Author Archives | rodica.gherghina

Insolvency in Romania – Solution for Avoiding Company Bankruptcy in the Context of Economic Crisis

The lack of a propitious economic environment made the number of companies in Romania that became insolvent to progressively grow from one year to another, even though average sales registered in the year of starting the procedure were larger than the ones in previous years.
The performed study presents on one side the evolution of companies in insolvency in Romania in the crisis period and on another side determining factors of their activity’s continuity. The companies surviving the crisis are the ones that managed to reinvent themselves and identify new sales niches for their products and services, but one of the greatest disadvantages of these companies in insolvency remains the negative image outlined around them.
The insolvency procedure represents only one confirming instrument of a factual situation, respectively the one of Romanian companies’ powerlessness in paying their increasingly higher debts. The year of 2008 had a prominent evolution in the number of bankruptcies in Romania, especially after the instauration of the economic crisis, many creditors abusively using this insolvency procedure that in the current economic conditions is opened too easily, affecting the economic performance, even the companies’ survival.
In conclusion, the recovery must be thought as a process that begins before the respective company reaches insolvency, exactly to avoid this, and the choice of solutions must take into consideration the multitude of factors influencing the respective company.

  Insolvency in Romania – Solution for Avoiding Company Bankruptcy in the Context of Economic Crisis (661.1 KiB, 1,363 hits)

Posted in Economics, Information Technology, Knowledge Management, Volume V, Issue no. 6Comments Off on Insolvency in Romania – Solution for Avoiding Company Bankruptcy in the Context of Economic Crisis

The Impact of the Economic Crisis upon Fiscal System from Romania and EU Member States

Fiscal policies must ensure the stability of taxes and duties and to propose an optimal level of taxation that does not stop economic activity and do not aggravate the financial situation of the population. Measures concerning taxation system should have the effect of training on tax payers and coordinate proper location and collection of taxes. In the study we aim to achieve reform radiography incomplete and to highlight the challenges raised by taxpayers in Romania by presenting major deficiencies that offset the competitive advantages of the Romanian fiscal system.
Tax legislation should establish legal rules on imposing taxes and penalties for non-compliance with fiscal discipline and conduct training activities in the field of tax payers.
The uncertainty caused by frequency of legislative changes and quality of the relationship with the revenue authorities, including transparency, preparedness and availability are concerns that are found in the current study.
In conclusion, in Romania the share of revenues in GDP is low, although the number of tax administrations is comparable to that of countries with a population twice as large, which confirms once again that the Romanian tax system needs further reform. Its success will be ensured through indirect stimulation of a more sustainable model of economic growth by increasing tax collection to accommodate any potential adjustments of tax system directed specifically towards the incentive to work.

 

 

  The Impact of the Economic Crisis upon Fiscal System from Romania and EU Member States (876.3 KiB, 1,415 hits)

Posted in Economics, Information Technology, Knowledge Management, Volume V, Issue no. 6Comments Off on The Impact of the Economic Crisis upon Fiscal System from Romania and EU Member States

Funding Higher Education in a few EU Countries: Implications for Competition and Competitiveness in Higher Education

Public funding of higher education is an important topic within European governmental agenda, especially in times of budgetary austerity. Thus, given the challenges higher education industry faced in the last decades, the present paper aims at identifying the strengths and weaknesses of a few national funding patterns of higher education institutions (HEIs) within the European Union. Using the method of content analysis, the study conducted in Finland, Greece and Romania also reveals the effects the national funding patterns might have on the competition and competitiveness of national HEIs in the European higher education market. The issue of performance funding of HEIs is also addressed. Moreover, the authors argue for the necessity of integrating institutional performance indicators as an important criterion for allocating public resource to HEIs, in order to raise quality, competition and competitiveness of national HEIs on the European market of higher education.

  Funding Higher Education in a few EU Countries: Implications for Competition and Competitiveness in Higher Education (703.1 KiB, 1,441 hits)

Posted in Economics, Volume V, Issue no. 1Comments Off on Funding Higher Education in a few EU Countries: Implications for Competition and Competitiveness in Higher Education

Using Linear Programming in order to Optimize the Allocation of Resources for Investment

The authors’ scientific approach highlights the method to allocate resources for investments to modernize two laboratories within a school, using linear programming. The study aims to achieve maximum profit by upgrading the two laboratories. We made recommendations with respect to the optimum solution. However, using optimization conception is only possible if the conditions for achieving the relevant decisions are correctly formulated and the efficiency criterion is known. Using linear programming method recommendations can be developed related to economically optimal decisions regarding especially the investment resource allocation.

  Using Linear Programming in order to Optimize the Allocation of Resources for Investment (519.0 KiB, 4,356 hits)

Posted in Information Technology, Volume III, Issue no. 1Comments Off on Using Linear Programming in order to Optimize the Allocation of Resources for Investment

The Contribution of Education to the Economic Development Process of the States

The study on the contribution of education to economic development process measured by GDP per capita reveals that one of the main factors of influence is the training level of the human factor. Through statistical methods and econometric models, we analyzed the influence of education spending on gross domestic product level. Likewise, the study highlights also the issue of correlation between education spending and employment levels. At the end of the scientific approach, the authors analyze the dependence of education – human development – GDP per capita.

  The Contribution of Education to the Economic Development Process of the States (736.8 KiB, 11,582 hits)

Posted in Economics, Volume III, Issue no. 1Comments Off on The Contribution of Education to the Economic Development Process of the States

Education Funding Methods in European States

At European level, the allocation of a small amount of financial resources to education as a percentage of GDP associated with major economic difficulties affected the whole structure of the education expenditure: by type of expenditure, level of education and residence type.

State intervention in educational activity requires to be aware of the amount of public expenditure conducted by public bodies, both central and local authorities, to finance this activity. Funding education must provide incentives to ensure efficiency as it is important not only for being the base of a proper organization of the educational activity, but also because it can improve its content.

  Education Funding Methods in European States (890.2 KiB, 4,007 hits)

Posted in Knowledge Management, Volume II, Issue no. 5Comments Off on Education Funding Methods in European States

Sustainability, Management and Policy of Public Debt

The present scientific work aims at establishing the connection between the sustainability and the management of public debt both as hot stringent issues, and as strategic components of the state public policies. The authors analyze the relationship between public debt and some macroeconomic variables, by using a model structured on two time periods. Also, the study the same relationship based on data concerning public debt as a quota of the GDP (%) and the economic growth as a quota of the GDP (%) in 2009, by applying the econometric models for several European Union members.

Therefore, the results of the present research highlight the role played by the debt management in ensuring the debt sustainability and also prove that the connection between the economic growth and the public debt is indirect and only medium strong, due to the results obtained after applying a unifactorial econometric model.

  Sustainability, Management and Policy of Public Debt (946.9 KiB, 3,223 hits)

Posted in Economics, Issue no. 7Comments Off on Sustainability, Management and Policy of Public Debt