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THE FINANCING ACTIVITY OF THE EUROPEAN INVESTMENT BANK BEFORE AND AFTER THE CORONAVIRUS PANDEMIC
Abstract. EIB financing activity is a key driver of economic and social development in Europe and beyond. By supporting infrastructure, innovation, sustainability and social cohesion projects, the EIB contributes to creating a more resilient, competitive and sustainable economy with the objectives of stimulating economic growth, reducing regional disparities, supporting SMEs and promoting the green and digital transition. This article aims to analyze the evolution of EIB financing in two distinct periods: 2015-2019 (pre-pandemic) and 2020-2022 (post-pandemic), examining the allocation of resources by economic sectors and geographical regions. -
UNDERSTANDING CONSUMER BEHAVIOUR IN A DIGITAL AGE
Abstract: Consumers are changing the ways they use digital platforms at lightning speed. To benefit, companies must take a refined look below the surface to understand who is doing what. In recent decades, the Internet, evolving technologies, and social media have led to the evolution of consumer behaviour. The changes in customer behaviour driven by digital developments provide many opportunities and challenges that businesses also need to deal with online. The better companies know about the behaviour of their customers, the easier they can engage with them using different strategies marketing. In this article, I will explore the concept of consumer behaviour, examine how it has changed in the digital era, and discuss strategies for businesses to align themselves with these shifting trends. -
AN ASSESSMENT OF THE IMPACT OF NATURAL RESOURCE RENT, FINANCIAL DEVELOPMENT AND URBANIZATION ON CARBON DIOXIDE EMISSIONS: THE CASE OF TÜRKIYE AND SOUTH AFRICA
Aziza Hashi KORKMAZ; Ayhan KAPUSUZOGLU; Nildag Basak CEYLAN2023Türkiye and South Africa are the most globalized, urbanized and the most carbonintensive economy in the emerging economies. In this direction, this study examines an assessment of the impact of natural resource rent, financial development, and urbanization on carbon dioxide emissions in South Africa and Türkiye. For the period 1990-2021, we have implemented an AutoRegressive Distributed Latency (ARDL). The ARDL cointegration test result shows the existence of a long-term relationship between the variables. The granger causality test indicates that there is a bi directional relationship between carbon dioxide emissions and natural gas rents, financial development and natural gas rent and urbanization and natural gas rent. In addition to, this VAR Granger Causality/Block Exogeneity Wald Tests shows that there is a link between carbon dioxide emissions and financial development. -
THE ACCOUNTING, AUDITING AND TAX CONSULTANCY SERVICES MARKET IN ROMANIA
Claudia BURTESCU; Marian TAICU2023The accounting, auditing and tax advisory services market in Romania has seen a continuous expansion in recent years as the domestic economy and capital market have developed. To have an image regarding the evolution of this market in Romania. We analyzed the data from the period 2008-2021. The main players are the large, internationally known firms, though the small firms take up a good part of the market. This paper includes an analysis of the factors that determine the success of the two categories of competitors in this market. -
A REVIEW ON THE RELATIONSHIPS AMONG ADAPTIVE MARKETS HYPOTHESIS, THE EFFICIENT MARKETS HYPOTHESIS AND BEHAVIOURAL FINANCE
Kubra SARITEPECI; Ayhan KAPUSUZOGLU; Nildag Basak CEYLAN2023The Efficient Markets Hypothesis (EMH), which has had a significant impact on the field of finance since its development, has triggered many subsequent researches and some of the researches have brought a critical view to the Hypothesis. Two important alternatives have been put forward to overcome the criticisms and observed deficiencies of the EMH: Behavioural Finance and Adaptive Markets Hypothesis. Although various studies have been conducted to examine the relationship between these two approaches and the EMH, not much research has been conducted to examine their relationship with each other. In this study, the relationship between the Behavioural Finance approach and the Adaptive Markets Hypothesis, their similarities and differences are examined and it is aimed to complete this perspective that is felt to be lacking in the literature. The current study aims to cross-examine the hypotheses (EMH- Behavioural Finance, EMH- AMH), which are related to each other and try to answer the deficiencies seen separately, and in this way, it reveals that theories that are alternative to each other can also complement each other at various points and thus, when evaluated together, more effective evaluations can be made in the field of finance. -
THE IMPORTANCE OF CORPORATE GOVERNANCE IN THE BANKING SYSTEM
Corporate governance plays an essential role in the stability and efficiency of the banking sector, ensuring transparency, risk management and protection of stakeholders' interests. This article analyzes the importance of corporate governance in banks, with a focus on international regulations and particularities in Romania and Europe. It highlights the benefits of effective governance, such as increased financial stability and improved economic performance, but also the risks of weak governance, such as loss of trust and vulnerability of banking institutions. It also outlines mechanisms for improving governance, including transparency, internal control and ESG integration. -
TOURIST DESTINATION GOVERNANCE AND THE STATE'S ROLE IN DESTINATION DEVELOPMENT
Smaranda TOMA; Daniela MIHAI2023Tourism must be integrated into the unitary functional system of the economy. In a macroeconomic sense, organizing tourism activity implies the existence of an adequate framework, a sequence and connection of the components of this field of activity, so that they function optimally, as true engines of tourism. The government shapes the economic climate for the tourism industry, helps ensure the infrastructure and educational requirements for tourism, sets the legislation under which tourism operators operate and takes an active role in promotion and marketing. Every government must have a tourism policy at both national and local levels. Therefore, the state plays an essential role in tourism, providing the general legislative framework within the tourism industry operates, directly intervening in many aspects of the tourism system. -
CONTROL OF THE USE OF COMMUNITY FUNDS
Abstract. The purpose of the work is to present the control activity carried out by the competent bodies regarding funds of community origin, regardless of the priority axis and the main objectives pursued within it. On the other hand, emphasis is placed on the fight against irregularities and fraud that may occur in the practical use of these categories of funds. In the framework of the research carried out, it was aimed both to highlight the basic objectives of the control activity in the mentioned direction, but also the correlation that is established between these objectives and the effective achievement of the priority objectives established as a result of obtaining financing and co-financing from community funds. -
ANALYZING THE REGIONAL DISPARITIES IN ROMANIA USING THE GINI INDEX AND THE LORENZ CURVE
Tiberiu Cristian AVRAMESCU2023Abstract: Inequality has recently become a topic generating increased interest both in political debates and in the academic environment. The issue of regional inequalities is systematically approached by specialists to provide the decision-makers with data and relevant information about the trends in this field, the elements that influence the level and evolution of disparities and to facilitate the evaluation of the effectiveness of the development strategies. The Gini index is one of the standard methods used in empirical research to analyze the territorial inequalities. Initially used to highlight the inequality of people's incomes, it has become more and more used in the field of spatial analyses. -
BUCHAREST STOCK EXCHANGE INDICES
Abstract: The paper aims to present aspects regarding stock indices on the national capital market (Bucharest Stock Exchange, BVB). The pages of this article contain information on the importance of stock indices, the ways of forming the twelve stock indices, as well as the impact of the COVID-19 pandemic and the war in Ukraine on their evolution. -
USING THE BALANCED SCORECARD FOR THE PERFORMANCE MANAGEMENT OF STATE UNIVERSITIES IN ROMANIA
Marian TAICU; Claudia BURTESCU2023Performance is a widely debated concept in the literature, especially in the field of business. The performance of a public institution in general, and of an educational institution in particular, is much more difficult to quantify, mainly because of the specifics of the activity and the form of funding. Simply measuring performance is not enough to improve it, and the need arises to implement a performance management system. The Balanced Scorecard is widely used in Romania and has been implemented over the last two decades in both public institutions and companies. This paper aims to propose a Balanced Scorecard for the performance management of state universities in Romania. -
TAX TREATMENT OF MOBILITY ALLOWANCES
Marcela BENGESCU2023The purpose of this paper is to clarify is to clarify the transposition into practice of the aspects related to the application of the legal provisions regulating the tax treatment of the additional benefits granted according to the mobility clause. There are two categories of employees who benefit from additional benefits according to the mobility clause: the first category refers to drivers who carry out road transport activities according to Government Decision no. 38/2008 and the second category includes other mobile employees. In this paper, we will present the fiscal treatment of the additional benefits granted according to the mobility clause, in compliance with the provisions related to income tax of the nature of salaries and mandatory social contributions. -
ANALYSIS OF THE PERFORMANCE OF THE ROMANIAN FOOD INDUSTRY
Marian TAICU2024The food industry is among the oldest industrial branches and is of particular importance for the national economy due to the role it plays in ensuring the food security of the population. The food industry in Romania is characterized by diversity and a large number of economic agents. After integration into the European Union, the food industry in Romania has experienced a series of transformations imposed on the one hand by the high level of competition and on the other hand by strict regulations in the field. The paper aims to present an overview of the food industry in Romania and the analysis of the main indicators that reflect its performance. -
THE IMPACT OF ESG ON THE FINANCIAL PERFORMANCE OF IT COMPANIES
The digital economy is transforming the IT industry into a key driver of global sustainability, and the integration of ESG (Environmental, Social, Governance) criteria is becoming essential. This paper analyses the mechanisms through which ESG influences the financial performance of IT companies, demonstrating that strategies such as reducing energy consumption, promoting diversity and ethical governance contribute to increased profitability and financial stability. The results indicate a positive correlation between ESG scores and financial indicators of companies in this sector. -
CROSS-BORDER CHALANGES OF FINANCIAL CONTROL: AN INTERNATIONAL PERSPECTIVE
Mihaela-Iuliana DUMITRU; Diana Elena BRINZA2024The article explores the complexities and evolving dynamics of financial control in a globalized economic environment. It highlights how differences in regulatory frameworks, cultural approaches, and technological adoption across countries create significant obstacles for effective cross-border financial management. The study examines the impact of international regulations such as Basel III, IFRS, and EU directives on harmonizing financial control practices while addressing the challenges posed by jurisdictional inconsistencies and enforcement disparities. Additionally, the paper analyzes the role of advanced technologies, including artificial intelligence and blockchain, in overcoming these challenges by fostering transparency, real-time monitoring, and efficient cross-border coordination. Through a case study approach and a practical survey, the article provides insights into how multinational organizations navigate risks such as tax evasion, money laundering, and compliance gaps.In conclusion, the study emphasizes the need for enhanced international collaboration, standardized regulatory frameworks, and strategic integration of technology to improve the effectiveness of cross-border financial control. The findings offer valuable recommendations for policymakers, financial institutions, and corporate managers to address the growing complexity of financial oversight in an increasingly interconnected world. -
ANALYSIS OF THE EFFECT OF MONETARY POLICIES ON POSTPANDEMIC GLOBAL INFLATION
Florentina Cristina BÂLDAN; Marinela BARBULESCU; Alina HAGIU2024The COVID-19 pandemic brought unprecedented changes to the global economy, forcing central banks to adopt expansionary monetary policies to counter recession. However, these measures, together with disruptions in supply chains and rising demand, contributed to the acceleration of post-pandemic inflation. This article analyzes the effect of monetary policies on global inflation, comparing responses in developed and emerging economies, and proposes recommendations for sustainable inflation management. -
TRANSFORMING FINANCIAL CONTROL THROUGH ARTIFICIAL INTELLIGENCE: A MODERN APPROACH TO FINANCIAL OVERSIGHT AND ANALYSIS
Mihaela-Iuliana DUMITRU, Consuela DICU2024This study explores how artificial intelligence (AI) can revolutionize financial control, offering a modern approach to financial oversight and analysis. The use of AI in financial control enables the automation of repetitive processes, increases efficiency, and reduces human errors. The study highlights the benefits of employing advanced technologies, such as machine learning and predictive analytics, to improve the accuracy and speed with which financial risks and business opportunities are identified. It also discusses how AI can provide greater transparency and support strategic decision-making by delivering real-time financial insights. In conclusion, the study emphasizes the importance of adopting artificial intelligence to optimize financial control processes and enable more efficient and informed management of financial resources. -
ANALYSIS OF CIRCULAR ECONOMY IMPLEMENTATION IN THE TEXTILE SECTOR AND ITS IMPACT ON ECONOMIC AND ENVIRONMENTAL SUSTAINABILITY
Raquel Mercedes GARCÍA REVILLA; Alina HAGIU2024The circular economy is a sustainable alternative to the traditional linear model, especially in sectors with high environmental impacts such as the textile industry. This article analyzes the implementation of circular economy principles in the textile sector, assessing the associated benefits and challenges. By reducing waste, reusing materials and recycling fibers, the textile sector can make a significant contribution to conserving natural resources, reducing carbon emissions and improving economic efficiency. The study proposes practical recommendations for fully integrating the circular economy into the sector and highlights its impact on economic and environmental sustainability. -
PROFESSIONALISM AND INTEGRITY FUNDAMENTAL ELEMENTS OF ETHICS IN THE ACCOUNTING PROFESSION
Ruxandra GRIGORESCU; Petronela Alice GRIGORESCU2024This article aims to highlight the criteria of ethics in the accounting profession, the way in which they influence the attitude and results of the professional accountant. Ethics is the foundation of the attitude that results in the professional performance of accountants, the way they relate to the profession they practice and how they meet the highest standards of professionalism and performance, and on the other hand, to satisfy the requirements of the public interest. Achieving the objectives requires the fulfillment of some basic requirements: credibility, professionalism, service quality and trust. -
THE IMPACT OF BEHAVIORAL FINANCE ON INVESTMENT DECISIONS
The concept of a rational investor is defined as the fact that investing individuals act based on a more fixed and straightforward idea. There are experts in the field of psychology who conduct detailed research on this subject by examining the behavior of individuals investing in Traditional Finance Theories. As a result of psychologists' studies, it is revealed that individuals who invest have personal biases and tendencies in their investment decisions. In this study, the relationship between behavioral finance and the biases of investing individuals in their investment decisions was reviewed. -
PARTICIPATION BANKING AND INTEREST-FREE INVESTMENT INSTRUMENTS IN TÜRKIYE
Mehmet Emin TASYUREK; Nildag BASAK CEYLAN; Ayhan KAPUSUZOGLU2024In this study, the basic operating principles of participation banks, which have been operating in our country for more than thirty years and have been increasing their market share day by day, their fundamental and procedural differences from other banks, and the system that constitutes the investment processes of institutional and individual investors who cannot or do not want to utilise their savings in banking and capital market products and instruments due to interest sensitivity have been reviewed. -
AN ECONOMIC ANALYSIS OF THE ROMANIAN VINE AND WINE SECTOR
Maria Daniela BONDOC, Marian TAICU -
THE RELATIONSHIP BETWEEN COSTS AND PERFORMANCE IN THE ROMANIAN FREIGHT TRANSPORT BY ROAD SECTOR
The performance and costs of economic entities are widely debated topics in economic literature and practice. Controlling costs is the key to achieving the company's financial performance. The transport sector is vital for the economic development of any country. The issue of costs and the assessment of performance in this sector presents a series of specific characteristics that will be discussed in this paper. The paper contains an analysis of the main indicators reflecting the activity of enterprises operating in the freight transport by road sector in Romania and other former socialist countries, actually European Union members. -
NEUROSCIENCE INTEGRATION IN MARKETING: LEVERAGING BIOSENSORS FOR CONSUMER INSIGHTS AND ENHANCED CUSTOMER INTERACTIONS
This research investigates the potential contributions of neuroscience literature and techniques to marketing management, employing biosensors such as eye-tracking glasses, facial expression analysis, and galvanic skin response (GSR). By leveraging neuroscientific methods to understand consumer reactions to marketing stimuli, marketers can glean valuable insights to enhance their marketing strategies and optimize customer interactions. The study use a qualitative analysis and aims to bridge the gap between consumer neuroscience and traditional marketing practices, utilizing neuromarketing tools to decipher customer behavior. -
ECONOMIC CONSIDERATIONS ON THE POSTAL AND COURIER SECTOR IN ROMANIA
The analysis conducted in this paper covers the period 2019-2021 aiming to highlight the impact of the global crisis resulting from the Covid-19 pandemic and affecting postal and courier services in Romania. This is one of the sectors that, especially thanks to e-commerce, has seen increases in its activity. Particular details of the post and courier sector are presented, as well as its dynamics during the analyzed period, regarding the number of active companies, turnover, number of employees, and productivity. The main competitors in the sector (Top 10) are highlighted, which are ranked according to the turnover in the year 2021, and as far as the Romanian National Postal Company is concerned, which occupies the first position in this ranking or hierarchy, the main economic and financial performance indicators are presented. The analysis clearly shows a strong concentration of the sector, with the top 10 companies that provide postal and courier services securing nearly 70% of the total turnover of the sector in 2021.
ISSN print: 1583-1809
ISSN online: 2344-4908
Nr.2/2025
SCIENTIFIC BULLETIN - ECONOMIC SCIENCES
Copyright ©2025, All rights reserved
A project developed by Enformation
THE EFFECTIVENESS OF TIGHT MONETARY POLICIES IN REDUCING OVERALL INFLATION
RESEARCH ON DIGITAL DIVIDE AND EDUCATIONAL EQUITY: A BIBLIOMETRIC PERSPECTIVE
NUDGE THEORY AND ITS APPLICATION IN PUBLIC ECONOMIC POLICIES: A BEHAVIORAL ECONOMICS PERSPECTIVE
EDUCATION IN ROMANIA TODAY: BETWEEN REFORM PROMISES AND SYSTEMIC STRUGGLES
