FINANCIAL AND OPERATING RISK ANALYSIS OF TWO ROMANIAN-HUNGARIAN BORDER COUNTIES

The study analyzes the risk of companies selected from two Romanian-Hungarian border counties (Bihor and Hajdú-Bihar counties) by the degree of operational and financial leverage ratios. A total of 1,674 companies from the two counties were included in the analysis, in approximately half and half proportions. In the study, operating, financial and combined leverage ratios are used for risk analysis. Because of the large variance of the ratios, outliers were filtered out. The filtering was based on the degree of the combined leverage ratio, which resulted in 107 companies excluded. In the analysis of sectors, there are significant differences in DOL ratio values between counties. For the DFL indicator, the values are much more balanced. There are also larger differences for DCL, which are likely to be caused by DOL values. The analysis showed no statistically significant difference in leverage ratios between the total county data or the sector-disaggregated county data. The analysis also suggested that some accounting reports may contain manipulations but that further investigations are needed to substantiate them adequately.

TRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS

The country’s general economic development links public finances with the state, which needs financing, as they are a major concern for specialists in the field. The budget has objectively established itself as an appropriate and indispensable support for the establishment and rational management of public financial activities. A budget provides an overview of resources and how they are redistributed to achieve organizational objectives. Although the need for a system of programming and highlighting revenue and expenditure to support the implementation of specific activities and the dimensioning of their effectiveness is recognized, it is considered that this need is more pressing for public activities. As a financial management tool for strategic budgetary planning, best practices in the field of planning, and public financial management are strengthened, the public budget ends each year with the approval of the general account of its implementation. Romania is actively involved in the modernization of public sector financial management, thus it has managed to implement a well-functioning it service for reporting the financial statements of public institutions, which facilitates the collection of information needed for EU-level reporting. The implementation of this system at national level results in the discipline of the budget institutions and in full transparency as regards the budget used and how this budget has been spent. The aim of this work is to present, through an exploratory approach, the temptations in the presentation of budget information in the Romanian financial statements. Planning a realistic budget ensures optimal allocation of state resources, the achievement of political priorities, and involves only an extension of the time horizon in the preparation of the public financial plans, but also an economic focus and efficiency in the management of public resources. Responsible financial and budgetary management generates efficiency, effectiveness and performance in the design and implementation of balanced budgets for the functioning and development of the administrative capacity of public administration structures.

EXAMINATION OF DIGITALIZATION IN HUNGARIAN AND ROMANIAN COMPANIES

2020 posed a series of unforeseen challenges for economic actors. Digitalization, one of the most critical drivers of innovation, provided a lifeline for organizations who anticipated the opportunity and ramifications of a global pandemic. Digitalization offered alternative solutions for contacting partners, serving customer needs, retaining customers, and creating the possibility of online administration. The present study seeks to answer the question – using a database of ongoing research – to what extent are Hungarian and Romanian businesses able to discover the characteristics of the digital transformation, where and to what extent digital technology plays a role in the supply chain, and whether they have started digitization. The developed quantitative database was analyzed and processed utilizing SPSS 25 statistical software. Descriptive statistics and frequency analysis were run, followed by an analysis of variance to explore the existing relationships. For the multiple mean comparison test, the Tamhane test was used to analyze for differences in groups. As a result of the evaluation, the authors found statistical support that managers opinions on Internet Platforms creating more accessible business agreements is dependent on firm size with larger firms placing more emphasis on the benefits of Internet Platforms than smaller firms. The organizations recognize the potential of digital developments, but these developments are accompanied by a high degree of mistrust. Digital technology is typically used only to conduct processes during production or service activities and not as commonly conducted for increasing market share or expansion. Based on the authors’ proposal, the broadest possible application of digital technology within a company can provide its user a long-term survival, competitive advantage, and further development opportunities.

INVESTIGATION OF THE COMMERCIAL SITUATION AMONG BEEKEEPERS IN HUNGARY FROM 2010 TO THE PRESENT

The beekeeping and beekeeping sectors are very important sectors on a global scale. This is because these sectors play a key role in agriculture and therefore play an essential role in the food supply of humankind. In our research, we would like to examine this global process at the Hungarian level (what commercial opportunities do Hungarian beekeepers have). The main goal of our research is to gain insight into the commercial situation of beekeepers and to help beekeepers who read this research sell their products more efficiently. We chose this topic because in the current COVID period, it is important to implement a healthy diet in our diet (to which honey can contribute). In our research, we also conducted a questionnaire survey (at the national level among Hungarian consumers). The questionnaire was completed by more than 650 people, and the analysis was performed based on the responses received. We also conducted a survey on the part of farmers, in which we analyzed the investment of a real economy in the sector. Based on the conclusions obtained in the analyzes, we compiled the SWOT analysis, in which the advantages, disadvantages, opportunities and dangers of the sector were presented. Our aim is to get a real picture of the commercial situation of beekeepers in Hungary by conducting research, which may also have an impact on honey consumption in Romania.

BOOKING TRAVEL THROUGH THE AIRBNB PLATFORM DURING THE COVID 19 PANDEMIC

The collaborative economy, even if it has moulded well in the tourism market and has developed surprisingly, has been a controversial field from the very beginning, especially as it does not take place within a very well regulated legislative framework. The outbreak of the COVID 19 pandemic severely destabilized all industries, but among the most vulnerable to it was tourism. Not much is known yet about the impact of COVID 19 on traditional sectors, let alone studies or analyses of how the pandemic has affected non-traditional peer-to-peer accommodation. This article attempts a brief analysis of how people have booked or canceled their trips through the Airbnb platform since the beginning of the pandemic. The results show that the sharpest decline was recorded in April 2020 when the number of bookings fell by 72%, compared to the same period in 2019. In the summer months, when most people plan their vacation, the bookings were not numerous, but they kept a certain stability. Compared to June-September 2019, bookings in 2020, during the same period, decreased by 20%. The pandemic has hit this sector hard, especially as all pre-pandemic forecasts showed significant increases in peer-to-peer accommodation between 2020 and 2025 and therefore increases in overall revenue as a result of bookings. This study shows that peer-to-peer accommodation is just as vulnerable to such a pandemic as traditional accommodation. Providers need to rethink their offer in order to reduce financial losses and at the same time protect their employees and provide them with job stability. It can be seen that the cancellations and alterations of the services booked through Airbnb increased exponentially after the outbreak of the COVID 19 pandemic because people could no longer travel from one place to another and even if certain journeys were allowed, people were afraid or felt uncomfortable taking trips.

COMPARATIVE ANALYSIS OF VOCATIONAL TRAINING SYSTEMS IN THE LIGHT OF EU GUIDELINES

Continuous development of education and training programmes in the European Union is a key factor in enhancing cooperation at European level. Today, economic and social changes are taking place in the world, which is why vocational training is seen as a tool to prepare people for a changing world of work, improving employability and competitiveness. Vocational education and training must adapt to changes affecting the economy, society and the labour market. Vocational education and training (VET) policy has been a national, autonomous area of the Member States for decades, but the issue of VET has increasingly been given priority in the process of European economic unification. At the Lisbon Summit, the European Council recognised the important role of education as an integral part of economic and social policies, which is an important tool for increasing the European Union’s competitiveness. European cooperation in VET has been promoted by the three common European instruments created as a result of Copenhagen process: the European Qualifications Framework (EQF), the European Quality Assurance Reference Framework for Vocational Education and Training (EQAVET) and the European Credit System for Vocational Education and Training (ECVET), which are progressively integrated in their VET systems by the Member States. The aim of these instruments is to support recognition between European VET systems, to promote lifelong learning and mobility and to improve learning experiences. The aim of our study is to explore with a comparative study, to what extent and manner the V4 Member States (Czech Republic, Hungary, Poland, Slovakia) have integrated EQF, EQAVET and ECVET transparency instruments into their national vocational training systems and to what extent the transformations are in line with EU objectives.

SOCIAL ORGANIZATIONAL RESPONSIBILITY MANAGEMENT MODELS: WHAT LESSONS FOR HUMAN RESOURCES MANAGEMENT?

This communication represents a work in progress by the first author, who is enrolled in a research program of master in organizations management. The notion of social corporate responsibility (SCR) is increasingly present in management literature. It is linked to profitability, investor attraction and brand image. More recent research has begun to investigate the link that can be made between SCR and human resources management (HRM). In the vein of this field of research, our paper proposes to take a closer look at how certain SCR models, implemented consciously or not by certain companies, could impact the employee perception of employment relationship quality. The concept of “quality of life at work” and social identity theory will be used to measure the employment relationship quality. To carry out the research, a qualitative methodological approach, based on comparative case study, will be used. A sample of about 20 participants (manager and employees) will be targeted. The results of the research could provide a better understanding of how the decisions taken in relation to SCR could be combined to form original models of social responsibility management. Moreover, the study of the links that can be established between SCR models and the perception of the employment relationship quality could allow companies to better manage their human resources and improve retention and attraction of the employees.

A SURVEY OF LITERATURE REVIEW ON BANK PREFORMANCE

This study analyses existing literature review studies on banking sector performance. Specially, this research aim is to identify topics of interest and development niche for this vast field. The paper presents a content analyses of 14 literature review on banking sector performance studies, selected using clear and transparency methodology. The content analysis of the papers identified that themes are diverse: banking performance and efficiency analysed using the DEA (Data Envelope Analysis) method, banking efficiency and risk, banking efficiency and competition, mobile banking and bank profitability. Based on selected papers this study identified that in recent years number of systematic literature revie studies increase, in the same time traditional literature review are decreasing.

CASE STUDY OF THE ORIGIN AND THE EVOLUTION OF ACCOUNTING SYSTEMS REGARDING TO THE HARMONIZATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN JORDAN AND ROMANIA

It is valuable to take note that the majority of financial reporting pundits are in agreement that the financial reporting system of a country depends on several factors that include the legal, economic, and cultural background; The development of tasks performed by accounting is persistently inspired by needs of practice. It is clear of that accounting schemes play an essential role in the market economy, particularly in face of globalization of capital markets, where increasing need for comparable, transparent financial statements for the companies. Rather, it is proposed to present information that is used in making reasoned options amongst alternative uses of limited resources in the conduct of business and economic activities. The present paper discusses the possibilities to improve the accounting policies and procedures in Jordan and other Middle East countries in accordance with commitment of the International Financial Reporting Standards (IFRS). Throughout this study we used a qualitative approach, to outline an overview of the history of financial reporting and its evolution from the origin, to the growth and development of accounting systems by studying a considerable amount of bibliographic material, using different textbooks and journals on accounting theories but also public information presented by the accounting organisations and the government of the two analysed countries. Furthermore, the paper reviewed the achievements made in the convergence of International Financial Reporting Standards (IFRS), in the Middle East countries, in Jordanian context and in the European Union, specifically the case of Romania. International financial reporting standard (IFRS) implementation in Jordan has departed through several transitional phases wile in our previous work we noticed that Romania can be considered a benchmark of high degree convergence to IFRS.

CRITICAL SUCCESS FACTORS OF STRATEGIC ACCOUNTING INFORMATION SYSTEM AND IT’S RELATION WITH STRATEGIC DECISIONS EFFECTIVENESS

This paper attempts to explain the critical success factors of strategic information system (SIS) and it’s relation with strategic decisions effectiveness. An analysis demonstrated that SIS advancement began from a mechanical concentration toward a procedure concentrating on complementary association with firms’ system and notwithstanding setting business technique and driving hierarchical change and structure. Primarily, the best SIS is coordinated such that better fits the affiliation properties for the culture, structure, style and limits. Finally, strategist’s effort to improve the fragmented data they have dependent on their past experience and claim intellectual styles. In this way any choices made would be made reliant on the strategist’s qualities, convictions and experience, which at last could confine the decisions that they make. Basically, then qualities fill in as outlines or establishments for deciding, tackling issues and settling clashes.