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Dilemmas of organising public transport in COVID-19 and post-COVID-19 times

Author(s): Marcin Jurczak / Language(s): English Publication Year: 0

Purpose: The chapter aims to identify the most important challenges related to public transport organisation during COVID and post-COVID times. The author asks several questions: How have the restrictions affected (and still affect) public transport? Can economically efficient public transport services be offered in COVID and post-COVID times? And finally: Is public transport safe for users, and will it be safe in the future? Design/methodology/approach: The chapter is based on the literature review and examination of selected case studies. The analysis is carried out in urban transport, regional and interregional rail transport and international transport (particularly air transport). Findings: The chapter specifies the “dilemmas”, of which the most important is a contradiction between the essential requirement for the operation of public transport (to transport many people in a small space) and the basic principle of minimising the increase in COVID infections (the avoidance of large crowds of people). Research limitations: Quantitative methods could further develop and confirm the study. Practical implications: The chapter diagnoses the main challenges related to the organisation and operation of public transport systems in (socially and economically) uncertain times that lie within areas of interest of both managers and local government authorities. Originality and value: The study contributes to the ongoing discussion on improving publictransport.

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Firm capabilities, export diversification, and crisis affectedness: A study of Polish exporters during the COVID-19 pandemic in 2020–2021

Author(s): Marian Gorynia,Piotr Trąpczyński / Language(s): English Publication Year: 0

Purpose: This chapter investigates the factors influencing a company’s vulnerability to economic crises, particularly focusing on the role of firm capabilities and export diversification. In light of the unprecedented COVID-19 pandemic, the study explores how these variables interact to shape a company’s resilience in the face of crisis. Design/methodology/approach: This study utilises primary data collected from Polish exporters in 2022, allowing for a retrospective analysis of the COVID-19 pandemic’s impact. Drawing on the resource-based view and firm internationalisation theories, the research formulates hypotheses concerning the relationships between firm capabilities (marketing and technological) and crisis affectedness, moderated by export diversification. Findings: Both marketing and technological capabilities have a negative impact on a company’s vulnerability to economic crises. However, this effect is more pronounced for companies with lower export diversification. In contrast, highly diversified exporters show reduced sensitivity to firm capabilities in mitigating crisis affectedness. Research limitations/implications: This study focuses on Polish exporters in a post-transition economy, which may differ from firms in other economic contexts. Additionally, the research explores a specific crisis, the COVID-19 pandemic, and its effects on export-oriented companies. Further research is needed to generalize these findings to other crises andregions. Practical implications: The findings suggest that companies should invest in marketing and technological capabilities to enhance resilience during crises, especially if they have a limited international diversification strategy. Highly diversified exporters may need to balance their focus on capabilities with broader market approaches. Originality and value: This research contributes to the understanding of how firm capabilities and export diversification interact to influence a company’s vulnerability to economic crises, with practical implications for exporters navigating turbulent times in a globalized world. The study sheds light on the complexities of resilience-building strategies in post-transition economies and underlines the importance of adaptability in international business.

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Factors influencing consumer trust in sharing economy platforms—a comparative study of Polish and Moroccan consumers

Author(s): Wiktoria Rakowska,Zakaria Talouni / Language(s): English Publication Year: 0

Purpose: The study aims to define the significance of trust and identify consumers’ trust-building factors in sharing economy platforms in two different cultures. Design/methodology/approach: The study used a narrative literature review and exploratory primary qualitative research—focus groups, providing an in-depth insight into the perception of trust in the sharing economy in Poland and Morocco. Findings: Eight factors are crucial in the trust-building process toward sharing economy platforms. For Polish consumers, functional elements such as customer service or service provider reputation standards are critical in building trust, unlike Moroccans, who value the platform’s reputation the most. Research limitations: The study’s focus group size and the possibility of being influenced by other participants’ responses may limit the generalizability of the results. Practical implications: The research stresses the importance of the cultural context in the trust-building process. It may help the sharing economy platforms to customise their offers for consumers coming from different cultural backgrounds, gain their trust and make them feel secure. Originality and value: The study provides new insights into consumers’ perception of trust determinants in two different cultural contexts and contributes to the ongoing discussion on the importance of trust in the sharing economy.

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Енергийна трансформация в транспортния сектор – проблеми и проекции в контекста на възстановяването от пандемията от COVID-19

Author(s): Hristina Nikolova / Language(s): Bulgarian Publication Year: 0

The transport sector is the most affected by the impact of the pandemic COVID-19 on a national and global scale. In this regard, the present report offers a comprehensive analysis of the impact of the pandemic on resilience of the development of this sector. Based on this analysis, possible recovery measures in the context of the new energy transition policies formation. That is why the main objective of the research presented in the present report, is to offer options for a sustainable recovery of transport after the COVID pandemic, which will contribute to the realization of an energy transformation of the sector.

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Енергийната сигурност на Европейския съюз в условията на криза

Author(s): Evelin Videnov / Language(s): Bulgarian Publication Year: 0

This article examines the concept of European energy security in the crisis management and defines short-term and long-term measures to solve the defined problems. The conclusion is that swift action must be taken measures to complete a fully functioning European energy market. Finding solutions for the supply of energy resources from other suppliers and the quick transition to the utilization of energy from renewable sources. At the moment, the European Union is well prepared to meet the challenges that come their way.

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Предизвикателства пред кръговата икономика в страните от Латинска Америка

Author(s): Vesselina Dimitrova / Language(s): Bulgarian Publication Year: 0

The paper identifies some recent studies and examples in the context of circular economy in Latin American countries, for example Columbia, Brazil, Mexico. The paper provides mapping of interest in sustainable innovations, corporate social responsibility, green supply chain and all other aspects relative to Sustainable Development Goals in Latin American countries, including also the sustainable recovery after Covid-19. The analysis of the existing literature confirms the necessity to improve sustainability pillars in Latin American business into economic, environmental and social directions.

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Устойчиво бъдеще: предизвикателства и възможности за българските фирми

Author(s): Daniela Tzvetkova / Language(s): Bulgarian Publication Year: 0

The purpose of this article is to examine some new trends in the integration of ESG goals for sustainable development in companies’ practices. Some quantitative and qualitative indicators of sustainable development are considered. The focus of the report is the challenges and opportunities for Bulgarian companies to achieve sustainable development. From 2024 ESG becomes mandatory for certain companies in the EU and in Bulgaria, which will have to submit non-financial information in the form of a report on their application. For now, these changes concern large corporations, but it is expected that within two to three years, they will become mandatory for SMEs as well.

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Агностичен подход за оценка на макроикономическите ефекти от инструментите на ЕС в България

Author(s): Ivaylo Beev,Ivan Todorov / Language(s): Bulgarian Publication Year: 0

The study analyzes one of the most discussed issues concerning EU cohesion policies and, in particular, the macroeconomic effects these policies have on the development of the Bulgarian economy. A central focus of the report is the quantification of the multiplier of expenditures co-financed by the EU. The results indicate that the crowding out effects and the lack of additionality among national policies limit the multiplier coefficient for each 1 BGN spent to around 0.3-0.4. This estimate is lower than the alternative macroeconometric approach (SIBILA 2.0) currently used by public institutions.

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Приемане на еврото – нови възможности за българската икономика

Author(s): Betina Minkova,Vesselina Borisova,Gabriela Dimova / Language(s): Bulgarian Publication Year: 0

The following research is a brief review on the topic of the consequences of the adoption of the Euro for the Bulgarian economy. Using three argumentative pillars, the authors examine the main arguments for changing the country’s national currency, which, according to the report, would result in more opportunities to attract investment, international exchange and economic growth. The good practices of the accession of Lithuania and Croatia to the financial structure of the Eurozone were examined, and acute macroeconomic turbulence was not registered in either country.

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Polityka stóp procentowych NBP a stopy zwrotu z sWIG80 i WIG20 w latach 1995–2023

Author(s): Eryk Łon / Language(s): Polish Publication Year: 0

Purpose: The aim of the chapter is to answer the question of whether the NBP interest rate policy has an influence on the rates of return on the sWIG80 and WIG20 indices. The chapter examines what rates of return on both stock exchange indices can be expected in periods of expansive and restrictive NBP monetary policy. Methodology: The chapter uses selected tools of quantitative methods as well as structure analysis tools, including the arithmetic mean and median. These methods make it possible to assess the connections between monetary variables and the situation on the Polish stock market in the segment of small and large companies. Findings: The chapter creates two investment strategies: playing on the increase of the stock index and playing on its decline. The former strategy is worth using in periods of expansive NBP monetary policy, whereas the latter in periods of restrictive NBP monetary policy.

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Systemy gwarantowania depozytów a stabilność finansowa w świetle doświadczeń okresów niestabilności systemowej z 2008 i 2023 roku

Author(s): Ewa Miklaszewska / Language(s): Polish Publication Year: 0

Purpose: The experience of systemic instability in March 2023 showed that a high level of retail deposit insurance is not sufficient to preserve financial stability, triggering reflection on the need for a new deposit protection policy. Therefore, the purpose of the chapter is to analyse the work currently underway, particularly the reform proposals published in 2023 by IADI, FDIC and the EC. Methodology: The chapter includes a literature review of deposit insurance schemes and a critical assessment of current proposals for their modifications. Findings: The chapter develops the claim that, given the current characteristics of financial markets and accelerated technological development, it is necessary for the preservation of financial stability to expand the scope of deposit guarantees, covering both a larger group of eligible entities and types of accounts, including addressing the problem of large deposits.

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Is There a New Momentum for the Development of the Euro?

Author(s): Kaloyan Simeonov,Slaveya Vasileva / Language(s): English Publication Year: 0

After the establishment of the euro in 1999, the single currency became the second most important currency in the global markets. However, the euro has never been the single currency of the whole EU as there are always Member States of the Union that do not belong to the Euro Area. In the paper we will argue that there is a new momentum for the development of the euro both internally at EU level and globally. The internal development of the Euro Area has two main dimensions – current Euro Area enlargement as well as financial and EU economic reforms that are targeted specifically to the Euro Area. The global development of the euro is linked with the current global political and economic challenges. Last but not least, the development of the digital euro will also increase further the role of the single currency inside and outside of the EU.

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Local Government in Albania, The Effects of Fiscal Decentralization

Author(s): Selma Binjaku,Shkëlqim Fortuzi / Language(s): English Publication Year: 0

Fundamentally, decentralization represents a democratic restructuring endeavor that seeks to transfer political, administrative, financial, and planning powers from the central government to local authorities. Its aims encompass boosting civic engagement, bestowing decision-making authority upon local communities, and fostering accountability and dependability. The overarching objective is to optimize the efficiency and effectiveness of resource collection, administration, and service provision. My interest in comprehending the evolution of our country’s decentralization initiative has driven me to delve into the subject of fiscal decentralization. This process entails endowing local governments not only with the entitlements arising from this empowerment but also the corresponding responsibilities that accompany it. Before and after decentralization, there are several stages that can be observed. These stages typically involve policy formulation, legal reforms, capacity building, fiscal transfers, and institutional adjustments. By analyzing key indicators, we can assess the impact of decentralization on various aspects of governance. The aim of this work is to take into consideration recent developments, both within the framework of central-level reforms and the work of local self-government bodies, primarily focusing on the period from 2005 to 2021. The work is primarily based on analyzing the findings identified from the following sources: Primary data collected through questionnaires administered to citizens, Accountancy Experts, and Businesses. Research from various reports, publications, or articles prepared as part of projects or activities of various public institutions operating in the field of local governance. Previous reports and analyzes on territorial-administrative reform have been conducted by national and international institutions, and their findings have been extensively used in the preparation of this work.

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International Business in the Fragmentation and Transformation of the Global Economy

Author(s): Iliyan Sarandaliev / Language(s): English Publication Year: 0

Multinational companies, which plan to continue their work in confronting countries, should adapt their activities in order to meet the requirements of the various markets in which they operate. The process of fragmentation and transformation of the global international relations sharply increases the political risk, which is substantial part of the overall risk structure of the multinational companies. The purpose of this research is to derive an up-to-date definition and manifestation of political risks as a major risk affecting the activities of the multinational companies in contemporary conditions. The methodology of the research is a desk research and analysis of the existing papers, related on political risks for the recent years. The conclusions include summary of the main reasons increasing the political risks for the multinational companies, as well as the main forms of influence and appearance.

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Studying the Functioning of International Trade Chains for Fast-Moving Consumer Goods in Different Markets

Author(s): Tonya Petrusheva / Language(s): English Publication Year: 0

The intensive development of the processes of internationalization and globalization has a direct impact on the economies of all countries around the world, including and the FMCG sector. In this regard, the expansion of international trade chains and their role as active participants in the value chain is considered. The main goal of the current research is to follow the implementation of the commercial policy of the international trade chain “Lidl”, and its operation in the markets of Bulgaria and Finland. To achieve this goal, the following research tasks are set: to make an integrative review of the literature on the nature of trade chains; to clarify the role and importance of the FMCG sector as the most dynamic and competitive; to compare and analyze empirical data of the achieved results in the two countries in question. The main methods used in the report are: observation, induction, deduction and comparison, and the research will find applicability in the field of international business. The conclusions show certain similarities, but also differences regarding the commercial policy implemented by “Lidl” in the markets of the two countries.

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Sustainable and Inclusive Transformation of the Bulgarian Rural Areas: Challenges and Prospects

Author(s): Svetlana Aleksandrova-Zlatanska / Language(s): English Publication Year: 0

The European Green Deal, the “Farm to Fork” strategy, the Long-Term Vision for EU Rural Areas - 2040 are key strategic documents that set out the goals for improving the economic and social well-being of people and for the efficient use of natural resources in rural areas. The processes of urbanization and deterioration of the demographic structure in rural areas deepened the regional imbalance in Bulgaria. Consequently, there is a need to change the traditional model of development to a new one based on digital technologies. The aim is to analyze the extent to which the goals for sustainable, inclusive and carbon neutral development of rural areas can be achieved in Bulgaria.

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The Transformation of the Business Model in the Process of the Transformation of the Economic System on the Road to Sustainability: European Perspective

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

This paper examines the transformation of the business model in the process of transformation of an economic system on the road to sustainability. The objective of the paper is to prove the transformation of the business model of companies in EU Member States due to the establishment of the new regulation framework on sustainability. The author’s previous researches on corporate governance and sustainability, sustainable Global Value Chains and corporate sustainability,2 as well her personal involvement in various consulting activities gradually determined the abovementioned topic of investigation. Although it was established that a limited number of scholars study the above phenomenon some findings in their publications have enabled the development of a conceptual framework of this paper. The first part the paper encompasses the results of the literature observation. The focus of the second part is on the EU regulation framework on sustainability. In the third part of the paper the transformation of the business model is analysed. Through the lens of good practice, some very interesting findings are revealed. The conclusion includes the findings of the study, the author’s contribution and the path for the further study.

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Bulgaria‘s Investment and Trade Position in 2023

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

The paper explores the investment and trade position of Bulgaria in 2023. It analyzes its investment climate, trade position and dynamics, and conducts a SWOT analysis of the Bulgarian investment climate. The author also discusses the potential for increasing foreign direct investment (FDI) in the country. By analyzing these aspects, the research paper aims at providing a detailed insights into Bulgaria’s economic prospects and opportunities for both domestic and international investors. The methodoly includes descriptive and comparatable analysis, statistical data analysis and desk research of acknowledged international rating concerning investment climate.

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Promotion of Cross-Border Commercial Mediation

Author(s): Nedyalka Alexandrova / Language(s): English Publication Year: 0

The report argues the benefit of using mediation as an alternative dispute resolution form in international business, but also as an underlying conflict resolution tool. The main international initiatives aiming rising in mediation attractiveness and promoting its application are summarized. As a main obstacle is shown the lack of an effective possibility of enforcement the mediation agreements.

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Cross-Cultural Marketing Strategies: Bridging the Gap in International Management

Author(s): Brunela Trebicka / Language(s): English Publication Year: 0

This paper examines the role of cross-cultural marketing in international management and marketing, focusing on understanding consumer behavior and brand perception in diverse cultural contexts. Drawing upon the literature in the field, the study investigates the impact of cultural dimensions on consumer preferences, purchasing decisions, and brand perception. It explores effective strategies for adapting marketing efforts to accommodate cultural differences and foster customer engagement in international markets. The research employs a mixed-methods approach, combining quantitative surveys and qualitative interviews with marketing professionals. The findings emphasize the importance of aligning marketing communications with cultural values, employing localization strategies, and building authentic and emotionally resonant connections with consumers. Practical implications and recommendations are provided for firms operating in international markets. This research contributes to the existing body of knowledge on cross-cultural marketing and provides insights to enhance marketing strategies in diverse cultural contexts.

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