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Mariana Bravo Sepúlveda, Jorge Andrés Polanco, Felipe Isaza Cuervo
ESTIMATING THE INCIDENCE OF OPERATIONAL RISKS ON CORPORATE SUSTAINABILITY IN THE CEMENT INDUSTRY THROUGH FINANCIAL SIMULATION
Abstract:
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.
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Angel Stoykov
THE INFLUENCE OF SOCIAL MEDIA
ON ADVERTISING TOURISM SERVICES
(IN THE EXAMPLE OF BULGARIA)
Abstract:
This article aims to provide an in-depth review of current literature related to the rapid and inevitable spread of social networks as a source of information influencing consumer opinion. To achieve this, it looks at how internet platforms are becoming an invariable part of the user's daily life. The main trends showing the place and role of social networks such as advertising tools in the tourism industry are revealed. It also examines their impact on the end user, tourist preferences, how they change and comply with new understandings. Two hypotheses are put forward for proof. In the course of the research, the following scientific methods were used: analysis, synthesis, graphical and systems approach.
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Margarita Nikolova
THE ISSUE OF THE NUMBER
OF HOSPITALS AND THEIR CAPACITY
AND EFFECTIVENESS IN BULGARIA
Abstract:
Over the last decade in Bulgaria medical institutions for health care have functioned in an unsustainable and unfavorable environment. This is particularly true for hospitals in towns or villages as some of them have gone bankrupt, while many of them have terminated their activities.
As regards the number of hospitals per 100,000 people, Bulgaria is among the countries of the EU-27 with a relatively large number of hospitals – over 4.44 per 100,000 people. This is a third more than the average ratio of the EU-27 member states and 50% more than the new EU member states from Eastern Europe. This is why research into hospitals takes into account a problem which is very serious for Bulgaria, namely, the activities undertaken and their effectiveness. This article argues for the thesis that the government must stop the uncontrolled growth of medical institu¬tions for health care and introduce a new system of funding according to which the patient must be treated in a complex way, not according to a clinical pathway, because costs do not meet the real expenses of the treatment of a patient with a particular diag¬nosis.
