Конференция, 2017, Кръговата икономика

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    IMPROVEMENT OF ADMINISTRATIVE SERVICE IN BULGARIA - MANAGEMENT STRATEGIES, MODELS AND PROBLEMS
    (Бургаски Свободен Университет, 2017) Yorgova, Yulia
    Improving 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.
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    HUMAN RESOURCE STRATEGY–HUMAN RESOURCE MANAGEMENT IMPORTANT PARTS OF MANAGEMENT STRATEGY AND BUSINESS SUCCESS
    (Бургаски Свободен Университет, 2017) Schwehn, Winfried
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    THE PLIGHT OF WORKERS IN THE HOSPITALITY INDUSTRY IN SOUTH AFRICA
    (Бургаски Свободен Университет, 2017) Vettori, Stella
    Most 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.
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    EXCHANGE RATE, INTEREST RATE AND STOCK MARKET: EVIDENCE FROM PAKISTAN STOCK EXCHANGE
    (Бургаски Свободен Университет, 2017) Quayyoum, Sobia; Simonetti, Biagio; Husnain, Muhammad
    The 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.
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    THE SYSTEM OF RESOLUTION/SETTLEMENT OF COMMERCIAL DISPUTES IN THE REPUBLIC OF BULGARIA AS A BUSINESS RISK FACTOR
    (Бургаски Свободен Университет, 2017) Chernev, Silvy
    The purpose of this paper is to establish the possible existence of business risk resulting from the legal regulation and other relevant factors to the resolution of commercial disputes in the Republic of Bulgaria. The effectiveness (the lack thereof) of the different commercial disputes resolution/settlement means are analyzed (state courts commercial litigation, arbitration, mediation and others). Historical and some comparative law references are made alongside. A conclusion that the legal regulation and the practical aspects of commercial litigation before the state courts hamper business and represent a serious risk factor. The situation in arbitration although once highly favorable has recently deteriorated. Other ADR have acquired no popularity but at a promotional level. Analysis of other factors also brings negative characteristics thus leading to the general conclusion that the state of the legal regulation and the practice in the resolution/settlement of commercial disputes in Bulgaria represents a serious risk before business.
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    SPATIAL PLANNING AND URBAN DEVELOPMENT IN PORTUGAL: INSTRUMENTS, PROBLEMS AND CHALLENGES
    (Бургаски Свободен Университет, 2017) Bailoa, Sandra
    Spatial 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.
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    STRATEGY FOR TECHNOLOGY VENTURES SELECTION
    (Бургаски Свободен Университет, 2017) Hyung, Kyungjin; Ruskov, Petko
    There 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.
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    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, Diana
    Sustainable 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.
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    SOLVENCY II - RISK ASSESSMENT AND ACCOUNTING
    (Бургаски Свободен Университет, 2017) Velinova-Sokolova, Nadya
    Solvency 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.
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    ROLE OF FINANCIAL EDUCATION ACTIVITIES TOWARDS INVESTMENT DECISIONS IN AN EMERGING COUNTRY OF PAKISTAN
    (Бургаски Свободен Университет, 2017) Husnain, Muhammad; Baltov, Milen; Quayyoum, Sobia
    Asset 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.