Year 2012, Issue VOLUME 17
Date published30.8.2012
Table of content
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Nikola Yankov, Petya Ivanova
DEVELOPMENT OF THE SYSTEM OF SCIENTIFIC RESEARCH AT D. A. TSENOV ACADEMY OF ECONOMICS (A modest anniversary – a modest view of what has been done)Summary: The study is dedicated to the fifteenth anniversary of the Institute of Scientific Research at D. A. Tsenov Academy of Economics and the decision to publish the Scientific Research Almanac. It makes a historical review and outlines... The study is dedicated to the fifteenth anniversary of the Institute of Scientific Research at D. A. Tsenov Academy of Economics and the decision to publish the Scientific Research Almanac. It makes a historical review and outlines the main points of the development of the institute and the almanac. It systematizes the issues and publications of the Scientific Research Almanac. Current priorities are presented as well as some opportunities for the development of scientific research at D. A. Tsenov Academy of Economics. -
Tanya Gorcheva, Zdravko Lyubenov, Ivaylo Petrov
DERIVATION OF INTERNATIONALIZATION MODELS OF BULGARIAN COMPANIES IN THE SERVICES SECTORJEL: F23Summary: Today internationalization in services has become an independent force that has a clear upward trend. It is formed by a variety of factors: economic, political, tech-nological, socio-demographic and psychological. The study reveals... Today internationalization in services has become an independent force that has a clear upward trend. It is formed by a variety of factors: economic, political, tech-nological, socio-demographic and psychological. The study reveals the importance of internationalization of services for the Bulgarian economy. Theoretical formulations clarifying this process are investigated. On this basis, models are derived which explain the internationalization of Bulgarian companies in services sector from different perspectives. -
Georgi Batashki, Penko Dimitrov, Ivan Andreev
LEGAL AND ACCOUNTING PROBLEMS RELATED TO CORPORATE TAXATION OF LEGAL ENTITIESSummary: Studying the effects of some complex financial and economic categories as well as the terms and tools applied in the fiscal theory and practice is of crucial importance for both the business activities of the enterprises and the... Studying the effects of some complex financial and economic categories as well as the terms and tools applied in the fiscal theory and practice is of crucial importance for both the business activities of the enterprises and the fiscal policy of the state. The scope of the research is defined by the fact that the current legislation related to the corporate taxation of business entities does not always correspond to its economic purpose and is not aligned with the direct „taxes-incomes” relation. The importance of this problem arises from the need for resolving some current problems and outlining some rational possibilities for improving the accounting information provision related to corporate taxation. -
Rumen Vyrbanov, Veselin Popov, Nataliya Marinova, Stefan Petrov
RESEARCH AND ANALYSIS OF THE USE OF INTERNET TECHNOLOGIES IN THE BUSINESS OF SMALL AND MEDIUM ENTERPRISES IN BULGARIA AND THE EUROPEAN UNIONJEL: D80Summary: The study aims to find out the state and problems associated with the use of Internet technologies in Bulgarian small and medium enterprises, to reveal the reasons for the backwardness of our SMEs compared to those in the EU and to... The study aims to find out the state and problems associated with the use of Internet technologies in Bulgarian small and medium enterprises, to reveal the reasons for the backwardness of our SMEs compared to those in the EU and to develop methodological materials and recommendations for more efficient use of modern ICT in Bulgarian small and medium businesses. To fulfil the stated objective 56 small and medium enterprises were surveyed and the results for the application of Internet technologies in business were processed. The main issues are highlighted and options to solve them in our reality are proposed. The most important scientific contributions of the study can be presented as follows: an in-depth analysis of the results of the survey is made and concrete solutions are proposed to overcome the backwardness of Bulgarian SMEs; a methodology is developed to study the state of using Internet technologies in Bulgarian small and medium business; concrete methodological materials are provided for the needs of SMEs to use the Internet more successfully in business; the state and problems in the use of Internet technologies in SMEs in the EU are analyzed thoroughly; options are offered for systematic training of SME owners and managers, incl. e-learning in the field of Internet technologies. -
Margarita Bogdanova, Evelina Parashkevova Velikova, Kristina Pavlova
DEVELOPMENT OF A METHODOLOGY FOR RISK MANAGEMENT IN BUSINESS ORGANIZATIONS (ORGANIZATIONAL AND TECHNOLOGICAL ASPECTS)Summary: Risk management is an essential element of the structure of corporate man-agement. It is used to solve multifaceted and complex tasks that largely determine the development and success of an organization. The dynamics of the... Risk management is an essential element of the structure of corporate man-agement. It is used to solve multifaceted and complex tasks that largely determine the development and success of an organization. The dynamics of the surrounding envi-ronment requires the establishment of an adequate mechanism to facilitate the process of risk management in business organizations. In this light, an attempt was made to create a methodology to facilitate the process of organizational risk management. Stud¬ying the theoretical formulations of this issue and the practice of Bulgarian firms has led to the conclusion that it is possible to move towards a standardization method for risk management and that this process needs to be integrated in companies as part of their overall management system. -
Bozhidar Bozhinov, Nikolay Antonov
ON-LINE BANKING IN BULGARIA – STATE AND TRENDSJEL: G21Summary: Banking on an international scale is a continuous process of evolution and improvement. The advent of new information technology in banking institutions affects their activities, both to reduce the costs for collecting, storing,... Banking on an international scale is a continuous process of evolution and improvement. The advent of new information technology in banking institutions affects their activities, both to reduce the costs for collecting, storing, processing and transfering information about transactions and to impose alternative means of access to banking services, one of which is e-banking. The ever-increasing percentage of consumers using electronic banking services confirms the enormous potential of digital technology in the banking sector. This study presents the results of a survey on electronic banking services in Bulgaria as of June 2011. -
Georgi Batashki, Diana Imalova, Totka Kyneva, Ivan Andreev, Ventsislav Vechev
PROBLEMS RELATED TO ACCOUNTING AND INFORMATION PROVISION OF THE ACTIVITIES OF PUBLIC SECTOR ENTERPRISESJEL: M 41Summary: The research analyzes the current accounting practices of the public sector enterprises. The constantly growing requirements for the generated accounting information related to the activities of every enterprise are the main reason... The research analyzes the current accounting practices of the public sector enterprises. The constantly growing requirements for the generated accounting information related to the activities of every enterprise are the main reason for the search of theoretically grounded and practically feasible solutions to some specific and topical problems. This circumstance applies largely to the accounting systems of the public sector enterprises as well. On this basis ideas are offered for substantiated solutions to some theoretical and practical problems of accounting in budget enterprises. The practical approbation of these solutions in certain enterprises resulted in a higher quality of their accounting information product. -
Violeta Kraeva, Petya Emilova, Nataliya Marinova, Kremena Marinova
STUDY OF THE STATE-OF-THE-ART, POSSIBILITIES AND PROSPECTS OF IMPLEMENTING ELECTRONIC CUSTOMER RELATIONSHIP MANAGEMENT SYSTEMSKeywords: Electronic Customer Relationship Management System, financial sector, model of improving e-CRM system, customer-oriented business processSummary: Customer relationship management in financial enterprises is a key strategic factor for their success. In recent years this sector recognizes the importance of the Internet as a unified platform for doing business and as a main... Customer relationship management in financial enterprises is a key strategic factor for their success. In recent years this sector recognizes the importance of the Internet as a unified platform for doing business and as a main communication environment. Online banking, online insurance, personal customer service of various health, pension and insurance funds is impossible without a fully integrated electronic customer relationship management system (e-CRM System). The study aims to outline the results of a survey in 24 Bulgarian financial institutions with regard to: proliferation of e-CRM systems, architectural and functional features, and non-economic effects and benefits of their implementation, return on investment. Models were proposed for improving the system and customer-oriented business process. -
Hristina Atanasova
ORGANIZATION OF WORK IN A BRANCH OF AN INSURANCE COMPANYKeywords: branch, captive insurance company, right of establishment, freedom to provide services, foreign insurerSummary: One of the most commonly used forms for insurance activity in Bulgaria is the establishment of a branch. The opening of a branch is possible. It is the right of an insurer domiciled in a Member State but is an obligation of an... One of the most commonly used forms for insurance activity in Bulgaria is the establishment of a branch. The opening of a branch is possible. It is the right of an insurer domiciled in a Member State but is an obligation of an insurer from a third country. This means that the insurer from a Member State may use any of the other options for conducting insurance business whereas an insurer from a third country may conduct insurance and reinsurance only after entering the branch in the commercial register under the provisions of the Commerce Act. It is these different options that directed the author's interest in the chosen topic. The main objective pursued in the proposed project is to trace the historical development of regulations about how to conduct insurance business in our country, to give a legal description of the branch of an insurer and to compare an insurer in an EU Member State and an insurer from a third country. -
Stanislav Aleksandrov, Bozhidar Bozhilov, Diana Imalova, Valeriy Aleksandrov, Veselin Dekov
THEORETICAL AND APPLIED ASPECTS OF ACCOUNTING AUTOMATION IN NON-FINANCIAL ENTERPRISES AND BANKSJEL: M41Summary: The automated processing of economic information and accounting information, in particular, is the only modern alternative for effective functioning of the entire enterprise information system. The current research analyzes the... The automated processing of economic information and accounting information, in particular, is the only modern alternative for effective functioning of the entire enterprise information system. The current research analyzes the state of the existing trend in accounting automation through using business accounting software and automated bank information systems. Based on this, certain reasonable opportunities are offered to solve theoretical-methodological and practical issues in the accounting system of nonfinancial enterprises and banks. -
Veselin Popov, Yuriy Kuznetsov, Angelin Lalev
PRACTICAL APPROACH TO THE PREPARATION FOR THE MIGRATION TO IPV6JEL: D80Summary: With the exhaustion of the address space, provided by IPv4 protocol, the transition to IPv6 gets particularly important for the organizations. With the transition to IPv6 the organizations will use the new opportunities, which will... With the exhaustion of the address space, provided by IPv4 protocol, the transition to IPv6 gets particularly important for the organizations. With the transition to IPv6 the organizations will use the new opportunities, which will lead to benefits for businesses. The Migration to IPv6 will solve the problems faced by organizations when using IPv4: insufficient address space, wrong address space, the international problem of allocating addresses, problems with security, mobility, etc. The transition is difficult to accomplish at once, because it affects the entire network infrastructure – all the network devices and software applications that manage them. In this study, based on practical and applied approach, we have developed a methodology in steps and stages that must be completed in order to implement the migration to IPv6. Also the problems that may arise in planning this transition are examined. -
Galina Zaharieva, Dragomir Iliev, Karina Sarkisyan Dikova, Galin Stefanov
FOREIGN TRADE SPECIALIZATION AND ECONOMIC GROWTH OF THE EU MEMBER STATESSummary: The research „Foreign Trade Specialization and Economic Growth of the EU Member States” aims to study the relations between the production and trade speciali-zation and the economic development of the EU Member States under the... The research „Foreign Trade Specialization and Economic Growth of the EU Member States” aims to study the relations between the production and trade speciali-zation and the economic development of the EU Member States under the conditions of globalization and integration. These two processes impose various political, and hence – economic requirements to the Member States due to their different positions within the Union and the world in general. It covers the volume and structure of the trade flows among the Member States within the European Union as well as the trade flows of each Member States with other countries all over the world. The scope of the study also includes the changes in the trade specialization on the various stages of expansion of the EU in the period 2007-2010, which is characterized by the effect of various specific factors on the global economic development. -
Lyubomir Ivanov, Polya Angelova, Plamen Petkov, Krasimira Slaveva, Katya Chipriyanova
REGIONAL ASPECTS OF EMPLOYMENT AND UNEMPLOYMENT IN BULGARIA UNDER THE CONDITIONS OF ECONOMIC CRISISSummary: The development of the national economy under the conditions of economic and financial crisis is associated with serious challenges facing the labour market. The importance of employment in ensuring economic and social well-being of... The development of the national economy under the conditions of economic and financial crisis is associated with serious challenges facing the labour market. The importance of employment in ensuring economic and social well-being of society necessitates a statistical study of the regularities in its development. This study is of practical and applied character. Based on statistical data about the labor market and using the methods of statistical and econometric analysis we have established the major trends in the development and the socio-demographic structure of the employed and unemployed. We have performed a detailed analysis of the regional disparities in employment and unemployment indicators and applied the assessment approach to evaluate the impact of the economic crisis on them. -
Margarita Bogdanova, Eva Tsvetanova, Evgeni Todorov, Daniela Ilieva
DEVELOPMENT OF KNOWLEDGE ECONOMY IN THE DANUBE REGIONKeywords: -Summary: The objective of this investigation is to study the transfer of knowledge within the regional innovation system of the Danube region. The role of innovation and knowledge transfer in the context of regional development is... The objective of this investigation is to study the transfer of knowledge within the regional innovation system of the Danube region. The role of innovation and knowledge transfer in the context of regional development is identified, the concept of regional innovation systems is defined and the main determinants of the diffusion of innovation are presented. The potential of science and knowledge transfer centres as well as the barriers to developing innovations in the region are revealed. -
Petyr Kynev, Veneta Hristova, Iskra Panteleeva, Zoya Ivanova
A STUDY ON HUMAN RESOURCES IN LARGE BUSINESS ORGANIZATIONSSummary: Human resources are the key factor for the development of every business organization. Based on multivariable analysis of significant amount of statistical and empirical data we have consistently deduced a number of very interesting... Human resources are the key factor for the development of every business organization. Based on multivariable analysis of significant amount of statistical and empirical data we have consistently deduced a number of very interesting conclusions and generalizations about the state and the environment in which major business organizations operate in our country. The results of an in-depth survey of human resources in large businesses in Bulgaria are also presented. Particular attention is paid to the extent of the impact of environment on these resources. There is an emphasis on the best practices and problems related to their management and use as well as the challenges facing them. A number of ideas for improving the management of human re¬sources and their more rational use are justified and systematically presented. -
Penka Goranova, Stefan Stefanov, Nadezhda Tsvetkova, Rumyana Mihaylova, Zhivka Tananeeva
INTEGRAL ANALYSIS OF SCIENTIFIC RESEARCH IN THE PERIOD 1996-2010Summary: In line with the European strategy of scientific research Bulgaria has adopted the provisions and principles for carrying out scientific research. The national strategy of scientific research takes into consideration the... In line with the European strategy of scientific research Bulgaria has adopted the provisions and principles for carrying out scientific research. The national strategy of scientific research takes into consideration the peculiarities and trends of national scientific potential development and puts an emphasis on the relation of scientific achievements with practice. The scientific research at „D. A. Tsenov Academy of Economics” is focused on the need of a systematic institutional change through transformation of its position, role, managerial structure and financial incentive mechanisms. In spite of being institutionally systematic, the change is also oriented to individual researchers and their stimulation and motivation, as well as to career development of young researchers. The strategy proposes program balances, that are specific for the Academy, which take into consideration the contemporary trends in scientific research. The project covers issues related to development of scientific research within the European Union and nationwide, the state of research at „D. A. Tsenov Academy of Economics” during the period 1996-2010, indicators for assessing the outlined areas of project activity development and the potential for further improvement of that trend. -
Lyubcho Varamezov, Emil Nikolov, Georgi Gutsev
STAFF TRAINING – GENERATOR OF CORPORATE KNOWLEDGEJEL: Ì53Keywords: knowledge, training, training needs assessment, planning a train¬ing, training provision, training needs assessmentSummary: The present study is a natural continuation of the authors’ longstanding interest in corporate knowledge and the approaches for its management, finding expression in the development of three research projects and numerous... The present study is a natural continuation of the authors’ longstanding interest in corporate knowledge and the approaches for its management, finding expression in the development of three research projects and numerous publications in this field of science. In view of the fact that knowledge becomes increasingly crucial for the existence, development and prosperity of companies in today's economic climate, the issue about the approaches (ways) for acquiring new corporate knowledge comes to the foreground. One of these ways is staff training. Today, in times of crisis, the shortage of financial resources in Bulgarian enterprises restricts the use of the other methods known in business practice. Therefore, staff training becomes the most affordable method for generating the necessary knowledge tailored to the specific corporate processes of an enterprise. In this respect the study analyzes the extent to which Bulgarian companies take advantage of opportunities provided by the training for generating new corporate knowledge as well as the problems accompanying its implementation. -
Mihail Chipriyanov, Anatoliy Asenov, Stanislava Stoyanova
STUDYING THE POSSIBILITIES FOR A FUTURE DEVELOPMENT OF DISTANCE LEARNING MASTER’S DEGREE PROGRAMMES AT D. A. TSENOV ACADEMY OF ECONOMICSKeywords: education, distance learning, E-learning, Master’s degree programmes, economics, franchisingSummary: The main objective of the project is to study the possibilities for the future development of distance learning Master’s degree programmes at D. A. Tsenov Academy of Economics. To achieve this, the following has to be done: forming... The main objective of the project is to study the possibilities for the future development of distance learning Master’s degree programmes at D. A. Tsenov Academy of Economics. To achieve this, the following has to be done: forming a clear picture of the demand for graduates; identifying opportunities for improving the quality of the elements of the educational process; drawing up proposals for future development and improvement of the VJL Web-based learning system; defining a vision of D. A. Tsenov Academy of Economics’ market behaviour in terms of distance learning Master’s degree programmes. -
Atanas Atanasov, Galya Ivanova Kuzmanova, Stanislav Aleksandrov, Bozhidar Bozhilov, Kalin Yonovski, Radosveta Krysteva Hristova, Tsvetan Tsvetkov
SOME PROBLEMS OF ACCOUNTING TRAINING IN BULGARIA’S STATE HIGHER ECONOMIC SCHOOLS AND OPPORTUNITIES FOR ITS OPTIMIZATION AT „D. A. TSENOV” – SVISHTOVSummary: Accounting training is an integral part of the training of specialists in the field of economy not only in Bulgaria but also worldwide. This fact makes the problem of its content and quality significant and topical. In this context,... Accounting training is an integral part of the training of specialists in the field of economy not only in Bulgaria but also worldwide. This fact makes the problem of its content and quality significant and topical. In this context, the current practice of accounting training in our country’s higher economic state schools is studied. Guidelines are proposed based on comparative analysis for its improvement at „D. Tsenov” – Svishtov in line with the modern national and European priorities and practices. -
Krum Krumov, Emiliyan Tananeev, Pepa Stoykova, Nadezhda Tsvetkova, Zornitsa Petkova, Silviya Kostova, Momchil Antov
STATE AND POSSIBILITIES FOR ADAPTING TO THE ECONOMIC ENVIRONMENT OF THE BACHELOR AND MASTER’S COURSES IN FINANCIAL CONTROLSummary: Studying the specifics of controller jobs makes it possible to determine whether the training in controlling complies with the requirements for employment in the controlling institutions. Based on the classification and... Studying the specifics of controller jobs makes it possible to determine whether the training in controlling complies with the requirements for employment in the controlling institutions. Based on the classification and systematization of theoreti¬cal knowledge for the controlling activity and comparing them with the legal require¬ments for the practical realization of controlling graduates inferences can be made about the improvement of the theoretical training of prospective controlling specialists. The control theory has the unconditionally established classification of the kinds of controlling bodies according to which they may be: internal and external, specialized, special and general, having or not having penalty functions, etc. The training of students who are future controllers requires them to know the specifics of the educational and vocational institutions, where they will carry out their employment functions. -
Nikola Georgiev
APPLICATION OF THE EUROPEAN SCHEMES FOR HUMAN CAPITAL DEVELOPMENT IN BULGARIAJEL: À14Keywords: human capital, European schemes, schemes for employed persons, schemes for unemployed persons, training organizationsSummary: Human capital development requires lots of investments. They can actually be estimated and implemented by an individual, a business organization or the state. The usefulness of the investments is evaluated in terms of the... Human capital development requires lots of investments. They can actually be estimated and implemented by an individual, a business organization or the state. The usefulness of the investments is evaluated in terms of the effectiveness which they bring to the development of subjects and the implementation of their knowledge, skills and habits. The European Union funds various projects and schemes for unemployed and employed people related to the human factor development: „Back to Work”, „Development”, „Adaptability”, „I can”. We have tried to outline the main features of the above schemes. We analyzed them in terms of their realization putting emphasis on two regions with the highest unemployment rate – Montana and Smolyan. Particular atten¬tion is paid to the scheme „I can” and in particular to statistical data analyses and their links to data from the empirical research among service providers and individuals in¬volved in the scheme. We used data from the Employment Agency, opinions of experts and professionals engaged in implementing the schemes and based on the analysis we reached certain conclusions and offered some proposals. -
Todor Krystevich, Marusya Smokova
ESTIMATING WILLINGNESS-TO-PAY AND PRICE SENSITIVITY FOR EDUCATIONAL SERVICES USING ADAPTIVE CHOICED-BASED CONJOINT ANALYSISKeywords: willingness to pay, reservation price, price sensitiveness, adaptive choice-based conjoint analysis, educational serviceSummary: In this study, we present and prove an empirical approach for measuring willingness-to-pay and price sensitivity for educational services (master's programs in economics and management) offered in substitution setting with low... In this study, we present and prove an empirical approach for measuring willingness-to-pay and price sensitivity for educational services (master's programs in economics and management) offered in substitution setting with low visibility of the actual consumer value. Our experiments are based on adaptive choice-based conjoint analysis. We estimate willingness-to-pay on an individual level, based on part-worth utility estimates derived using hierarchical Bayesian approach. At the aggregate level, we specify and derive market response functions and thresholds at which price sensitivity changes dramatically. Based on part-worth estimations we build a „market simulator”, based on optimization gradient method. Based on it we found the „optimal” product bundle that maximizes the share of consumers' preferences in two dimensions – institutional and competitive. We found that the present supply of integrated educational services is not relevant to the structure of preferences of the potential students. In terms of financial management of educational institutions, there is considerable potential for optimizing cash flows by rethinking and changing their price policies – from uniform charges for different master’s programs towards nonlinear pricing.