Конференция, 2017, Кръговата икономика
Permanent URI for this collectionhttp://research.bfu.bg:4000/handle/123456789/1782
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Item ABOUT SOME CONTROVERSIAL QUESTIONS REGARDING THE NON-FINANCIAL INFORMATION IN THE ANNUAL FINANCIAL STATEMENT (IN THE CONTEXT OF THE CIRCULAR ECONOMY)(Бургаски Свободен Университет, 2017) Nikolova, GerganaThe topic of the study is set in the aspect of: the increasing needs of the users of financial and non-financial information in the Annual Financial Statement; legislative changes for disclosure of the non-financial information in the AFS in force since 1st January 2017; the lack of experience in Bulgaria for disclosure of non-financial information and the search for good practices in other countries where they exist and are developed. The main question which is related to the study is: Is a higher quality of the information in AFS achieved for the users through the disclosure of the non-financial information?Item CONVERGENCE OF FINANCIAL AND MANAGEMENT ACCOUNTING IN THE CONTEXT OF COMPANIES’ INTEGRATED REPORTING(Бургаски Свободен Университет, 2017) Stancheva-Todorova, Eleonora; Stoyanova, IliyanaIntegrated reporting, considered by specialists as the corporate reporting of the future, influences financial and management accounting and enriches the traditional information links between them. The objective of this paper is to prove that the information links and interactions traditionally existing between the financial and management accounting systems will be kept and enriched in a situation of the entities' integrated reporting. The existing relationships and interactions between the two accounting systems in the context of International Financial Reporting Standards (IFRSs) will be taken into account, as well as their development, triggered off by this new form of accountability.Item CULTURAL ATTRIBUTES OF BULGARIAN MANAGEMENT(Бургаски Свободен Университет, 2017) Bobina, Mariya; Sabotinova, DianaThe paper displays the cultural profile of Bulgarian management and responds to the gaps in comparative studies by positioning Bulgaria in cross-cultural space. The study is based on the survey of Bulgarian managers (2014) per the GLOBE methodology and on culture distance (friction) measures for Bulgaria relative 57 countries/societal cultures. It highlights the behavior-tied profile that is low on Uncertainty Avoidance, Performance and Future Orientation, visible Collectivism and high Gender Egalitarianism; and the values-tied profile that is compatible with all-countries average scores with slightly higher indicators of Collectivism, Assertiveness, and Uncertainty Avoidance. This research distinguishes between countries that display cultural proximity to Bulgaria (East European, Latin Europe, Latin American clusters) and those with greater distance (Germanic, Asian Nordic, Middle Eastern clusters).Item DO COMPANIES HAVE TO BE SELFISH TO BE COMPETITIVE IN THE MARKET? BUSINESS STRATEGY ON A VALUES-BASED APPROACH IN THE CIRCULAR ECONOMY: THE GERMAN MITTELSTAND(Бургаски Свободен Университет, 2017) Wehner, EminThe world has been struggling with an economic crisis since 2007 in general. Next to the economic crisis based on diminishing growth and employment, the world economy has also been facing unprecedented environmental and social problems. The current state of the world economy is directly connected to the orthodox Neoclassical Economic Theory which has been claiming that businesses are only profit making and all economic agents including company owners and managers must be acting only for their very own wealth maximisation. This is very well reflected in ‘the shareholders’ wealth maximisation’ approach of the Anglo-American stock-market-based economic system. Therefore, the Neoclassical Model provides its legitimacy to such actions caused environmental and social problems such as global warming and huge income discrepancies. However, recently new concepts such as ‘circular economy’ have also been introduced and widely accepted by sensible companies and governments. In addition, new discussions have also gained a momentum in the public scene regarding ‘sustainability of business’. In this paper a simple conceptual framework is introduced to integrate strategic management, ethics or moral values with business sustainability in the new circular economy with a special focus on the German SMEs sector (Mittelstand) to reflect the practical examples of sustainable and ethical approaches to business. This is important and interesting since the German economy has been doing the best among other European countries in the current economic crisis.Item EMPIRICAL RESEARCH ON THE RISKS AT THE STAGE OF DESIGN OF THE INNOVATION PROCESS CONDUCTED IN BULGARIA(Бургаски Свободен Университет, 2017) Kirova, Milena; Velikova, PreslavaItem EMPLOYEE INVOLVEMENT CULTURE OF PUBLIC ENTERPRISES NEPAL(Бургаски Свободен Университет, 2017) Dhakal, Daya; Baltov, MilenPublic enterprises are directly relates to the interest of public therefore smooth operation of PEs is concern of government. Current performance of PEs are not good which creates financial burden to the government. Several literature explained employee involvement culture affects organizational performance. Study over this issue is less priority by Nepalese researchers. Therefore, this study is humble effort of fulfil this gap and explore association of involvement culture with performance. Different statistical tools comparative study, correlation and regression used to explore interrelationship of involvement with performance. The result shows, successful PEs have strong involvement culture as explained in previous empirical studyItem EXCHANGE RATE, INTEREST RATE AND STOCK MARKET: EVIDENCE FROM PAKISTAN STOCK EXCHANGE(Бургаски Свободен Университет, 2017) Quayyoum, Sobia; Simonetti, Biagio; Husnain, MuhammadThe study analyzes the impact of change in exchange rate and interest rate on the volatility of stock market in Pakistan from January 2000 to December 2015 on weekly basis. The result clearly indicates the existence of ARCH and GRACH effect, and further, change in exchange rate is a source that can enhance the volatility of equity markets in Pakistan. While the effect of interest rate is observed reverse as compare to exchange rate. It has calm effect on the volatility of dependent variables. Finally, study has implication for investor, managers and policy makers in Pakistani equity market.Item FROM COUNTRY BRANDING TO COMPETITIVE IDENTITY – AND EVEN FURTHER(Бургаски Свободен Университет, 2017) Papp-Váry, ÁrpádIn recent years, country image centres and country brand councils have been created all over the world, because countries noticed that a better country brand may result in more tourists, stimulate foreign investment, and strengthen export. At the same time, the competition of countries is becoming more intense. In 1945, the UN had 51 member states – today, the number is 193. These states all ”fight” for the above reasons: tourists, investors, export, etc. Fortunately, they do not fight for these things with weapons, but marketing tools. However, country brands and their development, that is, country branding also has its special characteristics. This article discusses these aspects, and concludes with the dilemma if there is country branding at all. All this is closely connected with the theme of the conference: governance and strategic management.Item HUMAN RESOURCE STRATEGY–HUMAN RESOURCE MANAGEMENT IMPORTANT PARTS OF MANAGEMENT STRATEGY AND BUSINESS SUCCESS(Бургаски Свободен Университет, 2017) Schwehn, WinfriedItem IMPROVEMENT OF ADMINISTRATIVE SERVICE IN BULGARIA - MANAGEMENT STRATEGIES, MODELS AND PROBLEMS(Бургаски Свободен Университет, 2017) Yorgova, YuliaImproving the administrative service and providing quality public services in a transparent, efficient and effective way is one of the main goals of the administrative reform in Bulgaria. To achieve this goal, many strategies, concepts and models have been adopted at national level over the years. Their implementation in practice has highlighted the need for a radical change in the governance style of public administration. The aim of the study is to clarify the crucial role of the operations function of public institutions in this change through the application of successful business administration models in the management of administrative services delivery processes.Item MARKETING INNOVATIONS IN THE SMES IN BULGARIA AND ICELAND: EMPIRICAL STUDY ON CURRENT SITUATION(Бургаски Свободен Университет, 2017) Anastassova, Lina; Luizov, AtanasItem ROLE OF FINANCIAL EDUCATION ACTIVITIES TOWARDS INVESTMENT DECISIONS IN AN EMERGING COUNTRY OF PAKISTAN(Бургаски Свободен Университет, 2017) Husnain, Muhammad; Baltov, Milen; Quayyoum, SobiaAsset allocation is an investment strategy that aims to balance risk and reward by apportioning a portfolio's assets according to an individual's goals, risk tolerance and investment horizon. There is no simple formula that can find the right asset allocation for every individual. Therefore, investors may use different asset allocations for different objectives. Financial Literacy is the education and understanding of various financial areas, and it includes the knowledge of making appropriate decisions about personal finance. This paper discuss the role of financial education activities towards investment decisions in an emerging country of Pakistan. Further, we discuss the importance of demographics and financial literacy towards the investment decisions in Pakistan.Item SOLVENCY II - RISK ASSESSMENT AND ACCOUNTING(Бургаски Свободен Университет, 2017) Velinova-Sokolova, NadyaSolvency II is a new risk-based framework for setting the capital requirements of European insurance companies, in force since January 2016. The solvency capital requirement (SCR) is set such that the insurer can meet its obligations over the next 12 months with a probability of at least 99.5%. Project Solvency II is aimed to create a system of solvency taking into account the profile of risk which insurance companies and reinsurance companies are exposed to on account of their activity. It will turn out to be necessary to build risk assessment models taking into account risks which have not been taken into account when assessing capital requirements for insurance companies so far. This paper discusses the risk assessment and accounting in the practice of insurance companies.Item SPATIAL PLANNING AND URBAN DEVELOPMENT IN PORTUGAL: INSTRUMENTS, PROBLEMS AND CHALLENGES(Бургаски Свободен Университет, 2017) Bailoa, SandraSpatial and urban planning has been practiced for centuries in Europe. In Portugal, the major tradition comes from agricultural and forest area and only by the end of 20th century a true territorial management system emerged which allowed also the integration of some legal figures that already existed. Nevertheless, it has been argued that it came a little too late to meet territorial trends and dynamics already established for several decades and with serious consequences at regional level. This paper presents Portuguese territorial management system and discusses the importance of its implementation to sustainable development of territory and its resources.Item STRATEGY FOR TECHNOLOGY VENTURES SELECTION(Бургаски Свободен Университет, 2017) Hyung, Kyungjin; Ruskov, PetkoThere is growing interest for investment into high-technology start-ups and spin-offs emerging from the Bulgarian universities and research institutes. But technology transfer and commercialization is risky and has been slow mainly because academic research is often too early-stage to be directly commercialized. The authors will compare the strategy with that of Korea by analyzing its venture certification practice including past performance and recent challenges. It adopts Kibo Technology Rating System (SM 2.0) in Korea for evaluating technology start-ups based on growth potential and business risk used for debt guarantee financing and certifying as 'venture'-legitimate national certificate for policy benefit. This paper aims to propose a strategy for technology ventures evaluation and selection for Bulgarian academic institutions.Item TECHNOLOGICAL INNOVATIONS AND NATIONAL ECONOMIC IDENTITY(Бургаски Свободен Университет, 2017) Boiko, IrinaItem THE EFFECTS OF CORPORATE GOVERNANCE ON PERFORMANCE OF FEDERAL STATUTORY BODIES IN MALAYSIA(Бургаски Свободен Университет, 2017) Ali, Abd; Zain, Mustaffa; Abidin, Zubaidah; Embi, RoslaniThis study securitized the effects of corporate governance (CG) on performance of Federal Statutory Bodies (FSB) in Malaysia. Various static approaches have been used such as Pooled OLS, Fixed Effect and Random Effect to analyze cross sectional time series data over the year of 2009 to 2013 for 51 FSB. The study found a strong evidence of significant positive effects of Corporate Governance, including Internal and External Governance mechanism on financial and non-financial performance: Key Result Areas (KRA); Accountability Index (AI) and Return On Equity (ROE). It is therefore recommended that the Malaysian public sector agencies should enhance good corporate governance practices in order to accelerate their performance.Item THE FUTURE AND DYNAMIC STRATEGIES(Бургаски Свободен Университет, 2017) Algueró, Carlos; Lobera, EstherStrategic analysis studies general and competitive environment, who gives a SWOT matrix which allows managers make strategic decisions based on the relationship between Treats, Opportunities and Strong, Weaknesses. But these decisions making process could promote investments with long term return, without considering future of this long term in treats and opportunities. This work try to associate the environment classic analysis with prospective analysis, were different assumptions of relationship between variables set up several scenarios who promote a set of new dynamic strategies.Item THE PLIGHT OF WORKERS IN THE HOSPITALITY INDUSTRY IN SOUTH AFRICA(Бургаски Свободен Университет, 2017) Vettori, StellaMost workers in the hospitality industry are not standard employees. They are generally referred to atypical employees. Most of the employees are unskilled and female. Generally these employees do not enjoy decent working conditions. This is despite progressive labour legislation. The minimum protection they do enjoy is insufficient to provide a decent lifestyle. The purpose of this article is to demonstrate why many workers and employees in the hospitality industry are excluded from the legislative protection regarding individual rights as well as from the benefits derived from union representation.Item THE ROLE OF INNOVATIONS AND INVESTMENTS IN RURAL AREAS: THE CASE OF KOSOVO AND BULGARIA(Бургаски Свободен Университет, 2017) Shterev, Nikolay; Gjokaj, Ekrem; Halimi, Kapllan; Kopeva, DianaSustainable rural development is vital to the economic, social and environmental viability of each nation. Nowadays, rural areas are facing complex challenges and opportunities: agriculture is no longer the backbone of most rural economies; as the role of non-farm sectors (manufacturing, tourism and industry) is increasing. These new realities require for a new approach to innovations and investments in rural areas. The paper focuses on the role of investments and innovations in rural areas in Kosovo and Bulgaria, and their role for achieving sustainable rural development. The study aims to analyse and assess the implemented approaches of innovations and investments in rural areas in both countries.