Transitions Online_Around the Bloc-Mongolia Bows to Pressure From IMF, Mining Majors
Desperately needed bailout money could start flowing soon.
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Desperately needed bailout money could start flowing soon.
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In the paper we seek an explanation of disparities in the required minimum levels of the capital adequacy ratio. Attention is given to 40 European countries mainly in the pre-crisis period. Cluster analysis results justify a need for a discretionary approach of the national prudential authorities when adopting the supranational prudential recommendations, to be more precise, Basel Committee conclusions. In such a manner, lower regulatory burden, i.e. lower minimum level of capital adequacy ratio in this case, is and should remain a privilege of the more transparent, ethical and accountable economic systems with better country credit rating, higher GDP per capita and lower inflation rate. Despite insignificance of the banking sector variables in the cluster analysis, when linear regression method is adopted, variables such as bank concentration indicator and asset quality have the highest explanatory power. A conclusion can be made that the set-up of the minimum capital adequacy ratio should be carefully planned due to threats of loss in the economic output if the banking sector is over-regulated or on the other hand increased financial instability in case of being under-regulated.10
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One of the most difficult challenges for small businesses is to decide which strategy to use for marketing or advertising to generate as much profit using the limited resources available. This study aims to identify ways to promote online using social platforms. With the advent of social media, marketing has undergone radical changes in the way to promote and attract customers. With this technology small and medium companies can identify categories of customers they want to reach much easier. They can also control the content provided and can focus each type of content to the targeted customer category.
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The emotions and their management in the workplace have become popular topics in the literature as a result of their effects in organizations. With regards to the conceptualization of emotions and their impact within the organizational context, terms such as emotion, affect, and affective state are often used as synonyms by many authors, but there are situations when they have different significance. The meanings associated with these concepts are herein discussed. The affect is present in all the organizational parts, is the root of all its relationships. The emotions influence many organizational dimensions such as decision- making, creativity, teamwork, negotiation, leadership, turnover, and job performance. Another essential construct in this field is emotional labor or the management of emotions. This concept has a special significance in the tertiary sector because it is an important driver of customer satisfaction.
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The purpose of the article consists in justification of theoretical and conceptual basis of formation of a steady and balanced social and economic framework of the region based on the rational use of the capacity of all its territories, both central, and peripheral. In the article the poly- component structure of the stability and equilibrium of the social and economic framework of the region which basic elements are integration, structural and resource ones has been proved. Taking into account the enclosure of the concepts “social and economic framework - rational branch structure - import substitution - national security” the conceptual provisions of the mechanism of regional social and economic strategy trends aimed at the development of links between territories for the implementation of projects of non- raw material import substitution have been formulated. The conclusion is drawn on the need of creating dynamic stable design of a social and economic framework of the region for ensuring rational import substitution in non- raw material sector which is expressed not in the mechanical reduction of a share of raw branches in LRT and the direction of regional resources in ineffective projects of industrial production, but in the formation of rational proportions of development of raw and non- raw sectors in economy and social sphere, forming finished reproduction chains in the region.
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This study analyzed the relationship between productivity and profitability in industrial, finance and services sectors in Sultanate of Oman. The data were collected from the annual reports of the 48 industrial, 29 finance and 32 services companies listed on Muscat Securities Market for 5 years from 2010- 2014. This study tested two models for the effect of productivity on profitability. The productivity is measured by the relationships between cost of sales and number of staff (Total, Omani and Expatriate), while profitability is measured by two independent proxies; net operating income (NOP) in the first model and return on assets (ROA) in the second one. The results of the correlation indicated that the correlations of independent variables of productivity are statistically insignificant at 5% with NOP in the industrial sector while the regression analysis in the industrial sector is significant at 5%. In the second model the correlations are statistically insignificant at 5% with ROA in all three sectors. Also, the regression analysis in the three sectors is insignificant at 5%.
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Workflow Systems become a useful tool that any SMEs may choose to use in the business processes support. The article is the result of a thorough literature review regarding workflow systems, a new and very interesting theme. Taking in count thee static and dynamic aspects of a workflow system and their advantages we applied the technology on a data structure regarding Romanian SMEs. The data structure contains financialeconomic information of a representative sample of Romanian SMES, such as return of investments, turnover, and net profit, number of employees, current assets, fixed assets, inventories, receivables, debts, total capital, total incomes, and total expenses. In our case study we created a workflow system for the Romanian SMEs interaction in a Network Business Environment. The workflow surprise the: order - invoice reference – product delivery - payment registration - sending invoice process between two SMEs. Through our case study we showed how important is to use this technology in processing data, rather than using a general programming language (e.g. Java, C++) or any ORM tool (e.g. Hibernate).
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Hospitality businesses influence the sustainability of their natural environment by consuming significant amounts of natural resources. Restaurant industry employs one in every three retail workers and consumes one-third of all retail electricity use and almost 30% of all meals were eaten away from home, last year. This study attempted to identify the most important benefits obtained from green practices implementation and which are the basic environmental practices that can be adopted by the organizations in order the improve their image and reduce their costs. Moreover, our research has been undertaken in parallel with worldwide existing trends in order to better understand the direction in which green restaurants are moving. This study results inventories the main environmental practices and actions that can be implemented in restaurants.
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The business performance of young firms is significantly influenced by customer- and brand-oriented capabilities. These capabilities can be sustained competitive advantages for firms from an early age on and managers need to consciously develop them over time. In the first years, the development of these firms is still highly dependent on their environment. The products and services are still under development, and there are only little resources and market information available. Therefore, the development of customer-orientation, brand-orientation and their impact on business performance at this age is crucial to be understood for founders to appropriately manage these capabilities. The purpose of this article is to provide insights on how customer-orientation and brand-orientation vary across the three age groups of up to two years, two to five years and five to ten years. The paper is based on a quantitative analysis of 413 completed and usable surveys of founders of young firms at an age of up to ten years. Latent variables of customer- and brand-oriented capabilities as well as business performance were structured and analyzed for their components. In an analysis of variance, the differences in these variables between the age groups of up to two years, two to five years and older than five years are analyzed. Between the age groups, the three variables of customer-orientation, brand-orientation and business performance develop differently. While customer-orientation does not vary significantly, components of brand-orientation do. Business-performance even displays a crossover-effect of items.
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Building customer relationships and customer equity is the prime concern in today’s business decisions. The emergence of internet, especially social media like Facebook and Twitter, changed traditional marketing thought to a great extent. The importance of customer orientation is reflected in the axiom, “The customer is the king”. A good number of organizations are engaging customers in their new product development activities via social media platforms. Co-creation, a new perspective in which customers are active co-creators of the products they buy and use, is currently challenging the traditional paradigm. The concept of co-creation involving the customer’s knowledge, creativity and judgment to generate value is considered not only an upcoming trend that introduces new products or services but also fitting their need and increasing value for money. Knowledge and innovation are inseparable. Knowledge management competencies and capacities are essential to any organization that aspires to be distinguished and innovative. The present work is an attempt to identify the change in value creation procedure along with one area of business, where co-creation can return significant dividends. It is on extending the brand or brand category through brand extension or line extension. This article, through an in depth literature review analysis, identifies the changes in every perspective of this paradigm shift and it presents a conceptual model of company-customer-brand-based co-creation activity via social media. The main objective is offering an agenda for future research of this emerging trend and ensuring the way to move from theory to practice. The paper acts as a proposal; it allows the organization to go for this change in a large scale and obtain early feedback on the idea presented.
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Academics’ have always had an interest in creativity, although the literature on this subject began to develop once the rate of progress in science, technology and other fields started to increase. Currently, it is generally considered that the countries with a less creative population will fail to be competitive at an international level. This principle can easily be applied in the business environment, where creativity is needed in order to innovate and to gain competitive advantage. The paper focuses on creativity in a specific economic sector: the hotel industry, aiming at highlighting the way this extremely needed ability is influenced by cultural values. As a result, the paper presents the influence of three of Hofstede’s sociocultural values (individualism, power distance and long term orientation) on employees’ creativity in the Romanian hotel industry.
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The purpose of this thesis is to understand the logic of the approach based on income and the methods included in this approach. Reading through this paper must provide us with the ability to choose and correctly apply the methods presented in order to estimate the enterprise value. Understanding the method cash - flow update – is conditioned by the differentiation between collection and income, fees and expenses. The profit is the result of comparing revenues and expenses. Not all revenue generate collection at the same time; not all expenses generate payments. Their registration into accounting is delayed. Cash-flow is the evolution of the availability of funds in itself of the company, the evolution of the net treasury. In summary, we note that approach based on income estimates an enterprise value by converting future streams of income in the present value of an enterprise which can generate those cash flows.
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The financial resources consist of components which are characterized by common features, but also have traits regarding their formation and use, generating social and economic effects which differ considerably from one of their parts to the other. The financing made by banks of some activities in industry, construction, agriculture, services and trade enables the companies to increase the quality and volume of their products and of the services offered. Also, there is a better orientation of these companies towards the requirements of the internal and foreign markets with beneficial effects on reducing the macroeconomic imbalances inherent in an economy in full process of catching-up with the standards of the developed countries.
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Cost information system plays an important role in every organization in the decision making process. An important task of management is to ensure control over operations, processes, sectors and, not ultimately, on costs. Although at the goals of an organization compete more control systems (production control, quality control etc.) cost information system is important as it monitors the results of the others. As a result, the detailed analysis of costs, calculation of production cost quantification of losses, estimating the efficiency of the work provides a solid basis for financial control. Considering the importance of cost in production units, our articles focuses on the possibility of implementing cost calculation using the ABC method in such a company. Our works consists in case study based on specific data extracted from production plan developed in 2015. By applying the ABC method in the calculation of specific products the results obtained show that the company could improve some production areas by identifying those products which contribute to losses.
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The purpose of the study from the present work was to assess the risk of insolvency at the level of companies in Romania, via an analysis based on the calculation of financial ratios as significant for the state of companies. The correlations established between the values of financial rates and their influence upon the state of insolvency were tested using the logistic model and the probability model on a data sample consisting of a total of ten companies, grouped into companies in insolvency and companies with healthy financial statements having as reference period 2008 - 2012. The results of the study point to the direct influence of indebtedness and speed of rotation of the insolvency claims.
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Analyzed in the context of global economic, business ethics and professional judgment becomes increasingly complex, with reflection in all economic fields, including also the accounting profession. This study has the objective to identify the perception of the practitioners in financial accounting on the ethics seen from the perspective of their practical activity which they carry as employees in accounting companies, or as entrepreneurs. The results of the study shows that both ethics and the professional judgment highlighted by the method Concept Maps, represent points of interest in financial-accounting activity of the cabinets, practitioners auditors/accountants paying particular attention to these issues when referring to the quality of the Financial Accounting Statement.
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Provisions represent a defense of the economic entity against the risks they may face. These have an important role in funding decisions that will be taken in future when it is desirable an absorption fusion in the establishment or when it is desirable concluding contracts and /or commercial banking. As more provisions are created, even more protected, the company credibility with partners is higher. Any investor is interested in the transparency of accounts as they are the real economic picture of the entity and the basis from which to start making management decisions. Constituting provisions is accomplished after the inventory of patrimonial.
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One of the major problem with online shopping is finding the right product, because finding the right product presumes that we know its name, but in most cases it is not so. For this reason the users need help in the process of online searching/shopping. Recommender systems have become a popular technique and strategy for helping users to select desirable products or services. In the past few years the recommender systems have changed from novelties used by a few big e-commerce sites, to serious business tools that are reshaping the world of e-commerce. In this paper, we provide a brief overview of the classification of recommendation systems based on technology used to create recommendations, and inputs they need from the customers. Furthermore we analyze a few algorithms used by recommender systems and we will also present some marketing recommender systems and their comparative analysis.
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Transfer pricing is a complex , current and original topic for Moldovian enterprises. In terms of decentralization of responsibilities it is not so much a challenge as a necessity to determine a transfer price based on certain, rational, fair and effective fundamentals . From an economic perspective most empirical studies regarding the matters of transfer pricing, converge on delimitation of the methods for determining transfer prices fall into 3 groups: cost-based methods; methods based on market value and methods based on negotiation. But we can say with certainty that there is no perfect method of calculation that would meet all the criteria. Therefore, the main purpose of this article is to present methods for determining transfer prices from an economic point of view, highlighting the advantages and disadvantages of each of them.
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Management is defined as a skill of managing business with people and with people’s help in order to realize organization goals. From that definition it can be concluded that the function of leadership is directed to goals, organization, managers, employees and jobs. All the mentioned constituents of leadership function are covered by human organization factor. Behavior, communication, motivation and leadership are also implied here. According to the above mentioned leadership is the most demanding management function used for directing and motivating employees to conduct a certain working task. The organization goals are defined by managers and realized by employees, conducting certain jobs on the basis of work division and establishment of the company organization structure. Such combination of leadership elements enables making plans in which organization goals are determined. Leaders have many functions in the group they lead. They create vision and enthusiasm for their realization; encourage ideas and changes; explain, transfer and maintain ideas; manage conflicts, coordinate group activities; represent the group and organization; encourage and suggest solutions as well as offer security and optimism in problematic situations and crises. Leadership makes the process either successful or unsuccessful depending on manager’s capability.The leadership skills depend on the individual’s capability and if that person is a leader at the same time. It is assumed that influencing other people to readily contribute to the implementation of goals is the essence of leadership. Hierarchical position is not important to become a leader,a person cannot become a leader by getting a position in the organization because leadership is action not position according to H. Boren.
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