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In the present era, women are recognized as successful entrepreneurs through their strong desire, qualities and capabilities for robust economic development. Due to such an important contribution of women in economic development, we propose to investigate the factors, which affect women entrepreneur’s success in Pakistan. Data collected through structured questionnaires from 181 registered SMEs operating in Pakistan. A conceptual model is developed, while SPSS and AMOS software’s are used for analysis. The results indicate that the internal factors; including the need for achievements, risk-taking and self-confidence and external factors including economic factors and socio-cultural factors have a positive and significant influence on the success of women-owned enterprises. This research recommends Small and Medium Enterprises Development Authority (SMEDA), policymakers and practitioners to encourage women entrepreneurs to run their businesses for the long term by providing a variety of incentives and supports related to those internal and external factors. Numerous studies have been conducted to test the different factors’ effects on women's entrepreneurial success, but our study investigated some psychological, cultural and religious factors that are still almost untouched especially in Pakistan. The current study also contributes to the existing literature through empirical shreds of evidence.

The main purpose of this paper is to investigate factors that influence taxpayers to engage in tax evasion. The researcher used descriptive and explanatory research design and followed a quantitative research approach. To undertake this study, primary and secondary data has been utilized. From the target population of 4979, by using a stratified and simple random sampling technique, 370 respondents were selected. To verify the data quality, the exploratory factor analysis (EFA) was conducted for each variable measurements. After factor analysis has been done, the data were analyzed by using Pearson correlation and multiple regression analysis. The finding of the study revealed that the relationship between the study independent variables with the dependent variable was positive and statistically significant. The regression analysis also indicates that tax fairness, tax knowledge, and moral obligation significantly influence taxpayers to engage in tax evasion, and the remaining moral obligation and subjective norms were not statistically significant to influence taxpayers to engage in tax evasion.

The authors, based on the study, wanted to highlight the evolution of tourism in our country. The data used in the calculation are for the first semester of 2020, as well as from June 2020. The data are interpreted in the dynamic evolution from one month to another, but also, by comparative study, with the same period from 2019 or June of the previous year. Due to the economic and financial crisis, based on the study, based on data published by the National Institute of Statistics and Eurostat regarding Romania, there is clearly an enormous loss in tourism in our country, in the HoReCa system, as well as in other fields. activity, as a result of the effects of the health crisis (COVID 19), which has recently been correlated with the effects of the economic and financial crisis. Based on the study, using statistical indicators specific to the tourism activity, it was revealed that in all these statistical quantities there are particularly large decreases. If until now tourism contributes, however with a not very large size, to the formation of the Gross Domestic Product, it is obvious that in 2020, the share that tourism will have in the formation of the result indicator Gross Domestic Product will be even lower. From the study carried out, certain conclusions can be drawn on how to act in order to successfully recover the tourism activity as a whole.

Migration is one of the defining characteristics of the 21st century. People are migrating to overcome poverty, escape conflicts or cope with economic and environmental shocks. Although the relationship between migration and development is increasingly recognized, it remains unexplored. Lack of opportunities and investment in countries of origin can lead to migration. Migration can also improve development and investment in countries of origin, fill workforce gaps and foster innovation in host countries, but also contribute to development in transit countries. It is an effective tool for reducing poverty, not only for the migrants themselves but also for their families and their wider communities. Through significant contributions to economic and social development, migration can be a key factor in achieving sustainable development goals. The 2030 Agenda is the first international framework that includes and recognizes migration as a dimension of development, which recognizes both the important contributions of migration to sustainable development and the specific vulnerabilities that migrants may face. The paper presents a brief analysis of the measure and structure of global migratory flows, as well as the relationship between migration and sustainable development in the 2030 Agenda and the impact of migration on key development outcomes.

Foreign direct investment (FDI) represents one of the ways to finance any economy. In this study I approached the theme trying to reveal the strucure and role of the foreign direct investment in Romania and also the impact on economic growt . Using interpretations, correlations and analytical methods I drew conclusions on the categories of foreign direct investment, net foreign investment flow, economic growth. I also analyzed the relationship between FDI and GDP as one of the main macroeconomic indicators of the result, highlighting the percentage and trends of FDI in GDP in Romania between 1990 and 2019. I concluded and revealed the directions where foreign direct investment is needed in Romania in order to have an economic growth and also to support a sustainable development of our country.

In this article, the authors aimed to establish the concrete econometric ways in which market risk can be determined and based on the calculated parameters can be estimated. This study starts from the concrete situation of the occurrence of market risk which is obvious in the conditions in which they appear disturbed from one period of time to another. Through the data available to them, the authors identified and highlighted the advantages of the quantification method, in fact the only method to establish in concrete terms a system of equations on the basis of which to obtain the parameters, which can then be used in estimating market developments in the context of risk. The article comprises a series of calculation relations, some data being introduced in these relations and established, then in equations to underlie the calculations performed. The article has a more theoretical character because it starts from the specialized literature and ensures the implementation of a generally valid method of quantification.

Climate change is a serious concern for the whole world. Based on these concerns, Europe aims to become the first climate-neutral continent by 2050. To achieve this, the European Union has set itself the goal of rapidly transforming the energy sector, so the European Commission has presented the European Green Agreement, which represents an ambitious package of measures for a sustainable ecological transition. In this paper we propose to analyze the importance of supporting investments in renewable energy for job creation in the member countries of the European Union. We will also identify how the European Investment Bank, through the European Investment Fund, has supported Member States in achieving the goal of increasing renewable energy consumption in 2015-2020.

“Valentine's Day”, celebrated on February 14, is one of the holidays obviously promoted worldwide and which generates an increasing volume of sales of products and services. Its expansion in the world is due to globalization and increased American and Western European influence in the world. It can be said that it is a world-class holiday, known in most countries of the world, but not as appreciated in all and without having the same tradition in all countries (in some countries it is taken up relatively recently). It is not known exactly who Saint Valentine is, remembered on February 14, but this aspect may matter less at present. It is noted that currently the holiday is popular primarily in English-speaking countries, but also in other countries (on several continents). Some countries had their own holidays, at least partially close in meaning to “Valentine's Day”, but they also adopted Valentine's Day. “Valentine's Day” is not accepted in all countries; there are countries or areas that have banned this holiday or in which its impact is insignificant. On the occasion of "Valentine's Day", specific aspects of buying and consuming behavior can be identified. Although there are differences between countries in this respect, similarities can also be found; for example, it can be said that it is the day of flowers and chocolate worldwide.

The article provides an overview of the current situation regarding environmental taxation in EU member states, and examines recent developments in their use. The tax system in the U.E. undergoes regular structural analyzes in order to improve and adapt to everchanging conditions and in line with the objectives and policies of the Member States. The article presents the current tax system, in order to highlight the advantages, it offers: stable and sufficient resources, but also the major existing disadvantages: a complete lack of visibility and reduced links with European Union policies. The examination of the tax structures according to the type of tax illustrates the relative importance of the different fiscal instruments used in increasing revenues and the distribution of autonomous financial resources between the constituent elements of the state apparatus, respectively the breakdown of taxes on consumption, labor and capital allows an assessment of how the tax burden is distributed between different factors. In addition, environmental taxes and property taxes are specifically examined, as they are subject to increased control.

EU environmental policies address a number of issues related to the use of the environment and resources, increasingly in line with the circular economy model. Ensuring the optimal functioning of the circular economy and the achievement of sustainable development goals requires, in addition to appropriate environmental protection policies, up-to-date legislation, but above all a well-developed taxation to enable these goals to be achieved. Thus, the article aims to highlight the latest trends in environmental taxation in Romania and at the level of some European Union countries, implicitly at the level of the EU27 average for the period 2008-2018. The results of the analysis show that there are many areas that need improvements in environmental taxes, both at the level of advanced EU countries and especially at the level of Romania. Thus, at the level of Romania, there is felt the need to introduce taxes in order to allow a better management of resources, but also environmental taxes to determine the dramatic reduction of air and water pollution.

This scientific endeavor, the issue of work polarisation according to the education level in the EU`s Member States is addressed. The theoretical aspect of the problem is reflected in this scientific endeavor through the scientists` contributions concerned with this field. Thus, several opinions and arguments are presented regarding the work polarisation, by highlighting education and lifelong learning on this phenomenon. In the paper, the work polarization depending on the education level is achieved according to the International Standards Classification of Occupations developed by the International Labor Organization. Methodologically, the work polarization in the European Union was analyzed based on statistical data provided by EUROSTAT, as well as provisions of the European Centre for the Development of Vocational Training.

Tourism, in the modern era, is an economic sector complex and dynamic. The tourism market is the space facing tourism supply and demand. Creating tourism offer, namely preparing programs for foreign tourists, is the operation that requires a permanent study in the tourist area for it to become attractive on content and, therefore, recoverable. Tourism is, by its content, a phenomenon characteristic of the modern era, being one of the major components of the economic and social life that polarizes the interest of a growing number of countries. Responsive to the transformations of the contemporary world, tourism is evolving under their incidence; its dynamics is integrated into the overall development process. In turn, through the vast human and material potential trained in its development, as well as through the beneficial effects on the areas with which they connect, tourism acts as a factor stimulating the economic and social progress.

Sustainable development has been the most claimed and debated subject of concern, for about three decades. The Sustainable Development Goals (SDGs) commitments of the Agenda 2030 flowed from a higher emergency, importance and priority of environmental, economic and social issues that have marked the entire world in the last years (financial and economic crisis, worsening effects of the global warming and climate change etc.). The objective of this research paper is a theoretical-methodological grounding and analysis of the objectives and policies required for the progress of the SDG (Sustainable Development Goals), in the transition to a greener and sustainable economy in the European Union and in Romania. The methodology is based on the analysis and highlighting of the most significant links and synergies that exist and act between the SDGs, stemming from the trinomial character of the sustainable development concept, with its (environmental, economic, social) pillars. Moreover, the inter-related and dynamic character of the SDGs is a topic of permanent concern for both the academics and the policy makers, since new international challenges or conflicts may always arise and jeopardise the prospects of sustainable development. There are some conceptual analyses based on literature review and practical examples on monitoring recent progress towards the SDGs in the European Union and in Romania.

The past months marked by the COVID-19 pandemic experiences proved to enterprises how important is their digitization, not only for improving their economic performance or accessing new digital markets but mostly for their future existence. The digitalization proved that it is no longer just an option. Managers, employers and employees, or even simple citizens understood that the digital revolution and digital technologies are already changing the interaction, communication, products and services consuming mode, our work, as a necessity. Anyway, in recent years, under a continuous change of market conditions, many organizations, specifically business, abandoned their traditional way of managing by adopting the new emerging Internet technologies and using information technologybased solutions. One of the first steps in transformation must be the usage of integrated software applications and integrated systems that combine the business management activities with digital technology, and whereby the various business processes (internal or external) are integrated into the computer system to achieve their specific business goals. Based on available data from the Eurostat online database, this paper aims to identify the groups of countries, European member states (excepting the United Kingdom), with similar (close) characteristics regarding the use of software solutions like Customer Relationship Management (CRM) in 2019 by conducting an agglomerative hierarchical cluster analysis. To classify the 27 countries into homogeneous groups in order to identify countries' disparities based on the clustering variables considered, was applied the hierarchical cluster procedure performed with IBM SPSS. In essence, the aim is to identify the relevant clusters, which assume the proximity (similarity) of countries regarding the CRM software-solutions usage by the enterprises as a part of the internal integration processes of their IT systems.

Brief presentation together with the personal evaluations of the authors of the most relevant works in the literature on the evolution of financial reporting, analysis and evaluation of performance as well as the most modern techniques for determining the performance of companies.

The operative knowledge of the evolutions related to the cost of production allows the management to take timely measures of correction and recovery, also allows establishing some medium and long term strategies, starting from the reports based on management accounting. Objectives can be set, material resources, human resources, technologies used in production, time resources needed for current operations can be better managed, and also can develop plans to improve the recent activity. The purpose of the paper is to analyze the possibility of applying the standard cost method in the managerial accounting of an entity operating in the public catering sector. The specifics of organizing the production in such an economic entity requires the identification of an efficient management accounting organizing method in controlling economic processes and supporting managerial decisions. The obtained results underline the fact that the standard-cost method determines advantages for the small economic entity analyzed, such as the anticipation of the costs of the programmed production; the expectation of scheduled production costs; the value of deviations from the standard cost, by cost categories and by product categories; efficient monthly control of the real cost of production, etc.

The COVID-19 pandemic, which is still in full swing, is a current challenge for all mankind, which has very severe social and economic consequences. Since the beginning of the pandemic, each state has acted to support its own economy. The most exposed economic sectors are: services, tourism and transport. The decrease of the domestic demand but also of the international demand for goods and services, caused by the spread of COVID-19, led to the decrease of the production, of the services offer. During 2020, the increase in the production price generated by the obstacles in the supply of raw materials, materials, etc. is estimated, but also, with pressures on sales prices, due to declining demand. However, businesses must find a way to survive, to grow sustainably in the medium term at least. Thus, they must find solutions that they can apply as soon as possible. These solutions are represented by the policies that organizations establish and implement. Enterprise policies are represented by a set of objectives set in the medium term, which refers to all activities of the enterprise or only to important components of the organization, together with: necessary resources, major actions to be taken, main managers and executors, sources of financing, completion deadlines, but also intermediate deadlines, efficiency indicators (global but also partial). The paper presents the influence of the COVID-19 pandemic on the economic environment, the need for sustainable business development, in this context but also the medium-term policies needed to be applied to overcome this global crisis.

Bioeconomy is one of the economic sectors to which significant attention is paid in the development strategies at EU level. This sector can be a key factor in reaching the strategic goals for climate change and sustainable consumption. This paper aims to create an overview of the Romania bioeconomy sector and to emphasize the development of the sector in relation with EU bioeconomy. To measure the development of the sector three relevant indicators were chosen: people employed in the sector, turnover and value added of the bioeconomy. The period selected for the study of the indicators was 2008-2017. The main findings of the research highlight that, at EU level, bioeconomy sector is continuously increasing for the selected period regarding all indicators. For Romania was observed a slight decrease of the indicators. Despite that Romania can be considered one of the most important European countries in the context of the people employed in bioeconomy. Agriculture was identified as the main industry in terms of people employed and value added for Romania.

Remittances - or money sent to the country by Romanians working abroad - are very difficult to measure accurately, there are situations in which they do not reach relatives through banks or fast transfer companies, but in envelopes by bus drivers, cash sent through friends or colleagues who return to the country or even more sophisticated procedures: Romanians make a card at a foreign bank, come with the card and leave it to a relative in the country, and the card is also supplied from abroad, without being taken national records [4]. Migration experts say that the level of remittances can be at most a proxy for the intention to return to the country of the sender of money. The remittance of substantial amounts can be associated with the hypothesis of building a house or the firm intention to return to Romania, while decreasing remittances can be associated with the reverse hypothesis [2]. In the current conditions in which the pandemic, which has become global, of COVID-19 has "upset" all national economies, which has led to massive layoffs, the closure of enterprises from the smallest to the largest we are witnessing a phenomenon unique after 1990, namely the massive return of Romanian emigrants[1]. In this context, we considered opportune an analysis of the impact of remittances of Romanian migrants on economic growth, remittances that will certainly be greatly diminished in the next period, or maybe even stopped.

Sustainable development is a widely used concept, the defining status of which was marked by the Brundtland Report in 1987 and the Earth Summit in 1992, following research in response to environmental degradation and economic and social problems. Over time, the concept of sustainable development has undergone many different stages and conceptual approaches, which have been the subject of many papers. On the other hand, confusion has arisen between sustainable development and sustainable economic growth, as well as debates about the definition and feasibility of these goals. The concept of sustainable economic growth has been linked to rising consumption levels, which have led to environmental pressures and called for greater efficiency in the management of finite resources. The aim of this paper is to examine and relate these two concepts, identifying causal links that stand out between them and more realistic approaches, anchored in today's reality and to help delineate the defining elements, so that decision makers act in the interest of the development of the whole society, by promoting some principles and establishing some strategies by reference to the relations and objectives imposed by the sustainable development and growth.

Although banks have always been one of the engines of economic development, in such moments - a pandemic that affects the physical health of the population and the financial health of the economies - this role appears even more clearly outlined. The aim of this paper is to present the main financial government programs made available by banks from an emerging country to support its small and medium enterprises (SMEs) during the Covid-19 pandemic. The research is based on a quantitative method. The paper demonstrates that the Romanian banking and financial system is using dedicated government programs in order to financially support SMEs to survive during the difficult period generated by the pandemic

Tourism products have sustainable characteristics as far as they target both ecological and social aspects. The recent COVID-19 virus has generated major changes in economic activities and in our daily life. Tourism is among the most affected economic sectors, the tourism activities registering a worrying decline. The World Health Organization and other official organisations have introduced specific prevention and control measures to be applied by the accommodation units. The article analyzes the main sanitary measures imposed by the official authorities, both national and international. At the same time, another objective of the article is the analysis of the plans in action introduced by the best-known hotel brands in their attempt to limit the effects produced by the virus and the resumption of the hotel activities. Also, the article presents the results of an analysis among the Romanian 5-star hotels from the most visited tourism destinations, respectively mountain and seaside destinations. The topic of the research aims the assessment of the information provided to their guests on the sanitary measures undertaken by the hotels management teams. The results obtained highlight an unexpected and also sad situation, as most of the analyzed Romanian hotels do not provide any information on this topic.

In the European space as well as in Romania, the sports betting industry is a regulated one and has a major impact, whether we are talking about an economic impact, or a social or psychological one. Our intention was to observe the impact that this industry has on sports and fans. The aim of this article was to present some of the results of a quantitative research based on a sample of subjects who frequent bookmakers. We wanted to observe their behavior as fans and see if we can identify a common profile of the Romanian bettor in his relations with society, family and sport or his favorite team and also to observe the economic impact of the sports betting industry on sport.

The typology of cryptocurrencies is a vast one and the existence of approximatively 1400 cryptocurrencies, besides tokens or crypto securities and applications of blockchain technology make the studying of this area of expertise even more difficult. This article intends to broadly understand the cryptocurrencies universe, to present a brief history of cryptocurrencies and their current development stage, while including quantitative data about the top 10 cryptocurrencies and their market capitalization. Other points presented in the article are the lack of regulation of virtual currencies, the influence that virtual coins have on real money, and the behavior of the central banks in regards to cryptocurrencies. Conclusions present an insecure, volatile and uncertainty future of cryptocurrencies.

As financial intermediaries banks play an important role in the operations of an economy. Over the years private banks are gaining market share by providing solutions which people are not able to get from public sector banks. This is also visible in numbers as number of accounts, credit off take, Current Account and Saving Account (CASA) deposits have been growing over the years. Lastly the main issue of Net performing assets (NPA) has also been addressed by private sector banks. Over the years the NPA level has been low which clearly shows that prudent lending practices by private sector banks have rewarded not just banks but also stakeholders. It has been very well captured the on-going shift of people trust from public banks to private sector banks. The paper examines the determinants of private sector banks in India for the years 2010 to 2019. A sample of 15 banks in the private sector has been taken. Descriptive Analysis, Correlation and regression using panel data modelling has been performed. Share Returns has been taken as the dependent variable while other variables as Dividend per Share (DPS), Return on Equity (ROE), Price to Book (P/BV), Net interest margin (NIM), Capital Adequacy Ratio (CAR), Net non-Performing Assets to Net Advances (NPA to NA) are independent variables. The results show that independent variables are significant variables in affecting the profitability of banks in the private sector of Indian economy. It is also suggested that if banks concentrate on these variables, they would be able to generate better profitability and high returns for shareholders.

This article presents the way in which the state can intervene to facilitate the transition to a circular economic model, by creating a framework of government interventions, which must operate without distortion, designed to maintain or improve the intrinsic value of materials, along production systems and value chains and at the same time minimize the level of inflows of virgin materials. Ensuring the conditions can have a fair competition for circular models that can ensure by eliminating subsidies can grant linear behaviors and to establish integrity for risks and external to be able to associate production and to be able to use linear for the material. Such a framework facilitates and accelerates the allocation of capital for investigating and activating traffic, stimulates private sector funding and allows for an optimal pension for public finance. The analysis of institutional conditions that facilitate the transition to a circular economy by stimulating investment to improve natural capital and social equity includes environmental taxes, trade permits and the marketable certificate system, which focus on the economic role of government intervention, with a particular focus on government interventions.

The present paper brings to attention the evolution of higher education in Romania after 1989, carrying out in this sense a quantitative analysis through the prism of specific indicators. The Romanian higher education has undergone great transformations in the last 30 years. Two major periods were identified in its evolution: the first being the expansion and the second, contraction. In the first stage, the number of universities, the number of faculties, the number of enrolled students, the number of graduates increased exponentially. Also, although not at the same pace as the number of students, the number of teachers serving universities has also increased. Starting with 2005, the Bologna system was adopted, which involved switching to the three cycles. Gradually, evening education disappeared. There have been changes in the structure of specializations by reducing the share of students enrolled in technical specializations in favor of those from economic, law science and university-pedagogical specializations. In the second stage there was a certain contraction of higher education, determined by the reduction of the birth rate, the emigration of the population after 1990, the emigration of high school graduates to study abroad, the reduction of the quality of higher education. Most of the school population in tertiary education is made up of undergraduate students. In terms of forms of education, the largest share is held by students in full-time learning education.

The relationship between foreign direct investment (FDI) and host countries is a complex, multi-faceted one. One of the issues that recently gained more attention in the literature is the impact of FDI on employment. The aim of this paper is to investigate the way in which FDI impacts the labor force in the host countries and to reveal the factors that determine the outcome of this relationship. Based on a thorough desktop research, the approach of the paper is twofold: both the quantitive impact and the qualitative impact of FDI on employment are analyzed. The main findings are that quantitatively, the result is largely determined by the type of FDI, while qualitatively, most effects (on productivity, wages, and training) are positive. The impact of FDI on employment is analysed further on the special case of Central and Eastern European countries. These went through a transition period in which former state-owned companies were privatized with the help of foreign investors, giving rise to specific effects. The conclusions highlight the positive and the negative aspects associated with the impact of FDI on employment, turning into recommendations which may become a valuable toolokit for policy-makers in host countries

In recent years, entrepreneurs have become key drivers of business growth worldwide, since that time, entrepreneurial education has subsequently been garnering an increased level of interest. Entrepreneurship is considered to be a combination of both art and science, used to create value when targeting customers; however, there appears to be a myth when it comes to the recipe required for success. It was discovered by The Office of Small and Medium Enterprise Promotion that less than 10% of Thai small and medium entrepreneurial businesses were successful, while the global rate of success is close to 5 times higher than that of Thailand. Therefore, a better understanding of key success factors is necessary going forward. Typically, an entrepreneur’s journey starts with entrepreneurial intention, opportunity recognition, business initiative creation, and resource assembly, if they are to start their venture successfully. Entrepreneurial intention is a prerequisite to entrepreneurial behavior, based on the theory of planned behavior. Subsequently, scholars are interested in the key factors which drive entrepreneurial intention. While innovativeness has been proven to be one of the critical factors within certain groups of the population, there is little empirical data on the causal relationship between innovativeness and entrepreneurial intention amongst undergraduate students. As such, this study has two main objectives: (1) to explore factors influencing innovativeness, attitudes towards entrepreneurship and the entrepreneurial intentions of undergraduate students, and (2) to understand the causal relationship between innovativeness and entrepreneurial intentions among undergraduate students. The population of the study is comprised of undergraduate students from public universities and 330 effective responses were received in the survey. Based on the findings from confirmatory analysis and multiple regression, the empirical data is consistent with the theoretical measurement model for both innovativeness and entrepreneurial intention and (2) innovativeness can effectively predict entrepreneurial intention among undergraduate students.

The article discusses the motivations for a holistic assessment of the digital economy. It outlines the pilot assessment program initiated by the World Bank Group and describes the assessment frameworks, tools and processes deployed in selected pilot countries. It identifies the common challenges faced and lessons learned from applying these assessments in different contexts. These challenges include: prioritizing digital diagnosis objectives, addressing inequality and poverty issues, securing participation and partnership of stakeholders, addressing implementation challenges, and integrating digital transformation strategy into country development strategy. Other challenges include: harnessing digital innovation and entrepreneurship, mobilizing local demand for the new technologies, engaging business in digital diagnosis, and adopting multi-disciplinary and whole-of-society approaches. The article addresses the implications of these challenges and draws broad lessons and practical recommendations for developing countries and aid agencies.

The Small and medium enterprises bring a significant contribution in what concerns competitiveness, research, innovation, employment as well as the solution to particular problems. We should strive to develop a dynamic and competitive SME sector, which will contribute to economic growth, employment and reduction of poverty. Strategy is the direction and scope of the organisation over the lonhg term, which achieves advantage in a changing environment through its configuration of resources with the aim of fulfilling stakeholder expectations. Strategic decisions are made under conditions of complexity and uncertainty; they have wide impact on the organisation and often lead major change.There are several reasons why a business should give serious consideration to establishing a clear concept of its corporate mission and values. Actually, the crisis accompanied permanently the Romanian economy during the past half of the century. Currently again a period of crisis has fallen over the Romanian economy. Every time the causes have been analyzed by the economists yet the necessary actions were never taken or finalized, which is even more serious due to the fact that any change triggers investments

The COVID-19 pandemic is having a severe effects on both workers and employers in different countries and industries worldwide. In this paper we analyzed the impact of the corona crisis on the global economic growth and the main questions addressed here are the effects of corona crisis on the global manufacturing activity and service industry. The research results showed that at the beginning of 2020 when the coronavirus emerged in Wuhan, China and has spread around the world causing a pandemic, it brought the global economy on its knees in a very short period of time. Also, the results indicate that the global economy will take years to recover from the corona crisis. The research is done by exploring of the latest economic analysis related to the COVID-19 pandemic in order to identify its effects on world economy throughout the first half of 2020

The quality of earnings - this seemingly abstract concept - is, on the contrary, one of practical interest for investors in the decision-making process. Quality gains provide assurances about their persistence, about their lack of fluctuation, about their predictive ability. In this way, investors will make safe decisions. Moreover, quality gains provide confidence that they are not affected by accounting manipulations, that the performance presented is real and can be maintained in the future. The quality of earnings can be assessed by the size of the commitments defined as the difference between profit and cash flow, between operating income and operating cash flow or by the ratio between them. Persistence can be measured by the slope coefficient in a regression of the change in the level of gains. More than persistence, the lack of earnings fluctuation provides a more relevant assessment of their quality, and can be assessed by the residuals of the regression of the change in earnings. Among the explanatory variables of the quality of earnings used in various models are numerous performance rates (return on assets, gross margin, liquidity current ratio, Growth rate in net working capital, return on total capital), stability / growth rates (year-to-year change in return on assets, year-to-year change in long term debt to assets, growth rate in net working capital, growth rate in noncurrent assets, change in receivables versus change in sales). So the quality of earnings includes the lack of variability, the lack of earnings management, performance. Through this, the quality of earnings is the best assurance for investors.

Salaries represent employees' monetary rights and expenses for employers. Through this article we aim to highlight the complex way of calculating wage entitlements (although at present it is conveyed by the political system that due to the single rate, the net salary and the related contributions are determined very easily). The complex calculation is also due to the medical certificates issued by family doctors, hospitals, etc. We want to make some proposals to simplify the calculation method and streamline the recovery from the Health House of the amounts paid in advance by the employer for the medical certificates.

The rhythm and content of the changes from the political-administrative, conceptual, legislative and technicalprocedural point of view, in the context of which the fiscal system was realized, the radical transformation of the economic environment, have determined numerous adaptations and transformations of the fiscal apparatus from several points of view. The complexity of the activities has in time determined a professional specialization of the component structures and an increasingly clear separation of the activities in order to be managed and controlled. The fiscal apparatus consists of a set of institutional structures whose attributions, competencies and responsibilities are established by regulation and have as common objective the realization of fiscal revenues at the terms and under the conditions provided by law. Currently, in Romania, the public institution through which the Government fulfills its executive role in fiscal matters is represented by the Ministry of Public Finance, which functions as a specialized body of the central public administration subordinated to the Government. The objective of the paper is on the one hand to present the fiscal apparatus in Romania, as well as to highlight the indicators for measuring the efficiency of the activity carried out by the fiscal apparatus. The indicators highlighted in the paper for the assessment of the activity carried out by the fiscal apparatus are based on statistical data.

The research of the regulations and the way of coordinating the internal audit in the public sector in Romania, contributes to the essential understanding of the audit issue, to the identification and remedy of the existing dysfunctions, in accordance with the existing existing policies. The adherence to the European Union has always entailed, and still entails, the adopting and applying of the Community’s “acquirement”, of the corresponding legislation in all the economic and social activities. Within the institutional reforms, the improvement and development of the system composed by financial and public audit is an essential element; this is where the well-established communitarian principles would fit, practices that the countries of the European Union apply successfully in forming, administrating and using public financial resources.

Money laundering is a process by which one gives or tries to give an appearance of legality to profits obtained illegally by criminals who, without being compromised, subsequently benefit from those revenues. The preoccupation of hiding the nature or the existence of money has existed since ancient times. Taking into account the scale of operations and their frequency, specific to those times, the historical tradition enshrines the following practices: the use of banking activities and geographical areas as financial refuge. The use of banking activities to hide and fraudulently transfer money experienced a special development in the European Middle Ages. These money laundering techniques, which foreshadow modern banking techniques, were mainly designed either to make the high interest rates on loans disappear, hiding their existence, or to appear to be a different kind of income, disguising their nature. The objectives of money laundering were and are achieved using several methods: - for long distance payments, between two shopping centers where different currencies were used, the payment amount was calculated on the basis of an artificially increased exchange rate that also covered the payment of interest; - the amounts paid in excess (the interests) were presented as a special premium to compensate the risks of the loan operation under the justification that the debtor was a bad payer; - what are now called "ghost companies" were also used. Significant amounts were lent to firms that did not have a real functional role, and then the creditors received a so-called profit from the debtor (which was, in fact, the interest on the loan), even if it did not make any profit and did not carry out no activity. In essence, all these tricks were intended to deceive the authorities into transfers of the amounts obtained fraudulently, generally through tax evasion.

The challenge of the 21st century, to succeed in an economy based on innovation, creativity and collaboration, is digitalization that has changed everyone's life, bringing new opportunities in the field of human resources, the last years marking important steps in this direction. Effective information analysis requires skilled jobs that are focused on solving unstructured problems, with technology replacing manual labor in most aspects of life and in most areas of the economy, making life without the Internet impossible. Under these aspects, the qualification thus becomes a very important element in keeping the job in favor of some robots

The Covid19 pandemic, the phenomenon that will undoubtedly define the year 2020 by it's general impact on our socio-economical life, has had a major impact on the behavior of the population in terms of online shopping, too, because it was almost the only safe way for buying goods and services for personal use during the alert or emergency periods. Many skeptic consumers in the use of this way of shopping have passed the previously perceived barriers regarding buying/ordering over the Internet and had changed their negative attitude, and hade accepted it as only one possibility to safe shopping. Even if, in absence of recent certain dates for online shopping dimensions during the current coronavirus pandemic, interesting changes in individual online shopping behavior are expected because of the lockdown in traditional commerce by social distancing restrictions for the consumers under the pandemic which made that the traditional barriers of online shopping to falling-down. The e-commerce has now a great chance to grow as a healthy safe solution to buy goods and services for private use, even if many authors consider that the attitude is closely related to the perception and behavior manifested, a stability characteristic being the result of a long time. In order with a future analuysis of these changes in individual attitude on online shopping, this study aims to analyse the situation before the pandemic, loking for negative attitudinal disparities at the level of European Union Member States (excepting United Kingdom), based on Eurostat data for the year 2019. In this regard was performed hierchical cluster analysis with IBM SPSS v. 20 statistical software. The profiles of groups of countries are defined for the end of the year 2019 and the expected changes under the impact of coronavirus pandemic are identified for several countries.

Thе оvеrlар bеtwееn а highly glоbаlizеd wоrld аnd а раndеmic thаt is sрrеаding аt аn еnоrmоus sрееd рuts us in frоnt оf chаllеngеs, оf а mеdicаl, humаn, sоciеtаl, еcоnоmic nаturе, fоr which thеrе sееm tо bе, fоr thе timе bеing, оnly раrtiаl аnswеrs whоsе еffеctivеnеss is , lаrgеly unclеаr. Thе раndеmic cоming frоm Chinа will раss; but it will lеаvе bеhind а sеvеrе еcоnоmic crisis аnd imроrtаnt gеороliticаl аnd gеоеcоnоmic chаngеs, а trеnd tоwаrds dе-glоbаlizаtiоn аnd thе рrоsреct оf аn еxраnsiоn оf Bеijing's intеrnаtiоnаl influеncе, hоwеvеr mаjоr

The existing link between brands and individuals represents an ongoing challenge for both implied parties given the high complexity of involved elements, actions, experiences or required knowledge processes. In the case of the automotive industry the situation is no less intricate. To be accounted into attention are both the high dynamic of consumer’s needs or demands towards lifestyle simplification thru any possible procedure or instrument as well as the constant involvement demonstrated by the brands in this area which’s mail goal remains the leadership on market, while having in vision consumers as central elements, along with environment imprint and a fundamental strong, unique and values-based company culture. The decluttering process of the convoluted dependency appeals for a better understanding of the peculiar premises that generate certain situations with impact on social, economic, financial or phycological patterns. The current preliminary study generates an insight into the direct relationship existent between the two participants: companies, as brand representatives and major role players within a market state of being at a point in time and consumers, as final elements in the business model, with a similar high importance part, in shaping traits of successful interaction models. The interdependency of the two mentioned factors generates remarkable variations which authorizes flexibility and proactivity to contribute to objectives attainment, while sharing the common ground that allows a proper functioning of commercial activities within the studied field, automotive industry for this case.

Recently, Facebook Company announced its intention to put into circulation and manage its own currency. Its name would be Libra and it would be managed by a financial technology company with the headquarters in Geneva, called the Libra Association. The stated objectives of this currency would be to facilitate the international electronic commerce and to ensure an efficient platform for the global payments. As expected, the reactions of government and central bank representatives appeared immediately. The president of the US central bank, Jerome Powell, has already stated that the project of this virtual currency cannot go on until the “serious concerns” related to its operation are removed. These would be: money laundering opportunities; consumers' protection; stability of the global monetary system; but also “potential systemic effects”. Bruno Le Maire, the French economy minister, also explains more clearly his reservations about the existence and operation of such an international currency. It is about the fact that a private company cannot and does not have the right to create a currency that would compete with national currencies, currencies that are an attribute of the sovereignty of states. As it can be seen, the representatives of the states are against the Libra currency. Why is this happening? Why do these people not agree with such a currency? Is it a fad of theirs, or simply are the concerns more serious, meaning they have a much more serious background? These are the questions we intend to answer in the following.

Tax evasion is, from a semantic point of view, an evasion from the payment of legal obligations due to the state. Therefore tax evasion is an actual or potential behavior of the economic subject (individually or collectively, as the case may be) likely to lead to the avoidance of payment of legal obligations due to the state. Therefore, not any evasion from the payment of legal obligations represents tax evasion, but only the evasion from the payment of legal obligations due to the state. This is logical, given that the tax obligations are set by the state for its benefit. The purpose of this study is to help to define more clearly and bridge the gap between "legal" and fraud evasion, intentionally committed by taxpayers. If the tax evasion is defined as a legal reorganization of a business so as to minimize the tax liability, tax fraud is seen as an illegal rearrangement of a business for the same purpose. Tax evasion refers to minimizing taxation by using acceptable, real alternatives. On the other hand, tax fraud is caused by those taxpayers intended to disregard the tax law. We must understand that the tax evasion decision has a variety of factors and a clear demarcation is difficult. This paper aims at identifying and highlighting as clearly as possible these factors, clarifying the differences between legal and the fraudulent ones. We want to establish the imperfections, the legislative “leaks”, which would prevent the phenomenon of tax evasion, contributing to a correct collection of tax liabilities from taxpayers, according to their contributory power.

Accounting provides information on financial performance of an entity. For companies who ows profit tax, it is important to establish the right amount of deductible expenses. According to the current Romanian fiscal law, the taxable profit of a company is calculated as a difference between revenues and expenses registered according to the applicable accounting regulations, adjusted by deducting non-taxable revenues and tax deductions and by adding nondeductible expenses. Also, elements similar to revenues and expenses are taken into account when calculating the taxable profit. The purpose of the paper is to analyze how the common costs can influence the profit tax amount a company has to pay, and to describe the manner how this kind of costs is allocated in the tax calculation process.

Both in the in the financial world and in the entrepreneurial world, high-performance leaders have been constantly sought to cope with current economic and social times. The issue of leadership has been debated for many years and thus models have been found to meet economic needs. There are many impact leaders who have different strategies from each other. Often the style in which leaders lead organizations efficiently must be shaped by the circumstances that arise in the world of continuous development.

The increasing and severe occurrence of these events requires the implementation of adequate risk management systems. All developed countries focus on trying to prevent and mitigate such events. The most important stage in the risk management process is risk assessment. In this article is presented a conceptual approach to the risk assessment stage of extreme events and how the risk assessment stage of extreme events in Romania was performed. The purpose of this paper is to analyze the stage of risk assessment of extreme events in Romania. In this article, is used qualitative research based on data processing and analysis, documenting risk assessment methodologies, studying reference books and articles and synthesizing conclusions.

money neutrality; money reactivity; real economy; monetary economy; biomonetarism; sustainability of development through money; monetary flexibility; economic expansion; currency production function; money in socialism; inflation; shortage inflation

The important role that tourism and travel must play in the development of Romania's economic and social future is undeniable. However, much remains to be done to ensure that the industry's potential is fully realized. Both government and industry will have to overcome a number of challenges to ensure that maximum benefits are achieved for the economy and society in a sustainable and long-term way. Long-term planning at both regional and national level is a premise for generating investor confidence and organizing the sustainable and successful development of tourism in Romania. The lack of a tourism development strategy can lead to the degradation of tourism resources with very serious socio-economic implications. From the economic point of view, the degradation of the tourist potential is reflected first of all, in the impossibility of its capitalization from the tourist point of view as a source of income, thus constituting a definitive loss for the economy..

Bank risk being generated by a series of operations and procedures must be regarded as a conglomerate or a complex of risks, in most cases independent, in that they may have common causes. All operations and procedures that are carried out permanently generate risk exposure. In practice, according to the recommendations of the National Bank of Romania, commercial banks in Romania identify the following groups of risks: credit risk, market risk (including currency risk), operational risk (including legal risk), risk of asset and liability management (including liquidity risk and interest rate risk), external events risk and strategic risk. Due to the importance it attaches to the management of banking risks, the National Bank of Romania has implemented a series of normative acts aimed at ensuring a prudent abhorrence of the Romanian banks for the risks inherent in their activity. In practice, commercial banks strictly comply with all the requirements submitted by the NBR, namely: setting up mandatory reserve funds for attracted deposits, forming reserves for reductions for credit losses, maintaining the structure of the loan portfolio in accordance with the credit policy, maintaining capital total norms and the adequacy of the risk-weighted capital within the limits set by the NBR, the compliance with the limits regarding the open currency deposit, the liquidity of the bank, the granting of loans and other requirements.

As the name suggests, the concept takes us to an interesting area of debate about morale in economics and money management. The problem is whether there are limits in trading money and what are those limits, especially given that the money in banks is not actually the money of the banks, but of their customers. The behavior of the banks should therefore be extremely prudent, restricted by the fact that the banks are a mere intermediary, administrator of other people’s money. In conditions of greedy, shallow and risky behavior, then when financial crises occur, banks are always saved, and their customers are always the ones who pay the damages. It is a simple mechanism for not taking responsibility and avoiding the division of damages. In other words, when the sun is out, that is to say, the economy is doing well and offering profits, we are all happy, and when the bad weather comes, the sadness is only on the faces of some, more precisely on the faces of the innocent ones.