Year 2024, Issue 3
Date published16.9.2024
CONTENTS
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Plamen Yordanov, Tanya Ilieva, Yordan Yordanov
THE SOCIO-ECONOMIC POTENTIAL OF VOLUNTARY PENSION INSURANCE IN BULGARIAJEL: G23.Keywords: voluntary pension insurance, voluntary pension fund, professional scheme, pan-European personal pension productAbstract: The aim of the study is to characterise the overall state and outline the development opportunities of voluntary pension insurance in Bulgaria. Research publications and officially disclosed empirical data for the period 2002 – 2024... The aim of the study is to characterise the overall state and outline the development opportunities of voluntary pension insurance in Bulgaria. Research publications and officially disclosed empirical data for the period 2002 – 2024 have been used. The study examines changes in the number of insured individuals, the amount of the insurance contribution and the accumulated funds, the achieved returns, the share of net assets relative to GDP and to the total amount of household deposits, as well as the growth rates of managed assets and the amount of the insurance contribution compared to the growth rates of GDP, the average insurance income, and the amount of household deposits. It is concluded that voluntary pension insurance has not managed to provoke the desired widespread interest. The possible reasons for this are identified, and suggestions for its future development are outlined. -
Jorge Alfonso Lara Pérez, Francisco Canibe Cruz, Patricia Ramos Rubio
SCIENTIFIC MAPPING OF BUSINESS INTELLIGENCE AND ENTERPRISE RESOURCE PLANNING FROM 2003 TO 2022Keywords: Enterprise resource planning systems, business intelligence, information management, data analytics, scientific mapsAbstract: The changes in global markets have represented an important challenge for firms, therefore the integration of strategic processes, the efficiency of operations, the management of information and the knowledge generated, have been... The changes in global markets have represented an important challenge for firms, therefore the integration of strategic processes, the efficiency of operations, the management of information and the knowledge generated, have been the basis for incorporating advanced management tools in the era of digitalization. In this sense, business intelligence (BI) and enterprise resource planning (ERP) systems are two topics that have become widespread and researched in recent years. The present study aims at the conceptual analysis of ERP-BI topics with information collected from the web of science database from 2003 to 2022, identifying the most representative approaches and quantifying the main bibliometric indicators with the support of an open access technological tool SciMAT. The results show a growing trend of publications related to the incorporation of business systems and their conceptual relationships to sustainable development, knowledge management (KM), big data, among others. This study highlights the growth of research on BI and ERP systems, integrating organizational processes and generating knowledge based on valuable information for decision making with a positive impact on productivity and innovative strategy -
Mariana Bravo Sepúlveda, Jorge Andrés Polanco, Felipe Isaza Cuervo
ESTIMATING THE INCIDENCE OF OPERATIONAL RISKS ON CORPORATE SUSTAINABILITY IN THE CEMENT INDUSTRY THROUGH FINANCIAL SIMULATIONAbstract: This study estimates the impact of operational risks on corporate sustainability in the cement industry through a financial simulation. The methodology is based on a case study in the cement industry and identifies company’s... This study estimates the impact of operational risks on corporate sustainability in the cement industry through a financial simulation. The methodology is based on a case study in the cement industry and identifies company’s operational risks before classifying them through a taxonomy of environmental, social and economic variables. The impact is quantified using a stochastic model with a Poisson distribution for frequency and a PERT distribution for severity. The results show that it is possible to quantify aggregate losses through the proposed probability distributions, eliminating the limitations faced by companies in the absence of historical information, and it is concluded that the average impact of these risks on FCF varies between 7.52% and 13.13% for the case study, also demonstrating that the impact is reduced when risks are proactively managed. Finally, the proposed model allows calculation and simulation of the financial impact of these risks on the company’s free cash flow and establishes strategies for cost mitigation and financial optimization. This research has two limitations: the validation in a single industry and the limitation of using solver for optimization. -
Olena Sushchenko, Giga Abuseridze, Liubov Ivchenko, Sergiy Kravtsov, Tetyana Prymak
NOSTALGIC TOURISM MANAGEMENT BASED ON GERMAN SETTLEMENTS IN SOUTHERN UKRAINEKeywords: nostalgic tourism, German settlements, southern Ukraine, tourism management, heritage resourcesAbstract: The prospects for the formation and development of nostalgic tourism in Ukraine as a direction of the future intensification of inbound and domestic tourist flows are assessed in the article. The study of the possibilities of... The prospects for the formation and development of nostalgic tourism in Ukraine as a direction of the future intensification of inbound and domestic tourist flows are assessed in the article. The study of the possibilities of diversification and further changes in the structure of tourism in Ukraine is particularly relevant in connection with the events currently taking place. The presence of numerous homogeneous resources, remained from a sufficiently long stay of the German population on Ukrainian territory, provides an opportunity to form an innovative tourist product on this base. Special attention in the article is paid to the southern regions of the country, in particular, the Mykolaiv region, where an inventory of heritage resources was recently conducted for the development of creative tourism. On the site of German settlements, the establishment of which began in the south of Ukraine from the end of the 18th to the beginning of the 19th century, there are historical and architectural monuments in the form of churches, farm buildings, gymnasiums, and residential buildings. There are many resources preserved with maps of German settlements, registers of archival cases, geographic indexes of places and lists of citizens of German nationality who once lived in the territory of Southern Ukraine. Therefore, the purpose of the study is to analyze the possibilities of intensification of inbound nostalgic tourism in the southern regions of the country, in particular, the Mykolaiv region. The article analyzes the number and distribution of descendants of German immigrants, which can serve as a basis for determining the most attractive destinations for nostalgic tourism. Analysis of the dynamics of the inbound tourist flow from Germany to Ukraine in 2014-2018 allowed us to estimate the average annual growth of 28,175 persons. To predict the number of German tourists, the linear regression method was used, which showed a trend of sustainable growth and allowed us to conclude that nostalgic tourism is promising for tourists from Germany. It should be noted that this growth occurred despite military operations on the territory of the country. Therefore, the development and implementation of nostalgic tours and excursions, including visits to the places of former settlements in southern Ukraine, seems appropriate. At the same time, the research revealed a sufficient number of resources (documents, lists of residents of certain settlements, places from which immigrants came), which should be used in the future for the practical formation of targeted tourist offers. -
Iskren Tairov, Nadezhda Koseva Stefanova, Alexandrina Alexandrova
ARTIFICIAL INTELLIGENCE APPLICATION IN HUMAN RESOURCES MANAGEMENTKeywords: Narrow artificial intelligence, General artificial intelligence, Human resources managementAbstract: In the contemporary landscape marked by the pervasive influence of artificial intelligence (AI), technological innovations continue to reshape conventional practices across various domains. Within the realm of human resources... In the contemporary landscape marked by the pervasive influence of artificial intelligence (AI), technological innovations continue to reshape conventional practices across various domains. Within the realm of human resources management, the intricate process of decision-making has long posed challenges in terms of analytical elucidation. However, the advent of AI technologies has ushered in a new era, offering unprecedented opportunities to augment and refine HR administration practices. This paper delves into the transformative potential of AI applications within human resources management, shedding light on how diverse AI modalities, including narrow and general AI, are revolutionizing traditional approaches. Through a comprehensive review of literature sourced from esteemed databases such as Scopus and Google Scholar, this study identifies key advancements poised to drive future research endeavors. Beyond the realm of recruitment, AI presents a myriad of possibilities spanning talent acquisition, employee training and development, performance assessment, compensation management, engagement initiatives, and even employee well-being programs. The synergy between human capabilities and AI integration emerges as a cornerstone for achieving enhanced outcomes, often serving as a determinant for competitive advantage within organizations while also impacting broader societal dynamics. By exploring the symbiotic relationship between human ingenuity and AI capabilities, this research seeks to elucidate the pathways through which AI-driven innovations can foster organizational excellence and societal progress. -
Lucie Rotenbornová, Dana Egerová
ANALYSIS OF FINANCIAL PERFORMANCE INDICATORS IN RELATION TO GENDER DIVERSITY IN TOP MANAGEMENT TEAMS OF SMALL AND MEDIUM-SIZED ENTERPRISESKeywords: gender diversity, top management, financial performance, ROA, ROE, small and medium-sized enterprises, Czech RepublicAbstract: This study examines the impact of gender diversity in top management on the financial performance of small and medium-sized enterprises (SMEs) in the Czech Republic. We focus on two sectors: manufacturing and information and... This study examines the impact of gender diversity in top management on the financial performance of small and medium-sized enterprises (SMEs) in the Czech Republic. We focus on two sectors: manufacturing and information and communication technologies. Financial performance is assessed using the return on assets (ROA) and return on equity (ROE) ratios. Data for 396 entities were obtained from the Czech Statistical Office and the ARES database. The results show that gender diversity in top management has a positive impact on return on assets (ROA). However, no impact on return on equity (ROE) was found. These results suggest that gender-diverse leadership can lead to more efficient use of company assets, although it may not have a direct impact on profitability for investors. This research contributes to the existing literature on gender diversity and corporate performance. It offers valuable insights for managers and policymakers on the potential benefits of inclusive leadership for the prosperity of SMEs in the Czech Republic.