Template-Type: ReDIF-Article 1.0 Author-Name: Hristo Mavrov Author-Email: mavrov_h@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: The Relationship Between Financial Development and Income Inequality: Data from Bulgaria Abstract: There is a global consensus that income inequality is the most important trend to impact the development over the next decade. Financial development is among the factors that determine income inequality. In this article, the private credit by deposit money to GDP indicator (%) is used as a measure of financial development. The simple regression model used shows that in Bulgaria for the period 1990-2014 the financial development with a certain probability has raised the income inequality. To the extent that Bulgaria is a country with insufficiently developed financial system, this conclusion does not reject the possibility of nonlinearity of the financial development/income inequality relationship. Classification-JEL: A00 Keywords: financial development, private credit, income inequality Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 5-12 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/5-12.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:5-12 Template-Type: ReDIF-Article 1.0 Author-Name: Vesselina Dimitrova Author-Email: vesselina.dimitrova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Author-Name: Teodoro Gallucci Author-Email: teodoro.gallucci@uniba.it Author-Workplace-Name: University of Bari, Italy Title: Reverse Logistics and Circular Economy - Working Together? Abstract: In this study the authors have investigated which factors (economic and environmental) can incentive reverse logistics process and can create new market opportunities through the adoption of the principles of Circular economy. The tool for analysing these factors is the Kraljic matrix. This study has the goal to provide an innovative implementation of Kraljic matrix as methodological basis for the interrelation Circular economy- Reverse logistics. It is highlighted by different figures an original framework which could be used for the demonstration of how work together Circular economy and reverse logistics. There are also suggested the actions to take in order to develop green market strategies. Classification-JEL: A00 Keywords: Circular economy, reverse logistics, Kraljic matrix, green market Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 13-20 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/13-20.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:13-20 Template-Type: ReDIF-Article 1.0 Author-Name: Aleksandar Shivarov Author-Email: a.shivarov@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Development of Trade in Organic Products in Central and South-Eastern Europe Abstract: The paper describes from a regional perspective the state of production and the markets for organic products in nineteen Central and South-eastern European countries. These markets share a number of common features: from customers' attitudes and levels of income, through production and distribution patterns, to export orientation. The article provides a review of the determinants of demand for organic products and presents the powerful drivers behind them. It checks the validity of global trends in the regional context. The scale of production and the underlying developments are outlined. The market is explored in terms of size, growth rates and expenditures per person. The competitive environment of several key markets in the region is examined, which generates insights for future expansion of the trade in organic products in Central and South-eastern Europe. Classification-JEL: A00 Keywords: organic products, organic food, Central Europe, South-eastern Europe Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 21-29 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/21-29.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:21-29 Template-Type: ReDIF-Article 1.0 Author-Name: Nedka Nikolova Author-Email: n.nikolova@tu-varna.bg Author-Workplace-Name: Technical University Varna Title: Economic Safety and Guarantees for Sustainable Development Abstract: Intensive processes of globalization, geopolitical crises and terrorism over the last decade have brought to the forefront new challenges related to creating a set of optimal conditions for achieving the Global Millennium Goals and the United Nations Program for Sustainable Development 2030: Transforming our world. Central position in this system is occupied by economic safety. Ensuring economic safety is a continuous, multi-dimensional and multi-level process of strategic management at all levels of the socio-economic system. An important role for the effectiveness of this process lies in the mechanisms through which it is realized. The main objective of the author in this report is the study of the essence, the component structure, the problems and the challenges to the management of economic safety and its relation to sustainable development. Classification-JEL: A00 Keywords: economic safety, sustainable development Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 30-39 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/30-39.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:30-39 Template-Type: ReDIF-Article 1.0 Author-Name: Vesselin Mitev Author-Email: ves_mitev@abv.bg Author-Workplace-Name: Sofia University of Mining and Geology Author-Name: Boryana Trifonova Author-Email: boriana_trifonova@abv.bg Author-Workplace-Name: Sofia University of Mining and Geology Author-Name: Borislava Galabova Author-Email: borislava_galabova@abv.bg Author-Workplace-Name: Sofia University of Mining and Geology Title: Labor Productivity in the Bulgarian Mining Industry Abstract: The report summarizes the trends in the labor productivity index of the Bulgarian economy for the period from 2000 to 2016. It represents a prediction of the International Labor Organization for its dynamic to 2021. The changes in the labor productivity of Bulgaria and the sector "Industry" are studied for the indicated period. They are determined on the basis of current prices and 2010 prices per employee and per working hour. The tendencies in this change of the labor productivity for the sector "Mining and Quarrying" for the period from 2008 to 2015 is described. A comparative analysis of the realized individual labor productivity of some representative Bulgarian mining enterprises with the average for the sector is made. Classification-JEL: A00 Keywords: labor productivity, mining industry, economic analysis, mining enterprises Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 40-48 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/40-48.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:40-48 Template-Type: ReDIF-Article 1.0 Author-Name: Boryana Trifonova Author-Email: boriana_trifonova@abv.bg Author-Workplace-Name: Sofia University of Mining and Geology Author-Name: Borislava Galabova Author-Email: borislava_galabova@abv.bg Author-Workplace-Name: Sofia University of Mining and Geology Title: Indicators for Measuring the Standard of Living - Theoretical and Applied Aspects Abstract: This study is devoted to the theoretical-applied aspects of the question about the indicators for measuring the standard of living. Its aim is to analyze, systematize and present them in their entirety and rich diversity. The study is based on the use of commonly accepted and widely known scientific methods. All indicators that directly or indirectly illustrate the state and dynamics of the standard of living have been analyzed. A critical review of the essence and key features of the indicators allows to highlight their main strengths and weaknesses. On this basis, some conclusions can be drawn about their application in modern socio-economic conditions. Classification-JEL: A00 Keywords: standard of living, macroeconomic parameters, economic well-being, economic development Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 49-57 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/49-57.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:49-57 Template-Type: ReDIF-Article 1.0 Author-Name: Aleksandrina Pancheva Author-Email: al.pancheva@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Gender Determinants of Bank Oerformance Through the Vision of Generation Y (Millennials) Abstract: The upper echelon in the banks nowadays consists of three generations, and they treat gender equality differently. For many years the gender determined management in the financial institutions and the presence of women in it was a taboo, an impossibility. But the change of the generations and the legal recommendations regarding the social responsibility gradually lead to elimination of the glass ceiling, and engagement of women in the upper echelons in this type of institutions. The time of the millennials has come. The time of the millennial women, too. They are the ones that are already joining, or are about to join, the top levels of the management. Are there prerequisites for successful bank performance as a result of the change of the generations and the incorporation of diversity in them? Do the millennial men accept the potential of the women in the management? Are they mediators of the new free vision about the gender determinant in banks management? Classification-JEL: A00 Keywords: gender equality, millennials Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 58-69 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/58-69.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:58-69 Template-Type: ReDIF-Article 1.0 Author-Name: Sevgi Mertkan Author-Email: s_e_v_g_i_@abv.bg Author-Workplace-Name: University of Economics - Varna Title: Measures for CSR in the Banking Industry Abstract: More and more companies are convinced of the importance and benefits of Corporate Social Responsibility (CSR). The CSR strategy (sometimes referred to as a sustainability strategy) is a key element in a company's competitiveness as it provides benefits from the point of view of risk management, cost savings, access to capital, customer relationships, human resources management and innovation capacity . Nowadays, CSR is also an integral part of the financial sector. Banks' contribution to sustainable practices is paramount given their unique position in the economy. Undertaking CSR activities not only improves banking ethical standards, but also affects the socially responsible behavior of their funded companies. Therefore, it is important to look at the concept of CSR through the prism of the banking sector, followed by a systematic review of reliable CSR measures in banking practice. Classification-JEL: A00 Keywords: corporate social responsibility (CSR), banking sector, measures, codes of conduct, ethical ratings, ethical indices Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 70-78 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/70-78.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:70-78 Template-Type: ReDIF-Article 1.0 Author-Name: Nadezhda Popova-Yosifova Author-Email: nadia_popowa@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Transparency of Disclosures on Credit Risk Management in the Financial Statements of the Banks Abstract: Nowadays the issue of managing the risks posed by financial instruments has taken up increasing relevance. In accordance with the provisions of the International Financial Reporting Standard (IFRS) 7 "Financial instruments: disclosures" banks should disclose information (qualitative and quantitative), that enables users of their financial statements to assess the nature and extent of the risks arising from financial instruments, including loans granted to customers. The aim of this research is analyze the disclosures on credit risk management in the annual financial statements of the biggest banks in Bulgaria (on the basis of total assets) for the period 2012 – 2016. Classification-JEL: A00 Keywords: financial statements, credit risk, banks Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 79-85 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/79-85.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:79-85 Template-Type: ReDIF-Article 1.0 Author-Name: Rumyana Marinova Author-Email: r_marinova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Accounting Aspects of UEFA Financial Fair Play Rules in Leading Professional Football Clubs in Bulgaria Abstract: The main objective of the Financial Fair Play regulations is to raise the discipline and rationality in football club finances, to encourage clubs to compete within their revenues, to protect the long-term viability of European football clubs, and to ensure the timely payment of their debts. To achieve this goal, UEFA requires each club to follow a set of specific rules for preparing financial statements in addition to those set out in accounting standards. Applying different approaches to reporting players, freelancers, and soccer players a prerequisite for compromising the principle of fairness and honesty. Classification-JEL: A00 Keywords: accounting, football players, UEFA, IAS 38,NAS 38, FFP regulations Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 86-95 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/86-95.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:86-95 Template-Type: ReDIF-Article 1.0 Author-Name: Tsvetomir Manolov Author-Email: wt_varna@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Opportunities for Assessing a Company's Creditworthiness Based on the Information from the Annual Financial Statements Abstract: To this day, there is no consensus among economists on the content of the concept of creditworthiness. According to some of them creditworthiness is the ability of the borrower to repay its obligations completely and in due time. Others argue creditworthiness includes not only the ability but also the willingness to repay obligations completely and in due time. The aim of this report is to present a system of indicators based on company's financial analysis due to various systems for creditworthiness assessment. Classification-JEL: A00 Keywords: analysis, creditworthiness, financial statements Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 96-99 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/96-99.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:96-99 Template-Type: ReDIF-Article 1.0 Author-Name: Atanas Atanasov Author-Email: atanasov_at@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Internally-Generated Goodwill - Problems and Approaches to Defining and Measuring It Abstract: The issue of accounting recognition and disclosure of internally generated goodwill (IGGw) acquires significant relevance in today's development of the markets. In a number of publications, it is part of the "hopes" for explaining the structure of the market value of public enterprises, which, according to recent research, is due to the value of non-reconized intangible assets rather than to tangible assets. The key question is whether, through the historical assessment, the goodwill that is created in an enterprise can be assessed at all, given that it is created over time and therefore its value is constantly changing and clarifying. These arguments require the search for alternatives to establish the value of IGGw. However, we believe that recognizing the internally generated goodwill as a separate accounting object should not be allowed. In order to obtain additional information that would be useful to consumers, we consider it is appropriate to make the reporting a separate part (as annex) to the annual financial statement. Classification-JEL: A00 Keywords: internally generated goodwill (IGGw), valuation, accounting, IAS 38 Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 100-109 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/100-109.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:100-109 Template-Type: ReDIF-Article 1.0 Author-Name: Galina Sabcheva Author-Email: sabcheva.galina@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Trends in Disclosures on Port Concession Fair Value Measurement Abstract: The article purpose is to propose and apply an indicator (disclosure index) to measure the compliance degree with fair value disclosure requirements for port concession based mainly on IFRS 13 Fair value measurement. As a result of the study, the estimated fair value disclosure index values are reduced with the assessment criteria increase. This trend can be associated with the Bulgarian enterprises inherent reserve about fair value measurement application of a wide range of assets and conservatism in the assets recognition when no reliable measure can be determined. It would be appropriate this hypotheses to be further explored in future research on the concession-holders` management reporting motives. Classification-JEL: A00 Keywords: disclosure index; fair value; port concession; measurement Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 110-121 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/110-121.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:110-121 Template-Type: ReDIF-Article 1.0 Author-Name: Stoyanka Petkova - Georgieva Author-Email: s.p.petkova@gmail.com Author-Workplace-Name: "Prof. D-r. Assen Zlatarov" University Title: Reasons Analysis for Increasing of Outsourcing Manufactures Activity Effectiveness Abstract: Theoretically, every item of service which is currently purchased from an outside supplier is a candidate for internal provision and vice versa. In reality the problem is not quite as extensive as this, since there will always be many resources which it would just not be in the manufactures' interest to provide them. Similarly, there will always be many resources which it would not be in manufactures' interest to purchase. By making an item or providing a service for their own selves the manufactures reduce their dependence on other companies and are able to determine their own quality levels and also they preserve their trade secrets. Conversely, to purchase rather than to provide may enable the option to obtain the resources more quickly, and to obtain the benefits of a continual development programme which otherwise could not sustain. Additionally, purchase instead of self-production may reduce costs such as those associated with storage, handling, paperwork, etc. as well as releasing the manufactures' facilities for jobs on which they might be more suitably and profitably employed. Classification-JEL: A00 Keywords: increasing of activity effectiveness, outsourcing manufactures, decision "make or buy", purchase instead of self-production Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 122-129 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/122-129.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:122-129 Template-Type: ReDIF-Article 1.0 Author-Name: Temenuga Stoykova Author-Email: tstoikova_uev@abv.bg Author-Workplace-Name: University of Economics - Varna Title: Role of Standardization for the Development of the Economy and Protection of the Interests of Consumers Abstract: Examined is the role of the standardization for the development of the economy and protect the interests of consumers. Established are the tasks and directions in which standardization contributes to economic development – provision of an advanced information, save resources, improve and management the quality, safety and the environment, the development of specialization, cooperation and international trade. Standardization activities are laid down to protect consumers' interests. Listed are the problems that lie ahead to solve in order to strengthen the role of consumers and reflect their interests in the standards. Classification-JEL: A00 Keywords: Role of standardization; economic development; standards; consumer protection Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 130-138 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/130-138.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:130-138 Template-Type: ReDIF-Article 1.0 Author-Name: Vanya Zhivkova Author-Email: v_jivkova@abv.bg Author-Workplace-Name: University of Economics - Varna Title: Opportunities for Utilization of Waste From Fruits and Vegetables Abstract: In the context of the implementation of environmentally friendly policies and in relation to the concept of integrated waste management, there has been a growing interest in the last years in the waste generated by different sectors of the food industry, including the waste produced in the production and processing of fruit and vegetables. The paper examines the possibilities for utilization of fruit and vegetable waste based on an overview and analysis of the data from the scientific literature. A descriptive-analytical approach was used. Classification-JEL: A00 Keywords: waste, fruit and vegetable waste, utilization Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 139-143 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/139-143.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:139-143 Template-Type: ReDIF-Article 1.0 Author-Name: Vanya Zhivkova Author-Email: v_jivkova@abv.bg Author-Workplace-Name: University of Economics - Varna Title: Use of Fruit and Vegetable Waste as a Source of Biomethane Abstract: Among the main factors that lead to the search for alternative sources of energy are environmental pollution and global warming. In the context of the drive to reduce greenhouse gas emissions and protect the environment, biofuels are a major alternative to traditional fossil fuels. The paper, based on a descriptive-analytical approach, presents opportunities for the use of fruit and vegetable waste as a source of biomethane. Classification-JEL: A00 Keywords: waste, fruit and vegetable waste, biomethane Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 144-147 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/144-147.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:144-147 Template-Type: ReDIF-Article 1.0 Author-Name: Rosen Nikolaev Author-Email: nikolaev_rosen@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Author-Name: Tanka Milkova Author-Email: tankamilkova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Applied Aspects of Optimal Positioning of Units in Logistics Systems Abstract: In the present research paper some applied aspects of the problem for optimal positioning of units in logistics systems are examined, aiming minimizing the transportation costs in order to secure communication between units. The authors base the research on their former theoretical studies in which they propose different approaches for optimization based on the analytical geometry methods. On that base the units in the logistics systems are treated as points in Cartesian coordinate system and the coordinates of such points are determined for positioning the units with an aim to minimize the overall distances between the interconnected units with assuming some given constraints. Classification-JEL: A00 Keywords: optimal positioning, units, logistics systems Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 148-157 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/148-157.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:148-157 Template-Type: ReDIF-Article 1.0 Author-Name: Mariana Kaneva Author-Email: kaneva_md@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Digital Divide of the Balkan countries - comparative statistical analysis Abstract: 'Digital divide' is a concept that has come in strong in both the politics of a certain country and the individual's lifestyle. 'Digital divide' is a concept that emerges in connection with the idea of the Information Society. 'Digital divide' is an inequality in the access and use of information and communication technologies (ICTs), both by different population groups and with regards to different geographic areas. In the past 10 years a number of 'indices' have been created to measure the 'digital divide'. This paper presents the results of the implementation of the main 'measures' of the digital divide of the Balkan countries for the period 2008-2016. Attention is also paid to inaccuracies related to the use of the so-called e-indices as a 'measure' for digital divide, digital readiness, and so on. A comparative statistical analysis was carried out on the basis of classical and well-established indicators for access and use of ICT in the individual Balkan countries. Classification-JEL: A00 Keywords: Descriptive statistics, Digital Divide; Index DAI; ICT Development Index (IDI), Network Readiness Index; Balkan countries Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 158-168 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/158-168.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:158-168 Template-Type: ReDIF-Article 1.0 Author-Name: Velina Yordanova Author-Email: v.yordanova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Cluster as a Form of Competitive for Regional Economics Abstract: The present report offers the opportunities for using the cluster as a form of organization that allows the regional economics to improve its competitiveness. The author attempts to investigate and clarify the nature of the cluster and to derive benefits from its formation. Classification-JEL: A00 Keywords: cluster, competitiveness, regional economics Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 169-173 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/169-173.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:169-173 Template-Type: ReDIF-Article 1.0 Author-Name: Slaveya Zhelyazkova Author-Email: sjeliazkova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: The Distribution of Daily Exchange Rate Returns Abstract: In this paper we describe the distribution of daily exchange rate returns (first differences of daily log exchange rates) of twelve currencies against USD (4310 observations). The results show that the distribution of exchange rate returns is leptokurtic and asymmetric and significantly deviates from the normal distribution according to all applied normality tests. We fit three distributions to the standardized first differences of log exchange rates - t-distribution, generalized error distribution and skewed t-distribution in order to capture the positive excess kurtosis and asymmetry in the empirical distribution. Several goodness-of-fit tests based on the empirical distribution function and Chi-Square test are applied and the results show that at least one of the three distributions fits the data well. Classification-JEL: A00 Keywords: exchange rate returns, distribution fitting, generalized error distribution, skewed t-distribution Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 174-186 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/174-186.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:174-186 Template-Type: ReDIF-Article 1.0 Author-Name: Snezhana Sulova Author-Email: ssulova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Trends in the Development of Open Source Software Platforms for the Creation of Online Stores Abstract: In order to meet the expectations of consumers and the businesses, open source software platforms for the creation of online shops are constantly being improved. The article analyzes the most popular software solutions of this kind in order to highlight the main trends in their development. The following ones have been analyzed: Magento Open Source, PrestaShop, OpenCart, Zen Cart, Drupal Commrece, Spree Commerce, WooCommerce, Jigoshop, Virtue mart, Ubercart and osCommerce. Systems improvement has been established in terms of functionality, content management capabilities, customer orientation, marketing tools, and integration with other enterprise applications. Classification-JEL: A00 Keywords: Open source software platforms, online store, e-commerce, trends Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 187-196 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/187-196.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:187-196 Template-Type: ReDIF-Article 1.0 Author-Name: Nadezhda Filipova Author-Email: filipova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: The Usage of Social Media in Business Process Management: Opportunities and Challenges Abstract: Integrating BPM (Business Process Management) with social media brings forth a new promising technology - social BPM. Social BPM provides a better communication and collaboration among the participants in the business process life cycle, and offers better opportunities for automating unstructured and highly dynamic business processes in knowledge intensive organizations. Moreover, social BPM creates conditions for continuous business processes improvement, as well as for increased level of customer satisfaction and product personalization. This paper reveals the basic characteristics and the advantages of social BPM. The opportunities for social media usage in the design, implementation, execution and assessment of business processes are explored. The driving forces of social media adoption in BPM are identified. Furthermore, some problems of social BPM are discussed. Classification-JEL: A00 Keywords: business process management, social business process management, social media Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 197-208 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/197-208.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:197-208 Template-Type: ReDIF-Article 1.0 Author-Name: Latinka Todoranova Author-Email: todoranova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Author-Name: Anita Todoranova Author-Email: a.todoranova@abv.bg Author-Workplace-Name: University of Veliko Tarnovo Title: Incorrectly Transmitted Computer Terminology and Strategies to Overcome Non-Equivalence Abstract: The role of the web applications in modern world is growing constantly. Along with this there is a more frequent discrepancy between their original interface and its Bulgarian version. It should be noted that it is meant the interface that is created in a language other than Bulgarian or its translated version. The incorrectly translated terminology results in difficulties when working with such applications. Thus the research paper describes some errors that emerge in the adaptation of the interface for Bulgarian consumers. In recent years, cloud–based file sharing and collaboration services such as Google Drive are very popular and they are used by a large number of users in Bulgaria. Therefore the researched errors are based on the analysis of the Bulgarian language interface of some of the popular Google applications. It has also been made an attempt to identify strategies for their removal. Classification-JEL: A00 Keywords: computer interface, incorrect translation, computer terminology, localization Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 209-216 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/209-216.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:209-216 Template-Type: ReDIF-Article 1.0 Author-Name: Yanka Aleksandrova Author-Email: yalexandrova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Developing Business Intelligence System in a Building and Construction Company Abstract: The paper represents the implementation of Self Service Business Intelligence System (SSBIS) in a concrete production company. A brief comparison of possible BI and analytics platforms was made and the chosen platform was Power BI Desktop. A data model was built using snowflake schema design pattern. In order to decide on implementation approach was performed a comparison between two main alternatives – with or without using OLAP cube. As a result, and according to predefined business criteria like total costs and short implementation period was decided to use direct query against the operational relational database. Using functional capabilities of Power BI Desktop were demonstrated several important measures and visualizations like cumulative sums, Pareto rule coefficient, customer profile, RFM score, etc. The process of building the SSBIS showed that a main problem was the lack of enough knowledge in business users of modern applicable analytics models and measures. Classification-JEL: A00 Keywords: Self Service Business Intelligence Platforms, Power BI, data analytics, BI, SSBI Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 217-224 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/217-224.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:217-224 Template-Type: ReDIF-Article 1.0 Author-Name: Stoicho Stoev Author-Email: s.stoev@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Integration of Risk Management Processes into the Business of IT Companies Abstract: Risk management should be part of any software development project and the integration of its management processes into the IT business. This leads to successful software development and improvement of the organizational activity of the IT company. In the area of risk management, we define two main levels: strategic and operational. Different processes are differentiated depending on their application in the design, implementation and maintenance stages of software products. It presents the attitude of the individual processes in risk management in the field of IT companies. Classification-JEL: A00 Keywords: IT risk, Information systems, Software risk, Management of risk Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 225-233 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/225-233.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:225-233 Template-Type: ReDIF-Article 1.0 Author-Name: Mihail Radev Author-Email: radev@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Using the TOPSIS Method to Evaluate Projects for Virtualization Abstract: The study focuses on six Multi-Criteria Decision Making (MCDM) methods, examines the characteristics of the methods, their advantages and disadvantages, fields of application. Technique for Order Preference by Similarity to the Ideal Solution (TOPSIS) method is studied and used. The procedure for implementing the step-by-step method is presented. Practical application of TOPSIS method is made in a situation when selecting a solution for virtualization of IT infrastructure in a sample company. The choice is among several possible alternative options for the deployment of desktop virtualization. Criteria, weights and points are defined by experts for each one of them. As a result, the ranking of the alternative options is obtained and used to select the best one. The conclusion is that using TOPSIS method allows the determination of a best alternative in a clear and easy way. Classification-JEL: A00 Keywords: TOPSIS, virtualization, Multiple Criteria Decision Making, MCDM Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 234-241 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/234-241.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:234-241 Template-Type: ReDIF-Article 1.0 Author-Name: Mariya Armyanova Author-Email: armianova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Approach to Creating Information System Development Design Patterns Abstract: The design patterns are proven solutions that improve the development process and help to create successful information systems. The design pattern is a good solution if its use brings more benefits than problems to the project. Some methods are considered for their creation and the general factors that influence their quality are defined. The article provides an approach that contains a sequence of steps for the design patterns' creation in the construction of an information system. It aims to put the process on a formal basis and help to overcome some of the problems associated with their creation. After design patterns' complex application, their advantages are achieved, so the developed systems to have a guaranteed level of quality, flexibility and a longer life cycle. Classification-JEL: A00 Keywords: Design patterns, approach, creation, sequence of steps Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 242-253 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/242-253.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:242-253 Template-Type: ReDIF-Article 1.0 Author-Name: Boris Bankov Author-Email: boris.bankov@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Extracting Top Trends from Twitter Discussions in Bulgarian Abstract: Social networks offer plenty opportunities and areas for scientific research to dabble in user opinion mining and text analysis. The short text messages that get posted online present unique challenges related to automatic categorization and annotation. An interesting problem is the natural language filtering of text messages. Due to the huge volumes and sparsity of textual data machine learning algorithms are being applied. In this paper we take a look at the way to extract twitter messages in real-time containing Bulgarian texts. We also measure Twitter`s accuracy in terms of language identification from a 10 day dataset between 1st and 10th of October 2017. We propose a step by step text preprocessing algorithm, suitable for sanitizing tweets. We apply kmeans++ algorithm to cluster the extracted data and choose representative words for each cluster during each day. Classification-JEL: A00 Keywords: twitter text mining, text clustering, social media, data mining, bulgarian text mining, bulgarian text clustering Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 254-259 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/254-259.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:254-259 Template-Type: ReDIF-Article 1.0 Author-Name: Bistra Nikolova Author-Email: bistra_nikolova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Nature and Characteristics of the Control Impact in the Area of Financial Control (Theoretical Concepts and Practical Aspects) Abstract: The study focuses on the nature and characteristics, the forms of manifestation and the practical realization of the control activity carried out by the financial control authorities in Bulgaria. As a result, it is concluded that the optimization of the control impact implies: provision of an adequate regulatory basis; the presence of competent, conscientious and motivated control bodies as well as the reduction of corruption to a level that does not endanger the normal functioning of the control institutions in society. On the basis of the study it is concluded that the interaction between the control bodies is a prerequisite for increasing the effectiveness of the control effect and realizing a synergic effect of the control. Classification-JEL: A00 Keywords: Audit; Control impact; Financial Control; Financial inspection; National Revenue Agency (NRA) Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 260-266 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/260-266.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:260-266 Template-Type: ReDIF-Article 1.0 Author-Name: Stefka Petrova Author-Email: s.petrova@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Author-Name: Pavel Petrov Author-Email: petrov@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: Economic Sciences Presentation in Various Classification Schemes Abstract: The purpose of this study is to reveal the role and scope of economic science in the various classification schemes used by libraries, scientific databases, and other organizations around the world. Only the most popular and modern classification schemes are covered - All Science Journal Classification (ASJC) - used by Scopuc, OECD Classification scheme - used by Web of Science, Universal Decimal Classification scheme - used in Bulgaria and most countries in Europe, Library of Congress Classification scheme - used in US, Dewey Decimal Classification system - used in US, Bliss Bibliographic Classification - used in UK, Nippon Decimal Classification - used in Japan, Chinese Library Classification, Library-Bibliographical Classification (LBC) - used in Russian Federation and BISAC Subject Headings List - used by Book Industry Study Group. The JEL Classification System is not covered due to its wide spread "by default" in economic literature. It is concluded, that the libraries around the world are using different classification schemes, and in these schemes the role and place of economic science varies. There is no unity about what should be the main fields of economic science. In some classification schemes, for one area are given priority, while in other classification schemes the same areas are not used. This lack of a unified classification of economic sciences hinders the definition of the scope of economic science. In most cases, a superset made from different classification schemes could be used for the scope definition. Classification-JEL: A00 Keywords: economic science, Scopus, ASJC, WoS, Universal Decimal Classification, library, classification Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 267-276 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/267-276.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:267-276 Template-Type: ReDIF-Article 1.0 Author-Name: Pavel Petrov Author-Email: petrov@ue-varna.bg Author-Workplace-Name: University of Economics - Varna Title: The HTTPS Protocol Usage in the Public Web Sites of Bulgarian Banks Abstract: The purpose of this publication is to summarize, systemize and analyze the collected data in the course of a survey conducted in the autumn of 2017 on the use of the HTTPS protocol in the public sites of banks in Bulgaria. The scope of the survey is limited to the public site of the particular bank, which explores the sites of all 22 Bulgarian banks licensed by the BNB at the time of the survey. When using text protocols (such as HTTP / 0.9 / 1.0 / 1.1) after listening to traffic, exchanged queries and responses can easily be read, even without the use of complex technical means. In many cases, it is necessary to exchange confidential data (passwords, bank card payment numbers, personal information, etc.) and HTTPS protocol (also known as "HTTP Secure", "Secure HTTP", "HTTP over SSL, HTTP over TLS, etc.). The use of a secure connection increases the load on the client and the server in terms of busy CPU time and the amount of RAM, but in recent years this is not considered a serious argument given the great benefits of link security. The trend over the past years has made HTTPS more and more used as the default protocol when setting hyperlinks in web pages and to be used by default by web applications. Classification-JEL: A00 Keywords: Bulgarian banks, HTTPS, HTTP, web site, SSL, TSL, certificates Journal: IZVESTIA, JOURNAL OF THE UNION OF SCIENTISTS - VARNA, ECONOMIC SCIENCES SERIES Pages: 277-285 Issue: 2 Year: 2017 Month: November File-URL: http://www.su-varna.org/izdanij/2017/ikonomika-017-2/277-285.pdf File-Format: Application/pdf Handle: RePEc:vra:journl:y:2017:i:2:p:277-285