Volume 45 / 2017

The Impact of Organizational Ethical Climate on Organizational Commitment and Job Performance. A Case Study of Japanese-Funded Manufacturing Enterprises in China

Keikoh RYU

Abstract: The notion of organizational ethical climate, based on an application of Renato Tagiuri and George Litwin’s theory of organizational climate to business ethics, has been receiving increasing attention in China primarily in the fields of psychology and management research. This paper analyzes the impact of organizational ethical climate on organizational commitment and job performance from a business ethics perspective, with a particular emphasis on its role in China`s manufacturing industry. The goal is to provide theoretical and practical guidance for the development of organizational ethical climates in Japanese-funded enterprises in China.
Classification-JEL: M12, M21, M54.
Keywords: Organizational ethical climate; organizational commitment; organizational performance; human resource management; business ethics

Exporting High-Growth Enterprises, Including Gazelles, in Romania

Artur-Emilian SIMION, Florentina Viorica GHEORGHE, Gheorghe ZAMAN

Abstract: In our paper we analyse the most relevant aspects concerning the characteristics of a special category of SMEs, namely the so-called high-growth enterprises, which, in principle, are considered factors contributing to the sustainable development of national economy and to the convergence process, under certain restrictions. As far as the high-growth enterprises are considered, the following cumulative criteria have been used in order to identify them: average annualized growth, in terms of number of employees greater than 10% per year, over a three-year period; at least 10 employees at the beginning of the growth period. A gazelle is a high-growth enterprise that is up to 5 years old.
The importance of this kind of enterprises derive from the contribution they should have to the economic growth and to the job creation in the country where are located. Achieving high growth rates in profitability is the reason why the decision-makers are focusing on the high-growth enterprises, including gazelles. The present paper analyses the impact of high-growth enterprises and gazelles on exports, turnover and employment, in the 2008-2015 period, under circumstances of two major events which marked the national economy – Romania’s integration into the European Union, starting in 2007 also the international financial crisis, in 2009-2010. The study identifies several factors that explain the evolution of the high-growth enterprises, including the gazelles, and some recommendations to support their development in accordance with the importance they have for employment in the national economy.
Classification-JEL: F10, F16, M13, C15.
Keywords: high growth enterprise, gazelle enterprise, export, turnover, employment

Romanian Foreign Trade after Brexit - Impact, Main Challenges and Limits

Elena BANICA, Valentina VASILE

Abstract: The Romanian foreign trade has significantly changed after 1990. The privatization of state companies, the economic restructuring and the EU a1ccession had impacted not only on the size and export diversity but also on the trade structure and the commerce routes inside and outside EU single market. The paper presents trade relation of Romania with the UK in the context of the single market and analyses the Brexit impact on the foreign trade, by type of capital (domestic vs ISD), of activity (inward processing) and product technology. We demonstrate the impact of Brexit on export performance by groups of companies’ levels and some related consequences for national foreign trade model and economic performance. Romania constantly registered in the last decades a trade balance surplus with the UK and we examine the profile and peculiarities of the bilateral relations. Main conclusions are focused on export sustainability and competitiveness.
Classification-JEL F10; F13; F21; F43; O24; N47.
Keywords: Brexit; foreign trade; export map; export sustainability; FDI; high-tech products.

Some Aspects of the Export Performance and Efficiency in the Romanian Economy

 Artur-Emilian SIMION, Florentina Viorica GHEORGHE, Gheorghe ZAMAN

Abstract: Generally, a large share of the exports of high-tech products in the total exports of a country is the best indication of its high level of competitiveness. Ten years after joining the EU, Romania has an increasing share of high-tech exports, as compared to the EU pre-accession period, being still far from the European average and from its main trading partners.
The objective of this study is to analyse the performance of Romania's exports, during different periods, before and after the EU accession, taking into account the profile of the international specialization, measured by various indicators as the products and partner countries concentration, the revealed comparative advantages (RCA), the inter and intra industry trade.
The specialization and international cooperation in producing finished and semi-finished products, parts and subassemblies generates high trade volumes within international value chains. However, the international division of labor has deepened, so that the field of competition has passed from the finished products to the intermediary goods, in different phases or stages of technological processing. In this context, our research has been focused also on the structure of Romania's exports, both according to the criterion of the end-use of the exported goods, and in terms of the domestic value content of exports.
Classification-JEL F14, F15, O24.
Keywords: exports, revealed comparative advantages, RCA, Grubel-Lloyd indices, inter and intra industry trade, international specialization.
The Attractiveness of the Research Career  in Romania in the European Context

Irina ANGHEL, Steliana SANDU

Abstract: According to literature and, after all, to the economic rationale, the availability and quality of the human resources is a critical factor for vivid, flourishing and pervasive research, development and innovation (RDI) activities. Indeed, probably more than in many other social and economic areas, in the RDI sector, the human capital is hardly a fungible input. As research and innovation stand out as a prerequisite for economic growth, for higher competitiveness, as well as for the society’s general welfare, the human resources in RDI become a very important asset for economic, social and environmental sustainability and resilience. This paper looks into the availability of the human capital for research, from the perspective of the attractiveness of the Romanian RDI system for the potential human resources. Drawing on literature, on qualitative analysis, and applying statistical tools such as autoregressive models built on panel data available for the EU countries, the authors identify and assess the relevance of the main factors considered most important for the capacity of a RDI system to attract and keep the most valuable human resources. They also draw a few strategic action lines that may boost the interest of the qualified individuals, for research and academic careers.
Classification JEL: O30, O38.
Keywords: human resources in RDI; scientific research careers; doctorate holders careers.

Features of the Production Factors Substitution and the Estimated Parameters of the Cobb-Douglas Function with Constant Returns to Scale and Disembodied Technical Change

Florin Marius PAVELESCU

Abstract: The paper shows that, if the OLS method is used, the features of substitution between the considered production factors have an important impact on the estimated parameters of the Cobb-Douglas production function with constant returns to scale and disembodied technical change as well as on the dynamics of the total factor productivity. The author reveals the dual nature of the above-mentioned production function and identifies all the possible correlations of the estimated parameters when productivity of labour tends to grow in the long run. A special attention is paid to the possible occurence of harmful collinearity. The author reveals that the occurence of the respective type of collinearity type is dependent on the feature of the dynamics of productivity of the substituting production factor. Consequently, an extended estimation methodology is proposed in order to reveal the feature of the production factors substitution, the form of the trajectory o f thedynamics of the partial productivity of the considered production factors and the impact of colinearity on the estimated parameters. This methodology is practically used by considering the evolution of Japan`s economy during the 1971-1986 period. The methodology of the study involves the comparative analysis of the macro and micro financing of regional development and institutional and legal analysis of forms and schemes of public financing. In conclusion some problems and prospects are drawn for the public governance of Bulgaria in support of financing regional development.
Classification JEL: C13, C18, C22, C25, C51, E24.
Keywords: productivity function, representative index, total factor productivity, capital deeping, substituting production factor, harmful collinearity.