This paper aims at presenting the determinants of private equity investments in Romania over the period 2000 - 2013. Additionally, this paper presents the main highlights in terms of evolution, source of funding and activities in which the private equity funds invested during the crisis. Starting from the existing literature, this paper extends the analysis of private equity drivers to Romanian market by including variables such as: economic growth, market capitalization, interest rate, unemployment rate and public R&D expenditure which were already tested in previous papers. In addition, this paper introduces new variables such us productivity and corruption index which we consider important factors in explaining the evolution of private equity investments in Romania.
The results of our empirical model confirmed existing hypothesis regarding the importance of some determinants such as: unemployment rate, economic growth, market capitalization and corruption. Based on our empirical results, we have pointed several strategic directions that are meant to support the development of the private equity market in Romania. Keywords: private equity; economic growth; market capitalization; unemployment rate; corruption; private equity determinants; Romania.
Each branch of law acknowledges a specific form of liability. Therefore there are several forms of liability: disciplinary, civil, criminal, etc. These forms of legal liability are characterized by specific conditions of substance and form (way of establishment, embodiments, etc.). Therefore, the commission of an infringement determines the intervention of legal liability and the application of penalties. The penalty is a means to materialize liability and it will take its shape. In this scientific approach we intend to analyze the application of disciplinary penalties to civil servants.
The purpose of this paper is to analyze labor resources in Bihor County and to highlight some of aspects that characterize the current condition of this population category. In this respect, the paper reveals that the population is found in a process of demographic aging, with negative implications upon the utilization of workforce. Based on analysis of statistical data provided by the statistical yearbook, the paper result show that the workforce renewal rate in Bihor County is in deficit, respectively 100 individuals turned inactive, are replaced by only 79 individuals, who come under the category of the active population. Furthermore, the fact that the active civilian population represents only 66,9 % of the overall potential active population, emphasizes a relatively feeble use of the workforce. Finally, the paper reveals a significant numeric decrease, during the past years, of the individuals activating within the healthcare and social work departments. Thus, this decrease has a negative consequence upon the health condition of the population
Entrepreneurship is a topic much debated and analyzed by many research institutions and organizations. In recent years, the total number of entrepreneurs has been increasing significantly, female entrepreneurship being the one that has increased a lot. In this study, we are going to present and analyze the results of studies conducted at European level regarding the comparative evolution of male versus female entrepreneurship. The main conclusion that emerges from the analysis of the results obtained is that the number of women entrepreneurs is almost equal to that of men entrepreneurs in many European countries.
Human capital has an impact on economic growth by several channels. This study presents a conceptual research model that we built starting from the economic increase models which explain the way in which the revenue per inhabitant was created taking into account mechanisms, channels and influence factors. I applied this model to the member states of the European Union and the results obtained confirmed the existence of some positive effects of human capital - expressed through education - on economic growth.
The present paper offers an in-depth view about the online advertising formats that are used by Romanian companies or digital advertising agencies. The qualitative research based on semi-structured detailed interviews with 12 professionals, took place in Bucharest, in February-March 2015. From the online advertising formats defined by IAB, the Romanian representatives mentioned to promote their organizations or to develop campaigns for their clients by using: search, display, social media, video advertising, affiliate marketing and sponsorship advertising format (advertorials and content sponsorship). The specialists argued about the most relevant and efficient online advertising format that they use. From their personal experience, the professionals were asked to mention which are the elements / attributes that have a significant impact on: search, display, video, social media and mobile advertising campaigns. All the respondents mentioned that their companies use remarketing campaigns. The budget of an online advertising campaign is settled differently among the formats used. The purpose of the paper is to analyze the views of professionals regarding the Romanian online advertising market and this study precedes a quantitative research among Romanian consumers exposed to online advertising campaigns in order to make a comparison between the results obtained in both studies and propose a model of online advertising campaign as close to consumers‟ wants.
E-government public services in Romania must follow unitary procedures considering the new requirements of the European Union from the Digital Agenda for Europe Strategy 2020. E-government 2.0 has to be implemented because of the cultural and behavioral transformations in the interaction between governments and users of e-services. E-government 2.0 projects use tools and techniques of social media to accomplish their goals. This article examines the possible risk categories and the risk management procedures needed to mitigate risks in future Romanian e-government projects, according to the strategic lines of development for the Digital Agenda. We propose a risk management plan for the e-government lines of action within the strategic lines of development that includes identifying, assessing, and mitigating the risks. New and modernized government services through e-government 2.0 projects that apply risk management will bring a significant improvement in how citizens and businesses relate to government and will increase the use of e-government services.
The future of sustainable development is the bioeconomy with the ―global‖ solution; both global and local action for developed the renewable energy generation. When local solutions are implemented is being laid for global solutions are positive affect the national economy. The implementation of the bioeconomy strategy used by society to prevent urgent problems, such as increasing competition for natural resources, climate change, rural sustainable development. The bioeconomy is a new economic and social order and promotes systemic change from using non-renewable resources to renewables. Bioeconomy reveals that production, which involves the transformation of a limited stock of matter and energy, but respecting the same laws that govern entropy closed systems, the entropy or unavailable matter and energy in the forms tend to increase continuously. Economic growth not only increases the apparent output per unit of inputs, which is performed using finite stock of matter and energy in the world. The current economy is based on fossil fuels and other material inputs suffering entropic degradation, both in the raw material extraction and pollution. The production, even if technical progress leads to lower overall yields. The idea of a steady state as the final economic growth that perpetuated indefinitely pendulum model is an impossibility
Profit-maximizing behavior or moral integrity? Can companies have both? Our study takes a look at 300 U.S. based companies listed on the New York Stock Exchange and NASDAQ, and their way of dealing with business ethics. The research undertaken focuses on the content analysis method, using the corporate Codes of conduct and Corporate Social Responsibility (CSR) reports. The study reveals the evolution of the corporate ethics policies and programs throughout the years 2010- 2014. We also take a look at the most frequent controversies concerning business integrity, by sectors of activity
Although it is mostly used in Medicine, the placebo effect has been exploited in Marketing as well, in recent years. In Medicine, the placebo effect is defined as the improving state of a patient as a result of administering a simulated treatment, without any therapeutic healing effect. The current paper presents the results obtained in the studies that tested the placebo effect in marketing, and the conclusions of an experiment in which the possibility of producing the placebo effect on the consumer when the country of origin of an identical product differs was tested