaviour and how marketing can help
Keywords: Marketing, consumer behaviour, endogenous factors.
2021 173 Factors affecting consumers’ attitude and intentions towards online events during the COVID-19 pandemic Otilia‐Elena PLATON Bucharest University of Economic Studies, Bucharest, Romania David‐Florin CIOCODEICĂ Bucharest University of Economic Studies, Bucharest, Romania Margareta‐Stela FLORESCU Bucharest University of Economic Studies, Bucharest, Romania Ştefan Claudiu CĂESCU Bucharest University of Economic Studies, Bucharest, Romania Olguţa‐Anca ORZAN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The social distancing measures imposed in order to prevent the spread of Coronavirus had one of the greatest impacts on the global society during the postponement or cancellation of many types of events and event organizers laststarted period. to relocate For the eventstheir activities industry online.these measures Since the have COVID-19 generated pandemic indefinitely will in consumers’ behavior, it is necessary to measure and evaluate the impact haveof this long-term pandemic effects on the and events will industrymost probably from the determine consumers’ significant perspective. changes An online survey on a sample of 423 respondents was conducted in this regard. The research aimed to validate a structural model created in order to identify the consumers’ attitude and intentions towards online events. The proposed the influence of the COVID-19 pandemic and other factors of influence on structural equation modeling (SEM). The research results could be used by conceptualevent organizers model to was meet tested consumer and validated needs, tousing overcome the specific the obstacles methodology and toof improve the format and the deployment of online events.
Keywords: COVID-19; pandemic; Coronavirus; social distancing; online events; event marketing; attitude; intention.
174 2021 Some Considerations Regarding Integrating Corporate Social Responsibility in the Marketing Strategy of Banking Institutions Cătălin‐Valeriu CURMEI Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The paper tackles the optimal manner of using corporate social responsibility in banking institutions to improve relationships with stakeholders. Based on the previous literature, the paper explains how corporate social responsibility should be integrated in the marketing strategy of the bank, considering the relations of the banks with a wide range of stakeholders. The model emphasizes that it is important to integrate corporate social responsibility in the marketing plan in a structural manner, knowing that different types of stakeholders are sensitive to different behaviours of the bank in terms of sustainable actions undertaken.
Keywords: corporate social responsibility, relationship marketing, banks, stakeholders, marketing strategy.
2021 175 Feasibility study for the opening of a dental medicine clinic Ibrahim BAHBAHANI Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The paper reviews the steps to be taken for an entrepreneurial challenges of the current sanitary crisis, the funding shortages, the uncertainty endeavorof the general in the environment, field of private as well dental as of medicine the business in Romania, environment. considering The main the limitations and challenges are being reviewed, while advancing scenarios for successful implementation of such a business on the Romanian market. The conclusions of the paper comprise lessons learned and examples of best
Keywords:practices to entrepreneurship,be followed by young private entrepreneurs dental medicine, in the dentalRomania. medicine field.
176 2021 Minitrack: The Role of Innovation in Public and Private Organizations in context of digital transformation Minitrack Chairs: André CABANIS, Cezar-Petre SIMION, Oana Matilda SABIE The objective of the workshop entitled The role of innovation in public and private organizations in context of digital transformation is to bring together academicians with the representatives of the public and private organizations from different domains, such as: human resource management, public services, business environment, management of private organization, public management, development of public strategies and public policies, project management, etc. The workshop will allow both presentation of new research from the participants and also the discussions about the new challenges faced by the actors involved in the development of the two sectors after the COVID-19. The main topics of the workshop will revolve around: • Enhancing the capacity for innovation in Governance and Public Management • Innovation in Management of Private Organizations • New ways of collaborating and communicating between different stakeholders after COVID-19 (secure future communication systems and networks for public and private organizations; platforms for market support to SMEs, etc) large topics but is also open for researchers and practitioners bringing research Thepapers Workshop or use cases welcomes in other papers related and topics research falling in under the previously the broader 3 mentioned context of The role of innovation in public and private organizations in context of digital transformation.
2021 177 André Cabanis studied in Toulouse then joined the Faculty of Law and the Institute of Political Studies in Toulouse. He is Professor Emeritus of History of Law at the University of Toulouse‐1‐ Capitole (2015) and Doctor honoris causa of the Bucharest University of Economic Studies. In 1971, he defended his thesis on the history of law “La Presse under the Consulate and the Empire” (1799‐1814) then became an aggreged of law in 1972. From 1972 to 2015, he taught law at the University of Toulouse‐I ‐Capitole as professor attached to the Toulouse Center for the History of Law and Political Ideas (CTHDIP). During his career, he was successively: director of the Research and Information Center on the Right to Training from 1973 to 2000; project manager with the prefect of the Midi‐ Pyrénées region from 1973 to 2005 for cultural affairs and national education; director of the Toulouse Institute of Political Studies from 1980 to 1995; director of the University Press at Toulouse‐I‐Capitole University from 1993 to 2015; president of the commission of specialists in history of the institutions of the University of Social Sciences of Toulouse from 1996 to 2005; vice‐president of Toulouse‐I‐Capitole University then project manager, in charge of university presses and libraries, from 2003 to 2016. His research focuses mainly on the history of French law and institutions, on the law and institutions of the Maghreb countries and French‐ speaking Africa. He teaches law in many foreign universities: Dakar (Senegal), Ouagadougou (Burkina Faso), Casablanca (Morocco), Tunis (Tunisia), Bucharest (Romania), Hanoi (Viet Nam) or Beijing (People’s China).
178 2021 Cezar‐Petre Simion has a PhD in economics since 2008 in the specialty of management. He has been working for 15 years at the Faculty of Management within the Bucharest University of Economic Studies in the Management Department. During his teaching activity he has published as an author or co‐author 6 specialized books, 31 articles in journals indexed in international databases and 20 articles in the volumes of international conferences. He has been involved throughout his career in over 50 scientific research projects. In parallel with his teaching activity, he worked for 10 years as a scientific researcher at INCD URBAN – INCERC, the period in which he was for 4 years the head of the Construction Economics department. Also in parallel with the teaching activity, he was involved in the management teams within the University of Economic Studies as director of the Research and Innovation Management Department and vice‐dean of the Faculty of Management
2021 179 Oana Matilda Sabie studied Public Administration within Faculty of Management at Bucharest University of Economic Studies and got a PhD degree in 2008 in economics, specialty of management within Bucharest University of Economic Studies (BUES). Before joining BUES she collaborated with the Romanian Government, Ministry for Public Information, within Department of Communication and Public Image. Now she is a university lecturer and vice‐dean of the Faculty of Administration and Public Management (FAMP), Department of Administration and Public Management. Her research interests cover Management of Public Services and Organizational Behaviour. During her teaching activity she has published as an author or co‐author 7 specialized books, 14 articles in journals indexed in international databases and 34 articles in the volumes of international conferences. She has been involved throughout her career in over 23 research projects.
180 2021 E-Government and the General Population’s Digital Skills in European Union and OECD Member States Dorel PARASCHIV Bucharest University of Economic Studies, Bucharest, Romania Liviu TOADER Bucharest University of Economic Studies, Bucharest, Romania Maria NIȚU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Technological progress has made it possible to change modern society, from the perspective of social interaction, as well as the interaction with local authorities and government. The positive impact of digital technologies can be seen in the quality of the public services delivered by the government by
The e-government efforts were directed towards the use of technology to increasing the efficiency and transparency of the public sector organisations. digitalization of administrative procedures and transition towards paperless increaseadministration. the efficiency E- government and transparency depicts the of method the public with sector,which governmentsfor example, usethe the technology and information available in order to facilitate the administration, as well as to provide better services to citizens and businesses, providing the citizens the opportunities to participate in democratic institutions and political processes. The spread and adoption of technology has generated an increased demand for digital and technology related skills, which are extremely important in professional and personal development. The purpose of this research article is to analyse the relationship between the Organisation for Economic Co-operation and Development (OECD) Digital Government Index (DGI) and the percentage of individuals who have basic or above basic digital skills in the European Union Member States that are also members of OECD.
Keywords: E-Government, Digital Skills, Digital Government Index (DGI), European Union, OECD Member States
2021 181 The Perspective of the Development of the Industry of the Future in Romania in the Context of Big Data and Digitalization Constantin ANGHELACHE Bucharest University of Economic Studies / Artifex University of Bucharest, Bucharest, Romania Mădălina‐Gabriela ANGHEL Artifex University of Bucharest, Bucharest, Romania Ștefan Virgil IACOB Artifex University of Bucharest, Bucharest, Romania Dana Luiza GRIGORESCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Industry is still the main branch that contributes to the formation and in which it was once even among the countries with a pronounced industrial growthaccent. Givenof GDP. the The resilience Romanian and industry development has lost of its the supremacy smart economy, in a series we of can fields, no longer talk about reindustrialization but about the development of Romanian industry on multiple levels, taking into account the possibilities created by information technology, digitization of activities in society and so on. These can robotics,be done in biotechnology, the context of nanotechnology a large volume of development, data, which artificialmust be intelligence,applied and taken into account. The objective of this article is to identify the possibilities and perspectives of Romania’s evolution in the current context, in a double sense: to bring the industry back to the level of European and global competitiveness, and so as to maintain the priority role of this branch. As a method we used the ondescriptive the other method hand to and find statistical the formulas, methods, even which though highlight the process the correlation of resilience, that mustof the exist possibilities between available the branches to Romania of a modern to align economy. with the We restructuring used data provided of the byindustry the NIS at the and level Eurostat. required This by articlethe current has asconditions final objective in which the it identificationis achieved in the Member States of the EU.
Keywords: Industry, resilience, robotics, digitization, Big Data.
182 2021 Evaluation of corporate social responsibility level of Ukrainian nuclear energy producers Olena GRISHNOVA Taras Shevchenko National University of Kyiv, Ukraine Kateryna BEREZIUK National Academy of Sciences of Ukraine, Ukraine Bilan YURIY Rzeszow University of Technology, Poland
Abstract: The paper considers the role of the corporate social responsibility development of the Ukrainian nuclear energy producers to ensure the effective functioning of this industry. The sustainable development of national state in all social-economic spheres depend heavily on effective employee management where safety plays the main role. The purpose of the article is to evaluate the and to identify reserves for improving enterprise employee management. To the corporate social responsibility development of the of NNEGC “Energoatom” traditionally this tool is used mainly as a method of strategic management. A achievesystem ofthis 23 goal, indicators the method has been of SPACE-developed analysis to evaluate has been the modified,level of corporate because social responsibility of NNEGC Energoatom. Four groups of factors were article covers the activities of the enterprise during 2016-2020. On the basis of identified,mathematical each calculations, of which wasthe SPACE assessed - analysis by a set matrix of relevant is constructed indicators. and Thethe
NNEGC Energoatom indicates a high level of CSR. Despite the effective CSR policy strategyof NNEGC of Energoatom, CSR development some isproblems defined. stillThe exists. evaluation Based of on the the level analysis, of CSR the of
In particular, ensuring a competitive salary, increasing the level of occupational wayssafety, for improving improving the the internal CSR of communication nuclear energy system. producers The havepractical been value identified. of the different types of enterprises with different aims and objectives. analysis: modified method of SPACE - analysis can be used to evaluate the CSR of Keywords: corporate social responsibility, nuclear energy, SPACE - analysis matrix, Ukraine.
2021 183 A bibliometric review on the drivers of enhancing reputational risk management Nadia CIOCOIU Bucharest University of Economic Studies, Bucharest, Romania Elena Andreea POPOVICI Bucharest University of Economic Studies, Bucharest, Romania Ileana GAVRILESCU University of Wuppertal, Germany
Abstract: Reputational risk management has a major importance on the activity of an organization. Its management is essential, a proactive attitude towards the possibleThe aim eventsof our thatpaper can is damage to identify the thereputation drivers ofof a enhancing company andreputational their efficient risk administrationmanagement. Throughout are defining the steps bibliometric for the preventionanalysis of the of thespecialised reputational literature risk. quantitative approach, the tools that support the application, development and belongingimplementation to the fieldof reputational of reputational risk management.risk management, Using we this evaluated, analytical through method a we want to contribute to the improvement of both reputational risk management andwhich the resulted increase in of 306 research papers. in related fields. The present bibliometric analysis is performed in the “Web of Science” database, following our search for “Topic” Keywords: reputation risk, Reputational risk management, bibliometric analysis, Web of Science.
184 2021 Maintaining economic macrostability in the conditions of developing the smart economy through digitalization and other modern forms Constantin ANGHELACHE Bucharest University of Economic Studies, Bucharest, Romania Artifex University of Bucharest, Bucharest, Romania Mădălina‐Gabriela ANGHEL Artifex University of Bucharest, Bucharest, Romania Ana Maria POPESCU Bucharest University of Economic Studies, Bucharest, Romania Ștefan Virgil IACOB Artifex University of Bucharest, Bucharest, Romania
Abstract: Macrostability involves maintaining correlations and proportions at the macroeconomic level, so that they are subject to the fundamental law of the free market-the ratio between supply and demand. The purpose of this article is to analyse the current situation of Romania’s national economy, the context in which some macroeconomic correlations and proportions have been affected and the danger that they will lead to macroeconomic destabilization. The authors aimed to gradually highlight the macroeconomic situation in the that in the literature there are theories that lead to the conclusion that we are conditionscurrently witnessing of health and a new economic global reset. and financial In the last crisis. period, It was there taken are datainto accountof some researchers who have studied and concluded the situation of the economy at this moment and the perspective of its evolution. In the research starting from the proposed objective we used statistical methods (index method, structural quantities, dynamic quantities) and the statistical-econometric model of multiple regression. The authors contribute to broadening the methodological framework for analysing the maintenance and return to macrostability. The paper contributes by adapting and using some statistical methods in the analysis. Modern forms of economic improvement, activities at the macroeconomic level, are analysed in a concrete way. Based on the study of a large volume of data provided by the NIS and Eurostat, as well as from the conclusions drawn by other of the study. researchers who had concerns in this field, we will draw the main conclusions Keywords: macrostability, proportions, correlations, digitization, Big Data, smart economy.
2021 185 The Art of Product Management ‒ a Practical Guide for Product Value Maximization Maria Daniela LICA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: products that truly address our customers’ needs has become a very challenging In a realm overflowing with innovation hype, creating winning their customers, reduce risks, and generate great value for their businesses, they assignment.are unlikely toWhile succeed everyone without aspires the right to build methods. the most This desirable article is productsa case study for based on qualitative and quantitative research (252 respondents to a survey) that aims to identify which worldwide techniques help product managers balance the four big risks: value, usability, feasibility, and business viability. The sweet spot is about true product teams that move beyond the classical Agile delivery methodologies, adopting a continuous-discovery mindset, and taking full ownership of their outcome while making evidence-based decisions at each step of their product development process. Moreover, the paper consists of a list of recommendations on how to apply some essential Product Management principles such as a focus on the outcome, not on the output, usage of the right product metrics, and empowered teams.
Keywords: Product Management, Business Agility, Experimentation, Data- driven Products
186 2021 Use of the computer system for monitoring turnout and preventing illegal voting in the 2020 local and parliamentary elections Alexandra IANCU National University of Political Studies and Public Administration, Bucharest, Romania Parliamentary Counselor, Permanent Electoral Authority, Romania
Abstract: The paper deals with the topic of the Informatics system for voting attendance and the prevention of illegal voting, the selection and designation of the computer operators of the polling station electoral bureaus (SIMPV) elaborated by the Permanent Electoral Authority and approved by the PEA functioning of the computer system for monitoring the presence of the vote Decisionand preventing no. 36/2019 the illegal which vote, is entitledthe selection, Methodological designation norms and attributions regarding the of the computer operators of the electoral bureaus of the polling stations, the as well as the audiovisual recording conditions of the operations performed by verificationthe members of ofthe the correlations polling stations’ in the electoralminutes bureausof recording for counting the voting the results, votes. The paper presents the importance of this system and the role played by the computer operators of the electoral bureaus of the polling stations, the way of recruitment, examination and the tasks they perform.
Keywords: Information system for voting attendance and prevention of illegal voting, Permanent Electoral Authority (PEA), computer operator, selection, electoral bureaus of the polling stations, Special Telecommunications Service, voter.
2021 187 Legal risk in the context of artificial intelligence use Nicolae PANĂ Bucharest University of Economic Studies, Romania
Abstract: Public and private organizations are going through a digitalization process imposed by the technological revolution but also by the pandemic context in which we live today. The current technological revolution forces public entities to respond in real time to the requirements imposed by private entities and by economic context. This is a repercussion of the reality according to which private entities react to internal and external factors and the need to adapt their policies and management to new challenges. In this paper we will generate quantitative and qualitative data that can lead to the need to amend the analyzenormative how acts the issued applications by public of authoritiesartificial intelligence but also by and the big legislative data analysis power. can At methods with the existing public data, obtained in other ways than through the same time, we will corroborate the data obtained through specific research artificial intelligence applications. Also, at the end we will corroborate the data obtainedbelieve that through the current artificial challenges intelligence endanger applications the public-private to establish theirbalance accuracy and it and to formulate proposals in accordance with the principles of law in force. We intelligence applications and digitalization in order to restore the contractual can be restored if both public and private entities understand to use artificial
Keywords:balance for the benefit of social peace. risk. Artificial Intelligence, digitalization, technological revolution, legal
188 2021 Challenges of Civic Participation at EU – level during COVID-19 Pandemic: European Citizens’ Initiative Andra KARLA University of Bucharest, Romania Andreea Ligia DRUGAU‐CONSTANTIN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: One key factor in achieving the modernization both of a country and of a supra-national organization is to have functional mechanisms that facilitate
European citizens’ initiative and its development during COVID-19 pandemic. theThe participationstudy initiates ofwith citizens. the theoretical This paper framework aims at covering exploring both the several efficacy theories of the on the topic of civic engagement and the legislation ensuring the functioning of the European Citizens’ Initiative. It continues with the analysis of the initiatives that were submitted to conclude if the mechanism is successful. The case study focuses on the effects of COVID-19 pandemic on both the functioning of this mechanism and on the characteristics of the proposed initiatives. The article does not study the impact of the approved initiatives or the relevance of their subject, it only analyses the success rate of this mechanism in terms of approval initiatives. and the effects of the pandemic on the procedure and on the specificity of the Keywords: civic participation, European citizens’ initiative, European Union, efficacy, modernization, COVID-19 pandemic.
2021 189 Minitrack: Business Law and Sustainable Development Minitrack Chairs: Ovidiu Ioan DUMITRU, Roberto PANETTA Sustainable development becomes an imperative of contemporary society, illustrating major societal challenge of utter importance for all actors enroll in public sector, industry and civil society. Therefore, urgency to take action combined with the large scale societal changes call for new approaches in drafting a more suitable legal framework. The evolution of global sustainable development strategies is driving a need for a new vision of legal studies that combine business concepts with environmental and social considerations and coordinate Business Law and Sustainability Policy for a more sustainable future. Moreover, the appraisal of the relationship between sustainability and businesses has been revived according with the Sustainable Development Goals which represent a global movement towards sustainability. The goal of this track is to debate principles, key concepts, methods and harmonization of legal aspects of Sustainability with economic imperatives. The participants will identify opportunities of legal aspects in a sustainable development in various thematic and strategic subjects, thereby contributing to the improvement of these of sustainable development (economic, environmental, and social) are highly domainswelcome. scientifically and practically. The topic related to all three dimensions
190 2021 Ovidiu Ioan Dumitru is Lecturer PhD. of Business law European Law and Contract Law in the Law Departament of the Bucharest University of Economic Studies. He is a member of the Board of the Departament and has been teaching law in English for the last 15 years. He is the General Secretary of the Romanian Society of Business Law and the President of European Society of Construction Law. He has been a member of the Education Commission of the Romanian Parliament for 4 years. He is the Editor‐in‐Chief of the Romanian Construction Law Review and is a member of the organising teams of different international conferences. Ovidiu holds a Phd in Law, a PhD in Mine, Oil&Gas and a MBA from WU Executive Academy. He is author and co‐author of more articles and books in the field of Business Law and European Law.
2021 191 Roberto Panetta is Attorney at Law in Italy and Professor of Private Law at Bocconi University of Milan. He is specialized in Contract Law, Construction Law and Dispute Board. He is active in advising on contractual issues, Dispute Board implementation and in representing companies in civil proceedings and arbitration. He has authored one book on Construction Law, several articles, commentaries on Contract Law, Arbitration and Dispute Board. Roberto Panetta is, among others, Secretary General of the Italian Society of Construction Law affiliated with the European Society of Construction Law.
192 2021 Personal Data between Individual Protection and the General Interest Dragoș Mihail MĂNESCU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The processing of personal data by national security institutions and bodies or by law enforcement is carried out on the basis of special legislation, derogating from the Lex generalis (GDPR). This paper examines some of the challenges posed by the need to protect national security, to prevent, detect and combat crime and, at the same time, to respect and protect the right of the individual to the protection of personal data and privacy and family life.
Keywords: intelligence, personal data protection. GDPR, Directive 680/2016, automatic processing, profiling, artificial
2021 193 The new direction of the EU: The creation of a digital Europe Roxana Maria CHIRIEAC Bucharest University of Economic Studies, Bucharest, Romania Andreea STOICAN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: In the latest years, at the European Union level, a new concern has been representing the new direction for development not only for the environmentalists, but also for the political and business world. As such, more and more budget is allocated by the EU itself, member states, companies and even private individuals towards the protection of the environment, to speed up the process of digitalization and the creation of a green climate. The European Union yearly presents reports upon the situation of the environment and climate change and the conclusion can only lead to the need of developing new partnerships and funding the transition to a new digital era. The present paper, therefore, aims in presenting the current situation of the climate concerns at the level of the EU, the proposed solutions towards a digital Europe, these methods and their particularities, both from a theoretical and practical point of view and their expected short-term and long-term results.
Keywords: climate change, European Green Deal, ecosystem degradation, digitalization.
194 2021 The interplay between artificial intelligence and intellectual property in a digitalised society Ionela CUCIUREANU Bucharest University of Economic Studies, Bucharest, Romania
Abstract. of AI, one Artificialcould hardly intelligence imagine is that a concept the legal that world, began governedto penetrate by principles,slowly but surely, various fields of the modern society, one of them being law. If at the dawn otherwise than as a management tool, nowadays we face problems such as the rulespossibility of interpretation for a form of and AI tohuman be subject analysis, to an may intellectual be subject property to an “AI right, intrusion” more precisely if AI can be recognised as inventor in the registration process of a and peace” relation between intellectual property law, traditionally perceived as patent.the area We of shalllaw most therefore inherently focus ourconnected analysis to on mere the multiplehuman characteristics avatars of the “warsuch
Keywords:as creativity and inspiration and artificial intelligence.
artificial intelligence, intellectual property, patents, DABUS, inventor.
2021 195 Some considerations of Romanian legal framework on online sale of OTC medicine. Coordination or contradiction to European legislation? Simona CHIRICĂ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The present work is aimed to answer to a very interesting and mainly the existence of coordination or contradiction between Romanian (i.e. sensitive legal issue on Romanian pharmaceutical field. This issues regard TFEU3) in respect of the delivery of the online sale of OTC medicine only from Romanianpharmaceutical Pharmacy units. Law no. 266/20082) and European legislation (art 34
Keywords: pharmaceutical unit, OTC, European legislation, online sale
196 2021 Human resource management strategies in light of globalization Al Nafrachi MUSTAFA Bucharest University of Economic Studies, Bucharest, Romania Enas ABOURA Bucharest University of Economic Studies, Bucharest, Romania Al‐Mafrachi Maha SAAD Bucharest University of Economic Studies, Bucharest, Romania AL‐Waeli MUTHANAA Ministry of Agriculture, Bagdad, Iraq
Abstract: This study aimed to analyze human resource management strategies instrategies light of in globalization light of globalization. by defining The what study is meant started by thefrom term two globalizationhypotheses: ofglobalization, human resource in one managementway or another, and affects defining the management human resource system management in general in organizations and is consequently affected by human resource management. countries creates problems related to human resource management in light of Theglobalization. digital divideThe study and relied the on decline the descriptive of scientific and researchanalytical inapproach developing as it studies the phenomenon as it is in reality and is concerned with its accurate description. The study reached a number of results, including: Globalization is a sees that people management is one of the basic functions in the organization, setand of it changes also has occurring the same in other different functions areas ofsuch life. as Specific, production, and the marketing, modern view etc., and this is due to the importance of the human element and its impact on the productive efficiency of the organization. Many tasks that are considered vital, Keywords:such as attracting qualified workers.
HR, globalization, strategy, management system.
2021 197 Voucher based work - as an innovative form of employment Mihaela Emilia MARICA Bucharest University of Economic Studies, Bucharest, Romania
Abstract. Across Europe, there are many new employment arrangements atypical contractual models convert the relationship between employer and thatemployees, deviate while significantly others involve from standard changes onemployment work organization contract. or Some job patterns.of these In opposite of traditional employment is also the employment model based on the voucher system. Voucher-based work describes situation, in which the labor relations and related payment is based on a voucher rather than an employment contract. Since the Voucher-based arrangements are still relatively little known in Romania, the goal of this article is to analyse the particular features of the service voucher system as an innovative employment form. Based on a comparative law analysis (by reference to states such as Belgium, Italy, Austria) relations, this paper highlights the usefulness of implementing voucher-based conductedwork on a nationalin order labourto find outmarket the implicationsas a strategy of to this combat new undeclaredjob pattern onwork labour and as a consequence to create low-skill jobs.
Keywords: employment, legal, voucher, labour.
198 2021 International economic sanctions and their impact on sustainable development Adrian COROBANA Bucharest University of Economic Studies, Bucharest, Romania
Abstract. The paper analyzes how the international economic sanctions harm the environment in the target countries, using case studies. The international economic sanctions have a perverse effect, including in the states who imposed those sanctions, because the targeted countries are trying to cope with the international economic sanctions by adopting unsustainable actions which harm the environment, in order to mitigate the pressure of sanctions. And the effects of those actions are transboundary from an environmental point of view, and the sanctioning states are suffering themselves through a boomerang effect.
Keywords: international sanctions, sustainable development, boomerang effect.
2021 199 The Romanian NGOs and the sustainable development Loredana COSTINA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The article analyzes the dimensions and the role of the Romanian environmental NGO’s. Using an empirical approach to the measurement of the Romanian environmental civil society, the paper offers a wide picture, by presenting extensive data on the distribution of different types of organizations within Romanian civil society. Also, the article is analyzing the legal framework for these kind of organizations and their implication on creating environmental policies for a sustainable development.
Keywords: NGO, sustainable development, Romania.
200 2021 Reflections Regarding the Rule of Law and Human Rights during States of Emergency Andreea STĂNCIULESCU C.H. Beck Publishing House, Germany
Abstract: The spread of the COVID-19 pandemic in Europe has led Member States to take a number of emergency measures to stop the spread of the virus. carry out health checks, to restrict domestic and international travel, to close Moststores EU and Member public States’places, governments schools and haveuniversities called for and “states to drastically of emergency” restrict to special situations designed to deal with exceptional crisis situations that individualderogate from freedom the normal of movement functioning and of association. the democratic “States state of based emergency” on balance are and the full retention of our fundamental rights and freedoms. European history shows us that a state of emergency can turn a democracy based on the rule of law and fundamental rights into a totalitarian, oppressive and aggressive regime. Through this analysis we propose a preliminary assessment, in terms of proportionality, of the declaration of the state of emergency and the inherent increase of government powers (sometimes also of the police and military) and the correlative weakening of parliamentary and justice powers, causing a serious blurring of the lines that separate the executive, the legislative and the judiciary. These actions resulted in an imbalance in the system of checks and balances that underlies democracy, but also in the restriction of human rights and fundamental freedoms, by derogating from the obligations under
4 of the International Covenant on Civil and Political Rights (ICCPR), possible if Articleexceptional 15 of public the European danger threatens Convention the existenceon Human of Rightsthe nation. (ECHR) and Article
Keywords: rule of law, human rights, EU.
2021 201 Minitrack: The role of accounting in Sustainable Development Minitrack Chairs: Donna L. STREET, Nadia ALBU The UN Sustainable Development Goals (SDGs) agreed by all UN countries in 2015 provide a platform for action for companies for a sustainable future. Accounting has a role to play in delivering these objectives, by measuring and providing reports on risks and opportunities, and on the progress made. The accounting profession is part of the wider group of actors working together to achieve the SDGs. “IFAC’s vision is that the accountancy profession is essential to strong, sustainable organizations, financial markets, and economies. Consequently, the accountancy profession has a crucial role in the 2030 agenda for sustainable development, as represented by the Sustainable Development Goals (SDGs) aimed at sustaining people, planet and prosperity.” (IFAC, 2019) Accounting research has incorporated, for many years, sustainability-related issues, and more recently SDGs agenda is clearly part of the topical issues investigated.call for accounting However, researchers professional to incorporate bodies and researchersSGSs was made only by directly Bebbington, engaged J. in SDGs-related research in the last few years. For example, a recent influential Development Goals: An enabling role for accounting research” published in andAccounting, Unerman, Auditing J. (2018) & inAccountability their paper “Achieving Journal. Accountingthe United Nations academics Sustainable are this invited to advance research on the pursuit of SDGs by focusing on issues that are relevant for the society. The main topics covered by the hereby call for papers are related to: • Corporate reporting on SDGs • The role of the accounting profession in delivering the SDGs agenda • Accounting education for SDGs • Accounting technologies in SDGs analysis • the role of accountants • Standards,Re-defining frameworks boundaries andbetween regulatory professions initiatives in SDG-related to account practicefor, measure and and report SDGs related issues – evolution over time and consequences on practices • The role of the local context (culture, socio-economic environment) in the accounting responses to SDGs • SDGs-related accounting interventions
202 2021 Donna L. Street is Professor, Mahrt Chair in Accounting and Chairperson, Department of Accounting at the University of Dayton. Prof. Street received an Honorary Doctorate from the Bucharest University of Economic Studies. She serves as Director of Research and Educational Activities of the International Association for Accounting Education and Research (IAAER) and previously served as the Association’s President, VP Research and VP Communications. Prof. Street coordinates the IAAER KPMG research grant program to inform the IASB and is a member of the UNCTAD‐ISAR Accounting Research Network. Previously she served as President of the International Accounting Section of the American Accounting Association and receivedthe section’s Outstanding International Accounting Educator Award and its Service Award. Professor Street’s research focuses primarily on international financial reporting issues including compliance and segment reporting.
2021 203 Nadia Albu is professor of accounting and Deputy Dean of the Faculty of Accounting and Management Information Systems, in charge with research and international relations. Dr. Albu has been a teacher and researcher at ASE since 2000 and had in parallel an extensive international experience, including a master degree obtained in 2001 from Université d’Orléans, France, a Fulbright visiting professor grant obtained in 2014, a Deloitte‐IAAER scholar grant between 2013‐2016, and a visiting professorship at ESSEC Business School, France, since 2016. Dr. Albu is actively following the changes in the accounting profession globally, being partof teams conducting research for IFAC and Edinburgh Group. Her main research interests focus on the transformations of accounting systems in emerging markets, investigating the change and inertia in the accounting field (corporate reporting, auditing, management accounting etc.), acknowledging the importance of interdisciplinary research for an in‐depth understanding of accounting phenomena in their environment.
204 2021 Digitalization in accounting: A Structured Literature Review Oana Cristina STOICA Bucharest University of Economic Studies, Bucharest, Romania Liliana IONESCU‐FELEAGĂ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Digitalization brings with it many changes worldwide, especially inobjective those of field this wherepaper is information to synthesize technology the recent academic is indispensable. works on Accountingaccounting professiondigitalization is area such and a field to give where some digital insights transformation for future takesresearch its tool.by using The researchers direct their attention on three main aspects: accounting education, aprofessional structured regulation, literature and review accounting (SLR). Thepractice findings by showing of our how study each show of them that contributes to changes in accounting profession following its digitalization. The present paper could be of interest for researchers as it gives a summary of the existing recent literature in accounting digitalization.
Keywords: digitalization, accounting profession, structured literature review (SLR), accounting education, accounting practice.
2021 205 Interdependence between ERP and Human capital in obtaining smart data Diana‐Nicoleta NIȚĂ Bucharest University of Economic Studies, Bucharest, Romania
Abstract: The objective of this research is to identify the limitations of an ERP system and the additions that human capital brings to ERP system in order to obtainestablished smart in data. a company It is known that that applies ERP systemsERP systems are systems is crucial that betweenfulfil, at a ERP-high level, the internal requirements in the accounting field. The relation which is system through assessing the processed data. Thereby, smart data is the result human capital-smart data. Human capital is the one that fills the gaps of an ERP known the limitations of an ERP system and the impossibility of automating all of the relation between human capital and the ERP system. However, it must be the quantitative method was used. The questionnaire was applied on a sample the financial processes. To analyse the limitations of high performance systems, order to obtain smart data. This questionnaire was applied to employees who of Romanian respondents who use ERP systems in their financial processes, in workthe main in financial-accounting limitations that employees departments. have in Thereby, using an the ERP key system people and perception the add fromvalue thethey Romanian bring to financialobtain smart field data.was obtained.Based on The the researchresults obtained, results identify it was used in creating smart data. identified the real and actual perception of the respondents about ERP system Keywords: ERP, human capital, smart data.
206 2021 Blockchains and tax compliance ‒ a methodological approach Bogdan Florian AMZUICĂ Bucharest University of Economic Studies, Bucharest, Romania Roxana Adriana MITITELU Bucharest University of Economic Studies, Bucharest, Romania
Abstract open type economies, interdependent international economic relations have : Within the contemporary market economy and the generalization of They have contributed to the emergence of new business relationships based emergedon the international based on an exchange open system of outcrying of both type economic that did and not financial involve, exchanges. due to the dynamism as well as of the new economies of the type of digital economies, and a quick adaptation of the customary normative framework and of the legal framework to the new context. The objectives of this article are represented corresponding legal and normative framework and of the forms of circumvention byof the the resulting identification taxation of principles.these new Theeconomic-social research methods relations used as were well qualitative as of the methods respectively descriptive methods as well as quantitative methods respectively indices and aggregate economic indicators and econometric relations of regressive and correlative type. The results of the article aimed to identify new modern and self-contained methods of combating international tax evasion, respectively the exchange of information and the adequacy of the legal normative framework to the new economic realities.
Keywords: blockchain, economic indicators, tax compliance.
2021 207 Non-financial reporting in Romania - from legislative aspects to practical application Luciana Simona PASCU (MIHĂILĂ) „1Decembrie 1918” University of Alba Iulia, Romania
Abstract: In recent years, in response to the needs of stakeholders, the level
Considering the relational dynamics between states and companies, we aim of reporting of non-financial items, globally, has registered a positive evolution. to analyze how strongly Romania is committed to presenting non-financial information.the way in which In this these sense, provisions we want toare present applied in ina structured the reporting way by the companies. specificity of non-financial reporting in Romania, the national legislative regulations and documentation and is followed by an analysis of the way in which Romanian The research methodology of this paper begins with a first stage of scientific
Keywordscompanies report non-financial elements.
: reporting, non-financial items, Romania.
208 2021 Workshop: Branding and Training talented researchers for new entrepreneurial and digital society Minitrack Chairs: Sebastien POINT, Alina Mihaela DIMA, Carmen PĂUNESCU The workshop aims to train a new generation of creative, entrepreneurial and innovative early-stage researchers, able to face current and future challenges in organizations. It also aims to convert knowledge and ideas into products and
This event will develop research opportunities for both the doctoral students of Bucharestservices for University economic of and Economic social benefit. Studies and EM Strasbourg Business School, extending the traditional academic research training setting, incorporating elements of digitalization and equipping researchers with the right combination of research-related and transferable competences. It will provide enhanced career perspectives in both the academic and non-academic sectors through international, interdisciplinary and intersectoral mobility combined with an innovation-oriented mind-set. The main topics covered by the hereby call for papers are related (but not limited) to: • The role of entrepreneurship education in the context of sustainable development challenges • Methods for stimulating the national entrepreneurship within the digitalization process of European economy post – 2020 and industrial revolution Industry 4.0 • Talent management and Leadership: post-crisis scenarios • sustainable community development • BusinessThe role ofmodelling business incubatorsin the digital supporting era and small the cities/ruralnew economic business context for (determined by the SARS-CoV-2 pandemic) • Explore organization knowledge to concept sustainable strategies: a methodology for action-research employing system thinking and bio- economic concepts • The introduction of management control and management in hospitals in
• from the case of Djibouti. African countries; Reflections • at work Inter-organizational transferability of an innovative process in the Thehealth influence sector. of managerial discourse on the legal qualification of suffering
2021 209 • Understanding the impact of national culture on the relationship between expatriate managers and local employees: The case of foreign companies in Vietnam • haute cuisine chefs • TheCreative effects strategies of the and appropriation reconfiguration of BusinessBIntelligenceof a mature field: the case & ofAnalytics French (BI&A) systems on the role of the management controller.
210 2021 Since 2009, Sebastien Point is full professor at EM Strasbourg Business School, Université de Strasbourg (France) where he teaches International Human Resource Management and International Management. Since 2016, he is heading the research center “HuManiS” at EM Strasbourg Business School. Every year, he teaches in international programs to a wide international audience. He holds a PhD from Université de Lyon (France) since 2001. He has published in many national and international peer reviewed journals. His research is widely spread and discussed in multinational companies where he holds regular trainings and presentations.
2021 211 Alina Mihaela Dima is a full Professor at the Bucharest University of Economic Studies, Faculty of Business Administration in foreign languages and Vice-Rector with Research, Development, and Innovation since March 2020. In the period 2011-2020, she was the Director of the Department for Business Administration in foreign languages (UNESCO Chair) at the Bucharest University of Economic Studies. Her main research fields of interest are: International Business, Competition Policy, European Integration, Higher Education. She is one of the founding members and former President of the Association ‘Society for Business Excellence’, Chief-Editor of the international journal ‘Management & Marketing. Challenges for the Knowledge Society’ indexed in more than 20 international databases (Emerging Sources Citation Index (WoS-ESCI), Scopus, Cabell’s, Index Copernicus, CEEOL, EBSCO, RePEc, DOAJ, Ulrich and ProQuest) and published by De Gruyter German Publishing House (Sciendo) and President of the ‘International Conference on Business Excellence’ (indexed in Thomson Reuters ISI Web of Science (WOS) Conference Proceedings Citation Index). She is also the Conference Manager of the ‘International Conference on Economics and Social Sciences’ (ICESS), organized by the Bucharest University of Economic Studies. She has presented various papers at international academic and she has published more than 100 articles, books, and papers in prestigious national and international journals. She is the editor of various books published at national and international prestigious publishing houses (Springer, IGI, etc) and coordinator of some research projects.
212 2021 Carmen Păunescu is a Professor of Entrepreneurship at the UNESCO Department for Business Administration, Bucharest University of Economic Studies (ASE), Romania. Her teaching and research background includes experiences at various universities from Italy, Sweden, Belgium, France, USA, Germany, Estonia, the Netherlands. In 2004, Carmen received the prestigious Fulbright Scholarship at Loyola University New Orleans, New Orleans, LA, USA. Since 2011, Carmen holds the position of academic doctoral supervisor at the Doctoral School for Business Administration, ASE. She currently supervises several doctoral theses in the areas of social innovation and entrepreneurship and social value creation. Carmen is an expert and local coordinator of the Erasmus+ project “CLLC – Community Learning for Local Change” (localchange.eu) and Erasmus+ project “VISEnet – Village social enterprise: learning material, guidance and networking (ruralsehub.net/visenet-overview). She also leads the WG2 Higher Education Institutions (HEI), social change and transformation under the COST Action CA 18236 Multidisciplinary innovation for social change (socialchangelab.eu). Carmen published over 50 peer-reviewed articles, books and book chapters.
2021 213 Positioning Business Incubators in Regional Innovation Ecosystems Enikő MÁTYUS Bucharest University of Economic Studies, Bucharest, Romania
Abstract: Business Incubators are policy instruments for new business creation, support and development. In Europe, these structures were established in the comprehensive meaning. By supporting the growth of innovative start-ups, lastBusiness decades Incubators and by the also years, enhance the definition the regional of these innovation. entities Thisacquired paper a moreaims ecosystems, by identifying and analysing the players and the policy instruments towith redefine similar theobjectives position and of focus. Business Therefore, Incubators a comparative in the regional analysis innovation has been carried out between Business Incubators, Coworking Spaces, Accelerators, members, etc. The paper aims to demonstrate the overlaps between the Clustersconcepts and related Digital to entrepreneurial-enabling Innovation Hubs concerning on regional their services, level in targetthe context groups, of synthesizes the key components of a collaborative communication platform innovationwith the mission and digital to improve transformation. the impact andWe proposeconsolidate an overarchingthe position ofmodel Business that Incubators in the regional innovation ecosystem approached as ecosystems in the ecosystem. The research led to the recognition of the need of new generation drafted in this sense. business incubators with regional mindsets and a definition proposal has been Keywords: Business incubator, regional development, regional innovation ecosystems, digitalization, digital innovation hub.
214 2021 A Tiered Digitalization Framework for Innovation and Sustainable Business Growth Nicolae VAVURA Bucharest University of Economic Studies, Bucharest, Romania
Abstract: As digitalization is becoming the norm, there is an increasing body of academic work examining the impact and utility of digitalization upon become apparent that there is a certain lack of exploration when it comes to businessdigitalization processes, and its innovation,role at the strategic and growth. and macroeconomic However, it has level. only This recently has resulted in the treatment of digitalization as a pure transformation process, ignoring to a certain extent the prioritization of strategic digital goals in an of a digitalization framework, split on levels based on the degree and method or efficientprocess automatizationmanner. This paper present submits in a acompany. research Based proposal on intothe literaturethe development review, it examines the companies’ needs for a tiered digitalization that sustains their innovation efforts and business growth. Ultimately, the objective of such a digitalization framework is to allow the categorization of companies into different levels which would permit them to focus on those digitalization objectives and innovations that would have the most impact on their activity, disruption. At the same time, the digitalization framework will aim to become facilitatinga potential amedium more sustainable for macroeconomic budgeting andanalysis, financing, enabling while policy limiting makers internal to examine the digitalization state of the organizations within their economy, as well as create development programs that are better targeted and more timeline analysis of digitalization for different companies, aiming to benchmark efficient.the stages The of digitalization, research proposal and then will conductingbe achieved a byquantitative conducting analysis a comparative in order to see whether the hypothesized tier benchmarks are correct. Future research directions will also be identified, mainly related to refining the nature of the tier benchmarks and ideas on particularities of adapting the model to fit different Keywords:industry specificities. Digitalization, tier, framework, innovation, business growth.
2021 215 Analyzing entrepreneurship within the digitalization and Industry 4.0 context Isabelle BICLEȘANU Bucharest University of Economic Studies, Bucharest, Romania
Abstract: companiesDigitalization are adjusting andtheir Industry business 4.0 models, are influencing while the thenew way entrants in which are companiescapitalizing achieveon the digital and sustainenvironment, a competitive or building advantage. the technologies Well established behind it. The research is based on qualitative and quantitative approaches, and aimed at characterizing entrepreneurship within the digitalization and Industry 4.0 context.
Keywords: Digitalization, Industry 4.0, technology, entrepreneurship, management.
216 2021 Talent management and Leadership: post-crisis scenarios Adela JANSEN Bucharest University of Economic Studies, Bucharest, Romania
Abstract: All companies are striving for sustainable growth and performance, a complex task in a VUCA (volatile, uncertain, ambiguous, complex) environment, evolutive legislation changing the leaders’ roles and responsibilities, while being closely watched by investors. Beside the ongoing effects of Industrial Revolution 4.0., the 2020 multidimensional crisis challenged the actual worldwide status quo in many respects, accelerating the rhythm of change for business models and questioning the leadership competencies, motivation and practices, due to new ways of working, interaction and collaboration, of different ways the teams by personal anchors (values and beliefs), by own preparation for professional areroad now (education led and areand expected learning), to bybe led.life Thechoices career and success the career is influenced capital acumen in time based on motivation, skill set and knowledge, social capital. This paper aims to study the self-perception of C-level and Board members, male and female, for their way up to the leadership ladder until now, as a desired result of a good talent management, and analyze the actual perceived changes post pandemic personal decisions and motivations. Therefore, a series on thorough interviews forwill their be conducted career anchors with decisionand career makers, capital, who as impactful are direct events contributors are influencing to both corporate performance and talent management strategies validation. The sensitive personal information will be compared versus existing academic theories, aiming to contribute to a better understanding of the leadership evolution in dramatic changes and the potential gender differences, if any, in the Romanian context. The research is part of the ongoing academic literature panorama post 2020, also contributing to the understating of the connection between leadership and corporate governance, knowing that the latest it is highly impacting the top management level of companies.
Keywords: Career, Career Capital, Career anchors, Social Capital, Authentic Leadership, Talent, Talent management, Global Talent Management, Corporate Governance, Board, Gender Diversity.
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