CEEOL - Advanced Search

The flipped classroom in 2022: good practices from Varna University of Management

Author(s): Ina Stanoeva / Language(s): English / Issue: 18/2022

Keywords: flipped classroom; classroom; Higher education; teaching

The purpose of this article is to present some good practices from Varna University of Management related to the flipped classroom approach. We give few examples from the modules – Marketing Communications, Marketing research, Business and Academic English, Project Management. We discuss the advantages and disadvantages of the approach.

More...

Day-of-the-week effect on Romanian foreign exchange market during quiet and turbulent times

Author(s): Razvan Stefanescu,Ramona Dumitriu / Language(s): English / Issue: 18/2022

Keywords: DOW Effect; persistence in time of the calendar anomalies; Romanian foreign exchange market

Some calendar anomalies could have different characteristics during quiet and turbulent times. This paper approaches the behavior of day-of-the-week (DOW) effect on the Romanian foreign exchange market for three periods: January 2010 - December 2014, January 2015 - December 2019 and January 2020 - August 2022. The results suggest there were differences between characteristics of the DOW effect in quiet and turbulent circumstances.

More...

Using fundamental data to help predict market movement

Author(s): Vladimir Zakov / Language(s): English / Issue: 18/2022

Keywords: fundamental analysis

“Beating the market” has been of interest to researchers and investors for a long time. As early as 1900, Louis Bachelier (Bachelier L. 1900) notes that the dynamics of the stock exchange will never be an exact science, however it is possible to mathematically study the state of the market at a given moment and try to calculate probabilities of market movements. He concludes that past, present and future events often do not show relationship to price movements. Since then, different research has found different evidence about the predictability of market movements. This paper aims to explore financial statement items and which of them have the strongest predictive power in relation to stock price movements. The popular information gain metric is empirically calculated for items in the financial statements of a group of US companies and the results are presented on a sector basis.

More...

An information system for the evaluation of blockchain smart contracts' effectiveness

Author(s): Alexander Panayotov / Language(s): English / Issue: 18/2022

Keywords: information system; blockchain; smart contracts; measuring effectiveness; index of effectiveness

Blockchain smart contracts have quickly become a focal point of research and development. Their autonomous, decentralized, transparent and secure nature allows for enforcement of agreement between multiple parties, with no need for trust as a prerequisite and no intermediaries to facilitate the relationship. However, this shift in paradigm, the significant difference with conventional software, and a variety of decentralization specifics has made development of reliable and effective smart contracts extremely difficult. The tendency has been shown by the short, yet turbulent history of smart contracts, full of numerous attacks, exploits, thefts, and failures. In this paper, the authors address this by developing an information system for the automated evaluation of the effectiveness of blockchain smart contracts. The system implements a previously created formal model that is used to calculate the effectiveness of a smart contract, based on specified factors. The information system provides as a result the level of effectiveness in the form of an output metric called Smart Contract Index of Effectiveness, which quantifies the level of potential risk to the effectiveness of a smart contract. System requirements, architecture, technologies and process are discussed. Direction for future development of the information system and further specification of its scope and functionality is also provided.

More...

Education theories and best practices in the field of blockchain

Author(s): Alexander Panayotov,Petko Ruskov,Georgi Mitev,Deyan Parushev,Petar Blagov / Language(s): English / Issue: 18/2022

Keywords: education; training; DLT; blockchain; best practices; EBSI

Purpose – to present the state of the art of blockchain education for students, experts and teachers in the world and Bulgaria, and to share the experience of the authors in the field. A specially designed methodology, based on a deep literature review, analysis and synthesis, the long experience in education, and results of implementing it are described. Information sources include best practices, written material, provided by the web and the students, teachers’ observations, and group discussions during the planning of the education. Practical implications – the practice, curricula and extracurricular development can facilitate stakeholders to formulate and implement a blockchain educational environment. The explanation could lead other authors and teachers to achieve different and better syllabuses and innovations in the blockchain education processes. The value of the paper is in the survey and the practical presentation of the leading innovative blockchain theories and practices. Based on the practice of following and implementing blockchain education innovative examples, these papers will add value and allow further improvement and growth of education and blockchain, including EBSI (The European Blockchain Services Infrastructure) capacity building.

More...

A GENERAL METHODOLOGY FOR STUDYING THE IMPACT OF DIGITALIZATION ON INDIVIDUALITY AND BEHAVIOR IN AN ORGANIZATIONAL ENVIRONMENT

Author(s): Ivaylo Iliev / Language(s): English / Issue: 18/2022

Keywords: Impact of digitalization; Organizational behavior; Methodology

The methodology presented and described in the present study empirically studies attitudes towards digitization and the related main processes affecting personal, interpersonal and professional relationships. It also affects issues related to existing addictions to digital devices on the part of users, as well as the protection of digital information. The questionnaire is divided meaningfully into different modules. The first one consisting only of sociological questions, while the next three are thematically focused. Each of the modules has been tested for reliability and can be used independently or as part of a larger study. Depending on the method of use and the use of the methodology by different researchers, different research goals and tasks can be formulated. In the present paper, such goals and objectives are described as to illustrate the possibility of using the proposed methodology.

More...

Adoption of e-government by the Bulgarian citizens - current state and general trends at the end of the COVID-19 pandemic

Author(s): Radoslav Rizov,Nikolay Netoff / Language(s): English / Issue: 18/2022

Keywords: COVID-19; digitalization; e-government; public services

This paper contributes to the e-government adoption research by analyzing the results of our Bulgarian national representative survey conducted between June and August 2021, based on restricted survey participants had not accessed any Bulgarian e-government service in the past 12 months prior to the survey. (n = 385). An exploratory factor analysis (EFA) was conducted with Varimax rotation and a critical factor assignment value of 0.5. The obtained results define as the largest group of respondents (37%) for whom the leading factor is the quality of the e-government services, and the other factors have significantly less importance for them. For the second largest group (24%), the most significant reason for not using e-government services is a lack of digital identity. The third most important factor is related to the perception of e-government services as risky.

More...

Using moral suasion in monetary policies of emerging economies: the case of Romania

Author(s): Ramona Dumitriu,Razvan Stefanescu / Language(s): English / Issue: 18/2022

Keywords: monetary policy; moral suasion; emerging economies

In implementing monetary policies, the central banks could resort to moral suasion for influencing the behavior of various categories of economic actors. Among the quite frequent forms of moral suasion applied by the central banks there are forward guidance and the negotiations with commercial banks or other financial institutions. In the case of monetary policies from some emerging economies, various circumstances could bring some particularities to moral suasion. This paper approaches the moral suasion in the monetary policy of Romania during two periods: the transition from socialism to capitalism and the years that followed the adhesion to European Union. At the beginning of transition when, because of the high inflation and of the national currency devaluation, the credibility of the central bank authorities was at a low level, making the forward guidance very difficult. Instead, for the central bank, that was de facto subordinated to the Government it was quite easy to negotiate with state-owned commercial banks. As the reform of the banking system progressed and a relative monetary stability was achieved, the forward guidance became an important tool of the monetary policy, especially after the central bank had explicitly adopted the inflation targeting. After the transition, in a complex context, the moral suasion remained an important tool of the monetary policy.

More...

Environmental, Social and Governance (ESG) challenges confronted by the banks

Author(s): Sergey Borisov / Language(s): English / Issue: 18/2022

Keywords: Sustainable development; Ecology; Climate; Taxonomy

This study aims at examining the evolution of the Environmental, Social and Governance (ESG) Investing in the EU, classification of the ESG methodology and the time frame, and the analysis of the level of application of the accepted standards, politics and recommendations.

More...

Linear programming application in optimal control of an inventory

Author(s): Andrey Yonchev / Language(s): English / Issue: 18/2022

Keywords: optimization; inventory systems; decision-making; linear programming

In this paper we consider the application of the Markovian decision processes for decision making in defining an optimal policy in order to control inventory systems. We assume that the demand process has a stochastic nature and can be described using a Poisson distribution. To define an optimal control policy, based on the Markovian decision processes we use a proper cost structure, sets of possible solutions and final number of states, described applying a proper transition matrix. In order to realize the optimal control policy we use the linear programming approach.

More...

FIDIC and digital technologies in construction project management. Building information modelling

Author(s): Ana-Maria Valkova / Language(s): English / Issue: 18/2022

Keywords: BIM, Building information modelling; FIDIC; Construction industry; Digital technologies

The purpose of this research paper is to synthesize the specific positions and provisions that BIM (building information modelling) introduces in the context of the FIDIC contractual terms. Although the construction industry is positively shifting from the traditional design-build model to BIM, the legal corridors for transfer are very slow to keep up with the development of the economy and the change in technology. This study will also establish that when project management processes are integrated with BIM purposes, deliverables, and information management, the BIM model's value as a single source of truth is maximized. With regard to investors, contractors, and builders, the more practical application of FIDIC books and BIM principles will speed up the construction process and facilitate the establishment of proper, adequate, and mutually beneficial relations. The important thing is figuring out how the usage of BIM can coexist with the FIDIC form of contract.

More...

Contemporary methods and trends in construction waste management

Author(s): Ralitsa Kusheva / Language(s): English / Issue: 18/2022

Keywords: construction and demolition; waste management; contemporary methods; good practices; sustainability

Sustainability is a term which has acquired a key role and importance in various industries, and the construction and demolition waste sector does not remain excluded from these discussions. Sustainable construction and demolition waste management requires that good practices be incorporated and followed, from foundational waste management principles and hierarchies to more vanguard digital solutions, where possible. This article makes an overview of the contemporary methods and trends in construction waste management and summarizes the most efficient ones, which result in reusable building materials, looking at them from the angle of cost-benefit ratio and applicability in the construction landscape in Bulgaria, where good practices are still only partially adopted.

More...

Intracompany Statement of Gains from Sale of Products – a Source of Information for the Analysis of the Performance of Enterprise’s Principal Activity

Author(s): Rosica Ivanova / Language(s): English / Issue: 18/2022

Keywords: financial performance; full cost; analysis; return of sales; methodology

In general, the biggest share of the industrial enterprises’ profit is generated by the gains from sale of products. This makes the methodology for analysis of the gains from sale of products and its importance at all phases and stages of the development of enterprises that carry out industrial principal activity a question of interest.The statement of gains from sale of products is prepared on the basis of the accounting and operational information generated in the enterprise. The data in this statement are used to analyze.1) The financial performance (profit, loss) from sale of products.2) Full cost per production of BGN 100 (cost per sales of BGN 100).3) Rate of return calculated on the basis of net sales (return of sales).The analysis identifies and measures the strength and direction of direct factors’ impact on the changes that have occurred in the financial performance as a result of the sale of products, the cost per sales of BGN 100 and the return of sales.Thus the intracompany statement of gains from sale of products is considered a source of information not only for the analysis of the gains from sale of products but also for the analysis of the effectiveness of the industrial enterprise’s principal activity. The indicator of cost per sales of BGN 100 characterizes the cost-revenue type of effectiveness, and the indicator of return of sale – the aggregate effectiveness of the enterprise’s principal activity.The object of this publication refers to the matters relevant to the information provision for the analysis of the industrial enterprises’ gains, or losses from sale of products, respectively, and of the effectiveness of their principal activity.The subject matter of the study covers the methodologies for analysis of gains, or losses from sale of products, respectively, the cost per sales of BGN 100, and the return of sales.The author’s aim is to improve the methodologies for analysis of gains, or losses from sale of products, respectively, the cost per sales of BGN 100, and the return of sales on the basis of the information contained in the industrial enterprises’ intracompany statement of grains from sale of products.For the purposes of achieving the above aim, the author of this publication has two problems to solve:1) To clarify the information provision for the analysis with view of the preparation of the intracompany statement of gains from sale of products.2) To outline some guidelines for improvement of the methodologies for analysis of gains from sale of products, the cost per sales of BGN 100, and the return of sales.These problems can be solved by using various methods of scientific knowledge, for example: induction and deduction, analysis and synthesis, as well as appropriate elements of the financial and business analysis method – the methods of comparison, adjustment of indicators, successive substitution, etc.Different approaches have been applied for the purposes of this study: historic, logic, systemic, complex, etc.

More...

COVID-19 vaccination - differences and similarities in Europeans over 50 years of age

Author(s): Diana Tisheva,Nikolay Netoff,Radoslav Rizov / Language(s): English / Issue: 18/2022

Keywords: COVID-19; precautionary behaviors; SHARE data; Intuitionistic fuzzy sets

We analyzed the differences and similarities of Europeans' aged 50 and above attitudes to COVID-19 prevention. Our analysis is based on the Börsch-Supan, A. (2022). Survey of Health, Ageing and Retirement in Europe (SHARE) Wave 9. COVID-19 Survey 2. Release version: 8.0.0. Our findings point to countries specific differences in the level of willingness for prevention of COVID-19. Results show the presence of a definite leader in terms of positive attitudes towards the prevention of COVID-19, and that is Israel. As well, a clear leader in negative attitudes towards the prevention of COVID-19 is Bulgaria. In general, the current attitudes in the EU are positive regarding prevention against COVID-19 (in 17 out of a total of 28 states included in this study).

More...

INDICATORS AND INDEXES FOR ASSESSING THE COMPETITIVENESS OF BUSINESS ORGANIZATIONS

Author(s): Daniel Parushev / Language(s): English / Issue: 18/2022

Keywords: Strategic Management; competitive strategies; competitiveness

Over the years, the development of economics as a science has led to multiple interpretations of the term competitiveness, depending on the level at which the competition itself is studied - state, regional, company, or of the products themselves, as well as which factors are defined as leading according to individual theories. In this regard, the purpose of this article is to present the types of indicators and indexes for assessing the competitiveness of business organizations and to point out the specifics of each of them.

More...

A Comprehensive Data Preparation for Insights on Mobility Patterns in Sofia

Author(s): Angel Marchev, Jr / Language(s): English / Issue: 18/2022

Keywords: Mobility Patterns; Geospatial Data; Data Preparation; Point-in-Polygon Operations; Urban Dynamics

This study investigates mobility patterns in Sofia, Bulgaria, focusing on commute travelers. The research utilizes data from a mobile network operator, providing unique insights into the spatial and temporal movements of residents. The data set presents peculiarities such as the impact of Covid-19 restrictions and vacation periods on travel frequency. The research involves a detailed data preparation process, including extracting and analyzing geospatial data using Google Places API, identifying and cleaning duplicate geographic data points, visualizing geographical data and performing point-in-polygon operations with Python libraries, and integrating travelers' data. This comprehensive approach ensures precise, reliable, and insightful results, potentially informing future city planning and transportation policies.

More...

An Evaluation of the Second Constitutional Revolution Among Excessive Goals and Ideologies

Author(s): Bahar Arslan / Language(s): English / Issue: 1/2022

Keywords: Abdülhamid II; Second Constitutional Era; Committee of Union and Progress; Positivism; Narodnism; Solidarism; Corporatism; National Economy; National Family-Women; Press;

Based on historiographical, political science and journalistic literature, this research shows the transformation of ideas among the bearers of change in the late period of the Ottoman Empire. Paper further evaluates the second constitutional revolution on the axis of hegemonic language mostly created by ideological theories and concepts such as positivism, narodnism, solidarism, corporatism, national economy but also concept and role of women and press in late Ottoman society. Author claims that paper is an attempt to deconstruct, albeit to a limited extent, the legacy that has been passed on from the Constitutional Monarchy to the present day in Turkey

More...

The Meaning of Life in Frank Capra’s It’s a Wonderful Life (1946)

Author(s): Sanja Matković,Biljana Oklopčić / Language(s): English / Issue: 2/2023

Keywords: Frank Capra; It’s a Wonderful Life; the meaning of life; Viktor Frankl; responsibility; self-transcendence; Catholicism;

This paper will analyze the concept of the meaning of life in Frank Capra’s film It’s a Wonderful Life (1946) from a logotherapy aspect and with the support of Catholic theory. Namely, the film depicts how George Bailey, faced with a major life difficulty, self-transcends himself and discovers meaning through work and deeds, love, and the attitude toward unavoidable suffering. The notions of the responsibility of every human being to their life and God, the uniqueness of every individual and the specific tasks life sets before them, and the acceptance of one’s own position will also be examined with regard to Bailey’s actualization of the meaning of life. The paper will conclude by identifying the effect this film has on its viewers due to the way it tackles the topic of the meaning of life, which makes it suitable for a therapeutic method cinematherapy, used in logotherapy.

More...

A Contribution to the Biography of Ivan Šalić

Author(s): Josip Jagodar / Language(s): English / Issue: 2/2023

Keywords: Ivan Šalić; Personal Secretary of the Archbishop of Zagreb; Alojzije Stepinac; correspondence; Stara Gradiška Penitentiary; Catholic Church in Croatia;

Contemporary historiography, so far, has not engaged in researching the biography of Ivan Šalić, the personal secretary of the Archbishop of Zagreb Alojzije Stepinac. Since the communist system was averse to Šalić and the Catholic Church in Croatia, it is not surprising that, to date, no one has made a critical review and analyzed his life and priestly service. This paper aims to show the life and significance of Ivan Šalić based on archival documents held in the Croatian State Archives in Zagreb and Šalić’s birthplace in Bebrina (near Slavonski Brod). Numerous postal cards and letters testify to his life, especially the period when he was imprisoned in the Stara Gradiška Penitentiary (1946–1953). The paper will present his life from birth to death and analyze the correspondence with his family to emphasize his importance for the Catholic Church in Croatia.

More...

Supermarket theatres, oversupply of labour and new holders of capital in Greek theatre during the debt crisis (2010-2019)

Author(s): Tassos Angelopoulos / Language(s): English / Issue: 23/2022

Keywords: Greek Theatre; Economic Crisis; Supermarket Theatres; Pierre Bourdieu; Field Theory; Onassis Stegi; Drama School Graduates;

Using Pierre Bourdieu’s field methodology, the article tries to chart the rearrangements within the theatrical field in Greece during the decade of the economic crisis (2010-2019). The article identifies the distortions of the Greek theatrical market, such as the oversupply of labour and the replacement of theatres with an artistic imprint by the here called “supermarket” theatres. In addition, we follow the attempt of the “Stegi” by the Onassis Foundation to emerge as the central holder of the (symbolic) capital within this theatrical field, occupying the place Amore Theater used to have. Finally, it is concluded that the theatrical field - and because of the pandemic that followed the economic crisis – resists against fully mapping, as new initiatives and groupings are still taking place within it.

More...