Abstract A consistent body of research is dedicated to the relationship between the ownership structure of a firm and its financial performance. Despite that, the hitherto researches fail to reach a consensus regarding this issue since both negative and positive relationships have been found out. This paper examines the impact of ownership’s type (more precise the impact of the family ownership) on the firm’s financial performance. The analysis includes a comparison between family and non-family firm performance using a sample of 1,161 Romanian companies and 1,342 German companies for a time frame that range between 2008 to 2015. Based on different types of static panel data regressions: Pooled Ordinary Least Squares (OLS), Fixed Effects (FE), Random Effects (RE) and a corrective model (PCSE), the main findings show very different results for the two considered countries. Financial performance, expressed as return on assets (ROA) and return on equity (ROE) seems to be insensitive to family ownership in Romanian companies and statistically positively correlated with it for German ones. A potential explanation for these outputs consists in the different development circumstances in the two countries in the period that forego the Second War. At the same time, other variables considered do not show significant differences in outcome between the two countries: size, age, capital intensity and leverage negatively influence the financial performance of companies.
{"title":"Family Ownership and Firm Performance: Romania Versus Germany","authors":"M. Schank, Aurora Murgea, Cosmin Enache","doi":"10.1515/tjeb-2017-0011","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0011","url":null,"abstract":"Abstract A consistent body of research is dedicated to the relationship between the ownership structure of a firm and its financial performance. Despite that, the hitherto researches fail to reach a consensus regarding this issue since both negative and positive relationships have been found out. This paper examines the impact of ownership’s type (more precise the impact of the family ownership) on the firm’s financial performance. The analysis includes a comparison between family and non-family firm performance using a sample of 1,161 Romanian companies and 1,342 German companies for a time frame that range between 2008 to 2015. Based on different types of static panel data regressions: Pooled Ordinary Least Squares (OLS), Fixed Effects (FE), Random Effects (RE) and a corrective model (PCSE), the main findings show very different results for the two considered countries. Financial performance, expressed as return on assets (ROA) and return on equity (ROE) seems to be insensitive to family ownership in Romanian companies and statistically positively correlated with it for German ones. A potential explanation for these outputs consists in the different development circumstances in the two countries in the period that forego the Second War. At the same time, other variables considered do not show significant differences in outcome between the two countries: size, age, capital intensity and leverage negatively influence the financial performance of companies.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"169 - 186"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41811207","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 This paper looks at the impact of foreign exchange rate policies on industrial growth in Nigeria between 1981 and 2016. The study employed the Vector Error Correction Model (VECM) techniques, following the results of Johansen Cointegration techniques that shows the existence of long run relationship among the variables considered. While, VECM estimates showed that money supply (monetary policy) impacted positively effects, evidence on, TAX (fiscal policy) impacted negative on industrial growth. Besides, the Exchange rate and Inflation impacted negatively on industrial growth., suggesting that the issue of stability remained a challenge unresolved by the Apex bank. The emanating policy antidotes are that there is urgent need to use proactive monetary policy through money supply to speed up the rate of industrial growth on one hand, while providing tax incentive to various industrial good that can further have enhanced the contribution of the sector to industrial growth on the other. In all, the need to align the objective of exchange rate policy with broader macroeconomic goals is necessary for effective policy transmission mechanism to speed up the rate of industrial progress in the country.
{"title":"Imperative of Exchange Rates Policy and Industrial Growth in Nigeria: A Time Series Analysis","authors":"O. Shobande","doi":"10.1515/tjeb-2017-0012","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0012","url":null,"abstract":"Abstract This paper looks at the impact of foreign exchange rate policies on industrial growth in Nigeria between 1981 and 2016. The study employed the Vector Error Correction Model (VECM) techniques, following the results of Johansen Cointegration techniques that shows the existence of long run relationship among the variables considered. While, VECM estimates showed that money supply (monetary policy) impacted positively effects, evidence on, TAX (fiscal policy) impacted negative on industrial growth. Besides, the Exchange rate and Inflation impacted negatively on industrial growth., suggesting that the issue of stability remained a challenge unresolved by the Apex bank. The emanating policy antidotes are that there is urgent need to use proactive monetary policy through money supply to speed up the rate of industrial growth on one hand, while providing tax incentive to various industrial good that can further have enhanced the contribution of the sector to industrial growth on the other. In all, the need to align the objective of exchange rate policy with broader macroeconomic goals is necessary for effective policy transmission mechanism to speed up the rate of industrial progress in the country.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"187 - 198"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49364149","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 This article investigates the political resistance to fiscal stability institutions in Romanian context, as revealed in political discourse. To ascertain the a priori political predisposition against the fiscal stability framework, the theoretical findings of the public choice school of economics are utilized. Insights from the political discourse analysis body of literature are employed to the study of discourse against established fiscal stability institutions. Since the consensus arising from this literature is that politics is both acting and talking, the unit of analysis in our examination is the statement that can be classified as political discourse. After briefly analyzing the broader institutional context that provides the background for political discourse, the main storylines against fiscal stability recently emerged are reviewed. Seeking to determine the traits of the dominant political discourse against fiscal stability displayed by Romanian politicians in recent years, a quantitative assessment of the usage of these storylines is given. We find that publicly expressed disagreement with established fiscal stability institutions from the part of politicians and high-ranking bureaucrats has drastically increased over the analyzed period. The research has also revealed that the most employed storyline has been the one that belittles the significance of fiscal stability if the state uses the fiscal revenues for investing in transport infrastructure.
{"title":"Fiscal Stability in Political Discourse: The Romanian Case","authors":"Radu Șimandan","doi":"10.1515/tjeb-2017-0007","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0007","url":null,"abstract":"Abstract This article investigates the political resistance to fiscal stability institutions in Romanian context, as revealed in political discourse. To ascertain the a priori political predisposition against the fiscal stability framework, the theoretical findings of the public choice school of economics are utilized. Insights from the political discourse analysis body of literature are employed to the study of discourse against established fiscal stability institutions. Since the consensus arising from this literature is that politics is both acting and talking, the unit of analysis in our examination is the statement that can be classified as political discourse. After briefly analyzing the broader institutional context that provides the background for political discourse, the main storylines against fiscal stability recently emerged are reviewed. Seeking to determine the traits of the dominant political discourse against fiscal stability displayed by Romanian politicians in recent years, a quantitative assessment of the usage of these storylines is given. We find that publicly expressed disagreement with established fiscal stability institutions from the part of politicians and high-ranking bureaucrats has drastically increased over the analyzed period. The research has also revealed that the most employed storyline has been the one that belittles the significance of fiscal stability if the state uses the fiscal revenues for investing in transport infrastructure.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"104 - 119"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47816229","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 This paper studies the combined effects of innovation and information and communication technologies (ICT) on the performance of Small and Medium Enterprises (SMEs). To do this, it uses data from the «General survey of Companies in Cameroon», conducted on 93,969 companies by the National Institute of Statistics (NIS). Of the 93,969 companies surveyed, only 8035 enterprises were questioned according to the synthesis report published in 2010 by the NIS. From this sample, this study extracts innovative SMEs and applies a multiple regression model to assess the direct effects of innovative activities and the use of ICT on SME performance. The econometric analysis shows that: ICT helps to increase SME performance by supporting innovation through the acquisition of new software and hardware equipment. Thus, innovation accompanied by the firm’s use of ICT has a significant effect on performance since Software and Machinery Acquisition related to technological innovations contribute to the firm’s productivity. However, the degree to which the use of ICTs is rooted in the company can accelerate the innovation process and, in the same way, improve firm performance in terms of cost reduction and rationalisation of processes.
{"title":"Performance Perspectives for Small and Medium Enterprises in Cameroon: Innovation and ICTs","authors":"André Dumas Tsambou, Benjamin Fomba Kamga","doi":"10.1515/tjeb-2017-0005","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0005","url":null,"abstract":"Abstract This paper studies the combined effects of innovation and information and communication technologies (ICT) on the performance of Small and Medium Enterprises (SMEs). To do this, it uses data from the «General survey of Companies in Cameroon», conducted on 93,969 companies by the National Institute of Statistics (NIS). Of the 93,969 companies surveyed, only 8035 enterprises were questioned according to the synthesis report published in 2010 by the NIS. From this sample, this study extracts innovative SMEs and applies a multiple regression model to assess the direct effects of innovative activities and the use of ICT on SME performance. The econometric analysis shows that: ICT helps to increase SME performance by supporting innovation through the acquisition of new software and hardware equipment. Thus, innovation accompanied by the firm’s use of ICT has a significant effect on performance since Software and Machinery Acquisition related to technological innovations contribute to the firm’s productivity. However, the degree to which the use of ICTs is rooted in the company can accelerate the innovation process and, in the same way, improve firm performance in terms of cost reduction and rationalisation of processes.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"68 - 87"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1515/tjeb-2017-0005","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45380112","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 role which financing human development plays in fostering the sectorial growth of an economy cannot be undermined. It is a key instrument which can be utilized to alleviate poverty, create employment and ensure the sustenance of economic growth and development. Thus financing human development for sectorial growth has taken the center stage of economic growth and development strategies in most countries. In a constructive effort to examine the in-depth relationship between the variables in the Nigerian space, this paper provides evidence on the impact of financing human development and sectorial growth in Nigeria between 1982 and 2016, using the Johansen co-integration techniques to test for co-integration among the variables and the Vector Error Correction Model (VECM) to ascertain the speed of adjustment of the variables to their long run equilibrium position. The analysis shows that a long and short run relationship exists between financing human capital development and sectorial growth during the period reviewed. Therefore, the paper argues that for an active foundation for sustainable sectorial growth and development, financing human capital development across each unit is urgently required through increased budgetary allocation for both health and educational sectors since they are key components of human capital development in a nation.
{"title":"Financing Human Development for Sectorial Growth: A Time Series Analysis","authors":"Abdul Olatunji Shobande, Charles C. Etukomeni","doi":"10.1515/tjeb-2017-0004","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0004","url":null,"abstract":"Abstract The role which financing human development plays in fostering the sectorial growth of an economy cannot be undermined. It is a key instrument which can be utilized to alleviate poverty, create employment and ensure the sustenance of economic growth and development. Thus financing human development for sectorial growth has taken the center stage of economic growth and development strategies in most countries. In a constructive effort to examine the in-depth relationship between the variables in the Nigerian space, this paper provides evidence on the impact of financing human development and sectorial growth in Nigeria between 1982 and 2016, using the Johansen co-integration techniques to test for co-integration among the variables and the Vector Error Correction Model (VECM) to ascertain the speed of adjustment of the variables to their long run equilibrium position. The analysis shows that a long and short run relationship exists between financing human capital development and sectorial growth during the period reviewed. Therefore, the paper argues that for an active foundation for sustainable sectorial growth and development, financing human capital development across each unit is urgently required through increased budgetary allocation for both health and educational sectors since they are key components of human capital development in a nation.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"51 - 67"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42926854","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 Modern educational technologies encompass a variety of variables such as people, processes, assets, environments, technology. These variables are part of a complex system which has some important properties and a final purpose: delivering learning material and keeping track of the recipient’s evolution and development. The purpose of this paper is to define the system of modern educational technologies with the help of its variables and internal or external processes as well as to find where mobile learning fits in this large system. From a technical point of view we want to analyze whether Service Oriented Architecture (SOA) is enough or proper to integrate mobile learning in this system. At the end we should be able to decide if dedicated mobile apps, or mobile friendly sites or a combination of those two are suited to deliver the results we are looking for with the support of SOA, if we consider the variety of devices and operating systems we are trying to integrate.
{"title":"SOA – The Link Between Modern Educational Technologies and Mobile Learning in the Higher Education Landscape","authors":"Roxana marina Popa strainu, M. Georgescu","doi":"10.1515/tjeb-2017-0008","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0008","url":null,"abstract":"Abstract Modern educational technologies encompass a variety of variables such as people, processes, assets, environments, technology. These variables are part of a complex system which has some important properties and a final purpose: delivering learning material and keeping track of the recipient’s evolution and development. The purpose of this paper is to define the system of modern educational technologies with the help of its variables and internal or external processes as well as to find where mobile learning fits in this large system. From a technical point of view we want to analyze whether Service Oriented Architecture (SOA) is enough or proper to integrate mobile learning in this system. At the end we should be able to decide if dedicated mobile apps, or mobile friendly sites or a combination of those two are suited to deliver the results we are looking for with the support of SOA, if we consider the variety of devices and operating systems we are trying to integrate.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"120 - 133"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43662740","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 present paper presents a series of results concerning the labour market impact of the foreign direct investment (FDI) inflows in Romania, during the period 2005-2014. In order to reach this objective, we have conducted both an investigation of the specialized literature and an econometric analysis, based on a pooled OLS regression. The added value of this study results from the novelty aspects brought by the results, which indicate two new roles of FDI on the Romanian labour market: a potential “gap-widening” effect between the civil employment and number of employees and a “crawling” effect on the net income. Since the results showed a positive correlation between FDI and civil employment and also between FDI and the average number of employees, the first effect suggests that most of employees of the foreign firms work there less than one year. This may explain why foreign companies are not motivated to offer their employees much higher wages than the local firms and thus that the effect of FDI on nominal net income is very small (“crawling” effect).
{"title":"The Impact of Foreign Direct Investment on the Romanian Labour Market: New Evidence from a Pooled Model","authors":"Laura Diaconu Maxim, Daniel Șterbuleac","doi":"10.1515/tjeb-2017-0002","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0002","url":null,"abstract":"Abstract The present paper presents a series of results concerning the labour market impact of the foreign direct investment (FDI) inflows in Romania, during the period 2005-2014. In order to reach this objective, we have conducted both an investigation of the specialized literature and an econometric analysis, based on a pooled OLS regression. The added value of this study results from the novelty aspects brought by the results, which indicate two new roles of FDI on the Romanian labour market: a potential “gap-widening” effect between the civil employment and number of employees and a “crawling” effect on the net income. Since the results showed a positive correlation between FDI and civil employment and also between FDI and the average number of employees, the first effect suggests that most of employees of the foreign firms work there less than one year. This may explain why foreign companies are not motivated to offer their employees much higher wages than the local firms and thus that the effect of FDI on nominal net income is very small (“crawling” effect).","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"19 - 34"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1515/tjeb-2017-0002","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45885145","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}
Marin Fotache, Gabriela Mesnita, Florin Dumitriu, G. Olaru
Abstract Information Systems (IS) analysts and designers have been key members in software development teams. From waterfall to Rational Unified Process, from UML to agile development, IS modelers have faced many trends and buzzwords. Even if the topic of models and modeling tools in software development is important, there are no many detailed studies to identify for what the developers, customers and managers decide to use the modeling and specific tools. Despite the popularity of the subject, studies showing what tools the IS modelers prefer are scarce, and quasi-non-existent, when talking about Romanian market. As Romania is an important IT outsourcing market, this paper investigated what methods and tools Romanian IS analysts and designers apply. In this context, the starting question of our research focuses on the preference of the developers to choose between agile or non-agile methods in IT projects. As a result, the research questions targeted the main drivers in choosing specific methods and tools for IT projects deployed in Romanian companies. Also, one of the main objectives of this paper was to approach the relationship between the methodologies (agile or non-agile), diagrams and other tools (we refer in our study to the CASE features) with other variables/metrics of the system/software development project. The observational study was conducted based on a survey filled by IS modelers in Romanian IT companies. The data collected were processed and analyzed using Exploratory Data Analysis. The platform for data visualization and analysis was R.
{"title":"A Few Insights Into Romanian Information Systems Analysts and Designers Toolbox","authors":"Marin Fotache, Gabriela Mesnita, Florin Dumitriu, G. Olaru","doi":"10.1515/tjeb-2017-0001","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0001","url":null,"abstract":"Abstract Information Systems (IS) analysts and designers have been key members in software development teams. From waterfall to Rational Unified Process, from UML to agile development, IS modelers have faced many trends and buzzwords. Even if the topic of models and modeling tools in software development is important, there are no many detailed studies to identify for what the developers, customers and managers decide to use the modeling and specific tools. Despite the popularity of the subject, studies showing what tools the IS modelers prefer are scarce, and quasi-non-existent, when talking about Romanian market. As Romania is an important IT outsourcing market, this paper investigated what methods and tools Romanian IS analysts and designers apply. In this context, the starting question of our research focuses on the preference of the developers to choose between agile or non-agile methods in IT projects. As a result, the research questions targeted the main drivers in choosing specific methods and tools for IT projects deployed in Romanian companies. Also, one of the main objectives of this paper was to approach the relationship between the methodologies (agile or non-agile), diagrams and other tools (we refer in our study to the CASE features) with other variables/metrics of the system/software development project. The observational study was conducted based on a survey filled by IS modelers in Romanian IT companies. The data collected were processed and analyzed using Exploratory Data Analysis. The platform for data visualization and analysis was R.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"1 - 18"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46941882","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 confrontation of the two doctrines, the Keynesianism and the Supply-side economics highlight that the Laffer perspective is the way to achieve solid economic growth on the long way and aims the core of an “exit from crisis” policy. Therefore, this article aims to analyze the hypothesis that a high level of taxation and public spending deters productive behavior and reduces economic growth during recessions. In other words, an easy taxation and low unproductive public spending are desirable for both, the enterprising investor and the consumer. Using the example of Romanian fiscal policy, on one side, we validated within a Vector Error Correction framework that an increase in government revenues harms consumption, investment and the level of employment, in conjunction with a procyclical behavior of fiscal authorities. On the other side, our results showed some positive effects of an increased government expenditures on consumption and employment, which can be explained by the accelerate deterioration of primary balance deficit and the Central Bank’s low interest rate. Moreover, even though the initial positive response of investment to a government spending shock is positive, this is ephemeral and nonsignificant. Our findings highlight that, in order to reach growth on the long-run in times of crisis, the Romanian economy should adopt the fiscal policy and measures suggested by the Supply-side Economics.
{"title":"Demand – Supply – Taxation in Times of Crisis","authors":"D. Diaconaşu, Ion Pohoață, Oana-Ramona Socoliuc","doi":"10.1515/tjeb-2017-0006","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0006","url":null,"abstract":"Abstract The confrontation of the two doctrines, the Keynesianism and the Supply-side economics highlight that the Laffer perspective is the way to achieve solid economic growth on the long way and aims the core of an “exit from crisis” policy. Therefore, this article aims to analyze the hypothesis that a high level of taxation and public spending deters productive behavior and reduces economic growth during recessions. In other words, an easy taxation and low unproductive public spending are desirable for both, the enterprising investor and the consumer. Using the example of Romanian fiscal policy, on one side, we validated within a Vector Error Correction framework that an increase in government revenues harms consumption, investment and the level of employment, in conjunction with a procyclical behavior of fiscal authorities. On the other side, our results showed some positive effects of an increased government expenditures on consumption and employment, which can be explained by the accelerate deterioration of primary balance deficit and the Central Bank’s low interest rate. Moreover, even though the initial positive response of investment to a government spending shock is positive, this is ephemeral and nonsignificant. Our findings highlight that, in order to reach growth on the long-run in times of crisis, the Romanian economy should adopt the fiscal policy and measures suggested by the Supply-side Economics.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"103 - 88"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44762112","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 paper proposes a certain delimitation of the concepts of cooperation and co-production in services and aims to apply them concretely in education, related to the connections (cooperation) between offeror and beneficiary. The article is part of a wider plan that seeks to implement the legitimacy of using the notion of co-production in all sectors of activity, whether it is the one of goods or services to designate cooperative relationships between producer and consumer or, as we like to say, between the offeror and the beneficiary. The article starts with the definition and clarification of the concept of co-production. After briefly setting several conceptual aspects, an applied analysis is performed on a group of respondents from education, using a questionnaire developed to provide adequate information for the purposes set forth: some relationships between the influence factors of the co-production between teacher and student are analysed. The questionnaire allows us to share interesting conclusions regarding the reasons that make people to participate. An analysis of the logic behind the co-production phenomenon is offered, reserves for the improvement of such relations being revealed for the education system. The conclusions following the data analysis confirm the initial assumptions and reveal interesting aspects, as described in the final section.
{"title":"The Coordinates of Co-Production in the Educational Services System","authors":"Alexandru Jivan, Maria Barabaș","doi":"10.1515/tjeb-2017-0003","DOIUrl":"https://doi.org/10.1515/tjeb-2017-0003","url":null,"abstract":"Abstract The paper proposes a certain delimitation of the concepts of cooperation and co-production in services and aims to apply them concretely in education, related to the connections (cooperation) between offeror and beneficiary. The article is part of a wider plan that seeks to implement the legitimacy of using the notion of co-production in all sectors of activity, whether it is the one of goods or services to designate cooperative relationships between producer and consumer or, as we like to say, between the offeror and the beneficiary. The article starts with the definition and clarification of the concept of co-production. After briefly setting several conceptual aspects, an applied analysis is performed on a group of respondents from education, using a questionnaire developed to provide adequate information for the purposes set forth: some relationships between the influence factors of the co-production between teacher and student are analysed. The questionnaire allows us to share interesting conclusions regarding the reasons that make people to participate. An analysis of the logic behind the co-production phenomenon is offered, reserves for the improvement of such relations being revealed for the education system. The conclusions following the data analysis confirm the initial assumptions and reveal interesting aspects, as described in the final section.","PeriodicalId":30596,"journal":{"name":"Timisoara Journal of Economics and Business","volume":"10 1","pages":"35 - 50"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49116173","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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