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The Influence of European Cup Performances on Domestic Stadium Attendances in Romanian Football

Abstract

Widespread belief posits that a relationship exists between results obtained in European football competitions and live attendances at domestic league games. As part of the Europeanization process, international tournaments increasingly attract fans’ attention, often at the expense of national competitions, yet research up to date has focused on a wide array of explanatory variables for game attendance (spectator demand), but less on variables concerning how domestic teams perform in Europe. This article aims to fill the research gap by asking whether match attendances in national leagues can be predicted based on the results obtained by the domestic club teams in international competitions. UEFA team coefficients and domestic attendance figures for 74 European cup participations of Romanian teams spread over seventeen years from the 2000/2001 to the 2016/2017 season serve as input data for a regression model with an F-test and a p-value test. The Null Hypothesis instinctually claims no relationship exists between the variables, yet research results invalidate it for the good of the Alternative Hypothesis. The Discussions section presents what effects winning or losing in European cups can have on fans’ motivation to come and watch matches in the national league.

Open access
Achieving strategic agility through business model innovation. The case of telecom industry

Abstract

As we are part of a dynamic world oriented towards change and flexibility, the society becomes more eager to be connected and updated to the latest news. Within this context, the purpose of the current paper is to focus on the tactics the companies use in order to achieve strategic agility in the telecom industry. The study aims to seek and analyzes which are the reasons which support the telecom industry to remain innovative and competitive on the market Therefore in order to align to the exponential trend of the market for innovation, we should have an overview picture of internal capabilities of the organization like human resource, technological advances or innovation. Further on, the literature review strengthens the significance companies place on decisions which keep alive their sustainability. Many studies claim that in order to deliver top results, an organization must be aware and fully exploit its major drivers of success. The paper will bridge the literature review with a realcase analysis. We will use a survey based on a sample of companies operating with the telecom market which will be shared at different levels of the business from stakeholders to top management. The results are meant to lead to a set of findings which influence the companies in being agile on the market. The outcome might serve as a reference point for the ones interested to set up a company within this industry or who are conducting research on this subject.

Open access
Employability skills for the Romanian outsourcing industry

Abstract

The Romanian outsourcing sector as part of the service sector has evolved enormously in the last decade in Romania. Foreign Direct Investments in this sector continue to grow, thus the sector employs more than 100.000 people in 2016 in Romania. However, companies claim not to get the right skills from employees which will allow them to move the latter from a purely service sector to more value-added services. Therefore, there is a need to generate a workforce with the necessary employability skills which will serve the industry, thus allowing the continuity of growth as well as permitting to be competitive in regards to other East European countries in the outsourcing industry as salaries rise in the Romanian industry and the industry is being pressured by the 4th industrial revolution. So far, many Romanian studies have been done reflecting the skills need from the sector by using in first instance the questionnaire methodology or global surveys mostly on a very holistic view. This paper shows a new approach by deriving the skills needed by employers from their own data base: mainly job descriptions published in companies or recruitment sites by analysis of job entry positions. This allows a close and accelerated approach to define skills needed without a too high time delay in addition it permits to understand if the outsourcing industry is moving towards digitalization. The job descriptions are analyzed by using the method of qualitative content analysis according to Mayring (2014) using specific criteria based on literature review of employability skills. Key findings show that there is a need for specific skills technical skills but a trend to a higher demand in soft skills.

Open access
The energy performance contract - key towards energy efficiency in Europe?

Abstract

The paper focuses on the Energy Performance Contract (EPC) as a business model for energy efficiency. More precisely, it examines, using two case studies, enablers and disablers – from an economic, legal and institutional/managerial perspective – for advancing this arrangement across the EU. The EU has set a 20% energy savings target by 2020 (roughly equivalent to turning off 400 power stations), with an even more ambitious target of 27% by 2030. To reach these ambitious targets, the investments needed are approximately EUR 100 bn/year across the EU (according to the European Commission). Energy efficiency is not, as fervent proponents often claim, the low hanging fruit in terms of investment efforts. Like any other sub-sector, such as transmission and distribution, it demands innovative financing instruments to ensure adequate scale-up. In the paper, I use two comparative case studies to identify and classify the disablers and enablers of Energy Performance Contracting/Energy Services Companies (ESCOs) development: the European frontrunner, namely Germany, and a laggard, namely Romania. As research methodology, I use literature review, comparisons between similar government policy planning and evaluation documents, and stakeholder interviews. While academic literature on the topic (Seefeldt, 2003; Wilhelm, 2015) is developed for Germany, for Romania a critical reflection on EPC promotion policy is to be found only in industry documents (e.g.: ARPEE, 2013; Tractebel, 2015). The German success demonstrates that, contrary to the belief of Romanian stakeholders, it is not the lack of a standardized contract model that prevents EPC development, but lack of genuine commitment, drive and leadership of public officials in promoting this financing instrument. A solid communication between public authorities and private beneficiaries, and public administration capacity for impact assessment and evidence-based policy planning are two other significant enablers of EPCs, that could foster this financing instrument across the EU.

Open access
Opinion on the new financial products issued by financial institutions - structured products

Abstract

Structured products are financial instruments issued by a financial institution where the amount claimed by the investor from the issuer depends on the variation of the price of the underlying instrument based on which the certificate is issued, namely: individual shares, share costs, stock indexes, currencies, commodities or combinations of these according to the prospectus. These products appeared with the development and diversification of financial services during the recent years, as well as due to the emergence of liquidity suppliers of international importance. The liquidity providers have developed on their own platforms a new range of derivatives which are different from the classical derivatives. These new derivatives, similar to contracts for difference (CFDs), have given to other institutions the possibility of transferring their risk more easily, regardless of the nature or type of the underlying asset. Thus, the financial institutions issuing structured financial products have found in liquidity providers the possibility of developing the CFDs required for their risk transfer operations. The issuers of structured products do not accept new risky positions when they issue certificates because they neutralize them through suitable risk transfer operations. The issuing financial institutions structure certificates from a variety of financial assets and/or commodities in order to adjust them to the various risk profiles of investors both in terms of expected return and in terms of the response to risk. Thus, products are issued that quickly respond to the trends of the financial or commodity markets. Investors in structured financial products benefit from the economic effect of a derivative but are exposed to financial risks that are more complex and more difficult to understand and at the same time depend on the reliability and stability of the contractual relationships between various financial institutions.

Open access
Leadership in Higher Education – coping with AI and the turbulence of our times

Abstract

Today’s world is clearly fractured whether we are looking at it through economic, political, cultural or educational lenses. This is in no way something new. The world has always been in this state, but the speed with which it reacted to real or perceived threats and tried to change accordingly was barely perceivable and, therefore, easier to adopt and adapt to. Today those changes happen with incredible speed and our reactions to them may not be informed or educated and are usually taken by leaders who are, at best, controversial and at worst obviously partial to their own, petty interests against the greater public good they vowed to serve. What can higher education do in such a world? Artificial intelligence (AI) is making huge progress and, although education at all levels is lagging behind in meaningfully adopting AI and working with it, the educational system is expected to react to a world divided by the fear of AI using big data, claiming jobs, and ushering in the era of loss of human supremacy or by the glorification of AI which is only a tool, fast developing indeed, but permanently controlled by human intelligence. Even if that human intelligence is concentrated into fewer and fewer human decision makers thus contributing to the already huge gap of inequality existing in today’s world. The present paper will explore issues related to the way in which the leadership of higher education chooses to handle today’s challenges and will use the home university of the authors to illustrate what happens in Romanian universities. The discussion will be informed by the authors’ own experience in the higher education system as well as by an analysis of various discourses and narratives belonging to different stakeholders, discussing those issues in various inter/national media. The paper will offer some recommendations.

Open access
Development, competence and performance – who does what in higher education?

Abstract

Higher education is in turmoil in the whole world. Universities as organizations are being challenged by their various stakeholders. This is true of any and most organizations. Nevertheless in some places universities continue to be looked upon as providers of the correct answers to those challenges as they have rallied within their ranks self-proclaimed experts in leadership, management and organizational performance. The literature existing documents the issues universities as organizations face in today’s complex world and attempts at pointing at various ways they can take to address those challenges. Specialists and sometimes the general public itself show an understanding of the fact that higher education evolves through its institutions, practices and processes at some paces in global contexts and at different ones in local contexts in spite of a relatively unifying public discourse used especially by decision and policy makers and some parts of the media. In other words, similar concepts may refer to very dissimilar realities making the evaluation of performance difficult and questionable. This paper looks at the way universities address the need for professional development of their leaders and/or managers at the various university levels. The focus will be on Romanian economic and business higher education institutions. The research presented here evolved from a doctoral study one the authors did in the field of leadership in Romanian higher education and from both authors’ experience in the university system in Romania and in other higher education systems they are familiar with. The authors claim and document that in Romania little is still done in terms of formalized, transparent and open access training for university leaders and administrators. The same is true for those who are interested in preparing for a career in academic management or leadership and do not have a clear road map to follow. In the complex higher education system of today professional competence is an important component that cannot be left entirely to personal development needs. Formalized and open access training in management, leadership, educational management, research management, organizational culture, strategic planning and time management skills is critical for one’s professional competence. In Romania both organizations and individuals need to understand the need to offer opportunities for professional training and the need to invest in personal development. This is how academics working or contemplating to work in administration would be empowered to plan for their organization’s performance in an open, transparent, continually and unpredictably changing world.

Open access
The enterprise risk profile - a financial and managerial health indicator - comparative study

Receivables in Insolvency Proceedings. Ovidius University Annals, Economic Sciences Series, 16(2), 554-558. Weiss, L.A. (1990). Bankruptcy resolution: Direct costs and violation of priority of claims. Journal of Financial Economics. 27(2), 285-314.

Open access