19 research outputs found
Guvernanta relatiilor pe verticala si impactul ei asupra sistemelor de productie
No full textBusiness literature, especially in the field of operations management, advanced several models of production systems used by firms, among which we can recall Fordism and Toyotism. While such a literature analyses the strenghts and weaknesses of each of these models, highlinghting their impact on firm competitiveness in general and logistics in particular, a less debated issue is the control and ownership relations that are particular to each of these models. From a certain perpective, such models are not only the result of a choice of production system (and, in particular, of a logistics option) of the firm but of a particular industrial organization, on the limits of the control of the firm. In other words, Fordism couldn’t but emerge in United States of America while Toyotism but in Japan as these two countries know different systems of corporate governance which are materialized in particular supplier-client relations. The answer to the question whether one of these models is optimal for a particular industry in a particular period must be paired with a fundamental debate on the control relationship of the firm towards its industrial suppliers and clients. The conclusion is that such a decision regarding the production system is not related to the logistics or the product strategy of the firm but to its ownership borders.corporate governance, production systems, buyer-supplier relations,logistics
O evaluare a abuzului de pozitie dominanta în politica europeana în domeniul concurentei: relevanta cazului Microsoft
No full textThe recent punishment of the biggest global microprocessor producer, Intel Corporation, for the alleged break of the European legislation in the competition field is a result easy to have been anticipated starting with 2004, when European Commission fined the biggest global producer of operation systems, Microsoft Corporation. Practically, from that moment on, a true Sword of Damocles hanged above the head of the giant of Santa Clara taking into account the numerous common elements of the – not to say the same – business strategies of the two companies. Such an identity as well as the reciprocal dependence has been the reasons why the analysts have permanently spoke since the late 80s of Wintel, the strategic alliance that transformed the PC architecture from a proprietary platform of IBM in a “co-proprietary” platform of Microsoft – Intel. And, in order for the semblance to be complete, as Microsoft was the first company in the history of the European – and global – competition law that didn’t immediately adjust its competitive behavior after the legal verdict, we can easily anticipate that the second company to get this title will be Intel. And the two cases can prove not only a Mens Rea of the executives of the companies but also a wrong approach of the European, as well as international, authorities in what regards positions of monopoly. It may be the moment that the competition policy be reformulated in a radical way in order to let the performance oriented companies, even if they are dominant, to explore business models and commercial practices that consumers can benefit from.competition policy, abuse of dominance, Microsoft, Intel.
International labor migration: between human rights and political objectives
No full textThis paper deals with the relation between the human right to migrate and the objectives of immigration policies. We argue that the temporary work migration is the clearest sign of the failure of political governance in both the host and native states, even if we may argue, to a different degree. The only way to reduce the pressure of immigration in developed countries would be to allow a freer global environment, in trade, industrial and taxation policies.labor migration, human rights, political governance, public goods
Newservices in a new economy: the role of venture capital in a knowledge based society
No full textThe present article argues that the development of a knowledge based society has a powerful impact in the role played by the financial sector in an economy as the services supplied by the traditional financial institutions - the commercial bank and the stock exchange - are seriously challenged by the present reality. In such a context, a new type of financial intermediary - the venture capital fund - knows an explosive growth, being directly linked to the proliferation of the new type of economic system. The development of the venture capital funds will not cause the disappearance of the traditional financing sources as this new financial actor „fills a gap“ in the financial system, which is developed in the present day form during the Industrial Age. The maturation of the venture capital industry is the financial equivalent of the proliferation of the knowledge based society.eventure capital, innovation, knowledge, knowledge based, society
Developmental State, Business Concentrations and Financial Repression: the case of the Republic of Korea
No full textThe issue of whether a state has the ability to foster economic development despite what seems to be adverse conditions confronting it lies at the core of the field of international economics. Besides economic theory, public policy-making has a strong interest in such a debate. Why some states are more developed than others? How did public policies explicitly targeting economic growth succeed in certain cases and fail in others? Such an issue is critical not only for the developing countries but also for the developed countries one. The former are tempted to emulate a certain model. The latter are debating the role of public policies. This article criticizes the mainstream argumentation advanced in the international economics literature that not only accepts the possibility of a state to induce development but strongly promotes such a perspective. In the field of public policies, such a perspective lies at the core of the philosophy of international organizations such as United Nations (see the Millennium Development Goals) or World Bank (as its name remembers us, it is the International Bank for Reconstruction and Development). The scientific truth is that the only role a state can play in fostering development is to clearly define and enforce private property rights in accordance with natural ethics. Any other task performed by the state (which assumes the historic role of a “developmental state”) not only doesn’t promote development but actually it delays, blocks or distorts this natural process.developmental state; financial repression; planning
Oil, Development and Security: A Market-Based Approach
No full textThe present paper will attempt to explore the argumentation frequently employed in the public discourse – but less in economic theory – by different categories of stakeholders that the exhaustion of world oil reserves will have a dramatic impact on global economic growth and development. Because of such an alleged impact, policy makers in different countries argue that a stable and cost-effective supply of oil is a matter of national security. Significant political events at a world scale are the result of such an approach. Starting by demystifying the concept of “economic security”, the present paper demonstrates that the best approach to such an alleged problem is to let the markets do their job. Any other solution won’t solve the problem but impose significant costs on society for the maintenance of a status quo which is not sustainable. The history of the myth of the “peak oil” is more a matter of political debate rather than of an economic one. It serves certain categories of stakeholders but not the consumers, the alleged targeted beneficiaries.nonrenewable resources; petroleum industry; government policy
RE_MOVE: A Biomimetics inspired movable habitat structure for research and exploration purposes
No full textThe aim of the project is to elaborate upon performance driven design experiments for habitation and production facilities on Mars. The premises for the project are the advantages of providing a movable self-sustainable spatial structure that can accommodate a full crew as opposed to a static habitat for research and exploration. The concept focuses on the following three aspects: movement and adaptability, in-situ resource production and architectural form finding. Specific attention is placed on biomimetic inspiration for developing movement mechanisms and for the iterative generation of the interior structure and outer shell as multi-performative and integrated solutions. Real-time structural adaptability is also featured as a way to extract maximum resource harvesting potential from the external skin system.Explore LabArchitectureArchitecture and The Built Environmen
Absolute Risk Aversion on the Romanian Capital Market
No full textStock prices move as corporate earnings prospects change, but they also move as investors change their aversion to risk. One of the central tenets of finance is that investors expect higher return for taking risk. They exchange some of their riskless securities for risky assets because they expect the total payoff in the long run to be optimal in terms of the risk-return trade-off. The previous studies proved that expected return is linearly related to risk and if we further assume investors are risk averse, the alluded relation will have to be positive. Aversion to risk is reflected on a risk premium, which consists of an expected extra return that investors require to be compensated for the risk of holding stocks. In this paper, we tried to assess the risk aversion on the Romanian capital market by using the optimal portfolio selection method.equity funds, optimal portfolio selection, risk aversion, utility
Market Changes in the Energy and Green Energy Sector During the COVID-19 Crisis: A Global Perspective
No full textThe objective of this study was to examine the effects of the COVID-19 pandemic on the
energy and electricity industry, with a particular focus on green energy sources such as wind
and solar energy. The analysis provided a global perspective, based on a panel of 45 countries
that represent more than 90% of the world’s GDP. The analysis was structured in two steps:
a counterfactual analysis based on the mean and variance of the country data sample for the
14 indicators and the 45 countries in the panel and a counterfactual analysis that looked at
the statistical significance of the difference of mean between the data sets referring to the
time of the pandemic and before the time of the pandemic using the t-student test of 2 samples
assuming unequal variances between samples. For the pandemic time, the analysis took into
consideration two years (2020 and 2021), and the benchmark year was 2019. The
counterfactual analysis included a short-term perspective based on a comparative analysis
with the dynamic of the year before the crisis (2019/2018 dynamic) and a long-term
perspective based on a comparative analysis with the multiannual average dynamic
(2019/2015 – 5 years). The study results indicated that the COVID-19 pandemic has led to a
decline in global energy and electricity production, a partial reduction in global greenhouse
gas emissions, a partial improvement in the global trade balance with energy and electricity,
a decrease in global energy and electricity consumption, and a partial increase in global green
energy and electricity production and intensit
Economic resilience and the state: A global panel analysis
No full textModern economies are disturbed by recessions that became more and more globalized, much contagious between countries and regions and with higher negative impact during recessions. In this dynamic context, the recovery after recession is essential to prepare the economy for the next business cycle. Understanding of these business cycles (their causes and impact) is fundamental for public policies that should avoid to be pro-cyclical and to add more vulnerabilities to the existing ones. The economic resilience is now a key concept and refers to the capacity of the economy to recover after any recession. The aim of this paper was to explore the relationship between the dimension of the state and the resilience of the economic system by using a global panel data. The study includes 87 countries (870 observations) and data covering 2009 – 2019 provided by World Bank. We used 2 depending variables: GDP gap and GDP per capita gap and 12 explanatory variables grouped in 4 categories: dimension of the state, the quality of public governance, economic development and regional/global economic dependence). The results are robust and significant, confirming that the dimension of the public intervention and the quality of the public governance & administration have a clear impact on the economic resilience and recovery between business cycles
