Direct investment outflow from transition economies abroad is still modest compared to investment inflow towards transition economies. Global economy both creates preconditions for and also motivates the internatio¨nalization of banks. The main aim of the article is to study activities of...

As part of the classical university, the Faculty of Economics and Business Administration of the University of Tartu in Estonia has excellent opportunities for offering academic economic education. Despite the long-standing tradition of teaching economics, it has been necessary in the past 15...

The huge price differences between the former Soviet Union (FSU) and remaining world emerged at the beginning of 1990s. This phenomenon of hundredfold relative purchasing power of foreign currencies in the republics of FSU is not systematically explained by the traditional system of the...

From the perspective of economic efficiency there are obvious advantages of regional differentiation of regulatory measures instead of relying on nationally uniform regulation, which is due to the fact that adverse health impacts, as well as other negative externalities, such as environmental...

One of the most popular topic in the organisation and management during the last 15 years has been the subject of business processes. The present paper presents fundamentals of the theory of procedural analysis. Procedural analysis is an organisation improvement method elaborated at Tallinn...

Transition is not just transition of formal institutions, convergence of price levels and living standards. The closure or the gap in formal institutions is probably less time demanding than the closure of ideological or mental gap, created in many fields in academy or social life. Social...

The main aim of the article is to emphasise the need for governmental support in the process of building knowledge-based economy. The authors focus on the knowledge creating process in the form on R&D activities and also on entrepreneurial process, mostly in participation with universities. That...

The aim of this paper is to introduce the evaluation of the Czech banking sector and banking stability based on discriminant analysis and cluster. The model is devised on the basis of financial indicators analysis of selected banking institutions based on the Czech Republic in the period from...

This article reviews practical and theoretical aspects of ownership research and corporate governance in a historical view. Whom and what is a business for? The answer once seemed clear, but no longer. Jyrki Veranen (1996) argues that the governing of the company should be based on a model that...

This article provides results of an analysis of energy expenses in households with different income and expenditure levels. The authors have used the Statistical Office of Estonia Household Income and Expenditure Survey data for the period 2000-2005. The analysis was conducted across household...