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Julia Yereshko, Petyo Bozhinov Bozhinov, Iryna Udovychenko, Nomeda Dobrovolskienė, Oksana Tsimoshynska
A DUAL-LAYER HYBRID SECURITY FRAMEWORK: ANALYZING DIGITAL MODELS TO ENHANCE CYBERSECURITY MANAGEMENT FOR START-UPS AND SMES
Abstract:
The rapid evolution of generative AI is transforming cybersecurity practices by providing advanced capabilities for threat detection and response. For start-ups and SMEs, these technologies offer a cost-effective way to defend against sophisticated online threats without the need for massive capital investment. While AI facilitates the identification of anomalies and malicious behavior, it also introduces new risks, such as deepfakes, zero-day exploits, and the potential for attackers to manipulate AI models themselves. The study examines the impact of large language models and artificial intelligence on the software and architecture of cybersecurity systems. The main types of attacks on artificial intelligence systems and the changes in the software development paradigm that result from them are being considered. To address the evolving threat landscape, this study proposes a Dual-Layer Hybrid Security Framework that integrates high-speed algorithmic detection with cognitive analysis. We present an algorithm for building a security system using LLM models. We also propose a software application tailored explicitly for the comprehensive analysis of network traffic while detecting cybersecurity incidents using Python and the Pandas library. Furthermore, it leverages artificial intelligence to provide a comprehensive approach to detecting and mitigating cybersecurity threats. This will enable start-ups and small businesses to manage their cybersecurity in-house.
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Dinko Herman Boikanyo
ETHICAL CONSIDERATIONS AND SOCIETAL IMPACTS OF AI ADOPTION IN SMEs WITHIN EMERGING MARKETS
Abstract:
This paper examines the ethical considerations and societal implications of AI adoption by small and medium enterprises (SMEs) in emerging markets. Drawing on Stakeholder Theory, Diffusion of Innovation, and the Technology-Organization-Environment framework, it proposes a comprehensive conceptual model that places ethical principles, fairness, accountability, and inclusivity at its core. The discussion highlights the complex interplay of technological, organizational and societal dimensions, illustrating how AI can enhance competitiveness while potentially exacerbating inequalities and raising privacy, bias and transparency concerns.
By integrating ethical and societal factors into a single framework, this study addresses a critical gap in current research, offering guidance for SME leaders, policymakers and researchers. The propositions suggest that ethical leadership fosters stakeholder trust, and that inclusive policies are essential to prevent AI-driven inequalities. This framework can serve as a roadmap for responsible AI adoption, informing capacity-building initiatives, regulatory guidance and future empirical studies. Ultimately, the paper invites further research to validate and refine its concepts and to explore cross-industry and cross-regional variations, ensuring that AI’s benefits are realized while mitigating its ethical and societal risks.
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Dino Quinteros Navarro, Alfredo Quinteros, Victor Muñoz, Williams Ramirez
IMPACT OF BUSINESS INTELLIGENCE ON
THE ECONOMIC GROWTH OF SMALL
AND MEDIUM-SIZED ENTERPRISES (SMES): EVIDENCE FROM THE LIMA PLAZA CASE
Abstract:
In a context where digital transformation is a strategic challenge for the sustainability of small and medium-sized enterprises (SMEs), business intelligence (BI) emerges as a key factor in improving decision-making and fostering competitive advantages. This study analyzed the relationship between the implementation of BI solutions and business growth in 525 SMEs located in Lima, Peru. A quantitative, applied, and experimental methodology was used with descriptive and inferential analysis (Spearman Rho and Wilcoxon tests). The results reveal a strong positive correlation (Rho = 0.775, p < 0.01) between BI adoption and SME growth. Limitations include the geographic concentration of the sample, which may affect generalizations to other areas of the country. Nevertheless, the findings contribute to the literature by offering empirical evidence of the real-world effects of BI tools in emerging business environments and suggest that digital capabilities should be promoted in micro and small enterprises. Future research is encouraged to expand the scope to other economic sectors and regions.
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Toufik Marmad, Ritahi Oussama, Echaoui Abdellah
THE IMPACT OF TAXATION ON INVESTMENT FINANCING: THE CASE OF MOROCCAN SMALL AND MEDIUM-SIZED ENTERPRISES
Abstract:
Small and medium-sized enterprises (SMEs) are pivotal to investment, employment, and economic growth in developing economies. However, their financing decisions are often influenced by complex tax environments that can either encourage or hinder investment. This study investigates the impact of taxation on the investment financing decisions of Moroccan SMEs, focusing on three fiscal dimensions: tax pressure, fiscal incentives, and the tax treatment of financing modes. A quantitative survey was conducted between March 2024 and October 2024 among 390 SMEs operating in various sectors across Morocco. Data were collected through a structured questionnaire and analyzed using partial least squares structural equation modeling (PLS-SEM). The findings show that all three tax-related factors significantly and positively affect financing decisions, with fiscal incentives and tax treatment exerting the strongest influence. These results emphasize the strategic role of tax policy in shaping SME financial behavior and offer actionable insights for policymakers aiming to enhance private sector investment and support SME development.
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Àlla I. Alekseeva
AN ANALYSIS OF THE IMPACT
OF INFLATION ON THE FINANCIAL
AND ECONOMIC ACTIVITIES
OF COMMERCIAL ORGANISATIONS
Abstract:
The article discusses the methodology of adjusting the indicators of financial and accounting reporting used for assessing the activities of commercial organisations in the context of inflation. This is extremely important for increasing the validity of management decisions. The calculations have been performed on the basis of a particular example of a functioning organisation.
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Vladimir Gorbunov, Dmitry Denisov
PROBABILITY METHODS
FOR ASSESSING FINANCIAL RISKS FOR ENTERPRISES
Abstract:
The paper reviews methods for risk assessment which could be employed in the financial management of enterprises. The set of methods proposed renders it possible to assess the impact which different risk factors upon the efficiency of implemented projects and the effect of anti-risk measures on the financial performance of companies and thus identify the most efficient measures according to the criterion selected for project evaluation.
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Tsvetan Georgiev Tsvetkov
ASSESSING MATURITY OF THE RISK MANAGEMENT SYSTEM IN HIGHER EDUCATION INSTITUTIONS
Abstract:
The article aims to seek answers to four research questions, focusing on the specifics, existing practice, available scientific publications on the issue of assessing the maturity of risk management in universities; the possibilities for creating the framework for developing a model adapted to university practice of assessing the risk management maturity. A framework for the development of a similar model is presented, envisaging the implementation of the following activities: identifying the specific features of risk management in universities; identifying risk factors specific to higher education institutions (HEIs); defining the attributes that will underlie the model description; analyzing some existing models for assessing the maturity level; creating a substantive model; adapting the model to the specific conditions; a pilot assessment when using the adapted model.
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Plamen Hristov Milev
AN ASSESSMENT OF INFORMATION
SYSTEMS FOR THE INDEXATION
AND ANALYSIS OF ONLINE PUBLICATIONS
Abstract:
The article studies the methodological issues related to assessing the information systems for the indexation and analysis of information available on the Internet. The comparative analysis of such information systems can be performed only after we define in advance assessment indicators and experts determine their levels of significance (weighted coefficients) in addition to providing access to the necessary data sources. In this research, the latter are represented by a number of Internet resources, which provide characteristics and information about the architecture solutions effective on the market nowadays. As a result of the determined weaknesses and disadvantages of the implemented systems, the last part of the research offers a concept for the development of a similar information system. Based on this, the article outlines the advantages of this concept in comparison with the existing alternative solutions.
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Monika Tsaneva
A PRACTICAL APPROACH FOR INTEGRATING HETEROGENEOUS SYSTEMS
Abstract:
The adoption of cloud computing is a major requirement for expanding a conventional business into an electronic one. In order to benefit fully from the advantages of cloud computing, companies need to have their business applications redesigned, yet this requires substantial financial, human and time resources which even the largest enterprises cannot afford. A feasible option is developing a strategy for gradual transition to cloud systems and technologies, which implies integrating the conventional systems of enterprises with newly developed cloud solutions.
The underlying idea of this research is that the priorities of such gradual transition should be identified on the basis of the major characteristics of the activities comprising the overall business process, such as its dynamics and prospects, the current and the potential level of automation, the volume of processed data, the workload they create for the systems processing those data, etc.
The research paper proposes an approach for integrating a conventional and a cloud system to service the business process ‘Requesting a consumer loan’ that requires real-time data exchange. The integration solution uses data structures which have been created in an intermediate data base for communication between systems. The rules for accessing and manipulating data by each of the integrated systems are defined. Interoperability is ensured through programme components (triggers and stored procedures) that are created in the data base of the operational system and ensure data exchange for real-time processing. The approach proposed in the paper has been employed in the business practice of a large Bulgarian bank. Its major advantages relate to the comprehensive service of the business process, as well as the greater flexibility, adaptability and scalability achieved with minimum financial and time resources.
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Iliyan Nikolaev Hristov, Lyubomira Georgieva Dimitrova
COMPREHENSIBILITY OF TEXT INFORMATION – CONCEPTS AND APPLICATIONS IN CONTEMPORARY STUDIES IN ACCOUNTING
Abstract:
This article presents part of the available arsenal of the developed quantitative and qualitative approaches for the assessment of text comprehensibility (readability) existing in western literature. Special attention is paid to their practical and application function in empirical research related to accounting. A conceptually new integrated approach is presented, the results of which could lead to a more precise metrication of the readability of disclosures of enterprises.
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Snezhana Hristova, Dimitar Kovachevski, Ivona Mileva
INDIVIDUAL AND GROUP DECISION MAKING IN MACEDONIAN SMES
Abstract:
Management is principally a bundle of decision-making processes. Decision-making is the process of selecting the best alternative among various available courses of action. The managers of any organization are responsible for achieving the vision, mission and operational and financial goals in particular. All the functions like planning, organizing, coordinating and controlling are dependent on the quality of the decisions made. In companies, no matter of their size, decisions are made on all hierarchical levels.
Structured decision-making process is important for large corporations, but not less important for small and medium enterprises. The innovation capacity that enables the competitive points of difference, utilization of market opportunities and potentials depend on the accuracy and timing of the decisions.
This paper discusses the different methods used in individual and group decision-making processes and their application in the small and medium enterprises in North Macedonia. We conducted a research on a sample of SMEs from North Macedonia and analyzed the different decision-making methods applied and the role of individual and group decision-making methods from the perspective of managers (entrepreneurs) and employees including their roles and involvement.
