Ecoforum Journal (University of Suceava, Romania)
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A Bayesian Approach to Vector Autoregressive Model Estimation and Forecasting with Unbalanced Data Sets
No full textOne disadvantage of vector autoregressive (VAR) models is that they require time series to have equal lengths in the estimation process. This requirement induces a loss of potentially valuable information coming from time series that are longer than others. The issue is particularly evident in macroeconometric setups whenever variables have different starting points due to reasons grounded in various data recording and/or collection particularities. In many developing and emerging economies - especially those that were transitioned to market economies in the late 20th century - initial statistical observations on macro variables suffer from uneven availability and/or reliability. In this paper, we offer a remedy through a Bayesian approach: information in longer time series is aggregated into a prior which is then used in the estimation of parameters for the VAR process of clipped and equally-sized time series. Relative model performance is assessed by forecasting ability of resulting models gauged by mean absolute scaled errors (MASE). For illustration purposes, we employ time series from the Georgian economy and find that resulting (Bayesian) VAR models on average perform 7% better than standard alternatives with the same set of variables
THE LEVEL, EVOLUTION AND TRENDS OF THE PHENOMEN ON MONEY LAUNDERING
No full textMoney laundering is the process by which criminals create the illusion that the money they have is their own and they have the right to dispose of it as they wish, over time, using several methods to camouflage large sums of money resulting in following illegal business. The study and in-depth knowledge of the great diversity of criminal methods, brings to light, to counteract by legal action, crime both in a country and worldwide, being extremely useful in eradicating money laundering and underground economy procedures
THE IMPACT OF MULTIGENERATIONAL LEADERSHIP ON ORGANIZATIONAL PERFORMANCES
No full textAbstract The leadership has a big influence on organizational performances, emphasizing on an efficient leadership but also emphasizing on discovering other leadership styles that are being understood by every generation. This paper highlights the way leaders are seeing the generational differences and the approach in which every generation are looking up to their leaders. The paper focuses on analyzing the multigenerational leadership inside of a company that is in the field of bank finance. Following the results, we can say that the leaders are being made with motivation, encouragement, and freedom of action, they encourage and motivate the employees as far as job tasks are concerned, improving performances and decision making.
A BIBLIOMETRIC ANALYSIS OF INDUSTRIAL TOURISM RESEARCH
No full textAbstract The aim of this study was to identify trends in industrial tourism literature in bibliometric terms by analyzing scientific studies carried out in recent decades. According to research findings, were observed that experimental researches on industrial tourism do not hold an important place in the Romanian specialized literature and other international publications. This paper conducts a bibliometric overview of the industrial tourism research on the Web of Science (WOS) platform and it identifies the most frequently used terms with regard to industrial tourism, by means of the VOSviewer software tool
ASSESSMENT OF RISKS OF MONEY LAUNDERING AND TERRORIST FINANCING AND INFLUENCE ON FINANCIAL AUDIT OPINION
No full textAlmost half of the Romanian companies have been victims of economic crime in the last two years, and over 50% of the economic crimes committed globally were caused by the inefficiency of internal control mechanisms, according to a PwC Report of May 2018. Under these conditions, it was necessary for economic entities to develop procedures that prevent, combat, but also report fraudulent behavior. The financial auditor has an important role to play in this direction, both for assessing the risk of fraud, in general, and for assessing the risks of money laundering and terrorist financing, in particular. In this regard, recent changes were made to regulations issued at European and national level on the obligations of financial auditors for the establishment of measures to prevent and combat money laundering and terrorist financing in the missions in which they are involved. This article aims, on the one hand, to highlight the financial audit procedures for assessing the risks of money laundering and terrorist financing identified in the audit missions of companies listed on the BSE, and on the other, to test the influence these risks on the reporting by the financial auditors of the suspicious transactions, but also on the audit opinion
THE MAIN ASPECTS OF MARKETING STRATEGY IN AGRICULTURAL WASTE RECYCLING
No full textAbstract:Waste recycling is currently one of the main problems of society. Processing of agricultural products is one of the main aspects and factors of integration of processing in general. Also, this type of processing is the most difficult in global and holistic integration, as it has the largest number of processes and stakeholders. Also, in the processing of agricultural waste there are many points of waste generation such as production, transportation, warehousing, storage, retail and consumption. At each of these points, there are different stakeholders who are more or less interested in recycling. Which in turn increases the number of problem points for integration and has an extensive number of business processes at different levels. If the integration of industrial waste or hazardous waste recycling has 2-3 stakeholders, then agricultural waste recycling has 7 stakeholders, which form more links between them, which increases the number of problem points and stagnation points for recycling
TRANSHUMANISM VERSUS THE FUTURE OF ACCOUNTING
No full textDue to the accelerated development of technological innovations, the accounting profession is undergoing changes. Studies conducted by research offices worldwide have shown that a significant transformation of the profession is anticipated in the upcoming years. Thus, there is a tendency to develop accounting software, which provide reliable and relevant financial information, to perform in-depth analyzes, and in a timely manner to provide financial advices. There is a need for future accountants to possess both financial-accounting language and to have advanced technical skills in the field. Hence, the importance and timeliness of the topic because the concept of “transhumanism” involves the use of contemporary technological sciences by capitalizing on human existence, by improving human skills, while imposing respect for reason and science. Thus, the authors set out to shed some light on this area, given that these two concepts have been unstudied so far. The research methodology is based on the method of comparison, induction, deduction, analysis of literature and web sources, as well as international web sources that have been studied
STATISTICAL ANALYSIS OF THE DYNAMICS OF ECONOMIC COMPETITIVENESS IN THE TWO EMERGING COUNTRIES, ROMANIA AND POLAND, IN THE PERIOD 2015-2020
No full textMore than ten years after the global financial crisis, the prospects for a sustained economic recovery remain in jeopardy due to the widespread failure of leaders and policy makers to implement the necessary reforms to support competitiveness and bring the necessary growth in productivity, according to the World Economic Forum. Competitiveness is generated at the macroeconomic level, at the country level and it becomes competitive when it manages to build an efficient development climate for each company, the environment in which they are able to survive and develop in any domestic economic environment, but especially international. The aim of this study is to identify impact factors on the comparative evolution of competitiveness by analyzing the two macroeconomic indicators Gross Domestic Product and Global Competitiveness Index in the two emerging countries - Romania and Poland, in 2015-2020, based on data provided by Eurostat and the National Institute of Statistics and Economic Studies, respectively by the global competitiveness reports. Gross Domestic Product is the most complex indicator calculated according to the same methodology in all European Union countries. Based on the National Accounts record system, the gross domestic product expresses an appropriate comparability. Also, calculating the gross domestic product per capita and purchasing power parity, there are obtained some indicators that ensure not only comparability to the size of development, but also express the standard of living, the quality of life in the states under analysis. In this study, the structural comparability of the Gross Domestic Product was performed after assessing the stage of economic evolution in each country. The article is accompanied by significant graphics, which highlight the conclusions drawn by the author. It is also analyzed the evolution of the Global Competitiveness Index (GCI), a comprehensive tool that measures the microeconomic and macroeconomic fundamentals of competitiveness. The GCI provides a detailed analysis of the productive potential of national economies
ANALYSIS ON THE POSSIBILITIES OF INCREASING THE COMPETITIVENESS OF CULTURAL ORGANIZATIONS THROUGH RESOURCE MANAGEMENT
No full textIn order to increase the competitiveness of artistic events organized by cultural entities in the Cluj area, we carried out an analysis on the managerial tools in relation to the resources used, with the intention of coordinating them. The literature reveals that the degree of performance can be related to the level of competitiveness of an organization; the present study seeks to highlight the causal relationships between the specific use of a managerial tool within artistic entities and their competitiveness potential.The study, based on a survey, determined that managerial tools are not fully exploited in cultural organizations, whereas empirical data suggest that in the field of organizational resources the management of financial resources stands at the forefront. Therefore, we conclude that managers must focus on other priorities in resource management, the control and professionalization of financial management alone not generating increases in competitiveness (performance). The need for investments from the sponsors is directed towards technology, the management by the organizers as a whole of the resources, with emphasis on the professional development and the numerical growth of the involved staff being able to generate efficient performances, sources of increasing competitiveness