Browse

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...

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 Global Real Estate Transparency Index covers one hundred markets and is based on 186 variables. These indicators are divided into six parts – performance measurement, regulatory and legal frameworks, and governance of listed vehicles, market fundamentals, environmental sustainability and transaction process. The Index is one of the tools that helps to assess and compare markets across the Globe and give an idea of how investable the market is based on its transparency. Because transparency is critical to the...

Consolidated financial reporting is an important source of information for strategic decision making. Not all stakeholders have access to company's internal data. Analytical procedures allow stakeholders to make a calculation from key indicators and give an adequate assessment of the company. This article is devoted to the development of an universal method of rapid assessment of company's consolidated financial reporting, depended on the interests of stakeholders.The authors have developed algorithms for rapid as...

The concept of value co-creation (VCC), which has been widely discussed in recent years in economic literature, is used in the paper to consider the co-creation of the value of works of art. Three entities involved in co-creating the value of a piece of art are indicated: 1. the artist – the creator of a piece of art; 2. the recipient/intermediary in the conclusion of a transaction; and 3. the customer/buyer. Special attention is paid to the interactive nature of creating the market value of a piece of art. In t...

The paper examines the role of public policy for human development between 2002-2017 periods by covering the 28 European Union Member States. In order to determine if public policies are playing a leading role for the Human Development process, we defined current public policy implying the Worldwide Governance Indicators (WGIs), namely: Government Effectiveness (GE), Regulatory Quality (RQ) and Control of Corruption (CC) collected from the World Bank. The components of development were defined through some dimensi...

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 expertsВ’ perceptions of Varna as a conference tourist destination. To assess the potenti...

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 communitiesВ’ 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 BosselВ’s system-based approach where the destination is divided into three large subsystems - human, support and natural. Based on the results from a c...

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 usersВ’ pe...

This paper investigates the impact of the quality of governance on the quality of life in Northern European countries. As public sector governance is related to the interaction between governments and citizens and organisations, being a key aspect in economic and political development, the research focuses on determining which variables employed to determine the quality of governance are most influential on the quality of life at the national level. The regression analysis is realised on a set of Northern European...

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...

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...

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...

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...

In this paper, we calculate the consumer surplus of the quadratic demand function p=a?bx1?cx12 and the producer surplus of the quadratic supply function p=d?ex1?gx12 where x is a crisp quantity and a, b, c, d, e, g are polygonal fuzzy numbers. Polygonal fuzzy number is generalization of triangular fuzzy number. This type of fuzzy number was introduced by Baez et al. [A.D. Baez-Sanchez, A.C. Moretti, M.A. Rojas-Medar, On polygonal fuzzy sets and numbers, Fuzzy Sets and Systems, 209 (2012) 54-65.]. For a fixed parti...

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 t...

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 p...

Assessing archaeological and cultural potential is a key milestone to shaping a complex study that can impact sustainable tourism within a particular geographic area. The study aims to identify monuments capable of meeting the requirements of cultural and tourist activity through: accessibility, originality, seniority, maintenance or level of rehabilitation and promotion. The analyzed geographic area is the historical and geographical province of Romania, Dobrogea. It is a province with a great historical backgrou...

During the last decades, the paradigm of management accounting and control has noticeably changed from “number-crunching”, assuming mostly a technical role of an accountant, towards strategic partnership within a management team. Leadership is mentioned as one of the four building blocks of the professional competency framework, determined by Global Management Accounting Principles [13]. Besides this “internal” trend within a profession, an external trend of increasing influence of social and organizationa...

The legislation of European Union member states is not harmonized in terms of defining, evaluating and addressing fraud, lacking a unique, generally accepted definition. The paper has several aims. First, it has been provided a comprehensive definition of fraud as an unlawful act, by gathering the views of several audit, accountant and fraud examiners professional bodies. Then it has been presented the fraud triangle, the recurrent patterns of fraud committing and the profile of the fraudster by investigating past...

We identified factors that influence the ability and desire of people to engage in physical culture. We studied their impact on the classes of various physical activity forms. We used the data of The Russia Longitudinal Monitoring Survey-Higher School of Economics (RLMS-HSE), 25th wave (2016). The sample size is 1893. There are several Russian and foreign papers about determinants of physical activity. We used it to highlight the necessary factors. We used the multinomial regression for modeling. It helped us to f...

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...

The process of company management requires the implementation and constant development of effective, structured and scalable set of instruments. These instruments must be continuously improved and updated under current conditions of intensifying competitive environment. The integral parts of such a set must reflect and be representative in the following aspects: economic and financial state of the enterprise, climate and culture codes inside the company and the current state of affairs in the company environment. ...

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...

Digital advances in the financial sector have led to the emergence of electronic finance, which is a new business model and publicly accessible information, financial, technological, economic and cultural platform for financial services and products. The transition of the financial industry to the “digit” and the emergence of the e-finance are associated with the FinTech revolution. E-finance is a deeply global phenomenon, representing the digital correction of spacetime processes and/or quasi resolution of a ...

The article reviewed and analyzed the interpretation of the term В«environmental safetyВ». It was concluded that, now, there are no uniform criteria for measuring environmental safety in either Russian or international scientific practice. The reason for this is the lack of a clear understanding of the definition of В«environmental safetyВ». The main drawback of the many definitions available for this term is the lack of statistical (quantitative) definitions and the lack of indications of their relationship with ...

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...

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 OkunВ’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 OkunВ’s Law, that investigates the relationship between the cyclical components...

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...

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...

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 ...

Nowadays, many countries of the world are characterized by the change of conceptual approaches to the management of spatial development of territories and the search for new sources of economic growth. As a rule, in the economy of resource regions most of the perspective technologies are developed and implemented in the resource sector. Such technologies have unique feature – a wide range of secondary products that can be transformed into independent innovative products, services, technologies, management models...

In the context of the globalization and integration processes development, and changes in the geopolitical position and foreign policy course, which are overlapping on them, the border regions of Russia, Mongolia and China have acquired new opportunities for socio-economic development. Therefore, the study of the barrier and contact functions of the state border impact on the cross-border cooperation and the socio-economic situation of border regions will be a special relevance. The international tourism developme...

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...

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...

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...

The financialization of operations is related to the growing importance of financial motives in the activities of non-financial entities. Referring the problem to various sized enterprises, due to the specificity of the functioning of large and small and mediumsized enterprises, theoretical differences in the impact of the financial market on the form of management, as well as in the capabilities of access to financial instruments (e.g. through access to the stock market), can be observed. The aim of this publicat...

This paper is linked to a research project that takes into account the Southern Italian landowning class from the eighteenth to the twentieth century and the process of development of the Italian Mezzogiorno, with particular reference to the influence of institutional and economic change on liberal Italy. We focus on the analysis of the life and the career of a southern Italian banker, Quinto Quintieri, whose familyВ’s background and fortunes were entirely rooted in the latifundia who, in November 1944, was sent t...

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...

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 ...

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...

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...

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-...

This article discusses the methodological issues of determining value added in the framework of intercompany networks - industrial clusters, which is an effective tool for analyzing and decision making. A sequence of stages of the formation of value chains (VCC) is proposed, their features and mechanisms for optimizing the interaction and coordination of actions of participants according to the criterion of gross value added (GVA) are highlighted. An approach to the definition of value added in the framework of gl...

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...

Incorporating silk to clothing creates value. However, with increasing worldwide environmental concern, the environmental implications of silk production practices should not be disregarded. A relevant part of environmental assessment studies focuses on the final product (i.e.: silk clothes), however, upstream and downstream processes also contribute to total impacts. Therefore, the objective of this study is to present an introductory analysis for conducting a Life Cycle Assessment (LCA) of the silk cocoon produc...

Bran castle is a medieval fortress situated in south-eastern Transylvania and the most visited tourist attraction in Romania. Its popularity among international visitors is mainly due to its association with the famous Count Dracula, based on the assumption that this particular castle might be the one that Bram Stoker presents in his novel. The castle has its own history, starting from the 14th century and continuing with its transformation into a summer residence for the royal family of Romania, in the 20th centu...

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...