This article presents the applicability of the averaged chain substitution method for performing dynamic deterministic factor analysis. The averaged chain substitution method is the only universal and accurate method for deterministic factor analysis of multiple factor models and of factor models containing a multiple element. The author’s previous and new mathematical expressions for the quantitative determination of the individual factor influences of the participating factor variables over the variation of their result indicator for all types of deterministic factor models containing up to four factor variables are systematized by types of factor models in tabular form. The purpose of this article is to reveal the applicability and accuracy of the averaged chain substitution method for the needs of dynamic deterministic factor analysis.
{"title":"Dynamic Deterministic Factor Analysis Using the Averaged Chain Substitution Method","authors":"","doi":"10.37075/isa.2023.1.11","DOIUrl":"https://doi.org/10.37075/isa.2023.1.11","url":null,"abstract":"This article presents the applicability of the averaged chain substitution method for performing dynamic deterministic factor analysis. The averaged chain substitution method is the only universal and accurate method for deterministic factor analysis of multiple factor models and of factor models containing a multiple element. The author’s previous and new mathematical expressions for the quantitative determination of the individual factor influences of the participating factor variables over the variation of their result indicator for all types of deterministic factor models containing up to four factor variables are systematized by types of factor models in tabular form. The purpose of this article is to reveal the applicability and accuracy of the averaged chain substitution method for the needs of dynamic deterministic factor analysis.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115725329","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Subjective and emotional well-being attracts the attention of Bulgarian and foreign authors who focus on various research approaches. In the context of the complex conceptual nature of well-being, the role of leadership as a factor in employee satisfaction in work teams stands out. In this article, the relationship between specific leadership approaches and well-being at work will be surveyed in 10 European countries – Bulgaria, Czech Republic, Croatia, Finland, France, Lithuania, Estonia, Slovenia, Slovakia, Hungary. The analysis confirms that there is a relationship between employee satisfaction and a) support from managers regarding the balance between work and personal commitments and b) managers’ willingness to give work-related help or advice, if needed. Leadership with understanding of employees’ need for balance in their lives has been shown to be a significant predictor of well-being. Work-related professional help and advice also correlates positively with satisfaction at work. A lot of studies confirm that higher levels of work-related well-being are associated with greater labor productivity. The present analysis contributes to a deeper understanding of the significant role of leaders at different management levels in achieving organizational goals through successful models of interaction with employees. The study of leadership and its relationship to employee well-being provides new opportunities for successful management practices.
{"title":"Relationship between Leadership and Well-Being at Work – Evidence from a European Social Survey","authors":"","doi":"10.37075/isa.2023.1.04","DOIUrl":"https://doi.org/10.37075/isa.2023.1.04","url":null,"abstract":"Subjective and emotional well-being attracts the attention of Bulgarian and foreign authors who focus on various research approaches. In the context of the complex conceptual nature of well-being, the role of leadership as a factor in employee satisfaction in work teams stands out. In this article, the relationship between specific leadership approaches and well-being at work will be surveyed in 10 European countries – Bulgaria, Czech Republic, Croatia, Finland, France, Lithuania, Estonia, Slovenia, Slovakia, Hungary. The analysis confirms that there is a relationship between employee satisfaction and a) support from managers regarding the balance between work and personal commitments and b) managers’ willingness to give work-related help or advice, if needed. Leadership with understanding of employees’ need for balance in their lives has been shown to be a significant predictor of well-being. Work-related professional help and advice also correlates positively with satisfaction at work. A lot of studies confirm that higher levels of work-related well-being are associated with greater labor productivity. The present analysis contributes to a deeper understanding of the significant role of leaders at different management levels in achieving organizational goals through successful models of interaction with employees. The study of leadership and its relationship to employee well-being provides new opportunities for successful management practices.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117238872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The research examines the dynamics of the innovation activity of the Republic of Bulgaria during the pandemic caused by COVID-19. Representative data about the most widely accepted index of innovation activity on a global scale – Global Innovation Index – are analyzed. The results achieved by the country in the 2019-2022 period are compared with those of the other EU member states. Bulgaria has increased its innovation activity during the period under review, both in absolute and comparative terms, but the positive change is not enough for the country to reach the highly developed Western European member states of the EU.
{"title":"Innovation Activity of the Republic of Bulgaria in Times of Pandemic","authors":"","doi":"10.37075/isa.2023.1.12","DOIUrl":"https://doi.org/10.37075/isa.2023.1.12","url":null,"abstract":"The research examines the dynamics of the innovation activity of the Republic of Bulgaria during the pandemic caused by COVID-19. Representative data about the most widely accepted index of innovation activity on a global scale – Global Innovation Index – are analyzed. The results achieved by the country in the 2019-2022 period are compared with those of the other EU member states. Bulgaria has increased its innovation activity during the period under review, both in absolute and comparative terms, but the positive change is not enough for the country to reach the highly developed Western European member states of the EU.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"129 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114043455","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Club goods are a variety of public goods. They are consumed by individuals with homogeneous preferences who are voluntarily associated in clubs. Club members derive mutual benefit from the collective consumption of club goods, which improves their well-being and therefore enhances social welfare to a certain extent. The private initiative underpins the creation of the classic clubs. Later, the state adopted and implemented club decisions in order to increase the efficiency in the supply and collective consumption of certain private and divisible public goods. Examples of state-regulated clubs are maintaining cleanliness in settlements, supply and consumption of utilities, maintaining the national road network with vignettes and tolls, and others that are analyzed in the paper. The development of digital communications has led to the emergence of thousands of online club formations, including a global one. The final conclusion: with private or government initiatives club activities are expanded, and consumers of club goods grow in number, which in turn increases the level of social welfare.
{"title":"Club Goods, Club Decisions and Social Welfare","authors":"","doi":"10.37075/isa.2023.1.01","DOIUrl":"https://doi.org/10.37075/isa.2023.1.01","url":null,"abstract":"Club goods are a variety of public goods. They are consumed by individuals with homogeneous preferences who are voluntarily associated in clubs. Club members derive mutual benefit from the collective consumption of club goods, which improves their well-being and therefore enhances social welfare to a certain extent. The private initiative underpins the creation of the classic clubs. Later, the state adopted and implemented club decisions in order to increase the efficiency in the supply and collective consumption of certain private and divisible public goods. Examples of state-regulated clubs are maintaining cleanliness in settlements, supply and consumption of utilities, maintaining the national road network with vignettes and tolls, and others that are analyzed in the paper. The development of digital communications has led to the emergence of thousands of online club formations, including a global one. The final conclusion: with private or government initiatives club activities are expanded, and consumers of club goods grow in number, which in turn increases the level of social welfare.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117290155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The constant development of society necessitates the evolution of its most important social regulator – law, whose changes quite naturally affect the functioning of the judicial system itself. A good knowledge of the legal rules that are being missed determines to a great extent the full participation of citizens in the process. In the study, the ways in which the attorney can be constituted in the criminal proceedings are analyzed, and the moment at which this procedural representative can enter the current phase and stages of the process is also discussed. The two ways in which the attorney is constituted in the criminal process are clarified – appointment by an act of a state body and de facto composition, which consists of two elements – a power of attorney from the represented person and final actions by which the relevant state body allows the attorney to participate in production. The findings show that, unlike the victim, the person who is constituted in the judicial phase as a civil liability and the damaged legal entity do not participate in the pre-trial proceedings and accordingly do not have the right to an attorney in this phase. This naturally has a negative impact on the right of defense of these persons.
{"title":"Constitution of the Attorney in the Criminal Process","authors":"","doi":"10.37075/isa.2023.1.09","DOIUrl":"https://doi.org/10.37075/isa.2023.1.09","url":null,"abstract":"The constant development of society necessitates the evolution of its most important social regulator – law, whose changes quite naturally affect the functioning of the judicial system itself. A good knowledge of the legal rules that are being missed determines to a great extent the full participation of citizens in the process. In the study, the ways in which the attorney can be constituted in the criminal proceedings are analyzed, and the moment at which this procedural representative can enter the current phase and stages of the process is also discussed. The two ways in which the attorney is constituted in the criminal process are clarified – appointment by an act of a state body and de facto composition, which consists of two elements – a power of attorney from the represented person and final actions by which the relevant state body allows the attorney to participate in production. The findings show that, unlike the victim, the person who is constituted in the judicial phase as a civil liability and the damaged legal entity do not participate in the pre-trial proceedings and accordingly do not have the right to an attorney in this phase. This naturally has a negative impact on the right of defense of these persons.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"59 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131638399","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The knowledge and application of the project approach is the basis of the adaptation of business organizations to the constantly changing conditions of the external environment. The purpose of the article is, based on the results of the analysis of the conducted empirical study, to present the main challenges in the application of the project management approach in corporate-type business organizations in Bulgaria. In this regard, basic theoretical propositions related to corporations and the project management approach are derived; the methodology of the conducted empirical research is presented; the challenges related to the adoption of the project approach and the factors that determine them are brought out.
{"title":"Challenging Issues in the Application of the Project Management Approach in Corporate-Type Business Organizations","authors":"","doi":"10.37075/isa.2023.1.05","DOIUrl":"https://doi.org/10.37075/isa.2023.1.05","url":null,"abstract":"The knowledge and application of the project approach is the basis of the adaptation of business organizations to the constantly changing conditions of the external environment. The purpose of the article is, based on the results of the analysis of the conducted empirical study, to present the main challenges in the application of the project management approach in corporate-type business organizations in Bulgaria. In this regard, basic theoretical propositions related to corporations and the project management approach are derived; the methodology of the conducted empirical research is presented; the challenges related to the adoption of the project approach and the factors that determine them are brought out.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130830737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The fourth industrial revolution or Industry 4.0 is already a fact in the form of a set of high technologies in business organizations; of new business models aimed at digitalization; of national, European and global strategic initiatives aimed at promoting digitalization of business; as a phenomenon changing the ways of production, consumption, communication, and in the long term also of training and education. This industrial revolution is an important factor in the external business environment of modern business organizations, which can promote or limit their development. The technologies associated with it represent an important internal determinant of growth. In this regard, the present article examines the “Industry 4.0” phenomenon and its relationship with strategic business planning and the implementation of a specific type of business growth strategies. In conclusion, the article answers the question whether and how Industry 4.0-based technologies contribute to the implementation of the examined strategies for diversified growth in enterprises.
{"title":"Industry 4.0-based Technologies as a Tool for Implementation of Strategies for Diversified Growth","authors":"","doi":"10.37075/isa.2023.1.03","DOIUrl":"https://doi.org/10.37075/isa.2023.1.03","url":null,"abstract":"The fourth industrial revolution or Industry 4.0 is already a fact in the form of a set of high technologies in business organizations; of new business models aimed at digitalization; of national, European and global strategic initiatives aimed at promoting digitalization of business; as a phenomenon changing the ways of production, consumption, communication, and in the long term also of training and education. This industrial revolution is an important factor in the external business environment of modern business organizations, which can promote or limit their development. The technologies associated with it represent an important internal determinant of growth. In this regard, the present article examines the “Industry 4.0” phenomenon and its relationship with strategic business planning and the implementation of a specific type of business growth strategies. In conclusion, the article answers the question whether and how Industry 4.0-based technologies contribute to the implementation of the examined strategies for diversified growth in enterprises.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121364456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article is about the dynamics of the development of the capital market in Bulgaria. The period covered in this research is 2001 – 2021. The study of the established trends is based on the analysis of basic stock market indicators such as market capitalization, market capitalization to national GDP ratio, annual turnover, number of concluded transactions, number of issues of financial instruments listed for trading, basic stock exchange indices. The key factors that impact the dynamics of the capital market in this country have been extrapolated. Based on that, the main particularities of the Bulgarian capital market have been outlined.
{"title":"Bulgarian Capital Market Dynamics (2001-2021)","authors":"","doi":"10.37075/isa.2023.1.02","DOIUrl":"https://doi.org/10.37075/isa.2023.1.02","url":null,"abstract":"The article is about the dynamics of the development of the capital market in Bulgaria. The period covered in this research is 2001 – 2021. The study of the established trends is based on the analysis of basic stock market indicators such as market capitalization, market capitalization to national GDP ratio, annual turnover, number of concluded transactions, number of issues of financial instruments listed for trading, basic stock exchange indices. The key factors that impact the dynamics of the capital market in this country have been extrapolated. Based on that, the main particularities of the Bulgarian capital market have been outlined.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128722061","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Although the concept of “sustainability” has been known since the last century, it has acquired an increasingly key role and importance in almost all sectors of modern economy and development in the last decade, becoming a “good practice” for both the private and public sectors. Examples of sustainable practices and solutions in construction are also gaining speed and influence, although for the time being, sustainable construction has entered as a strategy more deeply in the USA and the countries of Western Europe than in our country. This includes the sustainable management of construction waste, i.e. planned and sustainable disposal, recycling and input of construction waste in future projects. The main goal of the article is to reveal the opinion and attitudes of the main participants in the construction waste management process in support of the hypothesis that there is a need to digitize this process in our country.
{"title":"Digitizing the Construction Waste Management Process – Studying the Attitudes of the Participants in the Sector","authors":"","doi":"10.37075/isa.2023.1.06","DOIUrl":"https://doi.org/10.37075/isa.2023.1.06","url":null,"abstract":"Although the concept of “sustainability” has been known since the last century, it has acquired an increasingly key role and importance in almost all sectors of modern economy and development in the last decade, becoming a “good practice” for both the private and public sectors. Examples of sustainable practices and solutions in construction are also gaining speed and influence, although for the time being, sustainable construction has entered as a strategy more deeply in the USA and the countries of Western Europe than in our country. This includes the sustainable management of construction waste, i.e. planned and sustainable disposal, recycling and input of construction waste in future projects. The main goal of the article is to reveal the opinion and attitudes of the main participants in the construction waste management process in support of the hypothesis that there is a need to digitize this process in our country.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"172 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133871876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Global environmental problems and climate changes in recent decades have brought to the fore the questions related to the sustainable development of economies and the impact of these processes on the long-term returns of widely diversified portfolios. Consideration of all risk factors and potential opportunities is key to the investments of pension funds, which are called to act “in the best interest” of beneficiaries, providing secure and stable income. To unlock their potential to finance the economy’s low-carbon transition, pension funds must be convinced that the financial characteristics of green assets match the profile they are looking for and have a good understanding of their benefits and risks. The current paper aims to research the effect of including green assets in the portfolio of voluntary private pension funds in Bulgaria, applying the UPM/LPM model for portfolio optimization.
{"title":"Private Pension Funds Portfolio Optimization with UPM/LPM Algorithm","authors":"","doi":"10.37075/isa.2023.1.07","DOIUrl":"https://doi.org/10.37075/isa.2023.1.07","url":null,"abstract":"Global environmental problems and climate changes in recent decades have brought to the fore the questions related to the sustainable development of economies and the impact of these processes on the long-term returns of widely diversified portfolios. Consideration of all risk factors and potential opportunities is key to the investments of pension funds, which are called to act “in the best interest” of beneficiaries, providing secure and stable income. To unlock their potential to finance the economy’s low-carbon transition, pension funds must be convinced that the financial characteristics of green assets match the profile they are looking for and have a good understanding of their benefits and risks. The current paper aims to research the effect of including green assets in the portfolio of voluntary private pension funds in Bulgaria, applying the UPM/LPM model for portfolio optimization.","PeriodicalId":435790,"journal":{"name":"Economic and social alternatives","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131021363","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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