An Econometric Analysis of the Operating Profit of Romanian Companies

This paper aims to contribute to the empirical literature by employing a panel data model for analysing the connection between operating profit of Romanian companies and the turnover, tangible assets, payrolls, stocks and cash. We find that the companies with a higher turnover recorded better economic results and an increased payroll is associated with a decline in economic performance. Likewise, companies that have the cash and / or tangible assets registered superior performance, while growth in stocks is accompanied by lower economic performance of the companies. Sectorial data confirm these results.panel data model, operating profit, turnover, tangible assets, payrolls, stocks and cash

SOLUTIONS FOR MEASURING THE FAIR VALUE OF THE WORKFORCE

For the past decades International Accounting Standards and other Anglo-Saxon standards, for example the American ones, had promoted fair value as a valuation basis for the elements of the financial statements. Thus, the quality of the financial informatifair value, workforce, employee benefits, share options

C∗C^*-algebras and Fell bundles associated to a textile system

The notion of textile system was introduced by M. Nasu in order to analyze endomorphisms and automorphisms of topological Markov shifts. A textile system is given by two finite directed graphs $G$ and $H$ and two morphisms $p,q:G\to H$, with some extra properties. It turns out that a textile system determines a first quadrant two-dimensional shift of finite type, via a collection of Wang tiles, and conversely, any such shift is conjugate to a textile shift. In the case the morphisms $p$ and $q$ have the path lifting property, we prove that they induce groupoid morphisms $\pi, \rho:\Gamma(G)\to \Gamma(H)$ between the corresponding \'etale groupoids of $G$ and $H$. We define two families ${\mathcal A}(m,n)$ and $\bar{\mathcal A}(m,n)$ of $C^*$-algebras associated to a textile shift, and compute them in specific cases. These are graph algebras, associated to some one-dimensional shifts of finite type constructed from the textile shift. Under extra hypotheses, we also define two families of Fell bundles which encode the complexity of these two-dimensional shifts. We consider several classes of examples of textile shifts, including the full shift, the Golden Mean shift and shifts associated to rank two graphs.Comment: 14 pages, 4 figure