Business Management

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  ESTIMATING THE INCIDENCE OF OPERATIONAL RISKS ON CORPORATE SUSTAINABILITY IN THE CEMENT INDUSTRY THROUGH FINANCIAL SIMULATION

  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 ... 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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  ARTIFICIAL INTELLIGENCE APPLICATION IN HUMAN RESOURCES MANAGEMENT

  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, ... 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.

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  THE SOCIO-ECONOMIC POTENTIAL OF VOLUNTARY PENSION INSURANCE IN BULGARIA

  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 ... 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.