DIGITAL ECONOMY AND FINANCIAL RISK MANAGEMENT
The purpose of this paper is to analyse and systematize the key challenges to understand the role of digital economy and the relationship with financial risk management. The author put forward the provision on the valuation and measurement of financial risk in contexts of digital economy in Bulgaria. The paper mainly aims to examine the influence of digital finance on enterprise financial risk and its mechanism. The results of the study are presented in Figure 2. Moreover, it attempts to analyze whether digital finance corrects the distortion of traditional financial elements and whether it can effectively improve enterprise financial risk and further verify the inclusion and transmission mechanism of digital finance.
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THE FACTORS INFLUENCING CONSUMER CHOICE
The purpose of this article is to investigate which part of the packaging information plays an important role in consumer choice between both Generation Z and Generation Millennials. How inflation changes consumer demand for groceries. The comparative analysis between the two generations is of interest because the market is currently accustomed to the demands of the Millennial generation. It is yet to adapt to Generation Z as well. The benchmarking was done through an online survey distributed in major cities and among highly educated consumers.
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IMPACT OF SOCIAL MEDIA MESSAGES ON ONLINE SHOPPING
Verbal communication (WOM-Word of Mouth) is a current marketing tool, the main purpose of which is communication and socialization, followed by the promotion and sale of products that takes place face to face between sellers and buyers. With the advent of the Internet, WOM turns into eWOM, that is, electronic word-of-mouth communication that takes place between online sellers and online buyers through social networks and online store pages.
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TRENDS AND OPPORTUNITIES IN THE CONSTRUCTION SECTOR IN SELECTED SOUTH-EASTERN EUROPE'S COUNTRIES
Southeastern Europe (SEE) constitutes a unique geographical sub-region of Europe. This region includes the Balkan countries, which are rich in cultural heritage, historical evolution, and geographical features. The countries in this region have varying stages of economic progress and development.
Considering the variations and unique characteristics of the individual countries within the SEE group and whit purpose to provide a comprehensive coverage of all aspects of the construction sector, this paper focuses on the specificities, structure, development, and future trends in the construction markets of subset of nine SEE countries.
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ECONOMIC CHALLENGES IN THE CONTEXT OF PANDEMIC AND WAR CIRCUMSTANCES
The eighth annual scientific conference of the Monetary and Economic Research Center (MRC) was held from 20th to 21st of September 2022 at the University of National and World Economy (UNWE) in Sofia, Bulgaria. All papers of this book have been gone through a blind review and corrected where necessary. The book with papers is financed through university project НИД НП 10/2022 at the University of National and World Economy. The Union of Bulgarian Economists as well as Institute of Economics and Politics at UNWE, Sofia University and LEFMI France and are co-organizers of the conference. Main accent on the 8th Annual Conference was the economic challenges in the context of pandemic and war circumstances. Researchers and professionals from more than 10 countries took part. The present book consists papers in English language.
ISBN: 978-619-90797-7-5
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CHALLENGES OF MANAGEMENT OF GREEN FINANCE AFTER THE PANDEMIC
Transitioning to a sustainable future with inclusive, green economies and resilient ecosystems requires huge investments. The rescue packages imposed by the COVID-19 crisis make the pursuit of global sustainability goals even more dependent on urgent investment decisions to be taken by the public and private sector. In response, this study is an attempt to understand the role of green financing in economic growth after the pandemic. The article also examines the impact of COVID-19 on the financial industry, the participation of green finance in the economic recovery after the pandemic. The author put forward the provision on the existence of causal relationships between the "green" financial and "green" economy and analyzed the challenges of management of green finance in Bulgaria.
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The term of “competitiveness of the firm”: can we really define it?
A critical Analysis
Competitiveness is a very important concept that is widely used in academia and political discourse. Globalization and open markets imply fierce competition between countries and companies to gain market share.
However, the understanding of this term remains far from being defined or clarified as it only goes beyond the gain of market shares through the improvement of the productive process but extends to the organization, management and also access to financing for SMEs.
In this perspective, this paper tries to critically discuss the ambiguity present in the definition of competitiveness, which depends on its size, sector and also its internationalization. Also, we try to enhance the importance to create a scientific method to measure the competitiveness of the firm beyond the characteristics related to the price but to organizational criteria.
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Sustainable innovation and knowledge management in the digital age and in the COVID-19 pandemic crisis
In today’s turbulent business environment sustainable innovation is imperative for the survival of the organisation and its success in the dynamic market of the digital age. This is especially true in the current COVID-19 pandemic crisis. A distinguishing feature of the modern digital age is that changes are occurring at unprecedented rates of velocity and scale, which leads to the necessity of a more flexible approach to strategizing and problem solving. The application of sophisticated technologies with the ability to disrupt the existing processes of value creation, is often regarded as a main feature of innovation. However, one of the most important lessons from the current global outbreak of coronavirus is that innovation can also be the product of urgency.
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Digitalization and Opportunities to Improve Business Process Management Efficiency
Human life is improving and changing along with technical and technological development. Just several years ago people could hardly imagine that their daily routine would be changed by distancing themselves from the society and moving work or communication processes online.
The global pandemic has accelerated the transition to digital services not only in specific areas, but also in small, medium and corporate businesses, state and public institutions, banking and financial systems.
Multifunctional, customer and business-friendly digital platforms have been created and implemented by the world's leading technology companies and using them in practice has been successful up to date. Development-oriented and successful companies have taken some steps towards digital transformation, although the worldwide spread of pandemic processes has significantly accelerated digital processes.
Transformational processes have penetrated areas whose activities were not compatible with online formats and digital processes at first glance. It was especially difficult to transfer processes to online social space for countries or businesses that do not have adequate technical and material bases, there is a problem with network implementation, lack of qualified staff, insufficient intellectual resources, etc.
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Toward the cashless society in EU: The rise of e-commerce, challenges and perspectives
(in Bulgarian)
The beginning of the 21st century has been marked by rapid technological changes with global coverage, as well as a series of economic crises, including the current one caused by the Covid-19 virus. These challenges boosted global economic trends dating back to the middle of the last century, and one of them is the establishment and development of a cashless society.
Immediately after the first general payment card was issued in the middle of the last century a discussion on a cashless society emerged. Although the debates for and against it have been not subsided for 70 years a steady trend raised, accelerating the shift from physical to non-cash payments. It has been shaped by the increasing use of electronic money, the emergence of electronic banks and many forms of non-cash payments. The speed, low cost and efficiency of non-cash payments placed them at the heart of the increasing international competition at the micro- and macroeconomic levels.
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