The Convergence Degree of Innovation Potential of Romanian Economy, by Comparison with the Developed Economies of the EU Member States

In this paper we analyze the convergence degree of innovation potential of Romanian economy, by comparison with the developed economies of the economical and monetary union, on one hand, and with the last wave of integration countries – in most cases, economies in process of development, therefore with an economical development trajectory like our country – on the other hand. The European Innovation Scoreboard (EIS) is the instrument developed at the initiative of the European Commission, under the Lisbon Strategy, to evaluate and compare the innovation performance of the EU Member States. The EIS includes innovation indicators and trend analyses for the EU Member States, plus the two new Member States: Bulgaria and Romania, as well as for Croatia, Turkey, Iceland, Norway, Switzerland, the US and Japan. The Summary Innovation Index gives an “at a glance” overview of aggregate national innovation performance. It measures 5 key innovation dimensions: Innovation drivers, Knowledge creation, Diffusion, Applications and Intellectual property.innovation; Summary Innovation Index; research; knowledge creation

The Cost per Student Equivalent, a University Financial Management Tool

The paper presents the methodology of calculating the cost per student equivalent with the unfolding of all the components of this cost, regarding its usage as an instrument of financial management of universities. This methodology allows the universities to determine the real cost per student, which can be compared to the cost per student equivalent to, on the basis of which the financing of the universities is being grounded from the budget.cost, financial management, student, university.

An Analyses of Romanian Companies’ Financing Decisions under Macroeconomic Influences

The highly important issue by which a company ensures its required capitals, both as volume, and as structure in due time and at low costs renders the financing decision an essential role in the administration and management process. Selecting the capital structure at company level implies both setting the extent of financing from own, respectively loaned resources, and considering the procurement costs of these resources. The weak financing of Romanian companies is one of the major causes of the deficient use of the owned production resources, therefore financial resources at accessible costs become essential to the respective economic agents. Considering that the financing decision may be influenced by the manner the economic mechanisms operate on national level, in this report, we emphasize that financing resources must not be analysed individually, but in relation to the macroeconomic variables, e.g. inflation or the interest rate on the market. In order to see how the evolution of the interest rates have influenced the trend of loans granted by the loan establishments, this report represents a structural and dynamic analysis of the evolution of the overall loans with an emphasis on the non-governmental loans. The swift transition to a new economic mechanism at the beginning of the 90s occurred as Romanian enterprises were completely unprepared, whilst the continuance of most companies was conditioned by non-payment of debts and accumulation of arrears. Therefore, the final part of this report deals with the arrears, a sensitive issue in Romanian economics

A new proposal for efficiency quantification of capital markets in the context of complex non-linear dynamics and chaos

The main purpose of this paper is efficiency analysis as well as its quantification in the case of emerging capital markets, by building a new measure of market efficiency. The basic assumption of such markets is the lack of correlation between returns, and therefore the existence of low entropy, the lack of randomness, manifestation of fractality and long-term memory, integrated into a single measure, will indicate the distancing from the state of efficient market. This paper proposes five different estimates (for informational entropy, run test, Hurst exponent, long-term correlation coefficient and fractal dimension) to construct a new measure of market efficiency based on a deviation from the ideal state (expressed by the efficient market). The Capital Market Efficiency Exponent is estimated for nine emerging capital markets and, for comparison, for three developed capital markets, at different stages of development over a 16-year time span

Discretionary vs nondiscretionary in fiscal mechanism – nonautomatic fiscal stabilisers vs automatic fiscal stabilisers

The goal of the present study is to increase the intelligibility of macroeconomic phenomena triggered by governmental intervention in economy by means of fiscal policies. During cyclical movements, fiscal policy can play an important role in order to help stabilise the economy. But discretionary policy usually implies implementation lags and is not automatically reversed when economic conditions change. In contrast, automatic fiscal stabilisers (SFA) ensure a prompter, and self-correcting fiscal response. The present study aims to tackle the topic of discretionary vs nondiscretionary characteristic of fiscal stabilisers (SF). In this context, the scope of the research undertaking is to launch a scientific debate over the definitions of the concepts of non-automatic fiscal stabilisers (SfnA) and SFAs. We describe how we can quantify the discretionary and non-discretionary character of the fiscal policy, by the analysis of the structure of the conventional budget balance (SBc), budget balance associated with the current GDP. In the final part of this article, we propose a quantitative equilibrium model for establishing the mathematical prerequisites for an SF to become automatic. Likewise, on the basis of the proposed mathematical model we have performed a qualitative analysis of the influence factors

Design, Synthesis and Biological Activity Evaluation of S-Substituted 1H-5-Mercapto-1,2,4-Triazole Derivatives as Antiproliferative Agents in Colorectal Cancer

Colon cancer is a widespread pathology with complex biochemical etiology based on a significant number of intracellular signaling pathways that play important roles in carcinogenesis, tumor proliferation and metastasis. These pathways function due to the action of key enzymes that can be used as targets for new anticancer drug development. Herein we report the synthesis and biological antiproliferative evaluation of a series of novel S-substituted 1H-3-R-5-mercapto-1,2,4-triazoles, on a colorectal cancer cell line, HT-29. Synthesized compounds were designed by docking based virtual screening (DBVS) of a previous constructed compound library against protein targets, known for their important role in colorectal cancer signaling: MEK1, ERK2, PDK1, VEGFR2. Among all synthesized structures, TZ55.7, which was retained as a possible PDK1 (phospholipid-dependent kinase 1) inhibitor, exhibited the most significant cytotoxic activity against HT-29 tumor cell line. The same compound alongside other two, TZ53.7 and TZ3a.7, led to a significant cell cycle arrest in both sub G0/G1 and G0/G1 phase. This study provides future perspectives for the development of new agents containing the 1,2,4-mercapto triazole scaffold with antiproliferative activities in colorectal cancer

Time and Causality in the Economic Process – a Critical Approach Based on Consistency Criteria

Our paper proposes a critical analysis based on criteria of consistency of the fundamental concepts underlying the comprehensive description of economic process, namely: time, context and causality. Issues of such action taken by us arise from the existence of the fact that the emergence of new paradigms, amid an economic complexity, should include elements of theoretical, instrumental and methodological nature. Moreover, dominant economic science, at this time (positivist), is subject to an epistemological imperialism exercised by Newtonian mechanics, without one’s own epistemology. Regarding the underlying causality explaining the economic process, we find that, yet at this time, it is a singular and efficient one (in the Aristotelian sense), but not a teleological one, so we wonder whether the final causality (purpose form) may better explain the economic process and his completeness, and in this sense, the shaping of new paradigms based on premises other than those already existed, in understanding the economic process

Time and Causality in the Economic Process – a Critical Approach Based on Consistency Criteria

Our paper proposes a critical analysis based on criteria of consistency of the fundamental concepts underlying the comprehensive description of economic process, namely: time, context and causality. Issues of such action taken by us arise from the existence of the fact that the emergence of new paradigms, amid an economic complexity, should include elements of theoretical, instrumental and methodological nature. Moreover, dominant economic science, at this time (positivist), is subject to an epistemological imperialism exercised by Newtonian mechanics, without one's own epistemology. Regarding the underlying causality explaining the economic process, we find that, yet at this time, it is a singular and efficient one (in the Aristotelian sense), but not a teleological one, so we wonder whether the final causality (purpose form) may better explain the economic process and his completeness, and in this sense, the shaping of new paradigms based on premises other than those already existed, in understanding the economic process

Time and Causality in the Economic Process – a Critical Approach Based on Consistency Criteria

Our paper proposes a critical analysis based on criteria of consistency of the fundamental concepts underlying the comprehensive description of economic process, namely: time, context and causality. Issues of such action taken by us arise from the existence of the fact that the emergence of new paradigms, amid an economic complexity, should include elements of theoretical, instrumental and methodological nature. Moreover, dominant economic science, at this time (positivist), is subject to an epistemological imperialism exercised by Newtonian mechanics, without one's own epistemology. Regarding the underlying causality explaining the economic process, we find that, yet at this time, it is a singular and efficient one (in the Aristotelian sense), but not a teleological one, so we wonder whether the final causality (purpose form) may better explain the economic process and his completeness, and in this sense, the shaping of new paradigms based on premises other than those already existed, in understanding the economic process.economic process; economic time; final cause.