rss_2.0Acta Marisiensis. Seria Oeconomica FeedSciendo RSS Feed for Acta Marisiensis. Seria Oeconomica Marisiensis. Seria Oeconomica Feed' Reaction to Financial Reporting – Empirical Studies on Price Volatility on the Bucharest Stock Exchange<abstract> <title style='display:none'>Abstract</title> <p>In this study, the impact of financial reporting upon investment decision is assessed through investors' behavior and measured by the stock price variation. This research analyzes preliminary, semestrial, and quarterly financial reports from 24 BSE listed companies, namely companies within the BET XT index (14) and companies within the BET AeRO index (10), over the reporting periods between 2018 and 2022. The main finding shows that investors, instead of being influenced by the market general trend, reacted rationally in 47% of the cases as they assigned the highest importance to the fundamentals from the preliminary reports. Based on the results obtained from the two indicators introduced in the research, we concluded that between financial reporting and market sentiment, the factor with the highest level of influence on price variation was financial reporting.</p> </abstract>ARTICLEtrue Impact of Digitalization in Academic Marketing – A Comparative Study<abstract> <title style='display:none'>Abstract</title> <p>Using as a starting point the continuous transformation that the academic environment bears under the impact of the digitization phenomenon, our paper aims at a scientific investigation on the online presence of the educational offer of two universities. Current methods issued from theoretical and professional models have allowed us to highlight a series of criteria that reflect the quality and performance of online digital promotion of admission services in the case of two representative universities in Romania. Thus, we can say that, by building an operational dashboard, educational digital marketing can benefit from decision support tools, useful both in branding policy and in operationalizing online presence and communication.</p> </abstract>ARTICLEtrue of the Financial Performance of Energy Companies in the Current Context in Romania<abstract> <title style='display:none'>Abstract</title> <p>After a period of pandemic (COVID-19), the liberalisation of electricity markets (on 1 January 2021), the start of the war in Ukraine, the imbalances between energy supply and demand at European level, energy policies at EU (towards green energy) and national level, prices are rising massively and consumption is falling for both individuals and companies, with a direct impact on the financial performance of companies in this sector. The assessment of the financial performance of companies in the energy sector was based on a set of indicators calculated from both financial statement and market data. The analysis was carried out during 2019-30 September 2023 and targeted two producers S.N.G.N. Romgaz S.A., S.N. Nuclearelectrica SA, a carrier C.N.T.E.E. Transelectica SA and a distributor Societatea Energetică Electrică S.A.</p> </abstract>ARTICLEtrue Effects of Crises on the Living Standards in Romania and Hungary in the 21 Century – Similarities and Differences<abstract> <title style='display:none'>Abstract</title> <p>Our research focuses on the analysis of the effects of the crises of the last 20 years on the development of the standard of living in Romania and Hungary. In the research, we focus primarily on the economic crisis of 2008 and the economic and social shock caused by the COVID-19 pandemic. The study includes an overview of the economic and social situation of Romania and Hungary, the presentation of the concept of crisis, and the indicators that describe the standard of living (GDP per capita, the Gini coefficient, indicators of poverty and social exclusion and indicators that describe the development of the labor market). In our analysis, we examine and compare the evolution of indicators measuring the standard of living in Romania and Hungary during the crises.</p> </abstract>ARTICLEtrue Impact of Migration of FDI Companies from Russia in the Context of the Russian-Ukrainian Military Conflict<abstract> <title style='display:none'>Abstract</title> <p>In the context of the Russian invasion, many FDI companies decided to leave the Russian market. This phenomenon of massive migration of FDI has had a substantial impact on the macroeconomy of the Russian Federation. In this paper we aimed to analyse the effects of FDI company migration on the main macroeconomic indicators. The main macroeconomic indicators were analyzed for a period of 30 years, and based on these developments and the outflow of FDI companies a forecast of the indicators was made.</p> </abstract>ARTICLEtrue Screening of Tools to Measure the Quality of Financial Reporting<abstract> <title style='display:none'>Abstract</title> <p>The main objective of this research is to identify and systematize tools for measuring the quality of financial reports, in order to support researchers considering this comprehensive area. By using the PRISMA system in as transparent a manner as possible, we also aimed to find potential gaps in all 89 articles and scholarly papers examined in the smallest detail. As the quality of financial reporting is ultimately aimed at mediating the relationship between the entity and the user, it is not a topic addressed individually, the secondary object of this paper is to expose the most common themes and discussions associated with this object of study, such as: characteristics of entities, adoption of International Financial Reporting Standards, shareholding structure, corporate governance and audit committee.</p> </abstract>ARTICLEtrue Dilemma of Annual Reporting for Turkish Companies for 2022<abstract> <title style='display:none'>Abstract</title> <p>Turkey has had another year of high inflation and high devaluation in its economic history. Inflation has been a continuing phenomenon in Turkey for many years. The paper analyzes the consequences of high inflation and devaluation rates on financial statements. Inflation and devaluation create difficulties both for local and foreign subsidiary companies` financial reporting. A model company`s transactions have been used to show the effects of inflation, devaluation on the financial statements. Application of different IAS based reporting methods will create discrepancies among the companies of foreign subsidiaries. Another discrepancy is due to which inflation rate to be applied for IAS 29 purposes. There are two inflation rates being discussed by the public. One is declared by the government statistical agency called “TurkStat” and the other one declared by the non-governmental academicians` organization called “ENAG”. ENAG`s inflation rate-being more than twice of the TurkStat`s makes the case even more interesting. Since government is not going to allow the inflation accounting rules for financial reporting for local/tax purposes for 2022 fiscal year, companies with revenues exceeding expenses and assets exceeding their liabilities will be declaring profits and paying taxes whilst in fact, high inflation and devaluation are sweeping away those profits.</p> </abstract>ARTICLEtrue Impact of Air Quality on the Tourism Industry: Measuring Stakeholder Subjectivity in Mures Country Using the Q Methodology<abstract> <title style='display:none'>Abstract</title> <p>This study examines the perceptions of stakeholders regarding air quality and how it influences the tourism industry, exploring the relationship between air quality and travel decisions, the impact of air pollution on tourism demand, sustainable rural tourism development, and the level of air quality awareness in tourists' home countries. Utilizing the Q Methodology, based on Stephenson's theoretical concept of operative subjectivity, subjective perceptions and opinions of stakeholders in Mureș County regarding the impact of air quality on the tourism industry were measured. Data were collected through the Q-sort tool from a heterogeneous sample of 20 participants (P-sample) socio-demographically. The research highlights significant concern about air pollution and its impact on tourism and the environment, particularly in Târgu Mureș. The results reveal strong disapproval among the stakeholders, suggesting a common, homogeneous understanding of the importance of environmental protection and the need for a sustainable approach in the tourism industry and beyond. Three relevant factors were identified, including unfavorable perceptions regarding (1) the impact of pollution, (2) consensus on the importance of environmental conservation in sustainable tourism, and (3) diversity of perceptions regarding the impact of pollution on tourism demand and tourist satisfaction. The findings underscore the necessity of a balanced and genuine approach to promote sustainable and responsible tourism, considering similarities and differences in perceptions regarding the impact of pollution on tourism demand.</p> </abstract>ARTICLEtrue Regarding Sound Corporate Goverance Practices in Investors Relation – Case of SMT Aero Issuers Listed on Bucharest Stock Exchange<abstract> <title style='display:none'>Abstract</title> <p>The case study highlights the importance of post-listing conduct in line with investor expectations through statistical research on the market impact of high compliance. In this way, it explores whether a proactive approach and the quality of organisational culture can be strategic pillars for companies listed on AeRO market administered by Bucharest Stock Exchange in relation to the capital market. The main finding based on the regression methodology shows that there is a positive and statistically significant relationship between the corporate governance quality score and investor relations, i.e. the liquidity score. The regression coefficient obtained supports the hypothesis that 46% of the investment behaviour manifested in the market, expressed by the value traded, can be explained by the quality of corporate governance and investor interaction supported by issuers.</p> </abstract>ARTICLEtrue of the Impact of the COVID-19 Pandemic on the Financial Performance of Companies in the Pharmaceutical Field in Romania<abstract> <title style='display:none'>Abstract</title> <p>The financial performance of a commercial company is dependent on a multitude of factors, which can be grouped into external factors and internal factors. Through the conducted study, we tried to analyze the influence of external factors specific to the period of the COVID-19 pandemic, on the financial performance of some commercial companies in the field of manufacturing pharmaceutical products in Romania (Antibiotice) pharmaceutical preparations (Biofarm, Zentiva) ambulatory healthcare activity (Med Life). These commercial companies faced the conditions of the COVID-19 pandemic period, the measures taken in this regard, as well as the fierce competition from some international manufacturers (Sanofi, Sandoz Romania, Hoffmann la Roche, Pfizer, etc.). Thus, some commercial companies in the field of manufacturing pharmaceutical products have reduced their volume of activity and others have performed much higher than the pre-pandemic period.</p> </abstract>ARTICLEtrue Performance Analysis at SC UNOTIP SRL<abstract> <title style='display:none'>Abstract</title> <p>In a world where economic challenges and changes are permanent, economic entities, and especially the management of these entities, need correct and useful information to be able to make effective economic decisions regarding the present and future activity of the entities. Financial performance analysis is an indispensable and permanent managerial task, without which plans regarding future investments or strategies cannot be drawn up. The aim of the paper is to analyze the financial performance of the company SC UNOTIP SRL, based on the data from the financial statements for 5 consecutive years, with the help of the indicators that can best characterize the financial performance. Following this analysis, the authors formulate conclusions and recommendations regarding the improvement of the analyzed company’s performance.</p> </abstract>ARTICLEtrue Reporting on Social Media. Empirical Study on the European Medical Sector.<abstract> <title style='display:none'>Abstract</title> <p>Corporate advertising is essential for the functioning of an efficient capital market. Over the past decade, social networks have begun to become an integral part of the contemporary lifestyle of entities, being used as a means of communication with stakeholders. The quantitative research carried out on the sample of 119 companies in the medical sector, listed on the European stock exchanges, closely follows the correlations between the use of social networks and the financial information disseminated to the public. Techniques of exploratory data analysis were used to identify the determinants of financial communication through social means, followed by the calculation of the index of the use of these means of communication and its correlation with the financial performance rates of the studied companies. We believe that the ubiquitous adoption of technologies plays an essential role in the communication between management and users, bringing an indirect contribution to the proper functioning of an entity.</p> </abstract>ARTICLEtrue Model Oriented Towards Solutions to Improve the Communication Efficiency of Deaf-Mute People<abstract> <title style='display:none'>Abstract</title> <p>A series of supplementary services to solve communication problems between deaf-mute people and society could decrease the additional risk caused by communication impairments and break the boundaries between deaf-mute people and doctors/society. This scientific article will serve as the basis of a future application to ease the social and medical burden of hearing-impaired patients. The economic effect that the integration of deaf-mute people can have involves both decreasing the costs allocated to social and health services for this category of people, and increasing the contribution of each deaf-mute person by increasing his productivity as an employee at a company/institution.</p> </abstract>ARTICLEtrue, Burnout And Coping Mechanisms Present In The Machine Manufacturing Industry<abstract> <title style='display:none'>Abstract</title> <p>Following the global changes during the pandemic period, employers and employees had to comply with the requirements and rules imposed, and those who did not adapt were eliminated or suffered numerous damages. The study highlights the importance of psychological constructs involved in the industry, such as stress, burnout, adaptability and professional coping mechanisms. The article includes objectives, purpose, hypotheses, conceptual bases, methodology, tools for measuring them and addresses part of the specialized literature about the concepts mentioned at the workplace and their measurement. The aim being to highlight the relationships between stress - adaptability and professional burnout, stress - low performance at work.</p> </abstract>ARTICLEtrue Research on Investor Behavior in Pre-Listing and Post-Listing Periods - A Comparative Analysis Between the Regulated Market and the MTF Aero Administered by the Bucharest Stock Exchange<abstract> <title style='display:none'>Abstract</title> <p>Investor behavior around an initial public offering or private placement can make the difference between a successful investment or a potential loss. Through the present research, the correlation of investors’ behavior with the possible discount of the share granted in the case of initial offers was sought. The large number of companies listed on the Bucharest Stock Exchange in 2021(23) compared to 2020(3) denotes the fact that the SARS-COV2 virus was a certain catalyst of interest for investors and companies to enter the Romanian capital market. From another point of view, we observe a strong orientation of companies towards MTF AeRO. Out of the total of 26 analyzed companies, only 3 of them chose the regulated market for trading</p> </abstract>ARTICLEtrue of Negative Interest Rate Policies and Their Impact on Global Financial Markets – A Review of Relevant Literature<abstract> <title style='display:none'>Abstract</title> <p>In recent years more countries are moving their policy rates below zero thus posing questions needing to be researched regarding how global financial markets react to such changes. Our paper reviews what these changes mean for global financial markets, discussing that financial markets react the same way as they would if rates were lowered, asset prices increase.</p> </abstract>ARTICLEtrue of Artificial Intelligence in Integrated Information Systems<abstract> <title style='display:none'>Abstract</title> <p>The importance of the chosen theme is given by the lack of implementation of these technologies on the Romanian market, respectively to companies in the SME category, because this niche at the moment is one in full development and expansion. In the first part, entitled ‘Artificial intelligence – definitions, classifications’, the theoretical aspects of artificial intelligence systems in general, the direction of development in general, are presented, the types and categories of artificial intelligence and not least the facilities and effects of the use of artificial intelligence in general and in the fields of medicine, energy, production, education, finance and the transport industry respectively. In the second part entitled “Current trends in the development of integrated ERP systems” it analyzes the procedures for the integration of artificial intelligence elements as well as market analysis through the analysis of ERP solutions equipped with existing AI, the modules of the IT solutions that have been improved with artificial intelligence and other key elements with an impact on the implementations.</p> </abstract>ARTICLEtrue of Key Performance Indicators Impact in a Company of Change Requests brought to Speed Sensors in the Automotive Industry in Order to Optimize the Manufacturing Process<abstract> <title style='display:none'>Abstract</title> <p>Key performance indicators (KPIs/KPRs) made in a company with a field of activity in automotive allow for the gathering of knowledge and explore the best way to achieve the organisation’s objectives. Many researchers have offered different ideas for determining KPIs either manually, semiautomatically or automatically applied on different fields. This paper focuses on providing a study of an approach to explore key performance indicators (KPI/KPR). This work presents explanations about the process organization, the selection path of KPI/KPR and a practical example of measuring KPI/KPR in production department with the meaning of providing an interesting image of how people work and analyze complex situations and design or react to their strategies.</p> </abstract>ARTICLEtrue Assessment for Corporate Governance Compliance: the Case of BSE-MTF Listed Entities<abstract> <title style='display:none'>Abstract</title> <p>Over the past two years a significant number of issuers have emerged on the AeRO Multilateral Trading Facility (MTF) organized and managed by the Bucharest Stock Exchange (BSE). Preliminary assessments concluded that investors’ interest for the recent AeRO public offerings of equity and debt seemed to be even greater than in case of the regulated market, possibly explained by a higher return on investments. On the other hand, a preference for the AeRO market instead of the regulated market has been also noticed among the inssuers trying to avoid compliance costs related to financial reporting and corporate governance. These assumptions are relevant to sustain a research direction related to a quality assessment of compliance with relevant corporate governance principles that AeRO issuers must also embrace and implement. The research methodology includes governance compliance inspections, issuers’ website screenings and annual report reviews. The sample of issuers is formed by the 20 issuers included in the BETAeRO Index launched on 11th of October, 2021. We expect that our findings will provide a relevant basis of conclusions to support a broaden utility of the Vektor transparency index, which should be extended for AeRO issuers as well.</p> </abstract>ARTICLEtrue benchmarks in sustainability reporting. Incursion from the Brundtland Report to the Sustainable Development Goals<abstract> <title style='display:none'>Abstract</title> <p>Sustainable development has become, at a rapid pace, outright desirable, an essential condition for all companies, and the business strategy must be based on transparency and accountability, and the information published must be the architecture of sustainable reporting. This is because the public reports of the companies generate the essential platform that reflects the performance, the social and environmental impact, as well as a subsidiary marketing function through which new customers and investors are attracted, as well as talented employees. The main objective of this research is to identify the main landmarks of the evolution of sustainability reporting in the dimension of non-financial reporting standards applied by Romanian companies. The migration trend from conventional to sustainable accounting is evident, with the latter including a variety of social and environmental issues such as: biodiversity protection, climate change, energy efficiency, greenhouse gas emissions, waste management, social inclusion disadvantaged people, respect for human rights, the fight against corruption and transparency of information.</p> </abstract>ARTICLEtrue