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Milena Beneva
Implementation of Environmental Factor in Pension Investments
Summary:
Modern financial markets create a new criterion for evaluating the investment performance of companies - a multidimensional approach that combines the financial, social and environmental aspects together. A sustainable and responsible investment approach is perceived as a long-term driver of value and many institutional investors around the world, incl. pension funds, integrate it into their traditional investment process. At the same time, Bulgarian private pension funds either neglect (underestimate) the issues of sustainable development, or changå their investment policy too timidly and uncertainly.
After an in-depth analysis of the sustainable and responsible investment practices imposed by the ecological leaders among the pension funds, the current research paper offers an adapted model for integrating the "green" investment trend, consistent with the organization and development of voluntary private pension funds in Bulgaria.
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Gergana Dancheva Ivanova
Insolvency as a Crisis Financial Position in the Enterprise: Symptoms, Factors and Stages of Development
Summary:
As a result of the increasing number of enterprises, which have initiated insolvency proceedings in the recent years, the problem of improving the diagnosis of the insolvency of enterprises acquires the key importance for the stability of the economy (becomes a matter of great). This study presents the factors, symptoms and stages of insolvency development as a crisis financial position in the enterprise and on this basis it approach a methodology for diagnosing the disease „insolvency“. The study identifies three meanings of insolvency and brings out its characteristic features. The risk factors triggering the development process of financial insolvency are divided into two types: internal and external. The article outputs, identifies and formulates four stages, characterizing the development of financial insolvency, each of which is characterized by certain symptoms.
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Irena Nikolova
Specifics in the Definition of Currency Risk
Summary:
Risk management is one of the tools for diminishing the negative effect on the companies in the non financial sector in times of economic and financial crisis. The foreign exchange risk as a part of the whole risk in a company has a direct as well as indirect influence on its corporate activities. The factors that influence the foreign exchange risk, the different economic levels and the foreign exchange risk as well as the various exposures to the risk are presented in this paper.
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Ludwig Von Mises
Human Action, Part Four, Chapter XXII. The Nonhuman Original Factors of Production
Summary:
In the frame of Ricardian economics the idea of rent was an attempt at a treatment of those problems which modern economics approaches by means of marginal-utility analysis. Ricardo's theory appears rather unsatisfactory when judged from the point of view of present-day insight; there is no doubt that the method of the subjective-value theory is far superior. Yet the renown of the rent theory is well deserved; the care bestowed upon its initiation and perfection brought forth fine fruits. There is no reason for the history of economic thought to feel ashamed of the rent theory.
