Year 2011, Issue 4

Date published

5.12.2011

Table of content

  • Violeta Kasarova, Marcellin Yovogan, Ralitsa Dimitrova, Krasimir Kostenarov
    Value Added Creation by Intellectual Capital in Bulgarian Public Companies
    JEL: G30
    Keywords: added value, intellectual capital
    Summary: In this paper we apply the measurements of intellectual capital focusing on the human capital efficiency (HCE), the structural capital efficiency (SCE), the intellectual capital efficiency (ICE) and the value added intellectual... In this paper we apply the measurements of intellectual capital focusing on the human capital efficiency (HCE), the structural capital efficiency (SCE), the intellectual capital efficiency (ICE) and the value added intellectual coefficient (VAICTM ) developed by Pulic (2000; 2004) for non financial companies listed at Bulgarian Stock Exchange (BSE) using accounting data published with their financial statements for the period 2005-2009. The research is focused on companies in the manufacturing and tourism industry in order to derive any particularities in the measurements. The financial industry is excluded from the study as being specific. At this moment and at our knowledge, there’s no significant research on the value added of intellectual capital of Bulgarian non – financial industry. We extended the formula of intellectual capital valuation and arrived at the conclusion, that intellectual capital is playing an important role in the value creation process in companies listed at BSE. The relationship between the components of VAIC TM and the Tobin’s Q indicator characterizing the market performance of public companies.
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  • Hristo Sirashki
    Innovation Management – an Alternative for the Ecologization of Activities in the Mining Industry
    JEL: O32, P28
    Keywords: innovations, innovation potential, ecologization, environmentally friendly activities, mining industry, natural resources
    Summary: This paper deals with some theoretical issues concerning innovation management. The emphasis falls on the importance of keeping the environment clean and the activities carried out in the mining industry. It analyzes and evaluates... This paper deals with some theoretical issues concerning innovation management. The emphasis falls on the importance of keeping the environment clean and the activities carried out in the mining industry. It analyzes and evaluates the results of a study on the state of certain sites for raw materials mining. It also draws conclusions on the management of innovations concerning the ecologization of the mining industry.
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  • William Barnett Ii, Walter E. Block
    The Rate of Time Preference: a Praxeological Oxymoron
    Keywords: Praxeology, choice, preference, time, discount, interest rates, ordinal and cardinal utility
    Summary: In ordinal utility analysis, one can but prefer or set aside. A person can choose option A or option B. Chalk or cheese, guns or butter. There cannot be any such thing as a rate at which a man engages in such activities. Cardinality... In ordinal utility analysis, one can but prefer or set aside. A person can choose option A or option B. Chalk or cheese, guns or butter. There cannot be any such thing as a rate at which a man engages in such activities. Cardinality cannot enter into the picture. No one prefers a given amount of chalk twice as much as cheese. This basic praxeological insight should not be lost sight of when we enter the more complex realm of time preference and interest rate determination. And yet, it commonly is. For we all speak of a “time preference rate.” This is an oxymoron and a praxeological monstrosity. The present paper is devoted to promoting clear thinking by attempting to purify economic language, so as to jettison the concept of a “time preference rate.”
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  • Galina Chipriyanova
    Possibilities of Improving the Accounting of Provisions in Companies with Constuction Activity
    JEL: M 41
    Keywords: accounting, construction, provisions, IAS 37 Provisions, Contingent Liabilities and Contingent Assets, AS 37 Provisions, Contingent Obligations and Contingent Assets, defects, environmental restoration, restructuring
    Summary: The article examined issues concerning the nature of the provision as a reporting category, the methodology for measuring the value of provisions and the improvement of their accounting. With specific examples of the practice are... The article examined issues concerning the nature of the provision as a reporting category, the methodology for measuring the value of provisions and the improvement of their accounting. With specific examples of the practice are represented regulated in IAS 37 / AS 37 Provisions, Contingent Obligations and Contingent Assets cases of provisioning: the removal of hidden defects (construction defects respectively), which of hidden becoming actually in the process of exploitation, environmental restoration; restructuring of the company. Proposed are three methods for determining the amount of the provision as the case of the accounting of the costs for provisions in companies with construction activity.
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  • Elitsa Petrova
    Support for the Small and Medium Business in the EU
    JEL: R10
    Keywords: SMEs, entrepreneurship, public-private partnerships, corporate social responsibility
    Summary: The purpose of the paper is to present at various national and European legislative and desirable instruments and initiatives aimed at supporting small and medium businesses. Subject of the study are small and medium-sized... The purpose of the paper is to present at various national and European legislative and desirable instruments and initiatives aimed at supporting small and medium businesses. Subject of the study are small and medium-sized enterprises, European policy. The present design consists of three main modules: the first "Modern Policy in SMEs", the second module, "Entrepreneurship and public-private partnerships", the third module, "Support for EU businesses."
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