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D. Radilov, G. Chervenski
VAR - Models of Shocks in the Business Cycles of Final Consumption Expenditure of Households
Summary:
Abstract: The article has experimented with a methodology for using vector autoregressive models (VAR) to study the impact of shocks in the business climate and economic activity on the business cycles of final con-sumption expenditure of households. It refers to six countries in Central and Eastern Europe (Bulgaria, Czech Republic, Hungary, Poland, Romania and Slovakia) for the period 2000 to 2015. The results show that the expectations for the financial situation of households over the next 12 months and the level of employment have a stimulating effect on the business cycle of final consumption expenditure of households. The expectations for unemployment, inflation and savings over the next 12 months have a negative impact on the business cycles.
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Petya Vasileva
Current Challenges to the Offshore Business
Summary:
Offshore business is such an integral part of the financial sec¬tor that we can hardly imagine the world of money without it. Today we are as accustomed to offshore business as people were to slavery in the 18th and the 19th century when slave labour was considered normal and natural. How¬ever, it goes without saying that just like slavery, offshore zones are doomed to gradual decline because they function is parasitic. According to a study conducted by the international confederation Oxfam, offshore companies evade taxes for nearly $ 200 billion each year. In fact about 50% of Russia's assets, 57% of the Arab Emirates’ oil funds, and 30% of Africa's funds are hidden in offshore zones. According to the above report, 1% of the world population now have more wealth than the other 99%. The richest sixty peo¬ple have more money than three and a half billion poor people. Such inequali¬ty is possible only through the cooperation of offshore zones. The US Nation¬al Bureau of Economic Research estimates that about $ 5.6 trillion is kept in offshore zones around the world. This amount represents 8% of the global equity or 10% of the world's gross domestic product.
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Alexander Alexandrov
THE BUSINESS CYCLE AND ITS CONTEMPORARY CHARACTERISTICS
Summary:
The article aims to present the business cycle phenomenon and its contemporary characteristics. Understanding the business cycle theory will allow for more in-depth research on this subject for the Bulgarian economy, through which to increase the macroeconomic efficiency of the country's economic policy.
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Ivan Todorov, Alexander Alexandrov, Kalina L. Durova
FUTURE EURO AREA MEMBERSHIP OF BULGARIA IN TERMS OF THE BUSINESS CYCLE
Summary:
In the present paper, vector autoregression (VAR) is used to assess the extent to which Bulgaria’s economic cycle is synchronized with the one of the euro area (EA). The main fiscal and monetary factors affecting the coordination of the business cycles of Bulgaria and the EA are identified. Recommendations for macroeconomic policies are formulated to support the synchronization of Bulgaria’s economic cycle with the one of the EA and to prepare our country for the adoption of the euro.
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Margarita Mihaylova
THE IMPACT OF GLOBAL TRENDS AND COVID-19 ON INTERNATIONAL NEW VENTURES
Summary:
The COVID-19 pandemic has accelerated existing trends in the global business environment thus changing the conditions for performing international entrepreneurial activity. Four such trends of a key role in international business are the digitalization and active use of communication technologies, the restructuring of global supply chains, the erosion of trust in international organizations, and finally yet importantly, the integrity of international business networks and knowledge transfer. The paper explores the impact of the acceleration of these trends on the creation and the success of international new ventures.
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Veniamin Todorov
EXOGENOUS MACROECONOMIC SHOCKS AS CONTEMPORARY BUSINESS CYCLE DETERMINANTS
Summary:
The article presents the results of a research that aims to test the hypothesis that exogenous macroeconomic shocks affect present-day business cycle dynamics in a way that extends beyond the COVID-19 pandemic and the military conflict in Ukraine. The analysis covers the present-day manifestation of three key types of exogenous shocks - health shocks, oil price shocks and natural disasters. The research showed a lot of evidence that corroborates the hypothesis and hence it is confirmed. The three types of exogenous shocks have played an important role not only for the last two years, but also beyond this time horizon.
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Ludmiła Stemplewska
CORRUPTION IN BUSINESS - PROS AND CONS
Summary:
Corruption has been a subject to social construction and reconstruction for a long time. The social dimension of corruption means that this is a phenomenon whose meaning, positive or negative values are determined by people. Corruption changes, since it was already a subject to changes in the past. Therefore, if we currently believe that negative effects of corruption is something right and promotes the stability of society, then it is not enough to refer to research, analyses or descriptions of the phenomenon. Even if in certain situations society is forced to offer bribes, lead anti-corruption policy or take specific actions, we have to make moral choices all the time and prove to ourselves that this activity is undesirable, especially in the developed countries.
The aim of this article is to analyze and assess the issue of corruption, including topics such as: emergence of corruption, effects of corruption, reducing the level of corruption, Poland against the background of corruption and the correlative analysis of corruption in the world.
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Lubomir Lubenov
MARKETING STRATEGY FOR A PUBLIC LIBRARY
Summary:
Abstract: The aim is to develop a marketing strategy for Regional Library Lyuben Karavelov – Ruse. The funds for the adequate development and survival of the researched library are generally insufficient. State and municipal institutions and structures, as key financial and other partners, do not have sustainable policies and a long-term vision for the development of the library. This necessitates diversifying its funding sources through a marketing strategy. Accordingly, markets are segmented, current and prospective target markets are determined, and approaches for positioning Regional Library Lyuben Karavelov – Ruse are outlined. Marketing tools "8P" (Product, Place, Promotion, Price, Processes, Physical Environment and Evidence, People, Productivity and Quality) and "4C" (Customer, Convenience, Communication, Cost) have been developed to ensure better positioning of the library and the implementation of the strategy.
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Viktor Monev
PLURILINGUALISM, MULTILINGUASLISM IN THE EUROPEAN UNION AND MULTILINGUAL DIDACTICS
Summary:
The core of business communications is the language as a means of exchange of information. In today's globalized world, most people are plurilingual, i.e. they understand and use several languages. This is due both to the development of the international trade and business and the increasing frequency of private international contacts. Plurilingualism affects people’s social environment, career development and culture. According to the modern concept, a plurilingual person must have certain competence in at least two other languages in the same or in a different field of communication. In this respect, plurilingualism is fully consistent with the language policy of the European Union. The main goal of the study was to examine the current state of plurilingualism in the field of business communications and outline some theoretical aspects of plurilingual didactics.
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Mariya Pavlova, Rayna Petrova
THE EMERGING CHANGES
IN THE ACCOUNTING PROFESSION AND THE ACCONTING PRACTICE UNDER THE INFLUENCE
OF TECHNOLOGY
Summary:
The implementation of new technologies in accounting brings many benefits for the future, but also carries many risks. In the current digital era, the adequate practical application of technologies in accounting can become a strategic advantage for companies. In relation to the digitalisation and the upcoming organizational changes, both in the sphere of accounting and in the companies themselves, accounting specialists are a key factor for success. This study gives a thorough overview and analysis of specialised literature in this area and a number of empirical studies. The results show that the literature mainly focuses on certain technologies, while other are actually used in practice. Differences have been identified between the accounting practices of the USA and the European countries. The authors outline three directions in which technologies help accounting teams to transition to modern accounting and effectively perform their tasks in the digital world. The conclusion is that today, specialised skills and strategic thinking of accounting specialists are particularly important and in the near future, they will not be entirely displaced by technologies.
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Rumen Vyrbanov, Krasimir Shishmanov
NEW GENERATION SYSTEMS FOR ELECTRONIC BUSINESS
AND ELECTRONIC PAYMENTS
Summary:
The concept of new generation electronic business (e-Busi¬ness 2.0, Social Business) refers to companies which integrate social technologies and instruments in all business processes, i.e. internal as well as external ( clients, suppliers, business partners), and in this way overcome many of the traditional organisational barriers which slow down the exchange of information and collaboration.
The first part of the article studies the basic characteristics of the new generation of electronic business systems which were formed under the influ-ence of Web 2.0, social media, mobile technologies and cloud calculations. The article also tries to outline the changes in the three main spheres of elec-tronic business: the use of Web 2.0 technologies for managing internal corporate communication, the design and development of new products and knowledge management (the Internet environment), corporate communication and interaction with external partners and clients (Extranet environment, B2M model) and electronic trade (online stores, B2C model).
The second part of the article analyses the possibilities and advantages provided by modern technologies for developing electronic payments, i.e. the use of debit and credit cards, contactless payments, mobile banking and bitcoins.
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Ilhomjon Ergashov
INCREASING INNOVATION POTENTIAL AND INVESTMENT ACTIVITY IN THE DEVELOPMENT OF EFFECTIVE ENTREPRENEURSHIP
Summary:
From the experience of forming the economic system based on market relations, it is known that innovation potential and investment are one of the mechanisms that move the system. Particularly, foreign investment is characterized by the fact that the country has a considerable source of capital in the country's economy, the problem of financing, the problem of material security in the process of launching new investment projects in some sectors of the economy and solving other key issues.
In order to address the aforementioned issues in the article, it is necessary to involve foreign capital as much as possible, especially in the region's economy, to make new proposals for investing in foreign investors and to attract the investments based on new innovative projects. This article analyzes the factors influencing the development of entrepreneurial activity, and develops scientifically grounded recommendations and recommendations for raising their innovative potential and investment activity under competitive conditions.
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Petya Emilova
Cloud Computing Technology in Business Process Management
Summary:
To achieve competitive advantage today, organizations rely on new technologies, innovative management ideas and their successful symbiosis. Business Process Management is a management concept which has become a key instrument for business transformation. Modern organisations apply this concept to model, automate and optimise their processes. Cloud computing technology offers a new opportunity for the successful and efficient develop-ment of BPM in organisations. This article studies the advantages of BMP positioning in the cloud and presents a distributed architecture of a BPM plat-form which is positioned in the cloud and divides the support of various ac-tivities and data between the cloud and the user.
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Shteryo Nozharov
HYBRID THREATS AS
AN EXOGENOUS ECONOMIC SHOCK
Summary:
The aim of this study is to contribute to the theory of exogenous economic shocks and their equivalents in an attempt to explain business cycle fluctuations, which still do not have a clear explanation. To this end the author has developed an econometric model based on a regression analysis. Another objective is to tackle the issue of hybrid threats, which have not yet been subjected to a cross-disciplinary research. These were reviewed in terms of their economic characteristics in order to complement research in the fields of defence and security.
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Joachim Hentze, Björn Thies
Aims, requirements and standards for reporting the sustainable development of businesses
Summary:
Businesses are not strangers to the idea of sustainable develop¬ment and systematically adhere to the principles of sustainable management. This invariably includes compliance with the requirements and standards for sustainability reports to be disclosed to shareholders and other stakeholders. This article defines the term "sustainable management" and discusses the requirements and standards for reporting of its implementation and results.
