Bucharest Stock Exchange Evolution November 1995 - November 2005

Bucharest Stock Exchange was opened for transactions at the end of November 1995. Since than 10 years have passed – and the end of November 2005 marked the first decade of Bucharest Stock Exchange contemporaneous existence. But the event passed almost unnoticed, not even a press release on Bucharest Stock Exchange official site could be found. Despite this silent anniversary, the main Romanian stock market could be proud of most of its achievements in these 10 years. This paper tries to present the Bucharest Stock Exchange evolution during a decade, along with its potential for development in the years to come.stock exchange, evolution, capitalization, indexes

Tourist Information Centre in Cluj-Napoca, Romania

This paper intend to present the authors’ point of view regarding the creation of a tourist information centre in the home town, Cluj-Napoca. The present situation regarding the tourist information centres at Romania’s level could and should be improved and Cluj-Napoca is among those cities which need such a centre. The structure of this centre and the involvement of interested stakeholders would be presented below, along with the importance of such a centre for Cluj-Napoca

Romanian Hotel Groups Listed at Bucharest Stock Exchange a Survey

Hotel industry is an important component of travel and tourism (T&T) sector. However, less studies are dedicated to hotel industry than to the T&T sector as a hole. Even less studies are available on hotel companies or groups listed on stock exchanges around the world. The present study will focus on Romanian hotel groups listed at Bucharest Stock Exchange, compared with the situation in Europe.hotel industry,travel and tourism,stock exchanges,hotel groups.

Should Dracula Myth be a Brand to Promote Romania as a Tourist Destination?

Dracula is an international brand, not a Romanian one. But Bram Stocker chose to locate his vampire in the mysterious location of Transylvania. Thus, Romania is the only country in the world which can exploit the myth of Dracula as being at its ‘home’. This could be considered a competitive advantage for Romania as a tourist destination. The vampire named Dracula generates mixed, mainly negative, feelings among Romanians. And maybe – for the 21st century – can become a character falling in desuetude. Though, the question remains: should the Dracula myth be used as a brand promoting Romania as a tourist destination? The present paper tries to find an answer to this controversial question.brand, Dracula, tourism, destination, product, Romania

Treasury Bond Market Segment at Bucharest Stock Exchange

The present paper aims to present the level of development reached by Romanian Treasury bond market segment at Bucharest Stock Exchange. A trial will be made to identify the determinants that contributed to the current level of development of domestic secondary government bond market and the factors that can generate a further (and improved) development. The analysis will be descriptive (the data series available for Romanian are short), based on the secondary data offered by Bucharest Stock Exchange

CORPORATE SOCIAL RESPONSIBILITY IN ROMANIA: A BRIEF SURVEY

In October 2011, the European Commission proposed a new definition of CSR as being the responsibility of enterprises for their impacts on society (European Commission, 2011). As a European Union (EU) member state, Romanian organizations are expected to use henceforth this definition as the main framework. According to Mandl & Dorr (2007), Romanian organizations became familiar with the modern concept of CSR during the 1990s. An important step ahead for CSR evolution in Romania was the issuance of the National Strategy to Promote Social Responsibility 2011 and 2016. The present paper presents a brief survey of CSR in Romania based on the three recent studies published by Ernst & Young (2013, 2014, 2015) on CSR trends and realities in Romania and relate their results with some of the existing results published within the Romanian academic research. The results show that the CSR meaning remains blurry at the level of Romanian companies, in general. The results of this brief study are in accordance with the previous studies that showed the followings: a) CSR in Romania is a concept initially introduced (or rather imposed to their respective branches) by MNCs, (Iamandi, 2011); and in the cases of Romanian owned companies might be rather an imitation of the foreign practices (Obrad et al.2011); b) social responsibility programs are perceived as not important and irrelevant for the business, mainly by the Romanian owned companies (Cristache, 2011; c) the CSR in Romania is still at an early stage of development, despite the increase number of CSR initiatives; as Baleanu et al. (2011) showed, CSR is still punctual and targets relatively disparate activities with reputational aim; Zait et al. (2015) complete the image by highlighting that the CSR activities are based on wishes and circumstantial influences, subjective preferences and cultural inclinations of important managers of the respective companies; d) CSR seems to be developed rather due to the fact that it is perceived as 'politically correct' within the European Union, and fashionable. Still considered a frontier market economy, Romania lacks the investors' sophistication that might determine CSR to become a strategic tool for sustainable development. While the models of MNCs subsidiaries are good, they have to be adapted and transformed into Romanian companies 'own brand' of CSR activities. The numerous CSR initiatives at country level still lack coordination with the real social needs (maybe except for the natural environment). Thus, as Iamandi (2011) suggested, CSR development in Romania is expected to follow a path similar to other European countries. The pace of this development however is influenced by the specific domestic problems and perceptions

BUCHAREST STOCK EXCHANGE DEVELOPMENT BETWEEN 1995 AND 2015

At the end of November 2015, Bucharest Stock Exchange reached the 20th anniversary since re-opening. The present paper is a survey of Bucharest Stock Exchange evolution along the past two decades. It highlights the main milestones that marked the evolution of the main Romanian capital market. The paper also offers a detailed presentation of the main market and of the alternative trading system evolution within Bucharest Stock Exchange. It briefly discusses BVB’s strengths, weaknesses, opportunities and threats and concludes that through its capacity and willingness to change, adapt, and face new challenges, one can look with confidence at the Bucharest Stock Exchange’s future development