-
Pencho Penchev
More about the Food Supplying Problem
Summary:
One of the most important issues facing humanity is the food supplying problem. There are two ways to produce food: a) natural way which is not in contradiction with environment and b) unreasonable way which threatens human existence. The article focuses on the second one and displays the expected negative consequences: irretrievable negative changes of the planet which in turn threaten human existence. In order to avoid them, the article shows opportunities to meet food needs which are consistent with natural conditions.
-
Anatoliy Asenov, Hristo Sirashki
“The Crisis – an Objective Process or a Subjective Error” (Traditional Student Essay Competition)
Summary:
Initiated by the Department of Management, Tsenov Academy of Economics, Faculty of Management and the Students’ Union, the traditional student essay competition was held for the sixth successive year. The topic was “The CRISIS – AN OBJECTIVE PROCESS OR A SUBJECTIVE ERROR.”
-
Ivanka Tsoneva
“Black" or Negative PR as Competition Tools
Summary:
Negative PR-technologies are not obvious. Some of them are the result of careless talking, writing, creating slogans and trade-marks. One second group results from destroy someone’s public reputation. The less transparent third group concerns strongly negative methods applied to create awareness, sympathy, and complicated part of dealing with efforts to technologies are the les from the current practice illustrate the recommended methods.
-
Elitsa Petrova
"Created by Us" - an Example of Realization of Youth Initiative Project
Summary:
Supporting the successful realization of young people from different ages and social status with the priority of the children and young people with unequal social status is the main aim of the project.
Some General objectives of the project are to develop skills for independent choice in children and young people in risk, to stimulate their willingness to take active part in social society, to create conditions for their including at different education and social activities according their interests, to activate the social activity of children in unequal social status with involving them in public activities and arts as a possibility for spontaneous and direct expression. To make a provision for optimum circumstances for civil and professional education, physical, mental and moral progress of the children and young people from Veliko Tarnovo municipality, to support their realization and social integration.
The project is based on the activities for children and young people: in the sphere of arts – music, art and ceramics, theater, dance, literature in the sphere of education social work with children in unequal status.
-
Tamara Kalistratova
Burn Out in Middle Management and its Prevention in The Context Of Remote Work
Summary:
The shift to remote working has a significant impact on the way people work, especially middle managers who play a pivotal role in organizations. There is broad consensus that they have key responsibility in implementing strategies and in terms of operations and organizational culture. The analysis suggests a competing mediating effect of role switching on the relationship between job stress and well-being. The study also provides theoretical and practical implications for human resource management and the design of flexible work policies from a sustainability perspective.
-
Kristina Stoyanova
European Policies for Multilingualism
Summary:
The present study aims to present contemporary European multilingualism policies. In the spirit of European values, the quest for knowledge is directed towards the development of language competences in more than one of the European languages. These policies are gaining momentum especially after Britain's exit from the European Union. The purpose of the research is to show the direction in which the European policies for multilingualism are heading. They are of utmost importance for the development of common values in the European Union and represent an indispensable support for the sustainability of the Ênion. Learning another foreign language has many positive sides. learning a language other than the mother tongue develops a new way of thinking in the learner. This is of utmost importance for creating a climate of acceptance and mutual understanding.
-
Hrabrin Bashev
Agrarian Contracts, Process of Contracting and Contractual Order
Summary:
In modern conditions, much of the relationship between agrarian agents, and agricultural activity in general, is governed by some forms of contract. However, economic analyzes of agrarian contracts in Bulgaria are incidental, limited to individual types of contracts, and detached from the process of contracting and contract imlementation, and dominating institutional order. This article continues the presentation of a holistic A-M-P-O approach to the economic analysis of contracts and contractual relations of agrarian Agents by conducting an economic analysis of the available contractual Means, the agrarian contracting Process, and the resulting contractual Order. First, a classification of the principle types of contracts is made and their economic characteristics, possibilities and disadvantages for governing the relations of agrarian agents are analyzed. After that, the stages of the agrarian contracting process is analised, the critical factors of transaction costs presented, and a matrix for determining the most efficient governing form, depending on the combination of critical dimensions of agrarian transactions, suggested. Finally, the specific contractual and governance order resulting from the contractual process is analyzed, and the stages of the process of improving contractual relations in the agrarian sphere are presented.
-
Plamen Petrov
The Agricultural Sector in Bulgaria - Convergence and Current Trends
Summary:
The specifics of the common agricultural policy in Europe and the reforms organized in the chronicle of the Bulgarian economy over the last 30 years require a rethinking of the market positions of economic agents, having their permanent presence in the agricultural business of the country. Despite the fact that the Operational Programs of the European Structural Funds have the character of a net donor for the strengthening of the industry during the two programming periods, there is still an underdeveloped potential for proper market orientation, weak convergence and competitive form to make it a monolithic foundation of economic reality, opposing the crisis effect of a number of other sectors.
-
Desislava Aleksieva
Administrative Activity and Social Potential in Public Administration
Summary:
The subject of the study is to uncover new, intangible resources in the field of administration and management. The main objective of the article is to explore the relationship between administrative behaviour and social potential.
Administrative behaviour is considered as a collection pattern of behaviour and relationships at different hierarchical levels. The social potential ensures the implementation of the main activities in the public administration, evolving in employee-society relations and attributing to concrete public benefits.
-
Alketa Pasholli
Actual Problems and Good Practices in Accountancy Teaching to Students in Albania
Summary:
The profession of accountacy in Albania on the road to the euro , represents a challenge to be faced. The 21st century requires the field of accounting profession to have a more qualitative education, improved programs of professional preparation in order to bring up an accounting professional capable to meet the growing requirements and prevent undesirable situations. The qualitative preparation of the accounting professionals starts at school, from the professional high school to university ( finance and accounting departments) and continues even furthers with different qualifications near professional organizations and institutions.
The purpose of this paper is to present the achievements in the field of education and training of the accounting professional, existing problems and recommendations on potential improvements needed. This analysis is particularly focused on the shortcomings of the development of the accounting education starting from the curriculum deficiencies of the Economic Faculty or other economic oriented faculties in public or private universities, educational programs of the accounting professional organizations and institutions, ect. This paper tries to answer the following questions: How effective are our undergraduate programs in combining theoretical and practical elements and what are the potential improvements needed? What are some of the best-experiences in the other well-known accounting schools in the preparation of the qualitative accounting professionals and what are the necessary improvements? Finally, recommendations will help in determining potential approaches in order to improve the accounting profession education system and increasing its.
-
Kiril Luchkov
Àccents of Annual Accounting Closure in Non-Financial Enterprises
Summary:
In the present research we are focusing our attention on some principled and procedural questions about the annual accounting closure in non-financial enterprises applying IAS/IFRS as a reporting base related to preparation and presentation of the annual financial statement. Without claims of exhaustion, the main stages of annual accounting closure are analysed in chronological order, the duration of which depends on specific features of the enterprise itself and the organisation of the accounting process. Emphasis is placed on the inventory of the assets and liabilities whose purpose guarantees the informational authencity which is announced in the annual financial statement.
-
Plamen Petkov
Algorithm for Econometric Estimation of the Aggregated Production Function by Transcendental Logarithmic (translog) Approximation
Summary:
The study analyzes the dependence of gross domestic product of the number of employees and gross fixed capital formation in Bulgaria with the help of the aggregate production function. Based on quarterly data, which covered the first quarter of 1996 to the first quarter of 2007, is examined the elasticity of substitution of production factors. It is tested three types of production functions – a production function with variable elasticity of substitution of factors (VES-function), a production function with constant elasticity of substitution of factors (CES-function) and classical Cobb-Douglas function. Estimates of the parameters were obtained with the least squares method, applied to transcendental logarithmic (translog) approximation of the production function.
-
Irena Emilova
Altruism and Selfishness in the Behavior of the Human Factor in the Management
Summary:
The article considered the event of altruism and selfishness in the behavior of the human factor in the management. Clarified is opposite nature of the two concepts and the factors, which to some extent explain manifestations. Referred are some practical advices for their identification because of high-speed diagnosis.
-
Svilena Mihaylova
Analysis and Assessment of the Policy Towards Foreign Direct Investment in Bulgaria in the Period 1990-2018
Summary:
Foreign direct investment (FDI) has been regarded as an important driver of economic development in Bulgaria since the very start of market transition, which determined the establishment of a liberal foreign investment regime. However, the impressively large FDI stock, which was accumulated during the period of growth before the global crisis, has quite unfavorable sectoral and regional structure. In combination with the substantial drop of FDI after the crisis and its very low levels in the following years, this suggests that there are certain weaknesses of the policy towards FDI. Given the importance of the topic, the paper tries to analyze and assess FDI policy in Bulgaria. For this purpose, first we discuss some key features of inward FDI, then we outline the changes in the legislation in this field and in the end, some critical arguments and recommendations are given.
-
Mariela Dimitrova, Vitan Todorov
Analysis and Trends in Tax Audit Practice in Bulgaria for the Period 2017 – 2021
Summary:
The revision procedures are an expression of the tax-insurance control activity carried out by the revenue administration. Audits and inspections are the two methods by which the tax administration operates and are mechanisms for the implementation of control powers of the National Agency for Taxation. In this article, the authors present an analysis of data on the audit procedures of the National Revenue Agency for the period 2017-2021, through the prism of which the activity of the National Revenue Agency can be presented in terms of implemented tax-insurance control and exercise of the right of appeal by of tax subjects.
-
Victor Avramov
Time Series Analysis of Prices and Quantities at the Bulgarian Electricity Exchange in Conditions of Low Liquidity
Summary:
This article analyzes the time series of prices and quantities on the Bulgarian electricity exchange. The focus is on the period between January 2016 and June with the assumption that in this initial period for its operation, the stock exchange trade is not sufficiently liquid. Statistical tests and seasonal decomposition of quantities and prices are made. This allows the determination of their statistical properties. The analysis shows that both time series are characterized by mean reversion and have a weekly seasonality.
-
Elka Lubomirova Atanasova
Analysis of Income as a „Generation of Income“ Account Component
Summary:
„Generation of income" account contains information on value added components: compensation of employees, taxes on production and imports, subsidies, gross operating surplus, gross mixed income. It complements the information of "Production" account, allowing analysis of the level of wages in sectors and industries of the economy. Data from this account allow committing the income from productive activity to the results achieved by sectors and economic activities. This article provides an analysis of the statistical information contained in the "Generation of income" account for the period 2000-2012, to identify the formation macroeconomic trends.
-
Jana Todorova Rangelova, Galina Rumenova Petrova, Darina Ivanova Kerekovska – Yordanova
Analysis of the Elements of Organisational Culture of “Multiprofile Hospital for Active Treatment – Veliki Preslav”
Summary:
The article is presenting a survey on the organisational culture elements in “Veliki Preslav” MHAT. The information is gathered from employees of the healthcare institution through questionnaires. The prevalent opinion is of strong organisational culture which creates and develops generally accepted behaviour values and norms. The organisation has established values such as personal responsibility, cohesiveness and teamwork. Each of these, separately and together, is particularly important in a healthcare institution where the work process depends on many people organised in teams.
-
Nikola Yankov
An Analysis of the Relation Talent – Talentism – Strategies
Summary:
A trend which could change the accents put on different systems development is overviewed in this article. It is connected with the transition toward a new age which is marked as „human”.
The awareness about the evolutionary transition caeteris paribus is a condition for preventing the „future shocks” and to make it more manageable and smooth. No matter what is the type of the countries – developed or in a process of development - they face very serious crisis. It is connected with the lack of talented specialists. That phenomenon decreases their productivity as the achievement an intelligent economic growth. The talantism and the talent relation are both discussed. Some of the most important problems of the tarantism are listed.
-
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.
-
Petar Ilkov Peshev, Ivaylo Donchev Beev
Analysis of the Proportional Tax System in Bulgaria
Summary:
Proportional taxation with a single tax rate and the low tax rate policy intended to lower the shadow economy, increase tax revenues due the larger tax base, but also aimed to attract local and foreign investments, improving the employment situation, and finally to stimulate Bulgarian economy in the EU convergence process. Nearly a decade later empirical data allows an objective analysis of the pros and cons of tax cuts introduced in 2007 and 2008. This paper aims to provoke discussion on low tax policy implemented in in 2007 and 2008 and to analyze its suitableness and eventually to provoke a tax policy amendment debate.
-
Galya Asenova Kusheva
Analysis of the Development of Tourism Regions in Bulgaria
Summary:
This article makes a comparison between the principles of zoning of Bulgaria for statistical purposes and the requirements and criteria set out in the Concept of tourism zoning of the country, established in 2015. Conclusions are drawn about the degree of balance between regions, the current trends in tourism development in the newly-formed tourism regions for the period 2010-2013 are tracked and a factor analysis of the change in revenues from nights spent is made. The basic factors stimulating and hindering tourism development are identified for each of the tourism regions.
-
Artem Valeriiovych Ivanov
Analysis of Differences in the Systems of Anti-Monopoly and Regulatory Policies of States
Summary:
The article analyzes the term "competition" and perception of this notion given by various prominent economists. The evolution of understanding of the concept of "competitive market" has been considered. The article identifies the differences between the activities of anti-monopoly committees in countries such as the United States of America, the United Kingdom, Japan, Germany, Spain, and France. Particular attention was paid to the development of the legislative framework in these countries. The comparative characteristics of the responsibility areas of the antitrust agencies in the European Union and the United States of America has been provided. The study established that antitrust policy in the European Union is more liberal.
-
Mariela Dimitrova
Analysis of Controversial Issues in the Appeal of Tax Revision Acts in the Context of Judicial Practice
Summary:
This publication is based on a legal analysis of some controversial issues in tax practice, which are successfully applied and clarify the tax matter of business entities. Revision acts are the first phase of tax proceedings, which trigger the active behavior of both the tax administration, which is decisive in the said proceedings, and the economic entity, whose right to appeal the act is a guaranteed constitutional principle.
-
Branimira Assenova Koleva
Analytical Procedures as a Means of Optimising Auditing
Summary:
Audit literature provides many definitions of the nature of an audit. In general, they all boil down to focusing on audit outcomes, namely, establishing that financial statements comply with accounting standards. An audit is an independent examination, and an auditor assumes responsibility for expressing a true and fair opinion on financial statements for the public benefit. Achieving high-quality audits requires collecting and evaluating objectively the evidence obtained for economic actions and events. However, an auditor has a limited amount of time to process large volumes of information, so in terms of quality and time, their work can be optimized through analytical procedures.
According to the International Standards on Auditing, an audit involves analytical procedures throughout the process. Analytical procedures evaluate financial information through analysis of plausible relationships among both financial and non-financial data. The aim is to obtain quality audit evidence in a more timely and cost-effective manner. Applying analytical procedures reduces audit work and improves its efficiency. They are essential for risk assessment in both planning and fraud and error detection. The proper application of analytical procedures is a prerequisite for carrying out a quality audit and taking an adequate audit decision regarding management’s assertions in the financial statements. It is, therefore, necessary to maintain the professional qualification of independent auditors, not only as hours and types of seminars of auditors’ own choice, but also to make them mandatory in terms of regulations, which need to be amended accordingly. I believe that attending seminars is not sufficient to enhance an auditor’s expert knowledge. It would be good to pass a test each year as some form of verification to confirm the knowledge acquired.
-
William Barnett Ii, Walter E. Block
The Antimathematicality of Demand Curves
Summary:
Mathematics has proven so helpful in the physical sciences such as physics that it has been improperly applied to economics. The dismal science studies purposeful human action, while purpose in the hard sciences is properly dismissed as anthropomorphic. The present paper takes the demand curve as a case in point. It demonstrates that this tool of analysis is fundamentally flawed in that it violates its own economic assumption of ceteris paribus, and also the mathematical requirement that only the proper number of variables may vary along a given graph in two-dimensional space.
-
Emiliyan Tananeev, Pepa Stoykova
Aspects of the Forged Documents in the Tax Process
Summary:
In modern times documentation applies for various purposes in public life. All the facts and circumstances relevant to the tax process can be proved on the basis of the document. Development of technologies of communication leads to a change in the way of fixing, storage, handling and use of data. Varied are the opportunities for manipulation of the information contained in the documents that are relevant for taxation of taxpayers. This requires the controls to be directed as to the nature and content of the documents and to the specifics of forged documents. To curb tax evasion it is appropriate to define the prerequisites and conditions that are conducive to improper documentation. Revenue authorities have a duty to identify the specific dimensions of the consequences of a criminal creation, use, concealment or destruction of documents.
The article discusses the possibilities for control of counterfeit documents as shall be established: the nature of the document, its contents and characteristics of forged documents involved in the tax process.
-
Mariana Georgieva
Some Aspects of Credit Policy of Banks in Bulgaria in the Current Economic Crisis
Summary:
Credit is one of the oldest, but also one of the most complex business functions of commercial banks, which largely determines the social status of these institutions. Lately, lending is seen as a 'package' of banking services. Meanwhile numerous and complex social relations occur during the credit transactions.
-
Kiril Uzunov
Aspects of Forensic Archaeology
Summary:
This paper explores the aspects of Forensic Archaeology. The reader is familiarized with the definitions of terms needed for the thorough exploration of the question. Terms such as archaeology, forensic, forensic archaeology, and field archaeology have been considered. Furthermore, three archaeological techniques are explored in detail, with focus on their origins, equipment and adaptations, when introduced in a forensic context. A discussion on the relationship between the disciplines of forensic archaeology and anthropology is also provided preceding the assessment of the limitations of combining the two disciplines in one person’s career.
-
Ventsislav Perkov
Barriers in Implementing Reverse Logistics in Bulgaria
Summary:
The present paper attempts to identify the main barriers in implementing reverse logistics in Bulgarian manufacturing and commercial enterprises. After the theoretical literature review, nine barriers are displayed. Based on a survey, the barriers are ranked according to respondents’ opinions. Barriers in implementing reverse logistics and the degree of importance of its implementation in enterprises are submitted by means of two-dimensional distribution. The next stage of analysis is connected with the study of relationship and direction of influence among the variables. The results show that the reverse logistics is essential for the implementation of more environmentally friendly manufacturing and trade but barriers are relatively irresistible. The reasons for this have their roots in the government policy and non-engagement of managers to problems that can be solved through reverse logistics.
-
Teodora Petrova, Zhivo Petrov
Unmanned Aircraft Vehicles - Part of Robotic Platforms in Agriculture
Summary:
The scientific and technological changes that have occurred are leading to a transformation in the operations and business processes of the agricultural industries. When using unmanned aerial vehicles in modern agricultural technologies, it is necessary to improve their functions such as search, recognition and manipulation-robotic actions. This paper examines the cost-effectiveness issues of aerial photography using unmanned aerial vehicles with low-end photographic systems.
-
Daniela Sotirova
Business Ethics and Economic Citizenship
Summary:
-
-
Daniela Sotirova
Business Ethics and Crisis
Summary:
A transformation of business ethics discourse in modern-day global crises is discussed in this paper. A new conceptual framework and a different intellectual atmosphere for public ethical discourse have been originated. The main question is of changing perspectives to understand ethical issues in business. The problem requires a broad understanding of business ethics as a systematic handling the values in business. Ethics as a critical discipline /i.e. it makes use of critical analysis/ becomes an important perspective of ethical thinking in a situation of global crisis. Analyses and conclusions are based on methods typical for any interdisciplinary applied-oriented study in humanities: interpretation of viewpoints and texts of public leaders in economics, crisis and ethics; comparative and content analyses of social facts and sociological data are used in consideration.
-
Elena Ralinska
The Bussiness Model of the Peer-To- Peer Lending Platforms
Summary:
Peer-to- peer lending platforms as alternative of the conventional bank loan are analyzed in the current paper and in this context; we try to identify their essential features, similarities with and distinctions from traditional channels, advantages and disadvantages, problems and opportunities as well as future trends in their development. In our view, peer-to-peer lending platforms provide a valid alternative of financing, not a substitute for, but rather a complementary traditional banking model.
-
Lyuben Kirev
The Business and Innovations
Summary:
-
-
Gergana Kurtakova
Bulgarians in London: Motivations, Life Plans, Social Contacts and Identity
Summary:
This article presents cases of Bulgarian migrants residing in London and analyses them from the theoretical perspective of transnationalism in migration studies. The main research questions are: what are the motives for emigration, the sources of support in the local context, the challenges of forming a new identity and the life plans of the representatives of the Bulgarian community in the English capital. The in-depth interviews (conducted between the end of 2020 and the summer of 2021) are part of an empirical study conducted for a dissertation on "Transnationalism and Social Networks".
-
Hristo Dochev
Bulgaria - a Part of Fifth Enlargement of EU. The EU Constitution
Summary:
-
-
Emiliya Vacheva
Bulgarian Land and its Natural Resources – Late 12th Century – 14th Century
Summary:
The author of this article has made an attempt to reveal how the Bulgarian state and its natural resources have been described in West European sources of information during the period from the late 12th century to the 14th century. In order to achieve the aim of the article the West European sources of information published in Bulgaria have been analyzed and systematized, incl. chronicles, stories, travelogues, cosmographic maps, reports, maps, portolans, etc. They reveal the impressions and knowledge of western annalists and chroniclers on the borders of the Bulgarian state and its natural resources. They also show that Bulgarians and their land occupy a worthy place in the works of western authors.
-
Nikola Zhivkov
Bulgarian Political Culture
Summary:
Through the fundamental theoretical understanding of political culture written by Gabriel Almond and Sidney Verba, we explain its essence, structural components and public mission. In this article, we are reviewing the creation and development of Bulgarian political culture throughout its history. This understanding is based on its social role - the political socialization of citizens and their beliefs. To solve this task, we defended the thesis of creating an active network for civil education and civil culture.
-
Michael Edelstein, Robert Wenzel, Bridgette Salcido
A Response to Walter Block’s “Free Will, Determinism, Libertarianism and Austrian Economics”
Summary:
The authors respond to Walter Block’s essay: “Free Will, Determinism, Libertarianism and Austrian economics.” Block’s thesis that human behavior is governed by Free Will and naysayers cannot be classified as libertarians is disputed. Counterarguments include the observation that humans are not exempt from the causality principle and Spencer, Mises, and Hayek are determinists.
-
Walter E. Block
A Response to Brooks' Support of Demsetz on the Coase Theorem
Summary:
Coase (1960) claimed that in the zero costs world, it would not matter for the allocation of resources which of two disputants were awarded the relevant property rights. Block (1977) disputed this, on the ground that it assumed that both parties would have the wherewithal with which to make the relevant bribe. Demsetz (1977) maintained that Block (1977) failed to reckon with Coase‘s (1960) explicit assumption of no wealth effects. Block (1995) disputed this claim of Demsetz‘s (1977), claiming the Coase (1960) anticipated no such thing. The next round in this debate was Demsetz (1997) who reiterated his position, followed by Block (2000) in a response to Demsetz (1997). Brook (2007) mostly takes Demsetz‘s (1977, 1997) side of this ongoing discussion. The present paper is a rejoinder to Brook (2007), supporting Block (1997, 1995, 2000).
-
Atanas Damyanov, Margarita Marinova
In Search of Ideas for Development of the New Workforce
Summary:
The research consists two parts.
The first part reviews in a nutshell the civilizational and religious factor and the extent to which ensures direct and indirect prerequisites for development of the human potential. In the second part the emphasis is put on Generation „Y” which is the new workforce and differs markedly from the preceding generations.
A proposal for creation of academic talent incubators is put forth. The paper also provides a review of the possibilities for integration of creativity in the intangible corporate assets.
-
Presiana Nenkova, Angel Angelov
Vertical Fiscal Imbalance in Bulgaria in the Period 2003-2017
Summary:
The aim of the study is to present the evolution of vertical fiscal imbalance in Bulgaria, considering the contribution of revenue decentralization and expenditure decentralization as well as local governments’ revenue effort. With this respect we first reviewed and discussed the indicators of vertical fiscal imbalance applied. We than performed an assessment of vertical fiscal imbalance in Bulgaria during the period 2003-2017 in order to reflect the impact of its determinants. The results demonstrate that the vertical fiscal imbalance in Bulgaria has been generally narrowing. Regardless of that, the fiscal imbalance remains considerably large in comparison with the imbalances between expenditure and revenue assignment in public sectors of other EU countries.
-
Tsvetan Iliev
The Bulgarian Higher Education and the Economic Determinants of XXI Century
Summary:
The present treatment goes into some of the main changes which occur in economy in the conditions of globalization and their influence over the system of higher education. The higher education is taken in as a complex which has the leading role for increasing the quality of human capital.
Investigated problem is interpreted on two levels. In the first place, object of analysis is the determinant function of the global changes in economy with regard to system of higher education. On the second place it studies the changes inside the system of higher education in the context of globalization.
-
Ivaylo Stoyanov
Power and Behaviour of the Human Factor in Management
Summary:
The study analyses power as an instrument of behavioral influence in management. It outlines the basic concepts of power, its types and forms. The main characteristics of decentralization and delegation of authority are also discussed. The determinants of power relations in management are adapted and further studied so that power can be diagnosed rationally. Power is an indispensable element of management process and affects the subject and object of the process realization. It gives senior managers the right to make management decisions and give orders in organizations.
-
Stefka Masaldzhiyska
Influence of Emotional Intelligence on Job Performance of Managers in Business Organizations
Summary:
In recent years, emotional intelligence has become exclusively popular. Research related to it has increased significantly. More and more representatives of the management realize its important role and significance for organizational success. This article reveals the essence of emotional intelligence - first, by drawing out a number of the many definitions that characterize it and second, by presenting the most established models of emotional intelligence until now. The theoretical models describe emotional intelligence and distinguish it from classical intelligence. The main objective of the article is to present and argues the influence of emotional intelligence on the behavior of managers in business organizations and hence on their job performance.
-
Lilyana Kamburova
The Impact of IFSR 16 Leases on The Financial Position Ratios and Company Valuation
Summary:
IFRS 16 represents the most significant change in accounting for leases. The new regulations will affect companies in all sectors of the economy that apply IFRS, but especially those that use high-value assets primarily through operating leases until the new rules were introduced. This change will lead to a significant increase in both reported assets and reported liabilities, which in turn will change some of the key financial indicators for profitability, solvency, liquidity and turnover. The degree of change will depend entirely on the intensity of the use of operating leases in the individual entities. The new rules may also change the estimates investors make for the cost of a debt, the weighted average cost of capital and, respectively, the corporate valuation.
-
Petar Petrov
Influence of Organizational Changes on Attitudes Towards Human Resource Management Activities
Summary:
Each organization is subject to various changes. These changes exert influence in different directions. In the field of human resources management, employees' attitudes are essential for the success of the implemented HR activities. The purpose of this paper is to study the impact of organizational changes on attitudes towards human resource management activities. On this basis, recommendations are made for the successful management of this interaction and for achieving positive effects for the organization, both in the implementation of HRM activities and in the implementation of organizational changes.
-
Velichka Nikolova
The Impact of Interest Rate Changes on Bulgaria’s Government Debt for the Period 2003-2018
Summary:
This article emphasizes on the impact of interest rate changes on government debt. For this purpose, theoretical and empirical studies are initially systematized with the main focus being placed on the change of government debt in terms of continuously decreasing interest rates. The main trends in the change of government debt, interest payments, the real GDP growth rates and the interest rates for long-term government bonds in Bulgaria are also analyzed. The econometric analysis of the relationship between interest rates and government debt is applied including tests for long and short run causal relationship among variables. When comparing the results obtained for the degree of impact of interest rates and economic growth on debt, it is concluded that interest rates have a statistically significant but weak effect on government debt. There is much stronger (positive and statistically significant) effect of economic growth on debt, as opposed to the effect of interest rates.
-
Nikolay Stoenchev
Influence of Employment on the Birth Rate in Bulgaria
Summary:
The present article presents the results of a study of the factor determination of the birth rate in Bulgaria by areas of the level of employment and unemployment. International experience in this type of research is summarized. The results for Bulgaria show the presence of a positive correlation between employment and the birth rate, which is moderately strong and more pronounced for men. The unemployment rate has a negative effect on the birth rate. The strength of the relationship is moderate and is more pronounced in men. Based on previous studies, which proved significant differences in the influence of agricultural and non-agricultural labor on the birth rate, we have calculated a specialization coefficient of the territory in relation to the Agriculture, Forestry and Fisheries sector. The correlation coefficient between the specialization coefficient of the territory and the birth rate by district is moderately high and positive, which proves the existence of a significant relationship. The results confirm the thesis of a positive relationship between employment and birth rate.
-
Atanas Atanasov
The Influence of Financial Misuses on the State of Bulgarian Capital Market, and some Possibilities for Counteraction
Summary:
In the article are examine economical preconditions for the beginning, the negative influence, the normative regulate of the essence and the opportunities for counteraction of financial misuses on capital market in our country. There are made analyze of the state on market environment, in which can to manifestation similar illegal acts and are show up some directions for impede realization of them.
In the article are outline the specialties and the scopes of preventive measures, the role, the place and importance of them for the national economics.
-
Milko Palangurski
The Military Strategy and Potential of Russia through the Eyes of the Bulgarian Army
Summary:
During the first few months of World War One the Bulgarian military and political leadership began watching closely the mobilization possibilities and Russia’s participation in the war. This was done by a military attaché, and by the means of military and civil secret services. Being well informed of Russia’s approach, the Bulgarian services predicted that in the next 48 months the country would either win the war, or a serious conflict would follow. These predictions helped Bulgaria maintain neutrality for more than a year.
-
Irena Emilova
The Relation Manager and Subordinate - Basic Assumptions
Summary:
The article examine analogy with basic assumptions of interaction model toward relation manager-his subordinates. We explain symbiotic interaction between them, systematically blockage on mutually needs and availability of the forces of change. The demonstrations of these assumptions have diagnostically value for managerial process.
-
Plamen Pytev, Elena Marinova
The Link Between Credit Default Swaps and Stock Markets in Central and Eastern Europe
Summary:
Our study aims at testing whether there is long-run relationship between the CDS and stock markets in seven countries of Eastern Europe. First, we define specifics of the seven CEE stock markets and CDS spreads. We have found that they show different performance characteristics – stock markets present very different performance while the volatility has been very close. Next, we try to estimate the presence of co-integration among the stock markets on the one side and CDS spread on the other. The results show that both stock market indices and CDS spread are not stationary at levels but are stationary at first difference and they are first-order integrated I(1) for all countries. Next, we apply Granger causality test for short-run relationship and our results show for Russia and Poland that the index return is Granger causing the change in CDS spread, the variance in the CDS explained by the index is 40% and 31% respectively. In the case of Hungary, Bulgaria and Romania, where the change in the CDS spread is Granger Causing change in stock market index, the variance in the index explained by the CDS spread is 36%, 11% and 27% respectively.
-
Valentin Milinov, Nigohos Kanaryan
Investigation of Risk-volume Tradeoff of the Most Liquid Bulgarian Equities
Summary:
-
-
Metody Kanev
In the Focus - University Activity. Reference Point - the Market
Summary:
-
-
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.
-
Ivan Angelov
Impact of Industry 4.0 on the Foreign Direct Investment Attraction Factors
Summary:
The tendency towards increasing digitalization, automation and robotics in numeral branches of the economy reflects on different aspects of the international business affairs. The paper examines the impact of the upcoming fourth industrial revolution on the foreign direct investment (FDI) attraction and realization processes. It studies the specific features of Industry 4.0, stressing their importance for the stakeholders in FDI.
The main problem examined in the article is the shifting of the key FDI attraction factors that is expected due to the industrial revolution. The analysis of the FDI attraction factors amendment finds that we can expect changes in the behaviour and priorities of FDI stakeholders, but not a decrease in the international capital flows.
-
Mihal Stoyanov
Impact of the Covid-19 Pandemic on the Retail Trade in Bulgaria
Summary:
This paper reviews the reaction of retail trade in the Republic of Bulgaria and around the world as a consequence of the declaration of a state of emergency related to the spread of COVID-19 virus infection. The actions of the trade operators regarding the various changes in the behavior of the consumers and the establishment of standards for work are systematized, in accordance with the measures for anti-epidemic control taken by the local and national bodies, the recommendations of the European Commission and the World Health Organization. The unpredictable development of the global epidemiological situation has brought new challenges to address the emergency situation and to create standards and protocols for working under conditions of increased requirements for social distance, hygiene and disinfection. The established measures put retailers in the first line of protection in the unprecedented health crisis of our time.
-
Nesrin Uzun
Impact of the Global Financial Crisis on Housing in Bulgaria
Summary:
Negative effects of the global financial crisis is still not fully overcome in the world and the economies of individual countries continue to implement various measures to eliminate their effect. One of the most crisis-hit sectors of the economy proved to be construction and directly related to it real estate market. This article aims to make a critical analysis of the status and trends in the "construction", with an emphasis on housing during the 2008-2013 period. In order to thoroughly investigate the problem, the article will consider the state of the mortgage market in Bulgaria and opportunities for bank financing of construction enterprises (through direct funding and realisation of finished products - by financing customers in the form of housing loans) and their relation to the development of the construction sector in the country.
-
Plamen Milev
Opportunities for Building Computer Information Systems in Municipalities Using Dynamic Document Management
Summary:
The article deals with the structural differences of the documents in municipal administrations of Bulgaria. These documents are official forms that contain specific facts and information specified by the law. In this sense, each municipal administration works with documents using its own structure described in existing state and municipal regulations. Under the structure of the document in the article we understand a list of attributes of a given document and its specific meaning in terms of this document. In terms of municipal documents, the structure of the different forms does not change during the calendar year, but in many cases this structure differs for each subsequent calendar year. Therefore, this article focuses on the use of software methodology for dynamic document management in databases of municipal computer information systems of the local administration of the Republic of Bulgaria. For this purpose we consider the use of five software methods – software method for defining documents, software method for presenting documents in the form of metadata, software method for saving documents presented as metadata, software method of storing documents in the form of metadata, software method for retrieving documents stored as metadata.
-
Svetoslav Iliychovski
Possibilities for Determination of the Liquidation Value
Summary:
Currently, the global and national economies are experiencing an increase in the level of uncertainty, which is remarkable especially in the markets for the most traded assets. This, in turn, affects the activities of companies in terms of prices, demand and supply of specific resources, which makes it difficult to correctly determine the value of enterprises. Evaluation plays a crucial role in balancing the interests of all stakeholders at such a time. In many cases, the appraisers face the task in practice to derive, determine a value different from the market - liquidation, investment and others. In the present study we focus on the possibilities for determining the liquidation value.
-
Pavel Valeriev Dimitrov
Possibilities for Optimizing the Technical Reserves Related to Motor Third Party Liability Insurance
Summary:
In recent years, Motor Third Party Liability insurance has been leading in terms of premium income earned on the Bulgarian insurance market. This requires the creation of significant amount of technical reserves by insurers. Optimizing their size is a priority for any insurance company.
The article describes some problems related to the implementation of the Motor Third Party Liability Insurance in Bulgaria. The main problems in this connection come from existing regulations within the country. The article also proposes possible solutions for optimizing the amount of technical reserves such as: introduction of the Bonus - Malus system; on-line sale of the insurance policy; eliminating the requirement to stick a holographic sticker on the vehicle glass.
-
Yordanka Mitkova Iliykova
Opportunities for Optimizing Accounting and Analysis of Costs, Relating to Buffet Restaurants of Hotels
Summary:
A problem in the hotels that provide the "buffet" service, the price of which is included in that for overnight stay in the room, is the accounting and the effective control of the full use of the allowances groceries in finished kitchen products. Keeping track of changes in the prices of supplying goods at the height of the tourist season („Food and Beverage Cost Control“), the calculation of so-called "Food Costs for Day" and "Beverage Costs for Day", and frequent inventory inventories to excample date, relation to accurate and true cost accounting for a certain period, are objectively necessary.
-
Katya Kirilova
Opportunity to Assess the Economic Efficiency of Investment in Information Technology in Local Governments
Summary:
Bulgaria is in the development stage, where significant investments are needed in order to create and use appropriate electronic government. Part of the idea of building an e-government is related to the scope of services that municipalities provide. For these reasons it is important from a theoretical and practical standpoint to clarify whether the factors for creating functional e-local government are properly defined. For this purpose, in the paper we use a survey for the level of information systems and technologies in municipalities and on that basis we determine some opportunities for building online services in local administrations. Some characteristics are considered in the development of information systems for the needs of the local administration. We present the processes of awareness of the information need, definition of information problem, definition of the purpose and scope of the system, development of task specification, evaluation of economic efficiency, and implementation of the system. On this basis, the possibilities are derived to assess the economic efficiency of investments in information technologies and software in the municipal administration. Finally, conclusions are formulated.
-
Bozhidar Bozhinov
Possibilities to Evaluate the Sustainability of the Banks in Bulgaria using a Rating System ALER(TS)
Summary:
As the global financial crisis of 2007 shows, the modern banks are crucial for the stability of the financial sector and the economy as a whole. The study aims to present to academics and banking professionals the developed methodology of the evaluation system for sustainable development of the banking sector ALER(TS) and assess the extent of its applicability based on real data analysis. The study argues that an independent and open-rating system to evaluating the banking sector contributes to increase its stability and competitiveness.
-
Branimira Assenova Koleva
Opportunities for Effective Cash Flow Audit
Summary:
Performing an independent financial audit is not an easy task - it is an ethic commitment for the auditor that must be performed with a due care both to the client and to the community. The present work is aimed at supporting the work of auditors by providing theoretical knowledge and illustrative examples on the verification of cash. Determining the actual amount of cash is a high-risk audit assignment. Therefore, the confirmation of cash is a large-scale and comprehensive procedure, which requires more attention. The paper discusses the issues, techniques, and procedures the auditor can apply to get the most credible evidence of quantity and ownership of cash.
-
Lyubomira Todorova
Opportunities to Increase the Attractiveness of Tourist Destination Bulgaria
Summary:
As a tourist destination, Bulgaria is a country with exceptional opportunities to provide a variety of different types of tourism. Besides the traditional forms - sea and mountain - ski tourism, it offers many alternative forms including: eco, rural, health, spa, wellness, cultural, adventure, wine, gourmet, event, hunting, camping, yacht, golf and congress tourism. Thanks to this, the country has a number of opportunities to develop its potential in the most rational way possible. Increasing the attractiveness of the destination could be achieved through a more appropriate use of the natural and anthropogenic resources available to it, while at the same time focusing on the regions with tourism potential and the opportunities they offer for the development of specialized forms of tourism.
This article aims to present the opportunities for increasing the attractiveness of a tourist destination Bulgaria by examining the elements that determine the attractiveness of the country in general and on major tourist markets as well as by carrying out a SWOT analysis of the destination.
-
Mihail Mihaylov, Margarita Gergova, Kiril Mitov, Rositsa Koleva, Lyudmila Doncheva, Krasimir Kulchev, Bilyu Bilev
Ideas for Improving the Organization of Training Students in Business Analysis
Summary:
The essay offers ideas for improving the organization of training students in Business Analysis. It outlines the modern trends in the education process and shows approved practices with their importance for stimulating students' individual work. The emphasis is on the use of innovation technologies and teaching aids.
-
Yordan Yordanov
Opportunities for Improving Social Policy on Energy Poverty in Bulgaria in the Context of the Transition to a Green Economy
Summary:
Energy poverty is one of the significant contemporary challenges, and its containment and control policies are one of the main objectives of the European community on its path to a green economy. More than 96 million Europeans are at risk of poverty and social exclusion, while 57 million cannot heat their homes in winter. Bulgaria is the country with the highest share of the poor and at risk of poverty, including energy-dependent households, which is also confirmed by the values of the Energy Poverty Index, by which our country has the worst indicators among EU Member States.
This development draws attention to the specificities of energy poverty, seen against the background of a generally accepted understanding of social poverty, the possibilities of changing the model for determining the range of energy poor persons and households in Bulgaria and the removal of a set of proposals to limit and control energy poverty, building on passive targeted energy support for heating and perceived as a direction for the development and improvement of social policy in the field of social assistance in Bulgaria.
-
Galina Chipriyanova
Possibilities of Improving the Accounting of Provisions in Companies with Constuction Activity
Summary:
The article examined issues concerning the nature of the provision as a reporting category, the methodology for measuring the value of provisions and the improvement of their accounting. With specific examples of the practice are represented regulated in IAS 37 / AS 37 Provisions, Contingent Obligations and Contingent Assets cases of provisioning: the removal of hidden defects (construction defects respectively), which of hidden becoming actually in the process of exploitation, environmental restoration; restructuring of the company. Proposed are three methods for determining the amount of the provision as the case of the accounting of the costs for provisions in companies with construction activity.
-
Valentin Milinov, Daniel Danchev
Opportunities for Financial Stimulation through The BDB of Investment Activity with Moderate Investment Risk
Summary:
The investment activity of SMEs is the main priority of every government in Bulgaria. The coming recession is testing the activity of all economic agents and for this purpose the preferential financial stimulation of the state through the BDB will encourage their entrepreneurship and investment activity, which are directly related to the improvement of management qualifications and the possibility of underestimating the investment risk. This will ensure the improvement of the financial stability of the economy in the conditions of a dynamically changing competitive market environment.
-
Michal Stoyanov
Opportunities to E-commerce in Times of Economic Crisis
Summary:
In the global economic crisis, the challenge of electronic commerce creates great potential to reap the benefits of economic agents by making an online purchase. Ecommerce with its advantages and disadvantages, creating an alternative model of shopping for all the economic actors in the information society in each stage of the cycle.
The practical focus of the study consists in comparing the two applied by leading companies worldwide commercial technologies, achieved major effects of their operations and derive recommendations for improving their competitive position in the digital market.
-
Georgi Georgiev
Genesis of Concepts of Deflation from the Classical to the Neo-Classical Economic Schools
Summary:
The current study is devoted to deflation, which is a significantly less analyzed problem in modern economic theory. The interest to this topic is prompted by the increasing probability of deflationary episodes, due to the periods of recession and depression observed in recent years almost all around the world. The main thesis of the article is that analyzing the origin and genesis of the concepts that explation deflation during the mentioned period has the potential to increase effectiveness in managing future deflationary processes. The aim of the study is to present a comparative analysis of some of the first systematic economic studies – from the birth of economic science to the period of the Keynesian revolution. This is done to achieve a more accurate and complete understanding of the economic interpretations of deflation over time, as well as the reasons that led to it and the consequences of the process.
-
Vanya Grigorova
Genesis of Modern Marketing Networks
Summary:
In modern economic practice as a natural result of a number of public and market processes emerge groupings of organizations with a common strategic objective, referred to as "networks". This form is a phenomenon with a complex manifestation and it is studied by a number of theories relating to networks - field of economics, which is still developing. So the motives of this study are several: to track groups of factors (etymological, philosophical and economic) that lead to the emergence of networks to clarify their inherent characteristics, to reveal the specifics of their manifestation in the marketing field and in result to enrich modern marketing paradigm to be able to develop new scientific approaches to building and managing marketing networks in Bulgaria.
-
Plamen Lyubomirov Dzhaparov
Generative Artificial Intelligence and the Potential Benefits for Banks
Summary:
There is no doubt that the emergence of ChatGPT in November 2022 has become one of the most significant technological events in recent decades. The new-generation chat platform developed by OpenAI has caused a veritable "tsunami" of interest in its underlying Generative Artificial Intelligence (Gen AI). Business organizations in all economic areas are dramatically increasing their investments in this new technology and launching pilot projects testing its capabilities. Banks are no exception to this trend. With the vast amounts of data at their disposal and ever-increasing user demands, they are quickly realizing that Gen AI promises numerous benefits both concerning customer service and in terms of internal banking processes and operations.
This paper examines the characteristics of generative artificial intelligence by comparing it with traditional AI models that have been used in banks. The main factors that make banking the perfect place for the application of the new technology are brought out. Based on this, the analysis focuses on surveying the many potential benefits of its implementation – from improving customer experiences, through better risk management, to optimizing the work of back-office employees and developers.
-
Fouad Shehab
Globalization and the Impoverishment of the Third World
Summary:
This paper traces the historical development of globalization as a process and analyzes the economic and political impact of globalization on poor countries in Asia, Africa and Latin America. The paper discusses the role of the United States of America in driving and leading the globalization process and directing it in a way that enhances American's own interests at the expense of the great majority of world population. The paper attempts to show that globalization is an imposed process on other countries by different means, including economic, political and in certain instances military intervention. In short, the paper attempts to prove that globalization is, in fact, an imperialist process that works against the long-term interests of 80% of world population.
In this respect, it is based on unequal development that resulted in a new world order, whereby one-fifth of world population controls 80% of world natural and industrial resources.
-
Emil Nikolov
Global Reporting Initiative
Summary:
The article explores the most popular and dynamically developing structure for measuring corporate social responsibility, namely, the Global Reporting Initiative. Its first appearance and historical development are herewith scrutinized and investigated. GRI’s main principles and indicators are equally considered. Moreover, based on empirical research in terms of dynamics and territoriality, the article touches upon GRI’s expansion speed. The reasons for the relatively small number of companies in Bulgaria using this particular structure for reporting are also discussed.
-
Ivan Varbanov
Global Human Age and Tolerance
Summary:
The paper examines the effects of interaction between global human age, tolerance and culture. In concise form they are expressed as a decrease in ignorance directly proportional to comparing one’s own knowledge and skills to those of the others, opening towards the potential of those who are different; belonging to the culture of humanity which each individual contributes to; creating an expanding order without boundaries, which is spread through various types of competition, especially through competition of knowledge, traditions and institutions, of talents and skills that adapt themselves to the new cosmopolitan reality.
-
Martin Assa
Civil Society - the Only Barrier to the Ever Increasing Economic Power of Corporations
Summary:
The article is about understanding the basics of a modern society crisis. That is why the latest conceptions of what a civil society is (regional, national and global) and what a corporation is (national and transnational) are introduced. Later, the article examines the relationship between civil society, political power and corporations in the last 20-30 years.
-
Silviya Panteleeva
Flexecurity of Bulgarian Labor Market
Summary:
In the contemporary social and economical conditions, in the European market environment there is a new conception, called “flexecurity”. It is connected with a combination of flexible employment and social security, security of the employment through flexibility of the work. Only with this approach is possible to work European labour market with equivalent positions of its agents, with important role of the social state in determination the problem for an optimal work of the labour market.
-
Ivan Todorov, Alexander Alexandrov
Two Combined Approaches to Estimating Bulgaria’s Cyclical Position and Business Cycle Phase
Summary:
The cyclical position and the business cycle phase of Bulgaria have been estimated using two new approaches, which combine a production function and a Hodrick-Prescott filter. The results obtained following the two approaches are similar and close to the estimates of national, European and international financial institutions. Recommendations have been made on macroeconomic policy, which is consistent with the cyclical position and the business cycle phase.
-
Dimitar Panayotov
Two Options Against Overbalancing
Summary:
Often published anti-crisis measures of institutions, parties and analysts have been criticized for the temporary effect which they offer. This article offers ideas for overbalancing which are relevant without conditions.
-
Yuliia Ishchuk
Drivers of Global Commodity Market Formation
Summary:
The research reviews structural changes taking place in the 21st century, which is an era of shifts in the world economy, occurring under the influence of scientific and technological revolution, specialization and cooperation of industrial production and contributing to qualitative changes in the field of globalization of commodity markets. These processes are imperfect and, due to many shortcomings, require further scientific research.
The purpose of the study is to determine the role of drivers of the global commodity market shaping.
The article investigated the essence of factors of the global commodity market formation and its components. Influence of trade liberalization on formation of global commodity market was determined; the development of information technologies in the field of communications, information processing, transport technologies, as well as vigorous action of multinational companies were analyzed.
-
Metody Kanev
Demographic and Institutional Conditions of Economy
Summary:
In this paper we focus on the impact of demographic dynamics and the social and political relations, respectively on their institutional framework.
-
Mariana Drumeva
Demographic-economic Face of Svishtov at the Beginning of Bulgarian Renaissance
Summary:
The present paper attempts to outline the demographic and economic outlook of the town of Svishtov from ancient times to the beginning of the Bulgarian Revival. The data throwing light on these issues are relatively scarce and can be found in archaeological excavations in the vicinity of the town, in published historical documents, foreign travelogues and in researches on the town of Svishtov and the economic-historical development of Bulgarian lands. The study is a survey and aims to summarize and systematize the present information from historical sources and historical-geographical research on the problems posed. Thus the prerequisites for the increased role of the town during the Revival can be more fully and more precisely explained.
-
Boryana Ilieva Evlogieva
Democracy - a Current Myth
Summary:
The present study is an attempt for a more critical look at the contemporary democracy, if it is reality at all. Public consciousness has built up its image on the ideas since the time of Aristotle up to present days. But the task is to have a look at and analyze the contemporary democracy from a more different position – this of the mythological thinking. The conclusion is that a huge discrepancy between the democracy as an idea, as a theory and the real organization and management of the society, is a fact. The idea has been developed and enriched since ancient times till nowadays, but is still far from its practical realization – something that turns it into a myth.
-
Nikolay Zhivkov
Democracy in the Writings of Venelin Ganev
Summary:
Venelin Ganev’s publications from the beginning of the last century view the requirements to the subjects of the government process for democracy when participating in it. In the mid 40s he presents his complete view of democracy. It is defined as a form of state structure and state government.
-
Nikola Zhivkov, Marieta Zhivkova
The Role of Democracy in Reaching Public Consolidation
Summary:
In this article, we analyzed in historical aspects of the Bulgarian authors related to the formation of the values of democracy. A logical connection with some of them is the analyzed leading goals and principles in the Preamble of the 1991 Constitution. They form the image of constitutional democracy. Based on modern theoretical statements and political practices, the conviction is imposed that, guided by its principles, the political subjects will be able to achieve agreement and consolidation necessary to bring sustainability to the development of society.
-
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.
-
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.
-
Angel Iliev
Didactic Tests - a Modern Measurement Method of Pupil's Achievements in Mathematics
Summary:
Through innovation, modern technologies, training methods for measuring and evaluating student performance it is possible to achieve more efficient and quality learning system by creating conditions for improving the performance of the students. Modernization of education is increasingly necessary in mathematics's education.
-
Violeta Dimitrova
Dynamics of the Competitive Advantages in Commodities’ Commerce
Summary:
-
-
Monika Mihaylova
Discussion Aspects in Models of Dynamic Capabilities
Summary:
This article reviews and systematizes the basic models developed in the literature for operationalizing dynamic capabilities that have a significant impact on the development and understanding of theory, as well as its application in practice. The key discussion aspects are identified and analyzed - the structure of dynamic capabilities, the role of knowledge for their development, the processes of creating dynamic abilities, the impact of the external environment on their formation, development and manifestation, and the role of the manager in their creation and development.
-
Zhelao Vytev
Discussion Questions of Stress Testing in the Modern Bank Practice
Summary:
The present article provides critical analysis of the existing practice for carrying out of stress-test in the banking sector in the country and abroad. It provides good grounds for accentuating on a number of unsolved or discussion issues, concerning: significance of the stress-tests; scope and periodicity of their implementation; identification of the specific risks, with potential negative effects; scenario modelling with specifying key risk parameters (factors), subject of shocking changes; performance of comparative analysis of the methods for implementing stress-tests and outlining of their advantages and disadvantages; specifics of implementation of the so-called „reverse" stress-tests, etc.
-
Galya Vezirova
Differentiated Instruction in English Language Teaching (Level B1)
Summary:
The article examines the possibilities of applying differentiated instruction in intensive English language learning (level B1). The essence of differentiation and the peculiarities when it is used in the educational process are clarified. The principles and elements of differentiated instruction are examined. Emphasis is placed on the possibilities for the application of this philosophy and approaches and strategies are proposed for the full and effective implementation of differentiated learning in intensive English language learning.
-
Mohanad Fayiz Al Dweikat, Majdi Wael Alkababji, Othman Hussein Othman Othman
The Extent to which Jordanian Commercial Banks Rely on Electronic Disclosure of Accounting Information to Rationalize their Credit Decisions in Light of The Corona Crisis
Summary:
This study aims to identify the extent to which Jordanian commercial banks depend on electronic disclosure of accounting information to rationalize their credit decisions in light of the Corona crisis. The study population included all (23) Jordanian commercial banks, and the sample consisted of (81) respondents from credit officials and workers in the credit departments in these banks. The study concluded that Jordanian commercial banks rely on electronic disclosure in the statement of financial position, the income statement, the cash flow list, and the list of shareholders' equity published electronically to rationalize their credit decisions in light of the Corona crisis. The study recommended that Jordanian commercial banks pay more attention to displaying data in the statement of financial position, in which accounting information is disclosed electronically on an accrual basis, and to show the main groups of company accounts and their obligations towards lenders and owners.
-
Violeta Dimitrova
Retail Enterprise Bargain Power
Summary:
The changes in the bargain power of traders are a result from the rising levels of concentration in the retail sector by increasing the area of physical outlets, the concentration of electronic stores and the establishment of retail chains, as well as by accelerating the processes of merging, buying-up, and implementing own brands. Subject of research is the bargain power of retailers at negotiations with suppliers. The concepts ‘market power’ and ‘bargain power’ of retailers as buyers are clarified. A review is made of the theory on the power of retailers within the chain of selling consumer goods. The study is on the changes in the concentration of retail trade in Bulgaria and the bargain power of the latter in negotiations, measured by the level of gross margins.
-
Vanya Ganeva
Domestic Violence Against Women as an Object of Social Work
Summary:
The article deals with domestic violence against women, which in the last decades has been defined as one of the most serious social problems worldwide. The first part of the paper explains the essence of violence and the gender aspects of domestic violence. On a gender approach basis an explanation is sought as to how social relations between men and women in society, fixed via patriarchal order, contribute to the manifestations of tolerance towards domestic violence against women.
The second part of the article explains the specifics of social work against domestic violence against women. Theoretically this type of social work is based on the feminist and anti-oppressive trends developed considerably after the 80s of the 20th century. The practical realization of social work against domestic violence calls for the use of crisis intervention, a good knowledge on the social worker’s part of the experiences and reactions of women – victims of domestic violence, as well as the services which they can use. Besides working with victims, another main point in social work in cases of domestic violence against women must be working with domestic violence offenders, using methods borrowed from psychotherapeutic and consultation practice.
-
Snejina Kadieva
Àdditional Sevices in Hospitality as a Tool for Enhancing Customer Satisfaction
Summary:
The article aims at examining the nature, characteristics and classification of additional services in the hospitality industry. Their role and importance for adding value to the hotel product and increasing customer satisfaction are outlined. Special attention is paid to the modern aspects in offering additional services. The emphasis is on the effect of introducing digital technology on innovation when offering additional services in the modern hospitality business.
-
Silviya Bratoeva Manoleva
Income Inequality in Bulgaria in the Period 1993-2019 – Decomposition by Income Sources
Summary:
Income inequality is a result from an unequal distribution of different types of incomes forming total household income. The aim of the paper is to find which income sources are the main drivers for rising inequality in Bulgaria for the last 25 years by using income inequality decomposition. The results show that wages has the biggest and growing importance for the overall inequality. Most unequal distributed incomes are those from property, but they have an insignificant role for the rising overall inequality because of the small share in total household income. Incomes that mitigate income inequality are the social transfers, but their effect varies depending on the type of transfer.
-
Walter E. Block
Rejoinder to Wysocki on Indifference and the Block-Hoppe Debate
Summary:
There has been an ongoing debate in Austrian economic circles on indifference and methodology. It started with Nozick (1977) who criticized this school of thought on that issue. Block (1980) responded to that essay. The main debaters within Austrian circles have been Block (2009A), Block and Barnett (2010), and Hoppe (2005, 2009). Wysocki (2017) is a recent entry into this discussion. The present paper is a response to this latter contribution.
-
Aleksandar Lichev
The Long-Term Interest Rates for Convergence Purposes as Crises Indicator for the Eurozone
Summary:
The main aim of the survey is to develop critical point of view over the Maastricht convergence criteria for the Euro zone countries and to provide arguments in favor of the acceptance of the long-term interest rate for convergence purposes as a leading, market based indicator of the economic crises. The main subject of the research is the Euro zone, and the main topic respectively – long-term interest rate for convergence purposes within the Euro zone as a convergence criteria with major analytical importance for the process of building reliable prognoses and crises indicators. The structure of the article is divided in two main bodies. Firstly, it is introduce wide critical overview of leading scientific surveys in the area of Maastricht convergence criteria within the crises period (2008–2012) and secondly, applying of econometric analyses of the long-term interest rate for convergence purposes within Eurozone-12 for the purposes of discovering of crises
Indicators. As a result of the research it is proved that for the PIIGS group are available strong, market based evidences for forthcoming economic disturbances provided as a result of regression analyses of long-term interest rate of 10-yers debt securities for convergence purposes.
-
Maya Tsoklinova
Government Redistributive Policies in EU Member States: Comparative Characteristics
Summary:
Fiscal discipline regarding tax revenues and expenditure, stabilization of incomes, promotion of consumption and stimulation of economic activity during the business cycle are essential for achieving macroeconomic stability. Despite the built-in automatic stabilizers and the limit that is set in the EU in terms of government expenditure, they are not a guarantee of achieving similarity in the economic development of individual EU member states and their behaviour, especially during economic crises, as well as in terms of quantity of supply of public goods relevant to public welfare. In addition, each EU member state constructs its economic policy in a way that meets the commonly accepted objectives in the EU. In this sense, government expenditures of the sub-sector “Central Government” are a necessary mechanism for ensuring the sustainability and stability of national economies and are a criterion for achieving the medium and long-term goals in government programs. The main goal of the article is to systematize the EU member states into homogeneous groups (Êëúñòúðs) based on the relative shares of expenditure by functions of the COFOG in GDP, and on this basis to make a comparative analysis of the financing of public goods important to society, which reflects differences in state redistributive policies at EU level. The research hypothesis defended in the present study states that, regardless of the existence of common fiscal rules and policies in the EU, there is a significant difference in the financing of public goods in individual EU member states, which is a prerequisite for different government redistributive policies at the EU level , as well as for the differentiated implementation of the goals set in the “Europe 2020” strategy, related to the generation of intelligent, sustainable and inclusive growth. Non-hierarchical Cluster analysis and more specifically K-means Cluster was used to achieve the research objective.
-
Violeta Blazheva
Evolution of EU Common Agricultural Policy
Summary:
The year 2012 marked fifty years of the EU Common Agricultural Policy – the basis for European integration providing food security and dynamic agriculture for European citizens for five decades. This paper focuses on its evolution and achievements of the reforms carried out. These reforms were designed to provide quality food to citizens at reasonable prices and a decent standard of living for farmers and their objectives are still valid today. Over the years, European agricultural policy has helped to overcome three key stages: leading Europe from scarcity to abundance of food, meeting the new challenges associated with the sustainable use of natural resources, and expanding the role of farmers in rural development. The reform of the EU Common Agricultural Policy aims to strengthen the competitiveness and sustainability of European agriculture and rural development.
-
Ninel Nesheva Kiosseva
Environmental Management and the Impact of Regulation in Bulgaria
Summary:
In placing increased emphasis on good environmental management, the Bulgaria government began providing resources on environmental management, such as guidance documents, case studies, and benchmarking studies. It also motivates businesses to understand the full spectrum of environmental costs and incorporate these costs into decision-making. Some of the difficulties are non-uniform definitions and non-uniform executions, and lack of comparable information. The report discusses the needs for good quality information to be available to both managers and society before further advances can be made.
-
Ruslana Dimitrova
The Online Store – Features in Accounting and Tax Aspects of Activity
Summary:
This paper is an attempt, based on the nature and legal framework of the online store, to define the accounting and taxation issues of its business. For the purpose, the paper discusses the specificities of fiscal reporting of: a domain, a website and online store software products, delivery of goods and their release /signing out/, costs related to commercial activity, advertising, research and affiliate marketing costs, costs for claims and warranties, receipts from sales of goods and new techniques of sales – drop shipping, collective shopping, customers’ cash payments and through e-payment systems. Tax issues related to the online store Value Added Tax charging, tax registration, registration regimen and commercial activity requirements are also briefly systematized.
-
Kremena Marinova
Electronic Identification in the European Union and Bulgaria - Current State, Technological Features and Opportunities for Development
Summary:
Electronic identification is a means of authentication of individuals using electronic services. The successful application of e-Government is inconceivable without the use of a single method for proving the identity of the participants.
The article aims to clarify the nature of electronic identification and to outline its application in the European Union and Bulgaria. The following tasks are solved: the concept of the e-identification has been defined, the main benefits of its implementation have been outlined, the technical specifications of the electronic identification scheme have been examined, the methods of electronic identification in the European Union and Bulgaria have been described. At the end of the article a SWOT analysis is made, comparing the e-identification options used by Bulgarian citizens.
-
Penka Shishmanova
The Electronic Form of Distance Learning – a Modern Approach to Improve Vocational Training
Summary:
The rapid development of modern economies and the dynamic changes in the labour market require continuous updating of the skills of staff. This brings to the fore continuing vocational training as part of the concept of lifelong learning. The electronic form of distance learning is a viable opportunity for maintaining and improvement of the professional skills of staff. Its significance has been growing given the fact that it creates conditions for acquiring new knowledge and skills without discontinuing work and family commitments. As an example of good practice in this respect, we have presented the training in Operational Accounting at the CPT at the Academy of Economics - Svishtov.
-
Aleksandar B. Todorov
Empirical Analysis of the Economic Concentration Within the Largest Bulgarian Companies for the Period 2006-2013
Summary:
The article provides a descriptive analysis of the economic concentration and inequality among the 100 largest companies in the Bulgarian non-financial sector in the period from 2006 to 2013. For this purpose, data used are sales and number of employees provided by the annual ranking Capital 100. Established statistical measures of concentration and disparity are applied to the data: concentration ratio, Herfindahl index and Gini coefficient. The empirical results suggest stabilization of the positions of the 10 largest companies, but at the same time growing importance of companies in the second half, i.e. of these with positions from 51 to 100.
-
Fotin Marchev
The Ethics of Dimitar Mihalchev – Regulator of Human Relations
Summary:
The article analyses the ethical views of Dimitar Mihalchev, a representative of the Bulgarian philosophical ethical thought. Linking the theoretical - philosophical analysis with social reality, D. Mihalchev advocates for „realistic ethics” as a dynamic system of values, pertaining to all mankind.
-
Birstra Nikolova
Ethics in the Field of Higher Education
Summary:
The adoption of modern concepts and opinions related to good governance and corporate social responsibility lead to the normative settlement of ethics in public sector institutions, and in the field of higher education. As a result, ethical behavioral norms have been developed in educational institutions. Due to the increasing requirements in the last years for improving the quality of educational services and research results, ethical issues in the field of higher education are becoming more and more relevant, and integrity is increasingly becoming a prerequisite for the achievement of contemporary goals of educational institutions. This gives grounds for examining the mentioned problems – in theory and practice, both in the country and abroad, with a view to establishing concrete opportunities for development and improvement of the ethical norms in the field of higher education.
-
Valentina Bineva
The Effects of COVID-19 Pandemic and Military Conflict between Russia and Ukraine, Presented in Application of IFRS 9, IFRS 15 and IFRS 16
Summary:
The aim of this study is to perform a summary analysis of the impact of the Covid – 19 pandemics and the military conflict between Russia and Ukraine, in application of IFRS 9 – Financial Instruments, IFRS 15 – Revenue from Contracts with Customers and IFRS 16 – Leases, which is part of a more extensive detailed study of the effect of these extremely significant events on the information in the public reports of a group of tourist enterprises in Bulgaria
The study goes through a commentary on the initial implementation of the standards (first-year implementation) and arrives at a discussion on the changes in their content and manner of implementation that occurred as a result of the above two major events
The analysis shows that the changes as a result of the economic shocks for the world and for Bulgaria as well, as a result of these two exceptional events in their nature and impact, significantly change the picture of the functioning and survival of economic entities in such a stressful environment. The tourism industry is undoubtedly going through a significant challenge trying to survive in such an unfavorable atmosphere.
The development and adaptation of the standards from 2017 (the year before their introduction) to the present moment (the end of 2022) was observed and analyzed in order to get an adequate idea of the effects of the implementation, amendment and addition of IFRS 9, IFRS 15 and IFRS 16, in relation to the Covid – 19 pandemic and the military conflict between Russia and Ukraine.
-
Pavlina Peeva
Effects of the Consumer Positioning of Life Insurance Companies in Bulgaria
Summary:
Life insurance has become a contemporary topic in specialized literature, which is attracting the interest of practitioners and scientists. The life insurance market in most EU countries has been growing over the years. Despite the growth of 600% in 2017, compared to 2003, only 3% of the Bulgarian population owns life insurance, which opposes the European trends. A Western European citizen usually spends 1,188 EUR a month on life insurance products compared to a Bulgarian, who spends an average of 33.4 BGN (about 17 EUR). In this regard, the purpose of this study is to present the effects of consumer attitudes on the demand for life insurance products and on the positioning of life insurance companies in Varna. For this purpose, data were gathered using a questionnaire survey of life insurance in Varna and it was analyzed using descriptive and deductive statistical methods. The results obtained show that the demand for life insurance products is influenced by economic, psychological and socio-demographic factors, and each of these groups has specific effects on the development of life insurance products trade.
-
Ivaylo Donchev Beev, Petar Ilkov Peshev
About Relation "Legal Regulation - Economic Relations"
Summary:
Jurisprudence affirms that "the legal system regulates social relations that are subject of lasting settlement". Economic relations are a kind of public relations and as such are also subject to legal regulation. Therefore, the economic system is premised on the legal device that is stipulated according to the constitution. While classical political economy, introducing the concept of "economic base (substructure)" and "social structure (superstructure)" defines economic relations as basic and in this sense - for defining social relations in the superstructure. In this sense, economic relations trigger other public relations, including the legal system. In other words: Economy set the legal foundations (i.e. legal system). Obviously, there is a contradiction, but if this contradiction is apparent or meaningful (at paradigmatically level)? This contradiction led has provoked the scientific curiosity on the "macro-legal and macro-economic regulation of public relations". The study of this relationship is specified in the proposed study.
-
Margarita Bachvarova
About the Discussional Legal Nature of the Manager's Liability in the Limited Liability Company for Damages
Summary:
This article studies the term management tort as grounds for the involvement of the specific liability of the manager for damages caused to the limited liability company in the commercial law. Theoretical analysis was made in respect of the essence of liability in view of the main division in the legal doctrine – contract and tort by type. Based on the normative analysis and the current court practice, conclusions were drawn in respect of the specific characteristics of the liability which attribute it to the contract by type, but a specific property liability.
-
Nikolay Nenovsky
About the Economic Convergence
Summary:
-
-
Nikolay Zhivkov
On the Principles and the Mission of Democracy
Summary:
-
-
Todor Todorov
On some Imperfections of the Gross Domestic Product Index
Summary:
The gross domestic product is the most widespread macroeconomic index, used for macroeconomic analysis and forecasting of economic growth. Despite all its merits it can hardly be considered a perfect indicator of economic growth and nation’s welfare. One of its disadvantages is that it doesn’t record the effects connected with the exhausting of natural resources or with the negative consequences of environment pollution. In this sense the article offers an algorithm for calculating “green GDP” and “black GDP”.
-
Gergana Nikolova
The Operating Leasing with The Lessee in Conditions of Crisis in The Context of The Applicable Accounting Legislation
Summary:
The accent in this article is put on the operating leasing agreements in the aspect of the applicable accounting legislation in the Republic of |Bulgaria. Overview of accounting aspects in the current accounting and in the reporting of information in the Annual Financial Report, for the tenant, are considered, in case of reducing rental.
-
Nikolay Zhivkov
About Orpheus, Orphism, and Thracian State Arrangement
Summary:
Orphism is presented as a moral and religious system associated with belief in immortality. Leading role in it played the idea of improving the soul, ie the zeal of believers to reach immortality through participation in sermons, hymns and cult-ritual practices. They are grouped in two societies - folks and aristocratic. Through them they participate in the life of state.
-
Ventsislav Vezirov
For pathos of words in the German Cultural History
Summary:
In the cultural history of every country there are situations in which the survival depends on simple things at first sight.
-
Galina Chipriyanova, Niya Marinova
The Role and Significance of Internal Audit in Energy Sector Ånterprises
Summary:
The internal audit in enterprises within the “Energy” sector, where the Bulgarian state is the principal, is an essential mechanism for ensuring transparency, accountability and efficiency in the management of state resources. This study aims to assess the effectiveness of internal control systems and provide an overview of audit activities, results and recommendations for improvement. To achieve this goal, the following tasks are addressed: 1) examining the scope and significance of internal audit in enterprises within the “Energy” sector, 2) analyzing the strategic and annual audit plans, developed based on risk assessment and the priorities of these enterprises; 3) attempting to identify the audit universe, including defining and classifying all areas subject to audit; 4) paying particular attention to the audit strategy (the approach to conducting audit activities) and the distribution of audit personnel in the context of optimal allocation of audit resources. The research defends the thesis that internal audit supports the sustainable development and efficiency of the energy sector by strengthening public trust in institutions and ensuring the good management of public resources.
-
Valentin Milinov
On the Characteristics and Evolution of Monetary Policy
Summary:
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.
-
Dimitar Trendafilov
Legislation On Ensuring Fair Competition in Trademarks
Summary:
The purpose of developing trademarks as a tool in economic activity and in marketing practice, in particular, is to establish a distinction for the products of its owner, serving both his/her interests and those of consumers as concerns to the absence of delusions and unambiguous awareness of the origin of goods and services. However, how this differentiation is achieved and protected in a regulated way against deliberate or apparently good faith encroachments is the subject of legislation that does not always manage to set clear criteria and at least needs several points of view and interpretations. In this context, the article derives and interprets selected texts from the most important national and international normative acts (such as the Paris Convention, the EU Regulation and the local competition law), and at the end points out an exemplary litigation that arose on the basis of "similarity" to a well-known brand, considered unfair competition.
-
Milen Atanasov
Insurance "Professional Liability" for Insurance Intermediaries
Summary:
This paper indicates various requirements for maintaining the insurance "Professional Liability", for insurance intermediaries, by comparing a number of features of the repealed and current regulations. The article considers how various forms of transformation into trade and legal nature, for insurance broker, influence the insurance held by him. The scope is outlined and the types of damage, that the insurance "Professional Liability" covers, when carrying out the insurance mediation from the insurance broker, are specified.
-
Hrabrin Bashev
Why and How to Evaluate the "New" Governance Sustainability of Agriculture
Summary:
In Bulgaria, like in many other countries, there is practicaly no studies on the governance sustainability of agriculture and its importance for overall agricultural development. This study tries to fill the gap and suggesrs a holistic framework for understanding and assessing the governance sustainability of Bulgarian agriculture. The new approach is “tested” in a large-scale study to assess the governance sustainability of Bulgarian agriculture at national, sectoral, regional, ecosystem and farm levels.
It is proved that it is important to include the "missing" Governance Pillar in the assessment of the integral sustainability of agriculture and the sustainability of agricultural systems of different types. The multi-principal, multi-criteria and multi-indicator assessment of the governance sustainability of Bulgarian agriculture found out that the overall sustainability is at a “good” but close to the “satisfactory” level. In addition, there is a significant differentiation of the levels of integral governance sustainability of the different types of agro-systems in the country. Moreover, the individual indicators with the highest and lowest sustainability values determine the “critical” factors enhancing and deteriorating the particular and integral governance sustainability of the evaluated agro-system.
Given the importance of holistic assessments of this type for improving agricultural sustainability in general, and the governance sustainability of agriculture in particular, they should be expanded and their accuracy and representativeness improved. The later requires increasing precision by increasing the surveyed farms and stakeholders, and using more "objective" data from surveys, statistics, professional experts in the field, etc.
-
Alexander Kanev
Meaning, A Prioricity and Reality: Wittgenstein’s Critique of Traditional Philosophy
Summary:
In recent years, largely due to the emergence of the so-called Therapeutic readings of the Tractatus,1 Wittgenstein’s critique of metaphysics has become a subject of hot debates. Arguably, three major issues divide Wittgenstein scholars. The first one is how Wittgenstein criticized traditional philosophy in the Tractatus. Did he espouse any doctrines in order to show that metaphysical utterances are nonsensical? Did he lay down necessary conditions for meaningful speaking? How are we to make sense of the penultimate remark of the Tractatus where Wittgenstein states that his own propositions are nonsensical? The next issue concerns Wittgenstein’s later criticisms of metaphysics. Notably, most interpreters of the Philosophical Investigations do not see any connection between what is arguably the central argument of the book—the famous rule-following argument—and his ‘deflationary’ conception of philosophy. So, many scholars doubt whether Wittgenstein’s rejection of metaphysics is sustained by well-developed arguments (cf. Soames 2003: 29). Those who think that he presents genuine arguments against the meaningfulness of philosophical contentions disagree on how to interpret their nature. Do they support philosophical theses? If not, then what kind of theses they support? Are they intended to support theses at all? The third issue is about the dis/continuity of Wittgenstein’s critique of traditional philosophy. Which of the Tractarian reasons for considering metaphysical questions nonsensical were maintained in Wittgenstein’s later work? Are his later criticisms of philosophical theorizing essentially different from the early ones? Did the Philosophical Investigations jettison the Tractarian strategy of attacking metaphysics?
-
Dragan Georgiev
Establishing a System of Income Multiplier Profiles in the Lodging Industry
Summary:
The determination of income multiplier profile (IMP) of an enterprise, activity or department in the budgeting process is a popular method in the field of hospitality to study the influence of different value measurable key factors on the financial result. Its traditional use is associated with determining the business orientation, analyzing the profitability of products and services in order to optimize the financial result, and implementation of accounting and control strategies.
This paper presents a modified approach for establishing a system of standardized profiles, based on conception of responsibility centers under USALI, as key factors are derived from the basic algebraic relationship "cost-volume-profit".
-
Yana Stoencheva
Building a Concept af a Criteria System When Making a Choice During a Purchase of a Residential Real Estate Property
Summary:
The purpose of the present article is to reveal, discuss and range in degree of significance various characteristics of a residential property which influence making a decision during a purchasing process. Apart from the obvious well-known characteristics of any property like location, price, structural characteristics, transport accessibility, etc. this article also discusses certain criteria based on the ancient Chinese philosophy of Feng Shui. Consequently, based on the thoroughly analysed criteria an attempt is presented at grading these criteria in priority and importance thus coming up with a criteria system for purchasing a residential property.
-
Todor Krystevich, Marusya Smokova Stefanova, Kostadin Bashev
Measurement and monitoring of student’s Personal qualification profile
Summary:
Among the priority management goals of any higher education institution are to obtain higher professional qualification and to enhance the possibilities for students’ professional realization. The discussions about the adequacy of the training which the graduates of economic higher education institutions receive are multilayer and they are characterized by inherent contradictions in interests. One of the major reasons for these contradictions is founded on the lack of adequate and timely measures for “successful” student qualification profile. This causes a “fuzzy” perspective for a good professional realization.
The focus of this article is in the institutional research area. Its basic goal is to design a methodology and to develop and adopt a methodology for measurement and monitoring of student’s personal qualification profile through a web-based system with multivariate variables.
-
Ola Adel Abdel Gawad
Die erlittene erfindung einer neuen Identität. Autobiografisches erzählen als dokumentation einer Identitätstransformation.
Summary:
Die vorliegende Arbeit untersucht, in welcher Weise Menschen, die von einer chronischen Krankheit betroffen sind, die Verunsicherung ihrer Identität verarbeiten, und welche Identitätskonstruktionen sie in dieser Lebenssituation für sich finden. Der Erzähler stellt sich selbst in den Mittelpunkt seiner Lebensgeschichte: „Wer bin ich?“ und „Wie will ich sein?“ Eine Verbindung zwischen Erzählen und Identität wird durch den Begriff der „narrativen Identität“ geschaffen, darunter sind diejenigen Aspekte von Identität zu verstehen, die in dem zu untersuchenden Roman „Leben“ (2013) des deutschen Schriftstellers David Wagner dargestellt und hergestellt werden. Zusammenfassend lässt sich sagen, dass David Wagner sein Ich phänomenologisch vorführt. Sein Roman gilt als Spiegelbild von einer Krankheit, die zurzeit in den modernen Gesellschaften weit verbreitet sind. In der Situation von chronischer Krankheit müssen sich die Betroffenen expliziter mit ihrer Identität auseinandersetzen.
-
Radka Vasileva
Applying the "Insurance Maximum"
in Determining the Insurer's Retention. An Example from the Bulgarian Property Insurance Market
Summary:
Reinsurance is a way for insurance companies to reduce fluctuations in their payments and to improve their financial stability. One of the problems that the risk theory in relation to reinsurance has to solve is that of the insurance maximum, i.e. the largest amount of sum insured up to which an insurance company can accept liability without worsening its financial sustainability. Through the use of data on the activity of insurers in Bulgaria, the article calculates the "insurance maximum" for individual types of property insurance. Thanks to the obtained results, it becomes possible to make a quick decision regarding the "largest amount" of the sum insured that an insurance company can take without increasing the relative average risk.
-
Dimitrios Petropoulos, Galina Chipriyanova, Mihail Chipriyanov, Totiu Ivanov
Research Geographic Expansion Opportunities for Businesses through Alternative Network Strategies
Summary:
The research aims to analyze the opportunities for geographic expansion through the implementation of network company strategies. The expectations are that focusing on vertical and horizontal integration will offer a comprehensive understanding of this critical aspect of enterprise growth. Innovative approaches such as vertical and horizontal integration are examined for optimizing the value chain and gaining competitive advantages. The significance of collaboration and the formation of cooperatives among producers to enhance efficiency and establish a strong market presence is underscored. Additionally, the article presents global trends, local circumstances and the current status in Greece through synthesis and strategic analysis, offering alternative strategies for the future with a focus on network connections and innovations. Examples from key agricultural sectors in Greece, such as oranges, olives and olive oil, are also included in the assessment.
-
Julian Vassilev
A Research on Demographic Changes within Bulgaria in Regard to European Trends
Summary:
The purpose of this study is a research on demographic trends in Bulgaria with a view to finding places which may disappear from Bulgaria’s map and formulating economic polices of the country. The study gives an account of the influence of a set of factors influencing ageing and depopulation processes. Three contribution points may be marked. Firstly, a database structure is defined, allowing the use of census data for other researchers. Secondly, a technology is developed for converting census data into the created database. Thirdly, the study provides an approach for implementing regional demographic analysis.
-
Nikolinka Dimitrova Ignatova
Study of Competitive Advantages of Residential Properties
Summary:
The study analyzes and compares the indicators characterizing the competitive advantages of residential properties in two regions of the country – the north and south-central region. The main criteria for the selection of the two regions are the average living area per occupant, the structure of the buildings, the location of both regions and the number of counties therein. Subject of analysis are the residential properties in the northern and southern central region and the counties therein – Veliko Tarnovo, Gabrovo, Razgrad, Ruse, Silistra, Kardzhali, Pazardzhik, Plovdiv, Smolyan, and Haskovo. The study is focused on following indicators: price and quality (range) of residential properties, characterizing their competitive advantages. The time period of the study is from 2010 to 2014. The study analyzes the impact of individual factors of micro and macroenvironment on the market and the competitive advantages of residential property.
-
Stela Kasabova
Studying the Competitiveness of Tourism Business in the Republic of Bulgaria (Evaluation of the Differences of the Services Offered)
Summary:
Maintaining high competitiveness in tourism business (hotel business, in particular) contributes both to the long-term development and management of regions and to the sustainable and competitive development of regional tourist destination. The article deals with issues related to the competitiveness of tourism in Bulgaria by evaluating the hotel services offered to holidaymakers. The results are obtained based on a survey of four hotels (located on the Bulgarian Black Sea Coast), conducted in August 2012. The article consists of three parts: socio-demographic characteristics of surveyed tourists; evaluation of the quality of services offered in hotels (reception services, evaluation of the rooms and restaurant in the respective hotel, and evaluation of nine types of services); evaluation of the differences in the services offered by hotels. The results of the study are that the "strong" and "weak" points are defined by types of services according to the opinion of the tourists interviewed. The emphasis is on improving the weak points and how to improve the characteristics of these indicators for the four hotels.
-
Daniela Stoyanova
Research of Major Models of Organizational Change in the Modern Organizations
Summary:
This article aims to present the need for organizational change in the modern business organization. In order to achieve this goal, on the basis of analysis of the literature resources, an overview of some basic models of organizational change has been made. The main topic of the article is the classification of models of organizational change and outlining their basic ideas. The presented article is structured as follows:
§ Introduction.
§ The need for organizational change.
§ Cluster of models of organizational change: First group - Models for the study of organizational change; Second group - management models for organizational change.
§ Conclusion.
-
Angelin Lalev
Survey of the Support for HTTPS in the Electronic Stores of Bulgarian Small and Middle-Sized Enterprises
Summary:
This article presents an empirical survey, conducted in May 2016 and again in January 2017 with the help of software for automated penetration testing. The survey encompasses fixed set of 480 electronic stores, belonging to small and middle-sized enterprises in Bulgaria. The goal of the survey is to determine to what extent such enterprises manage to deploy HTTPS correctly in defense of their electronic transactions. The survey is conducted twice in a 6 month period with aim to obtain information how and to what extent the small and medium-sized enterprises in Bulgaria are adapting to the sharply rising requirements for information security in Internet.
-
Mariana Georgieva
Eastern Partnership: Outline for the Strategic Management of the Eastern Borders of the European Union
Summary:
The purpose of this study is not a comprehensive revision of the existing analyzes, practices and official opinions on the Eastern Partnership and the thematic platform "Contacts between people. The ambition is to focus on those activities that would lead to the convergence of patterns of social relations and social development between the European Union on the one hand, and countries neighboring the EU and Russia, on the other side. Particular attention is paid to the liberalization of visa regime as a prerequisite for the intensification of contacts between people and to increase mobility.
-
Plamen Petkov
Econometric Estimation of Bulgarian Investment Function
Summary:
An investment function in economic terms is a concept or strategy that explains the relationships between shifts in the national income and changes in the investment patterns in the national economy. In this publication the methodology of vector error correction model (VECM) is applied to investigate long-run and short-run relationships between investments and some of their key determinants - real gross domestic product, inflation, discount interest rate and a composite index of financial development. Econometric analysis is based on annual data, which covered the period from 1991 to 2011. It is estimated there are three investment functions – of the total investment, private investment and foreign direct investment. Åach function is analyzed with and without structural shocks occurring in the study period.
-
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.
-
Nikola Gaydarov
The Economy of Experiences During a Cruise Tourist Program
Summary:
In the present scientific article the issues related to the development of the economy of experiences, the peculiarities of the cruise tourist program and the analysis of the experiences during the cruises in conditions of sustainable growth of the tourist business are found. In the conditions of a sustainable market (before the COVID-19 crisis) a long-term trend was found according to which the attention of the business is focused on attracting more and more tourists wishing to board a cruise ship, thanks to the wide range of tourist offerings product. The peculiarities and advantages of the cruise casinos are described as the basis for the tourist to choose them as the main object for experience during their cruise tourist program. The limitation of the present study is the period concerning the collapse of the tourist market in all its forms, and in the author’s opinion, after the end of the health crisis the major product of the experiences will restore the interest of consumers to this kind of product.
-
Krasimira Slaveva, Vanya Ganeva
Sharing Economy – Characteristics, Consumer Practices and Measurement
Summary:
This study examines the changes in the economy reflected in the sharing economy concept. Since the beginning of the 21st century, it has become an important part of the world economy posing a number of challenges to the operating companies and regulatory bodies. The development of the sharing economy has led to the transformation of many sectors and to some changes in the way a number of businesses operate. In consumer models, attention is being paid to sustainable (green, moral) consumption.
The aim of the study is to characterize and clarify the importance of the sharing economy. The study focuses on: presenting the main characteristics of the sharing economy, clarifying the factors that underlie its emergence; examining the consumer practices that distinguish it, as well as the ways of measuring and assessing it.
-
Georgi Georgiev Dimitrov
Economic Efficiency Due to Improvements in the Road Infrastructure of the Transport Corridors on the Territories of the Republic of Bulgaria
Summary:
In the present study economic efficiency for users of road infrastructure in its building in directions of the land trans European transport corridors in the territory of the country. For the purpose shall be calculated the potential savings in operating costs, by using the method of the scenarios. In the case of the first variant road infrastructure is in this condition, and in the second option, it is accepted that are already built priority projects for the construction of highways and speed roads.
The main purpose of the study is to determine from a consumer point of view to which transport corridors it is economic priority to focus resources and efforts to build the road their infrastructure.
-
Nadya Parpulova, Vladimir Zinoviev
Economic Alternatives for the Transport and Energy Sector in the Crisis with Energy Supplies
Summary:
Russia is a major energy and commodity producer. The current conflict in Ukraine escalates inflation to extreme levels causes a disruption and provokes high risks to global growth. Brent oil and natural gas prices spiked early in March before falling back, with Brent oil ending the month at $103 per barrel and European gas prices at ˆ121 per megawatt hour, up 33% and 55% respectively since the start of the year. The European Commission announced ambitious plans to reduce imports of gas from Russia by two-thirds before the end of the year via more diversification, energy efficiency and by accelerating investments in wind and solar power plants. Despite this ambition, the March EU summit in Versailles highlighted that there are few near-term alternatives to Russian gas and that reducing European dependency on Russian gas requires a long-term strategy.
-
Valeri Apostolov
Economic and Social Aspects in Implementation of Safety and Health Conditions of Work Legislation
Summary:
This article reveals current trends in practical implementation of health and safety legislation, focusing on working time patterns and work organization. Using the National Profile for Occupational Safety and Health, developed in 2019, the article makes conclusions about the most common patterns of working time and organization of work in enterprises in the Bulgarian economy and measures the influence of patterns identified upon possibility to create health and safety at work. The analysis made identifies alarming trends requiring immediate addressing, such as working 50 hours per week, 6 and 7 days work, overloading of persons with certain professional qualifications, low efficiency and poor organization of the working processes.
-
R. Velu
Economic Strategies for Transformation of Neoclassical Paradigm and Competitions in Industry
Summary:
The present research article describes the three components of the neo classical economic paradigm namely, free market, public choice and market friendly approach. How these three components are being applied to the various organizations, particularly, the competitive industries have get benefits. However, the global industries of various economic regions showed inefficiency and suffered from negative externalities and pollutions. And so, TO CHANGEOVER THE NEOCLASSICAL PARADIGM, THE SUSTAINABLE DEVELOPMENT PARADIGM was suggested: how the sustainable development paradigm encompasses the environment and economics to steady state economic growth: for what the world industry and society to do all that were discussed.
-
Ognyan Markov
Economic Development and Migration
Summary:
-
-
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.
-
Sonia Mileva Bojanova
Investments and Threats for Tourism Development
Summary:
The topic is extremely important in light of intensification of different types of threats, which ruin all kind of expectations, scenarios and prognosis for tourism development. Dynamics of investments in tourism are analyzed with special attention on FDI and Bulgarian investments abroad. Among the threats for tourism development the main focus is put on the terrorist attacks, geopolitical uncertainty, crisis and impacts on sector’s recovery. Based on analysis and evaluation main areas for further research on investments and threats for tourism development.
-
Nikolay Stoenchev, Yana Hrischeva
Investment Appeal of Residential Real Estate Property in the City of Sofia
Summary:
The current study is focused on the residential real estate property market in the city of Sofia. It examines different options for assessment of investment return on three of the most widespread types of residential housing property – studios, one-bedroom and two-bedroom flats – by residential district in the city of Sofia. A comparative static analysis has been performed according to housing location as well as a dynamic analysis in relation to a past period. For the groups of the most appealing locations, graphs have been plotted of investment return dynamics per month, for a one-year period, which reveal the seasonal character of the changes in the indicator examined. The most recent mass data are used, meeting the requirements for calculating reliable unifying characteristics. Major priorities and objective laws have been worked out, benefiting both theory and practice.
-
Valentin Milinov
Investment Portfolios of Insurance Companies: Essence, Structure, Problems
Summary:
The article reviews the nature and changes in the investment portfolios of insurance companies in crisis. Investment of equity and reserves is an essential part of the overall activities of insurance companies. Insurance companies' asset management includes investments in securities that generate investment and operating cash flows in the financial markets. Under the conditions of a global financial crisis efficient investment portfolios must be built on optimal diversification of the various types of investment in order to reduce the investment risk.
-
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.
-
Walter E. Block
Indifference in economics: comment on Nozick, Hoppe and Wysocki
Summary:
Nozick (1977) set a challenge for Austrian economics. On the one hand, this school of thought rejects the notion of indifference, and along with it, indifference curves. On the other hand, the praxeological school accepts the concepts of supply and demand curves. But the latter supposition logically implies indifference, in that the persons for whom the supply and demand curves apply look upon all the constituent items as identical; if not, these diagrams could not be drawn. A similar account applies to diminishing marginal utility, another tool of economic analysis accepted by Austrians. But this, too, implies indifference, at least according to Nozick.
Block (1980) responded critically to Nozick (1977). Hoppe (2005, 2009), a leading Austrian economist, agreed with Block that Nozick was in error, but also rejected Block’s specific refutation this eminent philosopher’s critique. Wysocki (2021) sided with Nozick and Hoppe in this debate. The present paper is an attempt to support the Blockian view vis a vis that of these three scholars.
-
Petya Emilova, Kremena Marinova
Innovative Solutions and Technologies in Tourism as an Opportunity for Digitalization of the Hotel Business
Summary:
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.
-
Galya Taseva
Innovation and Financial Performance of SMEs in Bulgaria
Summary:
: The relationship between innovation activity and the financial performance of SMEs in Bulgaria is examined. The survey results show that there is no statistically significant relationship between the innovation activity of enterprises and their financial results, net sales, profit margins, return on assets (ROA), return on equity (ROE) and asset turnover. However, a significant dependence of the innovative activity of SMEs in the country and indicators of their liquidity, indebtedness and bankruptcy risk are revealed. SMEs that have innovation costs or have introduced in their market a new or significantly improved product, or have introduced new or significantly improved production methods in the last three years, are less liquid, more indebted and more likely to go bankrupt.
-
Tatyana D. Odinokova, Jelena Lukjanova, Valentina Djakona
Innovative Activity of Small and Medium-Sized Enterprises as a Factor of Economic Growth
Summary:
The article focuses on the innovative activity of small and medium-sized enterprises and on their role in the economy of Latvia. Despite the economic growth, which has been observed in the national economy during recent years, the innovative activity of most enterprises remains rather low. The transformation of the Latvian economy in the context of modernization implies the increase in its competitiveness on the European and global markets and therefore leads to the increase of the role of SMEs.
-
Ivan Varbanov
The Instrumentalism of Milton Friedman
Summary:
-
-
Kalin Ganchev
Tools of the Contemporary Protectionist Policy of the European Union
Summary:
Despite the triumphal march of economic globalization, whose main characteristic is trade liberalization, countries and supranational integration formations have not abandoned, but improved the regulatory effects on international trade. The most decisive in the conduct of protectionist policy has been, in no small part, to continue to be the leaders of economic and technological dynamism - the USA, Japan and the European Community. The paper discusses the basic measures that protectionism is applied in practice: import licensing arrangements; duties with higher rates; import quotas; MIPs; minimum duties; additional duties and / or import taxes; import bans; dumping and countervailing duties. Conclusion, that contemporary forms and manifestations of these traditional instruments to mitigate foreign goods competition in favor of taking local farms are united in a common term “neoprotectionism”, has been reached.
-
Ivaylo Stoyanov
Intelligence and Managerial Behavior in Management of Organization
Summary:
The article examines issues related to intelligence and behavior of managers in an organization. Managers today face different challenges and problems arising from the business environment and the dynamics of social process. In this context most of them need competencies that are essential to deal with business ventures in the organization. The publication is a brief retrospective review of the types of intelligence (emotional, social and practical) and considers their specific characteristics. An integrative model of intelligence is proposed and behavior of managers in the organizational environment has been proposed.
-
Margarita Mihaylova
Interests and Behavioural Consistency in the Management System
Summary:
Individual behaviour is guided by self-interest. The self-interest of the subject of management is extended to a number of functional and group interests. Despite the partial discrepancy between the interest of an individual and the interest of the organization they belong to, when choosing an alternative of management decision the subject of management often shows behavioural consistency under the influence of internal psychological factors. The subject of management is also often characterized by plurality, which is why their behavior is based on the congruence between the interests of a subject and an object of management and on the balance of the interests of a number of external stakeholders.
-
Natalia F. Altukhova, Elena V. Vasileva
Internet-Entrepreneurship in Russia and the New Forms of Training Young Entrepreneurs
Summary:
The article considers features of development of startups in Russia. Department of Business Informatics Financial University under the Government of the Russian Federation teaches undergraduate and graduate students the basics of entrepreneurship on the Internet from 2015. Developed author's techniques of training of young entrepreneurs based on the use of technology design thinking. The authors use the example of a business game, which uses design thinking and Lean Startup.
-
Nataliya Marinova
Information Society in European Union and Bulgaria – Situation and Trends in Information and Communication Technologies Usage
Summary:
The European Union has long recognized the role of information and communication technologies (ICTs) as key factor to greater competitiveness and integration of business organizations of the continent into the global economy. Currently, the transition to the Information Society has no alternative. Matter of national choice of each Member State, including Bulgaria, is not whether to build such, but manner and forms of its realization. Development of Information Society is a cross-border and transnational process in which individual countries implement their national policies.
The theme of this paper is to investigate legislation, condition and trends in European Information Society. The aim of the study is a comparative analysis of indicators characterizing the Information Society in Europe as a whole and Bulgaria in particular. An empirical data from the websites of Eurostat, National Statistical Institute and the survey with the participation of the author are used for achieving the objective.
-
Atanas Grigorov
Information and it's Addressee
Summary:
This paper is a fragment of an extensive study. The proposed text here refers to the premises of the study - psychological, i.e. related to the motivation for it, and conceptual - i.e. clarifying the framework in which it fits.
-
Igor Wysocki, Walter E. Block
Caplan on Probability: a Critique
Summary:
This paper addresses economic methodology, focusing particularly on Caplan’s (2003) probabilistic analysis and the problems therewith. The argument launched against Caplan is based on the fact that the said author either violates the rule of self-reference (his methodological statement) rule does not obey the standard it sets itself to judge the lower-level propositions of economics) or if it does not, Caplan is inevitably in the epistemic dark as to the probability of lower-level propositions. In the meantime, we will make an attempt at the exegesis of what Caplan may possibly mean by the notion of probability. Finally, it will be demonstrated that the criticism directed at Caplan does not apply to the methodology employed by Austrian economics.
-
Olena Sharah
Quality of the Economic Growth under the Terms and Conditions of the Technological Progress
Summary:
This Paper has a two-fold purpose: 1) to explore the abstract and theoretical principles of the classical and neoclassical economic theory to the notion of the economic growth under the terms and conditions of the technological progress; 2) to try to apply these provisions with national economic practice of modern Ukraine.
-
V.i. Lyashenko, Y.i. Tulku
Quasi-Tangible Assets of Modern Neo-Industrialism
Summary:
In this article the authors insist on imperfection of existent financial instruments, which caused the financial-economic crisis and suppose that there is another possibility for companies to get extra financial resources. One of those possibilities is using a new format of assets for companies’ capitalization. The financial mechanism of their trading is also suggested.
-
Anita Atanassova
Clasification of Costs as a Tool for Business Management in Bulgarian Reality
Summary:
Costs are an essential tool in the economic management of enterprises. According to the results of an empirical study, contemporary Bulgarian practice recognizes this fact. In the same time we witness a number of controversies regarding the understanding of costs, assessing their relevance to financial management and practical implementation of various cost. The main reason for this is a lack of adequate knowledge for the opportunities offered by the different approaches to cost management. As a necessary first step we consider dissemination of information for costs in various aspects. Responding to that gap, we propose a broad modern classification of costs, combining classification criteria, classification purposes and specific types of costs.
-
Dimitar Trendafilov
Clusters and Communication: Marketing Aspects of Argicultural Practice in Bulgaria
Summary:
This paper focuses on the agricultural business in Bulgaria and the perspectives for its successful development and promotion in the context of global competition and positive aspects of cluster organizations. In the first place, it scrutinizes the problems that the sector has been experiencing since the political and economical changes in 1989 and the new challenges it faces nowadays such as competitive improvement, value added and communication as well as internal business environment and country’s EU membership. Some crucial theoretical points in cluster formation are outlined in order to answer the question why such collaboration is useful and even necessary for the growth of local economy and resources optimization. The second part examines several examples exposed in connection with the local practices in clustering, social responsibility, the so called “cause marketing”, the benefits of active communication as well as cultural and wine tourism development which has been gaining popularity especially among the young generation of consumers.
-
Atanas Grigorov
Cultural Codes (1, 2, 3)
Summary:
The problem of Codes of Culture the "cultural codes" as the term is established in Bulgaria’ mainly through the translations of U. Eco . and R. Barthes/, has long ceased to be only theoretical, and has become a social problem. Understanding of any aspect of a rapidly changing culture of our times, and hence - the formation of adequate personal or institutional development strategies, is related to the identification of the characteristic of this particular aspect of codes. The article "Codes of Culture" has prepared the first of several print publications. All of them, in their entirety, are an attempt to illustrate one possible way of "introduction" to this problem in the public domain, for introduction into the thinking of the widest possible audience.
-
Snejana Kostova, Nonka Georgieva
Quantitative Measuring of External Ecological Expenditures for Assistance of Decision Making Management
Summary:
The goal of presented paper is to describe main steps of the Impact Pathway Methodology for external costs calculation and the existing software tools for its practical application. Results for external costs from coal fired power plant located in the central part of Europe are presented. The results are obtained by one of the versions of the software tool EcoSense.
-
Dimitar Trendafilov
Communication properties of brand
Summary:
The article is dedicated to brand as a communication device in marketing practice and, thence, it attempts to define in clearer manner why and how brand serves to companies’ sale objectives, and how could be used more successfully as a tool. The main thesis is that brand deserves the whole responsibility and attention of the management since in the contemporary business environment it is superb, but not one and only, instrument for taking hard-to-copy competitive advantages and it provides the much needed dialogue with consumer, who on her/his side has more and more opportunities to influence brand’s life in the market. Also the most important tasks of brand in terms of communication are listed, and by means of two diagrams its main elements and their functions are illustrated in different perspectives.
-
Miryana Hristova
Commutational Properties of Powers of Operators of Mixed Type Increasing the Powers
Summary:
The operators were considered in [11] with non-negative integers. Here they are considered with parameters in the space of the polynomials with complex coefficients or in the space of functions analytic in neighbourhoods of the origin. Power series description of the commutant of powers of is given and then the question about the minimal commutativity of H (in the sense of Raichinov [13]) is discussed.
-
Nikolay Nenovsky, Giovani Pavanelli, Kalina Dimitrova
Exchange Rate Control in Italy and Bulgaria in the Interwar Period. History and Perspectives
Summary:
The history of the exchange control in Europe in the interwar period provides us with interesting insights of the current development of the European monetary union and of the perspectives of its enlargement, where the exchange rate and monetary regime have a central role. Like in the past, in a different historical context and in different forms of course, Europe today could be also divided into centre, semi-periphery and periphery or, in other words, groups of countries at different stages of economic development. Therefore, we find it challenging to compare the evolution of exchange control (an exchange rate regime) in two countries which were of course characterized by different economic conditions - Italy being a representative of the semi-periphery and Bulgaria of the peripheral and, at that time, underdeveloped Balkans − but which, as a matter of fact, were both external to the financial and industrial core of Europe.
-
Alexander Chumakov
The Conflict and the Possibility of Dialogue in the Modern World
Summary:
 ñòàòüå ðàññìàòðèâàåòñÿ ïðîáëåìà ñîöèàëüíî-ïîëèòè÷åñêèõ êîíôëèêòîâ â óñëîâèÿõ íàðàñòàþùåé ãëîáàëüíîé âçàèìîçàâèñèìîñòè è ñïîñîáîâ èõ ïðåîäîëåíèÿ. Ïîä÷åðêèâàåòñÿ, ÷òî â îñíîâå ñîâðåìåííûõ îáùåñòâåííûõ ïðîòèâîðå÷èé ëåæèò êóëüòóðíàÿ äèôôåðåíöèàöèÿ è íåäîñòàòî÷íûé óðîâåíü öèâèëèçàöèîííîãî ðàçâèòèÿ, êàê îòäåëüíûõ èíäèâèäîâ, òàê è âñåâîçìîæíûõ ñîöèóìîâ. Íàèëó÷øèì ñïîñîáîì ðåøåíèÿ êîíôëèêòîâ ÿâëÿåòñÿ äèàëîã, êîòîðûé ìîæåò ñòàòü îñíîâíûì ñðåäñòâîì îáùåíèÿ ëþäåé, åñëè íà ìåñòî âëàñòè ñèëû, ïðèäåò ñèëà äóõà, ÷òî ïðåäïîëàãàåò ñîîòâåòñòâóþùèé óðîâåíü öèâèëèçîâàííîñòè, ðàçâèòèÿ òîëåðàíòíîñòè è êóëüòóðû â öåëîì.
-
Irena Emilova
The Conceptual Model for Managing Organizational Culture in the Sphere of Social Activities
Summary:
The paper explores options to create a conceptual model for managing organizational culture in the sphere of social activities. In it a clarified the essence of organizational culture, as a phenomenon and its elements and new approaches to scientific and practical study.
There is selected subsystem - social services, for approbation of a particular model. In it is prove the idea, that organizational culture is a reliable tool for the development of any organization in today's complex and dynamic environment.
-
Nadezhda Ivanova Popova – Yosifova
Conceptual Framework for Financial Reporting – Issues for Discussion and Prospects
Summary:
The formation of the Conceptual Framework for Financial Reporting is a slow evolutionary process influenced by numerous economic, social and political factors worldwide. Recently, the contents of the framework has been intensively discussed by professional organizations, researchers in accounting and finance and other persons concerned. These issues become more and more live and significant, since the Conceptual Framework for Financial Reporting is designated for both facilitating International Accounting Standards Board (IASB) in improving the standards and guiding all parties concerned in their interpretation, as well as assisting any financial report compilers where the standards allow the choice of accounting policies. The present article shows an analysis of the basic issues in the contents of the Conceptual Framework for Financial Reporting, it presents a chronology of the development of the framework and discussions on publications of leading professional organizations and researchers.
-
Emil Tsanov
Conceptual Aspects of Social Digital University
Summary:
The development of information technologies in direct proportion to the growth of technology and media for social interaction, sharing of resources and management of the relationship between objects and subjects of these processes, incl. university education systems requires improvements in their direction trinity "social network - content management - management of customer satisfaction." There are technologies, processes and specialized tools by means of which the contemporary complex environments for Content Management can automate processes throughout the life cycle of educational activities. Complex and diverse processes between objects and subjects of collaborative working build the nodes and relationships in a heterogeneous, multi-dimensional, optimal manageable social graph.
-
Genka Rafailova
Conception of Tourist Destination Stable Growth - Principles and Mechanisms and their Application to the Tourist Destination Varna
Summary:
-
-
Vanya Grigorova
The Covid-19 Crisis: a Stress Test for Corporate Responsibility in Bulgaria
Summary:
The study looks into the specifics of corporate social responsibility during the state of emergency, imposed because of the coronavirus pandemic. This study aims at scrutinizing and systematizing how CSR targeted both internal and external stake - holders (employees and wider society, respectively) during the COVID-19 induced state of emergency in Bulgaria. The analysis is based on an overview of corporate social responsibility in Bulgaria, comparisons with practices in other countries, as well as a survey with employees from 82 companies. The collected data illustrates the practices applied towards employees, business partners and society. The estimated total index of CSR allows to highlight economic sectors where social responsibility is higher. Acomparison between employee-oriented practices and practices oriented at other stakeholders can show whether the company is equally socially responsible inside and outside the enterprise. The findings can provide guidelines for future more comprehensive studies and can be used to propose further recommendations for business and governmental policies in future extreme economic events.
-
Ivan Marinov
Corporate Social Responsibility of Bulgarian Banking Sector – Mission and Business Practice
Summary:
As a consequence of legal regulation, the organization of bank activity and established traditions, society often treats commercial banks only as subjects, absorbing and redistributing monetary resources in order to obtain financial advantage which benefits both banks and their owners. However, a similar perception is not applicable to the vision of modern banks which demonstrate aspirations of harmony with the surrounding socio-economic environment and a desire to improve their image in the corporate community. In this respect, corporate social responsibility of banks is a way to voluntarily integrate their business into national and international processes.
-
Svetoslav Kaleychev
Space Tourism - Utopia or Expected Future
Summary:
In the recent years, a new and completely unknown field has gained popularity in the economic industry, contributing new and unknown concepts, attitudes and ideas, namely space tourism. The ever wider enters of information and communication technologies into the life of contemporary society, has led the possibility of access to information of a global scale. All this has led the creation of new and unknown experiences that have shaped the evolution of space tourism as a response to modern trends in the development of tourism as a science and economic branch. Space tourism itself represents a unique, extremely and difficult to access experience. It can reasonably be argued that the development of the contemporary society has defined the last years as the appropriate time for its realization as new and completely unknown to the general public economically and in particular a tourist product.
-
Ognyan Simeonov, Maya Lambovska
Survival Crisis and Evaluation of its Depth
Summary:
The present report takes the view of the business organizations’ natural evolution. The report scrutinizes crises as a necessary challenge, an inevitable companion and a motive force of this evolution. Along with some fundamental methodological approaches to that understanding, a general characterization of the evaluation methods for threats to the organization is propounded in the report. Such methods are considered as a key point for revealing the extent of contradiction between organization and its surroundings, which contradiction causes any type of crisis.
-
Vladimir Sirkarov
Bitcoin Cryptocurrency as Money – a Monetary Analysis by Using the Ludwig von Mises Regression Theorem
Summary:
Money came into existence on the basis of market relations in the absence of state intervention. The first means of exchange date back earlier than the development of clearly-established structures of public administration. The need for money was generated during an early form of trade, the barter. In general, the actual functions of money cover three general categories: a medium of exchange, a store of value and a unit of account. Money should be a universal force. This does not mean that money can be used by everyone; it requires wide application and sustainability. Ludwig von Mises' regression theorem is a praxeological analysis of the marginal utility of money. It analyzes reaching a historical moment when a commodity becomes a medium of exchange. The emergence of a new medium of exchange is based on an existing pricing mechanism. The subjective monetary value at the moment can be thus calculated. Bitcoin is a medium of exchange, but it still has no universal status. Cryptocurrency does not contradict the regression theorem and has the theoretical basis to turn into money. It depends on the preferences of economic agents whether this will happen or not.
-
Milen Atanasov
Critical Analysis of the Rights and Obligations of the Insurance Broker Defined in the Insurance Code
Summary:
In the present work, the rights and obligations of the insurance broker (IB), which are covered by the insurance and reinsurance activity carried out by him, are examined and systematized, according to the Bulgarian legislation. The manner in which the remuneration of the IB is determined and negotiated and the possibility of its deduction from the amount of the insurance premium is presented. The circumstances under which IB has the right to receive both insurance premiums and important information relevant to the insurance risk, as well as documents on insurance claims, are specified.
The obligations of the IB related to its information and consulting activities in informing the users of insurance services about the most rational coverage of the various types of insurance products are covered and analyzed in detail, directing individually to the most suitable of them. The obligations of the insurance company are also presented, extending to the conclusion of insurance contracts, establishing the insured event and its consequences, as well as its administrative legal obligations.
In following up and analyzing the individual types of rights and obligations of the IB, a number of proposals have been made to supplement and improve the current regulations.
-
Laura Davidson, Walter E. Block
A Critique Of Definitions in Economics from an Austrian Perspective: Microeconomics
Summary:
In the physical sciences, it goes without saying that all practitioners use words in the same manner. A mere verbal dispute would be anathema in this arena of intellectual discourse. There is no dispute, , as to the means of words such as “gravity,” “mass,” “genus,” “species,” “oxygen,” “x-ray,” etc. Matters are not as salutary in the social sciences. The present paper is an attempt to place economics, the queen of the social sciences, on a par with physics, chemistry, biology, etc., or at least to make an attempt in this direction. Systematic knowledge, the sine qua non of science, requires good communication. But this, in turn, can only be achieved, if its necessary condition is attained: precise definitions. In the present paper, we discuss in this regard the microeconomic concepts of entrepreneurship, monopoly, derps, indifference, development and rent seeking.
-
Silvia Todorova Dimitrova
Cultural Policy of Municipalities – Local Population’s Evaluation
Summary:
An essential element of public policy is the field of culture. In this sense, a significant milestone in the implementation of cultural policy, in terms of the distinctiveness of municipalities, is the assessment of the population, for which it is developed. The aim of this publication is to present the support of the local population for cultural policy by the assessment of included in it: cultural activities, priorities, segmentation of users (residents and visitors) and coherence with other public policies.
The article presents the results of the population survey on cultural policy implemented in six municipalities in Bulgaria - Kavarna, Balchik, Biala, Shabla, Avren and Dolni Chiflik. With the help of questionnaires were obtained estimates for cultural activities, infrastructure priorities and bottlenecks, as well as consistency with other public policies. Top rated are Kavarna and Balchik on the variety, intensity of the cultural calendar and cultural infrastructure, as well as the consistency of their public policies. Overall, the highest degree of consistency was observed between cultural policy and tourism. The results show that in the segmentation of users we cannot give priority to one category only - locals or visitors. They are equally represented as beneficients of cultural policy.
-
Andrey Minchev
Cultural Differences in Internationalization of SMEs in Asia
Summary:
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.
-
Hrabrin Bashev
To the Question of Economic Study of Agrarian Contracts
Summary:
Arround the globe, a huge number of theoretical and empirical studies and publications related to agrarian contracts of various types have been made. In Bulgaria, the studies of economic contracts in general, and of agrarian contracts in particular, are incidental, with individual researchers applying "their own" definitions and methodologies, which are often contradictory, non-comprehensive and highly debatable. The article attempts to answer several important academic and practical questions: what is an economic contract, what is the difference of the economic approach compared to other (legal, sociological, etc.) approaches to the study of contracts, what is the role of economic contracts in agrarian governance, why there is such a huge variety of contracts used by agents, etc. The achievements of the interdisciplinary New Institutional Economics are adapted and a holistic framework for the economic understanding and analysis of agrarian contracts and contractual relations in agriculture is presented. The system of agrarian contracts is seen as a complex, networked and multi-layered system, involving a variety of agrarian and non-agrarian Agents, who govern their relations and activities through various contractual Means (types of contracts), participating in the agrarian contractual Process, as a result of which in each particular time period in a given country, region, sub-sector, type of farming, agro-ecosystem, etc. dominates a certain contractual and governance Order. Like the economic analysis of the system of agrarian governance, the holistic analysis of the system of economic contracts is to apply an A-M-P-O approach, which includes an analysis of all its elements - Agents, Means, Process, and Order. The article offers an adequate economic definition of agrarian contracts and characterization of their place in the system of agrarian governance as bilateral or multilateral agreements related to agricultural production and services. After that, an economic characterization of the agents participating in the contractual relations is made, paying particular attention to their bounded rationality and tendency to opportunism. These two characteristics related to "human nature" are the reason for the existence of transaction costs and the need to choose an effective governing (contractual) form to increase the "rationality" of agents and protect against possible opportunism in their relationships.
-
Metody Kanev
Towards a New Paradigm for Social Life
Summary:
-
-
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.
-
Yavor Yankulov
Personal Selling: Element of IMC and Influence on Customer Satisfaction
Summary:
In the article on focus is the Personal Selling as an element of Integrated Marketing Communication. Derived are the benefits of the Personal Selling, mainly in comparison with Direct Marketing and Promotions. The specifics of the Personal Selling are being analyzed in terms of the communications mix. As far as they appear simultaneously an element of the Integrated Marketing Communications, but inherently they are kind of retail, and in its two manifestations they influence on the customers’ satisfaction. That’s why it’s important that we know the process of establishing the satisfaction, as well as its elements, on which the personal sales might have stronger influence. The satisfaction isn’t just the lack of disappointment, for that both should be independently explored and observed in practice. There are three main influential elements of the satisfaction – reversibility, status quo and valence; they are object of study as well.
-
Milka Bakyrdzhieva
The Manipulation in Management and Mass Communication Technologies
Summary:
The aim of the research is to define the nature of the “manipulation” phenomenon and its manifestations in the management and mass communication technologies (propaganda, advertising and public relations). The research outlines some methods for managing cases of manipulation and, in certain cases - techniques for counter-manipulation.
-
Ivanka Tsoneva
Manipulating of Public Opinion - Psychological Foundations
Summary:
Public opinion is presented as a heterogeneous mixture of rational beliefs, irrational stereotypes and emotional beliefs of individuals from the target audience. For its consolidation psychologically grounded techniques and tactics are offered. They must comply with both rational and emotional characteristics and the sign of its constituent individual opinions - positive, zero, negative. Each approach is illustrated by a case study.
-
Ivan Kotliarov
Mathematical Theory of Labour Motivation
Summary:
The present article gives a list of axioms needed for building up a mathematical theory of human motivation. A mathematical model of labour motivation is proposed. Motivation is represented as a resulting vector of partial motivation generated by specific groups of needs. Vroom’s model is included in the proposed model as instant motivation. A correlation between the level of motivation and the level of productivity is established.
-
Hristo Sirashki
International Conference (Project ECVET)
Summary:
-
-
Teodora Filipova
International Conference about project “EP Social Inclusion Women Entrepreneurship E-learning”
Summary:
-
-
Dimitar Trendafilov
Meme, Brand and Pop-Culture
Summary:
Being a social animal human demonstrates unusual aptitude to imitation which is peculiar to his/her ‘natural’ roots but rather, in a large extend, it is a result of the ‘cultural’ submersion. For that reason the following text makes brief review of the R. Dawkins’ theory of memes in order to apply it later to the contemporary market context and especially in terms of brands. Several examples are given concerning prominent brands as Apple, Doc Martens and some others since they build the argumentation in favor of the thesis that, in principal, brands are among the strongest memes we could encounter in culture and nowadays they take advantage of the highly intensive global communication flow via Internet. Given ideas, behavior and practices of consumption are greatly transferable at least between the limits of certain subculture networks if only there is available powerful enough mechanism to put the meme in motion.
-
Ivan G. Ivanov, Nonka Georgieva
A Linear Matrix Inequality Method for Stochastic Model on Markov Jump Linear Systems
Summary:
We consider a special class of linear quadratic stochastic models on Markov jump linear system. The aim is to find the best control function for a model. The search of the control function passes trough the computation of the maximal solution to a system of the general discrete time Riccati equations. An effective method for finding the maximal solution is the method of a linear matrix inequality (a standard method). In this paper we present two new modifications of the method of a linear matrix inequality. The numerical experiments for comparing the computational characteristics of the modified methods and the standard method are executed. The numerical experiments show the effectiveness of new methods to the standard method.
-
Galya Georgieva
Methods of Amortization ind its Influence on Financial Result
Summary:
The article deals with the methods of amortization of non-current tangible assets, regulated by the applicable accounting standards. Data are used to illustrate the operation with them. The annual amortization allowances are calculated by any of the methods of amortization within the useful life of the asset, using the same data. Amortization allowances are accounted as amortization costs relating as directed, according to the adopted accounting policies by enterprises. They are included in the formation of the cost of the products of labour and accounting financial result. To demonstrate their effect on the financial result, a comparison between them has been made. Tables and graphs are included in the article.
-
Iliyan Nikolaev Hristov, Lyubomira Georgieva Dimitrova
Measurement of the Term “Readability” in the Annual Activity Reports of the Bulgarian Public Companies
Summary:
The text of public disclosures is a basic unit of communication between the enterprise and the external users concerned, in particular - the investors. The aim is for the latter to obtain information regarding the results from the activity of the enterprise, its financial position, as well as its prospects for development. A condition for achieving efficiency in this process is the ease of understanding of the published textual information, contained in the financial statements. It is essential that it is complete, accurate and reliable, presented unambiguously, clearly and specifically so that it is easily perceived and understood by its users. For this reason, the empirical study of the "readability" factor of the information disclosed in the annual reports on the activities of the Bulgarian public enterprises is of great interest.
-
Milen Dinkov
Micromanagement in the Organization – as a Form of Control and Management Style
Summary:
The article examines the phenomenon “micromanagement” as one of the major disadvantages of management. The characteristics of this style of management and fundamental qualities of micromanagers have been analyzed. Based on the analysis, the causes of micromanagement in an organization and its possible effects on employees’ behaviour and condition have been defined.
-
Elka Tsoneva
Youth Unemployment in Bulgaria - Economic and Social Problems
Summary:
Unemployment in Bulgaria is becoming a significant scales being a general problem of the society. The so-called ”risk-groups” are particularly affected. Young are the significant group of people that are not in appropriate level on the labor market. The reasons for this condition are the education which does not conform to the needs of the labor market, the difficulties of starting the first job lower pay and searching for better realization abroad after graduation. Young people are social group which represents the near future of the society. They are the most valuable treasure because of their skills, capabilities and intellectual potential are worth for our country. Exactly for this reasons the country and its government social politic should play a main role in caring of this part of the society. General prerequisite for surviving of the society as an organization is the reproduction of the human recourse and so the change of generation themselves.
-
Mihal Stoyanov, Desislava Grozdeva
Mobile Internet Commerce as a Form of Fluid Commerce
Summary:
Mobile commerce is a form of non-store retail trade that furthers the development of e-commerce through its implementation using portable smart devices with Internet access. Evolutionary emergence of mobile commerce is a tool of expanding opportunities for the implementation of commerce in the desired user location and time.
It stands out as a fluid, highly adaptable and highly personalized form of commerce, modern and efficient mechanism for selling products in global markets, which solves some of the current shortcomings of e-commerce, basically the possibility of completely autonomous and independent of physical fixed hardware to exchange in the preferred location for the virtual exchange.
-
Iskren Tairov
Mobile Commerce and its Problems
Summary:
Mobile technologies bring sufficient benefits to business, which can be realized only if companies succeed to use them effectively. The present paper describes mobile technologies and their evolution as a premise for mobile commerce development in detail.
Object of study of this paper is mobile commerce in developed countries and in Bulgaria. The paper is focused on mobile commerce problems. The purpose of the paper is to recommend directions in solving mobile commerce issues on security.
-
Maya Lambovska
A Model for Performance Evaluation of Responsibility Centers in the Organization
Summary:
This article presents a model for performance evaluation of responsibility centers in the budgetary management process of the organization. The model is based on sophisticated instruments, including classical management tools and contemporary mathematical tools of theory of fuzzy logic and fuzzy subsets. The model is presented conceptually and methodologically (by algorithm for implementation). One possible application of the model is illustrated in four versions by an example for a cost center operating in uncertain and stable / dynamic environment.
-
Veniamin Todorov
Modelling Uncertainty During the COVID-19 Crisis
Summary:
The study analyses the levels and the dynamics of uncertainty as a fundamental element of the macroeconomic environment during the COVID-19 crisis. The focus is on the modelling of uncertainty on the basis of the market approach for quantifying it. The process of modelling results in the calculation of indicators through which a comparative empirical evaluation is done. In terms of the economies included, the comparative analysis encompasses the EU and the United States. The analysis is conducted on two levels that go side by side and complement each other. The first one consists of comparing the periods for the concrete economy. The results show similar trends for the EU and for the United States. For the three periods, defined in the study, the sequence of the changes does not differ for the two economies. The second level includes a comparative analysis of the same periods between the economies. The results exhibit a considerable similarity in the levels of uncertainty. For the first two periods the differences are not even statistically significant. For the third period, however, there is a greater difference which is characterized by statistical significance.
-
Gergana Mihailova
Modeling of Household's Behavior in the Process of Acquiring Financial Assets/Liabilities
Summary:
The paper examines the behavior of households, who are the main net saviors in the Bulgarian economy. With accumulated savings they cover their investment and provide financial sources to other economic agents in the economy by the intermediation of the financial institutions. The households play the important role in the economy, especially in the case of the worsening external imbalances, which could be narrowed by the increasing household savings in the economy. For this purpose, it is necessary to define the factors, which determine the dynamics of the acquired financial assets and incurred financial liabilities. The empirical results obtained from the compiled financial accounts (SNA), according to the provided methodology in Mihaylova (2004), are used.
-
Kamen Kamenov
The Modelling Environment and Human Capital
Summary:
The article examines factors forming the modeling environment of human potential. Their operation is analyzed under different variants of combination. Along with the genetically determined qualities the modeling environment underlies the building of human potential. The relation between potential level and realization environment is examined. Their favourable combination creates the best opportunities for revealing exceptional gifts and endowments in the human factor, i.e. talents. A connection is made between human potential and economic growth emphasizing on the importance of human qualities in perspective for the creation of an effective and competitive economy.
-
Nikolay Kacharnazov
The Model IS-LM as a Research Method for Economic Fluctuations of Bulgarian Economy
Summary:
The IS/LM model was born at the Econometric Conference held in Oxford during September, 1936. Roy Harrod, John R. Hicks, and James Meade all presented papers describing mathematical models attempting to summarize John Maynard Keynes' General Theory of Employment, Interest, and Money. Hicks, who had seen a draft of Harrod's paper, invented the IS/LM model. He later presented it in "Mr.Keynes and the Classics: A Suggested Interpretation" (Econometrica, April 1937). Hicks later agreed that the model missed important points from the Keynesian theory. The problem was that it presents the real and monetary sectors as separate, something Keynes attempted to transcend. In addition, an equilibrium model ignores uncertainty. A shift in the IS or LM curve will cause change in expectations, causing the other curve to shift. Hicks therefore created a new Hicks-Hansen IS-LM Model to resolve some of the problems. Most modern macroeconomists see the IS/LM model as being at best a first approximation for understanding the real world. Although the model is generally not taught at the graduate level, a few graduate programs (UNC Greensboro, Auburn University, Florida State, and West Virginia University) continue to use it as part of the macroeconomics curriculum. It is also still the dominant paradigm in undergraduate macroeconomics textbooks, although many dynamists would insist that it is past its prime even in an undergraduate context.
-
Asen Radev
Monetary Politics in the Conditions of Internationalization of Money, and the Adoption of the Electronic Money
Summary:
-
-
Marina Nikolova
Motivation for Development and Effects of Organic Farming
Summary:
The development of organic farming in Bulgaria is one of the priorities of the Ministry of Agriculture and Foods which works to maintain the trend of increasing the number of organic farmers, the amount of organically cultivated lands and the diversity of organically grown crops and animals. The positive effects of organic products and foods for human health, protecting the environment and preserving natural resources have been greatly popularized lately. This is also due to the fact that bigger groups and communities, both in the European Union and in Bulgaria, are interested in healthy eating and sustainable use of natural resources. This leads to the necessity of highly motivated farmers and obtaining good economic results from the introduction of organic production approaches in modern ecologically-oriented farms.
-
Walter E. Block
My Case of and for Coauthoring
Summary:
The benefits of co authoring vastly outweigh the costs in my own case. So much so that I have engaged in this form of publication on numerous occasions. The present paper (single authored) sets out the advantages and disadvantages, and relates my several decades long experience with this mode of cooperative writing.
-
Rosemary Papworth
A Multi-Disciplinary, Social Constructivist Approach to Promoting Student Engagement, Retention and Achievement in Higher Education
Summary:
This article details a social constructivist-based methodology to learning English as a foreign language via a multi-disciplinary approach. The approach used bases learning in a novel, real-world situation so that learners can benefit from the experience of learning and gaining tacit knowledge within a scenario that is designed to enhance motivation. The two groups of students under study were given a year-long project to complete where they had to use not only their language skills, but skills they had developed in other modules from their programme of education such as project planning, project management, planning and holding meetings, producing project reports and working within a collaborative framework. The teaching and research methods in this study aim to improve student engagement with subject materials via added-value and added interest through the use of a practical project, which, in turn, is hoped to improve class retention and student achievement.
-
Vladimir Kraevskyi
The Place of the Accounting Systems in the Management of Sustainable Development
Summary:
The article examines the ability of various accounting systems (accounting, financial reports and statistical records) to meet the information requirements of management of sustainable development. For this purpose, on the one hand possible combinations of economic and environmental accounting have been shown, and on the other - presented accounts for identifying new objects have been studied while making research on the economically underdeveloped regions. The results from the performed SWOT-analysis of the prospects for further development of the statistical system show that natural resources should be included in the accounting system in order to provide more reliable statistical data base for economic analysis and modernization of the national wealth indicator.
-
Yordan Tomov, Silviya Kostova
The Place of Standardization in Auditing
Summary:
Audit is a specific form of control, which has its own distinctive features. One of them is the ability to standardize the audit process.
-
Marusya Smokova Stefanova, Margarita Bogdanova, Evelina Parashkevova Velikova, Elitsa Krasteva, Mariela Stoyanova, Lyubomira Todorova
Best Practices for Gamification in Cultural Heritage: Bulgarian Experience
Summary:
Gamification has gained significant attention in recent years. Even the cultural heritage has not been unnoticed and various gamification techniques have been applied for different purposes. Bulgaria is among the countries with prominent interest in the matter. Although some successful initiatives have been carried out and are still implemented, there is a lack of systemised knowledge for what does not work well and why, which will help practitioners, researchers, public and local authorities in avoiding making the same mistakes in the future. The objective of the paper is to identify best practices for gamification in Bulgarian cultural heritage. The objective is addressed by providing a context specific framework for selecting best practices on gamification in Bulgarian cultural heritage. Based on a set of 12 gamification criteria and 9 impact criteria and by keeping to a 3-stage procedure, the first two top-rated initiatives have been selected as best practices and briefly described.
-
Rashko Ivanov
The National Economy down the Ages of Socialism (1949-1989)
Summary:
During the 80's the communism goes into deep crisis. Socialist engineering faces undecidable problems.
-
Ventsislav Vezirov
German Literature in the Curriculum Of Bulgarian Schools
Summary:
The paper discusses the curriculum in teaching literature from Bulgarian Renaissance to the beginning of the 21st century. It traces the various stages of the inclusion of works of German authors in Bulgarian schools. In the early 20th century bad translations were used, which were without artistic value, made through an intermediary language - Russian. In the study of texts there was lexical and stylistic analysis, from which students acquire a radically different understanding of the style of the author, since the translation has no connection to the original. The proposed review introduces us to a paradox. When in Bulgarian education there were not enough translations, and the existing were too spoiled, German authors were presented better in the Bulgarian school, and now - after having created a truly unique significant translations from German writers, poets and philosophers - none of them is accessible to our students.
-
Yoana Petrova
Discrepancies upon Combining Individual and Group Behavoiur in the Organization
Summary:
The activity of certain organization can be determined as effective, if its members have accepted behaviour that stimulates the achievement of common goals. The combination of individual and group behaviour is a complicated and in certain cases continued process which can be accompanied by a variety of difficulties. There exist variants, in which there is a contradiction available between the individual and group. They ensue from: the individual characteristics of each man, his requirements to himself, his value system, his self-assessment, mode of action, aims that he has set to himself, his manner of behaviour and education. It is necessary to try to find ways and means of their overcoming. The combination of the both types of behaviour imposes adapting of a particular individual to the group, subjugation and sometimes denial of the own opinion with the purpose of accepting of the group one. For this purpose the specific ways and means of overcoming the mismatches between the individual and group behaviour in the organizations are pointed out in this article.
-
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.
-
Emilia Milanova
The New Philosophy Of Basel III
Summary:
The study discusses the major objectives of the Basel III reform package as a philosophy of the new capital accord. It emphasizes the improvement of the capital framework in five main aspects: strengthening the quality, consistency and transparency of the capital base; risk coverage improvement; supplementing the risk-based capital requirement with the leverage ratio; reduction of procyclicity of the counter-cyclical buffers; solution to the issues with the system risk and interconnectedness. The introduction of a global standard for liquidity is presented as another significant aspect in the Basel III package. The paper analyses the question to what extent the Bulgarian banking system is prepared for the new more rigid capital requirements.
-
Ìàðèíà Èâàíîâà Ìèëèíîâà
New Opportunities for Development of the Fintech Sector through the Sandbox Regulatory Regime
Summary:
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.
-
Kristiyan Hadjiev
New Dimensions of Team Approach
Summary:
The article explores the philosophy of the team approach in a conceptually new way. It studies the strategic role of the team from a group dynamics perspective and justifies its importance in social practices. Various types of teams are analyzed in view of immediate results, as are the conditions necessary to transform groups into effective team structures. The principles used to overcome the internal organizational shortsightedness and risk minimization are thoroughly examined.
-
Rositsa Simeonova
New Aspects of Accounting Legislation
Summary:
Accounting is an information system, which only creates information regarding the financial position, the efficiency of operations, the changes in the financial position and the cash flows of enterprises. All this suggests certain requirements for its operation and the information it creates. They are codified in the existing accounting legislation – the Accountancy Act and the applicable accounting standards. Some changes have occurred due to the influence of various factors in the accounting regulations. In recent years, the reasons for this have been related to some changes in the basic EU acts that regulate the relations in the field of accounting.
A new Accountancy Act and National Accounting Standards (NAS) amended and supplemented have been in force since the beginning of 2016. The standards set out in these regulations have led to changes in the implementation of accounting as a practical activity.
This paper highlights both the new aspects of accounting legislation and those that give rise to certain inconsistencies in interpreting them and potential problems in applying them. This is done sequentially – first regarding the Accountancy Act, and then regarding the amendments and supplements to the National Accounting Standards. Some of the arguments can be taken into account when these regulations are further updated.
-
Nedim Dikmen
Nominal GDP And Macroeconomic Policy Choice: St. Louis Model Estimates
Summary:
In this study, we investigate the question of whether monetarist or Keynesian policies were more effective on GDP growth in Turkey. To this aim, we employ the St. Louis model and examine the statistical significance of the estimated parameters. The effects of changes in money supply or government expenditures on GDP growth are not only limited to the current period but might continue over time as well. Hence, we also include the lagged values of the explanatory variables in the model. The estimation period covers the 1981 – 2008 period. The model is estimated by OLS and captures the accumulated effects of the changes in the narrow and wide definitons of money supply (M1 and M2) and government expenditures on the growth of nominal GDP growth. These estimates correspond to the total or distributed lag multipliers for monetary and fiscal policies. The former is not found to be statistically significant whereas the latter is statistically significant. These findings indicate that Keynesian policies based on expansionary fiscal policy via increased government expenditures had more influence on GDP growth in Turkey than the monetarist approach. These results also reflect the various governments’ populist approaches for political purposes. Overall, we find that the St. Louis equation approach is a valid and applicable model in the Turkish case.
-
Svetla Dimitrova Kovacheva
Normative Projections of Public and Private Interest in the Work of Civil Servants
Summary:
The most trivial finding is that since there are state, there are government officials. Countries, however, are quite different in character, which makes difference in the work of their civil servants. This "artificiality" of the civil service makes significant the question for it's constructiveness, and in modern societies, an essential tool for the construction of social reality are the laws and their implementation through the legal system.
-
Stoyan Stoykov
Some Procedural Issues Relating to Criminal Legal Protection of Resources from EU Funds
Summary:
This article is dealing with the procedural rules for investigation of crimes affecting the EU financial system. Attacks with such a specific subject are new to our penal law. However, investigations of abuse of EU funds should not create special difficulties, as though it comes to crimes related to the subject of violations that are generic objects. Native jurisprudence in the broadest sense is a very solid practice connected with crimes chl.201 chl.212-203 and CC.
By ratifying, the Convention concerning the financial protection of the European Community is applied in Bulgaria introduced additional stock of crimes, and therefore be adopted and a number of other changes in laws and regulations (Law on financial management and control of public sector § 1 item 6, the Public Procurement Act and other).
An introduction of this additional criminal law is a fact that could raise questions about the constitutionality of the extent of this protection. For the first time in the Criminal Code used terms such as "funds belonging to the European Union" or "funds available to the Bulgarian state of the European Union.
Looking on constitutionality of protection of these funds to the EU under Article 17 paragraph 2 of the Constitution, property is divided into private and public. The composition of the crimes set out in Chapter Five of the Penal Code "Crimes against property" refers to the concept of 'foreign' - foreign property, foreign property, foreign Money and foreign values. Assets from the funds of the European Union or those granted such a Bulgarian EU country, are relevant to the subject matter of the offense in Chapter V of P Code "Crimes against property.
Interpreting Article 17 paragraph 2 of the Constitution, European Union funds are public property. Constitution as fundamental law, which set the basic principles of state social control does not provide additional protection or priority in the protection of public property to private (article 17 paragraph 2 CRB).
Such additional protection on the various property is governed by the Penal Code, which exalts the offenses of illegal encroachments on the property as a crime which protects against illegal activities the funds in this case.
-
Snezana Djekic
Some Structures and Principles of Sustainable Rural Tourism
Summary:
The role of rural tourism as a potential economic tool is well recognised. It is estimated that tourism in rural areas makes up 10-20% of all tourism activities and a EuroBarometer (1998) survey report shows that 23% of European holidaymakers choose the countryside as a destination every year. The majority of small and medium size enterprises (SMEs) in the EU are in tourism and employ less than five people. Many are comprised of two family members. Rural areas provide a special appeal to tourists because of the mystique associated with the rural environment, its distinct culture, history, ethic and geographic characteristics. Rural tourism is a growing sector of the world's fastest growing industry - the tourism industry. It offers many benefits to the rural community. It can be developed locally in partnership with other small business, local government and other agencies. Its development is not dependent on outside firms or companies and their decisions on whether they want to be in the area or not. When considered against other economic development such as manufacturing, rural tourism is less costly and easier to establish. It works well with existing rural enterprise and can generate important secondary income on farms. While airlines and railways, with their national and international linkages, may provide the best of public transport, and global hotel groups give the highest standards of branded accommodation, it is very often the rural area and its attractions, that delivers the bulk of the visitors' experience and defines their perception of the destination.
-
Agop Sarkisyan
Training Higher Educated Bulgarian Specialists in Information Security
Summary:
The article is dedicated to the matters related to the preparation of professionals with higher education degrees in the field of the computer technologies security. An analysis is made of the possibilities for such an education in Bulgaria and its different forms. Outlined are the problems which could be met in such training. In the end of the work a conclusion is made, that practically it is better to organize such an education as a master degree, t. e. as a superstructure on the Bachelor degree connected to the computer technologies.
-
Atanas Grigorov
The Education trough Philosophy II
Summary:
-
-
Siyka Kovacheva, Donka Keskinova
Public Attitudes towards European Social Policy
(according To ESS 8 Wave)
Summary:
Social policy is often overlooked in public discourses over European integration despite that it is a significant instrument for raising its legitimacy. On the basis of systematic analysis of mass attitudes to European unification, measured in the 8th wave of European Social Survey (ESS), this paper shows that in the EC as a whole European tend to support the introduction of an all-European scheme for social assistance and to consider that more decisions taken on the supranational level will improve social security for all. At the level of the separate countries the citizens are divided in their preferences for a national or a supranational European social security system. On the individual level, the low-status groups are more inclined to support all-European social measures than the citizens at the higher ranks of the social hierarchy. The expansion of integration towards a more pro-active supranational social policy will secure the support precisely of the groups who today feel left behind in the European project.
-
Margarita Stefanova Yordanova
Declaring Bankruptcy and Liquidation of Debtor’s Assets – Legal Nature and Legislative Principles
Summary:
Bankruptcy proceedings is a set of procedural steps taken consistently over time as a result of which are differentiated and relatively independent stages (phases) of the overall court proceedings. On this basis, this study analyses the declaration of the debtor's bankruptcy and the liquidation of his assets. The problems with theoretical and practical significance are those concerning the prerequisites for the transition to this phase and the legislative principles, which are a kind of guarantee for the rights of creditors and the debtor.
-
Ali Veysel
Audit Sampling for Tests of Controls
Summary:
The article is dedicated to scientifically grounded choice of the most appropriate approach for implementation of the audit sample for tests of controls. The practical significance of the study is represented by considering the nature and application of the tests of controls and by analyzing the selection of items for testing. Special attention is paid to various statistical distributions and formulas that are available in the scientific literature and used by Bulgarian auditors in applying audit sampling. They are compared with the basic settings in the International Auditing Standards.
Thus, an approach for applying audit sampling for tests of controls is offered. Practical guidelines on the determination of sample size and results evaluation are given, using functions in Excel and tables developed by the American Institute of Certified Public Accountants. They should be implemented by the auditors to form correct conclusions on the financial information based on the audit standards.
-
Branimira Assenova Koleva
Accounts Receivable and Revenue
Summary:
Revenues are the lifeblood of any organization. Without cash inflows, the entity may cease to exist. The sales account is closely tied to accounts receivables, therefore, evidence supporting accounts receivable tends to support sales. Accounts receivable is frequently the largest asset that a company has. If your company is subject to an annual audit, the auditors will review its accounts receivable and revenues in some detail to determine if they are fairly presented in the context of the financial statements as a whole.
Some companies manipulate their earning by inflating their period and receivables. When trade receivables increase, revenues increase. So, a company can increase its net income by recording nonexistent receivables.
In this article, we will answer questions such as:
• Should auditor confirm receivables to obtain reliable evidence that they are fairly presented?
• Why should we assume that revenues are overstated or understated and to apply professional skepticism?
-
Branimira Assenova Koleva
Audit Procedures and Inventory Verification Techniques
Summary:
This work is aimed at supporting the work of auditors by providing theoretical knowledge and illustrative examples regarding the inspection of inventories. Determining the actual amount of available inventory is an object of very high audit risk. It is a labour-intensive procedure; therefore, more attention should be paid to it. The paper discusses the issues, techniques and procedures that an auditor and other inspection bodies can use to get the most reliable evidence of the real size and ownership of inventories.
-
Silviya Kostova
Audit Procedures in Accounting Estimates and Tax Effects in Financial Statements
Summary:
Executives in enterprises make judgments in a number of cases when giving accounting estimates. In order not to mislead information users, those judgments must be reasonable and consistent with circumstances. As a result of the uncertainties inherent to operating activities, a lot of entries in financial statements cannot be assessed precisely but can only be given a rough estimate. The latter is based on the reliable information available. Conducted audit procedures are therefore essential in order to express an opinion as to the reliability of executives’ judgments. This paper aims to define the major dependencies between accounting estimates and requirements related to auditors’ professional judgment. The focus of research is on reducing information asymmetries in reporting accounting estimates and their tax treatment.
-
Dancho Danchev
Online Commerce in Social Networks: A Global Perspective
Summary:
The current global aspects of social commerce, as a business model combining online commerce and social networks, are under consideration. Emphasis is placed on the conceptualization of this commercial and social phenomenon and the benefits of social commerce, its successful development and the factors that condition modern trends are highlighted. Some guidelines for increasing sales in social commerce are outlined, as well as the challenges in its development.
-
Dwight Davison, Jay Mukherjee, David Simpson, Walter E. Block
Preserving Species
Summary:
With the 40th anniversary of the passage of the Endangered Species Act it becomes necessary to review the history of this act and its impact on achieving its goals of preventing the extinction of endangered species. Many environmentalists have argued that the only way to prevent the extinction of animals, most notable Elephant populations in Africa, is through government management and ownership. However, we argue in this paper that the best solution to preserving endangered species is creating a more free market- oriented system of private property rights over animals and land use.
Our argument is two-fold, first - that without a true market with effective property rights we encounter a tragedy of the commons where there is no effective incentive among individual actors to protect endangered animals. Second is the unintended consequences of regulation by government actors that distort the incentives of individuals to protect endangered animals. By instituting a more market oriented way of governing all animals would significantly benefit by reducing the tragedy of the commons problem and the unintended consequences of government management. Using examples from the American buffalo, African elephants, fish farms, and farm animals we try to build the case for more free market-oriented policies in achieving the goal of species preservation.
-
Kenichiro Nakatani
Experience and environmental regulations in Japan - economical aspects and decisions
Summary:
Missing
-
Andrey Zahariev
Optimization of the Capital Structure of the Companies in Bulgaria (2011) – Technology and Practice
Summary:
The current survey aims to develop a technology for optimization of the capital structure of the Bulgarian firms based on empirical data in 2011. The study is an attempt to enlarge the researches in the field of the capital management under Bulgarian conditions. The resulted massive decapitalization of the Bulgarian stock exchange after 2008 introduce new, increased requirements towards the financial management in both tasks, firstly, in the construction of IPO’s, and secondly, in keeping the value of the company’s shares on levels, attractive for the institutional investors. The empirical results confirm the hypotheses for the existence of an applicable for the Bulgarian conditions technology for optimization of the capital structure of the Bulgarian firms.
-
Vladimir Sirkarov
Optimization of Monetary Aggregates from the Point of View of the Austrian Monetary Theory - Possibilities and Effects
Summary:
The money supply is calculated by different monetary aggregates with a certain structure and scope. The Federal Reserve calculates and publishes two units - M1 and M2. The correct measurement of money supply plays a fundamental role in the conduct of effective monetary policy by central banks. Unfortunately, official monetary aggregates do not have a clearly defined theoretical basis in the selection of individual components, which can lead to inaccuracies in their disclosure and management. This makes the current study relevant, through which an optimized monetary aggregate can be presented, based on the Austrian monetary theory. One of the most accurate monetary aggregates is based on the Rothbard-Salerno concept and is referred to in English-language financial theory as True Money Supply (TMS). The monetary instruments that are part of it cover two main criteria - whether they are the final means of payment of all transactions and whether they are a claim to cash that is convertible at face value.
-
Krasimir Kulchev
Optimization of Physical Distribution by Analyzing its Efficiency
Summary:
The article clarifies the methodological, theoretical and applied problems of analysis of physical distribution. The presented opinions are about the nature and the range of physical distribution. The models have been developed to analyze the efficiency of physical distribution. They are probed to a firm - manufacturer of baby food for two consecutive years. The thesis that is defended is that in contemporary conditions the tools of the economic analysis (methodological and technical) have an important role in the optimizing of the activities included in the composition of the physical distribution and physical distribution in general.
-
Elena Yordanova
Organizational Culture and Ethical Values
Summary:
Material raises the question of the importance of ethical values and organizational culture that is extremely important status in terms of construction and development of new socio-economic relations in society in a globalized economy XXI v.In modern management science has become view that culture is considered a leading factor in economic development. This demonstrated profound changes in thinking in the humanitarian field and the formation of a new type of government relations and communication management based on shared values between the manager and subordinates in the organization.
-
Margarita Atanassova
Organisational Support for Career Development- Monitoring and Analysis
Summary:
The organizational support for career development is a traditional part of the motivationàl package for attracting and retaining targeted professionals. Periodic monitoring (through appropriate and accessible tools) of organizational support for career development is a valuable source of information for decision-making to further improve the activities in this field. The main objective of this article is to present a methodological tool for systematic monitoring and analysis of organizational support for career development and the results of the first stage of its approbation. In the first part of the article, key management activities and practices for organizational support for career development are systematized on the basis of a wide range of research in this field. In the second part of the paper are presented the content characteristics of the methodological tools for systematic monitotring and analysis of the organizational support for the career development and the first stage of its approbation.
-
Hristo Nikolov
Organizational Structures in Management Systems - Science and Practice in Industrial Enterprises
Summary:
The article provides a theoretical overview of the nature and role of organizational structures in the enterprise management system. The processes that affect them are considered, as a result of which changes should be made in the organizational structures of enterprises in order to achieve effective management. Management systems are characterized. A definition of the industrial enterprise as a system is given and its main characteristics are indicated. The main approaches and methods of enterprise management are considered. The organizational structure in the management system is a variable of the internal environment of the industrial enterprise as a result of the influence of both internal and external factors.
-
Admira Boshnyaku
Characteristics of the Business Environment in the Context of Industry 4.0
Summary:
Today’s business organisations operate in an extremely complex and rapidly changing business environment. Among the reasons for this dynamics are rapid technological progress, business globalization processes, changes in consumer requirements, etc. The fourth industrial revolution and the massive application of the technologies associated with it in all aspects of our lives, in combination with the COVID-19 pandemic, have significantly strengthened all these processes, changing important factors of the surrounding business environment and thus posing new requirements and challenges for companies. In this regard, this article examines the main groups of macro factors of the business organizations' environment, analyzes some changes in them and some new requirements caused by Industry 4.0, that business organizations should take into account in the process of strategic business planning.
-
Lyudmil Nestorov
Characteristics of Bulgarian Economy during the World Economic Crisis 1929 – 1938
Summary:
The objective of this publication is to review the situation of Bulgarian economy during the world economic crisis from 1929 till 1933. The research employs empirical approach and comparative economic analysis. The effect of the crisis upon major sectors of Bulgarian economy, such as agriculture and industry, has been examined, as well as its impact on the state of domestic and foreign trade, the state finance and the circulation of currency.
A conclusion has been made that owing to the economic policy which the government conducted at the time, Bulgarian economy performed relatively well during the economic crisis and succeeded in minimizing the negative consequences of the crisis.
-
Plamen Yordanov, Valentin Milinov, Margarita Nikolova
Characteristics of the Investment Process in Managing Financial Resouces of Supplementary Pension Insurance Funds in Bulgaria
Summary:
The object of research is the functioning of the social insurance market in Bulgaria, and the subject – the investment process in managing financial resources of supplementary pension insurance funds. The expose examines the existing interdependencies between the market supply of social insurance protection and the investment component in the process of managing the formed accumulations; the regulatory framework is outlined and the main parameters of the investment process in managing financial resources of supplementary pension insurance funds in Bulgaria are presented; the structure of the investment portfolio in managing financial resources of the supplementary pension insurance funds in Bulgaria is studied. The question is raised about the search for a reasonable compromise between the risks and benefits of a possible liberalisation of the investment process in the management of financial resources of supplementary compulsory pension insurance funds in the context of the emerging competition with the Pan-European Personal Pension Product, which is gaining popularity and distribution.
-
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.
-
Ventsislav Vasilev
Information from the Cash flow Statement – Possibilities for Analysis of the Activity of Insurance Company
Summary:
Cash flow statement is an integral part of the accountability of the insurance company. It is an important source of information when analyzing the financial structure of the insurance company and the types of amount of the cash flows determined of its work. Through the cash flow statement is drawn attention to the distinction between types of activity and direction of cash flows. Using some elements of the report is a prerequisite for the calculation of indicators for adequacy, profitability and rate of development of the individual cash flow. Thus becomes possible to extend the analysis of the business of the insurance company.
-
Metody Kanev
Concerning Scientific Criticism. Time for a Turn
Summary:
-
-
Andriana Andreeva, Galina Yolova
Vacation Leave under Temporary Work Disablement – Specifics, Realization and Social Security Indemnification
Summary:
The scientific paper researches the institute of vacation leave under temporary work disablement through the prism of the labour and social security legislation. The emphasis of the research is the detailed social security legal regulation, which is the essential part of the institute and guarantee for its application. Based on the established interconnections and practical problems, the authors disclose summaries, mark contemporary trends in the development of the enactments and propose de lege ferenda for the improvement of the legislation.
-
Walter E. Block
Secession
Summary:
Secession, political disassociation, can be justified on libertarian grounds, particularly on the basis of the law of free association. We make this case, and then consider objections to this thesis. We conclude with the claim that the war that occurred in the U.S. between 1861 was not a “civil war,” but rather a war of northern aggression.
-
Stanislava Pancheva
Accounting–information Problems Connected with Using of Non-current Assets in Non-profit Organizations
Summary:
In the scientific research, the nature of assets in the enterprises with non-profit goal is explored. On this base is suggested a definition for the assets together with some indications for accounting purposes. The criteria are differentiate, both for admitting the assets and the models of their valuation. Some problems connected with reporting of assets with public meaning and no-current assets without public meaning are outlined. Some guidelines for the resolving of these problems are shown. The position of the assets in the structural section of the annual report is determined. The information links between them are taken out.
-
Krassimira Kostadonova Naydenova
Evaluation of the Effects of Certain Regulatory Decisions for the Financial Market In Bulgaria
Summary:
The capital market in Bulgaria is not a working one and is not useful for the national economy. Despite the regulatory framework that meets the highest global standards, companies are unable to gather new capital and investors do not have access to quality Bulgarian financial assets. Securitization is presented only through the isolated segment of real estate investment trusts. The banking market is wide but concentrated in ownership and far from modern banking, and full integration with the European financial market remains unclear.
These weaknesses are result of ineffective government intervention, constitute a regulatory failure and have consequences - a capital market that fails to generate adequate investment opportunities for Bulgarian capital and to finance high value-added projects, bank concentration with all the negatives on depositors, borrowers and investors, unfulfilled financial integration with effects on the entire national financial system and ultimately, the colossal loss of national income.
-
Ventsislava Nikolova
Assessing Competitiveness of Staff in the Trade Enterprise
Summary:
The present study is aimed at clarifying the nature of competitiveness of staff and its relationship with the results of the work of employees. Based on the analysis of the literary sources, a systematization of views on competitiveness of staff is presented, the factors of influence and as well as the qualitative characteristics of human resources affecting competitiveness are discussed. A classification of the types of personnel competitiveness has been developed and the stages of its development have been analyzed. A model is proposed to assess competitiveness of staff and data from its application are presented.
-
Asen Angelov
Assessment of the Expected Impact of the Structural Funds according to the HERMIN Model applied on the Labor Market
Summary:
The current research is focused on the problem of the impact of the Structural funds on the labor market I Bulgaria. The special attention is given to the future impact on the market and resulted market situation, based on the solutions of the problem for achieving more precisions prognosis of the upper impact. The prognoses trends of the HERMIN model are defined as cyclical functions of the time for more accurate description of the labor market changes – employed people, the population under labor active age and the people in pension too.
-
Nikolay Zhivkov
Parliamentary Governance and Democracy in Bulgaria (1878-1918)
Summary:
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.
-
Chad Van Schoelandt, Ivan Jankovic, Walter E. Block
Rejoinder on Free Will, Determinism, Libertarianism and Austrian Economics
Summary:
Block (2015) claimed that the free will position is correct, that of determinism incorrect, and that libertarianism and Austrian economics are compatible with the former but not the latter. Edelstein, Wenzel and Salcido (2016) criticized Block (2015) on the grounds that. The present paper is a rejoinder to EWS. It argues that determinism is incorrect; that free will is correct, and that freedom of will is important for both Austrian economics and libertarianism.
-
Walter E. Block
The One Article at a Time to a ‘Customer’ Rule in Academic Journals
Summary:
Some journal editors of periodicals ostensibly libertarian oriented yet practice an editorial policy with would be in other contexts seen as anathema to this philosophy: to wit, affirmative action. The present paper documents this case, offers a criticism of this practice, and considers several objections to its thesis.
-
Galina Sillaste
Training of New Economic Intelligentsia as a Factor of Economic Restructuring
Summary:
-
-
Elitsa Petrova
Support for the Small and Medium Business in the EU
Summary:
The purpose of the paper is to present at various national and European legislative and desirable instruments and initiatives aimed at supporting small and medium businesses. Subject of the study are small and medium-sized enterprises, European policy. The present design consists of three main modules: the first "Modern Policy in SMEs", the second module, "Entrepreneurship and public-private partnerships", the third module, "Support for EU businesses."
-
Zhaneta Angelova
Approaches and Practice in Determining the Social Security Contribution to Public Social Insurance
Summary:
The social security contribution is a key element of the mechanism of functioning of public social insurance and it has decisive importance with regard to its financial organisation. It is the main and typical source of income of any insurance system. The social security contribution is defined as a percentage of the received labour income and represents a general average value, corresponding to the average risk for the pool and it is due only for income from personal labour activity, with regularity and periodicity arising from the regularity and periodicity of the received personal job income. The aim of the paper is to outline the guidelines for development and improvement of the organisation of the social security contribution in the public social insurance in Bulgaria, taking into account the approaches and the practice of determining the social insurance contributions in some EU countries.
-
Donika Stoyanova
The Impact of the Quality Management Systems on the Activities of Bulgarian Furniture Producers
Summary:
Quality management systems (QMS) undoubtedly are able to bring a number of positives in the organizations that made the decision of their implementation. They can contribute in improving the image of the enterprise to the clients and the other stakeholders; lowering the cost of internal and external nonconformities, optimizing the organizational processes and numerous other positive effects.
The article presents the results of a survey of Bulgarian furniture enterprises in the period 2015-2016 aimed to find out the benefits, realized due to implemented quality management systems.
-
Sosthene Codjia, Walter E. Block
Economic Development Policies in West Africa: Making the Case for Free Enterprise
Summary:
Economic development in Africa and everywhere else for that matter, is furthered by capital accumulation. And this is fostered by economic freedom and private property rights which encourages the saving and investment which are the sine qua non of economic growth. The present paper attempts to make this case with regard to the African continent.
-
Nadezhda Dimova
Pop-Up Shops - the New Trend in Retail
Summary:
New trends in retail impose new paradigms and new challenges not only on marketing activity but also on business successes of companies as a whole. Sometimes online sales are not enough to meet consumer needs. A new strategic approach lies in the creation of the pop up shops. They are new, interesting, evoke emotions, create consumers a sense of expressiveness and urgency of the purchase, and at the same time provide good profits to companies that risk creating them. Only the future will show how successful the combination of traditional retail and pop stores are.
-
Nora Nikolaeva
Post-crisis or Back to the Future and Beyond
Summary:
The main goal of the article is to define the fundamental reasons due to which the world’s leading economy has fallen into the conditions of global crisis. The advantages of the philosophy of spiritual pragmatism are revealed in search of valuable foundations of the modern world. The article is considering the need of spiritual and valuable reincarnation and the possibilities of economic alternatives and a better thinking along this line. The latter have been represented through the prism of holistic approach.
-
Marina Nikolova
Posibilities for Ecologically-Oriented Utilization of Agricultural Biomass
Summary:
Biomass contributes the major share to the renewable energy sources (RES) potential in Bulgaria. A considerable amount of biomass is produces as a result of breeding animals, growing various crops, storing waste, maintaining green areas in the public sector or recycling waste waters.
An important mechanism for effective utilization of energy and biomass energy, in particular, is communal energy planning. Municipalities, micro-regions and regions should develop and strategically consider systems for utilizing separate energy sources, including biomass. For this reason, modern ecologically-oriented energy production technologies are of great importance for the local economies of each particular region and also lead to improvement of their ecological balance. With reference to this, it is necessary to make a timely assessment of the effectiveness and potential for electricity production form biomass in Bulgaria.
-
Julia Nikolaevna Hristova Petkova
Consumer Evaluation of Competitiveness of Importers of New Cars in Bulgaria
Summary:
The competitiveness of the commercial business is a topical and important problem of modern society and economy. The ability of business organizations to seek and use best sources of competitive advantage, from external and internal environment determines their survival in a dynamic market environment. Due to lack of time and resources most companies do not conduct systematic market research and often make management decisions based on incomplete information, best practice or intuition. Meanwhile, the company's products are intended for the consumers and their perceptions are often subjective and irrational, that requires their study. The main aim of this article is to identify the sources of competitive advantages, which are based on consumer evaluation of competitive position of the enterprise.
-
Radka Andasarova
Practical-Applied Model for the Recognition of Impairment Losses for Defaulted Exposures in Commercial Banks
Summary:
The Bulgarian banking system has the practice of determining the impairment losses, which is entirely built on the concepts of Ordinance No.9 of BNB, cancelled in April 2014. After its cancellation any bank credit institution must take action to establish a new policy for the recognition and measurement of their risk exposures and on these grounds to take action to determine the extent of devaluation for a credit risk. In connection with this, the parameter "defaulted exposure" can be used for the purposes of internal bank systems for the recognition and measurement of risk exposures in the decision for the recognition of impairment for credit risk. Defaulted exposure can be defined as an indicator of the level of risk that a bank can take, depending on the ability and desire of a borrower to meet their obligations on the debt. The defaulted exposure is equal to the carrying value of the exposure calculated by the applicable accounting standards.
-
Polina Dimitrova
Practical and Applied Aspects in Investigation of Impact of Material Funds over Liquidity of the Firms in Subbranch "Nuclear energetics"
Summary:
The opinion that ratio of current liquidity can’t represent as accurately financial firm position as ratio of quick liquidity is widely spread in economical literature and practice. This statement is based on the idea that material funds require large time period to become financial resources. This article represents an empirical analysis about impact of material funds over liquidity of NPP Kozloduy, which is the only nuclear power-plant in Bulgaria. Our empirical analysis shows that the structure of NPP Kozloduy’s material funds has little impact over its liquidity. Thus the ratios of current and quick liquidity both represent the same information about short term financial status of the firm.
-
Snezhana Blagoeva
Preliminary Evaluation of the Effect of the European Green Deal on the Agricultural Sector in the EU
Summary:
The European Green Deal is a new strategy for the overall development of the EU, which horizontal nature leads to the creation of regulations and requirements simultaneously affecting several economic sectors and policies. Assessing the effect of the Green Deal on the agricultural sector requires looking at the overall situation created since its adoption. The purpose of the article is to review the individual elements of the Green Deal and the regulations based on it, in order to identify the potential effects on the agricultural sector. The assessment should consider not only the direct impact on production, exports, competitiveness and farmers' incomes, but also on food prices and food availability. The contribution of agriculture to climate, natural resources and biodiversity should also be taken into account.
-
Atanas Atanasov, Galina Chipriyanova, Desislava Aleksandrova
Challenges in the Development of the Accounting Information System of Public Enterprises Listed on the BSE
Summary:
The significance of the accounting system of public enterprises listed on the BSE, in its entirety, is of fundamental importance for the economic and financial development of the country. It plays a key role in the management of these enterprises, their relationships with investors and society, as well as in risk management and compliance with regulatory requirements. This study aims to identify the specific characteristics of accounting for enterprises of public interest. The following tasks are addressed in the paper: 1) the requirements for accountability and transparency in the context of improving their accounting practices are examined; 2) special attention is paid to ethics within the functioning of the accounting information system (AIS) in the management of the enterprise of public interest; 3) a review of the reporting of enterprises in relation to sustainability is carried out. The thesis defended in the paper is that an effective and efficient accounting system contributes to the sustainability and success of public enterprises and enhances trust in the investment environment of the country.
-
Radoslav Gabrovski
The Challenges in EU Business Environment: Possibilities or Problems for the Bulgarian Firms
Summary:
The paper focuses the attention upon some of the most significant challenges the Bulgarian business is to be faced with after joining with the EU. Highlighted the main areas and reasons for the difficulties and problems the country would probably suffer in the new business environment. The author’s concept is that amongst the many efforts the Bulgarian companies would need to meet the rigid requirements of the new business-logic in EU market, business-re-engineering and risk management are of primary and utmost importance. From that point of view, some of the key areas and suggestions are briefly outlined below.
-
Penka Shishmanova
The Key Challenges of Knowledge-based Economy Facing Some Countries of the Balkan Region (Greece, Bulgaria, Turkey)
Summary:
This paper analyzes the progress of three Balkan countries – Greece, Bulgaria and Turkey, in building a knowledge-based economy. For this purpose we employ the Knowledge Assessment Methodology – KAM/ of the World Bank and, in particular, a system of indicators integrated into four supporting “pillars” – economic initiative and institutional environment, education, innovations, information and communication technologies.
Based on that, we compare the accomplishments of the respective countries, uncover the common ground and the differences between them, outline their weaknesses and comparative advantages, high-light their particular problems and lay down their potentials. All of this in the long run is intended to outline the key challenges of knowledge-based economy facing each of the three countries and the Balkan region at large.
-
Mihail Chipriyanov
The Advantages of Competitive Strength Report for the Strategic Management
Summary:
The Competitive Strength Report (CSR) is a method for strategic researches and decisions concerning strategic competitive strength of the company. Its applying pursue of determination on the current condition and the perspectives towards development of the competitive strength, which makes easier the elaboration of the strategic decisions and determination of the resources necessary to its implementation. Using CSR contributes to introducing a higher degree of analytic thinking in the strategic planning and managing processes as a whole as well as in the various particular stages.
-
Borislav Atanasov
Providing of Consumer Value Through the Price
Summary:
The price is an element which is present in every sale-trade. It is a source of information for the price offering of goods from the same or similar commodity groups, and it is a criterion when the different alternatives are compared and chosen. Therefore it participates in the process of creating and providing of consumer value. Different approaches of providing of value through the price, published in the literature and applicable to the retail trade are presented in the article. Based on that, the differentiated value through the price for every approach derived from the end users in the purchase process is also brought out.
-
Yavor Stanev
Entrepreneurship as a Possibility for Employment (Self-Employment) and Development of Small Localities in Bulgaria
Summary:
This paper focuses on the resuls of conducting a seven-year real experiment that is still ongoing and in the course of which we have faced many challenges. The key points in the construction of an agricultural holding, whose main activity is the production of quality bee products, have been discussed. The article compares the two main types of farming – conventional and organic. Both their strengths and weaknesses have been presented. All data and indicators correspond to real prices and results. The study is entirely focused on practice and aims to show young people in Bulgaria that they can make a career and develop in their native places, instead of seeking livelihood in large cities or abroad.
-
Elena Aleksandrova
Transfer of a Sole Trader Proprietorship through Transaction – Commercial and Tax Aspects
Summary:
This report provides an analysis of the legal framework of the transfer of a sole trader proprietorship through the deal. Discussed are some controversial issues related to the transfer of public duties in this type of transaction, as well as liability to the transferor. This paper examines the taxation of transactions with a sole trader discussed are cases in which it may be tax evasion. There have been suggestions for improvement and change in legislation concerning the taxation of income of the sole proprietor of transferring his business.
-
Zornitsa Petkova
Application of Competency-Based Approach to Customs Control Training
Summary:
In recent years, the competency-based approach has become especially popular in the field of human resource management in all social spheres. This approach is fundamental in today’s higher education and guarantees the high quality of training. To be successful in the dynamically changing environment, young graduates need a wide range of competences. The paper corroborates the advantages of applying the competency-based approach to the training of students in customs control, which provides them with the general and specific competencies they need as customs administration officers.
This paper aims to investigate the theoretical aspects of the competency-based approach in order to corroborate the need of its application in the training of students in Customs Control in order to provide them with the general and specific competencies required by the customs administration. In order to achieve this goal, the author has set the following objectives:
- to define the characteristics of the competency-based approach and the specific usage of the terms “competence” and “competency”;
- to identifies the possibilities for applying the competency-based approach in the training in Customs Control;
- to develop and approbate a competency-based model in the course of Customs Control;
- to analyze the results achieved with the competency-based model in the course of Customs Control.
The paper proves the thesis that the competency-based approach applied to the learning process in the course of Customs Control provides opportunities for training competitive specialists who meet the requirements in this field.
-
Mihail Chipriyanov, Galina Chipriyanova
Field of Application of Decision Support Systems (DSS) in Photovoltaic Project Management
Summary:
The article focuses on current issues in the field of application of Decision Support Systems (DSS) in the management of photovoltaic (PV) projects. In the era of renewable energy growth and the increasing need for environmentally sustainable solutions, PV projects are becoming increasingly important. In order to successfully execute such projects, informed decision-making and optimal resource utilization are required. One effective solution in this direction is the implementation of an integrated DSS, which supports the decision-making process. The article assesses the functions of DSS in PV projects, with a particular emphasis on its capabilities for data management and analysis, scenario analysis and simulation, as well as risk assessment and management. Using the case method, the importance of DSS in improving decision-making, optimizing resource allocation and increasing the efficiency of PV projects is argued.
-
Yuriy Kuznetsov
Implementation of Best Practices of a Protection of Internet Infrastructure of the High Schools in Bulgaria
Summary:
The communications infrastructure of universities is a target of constantly increasing and new in type attacks and threats. The implementation of best practices of protection of the public information infrastructure leads to increasing its security and provides effective data protection. The analysis of the implementation of these practices at universities in Bulgaria shows that adequate attention to information security in this type of organizations has not been paid.
-
William Barnett Ii, Walter E. Block
Involuntary Unemployment
Summary:
Our claim is that in the purely free enterprise system, there can be no such thing as involuntary unemployment, as long as wage demands are in accord with expected productivity, as perceived by the potential employer. Seeming counter examples are shown to violate one or more of these conditions. Nevertheless, there is great resistance on the part of professional economists to this axiomatic claim. The second part of the paper attempts to probe the cause of this resistance, and finds in praxeology, a rejection of Keynesian economics and psychological analysis, the cure for it.
-
Valeriy Ivanov
Principle of Mind
Summary:
-
-
Penko Dimitrov
Set-Off as a Means for Extinguishing Financial Obligations
Summary:
The widely spread monetary character of financial receivables and obligations allows the use of the legal concept of set-off in financial law as well. This article considers the influence of the specificities of regulated public relations and the sovereign method applied in financial law on the requirements and the conditions for the use of set-off for the purposes of the discharge of financial receivables and obligations.
This article analyses the general and the special legal framework regulating the the requirements and the conditions for the use of set-off for the purposes of the discharge of financial receivables and obligations. It considers different cases where the set-off of financial receivables and obligations is allowed – set-off by revenue organs, set-off by the organ competent to determine the financial obligation, set-off during an enforcement procedure, as well set-off of financial receivables and obligations in accordance with certain special laws.
A particular attention is given to the sovereign act on the basis of which the set-off of financial receivables and obligations is performed – the set-off act, as well as the organs competent for its issuance.
-
Iliyana Krysteva
Problems and Trends in the Development of the Fisheries and Aquaculture Sector in Bulgaria
Summary:
The „Fisheries and Aquaculture“sector is important not only in Bulgarian agriculture but also in the national economy as a whole. This sector contributes to protecting the environment, protecting biodiversity in aquatic ecosystems in Bulgaria, supporting the restoration and maintenance of valuable fish stocks in natural ponds and sustainable aquaculture development. This important business sector has still untapped potential for developing and creating additional jobs that are becoming more and more important in today's consumers' pursuit of healthy eating and the growing demand for fish and aquaculture.
-
Yuliyan Gospodinov
Problems in defining the nature and framework of public-private partnership in Bulgaria
Summary:
Public-private partnerships (PPP) are part of the general change in the activities of the local authorities in their research for new forms of municipal management. An undeniable fact is that the last few decades have been accompanied by the strengthening of this partnership in countries transforming from planned to market oriented economies. The article examines the opinions of both individual authors and institutions, exploring the nature and the legal framework of the PPP. The result is that there has not been made a single opinion on the matter. They are all seeking a summary, starting from the agreed views in the documents of the European Union. However, there is a problem that they are not sufficient for full implementation of PPP schemes, because of the national laws of member states, including Bulgaria, and the sovereign right of each country to regulate the issues, regarding these partnerships independently.
-
Viktor Monev
Problems Related to Assessment of Business Foreign Language Knowledge and Skills
Summary:
The Foreign language teaching is related to the achievement of predetermined goals. In the field of the language for general use, these goals are oriented towards teaching phonetic, lexical and grammatical knowledge of language skills and their application in communication between people. The checking of the knowledge takes place frequently through tests, allowing a relatively objective assessment by the teacher. In the case of teaching a foreign language for special purposes these objectives are extended through specific vocabulary, common used grammatical structures and the ability to work with technical texts, which allow professional communication. Creating tests and their use in practice requires the inclusion of elements that check the level of knowledge of the specialized language.
-
Diyana Ivanova
Problems in the Structuring and Building the Administrative Capacity of the Internal Audit in the Public Sector in Bulgaria
Summary:
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.
-
Diyana Ivanova
Problematic Aspects of Public Procurement in Bulgaria and Possibilities to Restrict it by Optimizing Internal Control
Summary:
Public procurement is a mechanism for spending public funds and the control on its awarding and execution processes helps to respect the law in this aspect of public sector governance. The topic is both socially important and particularly relevant, given the public procurement reform at European level, which has caused changes in our country, too. This paper studies some problematic aspects of public procurement implementation in our country. The emphasis is placed on substantial violations and proposals are made for limiting them by increasing the effectiveness of internal control.
-
Valentin Panayotov
Problem Areas in the Activities of Management Consultants
Summary:
The article reveals the main problem areas in the activity of management consultants. For successful implementation of consultancy projects, it is important to select consultants with the necessary competencies and qualifications. Emphasis is placed on the appropriate personal characteristics that have a great importance on cooperative working with the client. There are those whose importance is difficult to assess, but which can have a very deep impact on the outcome of counseling. These include the consultant's belief system, source of motivation, personal ethics, objectivity, honesty, and loyalty. It is very important that these qualities appear as early as possible in the communication between the consultant and the client
-
Mihail Chipriyanov
Product Benchmarking Research
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 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.
-
Kristiyan Hadjiev, Nadia Marinova
Project-based Management/A Project Perspective of Management
Summary:
This article examines theoretical and methodological traits of project management and their practical dimensions. It proposes a project-based management perspective and argues that this perspective enjoys the flexibility enabling an organization to respond to volatile environmental stimuli, to foster its creative capacity and to maintain its competitiveness. The proposed conceptual principles and models are elicited by analyzing the structure of the management process and examining its impact on the achievement of various strategic (project) goals. Finally, we identify specific team characteristics and leadership responsibilities conducive to best results in project management.
-
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.
-
Ivanka Tsoneva
The Change of Public Opinion - Psychological Methods
Summary:
The methods for changing public opinion can be explained by classical and new concepts of applied psychology. Different variants of bilateral verbal communication are analyzed. Emotional approaches for changing public opinion are explained by the theory of commitment and consistency in actions.
-
Andrey Zahariev
Prospective Reflections on Human Capital
Summary:
Guided by the understanding of the pulsing nature of economic thought, in this article we set ourselves the task of developing prospective ideas and grasping of the past, the present and the future of the theory of the investment in human capital as responsibility of the key economic agents: the government, the companies and the households. The structure of this study consistently reviews the historical development of the human capital theory. It gives the corporate point of view within the range of views of financial management of human resources. It gives prospective argumentation of possible evolution lines of human capital knowledge. The developed verbal-graphic model of investments in the formation of human capital adduces arguments in support of consolidation of the five types of activities for formation of human capital with the three sources of resources, aimed at human capital in its individual and national (global) dimension. In the course of research the conclusion is derived that there is no need to counterpoise capitalism and talantism but on the contrary, through capitalism (the world of capital) the era of talantism (the world of intellect, faculties, family values and talent) should be promoted.
-
Georgi Tihomirov Lichev
Study of the Behaviour of Bulgarian Costumers in the Purchase of Sugar and Chocolate Products
Summary:
The activation of the scientific interest in the field of consumer behaviour is dictated by the immediate practical necessity on the contemporary stage. This article focuses on studying the behaviour of Bulgarian consumers in relation to the product group "sugar and chocolate products". This is based on an empirical survey conducted on consumers in Bulgaria. The effort to gain insight into the depth of consumer motivation and to work to increase satisfaction is well-founded, coupled with the gaining of competitive advantages. The complex situation of the consumer market is a prerequisite for many controversies, difficulties, challenges to which commercial enterprises should take a responsible attitude.
-
Borislav Borisov, Teodora Filipova, Evelina Parashkevova Velikova
A Process of Implementation of Investment Projects within the Scope of Corporate Innovation Activities
Summary:
The innovation activities of the Bulgarian companies lag behind the development of innovation culture and business attitude. The problems are due to the lack of information about the characteristics of the innovations as well as the insufficient knowledge on the investment practices in this field and the available financing programmes. By means of the process approach the article aims to clarify the nature of investments and innovation, innovation project management and the possible sources of financing. An attempt has been made to justify the need for a methodology of investment projects implementation within the scope of corporate innovation activities as well to formulate some principle requirements for it.
-
Yordan Yordanov, Zhaneta Angelova
The Public Pension System in the Conditions of Covid-19 – Short-Term Effects and Long-Term Challenges
Summary:
The emergence and spread of Covid - 19 in late 2019 and early 2020 posed an unexpected challenge to the development and progress of modern society. A series of restrictions aimed at limiting the spread of the disease have had an adverse effect, both economically and socially. Overcoming the unfavourable consequences of the pandemic is becoming a priority for the development of modern society, engaging a significant amount of public resources and testing the mechanisms of social protection systems. The aim of this study is to highlight the short-term effects and long-term challenges facing the public pension system in pandemic and post-pandemic environments, as a basis for outlining the directions of its development and improvement.
-
Mariyana Bozhinova, Petranka Midova, Simeonka Petrova, Ventsislav Perkov, Mariana Kuteva
Development and Competitiveness of Retail Chains in Bulgaria
Summary:
The development of commercial chains in Bulgaria was caused by the benefits they provide to customers. In the last two - three years there is strong interest of foreign retail chains to the Bulgarian market. National chains, in turn, expand its network of stores in various cities throughout the country, and some of them even think of expansion abroad.
The survival and the development of the commercial chains in a market with strong competition is connected with the identification and the use of sources of competition advantages as well as the permanent evaluation and analysis of their competitiveness – a subject of research in this work. Based on this conclusions are drawn and recommendations are made for increasing the competitiveness of the commercial chains.
-
Rumen Erusalimov, Nikolay Valeriev Iliev
Development of Motor Third Party Liability Insurance
in Bulgaria
Summary:
The main objective of the study is to assess the current state and prospects for the development of the insurance "Motor Third Party Liability" in Bulgaria.
The dynamics of the realized gross written premium income generated by insurers and the insurance payments made by them during the period 2010-2021 are tracked in the study. The state of the insurance "Motor Third Party Liability" in Bulgaria has been evaluated using the indicator "Net Claims Ratio".
Based on the conducted research, it was concluded that the "Motor Third Party Liability" insurance product is profitable and has consistently held the leading positions in market share since 2010. The trend indicates that this is likely to remain unchanged in the near future.
-
Momchil Marinov
Development of Industrial Fire Insurance at JSIC "Ozk-Insurance" JSC
Summary:
The main purpose of the study is to assess the state and prospects for the development of the "Industrial Fire" insurance policy offered by JSIC "OZK-Insurance" JSC.
The article traces the dynamics of gross written premium income realised by the insurance company and the insurance payments made by it for the period 2017-2021. Thanks to the calculated loss ratio, the status of the "Industrial Fire" insurance policy, offered by JSIC "OZK-Insurance" JSC was revealed.
On the basis of the conducted research, it was concluded that JSIC "OZK-Insurance" JSC has good opportunities for the development of "Industrial Fire" insurance.
-
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.
-
William Barnett Ii, Walter E. Block
Spreading the Benefits of Productivity Increases: Price Increases, Decreases, or Both? A Critique of Baumol on Subsidies to the Arts
Summary:
This paper attempts to grapple with the market mechanism through which growth in one sector of the economy spreads to other sectors. It calls into question Baumol’s argument for subsidies to the arts and by extension, to other economic areas that have not enjoyed productivity increases.
-
Tsvetelina Kabakchieva
Organic Farming - the Future of the Agricultural Economy of Bulgaria
Summary:
Organic farming owes its emergence, existence and principles to the nature itself, while the fundamental rule of its practice is to be in harmony with it, without harming it. In fact, it is a new perception of the environment and a new attitude towards its protection, both now and in the future. Organic farming combines the best environmental practices, high biodiversity, the conservation of natural resources and high production standards based on natural substances and processes. It also corresponds to a specific market that responds to specific consumer demands while at the same time it provides public goods that are in terms with environmental protection, animal welfare and rural development.
-
Svetoslav Borisov
Regulatory and Tax Challenges to Cryptoasset Market
Summary:
Many potential benefits of crypto assets for the financial sector are widely recognized, including cost savings, improved efficiency and transparency. The proliferation of cryptocurrencies and the remarkable expansion of novel economic practices associated with them pose an unprecedented challenge to established norms of taxation and market regulation. Currently, at the EU-wide level, there is a regulatory gap, which contributes to legal uncertainty and weak investor protection. The European Commission took the first steps to assume its competence over all crypto assets within the EU and, after a comprehensive review of the entire crypto assets ecosystem, issued a proposal for a regulation on markets in crypto assets. The EU legislative initiatives seek to unlock the potential of crypto-assets while mitigating the risks to financial stability, market integrity and consumer protection. This will lead to additional and better financial products for consumers, improving financial inclusion and financing of businesses. This study analyzes the regulatory achievements and challenges to overcome the widespread implementation of blockchain technology and the use of cryptocurrencies. The strengths and weaknesses in the tax practices for taxation of virtual currencies in some countries are discussed, and the emphasis is on the possibilities for overcoming the problem of tax evasion.
-
Ivanka Daneva
Regulation of Pension Fund Investments in Bulgaria – Developments and Trends
Summary:
The experiences sharing in relation to the pension reform in Bulgaria is very interesting because Bulgaria was one of the first countries in Eastern Europe to embark upon pension reform in the early 1990s.
This statement is divided into three parts:
• Brief overview on the Bulgarian Pension Reform – the stages of its implementation; the main features of the reform and development of Pension funds in the country;
• Describing pension funds investments regulation almost 9 years after the beginning of the pension reform; amendments of pension legislation related to investments of pension funds assets;
• The last part consists of the main forthcoming changes in regulation and I will try to make some concluding comments.
-
Boryana Ilieva Evlogieva
Order, Chaos, Control
Summary:
The accent is on the necessity to rethink the chaos as having considerable potential for the realization of unusual management practices. The crisis in the value system is a factor that causes disorder and the permanent values presume order. The article examines the relation between the social system and the natural environment, some management models in the aspect of the following categories: order, chaos, management, individualism and holism.
-
Alla Ozeran
The Results of Implementation of the International Financial Reporting Standards in Ukraine: Problematic Issues and Solutions
Summary:
In May, 2011 Verhovna Rada of Ukraine amended the law “On Accounting and Financial Statements in Ukraine”, according to which domestic enterprises, and foremost joint stock companies, banks, and insurance companies are obliged to prepare and present financial and consolidated statements in accordance with the International Standards of Financial Reporting (IFRS) from 1st January, 2012. One of the main problems of transition to IFRS is considered to be the short timeframe for their implementation. The paper presents research of the process of the reformation of the Ukraine’s system of accounting to generally accepted world principles and standards, necessitated by country’s independence gained in 1991, changes in the economic system and the country’s intention to be integrated into the European Union. The research provides main stages of reforms conducted, as well as results achieved on each stage; the article analyses and provides solutions to problems and difficulties connected with the implementation of the IFRS in Ukraine.
-
Nonka Bogomilova
Religious Strands in the Capitalist Spirit and in the Western Civilization: Max Weber
Summary:
The author analyzes Max Weber’s approach to religion as part of the German sociologist’s general theoretical task: the analysis of the distinctive features of Western Civilization. In this theoretical perspective the article examines Weber’s approach to the other world religions (in the studies on the economic ethics of world religions) and specifically his comparisons between them and the formation and values of Western civilization. Weber involves religion in seeking the answer to his “network of questions” (R. Bendix); religion appears as the moral component influencing the “worldly” behaviour of individuals as members of a particular status group. The article presents Weber’s interpretation of the great religious systems, which was centred on the status groups of religious leaders; this approach is a challenge to the Marxian interpretation of religion as merely a reflection and product of economic relations in society. One other important element of Weber’s self-reflecting method is also stressed: the fact that he examined religions separately, not as part of an interconnected historical chain and in consecutive order, as Toynbee would later do. The article examines in a critical light the frequent overemphasizing in literature of the role Weber assigned to religion for the birth of the capitalist spirit. The interaction between material factors and interests, and spiritual ideas and incentives characterizes the essence of Weber’s approach to the analysis of social phenomena: the birth and specific features of capitalism and the particularities of Western Civilization.
-
Rosemary Papworth
Reflective Practice and Personal Development Planning for Undergraduates Studying Business and Economics
Summary:
This paper looks at reflective practice and personal development planning both from and academic and business point of view. As will be demonstrated, these skills are of fundamental importance to students wishing to pursue a career in the business world in order to properly reflect on their current practice and to further develop their knowledge and skills in a knowledge-economy based environment where human capital can be seen to be their most valuable asset. Firstly, the definition and process of reflective practice will be examined in both the academic and professional world. Personal development planning will then be examined in its relation to reflective practice and how it has already been implemented in the UK. Finally, we will look at how these processes and activities can be integrated into the academic environment.
-
Galya Taseva
Bankruptcy Risk in Small and Medium-Sized Enterprises in Bulgaria
Summary:
The bankruptcy risk study for SMEs in Bulgaria is based on data from the financial statements of 100 non-financial firms with different main activities for the period 2014 - 2016, provided by the National Statistical Institute. The results of the study show that the implementation of well-established models of bankruptcy prediction, such as those of Altman, Springate, Taffler and Biever, may serve as an indicator for financial distress, but it is not sufficient to assess the risk of bankruptcy in Bulgarian economic conditions.
The survey results suggest that the coefficient Cash flow from operating activities / Current Liabilities has the potential to serve as an indicator of the differentiation of companies that are threatened with bankruptcy in the short term and even has some advantages over the models of Altman, Springate, Taffler and Biever in Bulgarian economic conditions. Given the high levels of the gray economy in the country and the widespread practice of manipulating the financial statements, it is reasonable in the analysis of bankruptcy risk to use in addition to the balance sheet and income statement indicators and such indicators incorporating information on the cash flow from operating activities of SMEs that is more difficult to manipulate. The large share of overdue and uncollectible receivables from clients in the country also presupposes using cash flow information to analyze bankruptcy risk. The Altman, Springate, Taffler and Biever models contain only in-company balance sheet and corporate income statement information and are not tailored to capture the systemic risk that creates high inter-firms indebtedness in the country, and in particular the high proportion of overdue trade receivables.
-
Dimitar Trendafilov
On Rituals of Hurting and Killing People - the Significance of Some Aggressive Ritual Practices Occurring in Cultures and Cult Movies
Summary:
Rituals are an integrated and important part of common life in societies (even the most complex ones), in fact, they are an essential part of culture as mechanism of sharing information and meaning between its members by means of words, gestures, roles and performances. What makes them different and crucial are first of all their extraordinariness and the enduring imprint they leave on the community consciousness. We could encounter them in different kinds and formats, woven into the texture of life and cultures, as sacred practices, games, parts of narratives (mythological and/or pop-cultural). The following pages are dedicated not especially to the nature of ritual itself but more accurately to those rituals existing across cultures and familiar texts in which human aggression and deadly violence participate as a main element. Furthermore, emphasis is put on the acts of killing or maiming other men in which efficacy goes beyond the brutal murder. The efforts and the tools devoted to the topic are interdisciplinary and probably they would not be fruitful if we examined the ritual from one perspective only. The paper takes two samples from different cultures in which we could observe violent acts not as damaging the community but as sanctioned by. In addition, ritual representations in popular movies are analyzed such as The Godfather, Pulp Fiction and The Passion of the Christ as case studies. The latter are very useful examples uncovering the characteristics and structure of the initiation and/or transformational rituals which includes use of violence and even killing(s).
-
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“.
-
Nina Suhovich
The Role of Small and Medium Enterprise in the Development of Moldavian Economy
Summary:
Orientation of the Republic of Moldova's European integration, the signing of the Agreement on Partnership and Cooperation between Moldova and the European Union and Action Plan led to new requirements for the organization of manufacturing. In circumstances where it is necessary to increase production, which is very important for Moldova, a small business is particularly important.
-
Anna Suhovich
The Role of Direct Foreign Investments in Economy of Republic of Moldavia - in the Light of European Integration
Summary:
The achievement of the standards established by the EU in different fields means the activation of the investment activity support in stimulation of direct foreign investments. The principal conditions for the facilitation of foreign investments are: the creation of different conditions for the augmentation of employments, the development of small and middle enterprises, the augmentation of the exports and the activation of the search-development.
For obtaining the facilitations, as for the local and for the foreign investors, the mainly condition is the same condition.
-
Branimira Assenova Koleva
The Role of Materiality and the Correct Assessment of Audit Risk in Issuing Quality Audit Report
Summary:
The Certified Public Accountant (CPA) has to take an oath before the independent financial audit may commence. Everyone has to comply with the code of ethics, perform a quality and independent work. This paper is aimed at supporting the work of auditors by providing theoretical knowledge and illustrative examples on the definition and use of audit materiality.
Each of us is a user of financial statement information, however we may not always understand from the audit report if there is an unqualified (clear) opinion (in terms of volume). This is due to the fact that the audit materiality is stated in the audit file and not considered valuable in the audit report. In addition, the audit materiality is not a public information and any errors below the level of materiality remain in the audit file. What is the level of materiality determined by the auditor, what are the rules that have led to define it? This remains confidential information.
The core of the audit is to determine the audit risk, the level of materiality and gathering audit evidence. Quality work performed by the auditor ensures audit quality. It is difficult to determine audit quality as this does not get clear from the auditor's report. Therefore, in order to better inform users of financial statements, it is required additional disclosures to be made in the audit report presented as recommendations in the study.
-
Emiliya Vacheva
Reports about the Economic Life and Commerce on Bulgarian Territory, According to Western European Sources (End of XII - XIV Century)
Summary:
This paper tries to reveal the concept of western authors about the Bulgarian economy based on a large number of sources.
-
Walter E. Block
Free Will, Determinism, Libertarianism and Austrian Economics
Summary:
This paper makes the claim that the free will position is correct, that of determinism incorrect, and that libertarianism and Austrian economics are compatible with the former but not the latter.
-
Walter E. Block
Free Enterprise and Poverty: Cause or Cure?
Summary:
Poverty in general is created by governmental mismanagement. The solution to the problem is the free enterprise system. Markets reduce poverty by promoting incentives and rational economic activity. Governments exacerbate it by attacking private property, regulating business, and through taxation. The problem of black poverty stems mainly from the breakup, nay, the failure to form, of the black family. This, in turn, is traced to governmental welfare programs.
-
Rumyana Chonova Stoykova, Vanya Ganeva
The Leisure of Pupils from Schools of Svishtov
Summary:
-
-
Kalina Kavaldzhieva
Cost of Electricity Produced from Waste Processing as a Prerequisite for Social Pricing
Summary:
In a period of energy crisis, deriving the cost of electricity is a significant problem. It appears as a significant contemporary challenge, and policies to control and limit it are the main priority of the European community on its way to a green economy. Depending on the tariff/price of electricity, which directly depends on its cost price, it is determined how much the population could afford to pay for their consumed electricity. Over 96 million Europeans are at risk of poverty and social exclusion. A population that would not be able to heat their homes in winter is about 57 million. Bulgaria is the country with the highest share of the poor and at risk of poverty, including energy-dependent households, which is also confirmed by the values of the Energy Poverty Index, according to which our country has the worst indicators among the member states of EU.
The current development draws attention to the specific features of waste-based electricity calculation. Method of pricing and formation of a sustainable model for formation of tariffs. The synergistic effect from waste processing to energy production is derived. Taxes paid and additional revenues from waste processing could positively affect the price of energy obtained from waste, i.e. to reduce cost and offset costs. This phenomenon can be used as a guideline for the development and improvement of social policy in the field of social tolerance and social support of the population in Bulgaria.
-
Todorka Atanasova, Nadka Kostadinova, Georgi Jeliazkov, Rumen Otuzbirov
Synergetic Paradigm and its Role in the Development of Agrarian Entrepreneurship in the Process of EU Integration
Summary:
-
-
Nikola Yankov
A Holistic Model and Methodics for the Business Development Process
Summary:
The problem is especially valid for the 2007 – 2013 ã., in which the Bulgarian economy has to be modernized and Bulgarian enterprises to be supported in their developmental efforts by special European and national strategic programes and funds. Applying for funding the enterprises has to create their own models. Due to this we present in the study possible conceptual models. They have to be available befor the real projects for business organizational development process starts. The development process needs a comprehensise methodics for the evaluation and strategizing. It is also presented in the study.
The object of the study is a holistic concept for approaching and for development of business systems to be presented. Before to start the real development of the business systems their management has to analyse and then to strategize them as networks. The relations between different managerial documents are also examined.
-
Polya Angelova
Farm Accountancy Data Network (FADN) in the Context of Agricultural Statistics
Summary:
The Farm Accountancy Data Network (FADN) is a partial representative survey for evaluating the income and economic activities of agricultural holdings in the European Union. The survey covers only holdings that are considered market-oriented or commercial and they form the field of observation. In this paper we present the methodological framework of the FADN survey with the emphasis on the basic definitions and main indicators describing the activities of the agricultural holdings. Further we clarify the criteria used for the stratification of the holdings, the sampling methods and the contents of the Farm Return questionnaire. More attention is focused on the specific application of the FADN in Bulgaria with statistical analysis of the main economic results of the agricultural holdings for the period 2004 – 2009.
-
Mina Kirova
The Operational Controlling System in the Insurance Company – Structure and Characteristics
Summary:
There are various understandings on the essence of controlling in literature.They could be generalized into two purposeful sides of the concept, namely: as a qualitatively new philosophy and as a management instrument of the business unit. In this expose these views are unified in one, in which the result-oriented management of the insurance company appears a way of thinking of the management team and at the same time the controlling assists the management by the necessary informationanalytical and methodical apparatus. Ultimately, the main idea of controlling is to ensure the accomplishment of insurer’s objectives by coordinating the realization of traditional managerial functions and providing, in due time, the information relevant for the managerial decision making.
The structure and organization of the controlling system is subordinate to the general theory of the system. Its development within the insurance company is accomplished on the basis of two supporting points: the first one is the personification and subjectivization of the links and interactions between the comprising elements of the system; the second is the technology of the implementation of the controlling presented as a process of consecutive actions of targeting, planning, reporting of expenses and operating results, the control and the information backup of the management team.
The characteristics of the operational controlling system are being displayed mainly upon the differentiation of the strategic from the operational controlling and are, at the same time, pre-determined by the necessity to reflect the specifics of the insurance activity. The latter determines the inclusion of the actuary’s technique and the insurance-technical analysis as elements of the controllership system, and the actuary-in-chief himself as a subject of controlling.
-
Teodora Spasova
Systematization of the Cloud Migration Approaches and Calculation of the Economic Efficiency from its Implementation in Bulgarian Corporations
Summary:
Large corporations have specific features which make their cloud migration difficult. Systematization of different approaches to transition from on-premise system to the cloud can facilitate the selection of a strategy by the management if the organization decides to make a migration step.
Migration to the cloud is generally profitable for organizations, but in order to justify the decision it is necessary to make preliminary calculations of some financial indicators. It is necessary to consider all possibilities for hidden costs, to evaluate the material and non-material benefits of migration.
The aim of the article is to classify and compare cloud migration approaches, to calculate performance indicators and to outline cloud service challenges to help managers in cloud migration decisions.
-
William Barnett Ii, Walter E. Block
Scale of Values Violates Singularism
Summary:
There is at the very least a tension between two basic building blocs of Austrian economics. The doctrine of singularism maintains that choice is inevitably and necessarily between two and only two things: that which is chosen, and the next best alternative, which is set aside. However, implicit in the concept the scale of values is the claim that choice can take place over many, many alternatives. If one of these has to be jettisoned, and we argue that one must be, then we vote for the latter.
-
Atanas Grigorov
The Hidden in the Text (4, 5, 6)
Summary:
"Hidden in the text" is an attempt to draw attention to the social importance of the issue of codes of culture. "Transitions" in modern culture determine themselves consistently, after that the associated change of codes, the change in attitude towards the text, the link between written word and language of visual communication, the abilities to extract hidden meaning in the text… To illustrate the latter serves as a reflection on two works of Roland Barthes - "The structural analysis of narrative" and "S/Z".
-
Asen Radev
Speech on the Book of Prof. Methody Kanev "Freeng from the Past"
Summary:
-
-
Krasimir Angelov Krumov
Software-Defined Networks as a Basis for the Information Infrastructure of the Future
Summary:
Increasing information needs in the corporate sector changed the generally accepted conceptions for design and construction of modern computer networks. Nowadays, services and applications being developed require flexibility and efficiency when using the capacity of the communication channels. The existing network architectures have the potential to fulfill this requirement, but at the cost of a lot of resources. That drew the attention of many specialists to a new architectural concept – SDN, which provides a better management for the network infrastructure of business organizations.
-
Vanya Ganeva
Social and Solidarity Economy – Democratic Association, Mutual Aid and Cooperation
Summary:
The author of this article attempts to clarify the nature, specificity and role of social and solidarity economy in the modern world. She also discusses to what extent it should be the focus of attention of economic sociology as a science in the context of the relation with its subject matter, and which approaches and theories in sociology and economic sociology can be used as explanatory models of social and solidarity economy.
The conclusion is that social and solidarity economy successfully combines the achievement of economic and social objectives. It contributes to social cohesion and inclusion, and plays an important role in integrating risk groups such as people with mental and physical disabilities.
Social and solidarity economy as part of the economy of a society is the subject of research by economic sociology as a science studying the social aspects of economic life. The theoretical approaches (for social networks, social capital, social nature of economic activities, etc.), developed in modern economic sociology, can be used as explanatory models of the processes occurring in social and solidarity economy.
-
Trayan Yosifov
Social and Economic Significance of Bulgarian Small and Medium-Sized Enterprises: SWOT Analysis
Summary:
Bulgarian economy remains within the periphery of more prominent economic processes. The country significantly lags not only behind leading European economies but also behind Central European economies, which used to have similar economic development in the early 1990s. In this respect, without a doubt, the emphasis should be put on the role of small and medium-sized enterprises, which form a fundamental part of the employment rate within the country and generate a major revenue part of the republican and local budgets. The purpose of this study is to focus on the main advantages and disadvantages of Bulgarian small and medium-sized enterprises and based on them to propose working measures for improving their market performance.
-
Hristina Atanasova
Specifics of Mutual Cooperation
Summary:
This article aims at delineating the specifics and the distinctions between mutual cooperative insurance societies, cooperatives (regulated by the general Cooperatives Act) and housing associations (regulated by the Housing Associations Act) by using benchmark analysis. This is achieved through following the historical development of the legal framework in the field.
-
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.
-
Gerganta Tsoncheva Petkova
Specificity in Disclosure of Segment Information
Summary:
The aim of this study is to highlight the main problem areas in the disclosure of segment information by transnational companies. In them is characteristic the broad diversification that is associated with operating simultaneously in different economic spheres and in different geographical areas, and this determines the relevance of the topic. This in turn gives rise to the need for adequate accounting information that presents activity by individual component segments. In the development of the article the methods of analysis, synthesis and comparison. As globalisation processes accelerate, the number of organisations operating in different geographies and economic areas. The variety of activities they carry out are characterised by different risks, opportunities for growth and rates of return, and in order to be able to evaluate and analyse these necessary to present their activity by segment. As a result of this study, the following stand out several key points in the disclosure of segment information in recent years by transnational companies, namely: providing the opportunity for external users to get a fuller picture of their activities; the provision of information on different types of business activities/segments and different economic environments helps to better understand and subsequent valuation of a company; allows for a deeper analysis of the the past development of the enterprise, etc.
-
Stanislava Stoyanova
Specifics of the Team Approach for Collection
of Management Decisions in the Modern Organization
Summary:
This scientific article examines the specific features and challenges of decision-making in terms of teamwork, and its main purpose is to present their role and influence in achieving efficiency in the management of modern organizations. It examines theoretical statements that describe the nature and some patterns of the decision-making process in the team form of activity, its stages and ambivalent characteristics. The emphasis is on the development of ideas about the role of the team in achieving effective management of organizations. After studying the above features, the basic factors influencing the efficiency in the process of making management decisions are derived.
-
Galina Chipriyanova
Specific Aspects of the Inventory of Assets in the Enterprises with Agricultural Activities
Summary:
Basic requirement in the activity of the agricultural enterprises is to present a true and fair financial and property status, accounted financial results and changes in cash flows. In the stage of preparation for the annual accounting closure most important precondition for this is to perform an annual inventory of assets, equity and liabilities. In the current research we will focus our attention on the inventory of assets in the agricultural enterprises.
-
Maya Tsoklinova
Comparative Analysis of Expenditure in the Central Government Subsector of Bulgaria and Greece according to COFOG for the Period 1998-2018
Summary:
It is essential to study and analyse government expenditure in order to identify trends in their development. Periodic reporting of trends in government expenditure allows economic agents to plan their business actions on the basis of objective information, reducing the uncertainty of the economic system. In addition, measuring the changes in the structure of government expenditures (especially the expenditures of the Central Government subsector by function of Classification of the functions of government (COFOG)) allows revealing the priorities in the provision of public goods. The goal of the article is to make a comparative analysis of the expenditure of the subsector "Central government" by functions of COFOG of Bulgaria and Greece and on this basis to reveal the trends in their development, as well as to highlight the differences in spending policies between the two countries.
-
Krasimira Slaveva
Comparative Analysis for Structural Changes in Export and Import of Bulgaria for the Period 1992-2009
Summary:
After 1989, in the Economy of Bulgaria a number of transformations were made, leading to significant economic reforms. The change in the organization of economic processes, the opening of the country to the world and the ability to access international markets, caused both structural changes in production and foreign trade. Commodity structure of foreign trade is a reflection of the status and structure of the national economy.
The article examined the foreign trade structure and dynamics of the general measurers of structural changes for the period 1992-2009. The study includes the establishment of changes in export and import structure and monitoring of trends in summary measures of structural changes. The survey results show that: compared with 1992, there are significant changes in the export structure; predicting of the dynamics of structural change in export and import is risky because of diverse change in 2007, 2008 and 2009; the foreign trade and its structure are important factors that determine both the direction and pace of development of national economy.
-
Daniela Feschiyan
Standardized Model for Subsequent Measurement of Fixed Assets in the Public Sector Enterprises
Summary:
This article addresses some shortcomings in the existing pricing model after recognition /post evaluation/ of fixed assets in the public sector enterprises. Prerequisite for the studied problem is the lack of standardization of the accounting system in the public sector enterprises. The author offers a standardized accounting model and argues that the problem can only be resolved with the adoption of accounting standards that would replace the current practice of regulation of accounting in the public sector enterprises with instructions and letters. The proposed accounting standard model for periodic assessment of fixed assets are designed ways and means to improve the accounting system of the public sector entities through its adaptation to the conceptual framework of international accounting standards for the public sector. This will increase the reliability and credibility of accounting information and the overall improvement of the accounting methodology.
-
Yasen Daskalov
Standardized Approach to Identification of Infrastructure Assets in Public Sector
Summary:
This paper presents accounting analysis of infrastructure assets as elements of fixed assets in the public sector. Infrastructure assets are significant assets for the public sector. Significant resources of the society are invested in these assets. This paper defines public sector assets and outlines major differences with the definitions in the private sector. This paper presents a comparative analysis of the regulations on infrastructure assets in the European Accounting Rules and International Public Sector Accounting Standards. The paper presents the main accounting policies applied in accounting for infrastructure assets in New Zealand, which is one of the few countries in the world that apply the full version of International Public Sector Accounting Standards. Some of the problems in accounting for infrastructure assets in Bulgaria have been systematized.
-
Todor Todorov, Margarita Shopova
The Statistical Quality Control – European Alternative of Quality
Summary:
The implementation of the statistical methods for quality control of the technological processes is an important approach that ensures a substantial increase in the quality of the production. The statistical methods for quality control are wide spread practice in the developed countries. On the contrary they are almost not implemented in the Bulgarian economy and as a result achieving high quality by the European standards is only a good intention.
The survey performed in about 300 enterprises from the machinery construction industry in Bulgaria have shown that the statistical methods are unknown to the workers in that branch of industry and that they have not been implementing such methods in the practice despite their obvious advantages. Thus it is necessary for the Ministry of Economy and Energy to undertake practical steps on the implementation of statistical methods for quality control in the machinery construction enterprises by developing a “Strategy” in which to define the priorities of the Government, the measures and the financial resources that will ensure the training of specialists and the implementation of modern systems for quality management.
-
Maya Tsoklinova
Degree of Differences in the Structure of Government Expenditure for the Provision of Collective Services Between EU-26 and Bulgaria
Summary:
The main goal of this article is to examine the differences in the structure of the expenditure of the “Central Gorvernment” sub-sector by functions of the classification of the functions of state government (COFOG) between the EU-26 and Bulgaria in the period 2007 - 2021 and, on this basis, to analyze the conducted public policies in the field of providing collective services for the benefit of society, aimed at increasing public welfare. To realize the set goal, an integral coefficient of structural differences is used. The obtained results indicate that during the analyzed period there are significant differences in the structure of certain expenditure by functions of the COFOG between the EU-26 and Bulgaria, which in turn is the reason for differentiation in the public policies implemented between the EU and Bulgaria.
-
William Barnett Ii, Walter E. Block
The Rate of Time Preference: a Praxeological Oxymoron
Summary:
In ordinal utility analysis, one can but prefer or set aside. A person can choose option A or option B. Chalk or cheese, guns or butter. There cannot be any such thing as a rate at which a man engages in such activities. Cardinality cannot enter into the picture. No one prefers a given amount of chalk twice as much as cheese. This basic praxeological insight should not be lost sight of when we enter the more complex realm of time preference and interest rate determination. And yet, it commonly is. For we all speak of a “time preference rate.” This is an oxymoron and a praxeological monstrosity. The present paper is devoted to promoting clear thinking by attempting to purify economic language, so as to jettison the concept of a “time preference rate.”
-
Mariana Georgieva
Operators in terms of crisis
Summary:
Financial crises are not a new phenomenon for monetary history. International statistics, however, that their manifestation is more frequent at the beginning of the 80-ies of the 20tn century. Shocks in the financial sector over the past two decades have their own distinctive characteristics. Liberalization and increased integration of financial markets, introducing some new elements in the study of crises and their development begins to differ from the previous development. Consequence of liberalization and international integration of financial services markets in the rapid spread of the crises and its impact in international development.
-
Mohamed Mostafa Ali Albaz
The Strategic Role of Human Resources Planning to Achieve Sustainable Competitive Advantage
Summary:
Purpose: The main objective of the research is to achieve sustainable competitive advantage in the Egyptian tourism sector locally and globally, through the strategic role of human resources planning by maximizing value added, developing innovation and knowledge and increasing the quality of service provided.
Practical implications: The state seeks to adopt the human resources planning of Egyptian tourism companies to achieve a sustainable competitive advantage in the light of the sustainable development strategy.
Originality/ value: The approach should be to adopt human resources planning in companies to achieve a sustainable competitive advantage. This research paper covers the framework of achieving the competitive advantage of tourism companies.
Findings: The dimensions of human resources planning have a strategic role in increasing the rates of innovation, development and value added for tourism companies that achieve sustainable competitive advantage.
-
Teodora Petrova, Zhivo Petrov
Strategic Potential and United European Projects for Cooperation of the European Defense Agency
Summary:
The European Defense Agency is the European Union key institution in the implementation of measures to provide resources for the Common Security and Defense Policy. The agency has set goals in the field of developing a military resource base, defense research and development, united European armaments cooperation projects, strengthening the industrial and technological base and as a main task, creating a common competitive market for military and dual-use products. In recent years, the agency has managed to launch and partially implement a number of united European projects aimed at simplifying the harmonization of standards and accessibility of defense markets for European manufacturers.
-
Ivan Kadev
Strategic Communication Management of Public Organizations in the Context of Social Media
Summary:
The article explores social media and explains how it affects the development of communication in the public sector in light of the increasing digitization and modernization of organizational processes that the sector is undergoing in modern societies. It discusses both the possibilities and limitations of using social media for public sector communications. The article first focuses on the major changes in global communications brought about by social media, on the development of the adoption and application of social media within the modernization of the public sector, and on the domestication of these platforms in such organizations. It then highlights how social media can be integrated into the public sector, its main applications and the changes it brings to communication flows. Criticisms and challenges in adopting social media for public sector communication are also touched upon, as well as key future research questions.
-
Kristiyan Hadjiev
Downsizing Strategy of Volkswagen Group
Summary:
During the time of dynamic change and complete transformation of the social environment and the objects to be managed, a crisis in governance appears inevitably. It is associated with the lack of organizational experience to work in this new conditions, ignorance of the dynamic processes that affect the decision making etc.
-
Viktor Hadjiev
Structural Model of Organizational Behavior
Summary:
The study examines the interaction between managerial processes, structure and goals. The nature of this interaction is conditioned upon the level of interdependence between various managerial activities and their level of complexity. The argument is that the level of managerial comprehension of organizational processes and activities is a preconditioning factor optimizing organizational performance. In addition, the study introduces a conceptual framework the helps reveal the nature of interdependence between the examined managerial units in the implementation stage of the planned strategic goals. A number of environmental factors are put into perspective in the light of strategic decision-making and organizational behavior optimization.
-
Vanya Hadjieva
Structuring of the National Organized Market
Summary:
The market is “the heart” of every economy, is a place where supply and demand meet and where exchange of goods is put into practice. The defining of concept (market) needs to be examined from many different angles which have to include the content of the market, different kind of markets and their characteristics. The object of this research is the market as a basic center for supply and demand – a place where exchange of goods is realizing.
-
Kalin Kalev
Accounting Monitoring on Determinants of Disclosures ‒ Validity and Application to Bulgarian Banks
Summary:
Theoretical framework for investigation of mandatory disclosures have no algorithmical of research methodology and methods. The main reason is there is no established common conceptual framework of disclosures in financial reporting which functional definition to reflect their role and significance. By “functional definition” of concept we mean a definition which makes explicit the usefulness of the concept for certain purposes. In the paper we analyse the determinants of disclosures on sample of bank institutions in Bulgaria and we test previous research assumptions and resultants of the accounting literature. Furthermore, we propose a new framework for measurement of risk disclosures which can introduce to our knowledge some insights about the factors that influence the practice.
-
Mihail Dochev
The Accountant as a Human Factor in a Company
Summary:
People’s business activity is associated with gathering, processing and use of any information about the ongoing economic effects and events. Such information is very diverse in terms of its contents and purpose, the method of collecting, as well as its quantity and quality. There are certain types of information – scientific, technical, technological, socioeconomic, etc. One of the most important issues concerning the existence and functioning of any business is how the information is handled by the accountancy department.
In each company there are three mandatory elements that are mutually connected – property, business operations and organized accounting. The book-keeping of all companies is based on the same set of principles and methodology, along with the same regulatory framework. The accountant of a company has a major role in the book-keeping and the business activity in general. They should possess a number of human and occupational flairs.
-
Mihail Chipriyanov, Galina Chipriyanova, Hristo Vasilev
Accounting Aspects of the Acquisition of Tangible Fixed Assets Intended to Environmental Protection under the European Funds
Summary:
Exceptionally actual about the activity of enterprises is the problem of Environmental Protection. Many enterprises in accordance with the regulations of the European legislation are certified to ISO 14001 in addition to other standards ISO. A currently option for them is the acquisition of tangible fixed assets for Environmental Protection by budgetary financing programs of the European Union. The trend to implement socio-economic responsibility of enterprises reflects upon the increase of their competitiveness in the market, which in turn is a prerequisite for their greater profitability.
The major aim of this study is to supplement the accounting knowledge regarding some important components of the organization of accounting as accounting policies and chart of accounts of a company which acquires tangible fixed assets intended for the protection of the environment, as well as specific accounting entries. In a logical sequence were examined the cost of restoring the environment and the costs of environmental protection.
-
Anatoliy Asenov
Contemporary Aspects of the Sustainability Management
Summary:
Democracy, private property and self-government should be
considered as crucial factors in the future. Increasing
decentralization of functions, rights and responsibilities, expanding democratic foundations of management and economic initiatives are processes which will have a more profound impact on the sustainable development.
-
Nadezhda Tsvetkova
Contemporary Aspects of the Development of the Independent Fiscal Audit of the Republic of Bulgaria
Summary:
We are witness-another science directions as well of legislation in area of control, audit, accounting, of continual changes for a member of the European community after accepting Bulgaria.
The contemporary changes in the area of the control and in the effect of the audit change exclusively the vision and the goals of controls organs. They already do not exert wide and continual control, were examiner finances, à consults an audit that gives leads of necessity, in due course as well tides an activity entity over. Based on the independent audit the choice information on the state of the entity as well goes on objective, the opportunities for the violated the effective internal control as well.
You followed to be marked that in Bulgaria always more are needed for public importance of this occupation to be popularized for major part as well of the heads and their owners of the entities should recognize instant need of the likes îäèòè, their business of the enterprises and their families as well give opinion and recommendations for the operation, the activity.
-
Georgi Batashki, Nikolay Ivanov
Contemporary Aspects of Bank's Accounting Policy
Summary:
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.
-
Birstra Nikolova
Contemporary Aspects of Residential Policy in Bulgaria
Summary:
Residential policy is in the focus of the attention of a wide range of specialists, competent authorities and institutions in Bulgaria throughout the transition period from a centralized to a market economy and in the course of Bulgaria's accession to the European Union. To date, this issue is becoming more topical and puts its practical realization on the agenda. Therefore, this article clarifies the modern role and importance of residential policy, the factors influencing its development have been explored, its current situation in Bulgaria - compared to some EU countries - is presented, based on this, some conclusions and summaries are made about the main prospects for its development.
-
Nadezhda Dimova
Contemporary Aspects of Sustainable Design of the Food Supply Chain
Summary:
The rapid development of technology and digitalisation pose a number of problems for food supply chains. Sustainability in itself is a challenge that enters all areas and in particular in business. In this sense, a special challenge is the modern aspects of sustainable design of the food supply chain, which makes managers make quick, flexible and adequate decisions. Digitalization, in turn, provides excellent conditions for the realization of the sustainable design of the food supply chain.
The article highlights and presents the modern aspects of the sustainable design of the food supply chain. The hypothesis of the need to comply with modern changes, which require the construction of a sustainable design of the food supply chain, has been proven.
-
Viktoriia Psota
Creation of a Mechanism for the Implementation of Green Purchases in the Public Sector: Ukrainian Experience
Summary:
The globalization of public relations has led to the need to reform the public sector of the economy. Harmonization of legislation and regulatory basis with European Union standards requires the generation of new approaches and forms of interaction between customers and participants in procurement processes. The reform of the public procurement system gave an impetus to a change in the attitude of the state customers to the procurement process and the recognition of the need to introduce green procurement.
In the article, the authors investigate the process of implementing green procurement in Ukraine, analyse the regulatory basis and determine the shortcomings in the implementation of the environmental procurement mechanism. In this work carried out a research the priority sectors of the economy for which procurement is most often realize in the regions of Ukraine and suggests using an individual approach to the implementation of green procurement, depending on the needs of the local public sector. The work has developed tools for implementing green procurement, but the mechanism for their application requires research by a wider circle of specialists in various industries. The authors note the shortcomings of the generally accepted methodology for calculating budget savings, which does not take into account the life cycle of goods, should be the future research of scientists.
-
Violeta Kasarova, Marcellin Yovogan, Ralitsa Dimitrova, Krasimir Kostenarov
Value Added Creation by Intellectual Capital in Bulgarian Public Companies
Summary:
In this paper we apply the measurements of intellectual capital focusing on the human capital efficiency (HCE), the structural capital efficiency (SCE), the intellectual capital efficiency (ICE) and the value added intellectual coefficient (VAICTM ) developed by Pulic (2000; 2004) for non financial companies listed at Bulgarian Stock Exchange (BSE) using accounting data published with their financial statements for the period 2005-2009. The research is focused on companies in the manufacturing and tourism industry in order to derive any particularities in the measurements. The financial industry is excluded from the study as being specific. At this moment and at our knowledge, there’s no significant research on the value added of intellectual capital of Bulgarian non – financial industry. We extended the formula of intellectual capital valuation and arrived at the conclusion, that intellectual capital is playing an important role in the value creation process in companies listed at BSE. The relationship between the components of VAIC TM and the Tobin’s Q indicator characterizing the market performance of public companies.
-
Metody Kanev
The Creative and Disruptive Societal Change. The Place and Role of Universities.
Summary:
-
-
Atanas Grigorov
Message and Suggestion
Summary:
From the different connotations of two similar by their denotation words, to the possibility of making suggestions through hidden layers in the message, and consequently – to the conditions, that create this possibility.
-
Stanimir Slavov
Resistance to Organizational Change in Socio-Psychological Aspect
Summary:
Organizations are forced to change constantly. Employees react to the occurring organizational changes in a different manner. Where there is negative attitude, there is also resistance. It can be discussed in various aspects. In this article we will place the emphasis on its socio-psychological aspect. Our aim is to point out the main socio-psychological reasons for resistance, the forms it can take, as well as the measures which can be taken to prevent it or restrict it.
-
Nikolay Markov
State and Perspectives of the Situation Heritage in the Republic of Ukraine
Summary:
The situation and prospects for the development of meat-bearing cattle in Ukraine have been discussed. The survey was conducted over the period 2012-2015. Facilities were farms, business organizations, cooperatives and state institutions involved in meat-breeding cattle in the Republic of Ukraine.
There are historical, natural-climatic, fodder and economic prerequisites for the development of meat-bearing cattle breeding in the Republic of Ukraine. An existing gene pool of local breeds (Ukrainian, Volyn, Poles and Southern meats) and imported breeds (Aberdin Anguis, Simeanal, Sharole and Limosin) are observed. The technology and organization of meat-based cattle breeding in the conditions of intensive agriculture in all nature-climatic zones and administrative regions is mainly worked out, analyzed and utilized.
-
Pavlin Pavlov
State and Development of „The Green Hospitality“ in Bulgaria
Summary:
The number of tourists aware of the great importance of environmental problems is constantly increasing. As a result, the number of eco-entrepreneurship initiatives in the hospitality industry has gradually increased. Therefore, the aim of the present scientific research is to establish the situation and to follow the development of the „green hospitality“ in Bulgaria, as well as to outline the prerequisites and the main obstacles for the creation of „green hotels“.
-
Tsvetelina Nenkova
State and Trends in the Development of the Bulgarian Pension Market for 2007-2012
Summary:
The article examines the state of the pension market as a key element of private pension system in Bulgaria. The analysis focuses on: defining the degree of market concentration, reporting the results and financial performance of pension companies and the level of indicators characterizing the operation of the supplementary pension insurance. On this basis, following the main trends in the market for 2007-2012, some of the existing problems are outlined. At the same time some measures are suggested in order to overcome the problems in the future.
-
Iliyan Dimitrov
A State of ERP Learning in Accounting Education in Bulgarian Universities
Summary:
In contemporary's conditions, there is an urgent need for a thorough learning of ERP systems and the provision of skills that are needful to student’s professional realization. Authors from different universities around the world have studied the state of ERP systems curricula and their educational and practical relevance in various aspects. There aren’t numerous publications that investigate the relationship between ERP systems and accounting education. The article aims to study the state of ERP learning in accounting education in Bulgarian universities to outline the development and improvement opportunities. The indispensability by ERP skills has been identified for modern accountants. Well-wishing suggestions have been made to update and expand the accounting students' education concerning ERP systems. An attempt has been made to determine the stage in ERP education maturity model in accounting majors in Bulgarian universities and some recommendations have been given.
-
Diyana Ivanova
Current State of Internal Control in Public Sector Organisations in the Republic of Bulgaria
Summary:
In the conditions of a global economic crisis, the need to protect public financial interests through effective, efficient, economical, legal and transparent management of public resources has become a topical issue we have been increasingly aware of. The application of these fundamental principles in the practice of public management is achieved by optimisation of the management responsibility towards an adequate and effective internal control. The present paper discusses issues related to the need to control the management of public resources and in particular to the role, the importance and the practical application of financial management and control as a key mechanism in the management of public sector organizations in the Republic of Bulgaria.
-
Lyudmil Naydenov
State, Dynamics and Trends of Household Income under the Covid-19 Conditions
Summary:
This paper examines the relationship between household income, financial stability and well-being under the COVID-19 conditions in Bulgaria. Based on the definition of the total and monetary household income, the paper outlines its theoretical bases, scope, structure and specific characteristics. It analyzes the dynamics of the total and monetary household income, proving that it depends directly on the global pandemic situation provoked by COVID-19. It also justifies the need to rationalize the management of household income in the short and long term to achieve the financial goals, set in the household budget, and improve household’s well-being. The object of study in this paper is household income, and the subject is defined as the highlighting of factors that affect the state, dynamics and trends in the development of the object of study in recent years in the Republic of Bulgaria. The conclusion is that the rational management of household income in the short, medium and strategic horizon is a prerequisite for the households’ financial stability and achievement of the goals set, complied with the households’ financial capabilities.
-
Karim Naama
The State of Information Technology in the Arab World
Summary:
Information technology has become extremely important in the post-Cold War world. Developments in information technology have been described as a revolution due to their role in spurring human communities into a higher stage of development based in on knowledge and information. Information capital has become an essential resource given that information technology, which refers to both information networks and telecommunications, is now considered a form of capital. The growing importance of information capital arises from the shift towards economic globalization, the growing need for diversifying sources of information to achieve sound decision-making, as well as the overall impact of information technology on the individual politically, socially, and culturally.
-
Georgi Dimitrov
The Mystery In The Origin Of Capitalism
Summary:
The paper explains the genesis of capitalism in a principally different way from that of sociological classics. The new European trans-continental trade is viewed as a mechanism, as a social-structural process of supra-personal order, operating systematically in the course of over three centuries and giving rise to capitalism as its own product. Market aided by Calvinisation of Christianity is accepted not only as a historical but also as „a logical beginning” of the modern type of societies.
-
Margarita Shopova, Ivanka Tsvetanova
Trends in the Structural Dynamics of Payments from Social Protection System in Bulgaria
Summary:
The subject of research are the payments from social protection system. A common characteristic of social protection has been made in the context of the European System of integrated Social PROtection Statistics (ESSPROS). The profile of the social protection in Bulgaria is presented on the basis of the provided benefits. Official statistical data, published by NSI and gathered through the ESSPROS is used. Descriptive analysis of the dynamics of the structure of the social benefits in Bulgaria for the period 2005 – 2016 is employed. Intensity of the changes is evaluated through the integral coefficient of structural changes.
-
Blagovesta Nikolova
Trends in Contemporary Economic Forecasting
Summary:
This text attempts to outline some changes in the realm of economic forecasting within the context of a broader process of transformation in contemporary forecasting during the last few decades. The paper focuses on the following issues: the rise of technological forecasting; the advantages of long-term planning; the emergence of ‘alternative futures’ and global modeling; the normative considerations in economic forecasting; and some specific problems which need to be taken into consideration when making economic forecasts.
-
Hristo Sirashki
Trends in Project Portfolio Management
Summary:
The article is devoted to some aspects of the system of project management activity in project oriented organizations as there is more and more growing interest of the organizations in Bulgaria to project management usage. The main motive for this probably is the becoming aware necessity of the organizations to improve their managerial processes. The purpose of the article is to shape out some of the advantages of the Project Management Office (PMO) as an element of the system of project management and also its role in project portfolio management in project oriented organizations.
-
Tsvetelina Tsanova
Theoretical and Methodological Basis of the Concept "Quality of Life" and its Development as an Economic and Social Category
Summary:
The article outlines and explores the concept of quality of life, as well as its similar essence - standard of living, well-being, subjective well-being, well-being, satisfaction, happiness, trust, freedom, and human rights. The concepts related to the object of research are interpreted, and a definition of quality of life as a major role in the lives of individuals.
-
Mariana Kuteva
Theoretical and Practical Aspects of Omnichannel Retailing
Summary:
This article focuses on the essence of omnichannel retailing. The author explains the benefits of omnichannel retailing from the viewpoint of the consumers and from the viewpoint of the retailers. The claim is supported that the integration of „brick and mortar” and digital channels to reach end customers as a retail development strategy favors maintaining stable competitive positions on the market and putting new competitive advantages.
-
Spas Dimitrov
Theoretical Foundations of Logistics
Summary:
The purpose of this paper is to make a brief overview of the definition of logistics beginning with its militaristic and economic origins. The word of logistics originates from the ancient Greece. Logistics as a business concept evolved only in the 1950s. This was mainly due to the increasing complexity of supplying one’s business with materials and shipping out products in an increasingly globalized supply chain, calling for experts in the field who are called Supply Chain Logisticians. Logistics is “the process of planning, implementing, and controlling procedures for the efficient and effective transportation and storage of goods including services, and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements. This definition includes inbound, outbound, internal, and external movements1”. The logistics is defined as a science with its object.
-
Spas Dimitrov
Theoretical Foundations of Logistics. 2. Methodology of Logistics
Summary:
Logistics is the science of management the flow of goods, energy, information and other resources like products, services, and people, from the source of production to the marketplace. The brief representation to the paradigm of the logistics is done. They are showed the science methods of the logistics and the concretely systems analysis. The main codes of behavior of the logistics are individualized. The point of the cardinal sites of the model in the logistics is stripped. The ELA introduced a set of Standards in logistics management, which form the foundation for the European Certification Board for Logistics (ECBL) to certify individuals who meet these Standards.
-
Spas Dimitrov
Theoretical Foundations of Logistics. 3. Terminology of Logistics
Summary:
The study is a linguistic investigation of the terms of the logistics. The most interesting and the most important terms are chosen from the above-mentioned branch and on the basis of their analysis a comparatively detailed characteristic is presented of the logistical terminology. Some basic problems treats in the first part, connected with the notion “term”. A structural characteristic is done of the logistic terms. Is treats the term formation in logistic. It is done in the three different ways: lexico-morphological, lexico-syntactical and lexico-semantical. Is done the analysis in the formation the terms of the logistic. The last part treats the problems of the logistical terminological system.
-
Alexander Apostolov
Theoretical Foundations, Functioning, and Role of Financial Intermediation as a Factor for Economic Growth
Summary:
The study examines the theoretical relationship between financial intermediation and economic growth, focusing on the growing role of non-bank financial intermediation (NBFIs). In order to accomplish this, the main theoretical strands, thematically the most significant propositions, and empirical analyses of the interaction between the development of financial intermediation and economic growth, the structuring of the modern financial system, and the risks it faces, are critically reexamined. Efforts are focused on exploring the direction of the sector's implicit influence on economic growth and whether it can be reversed or is bidirectional. Does the combination of financial markets and investment intermediaries operating in an economy affect economic growth, and if so, in what ways? The study seeks to extend the dichotomous theoretical conceptualizations of financial structure as primarily banking while broadening the theoretical schema by incorporating the perspective of modern structuring, impact, and activities in the non-bank financial ecosystem.
-
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.
-
Elitsa Krasteva
The Technological Audit as a Tool for Development of Innovation Strategies
Summary:
The article focuses on some important planning aspects of the development of business innovation strategies. An emphasis is put on procedural specifics of the technological audit of companies in the cosmetics sector. The possible parameters for utilization of their innovative potential have been outlined.
-
Yordan Vasilev
Transformation Processes and Economic Priorities of Bulgaria
Summary:
-
-
Ankan Dutta
Transformation in Europe & India for their economic growth: key prospects and the untapped opportunities
Summary:
The material put its focus on:
• How India (as EU’s strategic partner) and her SME-s1 are looking into this opportunity to expand into European (including the fast growing Eastern regional) markets of Industrial Technology & Engineering
• The prime indicators from HannoverMesse2 2006 - “The case of Germany”: Doorstep to Europe’ for expanding the base of industrial manufacturing and technology collaborations rapidly.
-
Mariana Drumeva
Salt Trade of Tsvyatko Radoslavov and his Company in the 50s – 70s Of The 19th Century
Summary:
In this article the trade with rock and sea salt of one of the biggest sales companies established in the town of Svishtov in the 50s of the 19th century in the region of Vlashko has been traced. The available quantitative data available in Tsvyatko Radoslavov’s unpublished archive have been processed by outlining daily business practices in this trade and the scope of the company’s activities as well as defining the company’s profitability. Different periods of the company’s activity have been outlined, as well as the trading network of the imported salt from Romanian cities and the sale of salt in Svishtov and in the North of Bulgaria. This article is a contribution to the studying of different specific mechanisms of the trade and the justification of the thesis that Svishtov has been one of the main centres of salt trade on the southern Danube bank during the period of the Bulgarian National Revival.
-
Mariana Drumeva
Trade Knowledge and Commercial Practices in the Town of Svishtov During the National Revival Period
Summary:
The article examines the prevalence of knowledge in the field of trading in the town of Svishtov during the Bulgarian Revival in the form of books containing knowledge in trading; handbooks specialized in commercial and legal matters and double-entry bookkeeping (diplography) and the inclusion of disciplines such as commerce and accounting in the curricula of schools. Attention is paid to the first commercial school in Bulgarian lands founded by D. Em. Shishmanov in 1873. Improvement of trading methods and practices of Svishtov merchants influenced by the progress in education have been viewed in this paper.It has been concluded that interconnection and interdependence of education and practice in trading is an important factor for the economic prosperity of the town of Svishtov during the Bulgarian Revival period.
-
Petyr Banchev, Penka Goranova, Zhivka Tananeeva, Venka Dinkova
Customer Relationship Management (CRM) – Strategies and Application
Summary:
The application of the strategies for management of relationships with customers gives a possibility for the enterprises to increase their incomes through:
- realising of products and servies on the market, that correspond to the consumption needs of the customers;
- improvement of service and working with customers;
- optimizing the process of negotiating with the customers;
- keeping existing and attracting of new customers;
- more effective realization of the enterprise products.
The basic goal of the work is on the ground of the leasing theoretical concepts and research of the practice existing in our country to genreate ideas for giving assistance to Bulgarian enterprises in their ambition to implement new methods and approaches to keep the present key customers, as to suggest other approaches for working to attract new customers, which will broaden the marketing presence with (marketing share) and to increase competetiveness of the business.
-
A. V. Bulavynets
Management of Loan Capital in Financing Structure of The Enterprise: Theoretical and Methodical Foundations
Summary:
In the article are explained the essence of the concepts of "loan" and "borrowed" capital. We considered that the loan capital of company characterizes part of the financial resources of the enterprise what is temporarily involved in economic activities and they can be sent to the capital market for additional income from the investment. It is advisable to understand that the borrowed capital is the financial resources of the enterprise, not belonging to him by right of ownership, but raised them in economic activities from different sources and in different forms on terms of maturity, repayment and interest payment in order to fulfill the objectives of the program of its activities.
The theoretical and methodical principles of borrowed capital management have been investigated, in particular: the directions of management (planning and capital employed, assessing the efficiency of capital employed, monitoring the timely servicing and repayment of debt); characterized by the principles on which is based capital management (accounting principle prospects of development of business, the principle of matching amounts of borrowed capital and the formation of the assets of the enterprise, the principle of optimality of capital structure from the standpoint of its effective function, the principle of ensuring the efficient use of capital employed in the course of economic activity).
Criteria of optimization of the borrowed capital to calculate its weighted average cost and term borrowings have been proposed.
A formula procedure for determining the weighted average cost of borrowed capital employed, which is based on the approximation of streaming method has been developed.
-
Alexandar Angelov
Supply Chain Management in Low Demand Intensity for Electrical Products and Reducing Delivery Volume
Summary:
The present study is developed in three paragraphs. The first one provides information regarding different types of supply chains, with an emphasis on the two- echelon linear supply chain. Secondly, preview of theoretical aspects of the models for researching and simulating the inventory management is conducted. The second paragraph adapts a methodology for inventory management comparative analysis by economic order quantity and supply chain model, depending on demand and reduced supply quantity. The third paragraph presents an empirical results analysis that consequently confirms that when managing inventory in the supply chain, the overall costs are lower.
-
Hristo Sirashki
Innovation Management – an Alternative for the Ecologization of Activities in the Mining Industry
Summary:
This paper deals with some theoretical issues concerning innovation management. The emphasis falls on the importance of keeping the environment clean and the activities carried out in the mining industry. It analyzes and evaluates the results of a study on the state of certain sites for raw materials mining. It also draws conclusions on the management of innovations concerning the ecologization of the mining industry.
-
Julian Vassilev
Management of Network Security of a University Server by Analysis of Log Files
Summary:
The purpose of this paper is to manage network security by analysis of log files of Apache web server. We try to detect problems related to network security. In theoretical terms various methods and tools for the analysis of log files are studied. The given methodology for analysing log files is presented for the first time in this study. It can be applied in the analysis of log files on other web servers.
-
Mariana Ianeva, Ralitsa Georgieva
Managing the Business Tourism as a Prerequisite for Sustainable Growth
Summary:
The present paper aims to explore and analyze the possibilities of diversifying the supply of travel agencies by creating specialized products as a factor for achieving economic efficiency on the overall activity of the enterprise. The implementation of sustainable growth management strategies is a turning point for developing a competitive advantage for both tourist areas and companies in the conditions of market homogeneity. Specific application of the ways of overcoming the homogeneity of supply was found in the specialization of the tourist companies to create programs related to the business tourism and its components, an integral part of the dynamic development of the national and international economy.
-
Evgeni Raykov
Working Capital Management in Bulgarian Public Companies – Empirical Analysis during the Financial and Economic Crisis and Post-Crisis Recovery
Summary:
Modern financial analysis has become more responsible in line with the growing role and functions of financial management for providing reliable information base. It materializes in new control procedures and methodological approaches to analysis that identify more precisely the impact of the external environment and internal resources to maintain the balance between profitability and liquidity. Examined trends in Bulgarian companies have shown variable profitability of current assets as a result of dynamically changing turnover and uncertainty in terms of sales. Low profitability and return on total assets was the result of the negative effect of long-term investment policy before and during the crisis of 2007. Sound liquidity ratios demonstrate stable performance through its adjustment by changes in short-term liabilities and the rise in overall liquidity reflects the priorities of financial management for balanced management of working capital.
-
Andrey Zahariev, Stefan Stanimirov, Nikolay Todorov Zdravkov
Managerial Financial Model of an Insurance Broker in Bulgaria - Methodological and Applied Aspects
Summary:
The object of research are the insurance brokers in Bulgaria, and its subject is the methodological framework for building a management financial model of an insurance broker in Bulgaria. The leading thesis in the present study is based on the statement that the optimal financial management of a brokerage company in the insurance sector in Bulgaria requires the construction of a complex model based on the control of the financial value of the company, which allows to compare the attractiveness of various business lines, through which to develop those of them, bringing the greatest increase in the value of the company. The purpose of the development is to justify a methodological framework for building a comprehensive financial management model based on the control of the financial value of the company, which allows by forecasting the benefits and costs to compare the attractiveness of different business lines for development and expansion. The focus is on gross premium income from corporate insurance and retail brokerage. As a result of the research, forecast values for the period 2019-2023 are generated, first the exogenous variables are predicted, and on their basis - the main target variables. The constructed model has an extremely high descriptive ability - as for the historical period the two curves - with real reporting data and the modelled one - practically coincide. On this basis, the forecast part can be considered relevant for the purposes of the management financial model. Similar results are achieved in the modelling and forecasting of retail premiums, which is the basis of the insurance broker's profit.
-
Desislava Aleksieva
Communication Management in Co-Activity Environment
Summary:
Communication is an essential part of the management activities. It appeared and developed under the influence of several factors in a defined medium.
The ability to influence management communication affects and forms co-actors – positive, negative and neutral; and contributes to the total score and specific relationships in the organization.
The structure of the article is as follows: introduction; part one presents the role of co-activity environment managerial communication; part two presents policy and law as a compensatory mechanism of the co-activity system; part three examines the development of management relations in terms of co-activity; and conclusion.
-
Hrabrin Bashev
Governance Modes for Supply gf Agro-Ecosystem Services by Agricultural Farms in Bulgaria
Summary:
Despite growing environmental issues, and increasing public and private interests, scientific studies on the management of agroecosystem services are at the beginning stage. This article incorporates the interdisciplinary New Institutional Economics framework, and identifies and assesses diverse private, market, collective and public modes of management of ecosystem services applied by the Bulgarian farms. The study has found out that farms of the country use a great variety of private, market, collective and public modes of governance of farm activity related to agroecosystem services. There is significant differentiation of employed managerial forms depending on the type of ecosystem services and specialization of agricultural holdings. Management of agroecosystem services is associated with a considerable increase in the production and transaction costs of participating farms as well as big socio-economic and environmental effects for holdings and other parties. Factors that mostly stimulate the activity of Bulgarian producers for protection of agro-ecosystems and their services are participation in public support programs, access to farmers' advice, professional training, available information and innovation, received direct subsidies, personal conviction and satisfaction, positive experience of others, long-term and immediate benefits for the farm, and integration with suppliers, buyers and processors. Suggested holistic framework for analysing the system of management of agro-ecosystem services is to be extended and improved, and widely and periodically applied in the future.
-
Magdalena Mosionek Schweda, Maciej Tokarski
The Absorption of the European Funds Granted to Poland for the Period 2007-2013 – Examples of Projects and Evaluation
Summary:
Poland was granted over ˆ 67.3 billion as the European aid for the years 2007-2013. It comprised almost 20% of the total amount earmarked for the cohesion policy of the European Union for the years 2007-2013. The funds were utilized by Polish enterprises, local governments, non-governmental institutions, farmers and other entities. The main aim of this article is to present the evaluation of use of the EU funds in Poland for the period 2007-2013. The analysis was based upon the statistics data published in Poland by the Ministry of Infrastructure and Development, Eurostat and the European Commission. The analysis of the sources on the subject as well as observations of the business practices allowed forming a thesis that Poland competently utilised the European funds for the years 2007-2013 and thereby benefited considerably. Nonetheless, despite the significant influence of the funds onto the GDP growth dynamics and the increase in the standard of living, in the overall view Polish economy has not gained much in the innovation aspect due to the fact that the financial resources acquired by the Polish companies from the subsidies were largely earmarked to purchase the already existing western technologies, thus, making them dependent upon the know-how of the huge western conglomerates – which must be disapprovingly assessed.
-
Pepa Stoykova
Fakes as Objects of Tax Control
Summary:
Counterfeits are those results from an act or omission that is false, fraudulent or forged like the existing product. They contain foreign traits (characteristics) that create the illusion of a quality product at a higher cost or price, respectively.
Counterfeits are of interest for tax control due to the fact that they generate profit. Tax control shall be established reality of profit, which serves as the basis for the calculation of tax liabilities, and the opportunities for manipulation of revenue and expenditure variables.
Due to the wide variety of fakes, in this article false documents created in relation to counterfeit goods will be highlighted. Types of document crimes have been structured and their number compared (including sanctioned offenders) with the counterfeit goods and accompanying forged documents.
-
Dimitar Kolev, Elizar Aleksiev Stanev
Facebook Usage for Marketing Meàsurements (by the Example of Meat Industry Organizations in Bulgaria)
Summary:
The significance of social networks for the business as a part of marketing instruments is constantly growing, which requires constant observations and studies of different opportunities for conducting marketing researches. In this article some of the methods for marketing research in Facebook’s fan pages for key meat industry producers in Bulgaria have been shown. A comparison between the selected fan pages and other leading Facebook fan pages from Bulgaria has been made. On the basis of that analysis some key prepositions have been presented.
-
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.
-
Elitsa Dolapchieva
The Politics of the Firm toward Employment's Motivation in Wine-Producing Industry
Summary:
-
-
Andrey Zahariev, Galina Zaharieva, Zdravko Lyubenov, Lyudmil Krystev, Aleksandyr Ganchev
On the Corporate Investments in Human Capital
Summary:
The focus of the material is put on examining and defining the problems with risk management on the corporate investments in human capital.
-
Borislav Atanasov
Fragmentary Analysis of the Market of Fast-Moving Consumer Goods in Bulgaria
Summary:
For its purpose, the fast-moving consumer goods satisfy mainly the basic needs, and unlike the consumer durables, distinguish with relatively high frequency of consumption. Based on data of the National Statistical Institute, the change of retail sales for the period 2010-2018, the average expenditures of the households for purchasing of foods, the change of number of retail sales premises - for the country and statistical regions, the change of number of retail sales premises of the leading trade chains selling fast-moving consumer goods are presented in the article. On the basis of the author’s own researches of the consumer’s behaviour when they purchase fast-moving consumer goods, a comparative analysis through one-dimensional frequency distributions is made and trends of consumers’ behaviour during the purchase are brought out.
-
Maya Lambovska
Utility Function (by von Neumann-Morgenstern) – an Instrument for Solution under Uncertainty and Crises
Summary:
This paper presents the possibility of using Von Neumann–Morgenstern utility function as a tool for choosing an alternative way for dealing with crisis in organizations operating in uncertain environment.
-
Milka Bakyrdzhieva
Humor - a Means of Efficient Business Communication. Age, Gender and Cultural Differences
Summary:
Humour is considered a means for efficient business communication and a factor for successful business. It relieves the tension and stress, „breaks the ice”, leads to creative decisions, conveys inconvenient truths as skillful jokes, wins sympathy and trust when the jokes are directod to the speaker, „aikido”, etc. Everybody can learn how to joke. This requires some knowledge on the essence of humour, the main types of humour, the importance of humour, and especially on the existing age, gender, and cultural differences. With such knowledge and appropriate trainnig everybody shall know when, where, and how to use his sense of humour.
-
Elena Yordanova
Values and Managerial Communication
Summary:
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.
-
Beata Skowron Mielnik, Marcin Golembski
Shared Service Centers as a Tool for Organizing Flexible Personal Function in an Enterprise
Summary:
Polish Association of Human Resources Management (PSZK) there have been identified four main job market challenges in Poland [Czy polscy pracodawcy … 2011]. There are as follow: motivation adjusted to age and sex; lack of talents; retention of talents; and transformation of HR function.The analyses of situation in the scope of the last challenge mentioned shows that a lot of managing personal function workers have got ambition to act a leading strategic role in an enterprise. However, they admit themselves that personal departments are still reduced to a role of a business support or an administrator. The weak side of Polish organizations remains effective measurement of personal function especially rate of return from human capital investment. If personal function is to fulfill role of strategic partner it needs to change an attitude for more professional one in an organization. Desiring to be a business partner personal departments ought to make earnest assessment of their current activities and plan possible development areas for them. Measurements of effectiveness of personnel function should be an active base as though personal departments were able to have strategic function in an organization. Such transformation demands form personnel departments transferring their engagement on new fields and as a consequence reorganizing administration processes through their automation and outsourcing. The aim of the article is to show a meaning of flexible organization of personal processes within contemporary entities and introduction of common center services as a optimization tool and flexible organization of personal function in an enterprise. There are pilot research assessments presented in the article concerning SSC/BPO serving HR processes. The article has got a cause character and is a base for further deepened direct researches.
-
Yuri Borisovich Shubnikov
Digital Rights in the System of Civil Rights Objects: Features and Problems of Legal Registration in Russia
Summary:
In this article, the author attempts to analyze the features of the formation of a uniform legal framework for regulating legal relations in Russia within the digital economy. The author pays special attention to the problems of development of legislation on objects of civil rights that resulted from the development of digital (intellectual) technologies-digital rights and digital money (crypto currency, electronic money).
-
Karim Naama
Private Property in Terms of the Thinker Ibn Khaldun (1331-1406)
Summary:
Form of ownership became a real important aspect of modern economic system, one of the most influential forces determining the further course of development of our planet. It affects all areas of public life, including economic, political, social, culture, ecology and others.
In the face of private ownership, some experts see a serious threat to the economic system and other means for the future progress of the global economy. The positive impact of private ownership is associated with the effect of competition to which it inevitably leads and negative effects - in potential conflict.
-
Ivanka Daneva
Private Pensions - the Inevitable Alternative
Summary:
The paper deals with common cases of private pension systems, which play an important and growing role in the provision of retirement age.
-
Dobrinka Zlateva
The Human Being in Economy – Rational (Irrational) and Instinctive
Summary:
The study examines the human being in economy. The shared opinion is that the theory of economics should study the human being in economy rather than the Íomo economicus. The maintained view is that the accepted concept in the neoclassical theory about Íomo economicus according to which human beings are rational does not correspond to the multifaceted character of human nature. On the basis of interdisciplinary approach the human being in economy is studied as rational (irrational) and instinctive. The view is maintained that economic human activity is determined by instincts. Economic instincts characterizing human activity in economy are discussed.
-
Desislava Koleva Stefanova
The Human Capital and its Significance for our Present
Summary:
The article describes basic economic theories examined through the prism of human capital and its development over the years.The significant role of the human factor for the modern world has been underlined. The educational level of labour markets is analysed through the used data from Eurostat. Major negative trends have been identified, related to the development of human capital in the educational, social and economic sectors. Measures and recommendations have been outlined to improve the knowledge and skills of the active labour force and its positive integration into the labour markets.
-
Ludwig Von Mises
Human Action, Part Five, Chapter XXV. The Imaginary Construction of a Socialist Society
Summary:
When the social philosophers of the eighteenth century laid the foundations of praxeology and economics, they were confronted with an almost universally accepted and uncontested distinction between the petty selfish individuals and the state, the representative of the interests of the whole society.
-
Ludwig Von Mises
Human Action, Part Five, Chapter XXV. The Impossibility of Economic Calculation under Socialism
Summary:
The director wants to build a house. Now, there are many methods that can be resorted to. Each of them offers, from the point of view of the director, certain advantages and disadvantages with regard to the utilization of the future building, and results in a different duration of the building's serviceableness; each of them requires other expenditures of building materials and labor and absorbs other periods of production. Which method should the director choose?
-
Ludwig Von Mises
Human Action - Part Four, Chapter XV. The Market
Summary:
The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts on his own behalf; but everybody's actions aim at the satisfaction of other people's needs as well as at the satisfaction of his own. Everybody in acting serves his fellow citizens. Everybody, on the other hand, is served by his fellow citizens. Everybody is both a means and an end in himself, an ultimate end for himself and a means to other people in their endeavors to attain their own ends.
-
Ludwig Von Mises
Human Action - Part Four, Chapter XVI. Prices, §§ 1-7
Summary:
In an occasional act of barter in which men who ordinarily do not resort to trading with other people exchange goods ordinarily not negotiated, the ratio of exchange is determined only within broad margins. Catallactics, the theory of exchange ratios and prices, cannot determine at what point within these margins the concrete ration will be established. All that it can assert with regard to such exchanges is that they can be effected only if each party values what he receives more highly than what he gives away.
-
Ludwig Von Mises
Human aAction - Part Four, Chapter XVI. Prices, §§ 8-15
Summary:
In the same way in which governments restrict competition in order to improve the position of privileged sellers, they can also restrict competition for the benefit of privileged buyers. Again and again governments have put an embargo on the export of certain commodities. Thus by excluding foreign buyers they have aimed at lowering the domestic price. But such a lower price is not a counterpart of monopoly prices.
What is commonly dealt with as monopoly of demand are certain phenomena of the determination of prices for specific complementary factors of production.
-
Ludwig Von Mises
Human Action. Part Four, Chapter XVII. Indirect Exchange && 1-11
Summary:
Interpersonal exchange is called indirect exchange if, between the commodities and services the reciprocal exchange of which is the ultimate end of exchanging, one or several media of exchange are interposed. The subject matter of the theory of indirect exchange is the study of the ratio of exchange between the media of exchange on the one hand and the goods and services of all orders on the other hand. The statements of the theory of indirect exchange refer to all instances of indirect exchange and to all things which are employed as media of exchange.
-
Ludwig Von Mises
Human Action. Part Four, Chapter XVII. Indirect Exchange && 12-19
Summary:
People deal with money-substitutes as if they were money because they are fully confident that it will be possible to exchange them at any time without delay and without cost against money. We may call those who share in this confidence and are therefore ready to deal with moneysubstitutes as if they were money, the clients of the issuing banker, bank, or authority. It does not matter whether or not this issuing establishment is operated according to the patterns of conduct customary in the banking business. Token coins issued by a country's treasury are moneysubstitutes too, although the treasury as a rule does not enter the amount issued into its accounts as a liability and does not consider this amount a part of the national debt. It is no less immaterial whether or not the owner of a money-substitute has an actionable claim to redemption. What counts is whether the money-substitute can really be exchanged against money without delay and cost.
-
Ludwig Von Mises
Human Action, Part Four, Chapter XVIII. Action in the Passing of Time, && 1-4
Summary:
Acting man distinguishes the time before satisfaction of a want is attained and the time for which the satisfaction continues. Action always aims at the removal of future uneasiness, be it only the future of the impending instant. Between the setting in of action and the attainment of the end sought there always elapses a fraction of time, viz., the maturing time in which the seed sown by the action grows to maturity. The most obvious example is provided by agriculture. Between the tilling of the soil and the ripening of the fruit there passes a considerable period of time. Another example is the improvement of the quality of wine by aging. In some cases, however, the maturing time is so short that ordinary speech may assert that the success appears instantly. As far as action requires the employment of labor, it is concerned with the working time. The performance of every kind of labor absorbs time. In some cases the working time is so short that people say the performance requires no time at all.
-
Ludwig Von Mises
Human Action, Part Four, Chapter XVII. Action in the Passing of Time, && 5-9
Summary:
Capital goods are intermediary steps on the way toward a definite goal. If in the course of the period of production the goal is changed, it is not always possible to use the intermediary products already available for the pursuit of the new goal. Some of the capital goods may become absolutely useless, and all expenditure made in their production appears now as waste. Other capital goods could be utilized for the new project but only after having been subjected to a process of adjustment; it would have been possible to spare the costs required by this alteration if one had from the start aimed at the new goal. A third group of capital goods can be employed for the new process without any alteration; but if it had been known at the time they were produced that they would be used in the new way, it would have been possible to manufacture at smaller cost other goods which could render the same service. Finally there are also capital goods which can be employed for the new project just as well as for the original one.
-
Ludwig Von Mises
Human Action, Part Four, Chapter XX. Interest, Credit Expansion, and the Trade Cycle && 1-6
Summary:
In the market economy in which all acts of interpersonal exchange are performed by the intermediary of money, the category of originary interest manifests itself primarily in the interest on money loans.
-
Ludwig Von Mises
Human Action, Part Four, Chapter XX. Interest, Credit Expansion, and the Trade Cycle && 7-9
Summary:
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.
-
Ludwig Von Mises
Human Action, Part Four, Chapter XXI.Work and Wages && 1-6
Summary:
The psychological problems raised by introversive labor are catallactically irrelevant. Seen from the point of view of economics introversive labor is to be qualified as consumption. Its performance as a rule requires not only the personal efforts of the individuals concerned, but also the expenditure of material factors of production and the produce of other peoples' extroversive, not immediately gratifying labor that must be bought by the payment of wages. The practice of religion requires places of worship and their equipment, sport requires diverse utensils and apparatus, trainers and coaches. All these things belong in the orbit of consumption.
-
Ludwig Von Mises
Human Action, Part Four, Chapter XXI.Work and Wages && 7-9
Summary:
The self-sufficient man who works in economic isolation for the direct satisfaction of his own needs only, stops working at the point at which he begins to value leisure, the absence of labor's disutility, more highly than the increment in satisfaction expected from working more. Having satisfied his most urgent needs, he considers the satisfaction of the still unsatisfied needs less desirable than the satisfaction of his striving after leisure.
-
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.
-
Ludwig Von Mises
Human Action, Part Four, Chapter XXIII. The Data of the Market
Summary:
Catallactics, the theory of the market economy, is not a system of theorems valid only under ideal and unrealizable conditions and applicable to reality merely with essential restrictions and modifications. All the theorems of catallactics are rigidly and without any exception valid for all phenomena of the market economy, provided the particular conditions which they presuppose are present. It is, for instance, a simple question of fact whether there is direct or indirect exchange. But where there is indirect exchange, all the general laws of the theory of indirect exchange are valid with regard to the acts of exchange and the media of exchange. As has been pointed out1, praxeological knowledge is precise or exact knowledge of reality. All references to the epistemological issues of the natural sciences and all analogies derived from comparing these two radically different realms of reality and cognition are misleading. There is, apart from formal logic, no such thing as a set of "methodological" rules applicable both to cognition by means of the category of causality and to that by means of the category of finality.
-
Ludwig Von Mises
Human Action, Part Four, Chapter XXIV. Harmony and Conflict of Interests
Summary:
The changes in the data whose reiterated emergence prevents the economic system from turning into an evenly rotating economy and produces again and again entrepreneurial profit and loss are favorable to some members of society and unfavorable to others. Hence, people concluded, the gain of one man is the damage of another; no man profits but by the loss of others. This dogma was already advanced by some ancient authors. Among modern writers Montaigne was the first to restate it; we may fairly call it the Montaigne dogma. It was the quintessence of the doctrines of Mercantilism, old and new. It is at the bottom of all modern doctrines teaching that there prevails, within the frame of the market economy, an irreconcilable conflict among the interests of various social classes within a nation and furthermore between the interests of any nation and those of all other nations.
-
Ludwig Von Mises
Human Action - Part Four, Chapter XIV. The Scope and Method of Catallactics
Summary:
There have never been any doubts and uncertainties about the scope of economic science. Ever since people have been eager for a systematic study of economics or political economy, all have agreed that it is the task of this branch of knowledge to investigate the market phenomena, that is, the determination of the mutual exchange ratios of the goods and services negotiated on markets, their origin in human action and their effects upon later action. The intricacy of a precise definition of the scope of economics does not stem from uncertainty with regard to the orbit of the phenomena to be investigated. It is due to the fact that the attempts to elucidate the phenomena concerned must go beyond the range of the market and of market transactions. In order to conceive the market fully one is forced to study the action of hypothetical isolated individuals on one hand and to contrast the market system with an imaginary socialist commonwealth on the other hand. In studying interpersonal exchange one cannot avoid dealing with autistic exchange. But then it is no longer possible to define neatly the boundaries between the kind of action which is the proper field of economic science in the narrower sense, and other action. Economics widens its horizon and turns into a general science of all and every human action, into praxeology. The question emerges of how to distinguish precisely, within the broader field of general praxeology, a narrower orbit of specifically economic problems.
-
Ludwig Von Mises
Human Action, Part Four, Chapter XIX. Interest
Summary:
It has been shown that time preference is a category inherent in every human action. Time preference manifests itself in the phenomenon of originary interest, i.e., the discount of future goods as against present goods.
-
Ludwig Von Mises
Human Action, Part Six, Chapter XXVII. The Government and the Market
Summary:
Private ownership of the means of production (market economy or capitalism) and public ownership of the means of production (socialism or communism or "planning") can be neatly distinguished. Each of these two systems of society's economic organization is open to a precise and unambiguous description and definition. They can never be confounded with one another; they cannot be mixed or combined; no gradual transition leads from one of them to the other; they are mutually incompatible.
-
Ludwig Von Mises
Human Action, Part Six, Chapter XXVIII. Interference by taxation
Summary:
To keep the social apparatus of coercion and compulsion running requires expenditure of labor and commodities. Under a liberal system of government these expenditures are small compared with the sum of the individuals' incomes. The more the government expands the sphere of its activities, the more its budget increases.
-
Metody Kanev
Human Development– At Stake
Summary:
The "individual-society" relationship has been studied as a basic functional mechanism, dominated by the organizing principle of social organization in its historically different social forms. It defends the thesis that today, human development has become such an organizing principle. Human development and social development, turning each other into a goal and mechanism for achieving it, are becoming more identical. This is actually the modern social ideal - achieving social structure that creates the best conditions and opportunities for developing the strengths and abilities of each person.
-
Kuzman Iliev
The School of Free Banking with Fractional Reserves versus The School of Full Reservation of Deposits - an Economic Reflection of Modern Concepts in Banking and Monetary Policy
Summary:
The study presents a comparative analysis of the two modern pro-market schools in the field of monetary theory and banking – the school of free banking with fractional reserves and the school of full deposit reservation. In this way, the paper outlines the guidelines to be followed in developing theories, concepts and proposals for improving or perfecting the money supply management. In concrete terms, the analysis considers the alternatives for the implementation of banking and the positioning of the central bank in the schools of free banking with fractional reserves and the full reservation of deposits, the methodological nature of a market process in their frameworks and an interpretation of the two schools in relation to the functions of deposits, the interest rate, deflation and quantitative easing.
-
Yordan Vasilev
Is the Problems of Financing and Crediting of the Small and the Medium Business will Remain after our Incorporation in EU?
Summary:
-
-
Stoyan Nalbantov
“Money Laundering” Phenomenon as a Threat to the Stability of the National Economy
Summary:
This article examines the nature, complexity and specific features of the term “money laundering” as an activity of legalization of illegally obtained funds and their presentation as coming from a legitimate economic activity. What are clarified are the stages through which the process of “dirty” money laundering (placement, layering and integration) passes using multiple operations and schemes of different types and complexity. Outlined are the negative consequences and effects from the integration of criminally acquired profits in the financial system and their impact on the economic, political and social life of the country.
-
Borislav Boev
Nuclear Energy and the Transition to Low-Emission Electricity System
Summary:
This article explores national and European energy development plans in the context of the transition to a low-emission economy. The current structure of the electricity system of the country, the main objectives in the national strategic document for energy development "Integrated Plan in the field of energy and climate of the Republic of Bulgaria 2021-2030" and the package "Clean Energy for All Europeans" are presented. At the same time, the main challenges that Bulgaria will face in the decommissioning of carbon-intensive electricity generation (especially coal power plants) and the construction of replacement capacity have been identified. In this context, the article highlights the main advantages of nuclear energy as a safe, reliable, sustainable, and low-emission energy source and provides specific guidelines for the expansion of nuclear energy in the forthcoming transformation of the country's electricity system.
