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Contradictions between the private and public sectors appear to be significant. The presented article maps the state and possibilities of cooperation of municipalities with private companies in the construction area. It deals mainly with the involvement of voluntary associations of municipalities operating in the South Moravian Region of the Czech Republic. These associations of municipalities are one of the possibilities of interregional cooperation, which allows provision of public services to the members of the...

In Romania, the apiarian sector is very important because it develops in very good conditions referring to the climate conditions, air and soil quality, and not in the last place the honey potential, significant apiarian production were obtained. In the last three years, the number of entrepreneurs from the apiarian sector, which manages 150 beehives, had an increasing trend. From the study, we can see that the Romanian honey and the bee products are very appreciated both in our country and in other countries like...

One of the key instruments for improving tax administration in the Russian Federation is a new setting of the tax system in 2017-2018 years. First of all, innovations relate to the VAT system. In particular, will need further study questions of expediency and needs to increase the basic rate of tax, the abolition of preferential rates. To achieve a balance in the tax relations will be reduced the tax burden for businesses of Direct Taxes. To harmonize the taxation of individuals, need to develop methodical bases o...

The paper aims to investigate the impact of chosen fund attributes, industry and country characteristics in the given group of high- and middle-income economies from EU on excess return of open-end equity funds domiciled in these countries by means of a panel regression with fixed effects for the time span from January 2000 to December 2016 and to perform subsequently international comparison of the obtained results with existing evidence from other regions or groups of advanced and emerging economies of the world.

Information technology is currently one of the most important labour productivity drivers to increase economic efficiency. The aggravation of the geopolitical situation occurred in Russia over the past few years has demonstrated the vulnerability of the domestic financial sector and some other national economy branches to foreign manufacturers and suppliers of various software that led to the intensification of import substitution in this area. The conducted analysis has revealed that information technologies crea...

Background: This article addresses the problem of financial security. This topic is very interesting and has been chosen for us because issues relating to the development of companies than ever relevant today. The article is devoted to the complex research of financial security as a factor for sustainable growth companies. In the study, we set the following key objectives: to consider the main factors influencing the growth of companies, identify the key factors of influence, consider the specific situations and e...

The article is devoted to the research of factors, which determine the effective counteracting a drug addiction and an illegal drug trade. The factors include those from economic, social, institutional and administrative fields of governmental policy. The methodology of research is based on preliminary studies aimed to identifying factors of social and economic environment influencing drug addiction in order to verify the hypothesis that drug addiction is more economic problem than social or medical. We have built...

Greenhouse gas emissions produced by agriculture, animal husbandry, fishery and forestry activities continue to increase, although not as fast as emissions produced by other human activities. The paper analyzes the impact of agricultural, livestock, fishery and forestry human activities on greenhouse gas emissions. The goal is to build a model of greenhouse gases being changed due to human activities’ factors. As a theoretical model the authors have chosen ADL-model (auto-regressive-distributed-lags-model), in whi...

Today information technologies provide good opportunities for computerization in the financial sector for financial services and individual investment. The majority of Russians look at investment process as very difficult and risky, therefore preferring to deposit their money. To support this argument, the growth of the individual deposits for the period from 01.01.2012 to 01.01.2016, grew by 98% [1]. On the contrary, the number of private investors in the Russian stock market is less than one percent of the count...

The purpose of this paper is to present issues concerning the status and evolution of the Romanian economy. The study started in this work will continue with other research in this regard. The working methods used by the authors were the data collection, processing, analysis and comparison. The research is based on a bibliography consists of various scientific publications, statistical data, books without claiming to have exhausted the literature on this subject. Economic growth represents the essential engine for...

One of the burning issues in identifying the financial status of an industrial enterprise is a well-balanced system of financial indicators. Existing methods of financial assessment are similar in comprising the following indicators: current liquidity ratio; profitability ratio; indicators of financial sustainability and financial results: receivables and payables; limiting constraints. The specifics of extractive industry companies dictate the need to consider dependence of financial indicators on investments in ...

In the research is made an example of assessment and development of the methodology of multiobjective tasks of decision-making (MTDM) for optimum placement of the logistic objects (LO) needs. In the article are considered the various approaches to weighting of the structured objective tree blocks reflecting the chosen parameters in the tuples of various degree of completeness. Basing on the Republic of Tatarstan data on areas and district is modeling an example of the replacement of the logistics objects approach ...

The article seeks to emphasize the key role of the internal factors of the company’s investment appeal. This includes an overview of the traditional methods of assessing company’s investment appeal and the calculation of the integral index of investment appeal based on the financial performance for a leading chemical enterprise. The study results in a methodical approach to assessing company’s investment appeal on the basis of multiple regression of net return on assets. The authors propose to carry out a ridge-re...

The existing negative trend in fiscal development and increasing indebtedness of public finances, strengthened by the last crisis, have disrupted the fiscal stability of countries and have required governments´ interventions in the form of fiscal consolidation within their fiscal systems. The success of the fiscal consolidation process is conditioned by many determinants, among which may the fiscal rules be included. The role of fiscal rules is to provide a permanent pressure on fiscal policies with the intention ...

The article substantiates the topicality of theoretical basics and methodological fundamentals development for the monitoring system for economic and investment security of the Arctic regions in the Russian Federation. The need to modernize the state strategic management of the Arctic Zone regions in the Russian Federation arises due to the emergence of internal and external threats. Timely evaluation and prevention of crises on the territory of the whole Arctic Zone and specifically in the Arctic regions of the R...

In Latvia, tourism is considered to be one of the opportunities for economic growth and one of the priorities for the services sector, as it is a significant source of export revenue that contributes to the country’s GDP. An essential role in tourism development is played by tourism suprastructure, i.e. accommodation establishments and enterprises providing catering services. The research aim is to examine the tourism suprastructure in the regions of Latvia. The research aim has two subordinate tasks: (1) to exami...

Everyone needs protection, whether if we think at individuals or legal entities. Throughout a lifetime, are accumulate a series of goods, values, agonized with a lot of labor, which can disappear in a moment following a fire, an earthquake, a theft or some other reason. The resulting financial loss can not be offset otherwise than by insurance. The insurance market is a framework in which insurance transactions are carried out only on a contractual basis. Here are found the insurance request, coming from individua...

Gross Domestic Product (GDP) is one of the most important indicators of the system of national accounts, which characterizes the final result of the production activity and dynamics of the market value of all final goods and services, produced during the year in all sectors of the economy in the territory of country for consumption, export and accumulation, regardless of national appurtenance of used production factors. For proactive management of territorial development of the national economy, it is important to...

The article deals with the prospects of interstate cooperation in the framework of the Eurasian Economic Union (EAEU) - Russia's integration project - and the Silk Road Economic Belt (One Belt, One Road - OBOR) - China's initiative of building land trade routes from Asia to Europe. The author points out that the political consensus reached on implementation of the EAEU and the OBOR between the leaders of two countries significantly reduces geopolitical risks in Russian-Chinese relations and clarifies rules of regi...

The decision on the capital structure is one of the important decisions the owners of the corporation have to make. This decision affects the risk and the return on the capital invested by the owner. The aim of this paper is to analyze how the agricultural sector in Europe uses the debt capital in its funding. The factors used for the analysis of the agricultural companies debt capital level are the size of the agricultural unit, the country of its operation, the time period, the return on assets before interests ...

Historical literature and numerous medieval fortresses offer great premises for the development of cultural-historical tourism in Romania. Fiction tourism also fits into the general picture of tourism consumption. The phenomenon seems to lure ever more tourists that are interested in legends and myths. The tighter/closer the connection between the myth and the historical character, the stronger the attraction seems to be. The methodology of the paper is based on the determination of historical truth by a thorough ...

The article seeks to identify the most important predictors of profit of credit institutions. This involves the use of multiple regression for econometric modeling of several variables on the results of banks’ operations. The study aims to show the capabilities of multi-factor regression in the analysis of credit institutions. The paper proposes a methodological approach to the measurement of marginal predictors of credit institutions. The authors use special techniques to adjust the models to avoid a collinearity...

Air transport is one of the youngest transport industries, yet in a few decades of its existence, it has built a monopoly position in the transport of people, mail and some types of cargo for very long, long and medium distances. Air transport is also the main transport mode in the international transportation. There are even some destinations that are served only by air transport. For transport operators such as transport planners, airlines, airports and aircraft manufacturers, knowledge of air transport demand i...

In the process of studying the modern role of the insurance market potential in the Russian Federation and the prospects for its development, there are inevitably questions about the reasons for its underestimation and its failure to fully perform its functions in the system of ensuring the economic security of the state. The National Security Strategy of the Russian Federation defines various ways of ensuring state and public security, the ecology of living systems and rational nature management, economic growth ...

The conditions for the formation and effective use of human capital are the leading factors in innovative development, the determination of a country’s competitiveness, and the social and economic well-being of citizens. In the context of globalization, there is a growing role for the study and adaptation of the social and educational policy tools used by countries that are leaders in the knowledge economy. The data from the Programme for the International Assessment of Adult Competencies have made it possible to ...

This article is devoted to a critical analysis of modern theory and practice of building economic indices in the national system of strategic planning. It is generally accepted that economic indices serve to characterize the most important dynamic processes in the national economy, and the dynamics of changes in economic indices makes it possible to determine the rate of change of the most important macroeconomic indicators and proportions. Since strategic planning is aimed at obtaining internally consistent descr...

This article is concerned with the study of fuel and energy companies’ influence on the regional development. The base material sector is the basis for the development of productive forces and increasing the competitiveness of the Russian economy. Correlation analysis of indicators for the period 2000–2015 used in the article allowed to make an objective assessment of the energy sector state, as well as to identify the dependence of oil companies’ revenue on various factors. The analysis revealed the significant f...

In this article the mechanism of formation and functioning of creative spaces of territorial formations of the Russian Federation. This mechanism is considered as part of the concept of development of territorial entities and economic security of the country. The proposed mechanism will contribute to innovative development of territories associated with environmentally friendly use of former industrial buildings in the city, former industrial areas and improving the quality of life of the population, which will be...

Background: Working capital is an element that has a significant impact on the financial security of an entity, its profitability and the efficiency of its asset management and its selected liabilities. Working capital management is designed to keep an enterprise engaged in its day-to-day “financial health”. This is a complicated and time-consuming process because it involves the management of current assets and current liabilities. Therefore, it is important to choose appropriate management strategies for individ...

It is known that the information acquired before the journey is essential for building visitor expectations and behavior. With its increasing role as information and communication tool, internet has become a key factor for destination image formation. Specialized travel websites in particular have a major contribution to building and communicating destination image, especially those with user generated content. Perceived as more objective, personal visitor experiences shared online are much more convincing and inf...

The article deals with the economic driving forces that provide students with possibilities to choose an optimal educational path. In our research we combine the theory of human economic behavior and the methodology of increasing efficiency of the human capital. We develop an econometric model of optimization for higher education and individual choice-making of educational paths. The proposed model is tested with the support of a specially established software on the basis of the real statistic data for more than ...

One of the derivative securities is IRS and this implies the values of these instruments are determined by the assets that are underlying. IRS’ are a derivative security, and it implies their valuation is determined by the underlying assets. In that regard, assets refer to interest rates and loans. A swap involves the exchange of two cash flow streams by two parties. On the contrary, when dealing with swap interest rate, the cash flows refer to the payments of interest based on an amount of money. In this context,...

In a lease agreement, when it comes to determine the residual debt at a given date in case of insolvency or continuous arrears (i.e. an early termination, before the maturity of the lease plan), often the contract decides upon the penalties and some lump sum refund for impairment. Accounting purposes require both the lessor and the lessee to calculate separately for the amount of the outstanding debt and the agreed-upon for the impairment and the penalties. In this paper, the authors propose a model for a precise ...

One of the greatest challenges at the current stage of Russian regions development is the transformation in the structure of production markets demand and supply. On the one hand, technological innovations caused by changing consumer’s needs affect the demand and supply equation parameters in the production and resource markets. On the other hand, imposing of international economic sanctions against Russia has stimulated shifts in both the demand for competitive domestic products and the supply of domestic goods a...

This article is dedicated to intellectual capital overview as part of country innovation development core factors. In the article the theoretical analysis of approaches to intellectual capital definition concept, essence and structure. Provided intellectual capital definition original interpretation, structural components allocation is given. The analysis and comparison of innovation development in various countries conducted in terms of patent activity, the volume of shipped innovative products, changes in the al...

Currently, the role of investment both in global and national economies is extremely high and is one of the most pressing problems. With the growing number of transnational corporations and their branches in most of the countries began a new stage in the development of international investment relations. As a result of increased export of capital over export and import goods, the Russian economy suffers from an acute shortage of foreign investment. It is necessary to create a favorable climate and to develop a sys...

In 2008, the global economy experienced an acute phase of the crisis. The impact of crisis phenomena on the national economies of the world was not the same. The government's measures on anti-crisis regulation were different. Today, economic growth began. But the structural problems that caused the crisis are not fully overcome. The purpose of the article is to identify, using quantitative analysis methods, the specifics of the development of the crisis in different countries of the world, as well as to determine ...

The historically formed heterogeneity of the socio-economic space has a significant impact on the structure and efficiency of the development of the northern territories economy. Economic development of the North becomes stable if the territory settlement, the preservation of the traditional economy of indigenous peoples, as well as rational land use take place simultaneously. One of the focus areas for northern economy diversification is tourism, which is now one of the fastest growing sectors of the world econom...

The article presents the methodological aspects of control and analytical functions in the internal accounting system. Attention is focused on the problems of the organization of an effective system of financial accounting. The essence ofthe main approachesto the organization ofthe internal control systemis to determine theset ofregulatoryprocedures to ensurethe reliability ofaccounting data, thereforeimproving the quality ofinformation,tax recordsare of particularimportancein decidingthe users concerned. Discusse...

Small and medium sized companies are reasonably considered as the backbone of the economy many countries. Thanks to their simple structure, they can respond quickly to changing economic conditions and meet local customers´ needs, growing sometimes into large and powerful corporations or failing within a short time of the firm´s inception. Therefore, they are significantly different from large companies from the credit risk point of view. We would like to show the importance to assess the SMEs credit risk separatel...

In the context of the need for cost reduction and consumption of electric energy, and environmental protection, the need of a continuous investments in clean technology, honorary in terms of pollution, transforming and improving the existing capacities of the production and distribution of electricity also upgrading infrastructure and services, necessary. The evaluation of savings through the regulatory process in order to achieve efficiency in electricity market, is necessary to establish the measures for the eff...

Accounting is an applied science, with its theories/methodology practically applied in business entities, and also its well-defined practical main purpose - meeting information needs of stakeholders. The information generated in accounting system, and later disclosed to outside recipients, is diverse in scope, form and value/quality, which results e.g. from the possibility of making creative financial and accounting decisions (so-called “the right to choose” in the accounting policy) and from accountants’ behaviou...

The article discusses the features of the economic category of "workplace", which have a direct influence on the choice of the performance criterion in estimating the amount of highly productive jobs in Russia.

The sales comparison approach (SCA) usually represents the most important valuation approach. Besides this approach, there are two other performing valuation approaches at other bases. The sales comparison is a set of procedures, in which an appraiser derives a value indication by comparing the property being appraised to similar properties. Real properties vary considerably from one another, which is reflected by price-setting factors. Although price adjustments (caused by differences projected into price by the ...

Social media have become a driver for substantial changes in a number of fields, including business, education and learning practices. They are present in a dominating way in lives of young people in Bulgaria. This study examined the university students’ perceptions/adoption of social media based on the example of the students at the University of Economics – Varna (UE-Varna), Bulgaria. Data was collected and analyzed from online survey of 378 undergraduate students both from bachelor and master degree programmes....

Sustainable competitiveness as a concept is introduced in the scientific debate in the last two decades. It is addressed on considering economic, social and environmental factors that determine competitiveness in the long run. The paper is focused on measuring sustainable competitiveness at the national level. Two indexes are considered: the Sustainability Adjusted Global Competitiveness Index (World Economic Forum) and the Global Sustainable Competitiveness Index (SolAbility). The paper compares sustainable compe...

The tourism of the last 60 years has been constantly expanding and diversifying, becoming one of the most dynamic and largest economic sectors globally speaking. According to data provided by the National Institute of Statistics (INS), between May and August 2016 in Romania, 3.8 million Romanians and 1 million foreigners have spent their holidays, twice as many as 6 years ago. Regarding foreign tourists who visited our country during the summer, most of them, more than half a million come from Germany. The followi...

The main objective of this paper was identifying the needs, wishes and expectations of Romanian customers in connection with their holidays, to the purpose of attempting the rebound of this economic branch, and the increase of the interest of as many potential customers as possible for Romania. The reason for choosing this topic resulted mainly from a desire to offer relevant information about a real-life situation on the Romanian tourism market, in which Romanians prefer spending their holidays abroad. In the res...

The industrial complex of Russia is one of the leading sectors of the national economy and a key component of the expanded production in general, ensuring the formation of more than 37% of GDP, over 32% employment, and more than 40% of the consolidated budget of the Russian Federation. Until 2004 inclusive, industry was regarded as an isolated, the largest branch of the national economy, consisting of isolated industries, operating exclusively in the sphere of material production. Since January 2005, the branch sy...

The number of migrants in EU countries has increased sharply since 2000. Successful implementation of integration policies is therefore very important. While immigrant integration policies remain a competence of the Member State, the European Commission proposed the initiatives to promote integration. The first part of the article describes the latest developments in integration policies in the EU countries. It shous that new policies are being developed in the EU countries and that they are implemented on a wide ...