Contribution of Balance Scorecard Model in Efficiency of Managerial Control

able to guarantee the performance that creates a value superior to that of the competitors, so that this might be sustainable in time. For such an improvement of the performance and of the competitiveness in a dynamic and complex environment we can reveal as fundamental the implementation of the most efficient and most participative management audit systems, able to clarify its objectives and necessary methods in order to attain the objectives, as well as the connection between the defining processes of the strategies and the current operational activities. These controlling systems must be able to assess the performance, not only as regards the quantity but also the quality, based on the evolution of these results, as well. Thus, the 21st century companies, currently undergoing the market globalization process, need strategies that would allow them to face the continuous transformations of the world economy in order to succeed. Therefore, in order to take advantage of positive trends, markets need to be confronted with winning strategies, with instruments that create a valid orientation in the implementation of long-term objectives. The new economic reality is highly complex, thus triggering an equal development of the management techniques and control practices not to lose sight of a significant feature of the monitoring of the economic evolution and management decisions of companies. This is why the second part of the paper focuses on creating a BSC model for the Alfa Group in order to underline the applicative use of the new instrument for measuring the economic-financial performance, as well as to highlight its importance as means of communication with all categories of stakeholders.Balance Scorecard, Key Performance Indicators, decisional processes, managerial control, efficient method

THE ROLE AND IMPORTANCE OF ECONOMIC AND FINANCIAL INFORMATION IN CORPORATE GOVERNANCE

The evolution and globalization of the markets, the financial scandals that havecrashed in different ways the American and European economical systems and the raise of thepressure on behalf of the investors over the economical performance have fueled serious debatesregarding the critical role of the economical and financial communication and regarding theindisputable relevance that, in the actual context, covers the corporative government systems andstructures.The fundamental characteristic of the financial market is, in fact, to have as main target the so-called virtual richness : at the moment where a financial product is offered to the public,substantially it is offered the inherent information of the richness . In this paper, the authors aretrying to show the importance of the content, quality and time of such information, and also theefficacy of the systems to which the control is destined, consisting the base in guaranteeing theoptimal allocation of the resources on the market and therefore must be the object of the priorattention of the legislative organizations in regulating their own markets.financial product, financial scandals, globalization, financial markets, stock exchanges

General Equilibrium Dynamic Models and the Doha Round Impact on Underdeveloped Economies

The authors have focused on the provision of a general outlook on global multiregional models that enable the study of the effects of commercial policies, and have particularly analysed the models that can be applied to underdeveloped economies. Starting from a simple model, the hypotheses introduced into general equilibrium models are analysed, focusing on the study of commercial policies. Following a synthetic description of the main Walrasian global multiregional models, selected according to the possibility of applying these instruments to the analysis of commercial policies in underdeveloped countries, attention is particularly given to the main limitations entailed by these models, thus emphasizing their disagreement with the characteristics of the underdeveloped economies. Moreover, the study underlines the hypotheses according to which these models would not be suitable for the economies of those states. The authors also insist on the impact of the possible scenarios derived from the Doha Round, which have caused significant assessment differences.general equilibrium models, trade policies, trade predictions, Doha Round scenario

THE DIMENSION OF TAX EVASION IN ROMANIA

Tax evasion is currently a complex economic and social phenomenon encountered both nationally and internationally. Tax evasion is one of the most important divisions, among the most studied, analyzed, researched in the public finances and within the fiscal and financial law, both by the specialists dealing with theoretical problems, as well as by those dealing with the activity of research, design and technical execution. However, despite everything written about the causes, procedures, size, control, or sanctions related to tax evasion, the words that indicate this phenomenon are inaccurate and the field is relatively uncertain

ANALYSIS OF THE COMPETITIVENESS OF THE CONSTRUCTION INDUSTRY AND THEIR CONTRIBUTION TO ECONOMIC GROWTH IN ROMANIA

The objective of this paper is focused on the analysis of the evolution of GDP at the level of our country during the period 2011-2017, but also at the sector of activity, constructions, this being an important sector of the economic and social activity through which the movement of goods and people in space , with the objective of satisfying the material and spiritual interests of society

DYNAMICS OF WORK FORCE IN ROMANIA

The labor market can be represented by the degree of employment, unemployment and economic inactivity. The degree of employment is influenced by the decisions taken by employers at a given moment, by the legislative changes and developments of activity fields. Given the factors of production, labor, nature and capital, the most representative for the economic entity is the workforce. That is why, when designing the organization of various activities, account is taken of both the evolution of the market and the availability of the workforce, thus being included in the development of the society dimension. The objective of this paper is to analyze the dynamics of the workforce in Romania, both in terms of the unemployment rate and the degree of employability

SHORT ANALYSIS OF CONVENTION BETWEEN CORPORATE GOVERNANCE AND INTERNAL AUDIT

The objective of this paper is to highlight the relationship between internal audit and corporate governance, of the improving communication of auditors with the management and governance of a company. The importance of internal audit activity is increasingly contributing to adding value to companies through recommendations made during audit engagements and these recommendations determine the audited structures to improve their activities and improve their internal control system

STUDY ON FINANCIAL COMMUNICATIONS FROM PUBLIC RETAIL COMPANIES: COMPARATIVE ANALYSIS – MILANO STOCK EXCHANGE AND BUCHAREST STOCK EXCHANGE

The economic and financial crisis that hit the world economy has shown that for retail companies, growth continued to record only for those who held full control over every point of sale. The objective of our work is focused on the analysis of the most important financial indicators that a retail company should focus on and include in communication with external stakeholders. We make the connection with problems of the real economy through a comparative study of Romania and Italy, in which we analyze retail companies listed on the Bucharest Stock Exchange (BSE) and a similar number of retail companies listed on the Milan Stock Exchange (MSE). The importance of the topic stems from the fact that it is essential for understanding how consumers relate the various retail companies and how the latter model their structure or behavior depending on the requirements and needs of the former