Abstract In recent years more countries are moving their policy rates below zero thus posing questions needing to be researched regarding how global financial markets react to such changes. Our paper reviews what these changes mean for global financial markets, discussing that financial markets react the same way as they would if rates were lowered, asset prices increase.
{"title":"Analysis of Negative Interest Rate Policies and Their Impact on Global Financial Markets – A Review of Relevant Literature","authors":"Toni Brown, Aleksandar Vasilev","doi":"10.2478/amso-2022-0001","DOIUrl":"https://doi.org/10.2478/amso-2022-0001","url":null,"abstract":"Abstract In recent years more countries are moving their policy rates below zero thus posing questions needing to be researched regarding how global financial markets react to such changes. Our paper reviews what these changes mean for global financial markets, discussing that financial markets react the same way as they would if rates were lowered, asset prices increase.","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126714508","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The case study highlights the importance of post-listing conduct in line with investor expectations through statistical research on the market impact of high compliance. In this way, it explores whether a proactive approach and the quality of organisational culture can be strategic pillars for companies listed on AeRO market administered by Bucharest Stock Exchange in relation to the capital market. The main finding based on the regression methodology shows that there is a positive and statistically significant relationship between the corporate governance quality score and investor relations, i.e. the liquidity score. The regression coefficient obtained supports the hypothesis that 46% of the investment behaviour manifested in the market, expressed by the value traded, can be explained by the quality of corporate governance and investor interaction supported by issuers.
{"title":"Research Regarding Sound Corporate Goverance Practices in Investors Relation – Case of SMT Aero Issuers Listed on Bucharest Stock Exchange","authors":"Ioan-Ovidiu Spătăcean, Crina Mihaela Pungea","doi":"10.2478/amso-2022-0006","DOIUrl":"https://doi.org/10.2478/amso-2022-0006","url":null,"abstract":"Abstract The case study highlights the importance of post-listing conduct in line with investor expectations through statistical research on the market impact of high compliance. In this way, it explores whether a proactive approach and the quality of organisational culture can be strategic pillars for companies listed on AeRO market administered by Bucharest Stock Exchange in relation to the capital market. The main finding based on the regression methodology shows that there is a positive and statistically significant relationship between the corporate governance quality score and investor relations, i.e. the liquidity score. The regression coefficient obtained supports the hypothesis that 46% of the investment behaviour manifested in the market, expressed by the value traded, can be explained by the quality of corporate governance and investor interaction supported by issuers.","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133218117","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Investor behavior around an initial public offering or private placement can make the difference between a successful investment or a potential loss. Through the present research, the correlation of investors’ behavior with the possible discount of the share granted in the case of initial offers was sought. The large number of companies listed on the Bucharest Stock Exchange in 2021(23) compared to 2020(3) denotes the fact that the SARS-COV2 virus was a certain catalyst of interest for investors and companies to enter the Romanian capital market. From another point of view, we observe a strong orientation of companies towards MTF AeRO. Out of the total of 26 analyzed companies, only 3 of them chose the regulated market for trading
{"title":"Empirical Research on Investor Behavior in Pre-Listing and Post-Listing Periods - A Comparative Analysis Between the Regulated Market and the MTF Aero Administered by the Bucharest Stock Exchange","authors":"Ioan-Ovidiu Spătăcean, Dorinel-Vasile Todoran","doi":"10.2478/amso-2022-0004","DOIUrl":"https://doi.org/10.2478/amso-2022-0004","url":null,"abstract":"Abstract Investor behavior around an initial public offering or private placement can make the difference between a successful investment or a potential loss. Through the present research, the correlation of investors’ behavior with the possible discount of the share granted in the case of initial offers was sought. The large number of companies listed on the Bucharest Stock Exchange in 2021(23) compared to 2020(3) denotes the fact that the SARS-COV2 virus was a certain catalyst of interest for investors and companies to enter the Romanian capital market. From another point of view, we observe a strong orientation of companies towards MTF AeRO. Out of the total of 26 analyzed companies, only 3 of them chose the regulated market for trading","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132921547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The importance of the chosen theme is given by the lack of implementation of these technologies on the Romanian market, respectively to companies in the SME category, because this niche at the moment is one in full development and expansion. In the first part, entitled ‘Artificial intelligence – definitions, classifications’, the theoretical aspects of artificial intelligence systems in general, the direction of development in general, are presented, the types and categories of artificial intelligence and not least the facilities and effects of the use of artificial intelligence in general and in the fields of medicine, energy, production, education, finance and the transport industry respectively. In the second part entitled “Current trends in the development of integrated ERP systems” it analyzes the procedures for the integration of artificial intelligence elements as well as market analysis through the analysis of ERP solutions equipped with existing AI, the modules of the IT solutions that have been improved with artificial intelligence and other key elements with an impact on the implementations.
{"title":"Elements of Artificial Intelligence in Integrated Information Systems","authors":"Albert Attila Keresztesi, M. Reş","doi":"10.2478/amso-2022-0008","DOIUrl":"https://doi.org/10.2478/amso-2022-0008","url":null,"abstract":"Abstract The importance of the chosen theme is given by the lack of implementation of these technologies on the Romanian market, respectively to companies in the SME category, because this niche at the moment is one in full development and expansion. In the first part, entitled ‘Artificial intelligence – definitions, classifications’, the theoretical aspects of artificial intelligence systems in general, the direction of development in general, are presented, the types and categories of artificial intelligence and not least the facilities and effects of the use of artificial intelligence in general and in the fields of medicine, energy, production, education, finance and the transport industry respectively. In the second part entitled “Current trends in the development of integrated ERP systems” it analyzes the procedures for the integration of artificial intelligence elements as well as market analysis through the analysis of ERP solutions equipped with existing AI, the modules of the IT solutions that have been improved with artificial intelligence and other key elements with an impact on the implementations.","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129001747","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Corporate advertising is essential for the functioning of an efficient capital market. Over the past decade, social networks have begun to become an integral part of the contemporary lifestyle of entities, being used as a means of communication with stakeholders. The quantitative research carried out on the sample of 119 companies in the medical sector, listed on the European stock exchanges, closely follows the correlations between the use of social networks and the financial information disseminated to the public. Techniques of exploratory data analysis were used to identify the determinants of financial communication through social means, followed by the calculation of the index of the use of these means of communication and its correlation with the financial performance rates of the studied companies. We believe that the ubiquitous adoption of technologies plays an essential role in the communication between management and users, bringing an indirect contribution to the proper functioning of an entity.
{"title":"Financial Reporting on Social Media. Empirical Study on the European Medical Sector.","authors":"Tatiana Dănescu, Roxana Maria Stejerean","doi":"10.2478/amso-2022-0002","DOIUrl":"https://doi.org/10.2478/amso-2022-0002","url":null,"abstract":"Abstract Corporate advertising is essential for the functioning of an efficient capital market. Over the past decade, social networks have begun to become an integral part of the contemporary lifestyle of entities, being used as a means of communication with stakeholders. The quantitative research carried out on the sample of 119 companies in the medical sector, listed on the European stock exchanges, closely follows the correlations between the use of social networks and the financial information disseminated to the public. Techniques of exploratory data analysis were used to identify the determinants of financial communication through social means, followed by the calculation of the index of the use of these means of communication and its correlation with the financial performance rates of the studied companies. We believe that the ubiquitous adoption of technologies plays an essential role in the communication between management and users, bringing an indirect contribution to the proper functioning of an entity.","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133959253","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract A series of supplementary services to solve communication problems between deaf-mute people and society could decrease the additional risk caused by communication impairments and break the boundaries between deaf-mute people and doctors/society. This scientific article will serve as the basis of a future application to ease the social and medical burden of hearing-impaired patients. The economic effect that the integration of deaf-mute people can have involves both decreasing the costs allocated to social and health services for this category of people, and increasing the contribution of each deaf-mute person by increasing his productivity as an employee at a company/institution.
{"title":"Business Model Oriented Towards Solutions to Improve the Communication Efficiency of Deaf-Mute People","authors":"Eduard-Cristian Enache, Mihai Timus","doi":"10.2478/amso-2022-0009","DOIUrl":"https://doi.org/10.2478/amso-2022-0009","url":null,"abstract":"Abstract A series of supplementary services to solve communication problems between deaf-mute people and society could decrease the additional risk caused by communication impairments and break the boundaries between deaf-mute people and doctors/society. This scientific article will serve as the basis of a future application to ease the social and medical burden of hearing-impaired patients. The economic effect that the integration of deaf-mute people can have involves both decreasing the costs allocated to social and health services for this category of people, and increasing the contribution of each deaf-mute person by increasing his productivity as an employee at a company/institution.","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116343195","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Following the global changes during the pandemic period, employers and employees had to comply with the requirements and rules imposed, and those who did not adapt were eliminated or suffered numerous damages. The study highlights the importance of psychological constructs involved in the industry, such as stress, burnout, adaptability and professional coping mechanisms. The article includes objectives, purpose, hypotheses, conceptual bases, methodology, tools for measuring them and addresses part of the specialized literature about the concepts mentioned at the workplace and their measurement. The aim being to highlight the relationships between stress - adaptability and professional burnout, stress - low performance at work.
{"title":"Adaptability, Burnout And Coping Mechanisms Present In The Machine Manufacturing Industry","authors":"Camelia Angelica Dâmbean, R. Gabor","doi":"10.2478/amso-2022-0003","DOIUrl":"https://doi.org/10.2478/amso-2022-0003","url":null,"abstract":"Abstract Following the global changes during the pandemic period, employers and employees had to comply with the requirements and rules imposed, and those who did not adapt were eliminated or suffered numerous damages. The study highlights the importance of psychological constructs involved in the industry, such as stress, burnout, adaptability and professional coping mechanisms. The article includes objectives, purpose, hypotheses, conceptual bases, methodology, tools for measuring them and addresses part of the specialized literature about the concepts mentioned at the workplace and their measurement. The aim being to highlight the relationships between stress - adaptability and professional burnout, stress - low performance at work.","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"99 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134435154","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The financial performance of a commercial company is dependent on a multitude of factors, which can be grouped into external factors and internal factors. Through the conducted study, we tried to analyze the influence of external factors specific to the period of the COVID-19 pandemic, on the financial performance of some commercial companies in the field of manufacturing pharmaceutical products in Romania (Antibiotice) pharmaceutical preparations (Biofarm, Zentiva) ambulatory healthcare activity (Med Life). These commercial companies faced the conditions of the COVID-19 pandemic period, the measures taken in this regard, as well as the fierce competition from some international manufacturers (Sanofi, Sandoz Romania, Hoffmann la Roche, Pfizer, etc.). Thus, some commercial companies in the field of manufacturing pharmaceutical products have reduced their volume of activity and others have performed much higher than the pre-pandemic period.
{"title":"Assessment of the Impact of the COVID-19 Pandemic on the Financial Performance of Companies in the Pharmaceutical Field in Romania","authors":"Ioan Bircea, Crina Teodora","doi":"10.2478/amso-2022-0005","DOIUrl":"https://doi.org/10.2478/amso-2022-0005","url":null,"abstract":"Abstract The financial performance of a commercial company is dependent on a multitude of factors, which can be grouped into external factors and internal factors. Through the conducted study, we tried to analyze the influence of external factors specific to the period of the COVID-19 pandemic, on the financial performance of some commercial companies in the field of manufacturing pharmaceutical products in Romania (Antibiotice) pharmaceutical preparations (Biofarm, Zentiva) ambulatory healthcare activity (Med Life). These commercial companies faced the conditions of the COVID-19 pandemic period, the measures taken in this regard, as well as the fierce competition from some international manufacturers (Sanofi, Sandoz Romania, Hoffmann la Roche, Pfizer, etc.). Thus, some commercial companies in the field of manufacturing pharmaceutical products have reduced their volume of activity and others have performed much higher than the pre-pandemic period.","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"114 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122907145","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract In a world where economic challenges and changes are permanent, economic entities, and especially the management of these entities, need correct and useful information to be able to make effective economic decisions regarding the present and future activity of the entities. Financial performance analysis is an indispensable and permanent managerial task, without which plans regarding future investments or strategies cannot be drawn up. The aim of the paper is to analyze the financial performance of the company SC UNOTIP SRL, based on the data from the financial statements for 5 consecutive years, with the help of the indicators that can best characterize the financial performance. Following this analysis, the authors formulate conclusions and recommendations regarding the improvement of the analyzed company’s performance.
{"title":"Financial Performance Analysis at SC UNOTIP SRL","authors":"Adrian Blaga, K. Zsidó","doi":"10.2478/amso-2022-0007","DOIUrl":"https://doi.org/10.2478/amso-2022-0007","url":null,"abstract":"Abstract In a world where economic challenges and changes are permanent, economic entities, and especially the management of these entities, need correct and useful information to be able to make effective economic decisions regarding the present and future activity of the entities. Financial performance analysis is an indispensable and permanent managerial task, without which plans regarding future investments or strategies cannot be drawn up. The aim of the paper is to analyze the financial performance of the company SC UNOTIP SRL, based on the data from the financial statements for 5 consecutive years, with the help of the indicators that can best characterize the financial performance. Following this analysis, the authors formulate conclusions and recommendations regarding the improvement of the analyzed company’s performance.","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"82 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116958593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The COVID-19 pandemic has imposed the acceleration of the digital transformation processes of organizations, regardless of the sector of activity. Moreover, currently, achieving sustainability indicators is particularly important, digitalization being an important step to minimize the social and environmental impact of organizations’ activities. Our paper aims to identify the internal and external factors that influence the adoption of an IT Service Management solution during the pandemic in a public university in Romania that is in the process of transition to become a sustainable university.
{"title":"Implementation of IT Service Management Solutions in the University Environment Beyond the COVID-19 Pandemic: a SWOT Analysis","authors":"Liviu Ciucan-Rusu, Marius-Petru Poptămaş","doi":"10.2478/amso-2021-0009","DOIUrl":"https://doi.org/10.2478/amso-2021-0009","url":null,"abstract":"Abstract The COVID-19 pandemic has imposed the acceleration of the digital transformation processes of organizations, regardless of the sector of activity. Moreover, currently, achieving sustainability indicators is particularly important, digitalization being an important step to minimize the social and environmental impact of organizations’ activities. Our paper aims to identify the internal and external factors that influence the adoption of an IT Service Management solution during the pandemic in a public university in Romania that is in the process of transition to become a sustainable university.","PeriodicalId":258995,"journal":{"name":"Acta Marisiensis. Seria Oeconomica","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131561525","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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