Search

Development and innovation in the digital technologies impact the whole society, communications, finances, trade, education and health services, business patterns and the entire value-added channel.

The paper examines the recent developments in the high-technology manufacturing sectors in the EU28 countries, focusing on the β-convergence of gross value added in the Manufacture of computers, electronic, and optical products, and the Manufacture of basic pharmaceutical products and pharmaceutical preparations. We employ two dynamic panel models estimated using the system of generalized method of moments (GMM) to address the risk of an endogeneity bias. The panel data analysis indicates a higher convergence for the Manufacture of computer, electronic, and optical products at 16.4% compared to 2.2% for the Manufacture of basic pharmaceutical products and pharmaceutical preparations, which is consistent with the existence of fewer barriers and higher exposure to competition in the case of the first analyzed sector. In the context of the role of the high-technology manufacturing industries as an engine of growth and the existing performance differences between the EU28 countries in terms of gross value added in the analyzed sectors, we investigated the β-convergence for two groupings EU15 and the new EU member states. We found that the new EU member states display a higher β-convergence rate than EU15, but also that they have a lower capital intensity. The result highlights the potential risk of some of the new EU member states becoming laggers in terms of the underlying factors behind gross value added as investment and labour force. [ABSTRACT FROM AUTHOR]

The knowledge economy, innovation and human capital are three topics frequently present in the literature in the last decades. Romania, as a member state of the European Union, has aligned itself with the objectives of 2020 Strategy of building a knowledge -- based society in which human capital and innovation plays a determinant role. The construction of this society implies, in the opinion of many specialists the increasing attention to the development of human capital, especially the one integrated in the creative activities (research-development-innovation), often the analyzes are channeling itself on an aspect of this societies, called by some the new economy or the informational economy. The paper is looking to decipher the extent to which Romania has aligned itself with the global and European trends in the construction of the knowledge economy and the role that human capital and innovation has in developing this economy. Over more, given the importance of human capital and innovation, the work tries to highlight the link between the indicators of the knowledge economy and the human capital and innovation in Romania and the extent to which their evolution contributes to the increase of welfare through the increase of knowledge, using the appropriate techniques for this purpose. [ABSTRACT FROM AUTHOR]

This paper is focused on the relation between human capital and regional economic development in Romania, in order to highlight the effect of human capital on economic development at regional level. Using Eurostat data from 2000-2014, in a panel model, Pooled Last Squared with cross fixed effects and cross section fixed dummy variable, we show a positive and statistically significant correlation between GDP growth at macro regional level and human capital expressed as the R&D effort at national level, and the workforce employed in research activities as theoretically expected. From the positive values of the coefficients within the model we conclude that the developed macro regions enjoy a high level of returns, while investing in human capital. [ABSTRACT FROM AUTHOR]

The goal of the Europe 2020 strategy: smart, sustainable awl inclusive growth would be achieved by using human capital and its abilities to innovate, to diffuse knowledge in manufacturing services, to develop creative industries and by making a great effort to create a research-intensive economy The present paper highlights the impact of human capital on innovation and economic growth hated on an econometric model. In our paper using annual data during 2000-2015. from UNESCO and Eurostat we prove a positive influence of human capital (expressed as gross enrolment in secondary school and the average personnel costs per employee in the Knowledge-intensive high-technology- services) and innovation (expressed by patent application) on economic growth and productivity. [ABSTRACT FROM AUTHOR]

The competitiveness is the engine of development and welfare's countries. The human capital has an important role in the construction of the competitive and sustainable economy. This paper is focus on human capital and tray to show how the human capital, as an important factor economic growth, can contribute to the competitiveness of the economy. Bontis (1999, cited by Bontis at all, 2000, p. 89) "argues that human capital is important because it is a source of innovation and strategic renewal". G. Becker higlight on his work that: "many workers increased their productivity by learning new skills and perfecting old ones while on the job " (Becker, 1962, pll.) He consider that the training „has an important effect on the relation between earning and age" (Becker, 1962, pi5.) and „could raise the new employee's productivity but would require additional expenditures by the firms " (Becker, 1962, pl9), expenditure links with the training process. The relation between competitiveness and human capital is analyzing in relation with the innovation and R&D process (W. J. Baumol, 2002) or as factor of the increasing the competitiveness (factor al cre§terii economice (Riley, 2012), or as factor of competitiveness increased (Russu, 2012, Kagochi and Jolly, 2010, Bontis at all, 2000). This paper is focus on relation between human capital and competitiveness based on the different technics trains to highlight the role of human capital in increasing the countries competitiveness ". [ABSTRACT FROM AUTHOR]

Our paper provides a critical assemblage of the errors comprised in earnings management detection area of research. In this respect, the aim of this study is to identify the main limitations documented in the arena of the earnings management detection process. Our analysis included the assessment of the papers published in the most popular 5 accounting journals, on the last five years. The results obtained seems to confirm what most researchers publishing in earnings management are documenting: i.e. despite the fact that current research designs used in detection of earnings management are frequently used, important and significant errors appears. Potential solutions and future research directions are also discussed. [ABSTRACT FROM AUTHOR]

There is a large literature regarding the measurement of competitiveness, the more recent ones focusing on the external sustainable competitiveness. This is done in the context of major changes registered in the human society due to climate changes, the limits of resources, the globalization of the economy and the economic-financial crisis. The measurement of the external competitiveness is a process intrinsically connected with the concept of competitiveness, a concept which proves to be difficult to formulate in a unitary perspective due to its complexity and the large array of factors which influence it. In this context, the paper focuses on the methodology of the European Union and of the World Economic Forum regarding the sustainable competitiveness underlying the advantages and limits of using a composed index versus a price measurement using the real exchange rate. The composed indexes offer a picture of the past competitiveness and the price measurement facilitate the long term projection of competitiveness. In this context, the paper suggests an answer regarding the possibility of using both of the techniques to connect the information regarding the past competitiveness with the future competitiveness reflected by the price evolution. The connection is reflected by the coherency between the two measurements but also by the structure of the indicators constructed. The paper suggests a hypothesis that this structure offers valuable information on how the connection between the two measurements can be done in a coherent way. [ABSTRACT FROM AUTHOR]

The paper analyzes the evolution of the exchange rate in Romania during the financial crisis in order to offer some information regarding how the exchange rates react in the presence of some socks. We used a Vector autoregressive technics and impulse function and the conclusion is that in the case of It is observed that an unexpected shock in the interbank operations and aggregate supply leads to a slight increase of 0.2% in the exchange rate leu / euro and a shock in the foreign exchange market trading volume may lead to a negative shock in the exchange rate leu / euro, with a continuing influence of 6 months before returning to the previous situation before the shock. The exchange rate channel is an important tool in taking shocks in national and international economy and the loss of this channel by fixing the exchange rate of the European currency would make it difficult to accept such shocks to the labor market and goods market. [ABSTRACT FROM AUTHOR]

This paper studies the rigidity of the labour market in the context of accession to the Economic and Monetary Union, moment after which Romania will not be able to use the exchange rate as an adjustment instrument in front of economic shocks. Since 2001 government policies have reduced the institutional rigidity of the labour market: the government intervention has decreased and the negotiation of employment contracts has moved from national to industry or company level, making it easier for the companies to adjust wages and withstand shocks. The empirical analysis, based on a multiple linear regression, shows that wages are in connection with macroeconomic variables such as inflation, GDP and non-wage costs. Union power in wage negotiations is highlighted by the positive relationship between the average wage and the minimum wage. [ABSTRACT FROM AUTHOR]

Nowadays, businesses face new demands in their rush of generating profit. Performance management indicators received new values and they are part of everyday business. In the meantime natural resources are on a decreasing pattern unless new unconventional resources start to be discovered and used. Societies are also confronted with ethical and moral crisis. At the intersection of the Environment, Economic and Social fields, the concept of Sustainable Development becomes more and more powerful. To make informed decisions about performance management in a sustainability manner, organizations have to understand that economy, social and environment must co-exist in harmony on long term. To make this almost new paradigm viable, the environmental perspective must be taken into account rapidly. In this context, the winners appear to be those who succeed to develop sustainable processes for the future. Less is more seems to be the new model. Are leaders prepared for the new approach? Do they have to develop new skills and competences? Is there a need for a new type of leader? The Eco- Leader? This is the question on which we will develop in this paper a new concept for a new type of leader. [ABSTRACT FROM AUTHOR]