Year 2009, Issue 1
Date published6.3.2009
Table of content
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Plamen Petkov
Algorithm for Econometric Estimation of the Aggregated Production Function by Transcendental Logarithmic (translog) ApproximationKeywords: aggregate production functions, Cobb-Douglas production function, Constant Elasticity of Substitution (CES) Production Function, Variable Elasticity of Substitution (VES) Production Function, Constant Returns to Scale, Transcendental logarithmic (translog) approximation, Taylor seriesSummary: The study analyzes the dependence of gross domestic product of the number of employees and gross fixed capital formation in Bulgaria with the help of the aggregate production function. Based on quarterly data, which covered the... The study analyzes the dependence of gross domestic product of the number of employees and gross fixed capital formation in Bulgaria with the help of the aggregate production function. Based on quarterly data, which covered the first quarter of 1996 to the first quarter of 2007, is examined the elasticity of substitution of production factors. It is tested three types of production functions – a production function with variable elasticity of substitution of factors (VES-function), a production function with constant elasticity of substitution of factors (CES-function) and classical Cobb-Douglas function. Estimates of the parameters were obtained with the least squares method, applied to transcendental logarithmic (translog) approximation of the production function.DOI: -
Milka Bakyrdzhieva
Humor - a Means of Efficient Business Communication. Age, Gender and Cultural DifferencesJEL: M10Keywords: humour, sense of humour, efficient business communication, age, gender and cultural differences, trainingSummary: Humour is considered a means for efficient business communication and a factor for successful business. It relieves the tension and stress, „breaks the ice”, leads to creative decisions, conveys inconvenient truths as skillful... Humour is considered a means for efficient business communication and a factor for successful business. It relieves the tension and stress, „breaks the ice”, leads to creative decisions, conveys inconvenient truths as skillful jokes, wins sympathy and trust when the jokes are directod to the speaker, „aikido”, etc. Everybody can learn how to joke. This requires some knowledge on the essence of humour, the main types of humour, the importance of humour, and especially on the existing age, gender, and cultural differences. With such knowledge and appropriate trainnig everybody shall know when, where, and how to use his sense of humour.DOI: -
Ivanka Daneva
Regulation of Pension Fund Investments in Bulgaria – Developments and TrendsJEL: G23Summary: The experiences sharing in relation to the pension reform in Bulgaria is very interesting because Bulgaria was one of the first countries in Eastern Europe to embark upon pension reform in the early 1990s. This statement is divided... The experiences sharing in relation to the pension reform in Bulgaria is very interesting because Bulgaria was one of the first countries in Eastern Europe to embark upon pension reform in the early 1990s. This statement is divided into three parts: • Brief overview on the Bulgarian Pension Reform – the stages of its implementation; the main features of the reform and development of Pension funds in the country; • Describing pension funds investments regulation almost 9 years after the beginning of the pension reform; amendments of pension legislation related to investments of pension funds assets; • The last part consists of the main forthcoming changes in regulation and I will try to make some concluding comments.DOI: -
Hristo Sirashki
Trends in Project Portfolio ManagementJEL: O22Keywords: projects, project management, project portfolio, Project Management Office, Project office, Office of management of projects, Council of project managementSummary: The article is devoted to some aspects of the system of project management activity in project oriented organizations as there is more and more growing interest of the organizations in Bulgaria to project management usage. The main... The article is devoted to some aspects of the system of project management activity in project oriented organizations as there is more and more growing interest of the organizations in Bulgaria to project management usage. The main motive for this probably is the becoming aware necessity of the organizations to improve their managerial processes. The purpose of the article is to shape out some of the advantages of the Project Management Office (PMO) as an element of the system of project management and also its role in project portfolio management in project oriented organizations.DOI: -
Borislav Borisov, Teodora Filipova, Evelina Parashkevova Velikova
A Process of Implementation of Investment Projects within the Scope of Corporate Innovation ActivitiesSummary: The innovation activities of the Bulgarian companies lag behind the development of innovation culture and business attitude. The problems are due to the lack of information about the characteristics of the innovations as well as the... The innovation activities of the Bulgarian companies lag behind the development of innovation culture and business attitude. The problems are due to the lack of information about the characteristics of the innovations as well as the insufficient knowledge on the investment practices in this field and the available financing programmes. By means of the process approach the article aims to clarify the nature of investments and innovation, innovation project management and the possible sources of financing. An attempt has been made to justify the need for a methodology of investment projects implementation within the scope of corporate innovation activities as well to formulate some principle requirements for it.DOI: -
Ludwig Von Mises
Human Action, Part Four, Chapter XXI.Work and Wages && 7-9Summary: The self-sufficient man who works in economic isolation for the direct satisfaction of his own needs only, stops working at the point at which he begins to value leisure, the absence of labor's disutility, more highly than the... The self-sufficient man who works in economic isolation for the direct satisfaction of his own needs only, stops working at the point at which he begins to value leisure, the absence of labor's disutility, more highly than the increment in satisfaction expected from working more. Having satisfied his most urgent needs, he considers the satisfaction of the still unsatisfied needs less desirable than the satisfaction of his striving after leisure.DOI: