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The focus of this paper is to provide a model for indexing the innovation activity of the companies at national (macro level) and regional level (micro level in two regions), depending on their sectoral affiliation (under NACE) and establishing inconsistencies analysis) to the already identified priority thematic areas at the end of the implementation period of the Integrated Intelligent Specialization Strategy (ISIS). The presented model will serve to correct the existing or validate new priority thematic areas for the post-2021 period and will present criteria for new (for the next programming period) compliance of the fields both with the specifics of the circular economy and with the expected new in territorial aspect planning regions in the Republic of Bulgaria. The research objectives, met are on a desk research of the existing models for assessing the innovation activity of the companies and in particular the activity towards the principles of the circular economy will be made, and on a field research of some 150 business units from the Southwest and South-Eastern regions in Bulgaria, surveyed on the basis of their behavior and behavioral and management decisions of their owners / managers.
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The aim of the article is an attempt to assess the condition of the transport sector in EU countries. The analysis focused on the assessment of the importance of this sector in the national economy, also in the context of job creation. The differentiation of selected parameters describing the productivity of the transport sector at the level of the economies of the EU Member States was assessed. The specificity of this process was assessed in the context of differences between the countries of the "old" and "new" Union. The convergence processes taking place in this area within a group of EU countries were analyzed.
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This paper discusses the results of a survey of Bulgarian enterprises. The outputs imply that the majority of respondents does not recognize staff training as a factor for company’s competitive advantage and success. The survey confirms the view for a lack of sufficient interest and positive attitudes toward life-long learning and management which is an obstacle to competitiveness, efficiency and country’s economic development.
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This research will focus on the broadcast management strategy in Malaysian public television station named as Radio Televisyen Malaysia (RTM) as a way for its business sustainability in the digital age. The digital revolution has modified the way television consumed. Audio-visual content can still be enjoyed watch live shows via television sets but recently the audience can also watch it by using their other screen devices such as mobile phones, personal computers, tablets, or other gadgets. Broadcast managers, executives, and the production team have an important role in the success of a program through responsibility for pre-production, production, and post-production activities. It is not an easy thing for the production team to maintain the aired programs with high demand and ratings. The theory used in this research is the Theory of Broadcast Media Management Strategy by Terry (2012), covering four broadcast management functions as planning, organizing, actuating, and controlling (POAC). The research employing a qualitative case study that will be using online personal interviews as the main source of data collection.
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The European Union is a dynamic community of sovereign states that share and implement common strategies for the digital transformation of their industries. Germany, as the leader of digitalization in the EU and the author of the concept of Industry 4.0, is the first country to develop its national idea of a growing and innovative digital economy. Taking into account the common digital priorities, the European Union has formed a single concept - a model for digital transformation of the European economy. In this context, based on the main documents with a view to establish a digitalized Europe, the main areas for digital transformation in the European Union are revealed. They are a promising vision for both the digital future of Europe and for mutually beneficial and copious digital cooperation.
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The paper explores the online reporting of socially responsible activities of the hotels in Bulgaria in 2021 and conducts a comparative analysis with the situation in 2014 using the same sample. A set of 5 indicators for CSR „reporting”(Holcomb, Upchurch & Okumus, 2007) is extended by one new indicator and implemented for the purposes of the study which is based on content-analysis of 130 hotel websites. In its last part the paper contains conclusions about the state of the CSR online „reporting” of the hotels in Bulgaria and suggestions about better usage of it for hotel online marketing.
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The paper presents and analyzes data from a study on innovation activity of SMEs in the southeastern and southwestern regions of Bulgaria. On this basis, the possibilities for implementation of the Lean concept as an innovative system for overall management of the organization and the benefits that it would contribute to the competitiveness of SMEs in Bulgaria are discussed.
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Most of the world economy is becoming information-driven, knowledge-based organisations are increasing. Significant changes in the business environment from that of a few decades ago are challenging management to create organizations that are intelligent. This requires knowledge management to be integrated as a system into overall organisational policy. The paper focusing on the key role of knowledge management in enhancing the smart enterprise's capacity to manage the change and continuously adapt to rapidly changing business environments.
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The article considers methodological approaches to the organization's knowledge management; on the basis of international standards, the elements of the knowledge management system are identified and adapted to the conditions of the educational organization; the result of the work is an algorithm of the knowledge management process in the conditions of corporate training implementation, which was tested on the basis of the Technical University of the Ural Mining and Metallurgical Company (Russia).
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Transport is considered as the basis of socio-economic development in the European Union countries. As every activity it generates positive and negative external effects for the environment, society and economy. Therefore, all activities in this area should be balanced in order not to destabilize the economy of particular countries, help society and protect the natural environment. Hence, there is a need for the correct diagnosis of sustainable transport development in particular European Union countries.The main aim of the paper is to attempt the assessment of sustainable transport development level in European Union countries and identify the underdeveloped spatial areas as the base of implementation for the support policy. In the scope of dealing with research problem, both classic and order, chosen multivariate statistical measures were implemented into the research process. Moreover, the order taxonomic method with Weber median were introduced which allowed to take into account interactions (directly unobservable relationships) in the set of diagnostic variables and made the analysis immune to skewness of particular diagnostic variables.
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This report will present the results of a survey conducted among 150 companies from the Southwestern and Southeastern region of Bulgaria to evaluate the importance of the factors for the introduction of marketing innovations in the activity: 1. changes in the design and packaging of a product or service; 2. new methods and techniques for product promotion; 3. new methods for positioning products on the market or entering new sales channels; 4. new methods for pricing of goods or services and establishing the state of the factors in introducing innovations in products and services for the companies in the sample.
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SMEs play a very important role in each country's economy. Therefore, it is vital to participate in innovation activities and to examine the internal and external obstacles they encounter during the innovation process. This paper presents examination of some of the results from a survey, conducted with 150 companies in Bulgaria and related to their innovation culture, attitudes and perceptions, as well as their activities, including investments. The obtained results could be used for SME investors’ framework development using classification and clustering methodologies.
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The purpose of this paper is to study the implications of auditors' rotation on financial audit reporting in the case of companies listed on the Bucharest Stock Exchange in the period 2011-2021. It was analyzed the relationship between the rotation of audit firms and the audit opinion, the impact on the audit cost, as well as the effects on the key audit matters. The regulatory framework has been modified at the same time for the key audit matters and the rotation of auditors, and it is therefore interesting to examine how they associate with each other. Using the descriptive statistical analysis method mainly oriented towards graphical analysis, it is illustrated that the rotation of audit firms leads to improved reporting in audit by reducing the number of modified opinions, respectively increasing the number of KAM communicated in the audit report. Finally, the change of auditor does not lead to substantial changes in the audit fees, which is why such a decision is not determined by considerations of reduction of audit costs, but rather by other reasons.
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Purpose – The purpose of this paper is to identify the chances that a certain type of investor will purchase a stake in an industry target company, considering the accounting practices and / or the audit opinion, to which certain financial information is added, related to size and profitability. The influence of these factors on the acquisition decision, reflected in the deal value, is also analyzed. Methodology – For testing and validation of working hypotheses, multinomial logistic regression, generalized linear models and multiple correspondences analysis are used, considering a sample of 631 acquisitions from the Bucharest Stock Exchange (BSE).Results – The undisclosed investors (in most cases, individuals) are interested in the size of the company, while companies consider the quality of the information provided by the target company, which applies IFRS and has the financial statements accompanied by the opinion of an auditor. Profitability is a significant factor for unlisted investors. As for the price that these investors decide to pay in the transaction, it is positively influenced by all the factors mentioned above. Originality – The study provides an overview of the types of investors who acquire stakes on the BSE and of the factors that influence the chances that they will pay a certain price for equity stakes.
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Audit fees are among the essential concerns of audit firms and regulators. The paper's objective is to analyze the evolution of audit fees collected by auditors. Based on the data included in the Audit Analytics database, a sample of 1927 distinct companies was selected. 24921 observations were reported, representing audit fees from 2009 to 2020. The research showed that the audit market was concentrated around Big4 auditors, whose number increased directly to the number of issued reports. Most of the audited companies were in the field of Finance, insurance, and real estate (28%) and in the field of Production (32%), the majority being headquartered in the United Kingdom and France. The evolution of audit fees fluctuated during the analyzed period, but the trend of the average fee was decreasing. The share of fees was 58.6% for performing audit missions and 40.4% for non-audit services. The evolution of the average fee was inversely proportional to the value of the declared income and assets and the audit fees collected by the auditors. Therefore, the level of fees should be correlated with the volume of auditors' activity, the industries' complexity and the financial performance of the companies.
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Numerous studies in the national and international literature highlight the link between fiscal pressure and various characteristics of companies, such as: company size, level of indebtedness, field of activity in which the company operates, level of investments in fixed or current assets, corporate governance and corporate social responsibility index. In what concerns the link between fiscal pressure and company size, there are two different points of view: one that claims that large companies are subject to greater public scrutiny and therefore bear a "political cost" in the form of higher effective tax rates, and the other which considers that large companies pay less taxes because they allot more resources to tax planning. This study aims to analyse the extent to which the level of fiscal pressure is influenced by the size of companies in our country, particularly those listed on the BVB (Bucharest Stock Exchange), a characteristic defined by three indicators: turnover, average number of employees and total assets held by companies. Regarding the level of fiscal pressure, the variables used in the analysis include the effective tax rate, calculated using calculation formulas that include both current corporate income tax expense and deferred tax expense. Since corporate income tax is only a part of the total taxes and duties that the company has to bear, the research was extended to an indicator that includes in addition to corporate income tax, other expenses incurred by companies as well, respectively those related to contributions for their employees, but also expenses with other taxes and duties due to the state budget.
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The topic of management decisions is a scientific field that challenges researchers. The environment of complete uncertainty requires quick and adequate solutions. The methods for making management decisions are diverse, but the unprecedented conditions of the last year show that practical experience and scientific knowledge are not enough. We are witnessing that the decisions of some managers are more adequate than the decisions of others. The main idea we defend in this article is that the role of expert intuition in this case is very large. Managers with expert intuition are sought after and begin to adapt with their expertise. This requires a new approach to expert intuition and its rethought application in making management decisions.
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The report is dedicated to the emerging challenges facing the municipalities on the Bulgarian Black Sea coast. A general demographic situation is outlined. The purpose of the presentation is to derive the possibilities for the assessment and analysis of the achieved regional model of functioning. The exhibition presents both deficits and peculiarities of the regional development of these municipalities. An attempt has been made to derive a more comprehensive assessment of the socio-economic and territorial potential of these municipalities, in line with their investment needs and opportunities for regional business development and improvement of human capital in them. Regional development policies have been proposed to promote their regional development, as well as to initiate a debate on the issues of public administration, strategic development such as infrastructure networks and urban areas within the national and European economic space.
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In this paper we made a review of the research in the field, including our own research up to now, in what regards the organization of information on a building which should permit the multi-criteria analysis with accent on economic aspects. In this sense we worked on approaches on the scale of the building as well as on urban scale. We put the accent on the software support of the organization of information, from the analysis of the suitability of game theory for computer games, up to the work on ontology and on the transposition of semantics to 3D models characteristic for these scales. We propose alternatively to the approach to costs through devices the approach based on functional surfaces, which correspond to the space, in a container-contents approach. In this context both the topological and typological relationships between spaces are important, and the different methods which stay at the basis of the computer based approach enter a dialog through our concept.
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