Varazdin Development and Entrepreneurship Agency in cooperation with Azerbaijan State University of Economics (UNEC) University North Faculty of Management University of Warsaw Faculty of Law, Economics and Social Sciences Sale - Mohammed V University in Rabat Economic and Social Development 37" international Scientific Conference on Economic and Social Development — "Socio Economic Problems of Sustainable Development" Book of Proceedings Editors: Muslim tbrahimov, Ana Aleksic, Darko Dukic Iss 149-7535 | Baku, 14-15 February 2019 '71849"753006" > © —Varazdin Development and Entrepreneurship Agency in cooperation with Azerbaijan State University of Economics (UNEC) University North Faculty of Management University of Warsaw Faculty of Law, Economics and Social Sciences Sale - Mohammed V University in Rabat Editors: Muslim tbrahimov, Ana Aleksic, Darko Dukic Economic and Social Development 37" international Scientific Conference on Economic and Social Development — "Socio Economic Problems of Sustainable Development" Book of Proceedings Baku, 14-15 February 2019‘Bile M Eenomic and Socia] Develoment (Book of Proceedings), 37* ItemationalScimtific Conference on Beonamic nd Socal Development — Socie Economic robs of Susana Developmsnt™ ait W Muslim Inahimov, An Abs, Dako Dukic Scientific Commitee / Prepramdi Odber Marj Cngula, University of Zageb, Croatia @resden); Adult Meradow, Azabaij Sate ‘Unteasay of Economics (UNEC),Azsrban (Co-President), Mach Almadov, Azetbusjen Sate Unaverry of Bzonomics (UNEC), Asean; Alt Atrayey, Acubajin Sate University of Economics (UNEC), Aznbaijan, Unnuver Alpev, Azmbajan Sate University of Eeonamics (UNEC), ‘Azarbeijn, Suara Paguel Ales - Unies of Avero, Prtugu Ayibe A. Amma, Univesity of Machgiri, Maidgin, Nigeria, Anana Anastong, ‘Victoria Unsersty, Australia; Gori Sekar Bandyopadiyay, The University of Budirm, RajbatiBardhumm, hid, Hamat Beri dan tne cf Technology, Kharagpur, ula, Ehsabet de Jesus Olvera Ergo - Unwversty of Aver, Portage, Alle Bobylave, The Lamanosov Moscow Ste ‘Unirasay, Russ; Leonid Bobrov, Sute Universay of Economics and Manageme, Novorbira, Russi Rado Bohine, Unset of Liens, Slovenia, Zale Atl Buh, Deus Byaal Unwversty, Nakey, Abu Celie, Selcuk Univesity - Kanga, Tey, Angelo Mai Cister, Federal Univesiy) cf Bin de Jueo, Brasil Mirela Cristea, Univesity of Cruiova, Romania’ Sete Cozovic, University of Nis, Serbia; Ogu Dem, sunbu Commerce Untesay, Tekey, 15 Devarae, Unsiesity of Mysore, nda; Grae Dogan, Daas Byinl Unversity, Tukey, Dako Dulac, Universty of Osijek, (rostia; Gordana Duke, Univerray of Osijek, Costin; Chia Meranda Veloso - Unser of vero, Parnagn: Alba Duns, Vira Unsversay, Viace, ‘Abunin; Keene Dumicic, Univesay of Zagreb, Costin; Galma Pavlrua Gagarmscaya, Sara Sate Unsiersty, Rises; Ban Galtic, Zagreb ‘Uniresay, Croatia Maryn Glgoric Pcl of Beonomics, Belgrade Unuversty, Serbia; Mebentt Bae Gorguh, Afyan Kocatepe Unser, Rakey, ‘Abkeandn, Grobe, Géyain Markie Untrregy, Poland, Lavinia Guaicovs, Peter the Grest Sunt Petersbing Pobtedmic Univers, Rises; ‘Yadatle Hasan, Azatbaijn Sate Univesity of Enomics (UNEC), Azabu Anica Huet, Unsresty Nor, Koprimic, Crotta; Miskm. Irahinov, Azubajn Sate Uivesay of Economics (UNEC), Assay, Abay Innayibv, Azan Sate Unsesiy of Economics (UNEC), Asabuijn; Oxma Ireova, Ulymowsk Sute Unversity, Uirmowsk, Russa, eu Jrkovic Ficuby of Bronamnics, Belgade Univasty, Serbia; art Seine, Univesity of Rijeka, Croetn; Me] Jones, Radford Univesity, USA; Gara Justine, Geaduate Sthoolef Govenmnmt and European Stes, Slovenia; Hacer Smay Kara, Pumadale Universty Trey, Grargarz Kerasivncs, Untvesty of Wars, Poland: shad Karin, Azebaijn Sate ‘Unters of Eonamirs (UNEC), Azeoaijn, Dfna Harv, The Colege of Management Academic Staies,Richan Le Zon, lel, Sah Katresogh, Enstem Medtermnem Unereay, Nortiem Cypmis, Rnkey; Hal Yui Keser, Undag Universay, Bust, Tey; Mastza Dragin Kosi, Sop Hhulmove, Hstiute of Etonames anf Industrial Bageerg of Shean Branch of Fassimn Aradeny of Scence, Novosbise, Puss, Marina ‘baer Calpe, Univrstyof Zageb, Cros; Viadana Kovsca, Univers of Zagreb, Costin; Goran Kozina, University Noth, Kopramic, Costa, Doman Kulovic Unwersty of Znuce, Bosna and Herzegovina, Bobet Lewis, Les Roches Grave Univesity of Applid Scimces, Bulle, Swizerland, Ladishy Lalas, Unwv. of West Bohemia, Ficuly of Economics, Ceech Repebli; Zahid Manmadov, Azabujan Sate Univasty of Economics (CUNEO), Azabasjn, Gabsl Maafov,Azerbaijen Sate Unsersay of Economics (UNEC), Azerbaijan, Pascal Marty, University’ of La Roche, ance; Vaidous Mantis, Vinuis Univrsiy, Lalwana, Marja Mkac Seok, GEA Colege of Exirpreneuship, Lxbljuna, Slovuje; Daniel Rancois ‘Mayer, North West University, Sout Africa; Marin Mikovic Rector, Univesay North, Koprimara, Cota, Zatko Nedelko, Unversity of Marr, Slovenia; Gratila Georgana Noje, West University of Tanisowa, Ramania, Znasena Novak, Corvin Univesity of Budapest, Hnguy, Alojzy Z ove, Univesity of Wasa, Poland; Tomasz Ochinowdi, Univesay of Wars, Poland; Misi Ante Omazic, Uriversty of Zagreb, Croat; Vert. Pale, Uhivesta degh Sui di Tori, Maly; Dusko Pavlovic, Lbaras Itemutional Univesity, Zag, Crotta;Igar Phur ~ Uruversty of Zageb, Grout; Dinko Primorac, Univesity Noh, Kopramice, Crottia; Zelfa Pranarac, Univesity of Spit, Croatia; Azar Reayev, Azmbaijn Sate Uniervay of Economics (UNEC), Azerbaijan; Mzorlnn Praygnds, Univesay of Wars, Poland, Karle Pumas, Unsesty of Latin, Lavin; Nichols Recher, Metopolim Sate Univesity of Denver, USA, Keny Redicen, Vrghia Tech, Bladsturg, USA; Himbeto Ribeiro, Uneesiy of ‘Aveiro, Paagal, Robert Rybnice, University of Graz, Asta; Kamal Shabbezav, Azabaijn Sate Unsersty of Eronamics (UNEC), Azabu, Joanna’ Sava, Unsresiy of Lode, Polind, Ezbiete'Sammancia, Balystok Univesity of Technolgy, Poland, Katargy Stymanst, The Sate Higher School of Vocatinal Edacatin m Cichanovr, Poland, Jin Tyna, Univesity of Wassne, Poland, Iara Taare, Universay'of Naples Putheope, lay, Pebda Danijel Viahov, Uniersay of Zagreb; Ike Vearic, Unwersty of Zageb, Cromit; Sunishor Wabkiewss, Bulytae ‘Univesay of Technology, Pola; Thomas Wil, Agnes Scott College, USA; Saat Vegsbov, Azerbaijn Sute University of Eronamics (UNEC), Acabein, Li Yonguimg, Vitra Univesty, Anscula; Peter Zabildeis, University of Maciu, Chin, Tho Zeng, Witid Laurier Unies, ‘Waterloo, Canada; Grzegers Ziman, aaszow Univesty of Tedmology, Poland, Shezua Zedcovie, Univesity of Nis, Sabie Review Committee / Recencentsli Odber M Marin Kiacner Celops President); Ana Aldsic; Sura Raquel Abts; Aye Ami, Movil ‘Andjelnovir; Josip Americ; Lie Baguric, Temish Bakovi, Saye Bhzevic, Leonid Bobrov; Busia Brecc, Ana Cth Casa Iona Chemyshy, Mirela Crises, Oguz Dem, asm Dvorshi, Xjgpm Doors Robert Fabac, ce Flpovic Shusa rjc, Fan Galitic; Mixa Gigare; Tams Gb Anta Gol Unat, Tomislav Hereg, Mashma Inahimoy, Kena Jaikovic, Bai Jerkovic; Dna Kari; Oliver Kesar, Hie Viki Keser, ‘Tatjana Kovac; Vadim Kovsca, Angelo Maia Cster, Katarina Micosevic; Vaidotas Mantis, Marja Merkac Seb, Josip Mile, Lbice Mianovic (Givan; Daniel ancois Mayer; Netarja Meyer; Geter Moeller, Ira Naciovic Brae; Zatko Nedeko; Gates Georgana Noje, Zeussema Novak, Aka Obadse; Chudia Ogem, iga Pur, Nuja Podrug, Voko Botocm; Dako Prima, Zea Prmaac, Sad Riko; Himbato Rbero, Vist. ‘Roses; Sonia Std, Amando Iver Sunchez Diaz, Tamisay Sel, Lorena Seif, Mo Smal; Petar Sorc; Mari Spremic; Matjez Str, Tomasz ‘Stadsincks Leja Tine, Deel Tami, Boris Task; Rebeka Daniela Vihow, Iko Vrankic, Thomas Wal Zoran Wine; Tao Zong, Craegare ‘Zmoon, Shezane Zthovic; Bessy Zone Organizing Committe / Orgunizacijshi Odber Adalt Mradov (reset); Domago} Cingue (Co-Presient); Samar Aliyev; Shaft Alzade; Marna Khmer Calpe; Asin Galiyev, ham Huseynow; Alay Imuyiloy, ishad Kerml, Spammko Kesina; Bio Koscak Zahid Maamadov, ‘Mirosior Praygoda, Azar Reayey; Michael Stuf Rebeka Danjela Vihow; Sine Vacetic; Mikayal Zeyalay; Suet Yegubov. Publishing Editer M Damage) Cigale Publisher Design M Print Varun Develomuent nd Bireprenershp Agcy, Veaatin, Costa / Azan Sate Univesty of Beams (ONEC), Bana, Azerbaijan / University Noth, Kopramice, Coan acuby of Management University of Warsnr, Wars, Poland /Fucuy of Lav, ‘Beonomaics and Socal Sciences Sule - Mabaumned V Unserty m Pabst, Morocco Printing M Ontine Baton ssw 1849-7535, ‘Tas Books open acces and dovble-bind peer severed (Ow past Books ae indexed mid abstracted by ProQusst, BeonBLZ, CPCT (WS) and BeonLt databases nd avaiable for dowmload i « PDF fost ‘ram the Economic end Social Development Conference webste: hip: Jira esd-conference cam (9 2019 Varaz din Devdepment and Entrepreneurship Agency, Varazdin, Croatia; Arerbaijan State University of Eeenamirs (UNEC), Balu, Azerbaijan, University Nerdh, Keprivnira, Croatia, Faruty of Management University of Warsaw, Warsaw, Peland, Faculty of Law, ‘Eeenemcs ad Secial Sciowes Sale - Melamed V University n Rabat, Merecce. Allright reserved. Authors re responsible fr the Inguistz snndtechnical accuracy of thes contains. Astor ep ter copyrights for further poblchingCONTENTS ACADEMIC ENTREPRENEURSHIP AS AN IMPORTANT FACTOR OF SUSTAINABLE ECONOMIC DEVELOPMENT .. 1 Alijan Abbasov SUSTAINABLE ECONOMIC DEVELOPMENT AND AZERBAIJAN. Alasgarova Aygun Agasalim ISSUES CONCERNING IMPLEMENTATION OF THE INNOVATIVE DEVELOPMENT STRATEGY IN THE PUBLIC ADMINISTRATION SYSTEM......16 Naila Akbundova Fariz THE NECESSITY OF THE ORGANIZATION OF INNOVATIVE PRODUCTION IN THE REGIONS... 26 Naila Eyvazova, Xatira Maharramova APPLICATION OF THE HIERARCHY ANALYSIS METHOD TO ASSESS THE PRIORITIES OF BUSINESS PROCESSES IN HIGHER EDUCATION INSTITUTION 32, ‘Yagubov Sakit Mamadi Oglu, Aliyev Ali Imash Oglu ESTIMATION OF INNOVATION ACTIVITY OF THE REGIONS OF THE AZERBAIJAN REPUBLIC... 41 Arzu Huseynova, Tarana Salifova, Ophelya Mazanova STATISTICAL ASPECTS OF TRADE RELATIONS BETWEEN AZERBAIJAN AND GEORGIA.. 1 Asiman Quliyev, Nino Abesadze, Otar Abesadze, Lala Amanova THEORETICAL AND PRACTICAL ASPECTS OF THE PARTICIPATION OF CIVIL SERVANTS IN DECISION-MAKING AFFECTING BUSINESS ACTIVITIES 7 Afag Huseyn CAPITAL MARKETS UNION AND EUROPEAN COVERED BONDS INITIATIVE FOR UPGRADING CAPITAL MARKETS IN THE NEW MEMBER STATES ........67 Ivana Bajakic THE CURSE OF TRANSFERS? MODELLING FISCAL POLICY EFFECTIVENESS IN AZERBAIJAN ...... 76 Khatai Aliyev A GLANCE THROUGH TWO DECADES OF SLOVENE-RELATED RESEARCH IN AUDITING 86 Daniel Zdolsek, Timotej Jagric, Iztok Kolar DO RESEARCH AND INNOVATION STIMULI IMPROVE THE COMPETITIVENESS OF PRIVATE FIRMS? EVIDENCE FROM THE SLOVAK REPUBLIC 95 Vladimir Balaz, Katarina Karasova, Martina ChrancokovaIMPACT OF ECONOMIC DIGITIZATION ON THE DEVELOPMENT OF ENTREPRENEURIAL ACTIVITY. 103 Irada Valiyeva Hatam CYBER-ATTACKS AND INTERNET OF THINGS AS A THREAT TO CRITICAL INFRASTRUCTURE. 108 Alen Simec CLUSTER POLICY AND ITS FORMATION FEATURES.. Abmadova Turana Vahid 2 THE PROSPECTS OF DEFENCE COOPERATION BETWEEN THE EUROPEAN UNION, THE RUSSIAN FEDERATION AND THE PEOPLE'S REPUBLIC OF CHINA 8 Bostjan Petemelj, Petar Kurecic, Igor Klopotan INTEGRATION OF AZERBAIJAN FINANCIAL MARKET INTO INTERNATIONAL FINANCIAL MARKETS... 126 Kenish Garayev HUMAN CAPITAL DEVELOPMENT & ECONOMIC GROWTH: AN EMPIRICAL STUDY ON JORDAN... 132 ‘Muslum Ibrahimov, Mustafa Mohammad Alalawneh EKOLOGICAL AND ECONOMIC ASPECTS OF THE USE OF NATURAL RESOURCE POTENTIAL IN SUSTAINABLE DEVELOPMENT OF THE REPUBLIC OF AZERBAIJAN ..... 142 Valida Mehdiyeva, Igar Khalilov THE ROLE OF INVESTMENTS IN RESOLUTION OF SOCIO-ECONOMIC PROBLEMS . 152 Niyazi Hasanov SOCIOECONOMIC BACKGROUND VERSUS PUBLIC SUPPORT: WHAT MATTERS FOR STUDENT PERFORMANCE? .. 156 Vladimir Balaz, Tomas Jeck INNOVATION MANAGEMENT IN THE CONTEXT OF SMART CITIES DIGITAL TRANSFORMATION... 165 Benjamin Grab, Cristian llie THE ROLE OF THE BUSINESS IN THE PROVISION OF SUSTAINABLE SOCIO- ECONOMIC DEVELOPMENT.. 175 Aliyev Mahammad MANAGEMENT INNOVATION OF PRODUCTS AND SERVICES IN STRATEGIC MANAGEMENT... 179 Biljana llic, Milos Nikolic MICROFINANCE AND MATERNAL HEALTH .. Habib Ahmad, Syed Zulfigar Ali ShahMACROECONOMIC ANALYSIS AND EVALUATION OF THE TRANSITION TO THE SUSTAINABLE DEVELOPMENT STRATEGY OF AZERBAIJAN... 199 Mahish Abmedov EVALUATION OF EXPORT DIRECTIONS OF AZERBAIJAN IN THE WORLD MARKET... 206 Muzaffar Mammadov IMPACT OF INTEREST RATES ON MANUFACTURING’S SHARE OF GD! Farhad Mikayilov, Salman Najafov 212 APPLICATION OF INNOVATIVE KNOWLEDGE FOR EFFECTIVE RECOVERY OF INDUSTRIAL WASTE IN MANUFACTURING PROCESSES OF WOODWORKING INDUSTRY...... 219 Eva Ruzinska ON INTERNATIONAL EXPERIENCE OF ESTABLISHING GROWTH POLES... 229 Muslum Ibrahimov, Victor Zaharov, Elena Stryabkova Mikhail Kochergin, Samadova Mehriban THE ROLE OF FINANCIAL CONTROL OVER INCREASING THE EFFICIENCY OF USING BUDGET FUNDS... 238 Ramil Huseynov NEW APPROACH TO MANAGEMENT EDUCATION IN THE POST-SOVIET STATES... 248 Kamil Shahbazov STRUCTURAL MODEL OF ECONOMIC DEVELOPMENT OF AZERBAIJAN: CHALLENGES AND OUTLOOKS.. 253 Irshad Karimi DOMINANCE IMPROVEMENT OF THE EXPANSION MECHANISM OF AZERBAIJAN FOREIGN ECONOMIC RELATIONS.. 261 Ramis Azizov STATISTICAL ANALYSIS OF EMPLOYMENT AND UNEMPLOYMENT IN AZERBAIJAN 267 Ramiz Javadov ROLE OF TOURISM IN SOCIAL DEVELOPMENT OF THE REPUBLIC OF AZERBAIJAN... 271 Saadat Gandilova Tagi LINKING INNOVATION AND NATIONAL COMPETITIVENESS .. Rozana Veselica EFFECTIVE UTILIZATION OF HUMAN POTENTIAL AND LABOR PRODUCTIVITY. 288 Alirza Israfil MammadovMAIN ASPECTS OF IMPROVING THE FINANCIAL SUSTAINABILITY OF THE STATE AND THE USE OF INTERNATIONAL BORROWING IN THE REPUBLIC OF AZERBAIJAN..... 295 Damirov Yashar Rafael Oghlu FINANCIAL STABILITY ASSESSMENT OF THE BANKING SECTOR ON THE BASIS OF COMPOSITE INDEX ... 303 Avaz Akbar Alakbarov, Nigar Pirverdi Ashurbayli-Guseynova, Aybeniz Anver Qubadova, Behruz Ahmedov BUILDING AN INNOVATION ECOSYSTEM IN AZERBAIJAN - ON THE BASIS OF THE STUDY OF ISRAELI PRACTICE... 312 Bahruz Babayev, Nazim Hajiyev IMPLEMENTATITON OF NEW APPROACHES IN RESEARCH OF INNOVATIVE SPECIAL POLYMER COMPOSITES .. 320 Eva Ruzinska THE EFFECT OF CAPITAL STRUCTURE ON FIRM EFFICIENCY... Rovshan Guliyev, Salman Najafov 328 SUSTAINABLE DEVELOPMENT OF TOURISM IN AZERBAIJAN: CURRENT SITUATION, PROBLEMS AND SOLUTION... 332 Gadir Bayramli MECHANISMS OF NATURAL RESOURCE REVENUES AND ECOLOGICAL BALANCE... 340 Ceyhun Hajiyev THE CURRENT STATE OF THE AZERBAIJAN REPUBLIC BUDGET POLICY AND THE PROSPECT OF ITS IMPROVEMENT. 348 Rauf Gushkhant BUDGET AND NON-FINANCIAL ASSETS.. Dubravka Mahacek, Aleksandar Veev, Damir Sebo 359 DIRECTIONS OF IMPROVEMENT OF THE INVESTMENT MECHANISM ENSURING THE ECONOMY OF THE REGION WITH PARTICIPATION OF THE PUBLIC-PRIVATE PARTNERSHIP. .. 369 Barkhudarov Mansur Isa, Kalugin VA, Bondareva Ya Yu. Lavinenko E. A, Mammadov Elshad Yagub A SURVEY STUDY ABOUT PROFESSIONAL FORENSIC ACCOUNTING AND ITS FEASIBILITY IN AZERBAIJAN... 376 Elsevar Ibadov, Sanan Huseynzade CREATION OF ORDINARY MARKET INSTITUTIONS AND POTENTIAL OF AZERBAIJAN ECONOMY FOR SUSTAINABLE DEVELOPMENT.... 385 Faig HuseynovTHE ASPECTS OF ECONOMIC SECURITY: BUDGET, TAX AND MONETARY 391 Farida Shamil Amirova THE EVALUATION OF SMALL AND MEDIUM ENTERPRISES ROLE IN ECONOMIC DEVELOPMENT OF AZERBAIJAN ... 397 Fariz Ahmadoy, Jabrrayil Valiyev DUTCH DISEASE: HOW TO MITIGATE ITS EFFECTS Aliagha Gasimov, Selman Najafov THE IDENTIFICATION OF POLES OF COMPETITIVENESS OF THE ECONOMY THROUGH INTER-REGIONAL COOPERATION 413 Gulanbar Azizova, Anna Kulik, Anna Kogteva, Aleksandr Stryabkov, Gulnara Mikayilzade THE ROLE OF A FINANCIAL ACCOUNTING IN ENSURING ECONOMIC SECURITY OF AN ENTERPRISE .. 420 Hafis Hajiyev THE IMPACT OF GOVERNMENT EDUCATION EXPENDITURES ON ECONOMIC GROWTH: EVIDINCE FROM AZERBAIJAN .... 426 Shahnyar Mukhtarov, Ilkin Mammadov, Hamid Hamidov STRUCTURAL ANALYSIS OF NON-OIL SECTOR FIELDS IN THE REGIONS OF THE REPUBLIC OF AZERBAIJAN 435 Uhama Mahamadnabi Mahmudova INNOVATIVE PROCESSES AS A FACTOR OF ECONOMIC DEVELOPMENT...444 Sarvinaz M. Khanlarzadeh NEW HUMAN-MACHINE RELATIONS REQUEST A NEW PARADIGM: UNDERSTANDING ARTIFICIAL INTELLIGENCE... 451 Jolan Velencei AUDIT AS A KEY TOOL FOR BUSINESS KNOWLEDGE MANAGEMENT SYSTEM RESEARC! 459 Kashirskaya Lyut asova Sevinj FEATURES OF ATTRACTING FOREIGN DIRECT INVESTMENT TO THE INDUSTRY OF AZERBAIJAN . 469 Lala Hamidova ORGANIZATION OF THE EFFECTIVE MECHANISM OF INDIVIDUAL INCOME TAXATION ... 479 Leyla Mehdiyeva SOME ASPECTS OF OUTSOURCING AS A FACTOR OF EFFECTIVE DEVELOPMENT OF THE ORGANIZATION... 484 Leyla Mamedova EVALUATION OF TANAP AND TAP PROJECTS EFFICIENCY Zeynal Agazadeh, Kamran JannatliCRISES IN THE GLOBAL FINANCIAL SYSTEM: ANTI-CRISIS POLICY - THE STAGES OF REGULATION..... 499 ‘Mirelem Hesenli THE DEVELOPMENT OF MANAGEMENT INNOVATION THROUGH THE USE OF LEAN-TECHNOLOGY .. 505 ‘Mustafayeva Zohra Ismayil, Gurbanov Natiq Huseyn, Elena Druzhnikova, Yana Mochalova, Irina Chistnikova BANKING REGULATION AND THE FISCAL POLICY IN THE ECONOMIC DEVELOPMENT: WORLD AND NATIONAL EXPERIENCE .. 512 Ashurbayli-Huseynova Nigar Pirverdi, Qubadova Aybeniz Anver, Qushkhani Rauf Nasir, Mammadova Gulsum Mirdamat THE STATE OF APPLICATION OF ELECTRONIC SYSTEMS IN HIGHER EDUCATION IN AZERBAIJAN... 528 Zobra Hasanova, Arzu Huseynova, Ophelya Mazanova CONCEPTUAL BASIS OF ENTREPRENEURSHIP DEVELOPMENT IN NON-OIL 532 SECTOR Gabil Manafov UNEMPLOYMENT AND SOME ISSUES OF USE OF HUMAN CAPITAL. Rashad Muradov THE EFFECTIVE MANAGEMENT WAYS OF ECONOMIC STABILITY OF ENTERPRISES... 547 Nazaraliyev Sadiq Binyamin Oglu ECONOMIC VALUE OF CO-PAYMENTS IN HEALTHCARE...... Sevda K. Mamedova OPTIMIZATION OF QUALITY MANAGEMENT OF CARGO TRANSPORTATION 559 Sevine M. Abdullayeva PLANNING AND FORECASTING OF QUALITY MANAGEMENT... Seydaliyev ham Mohammed MANAGEABILITY OF FINANCIAL RISKS AS AN IMPORTANT FACTOR OF FINANCIAL STABILITY .. 571 Shafa Guliyeva FOREIGN DIRECT INVESTMENTS IN OIL SECTOR AND SUSTAINABLE DEVELOPMENT IN AZERBAIJAN 576 Shahin Bayramov, Mayis GulaliyevEVALUATING DEMOGRAPHIC CAPACITY OF TERRITORIES IN REGIONAL SUSTAINABLE DEVELOPMENT PLANS ... 583 Zamin R. Husseynov, Abdulla K. Abdullayev, Basti M. Aliyeva, Nahid Huseynli ESTIMATION OF THE EDUCATION INFLUENCE ON THE POPULATION INCOME... ... 592, Adalat Muradov, Yadulla Hasanli, Fargana Musayeva ADVANCING TOWARDS SUSTAINABLE ECONOMIES: EXAMINING RESIDENT ATTITUDES & PERCEPTIONS TOWARDS SUSTAINABLE TOURISM DEVELOPMENT IN QATAR... Ali Abdallah, Raheeq Al-Bakry REGIONAL DEVELOPMENT IN PROVISION OF ECONOMIC GROWTH............ 612 Alina M. Aliyeva PREPARATION AND IMPLEMENTATION OF AGRICULTURAL DEVELOPMENT MASTER PLAN FOR ADMINISTRATIVE RAYON BASED ON SUSTAINABLE AND INCLUSIVE DEVELOPMENT PRINCIPLES...... 622, Zamin R. Husseynov, Abdulla K. Abdullayev, Basti M. Aliyeva, Nahid Huseynli STRATEGIZING OF THE SPATIAL DEVELOPMENT OF THE REGION BASED ON THE CONCEPT OF "SMART SPECIALIZATION" 625 Anar Rzayey, Julia Lyshchikova, Tatyana Dobrodomova, Nadezhda Borzenkova CHALLENGES AND OPPORTUNITIES RELATED TO THE EMPLOYMENT OF UKRAINE WORKERS ON THE POLISH LABOR MARKET .. 632 Halina Jasniewska, Anna Tomaszuk TANAP AND TAP AS PART OF AZERBAIJAN’S ENERGY STRATEGY .... Araz Aslanli, Abillhan Isayev SOCIO-ECONOMIC PROBLEMS OF THE NON-OIL SECTOR IN MODERN CONDITION ... ... 650 AnES. Shakaraliyev, Zibeyda A Shakaraliyeva VALUE CHAIN FOR THE DEVELOPMENT OF THE EVORA REGION. THE CASE OF THE CHICKPEA PRODUCT. Erika Guadalupe Espinoza-Duran INTEGRATION POTENTIAL IMPLEMENTATION MODELS Nigar Ashurbeyli-Huseynova, Ludmila Filippova ASSESSMENT OF THE IMPACT OF TOURISM SECTOR ON THE ECONOMY OF AZERBAIJAN, KAZAKHSTAN AND IRAN USING INPUT-OUTPUT MODELS...671 ‘Yadulla Hasanli, Sailau Baizakov, Sudabe Saihova PROBLEMS IN THE ENSURING MACRO-ECONOMIC STABILITY, FISCAL POLICY, PROVISION AND IMPROVEMENT OF ITS ACCOUNTING AND ANALYTICAL CHALLENGES IN THE REPUBLIC OF AZERBAIJAN 681 Qubadova Aybeniz AnverSTATISTICAL STUDY OF INTERNATIONAL MIGRATION OF POPULATION AND LABOR RESOURCES .. 687 Aynur Jabbarova, Vafa Dunyamaliyeva TRANSFORMATION OF FUNCTIONS OF THE STRATEGIC RESERVES OF RAW MATERIALS IN THE CONDITIONS OF ECONOMIC INSTABILITY . 696 Azer Babayev, Yelena Linkevich TOURISM MARKETING OF THE CULTURAL HERITAGE IN THE CHOSEN SLOVAKIAN AREA 703 Daniel Hala, Blanka Giertliova, Zuzana Dobsinska EFFECTIVE HEDGING OF BUSINESS RISKS VIA PROTECTIVE INSTRUMENTS IN PUBLIC WORKS CONTRACTS 709 Barbara Andrlova, Jana Korytarova CLUSTER APPROACH TO SUSTAINABLE DEVELOPMENT OF THE NATIONAL ECONOMY. 719 Huseynova Shahla Akif Marina Vladyka, Ekaterina Rashina, Svetlana Yakimchuk, Huseynova Vafa Anf CONSUMER PROTECTION IN TRANSNATIONAL RELATIONS: CONTRIBUTION OF THE EU... Maria Joao Mimoso, Maria do Rosario Anjos THE 27 WORLD TRADE ORGANIZATION LAW OR HUMAN RIGHTS - OBLIGATIONS OR RIGHTS .. 73S Samira Eyvazova, Dilbar Mammadova THE DETERMINANTS OF MENTAL HEALTH IN ENFORCED WORK REQUIREMENTS..... TAL Dinka Caha GOODWILL, THE PROBLEMATICS OF DETERMINATION OF ITS VALUE 748 WITHIN THE MARKETING STRATEGY Radel Dohnal, Helena Hanusova, Zuzana Lipovska ORGANIZATIONAL IDENTITY OF UNIVERSITY IN MERGER PROCESS Lukasz Sulkowski, Andrzej Wozniak, Robert Seliga EMPIRICAL ANALYSIS OF THE IMPACT OF 2008-2009 ECONOMIC CRISIS ON IMMIGRATION TENDENCIES: CASE OF OECD COUNTRIES .. 163 Abliman Abbasov ESTIMATION OF THE INFLUENCE OF TRANSPORTATIONS IN TRANSPORT SECTOR TO ECOLOGICAL POLLUTIONS IN AZERBAIJAN ... 772 Sayyad Isak AgayevEVALUATION OF TANAP AND TAP PROJECTS EFFICIENCY: “DIVERSIFICATION OF THE GAS SUPPLY FOR THE EUROPEAN UNION’S ENERGY SECURITY - CASPIAN AND CENTRAL ASIAN GAS” 779 Muslum Ibrahimov, Agshin Aliyev, Talish Babayev DIGITALIZATION CHALLENGES TO GLOBAL BANKING INDUSTRY... Fahri Murshudli, Boris Loguinov FOREIGN BANKS IN TRANSITION ECONOMIES: TRENDS AND IMPACT ON SYSTEMIC STABILITY ... 795 Fahri Murshudli, Roman Komyliuk, Ekin Dilbazi Is ALL THAT GLITTERS, GOLD? A BEHAVIORAL ASPECT OF CRYPTOCURRENCY MARKET.. 807 Falak Khan FACTORS AFFECTING AUDIT QUALITY IN CORPORATE SECTOR... 812 Vagif Guliyev, Nazim Hajiyev, Fariz Guliyev SOCIAL BALANCE AS ONE OF THE KEY CHALLENGES ON THE WAY TO SUSTAINABLE DEVELOPMENT . 821 Gunay Piriyeva UNDERSTANDING ASPIRATIONS: R&D PROJECT EVALUATION BY KNOWLEDGE BASED SYSTEMS.. 828 Gabriella Toth-Haasz, Zoltan Baracskai, Tibor Dory ANALYSIS OF LOGISTICS SECTOR IN THE EUROPEAN UNION... Evgeni Genchev ASSESSMENT OF DISTRIBUTION OF EXAMINATION POINTS AND PASSING SCORES OF EXAMS OBTAINED IN THE ADMISSION TO HIGHER EDUCATION INSTITUTIONS IN AZERBAIJAN.. 844 Sakit Yaqubov, Yadulla Hasanli, Sardar Shabanov, Gunay Rahimli THE SLOVAK PUBLIC VERSUS ADVERTISING: A CASE STUDY... Daniel Halaj, Zuzana Dobsinsks, Blanka Giertliova PROBLEMS OF OPPORTUNISM OF FINANCIAL INTERMEDIARIES IN THE COUNTRIES WITH “TRANSITIVE” ECONOMY... 860 Azer Babayev, Bogdan Stetsenko GREEN INVESTING FOR SDG! COUNTRIES Zobrab Ibragimov, Serhiy Lyeonov, Tetyana Pimonenko EU EXPERIENCE FOR DEVELOPING ‘867 THE NATIONAL ECONOMY COMPETITIVENESS: EFFECT OF MACROECONOMIC STABILITY, RENEWABLE ENERGY ON ECONOMIC GROWTH.. 877 Zohrab Ibragimov, Tetyana Vasylieva, Oleksii LyulyovSOCIO-ECONOMIC PROBLEMS OF SUSTAINABLE DEVELOPMENT... ‘Tagiyeva laha Farkhad THE DEVELOPMENT OF INTERACTION FORMS AND METHODS FOR INNOVATION ACTIVITY SUBJECTS IN REGIONAL INNOVATION SYSTEMS 894 Naila Aliyeva Rauf NATIONAL WEALTH IS THE BASIS OF SUSTAINABLE DEVELOPMENT ........ 909 Elshad Samedzade Ziyad AGRICULTURAL SUBSIDIES IN MEXICO AS PART OF THE HACENDARY POLICY FOR THE REGIONAL DEVELOPMENT .. 913 Patricia Inzunza-Mejia SINALOA: THE FUTURE OF AGRICULTURAL SMES BEFORE THE NEW AGRICULTURAL POLICY .... 930 Jaime Jimenez - Santos INTERNATIONAL STANDARDS OF FINANCIAL SUPPORT STABILITY OF THE BANKING SYSTEM 938 Atik Kenmov, Victoria Kovalenko PROVIDING SAFETY AND HIGH QUALITY OF PRODUCTS IN ENTERPRISES AND ORGANIZATIONS BASED ON THE REQUIREMENTS OF INTERNATIONAL STANDARDS ...... 948 Kheyni Umudova WHAT EMPLOYABILITY QUALITIES DO COMMERCIAL BANK MANAGERS EXPECT FROM GRADUATES IN AZERBAIJAN?. 956 Khumar Huseynova DEVELOPMENT OF THE SOUTH BOHEMIAN REGION AS VIEWED BY ITS INHABITANTS... 970 Alena Kajanova INTEGRATION OF ISO 9001 AND SIX SIGMA IN TERMS OF CONTINUOUSLY IMPROVING QUALITY MANAGEMENT. 977 Konul Azizova, Muhammedali Nuriyev SPECIES COMPOSITION AND QUANTITATIVE DISTRIBUTION OF LARVAE OF DRAGONFLIES (ODONATA) IN THE NEW ECOLOGICAL CONDITIONS OF THE LAKE MEHMAN..... 984 Sanubar Guliyeva A AZERBAIJAN FROM INCLUSIVE AND INNOVATIVE GOVERNANCE TO GREEN ECONOMY... 988 Elshan Ahmadov, Tural Khalilov IMPROVING THE COMPETITIVENESS OF NATIONAL ECONOMY AND STRENGTHENING STATE AID TO ENTREPRENEURSHIP... .-- 1002 Leyla Z. AliyevaSUSTAINABLE DEVELOPMENT AS NATIONAL DOCTRINE: EXPERIENCE OF VIETNAM. 1011 Liudmila A Guzikova, Lo Thi Hong Van BENEFITS AND FAILURES OF ELECTRONIC SYSTEMS OF PAYMENT .. Sinisa Franjic TERMS OF POST-SECONDARY EDUCATION MANAGEMENT ..... Mammadov Mammad THE ANALYSES OF EMPLOYMENT AND SALARY IN AGRARIAN FIELD..... 1036 Mirzabayeva Mehriban Samaddin MENTAL ACCOUNTING: THE IMPACT OF HUMAN PSYCHOLOGY ON FINANCIAL DECISIONS. 1043 Nasimi Nuriyev, Aqil Azizov ADVERTISING MANAGEMENT IN BUSINES STRATEGY SELECTION .. Nigar Guseynova L, MODELLING THE IMPACT OF EXCHANGE RATE VOLATILITY ON AGRICULTURE SPHERE: IN CASE OF AZERBAIJAN... .-- 1062 Tehmasib Huseynov, Ali Rustamov, Zamin Babashov THE ROLE OF THE ENERGY CHARTER TREATY IN FOSTERING AND PROMOTING ENERGY EFFICIENCY AND SUSTAINABLE DEVELOPMENT. 1072 Naimeh Masumy THE MAIN DIRECTIONS OF MONETARY SUPPORT OF MACROECONOMIC 1080 STABILITY IN MODERN CONDITIONS. Nigar Ashurbayli-Huseynova THE ROLE OF ICT IN TOURISM GLOBALISATION... Nigar Abdullayeva THE IMPACT OF THE FLUCTUATION OF GLOBAL OIL PROCES ON AZERBAIJAN’S BUSINESS DEVELOPMENT... 1091 Nijat Mursalli THE PLACE AND IMPORTANCE OF DOMESTIC TOURISTS’ PERCEPTUAL MAPS IN TOURISM MARKETING Ontay Quliyev, Ayshan Ayyubzada 1097 REFRAMING PRACTITIONER DEVELOPMENT: A TRANSDISCIPLINARY APPROACH ON COMPUTER SUPPORTED COLLABORATIVE LEARNING IN ORGANIZATIONAL LEARNING AND DEVELOPMENT... 1106 Orsolya R. Szabo, Andras Nemeslaki TRANSFORMATION OF NATIONAL ECONOMIES IN BOUNDLESS WORLD. 1116 Lovorka Gotal Dmitrovic, Mario Lesina Marko StojicUNDERSTANDING THE HUMAN CAPITAL DEVELOPMENT: DIVERSIFICATION OF MULTINATIONAL ENTERPRISES .... 1127 Piroska Hoffmann, Zoltan Baracskai THE IMPLEMENTATION OF PARTIAL LEAST SQUARE MODELLING (PLS) FOR MARKETING RESEARCH IN ARAB COUNTRIES: INTRODUCTION TO BEGINNER USERS - EVIDENCE FROM ISLAMIC BANKS OF PALESTINE ..... 1134 Feras M. I. Alnaser, Mazuni Abd Ghani, Samar Rabi PREDICTIVE MODELS AND SCENARIOS OF ECONOMIC DEVELOPMENT OF THE REGION..... eo 1142, Gushhani Rauf Nasir, Titova Irina Nikolaevna, Glotova Anastasia Sergeevna, Aleksandr Troshin SUSTAINABLE DEVELOPMENT ASPECTS OF INFORMATION SOCIETY. Rasul Balayev, Masume Aliyeva, Sevda Badalova, Sevda Hajizada Sadat Abdullayeva 149 DESIGNING SURVEY RESEARCH: RECOMMENDATION FOR QUESTIONNAIRE DEVELOPMENT, CALCULATING SAMPLE SIZE AND SELECTING RESEARCH PARADIGMS .. 1157 Samar Rabi, Feras M. 1. Alnaser, Mazuri Abd Ghani THE ASSESMENT OF IMPACT OF COMPETITIVENESS TO ECONOMIC DEVELOPMENT.. 1170 Adalat Jalal Muradov, Yadulla Hamdulla Hasanli, Nazim Ozbey Hajiyev EXAMINING THE ROLE OF CREDIT VOLUME ON ECONOMIC GROWTH: THE CASE OF AZERBAIJAN... 1178 Nurkhodzha Akbulaev, Aysel Huseynova PUBLIC-PRIVATE PARTNERSHIP: OPPORTUNITIES AND PROSPECTS OF BANKING FINANCING.. iss Atik Kerimov, Azer Babayev IMPORTANCE OF ACADEMIC STAFF ATTITUDE TOWARDS THE RANKINGS OF HIGHER EDUCATION INSTITUTIONS 1193 Evija Rusite, Biruta Sloka ECONOMETRIC ASSESSMENT OF THE DEPENDENCE OF REVENUES ON VALUE ADDED TAX ON INCOME TAX AND PROFIT TAX REVENUES IN REPUBLIC OF AZERBAWJAN AND IN RUSSIAN FEDERATION... 1201 Aynur Sabir Suleymanova, Gunay Fazil Rahimli ASSESSMENT OF THE INTEGRATION RELATIONSHIPS BETWEEN SCIENCE AND EDUCATION AT THE DOCTORAL.... 1210 Adalat Jalal Muradov, Yadulla Hamdulla Hasanli, Nazim Ozbey Hajiyev, Sardar Ahmadiyya Shabanov WHAT AGRICULTURAL PRODUCTS CAN INCREASE THE COUNTRY’S EXPORT POTENTIAL... 1219 Sevar MammadovaINTERNATIONAL EXPERIENCE IN ENSURING THE STABILITY OF SMALL AND MEDIUM-SIZED ENTERPRISES AND THEIR ROLE IN THEAZERBAIJANI ECONOMY. 1227 Shahla Alijanova ROLE OF THE SOCIAL PROTECTION SYSTEM OF POPULATION IN ENSURING NATIONAL ECONOMIC INTERESTS... 1238 Shahla M. Rzayeva THE IMPACT OF FDI ON ENVIROMENTAL DEGRADATION IN AZERBAIJAN 1247 Shahniyar Mukhtarov, Shahriyar Aliyev, Jeyhun I. Mikayilov, Altay Ismayilov THE ROLE OF THE CORPORATE SOCIAL RESPONSIBILITY IN SUSTAINABLE DEVELOPMENT OF SMALL AND MEDIUM ENTERPRISES IN AZERBAIJAN 1254 Shahla Gahramanova MONITORING AND EVALUATION SYSTEM OF RESEARCH ACTIVITIES AND SCIENTIFIC POTENTIAL (IN CASE OF AZERBAIJAN). 1261 Shafa Alizada PRIORITY DIRECTIONS OF FINANCING SOCIO-ECONOMIC DEVELOPMENT OF REGIONS IN AZERBAWJAN..... 1270 Nusret Babayev STATISTICAL SIGNIFICANCE OF FACTORS INFLUENCING TERRORISM IN PAKISTAN... 1279 Samra Naseem, Ghulam Murtaza, Manan Aslam DEVELOPMENT OF COMPETENCE MODEL FOR INDUSTRY 40: A THEORETICAL APPROACH ... 1288 Marijana Simic, Zlatko Nedelko FORMATION FEATURES OF THE MIDDLE CLASS: DEVELOPING COUNTRIES AND AZERBALJAN .. 1299 Farhad Mikayilov, Alvan Suleymanova Tarana Salifova, Arzu Suleymanov GROWTH AND INNOVATION ACTIVITY OF AGRICULTURAL AND FOOD PROCESSING FIRMS IN BULGARIA... 1312 Dimitrina Stoyancheva, Darina Stoyanova THE RESEARCH OF INVESTMENT FACTOR IN ECONOMIC GROWTH.........1321 Sugra Ingilab Qizi Humbatova, Natig Qadim-Ogli Hajiyev LONG TERM ECONOMIC SUSTAINABILITY IN THE PERSPECTIVE OF AZERBAIJAN... .. 1329 Tahmasib Alzada, Seymur Aliyev CONTENT COMMUNICATION IN BUILDING BRAND IMAGE VIA SOCIAL MEDIA - CASE STUDY... 1337 Beata TarczydloHOW DOES LABOR MIGRATION AFFECT THE ECONOMIES OF RECIPIENT COUNTRIES?.... 1 1345, Terane Shirvanova THE (FOREST) WASTE AS SOURCE OF NEW COMPANIES AND JOB CREATION 1 1384 Amadeu Duarte Da Silva Borges, Bruna Soares, Carla Mascarenhas, Anderson Galvao THE IMPORTANCE OF RESOURCES IN THE INTERNATIONALIZATION STRATEGIES OF CROATIAN FIRMS... 1363 Ivana Kovac, Roka Mihaljevic TRANSFORMATION OF THE WORLD MONETARY SYSTEM FROM THE GOLD STANDARD TO THE CRYPTOCURRENCY? 1374 Inara Rzayeva DEVELOPMENT AND INTERNATIONALIZATION OF SMES IN POST-SOVIET COUNTRIES: SUGGESTIONS FOR FUTURE PERSPECTIVES 1380 Ganira Ibrahimova USE OF FINANCIAL INSTRUMENTS TO SUPPORT FOREST ECOSYSTEM SERVICES..... 1399 Blanka Giertliova, Daniel Halaj, Zuzana Dobsinska A CONCEPTUAL MODEL FOR SMART CITY EVALUATION: ATTRIBUTES AND RULES 1407 Peter Farago THE NEW METHODS OF HUMAN RESOURCES IN AZERBAIJAN CASE.. Abdulova Aygun Agasadiq, Hamid Hamidov Insaf 1416 MAIN CHALLENGES OF TOURISM DEVELOPMENT MANAGEMENT IN GEORGIA.. 2 1426 Nino Paresashvili, Ketevan Chitaladze IDENTIFYING THE RELATIVE INFLUENCE OF THE PRODUCT-RELATED ATTRIBUTES ON CONSUMER'S CHOICE... 1 1433, Trina Mjeda, Mario Tomisa, Petar Kurecic THE ELEMENTS OF THE MECHANISM OF BUDGETARY REGULATION AND STRATEGY OF BUDGET POLICY MANAGEMENT.. 1439 Tunzale Gurbanova UNIVERSITY BRANDING IN AZERBAIJAN: EMPIRICAL STUDY OF STUDENTS’ CHOICES FOR EDUCATION.. 1444 Turan Suleymanov COMPARATIVE ANALYSIS OF THE CURRENT SITUATION AND DEVELOPMENT PROSPECTS OF THE FORMER SOVIET UNION REPUBLICS IN THE SOCIAL BUSINESS... 1453 Fariz Ahmadov, Aytan Huseynli, Ulkar ZeynalovaBAYESIAN APPROACH TO THE REDUCTION OF INFORMATION ASYMMETRY IN ENTERPRISE. 1462 Tarana Aliyeva, Aida Guliyeva, Ulviyya Rzayeva THE PROGRESS CLAUSE IN FOREIGN INVESTMENT CONTRACTS Maria Do Rosario Anjos, Maria Joao Mimoso 1470 ECONOMETRIC ANALYSIS OF THE IMPACT OF HUMAN CAPITAL COMPONENTS ON UNEMPLOYMENT. 1477 Vusala Teymurova, Leyla Huseynova MARKETING RESEARCH OF GRAIN AND GRAIN PRODUCTS OF AZERBAIJAN 2 1489 Ismail Mahmud Kheyirkhabarov, Alislam Israil Gasimov GREEN PROJECT MANAGEMENT: BALANCING OF SUSTAINABLE DEVELOPMENT PRINCIPLES... 1495, ‘Yulia Fomina, Svetlana Apenko INTEGRATION OF CIS COUNTRIES’ NATIONAL STANDARDIZATION SYSTEM INTO ISO STANDARDS... 1501 Zabit Aslanov, Azer Huseynov FEATURES AND TRENDS IN THE DEVELOPMENT OF THE PRIVATE HEALTH FINANCING.. 1508 Zahid F. Mamedov, Sevda K. Mamedova INNOVATIVE APPROACH TO HUMAN CAPITAL MANAGEMENT UNDER CONDITIONS OF STRONG TURBULENCE OF FOURTH INDUSTRIAL REVOLUTION 1517 Zahid F. Mamedov, Oksana K. Mineva, Edvard I. Glinchevskiy FACTORS AFFECTING DEVELOPMENT OF MUSSEL FARMING IN THE BALTIC SEA REGION..... 1 1525 Zaiga Ozolina, Biruta Sloka KNOWLEDGE-BASED ECONOMIC ACTIVITY AND SOCIO-ECONOMIC DEVELOPMENT.. 1533 Zeynab Habibagha K. Giyasova AN ANALYSIS OF THE SELECTED FACTORS OF THE INFORMATION SOCIETY IN THE UNITED STATES 1542 Anna Janiga-Cmiel COMPETITIVENESS PROBLEMS IN THE FIELD OF CONSTRUCTION MATERIALS INDUSTRY. 1 1548, Zanura Hasrat Aliyeva THE EURASIAN ECONOMIC UNION: AT A CROSSROADS? Zelenkov Yuriy, Spitsina Daria, Ogloblina Elizaveta 11587MODERN MARKET TRENDS . 1565 Zumrud Nadjafova STUDY OF QUALITY INDICATORS OF THE PUMPKIN GROWN ON THE TERRITORY OF AZERBAIJAN... 1569 Farida Quliyeva THE IMPACT OF THE EXTERNAL DEBT TO THE ECONOMIC GROWTH..... 1572 Fikret Huseyn Yusifov, Yadulla Hamdulla Hasanli, Nazim Ozbey Hajiyev, Emin Teymurov, Anar Ibrahimov ANALYSIS OF THE IMPACT OF THE HUMAN CAPITAL ON TOURISM DEVELOPMENT IN AZERBAIJAN 11579 Leyla Hajiyeva, Vusala Teymurova MODERN ECONOMIC THEORY IN THE FRAMEWORK OF THE CHALLENGES OF THE XXI CENTURY... 1589 Babayev Alijan Pirijan BENCHMARKING OF IMPLEMENTATION OF ADVANCED MANAGEMENT TECHNOLOGIES OF RUSSIAN ORGANIZATIONS & DIFFUSION OF THIS EXPERIENCE TO COUNTRIES OF CASPIAN REGION... 1596 Alislam I O. Gasimov, Raisya I. Akmaeva, Oksana K. Mineva, Edvard I. Glinchevskiy PROSPECTS OF ENSURING THE SUSTAINABLE DEVELOPMENT IN AZERBAIJAN... .-- 1603 Umudvar Aliyev, Gunay Guliyeva27th international Scientific Conference on Economic and Sail Development — "socio Economic Problems of sustainable Development" fal, 14.25 February 2019 BENEFITS AND FAILURES OF ELECTRONIC SYSTEMS OF PAYMENT Sinisa Franjic sinisa franjtc@gmail.com ABSTRACT The development of modern information technology has also enabled the development of electronic payment systems. Economic entities have quickly accepted and implemented it in their business because electronic payment systems are not too demanding in the technological sense and allow business transactions to be realized in just a few seconds. Further development of business through the Internet has developed. but is still developing a new discipline within the economy as a science called the digital economy. Likewise, the development of modern information technology is accompanied by negative side effects, criminal offenses in the field ofcomputer crime. Keywords: Information technology, Digital economy, Electronic commerce, Computer criminality 1. INTRODUCTION Electronic payment systems keep the contours of the classical cash transactions, leaving the same idea of using credit card numbers, checks and money, but they are used in a completely different way that is dictated by the specificities of electronic communications (Simovié et al. 1999.), Each system has a somewhat different application and has its own specifics, advantages and disadvantages. Itis therefore necessary to know these systems in order to prevent this form of computer crime more effectively. The discovery of a perpetrated computer offense would be considerably more difficult because it does not leave any material traces, and besides, the perpetration of such a delinquency can be considerably larger than property delicacies committed in classical ways. With the development of modem information technologies, especially computer networks, the great advantage of automating cash transactions has been noted. Instead of traveling to another continent for buying a book, this process can now be done electronically via computer networks, In the same way, you can transact between two remote banks in just a few seconds. But without the protection of money transactions and the use of special communication protocols, theres a great possibility of misuse. It must be borne in mind that perpetrators of all incidents of computer crime are persons who possess much more knowledge and intellectual abilities than perpetrators of other criminal offenses. They can intercept communications of money transactions in terms of the way they go to the data they can handle the most varied manipulations. These can be the numbers of credit cards, bank accounts, large business cash, and all other bank secrets that are currently circulating in computer networks. For these reasons, the need to protect electronic money transactions has arisen with the introduction of special communication techniques and protocols. 2. DIGITAL ECONOMY ‘The Internet today represents a unique model of electronic communications because there is no similar model that could be characterized by such geographic coverage. From a technical point of view, the most important feature of the internet 1s the extremely fast connectivity capability that allows contact with the other side in just a few seconds. For this characteristic, one can freely say that it represents a set of business opportunities that should be adapted by economic operators to be more successful in the market. Contemporary society is an information society. ‘The new techno-economic paradigm of information-communication technologies is based on cheap information input, obtaned through microelectronics and telecommunications 102227th international Scientific Conference on Economic and Sail Development — "socio Economic Problems of sustainable Development" fal, 14.25 February 2019 technology: information becomes raw material (Cosié et al, 2012). While the earlier information (knowledge) has been involved in the development of technology, today and technologies are involved in information - information technology products represent information processing devices, ie information that processes itself In addition to being the most significant resource in the information society, information becomes the most important product Innovations in the field of information-communication technologies were key to the rise of a networked economy. The most important structural effect of the influence of information-communication technologies is network or networked society. Networking at a global level has allowed access to new markets and consumers, and increased profitability of multinational and transnational corporations. The earliest and most direct users of global networks were the ones who underlined the restructuring - financial institutions and corporations in the field of state-of-the-art technology. Information networking technology has experienced a quantum leap through the development of the intemational infrastructure of public computer networks, which has enabled the expansion of the effective range of the market and the emergence of a digital economy. The Digital Networked Economy is a “natural” environment for anew form of money and banking Some companies have leamed much earlier about the possibilities of using the Intemet for the purpose of changing business patterns and exploring the possibilities of buying and selling online (Babié et al, 2011.). Such attempts were, however, limited and of local character, except in the case of genuine innovators and leaders of electronic business, which soon became the most obvious examples of the development of new business models, Web sites become much more intuitive by nature, creating a collaboration and communication platform that largely exceeds the one-way flow of information, At the center of corporate thinking, faster and cheaper communications with end-users are offered, offering special forms for ordering products, initiating business events electronically. The use of the site becomes easier, the methods of navigation and search of data are more advanced, and companies connect with customers, partners and suppliers. Intuitive business applications are expanding rapidly to complement traditional and promote additional electronic business channels. Applying advanced web tools and techniques irreversibly changes the relatively “primutive" electronic commerce web pages, and influences the development of new sales channels and expanding end-user relationships. The term e-commerce becomes a synonym for purchasing and selling processes via the Intemet, which eliminates the time and physical barriers to business that exists in the traditional trading system. 3. DATABASES ‘The database consists of a series of data tailored to the needs ofusers used to obtain information, The databases we know today have had a huge impact on the development of modem IT technology. Modem IT technology has brought anumber of advantages to organizing business, and most important of these are ease of use and low price of equipment, Modernly organized databases can also mean the advantage ahead of competition, witch is the desire of almost every business entity. Database research and management systems are the basis for the study of information systems 4. COMPUTER NETWORKING Networking is a procedure that aims to provide better functionality not only for economic but also for non-business entities. The availability and flexibility of today's modern computer networks technology allows you to connect to any network on the planet from any point on the planet and get the information you want (Milosavljevic et al, 2009.). Compared to the former use ofnetwork services, the prices of exploiting today’s networks are lower. Computer networks are today an irreplaceable part of the business infrastructure, both small and large organizations. Knowing the technology and using the network is not just a matter of general culture 102327th international Scientific Conference on Economic and Sail Development — "socio Economic Problems of sustainable Development" fal, 14.25 February 2019 In many segments of business, the application of computer networks can provide an advantage to organizations in the market (for example, electronic commerce enables small firms to compete on the market). The computer network is basically a set of two or more computers that are connected to a connection medium and can communicate with each other and share resources. It is used for transferring both digital and analog data which must be adapted to appropriate transmission systems. Computer data, speech, pictures, videos can be transferred to the network, and applications on the user's side may be such as to require data transfer in real time (speech, video, etc.) or this does not have to be a condition (electronic mail, file transfer) ‘The network consists of computers, transmission media (wires, fiber optics, ait) and devices such as nodes, hubs, routers, etc. that make up the network infrastructure. Some devices, such as network cards, serve as a connection between computers and the network. 5. ELECTRONIC TRADE A large number of Internet applications in developed electronic commerce terms are related to financial transactions - the payment of own debts and financial liabilities to creditors and the payment of receivables from their debtors (Panian, 2000.). They are very delicate and serious intemet applications and operations where any mistakes are difficult to rectify, so they pay close attention in practice and work intensively on their promotion, primarily in the security sense. The emergence of e-commerce represents a real revolution in business, not just the unprecedented superordinate technological basis based on modem telecommunications, computing, information technologies and cryptology (Milosavijevic et al., 2016.). Before the age of e-commerce marketing and sales of products relied on massive unmerited marketing and workforce and input of immediate sellers. Consumers are perceived as passive targets of advertising campaigns that change the long-term customer relationship towards the given product and currently affect their buying habits. The consumer was captured by geographic and social barriers, limited to narrow local loops in search of the best price-quaity relationship. Information on prices, costs and taxes could be hidden from the buyers, enabling the formation of profitable so-called Asymmetry information in favor of sales organizations. In this way, information asymmetry ‘will imply any dispanty in the relevant market information provided by the participants in a transaction. Looking forward, the potential for electronic commerce to gain a sizeable share of consumer and business purchases appears to be large, although itis difficult to quantify (Yun, 2005.), The developments in communications infrastructure, digital networks, and graphic- based Intemet applications have made and will continue to make transmission of information much faster, cheaper, and simpler. With further technological improvements, communication shall become much more reliable and thus more applicants shall be attracted to this splendid field. This shall inevitably increase productivity and efficiency in a number of industries and businesses. Increased productivity will theoretically yield higher profit margins and a more stable economic system Accordingly, commercial use of the Intemet, more specifically, electronic commerce, should have a magnificent future 6. TYPES OF ELECTRONIC TRADE A lot of scientific papers have been written about the types of electronic commerce and they are not unknown. Therefore, we will not specifically describe them in detail, but we will just list them most often. These are 1. B2C (Business to Consumer) 2. B2B (Business to Business) 3. C2C (Consumer to Consumer) 4. P2P (Peer to Peer) 102427th international Scientific Conference on Economic and Sail Development — "socio Economic Problems of sustainable Development" fal, 14.25 February 2019 M-Shop 6. Social networking 7. Local e-commerce 7. BUSINESS OPERATIONS Foreign trade is @ very important item in the balance of each company. Today, foreign operations can be considered as imperative. International business is exciting because it combines the science and the art of business with many other disciplines, such as economics, anthropology, geography, history, language, jurisprudence, statistics, and demography (Czinkota et al, 2011.). International business is important and necessary because economic isolationism has become impossible. Failure to become a part of the global market assures a nation of declining economic influence and a deteriorating standard of living for its citizens Successful participation in intemational business, however, holds the promise of improved quality of life and a better society, even leading, some believe, to amore peaceful world 8. COCLUDING THE CONTRACT WITH THE FOREIGN PARTNER ‘The foregoing has presented the legal principles relating to offer and acceptance in line with the ‘classical model’ of contract (Kelly et al., 2002.). As has been stated, underlying that model is the operation of the market in which individuals freely negotiate the terms on which they are to be bound. The offeror sets out terms to which he is willing to be bound and, if the offeree accepts those terms, then a contract is formed. If however, the offeree alters the terms, then the patties reverse their roles: the former offeree now becomes the offeror and the former offeror becomes the offeree, able to accept or reject the new terms as he chooses. This process of role reversal continues until an agreement is reached or the parties decide that there are no grounds on which they can form an agreement. Thus, the classical model of contract insists that there must be a correspondence of offer and acceptance, and that any failure to match acceptance to offer will not result in a binding contract. Technical regulations setting standards for product design and performance can vary widely from country to country (Schaffer et al., 2009). This might include safety standards for foods, pharmaceuticals, automobiles, toys, and consumer goods, flammability standards for children’s clothing, fire and electrical codes, health codes, environmental standards, and rules for packaging or labeling products. Obviously, these issues are more important in intemational trade, where the standards are far less uniform, than in domestic commerce 9. DIGITAL SIGNATURE Legislation providing for electronic signatures has, essentially, been directed to provide for the authenticity of the person using the signature, although various statutes provide for additional uses, such as providing for the integrity of a message or document (Mason, 2016.) Authentication can be the process by which a person or legal entity seeks to verify the validity or genuineness of a particular piece of information. Altematively, it can mean the formal assertion of validity, such as the signing of a certificate. we authenticate what it certifies. In certain circumstances, there may also be a need to verify the identity of an individual or legal entity, although what is meant by ‘identity’ will also depend on the reason for ascertaining the identity. With a cheque, the signature serves to link the name of the person printed on the cheque with the person that claims to have the authority to draw money from the account indicated on the cheque. The existence of the cheque guarantee card with a manuscript signature on the reverse serves to reinforce the link between the card and the cheque, although the signature, even if the signature on the reverse of the cheque guarantee card matches the signature on the cheque, does not necessarily identify the person signing, even if the signature on the reverse of the cheque guarantee card matches the signature on the cheque, does not necessarily identify 10227th international Scientific Conference on Economic and Sail Development — "socio Economic Problems of sustainable Development" fal, 14.25 February 2019 the person signing the cheque. In cheque cases, the printed name on a cheque is not necessarily cepted as a form of signature, although it can contribute to authenticity. 10. INFORMATIC TECHNOLOGY AND COMPUTER CRIMINALITY In more modem times, the creation of the World Wide Web has proved to be something of a miracle (Bradley, 2006.). In one decade it has transformed the way people work, study, shop, and play, and within a generation it has changed the way people interact, It has created entire business models, new streams of revenue, and new fields of employment. The Web has made almost every piece of information you could possibly want available at the click of a button. While the printing press made it possible to mass-produce written works so they could be shared with everyone rather than only an elite few, the Web took the notion a quantum leap farther so that almost every thought that has ever been written can be retrieved in the blink of an eye. In short, the World Wide Web has changed the world. It has created new ways to conduct financial transactions, conduct research, hold an auction, and shop for a car. However, with the advent of the Web and its conveniences, a new type of crime has also emerged. cybercrime. Global computer networks have created opportunities for new forms of crime (Porobic et al., 2012.) There is a “special, sophisticated, penetrating, technically controversial, unscrupulous, obsessed, sometimes vindictive individual to whom it is difficult to stand up and even more difficult to stop". He often does not want to be alone, but he needs society as much as he needs "audience." The ease of "doing" with the cyber space gives him a sense of power and clusiveness. These feelings are without reason, because it is really difficult to find it at the moment of the act, which is, in essence, a "real" moment for its identification and capture. On the other hand, the Intemet that is so vulnerable and insecure due to the huge number of users, openness and unregulated is the ideal hiding place for criminals of different types. In such an environment and with such individuals, more and more attempts are being made not only by many national law, intemational organizations and associations, but it also includes "private sector" and users to mitigate the negative consequences and reduce the losses caused by criminal activities. It’s hard to find a facet of modem life that does not involve a computer system, at least on some level (Easttom, 2012). Online purchases, debit cards, and automatic bill pay are standard parts of modem life. Some retailers are using computerized automatic checkout, It is even likely that you have taken a class online, and you may even be using this textbook for a class you are currently taking online. Because so much of our business is transacted online, a great deal of personel information is stored in computers. Medical records, tax records, school records, and more are all stored in computer data-bases. This leads to some very important questions 1, Howis information safeguarded? 2. What are the vulnerabilities to these systems? 3. What steps are taken to ensure that these systems and data are safe? ‘The timely patching of security issues is generally recognized to be critical in maintaining the operational availability, confidentiality, and integrity of the information infrastructure (Wu et al, 2013,). However, failure to keep both the operating system and application software patched is one of the most common issues identified by secunty and IT professionals, New patches are released daily, and it is often difficult for even experienced system administrators to keep abreast of all the new patches and ensure their proper deployment in a timely manner. Major attacks in the past few years have targeted known vulnerabilities for which patches existed before the outbreaks. Indeed, the moment a patch is released, attackers make a concerted effort to quickly reverse engineer, in days or even hours, the patch, identify the vulnerability and develop and release an exploit code. Thus, the time immediately after the release of a patch is ironically a particularly vulnerable moment for most organizations due to the time lag in 102627th international Scientific Conference on Economic and Sail Development — "socio Economic Problems of sustainable Development" fal, 14.25 February 2019 obtaining, testing, and deploying a patch. The most important European legal source for combating computer crime is the Convention on Cybercrime. According to the Convention, and according to Recommendation R (89) of the Council of Europe, the minimum catalog of computer offenses that should contain national legislation includes the following criminal offenses: computer fraud, counterfeiting of computer data, computer data or software damage, computer sabotage, unauthorized access, unauthorized reproduction of protected computer programs, unauthorized reproduction of computer fundamentals (Pavidie et al, 2012). In addition to the above-mentioned forms of criminal offenses deemed to be included in national legislation, a non-mandatory, optional list of voters, including computer data or programs, computer espionage, unauthorized use of the computer and unauthorized use of protected computer programs, is also compiled 11. FINANCIAL TRANSACTIONS AND COMPUTER SECURITY ‘Many transactions are now effected electronically (Bainbridge, 2008 ). For example, by the use of automated teller machines (ATMs or cash point dispensers outside banks) and electronic fund transfers (EFT) transactions are made between financial institutions and at the point of sale. Most organisations now exchange data electronically. For example, alarge manufacturing company may order components automatically and electronically from its suppliers when stock levels reach a predetermined lower limit. Electronic data interchange (EDI) has the potential to maximise efficiency by reducing repetition and delays, increasing accuracy and permitting the maintenance of minimum stock levels by placing orders for ‘just-in-time’ delivery. A large proportion of the information flowing between organisations may be handled electronically, including quoting or submitting tenders for work, ordering, scheduling, invoicing and accounting. Traditionally, security has been defined as a process to prevent unauthorized access, use, alteration, theft, or physical damage to an object through maintaining high confidentiality and integrity of information about the object and making information about the object available whenever needed (Kizza, 2009.) However, there is a common fallacy, taken for granted by many, that a perfect state of security can be achieved, they are wrong, There is nothing like a secure state of any object, tangible or not, because no such object can ever bein aperfectly secure state and still be useful. An object is secure if the process can maintain its highest intrinsic value. Since the intrinsic value of an object depends on a number of factors, both intemal and external to the object during a given time frame, an object is secure if the object assumes its maximum intrinsic value under all possible conditions. The process of security, therefore, strives to maintain the maximum intrinsic value of the object at all times. While the benefits of the Internet and other forms of computer networks are streamlining financial institutions, the same institutions are often among the first institutions to be affected by Cybercrime and Cybersecurity issues due to the financial incentives as well as their strategic place in each nation’s infrastructure and economy (Reich, 2008.), We must look not only at the efficiency, but also at the negative aspects of the use of technology by financial institutions. Consumers as well as businesses must be well informed about conducting transactions in the safest manner possible. The nature of the Internet is cross- border, and thus Cybercrime and Internet Security issues involving financial institutions should be made known by intemational organizations, regional organizations, and when there have been cross-border law enforcement collaborations in investigations, extraditions, and so forth. At present, due to the fact that law is generally written at the national (or even state level, asis the case of Identity Theft law in the U.S.) there is aneed for reporting of cross-border cases in the literature if such data can be obtained from law enforcement officials by scholars 102727th international Scientific Conference on Economic and Sail Development — "socio Economic Problems of sustainable Developme ‘Bale, 14.5 February 2039 12. CONCLUSION ‘The development of modem information technology has brought a number of advantages to economic entities, and they quickly adapted to emerging market conditions. Online business enabled faster and cheaper communication between parties, which are very important items in the business of every business entity. The new way of doing business is all satisfied, so new science disciplines emerged in the field of economics - the digital economy. On the other hand, the development of modem information technology has brought a series of socially unacceptable behaviors that need to be adequately sanctioned. The consequences of damage caused by computer crime can be so great that they can destroy the business of an economic entity. In order to prevent potential computer offenses, computers and computer systems need to be well-known. In addition, it is necessary to invest constantly in the security of computers and computer systems, as business transactions can only be safely done without the adverse impact of all possible forms of computer criminality. LITERATURE: 1. Babié, R, Krajnovié, A, Radman Peia, A. 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