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It's generally known, that financial security plays one of the key roles in the system of the state control and economic security. At the same time, it affects the majority of elements of economic security. Because of the lack of funding for some economic areas, damaging not only the economic but also the national security as a whole. Financial security - a concept capacious and complex, it includes many measures and techniques, as well as the means to protect the economic interests of the state. This article is d...

The modern economy is at a critical stage in its development. The deep causes of the 2008 economic crisis have not been fully overcome. Disproportions are observed in the economic system of the world and in individual countries. Their elimination encounters institutional constraints. One of the disproportions is caused by the de-industrialization of the economies of the developed countries of the world. The same phenomenon is observed in Russia. Consequently, it is necessary to carry out a "new industrialization" ...

Tax policy is one of the main instruments of economic policy of any state. It is realized through the establishment of goals, objectives and specific quantitative parameters of revenues and the country's budget. Condition of public finance has a significant impact on the real economy. So, the choice and justification of the measures, decisions and actions in the area of tax policy, directed on realization of conceptual ideas within the existing Russian economic policy is one of its key contents. The article is ded...

The article considers the organizational and economic aspects of the problem of municipal solid waste (MSW)’s formation and placement. This problem becomes more and more relevant for the cities of Russia including the Sverdlovsk region. Referring to foreign experience, we demonstrate the necessity to form an effective MSW’s management system in Russia via required reforming based on the laws and regulations. Comparison of the existing options for MSW elimination shows that the cheapest but inefficient option from ...

In modern conditions of economic globalization and technological intensification, the international interaction reaches beyond the trade cooperation. Nowadays the competitiveness of countries is determined by their place in the international division of labor and the involvement into global value chains. Value chains could be defined as steady groups of companies formed by combining complementary and cooperative activities to create a product and bring it to consumers. Different types of networks have different st...

The development of the modern economy is multifaceted. Apart from quantitative changes, it continuously experiences structural transformations. One significant trend in these transformations is the increase in the share of services in the total GDP produced[1, Volkova]. Despite the wide variety of views on the urgent necessity of fast-paced development of the economy’s industrial sector[3, Petrov, Karpova, Khoreva], it must be noted that economic analysis can be normative or positive. From the perspective of norma...

The innovativeness in a company is part of its intellectual capital and the latter is proxied and measured by the underlying company’s intangible assets. The concept “intellectual capital” contains all the knowledge and experience a company’s employees have, the information and the intellectual property that are combined and create wealth for that company and can be proxied by the value of a company’s intangible assets. After the 1990s the issue of intellectual property has been the focus not only of the researche...

The paper aims to analyze the marketing mix in the technical university education services. The most important particularities about the higher education services are about the marketing mix. Regardless of the field, it builds on the basis of the four traditional elements: product, price, placement and promotion. In the case of educational services, the marketing mix expands with three other elements: people, processes and physical evidence. All the elements of the marketing mix are interdependent. The people are ...

HR segment belongs to the largest and most complicated part of company activities. It used to be called personnel dpt. Current HR plays a professional role in recruitment, hiring, adaptation, training and in assessment of employees´ performance. This article deals with these issues. The development requires permanent improvement of employees´ habits and abilities. Required training and education of employees is inevitable. The company income depends on its personnel qualifications, on customers´ opinions, on an ov...

The paper is devoted to the role of information context in dynamics of investments in the Russian Federation. The basis for the study was a selection of news from major Russian TV channels for 2006-2016. The news available to ordinary viewers of the three main Russian television channels was analyzed. News was defined as negative or positive using two methods: according to linguistic characteristics and their economic meaning. In obedience to the results of the study. Increased uncertainty (the spread of positive ...

The paper deals with financial reporting of not-for-profit organizations in the Czech Republic. Non-for-profit organisations do not have making profit, but they achieve benefits for their clients from performed services, as a primary goal. Services are obviously provided at a price lower than market price or even free of charge, therefore not-for-profit organizations take a variety of sources for financing the provided services. Financial reporting in the Czech Republic is regulated by legislation, primarily by Ac...

The article proposes the indicative system of sustainable development of the region that contains thirty indicators grouped into ten projections (macroeconomic sta-bility, industrial development, food development, energy development, financial sus-tainability, personnel development, innovative development, social development, envi-ronmental development and economic development). Each of the projections has three indicators. We have chosen threshold value for each indicator. The choice of threshold value was made f...

The aim of this article is to present the results of a study devoted to the analysis of problems and search of possibilities of interaction between banks and small businesses. The analysis is based on a review of data of borrowers of regional banks of Nizhny Novgorod region in Russia. The study orientated on systematic and comparative analysis of scientific literature, analysis of statistical data. The main method of study is a formalized focused interview of the responsible officials/business owners. Among the pr...

The government deficit and public debt are always a negative economic phenomenon as a consequence of non-compliance with fiscal discipline. Chronically recurring deficits and consequently resulting debts are the current topic discussed by theoretical and economic-political authorities. The Maastricht Treaty and the Stability and Growth Pact stipulate that the government deficit should not exceed 3 % of GDP and the public debt is considered excessive if it is higher than 60 % of GDP. The growth of the government de...

The aim of this paper is to analyse the influence of the European Union accession and financial crisis to convergence and integration of the bond yields and bond markets. The results show the deepening of bond market convergence after the European Union accession and the integration has continued until the end of the observed period. The chosen indicators are monthly mid-term bond yields (10-year bond yields). The period of 1/2000 to 12/2016 was chosen in order to show the impacts of the changes. The time period w...

The objective of the study is an adaptation of the survey method for the preliminary evaluation of the Rural Development Program (RDP) in short-term, when the quantitative data for the period is not yet available. A survey of agricultural holdings and enterprises (i.e., on-line questionnaires with an e-mail notification) was therefore designed, equally targeting the units supported and non-supported by the Program. The survey covered all regions of Latvia, with a total of 867 responses obtained. The responses were...

International labor migration significantly impacts on the process of economic integration for developed labor markets. Labor migration on the territory of countries of the Commonwealth of Independent States is directed to big labor markets in Russia and Kazakhstan. In this article we describe a model, that takes into account the feedback of average salaries defined by the supply of labor resources, affecting migration processes between countries of origin and destination. The model takes into account the influenc...

Modern economy is characterized by significant strengthening of integration processes caused by the deepening of relations between countries, international trade liberalization, scientific and technological progress, development of productive forces and the deepening of international labor division. This results in the formation of regional associations, which are evolving progressively into independent centers of the world economy. The article highlights various aspects of the integration processes in the common ...

The relevance of this study is due to the need to improve the methods of industrial policy formation.The development of industrial policy is the area of strategic management of the state and economic entities. The application of mechanisms and instruments of industrial policy should be based on the principles of regulation, coordination, promotion of the most priority areas of activity. Due to the limited resources of any kind, as well as the type of tasks to be solved, the problem of selecting priority options co...

The article describes the features of personnel policy formation of an educational institution. The essence of the personnel policy work with the staff corresponds to the concept of educational establishment, ie the personnel policy of any educational institution – it is an integral part of the strategic policy oriented organization. Personnel policy is a powerful strategic tool for the staff of the organization management system.

Evaluation of the attractiveness of industries is an urgent problem in solving a number of problems both at the business level and at the level of public administration. This task is relevant in the selection of priority sectors, for example, for investment or allocation of government support measures. However, little attention is given to this issue in both scientific and regulatory work. Industries are valued only in terms of output and profitability. It does not take into account the fact that the solution of v...

The main purpose of the paper is to analyze the economic development of construction companies in the monitored period during the crises. The economic development is performed with the financial indicators, which express the performance and the financial stability of the construction company. Financial indicators are represented mainly by the Return on Equity (ROE) and indebtedness of the company. The methodology is based on the collection of information from accounting statements (the balance sheet, the profit lo...

During the Second World War in Poland in the years 1939-1945 several million people died at the hands of Nazi Germany. Commemoration of the people who were murdered in concentration camps, extermination camps, ghettos, prisons, and during mass shootings, and those who were killed in warfare and uprisings, is an essential part of the remembrance of these inhumane crimes, as well as a warning to future generations. One form of commemoration of the victims is dark tourism. Every year millions of people (tourists) fro...

Robo-advisors are online wealth management platforms that provide tailored automated investment solutions. First platforms were located in Silicon Valley in 2011 and since then have enjoyed continuous success among private investors all over the world. Thanks to the simplification of the relation between investors and advisors through digitalisation, low fees and good performance achieved through the use of personalized algorithms, new investor segments are approaching to digital wealth management. Although the It...

In his whole, rural tourism includes a wide range of accommodation modalities, of activities, events, festivities, sports and entertainments, all running into an environment with rural specific. Therefore, rural tourism represents an concept that includes the tourist activity organized and managed by the rural local population and which has on base a close relation with human and natural environment. Agrotourism comes, in the frame of rural tourism, as a complementary activity, that fructify the surplus of accommo...

Objective of this research is the finding of the reasons of the economic, political, social and other public crises which became frequent for the last century and happening in various countries, the finding of possible ways of elimination of these reasons. According to the theory of the self-organizing systems, each of these crises separately is manifestation of failures of the existing relationship between people and of the associations of people. But the observed reproduction and combination of crises in all dir...

The study highlights the financial performance of the activity by analysing revenue, expense and profit indicators. Information used is the data entered in the Profit and Loss Account, which presents the statement of income, expenses (by component) and profit or loss. The financial results are analysed for the period 2014-2015, the analysis method used being the time comparison. This method evaluates the results in units, in dynamics, and highlights the deviations from the terms of reference with which it operates...

Background: Tourism industry belongs to the relative young and dynamically expanding sector of economy in post-communist countries. According to Czech Ministry of Regional Development tourism industry created on average 3 percent of gross domestic product in last ten years in the Czech Republic. The study is focused on travel agents whose main task is to mediate tourism services and take the form of travel agencies and tour operators. The paper aims to assess the financial health of tour operators and travel agenc...

Business and its performance are influenced by many factors. In this paper we focused on the analysis of risks that are important determinants of business performance. The aim of the paper was to assess the impact of risks on performance as well as competitiveness of Slovak businesses. To fulfil the aim, the data of businesses operating in Slovak heat industry were used. The input analysis of selected risks was realised with the aim of generalizing and processing conclusions focused on the impact of risks on busin...

The aim of the article is to analyze the current state of the register of municipalities in the Czech Republic with a focus on their influence on the development and operation of the technical infrastructure. Voluntary associations of municipalities represent one of the ways of interregional cooperation; the purpose of all associations of municipalities is to provide public services to their members. The first voluntary associations in the Czech Republic were founded in the early 1990s. Roughly half of the associa...

Currently, there is a range of very serious issues related to the implementation of an accounting and audit process in non-commercial organizations due to the nature of their activities. Over the last decade, important changes aimed at aligning Russian and international accounting caused by the development of the Russian market economy has been made to the existing accounting system. However, methods of accounting and au-dit in non-commercial organizations remained mainly intact. As a result, questions con-cerning...

Solvency of health insurance company depends on tariff politics that should be adequate to value of risks insured which depends on number of claims received. Insured’s diseases can occur simultaneously or in various combinations so claims in health insurance are depended. Traditional actuarial methods based on calculation of proportion of insured with each disease among insured individuals don’t take into account possible dependencies between diseases occurrence. Multivariate probit models are the contemporary eco...

The article describes the changes in the taxation system for oil companies introduced within the period of 2002 - 2016. It is indicated that introduction of tax exemptions was due to decrease in the economic efficiency of oil production due to the growth of the tax burden. The important role of tax exemptions for mineral extraction tax (MET) is considered to be important for stimulating the growth of hydrocarbon production. Amendments to the Tax Code of the Russian Federation, expanding the list of privileges on t...

Background: The article explores a consumer complaint against the banking sector as a tool for empowering consumers, using Polish Financial Ombudsman information as a case study. Methods: The article consists of three parts, the first of which provides an insight into the describing of complaints in the financial markets, the second one reviews regulations concerning complaint proceedings, and the third one provides numerical illustrating of the trends in complaints against banking sector in Poland. The paper conc...

The article is devoted to the essence of the application of monitoring the quality of public sector financial management in the Russian Federation. As part of the research tasks, the authors considered in detail the essence of the general category "financial management of the public sector" in international and Russian practice. The historical process of the emergence and development of the practice of applying monitoring tools in the sphere of financial management of the public sector in the Russian Federation is...

The scale of the modern world economy has transformed economic growth from a means of solving social problems into a factor of their aggravation. Further expansion of the economic system leads to irreversible devastating consequences for the ecosystem of the planet. Traditional economic logic has come into conflict with the interests of mankind. This article discusses the need to replace the model of economic growth with the paradigm of sustainable economic development, which includes environmental restrictions on...

The aim of the article is to identify and characterize the level of business environment risk in the sector of small and medium-sized enterprises in Poland and Slovakia to prepare the recommendation for risk management improvements in the future. Article is based on own questionnaire research, conducted among total 273 SMEs from Poland and Slovakia in 2016. The descriptive statistics and Gamma correlation will be used in empirical data analysis to achieve the paper goal. Authors emphasized that risk management sho...

Background: Inventories are one of the most important assets. Their excess in an enterprise generates unnecessary costs but also has a positive impact on the safety of the company functioning as it improves its liquidity. In turn, the low level of stocks can reduce costs in an enterprise, but can lead to downtime in production or sales. Managers are looking for methods and strategies that will lead to optimal inventory levels and reduction of management costs. To reduce costs businesses often create purchasing org...

Achieving sales is an essential for long-term business activity on the market. Sales information represent a valuable source of information for business management and hence for its future managerial decisions. These decisions are essential to achieving the company strategic goals that are part of the long-term strategic management concept of the company - valued information concerns especially the sales and the expenses development. Development of sales company's values can be predicted to a certain extent by app...

Public finance comprises specific financial relationships and operations. Within the economic system, there is an interaction between public administration institutions on the one hand and other entities of the economic system on the other. The purpose is to raise funds and effectively use them to finance sub-government policies. A significant source of public finance revenue is the tax collection existing in the territory of a particular country. Taxes form a coherent system that is partially harmonized in the EU...

The aim of the contribution is to examine the impact of employment policy instruments on the development of unemployment and employment in Slovakia and in selected EU countries, as well as the definition of employment policy instruments, suitable for application in SR. We are focused on explaining various interpretations and opinions on the origins, consequences and possibilities of eliminating the negative phenomena associated with unemployment. Attention is also paid to the mapping of the most important historic...

The concept of benchmarking can be defined in many ways. In general it is a method of increasing the performance and competitiveness of a company on the basis of comparing oneself with the best in a given field. The objective of this method is to gain information that will help to identify the strengths and weaknesses of a company with its competitors and which will serve as inspiration for improvement. Information is gained by constant observation and evaluation. At present, businesses, if they want to be competi...

Tourism in the modern world, becoming one of the most widespread phenomena in society. This is facilitated, on the one hand, its effectiveness as a form of economic activity, and, on the other hand, the emergence of the society members of new possibilities, i.e., more free time, greater mobility, increased financial possibilities. At the same time, tourism as a social phenomenon, is immersed in the space of modern mass culture and, to a certain extent, is part of it. The phenomenon of tourism is studied in many sc...

The main purpose of the paper is to highlight the main components of revenues and expenditures, respectively their influence on the financial result indicators. Simultaneously attempts are made to make recommendations for improving the financial situation. The paper analyzes the specific situation of the 2013-2015 period. For this purpose, documentation was carried out at the unit level and time comparison was used as a method of analysis. As the key indicators we use, we discuss revenue, expense and profit-relate...

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...