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Jakość respektowania instytucji w krajach posttransformacyjnych

Author(s): Maria Lissowska / Language(s): Polish Publication Year: 0

This chapter intends to comment on the insufficient respect of formal institutions inpost-transition countries. It is very important to distinguish formal and informal institutions,because during the transition to market economy, only formal institutions changed, while informal ones were left unchanged. This situation brought about a potential conflict between the two. We analyze the results of this conflict and the need to enhance the enforcement of formal institutions. Among others, the policy can play a role in this enhancement.

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Konwergencja i dywergencja instytucji państwa w krajach postsocjalistycznych w Europie Środkowo-Wschodniej

Author(s): Bartosz Totleben,Dawid Piątek / Language(s): Polish Publication Year: 0

The chapter addresses the issue of institutional changes in post-socialist countries. Its objective is to present the changes in the levels of political, economic freedom, and governance quality in these countries, and to examine whether there has been convergence or divergenceof state institutions in post-socialist countries in Central and Eastern Europe compared to selected European Union members. A study was conducted using sigma convergence fordata from 1990 to 2022, examining indicators of economic freedom, political freedom, and governance quality. In terms of economic freedom, convergence was confirmed in all analyzed country groups. The direction of political freedom changes was varied. Convergence was confirmed in the Baltic and Southeastern European countries, with ambiguous results for Central Europe and divergence in Eastern Europe. Similarly, changes in governance quality closely mirrored those of economic freedom. Convergence was apparent across all groups within the studied time frame, except for the Central European group. Here, divergence was noted from 2004 to 2022, although statistically insignificant over the entire period.

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Instytucjonalne paradoksy. Dlaczego dobre intencje dają złe efekty w skali państw i przedsiębiorstw i jak temu zaradzić?

Author(s): Jan Polowczyk / Language(s): Polish Publication Year: 0

The main goal of the chapter is to present the concept of institutional paradox. Innovations, hypercompetition and growing social demands create an increasingly dynamic and complex environment. In this situation, the paradox becomes an important concept facilitating the understanding and management of contemporary organisations. Traditional organisation theory assumes that science allows us to objectively discover the truth and formulate recommendations for politicians and managers. The concept of paradox assumes that knowledge and understanding arise from the confrontation of opposing but coexisting dynamic forces in social contexts. Paradox helps in accepting different views and supports tolerance for diversity. The chapter consists of four parts, which present: the concept of paradox, the institutional perspective, the paradoxes of macroeconomic development and the paradoxes of enterprise development.

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Instytucje w aspekcie koncepcji społecznej odpowiedzialności biznesu

Author(s): Grażyna Wolska / Language(s): Polish Publication Year: 0

An effective institutional system has a direct impact on the efficient functioning of the Corporate Social Responsibility (CSR) concept. It also helps reduce uncertainty and disruptions in the flow of information. The aim of the study is to prove that an efficient institutional system determines the optimization of the implementation of the CSR idea. There search methods used in the work are primarily critical literature studies, the hermeneutical method (striving to interpret texts in accordance with the intentions of their authors), logical and semantic analysis, conceptualisation (introducing and defining concepts), the principle of Occam’s razor (simplicity of argument, avoiding issues that are not necessary to solve the problem). The analyses carried out in the text show that effective institutions influence the level of implementation of the CSR idea and that the CSR concept then has a chance to be found not only in the sphere of intellectual disputes, but also in the sphere of interest of representatives of state institutions.

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Impact of AI on the Korean Media

Author(s): James Kang / Language(s): English Publication Year: 0

Korean media emerged in the late 19th century following the introduction of Western newspaper publishing technologies. Despite enduring numerous political upheavals, including Japanese colonial rule, the Korean War, military dictatorships, and democratization movements, the media in Korea continued to evolve. However, the rapid advancements in artificial intelligence (AI) in the 21st century have fundamentally altered the traditional media landscape. This paper aims to analyze the impact of AI on the development of Korean media and explore ways in which both entities can coexist harmoniously.

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Application of Cyber Intelligence for Security Operation Center

Author(s): Nedko Tagarev / Language(s): English Publication Year: 0

Ensuring practical cyber intelligence for a Security Operation Center (SOC) involves collecting, analyzing, and utilizing information about cyber threats to enhance the organization's security posture. This encompasses the gathering and analysis of data on potential and active cyber threats, including Indicators of Compromise (IoCs)" which refer to signs that a security breach may have occurred, while "Tactics, Techniques, and Procedures (TTPs)" refer to the methods and behaviours used by an attacker to carry out a cyber attack and utilized by threat actors. Additionally, it entails the use of advanced tools to monitor networks, systems, and applications for suspicious activities, such as the utilization of Security Information and Event Management (SIEM) systems, Intrusion Detection Systems (IDS), and Intrusion Prevention Systems (IPS). Furthermore, it involves developing and implementing plans to respond to security incidents, including identifying, containing, eradicating, and recovering from cyber-attacks. Regularly scanning systems for vulnerabilities and applying patches or mitigations to reduce the attack surface are also crucial components of cyber intelligence in the SOC. Lastly, monitoring and analyzing user and entity behaviour to detect anomalies that could indicate insider threats or compromised accounts is another significant aspect of effectively integrating cyber intelligence into SOC operations.

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GAP Analyses in Cybersecurity

Author(s): Nedko Tagarev / Language(s): English Publication Year: 0

This article, part of a series on cybersecurity management, addresses the challenge of managing Cybersecurity as a process and a product. It explores the connections between the current situation, standards, and policies for self-control in the cybersecurity work environment while also highlighting the concept of GAP analyses for managing the main threats and defence mechanisms. The article provides practical example that demonstrate the real-world application of these concepts in different organizations, thereby assuring readers of the practicality of the solutions presented. GAP analysis is a commonly employed methodology across diverse fields including business, education, and project management. It plays a crucial role in assessing the disparity between the present state of affairs and the intended objectives. The acronym "GAP" encompasses "Goal, Achievement, and Performance," representing the fundamental elements involved in the analysis process.

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Spectral Analysis the Wave Signal of Electronic Sphygmomanometer

Author(s): Lubomir Lahtchev / Language(s): English Publication Year: 0

The wave signal of electronic sphygmomanometer, recorded in personal computer provides whole information for the wave character of the artery blood flow. The corresponding function can be processed by discrete Fourier transformation described by a mathematic method in the paper. The algorithm consists of reducing the digital function to an acceptable size, discrete Fourier transformation and its graphic presentation. The frequency response covers wide range of the human spectrum and bears specific wave picks at given human frequency components. On their base, a general issue is formulated and suggested.

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A Combination of Investments in Renewable Energy and Heat Pumps in the Private Sector

Author(s): Lesan Timur / Language(s): English Publication Year: 0

In recent years, Europe has faced an energy crisis, in terms of both the energy prices and the availability of energy supplies. The article discusses an example of the implementation of investments in solar panels, as well as a heat pump in a private household, and calculates the return on investment at the current tariff with net electricity metering.

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Possibilities of Applying the Bibliometric Analysis Methods of Scientific Publications on the Relationship Between Climate Change and the Number and Intensity of Forest Fires

Author(s): Tsvetan Tsvetkov,Yasen Tsvetkov / Language(s): English Publication Year: 0

The paper is a logical continuation of a paper presented at this conference in 2022. It shows the results of the bibliometric analysis of a set of scientific publications on the issues concerning the relationship between climate change and the number and intensity of forest fires indexed in Scopus. The objective is to establish some quantitative characteristics of publications and trends in their development. The main analysed indicators are the number of publications on the topic and their dynamics over time, publication activity of the authors, scientific institutions – authors affiliations, number of citations of the publications, and keywords used.

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Analysis on the Applications of Retrieval Augmented Generation (RAG) Architecture

Author(s): Bozhidar Bahov / Language(s): English Publication Year: 0

This paper explores the applications and implications of Retrieval-Augmented Generation (RAG) architectures in various business domains, highlighting their ability to overcome the limitations of traditional Large Language Models (LLMs). Unlike fine-tuning, which demands significant computational resources and struggles with domain-specific nuances, RAG efficiently integrates external knowledge to deliver accurate and contextually relevant responses. The paper discusses the core components of RAG systems, including vector databases and retrieval models, and showcases their practical and business.

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Trends and Opportunities in the Construction Sector in Selected South-Eastern Europe's Countries

Author(s): Tatjana Ackovska / Language(s): English Publication Year: 0

Southeastern Europe (SEE) constitutes a unique geographical sub-region of Europe. This region includes the Balkan countries, which are rich in cultural heritage, historical evolution, and geographical features. The countries in this region have varying stages of economic progress and development. Considering the variations and unique characteristics of the individual countries within the SEE group and whit purpose to provide a comprehensive coverage of all aspects of the construction sector, this paper focuses on the specificities, structure, development, and future trends in the construction markets of subset of nine SEE countries

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Euro Area Membership Effects on Inflation

Author(s): Avi Tahchieva / Language(s): English Publication Year: 0

The inflation rates and their convergence within the Euro area were a major concern even before the advent of the single currency. The study attempts to examine the main factors of inflation and differentials in members of the Euro area for the period 2007–2022. The search for the causes of the current high inflation starts with the consequences of the Covid-19 pandemic. The global economy recovered fast once the pandemic ended and the restrictions on consumption and travel were lifted. Then conflict between Russia and Ukraine caused energy and commodity prices, including food prices, to increase. The differences between the inflation rates in the various countries of the Euro area first started to widen in 2020 when the pandemic caused stronger disinflation in countries that have large tourism sectors. As the pandemic faded, inflation picked up most in countries where the economy had declined less and where labor shortages were starting to put pressure on wages.

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The European Central Bank at 25: Effectiveness of the Monetary Policy

Author(s): Dimitar Chobanov / Language(s): English Publication Year: 0

25th anniversary of the European Central Bank is the occasion for an assessment of its monetary policy. Maintaining the price stability is the main objective according to the ECB statute. However, changes in economic conditions led to unconventional measures and additional objectives like financial stability.

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Analysis of the Inflation Processes within the European Drug Market

Author(s): Valeri Minchev / Language(s): English Publication Year: 0

In this research, we focus on the influence of prices, signified through inflationary processes, and their impact on the price levels of drugs. For this purpose, the situations within the European wholesale and retail drug market is studied, data related to the changes in the price levels of drugs is analyzed in a dynamic order, within the selected period 2011-2021, in order to highlight the trends of growth. The change in the purity/potency of drugs and the dependence of price levels on it is also studied. For this purpose, the price indexes of drugs are adjusted with the price/potency indexes. It was found that in general the price indices decreased, the purity/potency indices increased and accordingly the price index adjusted with purity/potency index decreased to a greater extent than the price indices.

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Inflation or Deflation? Chinese Economy in 2023

Author(s): Shouyi Zhang,Guangxing He / Language(s): English Publication Year: 0

In March 2023, data released by China's National Bureau of Statistics showed that the growth rate of CPI narrowed and the decline rate of PPI widened from the previous. The downturn in price data triggered market discussions about economic "deflation". After a retrospective study of Chinese economy since 1980, we do not think that the downturn in price data is the start of economic "deflation", but rather the early stages of recovery after the end of the three-year epidemic.

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Impact of After Covid Inflation on Investor Protection

Author(s): Diyana Miteva / Language(s): English Publication Year: 0

The after COVID inflation that started in the late 2021 seriously affected all EU economies. This paper aims at investigating how inflation impact the value of client assets invested on the capital market. It also concerns the issues of investor protection of such assets. Inflationary periods are stressful for the whole economy and especially for consumers. The longer inflation lasts the more significant impact it may have on investor behavior. In this paper it is argued that on a short term basis inflation could not be compensated at stock market prices but on a long term the capital market stock market returns overwhelms inflation. Investor protection regards the financial safety net which includes deposit guarantee and investor compensation schemes, which provide protection to investors at European level. Investor compensation schemes have not increased the level of protection for decades which due to the higher inflation rate causes a decreasing real protection. Deposit guarantee schemes on the contrary have imposed very high limit of protection in 2009 and 2010 which is 5 times higher than the minimum required limit on the EU level.

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Inflation and Defined Contribution Pension Schemes in Central and Eastern European (CEE) Countries

Author(s): Jeko Milev / Language(s): English Publication Year: 0

Pension systems in most of the CEE countries were significantly reformed at the beginning of 21st century. The introduction of fully funded components in addition to the traditional pay-as-you-go ones marked the beginning of a completely new age in the development of the pension systems in the region. The basic goal of the current paper is to research the investment performance of the defined contribution pension schemes in several CEE countries – Estonia, Slovakia, Romania and Bulgaria. The thesis defended throughout the article is that conservative types of investment portfolios for long term investors such as pension funds are not appropriate especially under scenario of significant inflation rate. The results of the research show that those countries where pension fund managers were allowed to structure portfolios with different risk profile have much higher chance to protect the savings of insured individuals in real terms in prolong period.

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Big Data, New Advanced Analysis Tools for Researchers: The Case Study of Forecasted Volatility of the Use ESG Bonds

Author(s): Sarah Goldman,Virginia Zhelyazkova / Language(s): English Publication Year: 0

The aim of this work is twofold. Firstly, we search to clarify the notion of Big Data (BD) and demonstrate that the taxonomy constitutes one of the fundamental tools to portray the BD characteristics. Secondly, we have shown that the traditional analysis instruments are now relatively obsolete to integrate such outstanding amount of data; consequently, new advanced analysis tools are recommended. Based on a neural network approach, we have found that this methodology improves the forecasting results of high volatility assets compare to a basic GARCH model.

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Asymmetric Rivalries: The Case of Lebanon’s Financial Crisis

Author(s): Hachem Hicham / Language(s): English Publication Year: 0

Unlike mainstream explanations, this paper is less concerned with the causes of the financial crisis in Lebanon as much as it raises the problem of adverse relationships between institutions of money creation and destruction. The analysis builds on the theoretical approach of mimetic rivalries and applies tools from graphical models in games theory. It aims to study the sensitivity of solvency constraints to explain asymmetric relationships. The applied case of Lebanon shows two relevant results (1) asymmetric relationships between economic agents and (2) top-down dynamics of money creation and destruction. These findings imply an institutional model of extractive economic policy dominated by strategies of vindication and rivalry.

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