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Abstract

This paper aims at identifying the extent to which Romania has accessed European funds for agriculture and rural development in the 2014-2020 period. During this financing period, Romania has received more than 8.12 billion euros from the European Union budget, more precisely from the Agricultural Fund for Rural Development (EAFDR), through the National Rural Development Programme (NRDP). Five percent of the available amount was allocated to the Leader approach at local level and at least 30% was allotted for environmental protection measures. This paper will analyze the number of projects which were submitted, selected and contracted and the payments made until 2019. Subsequently, an analysis will be carried out of the NRDP sub-measures in order to prove the usefulness and necessity of this type of structural programme. The rate of absorbtion of European funds will be closely correlated with indicators such as the evolution of the GDP / inhabitant, the population and the number of enterprises in rural areas, the employed population and the number of enterprises in agriculture, forestry and fisheries, the development of villages through the construction or modernization of roads, sewage infrastructure, water and gas. To conclude, the positive and negative aspects regarding the implementation of European funds will be listed, especially in the fields of agriculture and rural development in Romania.

Abstract

While the economy has shown clear signs of recovery, in quantitative terms, after the moment of the global crisis, energy production has returned to the level before the crisis, only since 2011. In this context, this paperwork aims to carry out an analysis on the existence of a correlation between the Gross Domestic Product registered in Romania and the final annual consumption of electricity. The databases used involve the data recorded for the period 2000-2018. Over time, in the specialty literature, there have been two approaches regarding the link between the economic growth and the energy consumption, respectively an approach starts from the idea that in order for economic growth to occur, energy consumption must increase, and another promotes the idea that economic growth can reduce energy consumption, by applying energy efficiency measures. To perform the analysis, a simple linear regression model was initially used in which we considered the Gross Domestic Product as a dependent variable and the Electricity Consumption as an explanatory factor (independent variable). Subsequently, analysing the results, a quadratic linear regression model was used to test the hypothesis of a more complex link between the two indicators. Following the tests performed on the two chosen variables, the Gross Domestic Product of Romania and the Final Electricity Consumption, can be argued that the energy intensity of the economy increases as economic growth reaches a certain threshold. After that threshold, economic growth is associated with the relative decrease in energy consumption.

Abstract

Car industry is one of the most important sectors in Romania with a significant impact on country’s GDP. This paper presents the construction and the evaluation of an Analytical Network Process (ANP) market share model, which emerged from extended in-depth interviews with top managers of the main Romanian car industry producers. ANP model was used to estimate the market share and compare the results with the actual values, expressed by Saaty’s compatibility index, then validate this model and offer comparative numerical weights of importance car industry in Romania. The conclusions of the article are in line with the research in the field and show that the automotive market shares in Romania estimated by the ANP model are confirming the companies’ calculations. The software we have used in our analysis was Super Decision 3.2 software.

Abstract

Situated at the crossroads between several sectors, from biology, biochemistry, agronomy, management and economy to technology, the bioeconomy represents all uses of bio-resources, whether they come from agricultural land, sea, forest or waste materials. The current bioeconomy strategy of European Union identifies agriculture as one of the sectors mainly supplying biomass. In the last decades, agriculture was constantly transforming towards a knowledge intensive sector. Being almost entirely the physical support for agriculture, the rural regions are expected to become a key player in the development of the bioeconomy activities of the near future. In the modern biobased economies, the rural regions represent more than just a source of raw materials to bioeconomy industries. Future opportunities for the development of the agricultural sector in Romania, thus boosting rural development were identified by conducting a SWOT analysis of the domain through agriculture development.

Abstract

This paper aims to identify and review the most important and topical scientific papers that deal with the strategies that the countries of Central and Eastern Europe apply in the bioeconomic field. In the context of a special attention paid to this sector by the policymakers, seen through the adoption of The Bioeconomy Strategy, in 2012, by the European Union and updated in 2018, it is natural to ask what is the current state of knowledge in this field? This paper treats with the sectors enclosed in this field, from agriculture to biofuels and from paper production to biopharmaceuticals, based on the scientific literature underpinnings, given that this development sector is an emerging one and the ampleness of the scientific works being limited. The methodology of this paper comprises the literature review of the main results obtained this far, in order to accomplish the foundation for further research.

Abstract

Blockchain remains still an experimental technology, with current applications addressing only some elements of small-scale projects. Once the technology matures however, it has the potential to transform industries and even the economy, as it begins to integrate complementary technologies such as AI and IoT. It has the potential to bring fundamental changes to financial accounting and auditing, and even to entire financial markets. This paper explores the potential for blockchain applications in accounting, identifying major benefits and shortcomings, and analysing opportunities and possible threats. We investigate mainly the organizational challenges raised by an accounting blockchain systems and its potential to enhance the accounting activity. We discuss blockchain’s potentially disruptive effect on the accounting profession, and conversely, the potential role of this professions in further developing blockchain technology.

Abstract

Digitalization nowadays can stretch in all aspects of the functioning of a business. Therefore, given the available technologies, the speed at which businesses merge with the digital world dictates the comparative advantage a like company can harness over its competition. However, integrating digital means into businesses can come at a considerable cost. Moreover, this creates a dichotomy between digitalizing an already existing and thriving company functioning on traditional channels and the creation of new fully digitalized enterprises. This paper aims at revealing the relevancy of digitalization in the business world by evaluating the cost efficiency of going digital or starting digital across economic sectors for enterprises in the European Union from 2017 onwards.The argument of designing a business from scratch in an automated and smart digitalized style is much more comprehensive in a connected globalized world. The intricacies stretch far beyond the pure digital and business areal since most transactions happen internationally. The borderless approach creates a demand for all aspects of a business to work cohesively. Therefore, business operations such as accounting, legal actions, storage, delivery, and marketing must be corroborated with business operations as they are conducted in an increasingly digitalized manner. Through analyzing secondary data, statistics and case studies about the level of business digitalization across sectors in the European Union, this paper targets to reveal witch are the fast evolving sectors in terms of digitalization for businesses and the most effective way in which digitalization creates increased value for business. The countries of the European Union experience different levels of digital technology integration, it peaks in Denmark while, Romania, Bulgaria and Poland are situated at the other end of the spectrum. Manufacturing is the sector with the least amount of digital updates across the sample while communications, computer programing, travel agencies, and accommodation services surge in the digital arena. There is a direct correlation between the size of the company and its propensity to exploit opportunities in digital transformation. However there is a new aspect of the speed at which small mainly digital companies acquire acumen and therefore profit. This paper synthesis the fastest growing digitalized sectors in the European Union and highlights opportunities for old and new businesses.

Abstract

Drawing from a body of strategic management literature, we explore the approaches proposed by theory and available to business decision makers during crisis. We argue that there is no real theory of success of management during crisis but only broad principles that should be followed. In a certain sense, experience and intuition – what could be called soft skills – are as important as hardcore economics. Moreover, the metrics of measuring crisis and the impact of decisions during such circumstances are to be further explored and divided in a comprehensive taxonomy. Despite its popular use, crisis management is at the start of its development. The authors advance both an approach as well as a tool for supporting decisions during business crisis.