Bulletin of Taras Shevchenko National University of Kyiv. Economics.

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Authors: V. Laval, economist West University of Timisoara, Timisoara, Romania

The urge to increase the performance of company processes is ongoing. Surveys indicate however, that many companies do not measure the controlling performance with a defined set of key performance indicators. This paper will analyze three categories of controlling key performance indicators based on their degree of measurability and their impact on the financial performance of a company. Potential measures to optimize the performance of the controlling department will be outlined and put in a logical order. The aligning of the controlling activity with the respective management expectation will be discussed as a key success factor of this improvement project.

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Authors: V. Rudyk, Doctor of Science (Economics), Associate Professor, O. Chaikovska, PhD in Philological Sciences State Agrarian-Engineering University in Podilya, Kamianets-Podilskyi, Ukraine

The article attempts to provide an overview of world experience in functioning and development of retirement insurance system based on insurance principles. The world experience in the sphere of retirement insurance and realization of pension reforms in countries with different economic development will help to apply certain elements to Ukrainian pension program. The importance of functioning of multilevel pension models is considered in the study. The analysis has shown that pension models based on redistributive and accumulative pension programs give an opportunity to receive differential pensions to citizens of retirement age.

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Authors: К. Tretiak, PhD in Economics, Assistant Kyiv National Economics University named after Vadym Hetman, Kyiv, Ukraine

At the reinsurance market the object of purchase and sale is a specific product – a reinsurance service. According to several scientists' researches, the definition of a reinsurance service is clarified as a specific service in the form of selling legally formed liabilities concerning redistribution of already insured risk between insurance companies, which has its price, which is influenced by supply and demand. The author has proposed new approaches to the insurance service interpretation as a dominant, which causes the reinsurance market formation. It is shown that being traded in the reinsurance market, a reinsurance service is an important factor in the functioning and self-development of the market environment, it combines the interests of supply and demand holders and directly influences the market quality characteristics, causing trends of its further development. Supply and demand for a reinsurance service are influenced by both external and internal factors, the most important of them are: the capitalization level of insurers, the balance of their insurance portfolios, the condition of the state economy, the level of investment attractiveness, monetary and tax policy. The concepts of "reinsurance service demand" and "reinsurance service supply" have been clarified. Reinsurance service demand is a conscious and financially secured desire to buy reinsurance services. Reinsurance service supply is all services submitted in the reinsurance market.

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Authors: H. Bachev, Doctor of Sciences (Economics), Professor Institute of Agricultural Economics, Sofia, Bulgaria

Evaluating absolute and comparative sustainability of farming enterprises is among the most topical issues for researchers, farmers, investors, administrators, politicians, interests groups and public at large. Nevertheless, in Bulgaria and most East European countries there are no comprehensive assessments on sustainability level of Bulgarian farms of different juridical type. This article applies a holistic framework and assesses absolute and comparative sustainability major farming structures in Bulgaria – unregistered farms of Natural Persons, Sole Traders, Cooperatives, and Companies. First, method of the study is outlined, and overall characteristics of surveyed farming enterprises presented. After that an assessment is made of integral, governance, economic, social, environmental sustainability of farming structures of different juridical type. Next, structure of farming enterprises with different sustainability levels is analyzed. Finally, conclusion from the study and directions for further research and amelioration of sustainability assessments suggested.