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The establishment of a program assessment mechanism in the public sector of Georgia is an important element for supporting the ongoing public finance management reform and improving the budgeting process as well as enhancing the budget planning stage and ensuring the efficient, productive and prudent management of budgetary means. The present paper discusses the problem of the absence of a program assessment mechanism in the public sector, reviews alternative solutions to the problem and, by applying a cost-effective method, analyzes the best alternative. This best alternative envisages the establishment of a centralized structural unit at the Ministry of Finance which will be responsible for the assessment of the programs/subprograms of ministries/budgetary organizations. The concluding part of the policy paper offers those measures and reforms in the form of recommendations which must be undertaken for the successful implementation of the best alternative.

The paper focuses on the state of Ukraine's participation in regionalization and globalization processes. The main goal of Ukraine's participation in regionalization and globalization processes is to obtain status of a full member of the EU, which becomes topical in connection with the signing of the association agreement with the EU and the adoption of the export strategy to increase Ukrainian exports of goods while improving its commodity structure. The system approach, the comparative analysis are used, the international statistical data and the materials of the Ukrainian state statistics services are processed. Directions for expanding integration ties are suggested. Priority markets are determined for the export of goods of Ukraine to countries of the EU, Asia, America and Africa.

The paper deals with the technical capabilities of SAP Business One for use in Ukrainian small and medium-sized enterprises (SMEs). In particular, the author considers automatization of all business processes and main modules in this system. The basic technical, functional and organizational advantages and disadvantages of using SAP Business One for domestic companies are determined.

Proper corporate governance structures and principles guide companies towards financial health and lay down the blocks for a sustainable development of the private sector. Moreover, there is a widespread recognition and growing empirical evidence that strong fundamentals of governance are a condition for business benefits largely described by better management, effective boards, improved decision-making process, reduced risk, increased operational efficiency and valuations. Given that trust is a basic condition of functioning capital markets and corporate governance guarantees transparency, accountability and operational integrity, the aim of this present paper is to assess the conformity of the premium traded companies at the Bucharest Stock Exchange with its corporate governance code. The results of our empirical study reveal the ongoing concerns, focus and level of importance given to corporate governance structures and principles by the most trusted and profitable traded Romanian companies.

Reforming the accounting system in the Republic of Moldova and its harmonization with IFRS and European directives takes almost three decades and is a complex technical route which involves important financial and human resources. The given paper aims to present and interpret the way in which the accounting system reform was achieved, how international accounting standards and European directives have been transported into national legislation in order to identify the main waves of the accounting reform and the regulatory changes made by the regulator, of the benefits and costs, advantages and disadvantages arising from the implementation of the reformed regulatory framework. The responses are obtained by applying, as a method of research, the phenomenological interpretive analysis, the documentary and analytical research, the comparative opinion and analysis, thus being categorized as a qualitative empirical research. The results and conclusions of the study will serve as the basis and lessons learned for future reforms. However, knowing the past is building the future.

The present paper aims at analysing the link between Corporate Social Responsibility (CSR) and Corporate Financial Performance (CFP) in the case of Romanian listed companies. For accomplishing this, we will start from the existing literature and we will use data for period 2007-2015 (panel data) to which will apply a simple regression model. From the total number of companies listed on Bucharest Stock Exchange (BSE), we selected 59 companies without being excluding from trading and for which financial data were available for the entire period. The results indicated increased financial performance for CSR companies (only 16 of 59 companies have CSR activities) compared with NON-CSR companies. This study has important implications for policy makers, managers, investors, stakeholders, in generally.

As individuals we are egocentric, consistently intending to enhance our self-interests by satisfying our most demanding needs and accomplishing our targets. After assembling all the missing information and estimating the probabilities that will ease our directions without being too excessive, the decision is being made. Individuals are perceived to be rational investors. Although the theory is teaching us that we all choose based on calculated possibilities and desired outcomes, the observed conduct disproves it. The aim of this paper is to discern how humans behave, react and invest, with the help of an aggregate research based on historical economic contexts and models. By evaluating as well the strategic conduct in uncertain situations will definitely lead to the identification of some patterns in the decision-making process. Because in the end, humans are being distinguished by their pragmatic way of deciding.

In the paper organizational economic mechanism of interaction between transport enterprises and higher education institutes in transport and logistics cluster has been suggested. This mechanism is based on the interaction model between transport enterprises and higher education institutes. New requirements for specialists on the transport services market cause the need for new relations formation between transport enterprises and higher education institutes. Therefore, training of highly specialized workers for transport and logistics cluster entities is possible only if there is effective interaction between enterprises and educational institutions. Comparative analysis of the interaction model was carried out between these entities before their entering to cluster and in cluster structure. It is defined that as a result of interaction between transport enterprises and higher education institutes in transport and logistics cluster, educational institutions could be supported by enterprises (funding, internship) and enterprises would hire qualified employees which level meets their needs. The study defined main goals of investigated objects in transport and logistics cluster, their distribution of the levels and establishment of links.

The paper presents both theoretically and empirically the insolvency risk for 35 companies from the manufacturing industry in Romania, listed on the Bucharest Stock Exchange, at premium and standard categories, during 2007-2016, through four models: Springate, Taffler, Altman, and French Commercial Credit. The results of the research have revealed that during the period 2007- 2016, over 50% of the companies were facing a high insolvency risk, the most risky of them being Cemacon S.A. and Prefab S.A. The less risky companies during the mentioned period of time were Aerostar S.A. and Conted S.A.

A growing literature coming from economics, sociology or psychology explores the wide range of variables that might explain voluntary compliance behaviour. The aim of this paper is to identify the institutional factors associated with tax morale and to highlight the resemblances and the differences among several countries across the world, grouped according to the level of development. Descriptive statistics and principal components analysis are used as methods and the analysis is carried out at country group level. The main results show that no matter the level of development, people' intrinsic motivation to pay taxes can be associated with good institutions and government ability to efficiently allocate public funds.

The paper explores stages that teaching followed in its revolutionizing transitions from Education 1.0 to Educaton 4.0. The study presents a detailed analysis of the scientific approaches, which economists used in examining influence of digital technologies on behavior of young people and on identifying a generation of children as digital natives who grew up in the era of informational changes. An assessment of traits inherent in the new generation of young people has been used as a basis for carrying out a comparative analysis of the features of digital natives with the distinctiveness of digital immigrants. The study identified factors that contributed to growing number of digital immigrants in developing and least developed countries. The notions of digital cowboys and digital nomads are considered in terms of their recent appearance in the academic market. Countries with the highest share of digital natives comprise the high-income and above-average income countries, the countries with very high levels of general Internet penetration, the countries with top ICT Development Index (IDI), and the countries with a relatively high proportion of young people. Solutions are proposed to support digital natives in their educational aspirations and narrow the gap between them and digital immigrants.