ISSN: 2344 - 102X
ISSN-L: 2344 - 102X
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Volume 11, Number 3, Year 2023
|2. THE ALGORITHM FOR RECOGNIZING THE RESULTS OF ESG-BEHAVIOR OF BUSINESS IN FINANCIAL REPORTING IN THE CONTEXT OF THE IMPERATIVE OF ITS TRANSITION TO THE SOCIO-ECONOMIC MODEL
|Author(s): Irina Golochalova, Maria Cojocaru
|Abstract: The research aims to develop a conceptualized approach to presenting information about the ESG-activities of businesses in financial reporting, considering the imperative of transitioning to a socio-economic development model. This research is conducted based on general scientific and specific methods, including comparative analysis, abstraction, and modeling. During the research process, the following steps were taken: analyzed the current trend in Moldova's reporting system concerning the disclosure of information related to business ESG-behavior; identified that the conceptual framework for an innovative approach to financial reporting is based on bridging financial reporting theory with the concept of social responsibility; established a criterion for transforming vague social responsibility into business ESG-obligations and their recognition as part of accounting entities; compared different ways of influencing the impact of a business's ESG-contribution on its capital size and overall cost; developed a 3-stage algorithm for presenting information on a business's ESG-performance in its reporting. The research conclusions include the following: The qualification of Moldova's economy as developing and the state policy of stimulating business as taxpayers are crucial factors that have determined the trend of the national reporting system regarding the disclosure of information on business ESG-contributions to achieve sustainable development goals. The recognition of the outcomes of ESG-behavior of socially responsible businesses as components of accounting entities is contingent upon the authority vested in stakeholders concerning the business's associated ownership. The method of influencing the value of a business through ESG-obligations depends on its recognition as part of the financial reporting elements.
|Keywords: Socio-economic Model Of Reporting; Information Usefulness; Socially Responsible Business; Accounting Methodology; ESG-indicators.
|3. THEORETICAL FOUNDATIONS AND CONCEPTUAL DELIMITATIONS OF ACCOUNTING POLICIES
|Author(s): Vilena Tiscenco, Galina Badicu, Cristina - Gabriela Cosmulese
|Abstract: This article uncovers the significance and role of accounting policies in the operations of entities and their impact on financial performance. The motivation that led the authors to explore this topic is the permanent importance and relevance of selecting appropriate and consistent accounting policies. Through the course of this article, we have found that each principle, rule, and requirement adopted by the entity from the alternatives provided in the accounting standards has implications for the accuracy of information concerning the organization's assets. These choices can influence the level of the results, the components of the financial statements, and consequently, the value of various economic and financial indicators. The authors primarily followed the descriptive method with the application of analytical and deductive elements. As a result of this analysis, we highlighted the importance, timeliness, regulatory requirements, and significance of these policies in the preparation of financial statements and the evaluation of performance.
|Keywords: Accounting Policies; Alternative Variants; Financial Performance; Relevance Of Accounting Policies.
|4. BIBLIOMETRIC ANALYSIS REGARDING THE PHENOMENON OF ECONOMIC CRIME BETWEEN 1975 AND 2022
|Author(s): Marius - Sorin Ciubotariu, Adina - Cosmina Racolciuc
|Abstract: Economic crime is an evolving problem, adapting to the most modern dimensions and forms in a society marked by connectivity and dynamism. This paradigm shift in the global economy brings with it both undeniable benefits and significant challenges. National economies and businesses are becoming more exposed to new threats as technological innovation advances and global communication becomes vital, putting them in an unstable position. Therefore, neither traditional nor geographical boundaries apply to the phenomenon of economic crime. On the contrary, it has become a significant problem with devastating consequences for institutional integrity, market stability and sustainable development. Since the study can no longer be limited to the analysis of individual events, it is necessary to analyse the links between technology, economics, law and human behaviour. This requires an in-depth analysis of the phenomenon of economic crime. In order to better understand issues related to economic crime and to address present and future challenges, we aim to identify and map key existing areas of economic crime research, as well as to highlight developments and trends in studies over a long period of time, from 1975 to 2022.
|Keywords: Criminal Aspects; Criminal Behaviour; Corporate Crime; Economic Crime; Economic Crime; Psychological Influences; White Collar Crime.
|5. INTERNAL PUBLIC AUDIT - AN ANALYSIS OF THE ROMANIAN REALITY
|Author(s): Constantin Strapuc, Elena Hlaciuc
|Abstract: This paper is intended to be a photograph of the normative and institutional framework for the organization of internal public audit in public entities in Romania, the stage of implementation and the results obtained in fulfilling its function of support for the organization, by increasing the efficiency and effectiveness of risk management, internal control and governance processes.The investigative approach was carried out on three levels. A first level was represented by qualitative research in the field of internal public audit , by documenting the legislative framework, standards and guides of good practices, as well as the main opinions from the specialized literature. The second level materialized in a quantitative, empirical research on the implementation process and the current state of affairs of the internal public audit function in public entities, based on official data published by the Central Harmonization Unit for Internal Public Audit (CHUIPA) within the structure of the Ministry of Public Finance. On this occasion, the positive aspects were highlighted, but especially the weaknesses of the organization and implementation of the internal public audit function. Under these circumstances, a third level of research was approached, identifying the main causes of weaknesses, using the cause-effect diagram. Finally, conclusions and suggestions were made to overcome the shortcomings found.
|Keywords: Internal Public Audit; Public Administration; Public Entity.
|6. THEMATIC RESEARCH ON ACCOUNTING ERROR AND ACCOUNTING FRAUD
|Author(s): Cristina Timofte (coca), Veronica Grosu, Dan - Andrei Coca, Nicoleta - Iulia Popescu (bodea)
|Abstract: This research aims to quantify the current state of knowledge in what concerns the thematic of accounting error and accounting fraud by use of bibliometric analysis. In addition, the research intents to clarify the distinctive characteristics of each of the concepts of accounting fraud and of accounting error. The research methodology involves conducting a systematic review of the current scientific publications on these themes, as well as the analysis of the scientific material identified on accounting error and fraud, by use of bibliometric tools. The corpus of scientific publications under review comprises of 95 scientific publications extracted from Web of Science. The main findings are that research on accounting error and fraud are mainly conducted at microeconomic level, based on samples of data and information from the accounting system of companies, auditors having a significant role in detecting accounting fraud and errors. Moreover, researchers' focus is on the impact that accounting errors and fraud have on a company's stakeholders, as well as on the business climate.
|Keywords: Accounting Error; Accounting Fraud; Bibliometric Analysis; Fraud Risk.
|7. THE FISCAL APPROACH OF THE ENTREPRENEUR IN ROMANIA - BETWEEN LIMITED LIABILITY COMPANY AND AUTHORIZED NATURAL PERSON
|Author(s): Lucia Morosan - Danila, Claudia - Elena Grigoras - Ichim
|Abstract: In a modern society where the well-being of citizens is pursued and the premise that the development of entrepreneurship has an important contribution to make is taken into account, the state authorities must maintain collaboration and communication with the business environment, so that the adopted fiscal measures would not exert pressure on it, thus cancelling out the effects pursued by these measures, in this case increase the level of budgetary resources. Unfortunately, the Romanian entrepreneur has to keep up with the constantly changing accounting and fiscal changes, so as to ensure a sustainable cash flow and to pay as few taxes and duties as possible (within the limits of the law) and to financially support his current activities of the company. The paper presents a comparison of the existing tax options in 2023 for entrepreneurs in Romania, showing interest for the business environment and specialists in the field.
|Keywords: Entrepreneurship, Taxes, Limited Liability Company, Authorized Natural Person.
|8. EXAMINING THE SYNERGY OF TECHNOLOGICAL FACTORS AND PERSONALITY TRAITS: HOW EXTRAVERSION, CONSCIENTIOUSNESS, AND NEUROTICISM IMPACT TRUST AND E-FILLING ADOPTION FOR USER SATISFACTION AND TAX COMPLIANCE BEHAVIOR
|Author(s): Enda Noviyanti Simorangkir, Ahmad Fakhrorazi
|Abstract: The purpose of this study is to determine and analyze the effect of the role of extraversion, conscientiousness, and emotional response through the variables of trust and e-filling adoption that moderate tax compliance and e-filling user satisfaction. The subjects of this study are Indonesian taxpayers in 2022, and the endogenous variables in this study are tax compliance and e-filling user satisfaction, while the exogenous variables are the role of extraversion, conscientiousness, and emotional taxpayer response, and the variables that mediate endogenous and exogenous variables are those of trust and e-filling adoption. The results of data analysis were obtained with the structural equation model (SEM) method using SMART PLS 3.0 software. The research method is represented by the SEM method - a quantitative descriptive method of data analysis and the results of data processing are carried out with the PLS application. From the results of this study, the conclusion is that partially, the role variables of extraversion, conscientiousness, and neuroticism affect taxpayer tax compliance behavior, e-filling user satisfaction, tax collection trust, and e-filling adoption. Simultaneously, the tax collection trust variable is moderated by the relationship between extraversion, conscientiousness, and neuroticism on taxpayer tax compliance behavior, and the e-filling adoption variable is moderated by the relationship between extraversion, conscientiousness, and neuroticism on taxpayer tax compliance behavior. Taxpayer compliance in paying taxes can occur if taxpayers can increase openness, as well as accuracy in tax reporting, where if later rules are made, it will reduce the emotional and stressful attitude of taxpayers in tax collection because now, the tax reporting process has adopted e-filling and therefore, it will foster trust from taxpayers that there is maximum service from tax collectors, thus creating satisfaction from taxpayers in using e-filling.
|Keywords: Extraversion; Conscientiousness; Neuroticism; Adoption Of E-filling; Tax Compliance Behavior; User Satisfaction.
|9. THE FIRM'S PERFORMANCE MEASUREMENT SYSTEM. DESCRIPTIVE AND BIBLIOMETRIC ANALYSIS
|Author(s): Camelia - Catalina Mihalciuc, Maria Grosu
|Abstract: In practice, a variety of models are used to measure and analyse the performance of a business. Analysis of company performance is fundamental, as competition between economic agents for each market segment has become increasingly fierce, and the weakest often cannot hold their own. In order to survive in this competition it is necessary for companies to identify and reduce vulnerabilities as far as possible by implementing effective management tools that are useful in detecting and addressing weaknesses in company management. A good performance measurement system is one that uses appropriate performance measures, which are performance metrics used to assess a specific attribute of a manager's role, to evaluate management in a way that will link the goals of the corporation with those of the manager. Organizations need to establish performance indicators, implement performance measurement systems that support development strategies to ensure effective resource management, streamline processes and drive continuous improvement. This paper aims to capture the theoretical aspects of the concepts found in a performance measurement system, as well as to carry out a bibliometric analysis of the topic "company performance measurement system" through which numerous authors have been identified who have contributed to the creation and development of the concept analyzed.
|Keywords: Business Performance Management, Financial And Non-financial Indicators, Key Performance Indicators, Balance Scorecard, Performance Management, Performance Measurement System, Strategic Management.
|10. OPTIMAL ASSESSMENT OF THE IMPACT OF INFLUENCING FACTORS ON THE FINANCIAL PERFORMANCE OF COMPANIES IN THE FERROUS METALLURGICAL INDUSTRY IN ROMANIA
|Author(s): Mihaela Tulvinschi, Anamaria - Geanina Macovei
|Abstract: For an economic entity, performance is what contributes to improving the value-cost relationship. The relationship between value and cost is fundamental to purchasing decisions in the economy, in business and among consumers. This study aims to conduct an econometric analysis of the performance of firms in the metals industry. The proposed objectives to achieve this goal are: O1: to carry out a literature review to identify research trends on the stated topic; O2: to generate an econometric model on the influence of financial indicators on financial performance in firms in the metal industry and O3: the effects of economic crises on companies in the ferrous metal industry. Listed ferrous metals companies face serious financial and operational challenges and have adopted a variety of strategies to cope with the effects of economic crises over the period under review.
|Keywords: Performance; Economic Crisis; Microeconometric Model.
|11. CULTURE ECONOMY & WEAPON
|Author(s): M. Moses Antony Rajendran, Karthik Mohan, Alexandru - Mircea Nedelea
|Abstract: The expeditious globalization, rapid expansion, swift growth in population, preferences, choices, culture, cuisine, attire and the emergence of social media and the outbreak of COVID-19, we are navigating through various challenges and complexities related to people, supply chain, health, products, finance and consumers. We are presently going through one of the most substantial changes experienced. Traditional businesses are fading away, and new businesses are popping up. However, today's businesses use this era as a weapon and money-making source. The expeditious culture and transformation over the years are forcing us to take radical steps to adopt technological advancements and modernize culture, products, structures, systems and architectures. As a result, the cultural and present-day trends are transformed in such a way that it harms the environment and people's health though it makes the process simpler, smooth, innovative, user and time friendly.
|Keywords: Culture; Business Economy; Globalization; Rapid Expansion; Business World.
|12. THE ENVIRONMENT - BETWEEN PROTECTION AND DECISION
|Author(s): Gabriela - Liliana Cioban
|Abstract: The environment and its quality are complementary elements of life on Earth. This axiom leads us to evaluate the elements that construct the concept of environmental quality. It is an important theme both in terms of content and in terms of effects it has from a medical, socio-economic, cultural, and demographic point of view. We analyze the environment through synthetic indicators that highlight its positive and negative aspects. In this context, we consider the assessment of the environment in terms of human needs and anthropogenic impact on the environment. The Environmental Performance Index (EPI) allows us to obtain information that highlights the health of the environment, protects ecosystem vitality, and mitigates climate change. It records results for 180 countries and provides practical guidance for countries aspiring to move towards a sustainable future. We underline that EU policy is in line with the European Green Pact's goal of achieving a zero-pollution, competitive, and climate-neutral economy by 2050.
|Keywords: Air Quality; Biodiversity; Environmental Health; Environmental Policies; Pollution.
|13. INSIGHTS INTO THE UNIVERSE OF WORLD-CLASS MULTINATIONAL ENTERPRISES: A CROSS-SECTORAL FOCUS
|Author(s): Rozalia Kicsi, Denisa Chifan
|Abstract: As the business environment has undergone profound changes over the past decades, international expansion has become a strategic imperative for companies seeking to ensure sustainable competitive advantage. This paper aims to explore patterns of sectoral coverage and expansion of the most cross-border oriented companies globally, listed by UNCTAD in the Top 100 MNEs operating in non-financial sectors, according to their technological profile. In the first phase, we employed a descriptive analysis to reveal some stylized facts from the comparative analysis of indicators capturing the intensity of operations conducted abroad by the companies listed in the selected samples in 1990 and 2021. Subsequently, we developed a three-dimensional model that integrates three of the indicators developed by UNCTAD, namely the share of foreign assets in total assets, the share of foreign sales in total sales and the transnationality index; this model groups the top companies into four categories of players. The results in 2021 compared to 1990 suggest an increase in foreign operations and a more notable presence of companies in the high-tech and medium-tech sectors, not only in the overall top, but also in the class of leading players. The results, despite the inherent limitations of the study, have both theoretical and managerial implications.
|Keywords: Internationalization; Multinational Enterprises; Strategy; Technology.
|14. THE INFLUENCE OF FOREIGN ECONOMIC FACTORS ON THE PERFORMANCE OF TOUR OPERATORS IN ROMANIA
|Author(s): Angelica Buboi (danaila), Cristina Gabriela Cosmulese
|Abstract: The article aims to identify models for assessing the performance of companies operating under CAEN code 7911: Activities of tourist agencies, under the influence of multiple crises, in the period 2012-2021. To this end, the top 110 companies for each CAEN code were selected for analysis through the top companies' platform. In the data collection process, the value of the turnover indicator was taken into account. Following the data processing, an econometric model was developed based on multiple linear regression. The results of the research reveal that the greatest influence on turnover during the period analysed was exerted by the variables ROA, average number of employees and overall liquidity, demonstrating the importance of employees and the efficient use of financial resources in times of crisis. Moreover, the results suggest that the least influence is given by receivables and debts, because in such periods travel agencies and restaurants prefer immediate receipts to be able to meet expenses without increasing the value of debts in an unstable economic environment.
|Keywords: Tour Operator; Turnover; General Liquidity; Financial Performance; Overlapping Crises.
|15. RECONSIDERING THE ECONOMIC VALUE ADDED ASSESSMENT METHOD IN THE PRACTICE OF SUSTAINABILITY ORIENTED BUSINESS ORGANIZATIONS - A BIBLIOMETRIC RESEARCH
|Author(s): Mihaela Ionela Socoliuc
|Abstract: Success in business depends on the quality of the methods and techniques used to measure performance and the ability of managers to manage the internal conditions and results of a company. The research aims to identify new research niches on the use of 'economic value added' (EVA) method in company valuation. A systematic review of previous studies focused on the topic of "economic value added" was conducted through a meta-analysis, followed by a bibliometric study through VOSviewer software. The research revealed that while in 2016 the focus was on concepts such as economic value added, earnings, stock returns, then studies focused on concepts such as model, innovation, risk, investment, later towards economic growth, performance, management, sustainability, and from 2020, the studies focused on EVA have diversified to include concepts such as value, financial development, and circular economy, which reveals a widespread use of it in the conditions of the fourth wave economies. We believe that the study can be useful for company management to reconsider valuation methods and key indicators for measuring newly created value, but also for researchers who can extend their further research by considering EVA as an optimal valuation method in the context of reorienting business models towards sustainability.
|Keywords: Economic Value Added (EVA); Meta-analysis; Bibliometric Analysis; VOSviewer; Business Valuation; Circular Economy; Sustainability.
|16. KNOWLEDGE MANAGEMENT RESEARCH AGENDA IN THE POST-INDUSTRIAL SOCIETY: SOME INSIGHTS INTO ITS INTELLECTUAL AND CONCEPTUAL DEVELOPMENTS
|Author(s): Rozalia Kicsi, Aurel Burciu, Denisa Chifan, Beatrice Ipsalat, Iulia Burlac
|Abstract: As knowledge is increasingly valued as a core/critical asset for business organizations in the post-industrial society, there is a growing interest in integrating knowledge management solutions into corporate processes. Thus, these topics have also entered the horizon of theoretical/empirical reflection, leading to the shaping of a research area in search of its own identity and physiognomy. In this context, the aim of this paper is to map and explore, through a systematic approach, the intellectual and conceptual developments in the area of knowledge management employing scientometric techniques. Unlike other studies of this kind, bibliometric tools are used to systematically capture recent contributions/developments in this research area, as well as thematic developments across time frames, without focusing on the reporting and interpretation of scientometric indicators. Beyond the inherent limitations, our paper brings theoretical implications in terms of mapping thematic developments and revealing new research niches. In addition, the analysis of the most relevant scientific contributions entails managerial implications for business organizations in terms of the solutions they may provide.
|Keywords: Knowledge; Knowledge Management; Science Mapping; Bibliometric Research; Systematic Review.
|17. THE INTERDEPENDENCE BETWEEN INFORMATION TECHNOLOGY AND THE DIGITAL ECONOMY
|Author(s): Victor Cojocaru, Marian Socoliuc, Galina Badicu
|Abstract: The paper contributes to the current state of knowledge by providing the reader with evidence of how information technologies are influencing the development of digital data flows and how their increasing role and global exposure is influencing the digital economy. The research aims to link information technology and the digital economy to understand how they are interrelated. The realisation of the work implicitly involves the combined application of a number of research techniques and procedures, through which researchers seek to draw conclusions built on previous research and to complement it with their own experiences and results, formulating a final conclusion on the topic to be researched.
|Keywords: Digital Economy; Information Technology; Interdependence; Republic Of Moldova; Romania
|18. THE EFFECTS OF COVID 19, THE ENERGY CRISIS AND THE RUSSIAN-UKRAINEAN WAR ON THE REAL ESTATE MARKET IN ROMANIA
|Author(s): Elena Hlaciuc
|Abstract: The outbreak of the COVID-19 pandemic has dealt a heavy blow to global economic and social development, and the Russian invasion of Ukraine in 2022 has returned Europe to a state of unprecedented economic uncertainty. The aim of this research is to assess the repercussions of the crises resulting from the COVID-19 pandemic, the energy crisis and the war in Ukraine on the real estate market in the North-East of Romania. In order to achieve the aim of the research, we adopted an interdisciplinary approach, which allowed us to combine elements from the social sciences, including accounting and statistical-mathematical methods. Sources of information include both relevant scientific literature on the topic under investigation, but also quantitative analysis based on data from the National Institute of Statistics. The results of the study revealed that the real estate sector did not react in the same way as other sectors of the national economy during periods of health, energy and military crises, but more than that, it also maintained itself in terms of demand and sales prices. These results can be explained by the fact that many families from Ukraine have relocated to the North-East region of Romania, practically fleeing the conflict zones in Ukraine.
|Keywords: The Real Estate Market In North-East Romania; Statistical Data; Real Estate Indicators; COVID-19 Pandemic; Energy Crisis; Russian Ukrainian War.
|19. THE SITUATION OF FIRMS IN FINANCIAL DIFFICULTY IN ROMANIA - A BRIEF INTROSPECTION
|Author(s): Ana - Maria Bores
|Abstract: In an increasingly complex and dynamic international economic environment, disruptive factors can inevitably arise and negatively influence the business of companies, which can incur significant financial losses. Early identification of the causes of these and the identification of the necessary corrective measures is thus becoming a pressing need for transnational and national bodies and for company management. Thus, the aim of this paper is to analyse companies in financial difficulty in Romania, in order to identify the causes that led to this situation, as well as to identify the corrective measures that are required. In order to achieve this aim, the research methodology chosen is a quantitative and dynamic analysis over the period 2018-2022, based on data provided by the National Trade Registry Office. The results reveal that the COVID 19 pandemic has hit the national economy hard, along with the energy crisis and the military conflict in Ukraine, these factors leading to an increase in entities in financial distress or bankruptcy. The results can be useful to the state, which needs to undertake national policies to combat the effects of the crisis that has also affected Romania, to investors, who can inform themselves about their investments, and to management, which needs to take the necessary corrective measures.
|Keywords: Financial Difficulty; Bankruptcy; Economic Crisis; Dynamic Analysis.
|20. ANALYSIS OF FORMS OF EXOGENOUS FINANCING ACCESSED BY ROMANIAN COMPANIES
|Author(s): Anisoara Apetri
|Abstract: Access to funding sources is becoming increasingly difficult as companies seek to identify and choose the most advantageous financing options in the midst of multiple crises. This paper focuses on the importance of exogenous financing sources and the role of the financial system in ensuring long-term economic growth. Following the scientific research carried out, it was found that the main source of exogenous financing for Romanian firms is bank credit. As for leasing, it has developed a lot recently, ranking second after bank loans in the top preferences of Romanian firms. In the context of the globalisation of the world economy and the development of capital markets, exogenous financing through factoring operations is another financing method preferred by more and more firms.
|Keywords: Exogenous Financing; Bank Credit; Binding Credit; Factoring; Multiple Crises.
|21. STUDENTS PERCEPTION OF THE IMPORTANCE OF REWARDS IN PROFESSIONAL MOTIVATION
|Author(s): Irina - Stefana Cibotariu
|Abstract: This study delves into understanding how students perceive the role of rewards in motivating their career choices. It employs a comprehensive approach, examining both financial and non-financial incentives, by conducting a survey using specifically designed student questionnaires. The analysis of the collected data is carried out using an advanced multiple econometric model. This method allows for a nuanced exploration of the relationship between various types of rewards and the career motivation of students. The findings of this research are significant, as they shed light on the intricate array of motivational factors that influence young individuals' career decisions. This research offers valuable insights for both employers and educators, aiding them in better understanding and supporting the career development of young people.
|Keywords: Financial Rewards; Human Resources; Motivation; Non-financial Rewards; Survey.
|22. ACCOUNTING FRAUD - A BIBLIOMETRIC ANALYSIS
|Author(s): Alexandru Anichiti
|Abstract: Accounting fraud is a big problem globally. Countries lose significant amounts of tax money because companies do no show their real profits and investors lose significant amounts of money when companies overstate their financials. New technologies, such as machine learning, artificial intelligence (AI), blockchain and the automation of the accounting process will help governments to prevent and discover accounting fraud more easily. This study is a bibliometric analysis on accounting fraud that can offer insights into how accounting fraud is perceived globally, what countries take it more seriously, and how could accounting fraud be prevented or more easily discovered when it occurs.
|Keywords: Accounting Fraud; Bibliometric Analysis, Fraud Detection; Economic Crime; Financial Records.