Business Management

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  HOUSEHOLD EXPENDITURE DURING A PANDEMIC: COVID-19 AND THE CASE OF BULGARIA

  This article examines the expenditures of Bulgarian households during the COVID-19 pandemic. It specifies the theoretical and methodological features of the concepts of the household total and monetary expenditures and outlines their structure and specific characteristics. It also proves that the amount of total consumer expenditure is greater ... This article examines the expenditures of Bulgarian households during the COVID-19 pandemic. It specifies the theoretical and methodological features of the concepts of the household total and monetary expenditures and outlines their structure and specific characteristics. It also proves that the amount of total consumer expenditure is greater than the amount of monetary consumer expenditure. The structure and dynamics of the total expenditure average per household and per person are analyzed, deriving the factors that affect the trends in the change of the studied categories. The object of study is household total expenditure, and the subject involves the supposed role of COVID-19 as a factor that affects the state and dynamics of household total expenditure and/or its structure in Bulgaria. The conclusion is that there is a negative pandemic impact, but it should not be overestimated and/or dramatized.

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  DETERMINATION OF THE EFFICIENCY OF IMPLEMENTING BLOCKCHAIN TECHNOLOGY INTO THE LOGISTICS SYSTEMS

  In a supply chain, buyers and suppliers usually try to supply goods or services based on medium or long-term contracts. When executing a supply contract, two partners are required to mutually agree on cooperation in order to successfully respond to uncertain market situations or a supply chain failure. The outcome of the partnership is assessing ... In a supply chain, buyers and suppliers usually try to supply goods or services based on medium or long-term contracts. When executing a supply contract, two partners are required to mutually agree on cooperation in order to successfully respond to uncertain market situations or a supply chain failure. The outcome of the partnership is assessing and considering renewal upon termination of the contract. A partnership after several contract renewals is often viewed as a strategic partnership. Strategic partnership can become more effective and show further growth. Blockchain, which has recently gained attention in the digital commerce market, has technical characteristics that can be used in cooperation between partners. The company’s activity is closely related to the need for cargo transportation. Today, the workflow process of delivery is being complicated by the low speed of the logistics cycle, long flow of documents and the presence of errors in them, and security issues. The objective of the research is to define the improvement of the transport logistics system of an industrial enterprise. To define the efficiency, we need to implement blockchain technology, which will solve existing problems in the field of supply management. In this study, the implementation stages of blockchain technology are considered and profitability is defined for future research. Since the analysis revealed the interdependence and mutual influence of transport and information support in the processes of transportation, we recommend using the performance indicators of the processes of transport and information logistics. Using the method of analyzing the types and consequences of potential problems, it was found that the main reason that the management of a chemical enterprise should first of all pay attention to complex with a continuous production cycle, is the timely execution of all operations preceding the shipment of finished products by a vehicle from the manufacturer. In second place in terms of importance and degree of influence on the transportation process is the execution of documentation, which directly affects the timing of transportation. Their delay leads to a delay in the departure of transport from the territory of the plant and, as a result, the financial costs of storing finished products in and out of the warehouse increase. As a result of the study, the logistics system of enterprises is considered to be one of the most complex and well-functioning mechanism. Despite the wide variety of interpretations of the basic concepts, it is concluded that the study will use the interpretation of definitions such as logistics, transport logistics, system, transport and transport logistics system. The orientation of the implementation of blockchain technology to the technological side of logistics reduces risks and significantly increases stability, since it forms its practical orientation.

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  SPILLOVER EFFECTS BETWEEN INDOCHINA METAL FUTURES MARKETS

  India and China have been at the top of the exporter, importer, producer and consumer economies. The two neighbouring countries provide the largest market in the world. They also share a similar history of development of their commodity derivatives markets. This paper aims to examine the direction of causality and spillover effect between the ... India and China have been at the top of the exporter, importer, producer and consumer economies. The two neighbouring countries provide the largest market in the world. They also share a similar history of development of their commodity derivatives markets. This paper aims to examine the direction of causality and spillover effect between the metal futures markets of the two economies. The analysis is done for metals such as copper, aluminium, zinc and gold in the period 2009 - 2020 by using Granger causality and Dynamic Conditional Correlation -GARCH (DCC-GARCH) models. The gold futures at the Multi Commodity Exchange (MCX) have a unidirectional causality on the gold futures traded at Shanghai Futures Exchanges (SHFE), unlike other metals having bidirectional causality. Similarly, GARCH results report only long-term volatility spillover for gold futures returns, while for the base metals, both short-term and long spillover exist. The findings indicate that the Indian metals futures market has started to influence the Chinese metal futures. The results have important implications for policymakers, regulators, industrialists and offshore traders of physical commodities in hedging their positions.