Year 2013, Issue 1

Date published

10.3.2013

Table of content

  • Plamen Petkov
    Econometric Estimation of Bulgarian Investment Function
    JEL: C22, C52, C53, G18
    Keywords: investment function, cointegration analysis, causality analysis, error correction models (ECM), forecasting
    Summary: An investment function in economic terms is a concept or strategy that explains the relationships between shifts in the national income and changes in the investment patterns in the national economy. In this publication the... An investment function in economic terms is a concept or strategy that explains the relationships between shifts in the national income and changes in the investment patterns in the national economy. In this publication the methodology of vector error correction model (VECM) is applied to investigate long-run and short-run relationships between investments and some of their key determinants - real gross domestic product, inflation, discount interest rate and a composite index of financial development. Econometric analysis is based on annual data, which covered the period from 1991 to 2011. It is estimated there are three investment functions – of the total investment, private investment and foreign direct investment. Åach function is analyzed with and without structural shocks occurring in the study period.
    DOI: 1
  • Beata Skowron Mielnik, Marcin Golembski
    Shared Service Centers as a Tool for Organizing Flexible Personal Function in an Enterprise
    JEL: M12, M50
    Keywords: Human resources management, Personnel function, flexible organization
    Summary: Polish Association of Human Resources Management (PSZK) there have been identified four main job market challenges in Poland [Czy polscy pracodawcy … 2011]. There are as follow: motivation adjusted to age and sex; lack of talents;... Polish Association of Human Resources Management (PSZK) there have been identified four main job market challenges in Poland [Czy polscy pracodawcy … 2011]. There are as follow: motivation adjusted to age and sex; lack of talents; retention of talents; and transformation of HR function.The analyses of situation in the scope of the last challenge mentioned shows that a lot of managing personal function workers have got ambition to act a leading strategic role in an enterprise. However, they admit themselves that personal departments are still reduced to a role of a business support or an administrator. The weak side of Polish organizations remains effective measurement of personal function especially rate of return from human capital investment. If personal function is to fulfill role of strategic partner it needs to change an attitude for more professional one in an organization. Desiring to be a business partner personal departments ought to make earnest assessment of their current activities and plan possible development areas for them. Measurements of effectiveness of personnel function should be an active base as though personal departments were able to have strategic function in an organization. Such transformation demands form personnel departments transferring their engagement on new fields and as a consequence reorganizing administration processes through their automation and outsourcing. The aim of the article is to show a meaning of flexible organization of personal processes within contemporary entities and introduction of common center services as a optimization tool and flexible organization of personal function in an enterprise. There are pilot research assessments presented in the article concerning SSC/BPO serving HR processes. The article has got a cause character and is a base for further deepened direct researches.
    DOI: 1
  • Valentin Milinov
    Investment Portfolios of Insurance Companies: Essence, Structure, Problems
    JEL: G3, G11, G31
    Keywords: insurance companies, investment portfolio, structure, investments, investment risk, crisis
    Summary: The article reviews the nature and changes in the investment portfolios of insurance companies in crisis. Investment of equity and reserves is an essential part of the overall activities of insurance companies. Insurance companies'... The article reviews the nature and changes in the investment portfolios of insurance companies in crisis. Investment of equity and reserves is an essential part of the overall activities of insurance companies. Insurance companies' asset management includes investments in securities that generate investment and operating cash flows in the financial markets. Under the conditions of a global financial crisis efficient investment portfolios must be built on optimal diversification of the various types of investment in order to reduce the investment risk.
    DOI: 1
  • Polya Angelova
    Farm Accountancy Data Network (FADN) in the Context of Agricultural Statistics
    JEL: C1, C8, Q1
    Keywords: Farm Accountancy Data Network – FADN, Community typology of holdings, Type of farming, Economic size, Standard Gross Margins
    Summary: The Farm Accountancy Data Network (FADN) is a partial representative survey for evaluating the income and economic activities of agricultural holdings in the European Union. The survey covers only holdings that are considered... The Farm Accountancy Data Network (FADN) is a partial representative survey for evaluating the income and economic activities of agricultural holdings in the European Union. The survey covers only holdings that are considered market-oriented or commercial and they form the field of observation. In this paper we present the methodological framework of the FADN survey with the emphasis on the basic definitions and main indicators describing the activities of the agricultural holdings. Further we clarify the criteria used for the stratification of the holdings, the sampling methods and the contents of the Farm Return questionnaire. More attention is focused on the specific application of the FADN in Bulgaria with statistical analysis of the main economic results of the agricultural holdings for the period 2004 – 2009.
    DOI: 1
  • Julia Nikolaevna Hristova Petkova
    Consumer Evaluation of Competitiveness of Importers of New Cars in Bulgaria
    JEL: Ì31
    Keywords: competitiveness, marketing position, competitive position, survey, sources of competitive advantage
    Summary: The competitiveness of the commercial business is a topical and important problem of modern society and economy. The ability of business organizations to seek and use best sources of competitive advantage, from external and internal... The competitiveness of the commercial business is a topical and important problem of modern society and economy. The ability of business organizations to seek and use best sources of competitive advantage, from external and internal environment determines their survival in a dynamic market environment. Due to lack of time and resources most companies do not conduct systematic market research and often make management decisions based on incomplete information, best practice or intuition. Meanwhile, the company's products are intended for the consumers and their perceptions are often subjective and irrational, that requires their study. The main aim of this article is to identify the sources of competitive advantages, which are based on consumer evaluation of competitive position of the enterprise.
    DOI: 1
  • Dimitar Trendafilov
    Communication properties of brand
    JEL: M31
    Keywords: brand, communication, consumer behavior, socio-culture, economy of information
    Summary: The article is dedicated to brand as a communication device in marketing practice and, thence, it attempts to define in clearer manner why and how brand serves to companies’ sale objectives, and how could be used more successfully... The article is dedicated to brand as a communication device in marketing practice and, thence, it attempts to define in clearer manner why and how brand serves to companies’ sale objectives, and how could be used more successfully as a tool. The main thesis is that brand deserves the whole responsibility and attention of the management since in the contemporary business environment it is superb, but not one and only, instrument for taking hard-to-copy competitive advantages and it provides the much needed dialogue with consumer, who on her/his side has more and more opportunities to influence brand’s life in the market. Also the most important tasks of brand in terms of communication are listed, and by means of two diagrams its main elements and their functions are illustrated in different perspectives.
    DOI: 1