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ABSTRACT: Building a coherent country branding program at international level requires a strong coordination between the government, the business sector, the decision makers from educational and cultural sector, the civil society and, the mass media representatives in any country. The paper presents the main efforts Romania has done to build a country image with a significant impact at international level. It focuses on the main policies and programs applied by Romania in the specific field of the national branding, offering a good analysis on the institutional framework and experience in promoting the country’s image internationally. The paper presents also the results of a research conducted with different local authorities (based on personal interviews) involved in the construction and promotion of a national brand abroad. The findings of the study provide opinions on the implications of the role of Romania’s country image in the European Integration process. A SWOT analysis on the Romania’s policy for building a European country brand completes the conclusions and the perspective on this particular issue considered to be important for a European Union integrating country. Finally, the paper makes proposals for creating a positive country image for Romania, a country that is in the process of redefining its position and its image at international level. Romania’s image will be considered from the perspective of the four dimensions defining a country image (tourism, exports, foreign direct investments and foreign policy), as well as from the perspective of building an integrated image abroad.
Management & Marketing. 01/2008; 3(1).
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ABSTRACT: Stock prices move as corporate earnings prospects change but they also move as investors change their aversion to risk. One of the central tenets of finance is that investors expect higher return for taking risk. They exchange some of their risk less securities for risky assets because they expect the total pay-off in the long run to be optimal in terms of the risk-return trade-off. The previous studies proved that expected return is linearly related to risk and if we further assume investors are risk averse, the alluded relation will have to be positive. Risk aversion is reflected on a risk premium, which consists of an expected extra return that investors require to be compensated for the risk of holding stocks. We intend to evaluate the situation of Romania in terms of risk aversion. This study is very useful for understanding the differences between the individual investment behaviours in EU and to understand the further European market evolution taking into consideration this important variable - risk aversion.
Review of Economic and Business Studies. 01/2008; 1(December):91-101.
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ABSTRACT: The purpose of this paper is to investigate the impact of 2004 accession to the European Union on perceptions related to business risks in Central and Eastern European countries. The investigation makes use of the data provided by the Regular Reports on Global Competitiveness published annually by the World Economic Forum. Methodologically, our analysis requires the estimation of an average for the core of 15 member states of the European Union (EU 15) for each individual pillar considered to describe properly the business environment. In doing so, it is possible to measure the convergence – in terms of a distance-type analysis – of the new member states with the average of EU 15, prior and after the accession, comparatively. In addition, based on a k-means clustering technique, we investigate similarities between the same countries, as well as the convergence of different groups of countries with the group which contains this average.
Romanian journal of economic forecasting 01/2008; 5(4):125-145. · 0.25 Impact Factor
