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The present paper is concerned with reviewing different types of tools and methodologies that are already implemented for statistical analysis of performance and efficiency within the economic field. For this purpose, our attention considers both parametric and non-parametric methods and tries to identify the most appropriate ones. This research is oriented on different levels, namely on identifying the difference between parametric and non-parametric methods, their purpose and applications. Regarding the test per...

The article analyzes the monthly growth of the MOEX Russia Index from 2005 to 2018. The average values of the index growth for each month over 13 years were found. The decline dynamics of the MOEX Russia Index on average during the study period in the spring months were revealed, in contrast to growth in other months of the year. Two identical investment portfolios were compared from 2005 to 2018, the first of which remained open during the entire period, the second was closed in the spring months of the year, i.e...

The aim of public authorities in managing public administration is to improve the quality of public administration subjects and public service activities to support socio-economic growth and increase the quality of citizens’ life. For this reason, public authorities must make efficient use of available funds. Effective management of public finances will ensure optimal functioning of all socially important public sector functions related to the peoples’ life and whole society, such as education, health care, social...

Social marketing becomes the philosophy of modern management and business practices. Higher education institutions also seek to implement the concept of social and ethical marketing that characterizes the philosophical foundations of marketing to the fullest extent possible and orients towards satisfying consumers’ needs taking into account the development of the society. The main problem considered in this paper is the building of a system of thought aimed at satisfying the needs of educational services. The obje...

This research aims to identify the effects that different types of taxes have on happiness, considering that the main feature of the tax systems should be related to being fair, otherwise they fail to be sustainable. For this, the question arises on the fact that happier taxpayers would pay higher taxes or not. This study will reveal, through regression analysis, the effect taxes have on various indicators of happiness, over the period 2009-2016. In order to highlight whether or not the level of taxes is directly ...

Diasporas nowadays consists of economic migrants who are belive to have the potential for chanelling financial and social transfers as well as technology and qualifications. Remittances sent by migrants make the main source of external income, not only often bigger than the foreign help but also direct foreign investment. Money transfers make the stable source of funds reaching directly families and make the poverty smaller. Dominican Republic is constantly percieived as a country of a mass emigration to United St...

Information theory is based on interdisciplinary defined mathematical, computer sciences and artificial intelligence. The information is based on theory of mathematically defined the basic preconditions for the fulfilment of the conditions of information processing, and perception quantified properties informative value. While the total applicable and informative value is often lost in a mathematical bite - mathematically measurable value information. The most effective instrument to eliminate the risk is to provi...

The aim of the present article is to assess the sustainability of five Estonian Ministries before and after moving the ministries to a joint building to find out if the moving was a reasonable decision. The objects of the study are the cost accounts of the Ministry of Finance, the Ministry of Social Affairs, the Ministry of Justice, the Ministry of Education and Research, and the Ministry of Economic Affairs and Communications of the Republic of Estonia in the timeframe between October 2016 and March 2018. Both qu...

Internet and Internet marketing are currently the most used and most effective promotion tools, as well as tools of attracting new consumers in any area of business. In the current strongly saturated market it is also necessary to constantly develop innovative changes and create new markets that encourage consumers to purchase behaviour. Determinant of success is to understand the requirements and desires of consumers and be able to assume their future expectations. An important starting point for understanding th...

Russia's relations with the international financial institutions had a multi-faced character. In the transition period of the 90-ies foreign borrowings, especially from the IMF were not always well-grounded and effective. The obtained financial resources were mainly used to service the state debt and cover the budget deficit and were not aimed at financing technological renovation of Russia's economy, the development of infrastructure and creation of export-oriented high-tech industries. In the early 2000's the ec...

As a result of globalization, the transfer of ownership to the hands of foreign firms, as a result of acquisitions and mergers, the accounting entity switches to other accounting systems. In the US, the Generally Accepted Accounting Principles accounting standard is used, the International Financial Reporting Standards accounting system is increasingly being promoted in Europe, and the Czech Accounting Standards are the most widely used in the Czech Republic. However, some Czech companies also keep IFRS accounting...

Modern society has no time for rituals or rhythms; the modern man serves his food at fast at fast-food near the workplace, surrounded, but not together, with his colleagues. Both the Romanian of the big urban agglomerations, as well as of the one from the rural space, has no time for even one of the three tables; he uses products with beautifully colored and encoded labels, because they do not know how else they could talk about: emulsifiers, stabilizers, a bunch of E-s, a whole bunch of acids mentioned on the pac...

Leisure Tourism has increased its share of domestic tourism both in Romania and abroad in the last decades, and so have tourism TV commercials, tourism guides, tourism flyers, etc. The Romanians are practicing new forms of leisure (e.g., golf, kart racing, rafting, river cruise, etc.) involving new means of locomotion to either get to their destinations or to spend their free time. These forms of leisure use such means of locomotion as automobile, balloon, bateau, bicycle, boat, bus, cab, canoe, ferry, gondola, ho...

Human capital plays an important role in the development of an innovation-oriented economy, the multiplication and spread of which will allow to preserve the existing and create new competitive advantages in high-tech industries, improve the development of the territory. The article deals with the features of statistical evaluation of the effectiveness of investment in human capital. The authors emphasize the need for an integrated approach to such an assessment in accordance with the types of effects. The analysi...

In modern times, the choice or creation of a well-developed labor management system creates an efficient process of enterprise activity in all areas of this field of study. In the design of the labor process and the practical implementation of measures for the organization of labor in modern conditions, the methodical basis is the following series of the most important principles: - a systematic approach to solving problems of labor organization; - planning, providing for the planning of the quantitative and quali...

The global problem of the XXI century is the problem of municipal solid waste (MSW). Exactly the problem of solid waste, which concerns everyone, is the most urgent and requires most attention because it affects all Russian cities without any exception (especially the cities of Moscow region and the resort area). The article demonstrates the importance of the ecological approach, as the most attractive for the tourism, when choosing the technological criterion for the preparation of the MSW for recycling. The auth...

The Slovak Republic has a long-standing tradition within many industries. An example of this is the engineering, chemical, electrical, woodworking and food industries. The Slovak Republic is considered as one of the leaders in the automotive industry. The automotive industry in Slovakia produces about one million vehicles per year. For several years, the Slovak Republic has been awarded the first prize in terms of the number of cars produced per capita. The main objective of the paper is to present development of ...

The article is devoted to the study of the actual interrelations of education, mobility (primarily tourism) and city development. This article is not about the mobility of low-skilled labor migrants, but about the part of the population wishing to get a better education before they start looking for a place to apply their labor. The desire to receive quality education, new knowledge, and constant (lifelong) learning is one of the striking features of the post-industrial economy. Knowledge, as the main commodity of...

The article is devoted to the analysis of the possibilities of improving the urban environment and the quality of life in large cities through the implementation of investment projects in the sphere of tourism and hospitality. The author considers the Federal Target Program “Development of Inbound and Domestic Tourism in the Russian Federation (2011-2018)”, which includes 112 investment projects proposed by 59 regions. Each project is the result of cooperation of state and municipal authorities with private invest...

There are two well-known anomalies about initial public offering companies; abnormal initial returns to outside investors and long-term underperformance. These two well-documented anomalies are still unsolved puzzles which attract great attention in corporate finance research. This leads to generation of many possible explanations with different hypotheses. Beside many other theories and perspectives, agency theory related explanations for these anomalies is a flourishing and fruitful area for further research. In...

There are many businesses in the market that try to attract customers to their services. If the services are not offered by the staff, the owners of the premises may be unnecessarily trying to increase their profits. If a business management decides to perform quality evaluation through a third, objective person, they can opt for the mystery shopping method. Mystery Shopping is a method of evaluating the process of providing a service. It is mainly about evaluating the performance of employees who are in direct co...

This paper presents our strategic management approach on tourism destination with the help of the SWOT analysis. We consider that a macro-economic analysis on a region is of utmost importance for all the stakeholders implied in tourism activities: tourists, businesses, tourism agencies and professional associations, local and national governance actors, NGO’s etc. In this regard, the general objectives of this paper are: a. identifying strengths and weaknesses of these two counties which shall generate tourist des...

The paper dwells upon the problems of formation and modeling of the bitcoin crypto-currency market. The huge interest of both the scientific community and the citizens of the world dictates the need to analyze the prospects for the development of the bitcoin and other crypto-currencies market. The article outlines the construction of a model covering the bitcoin market and the factors affecting it. As an endogenous variable "Bitcoin market capitalization" is introduced that estimates the aggregate demand for bitco...

In the course of conducting our own research related to the analysis of the impact of socio-economic factors on the development of migration attractiveness, demographic and economic security of Russia and individual regions of the country, in order to generalize and understand the social and economic situation, identify the most important problems related to the territorial movement of people, classification of labor migration factors that exert the strongest influence on the social and economic situation. For the...

Preferential trade agreements are not a new item in the history of global trade policy, but there has been a marked proliferation of them since the beginning of the 21st century. It is believed that they became a way to overcome the lack of progress in multilateral trade negotiations carried out within the World Trade Organization. However, among various global powers, the European Union was a latecomer to the so called "new wave" of regionalization. The goal of the paper is to point out main reasons and factors a...

The article presents speculation about the possibility of using a corporate tool of strategic planning, such as the balanced scorecard (hereinafter BSC) at the sectoral management level. We propose BSC constructing method for the regional industry (in the context of the Stavropol Territory of the Russian Federation). According to this method, the existing mission of the region's industry is used to build a strategy map, select key performance indicators to achieve the strategic goals, as well as describe control p...

One of the main tasks of the state is to finance and support sectors of the economy that are important for social development. This task is realized within the framework of state industrial policy. At present, a significant shortcoming of the industrial policy is the lack of a transparent justification for the selection of state support and financing facilities. There is no methodology for establishing functional links between the three basic elements of industrial policy: support objectives, objects (industries) ...

Corn is the main crop plant in Romania, at least in terms of cultivated areas (2,554,304.25 ha as an average for the period 2013-2016, over 25% of the arable land cultivated) and total production (10,765,359.5 t, average for the period 2013-2016 around 50% of cereal production). Maize is highlighted by its multiple importance (fodder, industrial, agro-technical, fodder, export, source of profit). The study presents the evolution of corn prices in Romania during the period 2013-2017, both at national level and at t...

Background: As a result of the demand for information regarding mutual relations between the business entity and the environment, socially responsible accounting has been established and the concept of corporate social responsibility appeared. Among the many issues of interest to socially responsible accounting, there are the following ones can be mentioned: social and employee-related, environmental, respect for human rights, counteracting bribery and corruption. In Poland, there has long been a statutory obligat...

Investment decision - making has acquired the importance in the economy of the Slovak Republic especially in connection with its transition to a market one. It is connected with a long-term time horizon, and a badly focused and inefficient investment can lead the company not only to financial problems, but even to bankruptcy. In SMEs, the success of the investment, sometimes involving all of its own capital, can decide on their further existence. In addition to investment decisions that solve the question of which...

The aim of the paper is to evaluate the role of the exchange rate in shaping the export of Poland and selected European Union countries: Sweden, the United Kingdom, Hungary, Denmark and the Czech Republic in the years 2008-2016. The author presented exchange rate regimes in the analyzed countries and assessed if the choice of applied exchange rate system had a significant impact on the variability of nominal exchange rates. Subsequently, changes in real effective exchange rates (REER) and their impact on export co...

The article discusses the issue of improving the quality of life of the population in the Russian regions. It presents an approach to the management of the region in the form of optimization problems aimed at improving the quality of life of the population in the region by increasing the probability of referring it to the class of regions with a higher quality of life. The optimization problem is solved based on identified relationship between the quality of life of the population and socio-economic indicators of ...

The aim of our research is to present an approach to systemic liquidity management of the company. We study patterns of liquidity management that reflect the requirements of the relationship between strategic and current financial management, the interaction of liquidity risk and profitability as the core of added value creation, as well as the tools for their implementation. The econometric toolkit was aimed at identifying threshold points in the joint dynamics of liquidity and profitability with the identificati...

The IT technology solution supporting VAT collection popularised by OECD known as the Standard Audit File–Tax (SAF-T) raises many challenges for businesses bound to use it. The aim of the article is to interpret the conclusions drawn from the survey evaluation of SAF-T implementation in Poland conducted by accountants and heads of economic units. For the reasons presented in this article, SAF-T used in Poland (and probably in many other countries as well) currently may appear to be a transitional, not a permanent ...

The relevance of this study is due to the need to develop the scientific base of engineering activities, including the approach to understanding engineering as a tool for creating competitive advantages and increasing the competitiveness of organizations. Engineering covers the whole life cycle of the object: from the idea and its development, the creation of a prototype, the application into production, including the subsequent promotion, implementation, maintenance, up to utilization. At the moment the Russian e...

The article deals with the topical issue of assessment of recreational loads on the most visited forest areas near the lakes of the Republic of Mari El. Here in the organization of rest a special role belongs to the owners of leased areas, which do not limit mass visits exceeding the established standards. Therefore, in conditions of significant recreational nature and exhibiting a natural deficit of water recreational resources of growing importance for the purposes of recreation acquire comprehensive studies to ...

Empirical evidence of financial literacy in the adult population during almost 10 years shows stable financial illiteracy of Russian population. By financial literacy Russia consistently occupies one of the last places in the surveys made by different researches, and does not improve its score with time. Financial illiteracy negatively effects Russian financial market’s stability and economic growth of the country. Numeracy and capacity to do calculations related to interest rates lies in the root financial capabi...

The article analyzes the role of regional development institutions in the social and economic development of the constituent entities of the Russian Federation. The authors summarize the experience of managing regional development institutions, conclude that it is necessary to increase the degree of influence on the development of the economic and social infrastructure of the regions of the Russian Federation. The article specifies the essence and content of the concept «regional development institution», as well ...

Recent years in business activities exposed rapid changes, especially in the ownership structure. An increasing number of mergers and acquisitions assume increasingly complicated forms, thus becoming incomprehensible for financial statements’ recipients. Among many consequences associated with business combinations, one should notice a specific accounting category, namely the bargain purchase gain. Describing the basic assumptions as well as legal regulations concerning the bargain purchase gain isone of the main ...

The purpose of the paper is to analyze the impact of the health systems financing in the EU Member States, identifying the structural and institutional changes necessary to eliminate the negative trends and to increase the efficiency of the healthcare sector. The good health is considered by the European Parliament as the key to economic growth and sustainable development in the EU. The methodology of the study includes a theoretical and methodological analysis, a descriptive approach, a method of analysis and syn...

Currently, suburban passenger transportation in Russia has a leading socio-economic role in satisfying the citizens’ requirement for displacement. The social significance of railway transport is primarily in its demand among the population with low income. Russian Federation regions establish the passenger-fare for selected groups of the population below the actual cost, so as not to reduce passenger traffic. Meanwhile, regional governments need to compensate for the loss of carrier's income which appears as a res...

A new quality of economic growth is being formed and related to the development of digital computer technologies in the modern world. The government of the Russian Federation has taken a course to transfer the Russian economy to a digital basis. It is reflected in the program approved in 2017 "Digital Economy". Among the main end-to-end digital technologies within this program are neurotechnologies, which, together with other advanced technologies, are created to reduce the gap with the leading countries in the ne...

The article concerns the problem of the gradual change in the balance of power between the West and a group of rapidly developing countries, particularly the BRICS countries. The data from the World Bank, the IMF, the OECD, the Total Economy Database and other open sources have formed the base for research. In recent years, the world economy has demonstrated the accumulation of unresolved imbalances. Evaluation of observed trends in the world economy proves the need to complement the actions of international econo...

Ecotourism represents a significant share in modern world tourism, a distinctive feature of which is visiting areas that have not been subjected to anthropogenic transformations and impacts, and compliance with environmental safety. In Russia, eco-tourism is not developed as intensively as in Western countries, but it has good prospects associated with the availability of unique tourist resources. The Chelyabinsk region (South Ural) is one of such regions that have the necessary potential for the development of th...

This paper discusses the negative impact of shadow economy on Small and Medium Enterprises (SMEs) in Tourism Industry, where SMEs constitute 98 percent of the national economy. Our findings indicate that shadow economy widens the gap between SMEs and large enterprises, and presents the biggest obstacle for the development of SMEs. Moreover, our research confirms that the shadow economy has the potential of destroying national economies in smaller countries, like Greece. Our research was based on a questionnaire su...

The article is devoted to the answer to the question, what priorities prevailed in the process of restructuring hard coal mining in the countries of Central and Eastern Europe, in which this sector had a significant share in the structure of the economy (Poland, Czech Republic and Romania)? The analysis was based on the study of the relationship between the level of coal prices on the European market and the level of employment. The hypothesis of the article is that in the Central and Eastern European countries, s...

Financial literacy is one of the basic skills and competences allowing individuals to fully integrate into the financial system and feel comfortable in the modern society. The financial literacy of the population is important not only for financial specialists but also for the government, financial institutions, universities and nongovernmental organisations. According to an OECD report, Latvia was ranked above the average level with regard to financial literacy. How has this been achieved? The government focused ...

The main purpose of this study is to describe and analyze the overall level of motivation of workers of hotel enterprises in the Ferizaj Region in the Republic of Kosovo and to measure the relationship that exists between motivation and quality of service. Part of the study was 467 employees of hotel enterprises, of which 36.6% (n = 171) were women and 63.4% (n = 296) were males. The analytical data analysis was done through the SPSS program. From the findings of this study it has been found that the employees of ...

In recent decades, the world community is objectively forced to admit - humanity is getting fat. It is not fatiguing in a figurative sense, that is, in terms of access to a variety of goods, services and opportunities, but in the literal sense, that is, in terms of a constant increase in the number and proportion of people suffering from overweight. The terrestrial population expands in its composition the representation of fat people, which due to this circumstance more and more drop out of the society. The total...

The European car market is progressing with a relatively fast pace during 2017 and the trends in the development of the new car registration in Bulgaria are advancing even further. The automobile industry and the automobile market generate high gross value added in the development of the economy of all countries, which is the rationale for the research of the dynamics and the structure of car sales. The main aim of the current paper is to indicate some fundamental perspectives for the development of the car market...