Strategic Responses to Global Uncertainty: Rethinking Markets, Governance and Innovation

Knowledge Management in the Age of Artificial Intelligence: New Paradigms for Entrepreneurship, Business, and Economics

Knowledge Management in the Age of Artificial Intelligence: New Paradigms for Entrepreneurship, Business, and Economics
(Knowledge Management in the Age of Artificial Intelligence: New Paradigms for Entrepreneurship, Business, and Economics)

Author(s):Nevzat Özel
Language:English
Subject(s):Economy, Business Economy / Management, ICT Information and Communications Technologies, Business Ethics, Green Transformation
Page Range:13-33
No. of Pages:21
Keywords:knowledge management; generative artificial intelligence; AI governance; entrepreneurial innovation; decision support systems; business model innovation; trustworthy AI
Summary/Abstract:Artificial intelligence is being addressed as a general-purpose technology that transforms opportunity recognition in entrepreneurship, business strategy, and macro-level dynamics of productivity and competitiveness. However, the economic value of artificial intelligence does not emerge automatically and cannot be explained solely by technical capacity; value creation is shaped by how organizations govern data, how they transform information into actionable organizational knowledge, and how they institutionalize mechanisms of learning, governance, and trust. This study integrates knowledge management theories with contemporary findings from the literature on generative artificial intelligence, human-artificial intelligence collaboration, and trustworthy artificial intelligence, and discusses how the role of artificial intelligence is being redefined across the processes of knowledge creation, storage and retrieval, sharing, and application. In addition, it demonstrates how generative artificial intelligence expands entrepreneurial capacity for exploration and experimentation by mainstreaming prompt-based knowledge work, and how it accelerates transformation through process automation, operational efficiency, and decision-support applications across functions. The study analyses how economic outcomes, such as productivity gains, the diffusion of innovation, and risks of inequality, are shaped through knowledge infrastructures and governance arrangements, and it proposes a knowledge management-driven strategic framework centered on knowledge audits, socio-technical workflow design, transparency and explainability, and continuous organizational learning. It ultimately argues that sustainable competitive advantage depends less on adopting artificial intelligence tools than on building artificial intelligence-ready knowledge ecosystems that coherently integrate technology, people, and institutions.

A Micro-Study on the Parameters of the Recent Activity of the Romanian SAI

A Micro-Study on the Parameters of the Recent Activity of the Romanian SAI
(A Micro-Study on the Parameters of the Recent Activity of the Romanian SAI)

Author(s):Ionel Bostan, Nicoleta Asalos
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Micro-Economics, ICT Information and Communications Technologies, Green Transformation
Page Range:35-44
No. of Pages:10
Keywords:SAI / Romanian Court of Accounts (RCA); public financial resources; damages and additional revenues; internal managerial control system; digitalization and administrative modernization
Summary/Abstract:Background and aim: This paper analyzes the recent activities of the Romanian Supreme Audit Institution (SAI), namely the Court of Accounts, in the context of Romania’s ongoing budgetary challenges and governance reforms. The study aims to evaluate both the quantitative dimensions—volume and typology of audit missions, damages, and additional revenues—and qualitative aspects such as the implementation of recommendations, performance auditing, and the impact on public policies. Scope: The research is limited to secondary data from official reports and legislation, which reflect the institutional perspective, without primary empirical investigations. Methods: The approach combines documentary and statistical analysis with qualitative assessments, complemented by international standards (INTOSAI/ISSAI) and comparative references. Results: The findings highlight significant progress in expanding audit missions and strengthening follow-up actions, but also reveal persistent deficiencies, including low recovery rates of identified damages, partial implementation of recommendations, and underutilization of performance auditing. Conclusions: The study concludes that the RCA remains a vital actor in safeguarding public resources, yet its effectiveness is constrained by structural deficiencies and slow digitalization. Originality: The paper contributes by offering a critical institutional analysis that links audit outcomes with governance quality, emphasizing the preventive and reform-oriented role of external audit. Practical implications: The results suggest that policy-makers should prioritize digitalization, strengthen follow-up mechanisms, and expand performance auditing to ensure that audit findings effectively support fiscal discipline, administrative modernization, and public trust.

Impact of Non-Technological Innovations on the Sustainable Development of European Small and Medium-Sized Enterprises in the Textile Industry

Impact of Non-Technological Innovations on the Sustainable Development of European Small and Medium-Sized Enterprises in the Textile Industry
(Impact of Non-Technological Innovations on the Sustainable Development of European Small and Medium-Sized Enterprises in the Textile Industry)

Author(s):Lubcho Varamezov, Simeonka Petrova
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Micro-Economics, ICT Information and Communications Technologies, Green Transformation
Page Range:216-227
No. of Pages:12
Keywords:non-technological innovations; SMEs in the textile industry; sustainable development
Summary/Abstract:Background and aim: Innovations, including non-technological ones, within European small and medium-sized enterprises (SMEs) significantly influence the level of sustainable economic development. The main objective of this article is to examine the impact of non-technological innovations on the sustainable development of the economic activities of SMEs in the Member States of the European Union during the period 2012 – 2022. Scope: The study focuses on SMEs operating in the textile industry within the Member States of the European Union. The selected explanatory variable is the indicator of innovations in marketing methods related to market promotion, pricing, packaging, product positioning, and after-sales customer service – while the outcome variable is the level of net turnover. Methods: In the data analysis, the method of linear regression and correlation is applied, utilising the capabilities of the IBM SPSS software package and Microsoft Excel. Results: The relationship between non-technological innovations and the sustainable development of the enterprises under study is analysed. Conclusions: Non-technological innovations exert a positive influence on the sustainable development of the economic activities of the examined enterprises. Originality: The paper highlights the contribution of non-technological innovations to the sustainable development of small and medium-sized enterprises. Practical implications: The selective conclusions formulated in the study are useful for managers promoting the transformation towards sustainable development of SMEs in the European textile industry through the implementation of non-technological innovations.

New Strategic Landmarks for Romania’s War Equipment and Materials Production Sector

New Strategic Landmarks for Romania’s War Equipment and Materials Production Sector
(New Strategic Landmarks for Romania’s War Equipment and Materials Production Sector)

Author(s):Ionel Bostan, Cristina Mihaela Lazăr
Language:English
Subject(s):Economy, National Economy, Micro-Economics, Green Transformation
Page Range:348-355
No. of Pages:8
Keywords:Romania; defense industry / war production; NATO; European Union; economic governance
Summary/Abstract:Background and aim: This paper analyzes Romania’s new strategic landmarks in the production of defense equipment and materials, against the backdrop of Russia’s war in Ukraine and Romania’s positioning on NATO’s Eastern flank. The study aims to highlight the dual character of war production, which functions both as a military necessity and as an economic and technological driver. Scope: The research is limited by its reliance on strategic documents and secondary literature, without direct empirical data from companies or stakeholders. Methods: The authors apply an interdisciplinary approach combining documentary analysis, comparative perspectives, and critical assessment of domestic industrial capacities, framed along economic, technological, and geopolitical dimensions. Results: The findings reveal significant vulnerabilities in Romania’s defense industry—such as outdated technologies, weak governance, and dependence on imports—while also identifying opportunities in NATO/EU funding, strategic partnerships, and emerging technologies. Conclusions: The paper argues that Romania’s ability to transform its defense industry into a competitive, resilient, and integrated sector depends on sustained investment, governance reforms, and international cooperation. Originality: The paper contributes to the literature by linking war production with economic governance and innovation, framing it as a tool of resilience and convergence with NATO/EU industrial chains. Practical implications: The study offers insights for policymakers, suggesting that Romania’s defense industry can evolve from vulnerability to strategic strength by aligning military necessity with economic modernization and collective security goals.

Pilot Study on the Social Dimension of Corporate Governance in Romanian Listed Companies

Pilot Study on the Social Dimension of Corporate Governance in Romanian Listed Companies
(Pilot Study on the Social Dimension of Corporate Governance in Romanian Listed Companies)

Author(s):Manuel-Victoraș STĂNILĂ, Constantin Marius Profiroiu, Edita-Carmen BOKOR
Language:English
Subject(s):Economy, National Economy, Supranational / Global Economy, Business Economy / Management
Page Range:389-402
No. of Pages:14
Keywords:ESG; CSRD; ESRS; Disability Inclusion; Social Dimension; Corporate Governance
Summary/Abstract:Background and aim: In Europe, Environmental, Social, and Governance (ESG) practices are shaped by the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) Act (Delegated Regulation (EU) 2023/2772), which require reporting on social issues and accessibility. This pilot study explores how Romanian listed companies address disability inclusion, workplace accessibility. Scope: The study is based on 14 responses from 146 issuers on the Bucharest Stock Exchange. Findings are exploratory only. Methods: A structured questionnaire was conducted in August 2025 and analyzed with descriptive statistics. Results: Some firms reported ESG policies and committees, but adoption is uneven. Accessibility measures are limited, and inclusion is often seen as reputational rather than strategic. Conclusions: Romanian companies are only beginning to align with EU social governance. Originality: Among the first studies on ESG and disability inclusion in Romania. Practical implications: Results can guide companies, policymakers, and investors toward stronger, more inclusive ESG strategies.

Competitive Landscape and Marketing Strategies in China's Imported Olive Oil Market: An Analysis Based on Packaging Information

Competitive Landscape and Marketing Strategies in China's Imported Olive Oil Market: An Analysis Based on Packaging Information
(Competitive Landscape and Marketing Strategies in China's Imported Olive Oil Market: An Analysis Based on Packaging Information)

Author(s):Xiaomeng Fang, Giulio Mario Cappelletti, Vladimir Zhechev
Language:English
Subject(s):Economy, Business Economy / Management, Micro-Economics, Marketing / Advertising, Green Transformation
Page Range:425-441
No. of Pages:17
Keywords:International olive oil trade Chinese market; International olive oil trade; Packaging information; Consumer education; Organic certification
Summary/Abstract:Since 2008, the Chinese market for imported olive oil has experienced steady growth in both consumption and imports, reaching a market value of over 5 billion RMB. Spain, Italy, and Greece are the main exporting countries, jointly accounting for more than 80% of Chinese imports. An analysis of 34 olive oil brands available in the Chinese market shows that while basic information (such as origin, production volume, and acidity level) is generally provided, more detailed elements are often missing. These include the specific olive varieties used, explicit health benefits, and consumer education content. Spanish brands dominate in terms of production volume and primarily target the mid-range market segment, whereas Italian brands position themselves in the premium segment, emphasizing tradition and health-related values. Domestic Chinese brands, on the other hand, compete mainly in terms of price and localization. Looking ahead, organic certification and consumer education on olive oil emerge as key areas with strong potential for future market development. This study aims to understand brand packaging information for olive oil brand suppliers. Provide packaging strategies for olive oil companies to enter the Chinese market.

On some Factors of Ordering Goods or Services over the Internet

On some Factors of Ordering Goods or Services over the Internet
(On some Factors of Ordering Goods or Services over the Internet)

Author(s):Michal Stojanov, Desislava Grozdeva
Language:English
Subject(s):Economy, Business Economy / Management, Marketing / Advertising, ICT Information and Communications Technologies, Transport / Logistics
Page Range:500-511
No. of Pages:12
Keywords:Internet; online purchases; information and communication technologies (ICT); experience economy
Summary/Abstract:The paper examines the problems of households’ access to the Internet and the frequency of its use as factors influencing the use of online channels for purchasing products. The study seeks confirmation of the direction and strength of the influence of the provision of a stable Internet service and the intensity of its use as drivers stimulating the development of e-commerce. The work uses secondary data from Eurostat with a coverage level of NUTS 2, which is the basis for conducting a correlation analysis and proving the research hypotheses about the moderate positive significance of Internet coverage and the strong positive influence of the frequency of use of the global network on ordering goods and services online. In the context of the evolution of wireless network technologies and uninterrupted consumer Internet connectivity, new horizons are revealed for retailers to improve the consumer experience and offer a high level of personalization.

Harnessing Learning Analytics and Artificial Intelligence for Student Success: Applications and Implications in Higher Education

Harnessing Learning Analytics and Artificial Intelligence for Student Success: Applications and Implications in Higher Education
(Harnessing Learning Analytics and Artificial Intelligence for Student Success: Applications and Implications in Higher Education)

Author(s):Bistra Vassileva
Language:English
Subject(s):Economy, Education, Higher Education , ICT Information and Communications Technologies
Page Range:581-592
No. of Pages:12
Keywords:learning analytics; higher education; personalised learning pathways
Summary/Abstract:Learning analytics (LA) has emerged as a powerful approach to enhance teaching, learning, and decision-making in HE by leveraging data-driven insights. This paper explores the applications of LA and artificial intelligence (AI) in HEIs, with a particular focus on its role in improving student engagement, predicting academic performance, and supporting personalised learning pathways. We review recent empirical studies to demonstrate how HEIs can integrate LA and AI into digital learning environments, course management systems, and institutional decision-making processes. Particular attention is given to the ethical dimensions of student data use, including privacy, consent, and algorithmic transparency. The paper concludes by outlining a framework for effective implementation of LA in HE, highlighting challenges such as faculty readiness, data interoperability, and institutional policy alignment. By advancing a holistic approach, LA can be positioned not only as a technological innovation but also as a strategic driver of student-centered, evidence-based education.

Marketing Strategy Adaptations for Businesses during Bulgaria’s Euro Adoption: Lessons from Croatia

Marketing Strategy Adaptations for Businesses during Bulgaria’s Euro Adoption: Lessons from Croatia
(Marketing Strategy Adaptations for Businesses during Bulgaria’s Euro Adoption: Lessons from Croatia)

Author(s):Inna Petrova
Language:English
Subject(s):Economy, Micro-Economics, Marketing / Advertising
Page Range:681-693
No. of Pages:13
Keywords:euro adoption; marketing strategy; Bulgaria; Croatia; dual pricing; communication design; pricing transparency; consumer trust
Summary/Abstract:This study examines the strategic marketing challenges facing Bulgarian businesses ahead of the country’s planned euro adoption in January 2026, using Croatia’s 2023 transition as a comparative case. Adopting a qualitative, theory-driven approach, it introduces a Strategic Marketing Framework for Euro Adoption (SMF-EA), which integrates communication design, pricing transparency, and consumer trust management. The analysis finds that Croatia’s success was driven not only by legal compliance but also by proactive, emotionally resonant campaigns that combined institutional leadership with business engagement. In contrast, Bulgaria’s preparations remain largely institutionally focused, with limited participatory outreach. The findings demonstrate that euro adoption is both an economic reform and a behavioural transformation, where marketing is critical for public acceptance. Practical recommendations are offered for businesses and policymakers, emphasizing early dual pricing, symbolic trust signals, and culturally adapted communication, supported by real-time consumer engagement and coordinated public–private action.

Empirical Validation of the Taste–Value–Risk (TVR) Model and Sectoral Extension of the Crisis Liquidity Ratio (CLR): A Dual Approach to Risk and Liquidity Assessment under Information Asymmetry

Empirical Validation of the Taste–Value–Risk (TVR) Model and Sectoral Extension of the Crisis Liquidity Ratio (CLR): A Dual Approach to Risk and Liquidity Assessment under Information Asymmetry
(Empirical Validation of the Taste–Value–Risk (TVR) Model and Sectoral Extension of the Crisis Liquidity Ratio (CLR): A Dual Approach to Risk and Liquidity Assessment under Information Asymmetry)

Author(s):Petar Petrov, Elka Petrova
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Public Finances, Accounting - Business Administration, ICT Information and Communications Technologies
Page Range:45-55
No. of Pages:11
Keywords:Liquidity; Crisis Liquidity Ratio (CLR); Taste–Value–Risk (TVR); information asymmetry; cognitive economics; credit analysis; corporate governance
Summary/Abstract:This paper develops an integrated framework for assessing risk and liquidity when information between firms and creditors is uneven. We bring together a conservative accounting indicator – the Crisis Liquidity Ratio (CLR) – and a cognitive model, Taste–Value–Risk (TVR). Quantitatively, we analyse 12 leading companies from the primary automotive market in Bulgaria (72 annual financial statements for 2018–2023) and compare CLR with the traditional Current Ratio (CR) and Quick Ratio (QR). The evidence shows that CLR behaves more steadily in crisis periods, because it removes receivables that are only liquid on paper and focuses on assets that can be converted into cash. Qualitatively, we report a psycholinguistic experiment with 312 respondents (Bulgarian- and English-speaking), which tests how people organise their perceptions of value and risk along a “sweet–bitter” axis. “Financial security” is consistently placed in the “sweet” and low-risk area, while “high interest rate” is perceived as “bitter” and highly risky; “short-term loans” and “credit cards” fall in between. Reading CLR and TVR together creates a dual filter – accounting and cognitive – that reduces both distortions in reported information and misunderstandings in communication, and offers a grounded toolkit for credit analysis, corporate governance and risk management.

Is Bulgaria Ready to Restrict Short-Haul Flights?

Is Bulgaria Ready to Restrict Short-Haul Flights?
(Is Bulgaria Ready to Restrict Short-Haul Flights?)

Author(s):Donka Zhelyazkova, Michal Stoyanov
Language:English
Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Business Ethics, Green Transformation
Page Range:228-239
No. of Pages:12
Keywords:Carbon footprint; domestic flights; rail transport; transport infrastructure
Summary/Abstract:The assessment of the implementation of certain measures aimed at reducing or eliminating environmental pollution caused by the transport sector must go through a comprehensive review of the state of the rolling stock, transport infrastructure, and a wide range of effects that can be caused by decisions to limit flights on conditionally short distances within a country. Currently in Bulgaria, the density and level of satisfaction of the population with the railway and road transport network give priority to their use over that of the air transport alternative. At the same time, the contribution of road transport to the formation of harmful emissions in the air is the most significant compared to all other transport alternatives.

Strategic Gaps in Emergency Call Management Research

Strategic Gaps in Emergency Call Management Research
(Strategic Gaps in Emergency Call Management Research)

Author(s):Edita-Carmen BOKOR, Alina Sava, Madlena Nen, Manuel-Victoraș STĂNILĂ
Language:English
Subject(s):Economy, Business Economy / Management, Micro-Economics
Page Range:320-332
No. of Pages:13
Keywords:emergency call systems; bibliometric analysis; accessibility gap; AI in public safety; governance; inclusion
Summary/Abstract:Background and aim: Emergency call systems (ECS) are vital to public safety infrastructure, enabling rapid communication between citizens and responders in crises. Yet, their academic study has rarely been examined through a long-term strategic lens. This paper provides the first comprehensive bibliometric mapping of global ECS research over 45 years (1981–2025), identifying trends, key contributors, and critical thematic gaps. Particular attention is paid to the absence of accessibility and inclusion—issues essential for equitable emergency communication.Scope: The analysis focuses on Scopus-indexed literature, excluding non-English and grey literature sources. Methods: A dataset of 490 publications was retrieved using a structured Boolean query. Bibliometric analysis was conducted with Biblioshiny, VOSviewer, and JASP to map annual scientific production, collaboration networks, thematic evolution, and co-citation structures. Results: Findings reveal rapid publication growth after 2000, driven by mobile telecommunications, GPS integration, and AI adoption. Despite technological advances, terms such as “accessibility,” “disability,” or “inclusion” are absent from indexed keywords, indicating a systemic research blind spot. Conclusions: ECS research has shifted from infrastructure-centric to human-centered themes but has yet to embed inclusivity as a strategic priority. Originality: This is the first longitudinal bibliometric study of ECS research to highlight accessibility as an overlooked dimension.Practical implications: Results offer a roadmap for aligning ECS innovation with governance frameworks and accessibility mandates, supporting more resilient and inclusive public safety systems.

The Impact of China’s Waste Import Ban and Basel Convention Amendments on Global Plastic Waste Trade: A Difference-in-Differences Approach

The Impact of China’s Waste Import Ban and Basel Convention Amendments on Global Plastic Waste Trade: A Difference-in-Differences Approach
(The Impact of China’s Waste Import Ban and Basel Convention Amendments on Global Plastic Waste Trade: A Difference-in-Differences Approach)

Author(s):Galina Zaharieva, Jingxin Hu
Language:English
Subject(s):Economy, National Economy, Supranational / Global Economy, Micro-Economics, ICT Information and Communications Technologies, Transport / Logistics
Page Range:403-416
No. of Pages:14
Keywords:global trade in plastic waste; China’s import ban; Basel Convention; difference in differences
Summary/Abstract:Global trade in plastic waste was reshaped by the 2018 import ban in China and Hong Kong and the 2021 Basel Convention amendments. This study compares their impacts on HS3915 cross-border flows and the geographic redistribution of exports within a common identification framework, and examines temporal dynamics and heterogeneity linked to enforcement capacity. Using bilateral export data for 2016–2023, we estimate treatment effects via PPML DID/DDD with year and country-pair fixed effects, complemented by event-study designs and pre-trend diagnostics. Exports to China/Hong Kong underwent a one-off yet persistent contraction in 2018, whereas the 2021 amendments exhibits only a limited incremental volume effect. Diverted flows were primarily reallocated to EU gateways and selected ASEAN hubs. The originality of this study lies in the hierarchical identification of the two regulations using PPML within a common econometric context and the counterfactual quantification of the redistribution patterns. Findings indicate that environmental regulation reshapes regional divisions of labor and supply-chain resilience through rule spillovers and trade diversion. Policy implications include harmonizing standards, coordinating enforcement, and jointly developing green recycling capacity within multilateral and regional frameworks to mitigate leakage.

Online Grocery Shopping in European Union Countries: Studying the Influence of Economic Factors

Online Grocery Shopping in European Union Countries: Studying the Influence of Economic Factors
(Online Grocery Shopping in European Union Countries: Studying the Influence of Economic Factors)

Author(s):Simeonka Petrova, Svetla Atanasova
Language:English
Subject(s):Economy, Business Economy / Management, Micro-Economics, Socio-Economic Research
Page Range:442-452
No. of Pages:11
Keywords:Online grocery shopping; European consumers; economic factors determining online shopping
Summary/Abstract:Background and Objective: Rising consumer expectations, digital advancements and the rise of e-commerce are evolutionary transforming and shaping grocery shopping in Europe. The main goal of this study is to examine the influence of economic factors on online grocery shopping by consumers in the European Union countries, focusing on the size of GDP per capita, and on this basis to draw the relevant conclusions and generalizations. Scope: The object of the study is individuals from the 27 Member States of the European Union who shop online for groceries. The collected and processed empirical data refer to the ten-year period 2014-2024. Methods: In methodological terms, the data analysis is based on the application of the linear regression and correlation method. For analytical purposes, the IBM software product is used SPSS and the program Excel. Results: The results obtained from the study present the strength of the relationship between online grocery purchases and the size of GDP per capita. The emerging similarities and differences in online grocery shopping behavior are identified. Conclusions: As an economic determinant, the GDP per capita is a significant factor influencing online purchases of European consumers. Originality: The contribution of economic factors to the development of online grocery shopping in a European context is shown. Practical implications: The formulated conclusions are useful for characterizing more significant economic factors determining the behavior of European consumers when shopping online for groceries.

Integrating Logic Programming with Large Language Models: Opportunities and Challenges

Integrating Logic Programming with Large Language Models: Opportunities and Challenges
(Integrating Logic Programming with Large Language Models: Opportunities and Challenges)

Author(s):Miglena Stoyanova
Language:English
Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, ICT Information and Communications Technologies, Transport / Logistics
Page Range:512-524
No. of Pages:13
Keywords:logic programming; large language models; neuro-symbolic AI; hybrid systems; explainable artificial intelligence
Summary/Abstract:This paper explores the integration of logic programming and large language models (LLMs) in the context of the emerging field of neuro-symbolic artificial intelligence (AI) to deliver explainable and verifiable reasoning. LLMs have powerful language understanding capabilities, but they often lack formal consistency and explainability. Logic-based systems, on the other hand, offer formal reasoning, but face challenges with scalability and the processing of unstructured input data. The integration of these approaches enables the development of hybrid AI systems that combine adaptability with formal verification and explainability. This study examines the main integration strategies, reviews key systems and analyzes their potential benefits in areas requiring trust and regulatory alignment. The main technical and conceptual challenges are discussed. The findings support neuro-symbolic integration as a promising direction for developing AI systems with higher levels of interpretability and reliability, applicable to business and decision support systems.

Legal Aspects of the Use of Artificial Intelligence in the Activities of University Professors

Legal Aspects of the Use of Artificial Intelligence in the Activities of University Professors
(Legal Aspects of the Use of Artificial Intelligence in the Activities of University Professors)

Author(s):Darina Dimitrova-Markovska
Language:English
Subject(s):Economy, Law, Constitution, Jurisprudence, Supranational / Global Economy, International Law, ICT Information and Communications Technologies, Commercial Law
Page Range:593-602
No. of Pages:10
Keywords:higher education; academic staff; artificial intelligence
Summary/Abstract:Artificial intelligence (AI) is entering more and more areas of personal and public life, including higher education, but the expansion of the capabilities of new technologies necessitates the introduction of legal regulation. The aim of this article is to explore some legal aspects of the use of AI in the activities of university professors. On the one hand, it examines the extent to which AI tools have been applied and explores the attitudes of the academic community regarding the eligibility for their use in teaching and research. On the other hand, trends and regulatory frame challenges related to the processes under consideration are identified. Outside the scope of this study is the question of what specific AI tools are eligible for use in teaching and research. Along with the traditional legal-dogmatic method of legal research, an empirical survey was used. This article presents the academic community's perspective on the impact of information technology in their professional activities, which has not been the subject of research before. The use of AI tools in the activities of university professors has the practical consequence of building an effective education-science-business relationship

Households’ Inflation Expectations: A Behavioural Lens for Measurement and Policy Communication

Households’ Inflation Expectations: A Behavioural Lens for Measurement and Policy Communication
(Households’ Inflation Expectations: A Behavioural Lens for Measurement and Policy Communication)

Author(s):Vanya Hristova
Language:English
Subject(s):Economy, National Economy, Micro-Economics, ICT Information and Communications Technologies
Page Range:694-702
No. of Pages:9
Keywords:inflation expectations; households; behavioural economics; expectations measurement; policy communication
Summary/Abstract:Households’ inflation expectations shape consumption, saving, wage setting, and the credibility of monetary policy. This report synthesizes evidence on expectation formation, reading the literature through a behavioural lens-information design, cognitive shortcuts, affect, and social context-alongside the rational-expectations benchmark. The analysis is conceptual and integrative; no econometric estimation is undertaken. Two operational domains follow. For measurement, the report reviews direct (surveys and survey-embedded experiments) and indirect (markets, behavioural traces, text, modelling) approaches, recommending light safeguards to limit framing, anchoring, and salience while preserving comparability. For policy communication, it proposes information design that prioritizes signal over noise: lead with a stable medium-term anchor, contextualize volatile components, disclose uncertainty ranges and base rates, use neutral tone and consistent sequencing, and evaluate releases as policy. The contribution is pragmatic: align conventional tools with documented behavioural regularities to improve interpretability, tighten anchoring of expectations, reduce overreaction to transitory shocks, and strengthen institutional credibility over time.

Engagement to Express Assurance by Registered Auditors on the Sustainability Report of Pension Funds

Engagement to Express Assurance by Registered Auditors on the Sustainability Report of Pension Funds
(Engagement to Express Assurance by Registered Auditors on the Sustainability Report of Pension Funds)

Author(s):Maia Natchkova
Language:English
Subject(s):Economy, Business Economy / Management, Financial Markets, ICT Information and Communications Technologies
Page Range:56-68
No. of Pages:13
Keywords:sustainability; certified expert accountants; registered auditors; pension funds; expression of assurance
Summary/Abstract:The expression of assurance by certified expert accountants, registered auditors on the Sustainability Report of pension funds increases the trustworthiness and reliability of sustainability reporting and disclosure by performing an independent financial audit of both financial and non-financial information related to the three components of sustainability. Transparent communication improves stakeholders’ understanding and trust in the presented sustainability information. Registered auditors must draft a conclusion on whether the information disclosed in the Sustainability Report of pension funds contains any material misstatements and whether the information disclosed in their statements is sufficient and relevant. Auditing the sustainability reports poses different challenges for registered auditors compared to those in the course of the audit of pension funds’ financial statements, as auditors primarily review “verbal” information rather than financial information – concrete data and values. Auditors must question and critically assess the reliability and accuracy of sustainability information.

Comparing Distance- and CO₂-Optimized Heuristics and Metaheuristics for the Multi-Depot Capacitated Vehicle Routing Problem in Agricultural Logistics

Comparing Distance- and CO₂-Optimized Heuristics and Metaheuristics for the Multi-Depot Capacitated Vehicle Routing Problem in Agricultural Logistics
(Comparing Distance- and CO₂-Optimized Heuristics and Metaheuristics for the Multi-Depot Capacitated Vehicle Routing Problem in Agricultural Logistics)

Author(s):Giacinto Angelo SGARRO, Domenico Santoro, Francesco COLASANTO, Luca Grilli, Carlo Russo, Giulio Mario Cappelletti, Marsia CUSENZA, Antonio Vairo
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Energy and Environmental Studies, ICT Information and Communications Technologies, Business Ethics, Green Transformation
Page Range:240-250
No. of Pages:11
Keywords:capacitated vehicle routing problem; agricultural logistics; metaheuristic; ant colony optimization; heuristic; life cycle assessment; carbon footprint
Summary/Abstract:In this study, we tested three algorithms to solve a real-world agricultural logistics problem based on real geographic data. The task involves optimizing the collection and delivery of agricultural containers across multiple depots, using a fleet of capacity-constrained trucks. Two optimization scenarios were investigated. In the first, edge weights represented distances between points in kilometers. In the second, they represented emissions of CO₂ equivalent per route, calculated using Life Cycle Assessment (LCA) according to the Global Warming Total (fossil + biogenic) impact category of the Product Environmental Footprint (PEF), following the IPCC methodology. Each algorithm — a greedy heuristic (Eu) and two Ant Colony Optimization (ACO)-based metaheuristics (Meta 1 and Meta 2) — was executed under both distance-based and CO₂-based scenarios. The heuristic, being deterministic, was run once per matrix, while each metaheuristic was executed ten times per scenario. Total distance and CO₂ emissions were computed for each solution, and results were compared through boxplots and summary tables. Although differences between the two optimization criteria were minimal, CO₂-based optimization slightly outperformed distance-based optimization, yielding marginally lower total distances and emissions. Both ACO-based metaheuristic algorithms consistently outperformed the greedy heuristic, confirming their superior robustness. These findings suggest that, in this context, optimizing routes for CO₂ emissions or distance leads to comparable results, indicating that ecological and efficiency objectives may align in real-world logistics scenarios.

Conflict Management in Veterinary Clinics – Strategic Implications

Conflict Management in Veterinary Clinics – Strategic Implications
(Conflict Management in Veterinary Clinics – Strategic Implications)

Author(s):Petya Angelova, Taher Saryia
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Micro-Economics, Green Transformation
Page Range:333-347
No. of Pages:15
Keywords:strategic management; conflicts; workplace conflicts; organizational conflicts; reasons for conflicts; types of conflicts; conflict management; veterinary clinics
Summary/Abstract:Workplace conflict is a common challenge in high-stress environments such as veterinary clinics, affecting staff morale, collaboration, and organizational performance. This study explores conflict sources and management strategies at United Veterinary Clinic (UVK)-Varna, a leading veterinary facility in Bulgaria. Using semi-structured interviews with 10 employees and thematic analysis, four main themes were identified: managerial inefficiencies, workload and organizational stress, interpersonal and team dynamics, and client-induced stress. Sub-themes included role ambiguity, inconsistent conflict interventions, communication gaps, and difficult client interactions, all of which exacerbate tensions and reduce operational efficiency. Based on these findings, a strategic conflict management framework is proposed, incorporating structured resolution protocols, comprehensive training, clear roles and responsibilities, improved communication, and stress management support. Preventive measures, such as performance reviews, employee assistance programs, positive reinforcement, and team-building activities, are also recommended to reduce future conflicts. The study provides practical insights for veterinary clinics and similar healthcare settings, highlighting the importance of tailored conflict management strategies in enhancing employee satisfaction, teamwork, and service quality.

Development of the Baltic States in the Eurozone: Selected Aspects

Development of the Baltic States in the Eurozone: Selected Aspects
(Development of the Baltic States in the Eurozone: Selected Aspects)

Author(s):Dobrin Dobrev
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Public Finances
Page Range:417-423
No. of Pages:7
Keywords:Eurozone; development; indicators
Summary/Abstract:The transformation of a national monetary system is of fundamental importance to any state. Participation in a monetary union entails a specific set of requirements, constraints, and opportunities. Countries acceding to the Eurozone (EZ) find themselves at varying stages of socio-economic development. This necessitates the management of specific requirements and challenges during pre-accession processes, as well as subsequent comprehensive integration into the system. Potential shortcomings at the national level may serve as a catalyst for socio-economic volatility in the short and medium term. The decision to join the EZ may be predicated on either economic or political justifications. The outcomes of such strategic decisions can be monitored in subsequent periods through fluctuations in key macro- and microeconomic indicators.The object of this publication is three nations that exhibited relatively similar levels of development upon their accession to the EZ. The subject of the study involves several core indicators. The primary objective is to examine the shifts and trends within these key metrics. The research methodology incorporates qualitative analysis and statistical methods, supplemented by comparative evaluations.

Theoretical Foundations and Evolution of Relationship Marketing

Theoretical Foundations and Evolution of Relationship Marketing
(Theoretical Foundations and Evolution of Relationship Marketing)

Author(s):Alexander Angelov, Hristina Mihaleva, Svetla Atanasova, Hristo Georgiev
Language:English
Subject(s):Economy, Business Economy / Management, Marketing / Advertising, Tourism
Page Range:453-459
No. of Pages:7
Keywords:relationship marketing; services; tourism; hotel animation; BVS Entertainment
Summary/Abstract:The article examines the theoretical foundations and the evolutionary development of relationship marketing as a contemporary and strategically significant marketing concept within the context of modern business environments. Particular attention is paid to the gradual transition from traditional product-oriented and sales-oriented marketing approaches toward customer-centered and relationship-oriented strategies, which emphasize long-term interaction, trust, and value creation. In this regard, the study highlights the importance of Total Quality Management as a managerial philosophy aimed at continuous improvement, as well as the role of integrated marketing communications in ensuring consistency and coherence in interactions with customers. Additionally, the SERVQUAL model is discussed as a key analytical framework for measuring service quality and identifying gaps between customer expectations and perceived performance.The empirical part of the research focuses on the practical application of relationship marketing in the activities of “BVS Entertainment” Ltd., a company specializing in hotel animation services within the tourism sector. Through the analysis of customer perceptions and organizational practices, the study explores how relationship-oriented strategies are implemented in a service environment characterized by high levels of personal interaction and emotional engagement. The findings demonstrate that the consistent application of relationship marketing principles leads to increased customer satisfaction, stronger emotional connections, and higher levels of trust between the company and its clients.The results further indicate that relationship marketing contributes significantly to enhanced customer loyalty, a higher likelihood of repeat visits, and the development of a positive corporate image. These outcomes support sustainable business growth by strengthening competitive positions and fostering long-term relationships with customers and partners. Overall, the study confirms that relationship marketing is not merely an operational tool but a comprehensive managerial approach that plays a crucial role in achieving sustainable development and long-term competitiveness in the tourism and service industries.

Artificial Intelligence from the Perspective of Legislation and Copyright in General, and in Business

Artificial Intelligence from the Perspective of Legislation and Copyright in General, and in Business
(Artificial Intelligence from the Perspective of Legislation and Copyright in General, and in Business)

Author(s):Pavlína Petrová
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, ICT Information and Communications Technologies
Page Range:525-531
No. of Pages:7
Keywords:artificial intelligence; copyright; legislation; business
Summary/Abstract:Artificial intelligence today represents a revolutionary technology. Given that technologies permeate all spheres of our lives, it is necessary to address the area of legislation and law related to artificial intelligence. This article deals with artificial intelligence in the context of copyright law at the level of human society and companies. The article also deals with the legal regulation of artificial intelligence from the perspective of European legislation and the legislation of various countries. The article aims to offer a comprehensive and up-to-date view of the issues related to artificial intelligence, emphasizing copyright issues and differences between individual legislative approaches, thus supporting further professional discussion and research in this area.

Reframing Careers: ECLD and the Service Turn in Personal Development

Reframing Careers: ECLD and the Service Turn in Personal Development
(Reframing Careers: ECLD and the Service Turn in Personal Development)

Author(s):Yuliyan Narlev
Language:English
Subject(s):Economy, Business Economy / Management, Human Resources in Economy, ICT Information and Communications Technologies, Green Transformation
Page Range:603-615
No. of Pages:13
Keywords:Entrepreneurial Career and Life Design (ECLD); service logic; career development; human resource development; intrapreneurship
Summary/Abstract:Background and aim: In the face of accelerating change in work and identity, traditional career development models centered on predefined roles and linear progression are no longer sufficient. This paper aims to introduce Entrepreneurial Career and Life Design (ECLD) as a transformative alternative and explore its advancement through the lens of Service Logic, reframing careers as dynamic, co-created journeys. Scope and limitations: The contribution is conceptual, drawing on a synthesis of literature from entrepreneurship education, life design, and human resource development, without empirical testing. Methods: The paper applies a conceptual methodology, integrating ECLD with Service Logic to build a generative theoretical framework and highlight keytransitions in career development. Results: The analysis identifies three central transitions enabled by this integration: (1) from role fulfillment to personal mission-building, (2) from prescribed upskilling to self-directed development, and (3) from static competencies to adaptive, purpose-driven capacities. Conclusions: ECLD functions not only as a pedagogical method but also as a strategic and ethical response to contemporary challenges, supporting both individual flourishing and organizational innovation in the age of complexity. Originality: By integrating entrepreneurial thinking and service logic, the study contributes a novel, human-cantered lens to human development and HRD theory. Practical implications: The chapter offers guiding principles and reflective tools for applying ECLD in coaching, education, and organizations, advocating for a rehumanization of career development.

ESG as a Tool for Sustainable Governance and Financial Stability in the Banking Sector

ESG as a Tool for Sustainable Governance and Financial Stability in the Banking Sector
(ESG as a Tool for Sustainable Governance and Financial Stability in the Banking Sector)

Author(s):Petar Kirov
Language:English
Subject(s):Economy, National Economy, Supranational / Global Economy, Business Economy / Management, Financial Markets, Public Finances
Page Range:703-707
No. of Pages:5
Keywords:ESG; environmental; social; governance; commercial banks; green deal; sustainable banking; risk management; corporate sustainability; financial stability; communication; Bulgaria
Summary/Abstract:This report examines the role and significance of ESG (Environmental, Social, Governance) factors in the operations of commercial banks in Bulgaria in the context of the European Union’s Green Deal and the increasing regulatory requirements. The main ESG components and their intersections with banking activities are analyzed, as well as their impact on financial stability, risk management, reputation, and trust in the banking sector.The report systematizes key principles of sustainable governance and stakeholder communication strategies, with a particular focus on practical steps for the effective integration of ESG into banking policies and processes. The conclusions indicate that sustainable ESG management is a dynamic and continuous process and represents an important prerequisite for the long-term stability and competitiveness of commercial banks.

Municipal Waste Management in the Post-Pandemic Period: Deficiencies and Risks Revealed by Public External Audit – A Focus on Constanța County (Romania)

Municipal Waste Management in the Post-Pandemic Period: Deficiencies and Risks Revealed by Public External Audit – A Focus on Constanța County (Romania)
(Municipal Waste Management in the Post-Pandemic Period: Deficiencies and Risks Revealed by Public External Audit – A Focus on Constanța County (Romania))

Author(s):Cristina Mihaela Lazăr, Nicoleta Asalos, Ionel Bostan
Language:English
Subject(s):Economy, Business Economy / Management, Energy and Environmental Studies, ICT Information and Communications Technologies, Transport / Logistics, Green Transformation
Page Range:69-81
No. of Pages:13
Keywords:municipal waste management; external public audit; Constanța county (Romania); environmental compliance; EU infringement risk
Summary/Abstract:Background and aim: The article investigates the systemic deficiencies and risks in Romania’s municipal waste management system during the post-pandemic period, focusing on the role of external public audit missions conducted by the Romanian Court of Accounts. The main objective is to assess the risk of infringement procedures against Romania due to persistent non-compliance with EU environmental directives. Scope and limitations: The research concentrates on the period 2015–2021, with particular emphasis on the case of Constanța County, and is limited to the analysis of official audit reports and regulatory frameworks. Methods: The study employs a qualitative methodology based on document analysis, comparative evaluation of legal frameworks, and synthesis of audit findings, with emphasis on compliance, infrastructure, and institutional performance. Results: Findings highlight significant shortcomings: delayed closure of non-compliant landfills, insufficient implementation of selective collection and recycling, lack of a functional electronic traceability system, and weak monitoring by central and local authorities. Constanța County illustrates critical infrastructural and contractual deficiencies that compromise EU compliance targets. Conclusions: Romania remains at high risk of EU sanctions due to poor waste management performance, limited strategic coordination, and underuse of European funding. Originality: The article provides an integrated perspective by linking external audit findings to broader systemic vulnerabilities in the post-pandemic context. Practical implications: The study offers actionable recommendations for improving compliance, strengthening administrative capacity, and ensuring alignment with EU circular economy goals, thus supporting policymakers and practitioners in sustainable waste governance.

From Plants to Packaging: The Role of Natural Waxes in Sustainable Food Preservation

From Plants to Packaging: The Role of Natural Waxes in Sustainable Food Preservation
(From Plants to Packaging: The Role of Natural Waxes in Sustainable Food Preservation)

Author(s):Nadezhda CHRISTOSKOVA, Mina Todorova, Stoyanka Nikolova, Sabka Pashova
Language:English
Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Agriculture, ICT Information and Communications Technologies
Page Range:251-262
No. of Pages:12
Keywords:food preservation; plant-based wax; biodegradable packaging; edible films
Summary/Abstract:Background and aim: Food safety is a key priority of the food industry. Increased food waste and the spread of foodborne illnesses can result from contamination of food products due to incorrect handling, packing, and storage. Customers frequently have an unfavorable opinion of the usage of synthetic compounds as additives or as substances that form films. Consequently, there is interest in developing alternative kinds of food packaging materials that are more environmentally and consumer-friendly. This study aimed to conduct a literature review and update previous overviews of the recently reported edible films, summarizing their applications. Methods: Major electronic medical databases—PubMed, Scopus, Science Direct, Web of Science, and Google Scholar—were systematically searched for publications to 2025. Results: A total of 127 studies met our inclusion criteria, combining search words “edible coating” and “natural wax-based coating”. Conclusions: Natural wax-based coatings have shown great potential in preserving the quality of fruit and can be effectively applied to reduce postharvest losses across the supply chain. These coatings can help maintain the fruit’s overall quality, thereby extending shelf life and enhancing marketability.

Theoretical-Practical Study of the Commercial Preferences of the Bulgarian Consumer Regarding Organic Food

Theoretical-Practical Study of the Commercial Preferences of the Bulgarian Consumer Regarding Organic Food
(Theoretical-Practical Study of the Commercial Preferences of the Bulgarian Consumer Regarding Organic Food)

Author(s):Svetla Atanasova, Hristina Mihaleva, Hristo Georgiev
Language:English
Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Agriculture, Marketing / Advertising, Green Transformation
Page Range:348-355
No. of Pages:8
Keywords:European strategy "Action Plan for Organic Agriculture"; consumer, trade preferences; organic food
Summary/Abstract:The strategy "Action Plan in the field of organic farming" developed by the European Union is the basis of the current research interest. Within the framework of the present theoretical-practical study, emphasis is placed on the statement that innovations in the field of organic agriculture change the commercial preferences of the Bulgarian consumer. Within the limits of the problems presented in this way, it can be emphasized that the main goal of the present work is connected with the construction of a theoretical framework for the specifics of the strategy "Action Plan in the field of organic agriculture" developed by the European Union and on the thus built pedestal to carry out a practical study of the data obtained through a survey conducted on the commercial preferences of the Bulgarian consumer regarding organic foods. The wide scope of the topic related to organic food requires the imposition of the following limitations of the present study: study of the strategy of the European Commission "Action Plan in the field of organic agriculture"; study of the commercial preferences of the Bulgarian consumer regarding organic foods. This brings to the fore the need for direct surveying, interviewing and observation of survey participants, followed by comparative and structural analysis. The conducted research shows that Bulgarian consumers recognize the advantages of organic foods, but their price becomes the main barrier to the development of the market of this type of products in Bulgaria.

7 Plus 7: New Dimensions in Value Communication and Creation Process. Expanding the Marketing Mix in the Banking Industry

7 Plus 7: New Dimensions in Value Communication and Creation Process. Expanding the Marketing Mix in the Banking Industry
(7 Plus 7: New Dimensions in Value Communication and Creation Process. Expanding the Marketing Mix in the Banking Industry)

Author(s):Mariya Dinova, Peter Kirov
Language:English
Subject(s):Economy, Business Economy / Management, Marketing / Advertising, ICT Information and Communications Technologies
Page Range:460-470
No. of Pages:11
Keywords:marketing mix; communication; value; banking industry
Summary/Abstract:In the context of the contemporary market challenges there is a strong need of reconsidering the Value creation and communication process. In order to keep customers satisfied and establish a long-lasting and reliable relationship with them companies need to add additional Value to the classical marketing offering. In a highly competitive industry like the banking one this need is even more evident. Acknowledging thе importance of the traditional marketing mix elements for the service industry, the authors of the report suggest theoretically and empirically grounded extension of the marketing mix by adding seven additional elements. Prediction, Personalization, Perception, Partnership, Proximity, Presence and Participation are proposed to be the new dimensions in Value Creation and Communication Process, particularly in the Banking Industry.

Preparing Students for the Workplace: Case Studies of AI Integration in Higher Education

Preparing Students for the Workplace: Case Studies of AI Integration in Higher Education
(Preparing Students for the Workplace: Case Studies of AI Integration in Higher Education)

Author(s):Ina Stanoeva
Language:English
Subject(s):Social Sciences, Education, Higher Education , Educational Psychology, Distance learning / e-learning
Page Range:532-545
No. of Pages:14
Keywords:artificial intelligence in higher education; AI-acknowledged learning; workplace readiness; student employability skills; activity-based learning
Summary/Abstract:Background and aim: Artificial intelligence (AI) is changing the skills required in the modern workplace, creating pressure on higher education to integrate AI in ways that prepare graduates for professional demands. This paper examines how AI can be purposefully used in higher education through case studies of three modules taught at Varna University of Management Scope: The study is limited to three modules—Marketing Communications, Research Methods, and Industry Project Management—and reflects practices within one institution. Methods: A case study approach based on student projects, is applied. Student assessment and lecturer observations of how AI was used for video production, research error detection, and project structuring were also used. Results: The findings show that AI-supported tasks increased creativity, problem-solving, and critical thinking while they raised challenges of overreliance, ethical concerns, and diffeent levels of student engagement. Conclusions: The purposeful and policy-informed integration of AI supports the development of transferable workplace skills and aligns academic practice with labor market needs. Originality: The paper contributes by applying an institutional policy framework to cross-disciplinary classroom practice and offers comparative insights across modules. Practical implications: The results suggest that structured AI integration can increase skills needed for employability and could guide universities in shaping policies that balance innovation with academic integrity.

From Economic Knowledge to Civic Responsibility: Rethinking Economic Education in the 21st Century

From Economic Knowledge to Civic Responsibility: Rethinking Economic Education in the 21st Century
(From Economic Knowledge to Civic Responsibility: Rethinking Economic Education in the 21st Century)

Author(s):Rumyana Zlateva
Language:English
Subject(s):Social Sciences, Education, Higher Education , Educational Psychology, State/Government and Education
Page Range:616-627
No. of Pages:12
Keywords:economic education; active learning; civic competence; social competence; citizenship education
Summary/Abstract:Dynamic socio-economic transformations require a rethinking of traditional economic education to meet the demands of the 21st century. The paper conceptualizes economic education not only as the acquisition of knowledge and skills, but also as a driver of social competence and civic responsibility. The aim is to outline possible paths for reforming economic education by responding to a recognized need to affirm economic education as a field of civic emancipation, social justice and a sustainable future. By reviewing contemporary theoretical perspectives and educational practices that integrate civic and social dimensions, the study identifies key challenges and opportunities for innovation. A qualitative methodology is used, with an interpretive focus, in order to reveal dependencies and conceptual connections between economic education, civic responsibility and social engagement. The results show that the key factor for the success of educational innovations is based on support with three dimensions: substantive, methodological and institutional. The findings point to the need for a systemic change in economic education, oriented towards preparing future economists as responsible citizens capable of dealing with complex societal and economic challenges. The study shows that economic education needs to be reinterpreted as a platform for social learning – a space in which learners do not simply understand how the economy works, but also learn to question it, connect it with values and understand its impact on people and the environment. The practical implications of the development relate to enriching the scientific discussion on the topic, as well as providing practical benefit to experts in the field of education, teachers, educational institutions and organizations engaged in the formation of sustainable educational policies.

Resistance to Imposed Organizational Change: Diagnosis, Appearances, and Management Approaches for Its Mitigation

Resistance to Imposed Organizational Change: Diagnosis, Appearances, and Management Approaches for Its Mitigation
(Resistance to Imposed Organizational Change: Diagnosis, Appearances, and Management Approaches for Its Mitigation)

Author(s):Emiliya Kirecheva
Language:English
Subject(s):Economy, Business Economy / Management, Human Resources in Economy, Socio-Economic Research
Page Range:708-721
No. of Pages:14
Keywords:organizational change; acceptance of organizational change; resistance to change; sources of resistance; types of resistance; limiting resistance
Summary/Abstract:Changes in organizations often generate ambivalent reactions in employees and significantly affect work motivation and engagement, especially when imposed unilaterally. The paper aims to highlight the main manifestations of hidden resistance and how it affects labour efficiency and loyalty attitude. The research focuses on the difference between obvious and hidden forms of resistance when analysing the dual dynamics of acceptance and resistance. The objective is to identify the main forms and dominant patterns of change-resistance attitudes among the workforce to provide basic recommendations for company leadership. Resistance to change needs to be recognized not as an obstacle to be eliminated, but as a diagnostic indicator to be constantly monitored. The findings suggest that resistance can be anticipated, measured, and effectively managed if recognized on time.

Self-Discrimination among Women in the CEECs

Self-Discrimination among Women in the CEECs
(Self-Discrimination among Women in the CEECs)

Author(s):Baha KALINOWSKA-SUFINOWICZ
Language:English
Subject(s):Economy, Business Economy / Management, Micro-Economics, Human Resources in Economy
Page Range:82-96
No. of Pages:15
Keywords:self-discrimination; women; labour market
Summary/Abstract:Background and aim: The main purpose of the paper is to consider the phenomena of personal and group self-discrimination among women in the context of professional advancement. Scope: The spatial scope includes countries of Central and Easter Europe, namely, Czechia, Hungary, Poland, Slovakia, and Slovenia. The time frame covers the years 2004-2024. Methods: A literature review and critique, methods of descriptive statistics are used to assess the mechanism of appearance of self-discrimination. Conclusions: The analysis reveals that the female participation among managers is lower than among men despite the higher education indicators in the CEECs in 2004-2024. Personal and group self-discrimination stem from invisible powers (glass phenomena) appearing in organisations. Their mechanism is based on stereotypical thinking about the roles of gender in society, which weaken women' (a glass ceiling) and concurrently strengthen men’ (a glass escalator) opportunities of getting managerial positions. Originality: The issue of self-discrimination of women has not been described in the literature and is an innovative approach on the economics from a gender perspective. Practical implications: A thorough examination of the phenomena of personal and group self-discrimination against women requires a shift in survey questions towards inclusivity and non-discrimination.

Development of Innovation in Bulgarian Enterprises through European Funding

Development of Innovation in Bulgarian Enterprises through European Funding
(Development of Innovation in Bulgarian Enterprises through European Funding)

Author(s):Plamen Pavlov, Vladi Kurshumov
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Public Finances, Human Resources in Economy, ICT Information and Communications Technologies, Green Transformation
Page Range:263-275
No. of Pages:13
Keywords:Innovation; European funding; innovation policies; business development
Summary/Abstract:Innovation is of critical importance for the development of business organizations and for maintaining a high level of competitiveness. Therefore, managers are looking for opportunities to support the innovation activity of enterprises, including the development of new products and technological solutions and their integration into business. The aim of this paper is to explore the possibilities for financing the development of innovations in enterprises with a focus on European funds. The research reveals the main priorities in European and national policies for stimulating innovations, as well as trends in the absorption of European funds by Bulgarian enterprises.

Managing Organizational Commitment of Gen Z in Bulgaria’s Fast Fashion Industry during Times of Global Uncertainty

Managing Organizational Commitment of Gen Z in Bulgaria’s Fast Fashion Industry during Times of Global Uncertainty
(Managing Organizational Commitment of Gen Z in Bulgaria’s Fast Fashion Industry during Times of Global Uncertainty)

Author(s):Daniel Vasilev
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Micro-Economics, Marketing / Advertising
Page Range:356-366
No. of Pages:11
Keywords:Gen Z; Millennials; Organizational commitment; Uncertainty; COVID-19
Summary/Abstract:Gen Z representatives are gradually entering the labor market. One of the characteristics of the environment in which they work is that there are conditions of global uncertainty. The purpose of this study is to analyze the patterns of organizational commitment in the conditions of global uncertainty. The dynamics of organizational commitment (affective, continuance and normative) of Gen Z and Millennial representatives were studied for the period before COVID-19, during lockdown and after loosening the safety measures in leading fast fashion retail companies in Bulgaria. The results show that companies can directly influence affective and normative organizational commitment; as for rational - it increases during uncertainty and decreases in times of good predictability.

Marketing the Home Aesthetic: Vibe Communication Across Short-Form Platforms

Marketing the Home Aesthetic: Vibe Communication Across Short-Form Platforms
(Marketing the Home Aesthetic: Vibe Communication Across Short-Form Platforms)

Author(s):Plamena Palamarova-Kostova
Language:English
Subject(s):Economy, Business Economy / Management, Marketing / Advertising, ICT Information and Communications Technologies
Page Range:471-484
No. of Pages:14
Keywords:short-form video; digital branding; home & living industry; consumer engagement; aesthetic marketing; vibe communication
Summary/Abstract:Short-form video has become central to digital branding, particularly in lifestyle and interior-focused industries, where aesthetic presentation shapes consumer choice and engagement. This paper examines how Home & Living brands communicate the “home aesthetic” and convey brand vibe across TikTok and Instagram, comparing the strategies of global players with local competitors. A systematic content analysis of short-form videos explores content type, aesthetic positioning, and engagement metrics. Results show that global brands more often integrate storytelling and lifestyle contexts, while local brands rely on functional, product-centered approaches. The findings highlight how platform culture influences content strategies and reveal key competitive differences between global and local brands. The study’s originality lies in its cross-platform and international-local comparison within the Home & Living sector and its focus on vibe-driven communication as an emerging form of digital brand expression, offering guidance for local brands to strengthen their online presence.

Raising the Digital Child: Ethics, Consciousness, and the Future of AI

Raising the Digital Child: Ethics, Consciousness, and the Future of AI
(Raising the Digital Child: Ethics, Consciousness, and the Future of AI)

Author(s):Valentin Monchev
Language:English
Subject(s):Education, Psychology, Preschool education, School education, Pedagogy
Page Range:546-553
No. of Pages:8
Keywords:artificial intelligence; generative AI; ethics, diversity; consciousness; human identity; technological futures; ethical stewardship
Summary/Abstract:Artificial Intelligence has progressed from theoretical speculation to a transformative force shaping contemporary society. Generative AI, while offering unprecedented opportunities for innovation, also raises complex ethical and philosophical challenges. This paper provides a concise overview of the technical foundations of generative models, including training processes, the phenomenon of hallucination, and the iterative methods that drive their refinement. Against this backdrop, the ethical implications are examined, with particular attention to diversity and inclusion in training data, the question of whether AI should replicate human identity or remain a distinct entity, and the broader responsibilities of developers as custodians of AI’s growth. Drawing on Arthur C. Clarke’s notion that advanced technology may appear as “magic,” the discussion extends toward speculative futures where consciousness might be transferred into computational systems, raising questions of identity and human continuity. Ethical stewardship, it is argued, will determine whether AI matures as a partner in progress or a destabilizing force.

Attitudes towards Using Generative AI Tools in Communication Training

Attitudes towards Using Generative AI Tools in Communication Training
(Attitudes towards Using Generative AI Tools in Communication Training)

Author(s):Svilen Venkov Ivanov
Language:English
Subject(s):Social Sciences, Education, Higher Education , Educational Psychology, Distance learning / e-learning
Page Range:628-641
No. of Pages:14
Keywords:Gen AI tools; marketing education; attitudes towards Gen AI; ethical framework
Summary/Abstract:Background and aim: Open access to generative AI tools is fundamentally changing marketing practice and, as a result, the main tasks and goals of marketing education. In this regard, the purpose of the study is to investigate the attitude of learners towards the use of generative AI in general and in particular in the process of their education. Methods: Based on a literature review and focus groups, variables were formulated for collecting quantitative data to investigate the attitude of learners towards the use of gen AI tools in training. Data were collected from 90 respondents - students in the bachelor's programs in marketing and digital media, and PR at the University of Economics - Varna - through an online survey. Factor analysis, univariate and bivariate distributions, and non-parametric tests for testing hypotheses were used in the analysis of empirical data. Results: The results of the analyses show that the general attitude of students towards the use of AI tools in their education is moderately positive, but this attitude is strongly moderated by control beliefs (ease of use) and not so much by behavioral beliefs (expected benefits). Conclusions: The study conducted shows the need to include the ethical context in the use of AI tools in communication training as part of the curriculum. Originality: The novelty of the paper lies in arguing for the need to study the attitudes of marketing and communications students towards the use of AI tools in their training, with a focus on the ethical context. Practical implications: The results of the study can be used in designing future research on learners' attitudes towards gen AI tools and, more generally, in adapting the ethical framework for their use.

Integrating Quality Management Indicators into Market Sustainability: A Case Study of Ceramic Tiles

Integrating Quality Management Indicators into Market Sustainability: A Case Study of Ceramic Tiles
(Integrating Quality Management Indicators into Market Sustainability: A Case Study of Ceramic Tiles)

Author(s):Victoria Vlaikova
Language:English
Subject(s):Economy, Business Economy / Management, Micro-Economics, Marketing / Advertising, ICT Information and Communications Technologies
Page Range:722-732
No. of Pages:11
Keywords:market sustainability; composite index; quality management; ceramic tile industry; performance indicators
Summary/Abstract:Background and aim: Market sustainability is gaining importance even in traditionally stable industries such as the ceramic tile sector, where product renewal cycles are accelerating due to design trends, technological innovation, and evolving customer expectations. Although ceramic tiles generally exhibit longer life cycles than most consumer goods, increasing market saturation and competition require continuous innovation and quality improvement. This study aims to develop and test a methodological framework for assessing the market sustainability of ceramic tiles from the perspective of quality management. Scope: The research in progress is based on internal company data from two of the largest ceramic tile factories in Bulgaria, covering the period 2019–2025. It focuses on product clusters derived from EN 14411:2016 groups, further differentiated by size categories. Social and ecological dimensions are not included at this stage. Methods: A Market Sustainability Index (MSI) is constructed using eight indicators—Complaints, First Quality, Technical Parameters, Customer Satisfaction, Compliance with Standards, Production Frequency, Product Variation, and New Model Development Requests. Data normalization, statistical methods, and validation criteria such as life cycle length, sales dynamics, and geographic reach are applied. Results: Preliminary findings indicate the index differentiates product groups, identifies weaknesses, and highlights stable, long-life models. Conclusions: Market sustainability can be operationalized through measurable quality and performance indicators.Originality: The novelty lies in integrating quality management indicators into a Market Sustainability Index (MSI), bridging operational control and strategic market analysis. Practical implications: The index provides managers with a diagnostic tool for portfolio optimization, product improvement, and informed strategic decisions.

Problems and Challenges Associated with the Instruction and Assessment of Student Competencies in the Theory of Control Course in a Distance Learning Environment

Problems and Challenges Associated with the Instruction and Assessment of Student Competencies in the Theory of Control Course in a Distance Learning Environment
(Problems and Challenges Associated with the Instruction and Assessment of Student Competencies in the Theory of Control Course in a Distance Learning Environment)

Author(s):Svetlozar Stefanov
Language:English
Subject(s):Social Sciences, Economy, Education, Higher Education , Accounting - Business Administration, Business Ethics
Page Range:97-103
No. of Pages:7
Keywords:distance learning; theory of control; education, training; assessment
Summary/Abstract:This report seeks to examine several fundamental challenges encountered in the distance learning of students in academic disciplines related to accounting and control. It argues that recent political and social transformations in the economy and society have elevated education to a crucial role in facilitating the successful integration of young people into the labour market. The report identifies the primary users of this educational service.Appropriate attention is given to the effectiveness of distance learning and its role within the broader educational system, particularly in terms of opportunities for the education and training of the individual. While distance learning has a place in the educational system, it is argued that it is more closely associated with training than with comprehensive education. Foundational, broad-based training in a given field should be acquired through students' physical presence at the university, as it is precisely this immersion in the academic environment that fosters the intellectual growth of young people. Building on this foundation, individuals can further develop their knowledge and skills in specific subject areas by participating in short-term courses, which are more focused, targeted toward the acquisition of particular competencies, and practically oriented.

Optimizing the Digital Landscape: Research and Applications in SEO and Social Media with keyword planning

Optimizing the Digital Landscape: Research and Applications in SEO and Social Media with keyword planning
(Optimizing the Digital Landscape: Research and Applications in SEO and Social Media with keyword planning)

Author(s):Liliya Mileva
Language:English
Subject(s):Economy, Marketing / Advertising, ICT Information and Communications Technologies
Page Range:276-284
No. of Pages:9
Keywords:SEO; keywords; optimization; keywords application; SEO application
Summary/Abstract:This paper aims to clarify the relationship between keyword definitio.

Quantitative Appraisal of Employee Performance through an Output-Oriented DEA Model

Quantitative Appraisal of Employee Performance through an Output-Oriented DEA Model
(Quantitative Appraisal of Employee Performance through an Output-Oriented DEA Model)

Author(s):Yordan Petkov
Language:English
Subject(s):Economy, Business Economy / Management, Human Resources in Economy, Socio-Economic Research
Page Range:367-379
No. of Pages:13
Keywords:Quantitative methods; Human resources; Data Envelopment Analysis; Appraisal
Summary/Abstract:Employee appraisal can be defined as a procedure for identifying the degree of compliance of their personal qualities, the quantitative and qualitative results of their activities, i.e. their work performance, with certain requirements. It aims to answer two main questions - to what extent the employee performs the assigned work, function or position and what is the degree of compliance between the professional abilities of the employee and the requirements of the job. An objective answer to the first question can be provided by approaches for quantitative performance assessment, such as Data Envelopment Analysis (DEA). Therefore, this report examines the possibilities of the so-called output-oriented DEA model for analyzing the comparative effectiveness of employees in the organization. The presented theoretical statements are demonstrated with a real-data numerical example.

In the Realm of Artificial Intelligence (AI): The Impact of AI on Brand Management in a Digital Era

In the Realm of Artificial Intelligence (AI): The Impact of AI on Brand Management in a Digital Era
(In the Realm of Artificial Intelligence (AI): The Impact of AI on Brand Management in a Digital Era)

Author(s):Steliana Vasileva
Language:English
Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Marketing / Advertising, ICT Information and Communications Technologies
Page Range:485-498
No. of Pages:14
Keywords:Artificial Intelligence (AI); Brand Management; Customer-Brand Engagement; Brand (Strategies); Personalization
Summary/Abstract:In the current digital environment, AI serves as a central force driving innovation across various sectors, including brand management. The selection of the topic for the paper is based on its relevance and the opportunity to examine different aspects of AI in the context of branding. In relation to the abovementioned, the current paper seeks to emphasize its importance in branding. The purpose of the paper is to explore the intersection of AI and branding by conducting a case study analysis, highlighting the ways in which leading brands, such as Netflix and Starbucks, utilize AI technologies in digital brand management to boost consumer engagement, and establish stronger connections with their customers thus securing a leading position in the market. The results of the study highlight the importance of AI in influencing the future of brand management, providing essential insights for marketers and companies aiming to leverage the complete capabilities of AI. Nevertheless, using AI in business introduces significant concerns related to privacy, transparency, and social responsibility, which are essential for sustaining consumer trust.

Genesis and Development of the Internet of Things

Genesis and Development of the Internet of Things
(Genesis and Development of the Internet of Things)

Author(s):Lyuben Kirev
Language:English
Subject(s):Economy, Business Economy / Management, ICT Information and Communications Technologies, Business Ethics, Green Transformation
Page Range:554-568
No. of Pages:15
Keywords:Internet of Things; computer; internet; hype cycle; smart home; IoT systems in agriculture; 5G; M2M; Industry 4.0
Summary/Abstract:The article is dedicated to the genesis and development of the Internet of Things (IoT). Structurally, it consists of three parts. The first is introductory and reveals the primary foundations for the origin of IoT, such as the invention of the computer, the discovery of the transistor and the Internet as a global system of interconnected networks, the more significant discoveries before its "birth". In chronological order, the second part traces the expansion and development of the Internet of Things, highlighting the main milestones of its evolution from 2000 to 2024. In the third, concluding part, three stages in the development of IoT are distinguished - birth and initial development, growth and expansion, and ubiquitous connectivity and mass application. The expectations related to the areas of application of IoT and its future combination with artificial intelligence are also briefly touched upon.

AI Tutor Comparison: Google Guided Learning and ChatGPT Study Mode

AI Tutor Comparison: Google Guided Learning and ChatGPT Study Mode
(AI Tutor Comparison: Google Guided Learning and ChatGPT Study Mode)

Author(s):Plamen Miltenoff
Language:English
Subject(s):Social Sciences, Education, Higher Education , Distance learning / e-learning, Pedagogy
Page Range:642-652
No. of Pages:11
Keywords:AI learning modes; GenAI models; teaching with AI; Pedagogy
Summary/Abstract:Artificial intelligence is transforming education through specialized tutoring systems designed to personalize learning in real-time. This paper conceptually compares four emerging learning modes: ChatGPT Study Mode (Socratic/Dialogic), Google Guided Learning (Structured/Scaffolded), Anthropic Learning Mode (Reflective/Constitutional), and Khanmigo (Curriculum-Integrated Inquiry). Drawing on scaffolding theory and constructivist frameworks, the analysis differentiates these models based on their pedagogical "DNA": ChatGPT fosters active learning through strategic questioning , while Google prioritizes source-grounded, multimodal scaffolding. Anthropic emphasizes ethical reasoning and visible "extended thinking" , and Khanmigo utilizes formative feedback loops within a fixed syllabus. For students, these systems can generate 20–30% greater-than-expected learning gains while enhancing metacognitive awareness. For faculty, AI tutors enable a transition toward high-value mentorship and curriculum design as 68% of instructors report a shift in course delivery. In the business sector, these tools offer scalable upskilling solutions, reducing training time by up to 62%. The paper situates these trends within the University of Economics Varna context, advocating for a human-driven framework (HD-AIHED) that utilizes microcredentials to validate collaborative AI literacy. Ultimately, successful integration requires balancing AI’s computational precision with human-centered critical judgment to ensure technology serves as an enabler rather than a replacement for human intelligence.

Rising Techno-Nationalism and Innovation Rivalries: Bulgaria in the Unknown Future of Global Value Chains

Rising Techno-Nationalism and Innovation Rivalries: Bulgaria in the Unknown Future of Global Value Chains
(Rising Techno-Nationalism and Innovation Rivalries: Bulgaria in the Unknown Future of Global Value Chains)

Author(s):Simeon Stoilov
Language:English
Subject(s):Economy, National Economy, Supranational / Global Economy, Business Economy / Management, ICT Information and Communications Technologies, Transport / Logistics, Green Transformation
Page Range:733-743
No. of Pages:12
Keywords:techno-nationalism; innovation rivalries; global value chains (GVCs); international innovation and technology transfer; strategic technologies
Summary/Abstract:The global economy is undergoing structural change. Competition for resources persists within conventional value chains, while innovation leaders redirect the frontiers of rivalry. These dynamics are altering how GVCs operate. When access to key technologies becomes contested, states increasingly securitize and restrict exchange. This tendency, rising across economies, is described as techno-nationalism. It now converges with the sustainability transition to redefine the functioning of GVCs. Today’s dependencies on semiconductors, data processing, biotechnologies, new energy vehicles (NEVs), and new materials generate defensive reflexes and accelerate systemic fragmentation. This study reviews strategic initiatives such as Made in China 2025 (2015), the CHIPS and Science Act (2022), and the EU’s Critical Raw Materials Act (2023/24) as evidence of how states institutionalize control points in emerging industries. It identifies policy pathways through which international innovation and technology transfer can support Bulgaria’s navigation of transforming GVCs and argues that success must be reframed as the attainment of competitive advantage under systemic uncertainty.

Politics-Driven Sustainability Reporting - How Best Ideas May Fail

Politics-Driven Sustainability Reporting - How Best Ideas May Fail
(Politics-Driven Sustainability Reporting - How Best Ideas May Fail)

Author(s):Atanas Atanasov
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Public Finances, Accounting - Business Administration
Page Range:104-116
No. of Pages:13
Keywords:sustainability reporting; ESG reporting; political decisions; political influence; CSRD; ESRS
Summary/Abstract:Background and aim: The paper explores the growing politicization of sustainability reporting within the European Union, focusing on how political interventions have shaped — and in some cases, undermined — the implementation of the Corporate Sustainability Reporting Directive (CSRD). The study aims to critically assess the recent “Omnibus” legislative package and its implications for corporate transparency and the EU’s sustainability agenda. Scope: The analysis is limited to the CSRD regulatory framework, excluding detailed examination of ESRS and CSDDD amendments. Methods: A qualitative policy and document analysis was conducted using EU legislative texts, Commission communications, and professional reports to identify trends and contradictions in sustainability reporting regulation. Results: Findings reveal that political simplification efforts have significantly reduced the scope of obligated entities—by up to 80%—creating uncertainty, inconsistency, and weakened comparability of sustainability disclosures across the EU. Conclusions: Political compromise has diluted the transformative intent of the CSRD and delayed progress toward EU Green Deal objectives. Originality: By linking policy analysis with regulatory outcomes, the paper contributes to understanding the fragility of politically driven sustainability reforms. Practical implications: The findings underscore the need for long-term policy consistency and evidence-based regulation to ensure reliable sustainability reporting.

Marketing Strategies in the Distribution of Medicinal Products Based on the Example of "MediLine Distribution" Ltd

Marketing Strategies in the Distribution of Medicinal Products Based on the Example of "MediLine Distribution" Ltd
(Marketing Strategies in the Distribution of Medicinal Products Based on the Example of "MediLine Distribution" Ltd)

Author(s):Hristo Georgiev, Hristina Mihaleva, Svetla Atanasova, Alexander Angelov
Language:English
Subject(s):Economy, Business Economy / Management, ICT Information and Communications Technologies, Business Ethics
Page Range:285-295
No. of Pages:11
Keywords:pharmaceutical industry; distribution channels; international markets; marketing techniques
Summary/Abstract:The pharmaceutical industry is one of the most dynamic and strategically important sectors of the global economy. In the context of strict regulatory requirements, technological progress and ever-increasing competition, the effectiveness of marketing strategies, especially in the field of distribution, is becoming crucial for the market sustainability and growth of pharmaceutical companies.In the context of the Bulgarian market, this need is even more pronounced. On the one hand, the pharmacy sector in the country is highly fragmented, and on the other hand, customers (including pharmacies and medical institutions) expect fast, accurate and reliable delivery. This places distributors at the center of the value chain and requires them to implement well-thought-out marketing approaches that combine logistics, service and communication.

Relationship Marketing as a Tool for Building Sustainable Business Models

Relationship Marketing as a Tool for Building Sustainable Business Models
(Relationship Marketing as a Tool for Building Sustainable Business Models)

Author(s):Alexander Angelov, Hristina Mihaleva, Svetla Atanasova, Hristo Georgiev
Language:English
Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Marketing / Advertising
Page Range:380-387
No. of Pages:8
Keywords:relationship marketing; sustainability; business models; tourist animation; customer loyalty
Summary/Abstract:Relationship marketing is emerging as a contemporary marketing concept that goesbeyond the boundaries of classical marketing, which is mainly oriented toward salesand short-term profits. At the core of the relational approach is the building andmaintaining of long-term relationships with customers based on trust, commitment,and mutual value. The relevance of the topic stems from the intensifying competitionin the tourism and service sectors, where service quality and customer satisfaction aredecisive factors for the sustainable development of companies. With the advance ofdigitalization and changing consumer attitudes, customers no longer seek merely aproduct or service, but a holistic experience and an emotional connection with thebrand. In this context, relationship marketing appears not only as a method forimproving customer service, but also as a strategic instrument for building sustainablebusiness models.Sustainable business models require the integration of economic, social, andenvironmental dimensions into organizational management. They imply a newphilosophy of interaction between the company and its stakeholders—customers,employees, suppliers, and partners. Relationship marketing provides the conceptualand instrumental framework for the realization of these interactions by emphasizingtrust, loyalty, cooperation, and shared value.The present study seeks to demonstrate that the application of relationship marketingin tourism, and particularly in the field of tourist animation, not only leads to highercustomer satisfaction and loyalty, but also supports the development of sustainablebusiness models. The empirical part is based on a study conducted at “BVSEntertainment” Ltd., one of the leading companies in the field of hotel animation inBulgaria.

Machine Learning at the Edge: Revolutionizing Intelligent Computing Beyond the Cloud

Machine Learning at the Edge: Revolutionizing Intelligent Computing Beyond the Cloud
(Machine Learning at the Edge: Revolutionizing Intelligent Computing Beyond the Cloud)

Author(s):Lyuben Kirev
Language:English
Subject(s):Economy, Business Economy / Management, ICT Information and Communications Technologies, Business Ethics, Green Transformation
Page Range:569-579
No. of Pages:11
Keywords:machine learning at the edge; cloud computing; edge systems; optimization; efficiency
Summary/Abstract:Machine learning at the edge (Edge ML) represents a paradigm shift from centralized cloud computing to decentralized, resource-constrained devices. This article examines the technical underpinnings, economic implications, and transformative potential of deploying ML models directly on edge devices (e.g., sensors, smartphones, IoT hardware). Driven by critical requirements for low-latency decision-making (e.g., autonomous vehicles), data privacy (e.g., healthcare), reduced operational costs (e.g., bandwidth savings), and offline functionality, Edge ML enables intelligent applications in IoT, smart cities, and industrial automation. While challenges in hardware limitations, model optimization, and security persist, advances in TinyML, federated learning, and specialized accelerators are rapidly evolving the ecosystem. Economically, Edge ML reduces cloud dependency, enables new business models, and optimizes total cost of ownership (TCO)—despite higher initial hardware investments. This article argues that Edge ML is indispensable for scalable, privacy-compliant, and economically viable intelligent systems.

Assessment of Engagement with Digital Educational Products (DEP) in Bulgarian Schools

Assessment of Engagement with Digital Educational Products (DEP) in Bulgarian Schools
(Assessment of Engagement with Digital Educational Products (DEP) in Bulgarian Schools)

Author(s):Teodora Daneva
Language:English
Subject(s):Social Sciences, Education, Higher Education , Educational Psychology, Pedagogy
Page Range:653-666
No. of Pages:14
Keywords:Assessment; student engagement; digital educational products; school education
Summary/Abstract:Four hundred thousand years ago, humans discovered fire, and this has completely changed their way of living. The progress achieved by technology could be interpreted as an extension of that achieved by biology. Education is no exception. In the digital decade, learning programs, platforms are updated more frequently, and the adoption of immersive technologies and adaptive learning systems in school education has the capacity to increase student engagement. The study aims to assess children engagement level (aged 11-15) with DEP in Bulgarian lower secondary schools emphasizing its multi-dimensional aspect, as well as to identify its underlying factors through the application of Exploratory Factor Analysis (EFA). In view of that, the assessment of engagement with DEP is conducted through children`s reported behaviour by their teachers, which could be influenced by social biases. Additionally, as the number and digital infrastructure of schools are limited, the results may potentially vary and change during different time periods. The EFA showed that student engagement is a complex construct, identifying one dominant factor. The survey results revealed that Bulgarian teachers implement such products confidently in their classes, confirming that children enjoy DEP sessions in various disciplines. Despite the limitations, the current study provides valuable insights for educational providers in Bulgaria, who can leverage by delivering sustained value through enhanced customer-driven products, while educational experts learn that the application of DEP in their teaching practices introduces new approaches to engage students and improve their learning experience.

The Productivity Paradox and Qualified Workforce Deficit in Latvia's ICT Sector: A Theoretical and Empirical Diagnosis

The Productivity Paradox and Qualified Workforce Deficit in Latvia's ICT Sector: A Theoretical and Empirical Diagnosis
(The Productivity Paradox and Qualified Workforce Deficit in Latvia's ICT Sector: A Theoretical and Empirical Diagnosis)

Author(s):Indra Kristiana Balode
Language:English
Subject(s):Economy, Business Economy / Management, Human Resources in Economy, ICT Information and Communications Technologies
Page Range:744-751
No. of Pages:8
Keywords:productivity paradox; ICT sector; qualified workforce; labour mobility; brain drain; Latvia
Summary/Abstract:Latvia's Information and Communication Technology (ICT) sector faces a dual challenge: a persistent productivity paradox, lagging the EU average, and a critical shortage of a qualified workforce. This lack of skilled labour reinforces the emigration of top professionals, creating a significant barrier to innovation and competitiveness. This paper provides a foundational theoretical framework and an empirical diagnosis of this interconnected problem. Using a bibliographic research method, it synthesizes theories of endogenous growth and intellectual capital mobility to model a negative feedback loop where low productivity, and the deficit of a skilled workforce reinforce each other. The findings offer an evidence-based diagnosis of the structural barriers, establishing the critical link between productivity and the dynamics of the qualified workforce.

Short-Run Effects of Consumption on GDP: An Empirical Analysis for Bulgaria

Short-Run Effects of Consumption on GDP: An Empirical Analysis for Bulgaria
(Short-Run Effects of Consumption on GDP: An Empirical Analysis for Bulgaria)

Author(s):Tatyana Ivanova
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Socio-Economic Research, Green Transformation
Page Range:117-126
No. of Pages:10
Keywords:household consumption; short-run economic dynamics; procyclicality; real GDP growth; Bulgaria; OLS regression analysis
Summary/Abstract:Background and aim: Household consumption is the largest component of aggregate demand in Bulgaria, consistently exceeding half of GDP. This study examines its short-run role as a driver of economic activity and tests whether changes in household expenditure significantly influence real GDP growth. Scope: The analysis covers 1995–2024 using annual data at constant 2020 prices from the National Statistical Institute. Government and non-profit consumption are excluded to isolate household effects. Methods: Following an Augmented Dickey–Fuller test confirming non-stationarity, an OLS regression model in first differences was estimated. Model reliability was checked using Breusch–Pagan, Breusch–Godfrey, Jarque–Bera, and Ramsey RESET tests, with Newey–West robust errors. Results: The coefficient of household consumption is positive and close to unity (β ≈ 0.96, p < 0.01), indicating an almost proportional short-run transmission of consumption to GDP. The constant term is positive, implying additional sources of growth. Conclusions: Household consumption in Bulgaria is strongly procyclical, amplifying both expansions and downturns. Originality and implications: The paper provides one of the first post-COVID empirical assessments of short-run consumption effects on Bulgaria’s GDP. Findings suggest that consumption-driven growth is rapid but temporary, highlighting the need for policies that strengthen productive capacity and income.

Application of International Sustainable Practices and Standards in Tourism Enterprises in Bulgaria

Application of International Sustainable Practices and Standards in Tourism Enterprises in Bulgaria
(Application of International Sustainable Practices and Standards in Tourism Enterprises in Bulgaria)

Author(s):Boryana Umnikova-Rusev
Language:English
Subject(s):Economy, Business Economy / Management, Tourism, Human Resources in Economy, Green Transformation
Page Range:296-306
No. of Pages:11
Keywords:Sustainability; environmental protection; standards; tourism enterprises
Summary/Abstract:Sustainable practices and standards embedded in European policies represent a key element in Bulgaria’s strategic development. This study aims to provide a structured overview of these practices and to analyze their application in the tourism sector. The focus is placed on environmental and social recommendations and standards incorporated into legislation, plans, programs, and strategies. The methodological approach is primarily based on the examination of secondary sources, which were purposefully selected, systematically organized, and subjected to analytical processing.The sustainable development vision aligns with the proposed standards, while simultaneously presenting a number of challenges for their adoption and implementation. The findings aim to draw the attention of tourism enterprises to concrete path that can facilitate the implementation of sustainable standards.

Analysis of Student Satisfaction among Marketing Students at BSU “Prof. Dr. Asen Zlatarov” in the Course “Economic History”

Analysis of Student Satisfaction among Marketing Students at BSU “Prof. Dr. Asen Zlatarov” in the Course “Economic History”
(Analysis of Student Satisfaction among Marketing Students at BSU “Prof. Dr. Asen Zlatarov” in the Course “Economic History”)

Author(s):Svetla Atanasova, Hristina Mihaleva, Hristo Georgiev, Alexander Angelov
Language:English
Subject(s):Social Sciences, Education, Higher Education , Educational Psychology, Pedagogy
Page Range:667-679
No. of Pages:13
Keywords:comparative analysis; student satisfaction; business history; Marketing major
Summary/Abstract:The subject “Economic History” included in the curriculum of the “Marketing” major is intended to familiarize students with how people have provided themselves with food, shelter, clothing and other material benefits over the millennia. On the other hand, the subject under consideration also examines purely economic issues, such as: the role and place of money, labor markets and financial markets, taxes and their impact on the economy, the causes and consequences of economic and financial crises. This places the subject under consideration within the scope of the mandatory subjects for study by students of the “Marketing” major at the Bulgarian State University “Prof. Dr. Asen Zlatarov”. In this regard, the main goal of this paper is to build a foundation of theoretical knowledge about the essence of economic history and to conduct a comparative analysis of the lecturers (of lectures and exercises) of the subject under consideration on it. For the purposes of the analysis, an empirical study was used, which was conducted using surveys distributed through the Google Forms system.

Global Competition for Talent – Competition for Survival

Global Competition for Talent – Competition for Survival
(Global Competition for Talent – Competition for Survival)

Author(s):Alexi Alexiev
Language:English
Subject(s):Economy, Business Economy / Management, Human Resources in Economy, ICT Information and Communications Technologies
Page Range:752-760
No. of Pages:9
Keywords:global competition; human resources; talent; international mobility; innovation; brain drain; sustainable development
Summary/Abstract:The global competition for talent has become a central theme in the 21st-century knowledge economy. This paper, based on the OECD publication The Global Competition for Talent: Mobility of the Highly Skilled (2008), explores how the mobility of highly skilled individuals shapes international competitiveness, sustainability, and corporate governance. We analyze talent flows as both opportunities and threats for national economies, discuss sustainability reporting and board diversity as key corporate dimensions influenced by talent dynamics, and propose a Sustainability Disclosure Index (SDI) as a framework for assessing institutional responses. Through comparative insights from developed and emerging economies, the paper emphasizes that attracting, retaining, and integrating highly skilled professionals is not merely an economic challenge but also a condition for long-term survival in an interconnected world. Background and aim: The global competition for highly skilled talent has become a critical driver of national competitiveness, innovation, and economic growth. This study aims to examine the factors influencing the international mobility of highly skilled professionals and to analyze how countries and organizations can effectively attract and retain top talent in a rapidly globalizing world. Scope: The research primarily draws upon the OECD’s 2008 and 2024 report The Global Competition for Talent: Mobility of the Highly Skilled, focusing on trends in skilled migration, policy responses, and organizational strategies. Limitations include the reliance on existing secondary data and reports, which may not capture the most recent developments in talent mobility. Methods: The study adopts a multidisciplinary approach, integrating economic, sociological, and policy perspectives. A conceptual framework is developed, incorporating sustainability practices and board diversity as factors influencing talent attraction. The Sustainability Disclosure Index (SDI) is introduced as a tool to assess the transparency and commitment of countries and organizations toward sustainable practices. Results: Findings indicate that nations and organizations with comprehensive sustainability strategies and diverse leadership structures attract higher numbers of skilled professionals. The SDI demonstrates a positive correlation between transparency in sustainability and talent inflows.Conclusions: Effective talent management requires combining ethical governance, inclusive leadership, and clear sustainability reporting. Originality: This paper uniquely links sustainability reporting and board diversity to the global competition for talent, providing a novel perspective on talent attraction. Practical implications: Policymakers and business leaders can use these insights to design strategies that enhance their competitiveness in attracting global talent.

Regulatory Review and Analysis of the Preliminary Control by the Public Procurement Agency (PPA)

Regulatory Review and Analysis of the Preliminary Control by the Public Procurement Agency (PPA)
(Regulatory Review and Analysis of the Preliminary Control by the Public Procurement Agency (PPA))

Author(s):Plamena Nedyalkova
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Accounting - Business Administration, ICT Information and Communications Technologies
Page Range:127-139
No. of Pages:13
Keywords:Control; public procurement; activity
Summary/Abstract:Public procurement should not only be viewed in a one-way manner as a specific activity initiated by a person called the contracting authority and implemented by another person/persons called the contractor. Public procurement should be analyzed and viewed as a tool for achieving certain socio-economic goals, both at the national and international levels. It is no coincidence that the European Commission seeks to impose uniform and common criteria for the award of public procurement, so that a uniform approach is applied by the Member States, which will prevent unnecessary fragmentation of public procurement in individual countries and prevent distortion of competition in international European markets. All these factors underscore the importance of public procurement control and the need to systematically conduct checks on them, both during the award process and during implementation. This paper applies the methods of literature review, survey, and analysis. Conclusions and recommendations are drawn that relate to the improvement of the Agency's control activities.

The Impact of Digital Transformation and Intergenerational Differences on Recruitment, Selection, and Employee Socialization in the European Union and Southeast Asia

The Impact of Digital Transformation and Intergenerational Differences on Recruitment, Selection, and Employee Socialization in the European Union and Southeast Asia
(The Impact of Digital Transformation and Intergenerational Differences on Recruitment, Selection, and Employee Socialization in the European Union and Southeast Asia)

Author(s):Yoana Ivanova
Language:English
Subject(s):Economy, Business Economy / Management, Micro-Economics, Human Resources in Economy, ICT Information and Communications Technologies
Page Range:761-770
No. of Pages:10
Keywords:digital transformation; recruitment and selection; employee socialization; intergenerational differences
Summary/Abstract:In the current turbulent environment, the processes of recruitment, selection, and socialization are undergoing significant transformation, becoming a strategic tool. Digital transformation, AI, as well as intergenerational and cultural differences have a tangible impact on these processes. The present report aims to examine and compare the approaches to managing these activities in the countries of Southeast Asia (ASEAN) and the European Union (EU). Content analysis shows ASEAN’s shift toward digital and flexible HR practices, whereas the EU prioritizes regulation and sustainability. For international companies, the adaptation of human resource management practices through glocalization is essential, particularly in the stages of selection and socialization. The conclusion is that effective management of recruitment, selection, and socialization requires the integration of digital technologies with inclusive strategies that account for generational and cultural diversity. Only thus can organizations ensure sustainable development and maintain competitiveness on a global scale.

Methodology for Developing Reference Budgets in the Republic of Bulgaria

Methodology for Developing Reference Budgets in the Republic of Bulgaria
(Methodology for Developing Reference Budgets in the Republic of Bulgaria)

Author(s):Svetlana Todorova, Nedyalko Valkanov, Vanya Hristova
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Micro-Economics, ICT Information and Communications Technologies
Page Range:140-150
No. of Pages:11
Keywords:reference budgets; social policy; income adequacy; living standards; Bulgaria
Summary/Abstract:Bulgaria faces persistently high poverty, inequality, and weak social policy instruments. Existing measures, such as the at-risk-of-poverty threshold or the “subsistence minimum,” rely on static indicators that fail to capture real living costs and lack public legitimacy. This report proposes a methodology for developing reference budgets as an alternative, adapting the European Reference Budgets Network (ERBN) framework to the Bulgarian context. The approach combines three elements: focus groups to define socially shared expectations of adequacy, expert panels using the Delphi method to ensure methodological rigor, and systematic market pricing and data processing to produce transparent cost estimates. The Varna pilot project marks the first attempt to apply this process. By grounding standards in both social validation and empirical evidence, reference budgets can enhance policy accountability, strengthen social resilience, and align Bulgaria with European debates on income adequacy.

Comparative Assessment of Banking and Corporate Governance Models for Growth

Comparative Assessment of Banking and Corporate Governance Models for Growth
(Comparative Assessment of Banking and Corporate Governance Models for Growth)

Author(s):Mihail Nikolov
Language:English
Subject(s):Economy, Business Economy / Management, Financial Markets, Public Finances
Page Range:771-783
No. of Pages:13
Keywords:banking models; corporate governance; Anglo-Saxon model; Continental European model; Japanese model; business dynamics; SME financing; economic growth
Summary/Abstract:This study explores how banking and corporate governance models shape business dynamics and economic growth. It focuses on three major frameworks: the Anglo-Saxon (market-based), Continental European (stakeholder-based), and Japanese (network-based) models. Using World Bank data from 2015–2023, the paper analyzes bank consolidation, business registrations and closures, and GDP growth across developed and developing economies, including Germany, France, the UK, Ireland, Japan, Poland, and Bulgaria. A weighted rating model is developed to normalize indicators such as banks per capita, new registrations, survival ratios, and net business growth. Findings indicate that the Anglo-Saxon model fosters entrepreneurship through easy market entry but is associated with high turnover. The Japanese model promotes resilience and long-term stability but limits new firm creation. The Continental European model achieves a more balanced outcome, combining business entry with greater survivability. Bulgaria demonstrates high entrepreneurial activity but weak sustainability, placing it between the Anglo-Saxon and Continental models. The paper concludes by recommending a hybrid model for Bulgaria, integrating market dynamism, European-style stability, and Japanese supply-chain discipline to strengthen industrial capacity and support sustainable GDP growth.

Bulgaria and the Eurozone: Development of the Perceptions

Bulgaria and the Eurozone: Development of the Perceptions
(Bulgaria and the Eurozone: Development of the Perceptions)

Author(s):Miroslav Kamdzhalov
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, ICT Information and Communications Technologies
Page Range:151-162
No. of Pages:12
Keywords:euro; eurozone; currency; finance
Summary/Abstract:Background and aim: On July 8, 2025, Bulgaria officially completed its long journey to the Eurozone. This journey was marked, especially in its final phase, by heated debates "for" and "against." This study aims to examine the development of Bulgarian society's attitude towards this process and to outline some guidelines for its further development; Scope: certain limitations should be considered. The study is affected by the lack of available or reliable data and certain biases; Methods: Text analysis, induction, and deduction were used for the purposes of the study. Empirical data were extracted from publications and opinions expressed in the broader media space; Results: Uncertainty and a clear lack of understanding of the positive and negative effects on the Bulgarian economy on the part of citizens are still significant; Conclusions: Bulgarian society is dominated by prejudices about the euro caused by deliberate misleading propaganda, and there is a lack of adequate, argument- and fact-based debate and a real information campaign for the population; Originality: The article presents an original, up-to-date author's view of the processes determining Bulgarian society's attitude towards the effects of adopting the single European currency; Practical implications: The results would be useful for entrepreneurs and public figures in making adequate business decisions.

Developing the Corporate Identity of Science & Research at the University of Economics - Varna through NLP Analysis

Developing the Corporate Identity of Science & Research at the University of Economics - Varna through NLP Analysis
(Developing the Corporate Identity of Science & Research at the University of Economics - Varna through NLP Analysis)

Author(s):Nelina Todorova
Language:English
Subject(s):Economy, Business Economy / Management, Marketing / Advertising, ICT Information and Communications Technologies
Page Range:784-788
No. of Pages:5
Keywords:corporate identity; Natural Language Processing (NLP); BERT and LDA models; communication; digital transformation
Summary/Abstract:In the context of digital transformation and increasing competition in higher education, the development and management of the corporate identity of research institutions is becoming a strategic issue. The aim of this report is to analyze the corporate identity of Science & Research at the University of Economics – Varna by applying Natural Language Processing (NLP) methods, assessing how the institution is presented and perceived in the academic and business environment. The scope of the study is limited to the analysis of text data from scientific projects and official communication materials, without including visual or multimedia elements, which is a major research limitation. The research design combines theoretical analysis of corporate identity with empirical research based on an NLP approach. The methodology includes the use of BERT models for emotional and value tone analysis and LDA for identifying the main thematic directions. The results show that linguistic formulation has a significant impact on the perceived institutional identity, with even minimal linguistic changes leading to a significant change in assessments. The main conclusions point to a dominant technological orientation and insufficiently expressed value and humanitarian aspects in communication. The originality of the study lies in the application of NLP as an objective tool for analyzing corporate identity in an academic environment, and its practical implications are expressed in the possibility of optimizing institutional communication and the strategic positioning of research organizations.

Board Structures and AI Leadership in Banking: Evidence from the Top 10 Banks in the Evident AI Index (2020–2024)

Board Structures and AI Leadership in Banking: Evidence from the Top 10 Banks in the Evident AI Index (2020–2024)
(Board Structures and AI Leadership in Banking: Evidence from the Top 10 Banks in the Evident AI Index (2020–2024))

Author(s):Aleksandrina Pancheva
Language:English
Subject(s):Economy, Business Economy / Management, Financial Markets, Accounting - Business Administration, ICT Information and Communications Technologies
Page Range:163-176
No. of Pages:14
Keywords:bank; board structure; corporate governance; evident AI Index
Summary/Abstract:Background and aim: The purpose of this article is to examine the structure and dynamics of the boards of leading banks included in the Top 10 of the Evident AI Index 2025 for the period 2020–2024. The index is used as a reference for identifying banks recognized as leaders in the application of artificial intelligence. After the corporate governance reforms following 2008, bank boards today face new challenges driven by digitalization and AI transformation.Scope: The analysis covers the period 2020–2024 and uses annual reports, proxy statements, corporate governance reports, and documents from annual shareholders’ meetings.Methods: A mixed approach is applied, combining documentary and statistical analysis of board indicators to identify trends observed among the Top 10 banks from the Evident AI Index.Results: The results show that the boards of AI-oriented banks are independent but generationally conservative, with long mandates and limited participation of younger leaders. Half of them apply CEO dualism and traditional committees but still do not fully meet the criteria for digital and technological competencies, therefore remaining technologically vulnerable despite their AI-leading position.Conclusions: The study shows that banking structures adapt slowly to changes in the technological environment. The corporate governance principles adopted in previous years transformed the boards and changed their perceptions of diversification, independence, and security.Originality: The study offers a new perspective on the characteristics of bank boards through the prism of AI leaders, building upon existing research on corporate governance by evaluating the boards of banks in the context of the requirements of the new digital and AI-oriented world.Practical implications: The results provide guidelines for strengthening board policies to meet the challenges of digitalization and artificial intelligence. The study emphasizes the need to improve the technological and digital competencies of directors to support the process of technological transformation of institutions. The study also contributes to the discussion of how challenging it is for boards, given their specific characteristics, to successfully adapt to the AI-driven environment of modern banking.

Challenges and Perspectives for Entering the Electric Vehicle Market in India

Challenges and Perspectives for Entering the Electric Vehicle Market in India
(Challenges and Perspectives for Entering the Electric Vehicle Market in India)

Author(s):Danika Lecheva
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, ICT Information and Communications Technologies, Green Transformation
Page Range:789-804
No. of Pages:16
Keywords:marketing planning; entry modes; electric vehicles; market attractiveness; India
Summary/Abstract:This research explores the most effective approach for entering the Indian EV market, analyzing the challenges and opportunities using Tesla’s case study as an example. The purpose is to evaluate the market attractiveness and identify a suitable entry mode for international investors in the EV sector. The research is limited to an analysis of macroeconomic factors, consumer behavior, government incentives, and competitive dynamics specific to India. A theoretical framework for international marketing planning is applied to assess market potential, analyze the consumer base, and evaluate entry strategies including exports, franchising, joint ventures, and wholly owned subsidiaries. The study finds that Tesla’s or another business’s successful market entry depends on the alignment with India’s localization requirements, navigating regulatory challenges, and responding to infrastructural constraints. Government incentives and growing environmentally conscious consumer base offer potential advantages for entering the market. Joint venture appears to be the most suitable entry mode for an entrant, given India’s policy landscape and market dynamics. This research uniquely combines market attractiveness analysis with an evaluation of Tesla’s global strategy to derive insights applicable to other international EV companies. The findings of this study are relevant to automotive firms, investors, policymakers and researchers, offering strategic insights into electric vehicle market entry and growth opportunities in emerging economies like India.

Liquidity Management in Times of Global Uncertainty: Contemporary Approaches to Working Capital Analysis and Forecasting

Liquidity Management in Times of Global Uncertainty: Contemporary Approaches to Working Capital Analysis and Forecasting
(Liquidity Management in Times of Global Uncertainty: Contemporary Approaches to Working Capital Analysis and Forecasting)

Author(s):Tsvetomir Manolov
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Accounting - Business Administration, ICT Information and Communications Technologies
Page Range:177-183
No. of Pages:7
Keywords:financial analysis; working capital; cash flow optimization; corporate resilience; financial stability
Summary/Abstract:In the context of growing global economic instability, liquidity management has emerged as a critical determinant of organizational resilience. The purpose of this article is to present the theoretical foundations of liquidity management, analyze contemporary approaches to working capital assessment, and synthesize recent research developments in the field. The study conducts a systematic review of the literature, focusing on both developed and developing economies, and incorporates findings from academic publications and empirical studies. The analysis reveals contrasting trends: a marked deterioration in the cash conversion cycle in 2023—when, for the first time in a decade, all key indicators declined simultaneously—followed by a 4% improvement in 2024. The article integrates up-to-date data from 2023–2024 into the theoretical framework, thereby systematizing the latest insights into the effects of global instability. The findings suggest that effective liquidity management requires the integration of both traditional and modern approaches, including stress testing, scenario analysis, and probabilistic modeling. The proposed integrated model provides financial managers with practical tools for optimizing working capital under conditions of heightened uncertainty.

THE SOCIAL DILEMMA – SOME THEORETICAL ASPECTS

THE SOCIAL DILEMMA – SOME THEORETICAL ASPECTS
(THE SOCIAL DILEMMA – SOME THEORETICAL ASPECTS)

Author(s):Krasimira Naydenova
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Micro-Economics, Public Finances, ICT Information and Communications Technologies
Page Range:184-194
No. of Pages:11
Keywords:social dilemma; game theory; financial crisis
Summary/Abstract:Modern economic reality is complex and requires decisions that weigh individual, group and public interests. The behavior of societies, people, corporations, governments, central banks and groups in such situations is an attempt at rationality. The search for an optimal solution in the context of the economic policy of governments and central banks requires dealing with social phenomena that are usually not included in the models. The interests of all are located in different corners of the common puzzle - all will gain more if cooperate, but they fail to do so because of their divergent and subjective, conflicting and short-term interests. An applicable option for solving dilemmas turns out to be game theory. In combination with the theory of rational choice and expected utility, they provide a common toolkit.

Stock Market Crashes - Critical Issues in the XXI Century and Lessons for Emerging Markets

Stock Market Crashes - Critical Issues in the XXI Century and Lessons for Emerging Markets
(Stock Market Crashes - Critical Issues in the XXI Century and Lessons for Emerging Markets)

Author(s):Bistra Radeva
Language:English
Subject(s):Economy, National Economy, Business Economy / Management, Financial Markets, ICT Information and Communications Technologies
Page Range:195-205
No. of Pages:11
Keywords:stock market crash; emerging economies; global investment
Summary/Abstract:Stock market crashes are a phenomenon which continues to occur also in the XXI century, although they differ from previous periods due to the growing importance of emerging markets and their behavioral patterns. Emerging markets have played a much more important role in the global economy in the last over two decades with growing shares both in global GDP as well as in global trade. Given the special place of the economy in China in global trade and economy, Chinese stock market crashes form a particular niche of scientific interest. In this paper is made an overview of contemporary stock market issues with an emphasis on Chinese and other emerging market stock market crash episodes.

Determining the Optimal Ratio Between Internal and External Public Debt for the Latvian Economy

Determining the Optimal Ratio Between Internal and External Public Debt for the Latvian Economy
(Determining the Optimal Ratio Between Internal and External Public Debt for the Latvian Economy)

Author(s):Dmitrijs SMIRNOVS
Language:English
Subject(s):Economy, Business Economy / Management, Micro-Economics, Public Finances
Page Range:206-214
No. of Pages:9
Keywords:public debt; internal debt; external debt
Summary/Abstract:Public debt or public borrowing is considered an important source of income to the government. If revenue collected through taxes and other sources is not adequate to cover government expenditure, government may resort to borrowing. Public debt may be raised internally or externally. Internal debt refers to public loans floated within the country, while external debt refers loans floated outside the country. According to economic theory, the state should primarily borrow on the domestic market. Domestic debt limits the state's risks to the domestic market. In a crisis, the domestic debt can be monetized by the central bank through the purchase of government debt obligations. But domestic debt is associated with the redistribution of financial resources in the state's domestic market. If the state's domestic financial market is small and poorly developed, it is difficult for the government to attract the necessary financial resources. If there is a shortage of funds in the domestic financial market, the government can borrow on foreign financial markets. Foreign markets allow the state to attract the necessary capital to finance important projects. However, with external borrowing, the state loses part of its income, which is paid to external creditors in the form of interest. Foreign borrowing is usually accompanied with vulnerability that may result in debt crises since central bank is unable to produce the foreign currency required to repay external debt. The paper examines the relationship between internal debt and external debt in public debt structure. The aim of the paper is to analyse the main models of public debt management and to develop an optimal ratio between internal and external debt for the Latvian economy.

Strategic Responses to Global Uncertainty: Rethinking Markets, Governance and Innovation Strategic Responses to Global Uncertainty: Rethinking Markets, Governance and Innovation

Knowledge Management in the Age of Artificial Intelligence: New Paradigms for Entrepreneurship, Business, and Economics

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A Micro-Study on the Parameters of the Recent Activity of the Romanian SAI

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Pilot Study on the Social Dimension of Corporate Governance in Romanian Listed Companies

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Integrating Logic Programming with Large Language Models: Opportunities and Challenges

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Municipal Waste Management in the Post-Pandemic Period: Deficiencies and Risks Revealed by Public External Audit – A Focus on Constanța County (Romania)

From Plants to Packaging: The Role of Natural Waxes in Sustainable Food Preservation

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7 Plus 7: New Dimensions in Value Communication and Creation Process. Expanding the Marketing Mix in the Banking Industry

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Preparing Students for the Workplace: Case Studies of AI Integration in Higher Education

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From Economic Knowledge to Civic Responsibility: Rethinking Economic Education in the 21st Century

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Self-Discrimination among Women in the CEECs

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Development of Innovation in Bulgarian Enterprises through European Funding

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Managing Organizational Commitment of Gen Z in Bulgaria’s Fast Fashion Industry during Times of Global Uncertainty

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Attitudes towards Using Generative AI Tools in Communication Training

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Problems and Challenges Associated with the Instruction and Assessment of Student Competencies in the Theory of Control Course in a Distance Learning Environment

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Quantitative Appraisal of Employee Performance through an Output-Oriented DEA Model

Strategic Responses to Global Uncertainty: Rethinking Markets, Governance and Innovation
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Knowledge Management in the Age of Artificial Intelligence: New Paradigms for Entrepreneurship, Business, and Economics
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A Micro-Study on the Parameters of the Recent Activity of the Romanian SAI
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Impact of Non-Technological Innovations on the Sustainable Development of European Small and Medium-Sized Enterprises in the Textile Industry
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New Strategic Landmarks for Romania’s War Equipment and Materials Production Sector
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Pilot Study on the Social Dimension of Corporate Governance in Romanian Listed Companies
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Competitive Landscape and Marketing Strategies in China's Imported Olive Oil Market: An Analysis Based on Packaging Information
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On some Factors of Ordering Goods or Services over the Internet
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Harnessing Learning Analytics and Artificial Intelligence for Student Success: Applications and Implications in Higher Education
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Marketing Strategy Adaptations for Businesses during Bulgaria’s Euro Adoption: Lessons from Croatia
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Is Bulgaria Ready to Restrict Short-Haul Flights?
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Strategic Gaps in Emergency Call Management Research
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The Impact of China’s Waste Import Ban and Basel Convention Amendments on Global Plastic Waste Trade: A Difference-in-Differences Approach
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Online Grocery Shopping in European Union Countries: Studying the Influence of Economic Factors
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Integrating Logic Programming with Large Language Models: Opportunities and Challenges
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Legal Aspects of the Use of Artificial Intelligence in the Activities of University Professors
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Households’ Inflation Expectations: A Behavioural Lens for Measurement and Policy Communication
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Engagement to Express Assurance by Registered Auditors on the Sustainability Report of Pension Funds
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Conflict Management in Veterinary Clinics – Strategic Implications
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Development of the Baltic States in the Eurozone: Selected Aspects
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Theoretical Foundations and Evolution of Relationship Marketing
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Artificial Intelligence from the Perspective of Legislation and Copyright in General, and in Business
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Reframing Careers: ECLD and the Service Turn in Personal Development
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ESG as a Tool for Sustainable Governance and Financial Stability in the Banking Sector
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From Plants to Packaging: The Role of Natural Waxes in Sustainable Food Preservation
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Theoretical-Practical Study of the Commercial Preferences of the Bulgarian Consumer Regarding Organic Food
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7 Plus 7: New Dimensions in Value Communication and Creation Process. Expanding the Marketing Mix in the Banking Industry
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Preparing Students for the Workplace: Case Studies of AI Integration in Higher Education
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From Economic Knowledge to Civic Responsibility: Rethinking Economic Education in the 21st Century
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Resistance to Imposed Organizational Change: Diagnosis, Appearances, and Management Approaches for Its Mitigation
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Self-Discrimination among Women in the CEECs
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Development of Innovation in Bulgarian Enterprises through European Funding
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Managing Organizational Commitment of Gen Z in Bulgaria’s Fast Fashion Industry during Times of Global Uncertainty
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Marketing the Home Aesthetic: Vibe Communication Across Short-Form Platforms
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Raising the Digital Child: Ethics, Consciousness, and the Future of AI
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Attitudes towards Using Generative AI Tools in Communication Training
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Integrating Quality Management Indicators into Market Sustainability: A Case Study of Ceramic Tiles
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Optimizing the Digital Landscape: Research and Applications in SEO and Social Media with keyword planning
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Quantitative Appraisal of Employee Performance through an Output-Oriented DEA Model
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In the Realm of Artificial Intelligence (AI): The Impact of AI on Brand Management in a Digital Era
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AI Tutor Comparison: Google Guided Learning and ChatGPT Study Mode
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Rising Techno-Nationalism and Innovation Rivalries: Bulgaria in the Unknown Future of Global Value Chains
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Marketing Strategies in the Distribution of Medicinal Products Based on the Example of "MediLine Distribution" Ltd
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Relationship Marketing as a Tool for Building Sustainable Business Models
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Machine Learning at the Edge: Revolutionizing Intelligent Computing Beyond the Cloud
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Assessment of Engagement with Digital Educational Products (DEP) in Bulgarian Schools
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The Productivity Paradox and Qualified Workforce Deficit in Latvia's ICT Sector: A Theoretical and Empirical Diagnosis
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Short-Run Effects of Consumption on GDP: An Empirical Analysis for Bulgaria
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Application of International Sustainable Practices and Standards in Tourism Enterprises in Bulgaria
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Analysis of Student Satisfaction among Marketing Students at BSU “Prof. Dr. Asen Zlatarov” in the Course “Economic History”
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Comparative Assessment of Banking and Corporate Governance Models for Growth
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Challenges and Perspectives for Entering the Electric Vehicle Market in India
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Liquidity Management in Times of Global Uncertainty: Contemporary Approaches to Working Capital Analysis and Forecasting
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THE SOCIAL DILEMMA – SOME THEORETICAL ASPECTS
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Stock Market Crashes - Critical Issues in the XXI Century and Lessons for Emerging Markets
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Determining the Optimal Ratio Between Internal and External Public Debt for the Latvian Economy
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