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Statistical Assessment of Annual Maximum Daily Precipitation over Bulgaria in the Period 1892-2018

Author(s): Krastina Malcheva,Tania Marinova,Lilia Bocheva / Language(s): English Publication Year: 0

Annual maximum daily precipitation from 292 meteorological stations of the national meteorological network has been used to investigate the statistical properties of extreme precipitation in the period 1892-2018. The stationarity of time series has been examined for abrupt changes and slow variations by the non-parametric Pettitt and Mann-Kendall tests. The return levels of annual maximum daily precipitation for selected probabilities of exceedance have been assessed on the base of the best-fitted combination of probability distributions and parameters estimation methods for each of the time series.

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Ecological Assessment of Struma River in Pernik Region, Bulgaria in December 2019

Author(s): Antonina Kovacheva,Diana Rabadjieva,Radost Ilieva,Rumiana Gergulova,Veselin Nanev,Ivelin Vladov / Language(s): English Publication Year: 0

The hydrological characteristics of water basins in Pernik region, Bulgaria have been badly worsened since the summer of 2019. This study was performed in the low-flow period of December 2019 and covered eight sampling stations along the Struma River between Studena dam and Pchelina dam, region of the town of Pernik. The analytical data obtained and the calculated threshold pollution indices of the single nutrients PO43-, NO2-, NO3- and NH4+ and their integrated threshold pollution indices showed water pollution in respect of PO43- and NH4+. The concentrations of PO43- at all stations, of NH4+ ions in the waters after Pernik city, and of NO3- and NO2- before Pchelina dam exceeded the respective maximum allowed concentrations (MAC) according to the Bulgarian legislation. The waters were pure in respect of the trace metals Al, Fe, Co, Ni, Cu, Zn, Cd, and Pb; only Mn exceeded its MAC. The chemical species of the trace metals were calculated by thermodynamic modeling and discussed on the base of the “Hard and Soft Acids and Bases” (HSAB) principle.

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Eco-Innovation as a Basis for Clean Production Model in the Food Industry: an Insight from Bulgaria

Author(s): Silviya Topleva,Tsvetko Prokopov,Donka Taneva / Language(s): English Publication Year: 0

n this paper we propose a model for implementation of eco-innovations of clean production in the SMEs of the food industry in Bulgaria. The clean production is a preventative approach to managing environmental aspects. The paper presents the essence of clean production, the methods for its achievement and outlining the possible options and barriers for SMEs from the food industry in Bulgaria to implement the relevant eco-innovations. The ecological footprint of the food industry makes the need for an integrated implementation of clean production practices from raw material extraction to packaging and waste disposal of final consumer.

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Assessment of the Changes in the Groundwater Recharge to Precipitation Ratio in the Recent Years Influenced by the Air Temperature and Rain Intensity Increase In The West Aegean Region Of Bulgaria

Author(s): Olga Nitcheva,Polya Dobreva,Nelly Hristova,Vesselin Koutev,Donka Shopova,Albena Vatralova,Emil Bournazki / Language(s): English Publication Year: 0

The topic of this report concerns the expected changes of the important part of the water resources of Bulgaria caused by the moving of the main precipitation to the warm seasons. The study examines the influence of the air temperature and rain intensity as main factors for the change in the potential groundwater recharge / precipitation ratio in the summer months of three recent years on the territory of Southwest Bulgaria (Basins of Struma and Mesta rivers). The assessment has been performed by application of a precipitation-runoff hydrological model, which is a sub-model of NASA's climate model.

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Rapana Venosa Rapa Whelk Responsible for Rapid Destruction of Black Sea Coastal Mytilus Galloprovincialis Littoral Reef Communities – Results from a Preliminary Study in Sw Black Sea (Sozopol Bay, Bulgaria)

Author(s): Dimitar Berov,Stefania Klayn,Ventzislav Karamfilov / Language(s): English Publication Year: 0

The dynamics of predator-prey interaction between the invasive Rapa whelk R. venosa and the black mussel M. galloprovincialis in the coastal zone of the Black Sea shapes the structure of the benthic hard rock ecosystems in the littoral area of the basin. Applying a combination of observational methods (transects, photo surveys) and exclusion ’cage’ experiments we tracked the rapid increase in Rapa whelks population density (from 1.1 ind.m2 up to 13 ind.m-2) and the destruction of infralittoral mussel communities by the Rapa whelks in the study area (from up to 2469.95±1184.82 g.m-2 wet biomass and 1054.66±228.19 ind.m-2 to practically none). A rapid recovery was noted just 6 months later in caged experimental plots where R. venosa could not reach the newly settled mussels, in contrast to open plots where no new mussel colonies developed. The importance of harvesting of Rapa whelks by divers as means of local control of their populations, and of the preservation of natural circalittoral M. galloprovincialis populations as sources of larvae for the resettlement of coastal habitats is also discussed.

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Remote Sensing of Oil Pollution in the Black Sea – the Mopang Case

Author(s): Irina Gancheva,Elisaveta Peneva / Language(s): English Publication Year: 0

This study focuses on the case of the underwater oil leak form the ship Mopang, sunk in 1921 near the city Sozopol on the Bulgarian coast. In the summer of 2018, some of its engine fuel was released and reached the coast, gaining significant public and media attention. The available Sentinel-1 radar images for the affected region for the years 2017 and 2018 are processed and the results show that oil leaks were visible as early as February 2017. Significant amount of oily discharge was detected during the summer months of both years. During the rest of the year there were occasional discharges, without accumulation during particular periods.The sunken ship Mopang is used as a verified case to demonstrate the capability of remote sensing techniques for reliable detection of oil pollution on the sea surface in small scales close to the shoreline, combining radar and optical data. Sentinel-1 and 2 images, together with drone acquisitions are analysed, discussing the benefits of each method and taking into consideration the particularities of the region of interest. Based on the availability of radar acquisitions with detected oil slicks twice a day at 4 am and 4 pm for some days, we have investigated the evolution of the detected oil slick on the sea surface, depending on the marine meteorological conditions.

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A Stochastic Numerical Approach for Contaminant Removal in Constructed Wetlands under Uncertain-But-Bounded Input Parameters

Author(s): Konstantinos Liolios,Georgios Skodras,Krasimir Georgiev,Ivan Georgiev / Language(s): English Publication Year: 0

The operation problem of Horizontal Subsurface Flow Constructed Wetlands (HSFCW) to remove pollutants under uncertainty is investigated numerically in a stochastic way. Uncertain-but-bounded input-parameters are considered as interval parameters with known upper and lower bounds. This uncertainty is treated by using the Monte Carlo method. A typical pilot case of an HSFCW concerning Biochemical Oxygen Demand (BOD) removal is presented and numerically investigated. The relevant numerical results have a good matching to available experimental ones, and so the effectiveness and the reliability of the proposed stochastic approach is proven.

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Current Migration of Bulgarians from Albania to Bulgaria: Towards a New Migration Model of the Historical Bulgarian Diaspora

Author(s): Spas Tashev / Language(s): English Publication Year: 0

The article analyzes the current status of the Bulgarian community in Albania and the ongoing migration processes towards Bulgaria. The author takes the position that Bulgaria should be open to Bulgarians in Albania in any case and at any time, but not to press them to settle in Bulgaria at any cost. The optimal solution is to promote the circular, mainly seasonal migration of Bulgarians from Albania to Bulgaria. In this way, this population will continue to live in its native places, but it may be Bulgaria’s demographic, labor and geopolitical reserve.

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Bulgarian Return Migrants: Segmentation by Accomplishment of Migration Aims

Author(s): Venelin Boshnakov / Language(s): English Publication Year: 0

The paper presents some preliminary results obtained during the realization of Research Project: “Return Migrants: Segmentation and Stratification of Economic Mobility” (2017-2020) supported by Grant No.DN05/6-14.12.2016 by Bulgarian Science Fund. These results have been derived from a dataset generated by a questionnaire survey among Bulgarian migrants conducted in 2017 after their return – temporary or permanent – to the home country. On the basis of the respondents’ statement that evaluates the achievement of their migration aims, possible interaction is explored between this achievement and the socio-economic profile of the interviewed migrants. For this purpose a binary logistic regression model has been estimated involving demographic, social, economic, and migration experience independent variables. The major results are discussed outlining further directions of a more comprehensive study of the determinants of the achievement of migration goals by return migrants.

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Stratification and Social Mobility of Bulgarian Returning Migrants

Author(s): Andrey Nonchev,Marieta Hristova / Language(s): English Publication Year: 0

The paper explores the social inequalities and mobility of returning migrants. Their social stratification is conceptualized through the concept of their socio-economic status. Different dimensions of the social stratification are examined, with the main focus on economic (income, employment, property), educational and qualification inequalities between returning migrants. The vertical (ascending and descending) economic and social mobility of the remigrants throughout the migration cycle and its individual phases is also traced. The social and economic effects of the migration carried out are analysed through the self-assessments of the return migrants’ financial and social status.

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Effects of Workers’ Remittances on the Home Country: The Case of Bulgaria

Author(s): Vesselin Mintchev / Language(s): English Publication Year: 0

The present report reviews issues, related to the compensation of employees and the workers’ remittances of emigrants. Data based on information from international institutions and from the Bulgarian National Bank, regarding the relative shares of the said pair of items in GDP, is provided. On the basis of information from an empirical sociological study, carried out in 2017 within the framework of the project entitled: “Returning Migrants: Segmentation and Stratification of Economic Mobility” (financed by the Scientific Research Fund of Bulgaria under contract No. DN 05/6 dated 14/12/2016) the profile of individuals supporting their relatives, who remained in home country, is outlined. An answer is sought to the question of what drives the active remittance behaviour of the returning migrants during their stay abroad. Indication is provided of the purposes, for which the remittances are used and the types of businesses they generate.

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Virgil Madgearu: profesorul, omul cetăţii, doctrinarul (Full eBook)

Author(s): / Language(s): Romanian Publication Year: 2020

This volume is a collective work dedicated to the memory of Virgil Madgearu (1887-1940) a preeminent professor of the Academy of Higher Commercial and Industrial Studies, the innitial name of the Bucharest University of Economic Studies. Each chapter of the book reveals defining elements of Madgearu’s life and work, his beliefs, viewpoints and active involvement in the academic and institutional development of the university (1917-1940), in the interdisciplinary research of the economy and society, in shaping the Romanian peasant doctrine and promoting Europe wide the interests of agrarian countries, in assuming political responsibilities as parlamentarian or as member of various interwar governments. As a respected professor and a leading politician he vigorously rejected the presence and influence of extreme right movements in the society and that valiant attitude was at the origin of his assassination in November 1940.

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Членството на България в ЕС: седем години по-късно

Author(s): Svetla Boneva / Language(s): Bulgarian Publication Year: 0

Bulgaria concluded its seventh year of full EU membership at the beginning of 2014. This is a period long enough to review the successes and failures, expectations, disappointments, and attempts to stand and defend our interests in the Union. The paper analyses the first seven years of the Bulgarian membership in the EU considering the challenges brought by the economic and financial crisis, growing Euroscepticism and the revival of nationalist rhetoric. The second 7-year period of the Bulgarian membership is under the multiannual financial framework between the years of 2014-2020 which significantly decreased the budget for two key EU policies – the Common Agricultural Policy (CAP) and the Cohesion Policy (CP). The author analyses the implications from the Bulgarian perspective and suggests that further efforts are needed to support country’s capacity to absorb EU funds through high-quality projects, transparency in the public procurement process and effective judiciary, public administration, more decisive steps for e-government.

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Non-financial reporting in selected European countries

Author(s): Nikolina Dečman,Petr Petera,Marzena Remlein,Ana Rep / Language(s): English Publication Year: 0

Directive 2014/95/EU gave the EU Member States a certain flexibility when transposing it into national law. Each Member State could, therefore, decide to introduce regulations of varying degrees of stringency. According to Directive 2014/95/EU, large companies have to publish reportson the policies they implement in relation to environmental protection, social responsibility and treatment of employees, respect for human rights, anti-corruption and bribery, diversity on company boards (in terms of age, gender, educational and professional background). In order to satisfy the EU rules, the Republic of Croatia has implemented into its legislation the provisions of the Directive 2014/95/EU regarding the disclosure of certain non-financial reporting,by amending the Accounting Act. Some companies registered in Croatia have been disclosing some of the required non-financial information in their reports even before the effective date of the Directive,but conducted studies conclude that there is still a room for improvements.This chapter provides a short overview of regulation of non-financial reporting in the Czech Republic as well as overview of previous research on non-financial reporting in this country. The results of the research present that few Czech companies publish standalone corporate responsibility report. More popular is the disclosure of non-financial information within annual financial reports but even this approach is pursued by less than half of respondents. The amount of disclosed information in annual reports is mostly up to 5 pages. 11 companies (10.38%) provide more than 5 pages of environmental information and only 7 companies (6.60%) provide more than 5 pages of social information. In Poland, the requirement to present non-financial information relating to CSR was introducedby the Accounting Act. Public trust entities are required to present in the report on the activities a separate part called “Statement on non-financial information”. In 2017, the Polish Standard of Non-Financial Information (SIN, 2017) was published to help enterprises fulfil their obligations under the EU Directive.

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Derivatives in accounting

Author(s): Katarzyna Czajkowska,Dawid Obrzeżgiewicz / Language(s): English Publication Year: 0

One type of financial instruments are derivatives whose price depends on the value of the underlying instrument. There are two different approaches to accounting of derivatives: general model—in which derivatives are presented as assets or financial liabilities, measured at fair valueand referred to the financial result, and hedge accounting—which requires symmetrical recognition of changes in the value of the hedged item and the hedging instrument. Information on derivatives is presented in the financial statements. The derivative is reflected in the balance sheet of the entity that is a party to a given contract, while the result obtained on the derivative contract is presented in the profit and loss statement.

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Кризата на механизма за сътрудничество и проверка като пример за конструиране на провал в партньорството с ЕС

Author(s): Georgi Dimitrov / Language(s): Bulgarian Publication Year: 0

The Cooperation and Verification Mechanism (CVM) is a key element in the structure of the partnership between the governments of Bulgaria and the European Commission, through which the policies of the European Union are implemented and our country's membership in the union is given meaning. The author clarifies the nature of the CVM and challenges to the successful outcomes of the recent crisis.

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A Comparative Analysis on the Regional Policy and Coordination of Structural Instruments Before and After Romania’s Accession to the European Union

Author(s): Gabriela Motoi,Mihaela Bărbieru / Language(s): English Publication Year: 0

After 1990, on the political and economic scene of Romania took place a series of transformations under European mark, transformations that led to the development of an environment with specific rules and principles of competition and free market mechanisms. As a natural evolution process, it appeared and was developed a new concept related to the regional development policies, a concept that was among the essential requirements of European integration. In Romania, the regional development policy has been early shaped, since 1996, and the chapter of the Acquis on this topic was opened in 2002. There are two types of tools used by the European Union to stimulate and accelerate the process of regional reform. First, the EU has substantial financial instruments to help and facilitate the tasks of national actors on the formulation of the policy agenda in accordance with the requirements of EU reform, the decision-making process and also the implementation. The financial support is achieved through the allocation of pre-accession funds. Secondly, the European Union has also other tools at its disposal for determining the Member States: this is namely the monitoring procedure through the annual reports. This study aims to present the most important issues of regional policy in Romania from two perspectives: the pre-accession period - in which our approach will analyse the legislation and institutional framework for the development and implementation of programming documents, and the post-accession period (after 2007) - in which we will present the most important progresses that Romania has made on regional policy and coordinating of structural instruments.

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Финансовите инструменти – алтернатива за разпределение на бюджета на Европейския съюз през програмен период 2021-2027

Author(s): Roxana Trifonova / Language(s): Bulgarian Publication Year: 0

This report aims to examine the financial instruments’ role in the EU’s budget allocation and to what extent they would become an alternative to grants. For this reason, the study is divided into three parts. The first one gives a brief overview of the main features of the Regional policy and the provision of grants. The second part presents the financial instruments and their mechanism of functioning. The third part analyzes the financial instruments’ advantages over grant funding.

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International portfolio diversification during the Covid-19 onset: A study of correlations among CEE post-transition and developed countries

Author(s): Paweł Śliwiński / Language(s): English Publication Year: 0

Purpose: The chapter examines the hypothesis that during the Covid-19 onset, the higher positive correlations between stock exchange indices persist, preventing the use of international diversification to reduce the volatility of global portfolio. Design/methodology/approach: The study focuses on CEE post-transition countries and their main stock exchange indices’ correlations with developed markets stock exchange indices. The data cover the period starting from January 8, 2004, until the end of October, 2020. The bivariate relationship between stock indices and VIX was measured by the Pearson coefficient of correlation. Findings: The findings of correlations estimation in three periods (long-term, Covid-19 on-set, and recovery) indicate that except for a period of large volatility measured by the VIX index lower relationships between developed and emerging stock markets persist. However, the results of the study concerning the shaping of correlation between the stock indices and the global risk shows a significant negative relationship between them, approaching very high levels close to 1 during the Covid-19 onset. All the CEE stock exchanges – even those low correlated in the longer term – behaved very similarly during the stock exchange crunch with its epicenter in March 2020. Practical implications: The answer to the research questions concerning the shaping of correlations on international markets is important for the portfolio theory itself in its international aspect, but also from the viewpoint of its applicability in practice. Huge market synchronization in terms of comovements in stock indices is troubling. It significantly reduces or even eliminates the benefits of international diversification during market crashes.

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The impact of Covid-19 on the finances of multinational enterprises from the perspective of Balance of Payments transactions

Author(s): Monika Andrzejczak / Language(s): English Publication Year: 0

Purpose: The analysis of the impact of the Covid-19 pandemic on the finances of economic entities from the perspective of the structure of financing, investments and dividend policy. Design/methodology/approach: The research covered the countries of the EU, due to the specific type of ties between these countries. Research stages: 1. Classification of countries in terms of the selected IIP and the BP statistics and macroeconomic data in 2018–2019 (pre-pandemic period), average levels for 2018–2019 in relation to GDP; 2. Presentation of the development of selected monthly BP statistics during the pandemic period (from January 2020), in terms of: (i) changes in the share of GDP (first half of 2020 in relation to the first half of 2019); (ii) year on year changes. Research methodology: data source: Eurostat, annual, quarterly, and monthly data in million EUR, the collected statistics were adjusted to the Harmonised Index of Consumer Prices (HICP). Findings: At the end of November 2020, it is difficult to identify the pattern of changes to the flows of the discussed categories based on the analysis of information from the pre-pandemic period. Practical implications: The creation of a“new” division between the EU countries as a result of Covid-19 may result in a change in the priorities of functioning within the entire Union and in a change in the rules of redistribution of the EU funds. Originality and value: An original way of framing decisions on capital structure, investment decisions and dividend policy through the prism of the Balance of Payments flows.

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