Faculty of Management

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Managementul şi asigurarea riscurilor bancare in România
(Editura Economica, 2011) Treapăt, Laurențiu Mihai
Classic risk management solutions coexist with the latest trends in the field, because they are well known from the relevant experience, as a practitioner and also as a researcher, of the author. The applicative relevance of the book is indisputable both for young people who are studying, still in university, but also for professionals at the beginning of their career, masters', doctoral students, whether it is a career in sales, in the financial area, or any other kind of company, which in one way or another are interested in the relationship between risk and corporate brand.
Manual de studii de caz şi bune practici bancare
(Tritonic, 2013) Treapăt, Laurențiu Mihai
Fixing the central parity and the evolution of the currency within the exchange rate mechanism II in the countries that joined the Euro Zone
(Faculty of Management, SNSPA, 2013-06) Anghel, Lucian Claudiu; Pînzaru, Florina; Dinu, Mihaela; Treapăt, Laurențiu Mihai
The present paper aims to briefly present the models used by the countries that joined the Euro zone after 2000, in fixing the central parity and the evolution of the local currency towards Euro, when participating in Exchange Rate Mechanism II (ERM II). In this respect, the paper intends to synthesize the main theories for determining the equilibrium exchange rate, as well as to present the modality of putting them into practice in the countries that had already become members of the Euro zone. The better we know the other countries’ experience in the respect of the joining process to the Euro zone, the better will Romania be able to prepare itself for adopting the unique European currency. Thus, we will be synthesize the main approaches within the specialized literature and also in the economic policy deciders’ practice concerning the estimation of the equilibrium exchange rate and implicitly, of the central parity. The paper presents the modality of fixing the central parity and the experience of participating in ERM II for a number of member states that joined the Euro zone after 2000: Greece, Slovakia, Slovenia, Malta, Cyprus and Estonia. For these states, we will analyze both the evolution of the currency towards Euro while participating in ERM II. Starting from these concrete examples, we will explain the advantages and the disadvantages in fixing the central parity over/at/under the value of the exchange rate on the market at the moment of joining to ERM II and we will underline the problems that might occur in the case of choosing a central parity that is not compatible with the equilibrium value of the exchange rate.
Some challenges the management confronts with, in the financial institutions
(Faculty of Management, SNSPA, 2014-02-05) Treapăt, Laurențiu Mihai; Anghel, Lucian Claudiu
In this paper, we analyze some features and components of the management in general, and of the management in the financial area in particular. Special attention is given to how they cope with some risk which could affect their activity. Trying to find from practice what kind of difficulties the management faces in their work, for sure, we get to interesting conclusions and furthermore, to optimum solutions. We already have some data, result of some earlier preoccupations of the specialists (Dănilă and Berea, 2000 pp.39-48) while others can be foreseen as specific elements for the beginning of the 3rd millennium, that started with what the rating agencies seem to admit as the most important economic decline and prolonged recession risk within the post World War II history. We consider an evaluation of the challenges the management confronts with, lately - while subject to pressures and to the need for radical changes that come with an astonishing speed and that are enhanced by the shareholders’ desperate need to protect their capital. Findings reveal that, in any business enterprise the shareholders’ strategy and the management’s objectives are earning new clients, enlarging the market share, creating added value and on these bases, maximizing the gained profits. We consider that the volatile and fluctuant nature of the raw material the banks operate with - namely the money – turn the management in this area into a particular one, depicted by some specific features, which we analyze in the following pages.
The evaluation of the equilibrium exchange rate based on the purchase power, for Romania’s case
(University of Craiova, Faculty of Economics and Business Administration, 2014-06) Anghel, Lucian Claudiu; Pînzaru, Florina; Treapăt, Laurențiu Mihai
The current paper aims to analyse one of the many models of evaluation for the equilibrum rate in an economy. It also briefly presents the main models and methods used in the specialized literature for the evaluation of the equilibrum exchange rate. The utilization of as many methods allows the deciders of monetary and economic policy to accurately ground the moment of one country adhesion to the euro zone. Also, an analysis can be made, whetehr the respective countru is ready and how fast the process of convergence to the Euro zone can devolve. In general, it is recommendable a country not to force de adhesion to the euro zone because the negative effects may occur for a long period of time, leading to a development for the respective economy under its potential.The estimated model in Romania based on data will be afterwards used for estimating the equilibrum rate and for issuing scenarios concerning its future evolution. Usually, the parity at which the national currency should be converted for an unlimited period of time, will also be around the level of the equilibrum rate. From that moment on, after attending the Exchange Rate Mechanism II (ERM II), the respective country’s economy loses an equilibrum buffer – the exchange rate. Starting from that moment, the country’s economy is supposed to be so performant that it absorbs the internal and external negative shocks, only relaying on the fiscal and budget policies. Hence, the particular importance of a correct evaluation for the equilibrum rate by using several models and methods, so that to be as close as possible to the equilibrum level on mid term.
Learning from financial practice
(Lambert Academic Publishing, 2015) Treapăt, Laurențiu Mihai; Anghel, Lucian Claudiu; Gheorghiu, Anda; Ivan, Ion
This book aims to address a wider target audience in comparison with the one that each of its component works used to address. The four works that make this book belong to several highly professional specialists in the financial field, each of them with more than 20 years of practice behind. Their papers are the result of an outstanding experience in the financial-banking field but also of their teaching and research activity until now. Consequently, these works were published in academic journals and communicated within international conferences. For this reason, the main beneficiaries of these papers were professors, researches and also students, as usual participants to these activities and events. Our wish is to share the practical experience of these specialists to an even wider public, not only to thus make it more marketable in bookshops and libraries. Source: Lambert Academic Publishing - https://www.lap-publishing.com/catalog/details/store/gb/book/978-3-659-56323-2/learning-from-financial-practice?search=Learning%20from%20Financial%20Practice
Soluții de consolidare a brandului corporativ prin managementul riscurilor
(Tritonic, 2015-10-15) Treapăt, Laurențiu Mihai
The content of the book brings to the reader a series of advantages that cannot go unnoticed. There is a balance of information resources, determined by the treatment over the 6 chapters included of the positive relationship between the correct management of risks in corporations and the quality of the brand. The conclusion argues that a skilful risk management in a company induces a positive driving effect on its brand.
A five-dimension framework for international business relationships : the B2B approach
(International Business Information Management Association, IBIMA, 2016-09) Vătămănescu, Elena Mădălina; Alexandru, Vlad Andrei; Treapăt, Laurențiu Mihai
The current paper proposes an alternative overview on the formation and development of international business relationships in a business-to-business (B2B) industrial sector. 107 Romanian managers from small and medium-sized enterprises (SMEs) participated in a questionnaire-based survey regarding their approaches and conducts when going international with a view to become more competitive and present on the global market. Five dimensions of international business relationships are mainly discussed, that is competitiveness, commonality, compatibility, credibility and connectivity. The findings of the study indicate that all the five elements stand for catalysts, enhancing the establishment and development of solid and sustainable business partnerships if shared by all the involved parties.
Management measures for a multivalent risk administration in the top Romanian bank
(Vilnius University, 2016-10-30) Treapăt, Laurențiu Mihai
The lethargy that laid over the economy in the years of crisis was also reflected in the banking system, where the non-performance loans punctually even exceeded the level of 25%. Although the macroeconomic situation got better in present, the lending activity had a low sensitivity, remaining in the negative area between 2014 and 2015 as well. Due to this, the weight of the net banking assets within the GDP decreased, reaching the level this indicator had in 2007, this way the banking system turning back in time, to the level before Romania's adhesion to the European Union.
Artificial systems and models for risk covering operations
(EduSoft Publishing, 2017-09-11) Treapăt, Laurențiu Mihai; Gheorghiu, Anda
Mainly, this paper focuses on the roles of artificial intelligence based systems and especially on risk-covering operations. In this context, the paper comes with theoretical explanations on real-life based examples and applications. From a general perspective, the paper enriches its value with a wide discussion on the related subject. The paper aims to revise the volatilities’ estimation models and the correlations between the various time series and also by presenting the Risk Metrics methodology, as explained is a case study. The advantages that the VaR estimation offers, consist of its ability to quantitatively and numerically express the risk level of a portfolio, at a certain moment in time and also the risk of on open position (in titles, in FX, commodities or granted loans), belonging to an economic agent or even individual; hence, its role in a more efficient capital allocation, in the assumed risk delimitation, and also as a performance measurement instrument. In this paper and the study case that completes our work, we aim to prove how we can prevent considerable losses and even bankruptcies if VaR is known and applied accordingly. For this reason, the universities in Romania should include or increase their curricula with the study of the VaR model as an artificial intelligence tool. The simplicity of the presented case study, most probably, is the strongest argument of the current work because it can be understood also by the readers that are not necessarily very experienced in the risk management field.
A synthesis of the sharing economy in Romania and Russia
(Springer International Publishing, 2018) Treapăt, Laurențiu Mihai; Gheorghiu, Anda; Ochkovskaya, Marina
Ten years ago, renting a flat from a stranger instead of a room in a hotel might have been considered very unusual in some countries and, of course, not an ideal way to spend holidays. However, times have changed all over the world, and now there are a multitude of online services that offer alternatives to traditional hosting. The products and services of the sharing economy have begun to change lifestyles. The sharing economy, often called the collaborative economy or collaborative consumption, is a new form of business that is growing rapidly. This type of economy presents a challenge, mainly for producers, since, instead of producing new products, the system revolves around the exchange of goods and services that already exist. To better understand the sharing economy, it is beneficial to explore examples of how this economy works in different countries. In this paper, we concentrate our research efforts on Romania and Russia-countries that both experienced communism and are now developing their own market systems. The objective of the paper is to investigate the specifics of the sharing economy and single out successful examples in Romania and Russia. The paper begins by explaining the novelty and importance of the subject. It then depicts the sharing economy in Romania and Russia and specifies the research methodology. Finally, it reports results and findings from the presented case studies.
Riscul și brandurile corporative-sinteze și studii de caz pentru studenți
(Tritonic, 2018) Treapăt, Laurențiu Mihai
"I have followed with interest and satisfaction the progress and results of the author's research on the banking system and the economy in general since the period when he was working at ASE Bucharest. The database is impressive in its complexity and relevance. He started his research in 2000 and has continued it throughout the economic and post-crisis period, the results of which have been valorised in 3 books for the benefit of risk management specialists and students. This book continues, updates, adds to and completes with the author's practical and research experience a work that began many years ago. It proves very valuable for students of economics, management, business and administration precisely because of the continuity of the research and the essence of the results, which, for those who know the author, are at the level expected from an expert in the financial-banking phenomenon." Professor Dr Anca Gabriela ILIE Academy of Economic Studies Bucharest
Romanian capital market : on the road toward an emergent market status
(Tritonic / Faculty of Management, SNSPA, 2018-10-11) Mihalcea, Alina Daniela; Anghel, Lucian Claudiu
Capital markets have become one of the drivers of economy growth in frontier and emerging economies and Romanian case is no exception. Bucharest Stock Exchange is the second capital market in Central and Eastern Europe by the number of IPO successfully concluded in 2017 and is the sixth in terms of the largest return among world capital markets. In recent years, Romania’s capital market has made significant efforts in order to upgrade to the emergent market status in terms of development of market infrastructure, increasing the accessibility and attractiveness of the Romanian capital market through listing of public and private IPO’s. Our research is focused on a quantitative approach – content analysis, by taking into consideration the ratings of FTSE Russell and MSCI considering Romania’s country classification. The results of our study indicate that despite the positive changes, Romania’s rating as a frontier market implies a set of challenges that Romania must face in order to become an emergent capital market: free and well-developed equity market- market accessibility and facilities for international investors and liquidity. A very important criterion for Romania to achieve the emergent capital market status is represented by listing new public (such as Hidroelectrica and the National Company Bucharest Airports) & private IPO. The evolution of BET and BET–TR as compared with the evolution of CDS over 2007-2017 shows that BVB is very sensitive to the country risk, which also influences foreign capital investments.
Romanian SMEs internationalization in the light of internal capabilities and external conditions : a secondary data analysis
(Faculty of Management (SNSPA) & Sciendo, 2019) Mitan, Andreea; Vătămănescu, Elena Mădălina
The topic of small and medium-sized enterprises (SMEs) within the framework of the internationalization phenomena has often hewed the paths for many conceptual and empirical analyses all the more so as the global environment has pushed smaller actors out of their regular habitat. Issues such as the support of SMEs innovative capabilities, of knowledge sharing mechanisms and collaborative networks via cross-border operations or as the thorough adjustment to the new market conditions have sprung as pivotal concerns for both academics and practitioners interested in business development, performance, innovation and effectiveness from a myriad of perspectives. Giving credit to these research and real-life priorities, the current paper aims to discuss different facets of the SMEs internationalization process, laying emphasis on their internal capabilities and external conditions. The empirical undertaking relies on a secondary data analysis which covers the facts and figures comprised by European official reports. The focus is on the Romanian SMEs internationalization variables which are descriptive of the current state of cross-border dynamics. The findings advance that Romanian entrepreneurs and SMEs have been supported in the recent years by a series of European and national governmental initiatives, yet many additional measures and facilitation instruments are needed to properly improve their overall performance on international markets.
Sustainable knowledge management and its impact on the performances of biotechnology organizations
(MDPI, 2019-01-11) Zbuchea, Alexandra; Pînzaru, Florina; Busu, Mihail; Stan, Sergiu Octavian; Bârgăoanu, Alina
Starting from the findings of specialized studies on knowledge management in the field of biotechnology, this paper aims to present the factors that underline sustainable performances of Romanian biotechnology organizations. Particularly, descriptive analysis of these factors has outlined a picture of the current situation of biotechnology in Romania. The design of an exploratory knowledge management model for organizations in the biotechnology sector was achieved and validated through a panel data model. Starting from a model of growth based on productivity, capital inflow, and human capital, three statistical hypotheses were validated by a time series data panel regression model using EViews 9.0 software. The data were collected for the enterprises active in the field of biotechnology for a period of nine years. The paper highlights the fact that the economic performance of biotechnology organizations is determined by the flow of capital, productivity, and the workforce. Knowledge-based growth strategies are essential in the econometric model presented. Nevertheless, in terms of knowledge management strategies, the sector has not reached its maturity, and full sustainability is not a norm.
Like me : generation Z and the use of social media for personal branding
(Faculty of Management, SNSPA, 2019-06-28) Vițelar, Alexandra
Building a personal brand in this modern age, where technology and social platforms redefine the way individuals interact, has become a necessity, especially for the young generation Z which are increasingly involved in the online medium. A personal brand conveys an individual’s identity and distinctiveness and it has become an important tool for young individuals that enables them to achieve success regardless of their status: they can be young professionals in search for a job, public speakers, bloggers, managers or entrepreneurs. In this context, this paper focuses on Generation Z and the importance of building a personal brand in the age of social media. Taking into consideration the recent development of personal branding tools and social media platforms, such as Facebook, Instagram or LinkedIn, the aim of this paper is to investigate the degree in which young individuals, belonging to Gen Z, understand the benefits of social media personal branding in order to create a strong online identity to help them at the start of their career. It is specifically interesting to discover how Gen Z individuals appreciate the efficiency of personal branding through social media outlets, considering that they belong to a generation known for being digital and tech-savvy, more so than their predecessors.
Analysis of the evolution of meeting requirements imposed by MSCI for the major companies listed on Bucharest Stock Exchange
(Tritonic / Faculty of Management, SNSPA, 2019-10-10) Fleanță, Simona Maria; Anghel, Lucian Claudiu
This paper is an analysis of the evolution of the Romanian candidate companies, based on the Morgan Stanley International Index (MSCI) criteria. The paper will offer a technical analysis on the evolution of Annual Traded Value Ratio (ATVR 12M) levels, Market Capitalization and Free Float Market Capitalization, (Mcap FF), of the Banca Transilvania, OMV Petrom, BRD Group Societe Generale, and Romgaz, companies that in 2017 were the main Romanian candidates to meet MSCI criteria. The paper will take into consideration data from January to December 2018. Based on the updated evolution, the paper is revealing what are the challenges and opportunities that are likely to influence the important Romanian companies’ economic evolution, as well as what measures could be taken to enhance the companies’ evolution and eventually lead them to reaching the minimum ATVR and Market Free Float Capitalization requirements imposed by MSCI. In 2018 a study was made analyzing these companies and the paper addressed the chances of the Romanian Capital Market to be upgraded to Emerging Market status. The study showed that increasing liquidity is the most difficult factor to be achieved by Romanian companies listed on the Bucharest Stock Exchange. Romania has the potential to be upgraded to the Emerging Market status if at least three companies met the minimum requirements, including the Annual Traded Value Ratio, requested by the MSCI. Following a technical analysis using the MSCI methodology, it was found that until the first part of 2018 three companies met the ATVR target of at least 15%, such as Romgaz, Banca Transilvania, BRD Group Societe Generale. OMV-Petrom reached only 12.62%. The company needed an increase in the total volume of the total stock market to bring the ATVR level to at least 15%. As for recommendations, BRD Group Societe Generale needed to increase the Free Float market capitalization by 1.0534% that should reach the minimum required by MSCI USD, 763 mln until mid-2018. Another recommendation, by increasing offer by listing more companies on the Bucharest Stock Exchange and increasing demand by attracting as many retail investors as possible and improving financial literacy, trade volumes would consistently grow. Data was collected from the Bucharest Stock Exchange, Trading Statistics section, and daily reports. This was computed the Annual Traded Value Ratios for 12 months (ATVR 12M) and ATVR for 3 months (ATVR 3M) for each company. The candidate companies included Romgaz, OMV-Petrom, Banca Transilvania, and BRD-Group Societe Generale. The methodology used is in accordance with the MSCI standard calculations.
Roundtable report. Social economy coping with the COVID-19 crisis
(Faculty of Management - SNSPA, 2020) Zbuchea, Alexandra; Barna, Cristina
This report presents an overview of the discussions of the Round Table on Social Economy and the COVID-19 crisis organized on October 16, 2020, by the Center for the Research of Socially Responsible Organizations from the Faculty of Management – National University of Political Studies and Public Administration, Bucharest, Romania, as part of the annual Strategica International Conference. The Round Table had eight panelists, representatives of the academia, research institutes, and social economy organizations from Greece, Poland, and Romania (Bucharest, Galați, Baia Mare, and Timișoara). The main question addressed during the round table was: “What would be the long-term impact of the COVID-19 crisis on the social economy?” But also questions, like “Is COVID-19 crisis an opportunity to scale –up the social economy business models?” or “Has the social economy the potential to bring systemic change in the post-COVID-19 economy and society?”, were explored by the panelists in their debates.Two case studies of social services providers were presented: the Heart of a Child Foundation (Romania, Galați) and the Humanitarian Association Together for Them (Romania, Baia Mare). The representatives of the two organizations presented the impact of the COVID-19 crisis on their organizations and beneficiaries and explained the main coping strategies and results. The impact of the COVID-19 crisis on the social services providers but also other types of social economy organizations (e.g., WISEs, cooperatives) was also analyzed by the academics & researchers. Interesting perspectives from Greece and Poland added an international dimension to the Round Table. The new financial resources mechanism designed at the EU level was seen as an opportunity. However, the skepticism on including the social enterprises and the social economy organizations in the supporting schemes (at least in Romania) has been a central point in the discussions. We invite the readers to explore in detail this report, which outlines the main findings of the debates following three dimensions: personal dimension, organizational dimension, and a systemic dimension. During this COVID-19 crisis faced by all of us, the social economy has proved resilience and adaptation. Let us do not forget that the social economy was resilient in economic downturns following the Global Financial Crisis in 2008, too. Therefore, now it is time to make the cause visible to decision-makers for adequate financial and legal support!
Management and leadership in an interconnected world
(Tritonic, 2020) Pînzaru, Florina; Zbuchea, Alexandra; Vițelar, Alexandra; Ciuciuc, Victor Emanuel
The exploratory four essays proposed in this book investigate a series of aspects of interest for any current or future manager: the current global drivers of change; the imperative of the digital transformation and its impact on management; the issues of ethics and sustainability in a global race for efficiency; the new leadership that is needed and how to educate future managers. The book should be considered an invitation to reflection and to action, as well as an introduction to future discussions.
Global competencies for higher education graduates : priorities and opportunities for the labour market
(IATED Publications, 2020) Butum, Lavinia Cornelia; Nicolescu, Luminița; Stan, Sergiu Octavian; Găitănaru, Andrei
Internationalization of Higher Education (HE) has direct implications on adapting the curricula and providing the skills and abilities needed by graduates on the labour market. In this regard, in recent years, universities and researchers have undertaken studies in order to identify the skills that their graduates need in order to be competitive on the labour market. Literature recognizes a range of skills and abilities that are gathered under the term of global competences and are needed by the young graduates both in the recruitment process and in their future career. Also, studies have shown that the graduates with high skills and abilities have mobility on the labor market and are able to work in a variety of cultural contexts. Thus, for universities, it is of interest to identify which are the global competences needed by their students. This paper will present an analysis of students’ demand for global competences in the fields of economy and social sciences. To this end, we selected 140 students from the Bucharest University of Economic Studies - Faculty of International Business and Economics and 170 students from the National University of Political Sciences and Public Administration - Faculty of Communication and Public Relations, and we administered an online survey regarding the global competences that students believe are valuable for their future workplace and in the recruitment process.

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