In Georgia, A pension fund includes pension contributions made by employers, employees, the government, as well as any investment returns, gains or losses accrued on pension assets. The amount of accumulated funds depends on the amount of individual contributions, the profit of the fund and the number of participants. The pension system is a source of long-term financial resources, which contributes to the development of the capital market, the latter having a positive effect on the country's economy. Implementation a private pension system in our country is the most optimal decision, which will improve the long-term pension provision of pensioners. Countries in a situation similar to Georgia do not have to invent any radical innovations in the mentioned field, because European countries have a rich and diverse experience in the development of the social sphere. Sharing their experience is enough to develop your own model and successfully implement it in practice. Due to the great importance of pension funds, their accounting and reporting were included in the international accounting standards from the beginning. The first standard to regulate pension accounting with international practice - Statement of Standard Accounting Practice (SSAP) 24 - was created in Great Britain, which was launched in 1988 and remained for 12 years. The present value of the expected future payments under the pension program can be calculated and presented based on the current salary level, or on the basis of the projected salary level of the plan participants covering their entire period of service until retirement. In many countries, actuarial valuations are carried out at least every three years. If the actuarial valuations are not ready by the reporting date, the actuarial valuations of the nearest period are used as the base of the calculations and the valuation date is indicated. The management of pension funds are responsible for preparing and submitting financial statements of these funds. The government of the pension agency in Georgia are: the director, the supervisory board, the investment board and the senior investment officer. The director's responsibility is to ensure the continued operation and management of the agency. Pension Agency of Georgia presented the interim financial statements of the accumulative pension scheme as of June 30, 2022 and 2021, which include: financial statement; Statement of changes in net assets and explanatory notes to financial statements. The presented financial statements are prepared in full compliance with International Financial Reporting Standards ("IFRS"): IAS 26 - Accounting and Reporting for Pension Programs. The approved budget of the pension fund for 2022 amounts to 8,115 million GEL, which is financed by the annual service fee of pension assets, within the scope of the powers granted by the law. 65% of the budget is intended for agency management and administrative activities, and 35% for investment activities. Th
{"title":"ACCOUNTING AND FINANCIAL REPORTING ISSUES OF PENSION FUNDS IN GEORGIA","authors":"Diana Uglava","doi":"10.52244/ep.2023.25.10","DOIUrl":"https://doi.org/10.52244/ep.2023.25.10","url":null,"abstract":"In Georgia, A pension fund includes pension contributions made by employers, employees, the government, as well as any investment returns, gains or losses accrued on pension assets. The amount of accumulated funds depends on the amount of individual contributions, the profit of the fund and the number of participants. The pension system is a source of long-term financial resources, which contributes to the development of the capital market, the latter having a positive effect on the country's economy. Implementation a private pension system in our country is the most optimal decision, which will improve the long-term pension provision of pensioners. Countries in a situation similar to Georgia do not have to invent any radical innovations in the mentioned field, because European countries have a rich and diverse experience in the development of the social sphere. Sharing their experience is enough to develop your own model and successfully implement it in practice. Due to the great importance of pension funds, their accounting and reporting were included in the international accounting standards from the beginning. The first standard to regulate pension accounting with international practice - Statement of Standard Accounting Practice (SSAP) 24 - was created in Great Britain, which was launched in 1988 and remained for 12 years. The present value of the expected future payments under the pension program can be calculated and presented based on the current salary level, or on the basis of the projected salary level of the plan participants covering their entire period of service until retirement. In many countries, actuarial valuations are carried out at least every three years. If the actuarial valuations are not ready by the reporting date, the actuarial valuations of the nearest period are used as the base of the calculations and the valuation date is indicated. The management of pension funds are responsible for preparing and submitting financial statements of these funds. The government of the pension agency in Georgia are: the director, the supervisory board, the investment board and the senior investment officer. The director's responsibility is to ensure the continued operation and management of the agency. Pension Agency of Georgia presented the interim financial statements of the accumulative pension scheme as of June 30, 2022 and 2021, which include: financial statement; Statement of changes in net assets and explanatory notes to financial statements. The presented financial statements are prepared in full compliance with International Financial Reporting Standards (\"IFRS\"): IAS 26 - Accounting and Reporting for Pension Programs. The approved budget of the pension fund for 2022 amounts to 8,115 million GEL, which is financed by the annual service fee of pension assets, within the scope of the powers granted by the law. 65% of the budget is intended for agency management and administrative activities, and 35% for investment activities. Th","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117087947","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The level of environmental pollution is the main criterion that determines the quality of living conditions in cities. One of the most dangerous environmental problems of cities that affects the health of the population is atmospheric air pollution by road transport. In the city of Kyiv, the total volume of pollutant emissions from stationary sources in 2020 amounted to 25.5 thousand tons, from mobile sources almost 9 times more – 225.8 thousand tons. The comprehensive air pollution index (API) is used to characterize air quality in cities which allows you to determine how many times the total level of air pollution with several impurities exceeds the permissible value and to identify substances that contribute the most to atmospheric pollution. In most European countries, the USA, Canada and others, the air quality index (AQI) is used to control the level of atmospheric air pollution. When calculating the AQI, the concentration of pollutants is determined by field studies (monitoring) or mathematical modelling. In contrast to monitoring, which is a rather expensive study, mathematical modelling provides not only an operational assessment of the level of atmospheric pollution but also makes it possible to forecast the state of the air and to determine strategies for reducing pollutant emissions. In this regard, the creation of methods that allow making operational forecasts of the level of atmospheric pollution in cities and preventing critical situations in which the concentration of pollutants exceeds the maximum permissible values is an extremely urgent task.
{"title":"METHODOLOGY FOR ASSESSING THE LEVEL OF ATMOSPHERIC POLLUTION BY ROAD TRANSPORT IN THE PROJECTS OF MANAGEMENT OF ENVIRONMENTAL STATE OF A CITY","authors":"O. Bakulich, Evgeny Samoilenko, Yuriy Peskovets","doi":"10.52244/ep.2023.25.12","DOIUrl":"https://doi.org/10.52244/ep.2023.25.12","url":null,"abstract":"The level of environmental pollution is the main criterion that determines the quality of living conditions in cities. One of the most dangerous environmental problems of cities that affects the health of the population is atmospheric air pollution by road transport. In the city of Kyiv, the total volume of pollutant emissions from stationary sources in 2020 amounted to 25.5 thousand tons, from mobile sources almost 9 times more – 225.8 thousand tons. The comprehensive air pollution index (API) is used to characterize air quality in cities which allows you to determine how many times the total level of air pollution with several impurities exceeds the permissible value and to identify substances that contribute the most to atmospheric pollution. In most European countries, the USA, Canada and others, the air quality index (AQI) is used to control the level of atmospheric air pollution. When calculating the AQI, the concentration of pollutants is determined by field studies (monitoring) or mathematical modelling. In contrast to monitoring, which is a rather expensive study, mathematical modelling provides not only an operational assessment of the level of atmospheric pollution but also makes it possible to forecast the state of the air and to determine strategies for reducing pollutant emissions. In this regard, the creation of methods that allow making operational forecasts of the level of atmospheric pollution in cities and preventing critical situations in which the concentration of pollutants exceeds the maximum permissible values is an extremely urgent task.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"13 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132352810","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
For two years in a row, the economy of Georgia has undoubtedly achieved good results in various directions of the national economy. The country has achieved double-digit economic growth, the volume of investments is increasing, the tourism sector has regained the positions lost due to the coronavirus and their number is increasing, and the GEL is strengthening intensively. The support of the Western partners is great in this. There is no alternative to European orientation for Georgia, but we must go through this path with as few losses as possible and efficiently. Against the background of the difficult situation created in the world, the increased risks, the Russia-Ukraine war, the stable economic growth of Georgia is clearly outstanding and provides a basis for solid optimism. At the same time, the strengthening of the lari in the recent period helped to slow down the inflation of imported goods. However, although the growth rate of nominal wages has increased recently, the total productivity has the dynamics of recovery, which means that at this stage there is no significant pressure on inflation from the labor market. The aggression shown by Russia towards Ukraine and the start of hostilities in the region have a significant impact on the economy of Georgia. The war started by Russia against Ukraine gave rise to new risks, in particular, the sanctions and supply restrictions imposed on Russia due to the hostilities significantly increased the prices of certain categories of goods on the world markets. Consequently, inflation has increased significantly in both developed and developing economies. The harmful influence of the Kremlin at the international level includes many aspects, in which, along with military and political, economic and informational directions are no less important. In the background of the aggressive invasion of the Russian Federation in Ukraine in February 2022 and the unprecedented package of sanctions imposed after the war, the economic aspect has acquired special importance. Among the relations between Russia and Europe, the energy issues came forward with particular intensity. In the recent period, significant positive changes have been made in the economic growth of Georgia, and in these positive changes, construction, financial and insurance activities, transport and warehousing and trade sectors. A special contribution was made by the field of foreign trade. According to him, trends in foreign trade and tourism contributed to economic growth. In particular, in the month of March 2023, we have an approximately 33 percent increase in exports. Georgia is convincingly increasing its export figures, although the country has better utilized its neighbors and is less represented in the western markets. Besides, a large share in the statistics is re-export, i.e. products imported from other countries and then exported from there. Compared to the previous years, the recent growth is in the direction of net exports, but the
{"title":"THE IMPACT OF FOREIGN TRADE TURNOVER AND EXPORT-IMPORT ON THE ECONOMY OF GEORGIA","authors":"Davit Bidzinashvili","doi":"10.52244/ep.2023.25.08","DOIUrl":"https://doi.org/10.52244/ep.2023.25.08","url":null,"abstract":"For two years in a row, the economy of Georgia has undoubtedly achieved good results in various directions of the national economy. The country has achieved double-digit economic growth, the volume of investments is increasing, the tourism sector has regained the positions lost due to the coronavirus and their number is increasing, and the GEL is strengthening intensively. The support of the Western partners is great in this. There is no alternative to European orientation for Georgia, but we must go through this path with as few losses as possible and efficiently. Against the background of the difficult situation created in the world, the increased risks, the Russia-Ukraine war, the stable economic growth of Georgia is clearly outstanding and provides a basis for solid optimism. At the same time, the strengthening of the lari in the recent period helped to slow down the inflation of imported goods. However, although the growth rate of nominal wages has increased recently, the total productivity has the dynamics of recovery, which means that at this stage there is no significant pressure on inflation from the labor market. The aggression shown by Russia towards Ukraine and the start of hostilities in the region have a significant impact on the economy of Georgia. The war started by Russia against Ukraine gave rise to new risks, in particular, the sanctions and supply restrictions imposed on Russia due to the hostilities significantly increased the prices of certain categories of goods on the world markets. Consequently, inflation has increased significantly in both developed and developing economies. The harmful influence of the Kremlin at the international level includes many aspects, in which, along with military and political, economic and informational directions are no less important. In the background of the aggressive invasion of the Russian Federation in Ukraine in February 2022 and the unprecedented package of sanctions imposed after the war, the economic aspect has acquired special importance. Among the relations between Russia and Europe, the energy issues came forward with particular intensity. In the recent period, significant positive changes have been made in the economic growth of Georgia, and in these positive changes, construction, financial and insurance activities, transport and warehousing and trade sectors. A special contribution was made by the field of foreign trade. According to him, trends in foreign trade and tourism contributed to economic growth. In particular, in the month of March 2023, we have an approximately 33 percent increase in exports. Georgia is convincingly increasing its export figures, although the country has better utilized its neighbors and is less represented in the western markets. Besides, a large share in the statistics is re-export, i.e. products imported from other countries and then exported from there. Compared to the previous years, the recent growth is in the direction of net exports, but the","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"356 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115936992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article presents the analytical description of the current situation of aquaculture development in Samtskhe-Javakheti region and in Georgia in general. The data about sector development natural potential are provided, the indicators of the fish production dynamics are analyzed in the paper. Water resources have a great potential and their ecological-sound use enables Georgia to meet not only an internal demand of the country on the fresh water fish, but also due to specifics of the local waters, produce export product. Internal water resource of fresh water for fishery production includes total water surface of 16,900 ha of 860 lakes. Samtskhe-Javakheti region is distinguished with the specific water resources compared to other regions. The regions is rich with the hydro-resources, including the R. Mtkvari water-collecting basin, the basin of the rivers Uraveli, Paravani, Borjomistskali and Gujaretistskali with total size 6,250 m2, with the total water resource of 3, 475 mln m3. The region territory covers 15 non-drying, 25 drying and 64 little lakes, 5 water reservoirs transforming into the swamp of the hydro-resource objects. The total size of the basin of the main lake exceeds 983 m2, the volume of the water reaches to 400 million m3. The water reservoir located in the Lirbalakhi basin in the region includes 2.08 million m3, and the size of the swamps is 817 ha in the region. The article studies the dynamics of the land plots occupied by aquaculture. According to the data, there is 23% of growth of the land plots occupied by aquaculture in entire Georgia; while the situation is different in the target region, there is 10% of reduction, followed by reduction of the share of aquaculture land from 11.1% until 10.6%. Study of the aquaculture fodder supply demonstrated that use of combined fodder is increasing in Georgia; average rate of the growth consists of 5-7 % in the country, while the rate is higher in Samtskhe-Javakheti region, where use of combined fodder achieved 35% of growth. There is tendency of growth in use of all kind of fodder. The index of the fodder expenses reached 1.30 throughout entire country, while it is 1.38 in Samtskhe-Javakheti, indicating strengthening of the fodder basis and intensive development of the field. The analysis of fish production dynamics is also an indicator for the further development of the aquaculture. In 2021 compared to 2019, there is 16% of growth in production of the fish, comprising 2,861 tons. The growth achieved 24% in the same period in the region what can be considered as a positive phenomenon in fishery production in Georgia, where the share of the fish farms (family-run) was increased up to 60% with growing engagement of the farmers aged 25-45 from 20% up to 29%. The rate of fish production is in compliance with the increased rate of water stock. The study revealed the specific problems (fish structure, diversification of the fodder, veterinarian service, growing of young fish) requiring s
{"title":"THE ROLE FOR DEVELOPMENT OF AQUACULTURE IN ECONOMIC GROWTH OF SAMTSKHE-JAVAKHETI REGION OF GEORGIA","authors":"Lavrenti Chiburdanidze, Tsiskara Zarandia","doi":"10.52244/ep.2023.25.06","DOIUrl":"https://doi.org/10.52244/ep.2023.25.06","url":null,"abstract":"The article presents the analytical description of the current situation of aquaculture development in Samtskhe-Javakheti region and in Georgia in general. The data about sector development natural potential are provided, the indicators of the fish production dynamics are analyzed in the paper. Water resources have a great potential and their ecological-sound use enables Georgia to meet not only an internal demand of the country on the fresh water fish, but also due to specifics of the local waters, produce export product. Internal water resource of fresh water for fishery production includes total water surface of 16,900 ha of 860 lakes. Samtskhe-Javakheti region is distinguished with the specific water resources compared to other regions. The regions is rich with the hydro-resources, including the R. Mtkvari water-collecting basin, the basin of the rivers Uraveli, Paravani, Borjomistskali and Gujaretistskali with total size 6,250 m2, with the total water resource of 3, 475 mln m3. The region territory covers 15 non-drying, 25 drying and 64 little lakes, 5 water reservoirs transforming into the swamp of the hydro-resource objects. The total size of the basin of the main lake exceeds 983 m2, the volume of the water reaches to 400 million m3. The water reservoir located in the Lirbalakhi basin in the region includes 2.08 million m3, and the size of the swamps is 817 ha in the region. The article studies the dynamics of the land plots occupied by aquaculture. According to the data, there is 23% of growth of the land plots occupied by aquaculture in entire Georgia; while the situation is different in the target region, there is 10% of reduction, followed by reduction of the share of aquaculture land from 11.1% until 10.6%. Study of the aquaculture fodder supply demonstrated that use of combined fodder is increasing in Georgia; average rate of the growth consists of 5-7 % in the country, while the rate is higher in Samtskhe-Javakheti region, where use of combined fodder achieved 35% of growth. There is tendency of growth in use of all kind of fodder. The index of the fodder expenses reached 1.30 throughout entire country, while it is 1.38 in Samtskhe-Javakheti, indicating strengthening of the fodder basis and intensive development of the field. The analysis of fish production dynamics is also an indicator for the further development of the aquaculture. In 2021 compared to 2019, there is 16% of growth in production of the fish, comprising 2,861 tons. The growth achieved 24% in the same period in the region what can be considered as a positive phenomenon in fishery production in Georgia, where the share of the fish farms (family-run) was increased up to 60% with growing engagement of the farmers aged 25-45 from 20% up to 29%. The rate of fish production is in compliance with the increased rate of water stock. The study revealed the specific problems (fish structure, diversification of the fodder, veterinarian service, growing of young fish) requiring s","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121570869","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Due to its nature, the population is quite a dynamic and mobile phenomenon, which is manifested in its natural and mechanical movement. It is significantly influenced by many factors. It is significantly influenced by many factors. The influence of some of them is reflected in a short period of time when the balance of a number of indicators of the socio-economic structure of the population is disturbed. But there are such vital indicators, which in certain periods of time develop with similar tendencies based on existing and developed demographic events in previous years. Both the absolute and relative birth rates of the population remind us of the same basic, sharply defined signs during the formation of each new and subsequent generation. The result of its influence is not visible in the current statistical data of each year, but periodically, in an equal period of time, in the appropriate time and space, these traits are transmitted to the new generation without reduction (due to low birth rates, increase in migration processes, relatively less number of births due to severe social conditions in the reproductive age have fewer children throughout the country…) Due to this qualitative nature, the study of the factors affecting birth rates and demographic analysis is always a field of special interest for those interested in the study of demographic processes. It can be safely said that demographers make a "recipe" about the future sex-age structure of the population based on the natural movement of the population during such analysis. This feature of population mobility is a very important vector for the future programs and forecasts of the state. General birth rates are an approximate measure of the birth level, as the number of births is divided by the total population, which includes the population that is physiologically, due to youth or old age, unable to bear children, and the population that does. Therefore, the quantity of general birth rates depends on the age structure, i.e. On the number and share of young women of reproductive age (15-49 years) in the population. In order to more accurately describe the birth rate, demographers calculate a special birth rate. The special birth rate for 2021 was 57.5, which means that on average there are 57.5 newborns for every 1,000 women during the year. The birth rate of the population is determined by the demographic structure (sex, age, marriage and family structure) and reproductive behavior. Birth rate is a mass demographic process of the population. It is influenced by various kinds of external factors: natural-biological, socio-economic, psychological, existential-cultural, religious and others. It is interesting what trends characterize the main indicators of the population dynamics of today's Georgia. The National Statistical Service of Georgia published an official report on the main indicators of the natural and mechanical movement of the country's population. In our opinion, special a
{"title":"THE INFLUENCE OF SOCIO-ECONOMIC FACTORS ON MODERN TENDENCIES OF BIRTH-RATE","authors":"Naira Virsaladze, Malvina Kipiani","doi":"10.52244/ep.2023.25.11","DOIUrl":"https://doi.org/10.52244/ep.2023.25.11","url":null,"abstract":"Due to its nature, the population is quite a dynamic and mobile phenomenon, which is manifested in its natural and mechanical movement. It is significantly influenced by many factors. It is significantly influenced by many factors. The influence of some of them is reflected in a short period of time when the balance of a number of indicators of the socio-economic structure of the population is disturbed. But there are such vital indicators, which in certain periods of time develop with similar tendencies based on existing and developed demographic events in previous years. Both the absolute and relative birth rates of the population remind us of the same basic, sharply defined signs during the formation of each new and subsequent generation. The result of its influence is not visible in the current statistical data of each year, but periodically, in an equal period of time, in the appropriate time and space, these traits are transmitted to the new generation without reduction (due to low birth rates, increase in migration processes, relatively less number of births due to severe social conditions in the reproductive age have fewer children throughout the country…) Due to this qualitative nature, the study of the factors affecting birth rates and demographic analysis is always a field of special interest for those interested in the study of demographic processes. It can be safely said that demographers make a \"recipe\" about the future sex-age structure of the population based on the natural movement of the population during such analysis. This feature of population mobility is a very important vector for the future programs and forecasts of the state. General birth rates are an approximate measure of the birth level, as the number of births is divided by the total population, which includes the population that is physiologically, due to youth or old age, unable to bear children, and the population that does. Therefore, the quantity of general birth rates depends on the age structure, i.e. On the number and share of young women of reproductive age (15-49 years) in the population. In order to more accurately describe the birth rate, demographers calculate a special birth rate. The special birth rate for 2021 was 57.5, which means that on average there are 57.5 newborns for every 1,000 women during the year. The birth rate of the population is determined by the demographic structure (sex, age, marriage and family structure) and reproductive behavior. Birth rate is a mass demographic process of the population. It is influenced by various kinds of external factors: natural-biological, socio-economic, psychological, existential-cultural, religious and others. It is interesting what trends characterize the main indicators of the population dynamics of today's Georgia. The National Statistical Service of Georgia published an official report on the main indicators of the natural and mechanical movement of the country's population. In our opinion, special a","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127000354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Anticipating consumer behavior is one of the key issues in modern marketing. Since consumers are the main target of any company or organization, enterprise, or trader, and the final link in a value chain, it is important to study and analyze the factors that influence their behavior patterns. This will allow companies to better understand the needs and expectations of consumers, thus enabling them to better meet those needs. As known, the model of consumer behavior is influenced by many factors. The process of making buying decisions is complex and multifaceted. Each consumer is unique and uses their specific set of attributes for selection. Additionally, in many cases, consumers themselves find it difficult to identify the most important and decisive factors for them. That's why it is not surprising that psychological factors, which influence the process of selecting and purchasing various products, receive special attention from scientists and marketers. Factors such as motivation, perception, attitude, and expectations determine our daily life and individual behavior. The study of these factors enables us to anticipate this behavior from social, economic, cultural, or psychological perspectives. The article discusses and analyzes the characteristics that can influence consumer behavior, preferences, and perceptions. Importantly, psychological factors play a paramount role in shaping consumer choices, especially in the food products industry. In this particular market, consumers not only seek to satisfy their physiological needs but also prioritize products that meet their requirements, adhere to safety standards, and exhibit high quality. As known, meat and meat products are important sources of protein in the modern human diet and represent a major food product. To determine consumer preferences in the raw meat market, we conducted a consumer survey. A total of 394 respondents residing in the Imereti region were interviewed. Among them, 209 respondents participated in the field survey, while 185 filled out the questionnaire online. Another significant finding in the research is the fact that the majority of respondents cannot buy raw beef and pork frequently. Only 17.8% of respondents say that they buy meat twice a week. 33.2% of respondents manage to buy meat once a week. 21.1% of respondents buy meat once every two weeks, and 17% of respondents buy meat once a month. Additionally, 10.9% of respondents buy meat even less often. The provided data are particularly noteworthy in the context that Georgia ranks among the lowest in Europe in meat consumption. (Beswick, 2019). While the average daily meat consumption in Europe by 2030 is 165 grams, in Georgia this figure is 101.85 grams. Moreover, in many cases, beside the high prices, distrust is a barrier when making purchases. In the course of the research, we studied in which outlets consumers prefer to buy raw meat and what determines their choice. The study has once again convinced us that th
{"title":"PECULIARITIES OF CONSUMER BEHAVIOR IN THE PROCESS OF PURCHASING RAW BEEF AND PORK","authors":"T. Valishvili, Elguja Deisadze","doi":"10.52244/ep.2023.25.13","DOIUrl":"https://doi.org/10.52244/ep.2023.25.13","url":null,"abstract":"Anticipating consumer behavior is one of the key issues in modern marketing. Since consumers are the main target of any company or organization, enterprise, or trader, and the final link in a value chain, it is important to study and analyze the factors that influence their behavior patterns. This will allow companies to better understand the needs and expectations of consumers, thus enabling them to better meet those needs. As known, the model of consumer behavior is influenced by many factors. The process of making buying decisions is complex and multifaceted. Each consumer is unique and uses their specific set of attributes for selection. Additionally, in many cases, consumers themselves find it difficult to identify the most important and decisive factors for them. That's why it is not surprising that psychological factors, which influence the process of selecting and purchasing various products, receive special attention from scientists and marketers. Factors such as motivation, perception, attitude, and expectations determine our daily life and individual behavior. The study of these factors enables us to anticipate this behavior from social, economic, cultural, or psychological perspectives. The article discusses and analyzes the characteristics that can influence consumer behavior, preferences, and perceptions. Importantly, psychological factors play a paramount role in shaping consumer choices, especially in the food products industry. In this particular market, consumers not only seek to satisfy their physiological needs but also prioritize products that meet their requirements, adhere to safety standards, and exhibit high quality. As known, meat and meat products are important sources of protein in the modern human diet and represent a major food product. To determine consumer preferences in the raw meat market, we conducted a consumer survey. A total of 394 respondents residing in the Imereti region were interviewed. Among them, 209 respondents participated in the field survey, while 185 filled out the questionnaire online. Another significant finding in the research is the fact that the majority of respondents cannot buy raw beef and pork frequently. Only 17.8% of respondents say that they buy meat twice a week. 33.2% of respondents manage to buy meat once a week. 21.1% of respondents buy meat once every two weeks, and 17% of respondents buy meat once a month. Additionally, 10.9% of respondents buy meat even less often. The provided data are particularly noteworthy in the context that Georgia ranks among the lowest in Europe in meat consumption. (Beswick, 2019). While the average daily meat consumption in Europe by 2030 is 165 grams, in Georgia this figure is 101.85 grams. Moreover, in many cases, beside the high prices, distrust is a barrier when making purchases. In the course of the research, we studied in which outlets consumers prefer to buy raw meat and what determines their choice. The study has once again convinced us that th","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"288 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121229890","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In order to achieve sustainable development of the country's economy, it is especially important to promote entrepreneurial activities by developing and implementing strategic state policies. Economic growth and progress is achieved by the development of production. In order to develop an effective entrepreneurial policy, it is necessary to study the definitions of terms. The understanding of the meaning of "entrepreneurial ecosystem" as a term is diverse and it has undergone changes over time. In order to understand its modern content, it is necessary to analyze the appropriate scientific literature. In general, entrepreneurship involves the process by which people take advantage of innovative opportunities. The concept of entrepreneurial ecosystem emphasizes that entrepreneurial processes take place among interdependent actors (Stam, 2015: 1761). In short, in this case, the term "ecosystem" should be understood as "economic system" and not as "ecological system". Later, Angelo Cavallo, along with other scientists, focused again on the biological definition of an ecosystem (Cavallo… 2018: 10). The term "entrepreneurial ecosystem" was first used in 2005-2006 by scholars Prahalad and Cohen to describe conditions where individuals, business representatives, government members, civil society and partners come together to support regional entrepreneurial activities that provide economic prosperity (Cohen, 2006: 3). The concept of entrepreneurial ecosystems is considered a promising field of research that promotes interconnected entrepreneurial activities (at different levels of analysis) and includes a wide variety of stakeholders and actors in the market (Simatupang... 2015: 394). The entrepreneurial ecosystem approach starts with the entrepreneurial individual (rather than the firm) but also emphasizes the role of the social and economic context surrounding the entrepreneurial process (Spigel… 2018: 3). Predecessors of entrepreneurial ecosystem researchers have different emphases in this direction, although common approaches and research conclusions can be seen between them. Even today, when there is a scientific study of such a complex issue as the entrepreneurial ecosystem, certain problems arise in the research process. According to various scholars, the concept of entrepreneurial ecosystem should be developed in three directions: first, the concept of entrepreneurial ecosystem and related empirical studies remained only at the theoretical level. Second, little is still known about which interplay of factors at different levels of analysis leads to the desired outcomes of economic development. Third, there is still a substantial, conceptual disagreement about what the desired outcome of an entrepreneurial ecosystem is and how to achieve that outcome (Simatupang... 2015: 389-390). It should be noted that the entrepreneurial ecosystem model is evolving. Therefore, it is clear that the entrepreneurial ecosystem is a very complex, multi-level "const
{"title":"ENTREPRENEURIAL ECOSYSTEM – FROM CONCEPT TO POLICY (A BRIEF LITERATURE REVIEW)","authors":"Ana Polodashvili","doi":"10.52244/ep.2023.25.01","DOIUrl":"https://doi.org/10.52244/ep.2023.25.01","url":null,"abstract":"In order to achieve sustainable development of the country's economy, it is especially important to promote entrepreneurial activities by developing and implementing strategic state policies. Economic growth and progress is achieved by the development of production. In order to develop an effective entrepreneurial policy, it is necessary to study the definitions of terms. The understanding of the meaning of \"entrepreneurial ecosystem\" as a term is diverse and it has undergone changes over time. In order to understand its modern content, it is necessary to analyze the appropriate scientific literature. In general, entrepreneurship involves the process by which people take advantage of innovative opportunities. The concept of entrepreneurial ecosystem emphasizes that entrepreneurial processes take place among interdependent actors (Stam, 2015: 1761). In short, in this case, the term \"ecosystem\" should be understood as \"economic system\" and not as \"ecological system\". Later, Angelo Cavallo, along with other scientists, focused again on the biological definition of an ecosystem (Cavallo… 2018: 10). The term \"entrepreneurial ecosystem\" was first used in 2005-2006 by scholars Prahalad and Cohen to describe conditions where individuals, business representatives, government members, civil society and partners come together to support regional entrepreneurial activities that provide economic prosperity (Cohen, 2006: 3). The concept of entrepreneurial ecosystems is considered a promising field of research that promotes interconnected entrepreneurial activities (at different levels of analysis) and includes a wide variety of stakeholders and actors in the market (Simatupang... 2015: 394). The entrepreneurial ecosystem approach starts with the entrepreneurial individual (rather than the firm) but also emphasizes the role of the social and economic context surrounding the entrepreneurial process (Spigel… 2018: 3). Predecessors of entrepreneurial ecosystem researchers have different emphases in this direction, although common approaches and research conclusions can be seen between them. Even today, when there is a scientific study of such a complex issue as the entrepreneurial ecosystem, certain problems arise in the research process. According to various scholars, the concept of entrepreneurial ecosystem should be developed in three directions: first, the concept of entrepreneurial ecosystem and related empirical studies remained only at the theoretical level. Second, little is still known about which interplay of factors at different levels of analysis leads to the desired outcomes of economic development. Third, there is still a substantial, conceptual disagreement about what the desired outcome of an entrepreneurial ecosystem is and how to achieve that outcome (Simatupang... 2015: 389-390). It should be noted that the entrepreneurial ecosystem model is evolving. Therefore, it is clear that the entrepreneurial ecosystem is a very complex, multi-level \"const","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125500516","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A successful strategy is a well-defined long-term strategy, which leads the company to achieve its desired goals and along with it, predicting the expected slow changes in the environment and the opportunities created there. It also gives a chance to find a cost advantage. However, developing and implementing such a strategy in today's rapidly changing environment is associated with many challenges. Among them, one of the most important is the right choice of operational strategy and the compatibility of this strategy with the company's mission. However, if the mission is to tell the public about the company, what makes it similar to its competitors, the main challenge of the operations strategy is to distinguish the given company from competitors with the same mission. All operations, regardless of how correctly they are planned and controlled, always contain a certain potential for development, which does not require a radical change in the budget. It is the realization of such, seemingly insignificant, but numerous opportunities, in the final analysis, ensures the continuous development of the company's operational processes and systems, manufactured products and rendered services. Two important things happen at this time. The first is that all directions of the operational strategy, be it customer relationship management, measures to increase the company's productivity, or the design of innovations, are interrelated and, one might say, interdependent processes; Second, and more importantly, a key management challenge has shifted the planning of operational processes from a position of control to development. Unfortunately, in most national companies, there is no clear development strategy, let alone an operational strategy. And where a strategic development plan seems to exist, very little attention is paid to the challenges of the company's core operating function and to operational development in general. In order to find out what attention should be paid to operational development, we more than 100 managers of small and medium businesses were interviewed in Kutaisi and its surroundings. Analyzing the obtained results gave us the following picture: 36% of respondents have not even heard of a strategic development plan and, naturally, have no idea what operational strategy and operational development should mean; and of those who confirm that they are well aware of the importance of a strategic development plan, almost half (46% to be more precise) have not heard of such a need for the operational strategy of the main creator of such a plan. That is, in fact, 67% of the respondents have no idea even about the essence of operational strategy. It is even more problematic that 18% of the total number of respondents perceived "operative development" as a medical term. The Japanese call continuous development "Kaizen". It can be safely said that today "Kaizen" also represents a culture of successful company development. Although it refers to deve
{"title":"CONTEMPORARY CHALLENGES OF SUCCESSFUL STRATEGY","authors":"Emzar Julakidze","doi":"10.52244/ep.2023.25.02","DOIUrl":"https://doi.org/10.52244/ep.2023.25.02","url":null,"abstract":"A successful strategy is a well-defined long-term strategy, which leads the company to achieve its desired goals and along with it, predicting the expected slow changes in the environment and the opportunities created there. It also gives a chance to find a cost advantage. However, developing and implementing such a strategy in today's rapidly changing environment is associated with many challenges. Among them, one of the most important is the right choice of operational strategy and the compatibility of this strategy with the company's mission. However, if the mission is to tell the public about the company, what makes it similar to its competitors, the main challenge of the operations strategy is to distinguish the given company from competitors with the same mission. All operations, regardless of how correctly they are planned and controlled, always contain a certain potential for development, which does not require a radical change in the budget. It is the realization of such, seemingly insignificant, but numerous opportunities, in the final analysis, ensures the continuous development of the company's operational processes and systems, manufactured products and rendered services. Two important things happen at this time. The first is that all directions of the operational strategy, be it customer relationship management, measures to increase the company's productivity, or the design of innovations, are interrelated and, one might say, interdependent processes; Second, and more importantly, a key management challenge has shifted the planning of operational processes from a position of control to development. Unfortunately, in most national companies, there is no clear development strategy, let alone an operational strategy. And where a strategic development plan seems to exist, very little attention is paid to the challenges of the company's core operating function and to operational development in general. In order to find out what attention should be paid to operational development, we more than 100 managers of small and medium businesses were interviewed in Kutaisi and its surroundings. Analyzing the obtained results gave us the following picture: 36% of respondents have not even heard of a strategic development plan and, naturally, have no idea what operational strategy and operational development should mean; and of those who confirm that they are well aware of the importance of a strategic development plan, almost half (46% to be more precise) have not heard of such a need for the operational strategy of the main creator of such a plan. That is, in fact, 67% of the respondents have no idea even about the essence of operational strategy. It is even more problematic that 18% of the total number of respondents perceived \"operative development\" as a medical term. The Japanese call continuous development \"Kaizen\". It can be safely said that today \"Kaizen\" also represents a culture of successful company development. Although it refers to deve","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124661424","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper discusses current studies on interbank transactions and the financial performance and sustainability of Nigeria’s deposit money banks (DMBs). Banks’ capacity to absorb liquidity shocks and lend to one another is critical for financial stability and economic development, since strains in interbank transactions may put pressure on non-financial companies and consumers’ financing circumstances, resulting in increased credit risk. The sub-market analysis may be used to determine the performance of other financial markets. The data for DMBs were examined using appropriate statistical methods. In light of the study performed, it can be concluded that interbank transactions have an effect on the financial performance and sustainability of deposit money banks in Nigeria. The research found that, while adhering to regulatory requirements for credit policy, deposit money banks should perceive interbank loans and deposits as less hazardous investment alternatives and thus be prepared to trust one another in order to improve their financial performance.
{"title":"INTERBANK TRANSACTIONS, FINANCIAL PERFORMANCE AND SUSTAINABILITY IN DEPOSIT MONEY BANKS","authors":"Adeshola Olunuga, O. Agbesuyi","doi":"10.52244/ep.2023.25.05","DOIUrl":"https://doi.org/10.52244/ep.2023.25.05","url":null,"abstract":"This paper discusses current studies on interbank transactions and the financial performance and sustainability of Nigeria’s deposit money banks (DMBs). Banks’ capacity to absorb liquidity shocks and lend to one another is critical for financial stability and economic development, since strains in interbank transactions may put pressure on non-financial companies and consumers’ financing circumstances, resulting in increased credit risk. The sub-market analysis may be used to determine the performance of other financial markets. The data for DMBs were examined using appropriate statistical methods. In light of the study performed, it can be concluded that interbank transactions have an effect on the financial performance and sustainability of deposit money banks in Nigeria. The research found that, while adhering to regulatory requirements for credit policy, deposit money banks should perceive interbank loans and deposits as less hazardous investment alternatives and thus be prepared to trust one another in order to improve their financial performance.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"182 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116443632","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
From the second half of the 19th century, the Government of tsarist Russia, expressing the political and economic, first of all, military-strategic interests of its country, began the construction of a railway in Transcaucasia. The construction of the railway was also important for Georgia, it meant the victory of capitalist industry, its rapid development and the visible growth of local markets. Among the main cities of Georgia, only Kutaisi remained without the main line of the Transcaucasian railway. The article describes the contribution made by the great public figure, great Georgian N. Nikoladze to the construction of the railway in Kutaisi and the construction of the Kutaisi - Tkibuli railway line. From the 2nd half of the 19th century, the government of tsarist Russia, expressing the interests of its country's capitalism, started the construction of railways to Transcaucasia. This measure was aimed to transform Georgia and Transcaucasia into a key base of sales of products and a source of raw materials. The construction of the railway was also important for Georgia, and it meant the victory of capitalist industry, its rapid development and the exponential growth of local markets. The issue of railway construction in Kutaisi is closely connected with the name of a prominent public figure and great Georgian N. Nikoladze, who had not only talent of a painter, but also talent of an industrialist and a statesman. According to the original project, the Transcaucasian railway line was supposed to pass through: Senaki, Kutaisi, Kvirila and Gori, but during the construction, this project was changed for various reasons by society of capitalists constructing the road, and Kutaisi was bypassed by the main Transcaucasian line. It was withdrawn from the city at a distance of 8 miles. Naturally, this provoked the appropriate reaction of urban society, because all this severely shortened economic life of the city. In 1871, during the visit of Emperor Alexander II to Kutaisi, during a meeting with the Kutaisi community, the foundation was laid in the construction of a separate branch from Kutaisi to the Transcaucasian main line, which was completed in 1877, and the connecting point in Sarbevi was named “Rioni” instead of “Kutaisi” station. The Kutaisi-Rioni railway line, it was a useless and belated present for Kutaisi to compensate for the injustice made during the construction of the Transcaucasian Railway Line. After that, Kutaisi society had one hope left. Now the main thing was to make sure that the line of Tkibuli did not miss Kutaisi. The mentioned problem - the connection of the Tkibuli line with Kutasi - was solved as a result of N. Nikoladze's efforts. Despite the works accrued out, leaving Kutaisi without the main railway greatly complicated the political and economic situation of the civil administrative, military authorities, as well as the military, political and social state of the city, because Kutaisi was the most important city and the
{"title":"NIKO NIKOLADZE AND RAILWAY CONSTRUCTION AS A FACTOR OF THE DEVELOPMENT OF KUTAISI","authors":"N. Lukhutashvili","doi":"10.52244/ep.2023.25.07","DOIUrl":"https://doi.org/10.52244/ep.2023.25.07","url":null,"abstract":"From the second half of the 19th century, the Government of tsarist Russia, expressing the political and economic, first of all, military-strategic interests of its country, began the construction of a railway in Transcaucasia. The construction of the railway was also important for Georgia, it meant the victory of capitalist industry, its rapid development and the visible growth of local markets. Among the main cities of Georgia, only Kutaisi remained without the main line of the Transcaucasian railway. The article describes the contribution made by the great public figure, great Georgian N. Nikoladze to the construction of the railway in Kutaisi and the construction of the Kutaisi - Tkibuli railway line. From the 2nd half of the 19th century, the government of tsarist Russia, expressing the interests of its country's capitalism, started the construction of railways to Transcaucasia. This measure was aimed to transform Georgia and Transcaucasia into a key base of sales of products and a source of raw materials. The construction of the railway was also important for Georgia, and it meant the victory of capitalist industry, its rapid development and the exponential growth of local markets. The issue of railway construction in Kutaisi is closely connected with the name of a prominent public figure and great Georgian N. Nikoladze, who had not only talent of a painter, but also talent of an industrialist and a statesman. According to the original project, the Transcaucasian railway line was supposed to pass through: Senaki, Kutaisi, Kvirila and Gori, but during the construction, this project was changed for various reasons by society of capitalists constructing the road, and Kutaisi was bypassed by the main Transcaucasian line. It was withdrawn from the city at a distance of 8 miles. Naturally, this provoked the appropriate reaction of urban society, because all this severely shortened economic life of the city. In 1871, during the visit of Emperor Alexander II to Kutaisi, during a meeting with the Kutaisi community, the foundation was laid in the construction of a separate branch from Kutaisi to the Transcaucasian main line, which was completed in 1877, and the connecting point in Sarbevi was named “Rioni” instead of “Kutaisi” station. The Kutaisi-Rioni railway line, it was a useless and belated present for Kutaisi to compensate for the injustice made during the construction of the Transcaucasian Railway Line. After that, Kutaisi society had one hope left. Now the main thing was to make sure that the line of Tkibuli did not miss Kutaisi. The mentioned problem - the connection of the Tkibuli line with Kutasi - was solved as a result of N. Nikoladze's efforts. Despite the works accrued out, leaving Kutaisi without the main railway greatly complicated the political and economic situation of the civil administrative, military authorities, as well as the military, political and social state of the city, because Kutaisi was the most important city and the ","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130143565","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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