Year 2019, Issue 4
Date published28.10.2019
Table of content
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NIGOHOS KANARYAN
ENHANCING THE ADJUSTMENTS OF MARKET MULTIPLES FOR BETTER OPERATING EFFICIENCYSummary: The study focuses on one of the specific applications of the market approach. The market approach is a valuation method whereby the fair market value of the target company is determined by reviewing comparable companies with similar... The study focuses on one of the specific applications of the market approach. The market approach is a valuation method whereby the fair market value of the target company is determined by reviewing comparable companies with similar operational and financial characteristics. The International Valuation Standards (2017) require that a valuer should make adjustments to the selected market multiples. Kasarova, Pramatarska and Lazarova (2009) and Todorov (2015) propose a method for adjusting market multiples for country risk and efficiency when the market approach is applied to emerging markets. We enhance their adjustment approach by removing its inherent restrictions. -
Shteryo Nozharov
HYBRID THREATS AS AN EXOGENOUS ECONOMIC SHOCKSummary: The aim of this study is to contribute to the theory of exogenous economic shocks and their equivalents in an attempt to explain business cycle fluctuations, which still do not have a clear explanation. To this end the author has... The aim of this study is to contribute to the theory of exogenous economic shocks and their equivalents in an attempt to explain business cycle fluctuations, which still do not have a clear explanation. To this end the author has developed an econometric model based on a regression analysis. Another objective is to tackle the issue of hybrid threats, which have not yet been subjected to a cross-disciplinary research. These were reviewed in terms of their economic characteristics in order to complement research in the fields of defence and security. -
MILEN DINKOV
EMOTION MANAGEMENT IN THE WORKPLACESummary: Emotions are at the heart of our social life. They function as filters of perceptions that affect our conscious actions and even decision-making. The range of acceptable emotions varies with culture, gender, and age. In many areas... Emotions are at the heart of our social life. They function as filters of perceptions that affect our conscious actions and even decision-making. The range of acceptable emotions varies with culture, gender, and age. In many areas of life, inappropriate emotions cause trouble. Organizations therefore require and expect their employees to manage their emotions and refrain from negative emotional outbursts. This creates the need to investigate the opportunities how to regulate emotional behaviour as a means of controlling the negative effects of emotions in the workplace. -
Elka N. Syarova
CHANGES AND TRENDS IN THE EMPLOYMENT STATUS OF UNIVERSITY GRADUATES IN BULGARIA AND THE EUSummary: This research focuses on the ongoing changes and the new challenges faced by labor in the process of transition to a new type of economy. It is structured in two parts. The first part systematizes the main changes in the... This research focuses on the ongoing changes and the new challenges faced by labor in the process of transition to a new type of economy. It is structured in two parts. The first part systematizes the main changes in the characteristics and requirements to labor in the context of the formation of a new economy and the transition to a digital one. The second part makes an empirical analysis and draws up the specific aspects in the dynamics of the indicators of the employment status of university graduates in Bulgaria and the EU which are relevant to the latest changes in the increasing imple¬mentation of more complicated mental labor. By applying methods of fore¬casting, the author brings forward certain short-term trends in the fluctuations of the relative ratio of the employed persons with a university degree in Bulgaria and the EU. The research implements the methods of analysis and synthesis, the means and methods of empirical-descriptive, as well as the econometric analysis. -
Yassine-Mehros, Abdelaziz Elabjani
SMES PERFORMANCE: ANALYSIS OF THE INNOVATION ROLESummary: Today the business environment is characterized by the globalization of markets, rapid technical developments, the reduction of the life of products and activities, the benefits acquired traditionally are no longer assets on which... Today the business environment is characterized by the globalization of markets, rapid technical developments, the reduction of the life of products and activities, the benefits acquired traditionally are no longer assets on which companies can count for develop. Companies must look for new options to diversify their offerings and markets, which contributes to their growth and development and to finding relevant answers to the question of survival that may threaten its continuity. Our paper aims to clarify the determinants of the success of some companies, especially SMEs, by focusing on the links between innovation and the organizational performance of SMEs. So, the purpose of this paper is to explore and better understanding the effects of organizational innovations, process innovations, product innovations, and marketing innovations on the organizational performance of Moroccan SMEs, based on an empirical study covering 3 SMEs operating in three different sectors.