international finance and banking conference fi ba … · (centrul de cercetări financiar-monetare...

INTERNATIONAL FINANCE AND

BANKING CONFERENCE FI BA 2019

(XVII edition)

March 28-29, 2019, Bucharest, Romania

PROGRAM

INFER supported event

Organized by

FACULTY OF FINANCE AND BANKING from Bucharest University of Economic Studies

in collaboration with

SIF BANAT-CRISANA

Romanian Association of Banks

European Banking Institute (EBI)

Romanian Association of Finance and Banking – RoFIBA (Asociatia Romana de Finante - Banci –RoFIBA)

Finance Doctoral School

Center of Financial and Monetary Research (CEFIMO) (Centrul de Cercetări Financiar-Monetare CEFIMO)

www.fabbv.ase.ro

FACULTY OF FINANCE

AND BANKING

Special thanks

The International Finance and Banking Conference FI BA 2019 has benefited from the financial

support of SIF Banat-Crişana, and Romanian Association of Banks. Also, this conference is accepted as

an INFER supported event.

The conference activities were possible to take place given the support, implication, scientific

contributions and enthusiastic emulation of the following entities and persons that the Organizing

Committee FI BA 2019 would like to express its full gratitude:

National Bank of Romania;

SIF Banat-Crişana;

Romanian Association of Banks;

European Banking Institute (EBI);

invited keynote speakers: Professor Juana Pulgar Ezquerra, PhD. (Complutense University of

Madrid), Professor Jaap Spronk, PhD. (University of Curacao, Emeritus Professor at Erasmus

University Rotterdam, and Erasmus School of Economics (NEH) & Rotterdam School of

Management (RSM)); Ruxandra Avram (Director, Financial Market Infrastructures and

Payments Oversight Department, the National Bank of Romania); Rodica Tuchilă (Executive

Director, Romanian Association of Banks); Senior assistant professor David Ramos Muñoz,

PhD. (Universities of Bologna and Carlos III Madrid);

Professor Nicolae Istudor, PhD. - Rector of the Bucharest University of Economic Studies;

Directors and academic community of the two departments of the Faculty of Finance and

Banking;

Students;

Administrative departments of the Bucharest University of Economic Studies;

Romanian Association of Finance and Banking – RoFIBA.

A special distinguished thanks to all the participants from Romania and abroad that accepted our

invitation and contributed to the success of this scientific event.

Thursday, 28 March 2019

08.30 – 09.00 Registration

Location: Conference registration desk is open in front of the room 3M III, Bucharest University of Economic Studies (“Paul Bran” building)

Address: Mihail Moxa 5-7, District 1, Bucharest, 1st floor

09.00 – 10.30 PLENARY SESSION Location: Room 3M III

Session Chair: Associate Professor Ionela COSTICĂ, PhD. – Dean of the Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Welcome speech

Professor Nicolae ISTUDOR, PhD. – Rector of the Bucharest University of Economic Studies, Romania

Keynote speakers

The European banking resolution mechanism: challenges

Professor Juana PULGAR EZQUERRA, PhD. – Complutense University of Madrid, Spain

Structuring financial decisions in the dynamic network society

Professor Jaap SPRONK, PhD. – University of Curacao, Emeritus Professor at Erasmus University Rotterdam, and Erasmus School of Economics (NEH) & Rotterdam School of Management (RSM), Netherlands

Questions & Answers

10.30 – 10.45 Coffee break Location: near the room 3M III

10.45 – 13.00 Joint session on

FinTech perspectives

Location: Room 3M III

Keynote speakers

Ruxandra AVRAM – Director, Financial Market Infrastructures and Payments Oversight Department, the National Bank of Romania, Romania

Rodica TUCHILĂ – Executive Director, Romanian Association of Banks, Romania

Session Chair Senior assistant professor David RAMOS MUÑOZ, PhD. – Universities of Bologna and Carlos III Madrid, Italy

Questions & Answers

09.00 – 10.30 Plenary Session

Location: Room 3M III, Bucharest University of Economic Studies (“Paul Bran” building)

Address: Mihail Moxa 5-7, District 1, Bucharest, 1st floor, room 3M III

10.30 – 10.45 Coffee break Location: Room 3M III

Address: Mihail Moxa 5-7, District 1, Bucharest, 1st floor, room 3M III

10.45 – 13.00 Joint session on FinTech perspectives Location: Room 3M III

13.00 – 14.30 Lunch

Location: Cafeteria located in the Moxa Complex

Address: Mihail Moxa Street no. 3, District 1, Bucharest

15.00 – 18.30 Parallel Sessions Location: “Paul Bran” building (Moxa)

Address: Mihail Moxa Street no. 5-7, District 1, Bucharest

19.00 – 21.00 Dinner Location: Bistro La Taifas

Address: Mihail Moxa 12, District 1, Bucharest

Friday, 29 March 2019

12.30 – 13.00 Best Paper Award Location: Room 3209

13.00 – 14.30 Lunch

Session 1 Location: Department of Finance

15.00 – 18.30 Insurance Room 3109

Session Chair:

Associate Professor Paul TĂNĂSESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Assistant Professor Cosmin Octavian CEPOI, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Secretary: Aurora Elena DINA (MANOLACHE), PhD. Student – Bucharest University of Economic Studies, Romania

1. Effects of country-specific determinants on the size of life insurance market: new evidence from OECD countries based on panel quantile regression approach

Discussant: Presenter of paper no. 2

Professor Ingrid-Mihaela DRAGOTĂ, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Assistant Professor Cosmin Octavian CEPOI, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

2. The pension formula in Romania – inefficiencies and possible solutions

Associate Professor Bogdan-Andrei DUMITRESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Andreea Elena DRĂGHIA, PhD. Student – Bucharest University of Economic Studies, Romania

3. International solutions for management of natural catastrophes risks

Associate Professor Laura-Elly NAGHI, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Nicoleta RADU, PhD. Student – Bucharest University of Economic Studies, PAID Romania

4. Solvency capital requirements for a Romanian non-life insurer under Solvency II and Risk-Based Capital frameworks

Aurora Elena DINA (MANOLACHE) , PhD. Student – Bucharest University of Economic Studies, Romania

5. The effects of Solvency II on the Romanian insurance market

Costin Andrei ISTRATE, PhD. Student – Bucharest University of Economic Studies, Romania

6. Bancassurance between MiFID II and IDD

Elda MARZAI (ABLIZ), PhD. Student – Bucharest University of Economic Studies, Romania

7. Romanian policy of health

Associate Professor Paul TĂNĂSESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

15.00 – 18.30 Session 2

Corporate finance and investments Location: Department of Finance

Room 3110

Session Chair: Professor Victor DRAGOTĂ, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania Lecturer Agnieszka BEM, PhD. – Department of Corporate Finance and Public Finance, Wrocław University of Economics, Poland

Secretary: Hanaan YASEEN, PhD. Student – Bucharest University of Economic Studies, PAID Romania

1. Does the world need an international investment organization to battle climate change?

Professor Hilmar Þór HILMARSSON, PhD. – School of Business and Science, University of Akureyri, Iceland

2. Determinants of hospital’s financial distress Discussant: Presenter of paper no. 4

Lecturer Agnieszka BEM, PhD. – Department of Corporate Finance and Public Finance, Wrocław University of Economics, Poland Lecturer Rafał SIEDLECKI, PhD. –Department of Corporate Finance and Public Finance, Wrocław University of Economics, Poland Lecturer Paweł PRĘDKIEWICZ, PhD. –Department of Finance, Wrocław University of Economics, Poland Lecturer Paulina UCIEKLAK-JEŻ, PhD. –Faculty of Philology and History, Jan Dlugosz University in Czestochowa, Poland

3. Quality of governance institutions and entrepreneurial activity: an empirical assessment for EU countries

Discussant: Lecturer Liliana SIMIONESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Professor Ovidiu STOICA, PhD. – Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi, Romania Scientific Researcher Valentina Diana RUSU, PhD. – Institute of Interdisciplinary Research, Social Sciences and Humanities Research Department, “Alexandru Ioan Cuza” University of Iasi, Romania Professor Angela ROMAN, PhD. – Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi, Romania

4. The exit behavior of private equity firms in Eastern Europe: an empirical analysis of the main exit strategies

Mihai PRECUP, PhD. Student – University of Paris 1: Panthéon-Sorbonne, France, and Managing Director at the Progressio Capital Partners, Luxembourg

5. Egalitarianism, hierarchy, and dividend policy Discussant: Presenter of paper no. 3

Professor Victor DRAGOTĂ, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

6. Identification of the inter-relationships between the strategic sectors of the company

Dragoş BÎLTEANU, PhD. Student – Bucharest University of Economic Studies, Romania Lecturer Florentina Olivia BĂLU, PhD. – Institute of Management, University of Geneva, Switzerland

7. Defining the concept of risk applied in entrepreneurship. Conceptual delimitation risk - entrepreneurial uncertainty

Andrei Alexandru TĂRĂBÎC, PhD. Student – West University of Timişoara, Romania Gabriel MORAR, PhD. Student – West University of Timişoara, Romania

8. Classical factors still influence significantly the dividend policy. An international evidence

Hanaan YASEEN, PhD. Student – Bucharest University of Economic Studies, Romania

15.00 – 18.30 Session 3

Public finance

Location: Department of Finance

Room 3108

Session Chair:

Professor Kamilla MARCHEWKA-BARTKOWIAK, PhD. – Poznan Department of Monetary Policy and Financial Markets, University of Economics and Business, Poland

Lecturer Ştefan Cristian GHERGHINA, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Secretary: Radu Alin PĂUNESCU, PhD. – University of Economic Studies, Bucharest, Romania

1. Revenues of the EU ETS auctioning and their impact on budgetary allocation - the case of Poland

Lecturer Klaudia JARNO, PhD. – Poznan Department of Monetary Policy and Financial Markets, University of Economics and Business, Poland

Professor Kamilla MARCHEWKA-BARTKOWIAK, PhD. – Department of Monetary Policy and Financial Markets, Poznan University of Economics and Business, Poland

2. A panel data approach towards the drivers of effective corporate tax rate. Empirical evidence on emerging European countries

Professor Georgeta VINTILĂ, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Lecturer Ştefan Cristian GHERGHINA, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Radu Alin PĂUNESCU, PhD. – University of Economic Studies, Bucharest, Romania

3. Public sector performance orientation: relevant areas that influence the performance level

Professor Petru ȘTEFEA, PhD. –Faculty of Economics and Business Administration, Management Department, West University of Timișoara, Romania

Alexandru BOCIU, PhD. Student – West University of Timișoara, Romania

Associate Professor Andrei PELIN, PhD. –Faculty of Economics and Business Administration, Management Department, West University of Timișoara, Romania

Associate Professor Oana-Ramona LOBONȚ, PhD. Habil. – Faculty of Economics and Business Administration, Finance Department, West University of Timișoara, Romania

4. The benefits and downsides of measuring public sector performance nowadays

Lavinia Daniela MIHIȚ, Ph.D. Student – West University of Timișoara, Romania

Professor Nicoleta Claudia MOLDOVAN, PhD. Habil. – Faculty of Economics and Business Administration, Finance Department, West University of Timișoara, Romania

Associate Professor Oana-Ramona LOBONȚ, PhD. Habil. – Faculty of Economics and Business Administration, Finance Department, West University of Timișoara, Romania

5. Military expenditures relevance for economic development: evidence for EU countries

PhD Stud. Oana Ramona GLONT, Ph.D. Student – West University of Timișoara, Romania

Associate Professor Iulia PARA, PhD. –Faculty of Economics and Business Administration, West University of Timișoara, Romania

6. How a flat tax rate can generate too much progressivity

Associate Professor Lucian ŢÂŢU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Associate Professor Nicoleta VINTILĂ, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Professor Andreea STOIAN, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Associate Professor Emilian MIRICESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

7. Effects of changing the balancing formula of Romanian local budgets

Associate Professor Attila GYÖRGY, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

15.00 – 18.30 Session 4

Financial markets and institutions Location: Department of Money and

Banking Room 3207

Session Chair:

Lecturer Filip IORGULESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania Assistant Professor Faruk DAYI, PhD. – Department of Business Administration, Kastamonu University, Turkey

Secretary: Cristina GANJA, PhD. Student – Babes-Bolyai University, Romania

1. Modeling fractional cointegration between high and low stock prices in Asian countries

Alia AFZAL, PhD. Student – Institute of Statistics, Faculty of Economics and Management, Leibniz University Hannover, Germany Professor Philipp SIBBERTSEN, PhD. – Institute of Statistics, Faculty of Economics and Management, Leibniz University Hannover, Germany

2. Fiscal policy and stock market efficiency: What can be learned from a European stock market

Professor Andreea STOIAN, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Lecturer Filip IORGULESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

3.Genetic diversity and stock price informativeness

Daiana Florina PETRESCU, PhD. Student – Babes-Bolyai University, Romania Professor Alexandru TODEA, PhD. – Faculty of Economics and Business Administration, Babes-Bolyai University, Romania

4. Comparing airlines firms’ value in terms of activity ratios

Assistant Professor Faruk DAYI, PhD. – Department of Business Administration, Kastamonu University, Turkey

Associate Professor Tolga ULUSOY, PhD. – Department of Banking and Finance, Kastamonu University, Turkey

5. Market-level sports sentiment: the case of the Romanian frontier stock market

Assistant Professor Dan Gabriel ANGHEL, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

6. Impact of Romanian fiscal regulation on the evolution of BVB indexes

Associate Professor Laura-Elly NAGHI, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Adina Alexandra DARMAZ-GUZUN, PhD. Student – West University of Timișoara, Romania

7. Inherent inefficiencies of the financial system in Romania

Lecturer Andrei STĂNCULESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

15.00 – 18.30 Session 5

Banking Location: Department of Money and

Banking Room 3209

Session Chair:

Assistant Lecturer Arndt-Gerrit KUND, PhD. Student – Department of Bank Management, University of Cologne, Germany Associate Professor Dan Costin NIŢESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Secretary: Adriana Daniela CIUREL, PhD. Student – Bucharest University of Economic Studies, Romania

1. An analysis of Dubai’s banking sector performance: Are foreign banks more efficient than domestic banks?

Research Student Haifa ALHAMDANI, PhD. – School of Economics, University of East Anglia, United Kingdom

2. Assessing the implications of IFRS 9 on financial stability using bank stress tests

Assistant Lecturer Arndt-Gerrit KUND, PhD. Student – Department of Bank Management, University of Cologne, Germany Research associate Daniel RUGILO, PhD. Student – Department of Financial Accounting and Auditing, University of Cologne, Germany

3. The impact of central bank independence on systemic risk contribution. Evidence from a global sample of banks

Professor Alin ANDRIEŞ, PhD. – Faculty of Economics and Business Administration, “Alexandru Ioan Cuza” University of Iaşi, Romania Nicu SPRÎNCEAN, PhD. Student – “Alexandru Ioan Cuza” University of Iaşi, Romania

4. Increasing profitability through contingent convertible capital. Empirical evidence from European banks

Research associate Matthias PETRAS, PhD. Student – Department of Bank Management, University of Cologne, Germany

5. Leading the Fintech investments: an empirical country analysis

Professor Marilen PIRTEA, PhD. – Faculty of Economics and Business Administration, West University of Timișoara, Romania

Lecturer Claudiu BOŢOC, PhD. –Faculty of Economics and Business Administration, West University of Timișoara, Romania

Alexandru BOCIU, PhD. Student – West University of Timișoara, Romania

6. Negative interest rates, bank profitability and

risk-taking

Discussant: Associate Professor Iustina BOITAN, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Whelsy BOUNGOU, PhD. Student – LAREFI, Department of Economics, University of Bordeaux, France

7. Banking sector and bank liquidity – key actors

within financial crises?

Associate Professor Dan Costin NIŢESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania Florin Alexandru DUNĂ PhD. Student – Bucharest University of Economic Studies, Romania

Adriana Daniela CIUREL, PhD. Student –Bucharest University of Economic Studies, Romania

19.00 – 21.00 Dinner Location: Bistro La Taifas

Address: Mihail Moxa 12, District 1, Bucharest

Friday, 29 March 2019

13.00 – 14.30 Lunch

09.00 – 12.30 Session 1

Corporate finance and investments Location: Department of Finance

Room 3110

Session Chair: Associate Professor Ana-Cristina NICOLESCU, PhD. Habil. – Faculty of Economics and Business Administration, Finance Department, West University of Timișoara, Romania Lecturer Rafał SIEDLECKI, PhD. –Department of Corporate Finance and Public Finance, Wrocław University of Economics, Poland

Secretary: Rodica BACIU, PhD. Student – University of Economic Studies, Bucharest, Romania

1. Revisiting firm value determinants: US firms` analysis

Associate Professor Ana-Cristina NICOLESCU, PhD. Habil. – Faculty of Economics and Business Administration, Finance Department, West University of Timișoara, Romania Lecturer Sorana VĂTAVU, PhD. – Faculty of Economics and Business Administration, Finance Department, West University of Timișoara, Romania

2. Does social progress explain the dividend payout decision?

Hanaan YASEEN, PhD. Student – Bucharest University of Economic Studies, Romania

3. Non-profit hospitals valuation. Community benefit-based approach Discussant: Presenter of paper no. 1

Lecturer Rafał SIEDLECKI, PhD. –Department of Corporate Finance and Public Finance, Wrocław University of Economics, Poland Lecturer Agnieszka BEM, PhD. – Department of Corporate Finance and Public Finance, Wrocław University of Economics, Poland Lecturer Paweł PRĘDKIEWICZ, PhD. –Department of Finance, Wrocław University of Economics, Poland

4. The role of CEO background in explaining executive compensation. A study of U.S. listed firms

Professor Cosmin ENACHE, PhD. – Faculty of Economics and Business Administration, West University of Timișoara, Romania Associate Professor Sorin Gabriel ANTON, PhD. – Faculty of Economics and Business Administration, “Alexandru Ioan Cuza” University of Iaşi, Romania

5. Effect of liquidity on liabilities: an application in automotive companies

Assistant Professor Faruk DAYI, PhD. – Department of Business Administration, Kastamonu University, Turkey Lecturer Resit CETINKAYA, PhD. – Department of Business Administration, Kastamonu University, Turkey

6. The impact of bank credit on financial structure and financial return for the Romanian companies active in car parts distribution

Rodica BACIU, PhD. Student – University of Economic Studies, Bucharest, Romania Professor Petre BREZEANU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania Lecturer Adrian ŞIMON, PhD. – “Petru Maior” University, Romania

7. A discussion on basic investment alternatives Discussant: Presenter of paper no. 2

Lecturer Andrei STĂNCULESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

09.00 – 12.30 Session 2

Public finance

Location: Department of Finance

Room 3108

Session Chair:

Associate Professor Bogdan Florin FILIP, PhD. – Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi, Romania

Nicolae-Bogdan IANC, PhD. Student in international cotutelle – Laboratoire d'Economie d'Orléans (LEO) from Université d'Orléans, and West University of Timișoara, Romania

Secretary: Carmen PIRVAN, PhD. Student – Bucharest University of Economic Studies, Romania

1. Determinants of public debt. The case of the European Union countries

Discussant: Professor Kamilla MARCHEWKA-BARTKOWIAK, PhD. – Department of Monetary Policy and Financial Markets, Poznan University of Economics and Business, Poland

Associate Professor Bogdan Florin FILIP, PhD. – Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi, Romania

2. How can culture affect taxation? Evidences from both advanced and developing countries

Nicolae-Bogdan IANC, PhD. Student in international cotutelle – Laboratoire d'Economie d'Orléans (LEO) from Université d'Orléans, and West University of Timișoara, Romania

3. The relationship between income inequalities and economic growth – new evidence

Milena KOWALSKA, PhD. Student – Wrocław University of Economics, Poland

4. Influence of public policies indicators upon

entrepreneurial activity

Alina Ioana CALINOVICI, PhD. Student – West University of Timișoara, Romania

Economist Florin COSTEA – Head of Finance Hella Romania

5. Poverty and inequality as predictors of corruption

Carmen PIRVAN, PhD. Student – Bucharest University of Economic Studies, Romania

Professor Ileana NIŞULESCU- ASHRAFZADE, PhD. – Faculty of Accounting and Management Information Systems, Bucharest University of Economic Studies, Romania

6. Economic growth and impact of social and economic factors in the Baltic States

Cosmina-Ștefania CHIRICU, PhD. Student – Bucharest University of Economic Studies, Romania

7. Testing the incidence of social inclusion on sustainable development

Associate Professor Iustina BOITAN, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Professor Emilia CÂMPEANU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

09.00 – 12.30 Session 3

Financial markets and institutions

Location: Department of Money and Banking

Room 3207

Session Chair:

Associate Professor Andreea CURMEI-SEMENESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Lecturer Dan LUPU, PhD. – Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi, Romania

Secretary: Ruxandra TRIFAN, PhD. Student – University of Economic Studies, Bucharest, Romania

1. Can good corporate governance limit bank performance fluctuations in unstable economic environment?

Associate Professor Andreea CURMEI-SEMENESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Assistant Professor Dragoş Ştefan OPREA, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Associate Professor Cătălin CURMEI, PhD. – Faculty of Business Administration (in Foreign Languages), Bucharest University of Economic Studies, Romania

2. Integration impact on stock price informativeness

Ligia IACOBESCU, PhD. Student – Babes-Bolyai University, Romania

3. Corporate Social Responsibility and environmental metrics for companies listed Bucharest Stock Exchange

Lecturer Liliana SIMIONESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

Professor Dalina DUMITRESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

4. The liquidity premium: evidence from the Polish stock market

Cristina GANJA, PhD. Student – Babes-Bolyai University, Romania

5. Business cycles synchronization in CEE countries: evidence from wavelet analysis

Lecturer Dan LUPU, PhD. – Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi, Romania

DUMITRU NICUŞOR CĂRĂUŞU, PhD. Student – "Alexandru Ioan Cuza" University of Iaşi, Romania

6. The financial performance analysis of the listed companies from oil sector. A comparative analysis

Associate Professor Meral KAGITCI, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

7. The impact of dividend events on stock returns: Preliminary findings on companies listed on the Bucharest Stock Exchange

Ruxandra TRIFAN, PhD. Student – University of Economic Studies, Bucharest, Romania

8. Bioeconomy and bioeconomics: are they the same thing?

Assistant Professor Elena Valentina ȚILICĂ, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies, Romania

09.00 – 12.30 Session 4

Banking

Location: Department of Money and Banking

Room 3209

Session Chair:

Alina ZAHARIA, PhD. Student – Bucharest University of Economic Studies, Romania

Secretary: Maria Alexandra CRISTEA, PhD. Student – Bucharest University of Economic Studies, Romania

1. The Nordic-Baltic region: European integration and security concerns

2.The nexus between macroprudential policy and credit growth

Professor Alin ANDRIEŞ, PhD. – Faculty of Economics and Business Administration, “Alexandru Ioan Cuza” University of Iaşi, Romania

Researcher Florentina MELNIC, PhD. Student – “Alexandru Ioan Cuza” University of Iaşi, Romania

3. Credit risk in Algerian public banks: Exploratory study

Fatima Zohra MAROUF, PhD. Student – Warocqué School of Economics and Management, University of Mons, Belgium

4. Using Data Mining methods to solve classification problems in financial-banking institutions

Oona VOICAN, PhD. Student – Bucharest University of Economic Studies, Romania

5. The competition between traditional power centers and emerging powers

Ștefan Cătălin TOPLICEANU, PhD. Student – “Alexandru Ioan Cuza” University of Iaşi, Romania

6.Lending evolution in Romania from the perspective of Prudential Regulations or how can the banking system be helped by financial crisis

Maria Alexandra CRISTEA, PhD. Student – Bucharest University of Economic Studies, Romania

7. Uncovering the dynamic relationship between credit and economic growth in Romania

Matei KUBINSCHI, PhD. Student – Bucharest University of Economic Studies, Romania Alina ZAHARIA, PhD. Student – Bucharest University of Economic Studies, Romania

13.00 – 14.30 Lunch

Important remarks for the participants!

For each section of the International Finance and Banking Conference FI BA 2019

are allocated 30 minutes/paper, as follow:

- 15 minutes for the paper presentation;

- 10 minutes for the discussant presentation;

- 5 minutes for questions and answers.

There may be changes in order of presentation that will be notified properly.

Sessions

15.00-18.30

Session 1 Insurance

Session 2 Corporate finance and investments

Session 3 Public finance

Session 4 Financial markets and institutions

Session 5 Banking

1. Effects of country-specific determinants on the size of life

insurance market: new evidence from OECD countries based on

panel quantile regression approach

1. Does the world need an international investment

organization to battle climate change?

1. Revenues of the EU ETS auctioning and their impact on budgetary allocation - the case of Poland

1. Modeling fractional cointegration between high and low stock prices in

Asian countries

1. An analysis of Dubai’s banking sector performance: Are foreign banks

more efficient than domestic banks?

2. The pension formula in Romania – inefficiencies and possible

solutions

2. Determinants of hospital’s financial distress

2. A panel data approach towards the drivers of effective corporate tax rate.

Empirical evidence on emerging European countries

2. Fiscal policy and stock market efficiency: What can be learned from

a European stock market

2. Assessing the implications of IFRS 9 on financial stability using bank stress

3. International solutions for management of natural

catastrophes risks

3. Quality of governance institutions and entrepreneurial activity: an

empirical assessment for EU countries

3. Public sector performance orientation: relevant areas that influence the performance level

3.Genetic diversity and stock price informativeness

3. The impact of central bank independence on systemic risk

contribution. Evidence from a global sample of banks

4. Solvency capital requirements for a Romanian non-life insurer

under Solvency II and Risk-Based Capital frameworks

4. The exit behavior of private equity firms in Eastern Europe: an empirical

analysis of the main exit strategies

4. The benefits and downsides of measuring public sector performance

nowadays

4. Comparing airlines firms’ value in terms of activity ratios

4. Increasing profitability through contingent convertible capital.

Empirical evidence from European banks

5. The effects of Solvency II on the Romanian insurance market

5. Egalitarianism, hierarchy, and dividend policy

5. Military expenditures relevance for economic development: evidence for EU

countries

5. Market-level sports sentiment: the case of the Romanian frontier stock

market

6. Bancassurance between MiFID II and IDD

6. Identification of the inter-relationships between the strategic

sectors of the company

6. How a flat tax rate can generate too much progressivity

6. Impact of Romanian fiscal regulation on the evolution of BVB

indexes

6. Negative interest rates, bank profitability and risk-taking

7. Romanian policy of health

7. Defining the concept of risk applied in entrepreneurship. Conceptual

delimitation risk - entrepreneurial uncertainty 7. Effects of changing the balancing

formula of Romanian local budgets 7. Inherent inefficiencies of the

financial system in Romania

7. Banking sector and bank liquidity – key actors within financial crises?

8. Classical factors still influence significantly the dividend policy. An

international evidence

19.00-21.00 DINNER

Friday, 29 March

09.00-12.30

Session 1 Corporate finance and investments

Session 2 Public finance

Session 3 Financial markets and institutions

Session 4 Banking

1. Revisiting firm value determinants: US firms` analysis

1. Determinants of public debt. The case of the European Union countries

1. Can good corporate governance limit bank performance fluctuations in unstable economic

environment?

1. The Nordic-Baltic region: European integration and security concerns

2. Does social progress explain the dividend payout decision?

2. How can culture affect taxation? Evidences from both advanced and developing countries

2. Integration impact on stock price informativeness

2.The nexus between macroprudential policy and credit growth

3. Non-profit hospitals valuation. Community benefit-based approach

3. The relationship between income inequalities and economic growth – new

evidence

3. Corporate Social Responsibility and environmental metrics for companies listed

Bucharest Stock Exchange

3. Credit risk in Algerian public banks: Exploratory study

4. The role of CEO background in explaining executive compensation. A study of U.S. listed

4. Influence of public policies indicators upon entrepreneurial activity

4. The liquidity premium: evidence from the Polish stock market

4. Using Data Mining methods to solve classification problems in financial-banking

institutions

5. Poverty and inequality as predictors of corruption

5. Business cycles synchronization in CEE countries: evidence from wavelet analysis

5. The competition between traditional power centers and emerging powers

6. Negative interest rates, bank profitability and

risk-taking 6. Economic growth and impact of social and

economic factors in the Baltic States 6. The financial performance analysis of the listed companies from oil sector. A comparative analysis

6.Lending evolution in Romania from the perspective of Prudential Regulations or how

can the banking system be helped by financial crisis

7. Banking sector and bank liquidity – key actors within financial crises?

7. Testing the incidence of social inclusion on sustainable development

7. The impact of dividend events on stock returns: Preliminary findings on companies listed on the

Bucharest Stock Exchange 7. Uncovering the dynamic relationship between credit and economic growth in

Romania 8. Bioeconomy and bioeconomics: are they the same thing?

12.30 – 13.00 BEST PAPER AWARD

13.00 – 14.30 LUNCH

Organizing committee

Members of the Organizing Committee

Bogdan Alexandru DRĂGOI – Chairman & CEO, SIF Banat – Crisana, Romania

Professor Ion STANCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Emilia CÂMPEANU, PhD. – Vice–Dean of Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Dalina DUMITRESCU, PhD. – Vice-Rector of Bucharest University of Economic Studies, Faculty of Finance and Banking

Professor Andreea STOIAN, PhD. – Head of Center of Financial and Monetary Research (CEFIMO), Faculty of Finance and Banking, Bucharest University of Economic Studies

Associate Professor Ionela COSTICĂ, PhD. – Dean of Faculty of Finance and Banking, Bucharest University of Economic Studies

Associate Professor Iustina BOITAN, PhD. – Vice–Dean of Faculty of Finance and Banking, Bucharest University of Economic Studies

Associate Professor Georgiana CREŢAN, PhD. – Vice–Dean of Faculty of Finance and Banking, Bucharest University of Economic Studies

Associate Professor Rodica GHERGHINA, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies

Lecturer Radu CIOBANU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies

Lecturer Liliana SIMIONESCU, PhD. – Faculty of Finance and Banking, Bucharest University of Economic Studies

Scientific committee

Professor Gabriela ANGHELACHE, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Dumitru BADEA, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Emilia CÂMPEANU, PhD. – Vice-Dean of Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Victor DRAGOTĂ PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Dalina DUMITRESCU, PhD. - Vice-Rector of the Bucharest University of Economic Studies, Faculty of Finance and Banking

Professor Nicolae ISTUDOR, PhD. - Rector of Bucharest University of Economic Studies

Professor Kamilla MARCHEWKA-BARTKOWIAK, Dr HAB - Dean of the Faculty of Economics, Poznan University of Economics and Business

Professor Alexandru MINEA, PhD. - Universitatea d’Auvergne

Professor Ciprian NECULA, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Bogdan NEGREA, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Dorel Mihai PARASCHIV, PhD. - Vice-rector of Bucharest University of Economic Studies

Professor Gheorghe RUXANDA, PhD. - Faculty of Economic Cybernetics, Statistics and Informatics, Bucharest University of Economic Studies

Professor Ion STANCU, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Andreea STOIAN, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Georgeta VINTILĂ, PhD. - Director of the Finance Doctoral School, Faculty of Finance and Banking, Bucharest University of Economic Studies

Professor Paul WACHTEL, PhD. - New York University

Associate Professor Florina Cristina BADARAU, PhD. - University of Bordeaux

Associate professor Alberto BAGNAI, PhD. - University of Pescara

Associate Professor Iustina BOITAN, PhD. - Vice-Dean of Faculty of Finance and Banking, Bucharest University of Economic Studies

Associate Professor Lucian ŢÂŢU, PhD. - Head of Department of Financ Faculty of Finance and Banking, Bucharest University of Economic Studies

Assistant Professor Pedro CERQUEIRA, PhD. - University of Coimbra

Associate Professor Ionela COSTICĂ, PhD. – Dean of Faculty of Finance and Banking, Bucharest University of Economic Studies

Associate Professor Georgiana CREŢAN, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Associate Professor Rodica GHERGHINA, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Associate Professor Paul TĂNĂSESCU, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Associate Professor Camelia TURCU, PhD. - University of Orléans

Lecturer David DUFFY, PhD. - University of Ulster

Lecturer Dan Costin NIŢESCU, PhD. - Faculty of Finance and Banking, Bucharest University of Economic Studies

Dr. Christian OBERST, PhD. - University of Aachen

List of the Participants

Name Affiliation Country E-mail address

28 March 2019

Plenary Session

Professor Nicolae ISTUDOR, PhD. Rector of the Bucharest University of Economic Studies, Romania

Romania rectorat@ase.ro

Professor Juana PULGAR EZQUERRA, PhD.

Complutense University of Madrid

Spain pulgarjuana@gmail.com

Professor Jaap SPRONK, PhD. University of Curacao, Emeritus Professor at Erasmus University Rotterdam, and Erasmus School of Economics (NEH) & Rotterdam School of Management (RSM),

Netherlands jspronk@rsm.nl

Ruxandra AVRAM Director, Financial Market Infrastructures and Payments Oversight Department, the National Bank of Romania

Romania ruxandra.avram@bnro.ro

Rodica TUCHILĂ Executive Director, Romanian Association of Banks

Romania rodica.tuchila@arb.ro

Senior Lecturer David RAMOS MUÑOZ, PhD.

Universities of Bologna and Carlos III Madrid

Italy david.ramosmunoz@unibo.it

Associate Professor Ionela COSTICĂ, PhD.

Dean of the Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania ionela.costica@fin.ase.ro

Session 1 – 28 March, 2019

Insurance

Professor Ingrid-Mihaela DRAGOTĂ, PhD.

Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania mihaela.dragota@fin.ase.ro

Assistant Professor Cosmin Octavian CEPOI, PhD.

Romania cosmin.cepoi@fin.ase.ro

Associate Professor Bogdan-Andrei DUMITRESCU, PhD.

Romania bogdan.dumitrescu@fin.ase.ro

Andreea Elena DRĂGHIA, PhD. Student Bucharest University of Economic Studies

Romania draghia.andreea@yahoo.com

Associate Professor Laura-Elly NAGHI, PhD.

Romania laura.novac@fin.ase.ro

Nicoleta RADU, PhD. Student Bucharest University of Economic Studies

Romania

Aurora Elena DINA (MANOLACHE), PhD. Student

Bucharest University of Economic Studies

Romania aurora_dina86@yahoo.com

Costin Andrei ISTRATE, PhD. Student Bucharest University of Economic Studies

Romania costinandrei.istrate@gmail.com

Elda MARZAI (ABLIZ), PhD. Student Bucharest University of Economic Studies

Romania elda.abliz@yahoo.com

Associate Professor Paul TĂNĂSESCU, PhD.

Romania paul.tanasescu@fin.ase.ro

Corporate finance and investments

Professor Hilmar Þór HILMARSSON, PhD.

School of Business and Science, University of Akureyri

Iceland hilmar@unak.is

Lecturer Agnieszka BEM, PhD. Department of Corporate Finance and Public Finance, Wrocław University of Economics

Poland agnieszka.bem@ue.wroc.pl

Lecturer Rafał SIEDLECKI, PhD. Department of Corporate Finance and Public Finance, Wrocław University of Economics

Poland rafal.siedlecki@ue.wroc.pl

Lecturer Paweł PRĘDKIEWICZ, PhD. Department of Finance, Wrocław University of Economics

Poland pawel.predkiewicz@ue.wroc.pl

Lecturer Paulina UCIEKLAK-JEŻ, PhD. Faculty of Philology and History, Jan Dlugosz University in Czestochowa

Poland p.ucieklak-jez@ujd.edu.pl

Professor Ovidiu STOICA, PhD. Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi

Romania ostoica@uaic.ro

Scientific Researcher Valentina Diana RUSU, PhD.

Institute of Interdisciplinary Research, Social Sciences and Humanities Research Department, “Alexandru Ioan Cuza” University of Iasi

Romania valentinadiana.ig@gmail.com

Professor Angela ROMAN, PhD. Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi

Romania aboariu@uaic.ro

Mihai PRECUP, PhD. Student – University of Paris 1: Panthéon-Sorbonne, France, and Managing Director at the Progressio Capital Partners

Luxembourg mihai.precup@yahoo.com

Professor Victor DRAGOTĂ, PhD.

Romania victor.dragota@fin.ase.ro

Dragoş BÎLTEANU, PhD. Student Bucharest University of Economic Studies

Romania

Lecturer Florentina Olivia BĂLU, PhD. Institute of Management, University of Geneva

Switzerland florentina.balu@unige.ch

Andrei Alexandru TĂRĂBÎC, PhD. Student

West University of Timişoara Romania andrei.tarabac@e-uvt.ro

Gabriel MORAR, PhD. Student West University of Timişoara Romania

Hanaan YASEEN, PhD. Student Bucharest University of Economic Studies

Romania drd.hanaan.yaseen@gmail.com

Public Finance

Lecturer Klaudia JARNO, PhD. Poznan Department of Monetary Policy and Financial Markets, University of Economics and Business

Poland klaudia.jarno@ue.poznan.pl

Professor Kamilla MARCHEWKA-BARTKOWIAK, PhD.

Department of Monetary Policy and Financial Markets, Poznan University of Economics and Business

Poland

Professor Georgeta VINTILĂ, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania georgeta.vintila@fin.ase.ro

Lecturer Ştefan Cristian GHERGHINA, PhD.

Romania stefan.gherghina@fin.ase.ro

Radu Alin PĂUNESCU, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania radu.paunescu@fin.ase.ro

Professor Petru ȘTEFEA, PhD. Faculty of Economics and Business Administration, Management Department, West

Romania petru.stefea@e-uvt.ro

University of Timișoara

Alexandru BOCIU, PhD. Student West University of Timișoara Romania alex_bociu@yahoo.com

Associate Professor Andrei PELIN, PhD. Faculty of Economics and Business Administration, Management Department, West University of Timișoara

Romania andrei.pelin@e-uvt.ro

Associate Professor Oana-Ramona LOBONȚ, PhD. Habil.

Faculty of Economics and Business Administration, Finance Department, West University of Timișoara

Romania oana.lobont@e-uvt.ro

Lavinia Daniela MIHIȚ, Ph.D. Student West University of Timișoara Romania lavinia.mihit@gmail.com

Professor Nicoleta Claudia MOLDOVAN, PhD. Habil.

Romania nicoleta.moldovan@e-uvt.ro

PhD Stud. Oana Ramona GLONT, Ph.D. Student

West University of Timișoara Romania oanaramona.glont@gmail.com

Associate Professor Iulia PARA, PhD. Faculty of Economics and Business Administration, West University of Timișoara

Romania iulia.para@e-uvt.ro

Associate Professor Lucian ŢÂŢU, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania lucian.tatu@fin.ase.ro

Associate Professor Nicoleta VINTILĂ, PhD.

Romania nicoleta.vintila@fin.ase.ro

Professor Andreea STOIAN, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania andreea.stoian@fin.ase.ro

Associate Professor Emilian MIRICESCU, PhD.

Romania emilian.miricescu@fin.ase.ro

Associate Professor Attila GYÖRGY, PhD.

Romania attila.gyorgy@fin.ase.ro

Alia AFZAL, PhD. Student Institute of Statistics, Faculty of Economics and Management, Leibniz University Hannover

Germany alia.afzal@ymail.com

Professor Philipp SIBBERTSEN, PhD. Institute of Statistics, Faculty of Economics and Management, Leibniz University Hannover

Germany sibbertsen@statistik.uni-hannover.de

Professor Andreea STOIAN, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania andreea.stoian@fin.ase.ro

Lecturer Filip Iorgulescu, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania filip.iorgulescu@fin.ase.ro

Daiana Florina PETRESCU, PhD. Student Babes-Bolyai University Romania daiana.petrescu@gmail.com

Professor Alexandru TODEA, PhD. Faculty of Economics and Business Administration, Babes-Bolyai University

Romania alexandru.todea@econ.ubbcluj.ro

Assistant Professor Faruk DAYI, PhD. Department of Business Administration, Kastamonu University

Turkey faruk_dayi@hotmail.com

Associate Professor Tolga ULUSOY, PhD.

Department of Banking and Finance, Kastamonu University

Turkey tulusoy@kastamonu.edu.tr

Assistant Professor Dan Gabriel ANGHEL, PhD.

Romania dan.anghel@fin.ase.ro

Associate Professor Laura-Elly NAGHI, Faculty of Finance and Banking, Romania laura.novac@fin.ase.ro

PhD. Bucharest University of Economic Studies

Adina Alexandra DARMAZ-GUZUN, PhD. Student

West University of Timișoara Romania

Lecturer Andrei STĂNCULESCU, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania andrei.stanculescu@fin.ase.ro

Session 5 – 28 March 2019

Banking

Research Student Haifa ALHAMDANI, PhD.

School of Economics, University of East Anglia

United Kingdom

h.al-hamdani@uea.ac.uk

Assistant Lecturer Arndt-Gerrit KUND, PhD. Student

Department of Bank Management, University of Cologne

Germany kund@wiso.uni-koeln.de

Research associate Daniel RUGILO, PhD. Student

Department of Financial Accounting and Auditing, University of Cologne

Germany

Professor Alin ANDRIEŞ, PhD. Faculty of Economics and Business Administration, “Alexandru Ioan Cuza” University of Iaşi

Romania alin.andries@uaic.ro

Nicu SPRÎNCEAN, PhD. Student “Alexandru Ioan Cuza” University of Iaş

Romania nicu.sprincean@uaic.ro

Research associate Matthias PETRAS, PhD. Student

Department of Bank Management, University of Cologne

Germany petras@wiso.uni-koeln.de

Professor Marilen PIRTEA, PhD. Faculty of Economics and Business Administration, West University of Timișoara

Romania

Lecturer Claudiu BOŢOC, PhD. Faculty of Economics and Business Administration, West University of Timișoara

Romania claudiu.botoc@e-uvt.ro

Alexandru BOCIU, PhD. Student West University of Timișoara Romania alex_bociu@yahoo.com

Whelsy BOUNGOU, PhD. Student LAREFI, Department of Economics, University of Bordeaux

France whelsy.boungou@u-bordeaux.fr

Associate Professor Dan Costin NIŢESCU, PhD.

Romania dan.nitescu@fin.ase.ro

Florin Alexandru DUNĂ, PhD. student Bucharest University of Economic Studies

Romania alexandruflorin.duna@gmail.com

Adriana Daniela CIUREL, PhD. Student

Romania adriana_daniela_ciurel@yahoo.com

29 March 2019

Corporate finance and investments

Associate Professor Ana-Cristina NICOLESCU, PhD. Habil.

Romania cristina.nicolescu@e-uvt.ro

Lecturer Sorana VĂTAVU, PhD. Faculty of Economics and Business Administration, Finance Department, West University of Timișoara

Romania

Hanaan YASEEN, PhD. Student Bucharest University of Economic Studies

Romania drd.hanaan.yaseen@gmail.com

Lecturer Rafał SIEDLECKI, PhD. Department of Corporate Finance and Public Finance, Wrocław University of Economics

Poland rafal.siedlecki@ue.wroc.pl

Lecturer Agnieszka BEM, PhD. Department of Corporate Finance and Public Finance, Wrocław

Poland agnieszka.bem@ue.wroc.pl

University of Economics

Lecturer Paweł PRĘDKIEWICZ, PhD. Department of Finance, Wrocław University of Economics

Poland pawel.predkiewicz@ue.wroc.pl

Professor Cosmin ENACHE, PhD. Faculty of Economics and Business Administration, West University of Timișoara

Romania cosmin.enache@e-uvt.ro

Associate Professor Sorin Gabriel ANTON, PhD.

Faculty of Economics and Business Administration, “Alexandru Ioan Cuza” University of Iaşi

Romania sorin.anton@uaic.ro

Assistant Professor Faruk DAYI, PhD. Department of Business Administration, Kastamonu University

Turkey faruk_dayi@hotmail.com

Lecturer Resit CETINKAYA, PhD. Department of Business Administration, Kastamonu University

Turkey rcetinkaya@kastamonu.edu.tr

Rodica BACIU, PhD. Student University of Economic Studies, Bucharest

Romania rodica@materom.ro

Professor Petre BREZEANU, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania petre.brezeanu@fin.ase.ro

Lecturer Adrian ŞIMON, PhD. “Petru Maior” University Romania adr_simon@yahoo.com

Lecturer Andrei STĂNCULESCU, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania andrei.stanculescu@fin.ase.ro

Public finance

Associate Professor Bogdan Florin FILIP, PhD.

Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi

Romania bogdan.filip@feaa.uaic.ro

Nicolae-Bogdan IANC, PhD. Student in international cotutelle

Laboratoire d'Economie d'Orléans (LEO) from Université d'Orléans, and West University of Timișoara

Romania iancnicolaebogdan@gmail.com

Milena KOWALSKA, PhD. Student Wrocław University of Economics Poland milena.kowalska@ue.wroc.pl

Alina Ioana CALINOVICI, PhD. Student West University of Timișoara Romania alina_calinovici@yahoo.com

Economist Florin COSTEA Head of Finance Hella Romania Romania florincostea82@yahoo.com

Carmen PIRVAN, PhD. Student Bucharest University of Economic Studies

Romania carmen.pirvan@gmail.com

Professor Ileana NIŞULESCU- ASHRAFZADE, PhD.

Faculty of Accounting and Management Information Systems, Bucharest University of Economic Studies

Romania nisulescu_ileana@yahoo.com

Cosmina-Ștefania CHIRICU, PhD. Student

Romania cosmina.stefania@ymail.com

Associate Professor Iustina BOITAN, PhD.

Romania iustina.boitan@fin.ase.ro

Professor Emilia CÂMPEANU, PhD.

Romania emilia.campeanu@fin.ase.ro

Associate Professor Andreea CURMEI-SEMENESCU, PhD.

Romania andreea.semenescu@fin.ase.ro

Assistant Professor Dragoş Ştefan OPREA, PhD.

Romania dragos.oprea@fin.ase.ro

Associate Professor Cătălin CURMEI, PhD.

Faculty of Business Administration (in Foreign Languages), Bucharest University of Economic Studies

Romania catalin.curmei@fabiz.ase.ro

Ligia IACOBESCU, PhD. Student Babes-Bolyai University Romania ligia_iacobescu@yahoo.com

Lecturer Liliana SIMIONESCU, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania liliana.simionescu@fin.ase.ro

Professor Dalina DUMITRESCU, PhD. Vice-rector of the Bucharest University of Economic Studies

Romania dalina.dumitrescu@fin.ase.ro

Cristina GANJA, PhD. Student Babes-Bolyai University Romania ganja.cristina@gmail.com

Lecturer Dan LUPU, PhD. Faculty of Economics and Business Administration, "Alexandru Ioan Cuza" University of Iaşi

Romania dan.lupu@uaic.ro

DUMITRU NICUŞOR CĂRĂUŞU, PhD. Student

"Alexandru Ioan Cuza" University of Iaşi

Romania nicusor@live.com

Associate Professor Meral KAGITCI, PhD.

Romania meral.kagitci@ase.ro

Ruxandra TRIFAN, PhD. Student Bucharest University of Economic Studies,

Romania rux.trifan@gmail.com

Assistant Professor Elena Valentina

ȚILICĂ, PhD. Faculty of Finance and Banking, Bucharest University of Economic Studies

Romania elena.tilica@fin.ase.ro

Banking

Professor Hilmar Þór HILMARSSON, PhD.

School of Business and Science, University of Akureyri

Iceland hilmar@unak.is

Professor Alin ANDRIEŞ, PhD. Faculty of Economics and Business Administration, “Alexandru Ioan Cuza” University of Iaşi

Romania alin.andries@uaic.ro

Researcher Florentina MELNIC, PhD. Student

“Alexandru Ioan Cuza” University of Iaşi

Romania florentina.melnic@uaic.ro

Fatima Zohra MAROUF, PhD. Student Warocqué School of Economics and Management, University of Mons

Belgium FatimaZohra.MAROUF@student.umons.ac.be

Oona VOICAN, PhD. Student Bucharest University of Economic Studies

Romania oona.voican@yahoo.com

Ștefan Cătălin TOPLICEANU, PhD. Student

“Alexandru Ioan Cuza” University of Iaşi

Romania tstefan.catalin@yahoo.com

Maria Alexandra CRISTEA, PhD. Student Bucharest University of Economic Studies

Romania marialecsandra@gmail.com

Matei KUBINSCHI, PhD. Student Bucharest University of Economic Studies

Romania matei.kubinschi@yahoo.com

Alina ZAHARIA, PhD. Bucharest University of Economic Studies

Romania alina.zaharia03@gmail.com

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