Studia Universitatis Babeș-Bolyai Oeconomica

ESG SPILLOVER AND VOLATILITY

2024-03-21T08:28:15+00:00

This study investigates the spillover effects of ESG scores from companies operating in the same industry and their impact on stock return volatility. For this purpose, I considered a sample of European listed companies from 2019 to 2022. The results provide evidence of a spillover effect of ESG scores on the ESG ratings of other companies belonging to the same industry. Furthermore, I observed direct spillover effects of the individual Environmental, Social and Governance pillars, with similar magnitudes. I also found that stock return volatility is directly related to ESG scores, including spillover effects.

JEL Classification: G30, M14.

IMPACT OF IFRS ADOPTION ON FINANCIAL STATEMENTS VALUE RELEVANCE. A STUDY OF EASTERN VS. WESTERN EUROPEAN COUNTRIES

2024-03-21T08:43:22+00:00

The implementation of IFRS has been a significant milestone in the accounting field, sparking debates among advocates and critics regarding whether the initial objectives were actually achieved in practice. This paper aims to investigate whether the adoption of IFRS has led to an increase in the value relevance of financial statements in both Eastern and Western European countries. The study takes an empirical approach, analyzing companies before and after the adoption of IFRS, and introduces contemporary concepts that can contribute to future research. Policymakers rely on evidence-based policies and often seek impartial and reliable evidence from academic researchers. Given the extensive body of research conducted thus far, this paper seeks to further emphasize the positive impact of IFRS implementation.

JEL Classification: G14, G15

EXPLORING DETERMINANTS OF TRANSFER PRICING PRACTICES AMONG ROMANIAN PUBLICLY TRADED COMPANIES

2024-03-21T08:52:04+00:00

This paper explores the effect of determinants shaping the landscape of transfer pricing practices within intra-group transactions among publicly traded companies in Romania over the period 2022. The research hypothesis focuses on identifying the variables that have a significant impact on transfer pricing in the Romanian business environment. Data collection was conducted manually from various sources, including explanatory notes from annual reports and databases such as Thomson Reuters and Bloomberg. The results reveal that the size of companies, sales, capitalization, foreign ownership, sales growth, and operational profit collectively contribute to the influence on transfer pricing practices. However, individual analysis shows that only sales significantly affect the transfer pricing practice.

JEL classification: M4, H25, F23, H87

EUROPEAN MACROECONOMIC DYNAMICS ON FINANCIAL MARKETS AND ECONOMIC POLICY: A CROSS COUNTRY STUDY FOR SPILLOVER EFFECTS

2024-03-21T09:04:25+00:00

What is the direction and extent of the spillover effects of sovereign bond yields in the European Union and which countries are transmitters and receivers of these effects? The motivation for this research is related to the need to better understand the interconnectedness of European Union sovereign bond markets in the context of rising budget deficits and public debt, as well as recent financial and sovereign debt crises, which have highlighted the importance of bond market interdependencies. The main objective of the paper is to investigate the direction and magnitude of the spillover effects of sovereign bond yields in the European Union and to identify the states that act as transmitters and receivers of these effects. The data used in the analysis include the evolution of the bond markets of the euro area member states and non-monetary union states, to allow comparison and assessment of their interconnectivity. To analyze the interconnectedness of bond markets, methods which provide a suitable analysis framework to assess volatility propagation between countries were used. The research results highlight that most of the contagion effects are concentrated in the peripheral countries, such as Romania, Portugal, Lithuania and Ireland, and the central countries act as transmitters of these effects.

JEL Classification: C01, C51, C52, C53, C54, C58, C61, C63

EFFECTIVE COMMUNICATION AS A SUCCESS FACTOR IN PROJECT MANAGEMENT IN AN UNIVERSITARY CONTEXT

2024-03-21T09:42:59+00:00

This paper examines the effectiveness of communication of university students with high school students from all over the country. We look to provide a deeper understanding of how effective communication contributes to the success of a project in the sector of education and we identify some strategies that contribute to the improvement of some key aspects of communication. Thus, we have analyzed the importance of communication both inside and outside the team using three qualitative methods: project case study, document analysis and in-depth interviews with project participants. Our results are relevant for the potential new project participants, but also for the stakeholders in the public education sector in general, who aim to foster the bridge between university and pre-university education. We finally address conclusions and recommendations, which may serve as a guide for future participants and those who want to know how they can benefit from better communication in similar projects.

JEL Classification: M14, H43, I23