Ecoforum Journal (University of Suceava, Romania)
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GENERAL CONSIDERATIONS REGARDING THE EMPLOYMENT RELATIONS OF THE PUBLIC ADMINISTRATION IN ROMANIA
No full textIn carrying out our approach, we will address aspects regarding the forms of legal labour relations within the Romanian public administration system. At the same time, we will analyse the legal employment relationship of the contract staff from the public authorities and institutions and the service report of the civil servant. Doctrinal opinions are controversial regarding the employment relationship of the civil servant. In this sense, we consider that it is necessary to approach some fundamental notions regarding the civil service because some authors are of the opinion that the civil service is the main factor that determines the legal nature of the employment relationship of the civil servant. Starting from the idea that the attributions that constitute the content of the civil service, cannot be established by a contract but only by a legal norm, we are of the opinion that the legal nature of the civil service\u27s service relationship belongs to the administrative law.In carrying out our approach, we will address aspects regarding the forms of legal labour relations within the Romanian public administration system. At the same time, we will analyse the legal employment relationship of the contract staff from the public authorities and institutions and the service report of the civil servant. Doctrinal opinions are controversial regarding the employment relationship of the civil servant. In this sense, we consider that it is necessary to approach some fundamental notions regarding the civil service because some authors are of the opinion that the civil service is the main factor that determines the legal nature of the employment relationship of the civil servant. Starting from the idea that the attributions that constitute the content of the civil service, cannot be established by a contract but only by a legal norm, we are of the opinion that the legal nature of the civil service\u27s service relationship belongs to the administrative law
THE INFLUENCE OF USING SAP CRM ON INCREASING CUSTOMER SATISFACTION INDEX AT PT. BANK X IN MEDAN, INDONESIA
No full textThis paper aims to examine various concepts related to the development of definitions and dimensions of customer relationship management, and to try to develop a comprehensive model of customer relationship management, especially at PT. Bank X. The problems that will be raised in this paper are how to develop concepts, definitions and dimensions of customer relationship management and second, how to develop a model of customer relationship management that can be applied to PT. Bank X. The approach used in writing this paper is a qualitative approach, namely the research method used to examine scientific objects. The academic implication in this paper is that there is a theoretical understanding of the causes of company success and failure in implementing System Application and Processing Customer Relationship Management (SAP-CRM). Meanwhile, the practical implications for this journal are expected to be taken into consideration for business people, especially in the banking services industry in implementing SAP-CRM. The conceptual focus developed in this paper is to examine the dimensions of customer relationship management so that a model that describes customer relationship management in the banking sector can be developed. The original contribution to this journal writing can provide a new perspective on a more proactive CRM
EFFECTS OF ASSETS UTILIZATION ON FIRMS’ FINANCIAL PERFORMANCE: A STUDY OF SELECTED OIL AND GAS FIRMS IN NIGERIA
No full textThe challenges of assets utilization are critical to the growth and performance of firms in terms of liquidity, profitability and survival. Thus, there is need to examine the effects of assets utilization on firms’ financial performance. Different variables were used as proxy for asset utilization as most previous works tested the effects of the entire fixed assets on performance, while this study separated fixed assets into tangible and intangible assets. Secondary data which were obtained from the annual reports of six Oil and Gas firms for thirteen years (2007 – 2019) were used for the study. Descriptive statistics, panel unit root test, co-integration and Panel Dynamic Ordinary Least Squares (DOLS) regression estimation technique were adopted in analyzing the data. The results of the study revealed that tangible assets utilization had no effects on profitability, while the intangible assets utilisation had effects on profitability. It also revealed that current assets utilization (Inventory and Accounts Receivable) had effects on firms’ profitability. The study recommended that the amount of capital investment incurred by Oil and Gas firms on fixed asset should be considered by focusing on assets to liabilities proportion in order to avoid over-capitalisation
CURRENCY CRISES IN GEORGIA: A MULTIVARIATE LOGIT MODEL
No full textAfter the collapse of the Bretton Woods system, developing countries, including Georgia, experienced several currency crises followed by severe recessions and deteriorated macroeconomic stability. This creates incentives for policymakers to predict currency crises in a timely manner, and avoid them or mitigate their negative consequences. This paper aims to identify episodes of the currency crisis in a panel of the Post-Soviet countries (to create evidence for Georgia), and access predicting power of the various economic, structural and institutional variables. Based on the different versions of the foreign exchange market pressure indices and their critical values, we identified three periods of the currency crisis: 2008-2009, 2015-2017 and 2020 years (with multiple episodes of the crisis). Among the reasons behind these episodes of currency crises, we can highlight: global financial crisis, monetary expansion of the United States, reduced crude oil and commodity prices, armed conflicts between countries in the region, political instability and imposed sanctions, and COVID-19 pandemic. Early warning indicators were chosen based on desk research of the theoretical models, and meta-analysis of the empirical papers. The optimal forecast horizon is 1 year and predicting ability of indicators are assessed employing multivariate logit model. One-year lag of the annual export growth, crude oil price and credit to GDP ratio are significantly correlated with the probability of currency crisis. These early warning indicators have an ability to collectively predict currency crises one year prior. The results of the multivariate logit model are robust under different specifications of the model. In contrast to the theoretical foundation, the lag value of the crude oil prices is positively correlated with the probability of the currency crisis, but narrowing the predicting corridor changes the sign of the correlation coefficient from positive to negative. The most reliable specification of the models successfully predicts 34% of the crisis episodes. Moreover, the model has low Quadratic Probability Score (QPS) and Logarithmic Probability Score (LPS), indicating high level of reliability of the model’s outcomes
Decentralized Autonomous Organizations as the New Form of Economic Cooperation in Digital World
No full textAbstract. This paper draws the concept of the decentralized autonomous organizations (DAO) as new opportunities for digital economy and new form of digital cooperation with economic potential of DAO, as well as reveals the main problems and risks associated with functioning of DAO. Quick development of technology and digitalization of society, increase in the number of modern electronic devices will lead to new forms of cooperation, where borders and distances will not be an obstacle to combining human efforts and resources. One of the forms of such cooperation should be DAO as a reliable and effective substitute for the institution of economic mediation and traditional legal forms. Despite the attractive optimization of a number of processes due to digital freedom and low bureaucracy, a number of issues related to protocol security, legal uncertainty and temporary complexity of the internal mechanism remain unresolved. Modern blockchain technology is becoming a platform for capital formation, where cryptocurrencies and digital assets can be moved directly within DAO itself or with another compatible DAO. That allows the creation of organizations in which participants maintain direct real-time control of contributed funds where the governance rules are formalized, automated and enforced using software. While DAOs have been discussed and experimented with for the last five years, only now have they become the logical extension of the capital formation piece. The opportunities ahead will be in the formation of new types of organizations based around the interactions between digital stake holders and decentralized governance. Despite the potential that DAOs present, they face challenges from legal, governance and security perspectives. We are convinced that new forms of economic cooperation based on blockchain and DAO technologies may open up shortcomings in the near future, and we know how to implement them in national platforms adapted to modern legislation that promotes economic progress and global cooperation. Also we believe that DAO should become a separate economic system based on the idea of Seconomics end Robonomics, where the digital economy is seen as an integral part of CyberSecurity.
IMPLEMENTATION OF INTERNAL CONTROL SYSTEMS NECESSITY TO REDUCE THE RISK OF DENATURATION IN AUDIT
No full textInternal control is the process designed, implemented, and maintained by those charged with governance, management, and other personnel to provide reasonable assurance as to the achievement of an entity\u27s objectives regarding the credibility of financial reporting, the efficiency and effectiveness of operations, and compliance with laws and regulations. The applicable regulations to identify and evaluate the risks of significant distortion by understanding the entity and its environment. In this research, we will highlight the elements of a risk-based internal control system that will bring benefits to an entity: efficiency and effectiveness of operations, the credibility of financial reporting, compliance with applicable legislation and regulations
ESTABLISHING LOCAL BUDGET EXPENDITURE - FUNDAMENTAL STAGE OF LOCAL BUDGETING
No full textThe establishing, sizing and distribution of local budgets expenditure by authorizing officers, by purpose, i.e. shares, activities, programs, projects, objectives, shall be carried out in accordance with the powers of the local public administration authorities, the priorities set by them, with a view to their operation and in the interests of the local authorities concerned. Factors affecting the size of local budgets include subjective factors, including random or unpredictable phenomena during the process of budgeting and approving the local budget. In this article we propose to investigate and analyze how to establish the provisions on the expenditure side of the local budgets, but also to identify an optimal method for establishing them. The study starts with the presentation of traditional methods of establishing expenditure in local budgets: the automatic method, the method of increase (decrease) and the method of direct evaluation. A central part of the article is the presentation of the main categories of public spending in Romania\u27s local budgets. Research carried out through this article shows that under the current circumstances it is necessary that the design, rationale and preparation of local budgets must take into account economic development requirements, social and cultural requirements and requirements for the functioning of local administration
EVOLUTIONARY-CONCEPTUAL APPROACH TO THE AUDIT OF FINANCIAL STATEMENTS: THE REPUBLIC OF MOLDOVA AND ROMANIA CASE STUDY
No full textThe term ,,audit” is related to the development of entities with the delimitation of the competencies and responsibilities of managers from that of owners, as well as the complexity of transactions, performed by entities and the development of the economic business environment. The emergence and development of auditing has been and is a normal necessity, as a result of international and European trends and practices in this field. The motivation that led the authors to address this topic is the timeliness and importance given to audit in the audit legislation, which was found during the doctoral research process, as well as providing readers with the opportunity to know the development of auditing over the years. Through the scientific approach, we intend to continue the existing research in the field of auditing financial statements by emphasizing the evolution of the audit both globally and in the Republic of Moldova and Romania, by expressing the opinion regarding the fundamental stages of audit development. To achieve the objectives set out in this article, the approach is a deductive one, because the starting point is theoretically necessary to study the evolution of the audit, the elements that define it, but also an inductive approach, because we relied on the method of observation and induction. The descriptive method was used to present the changes that took place in the historical development of the audit. The results of the research expressed a clear picture by highlighting the stages of development of the audit and its efficiency, as the businesses grew in complexity. The research objectives were achieved based on the study of existing bibliographic sources and the provisions of the legislation in the field
CAPITALIZATION OF THE EXISTING POTENTIAL FOR THE DEVELOPMENT OF THE LOCAL COMMUNITY. THE CASE OF CÂMPULUNG MOLDOVENESC MUNICIPALITY, SUCEAVA COUNTY
No full textThe specificity and the existing opportunities at the level of a community give it the feeling of local identity and at the same time, it can be a “lever” for the real involvement of the whole community in development. From such a direction, the purpose of this article is to analyze the concrete situation existing at the community level, in order to identify the potential and opportunities for local development, particularly at the level of Câmpulung Moldovenesc Municipality. The approach shows that the tourism sector is a catalyst for the development of Câmpulung Moldovenesc Municipality, being currently the only definite direction for community development. In addition, from examining the views expressed by the interviewed residents on the impact of creating the ski area, we noted that they are convinced that the investment will contribute to the development of the city, determine a significant increase in visitation rate and increase community welfare. Also, from the analysis we found that the support of educational infrastructure was not a real interest for local authorities, who later realized that ensuring a quality education system contributes to increasing student achievement. The answers of the interviewed teachers showed that the modernization of schools has a major impact on school performance, as evidenced by the numerous participation of students in competitions and school Olympics. With regard to cultural heritage, we found that recently began the rehabilitation of the museum, unique in the country and among the few in Europe, which increases its attractiveness, the number of visitors, ensuring access to culture
Consumer responsibility in the context of transition to green economy in Romania
No full textThis paper presents a quantitative research with two main directions: (1) to determine the strength of a possible association between the consumers’ expectations from the companies and their willingness to be actively involved in the transition to green economy and (2) to establish the degree to which the level of education influences the expectations of the consumer regarding green technologies when deciding to buy from a company. It was confirmed that although there is a significant level of awareness regarding the impact of companies on the environment, it is not transposed proportionally in the awareness of the consumers of their own responsibility in the transition process towards a green economy. Given the obtained results, the Romanian consumer, although aware of the importance of protecting the environment, is not convinced of his own responsibility in this process, being rather inclined to believe that it is rather an obligation of companies to ensure a transition towards a green economy than their own