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Разпознаваемост на френски и италиански вина в България: уроци за местни винени клъстери

Author(s): Petyo Boshnakov,Georgi Marinov,Irina R. Kancheva / Language(s): Bulgarian Publication Year: 0

In our study we explore how distinctive are French and Italian wines for Bulgarian residents. Our aim is to draw some lessons from the perceptions about foreign wines for the building of local wine clusters. We use an online survey, searching how recognizable are French and Italian wines for Bulgarian residents. We apply our research instrument twice - in May and in December 2018, with respondents aged 19-66, with questions about identification of wines and about pricing. Bulgarian residents distinguish fairly well French and Italian wines, yet the process depends on the availability of vine sorts in Bulgaria, as a base for Bulgarian wines. Perceptions of prices widely differ from the reality in Bulgarian retail, and we consider this gap as a potential to exploit in the creation of wine clusters. From the point of view of cluster’s fundament, clusters in the wine sector should be based primarily on the national or regional cultural identity and therefore transformed over wine sector identity.

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Cultivating Applied Competences Through Mission - Based Learning

Author(s): Bistra Vassileva / Language(s): English Publication Year: 0

The aim of this paper is to explore the implementation of a businessoriented and experience-based learning environment and its effects on cultivating responsibility among students in the field of economics. The main proposition states that by providing students the opportunity to experience different professional skills as data collectors, researchers and decision-makers could establish a solid background for raising their responsibility. Our intention is to offer a coherent framework that is student-oriented and makes use of activebased learning with implementation of research methods to support academics in encouraging student active participation. To meet these goals, a longitudinal study was conducted. The results were used to identify the layers and the structure of the Reference Framework for Applied Competences (REFRAC). The background layer which correspondes to carrer-sustaining curriculum planning level was tested using different learning methodologies.

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РАКУРСИ В ТРАДИЦИОНАЛИЗМА И ИНОВАТИВНОСТТА НА ПРЕПОДАВАНЕТО И ОБУЧЕНИЕТО ПО СЧЕТОВОДСТВО, ОДИТ И ФИНАНСИ

Author(s): Nadya Kostova / Language(s): Bulgarian Publication Year: 0

The challenges which financial and accounting profession of today face also influence the development of higher education. The teaching and training in accounting, auditing and finance should be directed to integrated education of the personality through “crossing” majors in order to acquire broader knowledge and skills that provide an adequate basis for the professional competence of accountants.

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China’s Civil Aviation at the Beginning of the 21st Century – Can Europe Remain Competitive?

Author(s): Martin Grančay / Language(s): English Publication Year: 0

The paper is divided into six sections. After a brief introduction it provides a simple statistical comparison of selected civil aviation indicators in China and in the USA. The next three sections deal with the state of the three pillars of aviation in China; that is airports, airlines and aircraft production, as compared to the European Union. The final section provides conclusions about whether and how the European air transportation sector can remain competitive.

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Soft law as a factor stabilizing the financial system

Author(s): Emilia Klepczarek / Language(s): English Publication Year: 0

This paper aims to discuss the use of soft law as one of the factors stabilizing the financial system. The advantages and disadvantages of replacing traditional legal regulations with soft law regulations in certain areas of banking supervision will be presented. An attempt will be made to prove that soft law applied in financial supervision may not only increase the security of particular institutions, but also enhance their effectiveness and public confidence.

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Banks in Poland in the face of new regulations on executive remuneration

Author(s): Agnieszka Słomka-Gołębiowska / Language(s): English Publication Year: 0

The aim of this paper is to examine the extent to which the current practice of rewarding bank executives in Poland differs from international benchmarks, taking into account the most recent Polish regulations, in force since 2012. The question is whether the new legal rules will have a signifi cant impact on the structure of executive compensation in banks. The paper describes recent recommendations of international organizations on how to regulate executive pay in the financial services industry, and compares them with the legal initiatives introduced in Poland. I also discuss the merits of such regulation in order to assess whether it can achieve the stated objectives. In the following section the findings related to executive remuneration practices in banks in the face of the new regulation will be presented. The final section presents the conclusions drawn.

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Should Polish banks be domesticated

Author(s): Krzysztof Postrach / Language(s): English Publication Year: 0

For many years now we have seen the process of introducing EU regulations aimed at integrating the banking systems of the Member States. Now, the work which was undertaken because of the recent financial crisis with a view to enhancing the banks’ safety is coming to an end. Polish banks are members of international capital groups as subsidiaries and this fact gives rise to problems resulting from the centralization of capital and liquidity management at the level of the group as well as the centralization of supervision in the European Union. The recent financial crisis has highlighted these issues and sparked a debate concerning the fact that most Polish banks are dependent on their foreign headquarters. The question is whether the current ownership structure of banks operating in Poland is beneficial for the Polish economy and whether there is an alternative solution to this situation. The ownership structure of these banks has lately been questioned. There are many arguments in favour of making these banks independent rather than subsidiaries of other banks. This alternative is known as bank domestication. Re-Polonization of banks is also discussed. The domestication of banks is understood as the process by which the share of locally controlled and managed banks in the assets of the banking sector will increase.

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Receivership in banking: Theory and practice

Author(s): Piotr Masiukiewicz / Language(s): English Publication Year: 0

The thesis of the paper is as follows: receivership management is an effective legal and managerial instrument for rehabilitation of banks, but regulations in this field are insufficient in Poland.

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Rise of Asia: implications for Europe and the United States

Author(s): Rouben Azizian / Language(s): English Publication Year: 0

There appears to be a consensus that Asia is “rising.” Much of the change in the decades ahead will relate, of course, to the rise of China and, in China’s wake, the rise of India. They add to Asia’s already substantial share in the world economy and, within little more than a decade or so, that will make Asia the largest centre of world output and trade of any region in the world — bigger than North America, and bigger than all of Europe.

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The impact of the current economic crisis on the Chinese position in Europe

Author(s): Tomasz Kamiński / Language(s): English Publication Year: 0

Since the beginning of the financial crisis relations between the EU and China have fundamentally changed. Beijing used to be a recipient of European aid and investments. Nowadays, China is perceived as a donor and investor, and thus the status quo has changed. Coming back to Whalley’s concept of economic power, Chinese “bargaining power in cooperative arrangements between countries” has definitely increased, and so has its retaliatory power. Beijing has a new instrument that can be used in political relations with European partners: investment promises. For the time being its importance may be limited, but it could become very valuable for China in the future.

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Challenges and opportunities of the common EU energy market

Author(s): Mariusz Ruszel / Language(s): English Publication Year: 0

The creation of a common EU energy market is a challenge which the governments of EU countries and EU institutions have to meet. The difficulties experienced so far in the scope of implementation of EU directives concerning the liberalisation of the energy market confirm that member states trying to reach the EU goals are simultaneously attempting to protect the interests of their own energy companies.

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Development of global value chains

Author(s): Oľga Nosáľová / Language(s): English Publication Year: 0

The main objective of the chapter is to present the basis and development of global value chain and the reflection of this issue in publications in the literature from the time when commodity chains began to change the nature of relations between suppliers and buyers from different countries till present. It explains how and why the fragmentation of production has contributed to the strong interconnectedness of the countries and how different authors and institutions responded to this development. Their approaches and characteristics are summed up according to stages and commodity chain (CC), global commodity chain (GCC) and global value chain (GVC) theories.

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Development of global value chains

Author(s): Oľga Nosáľová / Language(s): English Publication Year: 0

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On Origins and Implications of the Sovereign Debt Crisis in the Euro Area

Author(s): Rajmund Mirdala,Anna Ruščáková / Language(s): English Publication Year: 0

The current Euro Area crisis has revealed certain flaws of the Euro Area, such as its vulnerability toasymmetric shocks and its inability to act as assumed by the optimum currency area theory (Jagerand Hafner, 2013). It has highlighted the serious lack of confidence in the ability of the Euro Area toface challenges resulting from political and economic development in the Euro Area countries and inthe world economy (Goméz-Puig and Sosvilla-Rivero, 2012).

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The Effects of the Crisis on Euro Area Member Countries

Author(s): Júlia Ďurčová,Ľudmila Bartóková / Language(s): English Publication Year: 0

When the project of monetary union among European countries was being prepared it was not expected that Europe would be hit by such severe crises as occurred few years ago. “Shortcomings”of the euro area were well known even at the beginning, as well as the fact that future EMU countrieswere far from being the optimum currency area. However, it was not anticipated it would be necessary to address these issues and existing asymmetries in such a short time. Even after more than a decadea position of certain countries, especially of so-called former transition economies can be still described as a lagging. What is more, differences and asymmetries can be found also in the group of “founder”countries, or EMU core countries, as they are often called.

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Decomposing Euro Area Sovereign Debt Yields into Inflation Expectations and Expected Real Interest Rates

Author(s): Rajmund Mirdala / Language(s): English Publication Year: 0

Recent macroeconomic development in the Euro Area, characterized by persisting deflationary pressures, induces fundamentally different background for the economic policy framework and related institutions experimenting with a convenient policy mix to provide growth incentives and improve growth perspectives in the Euro Area.

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Exchange Rate Pass-Through in the Euro Area

Author(s): Rajmund Mirdala / Language(s): English Publication Year: 0

Exchange rate pass-through to domestic prices represents one of the most discussed topics in the recent literature dealing with a wide area of effects associated with exchange rate flexibility. The establishment of the Euro Area and introduction of the euro represent a crucial milestone in the ongoing discussions highlighting positive and negative implications of the nominal exchange rate rigidity. On the other hand, we suggest that it is still convenient to analyze the wide spectrum of effects related to the abortion of the relative flexibility of the national exchange rates after the euro adoption (Barhoumi 2006). Among many of impulses that the exchange rate transmits from the external environment to the domestic market we highlight price related effects associated with sudden changes in the foreign prices and related responsiveness of the domestic price indexes.

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Real Exchange Rates, Current Accounts and Competitiveness Issues in the Euro Area

Author(s): Rajmund Mirdala / Language(s): English Publication Year: 0

Euro Area member countries are still suffering from negative effects of the crisis period. Increasing economic imbalances have become obvious in the Euro Area since the start of the monetary union. Differentials in productivity, inflation and unit labor costs were indeed very persistent (Comunale and Hessel 2014). Economic and debt crisis highlighted their existence and impropriate economic policy mix has even intensified their negative implications. Economic imbalances are obvious not only among different countries (e.g. rising disparities between core and periphery) but also within particular member countries of the Euro Area (Gruber and Kamin, 2005). In addition, we can observe clear contagion effect among the European Union member countries. Disturbances and distortions are fairly transmitted on both intra-country and cross-country levels (Berger and Nitsch, 2010).

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Effects of Fiscal Policy Shocks in the Euro Area (Lessons Learned from Fiscal Consolidation)

Author(s): Rajmund Mirdala / Language(s): English Publication Year: 0

European Union member countries are currently exposed to negative implications of the economic and debt crisis. Questions associated with disputable implications of fiscal incentives seem to becontrary to the crucial need of the effective fiscal consolidation that is necessary to reduce excessivefiscal deficits and high sovereign debts. As a result, governments tend to reduce public expendituresand raise taxes during the periods lagging recession and thus cooling down economies. However, an appropriate composition of fiscal incentives without direct negative effect on the public budget and its revenue and expenditure sides may help to reduce negative budgetary pressures through increased tax capacity of the economy followed by stronger growth of real output. While challenges addressed to the fiscal policy and its anti-cyclical potential rose steadily but not desperately since the beginning of the economic crisis, the call for fiscal consolidation became urgent almost immediately and this need significantly strengthen after the debt crisis contagion flooded Europe.

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Uwarunkowania społeczno-kulturowe postaw przedsiębiorczych młodzieży z obszarów wiejskich

Author(s): Ewelina SUDRA / Language(s): English,Polish Publication Year: 0

The purpose of this chapter is, starting with a review of the definition of entrepreneurship, to draw attention to the factors promoting the development of entrepreneurship and show barriers to the development of entrepreneurship of young people in rural areas. Determinants can be divided into three levels of conditions relating to entrepreneurial attitudes, ie. personality traits, which provide a framework of internal conditions. The external environment consists of the macro conditions and local conditions. In this chapter I focus on the presentation of socio-cultural entrepreneurial mindset that fall within the scope of the macro-environment conditions.

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