Ecoforum

Online ISSN: 2344-2174
Publications
Article
In Italy, during the pandemic crises caused by Covid-19 (CoronaVirus Disease-2019), the foodstuff sector claimed its central role again in the economic chain of the country, operating as an essential activity for the maintenance of a safety status at a social level. In this study we will analyse the consumption of food products during this unusual period, emphasizing the categories which have undergone substantial increases or decreases. Moreover, we will try to project a consume scenario for the future, when the health situation will revert to normal. http://www.ecoforumjournal.ro/index.php/eco/article/view/1220
 
Article
The present paper represents a study of the competitiveness of Romania in relation to the targets of the Europe 2020 strategy, in order to draw up a current regional ranking of the competitiveness. There are significant disparities in the regional contribution to the achievement of Europe 2020 national targets, which will affect both Romania's competitive position within the European Union and its long-term evolution. The purpose of this paper is to highlight these regional differences in terms of progress in achieving the Europe 2020 targets by analyzing their evolutions in the period and at the end of the implementation program. In this respect, the Principal Component Analysis method is used to establish two regional rankings corresponding to 2016 and 2020 that illustrate their intermediate and final progress. The results show that employment rate and tertiary education are the targets with the greatest impact on the final regional score and those that most differentiate the regions between them. On the other hand, the results show the tendency of regions to diverge from some strategic targets, which will further complicate Romania's long-term competitive mission.
 
EU free trade agreements with Asian countries
Summary of EU opening commitments for some commodity groups in VietnamCam kết của EU Items Commitment of Europe
Forecast of EVFTA Impact on Bilateral Trade Growth and Trade in Services
Article
The EU-Vietnam Free Trade Agreement is a new generation of trade agreements between Vietnam and 28 EU Member States called EVFTA. The EVFTA was negotiated in mid-2012. After 14 formal meetings, the EVFTA negotiation process was finalized on December 2, 2015. On 17/10/2018, the European Commission has submitted a free trade agreement between Vietnam and Europe and the Investment Protection Treaty to the Council of Europe to consider and sign the delegation, to be expected at the end. 2018 will officially sign this Agreement. It will also be submitted to the European Parliament for approval in early 2019. When the agreement is officially put into effect, it will have a significant impact on Vietnam's economy and social life. This paper focuses on analyzing and evaluating opportunities and challenges for Vietnam in a number of areas related to trade agreements such as trade in goods; Vietnam's exports to the EU; Customs and trade facilitation;
 
Article
For many companies, planning and executing effective knowledge transfer with external organizations is becoming increasingly relevant. However, the complexity of such processes often results in high failure rates. By taking the perspective of the recipient organization in a knowledge-transfer project, this research aims to identify the antecedents of a recipient project team's absorptive capacity. Empirical evidence from the case of a multinational energy company transferring technological and organizational knowledge from its UK to its Swedish subsidiary is combined with findings from prior research in order to develop a set of research propositions.
 
Article
In a bid to disambiguate authors' names, ORCID (Open Researcher and Contributor ID) was created in 2012 as a bold initiative, and has been increasingly used by academic publishers to identify authors. On this platform, author's have the freedom to maintain the accuracy of their academic record. ORCID profiles that are incomplete defeat the purpose of that system, since inaccuracies cast doubt on the information therein. In contrast, complete and up-to-date ORCIDs benefit authors and the academic community as they act as tools of transparency and verification. It is in the interest of authors to maintain their ORCID profiles complete, accurate and up to date. In this paper, the public ORCID profile of a Canadian economics academic (Derek Pyne; http://orcid.org/0000-0003-0849-0895) with a high media profile and a modest publishing profile (i.e., less than 30 published papers throughout his entire career), was examined. Similarities and differences relative to seven other profiles for this academic (institutional, Google Scholar, Ideas/RePEc, Mendeley, Scopus Author ID, ResearcherID, KUDOS) are highlighted. This case study sheds important information that will allow economists and academics in other fields to reflect on the use of ORCID and other academic profiles.
 
Article
Driver assistance systems are on the rise and shall prospectively develop to autonomous (also called: self-driving or driverless) cars. Their broad acceptance has not been thoroughly scientifically researched until now. In a previous paper, information and knowledge has been hypothetically identified as a key influencing factor in the acceptance forming process (Geldmacher et. al., 2017). For this purpose, information and knowledge is equalized by major events and news over the past five years in the field of self-driving vehicles in this paper. Acceptance is equalized by positive evaluation and effect and operationalized by a subjective evaluation of above described events and respective reactions on the stock market. Given the premises that no other unknown variable further influences the level of acceptance through information and knowledge, above deployed hypothesis is proven.
 
Article
The main objective of this study is to determine the impact of oil prices in the Fragile-Five countries (Brazil, Indonesia, South Africa, India, and Turkey) on current account deficit and growth. In this study, the method of panel data analysis was used and the period of 1980-2014 was examined. The Levin, Lin, & Chu panel; Im, Pesaran, and Shin W-stat; ADF-Fisher Chi-square; and PP-Fisher Chi-square unit root tests were used to determine the stability of data before panel data analysis. The results of the study can be expressed as follows. i) There was a statistically meaningful relationship in oil prices with both GDP and the current account deficit. While there was a positive correlation between oil prices and GDP, there was a negative relationship between oil prices and current account deficit. ii) No long-term relationship was found between GDP and oil prices; there was a long-term relationship between current account deficit and oil prices as determined by the cointegration tests. iii) Causality test also showed the presence of a bidirectional relationship between GDP and oil prices. Causality between oil prices and the current account deficit was one-way from the variable of oil price to the variable of current account deficit.
 
Article
Driven by the desire to create added value in a very generous but very difficult field of the history of accounting in Romania, and wanting to generate useful knowledge both for the academic and for the practical fields, this article aims to demonstrate the intrinsic link between economic and social development and the development of accounting through historical approach. In this context, history is not regarded as a sequence of facts, resulting in inevitable cause-effect relationships. On the contrary, it is something we have sought to avoid at all times in order to emphasize a procedural approach in which events can be analyzed in an interpretative manner. Given that history means a chain of cause and effect facts, we must draw attention to the fact that this is an ideal situation, from which we start in order to simplify reasoning. In fact, to the extent that the causes could have been objectively known, history would not have been rewritten so many times. For this reason, we prefer to approach history as an essentially discontinuous phenomenon, following major trends, speculations being what ensures the continuity of the historical process.
 
Gender of the Respondents
Age of the Respondents
Employment Duration in the Company How long have you been employed at your company?
Article
Accounting reports are the main certificate of financial position, as well as business and monetary success of the company. Manipulation of accounting reports include fictitious or incorrect processing of the data – all with the aim to camouflage the true picture of firm’s financial health. Forensic accounting as a special accounting practice will be scope of this study. This study was conducted on the Bosnian market and targeted small and medium enterprises with less than 250 employees. The aim of this research is to prove that forensic accounting gives satisfactory results in discovering significantly wrongly presented information in the financial statements, caused by frauds. This study uses primary data collection through the distribution of questionnaires. The data collected from the observed SMEs companies were analyzed, and study findings showed that forensic accounting is important and helpful to point out the wrongly presented information.
 
Article
This paper aims to study the role of servant leadership in achieving along with developing employee's career satisfaction and intention to continue with the organization in the tourist companies in Iraqi Kurdistan Region the city of Erbil. This paper has find out that there is a positive correlation and significant effect of servant leadership on career satisfaction along with employee's intention to continue with the organization. This paper provides a set of recommendations, based on the findings, such as organizations have to make sure that all managers and supervisors are obliged to the style of servant leadership. This would play an important role in rising the degree of job satisfaction of workers and the purpose of remaining with the company.
 
Article
The following dissertation aims to demonstrate if the lack of an induction process for employees in a marine industry company hinders their productivity. Also, an induction program is presented as an intervention proposal of organization development, on the premise that this program is a first step in the solving of the existing low productivity problem. By means of observation and casual interviews with the employees as research methods, it was found that the studied company personnel never went through a formal induction process and thereby, have many knowledge gaps that hinder their performance and that can be resolved by an induction program for employees.
 
-The main result indicators (additional income and prejudicial findings) of RCoA's Chambers of Accounts -for 2019
The deviations found as a result of the verification actions carried out by RCoA
The results indicators of RCoA's territorial structures and data on their activity, as well as the main financial indicators of the counties and Bucharest for 2019
The results obtained from the correlation analysis between the indicators used to quantify the financial impact of RCoA's territorial structures' activity and the intrinsic and extrinsic variables
Article
Supreme audit institutions are key actors in ensuring, through their specific external public audit activities, the accountability for public resources' management. Their goals are defined by each state's constitution and generally entail examining and reporting on the lawful, efficient, effective and economical use of public finances and assets. Since SAIs must continuously strive to demonstrate their added value to stakeholders, while also providing an institutional model beyond reproach, quantifying their impact on public finances is of the utmost importance both for SAIs and the entire society. The research aims to analyze the regulatory and reporting framework of the Romanian Court of Accounts from the audit results indicators standpoint, providing a correlational analysis with certain intrinsic and extrinsic variables. The research results are useful for both the professional and the socioeconomic environment concerned with assuring the optimal management of public resources, providing insights into a result-based approach.
 
Prevention factors for the science and business cooperation in innovation
- " Knowledge Transfer and Filter model " as an instrument of increasing SMEs innovation activity Source: own construction  
Article
This paper analyses potential mechanism of regional knowledge transfer in region with poorly developed innovation infrastructure (the Autonomous Territorial Unit Gagauzia, Republic of Moldova) through interactions between regional major players of the Regional Innovation System - the educational and research institutions, small and medium enterprises (SMEs) and local authorities. Solution of this problem can be found in modern studies of territories innovation development through the clustering processes. Through the empirical study - innovation potential analysis of local SMEs - we proposed advantage mechanism which focused on the one type of knowledge cluster – Innovation and Educational Cluster. The symbiosis of entrepreneurs, government agencies, educational institutions and business service providers with the regional core - University, allows to increasing exchange flows of innovative knowledge between all members of the cluster and distributing them to the entire region and beyond. The results and proposals of this study formed the basis of the “Program of increasing the innovation potential of Gagauz SMEs”.
 
Article
The paper aims at examining how economic clusters could address the low resilience of the Moldovan industries relying on inward processing. The authors conceptualize the notion of economic resilience under pandemic disruptions. They justify economic clusters contribute to building the resilience of their companies-members, particularly in the Republic Moldova. The analysis reveals despite some opportunities, Moldovan inward processing exports have turned out especially sensitive to the crisis. The dependence on lohn limits the ability of Moldovan enterprises to recover from disruptions. The research suggests that Moldovan companies capitalize on the experience of companies in the European Union, by forming or joining economic clusters. The authors hold the case of Republic Moldova reconfirms the direct correlation between the weak clusterization and the low level of economic resilience, thereby pointing to a vicious circle. To break this circle, authors conclude, Moldovan companies need to connect to the European Union's economic clustering process.
 
Socio-Demographic Characteristics of the Respondents in the Paints Companies
Marketing Efforts Engaged in by Paints Companies
Article
The growing awareness of firms about the deployment of information and communications technology continued to stimulate competitive advantage for them in the marketplace. This study investigated the numerous information and communications technologies deployed for products marketing in the Nigerian paints industry and also examined the degree of capacity in which ICTs were deployed in relations to contemporary marketing practices. This study considerably administered 240 questionnaire on paints manufacturing and marketing firms in Nigeria which resulted to 84.5% response rate in year 2014. The outcomes of the analysis revealed that the telephone and e-mail were widely embraced for marketing in the Nigerian paints industry. It was also discovered that paints companies adopted ICT more in a reinforcing capability as against enhancing and transforming purposes. The study suggested that paints producing and marketing firms in Nigeria need to incorporate more of ICT facilities and utilize the various offers of electronic marketing for their daily operations and automations thereby improving firm's profitability and performance. More importantly, attention should be shifted on companies' capability to innovate and consequently introducing new ICT products and services in the market.
 
Correlation between price and quality of consumable goods in Ukraine * 
Article
This paper investigates the role of informative advertising in creation and augment of market power as well as the ability of an advertiser to maximize the value of its economic rent. Informative advertising is considered to be a merit good unlike a persuasive one that is mostly associated with a bad. But analysis of the advertisement breakdown in Ukraine shows that the share of price advertisements, which are the most beneficial for the public, is negligible today. Further still those advertisements are mostly situated in the sectors, where price competition is the least strong. Another kind of informative advertising – differentiating advertising – turns from an instrument of informing consumers into the vehicle of manipulation of consumer choice. Using the blind tests the author has compared the quality and the prices of the range of advertised goods and has found out a low level of correlation between the variables. That means that informative advertising serves a function of informing consumers inefficiently. At the same time phantom differentiation and misleading advertising proliferation as well as informative advertising concentration on experience and credible goods instead search ones testify to effective serving a function of maximizing advertiser welfare.
 
Article
The world's population is aging-an increase in the proportion of older people in the total number of population is observed in almost all countries. The process of population aging is becoming one of the most significant social transformations of the twenty-first century. This is reflected in almost all sectors of society. Demographic ageing affects labour and financial markets, the demand for goods and services such as housing, transport and social protection, as well as family structure and relationships between people belonging to different generations. Older persons are increasingly seen as participants in the development process, whose ability to act for themselves and their society must be integrated into policies and programmes at all levels. In the coming decades, many countries will face serious challenges in the areas of public health systems, pensions and social protection. The inexorable momentum of population aging around the world will likely become the most significant demographic process of the 21st century. Continuing shifts in population age structure will require new social sensitivities and innovative policy responses. Demographic aging has implications for a wide range of human behavior, and researchers increasingly recognize the need for multidisciplinary approaches to the aging process. Since population aging entails many different consequences, it must become the subject of interdisciplinary studies.
 
Article
After the collapse of the Soviet Union, at the beginning of the 1990s, Georgia regained its independence and began the process of building a market economy. It went quite painfully and was compounded by internal and external conflicts. There were dismal failures and successes in the economy. In 2012, as a result of democratic elections, new forces came to power in the country. From then on, business was no longer subject to political pressure, confiscation of private property by the government and people close to it ended, the court was given the opportunity to make fair decisions, the medium-term program for socio-economic development was formulated, and more attention was paid to the development of economy’s real estate sector. The integration with the European Union has gained an irreversible nature: the growth rate of GDP hovered around 3% and the average annual inflation rate did not exceed 2-2.4%. Since 2008, the volume of foreign direct investment reached its highest level, export indicators significantly increased, the share of foreign trade in the EU increased, the employment rate increased 12.4% (from 16.3% in 2010), and the volume of state debt and the ratio to the GDP became stable. Particular attention was paid to the realization of social programs in the condition of small incomes and pension. Unfortunately, due to low incomes, a large part of the population is employed abroad, and the volume of their remittances is growing. According to the 2015 population census, there was a 17% reduction in population size. The integration into the European Union opens up new opportunities for the country, but only through hard work will it be possible to achieve the “economic convergence criteria.”
 
Distribution of preferential credits by components in 2013-2016 4
The amount of the loans disbursed in agricultural sector 5 (thousand GEL)
Article
The paper analyzes the agribusiness development indicators in Georgia and evaluates the growth tendencies in this field. The achieved results are not considered to be sufficient for ensuring a competitive production. The article provides the assessment of the role of agribusiness in economic growth and achieving social stability of the country. The hindering factors for the development of agribusiness are identified through expert evaluations and priority schemes. One of the most acute problems is considered to be limited access to cheap, long-term and affordable financial resources. The paper studies demand and supply structure of preferential agro credit and the factors affecting this structure. The possibilities of improving infrastructure capacities, introduction of modern technologies in production, development of integration processes for creation of added value in agribusiness by using preferential agro credit are substantiated. The paper provides conclusions and recommendations on the possibilities of development of agribusiness in terms of preferential agro credits, as well as on the improvement of credit disbursement mechanism and simplification of procedures.
 
Article
The necessity of the application of institutional theory to the concept of further development of the agricultural sector, which the most fully corresponds to the position of a systematic approach are defined in the article. The essence and importance of the institutional mechanism of the agricultural sector are characterized. The methodic of assessment of the institutional development of the agricultural sector are proposed and applied. The main problems of efficient functioning of the institutional mechanism of the agricultural sector of Ukraine are identified. The formation of strategy aimed at reforming of the institutional mechanism of the agricultural sector of Ukraine proposed as well.
 
Minimum Capital Needs for Briquetting Production
Forecasted Energy Consumption per annum
Article
There is no doubt that fossil fuels are expensive energy resources. Their use also leads to the environmental problems. Although there is a tendency of increase in renewable energy capacity, its share in global final energy consumption is relatively low. This paper aims to increase awareness of renewable energy role in corporation value creation. The research studies the potential of the use of agricultural biomass residues available for the company and evaluates several investment projects using the example of Geoagro ltd, and assesses their impact on company’s value. The paper also studies the feasibility of use of alternative renewable energies such as biomass and solar energy for company needs and finally assesses the profitability of the two. Regarding the methodology, the paper uses the standard financial valuation techniques such as Net Present Value and Internal Rate of Return in order to compare alternative investment projects. The results showed that the direct sell of biomass – hazelnut shells creates the highest value. While comparing the profitability of using alternative energies, it was showed that the best option is to eliminate natural gas use and switch to biomass fuel.
 
Rural-Urban Migration factors
Article
Nowadays, the migration of people to the cities is proceeding at historically unprecedented rates, especially in developing countries. A large part of the explanation of urbanization can be found in the economic stagnation of rural areas. Nowadays, more than 3 billion people over the world live in rural areas and a quarter of them in extreme poverty. Their absolute majority is involved in agricultural sector. In this paper we are going to discuss the main tendencies and dynamics of internal migration, what are the main fruits of urbanization and how does it influence on agricultural transformation.
 
Article
In the historical context of the social disorganization in both rural and urban areas following the conclusion of military operations in the First World War, as well as the various tensions between the different factions and political structures at that time, the Agrarian Reform Law was drawn up, marked both by a series of benefits and by insurmountable deficiencies, given the context of its conception. The final outcome was a major change in the way the land fund was allocated and a shift in the balance of economic, social, and political powers of the Kingdom of Romania. In this respect, it should be noted that while the need for a fairer distribution of the land fund had been called for time and again, the oppressive political regimes that came to power only sought to preserve their status quo, the old de facto and de jure states. The 1918-1923 period was marked by a series of political and economic events with historical relevance, as shown by the extensive literature dealing with this topic, concentrating on coordinates such as: the establishment of the unitary national state in 1918 and the enlargement of the socioeconomic patrimony of the Kingdom of Romania; the elimination of the census-type voting system; a firm commitment to the principles of democracy on the basis of a new fundamental organic law-the Constitution promulgated in 1923. In the opinion of many important authors, the crucial event of that era was the adoption of the legislation of the 1921 Agrarian Reform, namely the law-decrees with the definitive title.
 
-Evolution of arable areas farmed according to the rules and principles of organic agriculture in the North-East region  
-Evolution of land areas covered by pasture and hayfields according to the rules and principles of organic agriculture in the North-East region  
Article
The paper analyses the development of organic agriculture in the NorthEast Development Region of Romania, particularly during the current economic crisis. The organic agriculture sector represents a relatively new area of interest for farmers in Romania, as the first signs of organisation and utilisation of land and livestock according to organic farming rules and principles date back to 1997, when the first organic producers' association, known as " Asociaţia Bioterra " , was established. In recent years, organic farming has grown exponentially in Romania, the NorthEast Development Region being the main region in the country in terms of the number of registered operators, areas of organic pasture and total agricultural areas. About 20% of all organic farming activity was conducted, in 2013, in the counties in the NorthEast Development Region. Ecological farmers in Suceava county are among the promoters of this crop system in Romania, their number (2,000) being very high in relation to the number of farmers in the region and even the country overall, standing at about 13% in 2013. For the purposes of analysing the evolution of the organic farming sector in the NorthEast Development Region of Romania, official statistical sources were consulted and the reports of the Agriculture directorates of the counties of Bacău, Botoșani, Iaşi, Neamţ, Suceava and Vaslui. The findings demonstrate that organic agriculture in NorthEast Development Region of Romania is in a stage of consolidation, with the vast majority of agricultural land and of livestock farmed according to the rules and principles of organic agriculture are certified.
 
State aid in an agriculture, food and consumer protection sector in Germany in 2011-2014 (mln EUR) Source: (Deutscher Bundestag, 2013).
Article
Taxes in most EU countries are designed to financially support farms through lower tax rates. The preferential tax allowances and exemptions motivate farmers to undertake specific activities, in accordance with the main objectives of the agricultural policy. As a result of such activities, the agricultural sector receives additional support, which officially is not subject to public control, at the same time contributing to a considerable burden of EU budgets. The aim of the article is to evaluate the selected tax expenditures addressed to farmers, contained in the German personal income tax. The paper is an attempt to answer the question, whether the method for estimating income from agricultural production used in the German personal income tax law has an impact on reducing tax burdens of farm owners and what the consequences are for the agricultural sector, especially in the area of changes in the area structure of farms.
 
The tourist traffic indicators and the air transport indicators -Romania
The departure-number of aircraft correlogram
The determination and testing of the regression model
Determination and testing of regression model
Article
The role of transport services in the tourism sector is very important - the tourist is forced to travel in order to reach the destination. The current economic crisis has profound implications on the entire world economy, also affecting national economies. Transport and tourism are important industries of the national economy and their role in overall economic development should not be neglected. This paper intends to explore the implications of private air transport on the evolution of tourism in Romania. In order to see the relationships that exist between the two sectors, we will analyze a set of indicators that are important for the dynamics of these industries. It is worth analyzing the correlation degree between the tourist traffic indicators and some of the air transport indicators. In order to conduct these measurements, we will apply various econometric and statistical methods as the correlation coefficient and the regression method. The identification of these correlations is necessary for conceiving strategies of neutralization of negative effects or of enhancement of positive influences in relation to tourism evolution.
 
Article
Fake news has an extremely high impact on society, spreading quite simply and fast through social media, TV, internet, press, and other means of communication. The false news about the new coronavirus is blocked by the authorities, according to the decree for establishing a state of emergency. The misinformation of the population and the placement of fake news is two inevitable consequences in times of crisis, these being amplified by two other elements, which feed each other: fear of illness, which can cause deaths, but also uncertainty or lack of information on how to manage the crisis and what is involved. The need to stop the spreading of fake news, it's paramount and this paper proposes to recognizing truthful information from false information during the pandemic COVID-19 through a guide learning method. This guide implies a model for distinguishing false messages in the online environment, such as Machine Learning algorithms, which can have an accuracy of over 95%.
 
Article
In the case study, estimation, contributions and related issues of the hedonic valuation model in housing markets were analyzed by means of hedonic models developed for the Cukurambar Region in Cankaya District of Ankara Province. The marginal effect of housing characteristics on house prices were examined by the hedonic valuation model, and structural, environmental and spatial factors that affect value in the housing market were analyzed. In the case study analysis, the predictive performances and also, the results of the CLLS, stepwise regression and ANN models were compared with the Monte Carlo method, which is a model simulation technique, and the optimal model alternative in estimating the residential sales value was determined as the stepwise regression model. Although the use of spatial data in model increases the adjusted R², the conclusion is that the structural characteristics have a higher (46%) contribution over value compared to environmental and spatial characteristics.
 
-Comparison of information contained in the interim financial reports IAS 34 interim financial reporting does not specify the conditions under which there is a change in the end of the reporting entity's financial year. Thus, in paragraph 20 of IAS 34, it is necessary to present comparative information for the profit account, the statement of changes in equity, the statement of cash flows and for comparable periods. Consequently, in the preparation of the interim report based on the new end of the financial year, the company must submit comparative information for the same interim period, which could not have been the basis for the interim financial information previously reported. When a company is in a position to prepare the first interim financial report, unless the report concerns the first operating period, it should generally include comparisons as presented in the previous sections. In the exceptional situations where the company does not have available in accounting to record the financial information it needs to prepare the comparison of the interim financial statements, the company has no choice, it will have to omit the previous period from the comparative financial statements. In the circumstances described above, omitting comparative information is a violation of IAS 34 Interim Financial Reporting. Therefore, the interim financial report cannot be described as in accordance with IAS 34 Interim Financial Reporting, except for the omission of the comparative figures of the previous period. The main arguments in favour of preparing the semi-annual external interim reports, rather than the quarterly ones, are the following: 1. Quarterly reports are likely to be uncertain predictors of complete annual financial results due to seasonal factors that will not be successfully used by external users of financial statements; and 2. Many of the problems of allocating the costs for the period involved in preparing the interim reports can be alleviated in the half-yearly reports, but they are exacerbated when the quarterly reports are prepared. As a result, both the UK and Australia have chosen the discrete basis for preparing the half-yearly interim reports. On the other hand, the evolution of interim reporting in the United States from semi-annual to quarterly reports seems to be based on beliefs such as: 1. The benefits of completing the quarterly statements outweigh any problems of estimating the complete annual results from the quarterly reports; and 2. The problems of allocating the costs related to the period involved in the preparation of quarterly reports can be alleviated by preparing the interim report on a full basis. Thus, the APB Opinion no. 28 (AICPA) mandates the integrated approach, and this point of view was confirmed by the financial accounting standards in FASB Interpretation no. 18. Both views regarding the desired frequency of the interim reports are based on the demand of the capital markets regarding the confidentiality costs that reflect the fundamental values of the entities. Supporters of the quarterly reporting base observe that it is a great opportunity for the entity to evaluate its stocks as frequently as possible, thus making the economic results more current. Proponents of the half-yearly reporting base believe that the values estimated in the quarterly financial reports are perceived to be potentially misleading (in terms of estimation capacity and confidentiality limit), and prefer to delay the drafting of the interim report, in order to ensure greater accuracy of prediction. So, finally, it remains an empirical question whether capital markets are better supported / helped by quarterly or semi-annual interim reports? Regardless of the diversity of approaches to the synthesis accounting documents, in the opinion of most authors (Stefanescu, 2005), they represent the necessary database in the economic decisions made by the different categories of users.
Article
Our concern for the analysis of the annual and interim financial reporting was generated by the importance that each entity must give, which in certain periods of its activity is required to give it to this strategic source of information. In each entity questions arise regarding the usefulness of the annual and interim financial reports considering: their (relatively long) preparation time, their limited character and the resources to be allocated for their preparation. Finding a common solution to these problems and implicitly increasing the interest for financial reporting, especially interim, can contribute to increasing the economic performance of the entity, either by reducing unnecessary costs (waste) of time, or by increasing communication and transparency with third parties (creditors, customers, etc.), an appropriate management can act early in the direction of counteracting the negative effects in the activity of the entity or in the direction of preventing possible commercial or production failures, on the overall economic trends in the field in question and on increasing productivity. The article is a theoretical analysis of the annual financial reports versus interim financial reports, starting from international and national regulations, usefulness of comparative data, etc., underlining the particular importance of both types of reports.
 
Eye Fixation Data
Article
TO CITE: Boz, Hakan., and Yılmaz, Özer., (2017). An Eye Tracker Analysis of the Influence of Applicant Attractiveness on Employee Recruitment Process: A Neuromarketing Study. Ecoforum Journal 6(1)1-. Tourism sector is one of the largest service sectors in the world economy both in terms of revenues and the numbers of tourists involved. One of the structural problems in the Turkish tourism industry is the high level of labour turnover. This study aims to explore the role and influence of attractiveness/attractivity on the recruitment process in the tourism and hospitality sectors. The study particularly aims to measure the influence of attractiveness on the selection of job candidates by managers involved in recruitment. Particularly, the study aims explore to what extent managers act rationally or under the influence of Pavlovian conditioning in making their recruitment decisions. That is to what extent managers resort to heuristics, i.e. shortcuts regarding attractiveness of job applicants for backstage positions in a hotel. The study has used a neurological data gathering tool, the Eye Tracker (ET, to determine the influence of attractiveness on the recruitment decisions of managers in the hospitality sector .
 
Evaluation Matrix of the Risk Criteria (Factors) of the Fraud at the Audit Level of the Procurement-Payments Cycle
The Matrix of the Risk for Fraud and Error
Article
In the article hereby we analyse the matrix method of analysis of the risks for fraud and error at the level of the procurement-payments cycle. The risk of presentation of certain fraudulent information regarding the accounts of the procurement-payments cycle becomes more and more accentuated in the enhancement of the administration's wish to present financial indicators of performance. In these conditions, the auditor is to necessarily quantify the involvement of this phenomenon for the report of audit. As a consequence, the auditor is to evaluate the risk for fraud and apply additional audit procedures for identifying all the possible indicators for "remaking" the financial situations on the side of the accounts of suppliers, activity, as a last consequence of which may be a qualified opinion on audit.
 
Article
Work groups and work teams represents basic structures of traditional and modern organizations, and during the time they have been intensively researched. However, managers often do not always consider the fundamental differences between groups and teams, which will lead to unrealistic goals and results below expectations. Thus, in the present paper we propose a review of the main researching approaches on groups and teams (psychosocial, socio-technical, and behavioral approach), in the third part of the paper being detailed the fundamental differences between groups and teams in the light of these approaches.
 
Article
Content marketing is today's one of the most remarkable approaches in the context of marketing processes of companies. Value of this kind of marketing has improved in time, thanks to the latest developments regarding to computer and communication technologies. Nowadays, especially social media based platforms have a great importance on enabling companies to design multimedia oriented, interactive content. But on the other hand, there is still something more to do for improved content marketing approaches. In this context, objective of this study is to focus on intelligent content marketing, which can be done by using artificial intelligence. Artificial Intelligence is today's one of the most remarkable research fields and it can be used easily as multidisciplinary. So, this study has aimed to discuss about its potential on improving content marketing. In detail, the study has enabled readers' to improve their awareness about the intersection point of content marketing and artificial intelligence. Furthermore, the authors have introduced some example models of intelligent content marketing, which can be achieved by using current Web technologies and artificial intelligence techniques.
 
-Frequency of teleworking before the outbreak (%) Source: Authors' calculations based on LW-COVID-19
Perceptions regarding teleworking efficiency
Preferences for teleworking
Article
Suddenly and unexpectedly, many workers had to change their work location to home during the COVID-19 pandemic that emerged at the end of 2019. Swiftly, the line between work and personal life got blurred and the home became a working and an educational place. These changes had a thumping impact on the employees' way of living and working. The new way of working from home challenged Romanian employees' capacity to sustain their job satisfaction, the efficiency of work, and work-life balance. The study presents and analyses official results of two surveys by the "European Foundation for the Improvement of Living and Working Conditions" regarding Romanian employees' attitudes and perceptions about working conditions, performance and job satisfaction, subsequently experiencing telework activities during the pandemic crisis. The research findings reveal that even if the working hours increased a lot in the remote system, the respondents displayed their overall satisfaction and willingness to continue working from home.
 
Passenger numbers (2012-2017) Air services providers organize in-flight catering, e.g. dnata as a part of the Emirates umbrella organization is one of the world's largest providers. Corresponding to the rising number of passengers the amount of in-flight meals has doubled within the above-mentioned timeframe as shown in Fig. 2 (The Emirates Group, 2017).
In-flight meals (2012-2017)
Article
Due to the environmental challenges associated with the strong growth of plastic waste worldwide new grounds have to be broken. In public belief plastic is considered a practical, hygienic material that could be recycled into new plastic after use. However, disposed plastic is not recycled for the most part but is landfilled or used for waste-to-energy. Especially, the outcome of landfill is pollution and marine litter. Based on the plastic waste in the ocean, the problem of microplastic gains in importance. Through tourism-a critical factor-a growth of plastic waste can be registered, e. g. especially air traffic is highly dependent on efficient and easily disposed material. Plastic is the product of choice. Exemplified on a closer examination of one airline makes already almost 45 millions passengers, whose meals and beverages come with plastic. So, aviation includes substantial waste-saving potential throughout different alternatives to avoid plastic. The authors show the actual situation and demonstrate ways to reduce plastic waste in the context of economic efficiency. The conclusion bears the most eco-friendly alternative for air traffic and gives an outlook on further research.
 
Article
In the former Soviet Union the economy of the Georgian Republic occupied advanced positions. At the very first stage of the restoration of independence the post-Soviet Georgia's economy declined 3-times; in the following years, the situation improved, but it reached the 1990 level only after 15 years. In spite of difficult problems of development it should be singled out the middle period progress of the 90-ies when the country introduced a new currency-Lari, created conditions for attracting foreign investments, economic growth was expressed in double-digit figures; it created an independent banking system, rapidly implemented the program of privatization, strengthened the links with international financial organizations and others. By this time, the private sector's share in the state budget revenues was already 80%. After the end of the 90-ies, in a few years, economic reforms stalled. After the " Rose Revolution "-until 2012, the development of economy was greatly influenced by tightened administrative methods, foreign loans, foreign investment, and so forth. Unfortunately, at this stage of development, a property encroachment for the government became common practice in such a way as pressure on business. In recent four years, more attention was paid to the actual development, deepening of integration with European Union, the governmental pressure on business was removed. However, because of the lack of jobs, labour force continues to flow abroad.
 
Article
Doctrines which substantiated introduction of market economy elements and priority of development of real sector, e.g. industry, on certan stage of the development of national economy have held an important place in the history of economic thought. Classics were the very first to develop such doctrines. (Silagadze, A., 1996, 2000, 2001, 2006-2016; Силагадзе, А.: 1991, 2009-2013, 2016; Kharitonashvili, J., 2008; Silagadze, A., Atanelishvili, T.: 2006-2007, 2010- 2011, 2013-2014; Силагадзе, А., Атанелишвили, Т. 2010). The issue was quite challenging on the first stage of building of capitalism in Georgia (19th century). Niko Nikoladze, a Georgian public figure (1843-1928), emphasized the high priority of the issue in those times. (Nikoladze, N.: 1960-2003, 2006; Gamezardashvili, D., 1983; Janelidze, O., 1998; Silagadze, A., (Editor), Atanelishvili, T., Goshadze, G. (Edit.), Demetrashvili, T., Zurabishvili,V. (Edit.) - 2005; Silagadze, A., Atanelishvili, T., 2004). His attitudes are still important in post-Soviet Georgia which heavily depends on import. The fact is that instead of using rich local resources, Georgia tends to import goods which the country has a real ability to produce itself. Poor development of real sector of economy has remained an Achilles’ heel for years. Tourism is a priority for the country, but during economic crises touristic flows stop and if there is no alternative, the country will face a deep crisis. (Tvalchrelidze, A., Silagadze, A., Keshelashvili,G., Gegia, D., 2011; Силагадзе, A.Н., Сидоров, В.А., Ядгаров, Я.С.: 2016). According to the conclusion made in this article, Niko Nikoladze’s doctrine which complies with “classic” attitudes, also complies with both “classic” and national economic doctrines of Germany. It also complies with Ilia Chavchavadze’s economic doctrine with the difference that Ilia believed that agriculture was of highest priority while Niko Nikoladze believed industry to be the most important. In general, his economic doctrine implies priority development of national industry, deepening of west-east sea and railway ties, construction of ports, supporting export, careful demilitarization, and improvement of market mechanisms of price formation, etc.
 
Article
The article provides consideration of the legal framework for protection of the unique resource – water in Georgia, as well as the public awareness in this area. Author of the article positively evaluates the fact that Georgia, on its way of independence, has adopted the Law on Water much earlier than Association Agreement was made. Currently the new law is under development that, supposedly, will duly consider the requirements of Association Agreement. The author gives negative evaluation to the fact that quite significant part of the respondents does not properly know water legislation and expresses opinion about necessity of activation of the state authorities’ work.
 
Article
Consumption theory and analysis of consumption function are the keys in macroeconomics. It is important for the analysis of the function of savings and hence for the investment resources, long-term economic equilibrium and short-term economic fluctuations, for the analysis of conditions and multiplier effect, so consumption theories have fiscal and monetary components that influence in the efficiency of economic policy development or implementation. During the planning of the government's economic policy, the significance of the consumption theory and consumption function has long been an object of the research of economists. According to the history of the economy in many cases, the very changes occurred in consumptions had been the major precondition of the economic crisis. Present research analyzing fiscal and monetary aspects of consumption in economic theories developed by different economic school representatives as well as the importance of consumption expenditure fluctuation for sustainable economic growth.
 
Descriptive statistics of leadership styles and dimensions
Collinearity statistics
Article
The purpose of the research is to empirically evaluate leadership behavior of managers, focusing on transformational vs. transactional leadership at the same time exploring the relationship between emotional intelligence and transformational leadership in a specific economic and cultural setting, as the Republic of Macedonia. Questionnaire-based survey on managers at different management levels in Macedonian companies was conducted in order obtain the data necessary for evaluating the leadership styles and testing the proposed hypotheses The data was analyzed using descriptive statistics and hierarchical regression analysis. Results indicate that leaders in Macedonian companies show higher affection towards transformational leadership. The ability to perceive and understand emotions and the ability to manage emotions have a positive impact on transformational leadership style. As a theoretical and practical implication of research, we aim to generalize the idea for the positive relationship between the emotional intelligence and transformational leadership by confirming the applicability of the model that examines this relationship in the case of the Republic of Macedonia Key words: emotional intelligence, Republic of Macedonia, transformational leadership, transactional leadership.
 
External Trade Indicators of Georgia, million $
Exports of Georgia to CIS countries, mln $
The share of CIS countries (%) in the total export of Georgia
The share of import from CIS countries in Georgia (%)
The share (%) of the CIS countries in the total imports of Georgia.
Article
The paper emphasizes that (an associate member since 2005), Ukraine (withdrew from the organization in 2018) and Georgia (withdrew in 2009, 1993). On August 26, 2005 Turkmenistan refused to be a full member and now it is an associate member. Initially, the maintenance of traditional economic ties was very important for the post-Soviet countries included in the CIS. Soon it became clear that Russia used the CIS to strengthen its influence on its member states. Because of this, some countries, including Georgia, left the "Commonwealth" and expressly chose the European course. Nevertheless, up to date foreign trade, on the free basis, plays an important role in Georgia's economic development. According to the conclusion made in the paper: Georgia's export to the CIS countries is much higher than to the EU countries-despite the increase of the share of the EU countries in recent years. According to the data of 11 months of 2018, the CIS countries-Azerbaijan, Russia and Armenia occupy 1-3 places of the five largest export countries of Georgia. Import of Georgia from the CIS countries in 2003-2017 increased 6.7 times; in Georgia's total import from the CIS countries in 2017 Russia had the highest percentage-23.3%, Azerbaijan-16.2% and Ukraine-13.5%. In spite of difficult political relations, trade between Georgia and Russia did not cease: increased both exports and imports indicators. In addition, the difference between them is 2 times more for Russia; the CIS countries are important partner countries for foreign trade, including a large partner-the Russian Federation, but its market is often unstable due to political pressure (it does not fulfill its commitment to WTO membership), which further accelerates Georgia's foreign markets diversification.
 
Article
The 25 year period of transition in newly independent post-USSR states did not bring either of them to a desired target – mid-European level of economy. Against this sad background China represents a unique example of successful economic reforms, which lead to rapid economic development and accelerated increase of leaving standards. In spite of structural and legislative changes, the success of China’s economic reforms was determined by extensive industrialization based on downstream processing of national and imported primary commodities. Privatization in this sector and support of private businesses was expressed by creation of corresponding financial instruments and, first of all, by foundation of commodity exchanges of the global importance. The phase of extensive economic development has not been finished in China yet, however, such extensive development cannot be sustainable for more than 8-10 years, and the greatest challenge for China will be a step-by-step construction of a post-industrial economy and society in coming years. Example of China may show a guideline for the newly independent states: only synergetic amalgamation of, on one hand, a civil society and, on the other hand, sustainable exploitation of national natural resources and downstream processing of national primary commodities may ensure irreversible merging of newly independent states into the civilized world. Key words: Newly independent states; China; GDP; primary commodity; downstream processing; economic growth.
 
Article
After the collapse of the Soviet Union, foreign debt in the newly formed states is systematically rising. For example, the volume of the state debt of Georgia increased especially in 2003-2012: government sector - 2.8 times and the national bank - almost twice. In the same period of time, the total external debt volume increased by 4,7 times; in 2013-2016 the corresponding indicators were: 1.2, - 0.7 and 1.3. Especially in 2003-2012 external debts continued to grow in both public and private sectors (commercial banks, inter-companies loans ...). Most of the state external debts were spent on improving the infrastructure, and the real sector of the economy used minimal amounts. Through the similar approaches there are mainly created new seasonal jobs. Throughout the years, in Georgia the growth of the total debts, including the state foreign debts, was followed by the increase of percentage indicators of debts growth in GDP which exceeded the growth rates of the economy. Under such conditions, national economies have difficulty paying off debts. According to the study in 2016 the percentage share of the gross external debt in GNP is the highest in Ukraine, then in Georgia and in Moldova. By these indicators In 2012, Georgia was the "leader" country; paying off external debt is rather difficult in transformational economy: In order to cover the gross external debt, Georgia will have to pay more than $ 5 million in the next one year. More than $ 0.5 billion - to pay off debts received by state and state guarantees, which is more than 35% of the GDP in 2016; foreign debt is a rather heavy burden for the countries with transitional economies, but without it the successful implementation of economy is impossible, but it is important to increase the interest earned by the debt and to create new jobs on this basis.
 
External Trade Indicators of Georgia, million $
Exports of Georgia to CIS countries, mln $
The share of CIS countries (%) in the total export of Georgia
The share of import from CIS countries in Georgia (%)
The share (%) of the CIS countries in the total imports of Georgia.
Article
The paper emphasizes that (an associate member since 2005), Ukraine (withdrew from the organization in 2018) and Georgia (withdrew in 2009, 1993). On August 26, 2005 Turkmenistan refused to be a full member and now it is an associate member. Initially, the maintenance of traditional economic ties was very important for the post-Soviet countries included in the CIS. Soon it became clear that Russia used the CIS to strengthen its influence on its member states. Because of this, some countries, including Georgia, left the "Commonwealth" and expressly chose the European course. Nevertheless, up to date foreign trade, on the free basis, plays an important role in Georgia's economic development. According to the conclusion made in the paper: Georgia's export to the CIS countries is much higher than to the EU countries-despite the increase of the share of the EU countries in recent years. According to the data of 11 months of 2018, the CIS countries-Azerbaijan, Russia and Armenia occupy 1-3 places of the five largest export countries of Georgia. Import of Georgia from the CIS countries in 2003-2017 increased 6.7 times; in Georgia's total import from the CIS countries in 2017 Russia had the highest percentage-23.3%, Azerbaijan-16.2% and Ukraine-13.5%. In spite of difficult political relations, trade between Georgia and Russia did not cease: increased both exports and imports indicators. In addition, the difference between them is 2 times more for Russia; the CIS countries are important partner countries for foreign trade, including a large partner-the Russian Federation, but its market is often unstable due to political pressure (it does not fulfill its commitment to WTO membership), which further accelerates Georgia's foreign markets diversification.
 
Article
One of the key areas of economic reform since Georgia's independence was the reform of the state procurement system. The process of the reform brought Georgia closer to international procurement standards. For this purpose, a regulatory legislative framework for public procurement has been established and its principles put into practice. The reform of the state procurement system in Georgia was implemented with the support of the World Bank, the United Nations and other international organizations. This system is still being refined. Various scientists are doing research on these problems. [1-34]. In this research, after analyzing the pros and cons of the public procurement system, we can conclude: Proper public procurement policy enables the country to manage its public finances in a rational, transparent and competitive environment, which promotes the development of the local business, the creation of new jobs and eventually the growth of the economy.
 
Top-cited authors
Tamaz Zubiashvili
  • Ivane Javakhishvili Tbilisi State University
Tamar Atanelishvili
  • Ivane Javakhishvili Tbilisi State University
Alexandru Nedelea
  • Stefan cel Mare University of Suceava
Mivheil Chikviladze
  • Ivane Javakhishvili Tbilisi State University
Levani Silagadze
  • Ivane Javakhishvili Tbilisi State University