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Tourism in rural areas in Poland in the years 1999-2016 was an important element of socio-economic and cultural life. The aim of the study is to present tourism in rural are-as in Poland in the years 1999-2016. The following research methods were used: analy-sis of historical sources, synthesis, induction, deduction, and a comparative method. There was significant development of tourism in rural communities in Poland in the period from 1999-2016. Rural tourism was a major element in the life of country dwell-ers. ...

In considering the issue of coordination between monetary policy and fiscal policy, or a lack of it, one has to take account of the so-called zero lower bound on nominal interest rates, also known as a zero-bound (ZLB) problem. The problem basically is that nominal interest rates cannot drop below zero. Many economists argue that a near-zero interest rate encourages fiscal stimulation that certainly has influence on the type of decisions made by the central bank. Some studies point to higher effectiveness of fisca...

The concept of social entrepreneurship is related with entrepreneurial projects that are based on principles of social, economic and environmentally sustainable business. Social entrepreneurs are committed to resolving different socio-economic problems through projects based on social innovations. The realised profits are entirely or partially reinvested in the community. Social entrepreneurship is a significant part of the social economy. In the EU, there are 2 million social economy enterprises and organisations...

This paper is dedicated to the methodology for evaluating financial benefits of selected mezzanine capital instruments, which refer to hybrid forms of long-term funding combining the features of debt and equity, particularly to those characterized by a higher debt tendency (so-called debt mezzanine instruments). The authors aimed to review the theoretical background of evaluation of financial benefits of classic financing sources and to propose methodology for assessing financial benefits of debt mezzanine instrum...

Currently the overwhelming majority of countries worldwide recognized the need for innovative economic development and creation of own innovations that would give an impulse to qualitatively new, evolutionary development of the economy, industry, and society. Exclusive rights to intellectual property items, most often obtained on the basis of innovations, are valuable asset that can make monopolist of a single individual or legal entity, a whole state or a group of countries by giving them competitive advantages a...

The article deals with the actual labor market problem of creating an effective recruitment mechanism. It presents the key parameters of recruitment strategies. The best solutions of the problemar are considered in the context of asymmetric information. The article presents alternative models of recruitment, the principal-agent problem in each type of model and considers the key features of each agent’s behavior. In addition the opportunities of optimal contract between recruiter and employer and the optimal compe...

The article discusses the necessity for and direction to improve evaluation of accounting and control procedures of the facts of business units economic activities in auditing. Author’s definition of the concept of ‘accounting and control procedures’ is given in the article. The constituent elements of the system of accounting and control procedures are defined. The indicators of the elements evaluation are systematized in terms of the accounting and control procedures system elements. A technique of accounting an...

The article describes the main indicators of energy cluster development in Russia, the analysis of their impact on socio-economic indexes of regions. The paper summarizes the statistical data, shows regression and correlation analysis, gives the regression equation constructed and makes gross regional product projections of each region depending on the pace of clusters development.

The enforcement of economic security is one of the key tasks of state investment policy. The searching for effective solutions of this problem is really important in conditions of foreign policy disagreements and sanctions against recipient country. The purpose of this article is working out a concept of application in Russian Federation of range of limitations to foreign capital inflows. Abstract-logical, analytical, and dialectical methods of scientific knowledge were used in conducting this study. The used in i...

Nowadays we are witnessing the growing proliferation of social media in almost every sphere of our lives – from economics, to politics, society and education. Undoubtedly, the new opportunities of various social media applications such as social networking sites, collaborative projects, blogs, wikis, content communities, forums, etc., have their impact on educational process for both teachers and students. The main goal of this research is to identify some notable trends, opportunities and limitations regarding th...

In the article the questions connected with research of a modern condition of ecological tourism and prospects of its development in Russia are considered. To date, environmental tourism is one of the most promising and rapidly developing sectors of the tourism industry, occupying one of their leading positions. The methodological basis was the work of domestic and foreign scientists studying the problems of ecological and rural tourism and the development of special protected natural areas of Russia. In this cont...

Educational tourism, one of the fastest-growing tourism sectors in the world, can be developed in different areas that are characterised by accessibility and possess educational tourism resources. In order to efficiently invest in educational tourism, it is necessary to take into account economic peculiarities of a certain area. The research is aimed at constructing an economic portrait of the potential inbound educational destination ‘a modern Russian medium-sized urban area’, which has not yet received a thoroug...

The article presents a multifactor optimization model of balance sheet indicators of a company. The model enables to develop measures aimed at enhancing creditability of a potential borrower. The first steps offered in our research are the identification of all the items of balance sheet to be corrected and planning of measures for affecting the items of concern. The task of optimization is developed consisting of target function formulation and constraint system establishment. Under such constraints the model con...

Financial health of companies is a topic that has been historically studied under various conditions. However, the current economy is a living organism and, the conditions affecting the financial health of companies are changing dynamically. There are many ways how to evaluate the financial health of a company. In addition to the use of the ratio indicators, complex models using one numeric indicator expressing the financial health of the company can be applied. These include, for example, bankruptcy and credibili...

The quality of live is an interesting and important social topic but to measure the life quality is currently a complicated issue. Gross domestic product (GDP) per capita is a measure of a country’s economic output that accounts for population. It tells you how prosperous a country feels to each of its citizens. However, it is not a complete measure of economic welfare. The Human development index (HDI) was created with a goal to emphasize that not only economic growth but also people and their abilities could be ...

Due to the fact that the innovation system integrates the set of many interconnections of subjects of property, and that subjects often have directed to one side interests, so the defining approach to the research of the issue of interaction of institutions and property should be the “integrated approach” to the issue of cooperation of subjects of property that is represented in the article. The innovation economy, submitting to quite certain patterns and well-defined laws, changed traditional ideas and concepts o...

Many authors (e.g. Aaker [1], Keller [2]) have highlighted the importance of the brand among the company’s exploited assets. A number of papers dealing with the company brand and its valuation as a company’s important intangible asset highlight the growing importance of this asset within the company’s exploited set of assets. The focus is particularly on the brand ability to influence the consumer behavior and thereby achieve economic advantages compared to competitors in the form of higher profit margins, a highe...

In general, the development of tourism is dependent on the presence of tourist (natural, cultural, specialist) attractions as well as on the state of tourist infrastructure (accom-modation, catering, accompanying and transport infrastructure). Global environmental problems are usually marginalised or entirely overlooked at the stage when tourist offer-ings are developed. The purpose of the research is to identify and define the role of ma-jor global environmental problems in the development of tourism. The researc...

Intensive growth of agricultural production caused on the one hand implementation, adopted in 2010 a Food Security Doctrine of Russia, on the other hand, a ban on the import of food products from several Western countries, as a response to imposed against Russia sanctions, has highlighted the need for research and forecasting of development of agroindustrial complex. In the world in general and in Russia in particular, has accumulated substantial experience in building predictive models of agricultural development...

The authors seek to improve the construction of dynamic assessment model of company’s investment appeal. This involves a comparison of the actual order of the investment appeal indices with the standard ones by calculating the Kendall correlation coefficient for the two ranking series based on internal environment indicators of a leading chemical enterprise. The comparison results in the calculation of the dynamic assessment of investment appeal whose maximum value is equal to one when all observable characteristi...

The purpose of this article is to assess the effects of imposing economic sanctions on the Russian stock market by some Western countries in the beginning of the political confrontation with Russia in 2014 to identify the potential of the Russian stock market adaptation to the eventual introduction of such economic pressure instruments in the future. On the basis of generalized indicators characterizing the results of trading on stock markets, of price levels, volumes of transactions, stock indices, and by using t...

The monitoring of creditworthiness consists in supervising, monitoring and controlling the borrower's financial and business activities in order to establish its ability to timely and accurately fulfill the obligations on obtained loans. It also includes assessment and forecasts in the creditworthiness evolution under the influence of internal and external impact factors. The most important preconditions and requirements for creditworthiness evaluation are: ?The granted credits, as an absolute value, to match the ...

Tourism has an advantageous multiplier effect and severs as an accelerator of the social-economic development. Using a method of a component analysis the most significant indexes for differentiation of territory of Republic Tatarstan with purposes of recreation and tourism were detected. Map - models were constructed and by their superposition the integrated map of a recreational potential of Tatar Republic was obtained and the attractive areas for rest and tourism were detected. Using a method of a component anal...

For implementing partial activities, companies utilize a broad portfolio of financing resources. These resources can be analyzed from various angles. They are usually divided into company´s equity and debt resources. Although the decision about resource utilization is influenced by many factors, the cost of capital is the most prominent aspect that enters this process. The subject of the article is a research in the field of company debt resources. There are a number of circumstances that encourage companies to ch...

Responsible implementation of environmental policies in sustainable development must have as objectives activities gentle with the environment, sustainable planning of the livestock breeding and exploitation sector. It is found that around animal farms there are unused landfills that are sources of pollution for soil, air and water. Analyzing the water sources we found their pollution with organic substances, nitrates and ammonium, and the pH was very close to the upper limit admitted. The quantities of pollutants...

With this article attempts to determine the impact of instruments reflecting regional differences between individual spatially limited territories. The assessment of the influence of instruments measuring socio-economic development is one of the main reasons for optimizing the process of introducing policies for better governance in administrative territorial units. The purpose of the study is to analyze the impact of the instruments which reflectings the effectiveness of the policies undertaken for the management...

The current policy of the Russian Federation in the Arctic is aimed to large-scale expansion of the resource base in the region, development of economic sectors and construction of infrastructure facilities. The implementation of these ambitious projects requires recruitment of qualified labor resources to the region and attractive social and labor conditions. In the article, the current state of the socio-labor sphere of the northern region is considered on the example of the Republic of Sakha (Yakutia) as one of...

The regions focused on primary industry and raw materials extraction and processing have specific innovative and investment development. The paper presents the analyses of the world experience in applying rating system for innovative development assessment. As the result, the authors devised a new original method for the assessment of innovative development of the regions focused on primary industry and raw materials extraction and processing in terms of investment flows provision for the regions. The index for in...

The article presents materials on the study of the specifics of the formation of financial information in the system of economic security. In the face of increasing competition and the complexity of the economic nature, the role of scientific methods for ensuring the security of information, which is the basis of managerial decisions, is increasing. In modern conditions of distribution of information management systems, the technologies of preservation and confidentiality of financial data become popular. Attentio...

The article explores the problem of optimising university training structure to increase focus on the labour market. The proposed solution is constructed using a deterministic approach in which the following vectors are formed: the phase vector, whose coordinates are the values of the parameters describing the training process in higher education institutions at a certain fixed point in time; the controlling action vector (control vector) that allows influencing (by means of funding, the school-leaving exam score ...

The paper seeks to present the numerical composition of the mechanical park for the South West Oltenia region, in a national context, on components: tractors, plows, cultivators, sowing machines, sprayers and dredgers, combines, straw and hay balers, forage feeders. At the same time, the load on the machine is also presented. The editing of the study is based on the comparison method, using two variants: time comparison and space comparison. For the period 2013-2015, a dynamic series of three components and multia...

The mineral extraction tax and the customs duty on oil export are basic elements of the fiscal policy for the oil-extracting companies operating in Russia. The volume of these payments is strictly connected with the average level of exchange prices of Urals brand oil during the corresponding month. In the conditions of intensive oil prices reduction this circumstance led to essential losses of the federal budget incomes. The aim of this work consists in the characterization of the oil-extracting companies taxation...

Not only the economy, but also the whole society’s aim at economic growth in terms of qualitative and quantitative improvement of the population’s standard of living. At present, when the innovative economic sector, the service industry and knowledge have come to the fore, the concept of economic growth requires rethinking. Approaches to determining the quality of economic growth can be classified based on the absolute quantitative economic indicators (GDP, GNP, NI, national wealth, etc.), based on the relative qu...

The article is devoted to historical and methodological issues of application of the process approach in the practice of industrial enterprises. It is concluded that the development of industrial production and the increasing complexity of consumer preferences, evolving tools and process approach, from the division of labor in the sequence of manufacturing operations to the build process in the form of networking-based infrastructure platform. The process approach is the most important sign of improved management ...

The concern to protect consumers’ dates back to antiquity, the development of merchandise exchanges in markets from cities is not a random and uncontrollable phenomenon. The market of tourist products and services, in continuous development, leads implicitly to evolutions in the field of consumers’ protection, which will strengthen the cooperation with non-governmental organizations and with civil society. Consumers’ protection in the tourism sphere is part of the social policies promoted by any state. At the same...

The article evaluates the convergence-divergence of indicators of economic development processes in circumpolar countries. The object of the study is the indicators, which evaluate the economic processes in member countries of the Arctic Council: Denmark, Iceland, Canada, Norway, Russia, USA, Finland, and Sweden. The processes of convergence-divergence were researched in all eight member-countries of the Arctic Council based on statistics from 1990 through 2014. The following indicators, analyzing economic process...

The paper deals with the competitiveness of Slovak spa facilities and partly also with the competitiveness between Slovak and Hungarian spas. The main aim of the paper is to process and analyze the competitiveness in Slovak spa facilities through the use of all available information. The paper is divided into three parts. The first part summarizes the theoretical background of the examined issue; it’s focused on theoretical knowledge about tourism, spa tourism and balneology. It also deals with the theoretical kno...

For a long time, agriculture has played an essential role in the development of rural areas, but agricultural activities are no longer the only option for the development of these areas, "agriculture is no longer the vertebral column of rural economies." For the next period attention should be directed to: the development of rural villages and farms; support for processing agricultural products; relocating young people to rural areas; Development of activities in the tourism sector; Creating SMEs in rural areas. R...

In the concept of sustainable development, the tourism industry has accepted the notion of sustainable tourism. To respond to the central idea underpinning sustainable development, namely to protect natural resources, the article proposes solutions for the rational management of freshwater resources. Ensuring comfort standards in tourist accommodation units involves consuming considerable amounts of water. Total water consumption can be diminished by implementing storage and use solutions of rainwater. The Romania...

Over the past few years, the European countries have reformed their pension systems in order to make them able to cope with the challenges put forward by aging. As a consequence of the reforms, the pension systems have become more complex, the old age income being obtained today through cumulation of benefits provided by more types of pension schemes. Most often the changes were oriented towards ensuring financial sustainability of the system, sometimes forgetting that the purpose of a pension system is to provide...

Financial crises charge nations immense costs and lead to weakening of wellbeing. Politicians, professionals and academicians search for understanding of causes of financial crisis to enable them to spot their first hallmarks, and to adopt efficient regulative measures that may prevent financial crises and accompanying costs. When economists discuss an occurrence of the 2008 financial crisis they pay attention to plentiful reasons – but not taxes. This paper aims to investigate possible role income taxes might hav...

In 1960's professor Thorp found a way how to make extraordinary profits by investing in warrants. These investment instrument were generally unknown by then. Nowadays warrants are traded at significant volumes on the majority of stock exchanges all over the world. The pricing of warrants is usually based on the Black-Scholes formula designed for european call options which was presented in 1973 by Black, Scholes and Merton. Before the Black-Scholes formula was presented to the world, Thorp devoted several years to...

Background: Since the political and economic transition, many changes have been observed in the organization and performance of accounting services in Poland. It can be noted that specialized accounting service offices frequently replace traditional accounting departments as a result of outsourcing of specified business activities. Since 2014, under Polish deregulation policy a new law is effective abolishing the obligation for certified approval of professionals offering accounting services. The legal changes res...

Social capital is an important prerequisite for regional development, and it influences economic growth and development of a region. In last decades, public involvement in decision making became the main attribute of regional and community planning, which follows one of the basic social capital characteristics. Social capital is a connector among individual actors, it makes reaching common goals possible in a more efficient manner. It incorporates social organization attributes such as relationships, interactions ...

Background: As part of the changes introduced in 2015, a new category of financial statements for small businesses has been identified in Polish accounting regulations. Most of the solutions introduced are mandatory or optional simplifications in relation to the full scope of the financial statements. Against this background, the question arises whether the report using all possible simplifications for this category of entities still meets the accounting principles and qualitative characteristics of financial stat...

The paper concentrates on a study of the cluster-based concept of regional economies development. It has been empirically proven that the cluster-based approach appears to be one of the most effective instruments for regional economic growth and businesses integration. The approach is premised on formation of territorial-industrial clusters within which a network of interacting private, municipal and state enterprises, organizations and institutions is setup which facilitates joint efforts to address particular ec...

In the article is briefly discussed the question of development of system of regional governance by smoothing of spatial polarization in the region on the basis of implementation of infrastructure projects (as an infrastructure objects are considered hotel businesses in republic of Tatarstan and Mari El republic). Has been carried out the scenery forecasting of tendencies of regions’ development in the conditions of spatial polarization smoothing management on the basis of a diversification of hotel business in Ta...

Latvia is one of the European Union (EU) Member States being rich in bioresources. In terms of agricultural land area per capita, Latvia ranks third in the EU, while in terms of forest area per capita, Latvia ranks fourth. Bioeconomy industries may be theoretically divided into several groups: primary biomass production; biomass processing by mainly bioresource-based industries; biomass processing by industries, the bioresources of which compete with other kinds of raw materials; recycling of bio-products and wate...

Background. The global economic crisis of year 2008 and the period of its overcoming have proved that existing risk management systems do not meet modern challenges. Moreover, many economists and specialists predict a new wave of crisis. In this regard, in the new economic realities both to the governments of states and to the business community is the task of creating a system for identifying, assessing and managing risks. To this end, the World Economic Forum periodically presents an analysis of the most dangero...

Modern economic relations require companies to constantly move forward, flexibility, innovative methods of production, management, improve their financial stability. Factoring has huge prospects of development in Russia, as it allows organizations to efficiently resolve the problems of liquidity and cash-flow. The relevance of the study due to the fact that the use of factoring in the activities of the enterprise allows to evaluate fairly the financial condition, increases the turnover of working capital, which in...