A STOCHASTIC MODELING FOR THE UNSTABLE FINANCIAL MARKETS

Considering the present economic context, the measurement of performances has become a permanent preoccupation for organizations, since the whole process is based on it, offering the necessary feedback to identify both the positive actions which have led to favorable results for the organization, and the negative ones, in order to correct them in the future. To do this, we have to measure what is most importantly to measure. Starting from these considerations, the present paper approaches from a theoretical and practical point of view the economic rate of return as the indicator which synthesizes best an organization’s financial-economic performance. We have calculated and analyzed the economic rate of return for a group of Ten Romanian Firms in the food industry, through different calculation relations, pointing out the advantages/disadvantages of each calculation method.belated integral, forward-backward stochastic equations, pathwise uniqueness, financial modeling.

Contribution of Education Funding to Economic Growth in Romania

The present paper tries to investigate the impact of education funding over the economic growth in Romania during the interval of time 1991-2009. It also attempts to answer the following question: does investment in education help the economic growth in Romania? If the answer is positive, then, how important are the allocations of investments in education matter? For a complete analysis, we have applied the regression method, and the statistical data have been provided by the National Institute of Statistics and the Romanian Ministry of Education.education expenditure, economic growth, statistical analysis, linear regression.

A MODEL OF ANALYSIS OF THE E-LEARNING SYSTEM QUALITY

The wide proliferation of the e-learning formation system become a true fact. The infrastructure delivered by the internet network permitted the decreases of the exploitation costs in favor of the beneficiary of formations. Like in the case of the classic system of formation a question about how to measure the its quality is raised. It is very specialized environment with the same actors like in the classic system too but with different type of interactions. Can we say that in both system the results are similar and their quality is the same. This paper reveal a model that can be used when try to evaluate the quality of this kind of system using specialized indicators for every aspect that can be measured.e-learning system, quality, indicators, beneficiary of formation elearning activities, e-learning materials

DEMANDS AND CONTROVERSIES REGARDING THE SPHERE OF INTERNAL AUDIT ACTIVITIES

The sphere of internal audit activities has seen a continuous evolution that has frequently generated debates and controversies among specialists. The study realized in this context intends, firstly, a brief overview of the main stages of evolution and, secondly, it intends to highlight the pronounced interdependence of the positioning of internal audit and the nature of the entity's specific objectives and activities.internal audit, sphere of activity, positioning, specific objectives, audit committee, managerial needs.

THE INFLUENCE OF THE COMPETITIVE ENVIRONMENT ON THE COMPANIES COMPETITIVENESS

In a market economy, competition is the engine which makes the entire system of connections between the economic operators work, the main element of the market mechanism which leads to the development of the economic life. The competition represents a tough fight, without considerations, where the economic interests of each participant on the market come first. In this context, this paper attempts to carry out an analysis of the competitive environment and especially of the influence exerted by it on the competitiveness of the companies. Otherwise, competitiveness can be regarded as the main goal that is to earn higher profits or a better position on the market. This work was supported by CNCSIS-UEFISCSU, project number PNII-IDEI 826/19.01.2009competition, competitive environment, competitiveness, competitive forces, strategies

TO WHAT EXTENT IS THE LOCAL TAX INCREASE APPROPRIATE?

Fiscality represents a major decision factor for investment as it represents an important cost of every business transaction regardless of its type, size or geographical location. In this respect, we find that a legislative initiative could be a solution worthy of being taken into consideration, an initiative that would allow each locality - regardless of its rank - to provide its citizens with standards in accordance with their efforts. Tax federalization may allow higher efficiency in spending public resources that are never abundant enough, and also greater political accountability. Moreover, tax federalization could also be beneficial for increasing Romania’s degree of democracy, as the decisions directly concerning the citizen are brought much closer to him/her so that he/she can control them more easily, by vote or by a proper spending of taxes he/she pays. The paper analyses the usual arguments discussed about fiscal federalization through normative and positive (public choice) approaches.fiscality; local tax; tax increase; tax federalization; public choice

THE GROWTH AND PROMOTION OF THE TOURISM IN SOUTH-WEST OLTENIA REGION

The paper analyze different facilities and services that have to exist when wanting to build a strategy in the field of tourism, with an application in the South-West Oltenia, focusing on the need of implementation of the quality in achieving touristic products. Also, it draws attention upon the importance of a touristic destination continuously, passing through all the stages of the development process in order for the destination to be revisited and for touristic products to remain valid and attractive.strategy, management, regional development, local support

AGRICULTURE SECTOR IN THE REPUBLIC OF MACEDONIA – CURRENT SITUATION AND DEVELOPMENT PERSPECTIVES

Macedonia needs a balance between the goals of economic progress, social development and environmental protection. The basic reasons for this lies in the decrease of the exporting competitiveness of the Macedonian agricultural sector. This negative tendency results in losing the export markets, and also in a strong pressure put by the foreign producers. What is known is that Macedonia has strong comparative advantages when it comes to food producing. Those comparative advantages have to be supported by enhancing the competitive advantages the main purpose of which would be enabling more dynamic export of high-quality agricultural products from Macedonia.agriculture, development, Macedonia

MARKETING EVOLUTION: E-MARKETING - QUALITATIVE AND QUANTITATIVE RESEARCH TECHNIQUES

E-marketing is a generally accepted concept, due to its advantages compared to other marketing mechanisms: it is faster, more efficient, more intelligent and less expensive. The option for e-marketing is also enforced by its flexibility with which it addresses potential clients. Moreover, e-marketing is the environment which leads to quick results, allowing complex calculus in order to analyze request and market evolution as pertinent as possible. Access to new market segments and gaining the existing clients’ trust and loyalty through the products’ quality and price is mostly due to the e-marketing campaigns.e-marketing, market research, Internet, e-marketing campaigns

Notes On Some Common Misconceptions In Input-Output Impact Methodology

The methodology in many studies involving input-output analysis appears to be often misunderstood, particularly in the way multipliers are used. The preoccupation with multipliers has led in many cases to incorrect analytical procedures; for example, there is a temptation to first derive a multiplier and then use this multiplier to calculate the total impact on the economy. This paper demonstrates that this approach is often erroneous and can result in significant errors. In addition, the importance of determining how imports are treated when using input-output in empirical situations is discussed. This is particularly relevant when using input-output tables in developing countries. Other issues which are clarified include the use of output multipliers, state versus regional multipliers and impacts, expenditure switching and table balancing.