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The objective of the paper is to investigate the relations of the customers' participation in product boycott and values preferred by them. The conceptual framework is based on the Schwartz’s theory of human values. Data from the European Social Survey are used to test research hypotheses. Findings clearly show that consumers who take part in product boycotts place greater importance on independence as well as they attach less importance to conservatism (tradition, conformity, security) and egoistic values (power, achievement) then other consumers.
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The article should analyze the situation when the state regulatory policy actually hampers the development of enterprises, leading to significant losses in carrying out even the simplest of transactions. It negatively affects the financial performance, including the income. We need to consider ways in which companies can implement socially responsible activities only if for this they have appropriate financial resources. Therefore, the absence of favorable for business development of regulatory policy is one of the factors inhibiting social responsibility of Ukrainian enterprises. The article analyzes the financial framework of corporate social responsibility in the transformation period of transition from a centrally planned to a market economy , as well as at the present stage . Connection of the social responsibility of business with the financial activity of Ukrainian enterprises is defined, as well as the possibility of using foreign experience in the Ukrainian realities. It is obvious that the change of concepts of CSR towards the economic motivation for its implementation would not take place if there was no real positive impact of strengthening the social functions of companies on their financial situation. We can distinguish the following main factors of influence: stimulation of personnel to maximize their labor due to increasing the interest in the outcome of companies, increasing human potential; advancing the competitiveness of companies in the labor market, the possibility of attracting the most qualified employees; reduction of financial losses due to companies creating the conditions to prevent industrial action; improving the company's image in the eyes of customers, suppliers and authorities, as well as the value of its brands, that has particular importance in terms of the growing role of intangible assets of companies that is recorded in the world last decade; increasing the investment attractiveness due to making them more transparent economic activities in the framework of CSR (it has a partly positive impact on raising funds by issuing of securities in the implementation of IPO); CSR standards take into account some of the rating agencies in determining the rankings of companies that in some way affect the financial results of their activity. The foregoing allows us to conclude that the development of the social functions at the level of individual enterprises, the enhancing of their social responsibility corresponds the tendencies inherent in the developed countries. It can be considered as one of the important directions of improving the financial situation of industrial enterprises in Ukraine.
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The article deals with methods for assessing the effectiveness of business investment. Highlights specific techniques that are used to determine the effectiveness of investments of the dairy industry. Adapted method for evaluating investments for the dairy industry
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Information about the Church vakafs in the 18th Century in Ottoman Documents from the Fund “Piskopos Kalemi”Abstract: The research is based on the yet unpublished Ottoman archive documents from the fund “Piskopos kalemi”, the earliest of which is from 1701 and the latest one is from 1777. In this rich archive fund of the Ottoman Archive in Istanbul at the General Directorate of State Archives in the Republic of Turkey are kept documents from the so called department Piskopos mukataas? kalemi (“The chancellery of the Bishop’s matters”) part of the defterhane called Piskopos halifesi kalemi in the 19th c. It addresses the various issues concerning Christian churches and keeps all documents concerning the Orthodox clergy, the Christian churches and monasteries. The information contained in the Patriarchal pleas (arzuhals) selected for the purpose of the study, compiled by the Patriarchs of Constantinople Kalinik II, Gavriil III, Jeremiah III, Paisios II; the Serbian Patriarchs Moses and Ioannikios III and the Ohrid Archbishop-Patriarch Joasaph II, concerning the collection of church taxes and fees, provide an opportunity for a research and real interference in the discussed Ottoman studies about the so called church vakafs. The comparative analysis of the available and newly translated sources from the fund “Piskopos kalemi” shows that the Christian vakafs most often turn into church vakafs.
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The role of the educational component in the forming of innovative-integrated structures in Ukraine is researched in the article. It is established that there is a strong relationship between the level of development of higher education institutions and the level of clustering of a certain territory. Some indicators of activity of higher educational institutions of Ukraine are considered. It was emphasized that in Ukraine there is a process of optimizing the network of universities, academies and institutes. A comparative description of the expenditures on the sphere of higher education,the position of the Global Innovation Index and the level of clusterization in the context of the countries of the world and Ukraine is given. The attention is focused on the fact that the level of development of the network of higher education institutions in the regions of Ukraine is related to the level of their innovation activity. The key peculiarities of the transformation of approaches to the educational component in terms of its importance in the forming of innovative-integrated structures are substantiated.
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Indonesia is a unitary state as asserted in Article 1 paragraph (1) of the Constitution of the Republic of Indonesia 1945. As a consequence of this, Indonesia dividing its territory into several regions. This study aims to analyze the form of regulation on financial relations among the central and regional governments, especially those that regulate balance funds to accelerate the equitable distribution of development. Types of normative research with legislative, conceptual, and philosophical approaches were used as the research method. In conclusion, the formulation of balancing funds between the central and regional governments prevailed so far has not yet reflected a sense of justice so that it can obstruct the occurrence of even distribution among regions.
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There are a lot of opportunities for financing of SMEs in international business which they implement successfully. In recent years the signed contracts for factoring have increased gradually in Bulgaria and in Europe. Two main issues are presented in the paper. Firstly, the definition and the functions of factoring are reviewed and secondly, the role of factoring for SMEs is analyzed.
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The calculation of the risk of non-financial companies is a complicated process that theoretically and practically lags behind the analogous processes in the financial companies. This article focuses on the VaR as an indicator for determining the risk in financial investments and the problems it faces to apply it to non-financial companies. Then the research is concentrated on the presentation of the CFaR, the difficulties in applying it and the benefits of using it in companies.
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The article discusses the main theoretical considerations when assessing the value of the share capital of public companies. The principles of business appraisal and the factors that affect the value of the company are discussed. The main approaches to business valuation are presented: asset approach, income approach and market approach. A specific methodology has been proposed to determine the intrinsic value of the stock based on three complementary models: the Discounted Dividend Model, the Residual Income Model, and the Market Multiplier Price/ Book Value of Equity. The methodology is used to determine the value of alternative, corporate and business strategies, to manage the value of the company in relation to large-scale deals such as mergers, acquisitions and emerging markets, and to assess the possibility of attracting additional capital resources.
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The paper is motivated by numerous studies on cost of equity calculation. Empirical test prove that certain CAPM modified models cannot provide correct values of the cost of equity of companies from emerging markets. Thus, the applicability of the RojoRamirez et al. (2011a, 2011b) approach for cost of equity estimation is tested for seven Bulgarian REITs. The results show that the cost of equity values calculated by the RojoRamirez et al. (2011a, 2011b) are more adequate than those obtained by the CAPM.
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The subject is neither new nor an exception to modern economic life, and as seen in the introduction, it has long been used intentionally or not on a global scale and nationally. The article focuses on the different definitions of fraud and abuse as well as the possible definitions in the financial statements. There is a place for the possible motives for doing them, as well as the role of the internal audit to prevent them. There are also possible actions and approaches for their reduction, as well as recommendations for their legislative restriction.
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The present study examines the nature of commercial bankruptcy, through the prism of accounting, analyzes the stages in which the court proceedings pass and the accounting procedure for its realization, and outlines the specifics accompanying the process of its termination in the enterprises. The aim is to reveal peculiarities and problems, as well as opportunities for their acceptable solution.
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As business organizations and scientific and academic thinking are constantly searching for adequate concepts and practical solutions to address current challenges facing business organizations. In this regard, customer value quickly gained popularity and became one of the dominant concepts in the academic literature and business practice. Despite this fact, surprising to many, but not to the team that developed the current publication, that there is no consensus on defining the concept of customer value, and there is no common, uniform definition for it. Even very often in the realization of scientific and practical studies related to customer value, no attempt is made for an explicit definition. It comes to the situation that customer value is one of the most commonly misinterpreted, misplaced and ambiguous notions in science and practice. The reasons for this are many and in this regard we seek to answer a number of research questions, the main ones being: What is customer value? Who, where, and how does it create customer value? In addition, we review the most commonly used metrics of client value.
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Tax evasion is a serious problem for every country. It is believed that by lowering tax rates this problem can be overcome. Does this idea unambiguously support the economic theory? Or is tax evasion a phenomenon that is rooted in a much wider range of money? This article will look at the baseline economic discussion on this issue, and more thoroughly outline the “classic” quantitative model of tax evasion. It makes it clear that evasion of taxes is not directly dependent on the size of tax rates. Consequently, the public discussion based exclusively on this factor is one-sided and does not affect this phenomenon in full, which is a prerequisite for it to remain barren.
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Controlling the movement of goods with high fiscal risk is a set of activities of revenue bodies (National Revenue Agency) in order to prevent tax evasion and tax evasion in connection with the movement of goods with high fiscal risk on the territory of the country (Republic of Bulgaria). With control or fiscal control, on the movement of goods, with a high Fiscal risk does not establish tax liabilities but can be established certain facts and circumstances relevant to tax obligations. The list of goods with high fiscal risk is approved by an order of the Minister of Finance on a motivated proposal of the Executive Director of National Revenue Agency. Fiscal control is subject to the movement of all goods with a high fiscal level risk, irrespective of the place of receipt/unloading of the commodity – the territory of country, territory of another Member State of the European Union or territory to a third party.
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The current paper aims at raising awareness about the differences between theory and practice in accounting. It focuses on the logical path that a student or a novice in this field must follow in order to apply theoretical knowledge into practice. The role, the structure, and the features of the financial information system (as part of the informational system of the entity) are presented in comparison with the accounting ledgers used in the traditional accounting (where transactions were recorded manually). These ledgers are the starting point of any accounting when acquiring the practical knowledge. In addition, the paper considers the didactic principles most suitable to bridge the gap between theory and practice in accounting.
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The law of the Czech Republic does not explicitly regulate the rights of the university students participating in internship programme. Nor does it regulates the obligations and rights of the internship programme providers. Without the existence of any specific legal regulation, the issue has to be addressed by most of the universities since internship is a necessary requirement for graduation. The absence of legislation makes unclear the legal background of internship programmes. The authors of the article deal with those legal norms that should apply in internship practice and present several arguments supporting the fact that the internship programme should be regulated by labour law Act No. 262/2006. The article also draws attention to the consquences of this conclusion. The aim of the paper is to support the opinion above, providing several arguments. To achieve this objective, the concept of „dependent work“ will be analyzed using deductive research method based on the existing theoretical labour-law knowledge, as well as an inductive method will be applied with the Supreme Court and the Supreme Administrative Court of the Czech Republic.
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The article addresses the issue of immediate termination of employent initated by the employer.Termination of employment by the employer is interpreted as a unilateral legal act, under whichthe employer can terminate employment with the employee solely on the basis of defined reasons. The main objective is to point to problematic aspects of the Slovak legislation and to clarify their application with reference to judicial practice. The authors summarized the current legal background, analyzed the relevant court decisions, and applied logical thinking, using deduction, induction and synthesis in order to draw the appropriate legal conclusions. The article contains the comparison of the Slovak and the Czech legislation in the affected field.
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Termination of employment in the Slovak Republic represents a challenge to HR professionals due to its complex nature and strict requirements for legal compliance. The submitted paper focuses on analysis of various forms of termination of employment in the Slovak Republic in detail such as termination by agreement, termination by notice, immediate termination and termination in probation period as well as the multifaceted issue of collective redundancies. In addition, managerial aspects of termination are consulted and recommendations given. In terms of methodology, theoretical methods of research including logical abstraction, deduction as well as comparative method alongside with qualitative methods have been deployed. The main aim of the submitted contribution is to present a comprehensive guide for HR professionals as well as lay public in the very specific area that termination of employment in the specific conditions of the Slovak Republic truly is.
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