Institutional cooperation in research activities for specialists, training and usage of computational intelligence for fundamenting companies financial decisions

The main objective of the project is to increase the economic development in the cross-border region by strengthening the institutional cooperation between the University of Oradea and University of Debrecen in the field of computational intelligence applied in the company’s financial management. This objective is in line with the general objective of the Interreg V-A Romania-Hungary Cross-Border Cooperation Program and the specific objective of Priority Axis PA6 on Strengthening Sustainable Cross-Border Cooperation of Institutions and Citizens.The project aims to strengthen the institutional cooperation on computational intelligence research in corporate finance area. The business environment needs modern methods and techniques to substantiate financial decisions, both to enhance performance and to provide resource-efficient management in order to deliver quality products and services to consumers. Starting from this business environment necessity, the institutional cooperation in the research activity aims, within this project, three main directions of action:- Specialists training in the field of computational intelligence;- Software and computing technology purchasing for computational intelligence testing ;- Testing different kind of computational intelligence techinques needed for decision-making in companies;The proposed project is a cooperation project between two academic insitutions. The results of the project will be put at the disposition and disseminated to the public, both specialized and not specialized. Mainly the public is supposed to be interested in accesing the research papers which will constitute the two volumes proposed to be edited and, also, the set of indicators which will be established in order to analyze the financial health of the economic operators operating within Bihor-Hajdu-Bihar Euregion. All the results of the project will be published on the web-site of the partners and distributed free of charge to any interested parties. In the same time using the set of economic indicators, described above, the companies located at the Hungarian-Romanian border can improve their economic situation, and indirectly improve the economy of the region and general wellfare of the public.The project has several results which are proposed to be achieved:- institutional cooperation between the two institutions: University of Oradea and University of Debrecen by ensuring the jointly training of the staff in the field of computational finance decision making process and by this creating a specialized core of experts which can later spread knowledge in the field towards students and companies and can offer consultation in using the specialized software.- transfer of the knowledge to the decision makers, SMEs owners and at least other five institutions involved in economic development and SME activities thorugh courses and events- acquisition of a special designed software package which should be used in computational financial management decision making- Organizing two experience exchanges with 15 participants, in order too coordinate research teaching activity and to develop computational intelligence algorithms in the financial management domain.- Organizing two bilateral events with 50 participants, called "Computational Intelligence Days," in order to improve institutional co-operation and to ensure the visibility of computational intelligence applicability in business management.- Transfering the knowledge of the project to at least 100 students (50 from each partner) and later this can be transferred into real economy.- Editing the Guide for Computational Intelligence utilisation in the company's financial management, in order to share the expertise acquired in the institutional co-operation process as well as to develop the specialized skills needed for the research activities jointly undertaken by the two universities.The sustainability of the project and its results will be ensured with the support of the institutions involved. The operational and institutional sustainability of the project will be ensured by the cooperation business development network initiated, within this project. Both institutions which are developing this project intend to support and develop further common cooperation programs in the fields of education, research and economic development. In this manner, since this project integrates in the general goal of the Universities, the operational and institutional sustainability will be obtained. Regarding the financial sustainability of the project both institutions initiating the project are committed to support on financial basis the project and later the implementation and continuation of the results generated by it. In the future a strong support can come also from the economic and social environment within the counties on the Hungarian-Romanian border. The software and algorithms established within this project will be used by economic operators, decision makers, SMEs owners, experts and not at least students from the two Universities. The students will later ensure the durability of the project by the integration of the project results into their curriculum and later by the transfer of their knowledge to the economic environment.The current project is considered to be a pilot project which is initiating the cooperation between the Institutions involved in the project and which will later be followed by other different projects and cooperation initiatives. Mainly this will be followed by other initiatives in order to improve the economic development in the border area. As well the main result of the project: establishing financial management decision algorithms for the economic operators which are operating within Bihor-Hajdu-Bihar Euregion, will be later put at the disposal of all interested parties. It is thought that both the study and the software will be later used by the business environment and governments all over the Hungarian-Romanian border. In the same time the cooperation between the financial and accounting departments of the two Universities will be followed by all other similar departments which are situated on the Romanian-Hungarian border in order to enhance the economic development of the region and to reduce the bottlenecks hindering the cross-border cooperation.

Achieved: 1) A better cross-border private initiative background for developing entreprises in the area of Romanian-Hungarian border. 2) Development of modern tools in the finance-related area, through the use of computational intelligence. 3) Increased institutional cooperation between University of Oradea and University of Debrecen by ensuring the jointly training of the staff in the field of computational finance decision making process and by this creating a specialized core of experts which can later spread knowledge in the field towards students and companies and can offer consultation in using the specialized software. 4) Financial management decision algorithms were developed for the economic operators from Bihor-Hajdu-Bihar Euregion which are put at the disposal of all interested parties, 5) Share the expertise acquired in the institutional co-operation process, as well as to develop the specialized skills necessary for the research activities jointly undertaken by the University of Oradea and University of Debrecen, by developing and publishing a guide for using computational intelligence in the financial management . Finalized: 1) 1 Analysis of the regulatory background for the enterprises in the Romanian-Hungarian Border, which contain data regarding the needs of the SMEs from the border region and the bottlenecks which hinder their activity and the development of the cross-border local economy. The data is elated to legal, social and economic conditions; 2) 5 Courses on Computational Intelligence with applicability in the finance area were organized for training University staff and specialists in this field ; 3) 6 Softwares for analysis of financial decision. 4) 1 Guide for usage of computational intelligence in the financial management of the companies in order to share the expertise acquired in the institutional co-operation process as well as to develop the specialized skills needed for the research activities.

The project has several results which are proposed to be achieved: - institutional cooperation between the two institutions: University of Oradea and University of Debrecen by ensuring the jointly training of the staff in the field of computational finance decision making process and by this creating a specialized core of experts which can later spread knowledge in the field towards students and companies and can offer consultation in using the specialized software. - transfer of the knowledge to the decision makers, SMEs owners and at least other five institutions involved in economic development and SME activities thorugh courses and events - acquisition of a special designed software package which should be used in computational financial management decision making - Organizing two experience exchanges with 15 participants, in order too coordinate research teaching activity and to develop computational intelligence algorithms in the financial management domain. - Organizing two bilateral events with 50 participants, called "Computational Intelligence Days," in order to improve institutional co-operation and to ensure the visibility of computational intelligence applicability in business management. - Editing the Guide for Computational Intelligence utilisation in the company's financial management, in order to share the expertise acquired in the institutional co-operation process as well as to develop the specialized skills needed for the research activities jointly undertaken by the two universities. - the knowledge will be transferred from the project to at least 100 students (50 from each partner) and later this can be transferred into real economy.