Economic Archive

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  PROMOTING THE PARTICIPATION OF SMEs IN DUAL TRAINING IN THE CONTEXT OF REGIONAL DISPARITIES IN BULGARIA

  The aim of the paper is to make recommendations for the development of the dual system in Bulgaria in terms of increasing the participation of SMEs and taking into account the regional specificities of the educational structure of the population and youth unemployment. Financial incentives, a large-scale information campaign and visibility of ... The aim of the paper is to make recommendations for the development of the dual system in Bulgaria in terms of increasing the participation of SMEs and taking into account the regional specificities of the educational structure of the population and youth unemployment. Financial incentives, a large-scale information campaign and visibility of participating enterprises are some of the important factors to encourage SMEs to become partners in the dual system. In order to ensure a wider participation of enter¬prises, it is important to gradually increase financial incentives (through support in the form of grants, tax relief, etc.). The existing differences between regions in Bulgaria suggest that a more substantial incentive for SMEs to become partners in dual training could be achieved by applying a regional criterion. When planning measures for the development of the dual training system in Bulgaria, efforts should be made to cover more persons at risk of dropping out of the education system and persons who will not enter higher education.

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  RISK AND RETURN ON INVESTMENTS IN PHOTOVOLTAIC POWER PLANTS THROUGH A PROJECT COMPANY AND LOAN FINANCING

  Abstract: The aim of this study is to present in detail the risk, financial, and engineering aspects of investments in photovoltaic power plants (PVPPs) based on the most likely scenario for financial and economic development. For investments in PVPPs with a capacity of over 1 MW, the use of the project company approach can be recommended. This ... Abstract: The aim of this study is to present in detail the risk, financial, and engineering aspects of investments in photovoltaic power plants (PVPPs) based on the most likely scenario for financial and economic development. For investments in PVPPs with a capacity of over 1 MW, the use of the project company approach can be recommended. This approach pursues two basic goals: (1) the construction of PVPPs with optimal installed capacity and product¬ion parameters; (2) achievement of a projected level of sales and profits. Investments in PVPPs logically bear two groups of risks – systematic and unsystematic. Among these risks, attention should always be paid to the dynamics of price levels in electricity markets, which are key to the financial and economic return on investment. These calculations are also particularly sensitive to changes in interest rates when loan financing a project company with high financial leverage.

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  THE SHADOW ECONOMY AND TAX EVASION – BEHAVIORAL ATTITUDES AND COUNTERMEASURES

  Taxation, corruption, excessive regulations, and ineffective governance stand out as primary drivers behind the emergence of the "shadow economy" (also known as the "grey," "informal," or "unregistered" economy). The prevailing theoretical models suggest that these variables are closely inter¬related and can lead to either a positive or negative ... Taxation, corruption, excessive regulations, and ineffective governance stand out as primary drivers behind the emergence of the "shadow economy" (also known as the "grey," "informal," or "unregistered" economy). The prevailing theoretical models suggest that these variables are closely inter¬related and can lead to either a positive or negative balance. The positive balance is characterized by stable institutions, light regulatory burdens, a broad tax base, often high taxes and revenues, and a small size of the shadow economy. Conversely, the negative balance involves unstable institutions, excessive and burdensome regulation, diverse tax bases, low revenues, and a significant size of the shadow economy. The larger the tax wedge (the difference between the total labour cost and income after taxation), the larger the informal economy becomes. The aim of this study is to present the results of an empirical field research on employer and employee attitudes toward the shadow economy, along with a discussion of effective measures to limit the "grey sector."