CEEOL - Advanced Search

New Forms of Violence – an Attempt at a Criminal-Law Assessment

Author(s): Patrycja Palichleb / Language(s): English / Issue: 1/2023

Keywords: Criminal Code;violence;internet;cybersecurity

This article attempts to look at selected new phenomena that have the characteristics of violence or are more or less associated with violence. The author presents the main characteristics of flam‑ ing, sexting (including sextortion), exclusion and happy slapping, while attempting to answer the question of which provisions of the Criminal Code they may involve. The problem of other selected phenomena concerning violence and crimes on the network which have recently gained the atten‑ tion of the media and researchers, is indicated.

More...

Municipalities’ Sports Policy Documents in Poland (ECPRD Request No. 5287)

Author(s): Olga Olkowska / Language(s): English / Issue: 1/2023

Keywords: physical culture;sport;local government units;municipalities

The author discusses the legal solutions regarding strategic documents in the field of physical culture and sport, as well as financing of sport by municipalities. She presents available forms of providing services in the field of physical culture by local government units in Poland. She describes municipalities’ sports development programs, examples of municipalities’ measures to increase the level of physical activity and engagement in sports activities of citizens as well as to promote the development of local economies through sport. She also discusses examples of public-private partnerships in sport.

More...

The right of access of water and sanitation (ECPRD Request No. 5301)

Author(s): Elżbieta Berkowska / Language(s): English / Issue: 1/2023

Keywords: water;sanitation system;water supply systems

The opinion assesses the situation of citizens’ access to water and sanitation systems and the qual‑ ity of water supplied to them by water supply systems in Poland since the adoption of the resolu‑ tion of the United Nations General Assembly of 28th July 2010 Recognizing the Human Right to Water and Sanitation. The provisions regulating the right of citizens to the common use of water and access to water services (including, inter alia, collection and treatment of wastewater), as well as requirements for the quality of water intended for human consumption, were analysed.

More...

Legal solutions regarding wiretapping (ECPRD Request No. 5334)

Author(s): Szymon Kondej / Language(s): English / Issue: 1/2023

Keywords: wiretapping;operational control

The author analyses the provisions which regulate the use of wiretapping in the Polish legal order. He describes the legal solutions concerning the authorization of operational control, the methods of carrying it out and the limits of such control, as well as the legal usability of evidence obtained through wiretapping. The author also discusses the regulations on the methods of storage and subsequent destruction of evidence obtained in this form of operational control.

More...

Mediation in the Polish Insurance Market

Author(s): Bartosz Kucharski / Language(s): English / Issue: 60/2023

Keywords: contract of insurance; insurance market; insurance disputes; ADR, mediation.

Artykuł dotyczy mediacji jako jednej z alternatywnych metod rozstrzygania sporów na polskim rynku ubezpieczeniowym. Autor umiejscawia mediację wśród innych alternatywnych metod rozstrzygania sporów ubezpieczeniowych, przedstawia jej cechy oraz zalety w porównaniu do procesu sądowego. Wskazuje, że w Polsce mediacja jest niezwykle rzadko wykorzystywana do rozstrzygania sporów ubezpieczeniowych oraz że większość mediacji z zakresu ubezpieczeń prowadzona jest przez Ośrodek Mediacyjny Sądu Polubownego przy Komisji Nadzoru Finansowego. Przyczyn takiego stanu rzeczy autor upatruje m.in. w relatywnej nowości mediacji oraz braku wiedzy o niej, taktyce ubezpieczycieli polegającej na negowaniu swojej odpowiedzialności do końca, jak również w mentalności ubezpieczających i przyzwyczajeniach ich pełnomocników.

More...

Dispute Resolution in the Market for Insurance Distribution as one of the Tasks of Supervisory Authorities – Selected Issues

Author(s): Monika Szaraniec / Language(s): English / Issue: 60/2023

Keywords: dystrybutor ubezpieczeń; klient; Rzecznik Finansowy; Komisja Nadzoru Finansowego; spory transgraniczne; nadzór.

Celem niniejszego opracowania jest wskazanie niektórych zadań organów nadzoru mikroostrożnościowego (EIOPA i KNF) w zakresie pozasądowego rozwiązywania sporów na rynku dystrybucji ubezpieczeń, które mogą bezpośrednio dotyczyć klientów dystrybutorów ubezpieczeń. W drugiej części artykułu zostały przedstawione zadania organów nadzoru mikroostrożnościowego, które rozwiązują problemy na rynku dystrybucji ubezpieczeń poprzez pośrednie oddziaływanie na klienta oraz poprzez zapewnienie bezpieczeństwa klientowi – przykładowo omówione zostało rozwiązywanie sporów transgranicznych przez EIOPA.

More...

Actio directa and Indirect Consequences of Damage in the Conflict-of-law Perspective

Author(s): Aneta Paleczna / Language(s): English / Issue: 60/2023

Keywords: szkoda pośrednia; prawo właściwe dla roszczeń osób pośrednio poszkodowanych; actio directa

Actio directa a pośrednie następstwa szkody w aspekcie kolizyjnoprawnym Problematyka osób pośrednio poszkodowanych jest rozważana w wielu jurysdykcjach europejskich i pozaeuropejskich ze względu na to, że tradycyjna doktryna kompensacji szkody opiera się na osobie bezpośrednio poszkodowanej. Tym większego znaczenia nabiera ustalenie właściwości prawa dla cywilnoprawnej odpowiedzialności za śmierć człowieka w sprawach o charakterze transgranicznym. Na tym tle na szczególną uwagę zasługuje wyrok Trybunału Sprawiedliwości z dnia 10 grudnia 2015 r., C-350/14 w sprawie Florin Lazar przeciwko Allianz SpA, w którym przyjęto, że do tego zagadnienia należy zastosować prawo miejsca wystąpienia szkody bezpośredniej, poniesionej przez bezpośrednio poszkodowanego. Roszczenia odszkodowawcze formułowane przez osoby pośrednio poszkodowane wymagają również analizy w kontekście dopuszczalności kierowania ich bezpośrednio przeciwko ubezpieczycielowi osoby ponoszącej odpowiedzialność za szkodę (actio directa).

More...

CONSTRUCTION IN THE GLOBAL ECONOMY: ASSESSING ITS IMPACT ON ECONOMIC GROWTH

СТРОИТЕЛСТВОТО В ГЛОБАЛНАТА ИКОНОМИКА: ОЦЕНКА НА ВЪЗДЕЙСТВИЕТО МУ ВЪРХУ ИКОНОМИЧЕСКИЯ РАСТЕЖ

Author(s): Tatjana Ackovska / Language(s): English / Issue: 8/2023

Keywords: construction; GDP; economic growt; construction growth rate

The globalization of the world economy is characterized by the great interdependence of national economies. Countries around the world are interconnected in a multidimensional network of economic, social, and political connections. The high degree of globalization, through the trade and financial integration of economies, affects the development of individual economies, but also the development of the global economy. For construction, the globalization of the world economy has meant a trend that has opened a lot of opportunities for construction companies and at the same time many challenges. In the global economy, the construction sector is one of the most important sectors and is characterized by its features and characteristics. Construction has a multi-faceted impact on the global economy and plays a vital role in driving economic growth. Its contributions to GDP, job creation, investment, infrastructure development, and technological innovation make it a significant driver of economic activity in both developed and developing countries. However, careful planning, regulation, and sustainable practices are essential to maximize the positive impact of construction on economic growth while mitigating potential risks and negative externalities.

More...

FUNCTIONS OF INSURANCE

ФУНКЦИИ НА ЗАСТРАХОВАНЕТО

Author(s): Goran Kiprijanovski / Language(s): English / Issue: 8/2023

Keywords: risk; protect; insurance policy; premiums; society; providing security

The purpose of insurance is to share the loss resulting from a certain risk among multiple people exposed to it and agree to insure themselves against it. The most critical role of insurance is to disperse risk across a group of people insured against it, share the loss of each member of society based on the likelihood of loss to their risk, and protect the insured from losses. The main function of insurance is to protect the financial interests of the customers at the time of loss. The insurance premiums are calculated on the basis of probable loss that could happen during a particular period of time and the premium is charged accordingly. The time and amount of loss are uncertain and after the happening of loss, the customer would suffer loss in the absence of insurance. Having a valid insurance policy can reduce the chance of loss and thereby protecting the financial interests of the customer. Functions of insurance are to spread the loss caused by a particular risk over several persons, who are exposed to it and who agree to insure themselves against the risk. The most important function of insurance is to spread the risk over a number of persons who are insured against the risk, share the loss of each member of the society on the basis of the probability of loss to their risk and provide security against losses to the insured. The insurance functions are the system to spread the risk over several persons who are insured against the risk and sharing the loss of each member of the society based on the probability of loss to their risk and providing security against losses to the insured.

More...

MARKETING OF COMPANIES FROM THE WINE SECTOR

МАРКЕТИНГ НА ФИРМИ ОТ ВИНАРСКИЯ СЕКТОР

Author(s): Zlatko IVANOVSKI / Language(s): English / Issue: 8/2023

Keywords: Information; business; market; organizations; strategy; consumers

Marketing is important in every industry. It is the science that combines exploration, creation, communication, and delivery of value, so as to satisfy the needs of a particular target audience. It is the duty of marketing to define, measure and quantify the size of the identified market, and tap into its potential. Without a marketing strategy, it is difficult for businesses to succeed. In organizations that recognize of the importance of marketing, a product or service is never launched without a prior marketing plan based on concrete data. Main aim of a marketing strategy is to win clients’ loyalty. Wine connoisseurs are “anti-loyal”. They always look for new countries, terrariums, varieties, blends and wineries. Understandable, wine is a boundless ocean of aromas and flavours, it’s hard to stop “the journey” :) In wine business you have to always jump over your head in your marketing activities. Here are a few known marketing tactics working great in wine industry For wine experts, knowing which grape variety comprises the drink, their age, and reserve is enough information to make a confident decision. For others, the sheer number of options makes it difficult to choose. Which wine will go best with a particular dish? Which has a stronger flavor? Which has a softer texture? This lack of knowledge eventually leads consumers to choose a wine based on its aesthetic.

More...

Bulgarian Economy on the Verge of Euro Area – Current Challenges and Medium-Term Projections

Author(s): Dimitar Zlatinov,Grigor Sariisky,Victor Yotzov,Iana Paliova,Katerina Vojcheska-Nikodinoska,Sonya Georgieva / Language(s): English / Issue: 7/2023

Keywords: economic dynamics; labour market; fiscal sustainability; foreign trade; banking sector; capital market; macroeconomic projections; economic policy recommendations

The paper examines the current state and development of the Bulgarian economy in 2022 and the first quarter of 2023 considering domestically determined and regional factors and processes. We analyse the real sector of the Bulgarian economy by tracing the dynamics of economic activity (GDP, inflation, and unemployment) considering internal and external factors affecting inflation dynamics and labour market processes. The sustainability of the fiscal sector is viewed through the possibilities of financing the green and digital transition using EU funds and programmes, and the policies needed to preserve the fiscal stability. Prospects for foreign trade are discussed in terms of the economic situation and expectations of Bulgaria's main trading partners, considering the high connectivity with the euro area and the structural specificities of foreign trade relations. The analysis of the financial sector (banking sector and capital market) focuses on the implications of the monetary policy pursued by the European Central Bank and the regulatory actions of the Bulgarian National Bank, as well as on the risks for the stable functioning of the sector in a dynamic macroeconomic environment. Expectations and forecasts for the Bulgarian economy to 2025 are based on key assumptions about the global economic processes and locally determined challenges. Recommendations are made to the national economic policy aimed at preserving the purchasing power of the population's income and the need to restructure certain fiscal measures.

More...

Does Democracy Matter for Economic Growth? Empirical Evidence from Indonesia

Author(s): N. Nuzulman,Raja Masbar,B. S. Nazamuddin,M. Shabri Abd. Majid / Language(s): English / Issue: 7/2023

Keywords: Democracy indices; investment; economic growth; regional development; Indonesia

This study aims to empirically examine the mediating effect of investment on the relationship between democracy indices (i.e., civil freedom, political freedom, and democratic institutions) and economic growth across 33 provinces in Indonesia over the period from 2012 to 2020. Using a dynamic panel data regression of the Generalized Method of Moments (GMM) within the path analysis framework, the study found that investment, political freedom, and democratic institutions have promoted Indonesia’s economic growth, while civil freedom has deteriorated the economic growth of the country. In addition, investment has partially mediated the effect of the democracy indices on Indonesian economic growth. These results suggest the importance of providing more political freedom and democratic institutions and limiting civil freedom to promote investment and consequently boost economic growth.

More...

BRICS Countries in a Period of Uncertainty and Turbulence: Opportunities for the Formation of a New Configuration of the Global Economy

Author(s): Irina Kosorukova,Alexander Voronov,Ekaterina Mirgorod,Svetlana Lupacheva,Olga Trubetskaya / Language(s): English / Issue: 7/2023

Keywords: BRICS; emerging economies; G7; socio-economic uncertainty; turbulence; crisis; adaptation and development strategy; economic potential; scientific and educational potential; digital potential

The increasing uncertainty and turbulence of the external environment create new conditions for achieving global leadership. The study aims to conduct a comparative assessment of the economic, scientific, educational, and digital potential of the BRICS countries under conditions of uncertainty to identify opportunities to strengthen their leadership position in the global economy. The article presents the author's vision of the causes and factors of increasing uncertainty and its impact on modern states. The article proves the hypothesis that the BRICS countries are increasing their economic, scientific, educational, and digital potential in comparison with the developed countries of the G7. It concludes that the BRICS countries are superior in economic potential and lag in terms of scientific, educational, and digital potential. It is argued that the uncertainty and turbulence caused by the 2020-2021 pandemic helped the BRICS countries to increase their potential and align their positions with the G7 countries. The identification of the strengths and weaknesses of the BRICS national economies allowed the authors to identify their points of growth in the implementation of the outperformance strategy. It was determined that the most appropriate development strategy for the BRICS countries under conditions of uncertainty is an ambivalent adaptation strategy that allows them to increase their influence in the global economy.

More...

Main Pillars Building Up the Risk Frame of Industry 4.0 Implementation in the Enterprises in Bulgaria

Author(s): Borislav Nikolov / Language(s): English / Issue: 7/2023

Keywords: Industry 4.0; Risk; Risk frame; Enterprises in Bulgaria

Development of the technologies is a part of the modern world and modern business. The realization of extended changes, that have been imposed by Industry 4.0, is a very serious challenge for enterprises and in most cases have a high-risk ratio.The goal of this article is to define the main risk components forming the risk frame of Industry 4.0 implementation in enterprises in Bulgaria. In this relation, research has been made, giving the opportunity for a definition of the already mentioned components of the risk frame. The research has been made on the basis of a questionnaire survey, covering 91 enterprises in Bulgaria. On this basis, eight main components are defined, which mainly determine the risk framework for the implementation of Industry 4.0 in enterprises in Bulgaria. A number of weaknesses and omissions have been outlined, which confront the realization of Industry 4.0 in Bulgarian enterprises. The risk variation in these components has also been studied, covering six risk areas identified as key risks in the researched enterprises. All this determines the current level of a significant part of enterprises in Bulgaria in the field of implementation of Industry 4.0 and also provides guidelines for taking measures to limit the impact of risk.

More...

Leadership, Adaptability and Performance of Bulgarian Organizations – Cultural Reflections on Empirical Data

Author(s): Irena Mladenova,Tsvetan Davidkov / Language(s): English / Issue: 7/2023

Keywords: transformational leadership; organizational ambidexterity; adaptability; organizational performance; behavioural and cultural reflection

This article interprets data from several empirical studies in Bulgaria in three areas of research interest – transformational leadership, adaptability, and organizational performance. The first study examines transformational leadership's influence on adaptability and organizational performance. It formulates two hypotheses and tests them by using data from a broader study on organizational capacity for change among employees and managers in organizations in Bulgaria. Two hierarchical regression analyses confirm the direct and positive influence of transformational leadership on adaptability and organizational performance. Results from an additional set of research studies are used to expand the context for understanding and exploring the three areas of interest. The empirical data for these were collected through five observations on the national and organizational cultures according to Hofstede's methodology. Thus, the article’s combined approach of looking at the data from unrelated studies is believed to strengthen the cognitive possibilities in the interpretation of the researched areas and established regularities. The main results point at high values observed for all three variables in Bulgaria. Cultural interpretation of some of the indicators through the years confirm these results and point at unidirectional and stable trends for some (such as growing care for employee development as part of the transformational leadership scale and weakening uncritical following of rules as part of the adaptability scale). There is reason to argue that training is more valuable to employees than job security (both part of the organizational performance scale).

More...

DCF Valuation: the Interrelation between the Dynamics of Operating Revenue and Gross Investments

Author(s): Dimiter Nenkov,Yanko Hristozov / Language(s): English / Issue: 7/2023

Keywords: company valuation; DCF enterprise valuation model; net operating working capital; capital expenditures; operating free cash flows

The current research paper explores some key aspects of the application of the DCF enterprise valuation. This paper presents the second part of a broader study by the authors, which is focused on the analysis of key input variables, predetermining the amount of free operating cash flows as an important part of the application of DCF valuation models. Here are the most serious prerequisites for deviation of forecasts from reality, which often leads to a significant distortion of the final valuations of enterprises. This provokes the research on the interdependence between the five main input variables and especially between operating revenue on the one hand, and the different expenditure groups, on the other hand, is required. In the first part of this research, the relationship between operating revenue and operating expenditures was investigated. In the present research paper, the relationship between operating revenue and gross investment expenditures is investigated, including the increase in net operating working capital and capital expenditures. The research was again carried out on the basis of aggregated data for all non-financial enterprises in Bulgaria for the period 2008-2020. The results are generally ambiguous, but in the medium and long term, at least for some of the largest sectors explored, relatively representative and sustainable averages are established for the relative share of net operating working capital and capital expenditures to revenues. There are no strong arguments against forecasting gross investment costs based on their historical averages as a percentage of operating revenue.

More...

Implementation of Hulontalo Ethnic Values in Small and Medium Businesses (SMEs) Financial Decision-Making

Author(s): Muh. Sabir Mustafa,Ubud Salim,Nur Khusniyah Indrawati,Siti Aisjah / Language(s): English / Issue: 7/2023

Keywords: Culture; Ethnic; the value of entrepreneurship; Capital structure; Financial behavior; Financial Decisions; Decision-making

This study aims to explore and understand the implementation of Hulontalo ethnic values in SME's financial decision-making. The determination of informants begins with the decision of the key informant; then, the appointment of informants is developed during field searches using the Snowballing Sampling technique. The informants in this study were as many as nine people. An entrepreneur must have skills in managing his business, expertise in making quality products and implementing the values of Adati Hula-hula'a to Sara'a, Sara'a Hulahula'a to Kuran, which support the theory. There are three implementations of Hulontalo ethnic traditional values in financial decision-making: piyohu, Dilapottitilandingo, and payango. This research was hoped to support the pecking order theory and obtained a new indicator that can be considered for an individual in making financial decisions, namely Daadata Tilapulo (productivity).

More...

Primary Elements of the Publicized Organizational Culture of Higher Education Institutions in Bulgaria

Author(s): Ilian Minkov,Denka Zlateva / Language(s): English / Issue: 7/2023

Keywords: higher education institutions; publicized organizational culture; mission; vision; values/principles

The visualization of the strategic priorities of the universities in the digital space is a key task of academic management in the conditions of a dynamic educational environment and globalization. Proclaiming the official organizational culture on the Internet is essential for improving the image of educational institutions. The purpose of this study is to explore and identify the main priorities when publishing online the organizational culture of higher education institutions, with an emphasis on its primary elements and to reveal their general features, specifics and purpose. It was established that the primary element of utmost importance for universities is the mission and that the least important is the organizational vision. It is concluded that universities should more actively proclaim vision and values in addition to the mission, in order to create a complete portfolio of key elements of the organizational culture and thus build the desired image.

More...

The Effect of Financial Risk Management on the Financial Performance of Commercial Banks in Western Balkan Before and During COVID-19

Author(s): Agnesa Krasniqi Përvetica,Skender Ahmeti / Language(s): English / Issue: 7/2023

Keywords: Banking Sector; credit risk; liquidity risk; solvency risk; financial performance

Financial management crises all over the world have demonstrated the need for risk management techniques for businesses seeking to maintain shareholder and consumer support. The purpose of this study is to assess the impact of risk management on the financial performance of commercial banks in the Western Balkans (WB) before and following COVID-19 for the years 2016-2021, with 40 commercial banks selected to represent all WB countries’ commercial banks as a whole. The study revealed that risk management has a significant impact on the financial performance of WB commercial banks as assessed by Return on Assets (ROA) and Return on Equity (ROE). The research was done through the panel regression using fixed and random effect, whereas a dependent variable we have ROE and ROA and as independent variables, we have Solvency risk, Liquidity Risk and Credit Risk and COVID-19 as a dummy variable. Based on the panel regression model, it is found that the four independent variables have a significant impact, in the dependent variable. The results of this study lead us to recommend that central banks maintain strict rules about the minimum amount of equity required or the requisite ratios for deposits and loans. Since credit risk has a detrimental effect on the profitability of commercial banks, keeping a tight eye on lending activities and paying special attention to non-performing loans is also crucial.

More...

Trends in the Development of the Structure of the Agricultural Holdings in Bulgaria

Author(s): Annie Dimitrova / Language(s): English / Issue: 7/2023

Keywords: agriculture; production; trends

Bulgarian agriculture has to correspond with the goals for sustainable growth of food production in order to create and develop more productive, economically efficient and ecological agricultural holdings. Tracking the trends in the development of the structure of the agricultural holdings outlines the current state, the problems and the opportunities in the sector. The aim of the paper is to present the main trends in the structure of the agricultural holdings in Bulgaria in the sector for the period 2000-2020. The paper uses data from the agrarian reports of the Ministry of Agriculture and the last three national censuses of the agricultural holdings of the National Statistics Institute.

More...