The Budget Funding of the Public Higher Education in Some European Countries

This comparative study concerning public superior education system finance has been accomplished in order to highlight the main public superior education system financing mechanisms used in a few European countries considering a financing future model projection, able to make the public financing allocation for superior educational system more and more efficient. In the past, in Europe, the financing mechanisms had been involving negotiations between the public or private superior education institutions on the allocated funds, their calculation on the real costs supported by institutions and grants awarded, divided on budgetary categories. Nowadays, the public superior educational system financing mechanisms had suffered important kind of changes, if we consider the granted sums calculation formulas, as well as the measures for correlation of public financing quantum with the financed university performance. Each financing model presents strong points as well as weak ones, as there isn’t any perfect financing model which can be adapted to any country, because the choosing of the model usually implies a compromise between the different objectives that have to be reached by the higher education. Owed to public superior educational system financing system analysis from a few European countries (Romania, Great Britain, France, Denmark,), we may conclude that a perfect adaptable financing system for each European country doesn’t exist; the adaptability degree of these mechanisms depends on a different factors number, of a historic, social, legal, political and economical nature.Superior Education System financing, financing mechanisms, financing on formulas, performance criteria, input criteria, performance contract

BASES OF STATE SUPERIOR EDUCATIONAL SYSTEM FINANCING FROM ROMANIA

This study concerning state superior educational system financing comes to emphasize the main state superior educational system financing forms from Romania, looking forward to find new future state superior educational system financing forms. Romanian educational system reduced financing imposes a special attention for educational process, concerning both quality and, especially, an appropriate financing level endowment. For the future of academic education, it is vital to be found new financing sources, because a composite, diversified financing leads to the raise of total amount of resources at the service of universities, to their freedom degree, too, making them capable to undertake the constraint imposed by the dependence of a solely financing source.the financing of the academic education, private funds financing, public fund financing, public funds usage surveillance.

Modern Risk Management Strategies for the Romanian State Treasury

This paper is exploring the introduction and modernization of corporative governance in public institutions, specifically in the Romanian State Treasury, by standardizing the risk evaluation in audit (RBIA). The authors are considering that achieving results in the country's progress is impossible by only implementing imported external solutions - for optimal results adjustments to internal and external historical characteristics and local interests are required. This requirement is reinforced by analyzing the economical devlopments that have taken place during the last 20 years (since migrating the economy from a centralized state to free markets), which also supports the authors' premise that further significant development is possible if the proper methods are put in place

Modern Risk Management Strategies for the Romanian State Treasury

This paper is exploring the introduction and modernization of corporative governance in public institutions, specifically in the Romanian State Treasury, by standardizing the risk evaluation in audit (RBIA). The authors are considering that achieving results in the country's progress is impossible by only implementing imported external solutions - for optimal results adjustments to internal and external historical characteristics and local interests are required. This requirement is reinforced by analyzing the economical devlopments that have taken place during the last 20 years (since migrating the economy from a centralized state to free markets), which also supports the authors' premise that further significant development is possible if the proper methods are put in place

HOW IMPORTANT IS MONEY AS AN INCENTIVE TO MOTIVATE EMPLOYEES IN HIGHER EDUCATION SECTOR? LITERATURE REVIEW

This paper studies the influence money has on motivating the work force which takes part on both dull and creative tasks. Through a review of the most important findings on the subject, economists’ and psychologists’ theories are presented and discussed. The paper shows how, notwithstanding their high attention received from the business environment in the past, the principal-agent and the price effect theories are being replaced lately with the self determination, psychological contract and reinforcement theories in the configuration process of work incentives. Specific advantages and disadvantages of the use of financial motivators for increasing work performance are further examined and a clear example of how money and more specifically their perception affects the employees’ motivation is given. The results of the study conclude that money has an important role as a hygienic factor in the work environment but they do not represent a panacea for inducing high work motivation and are not enough for assuring the overall success, whether that we are talking about repetitive or creative activities. The late ones are exemplified by the tasks specific to the higher education sector

Modern Risk Management Strategies for the Romanian State Treasury

This paper is exploring the introduction and modernization of corporative governance in public institutions, specifically in the Romanian State Treasury, by standardizing the risk evaluation in audit (RBIA). The authors are considering that achieving results in the country's progress is impossible by only implementing imported external solutions - for optimal results adjustments to internal and external historical characteristics and local interests are required. This requirement is reinforced by analyzing the economical devlopments that have taken place during the last 20 years (since migrating the economy from a centralized state to free markets), which also supports the authors' premise that further significant development is possible if the proper methods are put in place.governance, risk, evaluation, management, audit, analysis

THE ROLE OF INNOVATION IN ECONOMIC GROWTH – AN OVERVIEW OF THE GROWTH MODELS INCLUDING INNOVATION

The main purpose of this paper is to present the concept of innovation in the context of the economic growth process. First a definition of the concept is offered together with its typology. The Schumpeterian perspective on innovation is brought in discussion, as the Austrian economist is the first notable scholar to have addressed this issue with connection to the economic growth process. The paper uses secondary data to argue the liaisons between innovation and economic growth. As the “creative destruction” comes from inside the system, being an internal factor, two endogenous growth models are analysed. The result of the study is that innovation is correlated with economic growth, the volume of research activities and their results influencing the level of economical advancement

ECO - EFFICIENCY - DRIVER OF SUSTAINABLE DEVELOPMENT STRATEGY

The issue of eco - efficiency has gained particular importance in economic theories relating tosustainable development. The acceptance of the sustainable development definition stipulated in the BrundtlandReport (Our Common Future) in 1986 was a key moment in triggering massive approaches to environmentalissues, closely related to economic growth and social inclusion. The complementarity, interaction and theintensity of influence of the three pillars of sustainable development (economic - social - environment) led tomajor changes in the priorities and report those pillars, yielding a current of thought that gives a fundamentalrole to the ecological pillar. This background led to the emergence of several new paradigms, namely eco -economy and green economy, eco - innovation, eco - technology, cross - industry, eco - efficiency etc

DINAMICS OF THE ENTREPRENEURSHIP CONCEPT. LITERATURE REVIEW

The purpose of this theoretical paper is to analyze the concept of entrepreneurship while following the approaches taken by scholars over time in this field of research. Four entrepreneurship theories which are relevant for the analysis and practice of entrepreneurship will be explained and compared. In a continuously and rapidly changing world, like the one today, information and knowledge seem to be of most interest for entrepreneurs. The current central element of entrepreneurship within the academic world is considered to be the notion of opportunity. Nonetheless, this has not always been the situation in entrepreneurship research and as a result, during this paper I will follow the evolution of entrepreneurship as a concept and I will point out a series of findings relevant for its analysis and practice. Consequently, I have considered choosing two theories focused on the notion of opportunity, namely Drucker’s theory of entrepreneurship and Burt’s theory of entrepreneurship. Additionally, I have used Schumpeter’s theory of entrepreneurship because of its major influence over both the theoretical and practical aspects of entrepreneurship and von Hayek’s theory of entrepreneurship because of its role in signalizing the significance of practical knowledge within the research of entrepreneurship. Each of these four theories is analyzed and strengths and drawbacks are pointed out. The comparison which resumes the paper takes into consideration the theories authors’ profiles, their backgrounds and the moment in time when the theories have been stated. It will be possible for the reader to observe that the concept of entrepreneurship has changed in time and implicitly the trend in entrepreneurship research has altered from a theoretical approach to a much more practical one. The main driver for this change was the business environment, which was forced to continuously search for improvement measures in order to survive. These improvement measures relied always on discovering new opportunities and therefore, nowadays the scholars worldwide consider the notion of opportunity to be the paramount element of entrepreneurship

CAN THE ENTERPRISE ACHIEVE BOTH SUSTAINED PROFITABILITY AND ECONOMIC GROWTH?

This paper focuses on the presentation, at the enterprises level of two primary objectives:its profitability and economic growth, on the grounds that everyone can choose one or theother. Achieving a sustained profitability and growth is difficult, but possible forenterprises that take account of continuous renewal. Achieving one or more goals meansfor the enterprise implementation of financing decisions that require a financing plan. Inorder to emphasize the importance of establishing long term business objectives referringto profitability or growth, that would give financial autonomy; we built a regressionmodel using Pooled Least Squares method