Carmen Boghean

The Relation between Foreign Direct Investments (FDI) and Labour Productivity in the European Union Countries

Abstract The effects of foreign direct investments (FDI) on host countries’ economies are mainly related to the increase of labour productivity through technological transfer, management and marketing proficiency that enables long term technological progress and economic growth. When the quantitative growth of the production factors is more difficult to achieve through decision makers’ measures, countries can try to increase the qualitive level. The development of performing management skills according to the standards imposed by the major corporate leading systems, the increase of the populations training level and its capacity to adapt to the technological developments can contribute to the increase of labour resources’ quality. In this paper, we analyze the relation between foreign direct investments and labour productivity in the E.U. countries, based on the data retrieved from the Eurostat website, for the 2000 – 2012 time periods. The data were processed using the SPSS computer program, through the correlation method.

Statistical Correlation Between Tourism and Poverty in EU Countries

Tourism is a crucial factor that contributes to a country’s economic growth. Nowadays, one of the greatest challenges worldwide is to diminish poverty since an increasing number of individuals suffer from this phenomenon. Throughout time, in many countries, tourism worked and still works as an economic development engine, contributing both directly and indirectly to the creation of working places in the economy. Tourism is one of the sectors of economic activity that can offer multiple opportunities to stimulate labour market growth with profound implications for the economic development level of countries that have a high level of poverty. Therefore, for some countries tourism represents the main source of foreign currency. If these revenues are directed towards poverty diminishing, the poorer categories can benefit from the inclusion of the local people in tourism activities, with positive effects on the attenuation of the current level of poverty. The aim of this research is to analyse the correlation between the activities from the tourism industry and the poverty level in the countries of the European Union. The employed research methodology relies on the correlation analysis, accomplished through the use of the data sets collected from the Web page of the European Commission related to the revenues obtained from tourism and the poverty level in the countries of the European Union. In order to highlight the differences existing between the EU member states, we will make a comparison using the cluster analysis. This paper aims to reveal that tourism cannot be regarded as the only factor for poverty diminishing but may have an extremely important contribution. Taking into account the size of the tourism industry in many countries of the European Union, we can state that a change of the approach regarding this industry’s importance for the economic development may have remarkable effects on diminishing the level of poverty.

Development of Romanian Corporate Governance in Hospitality Industry: Necessity and Favorable Factors

The risk derives from people’s incapacity to foresee the future, and it is acknowledged only when the possible outcomes have a fairly significant degree of uncertainty. Risk cannot be completely eliminated by man when future results are influenced by random factors. However, it lies in its power to reduce the risk to a level that makes it acceptable. Never, in the history of mankind, larger monetary losses have existed. In this case, two external elements influence the process of making economic decisions, with contrasting effects. The first element is an external one and refers to the accuracy of the obtained results, which of course needs to be maximized, because with increasing precision of the results, the probability of an error decreases. The latter factor relates to the timeframe in which economic decision has to be made, which is increasingly transforming into a luxury characteristic afforded by few entities. This scientific approach aims to identify the corporate governance development favorable factors, and it is based on a specific research methodology, consisting of techniques and methods used to achieve the proposed objective. The paper approaches, from an interdisciplinary perspective, the corporate governance efficiency, a relatively new theme compared to other fields, but which presents an ever-increasing interest. The research falls within a positivist scientific endeavor, which is not deprived of some critical and interpretative approaches that aim at explaining different concepts, as well as highlighting the possible solutions for the identified problems.

Risk Management in the Decisional Process

The achievements of individuals have generated an attitude change toward risk, and the passion for gambling and bets has channeled itself toward economic growth, enhancing the life quality and technological progress. The capacity of defining something that will happen in the future and to choose between more than one alternative represents a central principle of today’s society. Managing risk helps us to orient in a large spectrum of decisional processes, ranging from investing capital to making a family, from insurance premiums market to whether wear a seatbelt. Long time ago, means of production, business administration, and communication were simple. Failures were often, but they could be solved without calling on a computer technician, accountant of investment adviser. Presently, the means we use are much more complex and failures can be catastrophic, with a devastating impact. We must constantly be aware of the failures’ probability and errors.