The model of general system is a process-orientation of learning dynamics in and across complexly interrelated orders. Within such a general system model is found the specific field of unified, that is organic and endogenously circularly inter-related embedding between economy, finance, and the business world-systems. Business social ethics or socio-business ethicality is a problem of epistemological genre. It glues the circularly inter-related sub-systems and their representative behavioral preferences and variables in an explanatory way. Formulation of the emergent analytics in comparative perspectives between mainstream and Islamic economic, finance and business world-systems according to their distinct moral and ethical episteme is the objective of this paper. The true epistemological direction to the systemic understanding of socio-business ethicality is opened up for conceptual and applied investigation. The comparative study of morality and ethics that characterizes social ethicality of the embedded organizational and business world with human and social consciousness in it belongs to the generalized epistemological premise of unity of knowledge as mentioned above. But this methodological approach takes up a distinctive character in the Islamic worldview from the moral and ethical understanding in mainstream business ethical theory. The emergent methodology is thereby of a heterodox Epistemological nature. The Islamic heterodox difference, which is of a significant nature, replaces the rationalistic individual behavioral aggregation of ethical preferences into social business ethicality, is a utilitarian model. In it lateral aggregation fails to explain the interactive, integrative and evolutionary learning nature of social ethicality that the Islamic episteme of oneness establishes. Business and organization get embedded in ethics as generic forces derived from the episteme of oneness of knowledge. Thereby, ethics derived from epistemic oneness plays its role throughout the social structure of such institutions. Individual ethics and social ethics are causally interrelated in social reconstruction of business and organization by evolutionary learning according to epistemic oneness. This universal epistemic worldview remains in action in ethical-social reconstruction. An extensive review of the literature is critically studied both for mainstream and Islamic cases against the emergent moral reconstruction of the social ethicality of business and organization. It is found that the epistemological approach of unity of knowledge explains social ethicality of business organization in terms of the resulting extensively systemic worldview. Such a perspective is not usually understood in traditional theory of business ethics. Consequently, the theory of business social ethics remains deficient of its otherwise systemic meaning. Social business conveys the overarching ethics in business and organizational behavior. The focus and objective of this paper is to develop the Islamic heterodox epistemological theory of social ethics and point out its inner dynamics and potential application. This task is carried out in contrast between the mainstream and prevailing Islamic heterodox perspectives of theory, comprehension, and conduct of business ethics on epistemic grounds.

The paper compares priorities of national and regional development strategies. Issues and treatments of effective coastal regions development has been discovered. Integrated assessment principles of coastal territories social-economic status has been proved. Also advices to take into account displayed threats during national and regional strategic plans development has been formulated.

A new theory of learning organization bordering evolutionary economics and management is introduced. It is referred to as evolutionary learning organizational theory of behavior, decision-making, and goals of wellbeing in the larger context of the organization in a systemic sense of organic relations. The structure, functions, and analytical features of such an organization are studied in the context of an epistemological approach in order to lay down the inherent theory. This leads to a mathematical and rigorous explanation of the theory in a comparative and contrasting light with other contributions on learning organizations. The exemplification of the unique theory of evolutionary learning organization is found to exist in Islamic epistemological context. The study then is made for this particular case within a generalized system model of wellbeing for decision-making of the firm that over-arches-intra-system and inter-systems at large.

The article summarizes the research on the impact of FDI on economic growth. Considered how foreign direct investment affect the competitiveness of the economy, the negative and positive effects of foreign investments attraction. Analyzed the foreign investment inflows in Eastern Europe and the CIS. Studied the dynamics of foreign direct investment in the Republic of Uzbekistan, the investment climate and investment attractiveness of the country. The article were specified the directions of the further improvement of the investment policy of Uzbekistan.

The article investigates the process of implementation at the municipal level tools of results-based budgeting. The main problems and shortcomings of the modern practice of formation and use of the reports on results and main directions of activity, target programs, registers of services, the standards of quality of services, municipal targets, needs assessment of the municipal services and calculation of costs for municipal services are considered on the example of municipal formations of the Vladimir region. Special attention is paid to assessing the relationship of tools of results-based budgeting between themselves and their integration into the budget process of the municipality.

The main idea in this publication is to provide opportunities through non-financial metrics to monitor some key indicators of the condition and perspectives of the business. In introduction, the author discusses the necessity for a management accounting interpretation some no-money-valuable, but business-significant objects and events. Briefly are mentioned some of the arguments for and against the use of non-financial metrics in accounting. In the first part graphically is illustrated the two-dimensional metric that uses modern financial reporting, i.e. in money and time and is criticized financial accounting measurement, in particular the limited possibilities of that measurement for presentation of resources such as customer loyalty, experience of staff, or brand perception. In the next two parts introduces some ideas and techniques for one-dimensional and multidimensional scanning to monitor the status and changes in non-financial indicators of business performance. It is suggested to follow an algorithm that includes: clearly define the characteristics to be measured, to destruction this feature to its dimensions, to select indicators by which to detect the parameters of these dimensions and finally, to form an index reflecting the state of the feature. Further, monitoring of dynamics of this index will make it possible to establish changes in the appearance of this characteristic. Proposed in this manuscript approaches, procedures, techniques and calculations are demonstrated with concrete examples. They can be applied in the case of other «invisible assets», but the author does not claim to their versatility. So, the challenges remain.

Article tests the current possibilities offered by the new marketing tools in the application of the selected organization. The first chapter of article defining the basic concepts related to the theory about the new trends in terms of online marketing communication. The analytical part focuses on the evaluation conducted a survey in which we follow the reactions of respondents carried out in form of online marketing and testing the impact of these factors in creating a positive image of the organization. To obtain the necessary information and data article uses the method of exploration, through questionnaires, which principle is based on data by subjective responses of the respondents. The survey, which was attended by a total of 209 respondents, was conducted through a questionnaire. This article is one of the partial outputs of the currently solved research grant VEGA no. 1/1338/12 entitled «The Impact of Virtual Social Networks on Potential Consumers and Increase of Competitiveness of Slovak SMEs»

Little, if any, has been published on the robustness of the Fama & French multi-factor model in emerging and little markets, such as the Tunisian Stocks’ market. This paper extends the existing literature and provides an out-of sample check on the performance of size and BE/ME factors proposed by Fama & French (1993). It firstly investigates the relation of stock returns with size and BE/ME ratio for equities listed in the Tunisian Stocks ‘market during the period July 1998-June 2004.The evidence we find support the presence of size and BE/ME effects in the Tunisian stocks’ market. We find that the mimic portfolio for size (SMB) and the mimic portfolio for BE/ME generate positive returns, which is consistent with a risk-based explanation for size and BE/ME effect. The second purpose of this paper is to examine the explanatory power of the three-factor model of Fama & French (1993) in the Tunisian stocks ‘market. We estimate a one factor model (CAPM) and the three-factor model of Fama & French (1993). The results give evidence on the additional explanatory power of SMB and HML factors of Fama & French, relative to the market factor, for cross-section of stock returns in the Tunisian Stocks’ market. Findings of this paper have implications for investors in the Tunisian stock market exchange. We suggest that investors must tilt their portfolios in favor of characteristics such as firm's BE/ME and size. Note that by tilting portfolios in favor of these characteristics investors are exposed to additional sources of risk.

The dynamics of the trade balance before and after the accession of Ukraine to the World Trade Organization are analyzed in the article. The approaches to defining «export credit» are considered. Two main groups of definitions due to the classification of export credits are identified. The features of export credit insurance with state support are revealed. The necessity of the development of export credit insurance as an important instrument of state support of export activity in Ukraine is grounded. To activate such insurance the determining operator of the insurance companies within the existing infrastructure of the insurance market is offered.

The aim of this study is to explain the trajectory of institutional change. It focuses in the social relations and property rights of agricultural land market- Bulgaria during (1878-2013). The reforms define institutional change. Retrospective analysis explains the factors that influence long-term patterns of human behavior and property rights in the agricultural land market. Forecast: The reforms will not change distribution of property rights. On operational level the local monopolies will support high levels of transaction costs. Opportunistic behavior is a special, incidental cooperation between market participants versus administration. In this way the market participants would avoid some of transaction costs. Most of the socio-economic relationships that are defined from “land” will be stopped forever. Proposals to improve the institutional changes are associated with creation of competition within the process and integration of property rights through information.