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How Crowdfunding Works in Romania?

Author(s): Mădălina Bălău / Language(s): English Publication Year: 0

Crowdfunding is increasingly becoming a good solution for entrepreneurial ventures to obtain funds, being facilitated by internet and social networks, and it is also spreading in Romania as well. The current paper aims to explore this alternative for financing in Romania in order to understand better its evolution until now, whether if it is viewed as suitable for business as well, and to compare the advices offered for entrepreneurs in Romania versus those on famous crowdfunding sites such as Kick starter and Indiegogo. In order to achieve this we explored websites offering crowdfunding in Romania and the information they offer entrepreneurs, we identified the types of most successful campaigns and we compared advices offered to those existing on international websites, renowned for their success. The marketing strategy and the planning of the campaign seem to be essential for its success and this paper highlights in its conclusion some lessons Romanian entrepreneurs could learn from international crowdfunding campaigns and the growing scientific literature available on this subject.

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Claw-back Tax - a Fang of Romanian Health or a Moral Duty?

Author(s): Viorica Puşcaciu,Florin Dan Puşcaciu,Rose-Marie Puscaciu / Language(s): English Publication Year: 0

This study belongs to the scientific field of economics, more precisely to finance area. The scientific challenges to which this approach tries to find answers are the so controversial claw-back tax. It is a fee that even if is applied to different fields of the economy, it succeeded to set up only the national health system from our country, and that is why, this approach try to clarify it. The obtained results of this work intends to bring more light in this dispute between the manufacturers of drugs and the state authority; in this matter, one part considers this claw-back tax as being a moral one, and the others think that it is something abusing their profits. The aim of this study is to clarify this matter, by objectively analyzing the problem from both sides, with their arguments, and with the scientific instruments. So, these are our objectives, treated with the qualitative scientific methods, trying to reach the results and getting the conclusions of this research.

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The European Projects in the Support of Albanian’s VET

Author(s): Ermira Kastriot Sela / Language(s): English Publication Year: 0

The main objectives of Albanian society are economic development and integration into the European Union. These aspirations need the acceleration of structural reforms that will allow to Albania to be adapted to modern societies. In this contest, the improvement on the role played by education,especially by VET system, is very important for the economic and social development of the country.Generally, VET is seen as a key factor in the economic growth because he equips people with the skills needed to be protagonists in the labor market. This system in Albania has undergone toward many changes in structure and content, with the aim of improving his approach to the requirements of the labor market. However, to provide a vocational education of high quality it’s important to invest more in it, but the Albanian investments in this sector are among the lowest. In these conditions, the partnership with EU offers a great opportunity for the country to develop the VET system. This paper tries to show how has Albania used the opportunities that derive from integration process. The method used is qualitative. Inconsideration are taken the reports, studies and statistics get into the sector of vocational education.

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Firm Model Design from the Perspective of Sustainable Circular Economy Paradigm

Author(s): Florin Razvan Balasescu / Language(s): English Publication Year: 0

As well known the sustainable circular economy is a regenerative oriented paradigm for transforming the waste into a valuable resource. In this framework, the business model appears in the form of an network architecture design that relates product, service and information flows, various business actors and their roles directed to potential benefits and value meanings, taking into account the technology-push, market pull and regulatory innovative drivers and the linear and non- linear approaches to emphasize the importance of the connections between intentions and consequences as well as the complexity of social relationships between firm, consumers, investors and public authorities.

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Corporate Social Responsibility Performance during Crisis. A EU Approach

Author(s): Adina Dornean,Bogdan Narcis Firtescu / Language(s): English Publication Year: 0

This paper aims at analyzing the impact of the financial crisis on Corporate Social Responsibility(CSR) performance, emphasizing the case of companies from European Union (EU) countries. An empirical analysis is conducted using the database available on Global Report Initiative (GRI). For accomplishing this,we will use Wilcox on signed rank sum test, in order to test the CSR performance evolution for period 2007 –2015. According to the GRI reporting guidelines we transform the application level of report standards in a point score system. The results indicated increased CSR performance before, during and after the financial crisis except for 2015, which confirm the results obtained by other researchers. The present study is important both for managers and policymakers: for managers to continue their CSR actions because is demonstrated the positive relationship between CSR and financial performance; and for authorities who have to adopt more incentives for supporting companies involved in CSR activities.

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Factors Influencing New Business Formation

Author(s): Andreea-Oana Iacobuţă-Mihăiță,Mariana Hatmanu Gagea / Language(s): English Publication Year: 0

The purpose of this study is to identify the factors that influence the creation of new businesses and to point out both the differences and the similarities existing between countries and groups of countries in terms of these influencing factors. We are mainly interested in the place Romania and Bulgaria have among the countries of the world from the perspective of entrepreneurial spirit and its influencing factors. To capture the level of business formation we use New business density from World Bank Doing business. Drawing on the existing literature we consider for our analysis several indicators related to economic environment such as GDP per capita, unemployment rate, inflation rate, the level of taxes, foreign direct investments and public debt and indicators describing the quality of governance. The research uses 2014 data for 67 countries, from all development categories, collected from Heritage Foundation database. The research results obtained with principal components analysis show that good governance results in higher levels of GDP per capita and income taxes and the increase of the level of business formation. Also, good governance leads to a decrease in inflation and unemployment. Furthermore, the hierarchical cluster analysis is used to identify groups of countries and to outline similarities and differences between them.

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Overview of the Main Theories on the Economic Effects of Public Indebtedness

Author(s): Irina Bilan / Language(s): English Publication Year: 0

The paper briefly reviews the main theories formulated over time on the economic effects of public in debtedness, with the aim to highlight their common and divergent points, the arguments they rely upon, as well as their relevance, given the current economic environment. Three major views are considered, namely the classical one, the Keynesian one and the view of neoliberal economists (monetarist economists and representatives of the school of rational expectations). The comparative approach of the different views allowed us to shape some criteria of decision which may prove useful for public policymakers in formulating public debt policies conducive to economic growth: public indebtedness should not become common practice but be reserved for those situations in which the economy is confronted with unusual phenomena, such as economic downturns; borrowed resources should be used especially on those destinations which create added value in the economy, such as public investment; public debt should not accumulate at a fast pace and should be kept within reasonable limits, to avoid possible side effects on economic growth.

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Overviewing the Expenditures Structure in Local Self-Government Entities

Author(s): Elena Rusu (Cigu),Mihai-Bogdan Petrisor / Language(s): English Publication Year: 0

The process of decentralization in EU countries is permanent in registration due the new entries in 2004 and 2007, which emphasizes on the one hand the major role of local governance for sustainable development, and on the other hand the challenges that local governments have in the management of local public funds. Thus, the structure of local public expenditures and their correlation with revenues, highlight the complexity of the duties of local government. The research paper will focus on the structure of local expenditures of the public sector, using the background offered by literature based on good practices and the analysis of official statics data for empirical evidences. We estimate the analysis to offer a viewpoint on the expenditures structure of local budgets with positive aspects, but also deficiencies that require some solutions and policy options. Thus, the paper can be a starting view point which allows researchers to develop the domain in a much more complex research.

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General considerations on the population ageing

Author(s): Alina Cristina Nuţă / Language(s): English Publication Year: 0

This article presents one of the most important issues of the current context, the ageing of the population, with major consequences on the financial stability of the nation. This restructure of the population(that change the shape of the population pyramid ), as a result, on the one hand, of the reducing in the fertility rate, on the other hand, increasing in life expectancy and last but not least, due to migration, unbalance national budgets, generating negative effects in economic, financial and social terms.

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Characteristics of the Entrepreneurial Environment in European Union Countries: a Comparative Analysis

Author(s): Valentina Diana Rusu,Angela Roman / Language(s): English Publication Year: 0

The major importance of entrepreneurship for economic growth, competitiveness, creating jobs and innovation is widely recognized. The objectives of our paper are to realize a comparative analyze of the characteristics of entrepreneurship in the EU countries, as well as to identify the perceptions about it. For our analysis we use the values for the key indicators obtained from data base and reports of Global Entrepreneurship Monitor. Also, in order to realize the comparison we use the classification of EU countries according to their development level. The results obtained show that there are important differences between the EU countries regarding entrepreneurial activity, but also among the countries in the same group. The countries with a higher economic development have a better entrepreneurial environment than those less developed. Regarding the perception about entrepreneurship, our results show that almost half of working age population from EU observe good opportunities in the region for starting a business, but almost as many of them affirm that a big constrain in starting a business would be their fear of failure. Overall, the results of our research allow identifying the measures that would be required to be taken by policy makers to stimulate entrepreneurship in European countries.

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Economic Thinking from Hesiod to Richard Cantillon

Author(s): Gina Ioan / Language(s): English Publication Year: 0

The paper makes an analysis between the two effects, considering the general case of an Allen utility function. We can say that about economics that it is a relatively young science, economic and social phenomena we find debated in philosophical thinking of Hesiod Xenophon, Plato, Aristotle. These phenomena were only economic management rules of common affairs of the city. Thus, the study of the economy began to emerge timidly, gaining not only the form that we know it today, but also the importance for a developed society, the very cornerstone of its.

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Analysis of the Evolution of Statistics in Romania

Author(s): Cătălin Angelo Ioan / Language(s): English Publication Year: 0

This article examines the evolution of statistical data (in this case GDP) from their temporarily character to the final one. It has highlighted a number of inconsistencies or opposite evolutions which implies that the use of statistical data not definitive may lead to erroneous conclusions.

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СЪВРЕМЕННИ ИЗСЛЕДВАНИЯ ОТНОСНО ВЛИЯНИЕТО НА ЧОВЕШКИЯ КАПИТАЛ ВЪРХУ РАСТЕЖА

Author(s): Mariya Neycheva / Language(s): Bulgarian Publication Year: 0

The paper represents an overview of the current state of the publications exploring the link between education and growth in the New EU Member States from Central and Eastern Europe by utilizing the systematic literature review approach. The latter is applied to two of the most popular abstract and citation databases of peerreviewed references in the Social Science field – SCOPUS and Web of Science – over the period 1996-2016.

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БАЗЕЛ III: ОПИТ ЗА ТРАНСФОРМАЦИЯ НА СВЕТОВНИЯ ГЕОПОЛИТИЧЕСКИ РЕД

Author(s): Georgi Marinov / Language(s): Bulgarian Publication Year: 0

The World situation in the past 100 yars and the geopolitical order in the beginning of the 21st century are subject of review.

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ТРАНСАТЛАНТИЧЕСКОТО ПАРТНЬОРСТВО ЗА ТЪРГОВИЯ И ИНВЕСТИЦИИ (ТПТИ): ВЪЗМОЖНОСТИ, ПРОБЛЕМИ И ПЕРСПЕКТИВИ

Author(s): Diana Sabotinova / Language(s): Bulgarian Publication Year: 0

The transatlantic trade and investment partnership (TTIP) which is an agreement between the EU and the United Sates would be unprecedented in terms of its sheer dimension. It would create a free trade area representing nearly 50 percent of global economic output, with 11.8 percent of the world population. It is the advantage to be derives from a reduction of tariff and, above all, non-tariff barriers to free trade that serve as a justification for the TTIP negotiations. The most controversial measure in TTIP beyond any doubt is the investor/state dispute settlement (ISDS) system. There is a growing fear that the search for harmonization and mutual recognition of rules and standards, which is a central feature of the negotiations, will translate into a downward spiral of worsening standards and lead to social dumping.

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МЕДУНАРОДНИ ТЕНДЕНЦИИ ВВ ВИСЕТО БИЗНЕС ОБРАЗОВАНИЕ И ОЧАКВАНИЯ НА РАБОТОДАТЕИТЕ

Author(s): Lina Anastassova / Language(s): Bulgarian Publication Year: 0

Тhe paper discusses the major trends in the higher business education in global context and it is based on statistical data from reports of many governmental bodies and international organizations like UNESCO, UNO, British Council, United States Institute for International Education, The UK Department for Higher Education etc. On the other hand the paper examines the employers’ opinion about the most important skills they value when they employ young graduates with business higher education with Bachelor’s or Master’s degree. This part of the paper is based on analysis of secondary data from a lot of international research on employers’ opinion but on empirical data and conclusions from a representative survey with Bulgarian employers of companies from various sectors as well. The last part of the paper contains conclusions and suggestions for future activities on institutional and national level for improvement of the higher education in Bulgaria.

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ВЪВЕЖДАНЕ НА СТАНДАРТИЗИРАНИ ДЕЙНОСТИ В ПРОЦЕСИТЕ НА ОБСЛУЖВАНЕ – ПОЛЗИ И ПРОБЛЕМИ

Author(s): Yulia Yorgova / Language(s): Bulgarian Publication Year: 0

In this paper it is analyzed the opportunities for implementing the principle of standard work in the various types of service processes performed in the service organizations and offices. As a result some general conclusions regarding the benefits and problems of the application of this concept have been formulated.

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КОНЦЕПТУАЛЕН МОДЕЛ НА УПРАВЛЕНИЕ НА КАРИЕРАТА В ОРГАНИЗАЦИЯТА

Author(s): Galina Kurteva / Language(s): Bulgarian Publication Year: 0

In contemporary organizations employee’s career development is not always associated with climbing a hierarchical ladder but also with realization of opportunities for enrichment of the employee’s position and increase of his satisfaction with the role which he plays in the organization. The transformation of the career trajectory, which is a strictly ascending straight line, imposes important requirements for the content of the career activities in the organization. In addition, it provokes a demand for flexible instrumentation for the fulfillment of those requirements. The report presents one possible model for career management based on partnership between the organization and the individual.

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ОБУЧЕНИЕТО ПО ТУРИЗЪМ В УНИВЕРСИТЕТ „ПРОФ. Д-Р АСЕН ЗЛАТАРОВ” И ВЪЗМОЖНОСТИТЕ ЗА ПРОФЕСИОНАЛНА РЕАЛИЗАЦИЯ НА СТУДЕНТИТЕ ОТ ЕДНОИМЕННОТО НАПРАВЛЕНИЕ

Author(s): Zlatina Karadjova / Language(s): Bulgarian Publication Year: 0

Educating and training have a key role to meet the needs of the the labor force possessing skills and knowledge in accordance with the current and future needs of the labor market. In this regard, the future will continue activities aimed at promoting lifelong learning, quality assurance of vocational education and training, development of career guidance services, improving links to education and training with business

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CHALLENGES AND CHANGES IN THE DEVELOPMENT OF INTERNATIONAL TOURISM DESTINATIONS WITH FOCUS ON REBUILDING STRUCTURES AFTER ECONOMICAL, POLITICAL AND NATURAL CRISIS

Author(s): Krassimira Staneva / Language(s): English Publication Year: 0

The crisis’s impact on international tourism destinations architectonics was described. Some new problems after crisis were evaluated- reduction of tourism activity, cancellations of services and lack of security for tourists. A Special „Restart, Relocate and Rebuild” concept was created. Some stimulus for ignoring the negative foot print of crises on touristic destinations can be regarded as solutions

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