Economics 21

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  The Economic Efficiency and Financial Sustainability of Agricultural Holdings

  The purpose of this article is to study the levels and trends of some basic indicators characterizing the economic efficiency and financial sustainability of agricultural holdings. The study is based on official statistical information (NSI, MAF, Eurostat) and covers the period 2006-2013. It uses the following survey methods: systematic and ... The purpose of this article is to study the levels and trends of some basic indicators characterizing the economic efficiency and financial sustainability of agricultural holdings. The study is based on official statistical information (NSI, MAF, Eurostat) and covers the period 2006-2013. It uses the following survey methods: systematic and comparative analysis; method of statistical groupings, inductive and deductive methods of analysis. The survey results show that there is no clear steady upward trend in the efficiency and financial sustainability of agricultural holdings in the country. The economic performance of agricultural holdings growing field crops repeatedly exceed the performance achieved in the other types of holdings, mainly due to the larger sizes of the holdings and the support received rather than the more efficient production. The agricultural holdings growing perennial crops are in the most unfavourable situation.

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  The Sustainability of Farms

  The article answers questions like “What is sustainability of farms?”, “What are the mechanisms and modes of managing the sustainability of farms?”, and “How should we assess the sustainability level of farms?”. First, the evolution of the ‘concept’ of sustainable farming is analysed and defined as the ability of farms to maintain their ... The article answers questions like “What is sustainability of farms?”, “What are the mechanisms and modes of managing the sustainability of farms?”, and “How should we assess the sustainability level of farms?”. First, the evolution of the ‘concept’ of sustainable farming is analysed and defined as the ability of farms to maintain their managerial, economic, environmental and social functions in the long run. Second, the principal mechanisms and modes of managing the sustainability of farms are systematically approached. These include the institutional environment, market, private, collective, public and hybrid modes. Next, a system of criteria and indicators is proposed to assess the sustainability level of farms at the contemporary stage of development in Bulgarian agriculture. Finally, an approach to analysing and assessing the management system of farm sustainability is presented.

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  Methodological Features of Risk Management in Internal Control Systems

  Instruments for an alternative approach to risk management in internal control systems under revolutionary changes in an organization’s development are presented in this paper. The functions and application of instruments for the identification and measurement of the threats to the organization are demonstrated in the first section of the paper. ... Instruments for an alternative approach to risk management in internal control systems under revolutionary changes in an organization’s development are presented in this paper. The functions and application of instruments for the identification and measurement of the threats to the organization are demonstrated in the first section of the paper. The role and application of instruments to counteract the threats to the organization are explained in the second section of the paper. The instruments proposed in the paper are illustrated with some results from the research project ‘Theoretical fundamentals of an internal standard of measurement and evaluation of threats to organizations’, financed by the National Science Fund of the Bulgarian Ministry of Education and Science.