Publicații - Universitatea de Vest "Vasile Goldiș" din Arad
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Modeling the Oil Price Influences Upon the Energy Sector in the Macroeconomic Context. Empirical Evidence from Central and Eastern European Countries
Full text linkThe oil price influences and tendencies have gained, lately major developments both at the European level and on the international level. Moreover, several interconnections between the energy sector and oil price influences have become the panacea of several important research and studies. In this article, we provide a qualitative and quantitative approach to the interconnections manifested between oil price movements and the developments of the energy sector. The study is focused on Central and Eastern European Countries which have similarities and differences both at the energy sector level and economy level. The econometric techniques used in this study reveal the importance of the causality relationship between oil price movements and the energy sector taking into account the macroeconomic context. The conclusions of this study highlight some important fine-tuning aspects that must be recalibrated in Central and Eastern European Countries to increase the economic outcomes, strengthen the energy sector, and respond properly to the oil price movement trends
Discerning Financial and Investment Epiphanies: Challenges, Inhibitions, and Global Perspectives - What Secrets Does Research Reveal?
Full text linkThe aim of this research was to uncover the secrets related to discerning financial and investment epiphanies through the Challenging Factor of Investments (CHFoI), the Inhibiting Factor of Investments (IFoI), and Demand and Perspective in Investments (DaPiI). It aims to find out how CHFoI is related to IFoI, how IFoI is related to DaPiI, and how IFoI mediates the relationship between CHFoI and DaPiI through direct and indirect effects. Data were collected from owners and investors of 131 companies in different countries (Kosovo, Albania, Montenegro, Belgium, Austria, Germany, United Kingdom, and USA) during the years 2021-2023. Rigorous data analysis methods were used, including exploratory factor analysis (EFA), reliability analysis (Cronbach\u27s alpha), confirmatory factor analysis (CFA), and structural equation modeling (SEM) using SPSS (64-bit) and AMOS (26.0) software programs. The results revealed three pivotal factors-IFoI, DaPiI, and CHFoI-and their subfactors. highlighting their significance in financial and investment dynamics. Specific influences such as instability in exchange rates, rising production costs, and stability-focused investments were identified. Strong correlations and low p-values indicated robust statistical significance, emphasizing the interconnectedness of IFoI, CHFoI, and DaPiI. However, no significant relationship was found between DaPiI and IFoI. The research findings contribute to the understanding of the complex dynamics of finance and investment and provide transformative insights for refining investment strategies. These insights can guide professionals in the field and support informed decision-making. Future research should delve deeper into the relationships between CHFoI, IFoI and DaPiI to reveal additional discoveries
Legal Challenges in Enforcing the Duty to Render Assistance at Sea: Implications for Maritime Autonomous Surface Ships (MASS)
Full text linkInternational Shipping is subject to both national and international regulations to ensure safe and sound shipping as well as to enforce rights and obligations. Technological advancement in the shipping industry especially the introduction of maritime autonomous surface ships (MASS) is going to bring a great change along with challenges. Moreover, there are issues concerning the regulation of MASS under existing regimes such as the meaning of the relevant terms, the requirement to have a master and crew on board, the master’s duty to render assistance at sea, seaworthiness and avoidance of collisions. This paper aims to focus on the enforcement of the duty to render assistance at sea over MASS. Hence, this paper analyses the challenges that may arise while employing the duty over MASS, non-compliance under the present laws and the need for the adoption of a new regulatory framework to settle such non-compliances
Analysis of Licensing Issues in Tourist Destination Development: Case Study of Hibisc Fantasy Park
Full text linkThe development of tourism destinations requires a strict and structured permitting process to ensure compliance with spatial planning, environmental protection, and community welfare. This study analyzes the licensing issues encountered in the development of Hibisc Fantasy Park in Puncak, Indonesia. Using a qualitative method with a juridical-empirical approach, the research identifies discrepancies between the obtained permits and actual development practices, such as the expansion of the construction area far beyond the approved limits. The study highlights several key factors contributing to the violation of licensing regulations, including weak government supervision, poor inter-agency coordination, economic pressures on developers, lack of regulatory understanding, and limited government resources. The findings emphasize the urgent need for stronger regulatory enforcement, improved institutional coordination, and greater public awareness to promote sustainable tourism development. Recommendations are provided to enhance the effectiveness of licensing systems and to ensure that tourism growth aligns with legal and environmental standards
Ranking the Financial Inefficiency Factors of Companies With the Combined Approach of Data Envelopment Analysis and Neural Network
Full text linkThe purpose of this article is to identify and rank the factors of financial inefficiency of companies. For this, a combined approach and two techniques of Data Envelopment Analysis (DEA) and Artificial Neural Network (ANN) are used. The work is done in two stages. In the first stage, we use the data envelopment analysis model and evaluate the efficiency of the companies. In the second stage, the efficiency score obtained for the companies is used and neural network methods are used to determine the factors of financial inefficiency in the companies admitted to the stock exchange. The results of the research show that the proposed approach identifies and prioritizes the factors of financial inefficiency of companies listed on the Tehran Stock Exchange
Balanced Scorecard-based Project Priorities of Sustainable Energy Financing via Artificial Intelligence-enhanced Hybrid Quantum Decision-making Modeling
Full text linkThe most essential factors should be defined to increase the effectiveness of sustainable energy financing. Otherwise, businesses may face some financial and operational problems due to not using resources effectively. However, only a limited number of studies in the literature have identified these important factors. This situation shows a need for a new study to determine the variables that have the greatest impact on the effectiveness of sustainable energy financing. Thus, the purpose of this study is to identify significant determinants that affect the effectiveness of sustainable energy financing. For this situation, a 3-stage model is constructed to reach this purpose. The first stage prioritizes the experts with the help of artificial intelligence (AI). The second stage weights the assessment criteria of sustainable energy financing by quantum spherical fuzzy M-SWARA. Finally, the balanced scorecard-based project priorities of sustainable energy financing are ranked with quantum spherical fuzzy WASPAS.
The main contribution of this study is that a detailed evaluation is performed to understand significant strategies for the improvements of sustainable energy financing with a novel model. Calculation of the expert weights with AI increases the quality and originality of the model. Similarly, considering M-SWARA, WASPAS, quantum theory, and spherical fuzzy sets also increases the effectiveness of the model because of managing uncertainties more effectively. The technical competence of the enterprise and Funding diversification are found as the most important items in increasing the effectiveness of sustainable energy financing. Additionally, according to the ranking results, it is determined that financial issues and customer needs are the most significant alternatives
Exploring the Energy Consumption and Carbon Emissions Nexus in Nigeria
Full text linkThis study investigates the intricate nexus between energy consumption and environmental quality in Nigeria, a country that is highly vulnerable to climate change. Focusing on the Sustainable Development Goals (SDGs), particularly goal 13 climate action, this study examined the effect of diverse fossil fuel sources on environmental quality measured by CO2 emissions. By unbundling the diverse energy sources and assessing their individual and interactive influence from 1990 to 2023 using the Environmental Kuznets Curve (EKC) framework, this study provides a nuanced understanding of the impact of diverse energy sources on carbon emissions. By applying the EKC framework, this study aims to determine whether the nexus between economic growth and environmental degradation in Nigeria follows a hypothesized inverted U-shape. Using the Autoregressive Distributed Lag (ARDL) model, this study contributes to the extant literature by exploring both the long- and short-run linkages between energy consumption and CO2 emissions and analyzing the ripple effects across diverse economic sectors. The findings reveal a complex link between energy consumption, economic growth, and CO2 emissions, which is consistent with the EKC hypothesis. Energy consumption stimulates economic growth and significantly influences emissions from transportation, industrial activities, urbanization, and residential/commercial services in Nigeria. This study concludes with actionable policy recommendations emphasizing the transition to green energy, stringent emission regulations, and investment in public transportation infrastructure to mitigate CO2 emissions and enhance environmental quality. These insights can assist policymakers in formulating targeted interventions for sustainable growth and ecological sustainability
Exploring the Role of Financial Development in Fostering Entrepreneurship in African Countries
Full text linkA number of obstacles faced by African entrepreneurship, and financial concerns are frequently covered in academic literature. Studies in this area have generated a range of results that demonstrate the intricacy of the relationship between entrepreneurship and financial development. This study examines the critical role that financial development plays in promoting entrepreneurship in Africa to contribute to the ongoing discussion. It does this by examining the short- and long-term impacts and the differential effects within the continent. The study employs panel data regression techniques to evaluate data from 28 African countries spanning between 2006 and 2020. The analysis reveals that entrepreneurial development is constantly boosted in both periods by financial development along with the establishment of financial markets and institutions. This implies that the influence of financial development and its components is consistently positive, with no appreciable differences in impacts noted in the short or long term, even though this is more pronounced in the long run. The results of the causality analysis demonstrate a unidirectional causal relationship between financial development and entrepreneurship, with the causality flowing from financial development and its components to the development of entrepreneurship. In light of this evidence, the study highlights the need for policymakers to prioritize sustainable financial development policies that improve stability and inclusivity in financial markets. Such efforts should include policies targeted at enhancing financial infrastructure and easing access to capital for entrepreneurs. This would include easing bottlenecks to financial services and giving schemes that directly assist entrepreneurship top priority. 
Tax Evasion and Non-oil Revenue Administration in Nigeria
Full text linkThe relationship between tax evasion and non-oil revenue in Nigeria was investigated in this study. The study’s specific objectives were to investigate how corruption perception index and revenue leakages through tax evasion impact non-oil revenue in Nigeria. Secondary monthly data from 2015M1 till 2022M12 and the study\u27s data were taken from the Central Bank of Nigeria\u27s annual reports and the Nigerian Federal Inland Revenue Services\u27 yearly reports. The sourced data was estimated using the multiple regression technique. The unit root test showed that all the variables were stationary at levels. Findings showed that corruption perception index and revenue leakages through tax evasion negatively and significantly impact non-oil revenue in Nigeria. Therefore, the research suggested that in order to penalize those who commit tax evasion, the government\u27s tax rules should be examined on a regular basis
Fetal and Abortion Rights Under the Maastricht Principles on the Human Rights of Future Generations: a Contradiction
Full text linkOn 3 February 2023, the Maastricht Principles on the Human Rights of Future Generations was adopted in Maastricht, Netherlands, by a group of human rights experts. Though not legally binding, these Principles seek to safeguard the rights of persons, groups, and peoples yet to exist. Accompanying the Maastricht Principles is a Commentary by the drafters explaining the import of each principle. This paper argues that the categorical denial of any form of legal protection for human embryos, fetuses and unborn children in the Maastricht Principles fundamentally undermines its objective and conflicts with the Convention on the Rights of the Child (CRC). It posits that women’s reproductive rights, including abortion, must be balanced with the imperative to protect the survival of unborn children. It juxtaposes the pro-life and pro-choice views on abortion, highlighting untapped middle grounds. While acknowledging that the mother\u27s best interests should prevail in cases of conflict, this paper asserts that granting human embryos and fetuses a baseline of legal protection is essential to the coherence of the Maastricht Principles. Without such safeguards, the very concept of future generations is jeopardized