Business Management

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  MEASURING THE INNOVATION ACTIVITY OF TOURISM BUSINESSES IN BULGARIA

  The implementation of innovations in tourism enterprises is a key factor in increasing their competitiveness. A challenge for the tourism businesses in Bulgaria is to develop innovative solutions that will diversify their tourism products, optimize business operations and improve the overall efficiency of the tourism industry. The aim of this ... The implementation of innovations in tourism enterprises is a key factor in increasing their competitiveness. A challenge for the tourism businesses in Bulgaria is to develop innovative solutions that will diversify their tourism products, optimize business operations and improve the overall efficiency of the tourism industry. The aim of this research is to systematize and interpret theoretical and empirical statements of innovations in tourism in order to propose and test a model for measuring the innovation activity of tourist enterprises in Bulgaria and, based on this, to formulate conclusions and recommendations. This paper examines the scope of innovation activity of tourism enterprises and measures their innovation activity by means of a proposed model that has been tested in organizations providing tourism-related services. Research methodology includes induction and deduction, method of analysis and synthesis, analogy, content analysis, comparative analysis, survey, etc. As a result of the research, an innovation index is calculated, using the developed Model for measuring innovation activity in tourist enterprises, based on the evaluation of seven groups of qualitative indicators, and conclusions and recommendations are formulated for the promotion of innovation activity in the tourism sector. The tested model shows that it is possible to measure the innovation activity in the tourism sector by covering all enterprises offering the main tourism services.

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  PROFITABILITY PUZZLES: INSIGHTS FROM NORTH MACEDONIAN BANKS

  The profitability of banks, as an indicator of financial performance, reflects their ability to generate substantial revenues. Bank profits are essential for their survival, solvency, and growth in a highly competitive environment. Moreover, even if solvency is high, poor profitability undermines a bank’s capacity to absorb negative shocks, which ... The profitability of banks, as an indicator of financial performance, reflects their ability to generate substantial revenues. Bank profits are essential for their survival, solvency, and growth in a highly competitive environment. Moreover, even if solvency is high, poor profitability undermines a bank’s capacity to absorb negative shocks, which can eventually impact its solvency. Consequently, profitability has a vital role in maintaining the stability of the banking and financial system as a whole. Hence, the primary goal of this research is to analyze several important bank-specific and macroeconomic determinants of bank profitability in the Republic of North Macedonia. More specifically, the paper investigates how the Return on Average Assets (ROAA) is influenced by the Capital Adequacy Ratio (CAR), Credit Risk (CR), Cost to Income Ratio (CIR), Loan to Deposit Ratio (LDR), Inflation Rate (IR), and Gross Domestic Product Rate (GDPR). Using secondary data from trustworthy sources, covering quarterly time series from 2005:Q1 to 2023:Q4, we employ correlation analysis, Granger causality tests, as well as the Auto-Regressive Distributed Lag (ARDL) approach to examine both short- and long-run dependencies among the variables. The results confirm the statistically significant impact of the regressors on the dependent variable and provide a solid foundation for the successful management and enhancement of banks’ profitability.

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  CORPORATE SOCIAL RESPONSIBILITY OF AGRIBUSINESS AS A DETERMINANT FOR ENSURING THE DEVELOPMENT OF RURAL AREAS OF UKRAINE

  The growth of scientific and practical interest in the problems of corporate social responsibility relates to the public demand for value orientations of modern life, which are based on the principles of democracy, objectivity and justice. The basis of multifunctional rural development should be recognized as the social responsibility of all ... The growth of scientific and practical interest in the problems of corporate social responsibility relates to the public demand for value orientations of modern life, which are based on the principles of democracy, objectivity and justice. The basis of multifunctional rural development should be recognized as the social responsibility of all stakeholders interested in improving the quality of rural residents’ lives. The purpose of the study is to conceptually reveal and substantiate the activation processes of corporate social responsibility in the rural development of Ukraine in the conditions of European integration. The methodological basis of the study is based on the use of various methods of scientific knowledge, in particular: abstract-logical, structural-functional, induction and deduction, concretization, and graphic methods. During the conducted research, an assessment of the level of corporate social responsibility was carried out based on the parameters of the increase in the volume of social expenses and their structure among business entities in the agricultural sector of Ukraine for 2014-2022. Using consolidated reporting (financial and non-financial) of the leading producers of agricultural products in Ukraine, a correlation-regression model was formed. An assessment of the impact on the social costs’ quantity of agricultural holdings of factors such as capital profitability, land profitability and the volume of net income per 1 ha of agricultural land was carried out. Based on the modelling results, it was established that the mentioned agricultural producers have the necessary financial resources to strengthen social activity in rural areas, primarily thanks to the rational use of land capital. The main results of the study are aimed at integrating the corporate social responsibility of agribusiness into all areas of life in rural areas, ensuring a combination of moral and ethical, and socio-economic foundations of rural development.