Research Papers of UNWE is a peer-reviewed academic journal established in 1925 at the Free University, current University of National and World Economy – Sofia. The journal has established traditions in the Balkans in the academic publication of research findings in economics, business, and related applied social sciences. The journal is fully Open Access. The journal follows an Online First publication model: accepted manuscripts are published online promptly after peer review and editorial processing are complete. Average peer review time: approximately 4-6 weeks Language: Bulgarian and English (all abstracts are published in English) Frequency: quarterly (four issues per year) Publisher: “UNWE Academic Publishing House” ISSN (print): 0861-9344 ISSN (online): 2534-8957
University of National and World Economy
Authors retain copyright to their works. All publications are distributed under the terms of the Creative Commons Attribution 4.0 International (CC BY 4.0) license.
On the Matter of Competency Evaluation of the Experts from Budget Committees
Aim of the paper is to work out a methodology for competency evaluation of experts from budget committees of large organization under conditions of uncertainty and lack of enough historical information.Paper consists of four parts. Prerequisites for working out the paper are set out in the first part. In the second part instruments of the methods from the third part are described. Third part contains six version methods for competency evaluation of experts from budget committees of the organization. In the fourth part effects of the methods' applying are systematized and approbated.According to its author the paper could be qualified as a basic scientific elaboration on evaluation of experts from budget committees of the organization under uncertainty. IN a practical manner paper would support introducing of budgeting process into management practice of the organizations.
Copyright (c) 2004 Maya Lambovska (Author) https://creativecommons.org/licenses/by/4.0
Random Deviations and Systematic Errors and Their Impact on Life Table Indicators
Statistical data processing of demographic information in Bulgaria seems to be excessively elongated and complicated - from the death reports through different local and central administrative units, the population register up to the national statistical authority. Such a transportation and exchange of information on different carriers through different departments might be a premise for errors and discrepancies of diverse nature which might affect even the most analytical indicators like those of the life tables. The risk of accidental, inaccurate or incorrect application of the corresponding methodologies of data processing should not be underestimated too.The problems of random deviations and systematic errors are examined in the study and a wide range of solutions are sought for the impact on the life table indicators both within the stochastics of the life table generation and the demographic processes in general as well as external to demography factors.In the process it is shown how some intermediate results could be used for comparative analysis of mortality using life table data bearing in mind the variability of the indicators due to different factors.
Copyright (c) 2004 Nikola Cholakov (Author) https://creativecommons.org/licenses/by/4.0
Rationalization of Bulgarian Rail Network
In study titled „Rationalization of Bulgarian rail network“ is addressed a problem of present interest, namely the restructuring of Bulgarian railway transport.Restructuring is an objective necessity, which comes from requirements of market economy and must change the former model of development of railway transport. However, restructuring retards because there are many problems that increase the price and the efforts for its implementation. With a view to all this it is needed to make a profound analysis of questions and problems, arising from restructuring and affecting the economic development of Bulgarian railway transport. Because of this the fundamental aim of the present study is to reveal an important restructuring element, which is rationalization of rail network.The present study is structured into introduction, three parts and conclusion, focused around specific problems. Consistently are examine the essence and directions of rail network’s rationalization, technical & economical indexes of main and branch railway lines, and some aspects of exploitation of these branch lines. At the end of study there are applications with parameters of all branch lines and these which were stopped from exploitation.With the purpose of clarify the process of futuring railway rationalization, the author is presenting a methodology, which government and railway’s leaders must follow, if they want to avoid impetuous decisions considering fortune of branch railway lines.Pending question of rationalization of Bulgarian railway network is not only topical, but historical, because liquidation of secondary branch lines will go about with unthinkable consequences for society and whole country.
Copyright (c) 2004 Georgi Arnautski (Author) https://creativecommons.org/licenses/by/4.0
Internet (Web) Protection of Accounting Information
Connection of business to Internet Technologies gives a lot of additional advantages but it leads to some risk. Risk connected with the possibility of unestablishe remote access to shared Accounting Information (AI) and access to the AI send by the connecting channels of company network, based on the Internet.Programmer MethodsThey include the use of:Password for access to the shared AI on the network. Concerning the passwords, observance of the International Security Standard C2 requirements is recommended,Determination of rights for remote access to the shared AI. These rights are defined on the level of a user (a chief accountant) or a group of users (Accountants, cashiers, material responsible staff, administrators),Archiving of the AI in virtual time – on-line archiving is means of the AI protection from destructions caused by technical reasons. It is carried out on the Internet on a server disk of data, On-live updating of anti-virus programs (Live Update). Companies that have worked out the antivirus programs, offer on-line (live update) files updating with virus definitions,Updating of the operating system (Update). The aim is eliminate the critical punches of the system security,Protective walls (Firewall). They are means of the AI protection in the company computer network, based on the Internet attacks from outside and inside.Virtual Private Networks (VPN). They are used for dependable connection of the company to its branches using the Internet. The aim is to process and send the AI.On-line scan of workplace. It is done on purpose of testing the system security ability. Microsoft Baseline Security Analyzer (MBSA) has been developed on purpose of evaluation of the protection degree of one or more computers from the VPN based on Windows. MSBA determines if the built-in security systems are outdated and had better be updated;Cryptographic MethodsCryptographic methods for the AI protection are applied while sending the information by the connecting channels. One of the technologies for the AI cryptography used in the Republic of Bulgaria is Public Key Infrastructure (PKI). Confidentiality, attestation of senders identify, AI completeness and protection from repetition are realized by this technology.Legal MethodsLegal methods for the AI Internet Protection are based on the existing normative base in the Republic of Bulgaria, including:Electronic Documents and Signatures Protective LawCriminal Procedure Code;Technical MethodsTechnical methods for the AI Internet Protection include technical methods for access restriction to the AI as:Smart cardsHardware realized protective walls (Hardware Firewall).
Copyright (c) 2004 Emil Denchev (Author) https://creativecommons.org/licenses/by/4.0
Accounting Models for Insurer’s Capital Management
The purpose of the present thesis is to improve the theoretical-methodological and organizational aspects of the insurers’ accounting and capital management models and to set them in line with the contemporary analysis requirements and with the processes of integration and globalization of insurance worldwide, taking into account the national and foreign expertise in the theory and practice of insurance and accounting. The methods of the study have been presented from the positions of the systematic approach by investigating, analyzing and evaluating the existing models and proposing new ones of insurers’ capital accounting for. Insurance product cost formation accounting models and regression income and reinsurance fees & commission accounting ones have been developed. A model for determining the insurers’ capital needs have been proposed. Insurers’ solvency zone has been formulated investigating its components and boundaries. Specific instructions for improvement of the forms of investing capital have been defined for the purpose of improving its profitability and a model for the investment risk management through diversification of the insurers’ investment portfolio has been presented.
Copyright (c) 2004 Maya Nachkova (Author) https://creativecommons.org/licenses/by/4.0
Electoral System and Level of Party Fragmentation in Republic of Bulgaria (1991 – 2001)
Electoral system has a direct effect over the intensity of the competitive and cooperative relations between the political parties on an electoral and parliamentary level, which determines in a great extent the form of the party system and the parties fragmentation. The present study is dedicated to the analysis of the active electoral system in the Republic of Bulgaria during the period 1991-2001, as well as to its influence over the parties fragmentation within the country.In the First Part of the study it is given a short description of the proportional system in the multimandate electoral regions (MERs), as well as its effects. There are formed the main thesis of the Study hypotheses.In the Second Part are reviewed the main approaches of research of the degree of the influence of the electoral systems over the parliamentary systems and the degree of parties fragmentation. In the Third Part, the Bulgarian electoral system is characterized and some assumptions are formed in regard to its effects.In the Forth Part, it is presented a detailed analysis of the Bulgarian case and are formed the results of the Study, which support the thesis that the proportional electoral system in the MERs, due to the methods for distribution of the mandates and the V. P. Ondt’s method (rule) in particular, as well as the high 4 % electoral barrier, provides different bales of disproportional effect on the parliamentary elections in Bulgaria within the period 1991-2001. This effect has its highest value in 1991 and the lowest one in 1997. This objectively determines the limited (low) fragmentation of the parliamentary party system as the number of the relevant and/or effective parties from one election to another is limited – from 3 to 5 parties or coalitions under the „numeral criterion“. There is a concentration effect of the electoral system over the party system.The effectiveness of the proportional system in the MERs in Bulgaria within the period 1991 – 2001 depends not so much on the concentration of the party system, but on the political behavior of the parliamentary majorities and the opposition. And this is the major reason for the political government and even institutional instability in 1991-1997. The financial and internal political stability which occurred in Bulgaria in 1997-2001, as well as the opening of Bulgaria towards the European structures, happened in return to the negative consequences of the concentration of power resources and partocracy, instead of the control and balance of the three powers, corruption and clientelism of the different political structures, the party conflicts and partisanship and the decrease in the interaction of the parliamentary parties with other party formations and most over with structures of the Civil Society.Two trends occurred – of marginalization of the small parties and of some relevant party formations such as BBB and the Eurolefts, and of a deepening electoral absentism (unwillingness to vote), which highest point was recorded in 1997.
Copyright (c) 2004 Radka Tsenova (Author) https://creativecommons.org/licenses/by/4.0
Entrepreneurship and Transport Policy in Bulgaria
The offered for publishing study is aiming at the presentation of the current state and development opportunities of transport entrepreneurship in Bulgaria. Certain fields of transport are covered, such as rail, maritime, river and air sectors, due to the strategic role of those fields as well as the author’s conviction that road transport and infrastructure have already been explored in a lot of studies, papers and dissertations. The forwarding sector has also been removed from the research due to the physical limits in the contents and the fact that this filed is not directly tackled by the transport policy in Bulgaria.The research object can be defined as the opportunities for managing the transport entrepreneurship through the transport policy and for that reason the alterations for securing competitiveness and entrepreneurship in the field of maritime, river, rail and air transport are studied. At the same time, there are some influences on the side of the transport infrastructure shown in the research results.One of the main results is that though with certain difficulties, the sector policy is dedicated to the development necessities due to the future joining to the EU and thus adapting to the entrepreneurial approach, leaving the transport operations to the free market by means of relevant liberalization measures. The governing body – Ministry of transport and communications – is taking an active role in the process of improving the legal background according to the European requirements and the contemporary development of the transport system.The beginning of corporate entrepreneurship in the field of transport, supported by the Ministry of transport and communications and the Regulator National Railway Administration are presented through two comparatively new existing companies – Bulgarian State Railways, PLC and Railway Infrastructure Company.Certain difficulties exist about the policy measures in maritime and river transport, aiming at raising the entrepreneurial activity of carriers and port operators, including private ones. Privatization of the fleet should be carried out as well as concessions of different port occupations. The present financial measures are concerning the Programme for restructuring and modernization of the ports.On the other hand, the realization of the airport modernization programme would bring to the increased traffic to and from Bulgaria as well as the air space. A proposal for a new evaluation of the opportunities for increasing the balance of payments over the use of the transport infrastructure is made.
Copyright (c) 2004 Antoaneta Kirova (Author) https://creativecommons.org/licenses/by/4.0
About the Relevance of the Economic Lexis
The incorrect utilization of the economic terms is a sign for underdevelopment of the economic science and supposes searching for adequate, to real process, terms of the relevant phenomenon.The lack of relevance of the economic lexis is shown at first place, on the matter of forming the macro-classification of the recapitulated activities and at second place, on the matter of the incorrect utilization of some terms.There is a critical examination of the classification of the recapitulated activities: business and not business activities, economic and not economic activities, public and private activities, merchant and not merchant activities.From the point of view of the lack of relevance of the usual terms, there is analysis of the defects of the expressions: commodities and services, market economy and market business, economy and business.
Copyright (c) 2004 Pano Lulanski (Author) https://creativecommons.org/licenses/by/4.0
Financial Assistance to Local Authorities – Practice and Problems
Financial assistance to local authorities in bad economic state and impossibility to manage their financial obligations put many problems to be dealt with. They concern availability of financial difficulties and necessity of central assistance, and also creating proper normative and economic conditions to overcome and avoid difficulties. The main purpose of this paper is to discuss central assistance to municipalities from the perspectives of central government, as well as local authorities. A special attention is paid to the possibilities of using objective criteria of distinguishing legitimate cases from illegitimate ones for central assistance and building an adequate system of local finance. Various practical decisions have been submitted to get over the information asymmetry by using effective methods of monitoring. The last part of the paper consist of recommendations for building a working system for assisting local authorities in financial difficulties. The analysis made comes from the need of keeping financial discipline at local level and preventing from wasting public resources.
Copyright (c) 2004 Pressiana Nenkova (Author) https://creativecommons.org/licenses/by/4.0
Strategic Accounting Analysis of Value – Revolutionary Phase of Accounting Science’s Development
Researched in the paper are the essence and the particularities of the strategic accounting management – the modern topic into accounting science’s development. Defined are the differences between operative (current) and strategic analysis, and that last one should not be identified with the long-term accounting research. The activity based costing and accounting budgeting are interpreted as an emanation of strategic management under accounting form. The conclusion is that in accordance with the dialectic laws accounting analysis get back to its basic economic roots of research.
Copyright (c) 2004 Trifon Trifonov (Author) https://creativecommons.org/licenses/by/4.0
Strategies of Electronic Financial Services Development in Bulgaria
The main objective of this research is to analyze the electronic financial services development in Bulgaria, with focus on the role and application of the strategic analysis in the field of electronic banking. The principal arguments for this research are associated with the very fast penetration of modern information and communication technologies in the economy and business, and substantial development of financial intermediation in Bulgaria. On this basis, the current analysis needs to explore and assess the fundamental changes passing nowadays in the payment infrastructure, national payment system and banking technological development.The current research was focused on the contemporary trends in the electronic banking development in Bulgarian practice, the payments executed via Internet and the National card payment system BORICA. These topics were analyzed by the point of view of their specific features and in the context of their principal operational interrelationships. Profound analysis was made of the particular electronic financial services, provided by the commercial banks in Bulgaria. Moreover, the study comprises a research on the relevant strategies, aims and techniques applied by the financial institutions in order to meet the contemporary business challenges in the banking sector.
Copyright (c) 2004 Silvia Trifonova (Author) https://creativecommons.org/licenses/by/4.0
Challenges in the Management of the Public Sector’s Organizations
The questions concerning the challenges in the management of public sector’s organizations are engaged in the research. The prerequisites for the differentiation of the public sector and the peculiarities in the management of the organizations in it are examined.An important part from the publication is the examination of the management of the organization in the sector of education. Some challenges in their management, as well as tendencies in the development of the different educational degrees in Bulgaria are pointed out.An object of the research is also the problems of the management of the public health organizations. An analysis of the public health organizations’ activities, as well as the specialists employed in the health care sector is carried out. Further on, directions for the improvement of the work in the health care sector are suggested. The problems in the management of the public organizations in the sector of railway transport are analyzed and proposals for the improvement of their activities are made.
Copyright (c) 2004 Hristo Hristov (Author) https://creativecommons.org/licenses/by/4.0
Non-Profit Organizations in the Process of Integration with the European Community
There is no uniform view with regard to the nature and scope of the economic sector of nonprofit organizations, neither in countries with well-established practices and well-structured and grounded theory on not-for-profit organizations, nor in Bulgaria. The fact that there is more than a single term referring to the same economic agent, which has already proved its significance in the social and economic development of countries, poses a problem, the solution of which should not be postponed in the context of the European integration and the prospects of legal regulation of a non-profit legal entity. In comparing the critical analyses of Bulgarian and non-Bulgarian concepts, the author tries to define a notion encompassing all organizations functioning within Bulgaria, the ultimate goal of which is not to form a financial result, but to provide social assistance, or ‘cushion the blows’ of the developing free market economy, and raising the living standard.The large number of non-profit organizations set up in our country, the diversity of their articles of association and type of legal registration, the lack of any experience or bibliographical sources are objective difficulties, which non-profit organizations face in the EU accession process. Improving their performance will depend on how effectively they will cope with two key issues: defining and up-dating the mechanisms of raising finance, and the providing for an adequate accounting treatment and data presentation of their operations.
Copyright (c) 2005 Rumiana Pozharevska (Author) https://creativecommons.org/licenses/by/4.0
Linear Programming - An Effective Methodology to Solve Economic Problems
In the 70-ies of the previous century most researchers believed that linear programming (LP) was one of the best techniques for solving a multitude of complex economic problems. Since early 80-ies, however, its influence has been on the wane. Publications related to the application of LP in economy have been decreasing in number while the number of its critics has been on the increase. The latter argue that the LP has no advantages compared to traditional calculation and construction methods (CCM) because certain inherent flaws affect its competitiveness. Therefore it cannot be of great importance for the economic theory and practice as a methodological tool targeted to tackle complex problems.The present paper attempts to review the arguments and examine how far this critique can be justified. Can it be claimed that the weaknesses of LP make it uncompetitive compared to other modifications of CCM?Based on a great number of experiments a comparative evaluation of the two methods is made using the following factors:a) effectiveness of the solutions proposed;b) time required to solve the problems;c) deviation of the solutions found with regard to preliminary requirements.The strengths and weaknesses of both methods have been traced with regard to two types of economic problems:1) determinants – the parameters affecting their solution are accurate quantities.2) stochastic problems – the parameters affecting their solution may be probability-related quantities i.e. they may be subject to probability variations within a certain range.The findings of LP’s strengths as a methodology to be used to address complex economic problems with probability parameters are of especial significance for the economic theory and practice.
Copyright (c) 2005 Nikolai Nikolov, Maria Peneva (Author) https://creativecommons.org/licenses/by/4.0
Concerning Identification of the Non-Economic Process
The paper determines two types of activities (material and ideationally-transformational) which serve as the context to look into the nature and character of the non-economic process.Its main features and its institutional structure are reviewed and summarized. A consistent attempt is made to differentiate between economy and economics, as well as economy and noneconomic process in the context of the unity between production and consumption on the one hand, and in terms of the existing effect of different historical circumstances on them, on the other hand.The paper examines the operational and structural boundaries of the non-economic process in its social and economic form . Some practical solutions of the matter under review have been researched.
Copyright (c) 2005 Pano Lulanski (Author) https://creativecommons.org/licenses/by/4.0
Contribution to the Development of Personal Computing: the Legendary Compucorp 450
During the organization of the Laboratory for Demographic Research/Labour and Social Protection Department of the University of National and World Economy in 1977 it became quite clear that no serious scientific work on demographic data analysis could be feasible without suitable computer technology. Let alone to develop a multi-dimensional data base for the population of Bulgaria which should facilitate building reasonable hypotheses for the future and verifying different forecasting alternatives. The head of the Laboratory Prof. Nicola T. Naoumov managed somehow to convince party and government authorities of that time that with paper and pencil only it is impossible to derive the desired scientific research products on such sensitive problems like demographic ones and to expect serious scientific support for the government policy on population. The outcome of these efforts was the equipment of the Laboratory with a present-day computer like Compucorp model 450.In this study the features of such a forerunner of personal computers are examined and it is attempted to reveal what tendencies could be spotted in the development of information technologies during the seventies of the last century.
Copyright (c) 2005 Nikola Cholakov (Author) https://creativecommons.org/licenses/by/4.0
The paper argues the necessity of creating a general theory of utility and value as categories of value-oriented economic behavior of an individual. The author uses arguments of utility and marginal utility, well known in literature, and introduces the concepts of value and marginal value. It is argued that the marginal value theory cannot have less importance for economics than the significance attributed to the theory of marginal utility. The conclusion is reached that thefunctions (curves) of general utility and the general value of the varying quantity of a given wealth do not go back to a coordinated point of departure but to other points of the coordinate axes of crucial importance for the economic equilibrium of an individual. A relativist theory of value and utility is propounded which enables to combine both value and utility, as well as the marginal value and the marginal utility, in a non-contradictory microeconomic theory in complete agreement with modern economics. This is achieved by introducing relative utility and value units specific for each individual person. However, in the context of his/her economic subjective economic conduct they may be regarded as comparable and become the base for the units of economic equilibrium which, in their turn, serve as points of departure for a fundamental microeconomic analysis. The relativist theory enables to construct the curves of product demand and labour supply. Consequently, the paper postulates the concepts of surplus product, surplus utility (introduced for the first time in this study) and surplus value in micro-economics. The author’s principal goal is to prove the existence of surplus product, surplus utility and surplus value in economic life which are of relevance for the modern economic theory (economics) and should become and integral part of that science. Marx’ s theory of surplus product and surplus value is but a particular case of the argument the author is defending in the paper. The paper also puts forward a case for the existence of such concepts as marginal surplus product, marginal surplus utility and marginal surplus value.
Copyright (c) 2005 Kamen Mirkovich (Author) https://creativecommons.org/licenses/by/4.0
Groundings for a General Theory of the Economy (JEL - AO)
The main idea and goal of the study is the constructing of the object indication of the general theory of the economy (GTE). The scientific hypothesis is based on the GTE as a metatheory that is unifying sciences that have as a common object of research into the economy. In the first part of the study – the contemporary economy as a research object, the concepts “economy” and “economics” are specified. With the first concept - economy is defined as an object of research by many sciences, including economics, and with the second - the economy as a science (economics). Next there is a definition of the economy as a concept and its contemporary clarification and its impact on society. In the second part – initial principles of the GTE, a brief historical article about the stages of development and classification of sciences is made and also examples from the practice are given. In this part is grounded the use of the concept metatheory and the approach from the point of view of analytical philosophy for the cognitive assertions as formal, informal and basic. Further exposition is subordinated to the following logic determination of the fundamental formal assertion as a leading element of the GTE (the behavior of the economic subjects), formulation of a common subject matter of the GTE and finally, a classification of the sciences within the framework of the GTE as a metatheory. Presented grounds of the GTE and its structure may serve the development of the science relief in scientific research into the economy, revealing new scientific fields, forming the science policy. If we present the structure of the GTE as graph, then it is possible to project interaction between sciences in the structure of the GTE on the background of axes of general scientific fields and their probable projection in the future. This is a goal of the following scientific study. Now it may safely be said only that the key for development of the GTE and in particular of economics is the implementing of research by the experts in all sciences that have the economy as a common object of research.
Copyright (c) 2005 Tsvetan Kolev (Author) https://creativecommons.org/licenses/by/4.0
Accounting Treatment of the Risk Management in the Modern Trade Banking Activity
The object of the study is the economic characteristics of the financial instruments and the possibility of their usage in the process of active management of the inherent in the modern trade banking activity risk. The analysis is concentrated on the methodological aspects of the accounting treatment of the different strategies for management of interest, currency and credit risk using various financial instruments like options, futures, forwards, swap transactions.
Copyright (c) 2005 Ivo Chehlarov (Author) https://creativecommons.org/licenses/by/4.0
Innovation Strategy as a New Product Success Factor
The study discusses the nature and contents of firm’s new products strategy. First peculiarities of the innovation strategy are systematized as a system of product innovation most important decisions. Approaches to its definition, used in previous research, are presented. Suggestion and reasons are given for a new definition of innovation strategy.Focus of the study is contents of the innovation strategy. Each element of the new product strategy is characterized in detail as well as interrelationships between elements. It is argued that elements of this strategy are: goals concerning new products, strategic areas of product innovation, peculiarities of new products in each strategic area, portfolio of new product projects, and innovation budget of the firm.
Copyright (c) 2005 Krassimir Marinov (Author) https://creativecommons.org/licenses/by/4.0
Criteria and Indicators for TV Audience Segmentation
This paper presents a systematization of criteria and indicators for TV audience segmentation. This systematization is realized by the means of analysis of secondary data. Within this project numerous practical evidences and academic papers have been analyzed.The author offers for basic criteria for TV audience segmentation – geographic/geo-demographic, demographic, psychographic, and behavioristic. Each of the criteria mentioned above consists of several indicators.The geographic/geo-demographic criterion includes the following indicators: region, climate, Area of dominant influence of TV stations (which are geographic indicators); county size and population density (which are geo-demographic indicators).The most often used demographic indicators include: gender, age, family size, family life cycle, occupation, incomes, education, social class, and religion.The psychographic indicators for TV audience segmentation include: viewers’ life style, values, and individuality. The author has compared the American and European approaches to TV audience segmentation.The behavioristic indicators for TV audience segmentation include: amount of viewing (how many hours per day), benefits sought from the TV media, and viewers’ loyalty.
Copyright (c) 2005 Hristo Katranjiev (Author) https://creativecommons.org/licenses/by/4.0
Management of the Traditional Knowledge in the Field of the Expressions of Folklore and the Art
The presented article concerns interesting and significant question for the both the theory and the practice as such the field of intellectual property in particular and the economy as whole. This research submits, discusses and suggests a general analysis for so called new objects of intellectual property named traditional knowledge. The major characteristics and specifics of the object have been examined and considered while the accent has been referred to the traditional knowledge in the field of the expressions of folklore and the art.The fundamental framework drawing the contents parameters of the object has been created. The definitions for the different elements of the traditional knowledge, direct or indirect which established them as the object of intellectual property have been given. The collaboration between the traditional knowledge and the cultural heritage of the community has been indicated and proved. The traditional knowledge has been presented as the competitive advantage of the community and as a result of this their economic significance as object of intellectual property has been emphasized.As thus the research embodied the existing and the potential possibilities of the forms and manners for management of the traditional knowledge in the field of the expressions of folklore and the art. There are offered several models of management submitted to the actual economic or society interest. The article suggests specific approach in understanding the phenomenon traditional knowledge and more precise their economic and socio-culture significance.
Copyright (c) 2005 Vladya Borisova (Author) https://creativecommons.org/licenses/by/4.0
Bulgarian Urban Transportation State of Art and Prospects
Urban transportation is fair condition in Bulgaria. There are some negative tendencies in time of socio-economic changes: decline of passengers, decrease of number of urban lines and transportation vehicles for urban transportation.More of urban transportation companies are private or owned by the municipalities. The analyses of exploitation and economic indexes indicate that the level of them is in worse condition. The main place of analyses is given to find factors which are fluent on the state of art and future development of urban transportation in Bulgaria.A detailed prognosis of future urban transportation development on the EU ecological requirement is made. The main directions for future development are: to save and develop clean urban transportation under introducing the ecological standards and norms, fuel economy and changes of type of fuel for urban vehicles.The author has a rich experience in urban transportation studies, projects, evaluations and other papers in Bulgaria, EU countries and Africa.
Copyright (c) 2005 Ivan Breshkov (Author) https://creativecommons.org/licenses/by/4.0
Analysis of the Development of the Credit Derivative Market
The intensive development of credit derivatives market has motivated a lot of research on financial instruments for credit risk management. The financial products on credit risk are becoming more and more popular due to different reasons. The main reason is that the global financial market nowadays contains much larger exposure to credit risk than to interest rate- or exchange rate risk. The credit risk is the main component of a great part of bank activities.The credit derivatives market is a market where credit risk, respectively credit protection is purchased and sold.The credit derivatives represent a new generation of derivative products – this is the last financial innovation since the beginning of 90s of 20th century.The main kinds of credit derivatives have been analyzed: 1. Credit Default Swap. 2. Total Return Swap. 3. Credit-Linked Notes. 4. Financial Products on credit spread: 4.1. Credit Spread Forward. 4.2. Credit Spread Option. 4.3. Credit Spread Swap.The credit derivatives market is still only over-the-counter. There are preparations going on for introducing a futures contract on a credit index. This will create an exchange sector of the credit derivatives market
Copyright (c) 2005 Yordanka Stateva (Author) https://creativecommons.org/licenses/by/4.0
Theoretical Principles of Internal Standard for Measurement and Evaluation of Threats to the Organizations
The aim of the article is to submit in general conceptual and methodical aspects of establishing (internal) standard for evaluation of threats to the organizations. According to the article authors this process finds expression in elaborating license board of the organization as an evaluation instrument of threats to it. The license board bases on two types of non-utility functions (by von Neuman-Morgenstern): non-utility functions of licensing institutions regarding changes in parameters, characterizing organizational activity and non-utility functions of organization regarding aggression of its licensing institutions. The article is worked out in two parts. Part one puts forward general principles and technological scheme of the standard for measurement and evaluation of threats. Part two consists of methods for non-utility functions defining.
Copyright (c) 2005 Ognyan Simeonov, Maya Lambovska (Author) https://creativecommons.org/licenses/by/4.0
Managerial and Economic Aspects of the International Mergers and Acquisitions in Bulgaria
The current paper focuses on merger and acquisition (M&A) transactions led by foreign investors in Bulgaria in the years of transition and economic restructuring as well as ongoing integration into the EU. The research emphasizes on major managerial aspects of the transactions (such as strategic planning, relatedness, problems of integration) as well as selected economic issues (modes of restructuring, possible effects, etc.).The analytical framework of research has been provided through an interdisciplinary approach to M&As (theory of mergers hypotheses combined with an international business perspective).Empirical data has been gathered through qualitative methods of research, such as unstructured and semi-structured interviews, structured inquiry through questionnaires distributed among foreign investors in Bulgaria, case studies. Quantitative methods (T-test, Mann-Whitney test, and correlation analysis) through SPSS 11.5 statistical package were also applied in deriving results and conclusions.Some of the major conclusions relate to motives for investment through M&As, strategic planning of the transactions, relatedness, inter and intra-firm integration, accommodation of the foreign investor in a cross-cultural context, contribution to the local subsidiary, evaluation of the transaction success, possible tendencies for future development, etc.
Copyright (c) 2006 Tzvetomir Tzanov (Author) https://creativecommons.org/licenses/by/4.0
Agriculture Production Cooperatives in This Country– Social Functions and Competitiveness
The main theses of this article – the contemporary agriculture production cooperatives as a structure of the civil society in Bulgaria does not meet it’s social functions especially at the village and in this way to improve all the village life. The big part of managers, are representatives of the old style of the management and have not had a new managerial culture and market’s orientation. Their expectations are to the equal budget’s subsidies without taking into account the real results and social programs.In Bulgaria the extent of impersonal trust is lower and the extent of the economic action’s embeddedness into the social relations is high. For this reason is very difficult to construct the adequate criteria for selective subsidizing but this is very important for improving it’s economic results and it’s opportunity to realize their social functions.
Copyright (c) 2006 Temenuga Rakadjiiska (Author) https://creativecommons.org/licenses/by/4.0
Trends for Development of Bulgarian Agricultural Cooperatives
The purpose of the paper is to analyze and assess the specific mechanism of functioning of the contemporary cooperative structures in agriculture and on this basis to offer potential solutions and suggestions for their future development in the EU pre-accession period. On this basis are depicted variants for enhancing the organizational cooperative statute, concrete solutions for transforming and reconstructing the agricultural productive cooperatives in service agricultural cooperatives which with common money funds and equipment will provide mechanical, trade and credit services to family agricultural farms of the cooperative members, and are suggested trends for the development of credit cooperatives.
Copyright (c) 2006 Albena Miteva (Author) https://creativecommons.org/licenses/by/4.0
Development and Problems of Insurer Accounting when Passing from Varied Practices to Generally Accepted Principles
The objects of the research in this study are the stages of development of insurer accounting, connected problems and possibilities of achieving of comparable and reliable accounting information. The existing traditions and imposed practices in insurer accounting have been studied, including the influence of Directives of European Union. The applied approaches, harmonization and standardization in accounting practices and their impact on development of insurer accounting and its legal framework have been analyzed. The effective International Financial Reporting Standard 4Insurance Contracts (effective date 01.01.2005) is presented as realization of the first stage of harmonization of insurer accounting and as an expression of contemporary processes of convergention and globalization in the sphere of accounting.
Copyright (c) 2006 Mariana Mihailova (Author) https://creativecommons.org/licenses/by/4.0
Teamwork has been established in University studies during the last decades as a very efficient form. Developing the social skills in students has become more imperative as well as to participate in taking joint decisions in accomplishing collective goals.Teamwork is a modern pedagogy novelty. It has got science status established in theoretic and practice-enclosed didactic researches. Its technology in the process of education brings out various didactic techniques and models. They aim to identify the didactics relations in a new construction, based on more productive knit between students and students and lecturers. That construction helps achieving higher individual success. Team organization of studies is a bringer of the new teaching paradigm – personal life and action within plural society.Interaction and common support between subjects during the learning process are the most effective forms of teamwork in university studies. By using them students manage current learning strategies and lecturers explore the opportunities of implementing modern teaching models.
Copyright (c) 2006 Luchiyan Milkov (Author) https://creativecommons.org/licenses/by/4.0