Article

 

Supply chain integration and performance: Evidence from Romania (p.11-30)

by

Roxana Wright, Plymouth State University

Keywords : Supply chain integration, Performance, Romania

JEL classification : L10

Abstract

The present paper investigates the link between supply chain integration and firm performance in Romania. The logistic regression results indicate that industry efficiencies determine company performance and that firms that are in industry segments with high operational efficiency are more likely to achieve top performance, regardless of supply chain integration or product type. Ownership of activities across the supply chain may lead to limited flexibility and does not necessarily translate in higher performance. For companies considering operations in Romania, industry and sub-industry analysis is critical, as success and growth may be predicated upon the industry operating margin.

 

 

Audit market concentration for the segments of listed and non-listed auditees in Slovenia (p.31-49)

by

Maja Zaman Groff, Faculty of Economics, Ljubljana, Slovenia

Amela Salihovi, Faculty of Economics, Ljubljana, Slovenia

Keywords : Auditing, Concentration, Listed companies, Non-listed companies, Slovenia

JEL classification : M42, M48, D40

Abstract

High audit market concentration in the European Union (EU), especially in the segment of public interest companies (PIEs), was highlighted by the European Commission (EC) as problematic in the Green Paper on Audit Policy. We find that the market for the segment of listed companies is highly concentrated in Slovenia whereas in the segment of non-listed companies the concentration is relatively low. Given the observed trend of continuing decline in concentration level for non-listed companies and the overall observation of the differences between the two segments we conclude that the decision of the EC to prepare a separate, more stringent set of rules for the statutory audits of PIEs was justified. However, for proper implementation of national legislation for audits of non-PIEs (including mandatory audit firm rotation and prohibition of non-audit services) attention should also be placed on the effect of these measures on audit quality.

 

 

The economic crisis and industrial relations: Greece and Romania in comparison (p.51-77)

by

George Economakis, Department of Business Administration, University of Patras

Valeriu Frunzaru, College of Communication and Public Relations, National University of Political Studies and Public Administration

Ioannis Zisimopoulos, Department of Business Administration, University of Patras

Keywords : Industrial Relations, Collective Bargaining, Economic Crisis, Greece, Romania

JEL classification : J52, J53

Abstract

The purpose of this study is to investigate, in a comparative framework, the impact of the adjustment programs (Memoranda) in Greece and Romania, in the context of the global economic crisis. In Greece the crisis emerged as a twin (trade and fiscal) deficits crisis and in Romania it has taken the form of a public debt crisis. As a result, in Greece the austerity policy has directly affected employees both in private and public sectors, while in Romania it has focused in public servants. The decentralization of the collective bargaining system is a common feature in both countries. In Greece, decentralization occurs through the complete undermining of sectoral collective bargaining (decentralized decentralization), while in Romania through the weakening of the sectoral collective bargaining in favour of collective bargaining at enterprise level. The structure of employment in both countries determines the outcome of the process of decentralization.

 

 

"It won't happen to me": Is there a link between trust and optimism?  (p.79-98)

by

Yuri V. Avtonomov, National Research University Higher School of Economics, Moscow

Elizaveta T. Elizarova, International College of Economics and Finance, Moscow

Keywords : Trust, Trustworthiness, Expectations, Experiment, Optimism bias

JEL classification : D84, Z13

Abstract

The importance of trust in facilitating economic interactions and its contribution to social welfare gives economists ample reasons to study trust. However, despite a long history of experimental studies of trust, its determinants are still not completely clear. We report evidence from an experimental study which suggests the existence of an optimism bias: players expect their partners to be more trustworthy than the average member of the population. This bias was positively and statistically significantly related to players' decision to trust. Our data also indicates a positive relation between the player's decision to trust and her expectations about the overall trust level: players who trusted their partners also believed that other players would trust more often.

 

 

Successive local government institutional reforms in Greece: From regionalization to regionalism? (p.99-131)

by

Panos Ioannidis, Department of Economics, Democritus University

Keywords : Regionalism, Regionalization, Local Government, Institutional Reforms, Kallikrates

JEL classification : R50, H77, R58

Abstract

The system of local government in Greece incurred significant alterations in the last years. Kapodistrias and Kallikrates reforms generated new conditions for regional policy. The aim of this paper is to study the course of local government reforms in Greece in terms of regionalization and regionalism. It is argued that the successive implementation of Kapodistrias and Kallikrates reform are crucial steps from regionalization to regionalism. Methodology is based on a primary research that took place in Eastern Macedonia and Thrace (NUTS II). A closed type questionnaire was distributed in local actors. Results demonstrate that operation of local/regional governments and intraregional cooperation improved significantly by the reforms. Non institutional partners assessed more substantially the provisions of Kapodistrias and Kallikrates reform than institutional partners did. A more interactive framework is required in order local actors of Eastern Macedonia and Thrace to advance the process from regionalization to regionalism.