Issue 2, 2016

This article suggests theoretical and methodological approach to corporate control system formation in Eastern Europe (case study of Ukraine). It considers historical and controversial aspects of corporate control implementation and suggests the systematization of subjects and objects in terms of corrective actions and outlines of corporate relations. Existing types of corporate control in Ukraine have been investigated on the basis of legal and regulatory framework and corporate practice. The article suggests measures in respect of management of the corporate control system development, based on the improvement of certain components of corporate control implementation and structural peculiarities.
JEL: G30; K22

The main objective of this research is to measure the impact of work accidents rate on the sickness/health care expenses in Romania during 2008-2013. Some of the work accidents might be caused by the professional diseases of the workers, but there is not a database with medical expenses only for professional disease. The statistical analysis proved that in Romania a consistent part of the expenses for sickness and health care are used to solve the health problems of people that suffered from accidents at the place of work. The time series is quite short and a panel data approach is chosen, the cross-sections being represented by these activities of national economy. A panel data approach is applied for all the economic activities in Romania. By taking into consideration all the sectors of the economy, the national perspective is analyzed using the panel technique. A random effects panel model was built for 2008-2013 and there is a positive and significant relationship between the rate of work accidents and sickness/ health care expenses in Romania. If the rate of work accidents increases with 1%, the medical expenses increases with less than 1%. 32.26% of the variation in expenses for sickness and health care in an economic activity is explained by the particularities of the work accidents in each activity.
JEL: C51; C53

This paper presents a study of the housing demand in Iran according to the consumer and investment approach during the period of 1995-2011. The first approach is based on a statistical evaluation of the consumer function, based on system equations, which describes the consumer housing demand as five groups of consumer goods and services. The second approach evaluates the consumer housing demand as a separate investment good, which depends on several factors. Based on the achieved results, the paper makes an analysis of the influence of the different factors on the consumer housing demand.
In consumer approach behavior of the consumers of deciles urban households in all over the country has been assessed, through the panel data by using the Linear Expenditure System (LES) with using Seemingly Unrelated Regression Estimation (SURE) housing consumption demand of households are estimated. Result shows that housing market has been support law of demand with negative income elasticity of 0.81. Also the cross-elasticity of all groups are negative which is indicating that these commodities are supplement for the housing good in the consumption household budget.
The second approach, capital characteristic of the commodity, investigates the impact of price house, and household income, local gold price, consumer goods price index and housing credits on effective housing demand of Iran in same period. The main result of this approach is that price elasticity of housing is positive.
JEL: R20; R21; R31; R32

The paper discusses the challenges concerning the improvement of main factors of industrial development in the frames of the reengineering technology entrepreneurship. The analysis is done with the methods of the complex reengineering theory, having in mind the impact of the processes of globalization, values and potential for industrial growth of the subjects, as well as the state of the local environment they develop in.
The paper focuses on a different view on the determining role of the competition and competitiveness for the industrial development, namely the reengineering technology entrepreneurship, where the competition and competitiveness are major part of the mix of used approaches, mechanisms and instruments for business. Entrepreneurship is considered a power creating the integrity in the business.
The paper reveals that improving the main factors of industrial development in the frames of the reengineering technology entrepreneurship makes the structure of the business better and destroys the powers threatening the development of an economy for the society. The paper determines also the place of the market of entrepreneurial capital in the relation “intellectual market – innovation market – investment market”.
JEL: L25; L26

The research describes the Bulgarian electricity market and the specificity of electricity pricing in Bulgaria. The factors influencing the wholesale and retail energy markets have been analysed. The research explains the transmission network infrastructure availability, the maintenance of transfer capacity, the capacity of the border interconnecting points of Bulgaria with Romania, Serbia, Greece, Macedonia and Turkey and the open tenders of the Bulgarian Electricity system operator (ESO) and the respective Independent Transmission Operators (ITOs) of neighboring countries. The basic ides, lying in the Transmission agreements have been explained. The process of liberalization of the electricity market has been presented as well as the measures, undertaken by the Energy and Water regulatory commission (EWRC) for the participation of industrial electricity consumers at the freely negotiated prices electricity market. The stages of electricity pricing at both the regulated electricity market and the freely negotiated electricity market are explained. The dynamics of the final consumer and the wholesale industry electricity prices for the period 2003-2014 has been analysed. The mechanism of formation of the average electricity price (the so called “price of the electricity mix”) has been explained. The elements of the final electricity selling price: the base price; the supplements (the “green energy” supplement, the supplement for highly efficient electricity production, the supplement for non-recoverable costs); the price addition for transfer through the transmission network and the price addition charge for access to the transmission network. The obligations of the National Electricity Company (NEK EAD) concerning its’ obligation to purchase electricity at the regulated market by electricity generating companies in Bulgaria as well as the problems for NEK EAD after the new electricity price was introduced in Bulgaria after 01.07.2015 have been discussed as well.
JEL: Q4; Q41; Q48

The study is focused on demographic and social problems associated with the depopulation of the Bulgarian villages; dynamics and direction of migration processes. A comparative analysis of the sharpness of these processes to the ones taking place within the EU countries is made. The grounds of forming of the so-called “pull” and “push” factors that determine the migration trends are analysed. Results of a sociological survey about the attitude of the young working-age population to "return to the village" ("de-urbanization") as well as key characteristics of the type of the places that attract them are presented. Based on the study main demographic and social characteristics of the way of forming the motivation for village life are defined. Some generalizations, conclusions and recommendations related to possible measures to limit the depopulation and stimulate immigration processes to the villages are done.
JEL: Q15; R23

The study is dedicated to the presentation of the financial statements from Bulgarian enterprises and the establishment of the potential benefits of the new Directive 2013/34/EU of the European Parliament and of the Council. Regulations to relieve small businesses in the current accounting legislation are analyzed. The changes that should be introduced in the Bulgarian accounting legislation after January 1, 2016 are presented, according to requirement of the European Union. Empirical research based on representative sample is made for the quality of financial statements and using of current relieves. Based on this are drawn conclusions about the potential benefits of new European regulations.
JEL: M41