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  Regulation of Pension Fund Investments in Bulgaria – Developments and Trends

  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 ... 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.

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  A Process of Implementation of Investment Projects within the Scope of Corporate Innovation Activities

  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 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.

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  Algorithm for Econometric Estimation of the Aggregated Production Function by Transcendental Logarithmic (translog) Approximation

  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 ... 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.