rss_2.0Acta Marisiensis. Seria Oeconomica FeedSciendo RSS Feed for Acta Marisiensis. Seria Oeconomica Marisiensis. Seria Oeconomica Feed 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, 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 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 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 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 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 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 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 marketing and online consumer behavior in Romania during the COVID-19 pandemic: a case study<abstract> <title style='display:none'>Abstract</title> <p>Digital marketing is a constantly changing field in which <italic>new</italic> trends, new values and new <italic>promotional tools appear</italic> periodically <italic>in the</italic> online environment. Trends are given both by technological progress and by the profile and behavior of the consumer. Following the application of a structured questionnaire, this paper aims to analyze the online consumer behavior in Romania during the pandemic period. The results of our study can be used by entities from various sectors of activity that want to promote products / services in the online environment.</p> </abstract>ARTICLEtrue Efficiency in Developing Countries of the European Union<abstract> <title style='display:none'>Abstract</title> <p>Value added tax (VAT) is an important source of income for European Union countries. The developing countries of the European Union are encouraged to step up their efforts to comply with European legislation for the purpose of sustainable economic development. Knowing that these states are susceptible to corruption, this paper investigates the relationship between the efficiency of VAT collection, the VAT gap and the level of the corruption index in the developing countries of the European Union.</p> </abstract>ARTICLEtrue New European Philosophy on Recovery and Resilience. The Recovery and Resilience Facility and the Impact over Member States.<abstract> <title style='display:none'>Abstract</title> <p>The EU offers different funds to member states for investments and development in infrastructure, governance, economy, and society. They are targeted towards the EU priorities and national necessities, offering the chance for member states and partner states to adapt to the new challenges. The COVID 19 pandemic tested states, societies and economies, and pinpointed towards needs which previously occupied a less important role in EU funding. Moreover, European states needed tailor made solutions for the post-crisis context, which will help them recover fast from the domino effect of the pandemic. All these were gathered in the Recovery and Resilience Facility, which, based on national plans, offer funds for a rapid recovery and investments in key sectors. The mechanism revealed an entire philosophy in approaching resilience and recovery, as, even if states followed the same rules in developing the plan, they oriented funds for different investments, reforms or activities.</p> <p>The present article overviews the manner in which states channeled their resilience and recovery plans, as they offer different philosophies in approaching recovery and resilience.</p> </abstract>ARTICLEtrue Inquiry into the Accountability of the State-Owned Financial Institution versus Privately Owned Financial Institution<abstract> <title style='display:none'>Abstract</title> <p>The purpose of this research is to analyze whether State-Owned Financial institutions are giving more attention, in their integrated report, to stakeholders, that among the most important find the civil society, than Privately-Owned Financial institutions. An in-depth content analysis of the analyzed financial institutions’ Integrated Reports has been carried out, through the employment of MAXQDA, whit the extent to answer research questions proposed. Evidences outlined a higher stakeholder engagement by State-Owned Enterprises. Further research are required for a better understanding of Stakeholder engagement of SOEs.</p> </abstract>ARTICLEtrue flags in financial reporting - empirical studies in the AeRO market<abstract> <title style='display:none'>Abstract</title> <p>Understanding the factors that cause fraud and properly defining key areas of conduct is one of the most effective ways to detect potential irregularities, where the auditor’s professional judgment and skepticism are essential. In this respect, it is necessary to study some key financial indicators, but also to use various procedures to identify and detect fraud and possible manipulation in the financial reporting process. The objectives are aimed at identifying and highlighting possible red flags in companies whose shares are traded on the Bucharest Stock Exchange. The sample considered sensitive to fraudulent financial reporting is composed of four distinct categories of companies, namely: companies recently admitted to trading on the AeRO market administered by the Bucharest Stock Exchange (21), companies that obtained a zero Vektor score in 2020 (9), companies that obtained a low score in the White Letter publication (5), and companies in insolvency (4).</p> </abstract>ARTICLEtrue of IT Service Management Solutions in the University Environment Beyond the COVID-19 Pandemic: a SWOT Analysis<abstract> <title style='display:none'>Abstract</title> <p><italic>The COVID-19 pandemic has</italic> imposed the acceleration of the digital transformation processes of <italic>organizations, regardless of the sector of activity. Moreover, currently,</italic> achieving <italic>sustainability indicators</italic> is particularly <italic>important,</italic> digitalization being an <italic>important step</italic> to minimize the social and environmental impact of <italic>organizations’ activities. Our paper aims to identify the internal and external factors that influence the adoption of an</italic> IT Service Management solution during the pandemic in a <italic>public</italic> university <italic>in</italic> Romania that is in the process of transition to become a <italic>sustainable university.</italic></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 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 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 Reality technology - a sustainable element for Industry 4.0<abstract><title style='display:none'>Abstract</title><p>Augmented Reality (AR) is a current, sustainable, efficient, and promising tool that will make an essential contribution to the development of the Industry 4.0 revolution. AR technology fully and effectively responds to the current extended digital age, in the last year and in the field of education, of learning at all levels. The applicability of AR technology is varied and complex: retail interior design, health, industry, logistics, etc. This paper show the applicability of AR technology in the learning process, from the perspective of the Industry 4.0 concept, highlighting the sustainable and efficient aspects on the economic performance and not only of the companies. The main conclusion of this research is that the use of modern digital technology (AR and VR) in learning in various fields, including education, must be based on the principles of ROI (Return on Investments) and SROI (Social Return on Investments).</p></abstract>ARTICLEtrue early signs of fraudulent financial reporting – case of WIRECARD<abstract><title style='display:none'>Abstract</title><p>The experience of fraudulent financial reporting scandals that shocked American corporate history in the early 2000’s marked a turning point in the evolution of the financial auditing profession, out of a desire to restore investors’ confidence in the integrity of listed companies’ financial information. The establishment of a public supervision authority for audit firms (PCAOB), the establishment of an audit committee for listed companies or the obligation to report on the effectiveness of internal control over financial reporting, among with severe financial sanctions for corporate fraud, are the most representative legislative measures imposed in the US by the Sarbanex-Oxley Act (2002) to achieve this goal. To a large extent, these measures have also been adopted in Community law, most likely under the impetus of similar events, such as the Parmalat case (2003). Here that, at a not appreciable time distance, such a sensitive issue of fraudulent reporting returns to the center of investors’ attention through the case of the German electronic payment processor - Wirecard (2020). The article aims to investigate possible early signals that could have indicated risk factors or circumstances that could have favored fraudulent financial reporting in the case of this issuer. In essence, the research methodology is limited to the application of the Beneish model on the annual financial reports from 2016-2018, in order to assess its validation in relation to the values of the score function (M).</p></abstract>ARTICLEtrue