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  Analysis of Differences in the Systems of Anti-Monopoly and Regulatory Policies of States

  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 ... 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.

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  Discussion Aspects in Models of Dynamic Capabilities

  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 ... 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.

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  Determinants of Stock Exchange Activity in the Conditions of the Bulgarian Fund Market

  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 ... 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.