The conference is organized in collaboration with Polish Economic Society Branch in Toruń and Brno University of Technology (Czech Republic), BA School of Business and Finance (Latvia), Daugavpils University (Lithuania), Pereyaslav-Khmelnitsky Hryhoriy Skovoroda State Pedagogical University (Ukraine), University of Angers (France), University of Pablo de Olavide (Spain), University of Latvia (Latvia). The conference is addressed to economist from all European Union countries and Eastern Europe. It aims to bring together economists form Western, Central and Eastern Europe to discuss issues in economics, finance and business management. Main conference tracks include: 1. Macroeconomics; Microeconomics; Econometrics; International Economics 2. Financial markets; Labour markets; Institutions; 3. Business environment; Management and Marketing.
Special characteristics of modern employment demonstrate serious changes in the character and the content of the labour process. The phenomenon of “the end of labour in its classical sense”, which triggered heated debates in the end of the XX century, was described in details by British sociologist Z. Bauman in his work «The Individualized Society»:
“That situation has changed now, and the crucial ingredient of the change is the new ‘short term’ mentality which came to replace the ‘long term’ one. Marriages ‘till death us do part’ are now a rarity: the partners no longer expect to stay long in each other’s company. According to the latest calculation, a young American with a moderate level of education expects to change jobs at least eleven times during his or her working life – and that ‘job-changing’ expectation is certain to go on growing before the working life of the present generation is over. ‘Flexibility’ is the slogan of the day, and when applied to the labour market it means an end to the job ‘as we know it’, work on short-term contracts, rolling contracts or no contracts, positions with no inbuilt security but with the ‘until further notice’ clause” [Bauman 2001, p. 24].
Rising on the wave of industrialization, after the transition to the postindustrial, information epoch, labour is losing its past significance. More and more people consider labour as a heavy routine and would like to get rid of it forever. And especially in the circumstances of depressive aggravation of the so called global problems, which have not only been left unsolved since they were identified by the Rome club, but continue to forebode humanity death from ecological catastrophes, depletion of natural resources, incurable diseases, the planet’s overpopulation etc.
There are obvious dramatic changes in the labour and employment sphere. After the transition to the postindustrial economy, classic labour (as a hard, back-breaking work, focused on achieving a material (embodied) result) ceases determining the sense of human existence.
Using data on foreign borrowing, I identify Russian banks that were affected by the sudden stop of external financing caused by the Lehman Brothers’ collapse. Applying the difference-in-difference method, I compare these «affected» banks to «unaffected» ones and find that the Russian Central Bank’s (CBR) anti-crisis financial assistance primarily went to the former group. Tracing the impact of the CBR’s liquidity infusions on banks’ portfolio allocation decisions, I find that banks used CBR funds not only to pay out foreign debt, but also to accumulate cash deposits in non-resident banks. I also find that affected banks increased their holdings of market securities significantly more than unaffected ones, which suggests that the CBR’s bailout policies impacted their risk-taking strategies. While there was no significant difference in corporate lending growth between the two groups after the sudden stop, lending to borrowers with weaker banking relationships (individuals and entrepreneurs) decreased more among affected banks.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.