Ovidius University Annals Economic Sciences Series, Aug 31, 2022
Fluctuations in the price of oil have increased the cost of production all over the world, puttin... more Fluctuations in the price of oil have increased the cost of production all over the world, putting several industries in difficulty. One of the most important pillars of economy is agriculture, due to its crucial role and ability to grow food and sustain life. The purpose of this article is to observe the influence of the price of oil on the level of agricultural production in Romania. Using the Least Squares method was established the direct and positive influence of oil price over cereal production in Romania. The main conclusion reached by this article is the major impact that the price of oil has on agricultural products in Romania suggesting the importance of the policy that cap the price of oil and allowances to reduce the agricultural production cost.
The aim of this paper is to highlight the need for financial education among adults in Romania. F... more The aim of this paper is to highlight the need for financial education among adults in Romania. For this purpose, we will take as a starting point the current level of financial knowledge that the target group possesses. The research's central hypothesis is the relationship between our nation's educational level and the current economic and financial predicament. Therefore, the traditional questionnaire will serve as the primary research method for this study. The information obtained from the questionnaire will be related to statistical data concerning the financial field in Romania, with the main result being the dimension of the impact of the educational element in the financial life of Romanians.
Sustainable urban development has come to play an essential role in establishing and growing futu... more Sustainable urban development has come to play an essential role in establishing and growing future sustainable cities, or smart cities, which are urban areas that have an optimum carbon footprint, are nature-friendly, and are smart enough to enhance energy efficiency. This study is based on qualitative research in which data were collected from interviews with real estate development specialists. The interviews were addressed to a total of 30 real estate developers from Romania between July and December 2022 and were conducted using the Zoom interface. The aim of this research was to analyze whether familiarity with the smart green concept influences the decision to implement the IoT on a large scale at the organizational level through the perception of specific determining factors in choosing the development of green building projects considering the operational costs. The results revealed a significant indirect effect of green building knowledge on large-scale IoT implementation ...
Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice, 2011
The paper presents an analysis of the main performance ratios of Financial InvestmentCompanies (S... more The paper presents an analysis of the main performance ratios of Financial InvestmentCompanies (SIF1, SIF2, SIF3, SIF4 and SIF5) listed and traded at BVB. The variations ofperformance ratios were valued and analysed over a five years period (from 2006 to 2010)following the way in which the results of SIF-s were influenced by the Romanian financialcrisis.
Journal of Economics and Business Research, Jan 6, 2015
This article proposes to present a modern approach in the analysis of updated cash flows. The app... more This article proposes to present a modern approach in the analysis of updated cash flows. The approach is based on the Fuzzy Pay-Off-Method (FPOM) for Real Option Valuation (ROV). This article describes a few types of models for the valuation of real options currently in use. In support for the chosen FPOM method, we included the mathematical model that stands at the basis of this method and a case study.
Journal of Economics and Business Research, Nov 24, 2014
Since1860 the investment community beneficiated by the first structured approach regarding the oc... more Since1860 the investment community beneficiated by the first structured approach regarding the ocean of data which every potential money supplier was flooded with. It was Henry Poor who leaded the new investment way and, later, was followed by noble successors like John Moody,
This paper shows the results of the numerical simulations carried out on a discounted cash flow-b... more This paper shows the results of the numerical simulations carried out on a discounted cash flow-based enterprise valuation model created by the authors. It describes all the steps of a Monte Carlo type simulation in estimating equity capital value of an issuer listed on the Bucharest Stock Exchange (BSE). Simulated random variables had a great impact on the output variables. Input random variables were characterized by distribution functions deemed appropriate and by moments of order of I and II, obtained from historical data. The operating revenues distribution function is uniform and symmetrical around the estimated values, cantered on these values with a variation of +- 20%. This function was also considered adequate for the variation in the percentage of the net working capital (NWC) in operating revenues. For non-operating assets a Gaussian distribution function and for the Enterprise Value/Earnings Before Interest, Taxes Depreciation and Amortization multiple (EV/EBITDA) an as...
The financial investment companies’ portfolio management consists in converting vision into an in... more The financial investment companies’ portfolio management consists in converting vision into an investment strategy in accordance with the turbulent and complex macroeconomical context. In the particular case of a financial investment company, performant information management becomes an indispensable condition for creating and maintaining investment intelligence suitable to an accessible investment universe and to the investment objectives regarded as responsibilities taken before the owners. The final goal is to realize the optimal target portfolio according to the return objectives adjusted with the risk. Nevertheless, it is necessary that a financial investment company’s strategic investment objectives refer to, and integrate the risk element as well. Risk management incorporates the “risk” element into investment reports and allows for a better understanding of the investment risk and of some other important concepts, such as “risk adjusted return”. Competitive intelligence is n...
The present work establishes the relevance of certain contextual factors such as different invest... more The present work establishes the relevance of certain contextual factors such as different investing styles to the conclusions and recommendations of the fundamental analysis report. From the category of contextual factors, aspects such as the financial instrument, its price, the moment and time span of the analysis and the investor's person have been dwelled upon. From the category of investing styles, the styles based on Value, Growth and Alpha have been reviewed, as well as their conjunction areas with the object of fundamental research and with the selection of the most appropriate working tools for the economy of the analysis report.
Proceedings of the National Science Council, Republic of China. Part B, Life sciences, 1992
The present study aimed to test the effects of experimentally placed working side interference on... more The present study aimed to test the effects of experimentally placed working side interference on nocturnal bruxers with regard to the health and chewing motor behaviors of the masticatory system. Thirteen asymptomatic nocturnal bruxers, nine males and four females, aged 18-31 years old, were selected according to the including criteria. A metal overlay was fabricated and bonded on the tips and lingual inclines of buccal cusps of the upper second premolar and first molar of the habitual chewing side. It discluded the eccentric contacts without disturbing the centric occlusion. A light emitting diode system was used to record the chewing motor behaviors before (W0), immediately after (W1), one day after (W2), one week after (W3), and one month after (W4) placement of the working side interference. The healthy states of masticatory muscles and TMJs were examined at each session. The results showed: 1. High overlay debonding rate (60%). Among five subjects who were observed over 25 day...
2007 2nd International Workshop on Soft Computing Applications, 2007
In order to determine some specific economic characteristics that are associated to the size of t... more In order to determine some specific economic characteristics that are associated to the size of the companies that are listed and traded on the Bucharest Stock Exchange, it is necessary to classify the companies based on the market capitalization, liquidity and the traded volumes. This paper aims to make a comparative study among the parameters of the classes obtained by
Economic and financial stability, sustainability and durable development are top priorities to al... more Economic and financial stability, sustainability and durable development are top priorities to all world nations and this aspect must become no one for both European Union and Romania. Negative effects induced by the short time capital moves and of the different speculative assets bubbles must be restrained and strictly controlled by law and fiscal means. Those means must favour the
The bubbles, either involving real or financial assets, previous to the subprime crisis bring at ... more The bubbles, either involving real or financial assets, previous to the subprime crisis bring at the investor’s community’s concern the elusive topic of risk mitigation. Funds industry need today, more than any time in the past, a clear, decisive and competent approach in risk management. A competitive financial investment company must take in consideration not only basic risk management measures,
The financial investment companies’ portfolio management consists in converting vision into an in... more The financial investment companies’ portfolio management consists in converting vision into an investment strategy in accordance with the turbulent and complex macroeconomical context. In the particular case of a financial investment company, performant information management becomes an indispensable condition for creating and maintaining investment intelligence suitable to an accessible investment universe and to the investment objectives regarded as responsibilities taken
The works presents aspects regarding the sub – prime crisis and the impact of the crisis upon The... more The works presents aspects regarding the sub – prime crisis and the impact of the crisis upon The South – East Europe countries. The first part approaches the origins of the sub – prime crisis, the deteriorating of the balance sheets of the banks exposed to toxic assets and the globalization of the crisis. In the second part, we analyse
Ovidius University Annals Economic Sciences Series, Aug 31, 2022
Fluctuations in the price of oil have increased the cost of production all over the world, puttin... more Fluctuations in the price of oil have increased the cost of production all over the world, putting several industries in difficulty. One of the most important pillars of economy is agriculture, due to its crucial role and ability to grow food and sustain life. The purpose of this article is to observe the influence of the price of oil on the level of agricultural production in Romania. Using the Least Squares method was established the direct and positive influence of oil price over cereal production in Romania. The main conclusion reached by this article is the major impact that the price of oil has on agricultural products in Romania suggesting the importance of the policy that cap the price of oil and allowances to reduce the agricultural production cost.
The aim of this paper is to highlight the need for financial education among adults in Romania. F... more The aim of this paper is to highlight the need for financial education among adults in Romania. For this purpose, we will take as a starting point the current level of financial knowledge that the target group possesses. The research's central hypothesis is the relationship between our nation's educational level and the current economic and financial predicament. Therefore, the traditional questionnaire will serve as the primary research method for this study. The information obtained from the questionnaire will be related to statistical data concerning the financial field in Romania, with the main result being the dimension of the impact of the educational element in the financial life of Romanians.
Sustainable urban development has come to play an essential role in establishing and growing futu... more Sustainable urban development has come to play an essential role in establishing and growing future sustainable cities, or smart cities, which are urban areas that have an optimum carbon footprint, are nature-friendly, and are smart enough to enhance energy efficiency. This study is based on qualitative research in which data were collected from interviews with real estate development specialists. The interviews were addressed to a total of 30 real estate developers from Romania between July and December 2022 and were conducted using the Zoom interface. The aim of this research was to analyze whether familiarity with the smart green concept influences the decision to implement the IoT on a large scale at the organizational level through the perception of specific determining factors in choosing the development of green building projects considering the operational costs. The results revealed a significant indirect effect of green building knowledge on large-scale IoT implementation ...
Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice, 2011
The paper presents an analysis of the main performance ratios of Financial InvestmentCompanies (S... more The paper presents an analysis of the main performance ratios of Financial InvestmentCompanies (SIF1, SIF2, SIF3, SIF4 and SIF5) listed and traded at BVB. The variations ofperformance ratios were valued and analysed over a five years period (from 2006 to 2010)following the way in which the results of SIF-s were influenced by the Romanian financialcrisis.
Journal of Economics and Business Research, Jan 6, 2015
This article proposes to present a modern approach in the analysis of updated cash flows. The app... more This article proposes to present a modern approach in the analysis of updated cash flows. The approach is based on the Fuzzy Pay-Off-Method (FPOM) for Real Option Valuation (ROV). This article describes a few types of models for the valuation of real options currently in use. In support for the chosen FPOM method, we included the mathematical model that stands at the basis of this method and a case study.
Journal of Economics and Business Research, Nov 24, 2014
Since1860 the investment community beneficiated by the first structured approach regarding the oc... more Since1860 the investment community beneficiated by the first structured approach regarding the ocean of data which every potential money supplier was flooded with. It was Henry Poor who leaded the new investment way and, later, was followed by noble successors like John Moody,
This paper shows the results of the numerical simulations carried out on a discounted cash flow-b... more This paper shows the results of the numerical simulations carried out on a discounted cash flow-based enterprise valuation model created by the authors. It describes all the steps of a Monte Carlo type simulation in estimating equity capital value of an issuer listed on the Bucharest Stock Exchange (BSE). Simulated random variables had a great impact on the output variables. Input random variables were characterized by distribution functions deemed appropriate and by moments of order of I and II, obtained from historical data. The operating revenues distribution function is uniform and symmetrical around the estimated values, cantered on these values with a variation of +- 20%. This function was also considered adequate for the variation in the percentage of the net working capital (NWC) in operating revenues. For non-operating assets a Gaussian distribution function and for the Enterprise Value/Earnings Before Interest, Taxes Depreciation and Amortization multiple (EV/EBITDA) an as...
The financial investment companies’ portfolio management consists in converting vision into an in... more The financial investment companies’ portfolio management consists in converting vision into an investment strategy in accordance with the turbulent and complex macroeconomical context. In the particular case of a financial investment company, performant information management becomes an indispensable condition for creating and maintaining investment intelligence suitable to an accessible investment universe and to the investment objectives regarded as responsibilities taken before the owners. The final goal is to realize the optimal target portfolio according to the return objectives adjusted with the risk. Nevertheless, it is necessary that a financial investment company’s strategic investment objectives refer to, and integrate the risk element as well. Risk management incorporates the “risk” element into investment reports and allows for a better understanding of the investment risk and of some other important concepts, such as “risk adjusted return”. Competitive intelligence is n...
The present work establishes the relevance of certain contextual factors such as different invest... more The present work establishes the relevance of certain contextual factors such as different investing styles to the conclusions and recommendations of the fundamental analysis report. From the category of contextual factors, aspects such as the financial instrument, its price, the moment and time span of the analysis and the investor's person have been dwelled upon. From the category of investing styles, the styles based on Value, Growth and Alpha have been reviewed, as well as their conjunction areas with the object of fundamental research and with the selection of the most appropriate working tools for the economy of the analysis report.
Proceedings of the National Science Council, Republic of China. Part B, Life sciences, 1992
The present study aimed to test the effects of experimentally placed working side interference on... more The present study aimed to test the effects of experimentally placed working side interference on nocturnal bruxers with regard to the health and chewing motor behaviors of the masticatory system. Thirteen asymptomatic nocturnal bruxers, nine males and four females, aged 18-31 years old, were selected according to the including criteria. A metal overlay was fabricated and bonded on the tips and lingual inclines of buccal cusps of the upper second premolar and first molar of the habitual chewing side. It discluded the eccentric contacts without disturbing the centric occlusion. A light emitting diode system was used to record the chewing motor behaviors before (W0), immediately after (W1), one day after (W2), one week after (W3), and one month after (W4) placement of the working side interference. The healthy states of masticatory muscles and TMJs were examined at each session. The results showed: 1. High overlay debonding rate (60%). Among five subjects who were observed over 25 day...
2007 2nd International Workshop on Soft Computing Applications, 2007
In order to determine some specific economic characteristics that are associated to the size of t... more In order to determine some specific economic characteristics that are associated to the size of the companies that are listed and traded on the Bucharest Stock Exchange, it is necessary to classify the companies based on the market capitalization, liquidity and the traded volumes. This paper aims to make a comparative study among the parameters of the classes obtained by
Economic and financial stability, sustainability and durable development are top priorities to al... more Economic and financial stability, sustainability and durable development are top priorities to all world nations and this aspect must become no one for both European Union and Romania. Negative effects induced by the short time capital moves and of the different speculative assets bubbles must be restrained and strictly controlled by law and fiscal means. Those means must favour the
The bubbles, either involving real or financial assets, previous to the subprime crisis bring at ... more The bubbles, either involving real or financial assets, previous to the subprime crisis bring at the investor’s community’s concern the elusive topic of risk mitigation. Funds industry need today, more than any time in the past, a clear, decisive and competent approach in risk management. A competitive financial investment company must take in consideration not only basic risk management measures,
The financial investment companies’ portfolio management consists in converting vision into an in... more The financial investment companies’ portfolio management consists in converting vision into an investment strategy in accordance with the turbulent and complex macroeconomical context. In the particular case of a financial investment company, performant information management becomes an indispensable condition for creating and maintaining investment intelligence suitable to an accessible investment universe and to the investment objectives regarded as responsibilities taken
The works presents aspects regarding the sub – prime crisis and the impact of the crisis upon The... more The works presents aspects regarding the sub – prime crisis and the impact of the crisis upon The South – East Europe countries. The first part approaches the origins of the sub – prime crisis, the deteriorating of the balance sheets of the banks exposed to toxic assets and the globalization of the crisis. In the second part, we analyse
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