Recent publications
Introduction: The article aims to identify generational attitudes towards appropriate teaching applied to teaching economic disciplines in Bulgaria higher school. The object of research is the students of three generations - X, Y and Z, and the teachers who carry out their education in economics. The research subject is the perceptions and attitudes of students of the three generations - X, Y and Z, and the teaching methods applied for educational purposes.
Methods: A descriptive research strategy was used in the article. Data were collected through an online structured questionnaire survey and processed by rank correlation using Kendall’s tau-b and Spearman methods.
Results: As a result of the research, it is established that there is no dependence between the characteristics of individual generations and the preferred teaching methods.
Discussion: Find that different generational characteristics do not affect ads for acquiring new knowledge and skills during the educational process.
Limitations: Only representatives of generations X, Y, and Z were studied in Bulgaria. The study covers the trainees’ current advertising, taking into account the results that are statistically significant.
Conclusions: The study found no significant differences in learners’ preferences for teaching methods. Therefore, educators can choose appropriate approaches involving interactive video content and smart devices.
The purpose of the article is to assess the extent to which digital transformation policies in Bulgaria are modernized and receptive to new multi-sectoral reform approaches. Criteria were developed to evaluate the alignment of government documents with one or more strategic paradigms. An analysis was conducted on eight strategic documents related to digital transformation in Bulgaria, developed after 2010. This analysis utilized the Grounded Theory Coding procedure for inductive category development and applied codes from the criteria framework. Atlas.ti software was used for textual analysis, which provided quantitative data on the frequency of codes meeting the defined criteria for each strategic paradigm. The initial document evaluation was complemented by a qualitative content analysis to clarify the criterion-based findings and further explore the influence of different paradigms. In-depth interviews with representatives from public sector organizations confirmed and enriched some of the conclusions drawn during the analysis. The study finds that (1) the traditional approach dominated the early strategic documents but was gradually displaced by New Public Management; and (2) the network approach is insufficiently represented in the vision and strategic goals of Bulgaria's digital transformation process.
Innovations are one of the major contributors to economic growth and sustainability, and innovation networks play a crucial role in the development, implementation and diffusion of new knowledge. They form connections between business and academic circles, offer ample opportunities for sharing key recourses, provide diverse knowledge, and facilitate the exchange of ideas. When enterprises participate in the networks, successful and sustainable outcomes are not guaranteed, those depend on many circumstances and have to be earned by proactive and determined actions. The main determinants for the sustainable positive results from the network’s activities are summarized in the paper in four groups: network structure, social capital, geographical localization and academic cooperation, firm’s policy and innovation culture. They could facilitate or detriment the beneficial effects and sustainability, increasing the importance of both organizational commitments through systematic and targeted efforts, and the support of the public authorities, expressed in either various financial instruments, organizational and procurement procedures, or legislative initiatives that help networks to develop an environment for sharing knowledge and innovations, increasing competitiveness, and contributing to the sustainable economic and social development.
Optimising final energy consumption is the key to reducing the adverse impact of human activity on the environment and limiting climate change. The capability of forecasting the energy consumption of the economy of each of the Member States of the European Union is a prerequisite for the development of policies for adequate behaviour in the energy market. This paper aims to evaluate exponential smoothing forecasts of final energy consumption for 27 EU countries using annual time series data from Eurostat’s Simplified Energy Balances for the period 1990–2022. We consider exponential smoothing in its evolution from methods to state-space models, outlining its advantages with respect to forecasting a large number of indicators in a relatively accurate, automated and easy-to-interpret way. We estimate non-seasonal exponential models for 244 time series with maximum likelihood and select the best models based on the corrected Akaike Information Criterion. Further, we diagnose the model residuals with the Box-Ljung test. We compare the forecasting performance of the exponential smoothing models to mean, naïve, drift and auto arima models. We evaluate forecast accuracy using cross-validation on the basis of root mean square error.
The main goal of the research is to study the limitations, deficits, advantages, and potential for innovation in Bulgaria with focus on sustainable development and green models. The study goes through different dimensions of factors such as: availability of favourable infrastructure, the development of innovation activities at the company level, and the achieved results of the innovation activity. By carrying out a comparative analysis, we aim to identify directions for improving the innovation ecosystem. The main result is establishing the key problem areas in the research of innovations in Bulgaria after the country’s acceptance into the European Union especially green and bio innovations and their key role for development. We found that the major implication was the need for targeted and systematic interventions at a high level, including strategic documents that support the creation and implementation of innovations. The research pointed permanent deficits and outlined some positive processes.
Driven by the present worldwide turbulence, this research investigates the consequences of ambiguity and psychological variables on cryptocurrency valuation and artificial intelligence applications in the cryptocurrency market. Results demonstrate that many factors impact cryptocurrency pricing, and artificial intelligence algorithms have the potential to provide an average level of stability. Nevertheless, the interplay among shareholder opinions displayed on various channels has a considerable negative impact on cryptocurrency investment refunds, as this effect is especially noticeable for coins inside the same environment. Furthermore, there may be a considerable dispersion across currencies within the same network when unpleasant information occurs. Given the significant uninsured deficits many crypto traders face during crypto trade, the findings offer vital insights into how investing professionals might build appropriate placement methods aided by artificial intelligence.
Cryptocurrencies are digital assets that are used to store and protect savings. The study examined the cryptocurrency market and analyzed the development of investment. A methodology for researching the crypto-asset market is proposed. The main directions for forming a cryptocurrency portfolio (crypto portfolio) have been identified. Methods for forming an optimal “cryptocurrency portfolio” (hedging) have been studied, including risk assessment in the context of income from cryptocurrency and determining the relationship between profitability and volatility. Crypto assets with the “Proof-of-Work” principle (for example, Bitcoin) as a source of investment for environmental events are acceptable when attracting other financial instruments. The prerequisites for developing the cryptocurrency market as a source of investment in “green” projects have been determined.
Green Deal and achieving its objectives require changes in the development of the construction and real estate operations sectors. There are many reasons, such as the depletion of natural resources, the transition to a circular economy, decarbonization, and the new tax policies. The transition to ecological construction with minimal energy losses and pollution also means higher construction prices. This goal requires compliance with environmental, social and governance (ESG) standards. This would lead not only to a review of the strategies that companies develop but also to a change in their valuation as a whole and the valuation of individual assets. Therefore, there is a constant need to search for opportunities to improve and obtain more accurate and reliable options in the field of business valuation theory in Bulgarian practice. The relationship, the dependence between the prices of residential properties and the factors that influence them, can be presented in mathematical models, and based on them, an indicative value can be derived.
The paper discusses digitising the leading information flows in control
activities. The focus is on applying technology and its integration in
implementing forms of control. The aim is to argue for practical approaches to minimise information risk in pre-ongoing and postcontrol to ensure the accuracy and veracity of financial and nonfinancial information. Evaluating the effectiveness of data ensures integrity, consistency, validity, completeness and timeliness - applying digital risk assessment tools to control activities. To prove the hypotheses, the cross-tabulation method is applied, focusing on the relationship between the use of verification, inspection, audit, revision
and supervision, and the digital tools applied in the control institutions
implementing financial control in the public sector of the Republic of
Bulgaria. The study evaluates the effectiveness of data management
practices, emphasizing the importance of maintaining integrity, consistency, validity, completeness, and timeliness. The study acknowledges that the use of advanced digital risk assessment tools
could improve the effectiveness of control activities in various areas.
The approach supports the sustainability of financial control and is in line with modern management standards, promoting a culture of
accountability and precision in the management of public finances.
The study presents a model for forecasting business risk in organic walnut production. For this purpose, a technology from financial risk management known as cash flow at risk in its variant “Top-Down approach” was adopted. Empirical data from the electronic register of organic farming in Bulgaria were used. A detailed analysis of the organic walnut production sector was made regarding the surface in hectares and the production distribution. The empirical distribution of the area of organic nuts in hectares in Bulgaria shows that small farmers predominate in 2023, with up to 6 hectares representing 55% of all, and those up to 12 hectares are a share of 78%, with the average production per farm will be 1376.53 kg.
With the European Green Deal, the EU aims to implement new growth models that are climate neutral. Industry and ecosystems in the EU are undergoing a rapid green and digital transition. Cooperation between industry, public authorities, social partners, and stakeholders is envisaged in European policies,along the transition path of each ecosystem. In the tourism ecosystem, eco-entrepreneurship plays a crucial role in promoting responsible travel and ensuring the preservation of local ecosystems and cultures. One of the key strategies for eco-entrepreneurs in the travel industry is to constantly innovate and look for new ways to reduce travel's environmental footprint. To achieve the set goals, the EU focuses on the implementation of policies that promote the conservation of natural resources, the preservation of cultural heritage and support for local communities, activities also important for the development of tourism. The aim of the present study is to present the potential of European eco-policies and indicators for measuring the effect of their implementation to achieve the priorities set in European policies and their impact on the tourism ecosystem.
The study determines that in current conditions, innovation is a crucial tool in the competitive struggle that ensures stable and long-term development of the agro-industrial complex. Innovative organizations play a leading role in achieving the goals of the Green Deal. The study aims to establish the relationship between entrepreneurship and innovation in the agro-industrial complex and to substantiate the region's main vectors of sustainable development. Based on a sociological survey, the article monitors the entrepreneurial environment in rural areas of the Poltava region. The findings reveal that 24.4% of rural residents are inclined towards entrepreneurial activities in the agricultural sector (where rural residents would like to start their own business), 20.7% in trade, 14.3% in services, and 5.7% in the restaurant business. Forming a favourable business environment, including institutional, informational, scientific and educational components of infrastructure support, will facilitate the adaptation of business entities to organizational, economic and institutional changes.
In most instances, economic growth is accompanied by heightened emissions. Nevertheless, effective governmental governance can potentially ameliorate the adverse environmental ramifications of economic growth. In this vein, utilizing a case study of Bulgaria, this article seeks to investigate the links between GDP levels, emission levels, and the quality of governmental administration. This study utilizes annual data for Bulgaria spanning from 1996 to 2022. To derive the outcomes, the following methodologies were employed: correlation analysis; logarithmic transformation; Dickey-Fuller test calculation; determination of the first differences of logarithms for non-stationary time series; correlogram construction; Granger causality test calculation; and graphical analysis. The study revealed causal links from RL to CC and from METH to GE in the short term. Moreover, connections were identified from GDP to CC, from RL to CC, and from METH to GE. In the long term, causal links were observed from GE to VA, from PV to CO2E, from PV to METH, from RL to CO2E, from RL to VA, from VA to GE, from VA to GDP, and from CO2E to GE. In all cases, the links were unidirectional. No direct correlation was detected between GDP and emission levels, as well as between GDP and the quality of government regulation in the case of Bulgaria. All computations were conducted using the EViews 12 software.
The study examines the impact of municipal solid waste on the environment and the volume of its formation in the Republic of Kazakhstan. It has been established, that the main component of solid household waste is food (organic) waste, the disposal and processing of which is becoming a relevant and important direction for the development of the waste management industry in Kazakhstan. The purpose of the study was to identify, through a study of potential areas of application of organic waste, the most effective ways of using it, both from the point of view of environmental safety and from the point of view of economic efficiency. The main environmental problem is not only the increase of the amount of waste, but also the absence of its high-tech disposal and processing. In Kazakhstan, a significant part of organic waste as part of municipal solid waste continues to get to landfills, so the landfill is the most common method of waste disposal in the country. Today, there are various technologies for utilization and processing of the organic (food) fraction of municipal solid waste, including biogas production, combustion with energy recovery, composting and others. However, in order to establish a waste collection and recycling system in Kazakhstan, first of all, it is necessary to consider waste as a valuable secondary raw material. At the same time, separating food waste from the rest of the garbage will keep it dry and clean and increase the efficiency of sorting. It was found that recycling organic waste is effective not only from an environmental safety point of view, but also from an economic efficiency point of view.
Agriculture plays a key role in the economy of any state. In Kazakhstan, out of a rural population of 7,444,673, there are 3,573,443 economically active individuals. In Kazakhstan, a total of 1,078,720 people are employed in agriculture, forestry, and fisheries. Of these, 478,366 are wage workers, while 600,354 are self-employed. Rural unemployment affects 4.8%. In 2023, individuals working in agriculture in Kazakhstan earned an average monthly wage of 199,536 tenge, placing them second from the bottom in the income rankings. Despite increasing agricultural output, the wages of these workers are concerning. Consequently, their low and erratic social contributions affect the future quality of social protection regarding old age, job loss, and other social risks.
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