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Aglika Kaneva
Analysis of the Profitability Indicators and Indicators for Assessment of Assets Quality of the Banks in Bulgaria in the 2007 – 2018 Period
Summary:
This research is dedicated to the profitability of the banks in Bulgaria - profit after tax, return on equity and return on assets. Òhe dynamics of indicators for assessment of assets quality of banks such as banks risk exposures and impairments of credits of the banks has been examined that like the profitability indicators are highly influenced by the financial crisis.
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Maya Tsoklinova
Impact of the Green Economy on the Level of Health Status of Population in Some EU Member States
Summary:
Many of the European Union's policies are related to promoting the idea of a ecological and resource-efficient economy, respecting the principles of the green economy. The latter is defined as the main tool through which the goals of sustainable development can be achieved. The green economy is perceived as a universal approach that has an impact on the long-term development of national economies and helps to solve a number of problems related to the economy, public welfare and environmental protection. The aim of the article is to make complex assessments of the level of the green economy and the level of health status of the population in some European countries and to establish the degree of interdependence between them. The first complex assessment is based on the following indicators: consumption of inorganic fertilizers; environmental taxes and fees by economic activities; a contribution to the USD 100 billion international commitment to climate-related spending; capacity for production of electricity from renewable sources and waste; production in industry, and the second one is based on: average life expectancy; share of people with good or very good perception of health as a value; air pollutants and greenhouse gases; causes of death; general health expenditure. It was found that the degree of dependence between the two complex estimates is large, since the value of the correlation coefficient (r) is 0.87.
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Stefan Simeonov, Teodor Todorov, Daniel Nikolaev
Determinants of Stock Exchange Activity in the Conditions of the Bulgarian Fund Market
Summary:
Popular scientific and practical researches on stock exchanges usually consider price indicators, especially stock indices, which essentially reflect economic expectations. Unlike those, the present study focuses on stock market activity, measured by the direct stock exchange indicators – stock exchange volume and stock exchange turnover. We have selected seventeen determinants of stock exchange activity, which are initially subject to correlation analysis together with the two indicators. Relatively weak dependencies on macro factors have been found as for the natural indicator (the stock exchange volume) and slightly stronger dependencies of the price indicator (the stock exchange turnover) have been established. The subsequent causality analysis, based on the Granger model, sheds light on some of the more significant determinants of stock exchange volume and turnover at the Bulgarian Stock Exchange. In the monthly surveys, the stock exchange volume factors are inflation in Bulgaria, silver and platinum price changes and, regarding stock exchange turnover, Leonia + interest rates and quotes in addition. In the quarterly observations, the amount of household deposits appears with impact that is more significant.
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Matilda Alexandrova
Knowledge-Based Economy – Driving Forces and Indicators
Summary:
The idea for replacement of capital by knowledge as the main source of progress provides ground for the idea of “knowledge-based economy”. This is an economic system in which knowledge appears to be a dominating resource in the same way as – in a former period of development – capital outweighed the land as a source of economic power during the shift from pre-industrial to industrial society. The paper outlines several groups of indicators that typically identify the degree of development of the knowledge-based economy: employment structure (relative shares of employed by economic sectors and sub-sectors, along with the change in these shares), education level (access to relevant professional and higher education; relative share of expenditures for education -general and vocational- in GDP), R&D (researchers by scientific areas; investments in R&D as % of GDP; structure of R&D funding, particularly the share of private funding), etc.
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Ivaylo Stoyanov
Indicators to Managing High Tech Enterprises
Summary:
In the crisis circumstances, technological enterprises can win if they change the way to make successful business. Therefore we think that they give a new meaning the rules for sustainable development. The fetch must be concentrates not only the customers needs. That is one of the possibilities for successful business. Because they change repeatedly their needs, the organizations not always be react in time. In this point of view high tech enterprises must be recognize the indicators that influence for successful management.
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Stefan Simeonov, Teodor Todorov, Daniel Nikolaev
Development of Frequency Analysis of the Volatility in a Model to Forecast the Financial Markets Trend and Comparative Empirical Assessment with the Technical Analysis
Summary:
The present study aims to develop the concept of predictive applicability of the Frequency Analysis of the Volatility and Trend (FAVT) as well as practical testing of the modified model for forecasting stock exchange indexes with different characteristics. For greater objectivity in estimating the forecast outcomes, FAVT is placed in parallel with traditional statistical models and the most popular method in stock exchange traders - technical analysis. In the first part of the study we develop the methodology of the concept of predictive applicability of FAVT in its modified version with movable calculation (FAVT-MC) of the frequency coefficients. The methodology of the study includes investment analysis measures, traditional statistical forecasting models, quantitative indicators of technical analysis and a modified version of the FAVT-MC. The conclusions of the statistical analysis show low applicability of linear forecasting in determining changes in the trend, while the alternative approach – non-linear forecasting yields significantly better results but under conditions of high investment activity and large variation. The choice of technical analysis tools is deliberately placed on quantitative measures known as technical indicators and does not include Eliot's Wave Theory. The results found are of varying reliability for the over ten technical indicators applied.
Exploration of the forecasting significance of the FAVT with movable calculation for the main (long-term) trends on stock exchange indexes achieved results with a reliable signal value for the end of the large growth before the general stock market collapse at the end of 2007. Clearly unambiguous results for all the periods surveyed in the performance of the different stock indices regarding the change of their major trends after the 2008 crisis were not established. A more significant importance of the modified frequency analysis, allowing the reading of forecast signals, is established for the short-term trends of the stock exchange indices.
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Daniela Feschiyan
Financial Analysis of the Structure, Composition and Effective Use of Publicly Owned Real Estate
Summary:
The research presents the structure and content for a system of indicators for financial analysis of publicly owned real estate. The aim is to clarify the logic, significance, numerical values and methods of use of the proposed indicators for financial analysis and evaluation of the effective use real estate. Potential approaches of examining their comparability and compatibility with other indicators, as well as opportunities for clustering of similar performance and time tracking analysis of objects are discussed. The methodology for deriving the indicators and their meanings enables the study of the effectiveness of the functioning of publicly owned real estate. The proposed system of indicators will improve the effective decision making in the management of publicly owned real estate. Developed by the author, a system of indicators of financial analysis of municipal property was piloted in 6 municipalities in South-Eastern Europe - the Municipality of Tirana, Municipality of Bucharest, Sofia Municipality, Municipality of Athens, City of Zagreb, and Municipality of Cajetina.
