Economic Archive

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  Guidelines for Analysing the Financial Statements of Bulgarian Publicly Traded Insurance Companies

  Financial statements provide information necessary to analyse and assess the financial position of publicly traded companies. Information users include a wide range of entities, such as creditors, suppliers, customers, investors, external control bodies, etc. This paper promotes the thesis that the information disclosed in financial statements ... Financial statements provide information necessary to analyse and assess the financial position of publicly traded companies. Information users include a wide range of entities, such as creditors, suppliers, customers, investors, external control bodies, etc. This paper promotes the thesis that the information disclosed in financial statements helps investors in their decision to invest in the shares of publicly traded companies. A precise analysis of financial statements may result in a decision to purchase, not to purchase, or to sell some of the stocks of the companies which are subject to analysis. The article focuses on publicly traded companies in the insurance sector.

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  Opportunities to Improve the Portfolio Performance Based on Dividend Strategies and Equity Home Bias

  The article examines the equity home bias puzzle and the "Dogs of the Dow" dividend strategy under conditions of the Bulgarian capital market. It was found out that local investors hold 74.1% of their portfolios in domestic stocks, although ICAPM suggests weight of 0.007%, and the "Dogs of the Dow" strategy generates annual risk-adjusted ... The article examines the equity home bias puzzle and the "Dogs of the Dow" dividend strategy under conditions of the Bulgarian capital market. It was found out that local investors hold 74.1% of their portfolios in domestic stocks, although ICAPM suggests weight of 0.007%, and the "Dogs of the Dow" strategy generates annual risk-adjusted hyper-profitability of 11.18%. Following the dividend strategy, combined with good international diversification provides good opportunities to improve portfolio performance.

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  A New Yuan or a New Monetary System

  The research area of the present study is the Chinese yuan (renminbi). The research subject is the evolution of the Chinese yuan from a national to a global reserve currency. The paper tests the proposition that the rise of the Chinese currency is a sign of deep and qualitative changes in the international monetary system. The aim of the study is ... The research area of the present study is the Chinese yuan (renminbi). The research subject is the evolution of the Chinese yuan from a national to a global reserve currency. The paper tests the proposition that the rise of the Chinese currency is a sign of deep and qualitative changes in the international monetary system. The aim of the study is to analyse and track the evolution in the current situation in the international monetary system, in order to highlight the factors and the reasons for the rise of the Chinese yuan and to find indications of the direction of the future development of the system as a whole.