"Scientific research" Almanac

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  PECULIARITIES AND PROBLEMS OF EQUITY FINANCING OF A BUSINESS

  Equity financing underlies the right investment decision-making, engages banks, ensures increased production and receipts, and strengthens the company’s positions on the national and international markets. Under the conditions of economic crisis and in the presence of a credit restriction and limited access to the capital market, equity fi-nancing ... Equity financing underlies the right investment decision-making, engages banks, ensures increased production and receipts, and strengthens the company’s positions on the national and international markets. Under the conditions of economic crisis and in the presence of a credit restriction and limited access to the capital market, equity fi-nancing of small and medium-sized companies in our country is crucial for their sur-vival. A company’s prosperity depends on the appropriate use of all financing tech-niques, i.e. it depends on the rational combination of equity financing and external financing.

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  ECONOMIC GROWTH IN TIMES OF CRISIS – MYTH OR REALITY IN THE BSEC COUNTRIES

  The paper presents a study of the economic development of the countries from the Black Sea Economic Cooperation (BSEC) block as an opportunity to assess the rate and pace of their economic development and the opportunities for Bulgaria, Romania and Greece (the EU member-states in BSEC) to develop their growth potential. Especially important (in ... The paper presents a study of the economic development of the countries from the Black Sea Economic Cooperation (BSEC) block as an opportunity to assess the rate and pace of their economic development and the opportunities for Bulgaria, Romania and Greece (the EU member-states in BSEC) to develop their growth potential. Especially important (in times of global financial and economic crisis) is the relation be¬tween the GDP and the ability of free foreign trade economies to establish growth factors. The study focuses on the economic potential within the BSEC in terms of the main trends and growth factors in the BSEC economies. The aim of this study is to provide a critical analysis of the economic development trends of the BSEC countries in terms of identification of key factors supporting economic growth in the 21st century. The study is structured in two parts. The first part presents a comparative monitoring analysis of the trends in the key macroeconomic indicators for the period 2003-2010 in the BSEC countries. The second part presents growth rate models of the BSEC countries in terms of the level of openness of their economies and the dynamics of their export and import flows.

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  REASONS FOR THE CHANGES IN THE VOLUME AND QUALITY OF INDIVIDUAL CUSTOMERS' LOANS PROVIDED BY COMMERCIAL BANKS IN BULGARIA

  The high credit activities of commercial banks in Bulgaria as regards citizens and households just before the consequences of the global economic crisis, as well as the efforts of local people to maintain a quality standard of living, are the main reasons which increase the burden of individual customers’ loans in the loan portfolio of bank ... The high credit activities of commercial banks in Bulgaria as regards citizens and households just before the consequences of the global economic crisis, as well as the efforts of local people to maintain a quality standard of living, are the main reasons which increase the burden of individual customers’ loans in the loan portfolio of bank institutions. The worsening of economic indicators in the country after the beginning of 2009 forces the banking institutions to change their behaviour on the credit market and to seek effective ways to limit the ever increasing non-performing loans among the population. The purpose of the current study is to trace the tendencies in the change of volume and quality of the banks’ overall consumer loan portfolio for the period December 2006 – June 2012, and to outline the main reasons of the worsened quality of loans extended to individuals for current needs by the local commercial banks.