0000000000298100
AUTHOR
Dănuț Dumitru Dumitrașcu
The effects of fiscal policy shocks on the business environment
Fiscal policy influences economic conditions through public spending and taxes, generating positive or negative impulses, both on short and long term. The present research focuses on analysing the effects of the discretionary changes in the fiscal policy in seven post-communist countries of the European Union during the period 2000–2018. The autoregressive distributed lag model (ARDL) has been applied in order to obtain the convergence rates to equilibrium with a clear analysis of the periods needed to achieve the long-run fiscal sustainability. Also, the error correction vector model (VECM), which is based on the autoregressive vector (VAR) model, has been used in the second part of the an…
CORPORATE BANKRUPTCY AND INSOLVENCY PREDICTION MODEL
In any competitive economy, the risk of bankruptcy is pervasive. The research aims to contribute in improving the predictive power of bankruptcy and insolvency risk among companies by introducing new methods of processing and validation. This paper investigates the extensive application of the Z score model for predicting the economic-financial stability of Romanian companies in the manufacturing and extractive industries. A list of 37 financial indicators determined on the basis of the balance sheet data of 80 companies for the period 2015–2018 was used. Stepwise Least Squares Estimation through the Forward method allowed the identification of the most relevant ones. Canonical discriminant…
Holonic Handling the Unexpected in Project Management
Abstract Risk assessment is one the key activities of any project. The unexpected situations can have catastrophic consequences. Risk assessment tries to estimate to potential known unknowns, but there is no guarantee to foresee all circumstances around a project. In this situation the project team must be adaptive and find solutions by cooperation, creativity and abductive reasoning. In the paper we tried to analyse on what extent a project and a project team can be handled as a complex adaptive system. More precisely, how the scientific and practical achievements of the theory of complex adaptive systems (CAS) can be used in project management. More exactly, we analyse the applicability o…