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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...

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...

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...

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...

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...

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 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...

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 conceptual framework for forensic accounting expert examination requires the creation of a monitoring mechanism with clearly defined goals, objectives, objects and methods. The procedure of forensic accounting expert examination for selected activities, in particular for railway suburban passenger transport services, has a number of features and is not regulated normatively, so each expert conducts the procedure independently in accordance with professional skills. This leads to different conclusions in solvin...

The researches were performed in Orsova region, located at a distance of about 25 km far from Drobeta Turnu Severin (Mehedinti County). The point of attraction of the studied area is the Danube River. In Orsova area tourism is performed through the capitalization of the natural environment and of the accommodation supply, of the services offered by hotels and farms managers and the objective of this activity is to achieve incomes. In the ellaboration of this paper, our objective was to present the touristic potent...

Traditionally, insurance purchasing behavior is associated with individual’ risk aversion. It is assumed that the risk attitudes are correlated with voluntary insurance consumption. We use the potential and realized risk attitudes along with socio-economic and demographic factors as determinants of insurance behavior of Russians. We present the results of modeling of the individual insurance behavior based on Individual Russia Longitudinal Monitoring Survey – Higher School of Economics (RLMS-HSE) Round 25 data for...

The concern for consumers protection dates back to antiquity, the development of commodity exchange in the markets from citadel cities is not a random and uncontrollable phenomenon. In the society of the 21st century, where production has exceeded consumers' needs, deviations from the rules appear. Manufacturers have gone from producing what is sold to selling what is produced. Different marketing strategies are used, imposing on the consumer the need for a good or service, even if he does not have the need. Unfor...

One of the aims of each financial analyst is to make a statistical analysis of multidimensional data in a financial analysis. The aim of all methods of multi-criteria evaluation is transforming and synthesizing values of various parameters into one - integral indicator, comprehensively expressing the level of individual enterprises in the set of values examined. The purpose of each multidimensional analysis is to process the data in order to clearly indicate the model and thus reveal the hidden phenomenon. The aim...

Background: Modern studies of the concept of systemic risk presuppose an answer to the main questions: as a systemic risk is defined in the scientific literature and central banks; what is the content of "systemic risk" and what factors are involved in its accumulation; what is "infection" and how does it relate to systemic risk Methods: Central banks rarely suggest a definition of systemic risk. The review of S. Usterlu and J. de Hahn shows that central banks often focus on clarifying definitions of financial ins...

The article reflects the results of a study in the dynamics of public expenditure in the education sector of the Russian Federation. The article deals with mechanisms, problems, priorities and prospects in financing and developing the education sector in the Russian Empire and the USSR. Comparison of the periods showed that in the imperial period the system proved its necessity, which resulted in the emergence of social needs in education and the transition from facultative acquisition of knowledge to a functionin...

The innovations, especially social, are widely recognized as a strategic base of rural areas’ sustainable development. Numerous studies have found the positive impact of social capital on innovations, especially social innovations. Furthermore, the innovation is an important tool to transform social capital into the higher income levels and higher innovation performance. The paper presents an assessment of the role of social capital and its relationship to innovations, particularly social innovations in rural area...

The problem of many European Union countries has been for a long time a high deficit of public finances and also high public debt. This situation resulted in the year 2012 to debt crisis, which need to be addressed by non-standard measures of economic policy. Although Slovakia never fell between countries with excessive public debt, however, since the formation of independent Slovak Republic in 1993 never reached a balanced state budget. The government, therefore, has developed „The stability program of the Slovak...

The research was carried out between 2016-2017 at Research and Development Station for Plant Culture on Sands Dabuleni on sandy soil with reduced natural fertility. Five Korean sweet potato varieties (Yulmi, Juhwangmi, Hayanmi, KSP 1, KSC 1) were studied, using planting rooted shoots and non-rooted shoots. The results show increase in the number of tuberous roots, with 0.42 large tubers/plant and 0.65 small tubers, by using rooted shoots for planting, compared to planting of fresh cut shoots. Were observed Yulmi a...

Short-term visions, a weak understanding of the mechanisms of the economic and social environment, lack of responsibility are frequently seen in the global society, signaling the loss of direction of the economic world and lying at the basis of economic and financial disasters, as well as lessons supporting the need to reconsider corporate governance mechanisms and reinforce the place and part of control therein. Corporate governance is as important for the business world as democracy for the rule of law. The grea...

Worldwide, one of the most developed industries, it is the hospitality industry that consumes a considerable amount of energy to provide quality and comfort services. The used energy in hotel units has as a major component electricity, while the share of solid, liquid and gaseous fuels is considerably lower. The amount of used electricity depends primarily on the size and nature of the hotel unit, but also on the type of customer and location. In this regard, the article addresses ecological and sustainable altern...

The research aims to explain the relationship between governance and welfare, analysing 20 countries, some of the richest and most developed countries in Europe, and some developing countries. The period analysed is 2002–2016. While the World Database of Happiness is the source for welfare data, for governance we used the Worldwide Governance Indicators from the World Bank. The latter ones are widely used as some of the best comparable international governance indicators, having perception-based measures from the ...

Intangible assets play an essential role in the property structure of businesses. Technological progress and the use of information and communication technologies greatly change the so-called traditional economy. The current digitized economy is very flexible, global; it works with high-quality information systems and requires new approaches to manage partial business activities. All this, results in the growing importance of intangible assets in businesses and subsequently leads to the concentration of value in t...

Tribal business in Russia has a long history and positive experience in breeding adapted to the local climate high-yielding breeds of cattle. After the collapse of the Soviet Union, tribal activities were conducted, mainly with the use of imported material, which led to the decline of domestic cattle breeding. Currently, there is a stabilization in the field of breeding activities and a gradual increase in its quality characteristics. This is confirmed by a number of analytical indicators calculated by the authors...

An important element of contemporary social and economic reality takes the form of intra- and intergenerational transfers. They are present both in the entire society scale (macro scale) and in individual families (micro scale). In the subject oriented perspective, among economic intra-family transfers the following types of transfers are identified: “gifts of time”, “gifts of space”, “financial and material transfers”. Financial transfers take two forms: inter vivos and post mortem. The first of them may have a r...

The objective of this chapter is to examine the long run relationships between public debt and macroeconomic stability in the period of 2002 to 2010. In this research I use Johansen’s cointegration analysis and Vector Error Correction Model (VECM-henceforth) in order to test the long run effect of fiscal policy on real economic activity. Reviewing the literature, from both developed and countries in transition, I find that there is large disagreement concerning the empirical evidence for the effect of fiscal polic...

The article presents the methodology developed by the author for determining the region's investment priorities for the purpose of selecting industries for inclusion in the investment portfolio. For the regions of Russia, classified in the author's typology to the problem type, as an optimal goal-oriented investment policy aimed at forming the target investment attractiveness of the region, taking into account its specific specific properties and assuming the organization of targeted work with investors. The regio...

The topic of efficiency in the field of banking activity is widely debated because it is perceived as being a leading factor, with impact on banks’ financial performance and soundness. Paper’s theme is in line with current concerns expressed by European and national regulators and supervisory bodies, which are strengthening supervisory practices for best assessing the risk profile and potential exposure to shocks of large, systemic banks. Paper’s focus is on a sample of representative Romanian banks, which are cla...

With the constantly changing conditions of the market environment, companies and their managements have been under permanent pressure to find sufficient economic reserves and resources allowing to further grow and improve their financial performance. Financial performance considerably affects the company position in the market and also the level of its competitiveness. Besides other factors, the company financial performance and competitiveness are influenced by the amount of costs consumed. Practical experience a...

Corruption is a phenomenon with many facets, which is usually interpreted from the viewpoints of a number of alternative approaches. This paper analyzes the problem of corruption from the perspective of economic theory as a science of general principles concerning the operation of society’s economic life. Does economics have something to say about the problem of corruption? It its methodological approach relevant for analyzing corruption? We think that it is. Even though theoretical economics has not made the prob...

The thorny issue of food safety is not new, not by far. Yet, it has been somehow in the shadow of ensuring global food security for a while, and currently it comes out from that shadow, making a spectacular step forward. Researchers have managed to put food safety in almost everyone’s minds and that is an ongoing education exercise with unprecedented results. Consequently, the authors ask themselves if the topic has reached its end or, on the contrary, if there are any new approaches to be considered by the resear...

For Romania, potato is a culture of particular importance. Potato has a fairly important cultivation area, with early crops and autumn-winter crops. Potato is distinguished by its multifaceted importance (food, industrial raw material, agro-technical technology, fodder consumption, source of profit for farmers). The study covers the period 2014-2016. The applied analysis method is the comparison, made in time and space using structural and dynamic indices. Macro Region 1 cultivates the largest national potato area...

As things stand now, the two foreground factors, among others, contributing to sustainability of the integrated structures represented by regional industry clusters are sound use of energy resources and improvement of the economic efficiency of energy conservation measures and technologies being mastered by the manufacturers. The issues related to tailoring of a package of energy conservation measures followed by assessment of the influence produced by energy conservation projects on the efficiency and sustainabil...

The relevance of this study is determined by the exponential increase of the qualitative natural resources value in the current processes of reproduction of socio-economic systems at various levels of the hierarchy. Effective strategic management of natural capital is identified today as a necessary condition for increasing the sustainability of innovative development of the economy and society. The purpose of the study is to substantiate the new directions of the specification of natural capital in the system of ...

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 ...

Tourist organizations are global corporations operating across national borders. In the tourism sector there is a trend towards globalization fueled by a variety of factors The term "globalization" refers to the fact that companies are increasingly selling products and services on a global market, that is becoming more homogeneous. Behavior patterns of consumers are becoming more and more similar, despite their national characteristics, this trend being analyzed for over two decades. Global consumers are becoming ...

The purpose of research was to assess trends and problems in the formation and development of state control over the targeted and rational use of budgetary funds in Russia. To achieve this goal, the Russian Federation normative legal acts from 1993 to 2017 were studied, as well as practitioners' and theorists' expert assessments directly involved in the process of state financial external control mechanisms formation. During the study, the authors identified the following trends in the external state financial con...

Due to its favourable geographic position in the centre of Romania, the tourist destination of Bra?ov has continuously developed. Being located in a picturesque mountainous area and having tourist potential which combines elements of the natural environment with cultural and historical values, nowadays Bra?ov has become one of the most attractive tourist destinations in Romania. Hence, the most important objectives of this paper were to identify the current changes in the tourism market and to highlight the possib...

The aim of the paper is to assess the millionaire cities attractiveness for residents in the Russian Federation in the period from 2011 to 2015. Ranking is made using 20 indices combined in five groups. As a result, authors find out that the best positions among millionaire cities in their attractiveness for living are taken by Ekaterinburg, Novosibirsk and Chelyabinsk. They are characterized by a high standard of living, the state of the economy, and the provision of social infrastructure. A little lower attracti...

The issues of fairness of taxation, use of taxes as a tool of social regulation are traditionally very significant. Especially their sharpness is felt during periods of global economic crisis, when there is a significant reduction in the standard of living of most of the population, and there is an increase in property stratification in society. For the Russian Federation, these problems acquire special significance in connection with the present low level of income of the majority of the population and a high lev...

The article examines prospects for expanding exports of manufactured goods in Russia's foreign trade and increasing presence of Russian companies on the world markets of goods with high added value. In the paper macroeconomic tendencies, national and regional conditions of foreign economic activity (FEA) are analyzed. The author focuses on the infrastructure and public administration aspects of supporting international trade of the Russian Federation. The article offers short-term, medium-term and long-term scenar...