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The article studies loans in the Bulgarian banking system in the period 2011 – 2015. The overall levels of loans, especially “problematic” loans over 90 days expiration, are analyzed. The publication focused on the problems of credit risk assessment, including the provision (depreciation) of assets.Key words: banks, loans, credit risk, provisioning (depreciation).
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Motivation is a key element in the process of achieving organizational goals and therefore current cadets as future officers and future military leaders should be familiar with the needs of their subordinates, so to use and apply different motivational techniques to increase the level of their own motivation and motivation of their subordinates in reaching a high professional performance. The paper presents research on necessity and relevance of the problem of studying motivation in military formations of the example of the Nicolae Balcescu Land forces Academy, Sibiu, Romania and Vasil Levski National Military University, Veliko Tarnovo, Bulgaria as well as research on motivation for education and military activities in military formations of the example of the Vasil Levski National Military University, Bulgaria.
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Ethical behavior in business enables a seamless and efficient functioning of the economy. The nature of the accounting profession requires a high level of trust and ethical conduct. The financial scandals, which burst out, have undermined this trust. Nowadays its grounds are being rebuilt through government regulation and university education of future accountants in ethical conduct.
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The paper discusses new trends in management practices. Emphasis is made on the necessary change in the management thinking to meet adequately changes in the globalized world. It provides information about STOOS global movement and its ideas. The development explores some of the new methods of management, which are used in Bulgaria.
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Corporative social responsibility is concept, which stands for the relationship between organization and society, reflects the combination of the organization’s decisions, adjustments and actions and also it is part of the business’s contribution orientated to sustained development and prosperity. It is being accepted as a form of corporative strategic management, regulating the relationships between the firm and its surrounding. When we define the corporative social responsibility’s nature, there are different formulations and definitions and the thing in common among them is the responsible obligation of the business to contribute for sustained economic growth, labor relationships with workers and their families, local community and the society in general for improving the quality of life. In this article is being posed substantial accent over the genesis of the conception for CSR and its transformation into successful business strategy for sustaining development, its manifestation and particular practices for socially engaged behavior.
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The article discusses diversity of situations that arise in organizations. Мajor emphasis on diversity in behavior in interpersonal relations. Consider the impact on the organization as a problem or an opportunity.
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Franchising is one of the fastest developing forms of business which offers opportunities for quick growth and granted earnings. This article presents the classical franchise theories that address the issues related to franchising and the establishment of a franchise system. The main reasons and the possible effects for the increased application of franchise businesses by entrepreneurs are explained in this study.
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Nowadays, significant transformations are observed in the sphere of finance as a system of specific relations, policy, and scientific field. This research is focused on the impact of the dynamic concept of sustainable development in finance. The purpose is to examine the changes occurring in finance in their different aspects under the influence of the sustainability paradigm, and to present the author’s vision of their nature, scope, and contemporary challenges. To achieve this goal, a critical analysis has been carried out of supranational strategic documents and agreements, scientific publications, business regulations and practices. It has been proven that sustainable finance is not a separate field or element of finance, but a new stage in the development of the financial system, policy, and science.
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This study examines the impact of cross-border investments, which comprised of foreign direct investment (FDI) and foreign portfolio investment (FPI) on industrial performance in Nigeria using time series data for the period 1988-2020 sourced from the World Bank. The study adopted Augmented Dickey-Fuller (ADF) test, co-integration techniques, Granger causality test, and Error Correction Model (ECM) as methods of data analysis. The findings of the study revealed that FDI had a weak negative effect on industrial development in Nigeria while FPI had a positive significant effect on industrial performance. The study also revealed that the exchange rate had a weak negative effect on industrial performance. The study, therefore, recommends that the government of Nigeria should employ tax incentives to discourage the repatriation of profits (earnings) by foreign investors and strengthen the quality of education to boost human capital in order to realize the positive spillover effects of technology and capital transfer by foreign investors. It also recommends that the demand for foreign currency should be reduced by placing an embargo on imported raw material and used items from abroad among others as well as developing the agriculture and manufacturing sector to produce imported items and more export-oriented to generate greater foreign earnings to sustain the stability of the naira.
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In this paper investigates the traces of financial institutionalization in early Christianity with a focus on halalization (secularization) of the concept of interest. Secularization is being discussed in the context of monasticism since the period in focus is early Christianity. In the study, monasticism is classified into three types: Classical, Cenobitic, and Benedictine. For its research purposes, the study employs qualitative methods like using a case study design. In addition, primary and secondary sources are reviewed to obtain data. Later, this obtained data is analysed through descriptive and process analyses. The role of interest in Classical Monasticism is analysed through descriptive analysis, which ascertains that there was a parallelism between the increase in organising based on an economic mentality and the secularization of interest. Moreover, it is discovered that there were organizational forms with a tendency towards institutionalization. These were mainly: (1) organizational forms regarding the division of labour and specialization that were surrounded by some regulations and (2) organizational forms that laid the foundation for the modern (secularized) concept of interest which became the time value of money when a socio-temporal order was established.
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The work presents the current position and projections regarding to carrying out the economic policy in the years to come. Besides the moves done, Serbia is still faced with big challenges and the necessity of basic re-formulation of its economic policy. As for the trends of key macroeconomic performances officially said from the Government circles, optimistic prognoses and satisfaction by the accomplishments are regularly reported but independent economic experts critically disassociate themselves from it and accept estimates with a reservation that are often offered with a view of political marketing.
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It is certain that every enterprise will in certain period and in a way face a treath of crisis or even „get into” one. The question is how to overcome the state of crisis or even better, how to prevent such situation. The key is in hands of people who manage the enterprise. Their ability to perceive external as well as internal events within the company that indicate potential crisis is a secure barrier to the virus of crisis. Small and medium companies are much more exposed to a crisis than big ones due to many factors such as lack of cadres, small producion lines, indebtedness, lack of turnover assets and a number of other reasons, thus the consequences that such company suffer are much more radical than those to companies that can be characterized as big based on sertain criteria. It is therefore essential to follow the development of the environment, first of all the competition, as well as to survey internal economics with a special emphasis on internal relationships within the company and the absenteeism. Any crisis causes negative consequences to an enterprise. However, it is our duty to prevent the enterprise from getting into a phase of acuteuncontrollable crisis when collapse is inevitable. Such consequences are not only disastrous to the company itself, but to the executive whose careers are undoubttedly questionable. The stakes are big. The risk must be controlled not to become a gambling where there is no option of foreseeing the certainty of future development.
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Because of the budgetary limitations the Republic of Srpska is faced with, there ought to be an approach to practicing innovative management of public finances, such as public-private partnership as a non-fiscal instrument in the financing of public needs. Anti-recessional actions are pointed towards short tearm and long term activities whose goal is economical growth, infrastructural development, reaching social objectives and giving better public service to the citizens. A restricted budget cannot provide with these means, despite the reduction it pays for government administrations and material proceedings. In the aim of overcoming the differences between public resources at hand and the necessary capital for investments, the government is approaching partnership between public and private sectors more often. The model in which the public and private sectors act together and in harmony has a contract or institutional form, which offers an innovative and dinamic approach to managing risks and uncertainities that follow long-term investments. Public - private partnership is a common name for different types of partnership in the realisation of projects, defined by complex contracts. This way of including the private sector in financing, projecting, constructing and managing public sector projects is a complex process that lasts longer than the traditional. The initial expenses of preparation and planning are much greater for all involved. On the other hand, the pros offered by the lightening of the operating budget of the state and the decrease of risk to the public sector, make public - private partnership an acceptable instrument for financing projects of public value.
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Emergence and development of financial crisis which turned into economic crisis have caused deeper analysis of rules of financial reporting from professional public and politicians. International bodies for accounting standards IASB and FASB as an answer to the crisis have accelerated the adoption of the unique set of comprehensible and applicable standards of financial reporting. The concept of fair value has been especially under criticism. This paper analyses consequences of application of mixed concept of fair value in financial crisis. Particular attention is drawn to the application problems of fair value in inactive and illiquid markets, the impact of fair value on pro-cyclicality of the financial markets and manifested volatility of financial reports.
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Under the conditions of imperfect market, the role of the state in economic development of a country is unavoidable. In this process, the state uses various instruments and applies various measures. Fiscal policy, i.e. public finance management, is one of the very important instruments. The manner of acquisition, allocation and spending of budget funds can impact to a great extent the entire economic development of a country. All countries are endeavoring to establish the models of optimum taxation on the one hand, and of efficient use of budget funds on the other. Due to the specificity of each national economy and different goals set, each country must develop its own models, but it must not neglect some basic principles whose application in practice of successful economies has had good results.
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Contemporary processes of globalization and internationalization of national economies, as well as strengthening of trends of integrations on a regional scale mean that some huge infrastructural investments are necessary, especially those in the areas of transportation, energetics, telecommunications, water supply etc. Large-scale investments require enormous funds, which are not at disposal for many countries. In the first place, we are talking about underdeveloped countries, as well as those undergoing the process of transition. In order to provide investments in the aforementioned infrastructural areas, these countries are in demand of foreign capital, which gives way to making a concessionary arrangement as a very appropriate form of engaging private funds of foreign (and domestic) capital. The paper deals with some basic aspects of concessionary arrangements, which can be of significance for realization of basic objectives of the socio-economic development country contributing to its more successful fitting into contemporary integrative trends.
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The formation of European Monetary System and intoduction of euro as a common European currency have the main and even crucial role in establisching the steady integration structure of European Union. The aims of EMS and its surrency, euro, are to provide stability in Europe with low rate of inflation, to improve economic cooperation among its members and to keep down the negative effects of foreing economic-political shocks, due to frequent and excessive fluctuation of American dollar. Bringing euro into the world scene has not economic but political dimension as well. The success of euro will determine the future of Europe in the world economic and political relations during the XXI century. Euro leads European Union in the world scene and in the best way shows that EU connot play the role of a „economic giant” and a „political dwarf” at the same time. (Helmut Schmit, the former German Chancellor).
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Although many competitors have always coexisted in the wealth management business, large banks are usually the dominant market player. It is difficult to refute this claim today, but it is a fact that in the last decade there has been a serious shift in the industry. An additional catalyst for this proccess is the Covid-19 pandemic. This change is mainly embodied by the renaissance of the business models of some of the traditional market participants (boutique private banks and family offices) and the emergence of new competitors (WealthTech companies). The aim of the author of this article is to present the competitive landscape in the segment "Private Banking and Wealth Management", focusing on the drivers of its gradual transformation, as well as the strengths and weaknesses of leading market participants.
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