Ecoforum Journal (University of Suceava, Romania)
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THE EVOLUTION OF TOURISM IN SOUTH EASTERN EUROPE - COMPARATIVE ANALYSIS BETWEEN ROMANIAN AND BULGARIAN TOURISM DURING 2008-2020
No full textTourism, like other areas of the economy, is extremely sensitive to market trends. Being under the influence of various factors, the tourist phenomenon is influenced by them in a positive or negative sense. This paper analyzes the influence of the most recent crises - economic-financial, health or otherwise, on tourism activity in Romania and Bulgaria. This study is an analysis of the evolution of the tourism in Romania and Bulgaria in 2008-2020 under the impact of the economic and financial crisis of 2008-2010 and, respectively, the health crisis from which it started in 2020. More specifically, three relevant tourism indicators were analyzed, namely: tourist arrivals in accommodation units, the number of overnight stays registered in tourist accommodation units and the occupancy rate of bed-places and bedrooms in hotels and similar accommodation structures. The obtained results highlight the differences between the evolutionary trends of the tourism industry, in the selected period, within the two states. It also highlights the sensitivity of tourism as a phenomenon to destabilizing factors, and the impact of the destabilizing factors on tourism industry
ASSESSMENT OF FINANCIAL EQUILIBRIUM OF CONSTRUCTION ENTERPRISES IN THE REPUBLIC OF MOLDOVA BASED ON THE RATIO OF FINANCIAL AND NON-FINANCIAL ASSETS
No full textThe issues of ensuring an acceptable level of financial sustainability of the enterprise are closely related to the key indicators of their performance. This article uses the method of assessing the financial stability of the enterprise on the basis of the ratio of financial and non-financial assets. The choice of the most appropriate method of analysis of financial stability allows to form the strategy of development of enterprises, in accordance with which management decisions are made and the reserves for improvement of financial condition are determined. The initial information for performing the analysis was the official data of the National Bureau of Statistics of the Republic of Moldova for 5 years (period 2017-2021) for the enterprises of the construction industry. The results of the performed research have shown that the financial stability of construction enterprises calculated on the basis of the ratio of non-financial and financial assets is characterized by acceptable financial tension in the presence of potential solvency of the analysed enterprises.
The right to a healthy environment and sustainability
No full textClimate change, especially global warming, which is at an alarming rate, makes us think about the future of the next generations and whether this future actually exists or not. The right we have to enjoy a healthy environment must be the legacy we leave behind and we have to learn to exercise it responsibly and prudently. In this context, we aimed through our research, using the method of free scientific research, to demonstrate the importance of applying the concept of sustainability in the context of exercising the right to a healthy environment. We also considered the use of the comparative method to be vital, thus observing the position other European states have on this subject, a good example being given by France, which sanctions the "ecocide". However, the process of integrating the concept of sustainability into the collective consciousness remains a goal that must be achieved in the coming years in order to ensure that future generations will have the chance to enjoy the same environment as we do
DIAGNOSTICS OF THE AUDIT ACTIVITY IN THE REPUBLIC OF MOLDOVA
No full textThe audit activity is the independent examination of the annual financial statements, including the consolidated ones of the audited entity to express a professional opinion of the auditor on whether the financial statements are prepared in all material respects in accordance with the applicable general financial reporting framework. The purpose of the audit consists in verifying the financial statements having an internal utility (for the management of the audited entity) and another external one, for informing third parties (shareholders, investors, government institutions, customers, suppliers, creditors, etc.), exercised in order to ensure the credibility of this information. The development and modernization of the economy presupposes the alignment of the audit with the exigencies and standards in the matter existing both in the European space and internationallyThe purpose of this research is to present the most relevant aspects with reference to the audit activity in the Republic of Moldova, but also to reveal the current context related to the theme, in order to formulate the conclusions related to the subject of the research. In order to examine the evolution of audit activity in the Republic of Moldova, we conducted a research on the entities in this field, researching five consecutive periods. For the evaluation of the scientific performance in the field of audit activity, the bibliographic and bibliometric databases in online format Web of Science and Scopus were analyzed
CONTRIBUTION OF NON-FINANCIAL INFORMATION TO ENSURING THE SUSTAINABILITY OF THE ACTIVITY OF ECONOMIC ENTITIES
No full textIn the modern economy, stakeholders have become increasingly concerned with the significant informational support provided by sustainability reports. Non-financial information helps investors and other interested users in making the right decisions and alerts them to the possibility of major risks within the firm. Thus, the preparation of a correct non-financial report and in accordance with the standards and regulatory frameworks in force increases the transparency of the company\u27s activity and even helps to evaluate the overall performance of the enterprise. In this context, the purpose of this article is to highlight the contribution of non-financial information in ensuring the sustainability of the activity of economic entities. In order to achieve the proposed goal, the concepts regarding non-financial information, sustainability, corporate social responsibility, GRI standards were defined, and a statistical analysis was presented regarding the evolution of the sustainability reporting rate in the period 2011- 2022 worldwide and European
ARE THE LOCAL COMMUNITIES READY IN MANAGING HOMESTAYS? A CASE STUDY IN PULISAN VILLAGE, LIKUPANG, NORTH MINAHASA REGENCY, INDONESIA
No full textSince 2019, Indonesian government has launched the development of a Special Economic Tourism Zone which consists of 8 areas with their own uniqueness and priority scale. One of them is Likupang, where this area is included in the super priority scale. The fundamental change is infrastructure assistance in the form of houses to be used as homestay. In addition, the government encourages educational institutions and the hospitality industry to provide homestay management training to local communities. However, with the assistance of homestay facilities and the training provided, have you guaranteed that the local community is ready to manage the homestay business? The purpose of this study was to examine the readiness of the community in managing homestays. The research method is descriptive with data collection techniques through surveys to the recipients of homestay facilities and training as many as 73 families. The results of the study that the community\u27s readiness to manage can be seen from three indicators, namely knowledge, skills and attitudes, showing that the community is not fully confident in managing homestays, they still need to get assistance even though there are so many trainings and workshops provided by various tourism education institutions and the hospitality industry
DEVELOPING A CROSS-BORDER CULTURAL ROUTE. A QUALITY ASSESSMENT PROPOSAL
No full textThe purpose of this paper is to provide some important insights about the development of cultural routes in Romania, and, as well, to propose a framework for the evaluation of the quality delivered, taking into consideration ”on the spot” infrastructure and services that should be available, in order to mediate a positive experiences to the tourists. The items compiled in a pilot-assessment questionnaire were tested on the field, for a cross-border cultural route, that was developed some years ago, in cooperation, by the tourism national authorities from Romania and Republic of Moldova: “Stephen the Great” cultural route. The paper presents some relevant insights about the cultural routes and their importance for the promotion of the heritage of different European cultures. The literature review covers mainly the impact of the cultural routes for the promotion of the heritage of the regions that are crossed by, and the growing importance that the routes gained in the last years. The undertaken research brings a critical approach to the development of routes in the incipient stage, especially, and reiterate the challenge to create a coherent and positive tourism experience, by combining different tourism objectives in a thematic trail. The aim was to identify some relevant factors that could be compiled in a quality assessment tool, that could be used for the evaluation of the cultural routes. Similarities with the Index of Destination Attractiveness (IDA) are as well discussed. The paper concludes with recommendations for the tourism stakeholders involved in the process of development the cultural routes. At the same time, the paper opens the field for future research on the quality of the tourism experience on the cultural routes
PERFORMANCE ANALYSIS OF PHARMACEUTICAL COMPANIES DURING THE PANDEMIC CRISIS
No full textAnalysing the financial performance of companies involves examining various aspects of a company’s financial activity, including profitability, liquidity, solvency, rate of return, cash flow and debt ratio. Beside the detailed information on the financial situation of a company, the financial performance analysis can help assess a company’s potential, including its ability to meet its financial goals. The present paper performs examining of annual financial reports of three companies from pharmaceutical sector from Romania and analysing key financial indicators during three years: ante-pandemic, pandemic, post-pandemic. The crisis generated by the COVID-19 pandemic has directly influenced all economic sectors worldwide, in most cases in a negative sense. At the opposite pole, the pharmaceutical industry had the opportunity to expand and improve its performance, as a result of the constant market need for medicines and medical devices. The financial performance analysis of the three most important pharmaceutical companies from Romania provides detailed information on financial situation of these companies. The paper underlines the importance of the analysis for making investment, management and strategic decisions, but also to identify trends and risks and assess the companies’ ability to meet their goals, presiding at the same time measures for long-term business expansion in a post-pandemic environment
THE ROLE OF INSTITUTIONAL FACTORS ON CAPITAL FLOWS TO MIDDLE-INCOME SUB-SAHARAN AFRICA
No full textThis paper studies the institutional factors, that tend to matter for capital inflows, for middle-income Sub-Saharan African (SSA) countries. Previous studies have focused more on macroeconomic push and pull factors and less on institutional factors. The paper aims to contribute to a better understanding of the dynamics between institutional quality and capital flows to middle-income SSA countries; with capital flows disaggregated into foreign direct investment (FDI), portfolio equity, and portfolio debt. The study found that countries that attract high capital inflows tend to have better institutional quality, although better institutional quality has not always translated to higher capital inflows. During the 1990s, the pick-up in capital inflows occurred with improvements in conflict, democratic accountability, government stability, investment profile, and law and order. However, corruption and bureaucratic quality deteriorated, indicating that these factors were likely not behind the increase in capital inflows. There are differences in dynamics depending on the type of capital flow, with portfolio debt better tracking law and order compared to the other capital flows. To our knowledge, this may be the first study of its kind to explore the institutional factors for capital flows at a disaggregated level
EFFECT OF COVID-19 ON THE MAIN MACROECONOMIC INDICATORS (GEORGIAN CASE)
No full textFrom the first day of the COVID-19 pandemic, it was clear that negative impact of it would hit both, demand and supply side of the economies in different countries all over the world. First and most severe obstacle for the economies was supply side shock caused by restrictions imposed by the governments on some economic activities. On the other hand demand side shock was also solid, economic agents were massively postponing their decisions regarding consumption and investment. This paper aims to conduct descriptive statistical analysis of the Effects of COVID-19 on the main macroeconomic parameters of Georgia. Moreover, research aims to identify and classify country level various support schemes and policy measures taken by the government during the COVID-19 pandemic. In the paper it is discussed that pandemic severely affected almost all the main macroeconomic indicators of Georgian economy. On the other hand, supply shock, some demand side policy measures, rise of import prices and post pandemic hike in demand originated inflationary process and high prices became a post pandemic problem of Georgia