https://www.um.edu.mt/library/oar/handle/123456789/28504 2026-04-15T23:57:02Z https://www.um.edu.mt/library/oar/handle/123456789/31861 Title: Transparency in financial statements (IAS/IFRS) Authors: Lepadatu, Gheorghe V.; Pirnau, Mironela Abstract: The provision of transparent and useful information on market participants and their transaction is essential for an orderly and efficient market, and it is one of the most important preconditions for imposing market discipline. Left to themselves, markets may not generate sufficient levels of disclosure. Market forces would normally balance the marginal benefits and marginal costs of additional information disclosure and the end result may not be what the market participants really need. 2009-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31860 Title: The use of management science techniques by business organisations with special emphasis on the use in different functional areas : survey in Greek companies Authors: Halikias, John G. Abstract: This paper presents an ongoing survey project researching into the extent and nature of use of management science techniques by business organisations in Greece. The survey shows that the usage of MS-techniques in Greek companies is relatively high compared to other European countries. However, the usage of more advanced techniques is very low in Greek firms and the application of MStechniques is concentrated on a few traditional techniques. The reason for the low degree of applicability of more advanced techniques seems to be the general lack of understanding for the importance of these techniques. 2009-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31859 Title: The impact of the Europeanization process on state-industry interaction in Romania Authors: Tache, Ileana; Neesham, Cristina Abstract: This article argues that potential EU membership can function as a powerful impulse for the modernization of the economic, political and social systems of candidate countries. To illustrate this, evidence of the transformations of the Romanian state-societal interactions in the transition period are discussed, with special focus on privatization, enterprise restructuring and competition policy. The article also explains why the Europeanization process has so far worked more slowly and less effectively in Romania than in other Central and Eastern European countries. This analysis could be used as a learning experience for prospective EU members to adjust to the European environment. 2009-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31856 Title: The estimation of the equilibrium real exchange rate for Romania Authors: Dumitrescu, Bogdan Andrei; Dedu, Vasile Abstract: This paper aims to estimate the equilibrium real exchange rate for Romania, respectively the real exchange rate consistent with the macroeconomic balance, which is achieved when the economy is operating at full employment and low inflation (internal balance) and has a current account that is sustainable (external balance). This equilibrium real exchange rate is very important for an economy because deviations of the real exchange rate from its equilibrium value can affect the competitiveness of a country. An overvalued real exchange rate will determine a lack of external competitiveness and deteriorate the country’s real activity. An undervalued exchange rate will increase on short term exports and it will lower the current account deficit but, on the long term it will increase the inflationary pressures. The equilibrium real exchange rate is also a very important variable for a country who wishes to join ERM II. In fact the central parity should be chosen to reflect the equilibrium exchange rate. The conclusion is that the real exchange rate had some important deviations from its equilibrium value which were determined by the liberalization of the prices and of the foreign exchange market and by the fluctuations of the nominal exchange rate. These deviations are not likely to put at risk the entry in ERM II. 2009-01-01T00:00:00Z