Publicații - Universitatea de Vest "Vasile Goldiș" din Arad
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Income Inequality and Economic Complexity Nexus: The Moderating Roles of Institutional Quality and Globalization
Full text linkThis paper investigates the link between economic complexity and income inequality by addressing the moderating functions of institutional quality and globalization on economic complexity. The dataset spans the G7 nations throughout the years 1995–2020. Parameter estimations draw on Panel Corrected Standard Errors (PCSE). Two models explore disparity in income distribution. The first model addresses personal income inequality, second labor income share. Economic complexity, institutional quality, globalization, economic growth, and human capital are independent factors in both models. The results show that when moderating effects are not taken into account, economic complexity increases income inequality and decreases labor income share. Conversely, institutional quality reduces personal income inequality and increases labor income share. When we consider the moderating roles of institutional quality and globalization; the higher institutional quality reduces the negative effects of economic complexity on personal income inequality as well as labor income share. This result shows that the moderating effect of institutional quality helps economic complexity to distribute income relatively more fairly. On the other hand, when the moderating effect of globalization is taken into account, it reveals that increasing globalization strengthens the negative effect of economic complexity on labor income share and reduces its effect on personal income inequality. In other words, although globalization provides a more equitable distribution among individuals, it does so at the expense of reducing labor income share. 
Theoretical, Legal and Empirical Aspects of Corporate Governance
Full text linkThe study tackles the problem of corporate governance from three directions. First, it reveals the theoretical aspects of corporate governance, with a special focus on public enterprises and the shift towards the new legislative package. Second, corporate governance is analyzed based on the legislative and legal aspects of public enterprises, which are financed by the state budget, and their implication vis – á – vis of the new legislative amendments and legal developments. Third, it is analyzed from the empirical point of view, the corporate governance indicators at the OECD and the Romanian levels. The conclusions of the study highlight the importance of central and public authorities in the field of corporate governance, which are fundamental in order to apply in a fair and complete manner the legal norms and stipulations
The Impact of Brexit on Unemployment in the United Kingdom Using Synthetic Control Method
Full text linkThe withdrawal of the United Kingdom (UK) from the European Union (EU) (known as “Brexit”) represented a challenge for labor markets on both sides. Hence, the aim of our paper is to assess the impact of this event on the unemployment rate in the UK. Specifically, the paper assesses the difference between unemployment in the UK after Brexit and unemployment in the UK in case the UK would have remained in the EU. Moreover, it identifies economic factors that influenced the monthly unemployment in the UK in the long and short run since the official Brexit happened in February 2020. The paper applies the synthetic control method for the data from the period 1995-2022 under three types of donor pools: a sample that includes all the Old EU Member States (EU Member States prior to the 2004 Enlargement), a similar sample that excludes Spain and Greece and a pool based only on the EU neighbors of the UK. The sample based only on the EU neighbors provides the most accurate results and indicates a lower, but non-significant unemployment in the absence of Brexit compared to the real situation. On the other hand, there is a long-run relationship from inflation and economic growth to unemployment in the period between February 2020 and December 2022, while inflation acts as a factor that reduces unemployment
Digital Transformation in Legal Education: Gamification Models Form India, Brazil, and South Africa for Pakistan
Full text linkLegal education requires digital transformation because it responds to modern pedagogical needs through innovative learning methods to increase students\u27 skills in legal reasoning, advocacy and problem-solving abilities. Legal training that implements gamification mechanics connects game-based elements to produce a dynamic system that builds student involvement along with enhanced mental retention. This paper critically analyzes gamification effectiveness in legal education through an analysis of successful Indian, Brazilian, and South African approaches, which yield adoption principles usable for Pakistan. The paper establishes constructivist learning theories and experiential pedagogy as well as cognitive engagement principles before showing gamification uses in simulated legal practice with interactive case analysis and digital moot courts. The research evaluates three different implementations based on comparative case studies, where it investigates LawBot and AI-empowered legal games in India in addition to Jogo Justo for interactive moot court exercises in Brazil and interactive virtual legal clinics in South Africa. This study contrasts different models by examining their successful methods and limitations to create specific policy changes that match Pakistan’s legal education programs. The paper focuses on aligning curriculum content with each other while developing faculty abilities alongside mobilizing institutional backing and resolving limitations involving infrastructure. A detailed examination of legal regulatory requirements, together with public-private partnerships and policies from the bar councils, investigates the sustainability measures for adoption. The paper recommends future innovation along with digital transformation to improve Pakistan’s legal education system in this age of technology-based teaching methods
Investigating the Symmetric Effects of Working Capital on Profitability in Turkish Banking: an ARDL Empirical Analysis
Full text linkThis paper carried out an empirical study on Return on Assets (ROA), total assets turnover, financial leverage, working capital, and debt-to-equity ratio. This study investigated commercial banks operating in Turkey. A secondary data collection method is used for the data collected from fifteen commercial banks. These banks\u27 financial reports were examined from 2011 to 2022. A line graph is presented for each balance that tells us the volatility ratio in the variables, the unit root test applied to resolve the unit root problem, and the cointegration test used for long-term relationships among variables. The Autoregressive Distributed Lag (ARDL) bound test was performed to measure the short-run and long-run effects. Financial leverage, debt-to-equity ratio, and working capital have short- and long-run effects on ROA. Total asset turnover has only long-run effects on ROA in the Turkish banking industry. This study will be beneficial for investment managers, financial specialists, treasurers, and controllers of the banking industry
Analysis of Underwriting Activity and Its Impact on the Profitability Ratios of the Insurance Companies Listed in the Iraq Stock Exchange
Full text linkIt is commonly accepted that the success and expansion of insurance companies\u27 underwriting operations, which is indicated by the premiums received from insurance policies, is reflected in their profitability rates. During the period of 2010 to 2021, Iraqi insurance companies in the private sector that are listed on the Iraq Stock Exchange experienced a fluctuation in the increase and noticeable decrease of gross written premiums, which had a negative impact on their profitability ratios. The aim of this investigation is to analyze the underwriting activities carried out by all insurance companies that are publicly listed on the Iraq Stock Exchange spanning from 2010 to 2021, and assess the impact of these activities on the companies\u27 profitability rates. To evaluate the profitability of these firms, three indicators are used, namely the rate of return on assets, return on equity, and profit margin ratio. The study employs Data Panel models using Eviews 12 to identify the research samples during the study period. Additionally, the pooled regression model is used to compare the findings and test the hypotheses of the study. In a structured manner, data is collected from the annual reports released by the Iraq Stock Exchange. The statistical examination of the findings reveals that the gross written premium has a significant and positive influence on all of the profitability ratios that were evaluated in this study, namely the rate of return on assets, return on equity, and profit margin ratio
Exploring the Link Between Customer Satisfaction, Service Quality, and Perceived Organizational Support: The Mediating Role of Relational Psychological Contract
Full text linkWith an emphasis on the mediating role of relational psychological contracts, this study sets out to investigate the structural connection between perceived organizational support (POS), service quality (SERVQ), and customer satisfaction (CS). Using descriptive and inferential statistics, we tested the heuristic model for the relationship using data from 394 clients at selected banks in Nigeria. It was found that both perceived organizational support and service quality significantly affected customer satisfaction, with the former serving as a predictor of the latter. In addition, a positive and statistically significant influence of the relational psychological contract was found in the connection between “POS” and CS, and perceived organizational support and SERVQ. In addition, it was determined that banks must maintain all required standards in gaining customers by continually providing a higher degree of service to keep clients satisfied. The structural nexus between the identified variables stood out as a novel idea with a heuristic model depicted for business practitioners and society\u27s opportunities
Mediating Role of Sustainability Reporting Quality on the Relationship Between Green Banking and Firm Value
Full text linkThe mounting environmental concerns have become a pressing issue across industries. Nevertheless, the banking sector has a distinct influence in shaping economic growth and development. This study sought to evaluate the impact of green banking in strengthening corporate value through its level of sustainability reporting in order to address these concerns. A research framework was developed based on theoretical support. The sampled data was collected from banks listed on the Indonesian Stock Exchange from 2018-2021. An empirical analysis was performed through hierarchical regression. The study’s findings indicated that green banking positively and significantly impacts firm value. Furthermore, there is a mediating effect between green banking and business value due to the quality of sustainability reporting. The empirical test revealed that the quality of sustainability reporting has a mediating effect to some extent. The results also showed that there is an interaction between business size (assets) and correlations between firm value and green banking. By undertaking a data-driven research that explains the impact of green banking on business value, this study aims to fill a significant gap in the body of knowledge on green banking and sustainability reporting
Bridging the Gap: Integrating Flipped Classrooms Into Legal Education in Pakistan
Full text linkThe legal education map of Pakistan is plagued by a slew of hurdles, starting with outdated teaching approaches and poor resource provision. This article suggests including flipped classrooms in legal education and the functional outcome of this is to improve the quality and accessibility of legal education. Contrary to the traditional methods of teaching, flipped classrooms force students to interact with the instructional materials before the class. This organization allows face-to-face sessions to focus on interactive discussions and hands-on applications. Major factors necessary for successful implementation include faculty development, technological support, and the correlation of curriculum goals. Flipped classrooms offer a promising route to the issues of legal education in Pakistan. Like that, the method encourages active learning, stimulates cognitive activities, and prepares law scholars better for the difficulties of modern legal practice
Financial Capacity of Insurance Companies as a Factor of Stable Development of the Ukrainian Insurance Market
Full text linkThe relevance of the article is based on an in-depth study of the financial potential of insurers and its impact on the insurance market, which provides valuable information for the stakeholders of the insurance industry. Therefore, this study aims to determine approaches to revealing the essence of the financial capacity of insurers, based on the scientific tools of financial science. The leading approach to the study of this problem is the analysis of the dynamics of liabilities (raised and borrowed funds) and equity capital of insurers and the relationship between them, which enables a comprehensive look at the impact of these indicators on the development of insurance market and internal and external factors that have both an objective and subjective impact on the financial capacity of insurers and the insurance market. The article defines the stages and methodology of assessing the financial condition of insurers. In particular, the normative method, the comparative method, the static method, the formal-logical method, the economic-mathematical method, the method of analysis and synthesis became the leading research methods. These assessment methods are crucial for the timely determination of the current state of financial capacity and its potential. Using a multivariate correlation-regression model, the authors demonstrate the importance of various components of financial capacity. The presented results will be useful to various stakeholders in the insurance industry as they provide a deeper understanding of their financial strength, including the dynamics of liabilities, equity and leveraged funds. First of all, it was established that financial resources are the basis of financial capacity. Secondly, the definition of the insurance company\u27s financial resources as a source and component of the company\u27s functioning is formulated. Thirdly, it is shown that the insurer\u27s financial capacity is logically dependent on its investment capacity, which is determined by the amount of financial resources. It was also determined that financial capacity is a dynamic quantity and is manifested only in the process of its use and ideally should be accompanied by its growth. Among them, it was proved that the main components that significantly affect the formation of the financial potential of insurers and the growth of the insurance market of Ukraine are insurance reserves and authorized capital. These conclusions can easily become the basis for the formation of further state insurance policy, which will be followed through legislative reforms, increased competition in the insurance market and will result in an increase in the level of trust among the population