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One forms of tourism offer that has been present in the world for a long period of time is related to sports activities and recreational diving. Diving tourism has a direct impact on improving the quality of the overall tourist offer, because it is directed towards particular customers, often the ones with higher purchasing power. Diving tourism as a specific type of tourism can have an impact on the extension of the tourist season. Since it is takes place almost throughout the whole year, diving tourism can affec...

In this article Latin America considers as one of the most promising markets for the development of international franchising. The development of franchising in the world and geographical region of Brazil was presented. Furthermore, current state and development of franchising in Brazil by the main sectors of the economy were analysed. The authors came up with conclusions about more active development of franchising in Brazil comparing with the GDP growth of the country. On the basis of statistical data the predom...

The unit was established on 01.10.1995, with the object of activity "growing cereals (except rice), leguminous crops and of oil seeds plant." The headquarters unit is in Craiova, str. Route Severin, no. 44 bis. The company has branch in MДѓceЕџu de Sus and land which undertakes its activities are located in the villages Gighera of Sus and MДѓceЕџu. By its content work seeks to highlight the economic results obtained at SC Triumvir LLC, over two years of activity into conditions in which we can talk of a class manu...

The Czech Republic and all of Europe are cultural tourist destinations. To support both sectors, tourism and culture, it is more than necessary to pay attention to their significant contributions to the economic and social development of the area. The aim of the article is to compare the methodology or rather approach to cultural tourism included in Tourism Satellite Account and in Cultural Satellite Account and compare their results in relation to cultural tourism. The main methods used in the researched issue we...

Fostering local identity is seen as a way of differentiating between communities, which, in the context of an ever increasing globalization, tend to become more and more similar. Elements like landscape and popular culture still contribute to keeping and shaping a distinct local identity. Identifying the role played by local identity in the development of a community has a large economic, social and ecological importance. The presence of certain practices, traditions, customs and other events (promotion of traditi...

To succeed in the highly competitive online environment, it is of the utmost importance to understand different attributes affecting consumers' online buying behaviour. In this context, the main purpose of the paper was to investigate the relation between features of Generation Y online buying behaviour and socio-psychological variables. The data was collected through survey questionnaire using the purposive sample of 515 Croatian Generation Y consumers from the Dubrovnik-Neretva County. The empirical survey was c...

Foreign direct investments undoubtedly have a significant impact on the national economy. They contribute to economic growth, to reducing the unemployment rate and they also positively affect other macroeconomic indicators. Foreign companies bring with them not only foreign capital that they invest in the host country, but also new technology, modern and more effective production and management methods, classic standards of business conduct, new jobs as well as opportunities for domestic suppliers. Investment ince...

A large body of empirical literature confirm that foreign direct investments (FDI) are an essential source of development for the most of countries, especially transition economies. The export oriented FDI has multi-fold contribution in the economies of the host countries. Therefore, the main objective of this paper is to analyze empirically the foreign direct investments and exports performance of South East European (SEE) countries, covering the period 1996-2013. The paper also investigates for the fixed effects...

The 21st-century workforce is global, highly connected, technology-savvy, and demanding. Its employees are youthful, ambitious, and filled with passion and purpose. Trends in leadership, talent acquisition, capability development, analytics, and HR transformation are all impacted by globalization. Companies that learn to leverage global talent markets while localizing their HR strategies will be poised for strong performance. The paper is focused on process of globalization, which greatly influences human resource...

This study goals are revealing perception associated to trends about opportunity employment to military women in military structures and to see if possible difference in attitude, statistic significant, given by same cluster subjects, can be analyzed depending on tested parameters, (like sex, socio-cultural area, pathway, age, rank, family type, function). In most analyzed structures and specializations like references in realized article, military women are integral part in military organization, occupying varied...

The paper shows the gender inequalities in work and employment in Georgian reality It represents the analysis of existing quantitative and qualitative studies with regard gender inequalities. Desk research method is used discuss the research question- what is the extent of gender inequalities in work and employment in Post-soviet Georgia. As statistical evidence and rigorous studies conducted by researchers and non-governmental organizations suggested gender inequalities in employment, education and income distrib...

Customer relationship management (CRM) has become an important topic for practitioners in recent years. Customer relationship management becomes an important key of how to manage relationships with customers effectively. A key component of many initiatives is the implementation of Customer Relationship Management (CRM) methods. In order to enhance customer relationships, the application of CRM methods are exploring in detail. This research aims to explore the perceptions of flight team members in regarding of CRM ...

Paradigm shift in education under an international labor migration must be scientifically justified. Economic growth and improved living standards in Kazakhstan is a strong attraction for immigrants. However, there has been a steady trend of outflow of young specialists from the country. As a result, narrows the competitive environment in the labor market, employment is provided by jobs with low quality, reduced productivity. The main tasks, which will be answered in the studies: 1.Provide an analysis of the struc...

Once Piedmont was known as †the antithesis of a tourism destination' because its regional capital, Torino, was (and still is) well known worldwide as the symbol-city of the Italian car industry. Nowadays, this Region has a very appreciate position as a tourist destination because of museums, exhibition centers, cultural and religious events (e.g. the Holy Shroud) and, last but not least, industrial tourism, linked not only to car industry but also to excellences of the food and wine sector. Furthermore ExpoTorin...

Innovative processes in different countries are closely connected with information recourses use and production. So, innovative development of any country can be evaluated by means of their quantitative assessment. The aim of this article is to determine the potential of innovative activity realization on the base of Russian information recourses. The stages of innovative process and types of information recourses used and produced at its every stage have been determined. This use is based on their demand while th...

Territories of priority development play a significant role in innovative economic development of the Russian Federation. These territories are defined as municipal entities aimed at formation and implementation of science-intensive products and services necessary for increasing life quality and being in in high demand of business and population. By the decree of the President of the Russian Federation Siberia and Krasnoyarsk Krai in particular is to be awarded a special status for its economic potential implement...

Analysis of the results and identification of prospects for Russia's WTO accession is necessary on the regional level, as the territorial development of Russia is very heterogeneous. Due to the high heterogeneity of the territorial development of the Russian Federation subjects accession to the WTO will have multidirectional action on regional economies.

In the present study we aimed to present a point of view on the relationship between innovation and economic growth, considering innovation as the most important component of long-term economic growth engine. In this regard our research was based on different bibliographic sources that we mentioned in the article. In our approach we started by defining the two concepts, innovation and growth, the ways of interaction between them and the role of innovation in delivering economic growth. Innovation is a process for ...

Background. The search the reasons for a manufacturing development is very important for Russia. Nowadays the extractive enterprises are the most important part of Russians economy. For example, in 2013 year the part of mineral products in common Russian export was 76,1\% (data of Russians Federal State Statistics Service). But to be competitive in the global economy the country needs in production of more complex products. Methods. The method of this research is a production function which was constructed for the...

Innovation and smart specialization are recognized as the drivers of the most economies. Although it is Main dominating opinion in society acknowledges that members of Diaspora are mainly involved/ targeted to short time, rather low skilled workplaces with aim to gain capital and to return to native country. This research will include desk research about existing studies and findings on Entrepreneurship potential and innovation and regional smart specialization, and briefly adding small field research particularly...

It often happens that during the life of an instalment contract, the early termination must be addressed. In particular, due to the default of user, several controversies may emerge in the absence of a specific doctrine, as it happens in the Italian legislation (see, e.g., Hull, 1982; Lease et al., 1990). In this paper, some of the most critical contractual issues arising in the Italian legislative context are considered that turn out to be on the border between law and financial calculus and that may, in certain ...

Corporate social responsibility is a part of business doing and ethical standards of modern societies. It is a manager of an enterprise to decide whether he wants an entity to comply with the rules and how he wants a company to fulfill the standards. Managers cannot treat an entity as independent unit separate from other participants of free market economy and from society. Modern enterprises are important members of every society, which gives them privileges and creates obligations as well. The qualitative analys...

The main objective of this paper is to use modern approaches for evaluating the performance and competitiveness of a company with regard to a dynamic business environment. The evaluation method used is the Balanced Scorecard, which was designed in 1993 by the authors Kaplan and Norton as a system of balanced perspectives (based on finances, customers, internal processes and growth). Currently, however, the original Balanced Scorecard method exhibits certain deficiencies in its approach to measuring business perfor...

Nowadays use of statistical tools in the market of art objects remains insufficient. The purpose of this article is the statistical analysis of return dynamics and estimation of investment risks into the art objects. Return modeling is executed on the basis of ARTIMX index, which represents an integrated indicator of art objects prices change. In the frames of this investigation, we use the Dickey-Fuller criterion for stationarity testing of net returns time series and the Ljung-Box test to check the autocorrelati...

The main purpose of the tax authorities is to get the highest possible positive and financial performance, while minimizing the costs and resources. Procedure extended information interaction (the horizontal monitoring) applied exacerbated in some foreign countries. The purpose of the application of horizontal monitoring is to create an effective budget system of tax administration. Horizontal monitoring is necessary to expand the boundaries of interaction with taxpayers. And also to predict possible tax risks. Ho...

In the first of our articles devoted to the evaluation of the credit risks of Russian telecommunication agencies we have studied the structure of data, carried out the financial and economic evaluation of the objects of our study, established the relationships between the indicators and chose the most representative of them. To do this the authors used the methods of financial and correlation analyses. In this article, we use the statistical model in order to evaluate the credit risks on the basis of those chosen ...

The goal of every unit's activity is to maximize economic benefits, and, in consequence, maximize the profit. The effectiveness of companies' activity is the subject of special interest of their management boards. The aim of the article is to analyse a company's profitability in relation to branch ratios on the basis of available consolidated annual financial statements for the period from 2010 to 2012. The aim of the article is to present and analyse the theoretical as well as practical aspects of its financial c...

Recently in Europe, with the help of various programs, efforts are being made to make the tax policy more business-friendly, thus tax system evaluation in terms of entrepreneurship promotion is particularly important during this period. It should be noted that, when evaluating the entrepreneurship of subjects, the entrepreneurship of various companies is usually emphasized and studied, while the entrepreneurship of self-employed individuals is ignored. Evaluation of the latter is particularly important as self-emp...

It should be noted that the tax system of each country is formed according to the set priorities and economic-social programs, therefore the significance of research on tax system evaluation in terms of entrepreneurship promotion is shown by not only the fast growing amount of changes in the tax system, but also by the emergence of various programs supporting innovations and promoting entrepreneurship. The performed statistical data analysis enables to state that strong economy, stable financial system, high level...

In the era of two competing valuation concepts of historical costs and current costs, a definition and designated criteria of faithful representation are essential in order to be successful in providing financial information prepared in accounting system. Based on the conceptual framework study and meta-analysis of English and Polish accounting literature authors conclude that theory of accounting hardly at all provides guidance referring to the definition of faithful representation of economic phenomena it purpor...

The development of the Russian economy has difficult and long way. Unpredictable dynamic market in terms of economic sanctions, an abundance of new policy decisions and legislative acts create many difficulties for Russian companies. In such terms, the particular importance takes strategic management. It is becoming increasingly important for Russian companies, which operate in conditions highly competitive, both among themselves and with foreign corporations. Currently, leading economists in the world acknowledge...

Global economic development effected by stagnation in the euro area, recession in Asia and geopolitical crises, is influenced by non-measurement predict risks yet, not only in finance but also by risks in the overall development of economic performance. In connection with the situation and future progress in the global economy are increasingly "red warning lights" mentioned to refer. Despite the fact of belief, that Europe within the monetary policy will take all measures to recover and kick-start the economy thro...

The research in this paper is part of a complex study aiming risk management issues in decision-making processes in the implementation of an effective corporate governance, project carried out during postdoctoral studies. The research falls within a positivist scientific approach certainly not deprived of some critical and interpretative approaches aimed at explaining different concepts as well as highlighting possible solutions to the identified problems. For the scientific examination of the issues and in order ...

One of the indexes to the health of any economy is the performance of the companies operating within it. An analysis of health and the rate of recovery after the global crisis of the EU Member States' economies is conducted by the authors of the article by studying indicators such as turnover, gross value added, the share of wages in value added. The study concerns the level of indicators for the period 2008-2013 for EU 28, highlighting the situation of Romania and Bulgaria.

This paper studies the level of sensitivity of the US stock market to nominal interest rates for the period 2003-2013 using quantile regression. The empirical results show that the stock market has a significant sensitivity to changes in interest rates and finds differences across sectors and over time. Moreover, the effect of changes in the interest rates tends to be more pronounced during extreme market conditions, thus distinguishing expansion periods from recession periods.

The audit objective has evolved to detect fraud and error, a process which involved a thorough check of all economic transactions and the filing of accounts, to express an opinion on the true and fair view of the assets, liabilities, financial position and results achieved by the company. It aims, in this respect, as the information recorded in the accounts reflect economic events that occurred in a certain time and efforts are intensified auditor to identify possible manipulations of information provided by the f...

One of the basic needs of every enterprise is the identification of costs related to business activities. The fundamental tool for evaluating the costs of the enterprise is costing, which is among other things of particular importance particularly for businesses selling their performance externally. Costing allows assessing the profitability performance, which is one of the basic prerequisites of the company's success. Selecting the type of costing is essential for obtaining relevant information on the costs of th...

The term financial health indicates the company's ability to maintain a balance of changing ambient conditions and also in relation to all who are involved in the business. We are talking about the financial health of the company, if the company maintains its own existence and is able to assess the invested capital to the extent that is required by shareholders. For bankruptcy we consider the situation when the company is not able to reverse their poor financial health and this situation is in accordance with the ...

The article explores the ways of forming a system of risk management (RM) and improving risk management of Latvian small and medium enterprises (SMEs), using the example of the company "X". There has been stated the insufficient employment of SMEs, RM methodology in practice; the methodology has been developed for large businesses. There has also been discovered the necessity of taking into consideration the peculiarities of industry and country. The paper presents the assessment of risks on the basis of expert an...

The method of the unilateral weighed smoothing of time numbers on the basis of use of the polygonal numbers, showing utility of appendices of methods of the additive theory of numbers and calculations of final differences is developed. This method of calculation of weight factors for sliding averaging is based on generalization of the decision of one A.A. Markov's problem. Proposed are the formulas of natural mathematical substantiation in the form of establishing the strictly limiting parities. The comparative an...

The purpose of the article is to examine best valuation practices of intangible assets in Estonia. The paper gives an overview of the methods that Estonian experts use to value intangibles and compare them to the methods and approaches recommended by financial theory. We carried out several dozen interviews with venture capitalists and experts within consultancy and auditory firms. Our main findings indicate that the experience of Estonian financial professionals in the field of valuation of intangibles is rather ...

At present, the idea is increasingly gaining ground of an integrated material flow management in entire supply chains in order to achieve maximum synergies. This final state is, however, usually achievable in gradual steps, with the greatest interest in developing cooperation with its suppliers being on the side of links serving the final consumer, i.e. wholesale and retail stores. Their interest in constantly improving their own customer service usually supports efforts to develop cooperation on the basis of mode...

The demanding character of the competitive environment in the pharmacy sector in the Czech Republic requires that pharmacies expand the assortment of OTC drugs and food supplements and perfect the system of customer care in order to increase the perceived value of the proposition and services from the customer's perspective. The aim of the quantitative research through personal interview in randomly selected households in the Czech Republic was to determine what attributes of the customer value clients are importa...

The aim of the European regional policy is to contribute to the development of backward regions in particular, the restructuring of declining industrial areas, and revitalization of deprived neighborhoods. The emphasis is focused on creating sustainable jobs and improving the economic, social and territorial 'cohesion' of the Union. EU regional policy is considered as the investment policy. It is supposed to support job creation, competitiveness, economic growth, quality of life and sustainable development. These ...

Customers subjectively evaluate the offer and the value perceived by them is a result of considering many factors, often surprising for the supplier. Likewise, the supplier may have a distorted idea of how much individual parameters of the offer are important to the customers when choosing a supplier and how they evaluate the offer. Evaluation of the supplier performance by customers was the subject of a quantitative research that was conducted in body shops in the Czech Republic. A partial aim of the research was...

The need to adopt measures aimed at deoffshoring of the Russian economy has been declared by the President in Message to the Federal Assembly as early as 2013. Within the framework of this campaign till now numerous versions of bills, initiatives were prepared, which consistently had been changed. Thus, the bills were prepared by the Ministry of Finance of Russia, the Ministry of Economic Development, the Russian Union of Entrepreneurs. The President of the Russian Federation signed the final version of the law on...

The article discusses the selected issues related to the development of methods and indicators for measuring eco-innovation at the micro-level and explores how they may be employed in practice. On the basis of multidisciplinary literature review the various economic and environmental methods and indicators, which might be involved in measuring eco-innovation, have been discussed. This analysis has resulted in development of an original approach to measuring eco-innovation based on eco-efficiency indicator. It take...

Demand forecasting plays a key role in the management of logistics processes in retailing. The quality of the resulting forecasts has a direct impact on the efficiency of processes not only in retail stores, but also throughout the supply chain they are part of. Retail stores are in fact in daily contact with end customers in the supply chain, and therefore they are largely involved in forecasting in the application of collaborative strategies in supply chain management (e.g. Quick Response, Effective Consumer Res...

Energy is an essential factor of economic development and energy issues thus pose a major challenge to a long term sustainability of economic development as well as energy security of national economies in terms of energy availability and affordability. Recent economic theories propose that the relationship between sustainable economic development, energy security and efficiency of energy consumption plays a prominent role in overcoming these challenges. This study examines energy intensity within the context of r...

Creating marketing communication in an enterprise to integrate all communication tools and effectively unite the efforts of the enterprise in communication with all stakeholders is an essential prerequisite for success on the current markets. In this issue, we often encounter the opinion that the use of mass communication and mass media in the marketing communication mix of businesses, particularly those operating on B2B markets, is on the decline due to the growing differentiation and the pursuit of one-to-one ma...