Year 2008, Issue 3
Date published5.9.2008
Table of content
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Mihail Chipriyanov
Product Benchmarking ResearchJEL: M21Keywords: Benchmarking, Strategic Research, Strategic Decisions, Strategic Management, Planning Programming Budgeting System (PPBS)Summary: As a method for strategic research and decisions, benchmarking contributes to determining the best practices in different companies and to understanding the key factors promoting their success. To that end, the most significant... As a method for strategic research and decisions, benchmarking contributes to determining the best practices in different companies and to understanding the key factors promoting their success. To that end, the most significant achievements of others are introduced to the organization. Product benchmarking especially contributes to finding the most important factors for success in the supply market. This supports the elaboration of management decisions concerning implementing product policies and, thereby, stimulating the creation of the best product quality and increasing product value for the customers.DOI: -
Valentin Milinov
On the Characteristics and Evolution of Monetary PolicyJEL: E52Keywords: monetary policy, levels of monetary policy, monetary policy „toolbox”, expansionistic, restrictive, and neutral monetary policy, monetary policy objectives (operative, interim, final), monetary policy strategies, targeting, Monetarists - Keynesians debate, IS-LM model, currency board, European Monetary Union, currency board abandonmentSummary: The study investigates the problems related to monetary policy within the process of its evolution and according to the development of the monetary policy theories and the stages of development of the economy and the monetary... The study investigates the problems related to monetary policy within the process of its evolution and according to the development of the monetary policy theories and the stages of development of the economy and the monetary systems. The paper reviews the various levels of implementation of monetary policies and the possibilities for its influencing the economic process. The influence is effected through direct and indirect tools used by the national banks. For this end the banks set certain operative (short-term), interim, and final (long-term) objectives, the most important factor being the choice of adequate strategy of the monetary policy, i.e. the choice of „nominal anchor”. In this respect the study focuses on monetary targeting, inflation targeting, and currency exchange rate targeting. The experience of other countries is especially valuable for Bulgaria in the process of the country’s accession to the European Monetary Union. The study comes to the conclusion that in this respect the most important question is how the currency board shall be abandoned: (1) whether it must be preserved until the country’s accession to the European Monetary Union or (2) the peg of the Bulgarian lev to the Euro should be abandoned prior to the accession to the European Monetary Union.DOI: -
Nikolay Zhivkov
Parliamentary Governance and Democracy in Bulgaria (1878-1918)JEL: Z00Keywords: parliamentary form of government, democracy, liberal democracy, political rights of citizens, electoral systemSummary: This paper examines how empowered political forces as subjects of parliamentary government have been guided by democracy and what errors have been admitted into their activities at the scene of the Bulgarian political... This paper examines how empowered political forces as subjects of parliamentary government have been guided by democracy and what errors have been admitted into their activities at the scene of the Bulgarian political life.DOI: -
Elena Yordanova
Values and Managerial CommunicationKeywords: collective consciousness, individual consciousness, values, managerial relationships, responsibility, tolerance, manager, employees, moralitySummary: The material that is presented focuses on the development of the human thought from the collective to the individual consciousness and their harmonious unification in the field of contemporary management. The companies are the... The material that is presented focuses on the development of the human thought from the collective to the individual consciousness and their harmonious unification in the field of contemporary management. The companies are the environment in which different values are to be encountered, and in which the necessity of agreement between the personal and the collective interests is of major importance for the effectiveness of the managerial communication. The material also emphasizes on values that are vital for the manager and the employees – responsibility and tolerance, and it discusses their application in the process of the managerial relationships.DOI: -
Georgi Batashki, Nikolay Ivanov
Contemporary Aspects of Bank's Accounting PolicySummary: The banks are basic element of the banks system with a basic object of activity financial intermediary and money business. They mobilize and transform into active capital significant part of the money resources of the Economy, they... The banks are basic element of the banks system with a basic object of activity financial intermediary and money business. They mobilize and transform into active capital significant part of the money resources of the Economy, they do the payments between companies and population also they realize various credit, investment and other operations. In such a way the banks permit to set in motion the savings sourced from the lack of correspondence in the goods and money movements, to settle down timely and without losses the relations between the enterprises in the country and these from abroad. The banks are a strong factor in the realization of the financial policy of the country. Due to the close relations with the regulatory organs and the Government, and also with the Instructions applied, the banks play basic role in supporting of the public trust into the money system. Due to this reason there is a considerable interest to the successfully functioning of the banks, especially what concerns their liquidity and solvency. The role of the Accounting and the Accounting policy in this process are very important. They will be object of this research.DOI: -
Ludwig Von Mises
Human Action, Part Four, Chapter XX. Interest, Credit Expansion, and the Trade Cycle && 7-9Summary: We assume that in the course of a deflationary process the whole amount by which the supply of money (in the broader sense) is reduced is taken from the loan market. Then the loan market and the gross market rate of interest are... We assume that in the course of a deflationary process the whole amount by which the supply of money (in the broader sense) is reduced is taken from the loan market. Then the loan market and the gross market rate of interest are affected at the very beginning of the process, at a moment at which the prices of commodities and services are not yet altered by the change going on in the money relation. We may, for instance, posit that a government aiming at deflation floats a loan and destroys the paper money borrowed. Such a procedure has been, in the last two hundred years, adopted again and again. The idea was to raise, after a prolonged period of inflationary policy, the national monetary unit to its previous metallic parity. Of course, in most cases the deflationary projects were son abandoned as their execution encountered increasing opposition and, moreover, heavily burdened the treasury. Or we may assume that the banks, frightened by their adverse experience in the crisis brought about by credit expansion, are intent upon increasing the reserves held against their liabilities and therefore restrict the amount of circulation credit. A third possibility would be that the crisis has resulted in the bankruptcy of banks which granted circulation credit and that the annihilation of the fiduciary media issued by these banks reduces the supply of credit on the loan market.DOI: