Year 2021, Issue 4
Date published23.12.2021
Table of content
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Elena Stavrova
The Changes in the Banking Industry under the Influence of the Digitalization Process in the Conditions of Covid-19 PandemicSummary: The market capitalization on the world banking market reached USD 7.2 trillion, and on the digital banking market - more than USD 800 trillion. The average annual growth of 4% has long been a stable source of income for banks. The... The market capitalization on the world banking market reached USD 7.2 trillion, and on the digital banking market - more than USD 800 trillion. The average annual growth of 4% has long been a stable source of income for banks. The development of digital consumer lending and payment systems is also attracting non-banking players, who are expanding their influence in institutional business, which makes the corporate banking market dynamic. The profound change brought about by the open and interconnected corporate banking ecosystem is taking place in conditions of extreme change, zero interest rates and a surplus of money supply. Although some areas of the financial markets are less exposed to these significant shocks, it is impossible to protect them from development in an open ecosystem. These changes may even be slower or less pronounced in some services, such as structured lending, large corporate payments, but technological developments are also taking place. Working with 'full vaults', emerging FinTech competitors, the COVID-19 pandemic and the slower-than-expected recovery of global supply chains are all challenges that banks need to address and are the subject of this study.DOI: -
Petya Emilova, Kremena Marinova
Innovative Solutions and Technologies in Tourism as an Opportunity for Digitalization of the Hotel BusinessKeywords: hotel information systems, types of hotel information systems, Web based hotel information systems, Web 2.0, cloud services, IoTSummary: Modern information and communication technologies are a factor for achieving effective management in the tourism sector and in particular hotels, and for this purpose they need to implement appropriate to their scale and... Modern information and communication technologies are a factor for achieving effective management in the tourism sector and in particular hotels, and for this purpose they need to implement appropriate to their scale and requirements modern hotel information systems. The purpose of this article is to study the hotel information systems offered on the software market and in particular those that successfully combine leading innovative trends such as application in the business of web technologies, cloud solutions and others. In this regard, the following tasks have been solved: the possibilities of Web 2.0 technologies, cloud services and Internet of Things (IoT) technology as important technological factors for the development of the tourism and hotel industry have been analyzed; the peculiarities and functional possibilities of the hotel information systems are presented; criteria for selection of hotel information system are outlined; în this basis, a comparative analysis of the web-based hotel information systems offered on the software market has been made; factors and recommendations for selection and implementation are defined.DOI: -
Diyana Ivanova
Problems in the Structuring and Building the Administrative Capacity of the Internal Audit in the Public Sector in BulgariaSummary: Within the framework of the present study, the attention is focused on the financial management and control of public funds and activities, and, in particular, on the problems in the structuring and building the administrative... Within the framework of the present study, the attention is focused on the financial management and control of public funds and activities, and, in particular, on the problems in the structuring and building the administrative capacity of the internal audit in the public sector organizations in Bulgaria. Based on relevant information presented in the Consolidated Annual Reports on Internal Control in the Public Sector in the Republic of Bulgaria of the Ministry of Finance, existing problems in this aspect of the contemporary internal audit and opportunities for overcoming them are examined.DOI: -
Andrey Minchev
Cultural Differences in Internationalization of SMEs in AsiaSummary: Cultural differences in internationalization are defined in Hofstede’s methodology and examined in the internationalization settings in Asia of international small and medium-sized enterprises. The objective is to be determined... Cultural differences in internationalization are defined in Hofstede’s methodology and examined in the internationalization settings in Asia of international small and medium-sized enterprises. The objective is to be determined whether cultural differences exert any effect on the internationalization of enterprises in Asian countries in the context of their internationalization approaches. On the basis of the theoretical review it is deducted that in most cases disregardance of Asian cultural differences can result in negative consequences for the internationalization of small and medium-sized enterprises as well as that the network approach to internationalization dominates in the field. The research paper elucidates the necessity for overcoming cultural differences in internationalization in Asian countries as well as the significance of cultural differences in internationalization approaches.DOI: -
Ìàðèíà Èâàíîâà Ìèëèíîâà
New Opportunities for Development of the Fintech Sector through the Sandbox Regulatory RegimeSummary: The changes that are becoming more and more rapid and irreversible in the financial world inevitably lead to the need to introduce tools for their monitoring and regulation. This need for legislation requires the emergence of new... The changes that are becoming more and more rapid and irreversible in the financial world inevitably lead to the need to introduce tools for their monitoring and regulation. This need for legislation requires the emergence of new technologies, including and the new sandbox-type control modes. The RegTech Sandbox itself is one of the sophisticated RegTech regulatory technology tools. The Sandbox is a "safe place" where businesses can test their innovative products and services, business models and delivery mechanisms so that consumers are protected. New financial products and technologies can be checked to see if they meet certain rules, regulatory and safety requirements. The most significant contribution from the use of sandbox is the help they provide to new companies to orient themselves in compliance with the complex legal and regulatory norms governing the financial industry.DOI: -
Tihomir Lichev
In memory of Prof. Dr. Hristo MarinovKeywords: in memoriamSummary: ... -DOI: