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«European Journal of Economic Studies» – international bilingual scientific Journal.

E-ISSN 2305-6282

Publication frequency – issued 2 times a year.
Issued from 2012

Number 1. (in 1 part) June 18, 2014

1. Michael Asiedu, Jacob Owusu Sarfo, Daniel Adjei, Nicholas Asiedu, Henry Adusei
Model of Customer Service, Belongingness and Satisfaction: A Multidisciplinary Analysis of Needs in Ghanaian Banking Sector
DOI: 10.13187/es.2014.8.52CrossRef

The study sought to conceptualise a model to predict the elements of customer service that affect customers’ sense of belongingness and satisfaction. Using structured questionnaires, data collection was done from a sample of two hundred (200) customers of selected commercial banks in Ghana. The study identified customer service, personnel attitude and environment as the customer service elements as predictors of customers’ sense of belongingness and satisfaction. The study also revealed a positive relationship between all the elements of customer service and customer sense of belongingness. In addition, a positive correlation between customer sense of belongingness and customer retention was identified. However, the environmental element was found to be the most important element both for customer sense of belongingness and satisfaction. In conclusion, the study result suggests that for firms in the banking sector to be able to increase their customer retention, they should focus on the customers’ satisfaction and sense of belongingness to the organisation.

URL: http://ejournal2.com/journals_n/1405407569.pdf
Number of views: 1336      Download in PDF

2. Ekaterina N. Khachemizova, Marco Cavedoni
Topical Issues Related to Price Regulation in Tourism Industry
DOI: 10.13187/es.2014.8.62CrossRef

During the pre-Olympic years, a great work has been done in different areas of life. Along with the development of transport telecommunication infrastructure, huge volumes of investments enabled the construction and redevelopment of sports venues, boosted the tourist influx and construction of commercial and residential estates. The mail goal of the post-Olympic Sochi is to become a year-round resort, pay off investments made to the hotel complexes. The study features ways for development of tourism sector in Sochi through advantages of business tourism in summer and winter period and low vacation costs.

URL: http://ejournal2.com/journals_n/1405407654.pdf
Number of views: 1236      Download in PDF

3. Matvej S. Oborin
Regional Peculiarities of Socio-Economic Development of Medical and Health Tourism and Resort-Recreation Activity
DOI: 10.13187/es.2014.8.69CrossRef

The medical and health tourism market in Russia annually develops. The reason lies in poor ecology in some country’s regions and it affects humans’ health condition in general. As a result – reducing of level and quality of human recourses. All these factors can be the reason for economic, social and political problems. In the long run, reduction of human recourses will cause economic slowdowns, decline in personal income and low living standards. The solution for these problems can be found through affordable sanatoriums and health treatment facilities for all segments of population. Unfortunately sanatorium and health treatment services are quite expensive in Russia and there are objective and subjective reasons for that. As a result, such facilities are nor affordable to average people. The article features social and economic peculiarities for resort-recreation activities. The key advantages and disadvantages of sanatorium-resort industry are determined. Different approaches, assessments of resort-recreation potential, characteristic of tourism infrastructure, key elements, classification of resort-recreation infrastructure are reviewed.

URL: http://ejournal2.com/journals_n/1405407712.pdf
Number of views: 1247      Download in PDF

4. Şerife Özlen
The Effects of Domestic Macroeconomic Determinants on Stock Returns: A Sector Level Analysis
DOI: 10.13187/es.2014.8.75CrossRef

Investment analysis should be carefully performed in stock markets. Therefore, firms take necessary actions according to stock market behavior and macroeconomic variables. Therefore, the predictability of stock market determinants becomes important. This study aims to identify the effects of selected macroeconomic factors (interest rate, exchange rates, inflation-consumer price index, current account deficit, unemployment rates and sector indices) on stock returns of selected 48 companies in 11 different sectors of Istanbul Stock Exchange including electric, food, communication, paper, chemistry, metal-main, metal-product, stone, textile, commerce and transportation sectors. The study employs ARDL approach on the period between the second month of 2005 and the second month of 2012 including 85 monthly observations. According to the results, Sector Indices are found to be quite influential through the selected sectors. Exchanges rate is also significantly influential on almost all the sectors except Communication and Textile sectors. The impacts of Interest Rate, Inflation Rate, Current Account Deficit, and Unemployment Rate are various through the selected sectors. Moreover, the influence of Istanbul Stock Exchange Market on the stock returns of considered companies is significantly clear through the sectors except six companies (two companies from Paper sector, one company from Metal-Main sector, two companies from Stone sector and one company from Textile sector) out of 48 companies. Since it includes a wide range of companies and sectors, this study is expected to be useful for all policy makers and investment decisions.

URL: http://ejournal2.com/journals_n/1405407769.pdf
Number of views: 1514      Download in PDF

5. Anastasia V. Samoilikova
The Building of Optimal Financing Structure of Enterprises' Innovation and Investment Activity
DOI: 10.13187/es.2014.8.85CrossRef

This article deals with concept investigation of optimal financing sources structure. There is determination of its role and place in innovative and investment management. Today financial instability in Ukraine and modern global tendencies in world economy have caused the necessity to find new financial recourses to provide realization of innovation and investment activity by every competitive enterprise. The possibilities of self-financing and attraction of budgetary means, internal and external investments, banking credits, venture capital etc. are limited. However every enterprise wants to receive maximum profit on the assumption of minimum costs. Thus special attention is attached to analysis and improvement of scientific and methodical approaches of optimal financing structure building of enterprise’s innovation and investment activity. This article is very topical as far as theoretical researches and practical application design in this field are important in modern conditions of innovation development and financial instability.

URL: http://ejournal2.com/journals_n/1405407830.pdf
Number of views: 1445      Download in PDF

6. Vladlena V. Siganova, Irina V. Kozhushkina
The Impact of Investment Activity on the Financial Stability of the Enterprise
DOI: 10.13187/es.2014.8.93CrossRef

In modern economic conditions finances play the key role in the management of the enterprise. The indicators of financial stability characterize all activities in general, identify problem areas in cash flow management, planning and distribution. In this regard, the study of factors influencing financial stability, is very important for the financial management and the development of effective strategies. The link between investment activity and financial stability of business entities is not taken into consideration in economic literature, while it is clear that the impact of investment is complex, defining the situation in the industry and its competitiveness, the development and modernization of production. The interrelation of investment and financial sustainability are considered in the analysis of key financial-economic indicators of the leading industrial enterprises of the Russian economy. Research allowed to reveal general regularities of influence of investment activity on the financial stability, the absence of adequate methodological tools for assessing and forecasting financial stability, the need to develop a new system of indicators for measuring financial stability.

URL: http://ejournal2.com/journals_n/1405407900.pdf
Number of views: 1337      Download in PDF

7. Nadezhda Serdyukova, Larisa Romanova, Dmitrii Serdyukov
Territorial Brand as a PR Tool of Tourist Routes
DOI: 10.13187/es.2014.8.99CrossRef

The articles with issues linked to formation and promotion of territorial brand. It has been noted that the brand ‘Krasnodar Krai Resorts’ must fulfill the image function and be a motivator for tourist influx to the region. The unified brand shall set an associative line in consumers’ minds.

URL: http://ejournal2.com/journals_n/1405407971.pdf
Number of views: 1370      Download in PDF

8. Garnik A. Simonyan, Igor V. Turitsyn
Issues of Development of Tourist-Recreation Complex of Crimea in Market Conditions
DOI: 10.13187/es.2014.8.107CrossRef

The article deals with the issues of tourism-recreation sector development in the post-Soviet era. Here we highlight the key issues and solutions.

URL: http://ejournal2.com/journals_n/1405408039.pdf
Number of views: 1234      Download in PDF

9. Svetlana A. Tomskih
Point and Purpose of Accounting Policy in Tax Regulation for Budgetary Institutions
DOI: 10.13187/es.2014.8.113CrossRef

The article features point and purpose of accounting policy of a budgetary institution. The key principles of accounting policy development in budgetary institutions are reviewed. Here we analyze the conditions determining a strict order in the procedure of calculation of taxes and duties paid by public sector institutions.

URL: http://ejournal2.com/journals_n/1405408102.pdf
Number of views: 1299      Download in PDF

10. Evgeniya V. Vidishcheva, Irina I. Potapova, I. Kirtskhalia
Post-Olympic Cluster Development of Sochi
DOI: 10.13187/es.2014.8.120CrossRef

Building and development of tourist cluster is an important area for recreation zones. The out-of-country research has proved clusters to be a stimulator for innovations and productivity. Strengthening the cluster in the region helps to develop its own brand, which is undoubtedly, becomes a key competitive advantage.

URL: http://ejournal2.com/journals_n/1405408181.pdf
Number of views: 1251      Download in PDF

full number
URL: http://ejournal2.com/journals_n/1405408203.pdf
Number of views: 1400      Download in PDF

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