-
Andrey Zahariev, Galina Zaharieva, Margarita Mihaylova
Digitalization and Recruitment of Human Resources in Banking and Insurance Companies: A Comparative Analysis
Summary:
The present study has a theoretical and empirical perspective in its construction. In the first aspect, the aim is to study the theoretical achievements in the field of digital technological solutions for the selection of human resources, their potential advantages and disadvantages, and in the second aspect - an analysis of the policies of the Bulgarian financial enterprises in the field of digitalization, incl. human resources, the practices of using modern techniques of selection, the potential for their improvement and refinement. The object of the research is the Bulgarian enterprises from the banking and insurance sectors, and the subject - their digitalization policies and the modern methods of selection of human resources that they use. The surveyed insurance companies form 65.35% of the gross premium income of the Bulgarian non-life insurance market as of 30.06.2022. The studied credit institutions are licensed by the BNB commercial banks in the Republic of Bulgaria, which manage 70.04% of the assets in the banking system of the studied national market as of 30.06.2022. The comparative analysis of the two groups of financial enterprises shows both similarities and significant differences. Due to the larger number of managed personnel, commercial banks are developing their own platforms for digitization and HR selection, while the process for insurers is more conservative and relies on intermediaries. The received answers to questions on the Likert scale related to digitalization in human resources management establish significant differences in expert assessments for the two groups of financial enterprises.
-
Stefan Breuer, Patrick Szillat
Leadership and Digitalization: Contemporary Approaches Towards Leading in the Modern Day Workplace
Summary:
: The objectives of this research article are to shed light on the recent developments in management in a digital environment as well as the related challenges and opportunities in this matter. Thus, transformational leadership as the basis for the current change processes will be described. Afterwards a theoretical review of the current developments towards an entirely new digital leadership approach will be conducted by reviewing the current state of research on this topic. These theoretical key findings will then finally result in an overview of the success factors and needed characteristics of today’s digital leaders.
-
Elena Stavrova
The Changes in the Banking Industry under the Influence of the Digitalization Process in the Conditions of Covid-19 Pandemic
Summary:
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.
-
Radka Andasarova
Role of the International Federation of Accountants (IFAC) in Promoting Public Sector Accounting Reform
Summary:
Digital governance and applying a framework for general purpose financial reporting by public sector entities are the key for successful reform in European countries. IFAC standard-setting activities and digital technologies in the public sector accounting are analyzed. The initiative is widely supported by IFAC member bodies and associates, representing more than 3 million professional accountants across the globe. This article's purpose is to study the role of IFAC in the process of accounting reform in the public sector. It is considered that the International Federation of Accountants (IFAC) has a significant and key role in this process, promoting of the new platform for digital access to IAS- eIS and the tools to assist public sector entities transitioning from cash to the accrual basis of accounting – “Pathways to Accrual“.
-
Galina Chipriyanova
Specificity of The Digitalization of the Training in Accounting, Bachelor’s Degree
Summary:
A key commitment in digitalization is the integration of digital technologies in existing learning processes to add more value to the educational product. The digitalization of accounting training favors its development as a process based on meaningful learning activities that take place in an interactive environment and on specific work situations about accounting practice.
Special attention is paid to determining internal factors for the success of this process, such as the presence of strong leadership, defined strategic goals of digitalization, creation of new working models and finding the right digital tools.
Three main options for further digitalization of accounting training are presented as in parallel the research analyzes the possibilities of the applicable digital tools.
-
Elitsa Dimova
The Technological Age – Counterpoint of Man as Non-Man
Summary:
Globalism has changed the world beyond recognition by forcefully establishing a new paradigm and definition of a human being. Digitization, which is part of the globalization process, has also been called the "fourth industrial revolution". It forms new social relations quite quickly, equipped with a new conceptual apparatus. A consequence of this is that technology is globalizing all types of data, including personal data, making it available to companies and turning it into a commodity. In the last 20-30 years and in the last two years and the COVID-19 pandemic, nanotechnologies have entered medicine that change the internal bio-environment of the human organism. They are aimed at improving the health of the individual. But one of the aspects of their application is gene editing, which in relation to the protection of human rights, turns out to be a shady practice. This applies to all living organisms on the planet, not only to humans, and the consequences drastically affect the foundation of existence itself. The analysis in the article is also focused on the so-called "fifth freedom" in the European Union or free movement of data as part of AI regulation. It raises the question of whether the concept of human needs to be redefined and whether the term "non-human" can be used when tampering with sensitive DNA-related data, modifying it and using it as a commodity.
