Abstract: The object of the research is industry-specific multiples implemented as part of the comparative approach to business evaluation. The subject of the present research is the efficiency of applying industry-specific multiples compared to universal multiples as part of the cmparative approach to business evaluation. In this research Skavysh analyzes theoretical grounds and algorithm for conducting business evaluation based on the capital market method and considers peculiarities of applying universal and industry-specific multiples. The author also describes particular conditions and situations when application of industry-specific multiples can actually raise the accuracy of business evaluation. The author of the article conducts a qualitative comaprative analysis of the efficiency of applying industry-specific multiples involving Russian companies conducting their business in different branches of economy. Based on the results of the research, the author concludes that despite the fact that in the majority of cases industry-specific multiples turn out to be more efficient than universal multiples and demonstrate a less deviation from actual market costs, it is recommended to use universal multiples in the process of business evaluation as additional sources of information about the enterprise value. 

Keywords: trading multiples technique, peers, common valuation multiples, industry-specific multiples, enterprise value, relative valuation, business valuation, equity value, market value, comparative analysis

Abstract: The subject of the present article is the combination of phenomena and processes describing the industrial safety of agricultural entities. The object of the research is the company that performs industrial activities. The authors offer their own definition of industrial safety as well as the method for assessing industrial safety as a procedure consisting of three stages. At each stage a certain element of a company's industrial safety is evaluated. The authors take into account minimum levels of indicators characterising technical, technological and staff safety. In this research the authors have also taken into account the main factors that influence the industrial process and the level of its safety for workers and company in general. The authors have used the elimination method that allows to take into account the influence of the industrial potential of an agricultural company and its influence on the economic safety thereof. The scientific novelty of the research is caused by the fact that the authors have developed their own method for assessing industrial safety as well as defined their critical level. As a result, the authors have defined the threshold value of the industrial safety level. This method allows to manage each component of industrial safety which, in its turn, allows to preserve and strengthen econmic safety of an agricultural entity in general. 

Keywords: food supply security, economical safety, manufacturing technology, loss of time, coefficient of validity, technical safety, production safety, subsystem, machines and equipments, employment relations

Abstract: The subject of the research is a set of measures and mechanisms that influence the efficiency of cluster projects. The object of the research is the interregional and interindustry entities in the Russian Federation and Belarus Republic as a single Union State. The authors of the article have analyzed the main indicators of their international cooperation as well as programs being implemented. They have covered not only prevailing programs proved and financed by the Union State but also initiation projects that arise as a result of cooperation between enterprises of different ownership forms in the territories of Russia and Belarus. The authors describe not only projects related to cooperation of neighboring territories but also remote districts. The research methodology involves the theory of cluster management, in particular, the part of the theory devoted to projecting distance entities, institutional monitoring of the general development of business infrastructure and comparative method to analyze participation of the state in the functioning of modern clusters. In their research the authors have demonstrated that innovative ability and technological availability are an essential element of the national economy's competitive ability taking into account the conditions of institutional changes. In the future the role of innovations in the process of developing the country's competitive ability will only continue to grow providing that the structure of the global industry will change towards high technology sectors. The drastic growth of nanotechnology and gene engineering will create new types of industry. However, a great number of problems related to the institutional basis of forming and developing competitive ability of innovation sectors of the Union State is still unsolved or understudied and thus require better research. For example, such spacial-time structures as innovation hubs still remain an understudied topic in the academic literature. The scientific novelty of the research is caused by the authors statement that it is impossible to develop and implement innovation clusters only through developing and politically implementing the Union State's development proejcts. Thus, the authors offer their own directions of implementing the provisions of the medium- and long-term cluster development and introduce the term 'innovation hub' as an aggregator of innovation projects. 

Keywords: cooperation, sector, efficiency, analysis, innovations, Union State, project, cluster, structure, balance

Abstract: The subject of the research is a combination of Russian laws regulating social relations arising in the process of commercial confidentiality protection. The author of the article examines such aspects of the topics as the need to legally fix purposes of limiting access to information that can be considered confidential as well as improving the system of indicating features and subjects and detailed regulation of measures aimed at keeping confidential information. Special attention is paid to the issues related to protecting innovation activity under conditions when not all economically valuable innovation can be patented. The methodological basis of the research is the formal logical, historical law and comparative law methods as well as other research methods that complete them. Based on the research, the author makes a conclusion that the purposes of the confidential regime are not defined by the efficient legislation, neither they are defined at the state level. The holder of commercial information and employee who makes a valuable contribution to the development of innnovation activity are not defined either. The author states that besides criteria of commercial confidential information, foreign legislations also provide additional requirements for information and contents of commercial confidentiality. The author focuses on the framework nature of the national legislation on commercial confidentiality and emphasizes the need to better develop measures aimed at preventing the disclosure of commercially important information. 

Keywords: trade secret, confidential, secret, information of limited access, legislation, legal information regime, information law, production secret, know-how, comparative analysis

Abstract: This paper discusses the basic stages of formation and characteristics of national labor UK legislation affecting the regulation of online employment and the impact on it of norms of the "European Framework Agreement on Telework» ( "European Framework agreement on telework") - the document by the European Council adopted in 2002 as a result of a dialogue with the main European social partners.Each European country has chosen its way of implementation of the European framework agreement according to their labor laws. In this work the author considers a unique way of the UK. The research methods include the analysis of the legal framework of Great Britain and the European Union, Russian and foreign scientific literature as well as sociological and statistical studies. As part of this work the author has defined the basic stages of formation of the Internet standards of employment regulation (Telework) in the UK and has marked national characteristics of the process. The author of the article has also highlighted the role of national and supranational laws in the formation of labor legislation in the field of Internet regulation of employment.

Keywords: labor law in UK, atypical forms of work, atypical employment, remote employment, telework, E-work, post-industrial society, information society, labor market, distance employment

Abstract: Recent economic transformations in Russia as well as modern processes ongoing in Russia's economy have had a drastic influence on the development of efficient tax legislation. That has created the need to study issues of tax planning from the point of view of the implementation of the national project provisions adopted by tax legislation. Tax payments constitute a significant part of entrepreneurial expenses, therefore one's ability to duly assess and plan tax liabilities and fully use tax preferences and priviledges is one of the most important and necessary skills. Thus, the purpose of the present research is to create the best business model that would ensure a minimum volume of company's tax burden. The subject of the research is the economic relations arising as a result of a leasing agreement as an instrument of tax planning in the process of company tax optimizatino. The methodological basis of the research involves fundamental concepts represented in Russian and foreign researches, legislative and regulatory acts of state authorities, federal laws, Presidential Decrees and RF Government Regulations, and materials of scientific and practical conferences on the matter of tax planning. In their research the authors have used abstract logical, monographic, statistical economical, economical mathematical and other methods of economic research. The scientific novelty of the research is caused by the fact that the authors prove the importance of a leasing agreement as an optimization method within tax planning of company tax. Noteworthy that for the purpose of company tax optimization, leased property should be recorded as an asset of a lessor. Thus, company tax can be economized when leasing is carried out as expenses reducing the tax base and the general volume of lease payments. 

Keywords: taxation, tax burden, tax on profits, tax minimization, leasing, tax liabilities, tax optimization, tax planning, VAT, optimization methods