DETECTING REGIME SWITCHES IN THE EUR/RON EXCHANGE RATE VOLATILITY

In the present study we develop and implement a short term exchange rate forecasting methodology using dynamic confidence intervals based on GARCH processes and we analyze whether this methodology can be used to model a regime switch in the volatility ofconditional heteroskedasticity, regime switch, exchange rates, long memory

Quantifying the probability of a recession in selected Central and Eastern European countries

The COVID-19 pandemic simultaneously affected most economic sectors and has already caused severe worldwide social and economic damage. In response, authorities introduced social distancing measures, with an adverse impact on economic activity. If policymakers were aware of the existing vulnerabilities, including those derived from the positioning on the business cycle, resilience could have been increased. The aim of this article is to describe various methods of dating business cycles in several Central and Eastern European (C.E.E.) countries, namely Czechia, Hungary, Poland and Romania. Furthermore, a Probit model regarding the probability of a recession is estimated, confirming the adverse effects of the pandemic, in contrast with a brightening outlook given vaccination campaigns and the E.U. recovery package. However, in case of the Romanian economy, an in-sample estimation showed a high probability of negative growth rates even in a pre-pandemic world, due to the high macroeconomic imbalances

Discussions on Qualitative Assessment or Risk Quantification in Adopting Decisions Concerning Risk in Financial Auditing

This paper presents some insights concerning qualitative and semi-quantitative audit risk assessment methods. We consider that semi-quantitative assessment collaborated with qualitative interpretation can be a better solution in evaluation auditors’ decisions. We then exemplify our solution by taking into account recommendations offered by International Auditing Standards

Discussions on Qualitative Assessment or Risk Quantification in Adopting Decisions Concerning Risk in Financial Auditing

This paper presents some insights concerning qualitative and semi-quantitative audit risk assessment methods. We consider that semi-quantitative assessment collaborated with qualitative interpretation can be a better solution in evaluation auditors’ decisions. We then exemplify our solution by taking into account recommendations offered by International Auditing Standards

Decision-making processes and their implementation in digital accounting practices

This paper presents, with examples, the changes produced by digital accounting in the process of adopting and implementing accounting decisions. Information and communication technologies have generated significant changes in the accounting activities of enterprises. Nowadays, researches in this area are oriented towards the complete computerization of accounting activities, a process supported by spectacular technological evolution and geographical expansion of enterprises in the last decades. In this context, the emergence and development of the concept of digital accounting became something natural and its influence is manifested from the ordinary activities to the decisional ones

Decision-making processes and their implementation in digital accounting practices

This paper presents, with examples, the changes produced by digital accounting in the process of adopting and implementing accounting decisions. Information and communication technologies have generated significant changes in the accounting activities of enterprises. Nowadays, researches in this area are oriented towards the complete computerization of accounting activities, a process supported by spectacular technological evolution and geographical expansion of enterprises in the last decades. In this context, the emergence and development of the concept of digital accounting became something natural and its influence is manifested from the ordinary activities to the decisional ones

Decision Support Systems Usefulness and A Practical Solution Based on Semantic Web Technologies

Nowadays Decision Support Systems deal with impressive amount of information. Current Decision Support Systems are customized solutions, possible to be used only in the context for which they were developed. In addition to this the information integration is other common problem of the Decision Support Systems. This paper tries to outline the main idea that in order that Decision Support Systems users' to be satisfied with the solution provided two conditions must be assured: the possibility to apply knowledge at the decision moment and place by the decision makers and the semantic integration of information. In this work we analyze the direct influence of the two conditions enunciated above and we came with a solution that is based on ontology, Semantic Web technologies and inference engine. We demonstrate the contribution of our approach by undertaking three scenarios from business decision making processes

CONTENT AND CHEMICAL COMPOSITION OF ESSENTIAL OIL IN HYBRIDS OF OCIMUM BASILICUM L.

The paper presents the results of the quantitative and qualitative analysis of essential oils accumulated by Ocimum basilicum L. (its varieties and cultivars) and its hybrids obtained by directed pollination. The main substances in the oil composition were identified by the gas chromatography and mass spectroscopy method and it was determined which chemootypes they belong to.</p

BIOLOGICAL STUDY AND CHEMICAL COMPOSITION OF MONARDA FISTULOSA L. ESSENTIAL OIL

The importance and the identity of aromatic plants are reflected by the chemical composition of essential oils, which are used for various purposes. The biosynthesis of these substances determines the characteristic features of each plant species, which depends on genetic factors and pedoclimatic factors. They influence the quality as well as the proportion in which the chemical components are found in oil.This paper, written in collaboration with our colleagues from the "Stejarul" Biological Research Centre (Piatra Neamț, Romania), is focused on a study on the chemical composition of the essential oil, prepared from Monarda fistulosa L., commonly known as wild bergamot or bee balm, a perennial herbaceous species. In many European countries, Monarda fistulosa has been cultivated for a long time as spice and aromatic plant. In the Botanical Garden, it has been studied as an aromatic plant, which is rich in biologically active substances and is a great source of essential oil. Plants develop successfully in warm and humid climate, as well as in relatively harsh climatic conditions. Monarda fistulosa contains Vitamin C (29,3%), B1 and B2. Monarda essential oil possesses bactericidal and anthelmintic properties. As a spice, bee balm is used in the production of vermouth and can be added to meat dishes. The plants have a pleasant smell, similar to bergamot orange. </p