Year 2017, Issue 4

Date published

14.12.2017

CONTENTS

  • Emil Denchev
    THE DEVELOPMENT OF A MODEL FOR THE CONSOLIDATION OF INFORMATION IN SMALL AND MEDIUM-SIZED ENTERPRISE (SME) CLUSTERS
    Abstract: The aim of this study is to improve the level of information support of a cluster by developing a model of an ERP system that consolidates information at the cluster level. The research tasks are: - a survey of the clusters, members... The aim of this study is to improve the level of information support of a cluster by developing a model of an ERP system that consolidates information at the cluster level. The research tasks are: - a survey of the clusters, members of the Association of Business Clusters (ABC) in Bulgaria, analysis of the results of the survey and drawing of conclusions for the identified information support problems, analysis of the alternative solutions of the information problems, development of a conceptual model of an ERP system, development of a universal software model and software module for generating consolidated information. The model is approbated using the MS Dynamics Navision ERP system. The proposed solutions allow consolidation of cluster-level information, either horizontal or vertical, for the needs of cluster management.
  • Plamen Patev, Kaloyan Petkov
    SIGNIFICANCE OF THE PORTFOLIO SCOPE FOR IMPROVING THE RESULTS OF THE ACTIVE PORTFOLIO MANAGEMENT FOLLOWING THE EXAMPLE OF THE EMERGING STOCK MARKETS IN SOUTHEAST ASIA
    Abstract: Active portfolio management is widely used in investment practice with the goal of securing better performance results from the investment process. Active portfolio management has gathered significant attention from both academics... Active portfolio management is widely used in investment practice with the goal of securing better performance results from the investment process. Active portfolio management has gathered significant attention from both academics and practioners. Our goal is to investigate the class between two competing ideas. On one hand increasing the Breadth of the portfolio we should have bigger diversification effect. On the other hand increasing the number of assets (Breadth) should lead to smaller forecasting ability and therefore lower . Presented results show that our first hypothesis is confirmed increasing the number of assets in the portfolio magnifies the effect of the active management. Additionally we show that when managers increase their Breadth, they increase not only IR, but also manage to decrease which shows better stability of our forecasting skill through time.
  • Maryna Karpitskaya, Yulia Krupenko, Pavel Barysenko
    TRENDS IN THE REINSURANCE SECTOR IN THE CONTEXT OF FINANCIAL INTEGRATION
    JEL: G22.
    Abstract: The article deals with the problems of insurance integration processes in the EAEU. The strategic directions of state regulation of the reinsurance market of the Republic of Belarus have been identified. It is determined that there... The article deals with the problems of insurance integration processes in the EAEU. The strategic directions of state regulation of the reinsurance market of the Republic of Belarus have been identified. It is determined that there is no a single legislative act regulating reinsurance activities in Belarusian legislation. State regulation of reinsurance relies on the current insurance legislation. The analysis of financial stability in EAEU is based on the Solvency I criteria. In the EU countries the risk-based approach to financial stability for the insur-ance sector is offered. However, neither of these approaches can be fully applied in the Republic of Belarus due to the methods of the analysis, which are based on hypothetical scenarios of market developments and may have a high degree of unreliability. It is determined that in reinsurance, it is necessary to assess the reliability of a reinsur-ance organization not only on the basis of an analysis of financial indicators, but to make a complex study of the financial stability of a reinsurer. It was concluded that the above methodology makes it possible to objectively analysis of a reinsurer reliability and can help to develop a set of measures aimed at raising it.
  • Nadezhda Todorovska
    OPTIMIZATION OF HEALTH CARE FINANCIAL RESOURCES IN BULGARIA THROUGH HOME CARE AND ASSISTANCE SERVICES
    JEL: I 13.
    Abstract: Health care in Bulgaria is based on hospital care. According to the Euro Health Consumer Index for 2016, our country ranks first in terms of hospital stay. However, in small towns and villages, the cost of hospital care is too high... Health care in Bulgaria is based on hospital care. According to the Euro Health Consumer Index for 2016, our country ranks first in terms of hospital stay. However, in small towns and villages, the cost of hospital care is too high and unviable. This calls for the development of a new type of health services to reduce costs and optimize the inclusion of skilled workforce in the social and health sectors. The main purpose of this paper is to examine and analyse the possibilities to reduce healthcare costs through the introduction of a system of integrated health and social services at home, which necessitates the establishment of middle units Home Care Centres. It examines and analyses the results from a pilot project of the Bulgarian Red Cross, the Ministry of Health, and the Ministry of Labour and Social Policy, which envisaged the provision of integrated home care services for elderly people with chronic diseases and permanent disabilities in the Vratsa region as from the year 2012.
  • Talgat Uteubayev, Mariana Mateeva Petrova
    THE DEVELOPMENT OF HUMAN POTENTIAL IN KAZAKHSTANS INNOVATION ECONOMY
    Abstract: In this paper, statistical analysis of indicators of innovative growth in the Republic of Kazakhstan was conducted. The indicators were compared to those of technologically advanced countries, in particular to such indices as: the... In this paper, statistical analysis of indicators of innovative growth in the Republic of Kazakhstan was conducted. The indicators were compared to those of technologically advanced countries, in particular to such indices as: the share of innovation-active enterprises, domestic spending on research and development (Percentage to GDP), total researchers equivalent per thousand total employments, and amount of research conducted. As the results of the academic research, key factors that have a major influence on innovative activity of the SME were determined. Purpose disclose the nature and content of the human factor of the economy in terms of becoming an innovative society, to examine the role of the human factor in the innovative development of the state. Methodology - Research was composed to measure variation in the economic development and innovation in Kazakhstan required in times of increasing global competition. Conclusions - Today, the State is significantly lagging behind other developed countries according to innovation driven indices. The Republic of Kazakhstan can be competitive by shifting to a new model of economic growth and by rapidly reducing lag. The State requires an effective strategy of innovative development, which consists primarily in the development of human potential and employment of citizens. Integration of education, science and industry, the development of education on the basis of modern science and technology have become today one of the priority directions of economic development.