THE FINANCIAL STABILITY OF THE ROMANIAN BANKING SYSTEM IN THE EUROPEAN CONTEXT

Reforms to the European banking system aim to increase commercial banks’ ability to withstand various shocks and volatility of the current economic and social environment. Changes to European and international legislative framework aimed among other things, the level of capital adequacy and quality of loan portfolios, which are most affected by the turmoil arising in financial markets. Thus, it was considered appropriate to studying these two groups of prudential ratios, over a period of 9 financial years (2007-2015) at 8 banking systems in Europe: Austria, Czech Republic, France, Germany, Greece, Italy, Hungary and Romania. The results obtained showed that the Romanian banking system has an adequate level of capital, although the quality of loan portfolios has significantly decreased, especially in the last period of the research. National Bank of Romania’s involvement in the significant reduction of risk and sovereign debt crisis contributed to the increase of comparability of the Romanian banking market with the European market. Major problems have been reported in the Greek and Italian banking systems, largely affected by the sovereign debt crisis

STUDY ON IDENTIFYING THE CONSULTANCY NEEDS OF THE MEMBERS OF THE TERRITORIAL PACT AND THE COUNTY PARTNERSHIPS IN THE CENTRE REGION

In order to ensure some quality consulting services within the activity “Providing consultancy services to develop applications for European funding with focus on the SOP HRD 2007-2013”, in order to identify the organisations’ consultancy needs, the problems they face in elaborating the financing applications and implementing projects, there has been elaborated, within the PTS, the document “Questionnaire on identifying the consultancy needs of the members of the Territorial Pact and the County Partnerships - Centre”. The questionnaire was sent via e-mail to the member organisations of the Pact and the County Partnerships and also, it has been posted on the web site www.stpcentru.ro, so that all members may have access to it. The questionnaires collected until May, 25th, 2010 from 27 organisations were centralised in an excel format Data base

Study Regarding the Effects of Demographic Transition on Labor Market and Public Pension System in Central and Eastern Europe

Population and the quality of labor force are the “strengths” features’ that ensure socio-economic development of a country. The last decades can be characterized as a transitional period, in which countries of European Union and especially the countries of Central and Eastern Europe are facing a demographic decline. Reduced birth rate, ageing and migration are factors’ which create a lot of pressure, both on labor market and public pension systems, items correlated with the population structure. In this paper we have presented the demographic situation and the size of migration in five countries of Central and Eastern Europe. The direct linkage between population structure, labor market and public pension systems represents, in transitional context, a threat to budget sustainability, especially in Romania. We consider that the reformation has to be adjusted with the new socio-economic conditions, finding new solutions for increasing birth rate, decreasing the “exodus” of young population and stimulating economic activities

STUDY REGARDING THE ROMANIAN RURAL TOURISM FINANCING AND DEVELOPMENT OPPORTUNITIES

<span>Rural tourism and agricultural tourism are activities, which generate alternative incomes, a fact that offers development possibilities to the rural space, due to the unique landscapes, large semi-natural areas, the inhabitants' born hospitality in the rural surroundings. From this perspective, a modernization, development and innovation process for the Romanian rural tourism is required. All these aspects, however, require financing. Therefore, a pre-accession financing source of the rural tourism was the SAPARD programme, a programme which "offered the opportunity" to many business people to start their business in this field. The paper shows the evolution of the rural boarding houses between 2003-2007, with analyses on the number, type of financing, development region.</span

Study regarding the influence of the endogenous and exogenous factors on credit institution’s return on assets

The goal of each credit institution is represented by profitability, an objective hardly to be achieved, taking into account that banks are practicing their usual activities within a banking system that hardly tries to recover. The main purpose of this research is to identify the existence of a dependency relationship between return on assets and endogenous factors (growth rate of the loan portfolios; the rate of growth of the provisions and solvency ratio) and the exogenous ones (GDP and inflation rate). The analysis done over the horizon of the last 10 years, a period that includes both economic boom, recession and recovery, illustrated the vulnerability of the credit institution in front of the business environment. The study demonstrated a significant dependence relationship, between return on assets recorded by Carpatica Commercial Bank and the intern determinants, while the variation of the exogenous factors does not explain the variation of ROA recorded by the bank

Case Study Regarding Financial Performance in Terms of Cash Flow Return on Investment (CFROI) for Companies Listed and Traded on the Bucharest Stock Exchange, During 2006-2013

The specialized literature suggests the modern analytical indicators of the listed companies’ potential, in their construction starting from the concept of value creation. One of this indicators is Cash Flow Return on Investment (CFROI-Rli), considered as the best measuring indicator of value creation. It represents an internal rate of return on investment, expressing in percentage the ratio between the gross cash flow for the period, after deducting amortization and total gross investments of the same period. This paper presents a case study regarding financial performance in terms of cash flow return on investment (CFROI), of Companies listed and traded on the Bucharest Stock Exchange, during 2006-2013

MARKETING MANAGEMENT AS A KEY ELEMENT FOR IMPLEMENTING CHANGE WITHIN ORGANIZATIONS

In the contemporary era, dominated by deep interests, an organization will only survive by being creative, based on professionalism, having the ability to decide. And as creativity, renewal and innovation are the pillars of customer satisfaction, this remains a problem, not enough conceptually defined and operationalised. This paper presents the state of knowledge regarding customer orientation as a marketing component, the level of influence of the main factors of change upon marketing management. The paper is based on several concepts from literature, on opinions of well known specialists but also on the reality of international crisis which shows an obvious lack of interest in studying and modelating customer orientation. The investigation is composed of two successive researches: a qualitative explorative research (interviews among specialists, focus-groups) and a quantitative descriptive research. We consider that the results of this research have an innovative character and could be the base for new theoretical and mostly practical study programs or workshops for marketing managers as well as employees. Also, organizations affected by profound changes should realize that only a real orientation towards the needs of clients will ensure their long term success

CONTABILITATEA DEPRECIERII MIJLOACELOR FIXE ÎN VIZIUNE NAŢIONALĂ ŞI INTERNAŢIONALĂ

Obiectivul acestui studiu este de a examina şi compara modul de recunoaştere, contabilizare şi raportare financiară a pierderii de depreciere a mijloacelor fixe din perspectiva Standardelor Naţionale de Contabilitate şi în comparaţie cu prevederile Standardelor Internaţionale de Raportare Financiară. În acest sens, pentru început au fost expuse prevederile SNC „Deprecierea activelor” cu privire la deprecierea mijloacelor fixe, avându-se în vedere cele mai importante etape ale ciclului contabil – recunoaşterea, evaluarea, înregistrarea în conturi şi prezentarea în situaţiile financiare.  Apoi, a fost urmărită prezenţa acestor etape în deprecierea mijloacelor fixe din perspectiva IAS 36 „Deprecierea activelor”, cu identificarea similitudinilor şi neconcordanţelor.ACCOUNTING OF DEPRECIATION OF FIXED ASSETS IN NATIONAL AND INTERNATIONAL TERMSThe objective of this study is to examine and compare the accounting and financial reporting of fixed assets impairment from the perspective of the National Accounting Standards and the International Financial Reporting Standards. In this respect, initially we exposed the provisions of NAS "Impairment of Assets" referring to fixed assets in view of the most important steps in the accounting cycle - recognition, measurement, recording and presentation in the financial statements. Then these steps and their presence were followed and reviewed based on the terms of IAS 36 "Impairment of Assets" regarding fixed assets, identifying the similarities and discrepancies. </p

STUDY REGARDING THE IMPLEMENTED PROJECTS BY THE MEMBERS OF THE TERRITORIAL PACT CENTRE AND THE IDENTIFICATION OF PROJECT IDEAS

The study was conducted within the project „The establishment of the Permanent Technical Secretariat of the Territorial Pact Centre for Employment and Social Inclusion in the Centre Region”, a project co-financed by the European Social Fund through the Sectoral Operational Programme for Human Resources Development 2007-2013. The general purpose of this research consists of identifying the implemented projects and the project ideas in order for the PTS to provide efficient consultancy in drawing up the financing application forms. Therefore, we have tried to determine the level in which organisations have implemented pre-adhesion financing projects; to determine the level in which the financing application forms were handed in within the structural programmes and the implemented/under implementation projects, to determine the organisations’ option regarding the elaboration of financing application forms from European funds; the handing-in period and the programmes, the reasons for their non-elaboration. The paper shows the results of this research based on processing the questionnaires collected until the 25th of May 2010, as well as a brief historical of how the Territorial Pact Centre was established and how the project was elaborated