Business and Legislation

Flourishing entrepreneurship academic ecosystems: selection of teaching methods in a cultural context

Vladimir Shchegolev — 2025-12-27

This paper examines the role of entrepreneurship education in the development of flourishing academic entrepreneurship ecosystems, with particular attention to the influence of sociocultural and psychological barriers. Building on the entrepreneurial ecosystem approach, the study conceptualizes universities as central actors that connect education, innovation, and regional development through formal and informal institutional mechanisms. The paper integrates insights from entrepreneurship education research, cultural theory, and entrepreneurial psychology to analyze how national cultural dimensions, as operationalized by Hofstede’s framework, shape students’ entrepreneurial intentions and behaviors. Using the case of Georgia as a contextual reference, the study identifies key sociocultural barriers, including high power distance, uncertainty avoidance, and collectivist tendencies, as well as psychological barriers such as fear of failure, low self-efficacy, lack of a culture of doing, and limited action orientation. The paper systematizes contemporary educational methods and corporate entrepreneurship instruments relevant for academic ecosystems and proposes a set of practical recommendations for universities aimed at overcoming these barriers. These recommendations address human, social, and financial capital, as well as the development of entrepreneurial spirit and culture. The findings contribute to the literature on academic entrepreneurship by demonstrating how culturally sensitive, action-oriented, and psychologically informed entrepreneurship education can enhance the effectiveness of university-based entrepreneurial ecosystems and support their integration into regional innovation systems.

Cryptocurrency Trading and Recommendations for Investment Strategy and Practice

Lamara Qoqiauri — 2025-12-27

The work is devoted to an overview of modern investment methods, the cryptocurrency market, ways of their development and strategies in this direction. The article analyzes the investment opportunities of cryptocurrencies; presents conclusions about the main advantages and disadvantages of each investment method, the level of risk, determining factors and investment attractiveness.

The article considers one of the main methods of investing in cryptocurrency - speculation on the rates of various coins. In particular, two strategies for generating income through speculation are considered: the first is Buy&Hold, it is designed for long-term investment, involves buying cryptocurrency on the exchange and storing it in an account for a certain period of time; the second - the Buy&Sell strategy differs from the previous one in that it is designed for short-term investment.

The presented work briefly describes a widely known method of investing in cryptocurrency - mining; in this case, all activities are based on blockchain technology, and the efficiency of the blockchain directly depends on the computing power of the computer. As a result, the profitability of mining is relatively low, special, very expensive equipment is required;

In this paper, we have studied and tried to convey to the reader a widespread method of investing in cryptocurrency — initial coin offering (ICO), which means a form of attracting investment funds for the implementation of a project by issuing cryptocurrency. It is argued that the above tactics are also borrowed from the traditional financial market — initial public offering (IPO).

In conclusion, the article summarizes the pros and cons of cryptocurrency investment methods; several simple recommendations are presented that will help increase your existing capital and diversify your investment portfolio.

Foreign Direct Investment in the Context of Economic Growth under a Global Confrontational Environment and Uncertainty

Givi Bedianashvili — 2025-12-27

The main objective of the study is to reveal the peculiarities of foreign direct investment (FDI) in the context of economic growth in the context of confrontational globalization and increasing uncertainty. Over the past decade, foreign direct investment research has moved from classical models to more comprehensive, interdisciplinary approaches. The main modern paradigms include the study of the strategies of multinational corporations, the role of global value chains, the effects of digitalization, sustainability factors and geopolitical influence. These new approaches complement and in many ways transform the classical theories of FDI - Dunning's OLI paradigm, internalization and product life cycle theory. Modern FDI research emphasizes the role of global networks, innovation, information and politics. The integrated concepts proposed in the study, focused on sustainability, risk, security assurance and geo-economic factors, are more consistent with the growing uncertainty of globalization, its contemporary confrontational nature and essentially explain the investment behavior of foreign investors.

Accounting in a New Dimension Thoughts on Solving Challenges

David Jalagonia — 2025-12-27

The paper reflects the ongoing systemic changes in the field of accounting and the challenges facing the profession. Its goal is to identify the main directions for improving the theoretical, methodological, terminological and ethical issues of accounting.

In the new reality: the purpose of accounting goes beyond the scope of passive recording of technical operations and acquires the functions of conducting an analysis of the economic activities of the enterprise, determining strategic development directions, and managing risks; theoretical and terminological incompatibilities formed over the years, circumstances hindering the development of teaching and practical skills, have become clearly visible; the need to improve professional ethics and regulations.

Critical analysis reveals that the emphasis on technical details of teaching accounting fundamentals in higher education programs and the lack of orientation towards developing managerial thinking skills, the provision of vague, inappropriate, and often incorrect terminology, creates misunderstandings among students and practicing professionals alike.

The authors share opinions, the feasibility of which is dictated by the need to review the views formed over the years towards the profession, modernize educational programs, refine terminology, strengthen professional ethics, integrate technological competencies, and create an accounting model tailored to business. The main direction of the changes to be implemented is to move accounting to a new stage of functioning in line with technological trends and to establish a status for the accountant in the leadership hierarchy appropriate to his contribution and role.

The role of Marketing Communications in raising consumer awareness of energy-efficient products

Devi Shonia — 2025-12-27

Energy efficiency marketing has become an important component of strategic business communication. Recent research shows that energy efficiency is perceived as strategic business communication. It includes customer-oriented marketing (CX-based EE), behavioral marketing, and communications marketing (digital, visual, and social media). It is a combination of brand, customer, technology, and integrated communication policy whose main goal is to change consumer experience and behavior.

One of the key tasks of marketing in the field of changing experience and behavior is to determine how to convey information about energy efficiency to consumers so that it is perceived as a strategic investment. Specific customers must clearly understand why they need it, what they need to do to get it, what benefits it will bring, and when. Behavior, as a combination of awareness, opportunity, and motivation, is an active force that ensures the correct, long-term, and widespread use of marketing communications technologies.

Effective marketing communication in the field of energy efficiency requires, in addition to defining consumer behavior criteria (awareness, environmental values, culture, habits, economic opportunities, and motivation), an assessment of the business environment, technologies, infrastructure, and government policy.

Based on an analysis of recent work by leading specialists and experts in this field, this article will provide a conceptual framework for understanding the relationship between energy efficiency marketing and consumer behavior criteria. In addition, based on an analysis of real business cases from Georgia, the main barriers and challenges that need to be considered for effective marketing communication in the field of raising awareness of energy efficiency will be identified.

The study will enrich existing knowledge on energy efficiency marketing. It will also provide significant assistance to practitioners in developing effective messages tailored to the needs of target audiences with specific behavioral tendencies, selecting communication channels, and evaluating interactivity and results.

Money and Capital...

Naskhida Darbuashvili — 2025-12-27

The article discusses the problems characteristic of the capitalist system, their causes and impact on the socio-economic development of society.

The authors focus on the destructive manifestations of the distortion of the essence of economic doctrines and the threats to humanity that accompany the establishment of liberal views.

The work reflects opinions on the factors that determine the constant political and economic crises in the capitalist system; answers are given to the questions: who, why did it need it and how did modern pseudo-democracy arise? What is more important in today's world, a person or money and capital? What causes double standards in relations between countries?; What was the true goal of the world wars and what do economic problems portend for civilization.

Investments as the main factor in the development of Georgian regions

Natela Vashakidze — 2025-12-27

Every region represents a unique economic system. Any option for regional economic policy requires a significant level of investment, which is closely related to solving the problem of institutional development of regions. Innovative scenarios for regional development are unthinkable without the involvement of private business. Accordingly, in modern socio-economic conditions, it would probably be illusory for the region to only expect state support and not take action to overcome a number of problems on its own.

Unfortunately, there are few competitive regions in Georgia that could play a driving role in the process of economic growth. This has an extremely negative impact on the qualitative and quantitative indicators of the national economy.

The author analyzed statistical information on investments (Foreign direct investment and investment in fixed assets), conducted regression analysis, and established correlations between investments and GDP generated in the region.

The analysis revealed significant disparities in the distribution of investments between regions, indicating the need for a more balanced approach to investment infrastructure. The paper uses statistical, comparative, structural, and factor analysis methods.

The impact of international taxation on the Georgian economy

Nika Khulordava — 2025-12-27

Over the past decade, international tax reforms have significantly reshaped the global economic landscape, particularly for small open economies that rely heavily on foreign investment. Georgia is among the countries most affected by these changes. The implementation of the 15% global minimum tax, the BEPS standards, and stricter international transparency requirements have fundamentally altered the environment in which Georgia previously competed through low tax rates. This paper examines how these transformations influence Georgia’s economic dynamics, investment climate, and fiscal policy. The analysis draws on recent economic data, international assessments, and domestic structural characteristics. The paper concludes that Georgia must adjust its development model by reducing its dependence on tax-driven incentives and transitioning toward an economy built on knowledge, innovation, productivity, and human capital.

Conceptual Challenges of Small Entrepreneurship in Contemporary Conditions

Guram Futkaradze — 2025-12-27

This article aims to analyze the systemic and structural challenges facing small entrepreneurship within the socio-economic context of Georgia. Small entrepreneurship is one of the key instruments of modern economic development, playing a significant role in increasing employment, realizing innovative potential, and ensuring regional diversification. Nevertheless, in Georgia, small enterprises face a range of complex obstacles that hinder their efficiency and limit the full realization of their development potential. The article discusses major issues such as limited access to financial resources, bureaucratic and regulatory barriers, market access difficulties, technological disparities, and infrastructural challenges, particularly in regional contexts. Ultimately, the study seeks not only to identify existing problems but also to propose practical recommendations that will support the sustainable and inclusive development of small entrepreneurship in Georgia, especially in light of regional economic empowerment and digital transformation.

Foreign Direct Investment in Georgia: Trends, Impact, and Future Prospects

Lasha Gumberidze — 2025-12-27

It is undeniable that foreign direct investment plays an important role in the development of countries around the world, and Georgia is no exception. It can be said that Georgia is a country in the post-Soviet space that stands out for its policy towards foreign direct investment. Since gaining independence, foreign direct investment has become an important factor in its economic development, and to this day, dynamic and statistical analysis of the volume of FDI in the country does not lose its importance.

As a small, open economy strategically located between Europe and Asia, Georgia relies on foreign direct investment to support infrastructure development, energy projects, logistics, tourism, and financial services. Although foreign direct investment inflows to Georgia have fluctuated in line with global trends and regional dynamics, they continue to play an important role in strengthening economic resilience, improving the business environment, and deepening the country's integration into global value chains.

Jean Monnet Module at Sokhumi State University: Project Implementation Results and Dissemination

Larisa Takalandze — 2025-12-27

At present, the support of the State in order to develop the CSR in Georgia represents important means for the sustainable development of the companies in the long run; it will enlarge the ground for the partnership between the State and business and make significant contribution into attracting new sources for the sustainable growth of economics. Finally, it will facilitate achievement of one of the key priorities of Georgia – integration into the European structures and European market.

The general objective of the Jean Monnet Module project is to improve quality of study programs at Sokhumi State University (SSU) in the field of European integration. Introduction of the module «Corporate Social Responsibility (CSR) in the European Union: Experience for Georgia” will contribute to the training of students at SSU; it will acquaint them with the evolution and forms of CSR in the EU. In order to increase the number of student mobility in the frameworks of EНЕА, it is necessary that students study the experience of CSR in the EU countries and are able to hold an intercultural dialogue. In the period of modern challenges for Georgia, the issue of development of CSR has become extremely important.

The experience of the EU carries more importance for the students, especially, for the students of SSU, where mostly internally displaced persons, also the youth residing in occupied Abkhazia (including representatives of Abkhaz nationalities) are studying, since they are facing the real politic, economic, social challenges of the modern globalized and competitive world; they should take an active part in building the country and determine the course of political and economic development. Therefore, they will be able to use acquired knowledge and experience in their future endeavors and practice at Georgian companies. Moreover, the project activities will contribute to the Georgian entrepreneurs’ awareness of the CSR in the EU countries.

ATTENTION JOURNAL READERS AND POTENTIAL AUTHORS!

Journal "Business and Legislation" — 2025-12-27

We think it is interesting for you to inform that the journal “Business and Legislation” has been published since December 2020 with an international scientific-analytical status and is indexed in the international search databases: ERIH

PLUS and Google Scholar, as well as in several other databases (see the main page of the site at ojs.b-k.ge).

Over the years, the journal has been a reliable partner for business circles, an experienced guide in the field of business,

a kind guide in the labyrinths of legislative acts, a selfless servant for the academic field and will continue this tradition.

The journal is open to all interested parties. It is possible to publish articles in Georgian, English, German and Russian

languages on topical issues of business administration and management, economic and social policy. Reviews of published

monographs and manuals, as well as comments, clarifications, notes and recommendations for improvement on legislative

acts are accepted.

Regarding the new status of the journal, we remind you of the rules for publishing a scientific article and provide you

with additional requirements:

- The scientific article should be presented in A4 format. The volume, including the list of used literature and the

abstract, should not be less than 7 pages of typed text on the computer with 1.5 spacing and 11 font size and should

not exceed 20 pages. It should outline the relevance of the research problem, research goals and objectives, research

methodology, research results (newness), recommendations.

- The paper written in Georgian must be accompanied by abstracts in Georgian and English - up to 1000 marks each.

For those written in a foreign language - main content on 2-3 pages in Georgian and abstract in the same foreign language.

- It is necessary to submit the article to the editors as a printed copy, together with the version (Georgian and foreign

language text - Asylfaen font, and foreign language text - Times New Roman). Below the title of the article (on the right

side) should be indicated the full name, surname, academic degree, position, telephone and e-mail address of the author

(or authors).

- The article should show the use of important literature related to the research problem. The name of the literature

should be placed at the end of the article in the form of a single list: a) the name of the book in the following order - surname

and initials of the author (authors), name of the book, place of publication, publishing house, year; b) for a journal article -

surname and initials of the author(s), title of the article, title of the journal, year, number of the journal. The source indicated

in the bibliography should be used in the text of the article. When quoting from the work of this or that author, he should

indicate the source by indicating the appropriate page in the following way [3, p. 41], where the first digit corresponds to

the serial number of the quoted source in the list of used literature, and the second - to the page from which the quotation is given. The bibliographic description of each book (journal) in the bibliography should correspond to its title page.

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space - maybe on the next page. Tables, graphs and charts should have a title and numbering.

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With a separate exception, publishing an article is paid - the fee for publishing an article in a journal is 150 (fifty) GEL.

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If these requirements are not met, the article will not be published and will not be returned to the author.

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