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In the present-day context, economic growth based on the cluster-oriented approach is considered to be one the most rewarding and effective mechanisms to improve the competitive strength of the regions in the country, as well as stimulate the innovative activity within the advanced social and economic development areas. The industrial cluster sustainable development model would be impossible to be implemented without setting up a definite management mechanism and system. As such, this article outlines the framewor...

The accounting profession is facing a critical turning point, on the background of global rapid pace technological changes. At the same time young accountants and employers, as well as accountants’ professional body are aware of witnessing challenging, dynamic times which greatly redesign future career patterns and pathways. Accountant’s role moved from a static one into a key advisor of the business, due to the broad range of skills to be continuously acquired, learning and digitization opportunities. The paper a...

The topicality of the paper is predetermined by the importance of competitiveness assessment and development for most modern companies, operating on the global arena in the era of globalization, business internalization and the growing opportunities of global sourcing. The term “competitiveness” can appear ambiguous, as competitive abilities of a product on one market can be outperformed on other markets. This trend pushes the companies to the development of more multifactorial strategic approaches in order to mai...

Ensuring a decent standard of living is one of the most important issues that any state is called upon to resolve. Taxation and other obligatory payments levied on citizens have a direct impact on the size of real incomes of the population. Experts predict that the fiscal burden on the population in 2019 in the Russian Federation will increase significantly. At the same time, the situation may worsen due to a fairly high level of inflation, the growth of which in 2019 is predicted by many experts. In addition, aga...

The central counterparty (CCP) is that market infrastructure entity that comes between the parties of a transaction, becoming a buyer for each seller and a seller for each buyer, thus ensuring the proper execution of transactions in the process of settlement, or of the obligations relating to open positions. This market infrastructure entity can provide guarantee services for transactions based on financial instruments carried out both on the spot trading venues and on the venues specific to the derivatives market...

In a circular economy we have to rethink, redesign, reduce, reuse, recycle, and recover the waste through a circular economy which is generating a valuable chain between raw material producer and consumer. Economic circular models could be shaped into short cycles, long cycles, cascades, pure cycles, dematerialized cycles and production on demands. Using these models and adapt them for agriculture we save a lot of resources, being able to decouple substantially production by resource extraction. An agri-food syste...

Image is a key factor in attracting first-time visitors, and the environment of a destination plays an essential role in their decision to re-visit it. The aim of the study is to ascertain the moderating effect that cognitive and affective components have on the overall image and relationship with destination loyalty. Twenty-four distinct constructs are identified, five of which are about the cognitive aspect, eleven are about the affective aspect, five are about the overall image of Bulgaria as a spa and wellness...

In the paper, we propose an original approach to financial statements fraud risk assessment based on the augmentation of existing risk-oriented audit concept towards taking into account the behavioral aspects. We propose to divide the fraud factors into two groups. The first includes environmental factors. The second involves the individual characteristics of the people who are responsible for financial statements reliability. In the second group, we are identifying the basic individual features that associated wi...

This paper explores the particularities of accounting system that serves as the main source of data for analyzing and managing small farm performance in Latvia. Although the topic of accounting in small companies has already been discussed in the literature, there is still a dearth of research on challenges faced by small agricultural holdings. The paper attempts to fill this gap in the literature by providing an insight into highly unsophisticated systems for aggregating and processing data used by some small far...

Cuba is one of the fastest developing tourist regions in the Caribbean, this dynamic growth in tourist traffic is caused by the increased investment in the tourism infrastructure. Since the '90s a trend in the tourist infrastructure can be observed, where building all-inclusive hotels in the coastal region has become increasingly popular. In Cuba's case those were usually closed areas – tourist enclaves, where only foreign tourists and cuban staff could reside. Thus the tourist regions were located in isolated pla...

Analysis of the present condition and prospects of development of financial markets in Russia and abroad allowed the author to identify risks and provide specific recommendations to improve Russia's economic policy in the new geopolitical reality. The paper aims to examine topical issues on the current status and development prospects of the Russian monetary economy. Developing economy of Russia plays a special role in contemporary world. Financial market is of particular importance for the development of the Russ...

Hotel service in its essence is a dynamic process, stimulating appliance of various technological innovations, which in turn create convenience and real experience to hotel guests during their stay. Artificial intelligence and virtual reality, mobile applications, digital key and kiosks, voice assistants, chatbots, robots and many more modern technologies play essential role in achieving competitive advantages in the hotel industry. Their effectiveness and appropriate implementation rely entirely on end users’ per...

This article considers the digital transformation of agriculture, its development and links to the digital information economy of the state. The relevance of the article is due to the growing importance of the digital economy on a global scale and its impact on all spheres of the state economy. The purpose of the article is to analyze the current state of digitization of agriculture as well as to develop questions about the development of the information digital economy and the introduction of information and comm...

This research studies Eastern Europe’s attractiveness for private equity investors in terms of each of the seven main drivers identified by the following authors : Black and Gilson (1998), Gompers and Lerner (1998), Jeng and Wells (2000), Romain and de La Potteria (2004), Felix et al. (2007), Groh (2009), respectively Bernoth and Colavecchio (2014). We use aggregated data from Eastern European private equity market during 2000–2013 as well as macroeconomic data, to estimate a panel data model. The main seven drive...

The credit expansion in the household sector, which then stimulated the growth of personal consumption in Croatia, preceded the occurrence of the global financial crisis and the six-year recession that lasted from 2009 to 2014 in Croatia. With regard to enhanced household borrowing in the years before the crisis, there was multiplied effect caused by the inability to settle all the due liabilities in the period after the crisis. In parallel with the legal regulation, which prompted from the beginning of 2011 the F...

At present an economic management of any administrative region (territory with fixed legal boundaries) is impossible without modern technologies of spatial analysis. Administrators of power structures use every opportunity to ensure that the management of the region is based on the automated processing of spatial data and particularly on remote sensing data. First of all, the possibilities of Geographical Information Systems (GIS) are used such as data collection and systematization, automated analysis, compilatio...

This study aims to explore the main economic trends in the performance of the agricultural sector of ten new Member States in Central and Eastern Europe (CEEC) after joining the EU in 2004 – 2007. The study is carried out applying the methods of economic analysis including trend test methods and a comparative analysis. The authors have used data that are comparable across the EU countries and have been processed according to the unified methodology of the Economic Accounts for Agriculture (EAA). Specifically, the ...

Health tourism as a niche has emerged and has rapidly grown to become a very significant and promising industry. In the European Union, health tourism market is definitely a new and strong trend, with total revenues of 46.9 billion EUR, which is equal to 4.6% of all tourism revenues and 0.33% of the EU-28 GDP in 2014. The purpose of this paper is to describe main attributes and to analyze some of the health tourism challenges in Italy and Croatia. In addition, the financial effects of these health tourism markets ...

Commuter rail transport in Russia plays a leading socio-economic role. Passenger traffic by rail in some regions reaches 90%. Practically there is no alternative to this type of transport in many regions. Commuter rail transport is in demand among citizens who have the right for preferential travel, as well as among people with low incomes. Regional authorities determine the cost of travel for such society groups below the actual cost, and the loss of income of the carrier is compensated by providing subsidies fro...

This paper explores the role of the EU Farm Accountancy Data Network (FADN) in assessing the evolution of agricultural holdings and their contribution to the national economy in Latvia. Although a significant number of previous studies performed a statistical, econometric and comparative analysis of figures extracted from the FADN database, there is still a dearth of research on the importance of the FADN and its integral elements for the provision of detailed and reliable information required for sustainable deve...

The impact of the food sector on achieving the sustainable development goals is increasingly debated worldwide amid growing climate change effects and on the background of a lack of quickly responses on mitigating them. Initially, the state of the art is quantitatively analyzed for emphasizing the scientific evolution on food consumption in the context of sustainability and the main themes discussed by researchers. Further, several indicators on food consumption expenditures, daily calorie supply, emissions, waste...

Objective: The objective of the study is to assess the provision of social infrastructure in the context of municipalities with the construction of a rating based on the developed methodology. Methods: A method is proposed for calculating the integral index of the social infrastructure of municipalities according to the level of indicators and taking into account the dynamics of its change. Findings: The presented methodology for assessing the provision of social infrastructure was tested on the example of municip...

Nowadays solo traveling is an emerging market in tourism industry. It is relatively new type of tourism which forms express the communities’ will to have entire disposal of their choice and freedom. The purpose of the current study is to assess the available resources for developing solo tourism in Bulgaria. The used methodology consists in application of Hartmut Bossel’s system-based approach where the destination is divided into three large subsystems - human, support and natural. Based on the results from a con...

The article devoted to development and implementation of long-term forecast of the development of public infrastructure in the Russian Federation and its integration into the system of strategic planning. The life cycle of many infrastructure objects (transport, energy, social, etc.) is tens and hundreds of years (railways, sea and river ports, airports, etc.). Various forms and models of public-private partnership are in demand during their creation or modernization in the conditions of objective budget constrain...

Every business subject strives to achieve the highest possible prosperity and profitability of its business in connection with the fulfillment of its business mission and achievement of the set strategic goals. Successful sales of products and services to customers are a prerequisite for achieving the set goals. Customers are one of the key to future business development, so it is very important for enterprises to pay attention to customer relationship management. Customer Relationship Management is a process of i...

In the last 40 years, damage to natural disasters has registered a 14-fold increase. Since 1990, losses from natural disasters have exceeded 700 billion USD, and 70% of global economic losses are still uninsured. The existence of such large deficits proves that market mechanisms have not been very effective, and if this trend continues, it is estimated that around 2065 the world will spend all the economic growth accumulated with the response to these disasters. Financial resilience, especially in the case of deve...

Noise from road transport is understand like a negative phenomenon which affects human health and causes them physical and mental harm. A part of road projects efficiency evaluation should be quantification and monetization of negative impacts from the road transport. At present, the handbook of Cost benefit analysis (CBA) is used for quantification and monetization negative impacts of noise in Slovakia. The handbook has some deficiencies and do not take account character of noise, like a type of road surface, bar...

Varna may have great potential but the city could not still attract enough conference tourists. The aim of the study is to estimate the factors influencing the attractiveness of Varna as a destination for conference tourism. The sampling group of the study comprises a total of 53 experts and specialists in the field of tourism. For the purpose of the study, a questionnaire has been designed to gather primary information about experts’ perceptions of Varna as a conference tourist destination. To assess the potentia...

This article analyses the aspects of the development of relationships in intercompany networks. For these purposes, the authors summarized data from various studies of Russian and foreign scientists. Also, the article summarizes the results of studying the issues of interaction efficiency both between the network participants and between partners and the network. Emphasis is placed on the ability of a central company to manage individual relationships, a portfolio of relationships, a central network and an industr...

Currently, the socio-economic environment seems to be starting to go through a difficult situation, similar to global financial crisis that began since late 2007. In this respect, we emphasize what A. Einstein pointed out: „It is in crisis that invention, discovery and large strategies are born”. Not only the effects of the latest crisis are still felt, but, moreover, the imminence of a new global crisis that seems to spread its tentacles towards Europe is debated upon. This puts into question aspects related to t...

Mining regions are traditionally most technogenic pressured and transformed during the exploration of mineral resources. In each country producing mineral resources the problem of restoration of damaged territories is especially significant because of a variety of consequences of the destruction of natural complexes: latent/ hidden effects, secondary pollutions and destruction of soils and state of groundwater, complex of consequences for the biota. In Russia, i.e., currently there are more than 340 large scale ob...

We need to think that an ecosystem is working for us all time, proving a constant flow of resources as economical input, sustain life and all necessary condition for the agricultural activity, creating a mechanism that is wider than our comprehension. An agricultural ecosystem is producing food, fuels, non-food products. This activity is depending on the ecosystem service, by water, climate, soil fertility, carbon sequestration, biodiversity as genetic reservoir. Usually the connection between agriculture and ecos...

Economic security is largely determined by the quality of the integrated reporting's assessment. The article is devoted to the research of the adaptation of authorial analyzing methods the impact of capitals state changes and stakeholders' economic behavior on the change in the company’s created value to ensure the economic security. The study is based on the value maximization concept of the firm, which is created when interacting with stakeholders by accumulating and transforming their resources. The paper propo...

Pesticides are intended for the control of pests, weeds, pathogens and other factors that cause damage to plants. Pesticides include substances to combat these harmful organisms, but also substances such as growth regulators, desiccants, vegetable and fruit cleaning substances, and substances applied during storage and transportation of production. The use of these pesticides for developed countries is a current concern. The purpose of this study was to conduct an analysis of pesticides used in Romania during the ...

The article presents a theoretical analysis of existing approaches to assessing threats to the state economic security. The analysis revealed three main methods for assessing economic security: a simple rationing method based on a threshold value, a complex rationing method based on a threshold value, a rationing method for amount of discrepancy. These methods, despite the presence of specific features, are implemented in a certain sequence. As a result of the synthesis of methodological approaches, the authors ha...

Commuter rail transport in Russia has been assigned the lead socio-economic role in meeting the mobility needs of local population. The social significance of rail transport lies in its demand among those citizens who have the right for preferential travel, as well as among people with low incomes. Regional authorities set up the cost of travel for such society groups below actual cost. Losses in the income of the carrier are compensated by providing subsidies from the budgets. The mechanism for delivering budget-...

Environmental pollution, adverse spawning conditions, as well as intensive fishing and other factors have negative influence on fish stock condition, thereby causing fishery enterprises problems to plan their activities in long term. This causes significant consequences not only for the Latvian fishery sector in general, but also for the development of coastal areas and national socio-economic growth. In the modern global economy, competitiveness is put forward as one of the conditions for economic recovery. The c...

Research over the past 20 years has shown the enormous role of tourism in the economies of most countries. First of all, it allows solving problems of stimulating social development of regions. Tourism has a stimulating effect on such sectors of the economy as transport, communications, trade, construction, agriculture, production of consumer goods and contributes to the development of practically all sectors of the economy [1]. In the late 70s of the twentieth century, ecological tourism becomes one of the most p...

The purpose of the present paper is to assess the relevance of several notoriously applied financial indicators to construct an appropriate risk evaluation structure for enterprises. The authors aim to include in the empirical study a wide array of variables, grouped into clusters, to match the complexity implied by the data collected from 100 Nasdaq quoted companies, based in 9 countries, from 8 industries. The methodology employed is the Principal Component Analysis, which supports in capturing the most signific...

Today in Ukraine, the issue of organization of recreation becomes a priority issue not only in the physiological-psychological aspect, but also as a socially-organized function of people's lives. It provides an opportunity for an integrated combination of recreation, tourism and excursions, in order to promote the development of tourist excursions. Natural, cultural-historical and socio-economic resources of the region, as well as the presence of territories and objects of the nature reserve fund are important fac...

Marketing of organic food products is a topic of interest taking into account the upward trend of these products globally. Promoting eco-products is an approach to the increasing demand for high quality consumer products. Organic marketing is important because it can help protect the environment and preserve biodiversity, increase food security and can contribute to sustainable development of agriculture. The paper aim was to analyze consumer preferences in southern Romania concerning organic agri-food products. I...

The drinks sector has increasingly diversified lately on the basis of complying with the consumers’ demands as well as on the necessity of adopting sustainable practices imposed by the resource depletion and climate change challenges. This research aims to present an overview of the drinks market at Romanian level since 2013 by considering also the sustainability component. Two methods are applied for a better analysis of this subject: the bibliometric analysis and the statistical analysis of the drinks market. In...

Developing and building of road infrastructure is one of the state priorities. At present, a need is not build only new roads, but also improve existing road network. Many of roads do not meet the requirements for traffic flow and safety. The roads with these conditions require reconstruction. The one of the roads with bad conditions is road section I/18, which is located between villages Lipniky and Hanusovce nad Toplou. The road section is not meet requires of traffic flow and road safety. The road section is lo...

Project management represents a modern analytical approach for managing the phases of project cycles that support strategic goals and programs. The aim of this research is to create a unique rounded theoretical and applicative basis for understanding and using the concept of strategic management within the higher education projects in North Macedonia. After the completed studies of the theoretical aspects of strategic project management, a comprehensive analysis was conducted on the projects supporting the strateg...

The article presents logistical aspects of the economic security system. The determinants of economic security are presented, and the monitoring and hazard indicators of the analysed security are analysed. The role and tasks of logistics in shaping the country's economic security as well as a comprehensive strategy for improving economic security are presented. Analyses and research revealed that it is important both cognitively and for economic practice to learn the mechanisms of efficient logistics. Logistical p...

This article is about the problems of the development of the indebtedness of the firms in different branches in the USA and in the Europe. The analysis of this development is important besides other things for the purpose of the identification of the average indebtedness and so-called branch standards that can be used for the process of optimizing of the capital structure. That is the topic inviting for the large discussion and very large researches which plays an important role in the sphere of the financial mana...

The relationship between economic growth and unemployment has been a topic of interest in academia for almost 60 years but with a special focus on developed countries and only recent papers present results at the regional level. This paper analyzes the regional Okun’s Law in two emerging countries, namely Bulgaria and Romania applying original data. To best achieve the research objective, we consider the widely valued specification of Okun’s Law, that investigates the relationship between the cyclical components o...

This study aims to clarify the ways in which the authorities involved in place brand management choose to use new technologies to communicate their online identity, within a broader context, defined by circular economy. We focused on a methodology repository, applying an already validated instrument, which could generate standardized and comparable results, from previous research, addressing the online identity of place brands issue. However, exploring contextualization, which is now mandatory for place brands in ...

American social enterprise. In the background of this basic comparison, the analysis attempts to locate the Polish model of social enterprise This study is going concern difference in definitions of social enterprise and conception of national models these entities including polish model of social enterprise The aims is of this study is to show that economic and social results of the participants in the Anglo - Saxon models (Amer-ican and English) are the most effective however comparative studies of models show t...

Marketing communications mix consists of eight major modes of communication – advertising, direct marketing, events and experiences, interactive marketing, personal selling, public relations and publicity, sales promotion, and word-of-mouth marketing – but a fully integrated communications mix also includes email marketing, partnerships / promotions, and social media. The most powerful touch-points are Internet, mobile phones, social media, and TV. Innovative media such as interactive video, mobile developments, s...