Safar Purhani

@wcu.edu.az

Tourism and industrial economics
Western Caspian University



              

https://researchid.co/safarpurhani

RESEARCH, TEACHING, or OTHER INTERESTS

Economics, Econometrics and Finance, Tourism, Leisure and Hospitality Management, Industrial relations, General Economics, Econometrics and Finance

18

Scopus Publications

19

Scholar Citations

3

Scholar h-index

1

Scholar i10-index

Scopus Publications

  • A qualitative study on the influence of tourists on the formation of restaurant menu content
    Murad Alili, Hijran Rzazade, Safar Purhani, Nizami Huseynov, and Ibrokhim Sapaev
    CRC Press

  • Green economy: How did COVID-19 affect the sustainable practices of Hilton Worldwide and Marriott International?
    Jalil Safarli, Vali Valiyev, Safar Purhani, Ibrokhim Sapaev, and Khodjimukhamedova Shakhida
    CRC Press

  • The place of the concept of holistic tourism in domestic and foreign literature: A document analysis
    Hijran Rzazade, Murad Alili, Safar Purhani, and Ibrokhim Sapaev
    CRC Press

  • State finance: The role of digital tax calculations in macroeconomics of Azerbaijan
    Safar Purhani, Babayev Nusret, and Nilufar Esanmurodova
    CRC Press

  • Digital marketing in mountain tourism: Challenges of the new time and development priorities
    Safar Hasan Purhani, Sevda Binyat Mamedova, Dilrabo Mukumova, and Nilufar Esanmurodova
    EDP Sciences
    The tourism industry is increasingly playing a special role in the economy of countries, regions, cities and individual locations. It not only becomes a source of replenishment of territorial budgets directly, but also contributes to the development of small and medium-sized businesses, contributes to the creation of new jobs, influences the technological and digital transformation of territories. Modern conditions impose their own restrictions on the development of the industry and, at the same time, open up new opportunities for domestic tourism in Russia. The purpose of the study was to identify structural changes and trends in the development of the tourism industry in connection with demographic, socio-economic, epidemiological and foreign policy transformations. The author of the article updated the role of territorial marketing and presented proposals for its transformation taking into account the challenges of the new time. The main research methods are content analysis, evaluation of statistical information, spatio-temporal analysis. Based on an in-depth study of trends, new marketing tasks for territorial authorities and tourism market participants in the creation and promotion of destinations are substantiated. The territorial marketing tools proposed by the author, aimed at attracting tourists and developing the tourism industry as part of the territorial economy as a whole, take into account modern trends in the development of commercial marketing and are adapted to the conditions and capabilities of individual destinations. The issues of transformation of territorial labor and service markets in the context of the development of the tourism industry are covered. The key conclusion is the need to revise the conceptual approaches of locations to the issues of building territorial marketing and implementing marketing strategies. The author proposes measures, the implementation of which will make the socio-economic development of territories more sustainable and effective in a rapidly changing world.

  • The role of mentoring in the employee professional development and career growth
    Maksym Hryshchenko, Mykyta Artemchuk, Larysa Zavhorodnya, Yurii Tymoshenko, and Safar Purhani
    Sapienza: International Journal of Interdisciplinary Studies
    Background: Mentoring is an important tool for realizing the personal potential of specialists in various fields, but its effectiveness directly depends on a number of organizational issues and a clear definition of approaches and goals. The aim of this research is to determine the criteria for choosing alternative approaches to mentoring depending on the expected positive effects. Methods: The study employed SWOT analysis, questionnaire survey, and semi-structured interviews. Results: The analysis found that each of the proposed approaches to mentoring is effective in the context of achieving different goals. Group mentoring and peer mentoring are effective for achieving specific goals — salary increases, career advancement, and increased number of professional contacts. So, the result of these mentoring approaches is the most “visible” and can be evaluated by certain quantitative and qualitative indicators, such as the amount of salary, transition to a new position, number of new acquaintances. Conclusions: Peer mentoring additionally has significant advantages for the development of soft skills through equal communication with like-minded people and the sharing of experiences. Further research may focus on the development of specific mentoring programmes. The results of the study can be useful for companies in choosing an approach to mentoring in view of the desired effects.


  • THE IMPACT OF LENDING ON THE INNOVATIVENESS OF LIGHT MANUFACTURERS
    Юлія Войцеховська, Олексій Мухін, Сафар Гасан Пурхані, Людмила Ткачук, and Роман Мірошник
    FinTechAlliance
    Інноваційна діяльність підприємств виступає як фундамент для зміцнення їхньої позиції в галузі, забезпечуючи стійкий доступ до передових технологій. Аналіз взаємозв'язків між доступом до кредитування та інноваційною діяльністю дозволяє не лише оцінити ефективність інвестиційних рішень підприємств, а й визначити бар'єри, що заважають їхньому прогресові. Саме це обумовлює актуальність обраної теми дослідження. Метою цього дослідження є визначити вплив кредитування на інноваційність підприємств легкої промисловості, що є суттєвим для розуміння механізмів, які сприяють розвиткові галузі. Для встановлення причиново-наслідкових зв’язків використано тест Ґрейнджера. Для перевірки моделі проведено тест Дікі-Фулера. Оцінку впливу та аналіз здійснено за допомогою кореляційно-регресійного аналізу. Результати дослідження вказують на те, що відсутній причиново-наслідковий зв’язок між кредитуванням і зростанням кількості інноваційних підприємств легкої промисловості. Згідно з даними регресійного аналізу, інвестиції в інноваційні підприємства в Швеції демонструють значний позитивний ефект, адже збільшення фінансування на 1 мільйон доларів веде до 11% зростання кількості таких компаній. У США підвищення кредитування на ту саму суму стимулює лише 4% зростання інноваційних підприємств легкої промисловості. Великобританія зафіксувала подібний показник на рівні 2%, водночас у Сінгапурі він сягає 6%. Ці відмінності свідчать про варіативність ефективності інвестицій у різних країнах. Отримані результати можуть значно сприяти поглибленню досліджень застосування кредитування для впровадження інновацій на підприємствах легкої промисловості. Перспективним напрямом подальшого аналізу є вивчення впливу кредитних механізмів на інноваційний розвиток галузі легкової промисловості в країнах, що розвиваються. Це дослідження має потенціал для виявлення ключових факторів, які сприяють успішному впровадженню нововведень у цій царині.

  • The Role of Investment in the Production Equipment Modernization and Its Effect on Productivity
    Yuliya VOYTSEKHOVSKA, Lilia BUBLYK, Anna KUKHARUK, Safar Hasan PURHANI, and Natalia BILOVA
    SC ASERS SRL
    Purpose: The aim of the study is to determine the role of investment in the production equipment modernization and to assess the impact of this investment on the company’s productivity.Methodology: The research employed calculation of the Weighted Average Cost of Capital (WACC), as well as the Net Present Value (NPV), Profitability Index (PI) as the methods. The final stage was the application of the correlation coefficient. For the company Builders FirstSource Inc used as an example the calculated WACC was 8.74%, for Hardie Industries plc. this figure was 9.31, for Boral — 4.3%, and for Grafton plc — 5.6%. The Profitability Index was 1.30 (Builders FirstSource Inc,), 2.34 (Hardie Industries plc), 1.51 and 1.46 for Boral and Grafton plc. The Net Present Value (NPV) amounted to $10,863 million and $128,173 million for Builders FirstSource Inc and Hardie Industries plc., respectively.Findings: The study showed a close relationship between productivity and investment in equipment modernization, as the correlation coefficients are 0.991 (Builders FirstSource Inc,), 0.994 (Hardie Industries plc), 0.83 (Boral), and 0.97 (Grafton plc), indicating a close correlation. The obtained results can be successfully used by manufacturing companies to assess the feasibility of investment in modernization.Originality: A possible direction of further research is the introduction of gradation of investments in modernization, with clarification of the types of modernization and the type of equipment that will be modernized.

  • The Impact of Digital Ecosystems on the Financial Management Efficiency in State Institutions
    Olena YATSUKH, Artem CHYHYRYNSKYI, Safar Hasan PURHANI, Olena BULHAKOVA, and Mykola DURMAN
    SC ASERS SRL
    Purpose: Digital ecosystems are a key driver of development at the current stage, in particular, in state institutions. Increasing efficiency of financial management through digitalization in the public sector is one of the key directions. The aim of the study is to determine the impact of digital ecosystems on the results of financial management in Ukrainian and Azerbaijani public institutions.Methodology: The research employed the methodological tools of regression and correlation analysis, as well as descriptive statistics to determine the impact of digitalization on the effectiveness of financial management of institutions. The application of the least squares method revealed a statistically significant positive effect of digital technology spending (β1 = 0.0528, p = 0.010) on management efficiency, while other variables showed insignificant or negative effects. The model explains 43.6% of the variation in the dependent variable, with R-squared = 0.436 and Adjusted R-squared = 0.285.Findings: Correlation analysis confirmed a strong positive relationship (r=0.58) between digitization costs and management efficiency. The article provides practical recommendations for optimizing the implementation of digital technologies in the management of public finances, including the development of electronic services and increasing the level of digital literacy.Originality: Further research in the chosen direction will be focused on the formation and implementation of a system of key indicators of the effectiveness of digital ecosystems from the perspective of the efficiency of financial management in public institutions of Ukraine and Azerbaijan.

  • Implementation of cloud computing in the digital accounting system of logistics companies
    Mohammad Ahmad Alnaimat, Oleg Kharit, Iryna Mykhailenko, Ihor Palchyk, and Safar Purhani
    4S go, s.r.o.
    The aim of the article is to determine the capabilities of cloud services for meeting the needs of logistics companies in the management of supply chains and digital accounting. The study provides a review of current academic publications, analysis of official documentation of cloud service provider companies, and expert opinion of the authors of the study. The study was based on information about the 5 most popular cloud services used by companies to perform mathematical calculations. Amazon Web Services focus on reliability and scalability, providing a wide range of data storage and processing services, as well as performing serverless mathematical calculations. Microsoft Azure stands out for its integrated solutions, as well as data management and analytics services. Google Cloud offers a wide range of development and analytics tools, including data visualization and data sharing. Oracle Cloud provides comprehensive financial and database management solutions. SAP Cloud Platform specializes in financial management and analytics solutions. The results of the research open up prospects for studying the problems of integrating services built on different platforms and finding optimal solutions for combining the existing system of mathematical calculations in a logistics company with the offered cloud-based services.

  • The Role of Emotional Intelligence in Making Successful Financial Decisions
    Svitlana BYKOVA, Mykhailo ZHYLIN, Olena BULAVINA, Mykyta ARTEMCHUK, and Safar Hasan PURHANI
    SC ASERS SRL
    Emotional intelligence (EI) as the ability for self-analysis, self-motivation, and self-regulation is necessary in the process of financial activity. It ensures informed decision-making, considering consequences and perspectives. The aim is to identify the influence of emotional intelligence on the effectiveness of decision-making by financiers. The following tests were used: EQ (Emotional/Empathy Quotient) test, Melbourne Decision Making Questionnaire, the Rathus Assertiveness Schedule, the Schubert Risk Propensity Test. Statistical processing of the results included the use of descriptive analysis, ANOVA, and regression analysis. The study found that financial workers with a high level of emotional intelligence have a pronounced “vigilance” decision-making style (F=113.4, p≤0.01), high assertiveness (F=103.3, p≤0.01), and risk propensity (F=137.3, p≤0.01). It was proved that emotional intelligence explains the “vigilance” decision-making style (β=0.943, R²=0.572), risk propensity (β=0.896, R²=0.424) and explains 48% of assertiveness (β=0.945, R²=0.483). It was confirmed that emotional intelligence is a predictor of successful financial decisions, it determines high assertiveness, vigilance, and risk propensity. Such results are useful for the development of training and retraining programmes for financiers. At the same time, including the development of assertiveness and risk propensity in professional and corporate training in parallel with the development of EI will give greater chances for the success of financial decisions. The obtained results are important for the financial and economic sphere, as they prove the effectiveness of EI in decision-making. This contributes to the improvement of the system of training competitive financiers and allows to expand aspects of the study of financial success.

  • Comparative Assessment of Energy Security Level: The Case of the South Caucasus Countries
    Shafa Aliyev, Mayis Gulaliyev, Safar Purhani, Gulsura Mehdiyeva, and Elchin Mustafayev
    EconJournals
    The paper compares the energy security of three South Caucasus countries - Azerbaijan, Georgia, and Armenia. These countries differ from each other due to the use of different energy sources. The investigation used 28 indicators classified into six groups based on World Bank data to assess energy security. Indicators for each group were assessed as “stimulating” or “not stimulating” energy security. According to the results, Georgian’s energy security is less risky because of it uses renewable energy sources. Ensuring long-term energy security in Azerbaijan requires greater use of renewable energy sources. Armenia’s energy security is at higher risk due to its higher dependence on imports and poor use of renewable resources.

  • The Impact of using Blockchain on the Auditing Profession
    Mohammad Ahmad Alnaimat, Oleg Kharit, Safar Purhani, Olena Symonenko, and Hanna Bratus
    World Scientific and Engineering Academy and Society (WSEAS)
    Rapid technological changes cause several challenges for established processes and approaches to the auditing. A special role in this context is assigned to the blockchain as a key driving force in changes in auditing. The aim of the article is to identify the key features of blockchain’s impact on auditing. The research employs economic and statistical methods, namely trend analysis, in-depth semi-structured interviews, assessment of the economic effect to identify the main changes in auditing under the influence of blockchain technologies. The experience of using blockchain was studied through a sample of 27 auditors from Azerbaijan, Israel, and Jordan. The respondents indicated changes in the operational work of auditors (88,9% of respondents) among the main areas of influence of blockchain technologies. The surveyed auditors also consider it necessary to improve auditors’ IT skills under the influence of blockchain (88,9% of respondents). The respondents emphasize the appropriateness to change the audit methodology under the influence of blockchain (77,8% of respondents). The surveyed auditors see the prospect in using real-time auditing (55,6% of respondents) and other higher value-added services (44,4% of respondents). Data from the financial statements of the 4 largest auditing companies were analyzed to determine the economic effect of the impact of blockchain on auditing. It was determined that the average annual growth rate under the basic scenario is 6.9% for 2023-2025, or $72.1 billion on average per company in 2025. The prospects for further research are studying the directions of strategic and operational transformations in auditing because of the influence of blockchain in terms of audit methodology, organizational structure of audit companies.

  • Adaptation of Logistics Companies to Functioning under the Restrictions Imposed by Military Operations
    Olha Semenda, Valentyna Shevchenko, Safar Purhani, Oleg Kharit, and Nataliia Krasnostanova
    World Scientific and Engineering Academy and Society (WSEAS)
    The logistics system serves all areas of life it has a direct impact on ensuring national security. Except for the number of specific risks that logistics naturally faces, it is one of the first to feel the negative consequences of global crisis phenomena. A large-scale military invasion was the most significant test for the logistics system of Ukraine. So, the article aimed to evaluate the financial indicators of logistics companies to determine their ability to adapt to the restrictions imposed by military operations. The research involved the following methods: analysis of coefficients, taxonomic analysis, and matrix analysis. The study found that the studied companies have insufficient adaptation potential in the field of finance. It was determined that the low values of the adaptation potential are associated with the insufficient level of liquidity, financial stability, business activity, and profitability of the studied logistics companies. The main problems are caused by insufficient working capital to cover the current debt, low level of financial stability and independence, diversion of funds, and low profitability.

  • FEATURES OF CAPITAL INVESTMENT IN INNOVATION: THE CASE OF INDUSTRIAL SMES IN THE GUAM MEMBER COUNTRIES
    Safar Pürhani, Alida Huseynova, Yegana Hakimova, Flora Kashiyeva, and Esmira Guluzada
    Journal of Eastern European and Central Asian Research
    The article aimed to empirically substantiate the features of capital investment in innovation depending on financial stability for Industrial SMEs in the GUAM Organization for Democracy and Economic Development, which consists of four post-Soviet states: Georgia, Ukraine, Azerbaijan, and Moldova. We differentiated the levels of financial stability of industrial SMEs in the region: high, medium, and low. We have determined the positive effect of capital investments in innovation at all levels of financial stability using regression modeling. Regardless of financial strength and capital intensity, investing in innovation provides higher performance indicators for companies than investing in the renewal of fixed assets without modernization. The increase in the efficiency of capital investments in SMEs is more significant for financially stable and less capital-intensive companies than for companies with low financial stability and high capital intensity. Identifying the features of the relationship between the financial stability of SMEs and capital investment will allow the development of effective strategies for economic collaboration within the framework of the GUAM Organization.

  • Peculiarities and prospects of ICT in agricultural business
    Iveta Pokromovica, Kateryna Khavrova, Alona Goloborodko, Olga Chatchenko, Evgenia Sokolova, and Safar Purhani
    Informa UK Limited
    ABSTRACT Current crises and market conditions mean that information and communication technology is crucial for business development. Prior to the 2022 Russian invasion, conditions were right for digital transformation of the agricultural sector despite only modest state support. Under all-out war, we cannot expect more but digitisation will help agriculture and the war effort by cutting production costs, increasing the protection of the employees and enterprises, the efficiency of management, and the efficacy of communication with potential customers and other stakeholders.

  • HUMAN CAPITAL AS A DRIVER OF SUSTAINABLE DEVELOPMENT IN AZERBAIJAN
    Safar Pürhani, Shafa Guliyeva, Vusala Teymurova, Narmin Guliyeva, and Shahla Gahramanova
    Journal of Eastern European and Central Asian Research
    The article's purpose is to empirically substantiate the impact of human development (HC) on the sustainable development of Azerbaijan in current conditions. Using the principal component method, we have determined the components of HC (a factor of professional development, health status, availability of labor force, financial activation of human potential) and sustainable development (low-tech economic development, medium and high-tech economic, environmental, and social development. Regarding the assessment of the influence of the HC components on sustainable development in Azerbaijan, we used the methods of linear and non-linear regression models. A differentiated nature of the effect of the HC components on sustainable development has been established, depending on the state of health of the population, on the level of technological effectiveness of the economy. It has been substantiated that the driver of sustainable development is the qualitative rather than the quantitative component of HC.

RECENT SCHOLAR PUBLICATIONS

  • Peculiarities and prospects of ICT in agricultural business
    I Pokromovica, K Khavrova, A Goloborodko, O Chatchenko, E Sokolova, ...
    International Journal of Environmental Studies 80 (2), 299-306 2023

  • Features of capital investment in innovation: The case of industrial SMEs in the GUAM countries
    S Prhani, A Huseynova, Y Hakimova, F Kashiyeva, E Guluzada
    Journal of Eastern European and Central Asian Research (JEECAR) 10 (2), 281-292 2023

  • Human capital as a driver of sustainable development in Azerbaijan
    S Prhani, S Guliyeva, V Teymurova, N Guliyeva, S Gahramanova
    Journal of Eastern European and Central Asian Research (JEECAR) 9 (6), 927-937 2022

  • AZƏRBAYCAN RESPUBLİKASINDA GMRK NƏZARƏTİNİN TƏŞKİLİ VƏ ONUN HQUQİ ƏSASLARI
    SH Prhani, EE Qanbayev
    İQTISADİ TƏHLKƏSİZLİK: MVCUD VƏZİYYƏT VƏ PERSPEKTİVLƏR, 113-117 2020

  • AZƏRBAYCANDA QEYRİ-NEFT SEKTORUNUN İNKİŞAFI PROBLEMLƏRİ VƏ XARİCİ İNVESTİSİYALAR
    SH Prhani
    İQTISADİ TƏHLKƏSİZLİK: MVCUD VƏZİYYƏT VƏ PERSPEKTİVLƏR, 86-89 2020

  • Перспективы использования CRM-систем в предпринимательстве
    ОН Маркова, СГ Пурхани
    V МЕЖДУНАРОДНЫЙ БАЛТИЙСКИЙ МОРСКОЙ ФОРУМ, 995-1001 2017

MOST CITED SCHOLAR PUBLICATIONS

  • Human capital as a driver of sustainable development in Azerbaijan
    S Prhani, S Guliyeva, V Teymurova, N Guliyeva, S Gahramanova
    Journal of Eastern European and Central Asian Research (JEECAR) 9 (6), 927-937 2022
    Citations: 13

  • Features of capital investment in innovation: The case of industrial SMEs in the GUAM countries
    S Prhani, A Huseynova, Y Hakimova, F Kashiyeva, E Guluzada
    Journal of Eastern European and Central Asian Research (JEECAR) 10 (2), 281-292 2023
    Citations: 3

  • Перспективы использования CRM-систем в предпринимательстве
    ОН Маркова, СГ Пурхани
    V МЕЖДУНАРОДНЫЙ БАЛТИЙСКИЙ МОРСКОЙ ФОРУМ, 995-1001 2017
    Citations: 3