Year 2013, Issue 3

Date published

3.9.2013

Table of content

  • RADKO RADKOV, Andrey Zahariev
    The Currency Board in Bulgaria: Theoretical Reflections and Empirical Results
    JEL: E42, E52, F33, F36
    Keywords: currency board, monetary system, Euro zone, currency exchange rate, economic analysis, gross domestic product, convergence.
    Summary: Via this article the authors would like to discuss the idea of the inter-section point of theoretical reflections and reported empirical results referring to the currency board in Bulgaria. To achieve the goal defined the article is... Via this article the authors would like to discuss the idea of the inter-section point of theoretical reflections and reported empirical results referring to the currency board in Bulgaria. To achieve the goal defined the article is structured in the following separate sections: first, clarification of the concept of a currency board in light of leading theoretical research; second, critical analysis and evaluation of the characteristics of the currency board in Bulgaria; third, justification of the authors’ answer regarding the end of the currency board in Bulgaria and its replacement with another system; fourth, econometric analysis and assessment of foreign trade sector influence on the GDP in Bulgaria under the conditions of a fixed currency exchange rate and a high percentage of foreign trade of goods and services in the structure of the GDP; fifth, a study of the currency boards influence on the economic convergence of Bulgaria in comparison with leading EU economies for the period 1998 – 2012. For the authors, Bulgaria’s path to membership in the Eurozone while keeping the currency board regime during the whole period of being in the ERM II “waiting room” is logical and has social and institutional support. The argument for this is that Estonia’s example of entering the Eurozone by preserving the currency rate at the level of the currency board is the reasonable and rational national project for developing Bulgaria’s economy and financial system.
  • BOYAN ILIEV
    Multiple Peril Risk Insurance of Agricultural Crops – a Myth or Reality
    JEL: G22, Q10
    Keywords: multiple peril risk insurance, agricultural crops, transforming the liability of insurance companies, risks and losses, insurance practice in the Republic of Bulgaria.
    Summary: The insurance of agricultural crops is a conservative type of insurance. It is quite rarely that radical organizational changes are introduced. Currently, however, conditions dictate the introduction ofthere are the necessary... The insurance of agricultural crops is a conservative type of insurance. It is quite rarely that radical organizational changes are introduced. Currently, however, conditions dictate the introduction ofthere are the necessary conditions such changes in the Republic of Bulgaria. Modern development of agricultural production is a prerequisite for changing the methodology of this type of insurance so as to adapt it to the demands of agricultural producers. This article develops the thesis that a similar change might be implemented by transforming the liability of insurance companies from a liability related to certain risks and losses to a liability referring to any risks and losses. In other words, it is possible to make the transition to the so-called multiple peril risk insurance. Multiple peril risk insurance is considered to be a novelty which has only recently been introduced in EU member-states with advanced economies. Therefore, it is the subject of large-scale discussions. The objective is to choose to introduce such an option that will best correspond to the specific features of the agricultural development and traditions in the Republic of Bulgaria and related insurance practice.
  • PETYA EMILOVA
    Cloud Computing Technology in Business Process Management
    JEL: D80
    Keywords: cloud computing, Business Process Management (BPM), Business Process Management as a Service (BPMaaS)
    Summary: To achieve competitive advantage today, organizations rely on new technologies, innovative management ideas and their successful symbiosis. Business Process Management is a management concept which has become a key instrument for... To achieve competitive advantage today, organizations rely on new technologies, innovative management ideas and their successful symbiosis. Business Process Management is a management concept which has become a key instrument for business transformation. Modern organisations apply this concept to model, automate and optimise their processes. Cloud computing technology offers a new opportunity for the successful and efficient develop-ment of BPM in organisations. This article studies the advantages of BMP positioning in the cloud and presents a distributed architecture of a BPM plat-form which is positioned in the cloud and divides the support of various ac-tivities and data between the cloud and the user.
  • SILVIYA KOSTOVA
    Audit procedures in the assessment of environmental costs
    JEL: M42
    Keywords: statutory auditors, independent financial audit, accuracy of financial statements, environmental costs.
    Summary: The article reviews the interdependence between changes in financial reporting and the scope of audit procedures conducted by statutory auditors. It studies the characteristics of the environmental aspects of the integrated... The article reviews the interdependence between changes in financial reporting and the scope of audit procedures conducted by statutory auditors. It studies the characteristics of the environmental aspects of the integrated fi-nancial framework and their impact on the accuracy of financial and non-fi-nancial information. Some of the challenges faced by statutory auditors have been outlined in response to the major measures adopted through the strategic document “Europe 2020”, as well as the expectations of audit opinion users via integrated reporting.
  • P. Dimitrova
    A methodology for a complex assessment of personnel competitiveness within a company
    JEL: C51, D21, J24
    Keywords: competitive power, complex evaluation, methods.
    Summary: In this scientific investigation a model is developed and applied for the comprehensive evaluation of the competitive power and competency of spe-cialists in a specific firm (enterprise, institution and so on). The different... In this scientific investigation a model is developed and applied for the comprehensive evaluation of the competitive power and competency of spe-cialists in a specific firm (enterprise, institution and so on). The different criteria used in this assessment and example contents of these criteria are noted. The evaluation is performed by utilizing 6 degrees. The indicators used in the study are assigned different values which depend on the importance of the results obtained from a specific specialist working in a specific area. The specialist’s competency is calculated using a complex assessment which simultaneously uses 138 indicators. There are possibilities for applying the methodology developed when evaluating the competitive power of products which are produced by compa-nies with different types of production and when evaluating this at both a re-gional and national level. The methodology can be computerized and can be applied by collecting the information, and the different criteria in these indi-cators constitutes the characteristics of the specialist, product, company, mu-nicipality, region and so on.