„Business World” Library

Most popular articles

• 

  ASSESSMENT OF THE INSOLVENCY RISK OF ENTERPRISES

  Foreign models for assessing the insolvency risk of enterprises are an effective way of forecasting a financial position, therefore, they should not be directly excluded from the analytical tools used in Bulgaria. At the same time, these models, developed in socio-economic conditions that differ from the Bulgarian ones, suggest that they should not be immediately applied without a thorough and targeted study. Such studies contribute to the application of foreign analytical models with ... Foreign models for assessing the insolvency risk of enterprises are an effective way of forecasting a financial position, therefore, they should not be directly excluded from the analytical tools used in Bulgaria. At the same time, these models, developed in socio-economic conditions that differ from the Bulgarian ones, suggest that they should not be immediately applied without a thorough and targeted study. Such studies contribute to the application of foreign analytical models with relatively high predictive capabilities in their original form, as well as the adaptation of empirical equations with lower predictive capabilities to a specific business environment, and the construction of new models. In this way, the theory of financial analysis is enriched and favourable conditions for increasing the degree of certainty are created when assessing the insolvency risk of enterprises in practice. TABLE OF CONTENTS INTRODUCTION 9 SECTION ONE THEORETICAL AND METHODOLOGICAL FRAMEWORK OF THE ASSESSMENT OF INSOLVENCY RISK OF ENTERPRISES 15 CHAPTER I INSOLVENCY RISK AS AN OBJECT OF ANALYTICAL RESEARCH 15 1.1. Logical basis of the insolvency risk assessment of enterprises 16 1.2. Macroeconomic dimensions of the insolvency risk 26 1.3. Main characteristics of the insolvency risk 40 CHAPTER II METHODOLOGICAL APPARATUS FOR ASSESSMENT OF INSOLVENCY RISK 58 2.1. Analytical approaches to assessing the insolvency risk 59 2.2. Selection of risk assessment analytical models 70 2.3. Key components of analytical models 81 SECTION TWO PRACTICAL AND APPLIED ASPECTS OF THE INSOLVENCY RISK ASSESSMENT OF ENTERPRISES 96 CHAPTER III ASSESSMENT OF THE INSOLVENCY RISK 96 3.1. Provision of information and tools in assessing the insolvency risk 97 3.1.1. Provision of information in risk assessment 97 3.1.2. Risk assessment tools 102 3.2. Risk assessment of enterprises declared bankrupt 108 3.3. Risk assessment of financially stable enterprises 120 CHAPTER IV IMPROVEMENT OF THE ANALYTICAL MODELS FOR ASSESSMENT OF THE INSOLVENCY RISK 130 4.1. Determining the prognostic capabilities of analytical models 131 4.2. Adapting the analytical models 138 4.2.1. Correcting the limit value of an integral indicator 138 4.2.2. Modifying an analytical model by changing the weighting coefficients 142 4.3. Creating analytical models 146 4.3.1. Model building – phase I 146 4.3.2. Model building – phase II 150 CONCLUSION 160 REFERENCES 166 APPENDICES 169

• 

  PEDAGOGICAL MASTERY IN THE WORLD OF ECONOMICS AND MANAGEMENT

  Nowadays, when the world seems to be moving faster and faster along the path of its evolution, transformations in the education system can be defined as dynamic, diverse and non-linear. Globalization and the easy access to huge amounts of information from anywhere in the world and at any time challenge teachers to always be well-informed about achievements and innovations in the sciences they teach. The penetration of digitalization into every area of people’s lives poses additional ... Nowadays, when the world seems to be moving faster and faster along the path of its evolution, transformations in the education system can be defined as dynamic, diverse and non-linear. Globalization and the easy access to huge amounts of information from anywhere in the world and at any time challenge teachers to always be well-informed about achievements and innovations in the sciences they teach. The penetration of digitalization into every area of people’s lives poses additional challenges and new problems to the learning process. Lecturers are no longer the people who go out in front of the students to deliver yet another lecture. They have to be modern, informed and innovative and use the achievements of information technology in order to ensure a continuous and close exchange of information with their learners. However, what should the format and organization of an academic course be so that it can increase students' interest in economics and management, and at the same time serve as an effective stimulus for learning motivation? An answer to this question is sought in this monograph. TABLE OF CONTENTS PREFACE 7 CHAPTER ONE. An Introduction to the World of Economics, Governance and Human Security 12 1. Economics as a social and behavioral science 12 2. An overview of management science and practice 36 3. The dream of human security 82 SUMMARY 103 CHAPTER TWO. Studying the Process of Transferring Socially Valuable and Personally Meaningful Experience 105 1. Evolution of the science of upbringing, training and education 105 2. Learning – nature, content and specificity 126 3. Training – unity of teaching and learning 140 3.1. Learning process and learning methodology 140 3.2. Passive learning as part of traditional learning 147 3.3. Active learning and a dynamic learning environment 152 SUMMARY 168 CHAPTER THREE. Education in the 21st Century 170 1. Contemporary education and digital pedagogy 170 2.Developing pedagogical mastery in teaching Economics and Management 184 3. Examples of practices in Economics and Management training 194 3.1. Examples of practices in Economics training 194 3.2. Examples of practices in Fundamentals of Management training 207 3.3. Examples of practices in Organizational Development training 220 3.4. Examples of practices in Human Resource Management training 231 3.5. Examples of practices in Conflict and Crisis Management training 237 3.6. Examples of practices in Strategic Management training 248 3.7. Examples of practices in Corporate Social Responsibility training 261 3.8. Examples of practices in Security Systems Management training 270 SUMMARY 278 CONCLUSION 279 REFERENCES 283 THE AUTHOR 311

• 

  TRENDS AND PERSPECTIVES IN THE INTERNATIONAL SPECIALISATION OF PRODUCTION IN BULGARIA

  ABSTRACT The international division of labour is a factor and source for the formation of modern production structure, which generates a change in the international competitiveness of the national economies. The dynamics of modern international trade is structurally decisive in the formation of trade flows and creates international specialization of production, which in turn implies a modern approach in analyzing the current international division of labour. The production and export ... ABSTRACT The international division of labour is a factor and source for the formation of modern production structure, which generates a change in the international competitiveness of the national economies. The dynamics of modern international trade is structurally decisive in the formation of trade flows and creates international specialization of production, which in turn implies a modern approach in analyzing the current international division of labour. The production and export specialization of the Bulgarian economy has been developing over the past twenty years under the sign of two parallel processes - the transition to a market economy and integration into the EU - which lead to the creation of new production potential. There are some external factors and processes, objectively related to the process of globalization and its dynamic changes, that have an impact on the changes in the production and trade specia¬lization of Bulgaria. However, the influence of external factors cannot always change the dynamics and nature of internal structural changes that would increase the competitiveness of the national economy. Based on the above, the research conducted with funding from the National Fund for Scientific Research and administered by the Institute for Scientific Research, ISR, at D.A.Tsenov Academy of Economics on the topic: "The international division of labour and the place of the Bulgarian economy - trends and perspectives", served as a basis and stimulus for further development of the analysis made in this monograph. TABLE OF CONTENTS Chapter one. Theoretical foundations of production specialization and production structure in the world 11 1.1. Conceptual apparatus for clarification of modern international specialization of production 11 1.2. State of production specialization according to the nature and trends in international trade 16 1.3. Interaction between the production economic structures and the profile of 24 1.4. Changes in demand and supply in relation to international trade 32 1.5. Impact of the changing patterns of global trade due to the division of labour and specialization of firms 34 Chapter two. Technological innovation and international trade as drivers of growth and production restructuring 39 2.1. Technological innovation and trade as a growth driver 39 2.2. Cross-border data flows and economic development 45 2.2.1. The amount of the Global Datasphere 45 2.2.2. The role of data in the production process 51 2.2.3. The role of data in global trade 54 2.2.4. Research and development in the field of digital platforms and artificial intelligence - a pledge for the future development of international specialization of production 57 2.3. Approaches and methods for classification of high-tech products 66 2.4. The role of international cooperation in the formation of modern international specialization of production 69 Chapter three. Specialization of production in the EU economy and Bulgaria’s place 77 3.1. Production structure and specialization of European economy 77 3.2. Technology challenges and the potential of the Bulgarian economy 84 3.3. Analysis of Bulgaria's exports for the period 2010–2020 95 3.4. Possibilities of improving the specialization of production in Bulgaria 107 Conclusion 119 Appendices 121 References 124