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  • Margarita Mihaylova
    THE IMPACT OF GLOBAL TRENDS AND COVID-19 ON INTERNATIONAL NEW VENTURES
    JEL: F18, F23, F60, M13
    Keywords: global business environment, international entrepreneurship, international new ventures, COVID-19
    Summary: The COVID-19 pandemic has accelerated existing trends in the global business environment thus changing the conditions for performing international entrepreneurial activity. Four such trends of a key role in international business are the digitalization and active use of communication technologies, the restructuring of global supply chains, the erosion of trust in international organizations, and finally yet importantly, the integrity of international business networks and knowledge transfer. The paper explores the impact of the acceleration of these trends on the creation and the success of international new ventures.
  • Hrabrin Bashev
    AN APPROACH TO UNDERSTANDING AND ASSESSING THE GOVERNANCE EFFICIENCY OF AGRICULTURAL ENTERPRISES
    JEL: D23, L22, M13, 017, Q13
    Keywords: governance, efficiency, farm, transaction costs
    Summary: This article incorporates the New Institutional Economy and proposes an approach for understanding and assessing the governance efficiency of farms. It corroborates that a farm is efficient if it manages all its transactions and activities in the most economical (equal or more efficient) way compared to any other organization. Moreover, farms must have a good potential to adapt to permanently changing market, institutional, technological and natural environments in order to have high (overall) governance efficiency. Nature of the problems in effective organization for the main farm transactions for securing needed factors of production and output realization is used as an indicator for farm’s comparative efficiency. The analysis of survey data found that the overall level of governance efficiency of Bulgarian farms is acceptable the efficiency of 60% of them is low. There are huge differences in the level of efficiency of farms of different legal form, size, specialization and location as well as in the share of farms with different levels of efficiency in each group. Keywords: governance, efficiency, farm, transaction costs.