FAP - Economics, Business & Business Finance

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Adjusting the 5C pentagon for better health policymaking: observing the leading behavioural risks factors (diet, smoking, and alcohol consumption)
(General Association of the Economists in Romania (AGER), 2023) Bițoiu, Teodora; Nicolescu, Cristina Elena
Smoking, alcohol consumption, and dietary risks pertain to the goods that can destabilisethe market should their production trigger too many negative externalities and not enough researchto counterbalance them. Moreover, all three are among the factors that, connected to ever-presentrisky behaviours, drive the most death and disability combined (the other two risk factors being themetabolic ones and the environmental/occupational risks). Therefore, they are to be considered as relevant to both the perceived health of the population and analysed in relation to the data onsmokers, alcohol consumers, and poor diet impact.However, the design of these health policies must be adapted to the pattern of national culture of Romania, increasing the degree of their acceptance by the population. This is particularly true whenless-damage alternatives are present in the market. Policymakers should incentivize their use overmore-damaging products. In fact, the existence of better alternatives deepens the market failure thata sub-optimal allocation of resources produces when consumers opt for more damaging productsover better goods. Clearly, the objective of policymakers ought to be to differentiate based on therisk profile of the products present on the market.
Assessment of Public Administration Integrity Level: Between Morality and the Law
(National University of Political Studies and Public Administration, 2017) Popa, Florin Marius
In recent years, the academic and research institutions, international organizations (among which the International Monetary Fund, World Bank) have an increased interest for estimating the integrity, public administration reform and to gauge the impact of this reform on the level of economic development. From a marginal part in international aid programs, the integrity has grown to occupy a privileged position in most development programs. Currently, it is considered a key factor in good governance of a country with vast implications and whose development must be prevented. The large number of managerial incidents led to a growing interest in ethical programs within organizations. ""Respect"" and ""integrity"" are two alternative management strategies that are formulated in order to avoid moral deviations from organizations. Compliance and integrity differ regarding how the moral behavior of members of an organization can and should be achieved. The strategy focuses on explaining under a set of rules. The main objective of this paper is to analyze how the integrity within public organizations became an organizational value and not only a legal value.
Capitalul social - demers strategic pentru o guvernanță locală viabilă?
(Revista Transilvană de Ştiinţe Administrative, 2011) Popescu, Luminița Gabriela
In this study the author explores the relationships between governmental public policies and social capital, with a focus on the case of Romania. The development of social capital as well as the development of links between social capital and civil society represents a strategic endeavor focused on overcoming the challenges local governance faces. From a theoretical standpoint, it can be argued that public institutions and public policies influence the formation of social capital, by means of developing mechanisms for stimulating the participation of the members of the sociaty in public affairs. From a pragmatic standpoint, it is very likely to have errors that will limit/stop the formation process of social capital. This study strives to prove that the viability of governance is ensured through: (1) a clear understanding of the role of the state, civil society, and the market; (2) a new institutional design and the existence of well established social capital; and (3) political will. The conclusion of the study, based on empirical data, is that for now social capital does not represent a support for governance. Even more, we believe that the current situation leads to the consolidation of authoritarianism and rigid bureaucratic structures.
Clusters as engines of sustainable employment growth in Romania1
(Sustainable Regional Development Scientific Journal, 2024) Lincaru, Cristina; Tudose, Gabriela; Cosnita, Daniel; Pirciog, Speranta; Grigorescu, Adriana; Ciuca, Vasilica
The imperative for sustainable growth has elevated clusters as pivotal tools for economic and social inclusion, fostering job creation, equitable income distribution, and regional competitiveness. A cluster comprises interrelated companies and institutionsin close geographical proximity, establishing expertise and a robust network of suppliers and skills. Clusters enhance productivity and catalyze development by concentrating enterprises and labor within a unified framework, surpassing isolated firms in regional impact. This study aims to examine whether clusters act as accelerators of employment growth over time and space. Using Simple Linear Regression (SLR) to analyze data from the Romanian Association of Clusters (CLUSTERO) and the National Institute of Statistics (Tempo INS) for 2013, 2015, 2019, and 2022, we investigate the research question: Do firms within clusters, as defined by European Policy criteria, contribute to accelerating employment creation? Specifically, we assess whether the ratio of employment in clustered firms relative to total employment shows a positive trend over time. Findings reveal that clusters contribute significantly to employment growth, validating their function as a strategic asset in enhancing workforce specialization, economic development, and regional resilience. Policy recommendations underscore the need for inclusive growth strategies that incorporate sustainability to maximize cluster impact on social and economic objectives.
Competitiveness and sustainable development in public services
(Sciendo, 2019-03) Grigorescu, Adriana; Lincaru, Cristina; Pîrciog, Speranța; Chițescu, Răzvan Ion
The last years were of profound transformation in public services that knows more or less the challenge from the private sector. A second dimension of competitiveness for the public services staring from 2007 was the free access of the citizens to at least education and health services in European Union. The paper aims to show the evolution of the cohabitation of the public and private sectors on the services of public interest, their development and evolution in different regions. Identifying and highlighting the key issues in competitiveness and quality of the services provided, will give us the main lines for the further development and public policies that should be considered. Considering the cohesion policy of European Union, an analysis of the public and private sectors in public services in Romanian counties could drive us to a conclusion about the affordability and the quality of the services. Using the statistics it can be show the regional distribution of the service providers especially for education, health, water supply and other services. The integrated analysis we offer a global picture of the regional potential and development. Based on the findings the public decision makers could better set up the sectorial public policies and the public spending. Never the less, the European support could be also directed to increase the quality and efficiency of the public services.
Conflict of Interest and Integrity in Public Administration in CEE Countries. Comparative Anaysis
(Alexandru Ioan Cuza University of Iași, 2013) Popa, Florin Marius
Corruption is a threat to democracy, to the law’s supremacy, to social equity and justice, it erodes the principles of efficient administration, undermines the market economy and endanger the stability of state institutions. Research on corruption has particularly focused on the classification of its various forms in order to operationalize the concept of analytical judgment and practical reasoning. In this context, conflict of interest represent one of the main form of manifestation of corruption in public administration.
Demographic Dependency and the Future of the European Workforce: A Spatial–Temporal Forecasting Approach
(MDPI, 2026-05-01) Lincaru, Cristina; Grigorescu Adriana; Pirciog Camelia Speranta; Tudose Gabriela
This research paper examines the spatial and time variation of demographic dependency in Europe in a 30-year horizon of the evolution of the demographic dividend regarding the economic dependency ratio (ADR1). We used the Curve Fit Forecast tool to estimate the trends of ADR1 in each of the EU Member States using data on Eurostat projections and a sophisticated geostatistical analysis tool developed in ArcGIS Pro 3.2.2. The findings indicate that the dependency in all countries has increased significantly in a statistically significant manner as the Gompertz function has appeared as the best curve in a third of the cases. It is an S-shaped asymptotic behaviour of this function that effectively describes the nonlinear patterns of acceleration and saturation of demographic ageing. As indicated in the analysis, the European regions are increasingly moving apart, with the southern and eastern nations such as Romania demonstrating the most alarming decline in ADR1. These trends highlight the need to reform labour market policies and social protection mechanisms to an ageing population. The paper combines the curve-fitting, descriptive statistics (median, skewness, interquartile range (IQR)) with time clustering (value, correlation, and Fourier) to provide an effective, replicable approach to early warning and policy prioritisation. Overall, the results highlight the importance of integrating predictive spatial modelling and demographic economics to support anticipatory and evidence-based policy decisions. The proposed approach proves to be a robust and transferable framework, applicable to a wide range of socio-economic phenomena characterised by inertia and structural change. Future research should extend the analysis to subnational levels, incorporate additional explanatory variables, and develop scenario-based simulations, including multivariate Gompertz-type models, to further enhance both predictive accuracy and policy relevance in the context of emerging structural labour scarcity.
Do Investors Overreact to COVID-19 Outbreak? An Experimental Study Using Sequential Disclosures
(University of Finance and Management in Warsaw, Faculty of Management and Finance, Warsaw, 2023-03-31) Sulistiawan, Dedhy; Feliana, Yie Ke; Rudiawarni, Felizia Arni; Grigorescu, Adriana
This paper aims to investigate market participants' reactions to sequential information, presenting firm-specific news and market-wide information. Experimental study takes place in the COVID-19 pandemic era, as market-wide information representation. We also provide firm-specific information in the form of company fundamental information. The results show that participants, as representatives of retail investors, do not overreact to COVID-19. The recency effect dominates their decision-making. Neither firm-specific information nor market-wide information can eliminate the recency effect in decision making. Investors still provide valuations based on the latest information they receive. Another interesting finding in this study is that positive framing of information cannot mitigate the effects of bad news contained therein. Our findings contribute to the study of behavioral finance and corporate disclosure strategies. From the market participants' point of view, our results describe that investors' decisions are often not based on the information content but the latest information they received. From the company perspective, this research also contributes to the corporate disclosure strategy valued by investors based on how they disclose information to the public.
Does technological progress promote or prevent trade conflict? Evidence from China
(Vilnius Gediminas Technical University, 2024) Zhao, Q.; Su, C.-W.; Dumitrescu Peculea, A.
Using the bootstrap rolling-window subsample Granger causality test from China, this study analyses the influence of technological progress (TP) on trade conflict (TC). The results show that TP can both promote and prevent TC. In 2012 and 2018, TP led to more trade conflicts between China and its trading partners. This result proves the “trade-loss effect”, suggesting that TP in one country promotes TC by threatening other countries’ income. However, TP had a negative influence on TC in 2021 and 2022. This finding is consistent with the “welfare effect”, implying that TP can prevent TC by providing more high-quality and cheaper products for worldwide consumers. This study suggests that the government should adopt appropriate trade policies when encouraging TP to promote bilateral trade. Furthermore, firms should develop their own high-quality irreplaceable products through technological innovation to address TC risk.
Educational barriers for disadvantaged groups in entrepreneurship
(Elsevier, 2016) Grigorescu, Adriana
Entrepreneurship on the small and medium size is considered to be the 'economy engine', at the same time it represents a reservoir of jobs. Self employment through an entrepreneurial initiative for micro business could be a way of subsistence income generation. There are plenty of educational programs focused on entrepreneurial skills, but they are mainly focused on the educated segment of potential entrepreneurs to teach them how to start a business. Specific ones are addressed to youth to access programs that are financing start-ups for bachelor degree graduates. There are also disadvantaged groups, as women, Romany, migrating, refugees, persons over 50, unemployed in rural areas, persons with disabilities that are interested in finding a source of income by starting their own business, but they are facing with limited knowledge, less self-confidence, lack of fund and not supportive attitude of the environment. The ELIEMENTAL Braking Down Barriers for Enterprise Project aims to high light the barriers of the disadvantages groups from 4 countries (Greece, Poland, Romania, UK) in staring a micro business and designing a training program. Knowing the barriers, that are considered by the studied group to be most important issue that are keeping them away, give us the opportunity to act on and to design tools for overcoming. After analyzing the results of a survey on the barriers and need of the targeted groups, it was designed a training program with two components: a training course and a mentoring to be tested on the target groups. The results of the testing process were partially unexpected from the evaluation point of view of the skills improvement. It was offered a different approach angle and new issues of concern on the training process design. The paper is presenting the results of the training and the discussions about the mentoring process.
Emerging trends and drivers for knowledge-intensive economy
(Sciendo, 2020-06) Grigorescu, Adriana; Zamfir, Ana Maria; Mocanu, Cristina
Innovation and knowledge-intensive economy are considered crucial for addressing challenges and opportunities currently faced by Europe. The present paper aims to provide inputs for building a long-term vision aiming to promote innovation and knowledge economy for fostering smart, sustainable and inclusive growth. We analyze microdata from the 2016 Innobarometer "EU Business Innovation Trends" (Flash Eurobarometer 433), covering 14,112 companies from 30 countries in order to shed light on main drivers and results of business investments in innovation. We focus our analysis on high-tech industries and knowledge-intensive services. Additionally, expected positive impacts of innovation in knowledge-intensive sectors are explored in terms of job creation, digital economy, environment protection, health, transport, food quantity and quality, development of smart cities, etc. Our results are useful for designing an improved support for the emergence and impact of knowledge-intensive economy.
Energy imports in turbulent eras: Evidence from China
(Elsevier, 2024) Su, Chi-Wei; Yang, Shengyao; Peculea, Adelina Dumitrescu; Biţoiu, Teodora Ioana; Qin, Meng
The turbulent world situation is an urgent crisis in energy trade and may exacerbate regional energy tensions. This paper measures the links between geopolitical risks (GPR), economic policy uncertainties (EPU) and energy import (EI) from 2005:M3 to 2023:M3. We use the Wavelet-Based quantile-on-quantile (QQ) approach based on China's import statistics for the first time. The results show that both GPR and EPU are important factors affecting EI. We confirm the negative impact of GPR and EPU on EI in the short term, while EI tends to recover in the long run. The result is consistent with the theoretical mechanism that reflects the interrelationship between external uncertainties and EI. As a result, the government should advance diversified energy access options, timely adjustment of energy policies to respond to crises, increase energy reserves and actively undertake energy innovation to reduce external energy dependence.
Exploratory study of the companies' economic performance using a social customer relationship management
(Elsevier, 2016) Nițu, Valentin Claudiu; Nițu, Oana; Grigorescu, Adriana; Codrea, Elena
He epistemological positioning of scientific approach involves the diversity of the viewpoints of academics and specialists, exclusiveness not being considered. This paper aims to reflect own contributions to the development of management theory and management practice in Romania. First of all, the proposed scientific approach is a positivist approach, because it envisages the interposition of own reflections, an observation of what is happening in the market, an authentic presentation as it is. The main objective of this scientific research is to highlight the importance of social media as a mean of business development by creating new opportunities through promotion and a better brand visibility in the market. In the literature we have outlined a number of methods to assess the way in which companies approach the CRM: call method, the interview, the questionnaire, etc. Quantitative investigation of this paper was conducted based on assessment questionnaire, addressed to the employees of some Romanian companies. The qualitative investigation was conducted at the end of the research, based on analysis and structuring the information obtained. In this paper there were analyzed three elements: management position with the implementation of a CRM system; CRM to SCRM transition and the use of the new SM technologies in the implementation of a CRM system; applying of a SCRM system using social media platforms. As a result of the conducted study it was found that the media is one of the main trainers of public opinion, if not the main, controlling the public sphere. It conveys information, but also it controls and steers the public opinion. Thus, SM can form quickly enough media crisis to lower the public favorability for certain companies or politicians. In this way, by resorting to specific Social Media tools, the companies can obtain crucial information for evaluating the consumer satisfaction, information that would be more difficult to obtain traditionally.
Financial-Economic Indicators - Vectors of Budgetary Performance. Case Study Romania
(Elsevier, 2016) Dumitrescu-Peculea, Adelina; Sopu (Mișa), Monica Roxana
The actions taken in order to make public administration more efficient within the last few years have been concentrated on optimizing the internal processes within public institutions. In doing so, an emphasis was placed upon the method in which public financial resources are utilized. The accumulated experience in theory as well as in practice has shown however, that optimizing the processes of planning financial resources is just as important. As a result, the emphasis can be placed on the efficiency of budgetary processes. To evaluate the budgetary performance a series of financial-economic indicators can be used in order to quantify the method in which financial resources are used, as well as producing a plan for their application. The use of statistical analysis and the evaluation of official data which is offered by public institutions, on the basis of which financial-economic indicators are calculated manages to distinguish this paper from others. The conclusions of this study focuses on the expressivity and usefulness of these indicators.
Green Jobs in Europe: Contemporary Developments and Future Outlook
(Futurity of Social Science, 2026-05-08) Grigorescu, Adriana; Lungu Diana-Cristina
The rise of green jobs has become a pivotal component of Europe’s transition to a sustainable, low-carbon economy. As the demand for environmentally sustainable practices grows, green employment represents a significant opportunity for economic growth, job creation, and social equity. This paper explores the role of green jobs in the European labour market, focusing on contemporary developments and future trends. It examines the European-level policies and strategies that promote the growth of green employment, including government frameworks, private-sector involvement, and the role of green human resource management. The article also assesses the emerging sectors driving the demand for green jobs and the growing need for green skills across industries. Additionally, the paper addresses the challenges and research gaps in green job policies, including their impacts on social inclusivity, regional disparities, and long-term economic effects. As green jobs become increasingly central to Europe’s sustainability goals, understanding these dynamics is critical for shaping effective policies and strategies. The article concludes by emphasising the need for continued research at the intersection of green employment, sustainability, and labour market policies to ensure long-term socio-economic development and prepare the workforce for future challenges.
Implementation of public policies. The compatibility of the model of public policy with the target space of the policy
(2020) Popescu, Luminița Gabriela
New realities bring to the fore a series of challenges referring to the implementation of public policies. One of the major challenges is caused by the lack of compatibility between the chosen model for the elaboration of policy, on the one hand, and the target public space, on the other. That could mean that either the technical solutions formulated by the researchers, to be applied to the target space are totally unrealistic, or in the target space there are zones of confusion, of instability, of unpredictability, where the model chosen by the policy-makers cannot be applied. The degree of difficulty is so much more difficult as the members of the community and society, in general, are preoccupied, predominantly, with the problems that appear in the target public space, while almost not at all interested in the technical problems faced by the policy-makers. Despite this lack of interest, anyway, the problems that the community/society faces cannot be solved but by the implementation of their initiatives and models proposed by the policy-makers. The success of a policy is, in our opinion, firstly, a matter of compatibility between the model of the public policy proposed and the target public space characterised by a high degree of inertia and tendencies manifest in maintaining the status quo. How could there be reached the compatibility between a public policy, whose vision is based on the behavioural change of the institutions(1), organisations and people, on the one hand, and the unreformed public space, aligned to the exigencies much exceeded by reality, on the other? Which are the approaches necessary to a compatibility between the models of the policies and the target space? What strategies must be chosen? How must the efforts and resources in the public space be graduated and oriented to become compatible with the model chosen by the policy makers? These are questions which we will try to answer in this article.
Innovation and product management - The direction of the 21st century luxury market
(Sciendo, 2020-07) Grigorescu, Adriana; Ion, Amalia Elena
Today, most of the so-called luxury streets are covered with advertisements and stores of the mass fashion brands. On Champs Elysees, next to Louis Vuitton and Cartier are brands like Zara and Naf-Naf. The implication of such a picture triggers much needed changes in the general strategy of the luxury brands in product management and innovation management. Constructing their whole core marketing and branding strategy on appealing to human emotions and psychology, the luxury market focuses on symbolism, rarity, extraordinariness, and, of course, aesthetics. Nevertheless, trying to opt out for the same textbook management is not an option for these businesses. Stepping up the pace in the innovation sector, starting with technology, and going all the way to the rapidly evolving consumer profile, the 21st century luxury market can truly support a long history by giving back to the community, with strong brand equity and long-term strategic and financial business innovation and product management. The paper represents a theoretical research aiming at identifying the main strategic direction of the luxury market in terms scientifically proved innovation and product management, with the scope of understanding the new trends in management, and the impact of the latter on bettering the market results of the businesses involved under the form of a model. The results of the research are consistent for both the practical and theoretical sphere of the subject, as they underline the extent to which the influence of consumer psychology and brand management affects the innovation process within the luxury goods market. The limitations of the paper are consistent with the lack of primary data, although the results were condensed in a model that could represent the basis for further research on the topic.
Key drivers and skills need for innovative companies focused on sustainability
(Sciendo, 2019-05) Grigorescu, Adriana; Maer Matei, Monica Mihaela; Mocanu, Cristina; Zamfir, Ana Maria
Innovation is essential for European competitiveness and provides key inputs for developing business models that are conducive for a more sustainable economy. Recent evidences show that businesses have increased the management attention and investments they're dedicating to sustainability. This paper aims to identify the most important drivers supporting companies to develop innovation activities oriented towards making the business models more sustainable. We explore microdata from the 2016 Innobarometer "EU Business Innovation Trends" (Flash Eurobarometer 433), covering 14,112 companies from 30 countries. Using statistical classification methods, we identify the most important factors that are related to innovation activities that have potential to shape the efficiency of raw materials usage and the environmental protection. Special focus is given to companies' investments in training, software development, research and development, company branding, design of products and services, organization or business process improvements and acquisition of machines, equipment, software or licenses. Also, our analysis highlights the skills that are needed the most by companies in order to support their innovation activities targeting sustainability. Our results are useful for better understanding the attention that is given to sustainability by innovative companies and which are the main factors that boost innovation dedicated to sustainability.
Low-Low (LL) high human capital clusters in public administration employment - predictor for digital infrastructure public investment priority - Romania case study
(Enterpreneurship & Sustainability Center, 2018-12-30) Lincaru, Cristina; Pîrciog, Speranța; Grigorescu, Adriana; Tudose, Gabriela
Disruptive innovations generated by digital technologies push the public services to digital transformation in order to become not only a problems solver for community, but a real social, economic and environmental development engine. With all significant progress, the use of e-Government services in Romania remains the lowest in the EU; high quality services are not available in a significant part of rural areas. The paper highlighted the spatial heterogeneities of the broadband infrastructure at level of NUTS - 5 expansion correlated to Low-Low (LL) high human capital clusters in public administration and marginalized rural areas. Using data from World Bank studies, provided in the ArcGis Cloud, from Romanian broadband investment prioritization and micro data provided by INS census, we developed a spatial cluster analysis by the means of ESDA method. In public administration the high human capital is clustered in a few innovative hubs which in the absence of a functional and interconnected national administration IT system makes difficult the public administration modernization, especially in the context of regional decentralization. At the county level is visible the pattern of center periphery, where the center is usually the county residence and the LL clusters are the frontier of the counties. Usually, at this frontier are located marginalized rural areas where are provided poor public services. As a recommendation, the future e-government development must be spatial harmonized with the high human capital in order to assure a valuable public service, everywhere, whether it is the smallest village or a big city, to reconnect the public to the state and the state to the public in an inclusive and intelligent manner.
Mapping post crises the European job growth in travel agencies and tour operator reservation services
(Routledge Journals, Taylor & Francis , 2021-01-01) Grigorescu, Adriana; Lincaru, Cristina; Pîrciog, Speranța; Chițescu, Răzvan Ion
World Tourism Organisation, declares the Tour Operators as tourism engine of strategically importance to support jobs and inclusive growth in all regions. Tour operators emerges following the 2008 crises, as a global job engine. Its atypical profile of highest human capital concentrator in tourism, attract and retain talents, works digital with a high-intensity information use. Is a rapid adopter of technological innovation, generate high value added in highly competitive global markets. We look in this paper to understand why employment is growing or declining in a regional tourism tour operator sector during 2008-2018, in some EU28 regions? We use Exploratory Spatial Data Analysis to map the indicator 'tour operator's employment growth' components decomposed by the Shift Share Analysis Method. Analysed Eurostat data for 266 regions (281 regions) indicates that for the average regional tour operators employment growth heterogeneity is driven almost at half by region-specific factors. The main contributions are: identifying this indicator as appropriate to be a core one in OECD (2013) tourism competitiveness framework & redefine tour operator sector as a core sector of tourism in the Global model of tourism of Harrison.

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