THE USE OF THE MULTI-FACTORIAL GRID IN THE SELECTION OF THE ENTRY STRATEGIES OF OMV AG IN THE ROMANIAN MARKET

The foreign market entry is a strategic choice of any company. The firms use a practical approach in order to select and utilize the most appropriate market entry strategies and modes. This paper aims at showing how the multi-factorial grid can check up ttarget-market, entry strategies and modes, multi-factorial grid, competition capability of the company, market attractiveness

FAILING STATES – THE IMPACT OF GOODS AND SERVICE TRADE LIBERALIZATION

Any taxpayer lives with the feeling of being stolen when it finds that tax revenues are not used effectively and corruption is prevalent everywhere. Tax psychology appears often as an explanation of tax payers’ behavior in relation to taxation. This paper aims to underline the disparity between the degree of verbal fiscal morality declared by the Romanians in international surveys (World Values Survey) and the degree of factual fiscal morality provided by annual reports of National Tax Administration Agency of Romania. Results of the survey undertaken at the international level cannot be extrapolated to the complex territorial space with millions of working individuals and corporate taxpayers. While the tax authority figures indicate an increase in the number of taxpayers checked, a rise in the number of illegal activities and an increase in the value of sanctions applied.tax morale, tax evasion, tax cheating

ISSUES RELATED TO THE ACCOUNTING TREATMENT OF THE TANGIBLE AND INTANGIBLE ASSETS DEPRECIATION

The issue of accounting depreciation is an older concern of this study's authors on the incidence over the true and fair view of the earning and the net value of the non- current assets. Proceeding from the consideration that the present depreciation methods, acknowleged by the accounting standards and regulations are not sufficient to render the reality of the irreversible impairment of the fixed assets nor that of the material and immaterial investment recovery we performed a research on the indicators reported by 20 companies in Cluj county and we applied a questionnaire to each entity on the depreciation methods used, their incidence on the true and fair view and their proposals for the completion of the depreciation methods. The objective of the research is to identify the most appropriate depreciation methods, truthfully illustrating the effects of the irreversible impairment on the net asset and on the earning, to introduce the excluded assests in the cathegory of the non-current assets ( like property and plant, goodwill, intangible assets created with ones own strengths) and the enforcement of appropriate treatments to the revaluation differences and their own overhead investments. The International Accounting Standard IAS 16 - Property, plant and equipment refers to three depreciation methods: the straightline method, the diminishing balance method and the technical depreciation method (units of production method). In Romania only two of these methods are accepted: the straightline method, the diminishing balance method and the accelerated method was additionally instilled, which is used internationally in exceptional situations and not currently. The results of the research led us to the following conclusions: - for the depreciation of the machinery, facilities and technological equipments it is recommended to use the technical depreciation method or the units of production method;  taking into consideration the financial conception on the non-current assets the depreciation of all cathegories of tangible and intangible assets is recommended, the purpose being the gradual recovery of the investment in these assets and not the covering of the wear and tear or obsolescence; - the surplus value resulted from the revaluation of the tangible assets musn't be depreciated because it generates in fictional expenses; - the depreciation of the overhead assets musn't be acknowledged as an expense but it should be treated as a reduction in the income resulting from fixed assets;  the completion of the depreciation concept with its financial meaning, namely the process of recovering the investments in tangible and intangible assets; The application of the research results leads to correcting the image provided by financial reportings on the tangible and intangible assets contribution to the income, the depreciation's reflection in the expenses and the net value of these assets. The contribution of the authors consists in interceding to ensure the application of the research results by modifying and completing the national accounting rules in order to achieve accounting's consecrated objective: reproducing a true and fair view on the financial position and performances. These issues have not been addressed in other specialty studies in the country or abroad.irreversible depreciation, accounting depreciation, technical depreciation depreciation, provision for positive reevaluation diferences

STRATEGIES FOR HIGHER SATISFACTION OF THE ROMANIAN BANKING CUSTOMERS

A bank must identify, assesses and clearly and fully understands customers’ values and expectations if it’s target is their higher satisfaction. The banking customers are expecting to receive individual attention and support and good quality banking prodcustomer values and expectations, customer satisfaction, customer care, banking product model, banking service

STRATEGIES FOR HIGHER SATISFACTION OF THE ROMANIAN BANKING CUSTOMERS

A bank must identify, assesses and clearly and fully understands customers’ values and expectations if it’s target is their higher satisfaction. The banking customers are expecting to receive individual attention and support and good quality banking pro

Neural networks as nonlinear dynamical systems

The Recurrent Neural Networks (RNNs) represent an important class of bio-inspired learning machines belonging to the field of Artificial Intelligence. Due to the cyclic interconnections between the artificial neurons and of the activation functions, RNNs are nonlinear dynamical systems. From the point of view of the field of Dynamical Systems, a specific feature of RNNs is that their state space may consist of multiple equilibria, not necessary all stable. Thus, the usual local concepts of stability are not sufficient for an adequate description. Accordingly, the analysis have to be done within both the framework of the Stability theory and the framework of Qualitative theory of systems with several equilibria. The presentation firstly focuses on the main structure and features of the human brain, that which have been taken into account for deriving the artificial simulators of its functions. The second part presents the basics for linear and nonlinear dynamical systems including the main concepts of stability – both for local equilibrium and for the global behavior of the system – as well as, the powerfull tool of Lyapunov-like methods used for systems’ analysis. In the third part, different models of RNNs are considered (Hopfield, competitive Cohen-Grossberg, Bidirectional Associative Memory, Cellular Neural Networks, K-Winner-Takes-All networks) and discussed within the framework of the Dynamical Systems.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tec

THE USE OF THE MULTI-FACTORIAL GRID IN THE SELECTION OF THE ENTRY STRATEGIES OF OMV AG IN THE ROMANIAN MARKET

The foreign market entry is a strategic choice of any company. The firms use a practical approach in order to select and utilize the most appropriate market entry strategies and modes. This paper aims at showing how the multi-factorial grid can check up

THE REGIONAL DISPARITIES OF THE FDI IN ROMANIA

Following the collapse of communism, the countries of Central and Eastern Europe, have been forging strategies to attract foreign capital as a way of achieving sustained economic growth (Martin and Velăzquez, 2000). Foreign direct investment by multinational corporations plays an important role in the transformation of former centrally planned economies into vibrant market systems, since it provides an inflow of capital, management skills, and jobs, alongside increasing exports and transfer of technology. It is also perceived as one of the conditions paving the way for improving the competitiveness of the economy and enhancing the provision of goods and services for the domestic market. With the implementation of global and regional strategies by multinational corporations, the choice of location is becoming increasingly important, hence requiring a better understanding of the internationalization process and of the factors influencing the spatial distribution of FDI. There are substantial differences in economic performance across regions in virtually every nation. This suggests that many of the essential determinants of economic performance are to be found at the regional level (Porter, 2003, p.550). In this paper we shall make an analysis of regional disparities of the FDI in Romania using the data provided by the National Trade Register Office of Romania for the period 1991-2008 and National Institute of Statistics.foreign direct investments, regional disparities, multinational corporation, economic development

Finite element method applied in mine pressure computation within the context of rock massif – support system interaction

Purpose. The analysis of the current underground mine workings, both those that are in operation and works located within the mining perimeters where activity was stopped, is leading directly to the problem of stability, i.e. safety. The aim of the paper is the stability analysis of underground workings located in strongly metamorphosed andesite and determination of mine pressure in the context of rock – support system interaction was made based on numerical methods, taking into account the effects of inhomogeneous stresses, anisotropy of rocks, and time. Methods. Numerical – based finite element method was applied to obtain the stress variation radial displacement and mine pressure epures for the analyzed mine workings. To assess the stability of underground mine workings, a mathematical model was developed based on the principle of proper conformity and safety level, according to the main factors that influence the stability of underground workings. Findings. The results obtained showed that underground workings analyzed are characterized by a low stability level, which is consistent with the results obtained by the observations and numerical method. Depending on the computed level of safety has been established correspondence to class stability of underground mine workings. The results are confirmed by in situ observations and solutions obtained by experiments. Originality. The patterns of the stress-strain state change in the context of rock – support system interaction for horizontal galleries located in strongly metamorphosed andesite. Practical implications. The research results will facilitate to improve stability of mine workings and to significantly increase the safety level throughout their entire life – cycle.Мета. Аналіз стійкості підземних гірничих виробок, пройдених у сильно метаморфізованому андезиті, за допомогою чисельних методів моделювання. Визначити характер впливу гірського тиску з урахуванням взаємодії у системі “породний масив – кріплення”, впливу неоднорідних напружень, анізотропії порід і часу. Методика. Чисельний метод кінцевих елементів використовувався для розрахунку радіального зміщення різних напружень і побудови епюри напружень для аналізованої шахти. У якості критерія міцності прийнята гіпотеза Кулона-Мора, узагальнена Друкером-Прагером відповідно до припущень Рейеса. Стійкість підземних виробок оцінювалася за допомогою математичної моделі, яка була створена на основі принципу необхідного рівня конформності та безпеки, відповідно до основних факторів, що впливають на стійкість підземних виробок. Результати. Результати, отримані у ході спостережень і чисельними методами, свідчать про низький рівень стійкості аналізованих підземних виробок. Встановлено, що зі збільшенням поперечного перерізу виробки і глибини її залягання радіальні напруження зростають від контуру до масиву, досягаючи більш низьких значень у порівнянні з напруженим станом в масиві, чим і пояснюється погіршення стійкості виробок. Визначено фактори, за якими оцінена стійкість виробки: рівень відповідності (NC), рівень безпеки (NS) і ступінь невідповідності (GC) на основі отриманої оцінки (PO) та максимальної оцінки (PM). Рекомендовано використовувати у сильно метаморфізованому андезитовому типі порід не жорстке бетонне кріплення, а кріплення з вантажонесучою здатністю, що поступово збільшується. Наукова новизна. Розкрито механізм деформування системи “масив – кріплення” у сильно метаморфізованих андезитових породах. На основі нового математичного підходу до оцінки стійкості виробок встановлено відповідність між критерієм безпеки NS і класом стійкості гірничих виробок. Практична значимість. Результати дослідження сприятимуть поліпшенню стійкості гірничих виробок і значно підвищать рівень виробничої безпеки протягом всього періоду їх експлуатації.Цель. Анализ устойчивости подземных горных выработок, пройденных в сильно метаморфизованном андезите, с помощью численных методов моделирования. Определить характер влияния горного давления с учетом взаимодействия в системе “породный массив – крепь”, влияния неоднородных напряжений, анизотропии пород и времени. Методика. Численный метод конечных элементов использовался для расчета радиального смещения различных напряжений и построения эпюры напряжений для анализируемой шахты. В качестве критерия прочности принята гипотеза Кулона-Мора, обобщенная Друкером-Прагером в соответствии с предположениями Рейеса. Устойчивость подземных выработок оценивалась при помощи математической модели, которая была создана на основе принципа необходимого уровня конформности и безопасности, в соответствии с основными факторами, влияющими на устойчивость подземных выработок. Результаты. Результаты, полученные в ходе наблюдений и численными методами, свидетельствуют о низком уровне устойчивости анализируемых подземных выработок. Установлено, что с увеличением поперечного сечения выработки и глубины ее заложения радиальные напряжения возрастают от контура к массиву, достигая более низких значений по сравнению с напряженным состоянием в массиве, чем и объясняется ухудшение устойчивости выработок. Определены факторы, по которым оценена устойчивость выработки: уровень соответствия (NC), уровень безопасности (NS) и степень несоответствия (GC) на основе полученной оценки (PO) и максимальной оценки (PM). Рекомендовано использовать в сильно метаморфизованном андезитовом типе пород не жесткую бетонную крепь, а крепь с постепенно увеличивающейся грузонесущей способностью. Научная новизна. Раскрыт механизм деформирования системы “массив – крепь” в сильно метаморфизированных андезитовых породах. На основе нового математического подхода к оценке устойчивости выработок установлено соответствие между критерием безопасности NS и классом устойчивости горных выработок. Практическая значимость. Результаты исследования будут способствовать улучшению устойчивости горных выработок и значительно повысят уровень производственной безопасности в течение всего периода их эксплуатации.This work was developed from a theoretical and experimental study on the stability analysis of underground workings located in strongly metamorphosed andesite and determination of mine pressure in the context of rock – support system interaction. We thank to our colleague dr. Gabriel Băbuţ for his assistance and support in developing the mathematical model based on the principle of proper conformity and safety level, according to the main factors that influence the stability of underground workings. We would also like to show our gratitude to the University of Petrosani which provided the necessary equipment to perform all laboratory tests in prior experimental researches leading to the results synthesized in this article

THE EVOLUTION OF FDI IN ROMANIA DURING THE PERIOD 1990-2009

FDI is a key factor for economic modernization through changes in production patterns, technology transfer and greater competition pressures. In the latest years, Romania has benefited from important FDI flows, mainly due to the privatization process, but also due to the advantages of cheap labor force and a big internal market. From the beginning of the transition period, Romania went through a rapid opening-up process of its economy, which has resulted, among others, in attracting significant foreign direct investment (FDI). The presence of foreign firms has grown significantly, which is a sign of increasing economic integration. In this paper we shall make an analysis of the FDI evolution in Romania using the data provided by the National Trade Register Office of Romania for the period 1990-2009 and National Institute of Statistics.economic development regions, regional disparities, foreign direct investments