EEJRS Issue 10.2 Full text
EASTERN EUROPEAN JOURNAL OF REGIONAL STUDIES
ISSN: 1857-436X, ISSN: 2537-6179
Volume 10 | Issue 2 | DECEMBER 2024
Authors: Dok Hee OH, Kyung Sook GIL
Abstract: Expanding economic cooperation with the EAEU is of great importance to the Government of the Republic of Korea, which is focusing on providing new drivers of economic growth through expanded trade with various countries and groups of countries, including the Eurasian region. Economic cooperation between the Republic of Korea and the EAEU has the potential to promote mutually beneficial development in the long term as both regions are forming complementary industrial complexes. International competitiveness can be ensured through bilateral economic cooperation based on the advanced industrial technologies of the Republic of Korea, as well as energy and mineral resources, which are the main production factors of the EAEU countries. Moreover, in the current economic situation of the Republic of Korea, where it is necessary to reduce trade dependence on China, expanding cooperation with the EAEU is becoming a key aspect of its further economic development.
Keywords: South Korea, The Eurasian Economic Union, economic cooperation, investment, trade, competitiveness, market growth potential, market stability, international competitiveness.
UDC: [339.923:061.1EAEU]:[339.56+339.727](519.5)
JEL Code: E60, F02, F13.
Pages: 6-18 | Full text (PDF)
DOI: https://doi.org/10.53486/2537-6179.10-2.01
Author: Anis BENABED
Abstract: This paper analyzes, describes the possibilities of business internationalization for both MNCs and SMEs to survive from competition, risks, restrictions and market tights for business values. The results and analysis demonstrated that Small and Medium Sized Enterprises (SMEs) may use some models to internationalize their product, operations or services. Multinational companies (MNCs) that wish to leave markets tights should take into consideration the importance of location for them once they are determined that they have a strong ownership to compete with in foreign markets. Multinational companies may purchase SMEs in their locations to transform them to some of their subsidiaries and help them survive or merge them to their system. SMEs may grow by going for the internationalization process choosing the chosen suitable entry mode such as FDI in case the three conditions of the OLI model Ownership, location and internalization by Dunning (1988) are fulfilled. SMEs may merge with MNCs in their locations but they should not compete with them to avoid major losses. SMEs may follow the UPPSALA model (1977) and its four stages for their internationalization process. Furthermore, SMEs may choose any of the four Bartlett and Ghoshal’s strategies and typology for internationalization to become multinational, global, international or transnational if their internal and external budgets afford them for that. In conclusion, SMEs are considered driving companies for local economies in the EU and other economies with their rising numbers, they may remain domestic or grow through the process of export, import, outsourcing, licensing or franchising especially if they are innovative, they may follow the suitable internationalization entry mode in globalization. MNCs and SMEs are considered driving companies in globalization, according to this full paper and study both are drivers in globalization.
Keywords: Business internationalization, SMEs’ internationalization, MNCs’ internationalization, Globalization, Slowbalization, FDI, business value, process, merger, companies.
UDC: [005.44:005.332.4]:[334.722+334.726]
JEL Code: F20, F21, F23, F60, F61, F62.
Pages: 19-33 | Full text (PDF)
DOI: https://doi.org/10.53486/2537-6179.10-2.02
Author: Avdi SMAJLJAJ
Abstract: Multiethnicity is one of the fundamental conditions of Kosovo's statehood. It constituted the backbone of Ahtisaari’s final status settlement proposal, internalized within the constitution and institutional structure. Linguistic, cultural, educational, and political rights are granted by the constitution and laws referring to minorities. However, despite the legal and institutional foundations of minority rights, on the terrain, there seem to be still challenges in implementing and enjoying those rights by minorities. Thus, the paper aims to look at the extent to which linguistic, cultural, and educational rights are being implemented and enjoyed by minorities, from their establishment up to the present, through exploring a number of research questions. What are the challenges and obstacles to the implementation of those rights? How these challenges are reflected in inclusiveness and interethnic reconciliation? The paper is based on legal documents, statistical data, reports, and studies on minority rights in Kosovo.
Keywords: minority, minority rights, inclusiveness, interethnic relation, Kosovo
UDC: 323.15:342.724(497.115]
JEL code: N40
Pages: 34-42 | Full text (PDF)
DOI: https://doi.org/10.53486/2537-6179.10-2.03
Author: Adrian ISIP
Abstract: Accounting function deals with recording, reporting and advising activities. In general, larger companies do not outsource routine tasks, since they need accounting information for making decisions more often than smaller enterprises, that outsource accounting primarily to fulfil their legal obligations. Digitalization facilitates remote access to data, electronic data exchange, instant communication and automatic data processing. This paper investigates outsourcing of accounting services in digital age considering several collaboration arrangements. We mobilized transaction costs economics and resource-based view as theoretical framework, accounting services market from Romania as context and case study as research method involving 3 accounting firms. Our results indicated that clients’ decisions to insource, outsource or co-source the accounting services depend on the availability of internal and external professionals, their costs, frequency of information need and technology readiness. Accounting process means to receive documents from clients, process data from documents based on the agreed terms, prepare and submit the reports to clients. Technologies like robotic process automation and artificial intelligence ensure faster data processing, accurate information and prompt reactions. Nowadays more large companies could outsource their accounting due to e-invoice system and cloud technology. Having in view the clients’ demands, accounting firms can deliver on-site, hybrid or remote services. Our study has implications for accounting firms and their clients and we presented what opportunities they have in digital age for collaboration. Our contribution was to show that e-invoice system and digital technologies enhance the provision of remote services and accounting firms could also target larger companies as clients.
Keywords: external accountants, accounting activities, outsourcing reasons, digital communication, remote services, task automation, real-time reporting
UDC: [657:005.56]:004.77(498)
JEL Code: M41, M55, O33
Pages: 43-61 | Full text (PDF)
DOI: https://doi.org/10.53486/2537-6179.10-2.04
Author: Dorin VACULOVSCHI
Abstract: The initiation of the transition to a market economy in the Republic of Moldova led to a drastic expansion of poverty. It should be emphasized that against the backdrop of hyperinflation at the beginning of the 90s and the privatization processes of the first years of the transition to the market economy, there was a strong decline in the real income of the population. In the category of people below the poverty line, could be included not only those from vulnerable groups, but also workers from the real and budgetary sector of the national economy, whose only source of income was their salary from employment. Thus, a fairly large economic social group was formed, namely the working poor which continues to exist to this day. On the other hand, the new economic realities led to the diversification of the population's forms of income, a phenomenon that was not characteristic of the socialist economy. This fact led to the spread of other forms of income and to the reduction of the role of the salary in the total income of the population. Against the backdrop of the economic transformations of the 1990s, there was a continuous decline in wages as the main source of income for the population. Consequently, the share of wages in the total disposable income of the population decreased to 37.8% by the year 2000. [13].The decrease in the role of the salary in the formation of the disposable income of the population in favor of other sources of income is a process of fire in the context the transition to the market economy. The population that managed to adapt to the new challenges of the time, successfully overcame the risk of poverty. Some managed to migrate; others started new businesses or engaged in other economic activities. Against this backdrop, social inequality among people intensifies. Unfortunately, the process of forming a class of prosperous business owners or "businesspeople" was only at the beginning, and they represented an extremely small number. Even to this day, a large expansion of the group of employers and businessmens in the Republic of Moldova is not noticeable. According to the Labor Force Survey, of the total employed population, only 3.9% were business owners (or employers) in 2023 [12], which indicates that there are problems in the chapter "entrepreneurial spirit", an indispensable condition for the development of the market economy. When the share of wages in the total income of the population becomes extremely small, a shift may occur in the function of reproducing the labor force from wages to other forms of income that are not directly linked to productive activity, such as non-labor-related activities. There is a strong decrease in occupational indicators, and a degradation of the human potential in the Republic of Moldova, thus undermining the functioning mechanism of the national economy for a longer perspective. In the situation where the salary no longer fulfills its basic economic and social functions, i.e. reproduction, motivation, stimulation of economic growth, the population no longer ties the fulfillment of their needs to work and employment in the labor market of the Republic of Moldova, opting instead for labor markets in other countries where wage conditions and working conditions are more favorable. The compromising of the role of wages in the economic life of the Republic of Moldova has led to the intensification of international labor migration and the degradation of the situation on the labor market, which seriously affects the prospect of economic recovery and sustainable economic development in the coming years.
Keywords: salary, poor workers, employees on the labor market, minimum wage, employment rate, fields of activity.
UDC: 331.2:330.59(478)
JEL Code: J6
Pages: 62-73 | Full text (PDF)
DOI: https://doi.org/10.53486/2537-6179.10-2.06
Author: Roman BAHNARU
Abstract: The article examines the level and challenges of ESG (Environmental, Social, Governance) reporting in the Republic of Moldova, in the context of alignment with European regulations and global sustainability trends. Non-financial and non-standard reporting is mandatory in the Republic of Moldova for public entities with more than 500 employees, while for all other companies the reporting is voluntary. Thus, more and more companies have started to adopt international ESG standards voluntarily, influenced by market trends and the need to remain competitive on international market. The article proposes to analyze companies in the Republic of Moldova in terms of compliance with ESG standards, identifying challenges and opportunities for aligning with existing regulations.The article highlights the benefits of adopting ESG practices for the business environment. The analysis refers to international reporting tools and standards, such as GRI and ESRS, and how they can help increase transparency and strengthen investor confidence. In the context of the article, in provides a unique perspective on the adaptation of ESG by the companies in the context of the circular economy and existing ESG reporting standards. To improve ESG adoption in the Republic of Moldova, the article recommends integrating reporting into business strategies, investing in education and aligning with international standards, which would facilitate access to new opportunities and contribute to the sustainable development of the local economy to be competitive at international level.
Keywords: impact, governance, circularity, ESG, challenges, indicators
UDC: [005.35:504.03]:005.218(478)
JEL Code: M40, F64, F68, Q50
Pages: 74-84 | Full text (PDF)
DOI: https://doi.org/10.53486/2537-6179.10-2.07
Author: Serghei PETIGHIN
Abstract: This paper investigates the importance of Environmental, Social, and Governance (ESG) factors in investment policy during the COVID-19 pandemic and their contribution to long-term resilience and sustainability. By conducting a comprehensive literature review based on peer-reviewed articles, financial institution reports, and government policies, this study examines the financial resilience of ESG-oriented investments during the pandemic, the integration of ESG factors in investment policy, and post-pandemic trends in ESG investing. The paper also explores the role of ESG factors in fostering long-term resilience and sustainability and discusses challenges and opportunities for ESG investing during and after the pandemic. The findings suggest that ESG-oriented investments demonstrated financial resilience during the pandemic, and incorporating ESG factors in investment policy allowed investors to manage portfolio risk better. The growing interest in ESG investing will likely continue in the post-pandemic era, driven by the development of ESG-focused investment products, regulatory support, and greater collaboration between investors and companies. However, data quality, consistency, and greenwashing challenges must be addressed to ensure the integrity and effectiveness of ESG investing in the future. Further research is recommended to deepen our understanding of ESG investing and its potential to contribute to a more resilient and sustainable global economy.
Keywords: ESG investing, pandemic resilience, investment policy.
UDC: [005.21:330.322+504.03]:614.4
JEL Code: G11, G23, Q56
Pages: 85-96 | Full text (PDF)
DOI: https://doi.org/10.53486/2537-6179.10-2.08
Author: Ekrem TUFAN
Abstract: Health sector workers continuously provide services globally, regardless of their professional challenges. Such as the struggle against discrimination and racism. In this study, the existence of discrimination/racism against healthcare professionals was examined using the examples of Romania and Serbia. In the study, the MetaHuman Artificial Intelligence Program was used. As a result, it has been observed that there is no racism, however discrimination against atheist doctors in every country exists regarding religious beliefs. A further discovery is that survey participants from all countries favored the macho or the most beautiful doctor. Countries' decision-makers in education should ensure that extra information on this subject is added to education programs to prevent discrimination and/or racism. This research will extend to search discrimination view differences in the health sector between the Turkish minority in Germany and Turks living in Türkiye.
Key words: Health sector, Discrimination, Romania, Serbia, Artificial Intelligence, MetaHuman
UDC: [331.101.24+342.724]:614.253(497.11+498)
JEL Code: I10, I12, I14
Pages: 97-126 | Full text (PDF)