20-та международна конференция на младите учени Страници Modifications RSS Feed

Сборник с доклади

УНСС — Thu, 30 Jul 2026 11:35:41 GMT

Сборникът с научни доклади от XX Международна научна конференция на младите учени (Част I и Част II) се издава от Академично издателство УНСС (UNWE Press) и може да бъде изтеглен от файловете по-долу. Той е индексиран в Онлайн библиотеката за Централна и Източна Европа (Central and Eastern European Online Library – CEEOL):

Сборник, част I: https://www.ceeol.com/search/book-detail?id=1436902

Сборник, част II: https://www.ceeol.com/search/book-detail?id=1433582

Той е включен в Националния референтен списък (НРС) на съвременни български научни издания с научно рецензиране, поддържан от министъра на образованието и науката чрез Националния център за информация и документация (НАЦИД) (https://nrs.nacid.bg/register/search).

Доклади - част I: https://young-scientists.unwe.bg/conf2025/bg/pages/78429/доклади-част-i.html

DOI, част I: https://doi.org/10.37075/ISCYS.2026.1

Доклади - част I

УНСС — Wed, 29 Jul 2026 13:30:27 GMT

Сборник: ИКОНОМИКАТА НА БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ: 20 ГОДИНИ ОТ ПОДПИСВАНЕТО НА ДОГОВОРА ЗА ПРИСЪЕДИНЯВАНЕ НА РЕПУБЛИКА БЪЛГАРИЯ КЪМ ЕВРОПЕЙСКИЯ СЪЮЗ И ЧЛЕНСТВО В ЕВРОЗОНАТА ОТ 01.01.2026 г. Сборник с доклади от XX международна научна конференция на младите учени, Част I

Proceedings: THE ECONOMY OF BULGARIA AND THE EUROPEAN UNION: 20 YEARS SINCE THE SIGNING OF THE TREATY ON THE ACCESSION OF THE REPUBLIC OF BULGARIA TO THE EUROPEAN UNION AND MEMBERSHIP IN THE EURO AREA FROM 01.01.2026. Conference Proceedings of the 20th International Scientific Conference of Young Scientists, Part I

Издател / Publisher: Академично издателство УНСС / Academic Publishing UNWE | Година / Year: 2026 | ISBN: 978-619-232-968-6

DOI на сборника / Proceedings DOI: https://doi.org/10.37075/ISCYS.2026.1

Конференция: XX международна научна конференция на младите учени, 6–7 ноември 2025 г., Университет за национално и световно стопанство, София

Conference: 20th International Scientific Conference of Young Scientists, 6–7 November 2025, University of National and World Economy (UNWE), Sofia, Bulgaria

Връзки към сборника: Целият сборник – Част I (PDF) | Страница на сборника

Съдържание

001. EUROPEAN MUTUAL BANKS AT A CROSSROADS: FACING CLIMATE CHALLENGES AND TRADITIONAL BANKS — Sarah Goldman; Maya Jandah

002. FORMING A SUSTAINABLE COMPETITIVE ADVANTAGE BASED ON INNOVATION IN THE CONTEXT OF EUROPEAN UNION REQUIREMENTS — Pedchenko Nataliіa Serhiivna; Kononenko Zhanna Andriivna; Perebyynis Vasil Ivanovych

003. ОТ ЕВРОПЕЙСКАТА ИНТЕГРАЦИЯ КЪМ ЗЕЛЕНАТА ТРАНСФОРМАЦИЯ: БЪЛГАРСКИТЕ БАНКИ И КЛИМАТИЧНИЯТ РИСК ОТ ПРЕХОДА КЪМ НИСКОВЪГЛЕРОДНА ИКОНОМИКА
FROM EUROPEAN INTEGRATION TO THE GREEN TRANSFORMATION: BULGARIAN BANKS AND CLIMATE TRANSITION RISK IN THE SHIFT TOWARD A LOW-CARBON ECONOMY — Virginia Zhelyazkova

004. BEHAVIOURAL INSIGHTS FOR PENSION POLICIES — Stanislav Dimitrov

005. ПОЗИТИВИ, ПОТЕНЦИАЛНИ РИСКОВЕ И ПЕРСПЕКТИВИ ЗА МСП ПРИ ЧЛЕНСТВОТО НА БЪЛГАРИЯ В ЕВРОЗОНАТА
POSITIVITIES, POTENTIAL RISKS AND PROSPECTS FOR SMEs IN BULGARIA'S MEMBERSHIP IN THE EURO AREA — Andrey Zahariev

006. СТАНДАРТИ ЗА ОТЧИТАНЕ НА УСТОЙЧИВОСТТА ВЪВ ВЕЛИКОБРИТАНИЯ – КОНЦЕПТУАЛНА ОСНОВА И ПЕРСПЕКТИВИ
SUSTAINABILITY REPORTING STANDARDS IN THE UK – CONCEPTUAL BASIS AND PERSPECTIVES — Snejana Bacheva; Roumiana Pozharevska

007. ПРЕДИЗВИКАТЕЛСТВА ПРИ СЪСТАВЯНЕТО НА ОТЧЕТИ ЗА УСТОЙЧИВОСТТА
CHALLENGES IN PREPARATION OF SUSTAINABILITY REPORTS — Ali Veysel

008. СЪВРЕМЕННИЯТ КООПЕРАТИВЕН БИЗНЕС МОДЕЛ – ПРЕДИЗВИКАТЕЛСТВА И ПЕРСПЕКТИВИ
THE CONTEMPORARY COOPERATIVE BUSINESS MODEL – CHALLENGES AND PERSPECTIVES — Ivan Boevsky; Krasimir Kostenarov

009. ВЛИЯНИЕ НА НЯКОИ АСПЕКТИ НА ДИГИТАЛИЗАЦИЯТА ВЪРХУ ДИНАМИКАТА НА ПРОИЗВОДИТЕЛНОСТТА НА ТРУДА В СТРАНИТЕ ОТ ЦИЕ
IMPACT OF SOME ASPECTS OF DIGITALIZATION ON LABOUR PRODUCTIVITY DYNAMICS IN CEE COUNTRIES — Konstantin Kolev; Maya Tsoklinova

010. A NONLINEAR COPULA-GRAPH AGENT-BASED FRAMEWORK FOR CROSS-GENERATIONAL RISK MODELING IN PENSION SYSTEMS — Radostin Vazov

011. ОБРАЗОВАНИЕТО НА ПОТРЕБИТЕЛИТЕ ПО ОСНОВНИ БАНКОВИ ВЪПРОСИ – ПРИОРИТЕТ ЗА ПОСТИГАНЕ НА ДИГИТАЛЕН И ЗЕЛЕН ПРЕХОД
CONSUMER EDUCATION ON BASIC BANKING ISSUES – A PRIORITY FOR ACHIEVING A DIGITAL AND GREEN TRANSITION — Reneta Dimitrova

012. СОЦИАЛНАТА И СОЛИДАРНА ИКОНОМИКА В БЪЛГАРИЯ В КОНТЕКСТА НА ЧЛЕНСТВОТО В ЕС: ПРЕДИЗВИКАТЕЛСТВА И ПЕРСПЕКТИВИ
SOCIAL AND SOLIDARITY ECONOMY IN BULGARIA IN THE CONTEXT OF EU MEMBERHSIP: CHALLENGES AND PERSPECTIVES — Tsvetelina Marinova

013. „РУМЪНСКИ“ ИКОНОМИЧЕСКИ СЦЕНАРИЙ – ЩО Е ТО?
THE „ROMANIAN“ ECONOMIC SCENARIO – WHAT DOES IT MEAN? — Emil Kalchev

014. ЕМПИРИЧЕН АНАЛИЗ НА ВРЪЗКАТА МЕЖДУ ВАЛУТНИЯ КУРС ЩАТСКИ ДОЛАР/ЕВРО, ЦЕНИТЕ НА ЗЛАТОТО И ПРОМЕНИТЕ В МИТНИЧЕСКАТА ПОЛИТИКА НА САЩ
EMPIRICAL ANALYSIS OF THE RELATIONSHIP BETWEEN THE USD/EUR EXCHANGE RATE, GOLD PRICES, AND U.S. CUSTOMS POLICY CHANGES — Elena Stavrova; Olga Petkova-Mihaylova; Georgy Nikolov

015. ВЛИЯНИЕ НА КОРУПЦИОННАТА СРЕДА ВЪРХУ ДИНАМИКАТА НА ПРЕКИТЕ ЧУЖДЕСТРАННИ ИНВЕСТИЦИИ В УСЛОВИЯТА НА ПРИСЪЕДИНЯВАНЕ И ЧЛЕНСТВО В ЕВРОЗОНАТА
THE IMPACT OF THE CORRUPTION ENVIRONMENT ON THE DYNAMICS OF FOREIGN DIRECT INVESTMENT IN THE CONTEXT OF ACCESSION AND MEMBERSHIP IN THE EUROZONE — Vladimir Tsenkov; Galya Vladimirova

016. ПРЕПЯТСТВИЯ ПРЕД СРЕБЪРНАТА ИКОНОМИКА В БЪЛГАРИЯ
OBSTACLES TO THE SILVER ECONOMY IN BULGARIA — Nikolay Ninov; Valentina Ninova

017. AUDIT OVERSIGHT IN THE EUROPEAN UNION AND THE CHALLENGES FOR BULGARIA’S EUROZONE ACCESSION — Diyana Bankova

018. ПРИЛОЖЕНИЯ НА ИЗКУСТВЕНИЯ ИНТЕЛЕКТ В МАРКЕТИНГОВАТА ДЕЙНОСТ: РЕАЛНОСТИ И ПЕРСПЕКТИВИ
APPLICATIONS OF ARTIFICIAL INTELLIGENCE IN MARKETING: REALITIES AND PROSPECTS — Димитър Трендафилов

019. СТРАТЕГИИ ЗА ОПЕРАТИВНО ФИНАНСОВО УПРАВЛЕНИЕ ЧРЕЗ МОДИФИЦИРАНЕ НА ОБОРОТНИЯ КАПИТАЛ И СРЕДНАТА ЦЕНА НА ФИНАНСИРАНЕ
OPERATIONAL FINANCIAL MANAGEMENT STRATEGIES THROUGH MODIFICATION OF WORKING CAPITAL AND THE AVERAGE COST OF CAPITAL — Evgeni Raykov

020. INNOVATIONS IN THE HOTEL AND RESTAURANT BUSINESS OF THE EUROPEAN UNION COUNTRIES — Nataliia Kyrnis

021. СИЛНОТО ОНЛАЙН ПРИСЪСТВИЕ НА РАБОТОДАТЕЛЯ И НЕГОВАТА ВРЪЗКА С ПРИВЛЕКАТЕЛНОСТТА НА ОРГАНИЗАЦИЯТА
THE EMPLOYER'S STRONG ONLINE PRESENCE AND ITS RELATIONSHIP WITH THE ORGANIZATION'S ATTRACTIVENESS — Antoaneta Valkanova; Zornitsa Yordanova

022. ИНОВАЦИИ И ДИГИТАЛНА ТРАНСФОРМАЦИЯ В ПУБЛИЧНИЯ СЕКТОР: РОЛЯТА НА ВЪТРЕШНОТО ПРЕДПРИЕМАЧЕСТВО
INNOVATION AND DIGITAL TRANSFORMATION IN THE PUBLIC SECTOR: THE ROLE OF INTRAPRENEURSHIP — Nikolay Vankov; Nadezhda Nikolova

023. EVELOPING INCLUSIVE ENTREPRENEURSHIP – FOR MORE YOUNG ENTREPRENEURS — Silviya Georgieva

024. ИЗМЕРВАНЕ НА ЛИКВИДНОСТТА ЧРЕЗ ИДЕНТИФИЦИРАНЕ НА ПАРИЧНИТЕ ПОТОЦИ
LIQUIDITY MEASUREMENT THROUGH CASH FLOW IDENTIFICATION — Evgeni Raykov

025. НОВИЯТ МОДЕЛ ЗА ОТЧИТАНЕ НА ДИНАМИЧНОТО УПРАВЛЕНИЕ НА ЛИХВЕНИЯ РИСК
THE NEW MODEL OF ACCOUNTING FOR DYNAMIC INTEREST RATE RISK MANAGEMENT — Lilyana Dzhoneva

026. БИЗНЕС МОДЕЛИ И ДИГИТАЛНА ТРАНСФОРМАЦИЯ. ПОДХОДИ И СТРАТЕГИИ
BUSINESS MODELS AND DIGITAL TRANSFORMATION. APPROACHES AND STRATEGIES — Tsvetelina Andreeva

027. WHAT ARE THE ENABLING FACTORS FOR THE APPLICATION OF AI IN EDUCATION (ONLINE LEARNING)? — James Osondu

028. УЧЕЩАТА ОРГАНИЗАЦИЯ ПРЕЗ ПРИЗМАТА НА ОРГАНИЗАЦИОННАТА ГЪВКАВОСТ И ОРГАНИЗАЦИОННОТО УЧЕНЕ
THE LEARNING ORGANIZATION THROUGH THE LENS OF ORGANIZATIONAL FLEXIBILITY AND ORGANIZATIONAL LEARNING — Kiril Velitchkov; Tsvetana Yaneva

029. ПРИЛАГАНЕТО НА МСФО 17 В ОБЩОТО ЗАСТРАХОВАНЕ В БЪЛГАРИЯ: КОЙ МОДЕЛ ЗА ПРИЗНАВАНЕ НА ПРЕМИЙНИЯ ПРИХОД БЕ ИЗБРАН?
IMPLEMENTING IFRS 17 IN BULGARIA’S GENERAL INSURANCE SECTOR: WHICH MODEL FOR INSURANCE REVENUE RECOGNITION HAS BEEN CHOSEN? — Nigokhos Kanaryan

030. СРАВНИТЕЛЕН АНАЛИЗ НА CO-GOVERNANCE МОДЕЛИ ЗА СЪВМЕСТНО УПРАВЛЕНИЕ ПРЕЗ ХХI
COMPARATIVE ANALYSIS OF CO-GOVERNANCE MODELS FOR COLLABORATIVE MANAGEMENT IN THE XXI CENTURY — Vanya Hadjieva

031. „КОЛИЧЕСТВЕНИ УЛЕСНЕНИЯ ЗА ХОРАТА“ – ПРИЛОЖИМОСТ И ЕФЕКТИ
“QUANTITATIVE EASING FOR THE PEOPLE” – APPLICABILITY AND EFFECTS — Dimitar Kostov

032. ТРАНСФЕРИТЕ В БЮДЖЕТА НА ЕС: ДИНАМИКА И НЕТНИ ЕФЕКТИ ЗА СТРАНИТЕ-ЧЛЕНКИ
TRANSFERS IN THE EU BUDGET: DYNAMICS AND NET EFFECTS FOR MEMBER STATES — Tsvetan Pavlov

033. ВРЪЗКА МЕЖДУ ИНВЕСТИЦИИ В ДИГИТАЛНИ ТЕХНОЛОГИИ И УМЕНИЯ, ОБРАЗОВАНИЕ И ПРОИЗВОДИТЕЛНОСТ НА ТРУДА
NEXUS BETWEEN INVESTMENTS IN DIGITAL TECHNOLOGIES AND SKILLS, EDUCATION AND LABOUR PRODUCTIVITY — Maya Tsoklinova

034. РОЛЯ НА АНАЛИТИЧНИТЕ ИНСТРУМЕНТИ ПРИ ОЦЕНКАТА НА ДИГИТАЛНИ СТРАТЕГИИ И ПОЛИТИКИ НА ОБРАЗОВАТЕЛНИ ПРОДУКТИ
ROLE OF ANALYTICAL TOOLS IN THE EVALUATION OF DIGITAL STRATEGIES AND POLICIES OF EDUCATIONAL PRODUCTS — Daniela Tsvetkova; Pavleta Vankova

035. ВЗАИМОДЕЙСТВИЕ НА ВЪРХОВНИТЕ ОДИТНИ ИНСТИТУЦИИ В ЕС
INTERACTION BETWEEN SUPREME AUDIT INSTITUTIONS IN EU — Toma Donchev

036. FRAUD TRENDS IN 2025 AFFECTING FINANCIAL INSTITUTIONS AND THEIR IMPACT ON CONTROL — Iavor Bachev

037. MiCA AND THE NEW ORDER OF CRYPTO MARKETS: BALANCE BETWEEN INNOVATION AND PROTECTION — Kremena Choutilova-Yochkolovska; Natalia Petrova

038. БЪЛГАРИЯ В ЕВРОЗОНАТА – ДЕФИЦИТИ В ДЕБАТА
BULGARIA IN THE EUROZONE — DEFICITS IN THE DEBATE — Rossitsa Toncheva

039. EXCHANGE-RATE REGIME SHIFTS AND PUBLIC DEBT – OPPORTUNITIES AND PERSPECTIVES — Darina Koleva

040. ANALYSIS OF KEY FINANCIAL INDICATORS OF SOCIAL ENTERPRISES IN BULGARIA IN THE PERIOD 2017-2022 — Aglika Kaneva

041. ВЛИЯНИЕ НА ДЪРЖАВНИЯ ДЪЛГ ВЪРХУ ИНФЛАЦИЯТА В БЪЛГАРИЯ: КОИНТЕГРАЦИОНЕН АНАЛИЗ
GOVERNMENT DEBT IMPACT ON INFLATION IN BULGARIA: COINTEGRATION ANALYSIS — Milena Kovachevich

042. ФУНДАМЕНТАЛЕН АНАЛИЗ НА КРИПТОВАЛУТИ
FUNDAMENTAL ANALYSIS OF CRYPTOCURRENCIES — Ivan Kostov

043. ТЪРГОВСКИ КРЕДИТ И ТЕЖЕСТ НА ДЪЛГА ПРИ ПУБЛИЧНО ТЪРГУВАНИТЕ ПРЕДПРИЯТИЯ
TRADE CREDIT AND DEBT BURDEN IN PUBLICLY TRADED COMPANIES — Galya Taseva

044. 20 YEARS SINCE THE SIGNING OF THE TREATY ON THE EU ACCESSION OF BULGARIA AND 80 YEARS SINCE THE ESTABLISHMENT OF THE UN: IMPLICATIONS FOR EXPORT — Margarita Ivanova

045. МЕТОДИ ЗА ОПРЕДЕЛЯНЕ НА ВЪТРЕШНОПРИСЪЩАТА СТОЙНОСТ НА КРИПТОАКТИВИ
METHODS FOR DETERMINING THE INTRINSIC VALUE OF CRYPTOASSETS — Иван Костов

046. ФУНКЦИОНАЛНА СТРУКТУРА НА РАЗХОДИТЕ НА ПУБЛИЧНИЯ СЕКТОР В БЪЛГАРИЯ: ПРИОРИТЕТИ И ТЕНДЕНЦИИ
FUNCTIONAL STRUCTURE OF PUBLIC SECTOR EXPENDITURE IN BULGARIA: PRIORITIES AND TRENDS — Angel Angelov

047. ЕФЕКТИ ОТ ПРИСЪЕДИНЯВАНЕТО КЪМ ЕВРОЗОНАТА ВЪРХУ СОЦИАЛНО-ОСИГУРИТЕЛНАТА СИСТЕМА
EFFECTS OF JOINING THE EURO AREA ON THE SOCIAL SECURITY SYSTEM — Darina Koleva

048. ПЪРВИ БЮДЖЕТ В ЕВРО ЗА БЪЛГАРИЯ: ФИСКАЛНА КОНСОЛИДАЦИЯ ИЛИ ЕКСПАНЗИЯ?
FIRST BUDJET IN EURO FOR BULGARIA: FISCAL CONSOLIDATION OR EXPANSION? — Diyana Metalova

049. ДЪРЖАВЕН ДЪЛГ И ИКОНОМИЧЕСКИ РАСТЕЖ В БЪЛГАРИЯ – ИМА ЛИ ДЪЛГОСРОЧНА ВРЪЗКА?
GOVERNMENT DEBT AND ECONOMIC GROWTH IN BULGARIA – IS THERE A LONG-TERM RELATIONSHIP? — Milena Kovachevich

050. ИНТЕГРАЦИЯ НА КРЪГОВАТА ИКОНОМИКА В БЪЛГАРСКИЯ БИЗНЕС – ПРЕДИЗВИКАТЕЛСТВА И ВЪЗМОЖНОСТИ
INTEGRATION OF THE CIRCULAR ECONOMY IN BULGARIAN BUSINESS – CHALLENGES AND OPPORTUNITIES — Mina Markova-Karpuzova

051. ЕФЕКТИ НА ЦЕНОВАТА ДИНАМИКА НА ЗЛАТОТО ВЪРХУ БАЛАНСОВИТЕ ПОЗИЦИИ НА ЦЕНТРАЛНИТЕ БАНКИ
EFFECTS OF GOLD PRICE DYNAMICS ON CENTRAL BANK BALANCE SHEET POSITIONS — Raya Dragoeva

052. АНАЛИЗ НА УДОВЛЕТВОРЕНОСТТА НА СТУДЕНТИТЕ ОТ ПРОЦЕСА НА ПРЕПОДАВАНЕ
ANALYSIS OF STUDENT SATISFACTION WITH THE TEACHING PROCESS — Svetla Atanasova; Hristina Mihaleva; Hristo Georgiev; Alexander Angelov

053. МЕНИДЖМЪНТ ПРАКТИКИ В БЪЛГАРСКИТЕ СТАРТИРАЩИ КОМПАНИИ: ПЪТЯТ ОТ ИДЕЯ ДО УСТОЙЧИВ БИЗНЕС
MANAGEMENT PRACTICES IN BULGARIAN STARTUP COMPANIES: THE JOURNEY FROM IDEA TO SUSTAINABLE BUSINESS — Daniela Stoyanova

054. ЕДИННО УПРАВЛЕНИЕ НА ЕВРОПЕЙСКОТО ВЪЗДУШНО ПРОСТРАНСТВО – ПРЕДИЗВИКАТЕЛСТВА ПРЕД ЕС И БЪЛГАРИЯ
MANAGEMENT OF EUROPEAN AIRSPACE – CHALLENGES FOR THE EU AND BULGARIA — Bianka Tosheva-Pesheva

055. ТЕНДЕНЦИИ И ПЕРСПЕКТИВИ НА ЕВРОПЕЙСКИТЕ ФОНДОВИ ПАЗАРИ ЗА ПЕРИОДА 2005-2025 Г.
TRENDS AND PROSPECTS OF THE EUROPEAN STOCK MARKETS FOR THE PERIOD 2005-2025 — Ivaylo Taskov

056. КАК СЕ ИЗМЕРВА ДОБРОТО? МОДЕЛИ ЗА ОЦЕНКА НА СОЦИАЛНОТО ВЪЗДЕЙСТВИЕ
HOW TO MEASURE GOODNESS? FRAMEWORKS FOR SOCIAL IMPACT EVALUATION — Mina Kostova

057. СПЕЦИАЛИЗИРАНИТЕ ПАЗАРИ ЗА МАЛКИ И СРЕДНИ ПРЕДПРИЯТИЯ НА ЕВРОПЕЙСКИТЕ ФОНДОВИ БОРСИ – ОСНОВНИ ТЕНДЕНЦИИ И ПРЕДИЗВИКАТЕЛСТВА
SPECIALIZED SMALL AND MEDIUM-SIZED ENTERPRISES MARKETS ON THE EUROPEAN STOCK EXCHANGES – MAIN TENDENCIES AND CHALLENGES — Snezhana Yotinska

058. КАКВО ЩЕ СЕ СЛУЧИ С МЕЖДУНАРОДНИТЕ ВАЛУТНИ РЕЗЕРВИ НА БНБ СЛЕД ПРИЕМАНЕТО НА ЕВРОТО В БЪЛГАРИЯ?
WHAT WILL BECOME OF THE INTERNATIONAL FOREIGN CURENCY RESERVES OF THE BULGARIAN NATIONAL BANK FOLLOWING BULGARIA’S ADOPTION OF THE EURO? — Elena Panayotova

059. СЧЕТОВОДНИ АСПЕКТИ НА ВЪВЕЖДАНЕТО НА ЕВРОТО В БЪЛГАРИЯ
ACCOUNTING IMPLICATIONS OF BULGARIA’S ADOPTION OF THE EURO — Kiril Bashikarov

060. ПРОБЛЕМИ НА АНАЛИЗА НА ПРОИЗВОДИТЕЛНОСТТА НА ТРУДА В УСЛОВИЯТА НА ПРЕХОД КЪМ ЕВРОЗОНАТА В БЪЛГАРИЯ
PROBLEMS OF LABOR PRODUCTIVITY ANALYSIS IN THE CONTEXT OF TRANSITION TO THE EUROZONE IN BULGARIA — Petko Ganchev

061. РОЛЯТА НА ФАСИЛИТИ МЕНИДЖМЪНТА В ОБЕЗПЕЧАВАНЕТО НА УЧЕБНИЯ ПРОЦЕС НА ВОЕННИ ЛЕКАРИ И МЕДИЦИНСКИ СЕСТРИ, ПО ПРИМЕРА НА ВОЕННОМЕДИЦИНСКА АКАДЕМИЯ – СОФИЯ
THE ROLE OF FACILITY MANAGEMENT IN ENSURING THE EDUCATIONAL PROCESS OF MILITARY DOCTORS AND NURSES, ON EXAMPLE OF THE MILITARY MEDICAL ACADEMY – SOFIA — Anton Pramatarov; Silvia Trifonova; Biliana Girova; Lilia Ilieva

062. 20 ГОДИНИ ИНВЕСТИЦИИ НА ЕС ВЪВ ВИК ИНФРАСТРУКТУРА. ВЪЗМОЖНИ АЛТЕРНАТИВИ ЗА ПОДОБРЯВАНЕ НА ВОДОСНАБДЯВАНЕТО В БЪЛГАРИЯ
20 YEARS OF EU INVESTMENTS IN WATER INFRASTRUCTURE. POSSIBLE ALTERNATIVES FOR IMPROVING WATER SUPPLY IN BULGARIA — Marina Belcheva

063. SOCIAL EMBEDDEDNESS AND THE EMERGENCE OF ACADEMIC INTRAPRENEURSHIP IN RESOURCE-CONSTRAINED UNIVERSITIES — Evelina Van Mensel; Nikolay A. Dentchev

064. НЕОБХОДИМОСТ ОТ ЗАКОНОДАТЕЛНИ ПРОМЕНИ ЦЕЛЯЩИ СЪЗДАВАНЕ НА ВЪЗМОЖНОСТ ЗА ПРИВЛИЧАНЕ НА ДЪЛГ ПРЕЗ КАПИТАЛОВИЯ ПАЗАР
THE NEED FOR LEGISLATIVE AMENDMENTS AIMED AT CREATING OPPORTUNITIES FOR ATTRACTING DEBT THROUGH THE CAPITAL MARKET — Vilizar Chupetlovski

065. МЕДИЙНА ИКОНОМИКА ПОД AI НАТИСК: ПРЕДИЗВИКАТЕЛСТВА И ПЕРСПЕКТИВИ
MEDIA ECONOMY UNDER AI PRESSURE: CHALLENGES AND PERSPECTIVES — Georgi Minev

066. THE PARTNERSHIP BETWEEN ACADEMIA AND BUSINESS THROUGH TECHNOLOGY TRANSFER AND ACCESS TO UNIVERSITY TECHNOLOGY OFFERS: TRENDS AND EFFECTIVENESS — Anelia Stoikova

067. TAX ADVANTAGES AS A FACTOR IN ENSURING ENTERPRISE COMPETITIVENESS — Sergii Zhyliakov

068. A CONCISE OVERVIEW OF WATER MANAGEMENT — Stavros Syngelakis

069. КОНКУРЕНТОСПОСОБНОСТ НА ИНСТИТУЦИОНАЛНИТЕ МЕХАНИЗМИ ЗА МОНИТОРИНГ И КОНТРОЛ НА АНТИКОРУПЦИОННИТЕ ПОЛИТИКИ В РЕПУБЛИКА БЪЛГАРИЯ В СРАВНЕНИЕ С ТРЕТИ СТРАНИ
COMPETITIVENESS OF INSTITUTIONAL MECHANISMS FOR MONITORING AND CONTROLLING ANTI-CORRUPTION POLICIES IN THE REPUBLIC OF BULGARIA COMPARED TO THIRD COUNTRIES — Sevinch Niyazieva Hristemova

070. ХИБРИДНИ ТРЕЙДИНГ МОДЕЛИ НА АМЕРИКАНСКАТА ФОНДОВА БОРСА В КОНТЕКСТА НА КОМПАНИИТЕ ЗА БИЗНЕС РАЗВИТИЕ
HYBRID TRADING MODELS ON THE AMERICAN STOCK EXCHANGE IN THE CONTEXT OF THE BUSINESS DEVELOPMENT COMPANIES (BDCs) — Konstantin Georgiev

071. КРЕАТИВНАТА ИНДУСТРИЯ – МЕДИАТОР ЗА УСТОЙЧИВО РАЗВИТИЕ В БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ
THE CREATIVE INDUSTRY – MEDIATOR FOR SUSTAINABLE DEVELOPMENT IN BULGARIA AND THE EUROPEAN UNION — Maria Lazarova

072. КОРПОРАТИВНО ДАНЪЧНО ПЛАНИРАНЕ В УСЛОВИЯТА НА ВЪВЕЖДАНЕ НА ЕВРОТО: ПРЕДИЗВИКАТЕЛСТВА И ВЪЗМОЖНОСТИ
CORPORATE TAX PLANNING IN THE CONTEXT OF THE EURO INTRODUCTION: CHALLENGES AND OPPORTUNITIES — Stefanija Ilieva

073. ФИНАНСИРАНЕ НА РЕГИОНАЛНОТО РАЗВИТИЕ В БЪЛГАРИЯ – РЕСУРСНИ ПРЕДИЗВИКАТЕЛСТВА И ПУБЛИЧНА ОТЧЕТНОСТ
FINANCING REGIONAL DEVELOPMENT IN BULGARIA – RESOURCES, CHALLENGES AND PUBLIC ACCOUNTABILITY — Yoana Parvanova-Ivanova

074. БРУТНАТА ДОБАВЕНА СТОЙНОСТ И БЮДЖЕТНИТЕ ПРИХОДИ ОТ ДДС В БЪЛГАРИЯ: ИКОНОМЕТРИЧЕН АНАЛИЗ ЗА ПЕРИОДА 2015-2024 Г.
GROSS VALUE ADDED AND BUDGET REVENUES FROM VAT IN BULGARIA: AN ECONOMETRIC ANALYSIS FOR THE PERIOD 2015-2024 — Diman Karanfilov

075. ПРЕСТЪПЛЕНИЯ, СВЪРЗАНИ С ДАНЪК ВЪРХУ ДОБАВЕНАТА СТОЙНОСТ, РАЗСЛЕДВАНИ ОТ ЕВРОПЕЙСКАТА ПРОКУРАТУРА И ОТРАЖЕНИЕТО ИМ ВЪРХУ БЮДЖЕТА НА ЕВРОПЕЙСКИЯ СЪЮЗ
VAT-RELATED CRIMES INVESTIGATED BY THE EUROPEAN PUBLIC PROSECUTOR’S OFFICE AND THEIR IMPACT ON THE EUROPEAN UNION BUDGET — Tsvetana Barzinska

076. АНАЛИЗ НА ПРИХОДИТЕ ОТ КОСВЕНИ ДАНЪЦИ В БЮДЖЕТА НА БЪЛГАРИЯ
ANALYSIS OF REVENUE FROM INDIRECT TAXES IN THE BUDGET OF BULGARIA — Kostadin Stanoev

077. МЕТОДОЛОГИЧЕСКИ ПОДХОДИ ЗА БАНКОВО ФИНАНСИРАНЕ НА ЕКОЛОГИЧНА СИГУРНОСТ
METHODOLOGICAL APPROACHES FOR BANK FINANCING OF ENVIRONMENTAL SECURITY — Tsvetelina Simeonova

078. ЛИБЕРАЛЕН И СЕЛЕКТИВЕН ПОДХОД В НАСЪРЧАВАНЕТО НА ПРЕКИТЕ ЧУЖДЕСТРАННИ ИНВЕСТИЦИИ, ТЕНДЕНЦИИ В БЪЛГАРИЯ В ПЕРИОДА 2014-2025 Г.
LIBRARY AND SELECTIVE APPROACH IN PROMOTING FOREIGN DIRECT INVESTMENTS, TRENDS IN BULGARIA IN THE 2014-2025 PERIOD — Miglena Mileva

079. ЕКОЛОГИЧНАТА СИГУРНОСТ И ФИНАНСОВИЯТ СЕКТОР: КОНЦЕПТУАЛНА ЕВОЛЮЦИЯ, ТЕОРЕТИЧНИ РАЗГРАНИЧЕНИЯ И РОЛЯТА НА БАНКИТЕ В ПРЕХОДА КЪМ УСТОЙЧИВО РАЗВИТИЕ
ENVIRONMENTAL SECURITY AND FINANCIAL SECTOR: CONCEPTUAL EVOLUTION, THEORETICAL DIFFERENCIALTION, AND THE ROLE OF THE BANKS IN THE TRANSITION TO SUSTAINABLE DEVELOPMENT — Tsvetelina Simeonova

080. РЕГИОНАЛНО НЕРАВЕНСТВО И ДЕМОГРАФСКИ УПАДЪК В СЕЛСКИТЕ РАЙОНИ НА ИЗТОЧНА ЕВРОПА: ИКОНОМИЧЕСКИ ПРЕДИЗВИКАТЕЛСТВА И ВЪЗМОЖНИ ПОЛИТИКИ
REGIONAL INEQUALITY AND DEMOGRAPHIC DECLINE IN RURAL EASTERN EUROPE: ECONOMIC CHALLENGES AND POLICY RESPONSES — Stanislava Aleksandrova

081. СИСТЕМА ЗА УПРАВЛЕНИЕ НА СЪВРЕМЕННАТА ОРГАНИЗАЦИЯ – СЪЩНОСТ И УСЪВЪРШЕНСТВАНЕ
MANAGEMENT SYSTEM OF THE MODERN ORGANIZATION – ESSENCE AND IMPROVEMENT — Petar Penev

082. GLOCALIZATION OF THE SPECIALIST DOCTOR’S BRAND IN THE EUROPEAN SINGLE MARKET — Martina Dimitrova

083. УПРАВЛЕНИЕ НА РИСКА В УПРАВЛЕНИЕТО НА ПРОЕКТИ В БЪЛГАРИЯ: ПРАКТИКИ, ПРЕДИЗВИКАТЕЛСТВА И ПЕРСПЕКТИВИ
RISK MANAGEMENT IN PROJECT MANAGEMENT IN BULGARIA: PRACTICES, CHALLENGES AND PERSPECTIVES — Ivana Karadzhinska

084. ГЛОБАЛНИ СЛИВАНИЯ И ПРИДОБИВАНИЯ: КОРПОРАТИВНА УСТОЙЧИВОСТ ЧРЕЗ ЛИДЕРСТВО И УПРАВЛЕНИЕ НА ПРОМЯНАТА
GLOBAL MERGERS AND ACQUISITIONS: CORPORATE SUSTAINABILITY THROUGH LEADERSHIP AND CHANGE MANAGEMENT — Denitsa Aleksandrova-Salim

085. ОЦЕНКА НА ПОЛИТИКАТА ЗА РАЗВИТИЕ НА ИНТЕЛИГЕНТНИТЕ ТРАНСПОРТНИ СИСТЕМИ В БЪЛГАРИЯ В КОНТЕКСТА НА УСТОЙЧИВАТА ГРАДСКА МОБИЛНОСТ
ASSESSMENT OF THE POLICY FOR THE DEVELOPMENT OF INTELLIGENT TRANSPORT SYSTEMS IN BULGARIA IN THE CONTEXT OF SUSTAINABLE URBAN MOBILITY — Marta Klisurova

086. ОЦЕНКА НА ПРОЕКТНАТА ГЪВКАВОСТ – КОНЦЕПЦИЯ И ПИЛОТЕН ИНСТРУМЕНТ
ASSESSMENT OF PROJECT AGILITY – CONCEPT AND A PILOT TOOL — Stanislava Trifonova

087. ПРИРОДЕН ГАЗ И ИНДУСТРИАЛНА ТРАНСФОРМАЦИЯ В БЪЛГАРИЯ
NATURAL GAS AND INDUSTRIAL TRANSFORMATION IN BULGARIA — Rosen Simitchiev

088. ИНТЕЛИГЕНТНА МЕТОДИКА ЗА ПОВИШАВАНЕ РЕПУТАЦИЯТА НА СПОРТНИТЕ КЛУБОВЕ КАТО СРЕДСТВО ЗА ПОДОБРЯВАНЕ НА ФИНАНСОВОТО ИМ СЪСТОЯНИЕ
AN INTELLIGENT METHOD FOR ENHANCING THE REPUTATION OF SPORTS CLUBS AS A MEANS OF IMPROVING THEIR FINANCIAL CONDITION — Veselin Valchev

089. МОДЕЛИ ЗА ДИГИТАЛЕН КОНТРОЛ И ИНТЕГРИТЕТ ПРИ ПЛАНИРАНЕ И РАЗХОДВАНЕ НА ПУБЛИЧНИ СРЕДСТВА: ОПИТЪТ НА ИТАЛИЯ, ФРАНЦИЯ И КАЗАХСТАН И ВЪЗМОЖНОСТИТЕ ЗА ПРИЛАГАНЕ В БЪЛГАРИЯ
MODELS OF DIGITAL CONTROL AND INTEGRITY IN PUBLIC FUND MANAGEMENT: LESSONS FROM ITALY, FRANCE AND KAZAKHSTAN AND THEIR APPLICATION IN BULGARIA — Teodor Burov

090. ЕФЕКТИВНОСТТА НА ФИНАНСОВИЯ КОНТРОЛ – ИНСТРУМЕНТ ЗА ОГРАНИЧАВАНЕ НА КОРУПЦИЯТА
THE EFFECTIVENESS OF FINANCIAL CONTROL – AS A TOOL FOR CURBING CORRUPTION — Evgeni Baltov

091. ТАКСОНОМИЯТА НА ЕВРОПЕЙСКИЯ СЪЮЗ И РОЛЯТА Й ЗА БАНКОВИЯ СЕКТОР
THE EUROPEAN UNION TAXONOMY AND ITS ROLE IN THE BANKING SECTOR — Alie Asanova Borizanova

092. СЪВРЕМЕННИ ПРЕДИЗВИКАТЕЛСТВА ПРЕД РАЗВИТИЕТО НА ПУБЛИЧНИТЕ ПЕНСИОННИ СХЕМИ И ФОНДОВЕ В БЪЛГАРИЯ
CONTEMPORARY CHALLENGES TO THE DEVELOPMENT OF PUBLIC PENSION SCHEMES AND FUNDS IN BULGARIA — Valentina Chikova

093. ФИНАНСОВА УСТОЙЧИВОСТ И ДИВЕРСИФИКАЦИЯ НА ПРИХОДИТЕ В ДЪРЖАВНИТЕ ЛЕЧЕБНИ ЗАВЕДЕНИЯ В КОНТЕКСТА НА ЕВРОПЕЙСКИТЕ ПОЛИТИКИ И ПРАКТИКИ
FINANCIAL SUSTAINABILITY AND REVENUE DIVERSIFICATION IN PUBLIC HOSPITALS IN THE CONTEXT OF EUROPEAN POLICIES AND PRACTICES — Velimira Chupetlovska

094. ПРОДАЖБИ ЧРЕЗ LINKEDIN
SALES VIA LINKEDIN — Iliyan Boychev

095. МЕСТНО ЖИЛИЩНО УПРАВЛЕНИЕ В ЕВРОПА: СОЦИАЛНАТА ЕФЕКТИВНОСТ НА ГЕРМАНСКИЯ МОДЕЛ В СРАВНЕНИЕ С БЪЛГАРСКАТА ПРАКТИКА
LOCAL HOUSING GOVERNANCE IN EUROPE: THE SOCIAL EFFICIENCY OF THE GERMAN MODEL COMPARED TO BULGARIAN PRACTICE — Nevena Bambova

096. ВЛИЯНИЕТО НА ПРЕДСТОЯЩОТО ЧЛЕНСТВО В ЕВРОЗОНАТА ВЪРХУ СТРАТЕГИИТЕ ЗА ПРЕДПРИЕМАЧЕСТВО В БЪЛГАРИЯ: ВЪЗМОЖНОСТИ И РИСКОВЕ ЗА МАЛКИ И СРЕДНИ ПРЕДПРИЯТИЯ
THE IMPACT OF THE UPCOMING EUROZONE MEMBERSHIP ON ENTREPRENEURSHIP STRATEGIES IN BULGARIA: OPPORTUNITIES AND RISKS FOR SMES — Stefan Doykin

097. МАРКЕТИНГОВО ПЛАНИРАНЕ НА МАЛКИ И СРЕДНИ ПРЕДПРИЯТИЯ В КОНТЕКСТА НА ПРИСЪЕДИНЯВАНЕТО НА БЪЛГАРИЯ КЪМ ЕВРОЗОНАТА
MARKETING PLANNING OF SMALL AND MEDUIM-SIZED ENTERPRISES IN THE CONTEXT OF BULGARIA’S EUROZONE ACCESSION — Gergana Todorova

098. СТРАТЕГИЧЕСКИ ПОДХОДИ ЗА УСТОЙЧИВО РАЗВИТИЕ НА ЗАСТРАХОВАТЕЛНИ БРОКЕРИ В БЪЛГАРИЯ В УСЛОВИЯТА НА ЕВРОПЕЙСКА КОНКУРЕНЦИЯ
STRATEGIC APPROACHES FOR SUSTAINABLE DEVELOPMENT OF INSURANCE BROKERS IN BULGARIA UNDER EUROPEAN COMPETITION — Antonio Vasilev

099. MULTINATIONAL SUBSIDIARIES AND THE BULGARIAN ECONOMY: AN EVALUATION OF FOREIGN SUBSIDIARIES’ FINANCIAL PERFORMANCE AND THEIR ECONOMIC CONTRIBUTIONS WITHIN EU FRAMEWORK — Michaela Atanassova

100. THE PRICE ROUNDING EFFECT OF EURO ADOPTION IN BULGARIA — Vasil Spasov

101. МОДЕЛ НА КОГНИТИВЕН РИСК (CRF) КАТО НОВА РАМКА ЗА РАЗБИРАНЕ НА ПАЗАРНОТО ПОВЕДЕНИЕ И ИНТЕЛЕКТУАЛНАТА НЕСТАБИЛНОСТ
COGNITIVE RISK MODEL (CRF) AS A NEW FRAMEWORK FOR UNDERSTANDING MARKET BEHAVIOR AND INTELLECTUAL INSTABILITY — Teodor Minchev

102. СЕКТОРЕН АНАЛИЗ НА ТЪРГОВИЯТА НА ДРЕБНО В БЪЛГАРИЯ: ФОКУС ВЪРХУ ПОДОТРАСЛИ С ХРАНИТЕЛНИ И НЕХРАНИТЕЛНИ СТОКИ
SECTORAL ANALYSIS OF THE RETAIL TRADE IN BULGARIA: FOCUS ON FOOD AND NON-FOOD SUBSECTORS — Valeri Konicheva

103. СПОРАЗУМЕНИЕТО ЗА ИКОНОМИЧЕСКО ПАРТНЬОРСТВО МЕЖДУ ЕВРОПЕЙСКИЯ СЪЮЗ И ЯПОНИЯ И ЕФЕКТЪТ ВЪРХУ ИКОНОМИЧЕСКИТЕ ОТНОШЕНИЯ БЪЛГАРИЯ - ЯПОНИЯ
THE ECONOMIC PARTNERSHIP AGREEMENT BETWEEN THE EUROPEAN UNION AND JAPAN AND ITS EFFECT ON ECONOMIC RELATIONS BULGARIA - JAPAN — Raytcho Diankov

104. ДИНАМИКА НА РИСКОВИЯ ВНОС В БЪЛГАРИЯ ПО ЕВРОПЕЙСКИЯ РЕГЛАМЕНТ ЗА ПРЕДОТВРАТЯВАНЕ НА ОБЕЗЛЕСЯВАНЕТО
DYNAMICS OF RISK IMPORTS IN BULGARIA UNDER THE EUROPEAN DEFORESTATION REGULATION — Konstantin Markov

105. УКРАИНСКОТО ПРЕДПРИЕМАЧЕСТВО В БЪЛГАРИЯ В ПЕРИОДА 2020-2025
UKRANIAN ENTREPRENEURSHIP IN BULGARIA IN THE PERIOD 2020-2025 — Olha Leonova

106. ИНСТИТУЦИОНАЛНО ПАТЕНТНО ЗАЯВИТЕЛСТВО ОТ АКАДЕМИЧНИТЕ ИНСТИТУЦИИ В БЪЛГАРИЯ 1990-2025
INSTITUTIONAL PATENT APPLICATION FROM ACADEMIC INSTITUTIONS IN BULGARIA 1990 – 2025 — Nadya Denkova

107. ОТ ЛЮБОПИТСТВО КЪМ КОНКУРЕНТНО ПРЕДИМСТВО: НАГЛАСИ И ПРАКТИКИ ЗА ИЗПОЛЗВАНЕ НА ИЗКУСТВЕН ИНТЕЛЕКТ В БЪЛГАРСКИТЕ ПРЕДПРИЯТИЯ
FROM CURIOSITY TO COMPETITIVE ADVANTAGE: AI ATTITUDES AND PRACTICES IN BULGARIAN FIRMS — Deyan Yalamov

108. ВЪЗДЕЙСТВИЕТО НА РЕГУЛАТОРНАТА РАМКА БАЗЕЛ III ВЪРХУ СТАБИЛНОСТТА НА БАНКОВАТА СИСТЕМА В БЪЛГАРИЯ: АНАЛИЗ НА БАНКА ДСК АД
THE IMPACT OF BASEL III ON FINANCIAL STABILITY IN BULGARIA’S BANKING SECTOR: A FINANCIAL ANALYSIS OF DSK BANK AD — Ivana Naydenova; Petko Stoev

109. РОЛЯТА НА ДИГИТАЛНИТЕ ФИНАНСИ В РАЗВИТИЕТО НА ПРЕДПРИЕМАЧЕСКИЯ ПОТЕНЦИАЛ НА МЛАДИТЕ В БЪЛГАРИЯ
THE ROLE OF DIGITAL FINANCE IN THE DEVELOPMENT OF THE ENTREPRENEURIAL POTENTIAL OF YOUTH IN BULGARIA — Viktoria Zarkova

110. ДЕКЛАРИРАНЕ НА АВТОРСТВО И ВРЕМЕВО УДОСТОВЕРЯВАНЕ: eIDAS/ETSI СЪВМЕСТИМ ИНЖЕНЕРEН МОДЕЛ НА СЕРТИФИКАТА STAMPR
DECLARATION OF AUTHORSHIP AND TIME VERIFICATION: AN ЕIDAS/ETSI COMPLIANT ENGINEERING MODEL OF THE STAMPR CERTIFICATE — Boyan Georgiev

111. WHISTLEBLOWING КАТО АНТИКОРУПЦИОНЕН МЕХАНИЗЪМ В БАНКОВИЯ СЕКТОР
WHISTLEBLOWING AS AN ANTI-CORRUPTION MECHANISM IN THE BANKING SECTOR — Inna Mincheva

112. ИНФОРМАЦИОННИТЕ ТЕХНОЛОГИИ (ИТ) В КОНТРОЛА НА ОБЩЕСТВЕНИТЕ ПОРЪЧКИ В РЕПУБЛИКА СЪРБИЯ
INFORMATION TECHNOLOGIES (IT) IN THE CONTROL OF PUBLIC PROCUREMENT IN THE REPUBLIC OF SERBIA — Darko Anachkov

001. EUROPEAN MUTUAL BANKS AT A CROSSROADS: FACING CLIMATE CHALLENGES AND TRADITIONAL BANKS

Authors:

Sarah Goldman — Habilitation to Direct Research (HdR)-PhD in Econometrics, President of Lux-SIR (Scientific International Research), Luxembourg and Associate researcher at CRIISEA, University of Picardie Jules Verne, Amiens, France
Maya Jandah — Phd Student in Banking and Financial Economics at CRIISEA University of Picardie Jules Verne, Amiens, France

Abstract: Mutual banks hold a unique position in the European financial landscape, rooted in principles of solidarity and democratic governance. Despite their strong local ties and social mission, they face significant challenges in sustainability—particularly in transitioning toward a low-carbon economy. This paper traces the historical evolution of mutual banking, analyzes the reasons behind their lag in decarbonization compared to traditional banks, and offers concrete recommendations to strengthen their climate engagement. The study highlights the sector’s diverse climate performance through comparative analysis and data science tools, emphasizing the need for targeted institutional reforms to accelerate ecological transition.

Keywords: Mutual banks, sustainability, governance, and climate.

JEL: P13, Q56, G30, G39, Q50, Q59

Language of full text: English

Pages: 44–56

DOI: https://doi.org/10.37075/ISCYS.2026.1.001

Full text: ISCYS.2026.1.001.pdf

Към съдържанието

002. FORMING A SUSTAINABLE COMPETITIVE ADVANTAGE BASED ON INNOVATION IN THE CONTEXT OF EUROPEAN UNION REQUIREMENTS

Authors:

Pedchenko Nataliіa Serhiivna — Doctor of Economics, First Vice-Rector, Poltava University of Economics and Trade
Kononenko Zhanna Andriivna — PhD, Poltava University of Economics and Trade
Perebyynis Vasil Ivanovych — Doctor of Economics, Poltava University of Economics and Trade

Abstract: The theoretical and applied aspects of forming a sustainable competitive advantage for a company based on innovation have been studied. It has been substantiated that in the context of globalisation and rapid technological change, traditional factors of competitiveness are losing their effectiveness, giving way to the decisive role of innovative resources, knowledge and technologies. The aim of the study was to identify key areas for strengthening competitiveness in the Ukrainian and European markets. The essence of innovation as the main source of economic stability is explained, as it allows companies to generate higher economic value and create barriers to entry for competitors. It is emphasised that a sustainable advantage is achieved through a focused innovation strategy, which is implemented through two main vectors: cost leadership (through process innovation) and product differentiation (through product innovation). It has been analysed that intellectual capital (knowledge, skills, patents) is a key strategic resource that shapes technological advantage and the ability to implement one's own innovations or developments. The economic sustainability of such an advantage is guaranteed by legal protection and the complexity of copying. It is shown that the implementation of digitalisation, technological leadership and the development of a culture of innovation are integral components of the modern competitive model. Particular attention is paid to the Ukrainian and European contexts. It is emphasised that closer interaction between business and science, commercialisation of developments and state support for the innovation ecosystem are critical factors for the national economy. Building a sustainable competitive advantage is a systematic, multidimensional process where innovation is the foundation of long-term economic stability. Success is determined not only by a one-off invention, but by a company's ability to effectively transform intellectual capital into technological advantage, ensuring stable growth even in crisis conditions.

Keywords: competition, sustainable competitive advantage, economic stability, innovation, European Union.

JEL: O31, L10, L22, O34

Language of full text: English

Pages: 57–64

DOI: https://doi.org/10.37075/ISCYS.2026.1.002

Full text: ISCYS.2026.1.002.pdf

Към съдържанието

003. ОТ ЕВРОПЕЙСКАТА ИНТЕГРАЦИЯ КЪМ ЗЕЛЕНАТА ТРАНСФОРМАЦИЯ: БЪЛГАРСКИТЕ БАНКИ И КЛИМАТИЧНИЯТ РИСК ОТ ПРЕХОДА КЪМ НИСКОВЪГЛЕРОДНА ИКОНОМИКА

English title: FROM EUROPEAN INTEGRATION TO THE GREEN TRANSFORMATION: BULGARIAN BANKS AND CLIMATE TRANSITION RISK IN THE SHIFT TOWARD A LOW-CARBON ECONOMY

Authors:

Virginia Zhelyazkova — DSc (Econ.), Economic Research Institute at the Bulgarian Academy of Sciences/ University for Insurance and Finance, 3, Aksakov St., Sofia, Bulgaria

Abstract: The research analyses climate transition risk in the context of the EU’s green transformation and its specific relevance for the Bulgarian economy and banking system, which are characterised by high energy intensity and a bank-centered financing model. It shows that the risk is directly concentrated in banks’ balance sheets and acquires systemic importance, while euro area membership increases the intensity and supervisory binding nature of its management. Under conditions of limited adaptive capacity and structural differences among EU economies, this creates a risk of an asymmetric transition and tensions between financial stability and economic convergence.

Keywords: climate transition risk; green transformation; bank-centred model; financial stability; asymmetric transition

JEL: G28, Q54

Language of full text: Bulgarian

Pages: 65–73

DOI: https://doi.org/10.37075/ISCYS.2026.1.003

Full text: ISCYS.2026.1.003.pdf

Към съдържанието

004. BEHAVIOURAL INSIGHTS FOR PENSION POLICIES

Authors:

Stanislav Dimitrov — PhD, University of Insurance and Finance (UZF), Head of “Finance and insurance” Scientific Council, 1618 Sofia, Ovcha Kupel Distr., 1 Gusla str

Abstract: Bulgaria is facing significant challenges to the development of the pension system in the country. The ageing population in Bulgaria, the decrease in the relative share of the working population, the growing costs for pensions and the increasing deficit in the Pension Fund of the State Social Insurance, the results from the saving in supplementary pensions require measures to increase the participation and engagement in the funded plans. The research seeks answers to questions like how the lessons from the behavioural economics can be used for improved pension policies that lead to increased savings in supplementary pension plans. The analysis concludes that it is necessary to apply the behavioural insights in pension plan design and to maintain systematic measures based on the implications of the cognitive biases in order to improve and develop the pension system in Bulgaria. Among these measures are the auto-enrolment, increased role of the employers and the labour unions, tax reliefs, the EU label products, digital solutions, nudge orientated initiatives, auto-escalation and round-apps, and others.

Keywords: behavioural economics, pension policies, auto-enrolment, social nudge

JEL: G18, G41, J32

Language of full text: English

Pages: 74–82

DOI: https://doi.org/10.37075/ISCYS.2026.1.004

Full text: ISCYS.2026.1.004.pdf

Към съдържанието

005. ПОЗИТИВИ, ПОТЕНЦИАЛНИ РИСКОВЕ И ПЕРСПЕКТИВИ ЗА МСП ПРИ ЧЛЕНСТВОТО НА БЪЛГАРИЯ В ЕВРОЗОНАТА

English title: POSITIVITIES, POTENTIAL RISKS AND PROSPECTS FOR SMEs IN BULGARIA'S MEMBERSHIP IN THE EURO AREA

Authors:

Andrey Zahariev — PhD, University of Insurane and Finance, Department of Finance and Insurance, Sofia, 1 Gusla str

Abstract: Bulgaria's membership in the Eurozone is a fundamental recognition for the country and an opportunity for every economic operator in it. Achieving the Maastricht compliance criteria at the beginning of 2025 is the result of a favourable combination of a series of factors and actions of the three main economic agents - the government, households and companies. It is among companies that the new currency environment creates the need for an in-depth debate on the positives, potential risks and prospects for business development in the conditions of the Eurozone. On this basis, the report defines SMEs as the object of study in the event of Bulgaria's membership in the Eurozone, and its subject - the positives, potential risks and prospects for SMEs arising from Bulgaria's accession to the Eurozone. The hypothesis tested in the study is the presence of heterogeneous effects on SMEs from the adoption of the single currency "euro" in Bulgaria, which have both positive and risky dimensions, the precise definition and in-depth discussion of which forms new prospects for hundreds of thousands of Bulgarian companies in the highly competitive environment of the Eurozone. The aim of the report is to firstly highlight the expected positives from the Eurozone for Bulgarian SMEs, including taking into account the synergistic effect of our admission to the Schengen area, secondly the possible dangers and risks and finally – to argue business prospects through the prism of a large-scale revaluation of a number of company non-current (long-term) tangible assets, following the positive trends in the real estate market and the construction sector with a specific analysis of data for the last 5 years, sourced from the Registry Agency and the National Statistical Institute.

Keywords: Eurozone, SMEs, Euro, Schengen Area

JEL: D40, D60, F45

Language of full text: Bulgarian

Pages: 83–97

DOI: https://doi.org/10.37075/ISCYS.2026.1.005

Full text: ISCYS.2026.1.005.pdf

Към съдържанието

006. СТАНДАРТИ ЗА ОТЧИТАНЕ НА УСТОЙЧИВОСТТА ВЪВ ВЕЛИКОБРИТАНИЯ – КОНЦЕПТУАЛНА ОСНОВА И ПЕРСПЕКТИВИ

English title: SUSTAINABILITY REPORTING STANDARDS IN THE UK – CONCEPTUAL BASIS AND PERSPECTIVES

Authors:

Snejana Bacheva — PhD, Department of „Accounting and Analysis“, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia
Roumiana Pozharevska — PhD, Department of „Accounting and Analysis“, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: In recent years, governments have been working to create an appropriate framework for the disclosure of reliable and relevant sustainability-related information. Several processes are underway around the world to develop such a framework. On the one hand, the European Commission has adopted the Corporate Sustainability Reporting Directive (CSRD) and European Reporting Standards for sustainability reporting. On the other hand, the newly established International Sustainability Standards Board (ISSB), in close cooperation with the International Accounting Standards Board (IASB), has developed and adopted two international standards - IFRS S1 General Requirements for Sustainability-Related Financial Disclosures and IFRS S2 Climate-Related Disclosures for the Disclosure of Sustainability and Climate-Related Risks and Opportunities. The adoption of standards increases consumer confidence in sustainability-related disclosures, leads to the application of a common conceptual basis for disclosure and overcomes the asymmetry between investors' information needs and the disclosed information. UK stakeholders also recognise that businesses are exposed, directly or through third parties, to significant risks from climate change and that investors need accurate and timely information to assess how climate-related risks and opportunities impact their financial position. This raises the need for an appropriate regulatory framework to set out disclosure requirements. The report highlights the approach taken in the UK to develop an appropriate disclosure framework and to introduce sustainability reporting standards – UK SRS S1 and UK SRS S2.

Keywords: sustainability, sustainability standards, international sustainability standards council, UK sustainability standards

JEL: M40, M41

Language of full text: Bulgarian

Pages: 98–108

DOI: https://doi.org/10.37075/ISCYS.2026.1.006

Full text: ISCYS.2026.1.006.pdf

Към съдържанието

007. ПРЕДИЗВИКАТЕЛСТВА ПРИ СЪСТАВЯНЕТО НА ОТЧЕТИ ЗА УСТОЙЧИВОСТТА

English title: CHALLENGES IN PREPARATION OF SUSTAINABILITY REPORTS

Authors:

Ali Veysel — professor, PhD, University of Insurance and Finance, 1 Gusla Street, Sofia

Abstract: The report examines the challenges in preparing sustainability reports in accordance with the European Sustainability Reporting Standards (ESRS). It traces the evolution of the regulatory framework and emphasizes the standards' detail, materiality assessment, and other difficulties. Empirical data is presented, demonstrating significant variations in reporting practice. The conclusion reached is that for effective ESRS implementation, it is crucial to study the good practices of established enterprises in the relevant sector.

Keywords: Sustainability Statements; European Sustainability Reporting Standards (ESRS); Environmental, Social, and Governance (ESG) Matters.

JEL: M41

Language of full text: Bulgarian

Pages: 109–116

DOI: https://doi.org/10.37075/ISCYS.2026.1.007

Full text: ISCYS.2026.1.007.pdf

Към съдържанието

008. СЪВРЕМЕННИЯТ КООПЕРАТИВЕН БИЗНЕС МОДЕЛ – ПРЕДИЗВИКАТЕЛСТВА И ПЕРСПЕКТИВИ

English title: THE CONTEMPORARY COOPERATIVE BUSINESS MODEL – CHALLENGES AND PERSPECTIVES

Authors:

Ivan Boevsky — PhD, Department “Economics”, New Bulgarian University, Sofia
Krasimir Kostenarov — PhD, Department “Economics”, New Bulgarian University, Sofia

Abstract: This paper examines the contemporary cooperative business model as a distinctive organizational form shaped by cooperatives’ dual nature as both an enterprise and a membership community. Building on this premise, the study operationalizes the “value creation–delivery–capture” framework and argues that cooperative value stems not only from market transactions but also from members’ coordination and interaction, since members simultaneously act as users, owners, and carriers of democratic control. The analysis identifies three major challenge areas affecting cooperative sustainability: (1) weakening member participation, information, and engagement, which disrupts the causal link between member promotion and economic outcomes; (2) managerial professionalization without robust accountability, resulting in competence asymmetries, formalized democracy, and reduced effective member control; and (3) intensified market pressure and competition, which increase the likelihood of convergence toward investor-oriented model. The paper then outlines perspectives for sustainable development: strengthening the alignment between cooperative values, governance, and economic performance; implementing systematic education, training, and information as a functional mechanism enabling meaningful democratic oversight; and fostering business model innovation, including digitalization to enhance transparency, member involvement, and operational efficiency.

Keywords: cooperatives; business model; governance; member value; sustainability

JEL: P13, L21, M10, D23, Q01

Language of full text: Bulgarian

Pages: 117–129

DOI: https://doi.org/10.37075/ISCYS.2026.1.008

Full text: ISCYS.2026.1.008.pdf

Към съдържанието

009. ВЛИЯНИЕ НА НЯКОИ АСПЕКТИ НА ДИГИТАЛИЗАЦИЯТА ВЪРХУ ДИНАМИКАТА НА ПРОИЗВОДИТЕЛНОСТТА НА ТРУДА В СТРАНИТЕ ОТ ЦИЕ

English title: IMPACT OF SOME ASPECTS OF DIGITALIZATION ON LABOUR PRODUCTIVITY DYNAMICS IN CEE COUNTRIES

Authors:

Konstantin Kolev — PhD, University of Forestry, bul. "Kliment Ohridski" 10, 1756 Sofia
Maya Tsoklinova — PhD, University of National and World Economy, 1700 Sofia, Student District, No.19 December 8th str

Abstract: The aim of this article is to examine the impact of the level of digital literacy of the population and investments in high technologies and scientific research on labour productivity in Central and Eastern European (CEE) countries. To achieve this goal, annual data from Eurostat for the period 2016-2023 are used for 11 CEE countries – Bulgaria, Estonia, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Hungary, Croatia and the Czech Republic. A panel regression model with fixed time effects is specified. The coefficient of determination (R2) of the model is 0.58. In other words, about 58% of the changes in the value of the dependent variable – labour productivity per employee can be explained by the total influence of the variables included in the model – business enterprises’ expenditure on research and development (R&D) in high-tech sectors, government budget allocations for R&D, digital literacy of the population and fixed time effects. The regression coefficients are statistically significant and provide grounds to conclude that business enterprises’ expenditure on R&D in high-tech sectors and digital literacy of the population have a positive impact on labour productivity per employee.

Keywords: labour productivity, business enterprises’ expenditure on R&D, digitalization, panel data, fixed effects.

JEL: E24, C51

Language of full text: Bulgarian

Pages: 130–145

DOI: https://doi.org/10.37075/ISCYS.2026.1.009

Full text: ISCYS.2026.1.009.pdf

Към съдържанието

010. A NONLINEAR COPULA-GRAPH AGENT-BASED FRAMEWORK FOR CROSS-GENERATIONAL RISK MODELING IN PENSION SYSTEMS

Authors:

Radostin Vazov — PhD, University of National and World Economy (UNWE), Faculty of Economics and Business Administration, Sofia University St. Kliment Ohridski

Abstract: We propose a novel framework for modeling cross-generational risks in pension systems by integrating agent-based dynamics with non-parametric copulas and graph-based causal inference. Traditional pension models often rely on linear correlation assumptions, which fail to capture complex interdependencies between generations, such as asymmetric tail risks and demographic cascades. The proposed method introduces a Generational Agent Network (GAN), where every cohort is depicted as an independent agent possessing attributes that denote participation levels, longevity, and intergenerational support ratios. These agents communicate via a Non-Parametric Copula Layer (NCL) that models nonlinear relationships without rigid parametric constraints, which supports the identification of emerging risks such as concurrent longevity shocks. Additionally, a Graph Causality Engine (GCE) detects cross-generational causal relationships, illustrating the nonlinear impact of Baby Boomers’ retirement decisions on the economic pressures faced by later generations. The framework converts traditional actuarial inputs into agent states by employing deep learning methods, subsequently feeding risk metrics back into actuarial valuation to dynamically modify reserve requirements. The model, deployed on a heterogeneous computing framework, integrates GPU-accelerated copula computation with decentralized graph analysis to perform real-time policy simulations. Our method resolves key deficiencies in pension risk assessment by directly including intergenerational linkages and complex nonlinear interactions, thus establishing a stronger basis for extended financial strategy. The findings illustrate the framework’s capacity to identify concealed risks and guide flexible funding approaches, which holds substantial relevance for policymakers and pension fund administrators.

Keywords: Pension Systems, Pension Fund, Generational Agent Network, Non-Parametric Copula Layer, Risk Management

JEL: C10, G23

Language of full text: English

Pages: 146–163

DOI: https://doi.org/10.37075/ISCYS.2026.1.010

Full text: ISCYS.2026.1.010.pdf

Към съдържанието

011. ОБРАЗОВАНИЕТО НА ПОТРЕБИТЕЛИТЕ ПО ОСНОВНИ БАНКОВИ ВЪПРОСИ – ПРИОРИТЕТ ЗА ПОСТИГАНЕ НА ДИГИТАЛЕН И ЗЕЛЕН ПРЕХОД

English title: CONSUMER EDUCATION ON BASIC BANKING ISSUES – A PRIORITY FOR ACHIEVING A DIGITAL AND GREEN TRANSITION

Authors:

Reneta Dimitrova — PhD, Department of Economics, New Bulgarian University, 1618 Sofia, 21 Montevideo Street

Abstract: A necessary and essential element of the relationship between banks and their customers is trust, because its loss can cause serious crises in the bank's solvency and push it towards bankruptcy. A very important prerequisite for achieving trust is the awareness and knowledge of customers using banking products and services - loans, deposits, online and mobile banking, etc. This knowledge is part of the banking culture, the basis of which is education in basic banking issues, which includes knowledge of banking terms and the rules for using banking products and services, the Internet and mobile applications of commercial banks.

Keywords: commercial banks, consumers, digitalization, green transition.

JEL: G00

Language of full text: Bulgarian

Pages: 164–171

DOI: https://doi.org/10.37075/ISCYS.2026.1.011

Full text: ISCYS.2026.1.011.pdf

Към съдържанието

012. СОЦИАЛНАТА И СОЛИДАРНА ИКОНОМИКА В БЪЛГАРИЯ В КОНТЕКСТА НА ЧЛЕНСТВОТО В ЕС: ПРЕДИЗВИКАТЕЛСТВА И ПЕРСПЕКТИВИ

English title: SOCIAL AND SOLIDARITY ECONOMY IN BULGARIA IN THE CONTEXT OF EU MEMBERHSIP: CHALLENGES AND PERSPECTIVES

Authors:

Tsvetelina Marinova — PhD, New Bulgarian University, Montevideo, 21, Sofia

Abstract: The social economy offers concrete and innovative solutions to major challenges that states must address in the context of persistent and mutually reinforcing economic crises and growing risks to people’s lives and well-being. In Bulgaria, the social economy has also experienced rapid development in recent years, with European measures to encourage and support the creation of new alternative business models and civil society projects acting as a key driving force. The aim of this article is to provide a brief overview of policies in the EU and in Bulgaria and to outline some of the main challenges and opportunities for the development of the sector in the country.

Keywords: social and solidarity economy, Bulgaria, EU, cooperatives, social enterprises

JEL: B55, P15, L31

Language of full text: Bulgarian

Pages: 172–179

DOI: https://doi.org/10.37075/ISCYS.2026.1.012

Full text: ISCYS.2026.1.012.pdf

Към съдържанието

013. „РУМЪНСКИ“ ИКОНОМИЧЕСКИ СЦЕНАРИЙ – ЩО Е ТО?

English title: THE „ROMANIAN“ ECONOMIC SCENARIO – WHAT DOES IT MEAN?

Authors:

Emil Kalchev — PhD, is member of the department of Economics at the New bulgarian university, 1618 Sofia, 21 Montevideo street and chief economist at United bulgarian bank, 1000 Sofia, 89b Vitosha blvd

Abstract: The Romanian economy is shifting from a prolonged period of expansion to a phase of deterioration, marked by slowing economic activity, widening twin deficits, persistently high inflation, and other vulnerabilities. The weak GDP dynamics are driven by the negative contribution of net exports and investment to growth. Given the country’s relatively low competitiveness and its dependence on imports, fiscal expansion is amplifying pressures on the current account. This economic trajectory — a combination of chronic fiscal imbalances, a widening current account deficit, political turbulence, elevated inflation, rising public debt, and slowing economic growth — serves as a warning about the risks of prolonged deficit-financed excess consumption, fuelled by unjustified rapidly increasing pensions and public sector wages.

Keywords: Romania, GDP, budget balance, current account

JEL: Е60, Е62, H60

Language of full text: Bulgarian

Pages: 180–189

DOI: https://doi.org/10.37075/ISCYS.2026.1.013

Full text: ISCYS.2026.1.013.pdf

Към съдържанието

014. ЕМПИРИЧЕН АНАЛИЗ НА ВРЪЗКАТА МЕЖДУ ВАЛУТНИЯ КУРС ЩАТСКИ ДОЛАР/ЕВРО, ЦЕНИТЕ НА ЗЛАТОТО И ПРОМЕНИТЕ В МИТНИЧЕСКАТА ПОЛИТИКА НА САЩ

English title: EMPIRICAL ANALYSIS OF THE RELATIONSHIP BETWEEN THE USD/EUR EXCHANGE RATE, GOLD PRICES, AND U.S. CUSTOMS POLICY CHANGES

Authors:

Elena Stavrova — PhD, South-West University “Neofit Rilski” -Blagoevgrad
Olga Petkova-Mihaylova — regular PhD student in Department “Finance and accounting”, South-West University “Neofit Rilski” -Blagoevgrad
Georgy Nikolov — student in South-West University “Neofit Rilski” -Blagoevgrad

Abstract: The study investigates the interrelationship between the USD/EUR exchange rate, Gold prices, and changes in U.S. customs policy, applying econometric methods to identify causal and structural dependencies among these key macroeconomic indicators. The primary objective is to assess how shifts in U.S. trade and tariff regulations influence the strength of the U.S. dollar relative to the euro and the behavior of gold as a global reserve asset. The research employs time-series data covering the period 2000–2025, sourced from international financial databases such as the ECB, FRED, and the World Gold Council. Using multiple regression analysis and the Granger causality test, the study evaluates both short-term and long-term linkages among the selected variables. Preliminary assumptions suggest that stricter customs policies and higher tariffs may lead to a temporary appreciation of the U.S. dollar, while increasing global uncertainty and gold demand. The empirical results are expected to contribute to a deeper understanding of the dynamic interaction between monetary, trade policy instruments, and commodity markets, offering insights relevant to policymakers, investors, and international economists. The novelty of the research lies in 55 Assoc. Prof. Elena Stavrova, PhD, South-West University “Neofit Rilski”-Blagoevgrad, e-mail: stavrova@swu.bg 56 Olga Petkova-Mihaylova, regular PhD student in Department “Finance and accounting”, South-West University “Neofit Rilski”-Blagoevgrad, e-mail: petkovaolia@gmail.com 57 Georgy Nikolov, student in South-West University “Neofit Rilski”-Blagoevgrad, e-mail: georgin805@gmail.com integrating trade policy variables into the econometric modelling of exchange rate and gold price dynamics.

Keywords: exchange rate, tariffs, global instability, US tariff policy

JEL: F13, F31, F41, F51, F52, F62

Language of full text: Bulgarian

Pages: 190–210

DOI: https://doi.org/10.37075/ISCYS.2026.1.014

Full text: ISCYS.2026.1.014.pdf

Към съдържанието

015. ВЛИЯНИЕ НА КОРУПЦИОННАТА СРЕДА ВЪРХУ ДИНАМИКАТА НА ПРЕКИТЕ ЧУЖДЕСТРАННИ ИНВЕСТИЦИИ В УСЛОВИЯТА НА ПРИСЪЕДИНЯВАНЕ И ЧЛЕНСТВО В ЕВРОЗОНАТА

English title: THE IMPACT OF THE CORRUPTION ENVIRONMENT ON THE DYNAMICS OF FOREIGN DIRECT INVESTMENT IN THE CONTEXT OF ACCESSION AND MEMBERSHIP IN THE EUROZONE

Authors:

Vladimir Tsenkov — PhD, at South-West University “Neofit Rilski”, Bulgaria
Galya Vladimirova — PhD student in Finance at South-West University “Neofit Rilski”, Bulgaria

Abstract: The empirical study aims to use the Granger causality test to verify the existence of mutual determinism between the dynamics of foreign direct investment (FDI) in the periods before and after the accession to the Eurozone of a selected group of countries and a set of five indices, calculated annually using World Bank methodology, which reflect relevant indicators of governance related to both the corruption climate and efforts at the state level to combat corruption. The practical experience of the countries studied (Estonia, Cyprus, Latvia, Lithuania, Malta, Slovakia, and Slovenia), which joined the Eurozone between 2007 – 2015, allows immediate conclusions to be drawn about the impact of the corruption environment on the dynamics of foreign direct investment, divided into inflows and outflows, within two periods of equal duration before and after the adoption of the single European currency. The empirically established distinction between the impact of different corruption indices on incoming and outgoing FDI flows makes it possible not only to classify them according to the degree of their impact, but also to clearly distinguish the change that occurred as a result of joining the Eurozone. While in the pre-accession period the most significant impact on FDI inflows was exerted by the indicators of Political Stability and Government Effectiveness, after joining the Eurozone the indicators of Rule of Law and Regulatory Efficiency came to the fore. In the same context of analysis, we can point out that while before the adoption of the single European currency, the rule of law and regulatory efficiency were the leading indicators for FDI outflows, after joining the Eurozone, the decision to withdraw investments from the countries studied is determined to a significantly lesser extent by the direct impact of corruption indicators, but rather on the basis of economic and market expediency.

Keywords: Corruption environment, foreign direct investments, anti-corruption indices

JEL: C58; D63; E44; F210

Language of full text: Bulgarian

Pages: 211–231

DOI: https://doi.org/10.37075/ISCYS.2026.1.015

Full text: ISCYS.2026.1.015.pdf

Към съдържанието

016. ПРЕПЯТСТВИЯ ПРЕД СРЕБЪРНАТА ИКОНОМИКА В БЪЛГАРИЯ

English title: OBSTACLES TO THE SILVER ECONOMY IN BULGARIA

Authors:

Nikolay Ninov — PhD, Tsenov Academy of Economics, Svishtov, Bulgaria, 5250 Svishtov, Bulgaria, Address:2 Em. Chakarov Str
Valentina Ninova — PhD, Tsenov Academy of Economics, Svishtov, Bulgaria, 5250 Svishtov, Bulgaria, Address:2 Em. Chakarov Str

Abstract: The concept of the “Silver Economy” should not be reduced solely to extracting benefits from the demographic situation through intensive investments in sectors related to ageing. Behind its idea lies the understanding that far-sighted anticipation, planning, and active actions on the upcoming social and socio-economic transformations related to ageing and the increase in the share of elderly people in the total population of the country will ensure that longevity is synonymous with quality of life. However, is it possible to achieve this goal, and what are the obstacles to implementing the concept in our country?

Keywords: Silver economy, demography, ageing, life expectancy, retirees

JEL: I31, J11, J14

Language of full text: Bulgarian

Pages: 232–242

DOI: https://doi.org/10.37075/ISCYS.2026.1.016

Full text: ISCYS.2026.1.016.pdf

Към съдържанието

017. AUDIT OVERSIGHT IN THE EUROPEAN UNION AND THE CHALLENGES FOR BULGARIA’S EUROZONE ACCESSION

Authors:

Diyana Bankova — PhD, University of Insurance and Finance, Sofia, St. Gusla № 1

Abstract: This study explores the system of audit oversight in the European Union, with a particular focus on the role of the Committee of European Auditing Oversight Bodies (CEAOB) and its implications for Bulgaria. Effective audit oversight is essential for financial stability, transparency, and investor confidence — key prerequisites for the smooth functioning of capital markets and the banking sector within the Eurozone. The research analyzes the evolution and functions of the EU’s audit oversight framework, emphasizing its harmonization role across Member States. Special attention is given to Bulgaria’s national supervisory authority and its integration within the European structure. The paper discusses both the benefits and challenges Bulgaria faces in aligning with EU audit standards, including capacity building, ESG reporting, and digitalization of audit practices. In light of Bulgaria’s planned accession to the Eurozone on 1 January 2026, the paper argues that strengthening audit oversight and control systems is not only a regulatory necessity but also a strategic instrument for enhancing trust in the Bulgarian financial sector. The conclusions highlight the importance of closer cooperation between national and European institutions and provide recommendations for ensuring readiness for full participation in the Eurozone.

Keywords: Oversight, authority, financial audit, control systems, EU integration, frauds.

JEL: H83, F02, F36, K24

Language of full text: English

Pages: 243–250

DOI: https://doi.org/10.37075/ISCYS.2026.1.017

Full text: ISCYS.2026.1.017.pdf

Към съдържанието

018. ПРИЛОЖЕНИЯ НА ИЗКУСТВЕНИЯ ИНТЕЛЕКТ В МАРКЕТИНГОВАТА ДЕЙНОСТ: РЕАЛНОСТИ И ПЕРСПЕКТИВИ

English title: APPLICATIONS OF ARTIFICIAL INTELLIGENCE IN MARKETING: REALITIES AND PROSPECTS

Authors:

Димитър Трендафилов — PhD, Department of Economics, New Bulgarian University, 1618 Sofia, 21 Montevideo Street

Abstract: The digitalization of business processes has been underway for decades, but it is now increasingly clear that companies of all sizes need a digitalization strategy more than ever. The exponential development and spread of artificial intelligence over the past three years and its accessibility at the operational level thanks to language models and the ability to combine different assistants is changing both operations through digital channels and responding to changes in the consumer search journey in general. The report aims to form briefly a snapshot of the penetration of AI, the results that its use provides and, accordingly, the new requirements that it introduces into the profession of a marketer.

Keywords: marketing, artificial intellect, digital transformation, data-driven strategy

JEL: M21, M31

Language of full text: Bulgarian

Pages: 251–259

DOI: https://doi.org/10.37075/ISCYS.2026.1.018

Full text: ISCYS.2026.1.018.pdf

Към съдържанието

019. СТРАТЕГИИ ЗА ОПЕРАТИВНО ФИНАНСОВО УПРАВЛЕНИЕ ЧРЕЗ МОДИФИЦИРАНЕ НА ОБОРОТНИЯ КАПИТАЛ И СРЕДНАТА ЦЕНА НА ФИНАНСИРАНЕ

English title: OPERATIONAL FINANCIAL MANAGEMENT STRATEGIES THROUGH MODIFICATION OF WORKING CAPITAL AND THE AVERAGE COST OF CAPITAL

Authors:

Evgeni Raykov — PhD, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: In this paper we present the practical aspects of the operational financial management based on the strategies for control of working capital, the capital structure and the average cost of capital. In order to fulfil this purpose it is necessary to formulate analytical modifications of the working capital in combination with optimization of its structure and the average cost of financing. These specific generated indicators will allow to define the level of operational risk that will allow maximization of financial benefits from currently used capital, but still keeping an adequate cost of available financing options.

Keywords: operational financial management, modification of working capital, weighted average cost of working capital

JEL: G32

Language of full text: Bulgarian

Pages: 260–271

DOI: https://doi.org/10.37075/ISCYS.2026.1.019

Full text: ISCYS.2026.1.019.pdf

Към съдържанието

020. INNOVATIONS IN THE HOTEL AND RESTAURANT BUSINESS OF THE EUROPEAN UNION COUNTRIES

Authors:

Nataliia Kyrnis — PhD in Economics, Department of Hotel, Restaurant and Resort Business, Poltava University of Economics and Trade (PUET), Poltava, Ukraine

Abstract: The article examines the features and trends of innovation development in the hotel and restaurant business of the European Union (EU). The hospitality sector (HoReCa) plays a significant role in the EU economy, generating about 8% of total employment and making a significant contribution to GDP. In the face of global challenges such as digital transformation, climate change and post-pandemic recovery, innovation has become a key factor in supporting competitiveness and ensuring sustainable growth. The aim of the study is to systematize modern approaches to the implementation of innovations in the hotel and restaurant business of the EU countries and identify trends that determine the development of the hospitality industry in the 21st century. The methodological basis includes content analysis, comparative analysis and case studies based on statistical data. The results of the study show that innovation activities in the EU hospitality sector cover technological (artificial intelligence, Internet of Things, automation systems), environmental (energy efficiency, waste reduction), organizational (digital HR, agile management) and marketing (AR/VR, personalization) innovations. Regional analysis shows that Northern Europe leads in eco-innovation, Western Europe in digitalization, Southern Europe in cultural and experiential innovation, and Central and Eastern Europe in hybrid solutions based on startups. Innovation processes in the EU hospitality industry are multi-layered, combining technological progress with sustainability and social responsibility. Despite existing barriers, such as uneven digitalization and the shortage of qualified personnel, the innovation potential of the HoReCa sector remains one of the key drivers of European competitiveness.

Keywords: innovations, hospitality industry, European Union, digitalization, sustainability, HoReCa, competitiveness

JEL: L83, O30, O52

Language of full text: English

Pages: 272–280

DOI: https://doi.org/10.37075/ISCYS.2026.1.020

Full text: ISCYS.2026.1.020.pdf

Към съдържанието

021. СИЛНОТО ОНЛАЙН ПРИСЪСТВИЕ НА РАБОТОДАТЕЛЯ И НЕГОВАТА ВРЪЗКА С ПРИВЛЕКАТЕЛНОСТТА НА ОРГАНИЗАЦИЯТА

English title: THE EMPLOYER'S STRONG ONLINE PRESENCE AND ITS RELATIONSHIP WITH THE ORGANIZATION'S ATTRACTIVENESS

Authors:

Antoaneta Valkanova — PhD student, Department "Industrial Business", Business Faculty, UNWE, Sofia
Zornitsa Yordanova — PhD, Department "Industrial Business", Business Faculty, UNWE, Sofia

Abstract: This paper examines the hypothesis that a strong online presence of the employer is positively related to the attractiveness of the organization. The report presents the theoretical framework, a literature review, the applied methodology, and the main empirical results. The contributions and limitations are discussed, as well as the practical implications for organizations developing their digital image. The findings confirm that online presence can be considered a decisive factor for employer brand attractiveness. The contributions and limitations are highlighted, as well as guidelines for the practical implementation of online presence in employer brand management.

Keywords: employer brand; online presence; digitalization; social media; employer attractiveness

JEL: M12, M54, O33, O30

Language of full text: Bulgarian

Pages: 281–287

DOI: https://doi.org/10.37075/ISCYS.2026.1.021

Full text: ISCYS.2026.1.021.pdf

Към съдържанието

022. ИНОВАЦИИ И ДИГИТАЛНА ТРАНСФОРМАЦИЯ В ПУБЛИЧНИЯ СЕКТОР: РОЛЯТА НА ВЪТРЕШНОТО ПРЕДПРИЕМАЧЕСТВО

English title: INNOVATION AND DIGITAL TRANSFORMATION IN THE PUBLIC SECTOR: THE ROLE OF INTRAPRENEURSHIP

Authors:

Nikolay Vankov — UNWE, Department of Entrepreneurship, Business Faculty, UNWE, Sofia
Nadezhda Nikolova — doctoral student, UNWE, Department of Entrepreneurship, Business Faculty, UNWE, Sofia

Abstract: The report analyses how intrapreneurship accelerates innovation and digital transformation in the public sector. Based on a theoretical review and good practices from Estonia (X-Road), Denmark (MitID/“digital by default”) and the United Kingdom (GDS), recommendations for management decisions, organizational culture and technology architectures are derived. The study focuses on Bulgaria in the context of the 20th anniversary of the signing of the EU Accession Treaty and the upcoming membership in the Eurozone from 01.01.2026, which creates a window for systemic reforms and interoperability, simplification and trust in digital identity. Policies to stimulate intrapreneurship are proposed: adaptive budgeting, portfolio-management of experiments, regulatory “sandboxes”, “product team” models and the use of European frameworks such as eIDAS and the “once only” principle. In conclusion, a roadmap for capacity, culture and technology is formulated, relevant to the Bulgarian institutional environment and the requirements of the Eurozone.

Keywords: public sector, intrapreneurship, digital transformation, innovation.

JEL: I23, O31, O33, O38, H83, M13

Language of full text: Bulgarian

Pages: 288–307

DOI: https://doi.org/10.37075/ISCYS.2026.1.022

Full text: ISCYS.2026.1.022.pdf

Към съдържанието

023. EVELOPING INCLUSIVE ENTREPRENEURSHIP – FOR MORE YOUNG ENTREPRENEURS

Authors:

Silviya Georgieva — PhD, Department of Entrepreneurship, UNWE, Sofia

Abstract: Youth entrepreneurship is an integral part of inclusive entrepreneurship. Encouraging more young people to start their own businesses requires knowledge of their views on the factors that most strongly influence business success and their strengths that they can use in the competitive fight. For this reason, the focus of the publication is: to research and analyze the factors that determine entrepreneurial success and to assess the advantages of young entrepreneurs. The object of the study are students studying an entrepreneurial discipline. 230 respondents have been surveyed, and the study is structured in several stages. The results show that the leading factors and strengths are the personal qualities and abilities of the entrepreneur, in combination with the business environment and appropriate education. The summaries and recommendations made can serve stakeholders shaping policies in this area.

Keywords: entrepreneurship, youth entrepreneurship, inclusive entrepreneurship

JEL: L26

Language of full text: English

Pages: 308–315

DOI: https://doi.org/10.37075/ISCYS.2026.1.023

Full text: ISCYS.2026.1.023.pdf

Към съдържанието

024. ИЗМЕРВАНЕ НА ЛИКВИДНОСТТА ЧРЕЗ ИДЕНТИФИЦИРАНЕ НА ПАРИЧНИТЕ ПОТОЦИ

English title: LIQUIDITY MEASUREMENT THROUGH CASH FLOW IDENTIFICATION

Authors:

Evgeni Raykov — PhD, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: In this paper we present the theoretical and practical aspects of measuring liquidity by identifying the real cash flows in the company. This approach is different from the balance and time approach, but it provides the purest possible financial view of the most important function of modern financial management. Constructing indicators based on cash flows allows for the most direct liquidity management in the short-term horizon, a more realistic presentation of the problem of covering obligations and fewer opportunities for manipulation of the values of the input variables. At the same time, the use of cash flows is associated with their high volatility, their future uncertainty and the need for a detailed internal information in their determination.

Keywords: cash flows, firm’s liquidity, liquidity measurement indicators

JEL: G30

Language of full text: Bulgarian

Pages: 316–324

DOI: https://doi.org/10.37075/ISCYS.2026.1.024

Full text: ISCYS.2026.1.024.pdf

Към съдържанието

025. НОВИЯТ МОДЕЛ ЗА ОТЧИТАНЕ НА ДИНАМИЧНОТО УПРАВЛЕНИЕ НА ЛИХВЕНИЯ РИСК

English title: THE NEW MODEL OF ACCOUNTING FOR DYNAMIC INTEREST RATE RISK MANAGEMENT

Authors:

Lilyana Dzhoneva — Associate Professor PhD, University of National and World Economy (UNWE), Accounting and Analysis Department, office 1053

Abstract: The present report analyses the new model proposed by the International Accounting Standards Board for accounting for dynamic interest rate risk management, known as the risk mitigation accounting model. The model aims to overcome the limitations of the current hedging requirements under IFRS 9 Financial Instruments and IAS 39 Financial Instruments: recognition and measurement by providing a more accurate representation of net revaluation risk management at the portfolio level. The report examines the scope, key concepts, and mechanism of the risk mitigation adjustment, as well as its relationship to actual risk management in financial institutions.

Keywords: IFRS, financial instruments, risk management, hedging

JEL: M41

Language of full text: Bulgarian

Pages: 325–335

DOI: https://doi.org/10.37075/ISCYS.2026.1.025

Full text: ISCYS.2026.1.025.pdf

Към съдържанието

026. БИЗНЕС МОДЕЛИ И ДИГИТАЛНА ТРАНСФОРМАЦИЯ. ПОДХОДИ И СТРАТЕГИИ

English title: BUSINESS MODELS AND DIGITAL TRANSFORMATION. APPROACHES AND STRATEGIES

Authors:

Tsvetelina Andreeva — PhD, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: The aim of this report is to explore the interconnections between digital transformation and business models, which are reshaping the business environment and require new approaches and strategies. Digital transformation is important for the modern business environment, encompassing aspects of business, technology, processes, corporate culture, and customer experience, requiring not only technological advancement but also strategic change. The methodology in studying the role of digital transformation combines a review of scientific literature with current practical research.

Keywords: digital transformation, business models, strategic approaches.

JEL: D81

Language of full text: Bulgarian

Pages: 336–342

DOI: https://doi.org/10.37075/ISCYS.2026.1.026

Full text: ISCYS.2026.1.026.pdf

Към съдържанието

027. WHAT ARE THE ENABLING FACTORS FOR THE APPLICATION OF AI IN EDUCATION (ONLINE LEARNING)?

Authors:

James Osondu (ORCID: 0009-0003-4730-2970) — Assistant lecturer, Department of Statistics and Econometrics / Faculty of Economics, Sofia University "St. Kliment Ohridski”

Abstract: This study is a demographic analysis and examines teachers' opinions, parents' opinions, students' opinions, of the effectiveness of online learning platforms through a comprehensive survey, focusing on aspects such as technological ease of use, technical security, flexibility, feedback, technical knowledge. Utilizing only demographic data, this part of the research explores how variables such as age, gender, years of teaching experience, and institutional type influence teachers’, parents and students’ opinions with online platforms. The analysis reveals generally positive perceptions, with high satisfaction regarding user-friendly interfaces and accessibility across devices. Nevertheless, technical support emerged as a critical area needing improvement. Furthermore, online platforms are established to enhance teaching practices, including the adoption of new methods, use of connectivity tools, and unification of multimedia resources. Despite these benefits, challenges in adapting to online teaching persist, highlighting the need for targeted support and professional development. Overall, this study provides valuable understanding into how online learning platforms impact teaching effectiveness and offers recommendations for enhancing their usability and support to better serve teachers and students and its application of AI.

Keywords: teachers' opinions, students' opinions, parents’ opinions, online learning, effective learning, academic success

JEL: D83, O33

Language of full text: English

Pages: 343–359

DOI: https://doi.org/10.37075/ISCYS.2026.1.027

Full text: ISCYS.2026.1.027.pdf

Към съдържанието

028. УЧЕЩАТА ОРГАНИЗАЦИЯ ПРЕЗ ПРИЗМАТА НА ОРГАНИЗАЦИОННАТА ГЪВКАВОСТ И ОРГАНИЗАЦИОННОТО УЧЕНЕ

English title: THE LEARNING ORGANIZATION THROUGH THE LENS OF ORGANIZATIONAL FLEXIBILITY AND ORGANIZATIONAL LEARNING

Authors:

Kiril Velitchkov — PhD, Faculty of Economics and Business Administration, Sofia University ‘St. Kliment Ohridski’, 1113 Sofia
Tsvetana Yaneva — PhD Candidate, Faculty of Economics and Business Administration, Sofia University ‘St. Kliment Ohridski’, 1113 Sofia

Abstract: A learning organization continuously improves itself by encouraging people at all levels to share knowledge, reflect on their experiences, and adapt to change. In such organizations, mistakes are viewed as learning opportunities, new ideas are welcomed, and employees are encouraged to develop their skills and understanding of work processes. The article attempts to explain a group of respondents' assessment of whether their organizations are learning through organizational learning and organizational flexibility. The effect of organizational learning is about 25% stronger than that of organizational flexibility on the learning organization score.

Keywords: Learning organization, flexibility, organizational learning

JEL: M12, D23

Language of full text: Bulgarian

Pages: 360–368

DOI: https://doi.org/10.37075/ISCYS.2026.1.028

Full text: ISCYS.2026.1.028.pdf

Към съдържанието

029. ПРИЛАГАНЕТО НА МСФО 17 В ОБЩОТО ЗАСТРАХОВАНЕ В БЪЛГАРИЯ: КОЙ МОДЕЛ ЗА ПРИЗНАВАНЕ НА ПРЕМИЙНИЯ ПРИХОД БЕ ИЗБРАН?

English title: IMPLEMENTING IFRS 17 IN BULGARIA’S GENERAL INSURANCE SECTOR: WHICH MODEL FOR INSURANCE REVENUE RECOGNITION HAS BEEN CHOSEN?

Authors:

Nigokhos Kanaryan — PhD, CPA, New Bulgarian University, Department of Economics, Sofia

Abstract: The adoption of IFRS 17 Insurance Contracts marks a fundamental change in the accounting practices of insurance companies by introducing new models for recognizing premium revenue. This study examines the transition to IFRS 17 by Bulgarian non-life insurance companies, focusing on the models applied for the recognition of premium income. The analysis is based on the 2023 financial statements of Bulgarian insurers. The results indicate that virtually all non-life insurance companies have adopted the Premium Allocation Approach (PAA). This model ensures a degree of operational continuity and conceptual proximity to the previous approach under IFRS 4, while introducing a clear distinction between the liability for remaining coverage (LRC) and the liability for incurred claims (LIC). Despite the smooth transition, there remain significant differences in the depth and structure of disclosures across companies.

Keywords: IFRS 17, general insurance, insurance premiums

JEL: G22, M41

Language of full text: Bulgarian

Pages: 369–378

DOI: https://doi.org/10.37075/ISCYS.2026.1.029

Full text: ISCYS.2026.1.029.pdf

Към съдържанието

030. СРАВНИТЕЛЕН АНАЛИЗ НА CO-GOVERNANCE МОДЕЛИ ЗА СЪВМЕСТНО УПРАВЛЕНИЕ ПРЕЗ ХХI

English title: COMPARATIVE ANALYSIS OF CO-GOVERNANCE MODELS FOR COLLABORATIVE MANAGEMENT IN THE XXI CENTURY

Authors:

Vanya Hadjieva — PhD, Department “Administration and Management”, New Bulgarian University, Sofia

Abstract: In the context of increasing global interconnectedness and the growing complexity of social processes, traditional governance models are proving insufficiently effective. This study applies a systems approach and complex organization theory to conduct a comparative analysis of innovative co-governance models. The research traces the transformation from strict hierarchical forms toward hybrid models that blur the boundaries between the public, private, and civil society sectors. Contemporary governance models must integrate institutional legitimacy, inclusive participation mechanisms, and strategic use of technology in order to transform social complexity from an obstacle into an opportunity for more effective, equitable, and sustainable public outcomes.

Keywords: co-governance, modelling, public processes, sustainability

JEL: H83, O35, P48

Language of full text: Bulgarian

Pages: 379–386

DOI: https://doi.org/10.37075/ISCYS.2026.1.030

Full text: ISCYS.2026.1.030.pdf

Към съдържанието

031. „КОЛИЧЕСТВЕНИ УЛЕСНЕНИЯ ЗА ХОРАТА“ – ПРИЛОЖИМОСТ И ЕФЕКТИ

English title: “QUANTITATIVE EASING FOR THE PEOPLE” – APPLICABILITY AND EFFECTS

Authors:

Dimitar Kostov — PhD, Department of Finance and Credit, Academy of Economics "D. A. Tsenov" - Svishtov, №2 “Em. Chakarov Street”

Abstract: The report examines several interrelated issues related to the monetary policy of central banks and in particular the ECB, both in the context of the evolution of money and monetary systems, and of conjunctural problems. The concepts of "Quantitative easing", "Helicopter money", "Unconditional basic income", are commented on, each of which is an area of overlap of economic, social and monetary policies, as well as political ideologies. An interesting concept in this sequence is the so-called "Quantitative easing for the people". It is believed that the concept was introduced into circulation by Jeremy Corbyn from the Labour Party in Great Britain in 2015. However, much earlier, even Milton Friedman expressed a positive opinion in a similar direction, speaking of a "negative tax", which, in his opinion, would reduce bureaucracy and be financed with the saved funds. This report attempts to find what is common and what is different between these concepts, and to provide theoretical and empirical evidence for their applicability.

Keywords: Monetary policy, economic growth, inequality, universal basic income, “quantitative easing for the people”

JEL: E50, G20, G28, G50, O40

Language of full text: Bulgarian

Pages: 387–396

DOI: https://doi.org/10.37075/ISCYS.2026.1.031

Full text: ISCYS.2026.1.031.pdf

Към съдържанието

032. ТРАНСФЕРИТЕ В БЮДЖЕТА НА ЕС: ДИНАМИКА И НЕТНИ ЕФЕКТИ ЗА СТРАНИТЕ-ЧЛЕНКИ

English title: TRANSFERS IN THE EU BUDGET: DYNAMICS AND NET EFFECTS FOR MEMBER STATES

Authors:

Tsvetan Pavlov — Head Assist. Prof., PhD, Department of Finance and Credit, “D. A. Tsenov” Academy of Economics, Svishtov, 2 Emanuil Chakarov Street

Abstract: Despite transparency and free access to data, there is polarization in public opinion regarding the direct financial effects of EU budget distribution. The aim of the report is to identify trends in net transfers from the EU and their effects on the economic growth of member states, measured by gross national income (GNI). The analysis covers the period 2000-2023. The results of a fixed-effects panel regression, configured with two factors: share of investment in GDP and net transfers (including their first lag), reveal a dual effect of transfers on growth. In the same year, they act countercyclically as a shock stabilizer (coefficient -3.43), and with a one-year lag, they significantly accelerate economic growth (coefficient 2.33). These results indicate that the EU budget is a successful mechanism for convergence and stimulating growth. The main conclusion from the model is that all Member States, including net donors, derive significant economic benefits from the budget, even when ignoring other positives from integration such as the Single Market. This demonstrates the universal effectiveness of European funds, with Bulgaria being among the main beneficiaries.

Keywords: EU budget, net transfers, economic growth, European integration

JEL: F15, H77, O47

Language of full text: Bulgarian

Pages: 397–407

DOI: https://doi.org/10.37075/ISCYS.2026.1.032

Full text: ISCYS.2026.1.032.pdf

Към съдържанието

033. ВРЪЗКА МЕЖДУ ИНВЕСТИЦИИ В ДИГИТАЛНИ ТЕХНОЛОГИИ И УМЕНИЯ, ОБРАЗОВАНИЕ И ПРОИЗВОДИТЕЛНОСТ НА ТРУДА

English title: NEXUS BETWEEN INVESTMENTS IN DIGITAL TECHNOLOGIES AND SKILLS, EDUCATION AND LABOUR PRODUCTIVITY

Authors:

Maya Tsoklinova — chief assistant, PhD, University of National and World Economy, 1700 Sofia, Student District, No.19 December 8th str

Abstract: The main objective of the report is to conduct a literature review of the available publications related to the impact of investments in digital technologies and skills, and the educational level of the population on labour productivity. In the context of digital transformation and rapid development of technologies, there is a need to study the impact of the above-mentioned factors on generating growth and increasing the efficiency of the labour market. The chosen topic is relevant in terms of the increasing importance attached to the acquisition of professional skills related to the application of software for processing large databases, possession of digital communication skills, use of AI in various activities of the labour process and adaptability to changes in the workplace as a result of Industry 5.0. In this regard, the emphasis is placed on an analysis of the existing literature related to the study of the synergy between digital technologies and skills, and the education of the population on labour productivity. The utility of such research lies in the systematization of factors related to the manifestation of Industry 5.0 on the dynamics of labour productivity and the possibility in future studies to examine the relationship between them and the economic growth generated through the functioning of efficient factor markets.

Keywords: investment in technology, digital skills, education, labour productivity.

JEL: E24, C51

Language of full text: Bulgarian

Pages: 408–419

DOI: https://doi.org/10.37075/ISCYS.2026.1.033

Full text: ISCYS.2026.1.033.pdf

Към съдържанието

034. РОЛЯ НА АНАЛИТИЧНИТЕ ИНСТРУМЕНТИ ПРИ ОЦЕНКАТА НА ДИГИТАЛНИ СТРАТЕГИИ И ПОЛИТИКИ НА ОБРАЗОВАТЕЛНИ ПРОДУКТИ

English title: ROLE OF ANALYTICAL TOOLS IN THE EVALUATION OF DIGITAL STRATEGIES AND POLICIES OF EDUCATIONAL PRODUCTS

Authors:

Daniela Tsvetkova — UNWE, Department of Entrepreneurship, Business Faculty
Pavleta Vankova — UNWE, Department of Intellectual Property and Technology Transfer, Business Faculty

Abstract: In the context of accelerated digital transformation of higher education and online learning, analytical tools are establishing themselves as a key resource for strategic management and assessment of the effectiveness of educational products. The purpose of the report is to explore the role and importance of leading analytical solutions for assessing and optimizing digital strategies implemented by universities and educational organizations. The object of analysis are the Google Analytics 4, Meta Business Manager and Hotjar tools, as well as Learning Analytics practices, through which indicators of the effectiveness of digital marketing, student behavior and satisfaction, as well as the return on investment in digital campaigns are tracked. The methodological approach includes a systematic review of the literature, a comparative analysis of the capabilities of the selected platforms and an assessment of their application in a university context. The results show that the integration of analytical tools in digital strategies contributes to increasing the visibility of educational products, more precise targeting of audiences and the development of personalized approaches to learners.

Keywords: Learning Analytics, digital transformation, analytical tools, Google Analytics 4, Meta Business Manager, Hotjar, educational products, digital strategies.

JEL: I23, I28, L86, C55, M31

Language of full text: Bulgarian

Pages: 420–432

DOI: https://doi.org/10.37075/ISCYS.2026.1.034

Full text: ISCYS.2026.1.034.pdf

Към съдържанието

035. ВЗАИМОДЕЙСТВИЕ НА ВЪРХОВНИТЕ ОДИТНИ ИНСТИТУЦИИ В ЕС

English title: INTERACTION BETWEEN SUPREME AUDIT INSTITUTIONS IN EU

Authors:

Toma Donchev — PhD, Department “Financial Control”, UNWE, Sofia

Abstract: Two leading mechanisms for cooperation have been established – EUROSAI and the European Court of Auditors. Their activities are planned and carried out in accordance with the interests of national SAIs and considering the interests of stakeholders. There is no convincing evidence to what extent this cooperation improves the activities and impact of SAIs.

Keywords: Supreme audit institutions, EUROSAI

JEL: H83

Language of full text: Bulgarian

Pages: 433–441

DOI: https://doi.org/10.37075/ISCYS.2026.1.035

Full text: ISCYS.2026.1.035.pdf

Към съдържанието

036. FRAUD TRENDS IN 2025 AFFECTING FINANCIAL INSTITUTIONS AND THEIR IMPACT ON CONTROL

Authors:

Iavor Bachev — PhD, CIA, CISA, CFE, UNWE, Department of Financial Control, Finance and Accounting Faculty, Sofia

Abstract: In 2025, financial institutions are operating in an increasingly complex fraud landscape shaped by technological innovation, regulatory scrutiny, intervention and evolving criminal behavior. Emerging trends such as synthetic identity fraud and AI-driven deception, cyber-enabled scams, and are redefining both the scale and the sophistication of financial crime. While traditional fraud typologies—such as internal embezzlement, bribery, and asset misappropriation—remain persistent, their digital transformation has accelerated the need of the update of the conventional control mechanisms.This paper explores the fraud developments and control suggestions impacting financial institutions in 2025 It also outlines some of the intervention made by regulators in order to protect the customers such as the one in Singapore.

Keywords: fraud, AI, regulation

JEL: M40, M49

Language of full text: English

Pages: 442–446

DOI: https://doi.org/10.37075/ISCYS.2026.1.036

Full text: ISCYS.2026.1.036.pdf

Към съдържанието

037. MiCA AND THE NEW ORDER OF CRYPTO MARKETS: BALANCE BETWEEN INNOVATION AND PROTECTION

Authors:

Kremena Choutilova-Yochkolovska — PhD, Department of Finance, Finance and Accounting Faculty, University of National and World Economy, Sofia, Bulgaria
Natalia Petrova — PhD, CEO of Concord Asset Management, 117 Todor Alexandrov Blvd., 1303 Sofia, Bulgaria, Web: www.concord-am.bg

Abstract: Over the past decade, digital assets and crypto markets have gained increasing importance, developing largely in an environment of regulatory freedom. This financial phenomenon has been accompanied by the emergence of new risks, both for consumers and for the stability of the financial system as a whole. In this context, the European Union has moved towards the establishment of a unified regulatory framework aimed at ensuring legal certainty, predictability, and transparency for participants in the crypto ecosystem and all relevant stakeholders. The present report focuses on the Regulation on Markets in Crypto-Assets (MiCA), which represents a core element of the emerging regulatory order governing crypto markets. The analysis traces the underlying rationale of MiCA, examining the need to distinguish crypto-assets into separate categories based on their functionality and risk profile. Particular attention is also devoted to the role of crypto-asset service providers, identified as a central component of the normative framework governing crypto markets. The regulatory philosophy of MiCA is grounded in a preventive approach and in the understanding that an appropriate balance must be achieved between fostering innovation and ensuring effective consumer protection.

Keywords: Crypto-assets; MiCA Regulation; Crypto-asset Service Providers (CASPs); Consumer Protection; Financial Stability; Market Risk

JEL: G28, G23

Language of full text: English

Pages: 447–457

DOI: https://doi.org/10.37075/ISCYS.2026.1.037

Full text: ISCYS.2026.1.037.pdf

Към съдържанието

038. БЪЛГАРИЯ В ЕВРОЗОНАТА – ДЕФИЦИТИ В ДЕБАТА

English title: BULGARIA IN THE EUROZONE — DEFICITS IN THE DEBATE

Authors:

Rossitsa Toncheva — PhD, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: This article examines the methodological deficiencies in the public debate concerning Bulgaria's accession to the Eurozone on 1 January 2026. The analysis does not contest the decision on its merits; rather, it critiques the manner in which the decision is being discussed — primarily through aggregate averages, a conflation of desired outcomes with feasible ones, and a disregard for the distributional consequences across distinct social groups. The central argument is that every strategic decision made by representative authority must be accompanied by a clear recapitulation of the desired and undesired consequences for each specific stakeholder group. Drawing on game theory (cooperative versus non-cooperative games and the zero-sum premise), systems theory (stability is determined by the weakest element), and historical precedents (fiscal instruments in Italy, complementary currency systems in Western Europe), the paper proposes a three-tier methodological framework: classification of economic agents, identification of their respective interests, and impact assessment for each group individually. The paper contends that the debate operates with antinomies — logical constructs in which both opposing positions are equally defensible — and that a resolution can therefore not be found within the debate itself. The conclusion is that the debate as currently conducted is methodologically flawed and requires a comprehensive rethinking of public governance with respect to the ethical dimensions which has not to presuppose a total segregation of society, and with respect to the strength of analytical argumentation.

Keywords: Bulgaria, Eurozone, Stakeholders, Debate, Deficits in the Debate

JEL: E42, F33, D63, C70, P16

Language of full text: Bulgarian

Pages: 458–471

DOI: https://doi.org/10.37075/ISCYS.2026.1.038

Full text: ISCYS.2026.1.038.pdf

Към съдържанието

039. EXCHANGE-RATE REGIME SHIFTS AND PUBLIC DEBT – OPPORTUNITIES AND PERSPECTIVES

Authors:

Darina Koleva — PhD, Department of Finance, UNWE, Sofia, „8 th of December” Str. № 19

Abstract: Over the last 35 years, Bulgaria has undergone several transformations in its exchange-rate regime. The transition to a market economy began on an unstable footing, burdened by severely weakened economy and a substantial inherited public debt. Although the capacity to manage public debt has improved over time, the pace of adjustment, the timeliness of the measures taken, and the consistency of fiscal policy determine whether the opportunities created by a change in the exchange-rate regime may be effectively exploited. The paper analyzes two consecutive exchange-rate regime shifts – from a managed float to a currency board, and subsequently to a common currency union - and their implications for public debt management.

Keywords: public debt, currency board, monetary union

JEL: H63, E42, F45

Language of full text: English

Pages: 472–479

DOI: https://doi.org/10.37075/ISCYS.2026.1.039

Full text: ISCYS.2026.1.039.pdf

Към съдържанието

040. ANALYSIS OF KEY FINANCIAL INDICATORS OF SOCIAL ENTERPRISES IN BULGARIA IN THE PERIOD 2017-2022

Authors:

Aglika Kaneva — Chief Assistant Professor, PhD, Department of Finance, University of National and World Economy, 1700 Sofia, Student District, No.19 December 8th str

Abstract: This publication is devoted to the financial performance of social enterprises in Bulgaria. Key financial indicators and for social enterprises in general, as well as for enterprises in “Human health and social work activities”, “Manufacturing” and “Accommodation and food service activities” sectors have been examined. A comparative analysis by economic sector has been made of the financial indicators of social enterprises.

Keywords: social enterprises, financial indicators.

JEL: G30

Language of full text: English

Pages: 480–487

DOI: https://doi.org/10.37075/ISCYS.2026.1.040

Full text: ISCYS.2026.1.040.pdf

Към съдържанието

041. ВЛИЯНИЕ НА ДЪРЖАВНИЯ ДЪЛГ ВЪРХУ ИНФЛАЦИЯТА В БЪЛГАРИЯ: КОИНТЕГРАЦИОНЕН АНАЛИЗ

English title: GOVERNMENT DEBT IMPACT ON INFLATION IN BULGARIA: COINTEGRATION ANALYSIS

Authors:

Milena Kovachevich — PhD, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: The growth of government debt in Bulgaria has been the focus of public debate in recent years, as the country continues to report some of the lowest levels of public debt in the European Union and well below the 60% of GDP threshold. At the same time, the question is raised about the benefits, the effect on the economy of the new loans taken out - whether this stimulates economic growth or leads to inflation.

Keywords: inflation, government debt, cointegration analysis

JEL: E31, F34, C10

Language of full text: Bulgarian

Pages: 488–494

DOI: https://doi.org/10.37075/ISCYS.2026.1.041

Full text: ISCYS.2026.1.041.pdf

Към съдържанието

042. ФУНДАМЕНТАЛЕН АНАЛИЗ НА КРИПТОВАЛУТИ

English title: FUNDAMENTAL ANALYSIS OF CRYPTOCURRENCIES

Authors:

Ivan Kostov — PhD, Department of Finance, University of National and World Economy (UNWE), 1700 Sofia, Student District, No.19 December 8th str

Abstract: This report examines the possibilities of applying the fundamental analysis tools in cryptocurrency trading and investing. Specifically, the report focuses on the main aspects of this type of analysis with their components, quantitative and qualitative metrics.

Keywords: Fundamental analysis, cryptocurrencies, blockchain, tokenomics.

JEL: G10

Language of full text: Bulgarian

Pages: 495–503

DOI: https://doi.org/10.37075/ISCYS.2026.1.042

Full text: ISCYS.2026.1.042.pdf

Към съдържанието

043. ТЪРГОВСКИ КРЕДИТ И ТЕЖЕСТ НА ДЪЛГА ПРИ ПУБЛИЧНО ТЪРГУВАНИТЕ ПРЕДПРИЯТИЯ

English title: TRADE CREDIT AND DEBT BURDEN IN PUBLICLY TRADED COMPANIES

Authors:

Galya Taseva — University of National and World Economy (UNWE) and Economic Research Institute at the Bulgarian Academy of Sciences

Abstract: The aim of the article is to examine the relationship between trade credit and the debt burden of publicly traded companies in Bulgaria during the period 2018-2024. The analyzed period covers the time before the crisis caused by the coronavirus, the pandemic and the recovery period after it. The results of the study show that companies that are net debtors of trade credit are more indebted and experience a greater debt service burden regardless of economic conditions.

Keywords: trade credit, indebtedness, debt burden

JEL: G32, G39

Language of full text: Bulgarian

Pages: 504–514

DOI: https://doi.org/10.37075/ISCYS.2026.1.043

Full text: ISCYS.2026.1.043.pdf

Към съдържанието

044. 20 YEARS SINCE THE SIGNING OF THE TREATY ON THE EU ACCESSION OF BULGARIA AND 80 YEARS SINCE THE ESTABLISHMENT OF THE UN: IMPLICATIONS FOR EXPORT

Authors:

Margarita Ivanova — Chief Assist. PhD, Department: International Economic Relations and Business, Faculty of International Economics and Politics, UNWE

Abstract: The accession of a new member state to a regional economic organization raises the question, whether and how this could change its export in the context of the dynamics on the international level, which have been abundant during the past eight decades of the United Nations (UN). On the background of the two anniversaries and the development of multilateralism, it is interesting to review the Bulgarian export to countries outside the European Union (EU). This publication is devoted to the topic and reviews data for the past twenty years since the signing of the Accession treaty. It explores the dynamics in two categories. The results are based on two types of comparisons and highlight variations. The paper can be thought-provoking for young economists, interested in the field of multilateralism, international trade or the accession to regional economic organizations.

Keywords: Export, Bulgaria, European Union

JEL: F, M

Language of full text: English

Pages: 515–523

DOI: https://doi.org/10.37075/ISCYS.2026.1.044

Full text: ISCYS.2026.1.044.pdf

Към съдържанието

045. МЕТОДИ ЗА ОПРЕДЕЛЯНЕ НА ВЪТРЕШНОПРИСЪЩАТА СТОЙНОСТ НА КРИПТОАКТИВИ

English title: METHODS FOR DETERMINING THE INTRINSIC VALUE OF CRYPTOASSETS

Authors:

Иван Костов — Катедра „Финанси“, Университет за национално и световно стопанство ( УНСС ), София 1700, Район „Студентски“, ул. „ 8-ми декември“, No.19

Abstract: A significant part of the investment community still accepts the so-called cryptocurrencies as purely speculative financial instruments, the price of which has no foundation whatsoever. In this regard, the movements in their prices are mainly explained by the sentiments of market participants and the general macro environment. This report attempts to present the possibilities for applying fundamental approaches to determine the real value of these instruments.

Keywords: Cryptoassets, intrinsic value.

JEL: G10

Language of full text: Bulgarian

Pages: 524–533

DOI: https://doi.org/10.37075/ISCYS.2026.1.045

Full text: ISCYS.2026.1.045.pdf

Към съдържанието

046. ФУНКЦИОНАЛНА СТРУКТУРА НА РАЗХОДИТЕ НА ПУБЛИЧНИЯ СЕКТОР В БЪЛГАРИЯ: ПРИОРИТЕТИ И ТЕНДЕНЦИИ

English title: FUNCTIONAL STRUCTURE OF PUBLIC SECTOR EXPENDITURE IN BULGARIA: PRIORITIES AND TRENDS

Authors:

Angel Angelov — PhD, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy, Sofia, Bulgaria

Abstract: The purpose of this study is to analyze the functional structure of public expenditure in Bulgaria. It examines the dynamics of these expenditures and their relationship with the growth of the national economy. The study identifies key priority areas toward which the Bulgarian government allocates public resources. The structure and evolution of public expenditure are compared with the trends observed in the European Union (EU-27). The analysis covers the period from 1998 to 2023, and includes medium-term forecasts for the future development of public sector expenditure up to 2028. A cluster analysis is also conducted, highlighting the similarities in the functional structure of most Central and Eastern European countries, including Bulgaria.

Keywords: government expenditure, GOFOG, Bulgaria, structure, growth

JEL: H11, H41, H50

Language of full text: Bulgarian

Pages: 534–551

DOI: https://doi.org/10.37075/ISCYS.2026.1.046

Full text: ISCYS.2026.1.046.pdf

Към съдържанието

047. ЕФЕКТИ ОТ ПРИСЪЕДИНЯВАНЕТО КЪМ ЕВРОЗОНАТА ВЪРХУ СОЦИАЛНО-ОСИГУРИТЕЛНАТА СИСТЕМА

English title: EFFECTS OF JOINING THE EURO AREA ON THE SOCIAL SECURITY SYSTEM

Authors:

Darina Koleva — PhD, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: The study is an attempt to reveal the seemingly missing link between the process of Bulgaria's accession to the euro area and the social security system’s stability and sustainability. The potential benefits and risks, as well as the conditionalities for their realization, are outlined and discussed in detail.

Keywords: euro area, social security system

JEL: F45, H55

Language of full text: Bulgarian

Pages: 552–560

DOI: https://doi.org/10.37075/ISCYS.2026.1.047

Full text: ISCYS.2026.1.047.pdf

Към съдържанието

048. ПЪРВИ БЮДЖЕТ В ЕВРО ЗА БЪЛГАРИЯ: ФИСКАЛНА КОНСОЛИДАЦИЯ ИЛИ ЕКСПАНЗИЯ?

English title: FIRST BUDJET IN EURO FOR BULGARIA: FISCAL CONSOLIDATION OR EXPANSION?

Authors:

Diyana Metalova — Chief Assistant, Finance Department, University of National and World Economy (UNWE), Sofia

Abstract: This study examines whether the draft budget of the Republic of Bulgaria for 2026, released for public consultation, envisions fiscal consolidation or fiscal expansion. The 2026 budget will be Bulgaria’s first to be prepared in euros. As a member of the eurozone, Bulgaria must continue to comply with the Maastricht criteria, several of which relate directly to fiscal policy. The requirement to maintain a budget deficit below 3% of GDP remains the government’s most significant challenge. Once again, the budget is being formulated amid political instability and worsening public finances. The evidence suggests that the 2026 budget will necessitate politically unpopular measures, including spending cuts or tax increases.

Keywords: Fiscal Policy, Budget, Fiscal Expansion, Fiscal Consolidation, Budget Deficit

JEL: E62, H62

Language of full text: Bulgarian

Pages: 561–569

DOI: https://doi.org/10.37075/ISCYS.2026.1.048

Full text: ISCYS.2026.1.048.pdf

Към съдържанието

049. ДЪРЖАВЕН ДЪЛГ И ИКОНОМИЧЕСКИ РАСТЕЖ В БЪЛГАРИЯ – ИМА ЛИ ДЪЛГОСРОЧНА ВРЪЗКА?

English title: GOVERNMENT DEBT AND ECONOMIC GROWTH IN BULGARIA – IS THERE A LONG-TERM RELATIONSHIP?

Authors:

Milena Kovachevich — PhD, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: By applying cointegration analysis, the study reveals whether there is a long-term relationship between government debt and economic growth in Bulgaria in the context of the debate whether the increase in government debt leads to growth or to inflation in the country.

Keywords: government debt, economic growth, cointegration analysis

JEL: F34, F43, C10

Language of full text: Bulgarian

Pages: 570–575

DOI: https://doi.org/10.37075/ISCYS.2026.1.049

Full text: ISCYS.2026.1.049.pdf

Към съдържанието

050. ИНТЕГРАЦИЯ НА КРЪГОВАТА ИКОНОМИКА В БЪЛГАРСКИЯ БИЗНЕС – ПРЕДИЗВИКАТЕЛСТВА И ВЪЗМОЖНОСТИ

English title: INTEGRATION OF THE CIRCULAR ECONOMY IN BULGARIAN BUSINESS – CHALLENGES AND OPPORTUNITIES

Authors:

Mina Markova-Karpuzova — Department of Economics, New Bulgarian University, Sofia

Abstract: This study examines the integration of circular economy principles into Bulgarian business, with a focus on the key challenges and opportunities associated with implementing this model. The relevance of the topic stems from the need to address a range of economic and environmental issues related to the efficient use of resources, the depletion of critical raw materials, and excessive pollution resulting from the established linear economic model – “take, make, dispose.” The aim of the study is to investigate Bulgarian enterprises that have adopted circular economy principles and to analyze the challenges and opportunities they face in the country. The research combines a theoretical analysis with an empirical approach, based on an in-depth study of alternative business models in this field within the European Union conducted during the period 2019–2024. The results show that an increasing number of companies in Bulgaria recognize the potential of the circular economy to enhance competitiveness and strengthen corporate reputation, while simultaneously facing a range of challenges that hinder its effective implementation.

Keywords: Circular economy; sustainable development; alternative business models

JEL: Q01, Q57

Language of full text: Bulgarian

Pages: 576–586

DOI: https://doi.org/10.37075/ISCYS.2026.1.050

Full text: ISCYS.2026.1.050.pdf

Към съдържанието

051. ЕФЕКТИ НА ЦЕНОВАТА ДИНАМИКА НА ЗЛАТОТО ВЪРХУ БАЛАНСОВИТЕ ПОЗИЦИИ НА ЦЕНТРАЛНИТЕ БАНКИ

English title: EFFECTS OF GOLD PRICE DYNAMICS ON CENTRAL BANK BALANCE SHEET POSITIONS

Authors:

Raya Dragoeva — PhD, D. A. Tsenov Academy of Economics, Svishtov, 2 Em. Chakarov Str. Bulgaria

Abstract: The price growth of investment gold in 2025 is a major factor in positive changes in the balance sheet positions of central banks. With net purchase policies, a number of central banks are multiplying this effect. On this basis, the balance sheet positions of central banks are determined as the object of research, and the subject is their gold reserves in the period 2020-2025. The purpose of the report is to establish the direct effect on the balance sheet positions of the Bulgarian National Bank, as a result of the price revaluation of available gold reserves and the net purchase policy, including in connection with the country's admission to the Eurozone, supported by identical policies by other central banks.

Keywords: centrals banks, balance sheet positions, gold reserves

JEL: G21

Language of full text: Bulgarian

Pages: 587–596

DOI: https://doi.org/10.37075/ISCYS.2026.1.051

Full text: ISCYS.2026.1.051.pdf

Към съдържанието

052. АНАЛИЗ НА УДОВЛЕТВОРЕНОСТТА НА СТУДЕНТИТЕ ОТ ПРОЦЕСА НА ПРЕПОДАВАНЕ

English title: ANALYSIS OF STUDENT SATISFACTION WITH THE TEACHING PROCESS

Authors:

Svetla Atanasova — PhD, Department of Marketing, Burgas State University "Prof. Dr. Asen Zlatarov", Burgas, Faculty of Social Sciences, office 212, Slaveykov complex, Burgas, 8010
Hristina Mihaleva — Department of Marketing, Burgas State University "Prof. Dr. Asen Zlatarov", Burgas, Faculty of Social Sciences, office 212, Slaveykov complex, Burgas, 8010
Hristo Georgiev — PhD, Department of Marketing, Burgas State University "Prof. Dr. Asen Zlatarov", Burgas, Faculty of Social Sciences, office 212, Slaveykov complex, Burgas, 8010
Alexander Angelov — PhD, Department of Marketing, Burgas State University "Prof. Dr. Asen Zlatarov", Burgas, Faculty of Social Sciences, office 212, Slaveykov complex, Burgas, 8010

Abstract: In the curriculum of the Marketing major, legal sciences introduce students to that part of the law, which is a system of norms that regulate the legal status of traders and the relationships they enter into in the process of carrying out their main activity. This places this type of science as one of the mandatory ones for study by students of the Marketing major at the Bulgarian State University "Prof. Dr. Asen Zlatarov". Within the limits of this direction, the main goal of this study is associated with the construction of a theoretical framework for the essence of legal sciences and their importance for marketing and, on the basis of this, to carry out an empirical study of the satisfaction of students of the Marketing major with the material provided in lectures and exercises. The empirical study was conducted during the period September 2024 - May 2025 using surveys distributed via the Google Forms system. The comparative analysis shows the diversity of students' opinions regarding the quality and methods of providing the mandatory material in the discipline under consideration.

Keywords: analysis, student satisfaction, law, Marketing major

JEL: М30, М31

Language of full text: Bulgarian

Pages: 597–607

DOI: https://doi.org/10.37075/ISCYS.2026.1.052

Full text: ISCYS.2026.1.052.pdf

Към съдържанието

053. МЕНИДЖМЪНТ ПРАКТИКИ В БЪЛГАРСКИТЕ СТАРТИРАЩИ КОМПАНИИ: ПЪТЯТ ОТ ИДЕЯ ДО УСТОЙЧИВ БИЗНЕС

English title: MANAGEMENT PRACTICES IN BULGARIAN STARTUP COMPANIES: THE JOURNEY FROM IDEA TO SUSTAINABLE BUSINESS

Authors:

Daniela Stoyanova — PhD, Burgas State University "Prof. Dr. Asen Zlatarov“

Abstract: The present study examines management practices in Bulgarian startup companies and their role in the process of transforming an innovative idea into a sustainable and competitive business. Startups are a key driver for the country's economic development, technological progress, and job creation. Within the scope of the research, the main stages of startup development are analysed – from generating a business idea, through team formation and securing funding, to market entry and scaling operations. Special attention is given to management approaches, entrepreneurial thinking, and the role of leadership in the dynamic startup environment. Additionally, the challenges faced by Bulgarian startups are discussed. The conclusions emphasize the importance of flexible management, adaptability, and an innovative approach as key factors for turning startups into sustainable businesses with long-term growth potential.

Keywords: startup companies; business ideas; management approaches; entrepreneurship.

JEL: О1

Language of full text: Bulgarian

Pages: 608–620

DOI: https://doi.org/10.37075/ISCYS.2026.1.053

Full text: ISCYS.2026.1.053.pdf

Към съдържанието

054. ЕДИННО УПРАВЛЕНИЕ НА ЕВРОПЕЙСКОТО ВЪЗДУШНО ПРОСТРАНСТВО – ПРЕДИЗВИКАТЕЛСТВА ПРЕД ЕС И БЪЛГАРИЯ

English title: MANAGEMENT OF EUROPEAN AIRSPACE – CHALLENGES FOR THE EU AND BULGARIA

Authors:

Bianka Tosheva-Pesheva — PhD, Department of International Relations, Faculty of International Economics and Politics, UNWE, Sofia

Abstract: At the beginning of the 21st century, in its efforts to deepen economic and political integration, the European Union launched a series of legislative initiatives aimed at establishing enhanced joint management of the airspace. The initiative, known as the Single European Sky, has for more than twenty years sought to improve the functioning of air traffic management (ATM) and air navigation services (ANS). This, in turn, is intended to contribute to optimizing airspace capacity, drastically reducing ATM costs, increasing safety, and decreasing the environmental impact of aviation by 10%. Behind these ideal goals, however, stand the national interests of 29 different states, for which these processes are slow and depend on political will for balancing between the protection of autonomy, power, and security, and their role in international relations, whether as advocates of interdependence or as guardians of sovereignty, strength, and influence. The study presented in this report aims to identify the possibilities for EU member states to adopt a shared perspective on European airspace and to assess Bulgaria’s contribution to this process. The topic is examined in the context of growing trends toward reinforcing perceptions of state sovereignty, tightening borders, and a rising spirit of distrust among nations. Although the member states have achieved undeniable success in cooperation over recent decades, they remain vulnerable to negative influences when faced with the first signs of problems requiring unified solutions, stronger coordination, and rapid response. It has been noted that the dynamics of globalization-linked to the compression of time and space-apply both to individual entities, in the face of citizens, and to the states and supranational organizations to which they belong. Achieving unified airspace management within the EU and a political symbiosis among its member states thus emerges as one of the major and significant challenges, especially in the context of ongoing military conflicts on the continent.

Keywords: European union, Single European Sky, sovereignty, international relations

JEL: F50

Language of full text: Bulgarian

Pages: 621–629

DOI: https://doi.org/10.37075/ISCYS.2026.1.054

Full text: ISCYS.2026.1.054.pdf

Към съдържанието

055. ТЕНДЕНЦИИ И ПЕРСПЕКТИВИ НА ЕВРОПЕЙСКИТЕ ФОНДОВИ ПАЗАРИ ЗА ПЕРИОДА 2005-2025 Г.

English title: TRENDS AND PROSPECTS OF THE EUROPEAN STOCK MARKETS FOR THE PERIOD 2005-2025

Authors:

Ivaylo Taskov — PhD, Department of Finance, University of National and World Economy (UNWE), 1700 Sofia, Student District, No.19 December 8th str

Abstract: The report analyzes the trends in the stock markets of the 27 countries over a period of 21 years, from 2005 to 2025, based on their main stock market indices. Two types of return of the main stock market indexes were being analyzed in the report - holding period return (HPR) and capitalized annual growth return (CAGR). The values of the returns are calculated for each of the 5 sub-periods, as well as for the entire periods. The findings of the study highlight a trend of positive returns in 4 of the 5 considered sub-periods and for the entire period 2005-2025.

Keywords: Stock markets, market indexes, market return.

JEL: G10, G15

Language of full text: Bulgarian

Pages: 630–639

DOI: https://doi.org/10.37075/ISCYS.2026.1.055

Full text: ISCYS.2026.1.055.pdf

Към съдържанието

056. КАК СЕ ИЗМЕРВА ДОБРОТО? МОДЕЛИ ЗА ОЦЕНКА НА СОЦИАЛНОТО ВЪЗДЕЙСТВИЕ

English title: HOW TO MEASURE GOODNESS? FRAMEWORKS FOR SOCIAL IMPACT EVALUATION

Authors:

Mina Kostova — assistant professor and PhD student at New Bulgarian University, Sofia

Abstract: The article explores the possibilities of measuring social impact without losing the moral essence of “goodness.” It presents a comparative analysis of leading models and their limitations, along with a systematized assessment of key methodological challenges. The analysis demonstrates that measuring social impact is not merely a technical task but an ethical one, requiring an integrative approach — a balance between data and meaning, accountability and humanity.

Keywords: social entrepreneurship, social impact, impact assessment, social value, SROI.

JEL: M14, L31, O35, Q01

Language of full text: Bulgarian

Pages: 640–648

DOI: https://doi.org/10.37075/ISCYS.2026.1.056

Full text: ISCYS.2026.1.056.pdf

Към съдържанието

057. СПЕЦИАЛИЗИРАНИТЕ ПАЗАРИ ЗА МАЛКИ И СРЕДНИ ПРЕДПРИЯТИЯ НА ЕВРОПЕЙСКИТЕ ФОНДОВИ БОРСИ – ОСНОВНИ ТЕНДЕНЦИИ И ПРЕДИЗВИКАТЕЛСТВА

English title: SPECIALIZED SMALL AND MEDIUM-SIZED ENTERPRISES MARKETS ON THE EUROPEAN STOCK EXCHANGES – MAIN TENDENCIES AND CHALLENGES

Authors:

Snezhana Yotinska — Chief expert at Bulgarian Stock Exchange, Sofia

Abstract: The creation of specialized markets for small and medium-sized enterprises (SMEs) on the traditional stock exchanges in Europe is related to providing small and medium-sized businesses with the opportunity to raise capital with lower regulatory requirements and reduced administrative burden, compared to companies traded on the regulated market of the stock exchanges. This report presents the main trends and challenges facing the specialized SME markets on some European stock exchanges in the period 2021-2024. For this purpose, key indicators have been analyzed, through which the size of specialized markets has been compared to that of regulated market of the stock exchange in the respective country.

Keywords: capital market, SME specialized markets, stock exchanges

JEL: G10, G23

Language of full text: Bulgarian

Pages: 649–657

DOI: https://doi.org/10.37075/ISCYS.2026.1.057

Full text: ISCYS.2026.1.057.pdf

Към съдържанието

058. КАКВО ЩЕ СЕ СЛУЧИ С МЕЖДУНАРОДНИТЕ ВАЛУТНИ РЕЗЕРВИ НА БНБ СЛЕД ПРИЕМАНЕТО НА ЕВРОТО В БЪЛГАРИЯ?

English title: WHAT WILL BECOME OF THE INTERNATIONAL FOREIGN CURENCY RESERVES OF THE BULGARIAN NATIONAL BANK FOLLOWING BULGARIA’S ADOPTION OF THE EURO?

Authors:

Elena Panayotova — Ph.D., Experian Bulgaria, 86 Tsarigradsko shose

Abstract: One of the questions that has attracted considerable public attention concerns the future of the BNB’s international foreign exchange reserves following the adoption of the euro. A commonly cited risk is that these reserves might be released into the economy, which could, on the one hand, lead to an expansion of the money supply and higher inflation, and, on the other hand, be used to finance government policies. These concerns, however, are unfounded. Upon accession to the euro area, the BNB is required to transfer part of its foreign exchange reserves to the ECB. The remaining reserves will continue to be held by the BNB, and their management will be conducted within the framework established by the ECB, which does not permit their use for financing government expenditures.

Keywords: eurozone, international foreign exchange reserves, monetary policy, minimum reserve requirements

JEL: E58, G21

Language of full text: Bulgarian

Pages: 658–665

DOI: https://doi.org/10.37075/ISCYS.2026.1.058

Full text: ISCYS.2026.1.058.pdf

Към съдържанието

059. СЧЕТОВОДНИ АСПЕКТИ НА ВЪВЕЖДАНЕТО НА ЕВРОТО В БЪЛГАРИЯ

English title: ACCOUNTING IMPLICATIONS OF BULGARIA’S ADOPTION OF THE EURO

Authors:

Kiril Bashikarov — Ph.D., UZF University – Sofia

Abstract: The adoption of the euro as the official currency requires certain changes in Bulgarian accounting legislation. The report examines the most important rules and steps that companies must follow. The applicable requirements of the Accounting Act and international accounting standards are presented.

Keywords: Euro Adoption, Financial statements, Accounting standards

JEL: M41

Language of full text: Bulgarian

Pages: 666–674

DOI: https://doi.org/10.37075/ISCYS.2026.1.059

Full text: ISCYS.2026.1.059.pdf

Към съдържанието

060. ПРОБЛЕМИ НА АНАЛИЗА НА ПРОИЗВОДИТЕЛНОСТТА НА ТРУДА В УСЛОВИЯТА НА ПРЕХОД КЪМ ЕВРОЗОНАТА В БЪЛГАРИЯ

English title: PROBLEMS OF LABOR PRODUCTIVITY ANALYSIS IN THE CONTEXT OF TRANSITION TO THE EUROZONE IN BULGARIA

Authors:

Petko Ganchev — Doctor of Economics, Department “Accounting and Analysis”, UNWE - Sofia

Abstract: The scientific report will make a complex analysis between labor productivity (labor efficiency) and income efficiency in the enterprise in Bulgaria. Six main indicators are presented, on which production depends. The need for this analysis is always on the agenda, the topic is relevant with the transition to the eurozone and the improvement of income as a result of labor productivity. To carry out an analysis, it is necessary to reveal the deviations from the business plan of the base and actual period. The transition to the eurozone is a significant change in the efficiency of income and consequently, in the productivity of labor. We will examine some aspects of income efficiency.

Keywords: labor, efficiency, productivity, analysis, income, euro, eurozone.

JEL: J24, E50

Language of full text: Bulgarian

Pages: 675–684

DOI: https://doi.org/10.37075/ISCYS.2026.1.060

Full text: ISCYS.2026.1.060.pdf

Към съдържанието

061. РОЛЯТА НА ФАСИЛИТИ МЕНИДЖМЪНТА В ОБЕЗПЕЧАВАНЕТО НА УЧЕБНИЯ ПРОЦЕС НА ВОЕННИ ЛЕКАРИ И МЕДИЦИНСКИ СЕСТРИ, ПО ПРИМЕРА НА ВОЕННОМЕДИЦИНСКА АКАДЕМИЯ – СОФИЯ

English title: THE ROLE OF FACILITY MANAGEMENT IN ENSURING THE EDUCATIONAL PROCESS OF MILITARY DOCTORS AND NURSES, ON EXAMPLE OF THE MILITARY MEDICAL ACADEMY – SOFIA

Authors:

Anton Pramatarov — PhD, Head of the Publishing and Library Sector in the Educational and Research Service, Military Medical Academy (MMA), Sofia
Silvia Trifonova — PhD, Department of Finance, Finance and Accounting Faculty, University of National and World Economy (UNWE), Sofia
Biliana Girova — PhD student, Medical University – Sofia
Lilia Ilieva — student, Bachelor degree, Medical University – Sofia

Abstract: The present study aims to analyze the role and capabilities of facility management in the Military Medical Academy – Sofia, and its impact on the quality of education of students studying in the specialties “Military Doctor” and “Military Nurse”. This education is being implemented for the first time in Bulgaria jointly by the Military Medical Academy – Sofia, the Higher Naval School “Nikola Y. Vaptsarov” and the Medical University “Prof. Dr. Paraskev Stoyanov” – Varna. The paper first presents the main characteristics and advantages of the education of military doctors and nurses in Bulgaria, secondly identifies the necessary skills of military medics, and thirdly outlines the role of facility management in ensuring the educational process of military medics following the example of the Military Medical Academy – Sofia.

Keywords: Facility management, Educational process, Military doctors, Military nurses, Military Medical Academy – Sofia

JEL: I18, I23

Language of full text: Bulgarian

Pages: 685–705

DOI: https://doi.org/10.37075/ISCYS.2026.1.061

Full text: ISCYS.2026.1.061.pdf

Към съдържанието

062. 20 ГОДИНИ ИНВЕСТИЦИИ НА ЕС ВЪВ ВИК ИНФРАСТРУКТУРА. ВЪЗМОЖНИ АЛТЕРНАТИВИ ЗА ПОДОБРЯВАНЕ НА ВОДОСНАБДЯВАНЕТО В БЪЛГАРИЯ

English title: 20 YEARS OF EU INVESTMENTS IN WATER INFRASTRUCTURE. POSSIBLE ALTERNATIVES FOR IMPROVING WATER SUPPLY IN BULGARIA

Authors:

Marina Belcheva — a lawyer from the Sofia Bar Association and manager of the consulting companies "Lega Corp" EOOD and "Project Management" EOOD

Abstract: Over the past twenty years, the European Union has invested substantial financial resources in Bulgaria’s water supply and sewerage (WSS) infrastructure as an EU Member State, through various programs and mechanisms. The objective of these investments is to achieve maximum compliance with the Drinking Water Directive and the Urban Waste Water Treatment Directive, as well as to reduce losses in the national water supply network. Nevertheless, water scarcity remains a long-standing issue in numerous settlements; the number of areas subject to water supply restrictions is increasing, and losses in the distribution network are among the highest compared to Central European standards. Although Bulgaria is a country with significant water resources, record-high temperatures recorded in recent years, prolonged periods of drought, and the growing demands of agriculture, industrial production, and the population necessitate the search for alternative water supply sources. One such opportunity lies in the mineral waters suitable for daily consumption, of which Bulgaria has abundant reserves. Known for its exceptionally diverse mineral deposits in terms of temperature and composition, the country still possesses untapped potential that can be studied and systematized to address water shortages. This report examines the EU funds invested in Bulgaria’s WSS infrastructure over the past twenty years, the outcomes of the implemented projects, and the issues that continue to deprive thousands of people of daily access to water. It also considers the mineral water resources available in Bulgaria as an exceptional natural asset and a possible alternative water supply source.

Keywords: natural resources, mineral waters, sustainable management, concessions

JEL: K32, Q32, Q53

Language of full text: Bulgarian

Pages: 706–715

DOI: https://doi.org/10.37075/ISCYS.2026.1.062

Full text: ISCYS.2026.1.062.pdf

Към съдържанието

063. SOCIAL EMBEDDEDNESS AND THE EMERGENCE OF ACADEMIC INTRAPRENEURSHIP IN RESOURCE-CONSTRAINED UNIVERSITIES

Authors:

Evelina Van Mensel — University of National and World Economy (UNWE), Sofia
Nikolay A. Dentchev — Department “Entrepreneurship”, Business Faculty, University of National and World Economy (UNWE)

Abstract: This study examines how the social network embeddedness of academics fosters or inhibits the emergence of diverse, often non-commercial, forms of academic entrepreneurship in resource-constrained universities. Based on 38 semi-structured interviews and six focus groups across four heterogeneous universities, we find that relational structures—especially the multiplexity (multiple relationship types) and multilevel reach (ties across individual, organizational, and community levels) of academic networks—critically shape intrapreneurial behaviour. Robust external networks enable access to resources, legitimacy, and opportunity recognition; network closure and fragmentation inhibit action, even where formal policies appear supportive. We extend classic academic entrepreneurship typologies by identifying socially oriented, network-driven forms beyond commercialization. We also show how individual academics mobilise micro-ecosystems around themselves to drive societal impact. The study responds to calls for nuanced theorisation of intrapreneurial processes within universities and offers implications for strengthening the internal and external relational ecosystems that underpin academic entrepreneurship.

Keywords: Academic entrepreneurship; intrapreneurship; social network theory; embeddedness

JEL: I25, O35

Language of full text: English

Pages: 716–723

DOI: https://doi.org/10.37075/ISCYS.2026.1.063

Full text: ISCYS.2026.1.063.pdf

Към съдържанието

064. НЕОБХОДИМОСТ ОТ ЗАКОНОДАТЕЛНИ ПРОМЕНИ ЦЕЛЯЩИ СЪЗДАВАНЕ НА ВЪЗМОЖНОСТ ЗА ПРИВЛИЧАНЕ НА ДЪЛГ ПРЕЗ КАПИТАЛОВИЯ ПАЗАР

English title: THE NEED FOR LEGISLATIVE AMENDMENTS AIMED AT CREATING OPPORTUNITIES FOR ATTRACTING DEBT THROUGH THE CAPITAL MARKET

Authors:

Vilizar Chupetlovski — UZF University – Sofia

Abstract: The report examines proposed legislative amendments aimed at creating opportunities for state and municipal healthcare institutions to raise funds. It analyzes the effectiveness of obtaining debt financing in the form of bond loans, as well as legislative changes intended to expand the application of bond financing in the health sector. The main focus is on permitting mark-ups on medical devices and the modernization of the building infrastructure of healthcare institutions. 398 Вилизар Чупетловски – Д-р, Университет по застраховане и финанси - София, e-mail: vchupetlovski@uzf.bg 399 Vilizar Chupetlovski – PhD, UZF University – Sofia, e-mail: vchupetlovski@uzf.bg

Keywords: Bonds; healthcare facilities; modernization; healthcare.

JEL: G11, G18

Language of full text: Bulgarian

Pages: 724–732

DOI: https://doi.org/10.37075/ISCYS.2026.1.064

Full text: ISCYS.2026.1.064.pdf

Към съдържанието

065. МЕДИЙНА ИКОНОМИКА ПОД AI НАТИСК: ПРЕДИЗВИКАТЕЛСТВА И ПЕРСПЕКТИВИ

English title: MEDIA ECONOMY UNDER AI PRESSURE: CHALLENGES AND PERSPECTIVES

Authors:

Georgi Minev — PhD, UNWE, Department of Media and Public Communication

Abstract: The paper follows the technological history of the media through all of the important stages of environmental change caused by a given instrument, from the invention of the printing press to the advent of radio and television, and finally to digital convergence. The analysis draws on historical references to raise crucial points regarding the need for new business models in the media industry. SWOT analysis plays a significant part in the text, serving as a starting point for contemplation on potential opportunities.

Keywords: media economy; artificial intelligence; SWOT analysis; business models

JEL: L82, O33, D83, L86, M31

Language of full text: Bulgarian

Pages: 733–739

DOI: https://doi.org/10.37075/ISCYS.2026.1.065

Full text: ISCYS.2026.1.065.pdf

Към съдържанието

066. THE PARTNERSHIP BETWEEN ACADEMIA AND BUSINESS THROUGH TECHNOLOGY TRANSFER AND ACCESS TO UNIVERSITY TECHNOLOGY OFFERS: TRENDS AND EFFECTIVENESS

Authors:

Anelia Stoikova — Sofia University “St. Kliment Ohridski”, Sofia

Abstract: This article aims to emphasize the interest in technology offers and importance of technology offers at universities for enhancement of constructive partnerships between academia and business. Recognizing the universities as a space of knowledge and discoveries the activities related to technology transfer are driving forces for future innovations. Universities are place for talents and development of the most promising ideas and technologies that can change life and contribute for society wellbeing. In this context universities’ technology transfer has potential to lead important trends in forward looking academia-business collaboration and deployment of innovations. The summarized data encompass a wide spectrum of sources covering 29 countries and facilitates establishment of vision for international trends, effectiveness, and best practices, motivating for better impact, promotion of inventions of researchers, and further activities in particular in Bulgaria. The empirical data from carried out research, show high interest in information about the technology offers available at the universities and the technology transfer offices (TTOs), interest in more information about the activities of the TTOs, etc. The paper contributes for establishment of understanding that valuing and communicating technology offers will facilitate the interactions with business operators, and is a precondition for opening opportunities for technology transfer. Supplementary, highlights the importance of the new way to think about the potential of research discoveries and unlocking significant value from universities’ underutilized intellectual property as a catalyst which is dominantly management topic in the economic domain and requires cross-sectoral collaboration. Further research in this domain, including systematically mapping opportunities, models for measurement of effectiveness of the technology transfer at universities, competence frameworks for management purposes could be useful for this complex ecosystem with diverse interrelationships.

Keywords: technology transfer; universities; technology offers; intellectual property; trends; effectiveness

JEL: O30

Language of full text: English

Pages: 740–749

DOI: https://doi.org/10.37075/ISCYS.2026.1.066

Full text: ISCYS.2026.1.066.pdf

Към съдържанието

067. TAX ADVANTAGES AS A FACTOR IN ENSURING ENTERPRISE COMPETITIVENESS

Authors:

Sergii Zhyliakov — Postgraduate Student of the Department of Human Resources Management, Labor Economics and Economic Theory, Poltava University of Economics and Trade (PUET), Ukraine

Abstract: This study explores tax advantages as a key factor in enhancing enterprise competitiveness under current economic conditions. Tax advantages are defined as legal instruments of the tax system that allow businesses to reduce their tax burden and free up financial resources for development. The purpose of the research is to identify such tax incentives in ensuring companies’ competitive advantages, to analyze the experience of Ukraine and foreign countries – particularly Bulgaria – in applying tax reliefs, and to assess the impact of such measures on innovation activity, investment attractiveness, and human capital development. The study employs a systems-based approach, analysis and synthesis of scientific literature, and a comparative method for evaluating various tax regimes and their outcomes. The findings show that the tax environment is one of the defining external factors of a company’s competitiveness. Excessive tax pressure restrains investment and complicates the recruitment of qualified personnel, thereby weakening firm’s competitiveness. Conversely, the provision of tax reliefs and the reduction of tax rates produce a dual positive effect. On the one hand, business expenditures are reduced, which improves profitability and price competitiveness. On the other, the saved funds may be reinvested in business expansion, innovation implementation, and workforce development. The paper presents examples of successful tax incentive applications. In particular, Bulgaria has introduced a uniform 10% corporate and personal income tax rate, which attracts investors and stimulates entrepreneurship. It is argued that tax incentives aimed at investment and innovation foster the technological renewal of production and the formation of long-term competitive advantages for firms. Tax advantages are an effective tool for enhancing enterprise competitiveness, as they enable the legal optimization of tax expenditures and allow the redirection of saved resources toward strategic development.

Keywords: competitiveness, tax advantages, human capital

JEL: H24, H25, K34

Language of full text: English

Pages: 750–755

DOI: https://doi.org/10.37075/ISCYS.2026.1.067

Full text: ISCYS.2026.1.067.pdf

Към съдържанието

068. A CONCISE OVERVIEW OF WATER MANAGEMENT

Authors:

Stavros Syngelakis (ORCID: 0009-0001-0958-9881) — PhD candidate at South-West University “Neofit Rilski” – Blagoevgrad, Faculty of Economics

Abstract: The content discusses the critical state of water resources globally, highlighting the disparity between available resources and human needs. The research presented in the article employed a quantitative approach. In particular, the findings were derived from an examination of various articles and predominantly from online research concerning the abundant resources available from European Union websites, as well as the highly satisfactory bibliography, which is predominantly Greek in origin. In theory, nearly 1.2 billion people lack access to safe drinking water despite adequate water availability. While the European Water Framework Directive aims to manage water resources through comprehensive legislation, focusing on river basin management and public participation, in Greece, challenges include small hydrological units and significant seasonal variations, leading to over-exploitation and depletion of aquifers. Efficient management and adaptation strategies are vital in addressing water scarcity and climate change impacts.

Keywords: water resources; European Water Framework Directive; water scarcity; Greece; river basin management

JEL: G1

Language of full text: English

Pages: 756–767

DOI: https://doi.org/10.37075/ISCYS.2026.1.068

Full text: ISCYS.2026.1.068.pdf

Към съдържанието

069. КОНКУРЕНТОСПОСОБНОСТ НА ИНСТИТУЦИОНАЛНИТЕ МЕХАНИЗМИ ЗА МОНИТОРИНГ И КОНТРОЛ НА АНТИКОРУПЦИОННИТЕ ПОЛИТИКИ В РЕПУБЛИКА БЪЛГАРИЯ В СРАВНЕНИЕ С ТРЕТИ СТРАНИ

English title: COMPETITIVENESS OF INSTITUTIONAL MECHANISMS FOR MONITORING AND CONTROLLING ANTI-CORRUPTION POLICIES IN THE REPUBLIC OF BULGARIA COMPARED TO THIRD COUNTRIES

Authors:

Sevinch Niyazieva Hristemova — Sofia, Department of Financial Control, Finance and Accounting Faculty

Abstract: The competitiveness of institutional mechanisms for monitoring and controlling anti-corruption policies in Bulgaria compared to third countries is an important indicator of the effectiveness of public administration and the level of public trust. Bulgaria has a stable regulatory framework and institutional structure aimed at preventing, investigating, and sanctioning corrupt practices. However, compared to a number of third countries, the country faces difficulties related to insufficient coordination between institutions, limited transparency of processes, and delayed implementation of anti-corruption measures. In an international context, a number of countries outside the European Union have managed to implement more flexible and effective control approaches through integrated anti-corruption bodies, digitization of administrative processes, and broader citizen participation. To increase its competitiveness, Bulgaria needs to strengthen its institutional capacity, promote the independence of control bodies, and adapt successful international practices to the national context. A key factor for sustainable progress is the creation of a transparent and accountable governance environment based on trust and effective interaction between the state, civil society, and international partners. Improving these mechanisms will enable Bulgaria to achieve a higher level of effectiveness and trust in the fight against corruption on the international stage.

Keywords: anti-corruption policies, monitoring and control, anti-corruption competitiveness, transparency, international practices

JEL: D73, H70, F53

Language of full text: Bulgarian

Pages: 768–775

DOI: https://doi.org/10.37075/ISCYS.2026.1.069

Full text: ISCYS.2026.1.069.pdf

Към съдържанието

070. ХИБРИДНИ ТРЕЙДИНГ МОДЕЛИ НА АМЕРИКАНСКАТА ФОНДОВА БОРСА В КОНТЕКСТА НА КОМПАНИИТЕ ЗА БИЗНЕС РАЗВИТИЕ

English title: HYBRID TRADING MODELS ON THE AMERICAN STOCK EXCHANGE IN THE CONTEXT OF THE BUSINESS DEVELOPMENT COMPANIES (BDCs)

Authors:

Konstantin Georgiev — PhD student, SU “St. Kliment Ohridski”

Abstract: This study examines the use of a hybrid model in the context of business development companies (BDCs) on the American Stock Exchange. The purpose of the analysis is to compare the returns over a 10-year period of two investment approaches: 1) a hybrid model consisting of a strategy using fundamental and technical criteria; 2) a standard dividend strategy, in which an asset is purchased, its dividends are reinvested, thereby increasing the value of the portfolio. The paper presents a data set that includes historical prices, dividend information and widely used technical indicators. In addition, a comparative analysis is made between the hybrid model and the dividend model, assessing their effectiveness in terms of return and risk. The findings highlight the potential benefits of using hybrid models for trading in the dynamic financial world. In conclusion, this study contributes to the extremely rapidly developing field of financial modeling by validating a hybrid trading approach tailored to the business development company market. The results highlight the importance of integrating advanced analytical techniques in developing effective trading strategies, ultimately paving the way for more informed and profitable investment decisions.

Keywords: hybrid models; business development companies

JEL: G10, G15

Language of full text: Bulgarian

Pages: 776–783

DOI: https://doi.org/10.37075/ISCYS.2026.1.070

Full text: ISCYS.2026.1.070.pdf

Към съдържанието

071. КРЕАТИВНАТА ИНДУСТРИЯ – МЕДИАТОР ЗА УСТОЙЧИВО РАЗВИТИЕ В БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ

English title: THE CREATIVE INDUSTRY – MEDIATOR FOR SUSTAINABLE DEVELOPMENT IN BULGARIA AND THE EUROPEAN UNION

Authors:

Maria Lazarova — PhD Student, Sofia University “St. Kliment Ohridski”

Abstract: The paper represents an initial step towards a conceptual study of the creative industries, examined in the context of sustainable development, European non-financial reporting policies, corporate governance, leadership and control. The study aims to contribute to a better understanding and delineation of the role of the sector as an economic and social engine, promoting innovation, social cohesion within the sustainable framework of the European Union. By reviewing academic literature, European policy documents and media publications, the analysis explores the potential of the sector to support public policies and business practices aimed at sustainable growth. The Bulgarian context is structured through data from the National Statistical Institute and other key institutional assessments, identifying the lack of a unified national definition and the fragmentation of statistical data. In this regard, the article attempts to fill this gap by offering a basis for further research and analytical applications through the synthesis of a brief conceptual map of sub-sectors and economic activities in Bulgaria that could be included in analyses of the creative industries in line with international practices.

Keywords: creative industries, sustainable development, ESG, governance, sustainable management

JEL: Z11, Q01, O52

Language of full text: Bulgarian

Pages: 784–795

DOI: https://doi.org/10.37075/ISCYS.2026.1.071

Full text: ISCYS.2026.1.071.pdf

Към съдържанието

072. КОРПОРАТИВНО ДАНЪЧНО ПЛАНИРАНЕ В УСЛОВИЯТА НА ВЪВЕЖДАНЕ НА ЕВРОТО: ПРЕДИЗВИКАТЕЛСТВА И ВЪЗМОЖНОСТИ

English title: CORPORATE TAX PLANNING IN THE CONTEXT OF THE EURO INTRODUCTION: CHALLENGES AND OPPORTUNITIES

Authors:

Stefanija Ilieva — PhD student at the Faculty of Economics of Sofia University "St. Kliment Ohridski", PhD program "Finance, Financial Analysis and Financial Management"

Abstract: The report examines the impact of the upcoming accession of the Republic of Bulgaria to the Eurozone on corporate tax planning, focusing on the adaptation of company strategies in the context of currency convergence and fiscal integration. The main objective is to analyze how the introduction of the euro will change the corporate taxation environment, liquidity management and pricing, as well as to identify the consequences for the tax decisions of enterprises. Issues related to the transition to the single currency are considered: the elimination of currency risk, the reduction of transaction costs, the need for dual pricing and the reassessment of tax shields and financing costs. Based on a comparative analysis of the experience of other countries that have introduced the euro, conclusions are drawn about the strategic and operational dimensions of tax planning in the Bulgarian corporate sector. The main objectives of the report are to identify the mechanisms through which accession to the Eurozone affects corporate tax behaviour and tax burden optimization strategies, as well as to assess the role of changes in liquidity and pricing policy on corporate taxation.

Keywords: corporate tax planning, Eurozone, effects

JEL: H21, H29

Language of full text: Bulgarian

Pages: 796–807

DOI: https://doi.org/10.37075/ISCYS.2026.1.072

Full text: ISCYS.2026.1.072.pdf

Към съдържанието

073. ФИНАНСИРАНЕ НА РЕГИОНАЛНОТО РАЗВИТИЕ В БЪЛГАРИЯ – РЕСУРСНИ ПРЕДИЗВИКАТЕЛСТВА И ПУБЛИЧНА ОТЧЕТНОСТ

English title: FINANCING REGIONAL DEVELOPMENT IN BULGARIA – RESOURCES, CHALLENGES AND PUBLIC ACCOUNTABILITY

Authors:

Yoana Parvanova-Ivanova — Department of Finance and Credit, Faculty of Finance, Academy of Economics "D. A. Tsenov - Svishtov

Abstract: Regional development has multifaceted significance both for the state and for society, which is why it should be considered an indispensable national priority. This applies to investment efforts in the area and to the significant public funds from the national and European budgets allocated for the implementation of public projects. The present report analyzes the evolution of financial mechanisms before 2006 and their transformation after Bulgaria’s accession to the EU, with an emphasis on the funding received under the Operational Programmes “Regional Development” 2007–2013 and “Regions in Growth” 2014–2020. The study examines the dynamics of financial assistance and traces the degree of publicity regarding the spending of funds. Considering the established difficulties in accessing consolidated, structured, and publicly available information about financed projects and their beneficiaries, recommendations have been formulated to improve transparency, accountability, and the possibilities for assessing the effectiveness of the allocated funds.

Keywords: regional development, financing, operational programmes, publicity

Language of full text: Bulgarian

Pages: 808–817

DOI: https://doi.org/10.37075/ISCYS.2026.1.073

Full text: ISCYS.2026.1.073.pdf

Към съдържанието

074. БРУТНАТА ДОБАВЕНА СТОЙНОСТ И БЮДЖЕТНИТЕ ПРИХОДИ ОТ ДДС В БЪЛГАРИЯ: ИКОНОМЕТРИЧЕН АНАЛИЗ ЗА ПЕРИОДА 2015-2024 Г.

English title: GROSS VALUE ADDED AND BUDGET REVENUES FROM VAT IN BULGARIA: AN ECONOMETRIC ANALYSIS FOR THE PERIOD 2015-2024

Authors:

Diman Karanfilov — PhD student, “D. A. Tsenov” Academy of Economics, Department of Finance and Credit, Svishtov, 2 Em. Chakarov str

Abstract: This report examines the relationship between gross value added and budget revenues from value added tax in Bulgaria for the period 2015-2024 by applying econometric methods. The main objective of the study is to establish the degree and nature of the influence of the tax base on the formation of VAT revenues in the state budget and, in parallel, assess the effectiveness of the tax system. Correlation and regression analysis methods are applied. The results demonstrate an extremely strong positive correlation between the two variables with the presence of a stable economic dependence with a conclusion about an established basis for forecasting budget revenues. The average effective tax rate of 10.40% indicates stable VAT collection relative to the created value added, with slight variations due to economic and tax factors. The study has practical value for fiscal planning and assessment of tax policy.

Keywords: gross value added, VAT, econometric analysis, tax efficiency, fiscal policy of Bulgaria

JEL: H20, H60

Language of full text: Bulgarian

Pages: 818–826

DOI: https://doi.org/10.37075/ISCYS.2026.1.074

Full text: ISCYS.2026.1.074.pdf

Към съдържанието

075. ПРЕСТЪПЛЕНИЯ, СВЪРЗАНИ С ДАНЪК ВЪРХУ ДОБАВЕНАТА СТОЙНОСТ, РАЗСЛЕДВАНИ ОТ ЕВРОПЕЙСКАТА ПРОКУРАТУРА И ОТРАЖЕНИЕТО ИМ ВЪРХУ БЮДЖЕТА НА ЕВРОПЕЙСКИЯ СЪЮЗ

English title: VAT-RELATED CRIMES INVESTIGATED BY THE EUROPEAN PUBLIC PROSECUTOR’S OFFICE AND THEIR IMPACT ON THE EUROPEAN UNION BUDGET

Authors:

Tsvetana Barzinska — Prosecutor at the District Prosecutor’s Office – Plovdiv, PhD student at the Academy of the Ministry of Interior Studies – Plovdiv, Plovdiv, 3 Saedinenie Square

Abstract: The report examines offences related to value added tax (VAT) that fall within the competence of the European Public Prosecutor’s Office (EPPO) and their impact on the budget of the European Union. It analyses the legal framework established by Regulation (EU) 2017/1939 and Directive (EU) 2017/1371, as well as the functional link between the common system of VAT and the EU system of own resources. The specific features of cross-border VAT fraud, its operational mechanisms, and the resulting damages are discussed, with the argument that only frauds of a cross-border nature and of significant financial scale can affect the financial interests of the Union.

Keywords: European Public Prosecutor’s Office, value added tax, cross-border fraud, financial interests of the EU, EU budget

JEL: A12, H26, H87, K34, K14

Language of full text: Bulgarian

Pages: 827–837

DOI: https://doi.org/10.37075/ISCYS.2026.1.075

Full text: ISCYS.2026.1.075.pdf

Към съдържанието

076. АНАЛИЗ НА ПРИХОДИТЕ ОТ КОСВЕНИ ДАНЪЦИ В БЮДЖЕТА НА БЪЛГАРИЯ

English title: ANALYSIS OF REVENUE FROM INDIRECT TAXES IN THE BUDGET OF BULGARIA

Authors:

Kostadin Stanoev — PhD Student, Finance, Money Circulation, Credit and Insurance, Department “Finance and Accounting”, Southwestern University "Neofit Rilski", Blagoevgrad

Abstract: This report examines the structure, dynamics, and significance of indirect tax revenues in the Bulgarian state budget. The analysis covers the period from 2001 to 2024. It examines the three main indirect taxes that account for the largest share of revenues in Bulgaria's budget: value-added tax (VAT), excise duties, and customs duties. The analysis used statistical data from the NSI and Eurostat. The study tracks the dynamics of indirect tax revenues in relation to total budget revenues. The main conclusion is that VAT revenues decline in times of crisis, suggesting that this tax has a countercyclical effect. Excise duty revenues exhibit a similar trend. A strong positive correlation was found between GDP and VAT and excise duty revenues, and a weaker correlation was found with customs duty revenues.

Keywords: Indirect taxes, Value Added Tax (VAT), Excise duties, Customs duties, Economic growth.

JEL: H20, H21, E62

Language of full text: Bulgarian

Pages: 838–847

DOI: https://doi.org/10.37075/ISCYS.2026.1.076

Full text: ISCYS.2026.1.076.pdf

Към съдържанието

077. МЕТОДОЛОГИЧЕСКИ ПОДХОДИ ЗА БАНКОВО ФИНАНСИРАНЕ НА ЕКОЛОГИЧНА СИГУРНОСТ

English title: METHODOLOGICAL APPROACHES FOR BANK FINANCING OF ENVIRONMENTAL SECURITY

Authors:

Tsvetelina Simeonova — PhD student in “Finance, accounting and insurance” program, University of Finance and Insurance, Sofia

Abstract: The study builds an analytical framework for bank financing of environmental security through a systematization and comparative analysis of thirteen contemporary methodological approaches. The theoretical foundations and practical implications are examined with regards to ESG integration; the risk-based approach; sustainability finance; the EU taxonomy; the impact-based approach; blended finance; natural capital accounting; science-based climate targets; green/climate bond principles; dual materiality; geospatial and scenario risk analysis; responsible governance and engagement; circular economy. The study highlights that the banking sector is not a financial intermediary only – it is also a key architect of the green transition. The presented framework for bank financing of environmental security– methodological approaches, channels, mechanisms and instruments – provides theoretical clarity and practical applicability for directing capital flows towards environmental security.

Keywords: environmental security, sustainable finance, banks, ESG, EU Taxonomy, green bonds, blended finance, double materiality, NGFS, TCFD.

JEL: Q54

Language of full text: Bulgarian

Pages: 848–859

DOI: https://doi.org/10.37075/ISCYS.2026.1.077

Full text: ISCYS.2026.1.077.pdf

Към съдържанието

078. ЛИБЕРАЛЕН И СЕЛЕКТИВЕН ПОДХОД В НАСЪРЧАВАНЕТО НА ПРЕКИТЕ ЧУЖДЕСТРАННИ ИНВЕСТИЦИИ, ТЕНДЕНЦИИ В БЪЛГАРИЯ В ПЕРИОДА 2014-2025 Г.

English title: LIBRARY AND SELECTIVE APPROACH IN PROMOTING FOREIGN DIRECT INVESTMENTS, TRENDS IN BULGARIA IN THE 2014-2025 PERIOD

Authors:

Miglena Mileva — PhD student, University of Insurance and Finance, Sofia

Abstract: General trends in the promotion of foreign direct investment (FDI) show that there are two main trends in FDI attraction policies: A liberal approach where investment incentives are very limited and rely mainly on the market as a regulator of FDI flows; Selective approach – Governments use a range of measures, financial and administrative, to encourage investment in sectors they consider promising and restrict market access to investments that do not meet certain criteria. Global trends show that in today's world of increasing integration of economies and a global market, the role of foreign direct investment and the entry of multinational companies into countries on different continents can be seen as a factor for the internationalization of economies. FDI trends in Bulgaria are analysed on the basis of the BNB database and an information system. A review of the 100 companies with the largest revenues in Bulgaria shows that their distribution by sector and by region is uneven. The top 100 companies with the highest revenues in 2023 /according to data from Apis/ in Bulgaria are 43 Bulgarian, the remaining 57 are with foreign participation / control. This shows a significant share of Bulgarian enterprises. The distribution of FDI by country largely repeats the distribution by source country of FDI according to BNB data for the last few years. An overview of the distribution by district shows that most are based in Sofia /65/, while there are districts where there are none of the top 100 enterprises by revenue. Ten of the companies in the top 100 by revenue have received an investment class certificate under the Investment Promotion Act (IPA). The data shows that cities with higher GDP per capita attracted more FDI. There is also a correlation between attracting FDI and GVA in industry and services sectors.

Keywords: Liberal, selective, approach, promotion, investment

JEL: F International Economics

Language of full text: Bulgarian

Pages: 860–876

DOI: https://doi.org/10.37075/ISCYS.2026.1.078

Full text: ISCYS.2026.1.078.pdf

Към съдържанието

079. ЕКОЛОГИЧНАТА СИГУРНОСТ И ФИНАНСОВИЯТ СЕКТОР: КОНЦЕПТУАЛНА ЕВОЛЮЦИЯ, ТЕОРЕТИЧНИ РАЗГРАНИЧЕНИЯ И РОЛЯТА НА БАНКИТЕ В ПРЕХОДА КЪМ УСТОЙЧИВО РАЗВИТИЕ

English title: ENVIRONMENTAL SECURITY AND FINANCIAL SECTOR: CONCEPTUAL EVOLUTION, THEORETICAL DIFFERENCIALTION, AND THE ROLE OF THE BANKS IN THE TRANSITION TO SUSTAINABLE DEVELOPMENT

Authors:

Tsvetelina Simeonova — PhD student in “Finance, accounting and insurance” program, University of Insurance and Finance, Sofia

Abstract: The study systematizes the evolution of the concept of "ecological security" and its relationship with sustainable financing. The terms "ecological security", "ecological sustainability" and "sustainable development" are distinguished, arguing for their complementarity along the axis "operational stabilization - strategic vision - integrated development model". An analytical framework for environmental vulnerability, key threat categories and international policies is presented. The transmission channels from environmental factors to credit, market and liquidity risk in the banking sector are discussed, as well as the toolkit of sustainable finance (green bonds, sustainability-linked loans, green mortgages). Environmental risk-informed capital allocation and the role of regulators and central banks are assessed. The Bulgarian context is illustrated with examples of credit policies and lists of excluded activities.

Keywords: environmental security; environmental sustainability; sustainable development; sustainable finance; NGFS; TCFD.

JEL: Q54

Language of full text: Bulgarian

Pages: 877–888

DOI: https://doi.org/10.37075/ISCYS.2026.1.079

Full text: ISCYS.2026.1.079.pdf

Към съдържанието

080. РЕГИОНАЛНО НЕРАВЕНСТВО И ДЕМОГРАФСКИ УПАДЪК В СЕЛСКИТЕ РАЙОНИ НА ИЗТОЧНА ЕВРОПА: ИКОНОМИЧЕСКИ ПРЕДИЗВИКАТЕЛСТВА И ВЪЗМОЖНИ ПОЛИТИКИ

English title: REGIONAL INEQUALITY AND DEMOGRAPHIC DECLINE IN RURAL EASTERN EUROPE: ECONOMIC CHALLENGES AND POLICY RESPONSES

Authors:

Stanislava Aleksandrova — PhD student, Department of "Economic Theory and International Economic Relations", Faculty of Economics, University of Veliko Tarnovo "St. Cyril and Methodius"

Abstract: Regional inequality and demographic decline are deeply intertwined challenges for sustainable development in Eastern Europe. While major cities attract capital and labor, rural regions face persistent depopulation, poverty, and limited access to infrastructure and services, creating a self-reinforcing cycle of marginalization. This article examines these dynamics with a focus on Bulgaria, where peripheral areas such as the Northwest record some of the EU’s lowest GDP per capita levels and fastest population loss. Drawing on theories of cumulative causation, core–periphery models, and migration push–pull factors, the study highlights how economic stagnation drives outmigration while demographic decline undermines growth potential. The article argues that markets alone cannot reduce disparities and calls for active public policies: investment in SMEs, modernized agriculture, digital and transport connectivity, improved healthcare and education, and demographic incentives.

Keywords: regional inequality, depopulation, Eastern Europe, Rural development, public policy

JEL: R11, R23, R58

Language of full text: Bulgarian

Pages: 889–896

DOI: https://doi.org/10.37075/ISCYS.2026.1.080

Full text: ISCYS.2026.1.080.pdf

Към съдържанието

081. СИСТЕМА ЗА УПРАВЛЕНИЕ НА СЪВРЕМЕННАТА ОРГАНИЗАЦИЯ – СЪЩНОСТ И УСЪВЪРШЕНСТВАНЕ

English title: MANAGEMENT SYSTEM OF THE MODERN ORGANIZATION – ESSENCE AND IMPROVEMENT

Authors:

Petar Penev — PhD student in the Department of Management, Faculty of Management and Administration of the University of National and World Economy (UNWE), Sofia

Abstract: Organizations are the foundation of social life. The system that ensures the management of an organization is called a management system (MS). Studying the MS with a view to its design, functioning and improvement is a constant necessity.

Keywords: organization, system, management, management system, improvement.

JEL: Н83, М11

Language of full text: Bulgarian

Pages: 897–904

DOI: https://doi.org/10.37075/ISCYS.2026.1.081

Full text: ISCYS.2026.1.081.pdf

Към съдържанието

082. GLOCALIZATION OF THE SPECIALIST DOCTOR’S BRAND IN THE EUROPEAN SINGLE MARKET

Authors:

Martina Dimitrova — Department of Marketing and International Economic Relations, Faculty of Economics and Social Sciences, “Paisii Hilendarski” University of Plovdiv

Abstract: Specialist doctors operating within the European Single Market navigate a complex duality of maintaining a coherent professional brand identity that transcends borders while adapting to distinct national contexts shaped by language, culture, and regulation. This conceptual study develops a model of glocalized brand identity for medical professionals, grounded in the standardization and adaptation debate and glocalization theory. It argues that a doctor’s global core brand, anchored in expertise, ethical integrity, and professional values, must remain consistent to sustain credibility and trust across European markets. At the same time, communication style, service presentation, and digital presence require strategic localization to align with national patient expectations and service cultures. The proposed model illustrates how global identity coherence and local responsiveness can operate as mutually reinforcing dimensions of brand equity in cross-border healthcare. By integrating marketing, cultural, and regulatory perspectives, the study advances understanding of how medical professionals can build culturally resonant, ethically compliant, and competitively differentiated personal brands within Europe’s integrated yet diverse healthcare landscape.

Keywords: Glocalization, Standardization vs. Adaptation, Personal Branding, Healthcare Marketing

JEL: L84, F15

Language of full text: English

Pages: 905–912

DOI: https://doi.org/10.37075/ISCYS.2026.1.082

Full text: ISCYS.2026.1.082.pdf

Към съдържанието

083. УПРАВЛЕНИЕ НА РИСКА В УПРАВЛЕНИЕТО НА ПРОЕКТИ В БЪЛГАРИЯ: ПРАКТИКИ, ПРЕДИЗВИКАТЕЛСТВА И ПЕРСПЕКТИВИ

English title: RISK MANAGEMENT IN PROJECT MANAGEMENT IN BULGARIA: PRACTICES, CHALLENGES AND PERSPECTIVES

Authors:

Ivana Karadzhinska — Department of Management, University of National and World Economy (UNWE) – Sofia

Abstract: The present report aims to examine risk management as a key element in project management in Bulgaria. In the context of the growing project activity in the country—both in the private and in the public sector—effective identification, analysis, and control of risks are summarized as decisive factors for the successful implementation of a given project. The theoretical framework for risk management is based on international standards and analyzes the extent to which these standards are applied effectively in Bulgaria. The report concludes with specific recommendations for improvement, including integrating risk management throughout the entire project life cycle, providing training for project teams, adapting international best practices, improving communication, and implementing innovative monitoring systems. In conclusion, it can be emphasized that in order to improve project effectiveness in Bulgaria, there is a significant need not only to comply with requirements but also to adopt risk management as a strategic managerial tool.

Keywords: Risk management, project, advantages, disadvantages

JEL: M10, M16, M19, O22, M19, O22

Language of full text: Bulgarian

Pages: 913–919

DOI: https://doi.org/10.37075/ISCYS.2026.1.083

Full text: ISCYS.2026.1.083.pdf

Към съдържанието

084. ГЛОБАЛНИ СЛИВАНИЯ И ПРИДОБИВАНИЯ: КОРПОРАТИВНА УСТОЙЧИВОСТ ЧРЕЗ ЛИДЕРСТВО И УПРАВЛЕНИЕ НА ПРОМЯНАТА

English title: GLOBAL MERGERS AND ACQUISITIONS: CORPORATE SUSTAINABILITY THROUGH LEADERSHIP AND CHANGE MANAGEMENT

Authors:

Denitsa Aleksandrova-Salim — PhD candidate at the Department of Management, University of National and World Economy (UNWE), Sofia

Abstract: In the context of increasing global competition and economic instability, mergers and acquisitions (M&A) are emerging as a strategic instrument for achieving corporate sustainability and competitive advantage. They offer opportunities for market share expansion, risk diversification, and optimization of operational and financial resources, while simultaneously fostering innovation and accelerating organizational competitiveness. The effective implementation of M&A requires proactive change management. In this process, leadership plays a key role - by formulating a vision, promoting adaptability, and shaping a corporate culture capable of supporting integration processes. Strategic communication with internal and external stakeholders is a crucial factor in minimizing resistance to change and accelerating the realization of synergies that are critical to the success of such transactions. A project-based approach to M&A complements the management perspective by structuring transformation processes into clearly defined stages - from due diligence and valuation to integration, monitoring, and results optimization. The combination of managerial and project management practices ensures systematic control, transparency, and effective resource allocation, minimizing risks and accelerating the achievement of strategic objectives. Scholarly research emphasizes that corporate sustainability depends on the organization’s ability to balance external challenges arising from globalization with the internal stability of its processes and resources. In this context, M&A are viewed not only as financial instruments but also as complex management strategies that integrate leadership, strategic planning, and project discipline. In doing so, organizations build a sustainable foundation for growth, long-term competitiveness, and organizational flexibility capable of adapting to a dynamic global environment.

Keywords: mergers and acquisitions, corporate sustainability, change management, leadership, globalization, project management, strategic integration.

JEL: G34, M14, Q56, M12, F60, O19

Language of full text: Bulgarian

Pages: 920–927

DOI: https://doi.org/10.37075/ISCYS.2026.1.084

Full text: ISCYS.2026.1.084.pdf

Към съдържанието

085. ОЦЕНКА НА ПОЛИТИКАТА ЗА РАЗВИТИЕ НА ИНТЕЛИГЕНТНИТЕ ТРАНСПОРТНИ СИСТЕМИ В БЪЛГАРИЯ В КОНТЕКСТА НА УСТОЙЧИВАТА ГРАДСКА МОБИЛНОСТ

English title: ASSESSMENT OF THE POLICY FOR THE DEVELOPMENT OF INTELLIGENT TRANSPORT SYSTEMS IN BULGARIA IN THE CONTEXT OF SUSTAINABLE URBAN MOBILITY

Authors:

Marta Klisurova (ORCID: 0009-0009-5346-4777) — Eng., PhD student at the Department "Economics of Transport and Energy", UNWE

Abstract: This report aims to assess the policy for the development and implementation of intelligent transport systems (ITS) in Bulgaria in the context of sustainable urban mobility. The main tasks of the study include analyzing strategic and regulatory documents, tracking progress in the implementation of ITS solutions, and assessing the degree of alignment between national and European priorities in the field of intelligent mobility. The methodological approach is based on a comparative analysis of policies and strategic documents, as well as a review of good practices from EU Member States. The results show that Bulgaria has made significant progress in the digitization and integration of transport systems, but challenges remain in terms of inter-institutional coordination, data management, and limited private sector participation. In conclusion, the need for a more integrated approach to smart mobility policies, improved transport data exchange, and the promotion of public-private partnerships is emphasized. The study has practical applicability in the development and improvement of policies for the sustainable development of the transport system in urban environments.

Keywords: intelligent transport systems (ITS), sustainable urban mobility, transport policy, Bulgaria, European Union

JEL: R41, O18, Q56, L91, H56

Language of full text: Bulgarian

Pages: 928–942

DOI: https://doi.org/10.37075/ISCYS.2026.1.085

Full text: ISCYS.2026.1.085.pdf

Към съдържанието

086. ОЦЕНКА НА ПРОЕКТНАТА ГЪВКАВОСТ – КОНЦЕПЦИЯ И ПИЛОТЕН ИНСТРУМЕНТ

English title: ASSESSMENT OF PROJECT AGILITY – CONCEPT AND A PILOT TOOL

Authors:

Stanislava Trifonova — PhD candidate at the Department of Management, University of National and World Economy (UNWE), Sofia

Abstract: In today's dynamic and rapidly changing environment, agility remains a key capability for the survival of any organisation that wants to develop sustainably, expand its opportunities, increase its competitiveness, and achieve long-term success. Organisations are increasingly seeking to implement agile practices that help meet customer expectations in a timely manner and maintain their market positions. However, improper application of this approach can do more harm than good. This necessitates an assessment of project agility in order to identify areas for improvement. This report presents the concept and implementation of a pilot tool for this purpose.

Keywords: Project management, agile approach, assessment of project agility

JEL: M10, M14

Language of full text: Bulgarian

Pages: 943–951

DOI: https://doi.org/10.37075/ISCYS.2026.1.086

Full text: ISCYS.2026.1.086.pdf

Към съдържанието

087. ПРИРОДЕН ГАЗ И ИНДУСТРИАЛНА ТРАНСФОРМАЦИЯ В БЪЛГАРИЯ

English title: NATURAL GAS AND INDUSTRIAL TRANSFORMATION IN BULGARIA

Authors:

Rosen Simitchiev — PhD student at the Department of "Industrial Business", UNWE – Sofia

Abstract: Does natural gas play a significant role in the context of the rapid deployment of renewable energy sources (RES), ensuring the reliable operation and balance of electricity systems? Is there currently a synergy between RES and natural gas? Is it appropriate for Bulgaria to consider the mentioned advantages of natural gas when formulating the new energy strategy and defending its interests within the framework of the EU’s common energy policy? In general, the energy transition is a historical process in which new primary energy sources begin to be used. However, old and new sources continue to coexist for a long period and typically shape the trend of any current industrial transformation. Under the present global trend of industrial transformation, haste and refusal to develop and simultaneously use existing sources - such as coal, natural gas and nuclear energy - create certain risks. Without ensuring the development of secure, sustainable and reliable new sources of energy, this inevitably leads to reduced competitiveness and deindustrialization. A major issue in Bulgarian energy policy is the lack of a defined national interest in the energy sector in the context of the current state of industrial transformation in the country.

Keywords: Energy policy, natural gas, energy transition, industrial transformation, national interests

JEL: Q40, Q41, Q42, Q43, Q47, Q48, Q49, P18, O13

Language of full text: Bulgarian

Pages: 952–960

DOI: https://doi.org/10.37075/ISCYS.2026.1.087

Full text: ISCYS.2026.1.087.pdf

Към съдържанието

088. ИНТЕЛИГЕНТНА МЕТОДИКА ЗА ПОВИШАВАНЕ РЕПУТАЦИЯТА НА СПОРТНИТЕ КЛУБОВЕ КАТО СРЕДСТВО ЗА ПОДОБРЯВАНЕ НА ФИНАНСОВОТО ИМ СЪСТОЯНИЕ

English title: AN INTELLIGENT METHOD FOR ENHANCING THE REPUTATION OF SPORTS CLUBS AS A MEANS OF IMPROVING THEIR FINANCIAL CONDITION

Authors:

Veselin Valchev — PhD student, Department of Industrial Business, University of National and World Economy (UNWE), Sofia

Abstract: This report explores the role of intelligent technologies in the development and maintenance of reputation within sports organizations. The focus is placed on professional football clubs, with particular attention to the relationship between reputational capital and the financial standing of these entities. The analysis is grounded in the hypothesis that contemporary tools based on artificial intelligence (AI) can be strategically employed to influence key determinants shaping public perception of clubs. The study identifies a set of factors with direct impact on reputation and integrates them into an intelligent methodology built upon various AI-based instruments.

Keywords: Artificial Intelligence, Sports Financing, Reputation in Sports, Sports Management

JEL: L83, G32, O33

Language of full text: Bulgarian

Pages: 961–974

DOI: https://doi.org/10.37075/ISCYS.2026.1.088

Full text: ISCYS.2026.1.088.pdf

Към съдържанието

089. МОДЕЛИ ЗА ДИГИТАЛЕН КОНТРОЛ И ИНТЕГРИТЕТ ПРИ ПЛАНИРАНЕ И РАЗХОДВАНЕ НА ПУБЛИЧНИ СРЕДСТВА: ОПИТЪТ НА ИТАЛИЯ, ФРАНЦИЯ И КАЗАХСТАН И ВЪЗМОЖНОСТИТЕ ЗА ПРИЛАГАНЕ В БЪЛГАРИЯ

English title: MODELS OF DIGITAL CONTROL AND INTEGRITY IN PUBLIC FUND MANAGEMENT: LESSONS FROM ITALY, FRANCE AND KAZAKHSTAN AND THEIR APPLICATION IN BULGARIA

Authors:

Teodor Burov — PhD student, Department of Financial Control, UNWE, Sofia

Abstract: This paper explores digital models for control and integrity in public fund management, focusing on public procurement and financial transparency. It compares three international models for digital control and integrity in public spending – Italy’s ANAC system for procurement oversight, France’s Chorus Pro B2G e-invoicing platform, and Kazakhstan’s AI-based Datanomix model. Building on their strengths, the paper proposes a Digital Procurement Integrity Hub (DPIH) for Bulgaria, integrating data from CAIS EOP, ARACHNE, ISBK and the forthcoming national e-invoicing system. The model aims to provide full-cycle procurement oversight through automated analytics, anomaly detection, structured open data and institutional cooperation. The findings show that digital tools can transform public spending control from reactive to preventive, enhancing transparency, accountability and public trust.

Keywords: digital control, integrity, public procurement, open data, artificial intelligence

JEL: H57, H83, O33, D73

Language of full text: Bulgarian

Pages: 975–983

DOI: https://doi.org/10.37075/ISCYS.2026.1.089

Full text: ISCYS.2026.1.089.pdf

Към съдържанието

090. ЕФЕКТИВНОСТТА НА ФИНАНСОВИЯ КОНТРОЛ – ИНСТРУМЕНТ ЗА ОГРАНИЧАВАНЕ НА КОРУПЦИЯТА

English title: THE EFFECTIVENESS OF FINANCIAL CONTROL – AS A TOOL FOR CURBING CORRUPTION

Authors:

Evgeni Baltov — PhD student, Department of Financial Control, Finance and Accounting Faculty, UNWE, Sofia, Bulgaria

Abstract: This report examines the effectiveness of financial control as a tool for limiting corruption practices. In the context of increased requirements for transparency and accountability in the management of public funds, financial control plays a primary role in preventing violations related to corruption and misuse of resources. The aim of the study is to analyze the relationship between financial control systems and the degree of corruption risk in institutions. The methodological approach includes a comparative analysis of the regulatory framework, control mechanisms and good practices within the European Union and Bulgaria. The results of the analysis show that the effectiveness of financial control depends on several important factors such as: the independence of control bodies, the professional competence of auditors, the level of digitalization and the degree of public control.

Keywords: corruption, prevention, financial control

JEL: H83, D73

Language of full text: Bulgarian

Pages: 984–992

DOI: https://doi.org/10.37075/ISCYS.2026.1.090

Full text: ISCYS.2026.1.090.pdf

Към съдържанието

091. ТАКСОНОМИЯТА НА ЕВРОПЕЙСКИЯ СЪЮЗ И РОЛЯТА Й ЗА БАНКОВИЯ СЕКТОР

English title: THE EUROPEAN UNION TAXONOMY AND ITS ROLE IN THE BANKING SECTOR

Authors:

Alie Asanova Borizanova (ORCID: 0009-0007-3499-1606) — PhD Student in Department Economics of Natural Resources, Business Faculty, University of National and World Economy

Abstract: The European Union Taxonomy represents a cornerstone of the EU’s sustainable finance agenda and the broader Green Deal framework. It establishes a unified classification system that defines which economic activities can be considered environmentally sustainable, thereby providing a common language for investors, financial institutions, and companies. This report examines the role and significance of the EU Taxonomy for the banking sector, analyzing both its regulatory foundations and its practical implications. The theoretical section outlines the origins, principles, and objectives of the Taxonomy, its legal basis, and its relationship with key EU policies such as the European Green Deal, the Sustainable Finance Disclosure Regulation (SFDR), and the Corporate Sustainability Reporting Directive (CSRD). Special emphasis is placed on the six environmental objectives and the “do no significant harm” principle, which ensure the consistency and integrity of the classification framework. The analytical section focuses on the impact of the Taxonomy on the banking sector, highlighting new reporting obligations, changes in risk management practices, the integration of ESG factors into credit and investment decisions, and the emergence of new green financial instruments. The report also discusses challenges related to data availability, compliance complexity, and the need for internal transformation within financial institutions. The conclusion stresses that the EU Taxonomy should be seen not merely as a technical classification tool but as a strategic framework driving structural change in the banking industry. It redefines the role of banks from traditional financial intermediaries to active facilitators of the transition toward a sustainable, low-carbon economy.

Keywords: EU Taxonomy, Banking sector, Sustainable finance, ESG regulation, Green transition

JEL: G21, Q56, G28

Language of full text: Bulgarian

Pages: 993–1002

DOI: https://doi.org/10.37075/ISCYS.2026.1.091

Full text: ISCYS.2026.1.091.pdf

Към съдържанието

092. СЪВРЕМЕННИ ПРЕДИЗВИКАТЕЛСТВА ПРЕД РАЗВИТИЕТО НА ПУБЛИЧНИТЕ ПЕНСИОННИ СХЕМИ И ФОНДОВЕ В БЪЛГАРИЯ

English title: CONTEMPORARY CHALLENGES TO THE DEVELOPMENT OF PUBLIC PENSION SCHEMES AND FUNDS IN BULGARIA

Authors:

Valentina Chikova — PhD student, Department of Human Resources and Social Protection, Faculty of General Economics, University of National and World Economy (UNWE), Sofia

Abstract: This report examines the contemporary challenges facing the development of public pension schemes and funds in Bulgaria. The analysis covers the institutional, regulatory, economic and social factors influencing the sustainability of the system. The main trends in demographic aging, the financial stability of the Pension Fund and the role of the second and third pension pillars are indicated. Based on the analysis, strategic guidelines for reform are formulated, aimed at extending working lives, improving the collection of social contributions, increasing the adequacy of pensions and digitalizing management processes. The conclusion emphasizes the need for an integrated approach combining social sensitivity, fiscal discipline and institutional modernization.

Keywords: pension system, social security, sustainability, demographic changes, public policy

JEL: G23

Language of full text: Bulgarian

Pages: 1003–1015

DOI: https://doi.org/10.37075/ISCYS.2026.1.092

Full text: ISCYS.2026.1.092.pdf

Към съдържанието

093. ФИНАНСОВА УСТОЙЧИВОСТ И ДИВЕРСИФИКАЦИЯ НА ПРИХОДИТЕ В ДЪРЖАВНИТЕ ЛЕЧЕБНИ ЗАВЕДЕНИЯ В КОНТЕКСТА НА ЕВРОПЕЙСКИТЕ ПОЛИТИКИ И ПРАКТИКИ

English title: FINANCIAL SUSTAINABILITY AND REVENUE DIVERSIFICATION IN PUBLIC HOSPITALS IN THE CONTEXT OF EUROPEAN POLICIES AND PRACTICES

Authors:

Velimira Chupetlovska — PhD Student, Department of Finance, Faculty of Finance and Accounting, UNWE, Sofia

Abstract: The report examines issues related to financial stability and revenue diversification in state and municipal hospitals in Bulgaria, within the context of European policies and practices in the healthcare sector. The main sources of revenue are reviewed, and the study highlights the role of financial management and strategic planning as key factors for improving the efficiency and sustainability of public hospitals. Based on the empirical analysis, the study identifies the need to enhance transparency and consumer awareness regarding the prices and types of services provided to ensure competitiveness and fair pricing. The conclusion formulates recommendations for the implementation of European approaches to financial stability.

Keywords: financial stability; diversification; revenues; healthcare institutions; European practices

JEL: G32, H51, I18

Language of full text: Bulgarian

Pages: 1016–1024

DOI: https://doi.org/10.37075/ISCYS.2026.1.093

Full text: ISCYS.2026.1.093.pdf

Към съдържанието

094. ПРОДАЖБИ ЧРЕЗ LINKEDIN

English title: SALES VIA LINKEDIN

Authors:

Iliyan Boychev — PhD Student, Department Economics of Trade, Economics of Infrastructure Faculty, UNWE, Sofia

Abstract: In our time, it is not just difficult, but impossible to imagine life without social networks that affect not only the individual, but also business. The most popular, business-oriented social network is Linkedin. It is not only the most established platform, but also the only professional social network of its kind. Above all, LinkedIn can be defined as an event that supports business 24 hours a day, 7 days a week. Created as a platform connecting employers and job candidates, today LinkedIn represents a community of professionals from different social and professional sectors who can communicate with each other. Last but not least, Linkedin is also a unique place for selling products and services, but under strict rules, requiring compliance with certain conditions and applying a specific and adapted approach by marketers.

Keywords: LinkedIn, business, social networks, sales, market

JEL: F30

Language of full text: Bulgarian

Pages: 1025–1034

DOI: https://doi.org/10.37075/ISCYS.2026.1.094

Full text: ISCYS.2026.1.094.pdf

Към съдържанието

095. МЕСТНО ЖИЛИЩНО УПРАВЛЕНИЕ В ЕВРОПА: СОЦИАЛНАТА ЕФЕКТИВНОСТ НА ГЕРМАНСКИЯ МОДЕЛ В СРАВНЕНИЕ С БЪЛГАРСКАТА ПРАКТИКА

English title: LOCAL HOUSING GOVERNANCE IN EUROPE: THE SOCIAL EFFICIENCY OF THE GERMAN MODEL COMPARED TO BULGARIAN PRACTICE

Authors:

Nevena Bambova — PhD Student, Department of Real Estate, Business Faculty, UNWE, Sofia

Abstract: This article presents a comparative analysis of local housing governance models in Bulgaria and Germany, with a focus on the social efficiency of the German approach. The study examines the legal framework, organizational structure, financing mechanisms, and the degree of social engagement of municipal housing enterprises in both countries. The German model is marked by active municipal involvement, strong tenant protections, and a well-developed social housing sector, all contributing to social stability and inclusion. It also demonstrates an elevated level of professionalization, integrated public services, and sustainable support mechanisms for vulnerable groups. In contrast, the Bulgarian practice remains limited in scope and resources, with a less pronounced social function. Key challenges include a restricted public housing stock, fragmented governance, and insufficient policy coordination. Based on the analysis, the article offers concrete recommendations for adapting successful elements of the German model to the Bulgarian context. These include strengthening the role of municipalities, diversifying housing provision, and enhancing legal protections for tenants. The aim is to improve access to housing and promote social integration, contributing to broader goals of social cohesion and sustainable urban development. The study highlights the need for a strategic and integrated governance approach that addresses contemporary social and economic challenges.

Keywords: Local Housing Governance, Municipal Involvement, Social Effectiveness

JEL: R28, R31, H75, I38

Language of full text: Bulgarian

Pages: 1035–1043

DOI: https://doi.org/10.37075/ISCYS.2026.1.095

Full text: ISCYS.2026.1.095.pdf

Към съдържанието

096. ВЛИЯНИЕТО НА ПРЕДСТОЯЩОТО ЧЛЕНСТВО В ЕВРОЗОНАТА ВЪРХУ СТРАТЕГИИТЕ ЗА ПРЕДПРИЕМАЧЕСТВО В БЪЛГАРИЯ: ВЪЗМОЖНОСТИ И РИСКОВЕ ЗА МАЛКИ И СРЕДНИ ПРЕДПРИЯТИЯ

English title: THE IMPACT OF THE UPCOMING EUROZONE MEMBERSHIP ON ENTREPRENEURSHIP STRATEGIES IN BULGARIA: OPPORTUNITIES AND RISKS FOR SMES

Authors:

Stefan Doykin — PhD student, Department Entrepreneurship, Business Faculty, UNWE, Sofia

Abstract: In the context of accelerated European integration, Bulgaria’s upcoming membership of the euro area, scheduled for 1 January 2026, represents a key milestone in the country’s economic development. Following approval by the European Commission and the European Central Bank in June 2025, as well as the final legal acts of the EU Council in July of the same year, Bulgaria will move from a currency board of the lev to the full adoption of the euro as its official currency. This report presents and analyses the impact of Bulgaria’s upcoming membership of the euro area from 1 January 2026 on the entrepreneurial strategies of small and medium-sized enterprises (SMEs). SMEs, the main driver of the Bulgarian economy, will face opportunities such as reduced transaction costs, easier access to finance, increased investment and facilitated trade and supply chains. However, the euro requires adaptation to stricter fiscal and monetary rules of the European Central Bank (ECB), which poses challenges such as a potential loss of flexibility in responding to local economic shocks and transitional costs for digitalization and training. These changes will affect entrepreneurial strategies, emphasizing the need for a balance between exploiting new investment opportunities and managing the risks of inflationary pressures and reduced competitiveness. The research uses the basic principles of the systems approach and analysis. The research methods used are: logical analysis of existing concepts in the theory, related to the specifics of entrepreneurship in Bulgaria and Bulgaria's membership in the euro area; analysis and synthesis of data from the Bulgarian National Bank, the National Statistical Institute, Eurostat, quantitative data collected through a questionnaire survey with entrepreneurs and descriptive analysis of the main applied elements of Bulgarian business practices and their adaptation strategies.

Keywords: Eurozone, SMEs, Funds, Bulgaria, Entrepreneurship

JEL: L26, O30

Language of full text: Bulgarian

Pages: 1044–1055

DOI: https://doi.org/10.37075/ISCYS.2026.1.096

Full text: ISCYS.2026.1.096.pdf

Към съдържанието

097. МАРКЕТИНГОВО ПЛАНИРАНЕ НА МАЛКИ И СРЕДНИ ПРЕДПРИЯТИЯ В КОНТЕКСТА НА ПРИСЪЕДИНЯВАНЕТО НА БЪЛГАРИЯ КЪМ ЕВРОЗОНАТА

English title: MARKETING PLANNING OF SMALL AND MEDUIM-SIZED ENTERPRISES IN THE CONTEXT OF BULGARIA’S EUROZONE ACCESSION

Authors:

Gergana Todorova — PhD Student, Department of Industrial Business, Business Faculty, UNWE

Abstract: This report examines the impact of Bulgaria’s accession to the Eurozone on the marketing planning of small and medium-sized enterprises (SMEs). Marketing planning is viewed as a process of environmental analysis, goal formulation, channel selection, and resource allocation, in which the alignment between marketing and financial decisions is critical. For SMEs, this alignment is particularly important due to limited resources and the need for measurable results. Accession to the Eurozone changes the conditions for planning and evaluating digital campaigns. Key advantages include the elimination of currency risk, harmonization of prices and tariffs within the EU, easier access to international markets, and more accurate budgeting in a single currency. This improves KPI comparability, reduces transaction costs, and facilitates financial control. The transition also creates challenges for SMEs: costs related to system adjustments; the need to update digital advertising accounts and payment profiles or billing data; and efforts required to reconfigure BI and tracking systems. The Eurozone offers opportunities for greater transparency, predictability, and easier integration of financial and marketing planning, but the success of the transition depends on SMEs’ investments in digital skills, systems, and processes.

Keywords: marketing planning, small and medium-sized enterprises, euro, digital platforms, pricing

JEL: M31, M10, F14

Language of full text: Bulgarian

Pages: 1056–1064

DOI: https://doi.org/10.37075/ISCYS.2026.1.097

Full text: ISCYS.2026.1.097.pdf

Към съдържанието

098. СТРАТЕГИЧЕСКИ ПОДХОДИ ЗА УСТОЙЧИВО РАЗВИТИЕ НА ЗАСТРАХОВАТЕЛНИ БРОКЕРИ В БЪЛГАРИЯ В УСЛОВИЯТА НА ЕВРОПЕЙСКА КОНКУРЕНЦИЯ

English title: STRATEGIC APPROACHES FOR SUSTAINABLE DEVELOPMENT OF INSURANCE BROKERS IN BULGARIA UNDER EUROPEAN COMPETITION

Authors:

Antonio Vasilev — PhD Student, Department Management, Management and Administration Faculty, UNWE, Sofia

Abstract: The report examines the strategic approaches for the sustainable development of insurance brokers in Bulgaria under the conditions of European competition. The main objective is to analyse the dynamics of the sector between 2007 and 2024 and to assess the impact of EU membership on the brokers’ sustainability, competitiveness, and market integration. Using economic-statistical and comparative analysis based on data from the Financial Supervision Commission (FSC), EIOPA, and Insurance Europe, the study evaluates key indicators such as the number of brokers, the volume of mediated premiums, market share, and comparison with EU averages. The results confirm a steady growth and increasing adaptation of Bulgarian insurance brokers to the European regulatory and competitive framework. Strategic management, digitalisation, and professional capacity-building emerge as essential factors for strengthening the sustainability and integration of brokers within the European single market.

Keywords: insurance brokers, sustainable development, strategic management, European integration, competitiveness

JEL: G22, M21, L11

Language of full text: Bulgarian

Pages: 1065–1074

DOI: https://doi.org/10.37075/ISCYS.2026.1.098

Full text: ISCYS.2026.1.098.pdf

Към съдържанието

099. MULTINATIONAL SUBSIDIARIES AND THE BULGARIAN ECONOMY: AN EVALUATION OF FOREIGN SUBSIDIARIES’ FINANCIAL PERFORMANCE AND THEIR ECONOMIC CONTRIBUTIONS WITHIN EU FRAMEWORK

Authors:

Michaela Atanassova — PhD Student, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: This paper investigates the role of multinational corporations (MNCs) and their subsidiaries in the Bulgarian economy through an empirical analysis on firm specific level within the framework of European Union. Focusing on the period spanning Bulgaria’s EU accession in 2007 up to the present, the study employs firm-level data to assess how foreign-owned subsidiaries, particularly those with EU-based parent companies have contributed to Bulgaria’s economic development. Using financial statement analysis on the micro level, the analysis explores the subsidiary performance. The findings reveal differences in economic contributions between subsidiaries of EU and non-EU parents, highlighting the importance of EU market access in shaping investment decisions and productivity outcomes. This research paper provides insights into how multinationals facilitate the country’s integration into the European single market by attracting sustainable foreign investment and delivering economic impact in the country.

Keywords: EU, Bulgaria, Financial Statement, Multinational, Economy

JEL: G3

Language of full text: English

Pages: 1075–1083

DOI: https://doi.org/10.37075/ISCYS.2026.1.099

Full text: ISCYS.2026.1.099.pdf

Към съдържанието

100. THE PRICE ROUNDING EFFECT OF EURO ADOPTION IN BULGARIA

Authors:

Vasil Spasov — PhD Student, Department of Finance, Faculty of Finance and Accounting, University of National and World Economy (UNWE), Sofia

Abstract: This study examines the anticipated impact of price rounding following Bulgaria's adoption of the euro as its official currency on January 1, 2026. Using data from the National Statistical Institute (NSI) on household consumption patterns for 2024 and applying realistic, psychologically-based rounding scenarios based on the official exchange rate of 1.95583 BGN/EUR, the study quantifies the potential cumulative effect on household food expenditure. The analysis of 91 food product categories reveals a projected aggregate annual increase of 100.17 EUR per household due to rounding effects. The relationship between these rounding effects and the Harmonised Index of Consumer Prices (HICP) trends from 2015-2024 is further explored.

Keywords: Euro adoption, currency conversion, inflation

JEL: E21, E31, C83

Language of full text: English

Pages: 1084–1093

DOI: https://doi.org/10.37075/ISCYS.2026.1.100

Full text: ISCYS.2026.1.100.pdf

Към съдържанието

101. МОДЕЛ НА КОГНИТИВЕН РИСК (CRF) КАТО НОВА РАМКА ЗА РАЗБИРАНЕ НА ПАЗАРНОТО ПОВЕДЕНИЕ И ИНТЕЛЕКТУАЛНАТА НЕСТАБИЛНОСТ

English title: COGNITIVE RISK MODEL (CRF) AS A NEW FRAMEWORK FOR UNDERSTANDING MARKET BEHAVIOR AND INTELLECTUAL INSTABILITY

Authors:

Teodor Minchev — certified financial consultant (FSC), independent researcher, Infostock.BG

Abstract: This paper introduces the Cognitive Risk Function (CRF) – a conceptual framework that redefines financial risk as the volatility of understanding rather than the volatility of prices. The model quantifies how far perception diverges from objective market reality, using information-theoretic metrics such as the Kullback–Leibler divergence. Developed jointly with ALEX508, an experimental cognitive system for financial modeling, CRF is implemented through real-time analysis of sentiment embeddings, macro data, and behavioral indicators. Empirical results show that CRF can serve as a leading indicator of cognitive stress in market systems and a foundation for a new discipline – Cognitive Finance.

Keywords: Cognitive Risk, Behavioral Finance, Artificial Intelligence, Market Psychology, ALEX Cognitive System

JEL: G41, C63, D87

Language of full text: Bulgarian

Pages: 1094–1099

DOI: https://doi.org/10.37075/ISCYS.2026.1.101

Full text: ISCYS.2026.1.101.pdf

Към съдържанието

102. СЕКТОРЕН АНАЛИЗ НА ТЪРГОВИЯТА НА ДРЕБНО В БЪЛГАРИЯ: ФОКУС ВЪРХУ ПОДОТРАСЛИ С ХРАНИТЕЛНИ И НЕХРАНИТЕЛНИ СТОКИ

English title: SECTORAL ANALYSIS OF THE RETAIL TRADE IN BULGARIA: FOCUS ON FOOD AND NON-FOOD SUBSECTORS

Authors:

Valeri Konicheva — Master, BCRA – Credit Rating Agency, 101 Aleksandar Stamboliyski Blvd., Sofia Tower II, fl.5, office 3A, Sofia 1303

Abstract: This study presents a sectoral analysis of the retail trade in Bulgaria, focusing on two key subsectors: retail trade in non-specialized stores with a predominance of food products (NACE 4710) and specialized retail trade of non-food household and consumer goods (NACE 4750). The objective is to identify the structural differences, economic dynamics, financial sustainability, and market prospects of the two segments under the same macroeconomic conditions. The analysis includes an assessment of the market environment, competitive factors, margin structure, inventory turnover, capital intensity, and sensitivity to the economic cycle. Special attention is given to the impact of inflation, changes in consumer behaviour, digitalization, and the rise of e-commerce on pricing strategies, revenues, and profitability. The main risks and entry barriers are compared, including regulatory requirements, supplier bargaining power, ESG factors, and competitive pressure from international chains and online models. The study highlights that although both subsectors belong to the same industry, they respond differently to external shocks and follow distinct adaptation trajectories. The conclusions provide a basis for further research and support decision-making by investors, creditors, and management structures operating in the Bulgarian retail sector.

Keywords: Retail, Market, Concentration, Trends, Sectoral

JEL: L81

Language of full text: Bulgarian

Pages: 1100–1109

DOI: https://doi.org/10.37075/ISCYS.2026.1.102

Full text: ISCYS.2026.1.102.pdf

Към съдържанието

103. СПОРАЗУМЕНИЕТО ЗА ИКОНОМИЧЕСКО ПАРТНЬОРСТВО МЕЖДУ ЕВРОПЕЙСКИЯ СЪЮЗ И ЯПОНИЯ И ЕФЕКТЪТ ВЪРХУ ИКОНОМИЧЕСКИТЕ ОТНОШЕНИЯ БЪЛГАРИЯ - ЯПОНИЯ

English title: THE ECONOMIC PARTNERSHIP AGREEMENT BETWEEN THE EUROPEAN UNION AND JAPAN AND ITS EFFECT ON ECONOMIC RELATIONS BULGARIA - JAPAN

Authors:

Raytcho Diankov — MBA, MA Japanese studies, Sofia University “St. Kliment Ohridski”

Abstract: The political relations between Bulgaria and Japan are over 110 years old, and their economic ties are approaching a century-old anniversary. Bulgaria has a good partnership with Japan, both on the political and economic scene. Since 2007, when the country has become a member of the European Union (EU), there has been a visible growth in the Bulgarian export to Japan and Japanese export to Bulgaria. This paper is a study of the effect of our EU membership on bilateral trade with the Land of the Rising Sun through the prism of the Economic Partnership Agreement between the EU and Japan, signed in 2018 and in force since 2019. The two parties in this agreement have economic relationships worth about 200 billion euros in 2024 and it has been studied how Bulgaria has benefited from the advantages of the large economic union, of which it has been a member for 18 years.

Keywords: Economic Partnership Agreement, Bulgaria, Japan

JEL: N75, N45, O53, P45

Language of full text: Bulgarian

Pages: 1110–1120

DOI: https://doi.org/10.37075/ISCYS.2026.1.103

Full text: ISCYS.2026.1.103.pdf

Към съдържанието

104. ДИНАМИКА НА РИСКОВИЯ ВНОС В БЪЛГАРИЯ ПО ЕВРОПЕЙСКИЯ РЕГЛАМЕНТ ЗА ПРЕДОТВРАТЯВАНЕ НА ОБЕЗЛЕСЯВАНЕТО

English title: DYNAMICS OF RISK IMPORTS IN BULGARIA UNDER THE EUROPEAN DEFORESTATION REGULATION

Authors:

Konstantin Markov — bachelor, 3-rd year student, Faculty of Economics and Business Administration, Sofia University “St. Kl. Ohridski”, Sofia

Abstract: Thе paper examines the economic consequences and trade flows in Bulgaria in the context of Regulation (EU) 2023/1115 on deforestation-free products (EUDR). The study is based on data from Eurostat’s Comext database for the period 2002–2024, covering over 104,000 records for Bulgaria. The results show that the total value of imports of affected goods amounts to over 75.3 billion euros for the period under consideration, with 54% of this volume consisting of wood and its derivatives. The analysis highlights the significant administrative burden that lies ahead for Bulgarian businesses. The study is motivated by the fact that there are numerous scholarly publications analyzing the positions of other countries, but not Bulgaria.

Keywords: deforestation, wood, supply chain, European Deforestation Regulation, Bulgaria

JEL: F14, Q56

Language of full text: Bulgarian

Pages: 1121–1130

DOI: https://doi.org/10.37075/ISCYS.2026.1.104

Full text: ISCYS.2026.1.104.pdf

Към съдържанието

105. УКРАИНСКОТО ПРЕДПРИЕМАЧЕСТВО В БЪЛГАРИЯ В ПЕРИОДА 2020-2025

English title: UKRANIAN ENTREPRENEURSHIP IN BULGARIA IN THE PERIOD 2020-2025

Authors:

Olha Leonova — student in the MBA program, Human Resource Management track, Faculty of Economics and Business Administration, Sofia University "St. Kliment Ohridski", Sofia

Abstract: Immigrant entrepreneurship has been the subject of academic research for decades, but the last two wars — in Syria and Ukraine—provide an opportunity for a so-called "natural experiment" to analyze how refugees choose entrepreneurship as a strategy for coping in a foreign country. The escalation of the military conflict in Ukraine after February 2022 resulted in nearly 6 million refugees (according to UN data) in various countries. The escalation of the military conflict in Ukraine after February 2022 resulted in nearly 6 million refugees (according to UN data) in various countries. There are about one million refugees in Poland, who have founded just under 100,000 businesses. Gavel and Marcinkowski (2025) examine the processes of economic integration and formalization of entrepreneurship among Ukrainian immigrants. Bulgaria has also seen significant growth in new companies registered by Ukrainians. In the first year of the war, there were more than three times as many companies as in 2021, and in the first nine months, there were already 6.5 times as many companies. New Ukrainian companies are now in first place compared to other foreign companies, overtaking traditional entrepreneurs from Turkey, Greece, and Italy.

Keywords: Immigrant entrepreneurship, regional differences.

JEL: L26, F22, F23

Language of full text: Bulgarian

Pages: 1131–1142

DOI: https://doi.org/10.37075/ISCYS.2026.1.105

Full text: ISCYS.2026.1.105.pdf

Към съдържанието

106. ИНСТИТУЦИОНАЛНО ПАТЕНТНО ЗАЯВИТЕЛСТВО ОТ АКАДЕМИЧНИТЕ ИНСТИТУЦИИ В БЪЛГАРИЯ 1990-2025

English title: INSTITUTIONAL PATENT APPLICATION FROM ACADEMIC INSTITUTIONS IN BULGARIA 1990 – 2025

Authors:

Nadya Denkova — student in Master program Intellectual Property and Technology Transfer, Faculty of Economics and Business Administration, Sofia University ‘St. Kliment Ohridski’, Sofia

Abstract: The paper presents an analysis of institutional patent applications from Bulgarian academic institutions—universities and institutes of the Bulgarian Academy of Sciences—for the period 1990–2025. Out of 15,066 patent applications filed in Bulgaria during the period under review, academic institutions have filed only 871 applications, which is less than 10% of all applications. Of the 871 applications filed, academic institutions have 160 active patents (18.48%), with the main reason for the low number of active patents being non-payment of annual fees rather than rejection by the Patent Office. The academic institutions with the highest number of applicants are the institutes of the Bulgarian Academy of Sciences, specifically the Institute of Robotics (148 applications, 48 patents) and the Institute of Solid State Physics (50 applications, 28 patents). Among the universities, the Technical University of Sofia has the largest number of valid patents and patent applications (22 patents out of 114 applications). The trends outlined are based on various political and economic factors, such as changes in the structures of academic institutions in the 1990s, limited funding for research in Bulgaria, institutional focus on publications rather than patent activity, etc.

Keywords: patents, patent applications, academic institutions, technology transfer

JEL: K00

Language of full text: Bulgarian

Pages: 1143–1151

DOI: https://doi.org/10.37075/ISCYS.2026.1.106

Full text: ISCYS.2026.1.106.pdf

Към съдържанието

107. ОТ ЛЮБОПИТСТВО КЪМ КОНКУРЕНТНО ПРЕДИМСТВО: НАГЛАСИ И ПРАКТИКИ ЗА ИЗПОЛЗВАНЕ НА ИЗКУСТВЕН ИНТЕЛЕКТ В БЪЛГАРСКИТЕ ПРЕДПРИЯТИЯ

English title: FROM CURIOSITY TO COMPETITIVE ADVANTAGE: AI ATTITUDES AND PRACTICES IN BULGARIAN FIRMS

Authors:

Deyan Yalamov — Student in Business Administration, Faculty of Economics and Business Administration, Sofia University “St. Kliment Ohirdski”, Sofia

Abstract: After the release of ChatGPT in 2022, artificial intelligence came to dominate discussions about the future of jobs, the role of universities, and the competitiveness of virtually every business. A review of academic studies and media-described cases (awards, case studies, interviews) supports the argument that before the mass emergence of large language models, companies tended to adopt AI solutions for rational reasons—seeking optimization, higher efficiency, and improved competitiveness—whereas afterwards curiosity and experimentation appear to be more stronger motives than before.

Keywords: artificial intelligence, machine learning, curiosity, experimentation

JEL: M15, M21

Language of full text: Bulgarian

Pages: 1152–1161

DOI: https://doi.org/10.37075/ISCYS.2026.1.107

Full text: ISCYS.2026.1.107.pdf

Към съдържанието

108. ВЪЗДЕЙСТВИЕТО НА РЕГУЛАТОРНАТА РАМКА БАЗЕЛ III ВЪРХУ СТАБИЛНОСТТА НА БАНКОВАТА СИСТЕМА В БЪЛГАРИЯ: АНАЛИЗ НА БАНКА ДСК АД

English title: THE IMPACT OF BASEL III ON FINANCIAL STABILITY IN BULGARIA’S BANKING SECTOR: A FINANCIAL ANALYSIS OF DSK BANK AD

Authors:

Ivana Naydenova — Student, Bachelor`s Degree, Specialty “Finance”, UNWE, Sofia
Petko Stoev — PhD, Institute of Information and Communication Technologies (IICT-BAS)

Abstract: The stability of the banking system is largely dependent on the Basel III regulatory framework's implementation both internationally and in Bulgaria. Using DSK Bank AD, one of the biggest banks in Bulgaria, as an example, this report aims to investigate the effects of the Basel III regulatory framework on the stability of the country's banking system. The main elements of the Basel III Accords are reviewed in the report, along with the reforms and steps the Bulgarian National Bank (BNB) has taken to implement them. Using DSK Bank AD as an example, it also looks at how Basel III has affected lending and public confidence in the banking system.

Keywords: Basel III, bank, risk, resilience, DSK Bank AD

JEL: G28

Language of full text: Bulgarian

Pages: 1162–1178

DOI: https://doi.org/10.37075/ISCYS.2026.1.108

Full text: ISCYS.2026.1.108.pdf

Към съдържанието

109. РОЛЯТА НА ДИГИТАЛНИТЕ ФИНАНСИ В РАЗВИТИЕТО НА ПРЕДПРИЕМАЧЕСКИЯ ПОТЕНЦИАЛ НА МЛАДИТЕ В БЪЛГАРИЯ

English title: THE ROLE OF DIGITAL FINANCE IN THE DEVELOPMENT OF THE ENTREPRENEURIAL POTENTIAL OF YOUTH IN BULGARIA

Authors:

Viktoria Zarkova — student, Bachelor’s degree, Specialty “Marketing”, Distant learning, UNWE, Sofia

Abstract: The world is undergoing a digital evolution in which technology is increasingly replacing human labor, and finance is becoming digital and virtual. Despite the widespread use of digital finance and fintech technologies, many people are still unaware that this represents the new normal of the future. Digital finance refers to the use of digital technologies in financial activities. It is utilized daily through online banking, contactless payments, digital wallets, and cryptocurrencies. Its main advantages include greater accessibility, cost-effectiveness, and efficiency. This study focuses on digital finance as a perspective for developing the entrepreneurial potential of young people in Bulgaria. The thesis states that the relatively high level of digital literacy among young people in Bulgaria, combined with the rapidly growing fintech sector, provides a solid foundation for encouraging youth entrepreneurship. This highlights the need for comprehensive and coordinated measures. The aim of the research is to determine the extent to which digital finance is accessible and facilitates business creation for young people in the country. To achieve this aim, the study sets out the following objectives: 1. To present the advantages and disadvantages of digital finance. 2. To examine its use in Bulgaria, Greece, Turkey, Serbia, and Romania. 3. To assess its application as a tool for entrepreneurship and innovation among young people in Bulgaria.

Keywords: digital finance, fintech, entrepreneurial potential, Bulgaria

JEL: G20, O31, M13

Language of full text: Bulgarian

Pages: 1179–1201

DOI: https://doi.org/10.37075/ISCYS.2026.1.109

Full text: ISCYS.2026.1.109.pdf

Към съдържанието

110. ДЕКЛАРИРАНЕ НА АВТОРСТВО И ВРЕМЕВО УДОСТОВЕРЯВАНЕ: eIDAS/ETSI СЪВМЕСТИМ ИНЖЕНЕРEН МОДЕЛ НА СЕРТИФИКАТА STAMPR

English title: DECLARATION OF AUTHORSHIP AND TIME VERIFICATION: AN ЕIDAS/ETSI COMPLIANT ENGINEERING MODEL OF THE STAMPR CERTIFICATE

Authors:

Boyan Georgiev — student, "Technological School of Electronic Systems, Sofia

Abstract: The report presents a model for declarative disclosure of authorship and time attestation of digital works using a qualified electronic time stamp. It is shown how the cryptographic fingerprint (SHA-256) enables unambiguous identification of a digital original without storing its content, while the RFC 3161 time stamp issued by a Qualified Trust Service Provider (QTSP), in accordance with eIDAS and ETSI EN 319 421/422, provides a verifiable moment of existence and integrity. The engineering implementation within the StampR platform is described: local hashing, a request to the TSA, receipt of the Time-Stamp Token (TST), and generation of a PDF certificate with public verification instructions. The approach is compared to traditional offline practices across dimensions such as accessibility, time-to-result, cost, cross-border applicability, and privacy. It is shown how the model reduces transaction costs for rights protection and accelerates the path from idea to market for authors, ICT teams, and SMEs. The legal framework and TST validation are also examined.

Keywords: qualified electronic time stamp; eIDAS; RFC 3161; intellectual property; authorship verification

JEL: O34, K24, L86

Language of full text: Bulgarian

Pages: 1202–1213

DOI: https://doi.org/10.37075/ISCYS.2026.1.110

Full text: ISCYS.2026.1.110.pdf

Към съдържанието

111. WHISTLEBLOWING КАТО АНТИКОРУПЦИОНЕН МЕХАНИЗЪМ В БАНКОВИЯ СЕКТОР

English title: WHISTLEBLOWING AS AN ANTI-CORRUPTION MECHANISM IN THE BANKING SECTOR

Authors:

Inna Mincheva — PhD student, Department,Financial Control“, Finance and Accounting Faculty, UNWE, Sofia

Abstract: This paper examines whistleblowing mechanisms as a key component of anti-corruption control in the banking sector. The analysis focuses on the role of reporting systems in preventing and enabling the early detection of corrupt practices within an environment characterized by high regulatory complexity, significant operational discretion, and substantial reputational risk. The main objective of the study is to assess the practical effectiveness of whistleblowing systems and to identify the factors that influence employees’ willingness to report detected or suspected irregularities. The research is based on an empirical approach that combines quantitative and qualitative methods. A structured survey was conducted among banking sector employees performing functions related to internal control, compliance, internal audit, and risk management. In addition, expert interviews were carried out with representatives of control and supervisory units within banking institutions. The analysis examines the level of employee awareness of reporting procedures, the degree of trust in whistleblowing mechanisms, the perceived level of protection for reporting persons, and the impact of organizational culture on reporting behavior. The findings indicate that although whistleblowing mechanisms are formally established in most banking institutions, their practical use remains limited. A higher willingness to report irregularities is observed in organizations where procedures are clearly defined, protective measures for reporting persons are effectively implemented, and managerial support is visible and consistent. Conversely, fear of negative consequences, insufficient employee awareness, and the formalistic application of internal rules represent major barriers to the effective functioning of whistleblowing systems. The conclusions emphasize that whistleblowing mechanisms should be regarded as a preventive anti-corruption tool whose effectiveness depends on their integration into a broader organizational and governance framework. Such a framework should be based on clear internal rules, reliable safeguards for confidentiality and protection, and an organizational culture that actively promotes integrity, transparency, and trust within the banking sector.

Keywords: whistleblowing; anti-corruption control; banking sector; corruption risk; internal control

JEL: G21, G28, K42, D73

Language of full text: Bulgarian

Pages: 1214–1222

DOI: https://doi.org/10.37075/ISCYS.2026.1.111

Full text: ISCYS.2026.1.111.pdf

Към съдържанието

112. ИНФОРМАЦИОННИТЕ ТЕХНОЛОГИИ (ИТ) В КОНТРОЛА НА ОБЩЕСТВЕНИТЕ ПОРЪЧКИ В РЕПУБЛИКА СЪРБИЯ

English title: INFORMATION TECHNOLOGIES (IT) IN THE CONTROL OF PUBLIC PROCUREMENT IN THE REPUBLIC OF SERBIA

Authors:

Darko Anachkov — PhD student, Department,Financial Control“, Faculty,Finance and Accounting“, UNWE, Sofia

Abstract: The report analyzes the application of information technologies (IT) in the control of public procurement in the Republic of Serbia. The focus is on the ways in which IT supports monitoring, transparency, data access, and institutional coordination. The analysis includes five key indicators: IT efficiency, the use of digital tools, technological innovations, data accessibility, and contract monitoring. Graphic representations illustrating the level of IT development within the control system are presented. The results reveal stable progress in basic digital processes, but insufficient adoption of innovations and analytical technologies. Recommendations are formulated for improvements related to digital infrastructure, automation, and the broader integration of IT within Serbia’s control authorities.

Keywords: information technologies, control, public procurement, digitalization, innovations

JEL: H57, O33

Language of full text: Bulgarian

Pages: 1223–1232

DOI: https://doi.org/10.37075/ISCYS.2026.1.112

Full text: ISCYS.2026.1.112.pdf

Към съдържанието

Редакционна политика и политика по рецензиране

УНСС — Sat, 25 Jul 2026 23:47:08 GMT

Редакционната политика за публикуване на научни доклади в сборника с доклади от ДВАДЕСЕТАТА МЕЖДУНАРОДНА НАУЧНА КОНФЕРЕНЦИЯ НА МЛАДИТЕ УЧЕНИ „ИКОНОМИКАТА НА БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ: 20 ГОДИНИ ОТ ПОДПИСВАНЕТО НА ДОГОВОРА ЗА ПРИСЪЕДИНЯВАНЕ НА РЕПУБЛИКА БЪЛГАРИЯ КЪМ ЕВРОПЕЙСКИЯ СЪЮЗ И ЧЛЕНСТВО В ЕВРОЗОНАТА ОТ 1.01.2026“ отразяват принципите, заложени в „Кодекса за поведение, насоки и добри практики на Редакторите на издания“ (COPE) и във вътрешнонормативните документи на УНСС. Правилата регламентират стандартите за етично поведение на всички участници в процеса на публикуване: автори, редактори, рецензенти и Университета за национално и световно стопанство като издател.

Редакционната политика определя принципите, правилата и процедурите за приемане, рецензиране, редактиране и публикуване на научни доклади в сборника с доклади от ДВАДЕСЕТАТА МЕЖДУНАРОДНА НАУЧНА КОНФЕРЕНЦИЯ НА МЛАДИТЕ УЧЕНИ „ИКОНОМИКАТА НА БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ: 20 ГОДИНИ ОТ ПОДПИСВАНЕТО НА ДОГОВОРА ЗА ПРИСЪЕДИНЯВАНЕ НА РЕПУБЛИКА БЪЛГАРИЯ КЪМ ЕВРОПЕЙСКИЯ СЪЮЗ И ЧЛЕНСТВО В ЕВРОЗОНАТА ОТ 1.01.2026“.

Редакционната политика има за цел да гарантира:

високо научно качество;
академична почтеност;
прозрачност на редакционния процес;
равнопоставеност на всички автори;
независимост на редакционните решения;
съответствие с международните стандарти за научно публикуване.

Редакционният процес се основава на принципите на научната етика, обективността, безпристрастността и конфиденциалността.

Изданието предоставя свободен достъп до публикуваните научни материали с цел максимално разпространение и използване на научното знание.

Редакционният екип осъществява дейността си при спазване на следните принципи:

Научна независимост

Редакционните решения се основават единствено на научната стойност на представените ръкописи.

Политически, институционални, финансови, религиозни или лични съображения не влияят върху процеса на оценяване.

Академична почтеност

Всички участници в публикационния процес спазват принципите на академичната етика.

Не се допуска:

плагиатство;
самоплагиатство;
манипулиране на данни;
фабрикуване на резултати;
подвеждащо авторство.

Безпристрастност

Всички ръкописи се разглеждат без дискриминация по отношение на:

националност;
пол;
възраст;
институционална принадлежност;
религия;
политически възгледи;
етническа принадлежност.

Редакционна независимост

Редакторите вземат решения независимо от:

организаторите на конференцията;
финансиращите организации;
работодателите на авторите;
спонсори;
външни заинтересовани страни.

Редакторът носи пълна отговорност за окончателното решение относно публикуването.

Научното съдържание се определя от академични критерии, а не от институционален, финансов или организационен натиск.

Съдържанието на сборника е изградено на принципите на:

независимост на редакционните решения;
разделяне между организаторска и редакционна дейност;
защита на редакторите от външно влияние;
критерии за приемане, основани единствено на научно качество.

Конфиденциалност

Всички материали се разглеждат като поверителни.

Редакторите:

не предоставят информация относно ръкописите;
не разкриват самоличността на рецензентите;
използват информацията единствено за редакционни цели.

Прозрачност

Редакционният процес е публично описан.

На интернет страницата на конференцията се публикуват:

редакционната политика;
политиката за рецензиране;
публикационната етика;
изискванията към авторите;
политиката срещу плагиатството;
процедурите за корекции и оттегляне.

ОТГОВОРНОСТИ НА РЕДАКЦИОННИЯ ЕКИП

Главният редактор:

организира редакционния процес;
назначава рецензенти;
следи за качеството;
взема окончателните решения;
гарантира спазването на етичните стандарти.

Редакторският екип:

подпомага редактора;
предлага рецензенти;
оценява политиката за рецензиране;
участва с предложения за промени в редакторската политика.

КРИТЕРИИ ЗА ПРИЕМАНЕ НА ДОКЛАДИ

До публикуване се допускат само ръкописи, които:

съдържат оригинално научно изследване;
не са публикувани преди това;
не се разглеждат едновременно от друго издание;
отговарят на тематичния обхват;
съдържат ясно описание на използваната методология;
включват научно обосновани резултати;
съдържат актуални литературни източници;
преминали са успешно процедурата по двойно анонимно рецензиране.

РЕДАКЦИОНЕН ПРОЦЕС

Редакционният процес включва следните етапи:

Изпращане на доклада.
Проверка за спазване на техническите изисквания.
Проверка за плагиатство.
Назначаване на двама независими рецензенти.
Получаване на рецензии.
Отразяване на корекции (ако е необходимо).
Повторно рецензиране.
Окончателно решение.
Езикова редакция.
Предпечатна подготовка.
Публикуване.

Редакторският екип съхранява:

ръкописите/докладите;
рецензиите;
декларациите;
кореспонденцията;
редакционните решения.

Документите се пазят минимум пет години след публикуването.

Авторите се насърчават да предоставят достъп до използваните изследователски данни, когато това е възможно и не нарушава етични или правни ограничения.

ПОЛИТИКА ЗА РЕЦЕНЗИРАНЕ

(PEER REVIEW POLICY)

Политиката за рецензиране има за цел да гарантира високото научно качество, оригиналността и академичната стойност на публикациите, включени в сборника на конференцията.

Процесът на рецензиране е независим, безпристрастен, прозрачен и се основава на международно признати стандарти за научно публикуване.

Всички постъпили ръкописи преминават през двойно анонимно рецензиране (Double-Blind Peer Review).

При този модел:

авторите не знаят кои са рецензентите;
рецензентите не знаят самоличността на авторите;
редакторите гарантират анонимността през целия процес.

Този модел намалява риска от пристрастност и осигурява обективна оценка.

ЕТАПИ НА ПРОЦЕСА НА РЕЦЕНЗИРАНЕ

Етап 1. Подаване на ръкопис

Авторът подава доклада си на официалния електронен адрес на конференцията – mladiucheniconf@unwe.bg.

Редакторският екип проверява:

съответствие с тематичния обхват;
спазване на техническите изисквания;
наличие на всички необходими декларации.

Етап 2. Проверка за плагиатство

Всеки ръкопис се проверява със специализиран софтуер – Strike Plagiarism.

При установяване над допустимите проценти на:

плагиатство;
самоплагиатство;
манипулирани изображения;
фабрикувани данни,

докладът се отхвърля незабавно.

Етап 3. Назначаване на рецензенти

Главният редактор определя двама независими рецензенти, които:

притежават научна компетентност по темата;
нямат конфликт на интереси;
не принадлежат към същата институция като автора (когато е възможно).

При противоречиви рецензии може да бъде назначен трети рецензент.

Етап 4. Независима оценка

Всеки рецензент извършва самостоятелна оценка, без контакт с автора или другия рецензент.

Етап 5. Редакционно решение

Възможни решения:

Приема се без корекции.
Приема се след малки корекции.
Приема се след съществени корекции.
Необходимо е повторно рецензиране.
Отхвърля се.

Окончателното решение се взема от главния редактор.

КРИТЕРИИ ЗА ОЦЕНКА

Рецензентите оценяват:

1. Научна оригиналност

Изследването трябва да предлага нов научен принос.

2. Актуалност

Темата следва да бъде значима за развитието на икономическата наука.

3. Методология

Използваните методи трябва да бъдат:

адекватни;
надеждни;
ясно описани;
възпроизводими.

4. Анализ

Резултатите трябва да бъдат:

логически анализирани;
статистически обосновани (когато е приложимо);
подкрепени с научни аргументи.

5. Заключения

Заключенията трябва да произтичат от представените резултати.

6. Литература

Библиографията следва да:

бъде актуална;
включва международни източници;
съдържа научни публикации от последните години.

Рецензентите попълват оценките по посочените показатели във Формуляр за рецензия.

ЕТИЧНИ ИЗИСКВАНИЯ КЪМ РЕЦЕНЗЕНТИТЕ

Рецензентите са длъжни:

да пазят поверителността;
да оценяват безпристрастно;
да декларират конфликт на интереси;
да отказват рецензия при липса на компетентност;
да сигнализират при съмнения за нарушения на академичната етика.

СРОКОВЕ

Ориентировъчните срокове за взимане на решение за публикуване са следните:

Първоначална проверка – до 7 дни.

Изготвяне на рецензия – до 21 дни.

Корекции от автора – до 14 дни.

Повторна оценка – до 14 дни.

Окончателно решение – до 7 дни.

КОНФИДЕНЦИАЛНОСТ

Рецензентите не могат:

да използват информация от ръкописа;
да копират части от него;
да разпространяват съдържанието;
да обсъждат ръкописа с трети лица.

КОНФЛИКТ НА ИНТЕРЕСИ

Рецензентът не може да приеме да е рецензент, ако:

е съавтор с автора през последните години;
работи в същата институция;
има финансов интерес;
съществуват лични отношения, които могат да повлияят на оценката.

ПОВТОРНО РЕЦЕНЗИРАНЕ

При съществени корекции докладът се изпраща отново на същите рецензенти.

ПОЛИТИКА ЗА ИЗБОР НА РЕЦЕНЗЕНТИ

Критерии за избор:

научна степен;
публикационна активност;
експертиза в областта;
независимост;
международен опит.

ПОЛИТИКА ПО ПУБЛИКАЦИОННА ЕТИКА

(PUBLICATION ETHICS POLICY)

Настоящата политика определя етичните принципи и стандарти, които се прилагат при публикуването на научните трудове в сборника на конференцията.

Редакционният екип се ръководи от международно признатите принципи за научна почтеност, прозрачност, обективност и професионална отговорност.

Всички участници в процеса на научно публикуване – автори, редактори и рецензенти – са длъжни да спазват настоящата политика.

Редакционната дейност се основава на следните принципи:

академична почтеност;
научна обективност;
независимост на редакционните решения;
прозрачност;
поверителност;
равнопоставеност;
недопускане на дискриминация;
отговорност към научната общност.

ОТГОВОРНОСТИ НА АВТОРИТЕ

Авторите декларират, че:

представената статия е оригинално научно изследване;
ръкописът не е публикуван другаде;
докладът не се разглежда едновременно от друго издание;
всички съавтори са дали съгласие за публикуване;
използваните източници са коректно цитирани;
данните не са манипулирани, фабрикувани или фалшифицирани.

Авторите носят пълна отговорност за съдържанието на публикацията.

АВТОРСТВО

За автор се счита лице, което има съществен принос към:

разработването на идеята;
събирането или анализа на данни;
написването или редактирането на ръкописа;
одобряването на окончателната версия.

Не се допуска:

фиктивно авторство;
подарено авторство;
скрито авторство.

ПЛАГИАТСТВО

Конференцията прилага политика на нулева толерантност към:

плагиатство;
самоплагиатство;
неправомерно използване на чужди идеи;
неправомерно използване на изображения, таблици или фигури;
манипулиране на резултати.

Всички ръкописи преминават проверка със специализиран софтуер – Strike Plagiarism.

При установяване на нарушение редакцията може:

да отхвърли ръкописа;
да уведоми автора;
при необходимост да информира съответната институция.

Политиката срещу плагиатството (Plagiarism Policy) има за цел да гарантира академичната почтеност, оригиналността и надеждността на публикуваните научни материали. Изданието не допуска публикуване на текстове, които представляват плагиатство, неправомерно присвояване на научни идеи, данни, резултати, формулировки или други интелектуални продукти на други автори.

Политиката се прилага към всички подадени за публикуване материали, включително:

научни доклади;
обзорни публикации;
теоретични разработки;
методологични изследвания;
кратки научни съобщения;
рецензии и други редакционни материали.

За плагиатство се считат:

използване на чужд текст, идеи, концепции, данни или резултати без подходящо цитиране;
копиране на значителни части от публикации на други автори;
самоплагиатство чрез повторно публикуване на съществени части от собствен предходен труд без ясно посочване;
дублиращо публикуване на едни и същи научни резултати в различни издания;
представяне на чужда научна работа като собствен принос;
манипулиране на цитиранията с цел изкуствено повишаване на научното влияние.

Всички подадени ръкописи подлежат на проверка за оригиналност преди започване на рецензионната процедура.

Редакцията използва подходящи специализирани системи за установяване на сходства между текстове и налични научни публикации.

Резултатите от проверката се оценяват от главния редактор или от определен член на редакционния съвет.

При установяване на плагиатство редакцията може да предприеме следните действия:

отказ за разглеждане на ръкописа;
прекратяване на рецензионната процедура;
отхвърляне на статията;
публикуване на корекция или оттегляне на вече публикуван материал;
уведомяване на институцията, към която принадлежи авторът, когато е необходимо.

Авторите носят пълна отговорност за оригиналността на представените материали и гарантират, че:

всички използвани източници са коректно цитирани;
приносите на други изследователи са ясно обозначени;
представеният текст не нарушава авторски права:
Изкуственият интелект не може да бъде посочван като автор.

ПОЛИТИКА ЗА КОНФЛИКТ НА ИНТЕРЕСИ (Conflict of Interest Policy)

Изданието се стреми да гарантира независимост, прозрачност и безпристрастност във всички етапи на редакционния процес.

Всички лица, участващи в подготовката, оценяването и публикуването на научни материали, следва да декларират потенциални конфликти на интереси.

Авторите са длъжни да декларират всички потенциални конфликти на интереси, включително:

финансови отношения;
институционални зависимости;
професионални или лични взаимоотношения;
други обстоятелства, които могат да повлияят върху интерпретацията на резултатите.

При наличие на конфликт той трябва да бъде ясно деклариран в ръкописа.

Редакторите и рецензентите също декларират конфликт на интереси и при необходимост се отстраняват от съответната процедура.

Редакторите не участват в оценяването на ръкописи, когато:

имат лична или професионална връзка с авторите;
са участвали в изследването;
имат финансов интерес от публикуването или отхвърлянето на материала.

Рецензентите трябва да отказват оценяване, когато:

познават авторите лично и това може да повлияе на независимата оценка;
работят в същата организация;
имат конкурентен, финансов или друг интерес.

ОТГОВОРНОСТИ НА РЕДАКТОРИТЕ

Редакторите:

оценяват ръкописите единствено по научни критерии;
гарантират безпристрастност;
осигуряват конфиденциалност;
предотвратяват конфликт на интереси;
следят за спазване на етичните стандарти.

ОТГОВОРНОСТИ НА РЕЦЕНЗЕНТИТЕ

Рецензентите:

извършват независима оценка;
спазват конфиденциалност;
дават аргументирани препоръки;
уведомяват редактора при съмнения за нарушения на академичната етика;
не използват информацията от ръкописа за лични цели.

КОРЕКЦИИ И ОТТЕГЛЯНЕ

При установяване на сериозни грешки след публикуване редакцията може да:

публикува корекция;
публикува редакционна бележка;
временно спре достъпа;
оттегли публикацията.

Причините могат да бъдат:

доказано плагиатство;
фабрикувани данни;
сериозни методологични грешки;
нарушения на публикационната етика.

ПРОЦЕДУРА ПРИ СЪМНЕНИЕ ЗА НАРУШЕНИЕ

Редакцията:

регистрира сигнала;
извършва предварителна проверка;
изисква становище от автора;
анализира доказателствата;
взема мотивирано решение.

При необходимост се уведомяват съответните институции.

СЪХРАНЕНИЕ НА ДОКУМЕНТАЦИЯТА

Всички документи, свързани с публикационния процес, се съхраняват при спазване на приложимото законодателство и вътрешните правила на организатора на конференцията.

ПОЛИТИКА ЗА ИЗПОЛЗВАНЕ НА ИЗКУСТВЕН ИНТЕЛЕКТ

(Artificial Intelligence Policy)

Не се допуска:

генериране на научни резултати без човешки контрол;
представяне на AI-генериран текст като изцяло авторски принос;
използване на AI за създаване на фиктивни източници;
манипулиране на изображения, данни или резултати.

Авторите трябва да посочат използването на AI инструменти, когато това има съществено значение за подготовката на ръкописа.

Декларацията следва да включва:

използвания инструмент;
целта на използването;
степента на участие.

НАСОКИ ЗА РЕДАКТОРИТЕ

(Editorial Guidelines)

Редакторите носят отговорност за:

научното качество на изданието;
прозрачността на редакционния процес;
равнопоставеното отношение към всички автори;
спазването на етичните стандарти.

Редакторските решения трябва да се основават единствено на научната стойност на ръкописа.

Редакторите не могат да:

вземат решения въз основа на лични отношения;
предпочитат автори поради институционална принадлежност;
допускат политически, финансови или други външни влияния.

Редакторите гарантират поверителност относно:

подадените ръкописи;
имената на рецензентите;
комуникацията с авторите;
съдържанието на експертните оценки.

Редакторите предприемат действия при:

подозрения за плагиатство;
манипулиране на данни;
фалшифициране на авторство;
неетично поведение.

При необходимост се следват процедурите на международните организации за публикационна етика.

НАСОКИ ЗА РЕЦЕНЗЕНТИТЕ

(Reviewer Guidelines)

Рецензирането има за цел да подпомогне редакционното решение и да подобри качеството на научните публикации.

Рецензентите оценяват:

научната оригиналност;
методологичната коректност;
значимостта на резултатите;
яснотата на изложението;
съответствието с тематичния профил на изданието.

Рецензентът трябва:

да предоставя обективна оценка;
да избягва лични критики към автора;
да посочва конкретни аргументи;
да декларира потенциален конфликт на интереси.

Ръкописите се разглеждат като поверителни документи.

Рецензентите нямат право:

да споделят ръкописа;
да използват непубликувана информация;
да обсъждат материала извън редакционната процедура.

Рецензентът следва да оцени:

актуалност на темата;
принос към научната област;
качество на методологията;
коректност на анализа;
адекватност на заключенията;
качество на библиографията.

ПОЛИТИКА ЗА КОРЕКЦИИ И ОТТЕГЛЯНЕ

(Corrections, Retractions and Expressions of Concern Policy)

Корекция (Correction)

Допуска се подадените от авторите доклади да бъдат коригирани от тях при:

технически грешки;
пропуски;
неточности, които не променят основните резултати.

Оттегляне (Retraction)

Прилага се при:

доказано плагиатство;
фалшифицирани данни;
сериозни методологични нарушения;
дублиращо публикуване.

Изразяване на загриженост (Expression of Concern)

Използва се когато:

има сериозно съмнение относно публикация;
разследването все още не е приключило.

Процедура за жалби и обжалване

1. Общи принципи

Организационният комитет на конференцията осигурява прозрачна, справедлива и безпристрастна процедура за разглеждане на жалби, свързани с редакционните решения и процеса на рецензиране. Всички жалби се разглеждат при спазване на принципите на академичната етика, конфиденциалността, независимостта на оценяването и отсъствието на конфликт на интереси, в съответствие с добрите практики на COPE.

2. Право на обжалване

Авторът има право да подаде мотивирана жалба, когато счита, че:

са допуснати съществени процедурни нарушения при рецензирането;
е налице доказуем конфликт на интереси;
решението се основава на фактически грешки или неправилно тълкуване на съдържанието на ръкописа;
са нарушени принципите на обективност, безпристрастност или академична етика.

Жалби, основани единствено на несъгласие с научната преценка на рецензентите, без представяне на обосновани аргументи, не се разглеждат.

3. Подаване на жалба

Жалбата се подава по електронен път до Председателя на Организационния комитет в срок до 7 календарни дни от получаване на уведомлението за редакционното решение.

Жалбата трябва да съдържа:

идентификационен номер и заглавие на доклада;
конкретно описание на основанията за обжалване;
доказателства или аргументи в подкрепа на жалбата;
декларация, че изложената информация е вярна и пълна.

4. Разглеждане на жалбата

Жалбите се разглеждат от Комисия по жалбите и академична етика, назначена от Организационния комитет.

Членовете на комисията:

не могат да бъдат участвали в първоначалното редакционно решение или рецензиране;
са длъжни да декларират липса на конфликт на интереси;
разглеждат всички материали при условия на пълна конфиденциалност.

При необходимост комисията може:

да поиска становища от първоначалните рецензенти;
да възложи независимо допълнително рецензиране на един или повече външни експерти;
да изиска допълнителна информация от автора.

5. Срокове

Комисията потвърждава получаването на жалбата в срок до 5 работни дни.

Окончателното решение се взема в срок до 20 календарни дни от постъпването на жалбата. При необходимост от допълнително независимо рецензиране срокът може да бъде удължен, като авторът се уведомява своевременно.

6. Възможни решения

След приключване на разглеждането Комисията може да постанови:

потвърждаване на първоначалното редакционно решение;
повторно рецензиране от независими рецензенти;
изменение на първоначалното решение и приемане на доклада;
прекратяване на процедурата, когато жалбата е недопустима или необоснована.

Всички решения се мотивират писмено.

7. Окончателност на решението

Решението на Комисията по жалбите и академична етика е окончателно и не подлежи на последващо обжалване в рамките на процедурата на конференцията.

8. Конфиденциалност

Всички документи, становища и кореспонденция, свързани с процедурата по обжалване, се третират като поверителни и се използват единствено за целите на разглеждането на конкретната жалба. Личните данни се обработват в съответствие с приложимото законодателство относно защитата на личните данни.

9. Съответствие с етичните стандарти

Процедурата по жалби и обжалване се прилага в съответствие с етичните принципи на Committee on Publication Ethics (COPE) и утвърдените международни практики за научно публикуване, като гарантира равнопоставеност, прозрачност, академична почтеност и независимост на процеса на оценяване.

I. ЗАДЪЛЖЕНИЯ НА РЕДАКТОРИТЕ И РЕЦЕНЗЕНТИТЕ

Редакторите се ръководят от политиката на Редакционния съвет за спазване на законовите изисквания относно използването на обидни изрази, нарушенията на авторското право и плагиатството.
Всеки доклад, представен за публикуване в сборника от конференцията, подлежи на проверка за плагиатство със софтуера StrikePlagiarism.
Членовете на Редакционния съвет трябва да оценяват ръкописите според тяхното научно съдържание независимо от раса, пол, сексуална ориентация, религиозни убеждения, етническа принадлежност, гражданство, или политическа философия на авторите.
Членовете на Редакционния съвет не трябва да разкриват никаква информация относно подадения ръкопис на други лица освен авторите, рецензентите и представителите на издателя.
Членовете на Редакционния съвет не трябва да разкриват съдържанието на непубликуваните материали, приети като ръкописи, или да ги използват за собствени изследвания без писменото съгласие на авторите.
Рецензентите трябва да разглеждат всеки ръкопис получен за рецензиране, като поверителен документ. Рецензентът не трябва да разкрива или обсъжда съдържанието на ръкописа с друго лице, освен ако не е разрешено от автора (авторите).
Рецензентите са длъжни да уведомят редакторите за всяка съществена прилика или припокриване между представения ръкопис и друга публикувана работа, с която те са лично запознати.
Рецензентите трябва да пазят в тайна и да не използват за лично облагодетелстване информацията или идеите, получени по време на рецензирането на представения ръкопис. Рецензентите следва да не разглеждат ръкописи, когато има конфликт на интереси, произтичащ от конкурентни, съвместни или други връзки, които те могат да имат с някой от авторите, компаниите или институциите, свързани с научно-изследователската дейност.

II. ЗАДЪЛЖЕНИЯ НА ИЗДАТЕЛЯ

Издателят не може да участва във вземането на решения, направени от Редакционния съвет за публикуването на отделните доклади.
Издателят гарантира, че рекламата, препечатката или друга търговска дейност свързана с изданието, няма да има отражение върху редакционните решения.
Издателят подпомага комуникацията с други списания и издатели, когато това е от полза за Редакционния съвет или рецензентите.

Издателите си сътрудничат с други известни издатели и браншови сдружения в процеса на създаване на стандарти за добри практики, свързани с въпросите на публикационната етика.

Изисквания към авторите

УНСС — Sat, 25 Jul 2026 23:19:37 GMT

Изискванията за публикуване на докладите в сборника с доклади от ДВАДЕСЕТАТА МЕЖДУНАРОДНА НАУЧНА КОНФЕРЕНЦИЯ НА МЛАДИТЕ УЧЕНИ „ИКОНОМИКАТА НА БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ: 20 ГОДИНИ ОТ ПОДПИСВАНЕТО НА ДОГОВОРА ЗА ПРИСЪЕДИНЯВАНЕ НА РЕПУБЛИКА БЪЛГАРИЯ КЪМ ЕВРОПЕЙСКИЯ СЪЮЗ И ЧЛЕНСТВО В ЕВРОЗОНАТА ОТ 1.01.2026“ отразяват принципите, заложени в „Кодекса за поведение, насоки и добри практики на Редакторите на издания“ (COPE) и във вътрешнонормативните документи на УНСС. Правилата регламентират стандартите за етично поведение на всички участници в процеса на публикуване: автори, редактори, рецензенти и Университета за национално и световно стопанство като издател.

I. ИЗИСКВАНИЯ КЪМ АВТОРИТЕ ЗА ПУБЛИКУВАНЕ НА ДОКЛАДИТЕ

МАТЕРИАЛИТЕ НЕ ТРЯБВА ДА СА ПУБЛИКУВАНИ В ДРУГИ ИЗДАНИЯ. Приемат се единствено авторски оригинални доклади. Използваните чужди научни разработки трябва да бъдат коректно представени с цитат или референция.
Авторите трябва приложат ДЕКЛАРАЦИЯ ЗА АВТОРСТВО (по образец). Образецът е посочен на сайта на конференцията. Тази декларация удостоверява, че материалът не е публикуван в други издания. Декларацията, подписана от автора и сканирана, следва да бъде изпратена на е-мейла на конференцията mladiucheniconf@unwe.bg, заедно със ЗАЯВКАТА ЗА УЧАСТИЕ (по образец).
При съавторство – е необходимо всеки автор да попълни и приложи ДЕКЛАРАЦИЯ ЗА СЪАВТОРСТВО (по образец), в която да се посочи участието на всеки автор в доклада. Декларацията, подписана от всеки съавтор и сканирана, следва да бъде изпратена на е-мейла на конференцията mladiucheniconf@unwe.bg, заедно със ЗАЯВКАТА ЗА УЧАСТИЕ (по образец).
Приетите доклади, оформени съобразно изискванията – след рецензиране от хабилитирани учени, ще бъдат публикувани в Сборник от конференцията в електронен формат с ISBN номер. Сборникът с доклади от конференцията ще бъде вписан в Националния референтен списък на съвременни български научни издания с научно рецензиране на НАЦИД.
За да бъде публикуван Сборникът с доклади от конференцията в Онлайн библиотеката за Централна и Източна Европа (Central and Eastern European Online Library - CEEOL), всеки автор следва да попълни ДЕКЛАРАЦИЯ ЗА CEEOL (по образец), подписана от всеки автор/съавтор и сканирана, следва да бъде изпратена на е-мейла на конференцията mladiucheniconf@unwe.bg, заедно със ЗАЯВКАТА ЗА УЧАСТИЕ (по образец).
Всеки участник с доклад ще получи в електронен вид Сборника с доклади от конференцията.
Регламентът за изнасяне и обсъждане на един доклад по време на конференцията е 10 минути.
Докладите на конференцията се представят с Power Point презентация.
Авторът (авторите) представят лично своя доклад на конференцията.
Авторите трябва да съхраняват първичните данни, използвани при анализите в доклада, и да са в състояние да предоставят първичните данни, свързани с доклада за редакционен преглед, ако бъдат поискани.
При отчитане на резултатите от научните си изследвания, авторите трябва да представят коректно извършената работа. В случай че автор открие значителна грешка или неточност в публикуваната му работа, негова отговорност е да уведоми незабавно Редакционната колегия и да сътрудничи с редактора за оттегляне или коригиране на изданието, ако това е възможно.
Авторите следва да оповестят възможните финансови или други конфликти на интереси, които биха могли да се считат като оказващи влияние върху резултатите, представени в статията, или върху тяхното тълкуване.

II. ИЗИСКВАНИЯ КЪМ АВТОРИТЕ ЗА ФОРМАТИРАНЕ НА ДОКЛАДИТЕ

При изготвянето на доклада спазвайте изцяло Образеца на доклад, представен по-долу. Докладът, изготвен съгласно изискванията, следва да бъде изпратен в указания срок на е-мейла на конференцията mladiucheniconf@unwe.bg.
Максималният обем на доклада е 8 страници, вкл. таблици, фигури (графики и диаграми) и библиография.
Докладите могат да бъдат написани и представени на работните езици на конференцията - български или английски.
Докладите ще бъдат публикувани на езика, на който са представени.
Първата страница на доклада следва да съдържа следната информация:

Заглавие на доклада - на български език

Име и фамилия на автора (авторите) - на български език

Научната степен, академичната длъжност, местоработата, адресът за кореспонденция и e-mail адресът на автора (авторите) следва да се дадат като бележка под линия (Footnote) на всеки автор - на български език

Резюме (максимум до 300 думи) - на български език

Ключови думи (максимум до 5 думи) - на български език

JEL класификация (поне един класификационен код)

Заглавие на доклада - на английски език

Име и фамилия на автора (авторите) - на английски език

Научната степен, академичната длъжност, местоработата, адресът за кореспонденция и e-mail адресът на автора (авторите) следва да се дадат като бележка под линия (Footnote).

Резюме (максимум до 300 думи) - на английски език

Ключови думи (максимум до 5 думи) - на английски език

JEL класификация (поне един класификационен код)

Да се избягват абревиатури, диаграми (схеми) и референции към текста в резюмето.
На първата страница заглавието на доклада, имената на автора (авторите), научната степен и академична длъжност, местоработата, както и резюмето и ключовите думи за българските участници задължително трябва да бъдат написани на български и на английски език. За чуждестранните участници – те трябва да бъдат написани на английски език.
Докладите се изготвят на версия Word 2000 или по-висока във формат А4 (около 40 реда на страница).
Препоръчителна последователност при оформяне на докладите:

Увод / Introduction

Дискусия на релевантната литература / Discussion of the relevant literature

Обяснение на методологията / Methodology

Използване на данните и източници / Data and sources

Описание на резултатите от изследването / Results from the study

Заключение / Conclusion

Библиография / References

Докладите, изготвени на български език, трябва да съдържат едно Резюме на български език – в обем до 300 думи, и едно Резюме (Abstract) на английски език – в обем до 300 думи.
Докладите, изготвени на английски език, трябва да съдържат само едно Резюме (Abstract) на английски език – в обем до 300 думи.
JEL класификацията може да бъде намерена на следния линк: https://www.aeaweb.org/econlit/jelCodes.php?view=jel
При техническото оформяне на докладите е нужно да се спазват следните изисквания за форматиране:

Полета на страниците: отляво – 2,5 см, отдясно – 2,5 см, отгоре – 2,5 см, отдолу – 2,5 см .

Шрифт на текста на доклада: Times New Roman, 12 pt, normal.

Междуредие: 1,5.

Заглавие на доклада: шрифт Times New Roman, 14 pt, cap lock, bold, centered.

Номерация на страниците: долу, центрирано.

Име и фамилия на автора (авторите) (разположени след един празен ред след заглавието): шрифт Times New Roman, 12 pt, bold, centered.

Резюме / Abstract (разположено след един празен ред след името и фамилията на автора (авторите)): шрифт Times New Roman, 12 pt, italic, justified.

Ключови думи / Keywords (разположени след един празен ред след резюмето): шрифт Times New Roman, 12 pt, italic, justified.

Подзаглавия: шрифт Times New Roman, 12 pt, bold, centered.

Формулите трябва да са центрирани и номерирани отдясно (1), (2),...

Таблици и фигури:

Всички графики и диаграми трябва да бъдат обозначени като фигури и последователно да бъдат номерирани с арабски цифри. Наименованията трябва да бъдат поставени под фигурите.

Графиките и диаграмите да не се слагат в текста като снимки, а като изображения с възможност за редактиране.

Таблиците трябва да последователно номерирани с арабски цифри. Наименованията трябва да бъдат поставени над таблиците.

Таблиците да не се слагат в текста като снимки, а като таблици с възможност за редактиране.

Източникът на данните в таблица/фигура трябва да бъде посочен под таблицата/фигурата. В таблиците и фигурите може да бъде включен текст на български език и на английски език – шрифт Font Times New Roman, 10 pt, normal.

Цитиране в текста:

При цитиране в текста на публикации от друг автор или автори, да се спазват следните посочени правила:

Krugman at al. (1997); Born (1998) and Jones (2001); Barney (1991; 1994).

При цитиране в текста на публикации от други автори да се спазват посочените по-нататък правила.

Когато се цитира конкретен текст от чужда публикация, да се посочват страниците: Павлов (2002, с. 333) твърди, че ". . . . . . ". Без посочване на конкретен текст е само: Павлов (2002) потвърждава тезата за наличието на връзка . .

Когато името на автора не е посочено директно в текста, то се поставя в скоби заедно с годината на публикацията: Този проблем е вече изследван (Кругман и др., 1997).

Когато в едно изречение са посочени повече от един автор, те се цитират: Smith (2000) и Born (2002) също доказват, че . . . .

При повече от една публикация по темата от даден автор позоваването е: Както предлага Barney (1991; 1997) . . . или Изследвания през 90-те години (Barney, 1991; 1997) показват, че . . .

Ако се използват няколко публикации от един автор в една и съща година, след годината се добавя малка буква а, в, с и т.н. Пример: Предходно изследване на Porter (1990а) показва, че . . . , но по-късно изследване отново от Porter (1990в) разширява това твърдение с нови аспекти.

При цитиране на вторични източници форматът е: Изследване на Brown (2000, цитирано в Smith, 2004, с. 120) показва, че . . .

Библиография

Библиографията следва да бъде посочена след основния текст, без номериране на литературните източници.

Източниците (публикации и т.н.) се подреждат по азбучен ред на фамилиите на авторите – първо на кирилица, а след това на латиница и други езици.

Под всеки цитиран източник на кирилица – на български език, да се даде същият източник, изписан по правилата на Закона за транслитерацията.

Пример:

Ерхард, Л. (1993). Благоденствие за всички. София, УИ „Стопанство“.

(Erhard, L. (1993). Blagodenstvie za vsichki, Sofia, UI „Stopanstvo“.)

Поредността на публикациите от един автор се отбелязва чрез добавяне на малки букви а, в, с и т.н. след годината на публикуване.

При съставяне на списъка с цитираните източници да се използват следните модели (формати):

За книги и монографии:

Porter, M. (1990). The Competitive Аdvantage of Nations. New York: The Free Press.

Post, J., Lawrence, A., Weber, J. (1999). Business and Society. 9th ed. Irwin/McGraw – Hill.

Георгиев, И. (1999). Основи на инвестирането. София: Университетско издателство "Стопанство".

За статии и периодични издания:

Farrell, J., Shapiro, C. (2008). How Strong Are Weak Patents? American Economic Review, 98(4), pp. 1347-1369.

Динков, Д. (2011). Виртуалните общности в постмодерния свят. Икономически алтернативи, № 4, с. 3-18.

При посочване на автор от колективна публикация:

Friedman, M. (1991). The Social Responsibility of Business Is to Increase Its Profits, in J. Bower (ed.), The Craft of General Management. Boston: Harvard Business School Publications, 287-296.

За интернет/електронни източници:

Ако източникът е уеб сайт, информацията се подрежда, както следва: източник, година, заглавие на уеб документа или уеб страницата [средство за достъп], наличен в: уеб сайт адрес/ URL[Дата на последно влизане на потребителя (за застраховка)]

Пример:

American Economic Association (2012). JEL Classification Codes Guide, [online] Available at: <http://www.aeaweb.org/jel/guide [Accessed 15 May 2012].

Hart, K. (1998) The place of the 1898 Cambridge, Anthropological Expedition to the Torres Straits (CAETS) in the history of British social anthropology. Science as Culture. [Online] 11 (1). Available: http://human-nature.com/science-as-culture/hart.html [Accessed 9 November 2003]

За непосочените случаи и източници следва да се използва Харвардската система за цитиране.

Изтеглете образци на доклад - на български и на английски език (Paper template in Bulgarian and in English) от прикачените файлове.

Годишен редакционен отчет

УНСС — Sat, 25 Jul 2026 22:07:29 GMT

Годишен редакционен отчет на подадените доклади за участие в сборника от ДВАДЕСЕТАТА МЕЖДУНАРОДНА НАУЧНА КОНФЕРЕНЦИЯ НА МЛАДИТЕ УЧЕНИ „ИКОНОМИКАТА НА БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ: 20 ГОДИНИ ОТ ПОДПИСВАНЕТО НА ДОГОВОРА ЗА ПРИСЪЕДИНЯВАНЕ НА РЕПУБЛИКА БЪЛГАРИЯ КЪМ ЕВРОПЕЙСКИЯ СЪЮЗ И ЧЛЕНСТВО В ЕВРОЗОНАТА ОТ 1.01.2026“, 6-7. 11.2025 г., УНСС, София, България:

брой подадени материали - 162;
брой приети - 112;
брой отхвърлени - 50;
процент на приети - 69%

Политика за научната насоченост (Content Relevance Policy)

УНСС — Fri, 17 Jul 2026 01:09:45 GMT

ПОЛИТИКА ЗА НАУЧНАТА НАСОЧЕНОСТ

(Content Relevance Policy)

1. Цел на политиката

Политиката за научната насоченост определя тематичната идентичност на изданието и гарантира, че публикуваните материали имат последователна научна ориентация, ясно място в международния научен обмен и устойчив принос към съответната дисциплина.

2. Научен обхват

Изданието публикува изследвания, които:

развиват съществуващи научни знания;
предлагат нови теоретични или приложни решения;
използват научно обосновани методологии;
имат потенциал за международна научна комуникация.

3. Критерии за тематична релевантност

Всеки ръкопис се оценява спрямо:

съответствие с предметната област на списанието;
ясно формулиран научен проблем;
принос към съществуващата литература;
наличие на международен научен контекст;
потенциал за въздействие върху развитието на дисциплината.

4. Недопустимо съдържание

Не се приемат публикации, които:

нямат ясно изразен научен принос;
представляват само описателни материали без аналитична стойност;
не са свързани с тематичния профил на изданието;
съдържат непроверени твърдения без научна аргументация.

5. Стратегическа цел

Чрез настоящата политика изданието гарантира:

ясно научно позициониране;
последователност на съдържанието;
международна разпознаваемост;
устойчиво развитие към включване в международни библиографски и цитатни бази данни.

Програма

УНСС — Sat, 08 Nov 2025 13:40:15 GMT

Програмата на XX Международна научна конференция на младите учени на тема „ИКОНОМИКАТА НА БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ: 20 ГОДИНИ ОТ ПОДПИСВАНЕТО НА ДОГОВОРА ЗА ПРИСЪЕДИНЯВАНЕ НА РЕПУБЛИКА БЪЛГАРИЯ КЪМ ЕВРОПЕЙСКИЯ СЪЮЗ И ЧЛЕНСТВО В ЕВРОЗОНАТА ОТ 1.01.2026” може да изтеглите от тук.

Редакционен съвет

УНСС — Tue, 28 Oct 2025 13:37:33 GMT

Проф. д-р Румен Брусарски – Финансово-счетоводен факултет, УНСС, София, България

Проф. д-р Силвия Трифонова – Финансово-счетоводен факултет, УНСС, София, България

Проф. д-р Красимир Йорданов – Финансово-счетоводен факултет, УНСС, София, България

Prof. Mario Pecaric, DSc – Faculty of Economics, Business and Tourism, University of Split, Split, Croatia, and Professor, Faculty of Economics and Business, University of Rijeka, Rijeka, Croatia

Prof. Ljupcho Stojcheski, PhD – European University, Republic of North Macedonia, Dean of Faculty of Information Technologies, International University of Struga, Struga, Republic of North Macedonia

Prof. Yevhen Namliev, PhD – Higher School of Social and Economic Przeworsk, Poland

Prof. Liudmyla Golokova, DSc – Department of Finance, Accounting and Psychology, Ukranian State University of Science and Technology, Dnipro, Ukraine, Vice-Presindent of the Ukranian Scientific Diaspora in France, Paris, France

Prof. Oleksandr S. Balan, PhD – Odesa Polytechnic National University, Odesa, Ukraine

Assoc. Prof. Oleksandr. P. Krupskyi, PhD – Oles Honchar Dnipro National University, Dnipro, Ukraine

Prof. Lyudmyla Shymanovska-Dianych, PhD – Head of the Department of Management, Poltava University of Economics and Trade (PUET), Poltava, Ukraine

Prof. Elizabeta Tomevska-Ilievska, DSc - Ss. Cyril and Methodius University, Skopje, Republic of North Macedonia

Andrej Ilievski, PhD – University American College Skopje (UACS), School of Business Economics and Management, Skopje, Republic of North Macedonia

Проф. д-р Богомил Манов – Финансово-счетоводен факултет, УНСС, София, България

Проф. д-р Маргарита Александрова-Борисова – Финансово-счетоводен факултет, УНСС, София, България

Проф. д-р Снежана Башева – Финансово-счетоводен факултет, УНСС, София, България

Проф. д-р Румяна Пожареска – Финансово-счетоводен факултет, УНСС, София, България

Проф. д-р Тодор Недев – Финансово-счетоводен факултет, УНСС, София, България

Доц. д-р Радостин Вазов – Стопански факултет, Софийски университет „Св. Климент Охридски“, София, България

Доц. д-р Иван Тодоров – Стопански факултет, Югозападен университет „Неофит Рилски“, Благоевград, България

Доц. д-р Владимир Ценков – Стопански факултет, Югозападен университет „Неофит Рилски“, Благоевград, България

Доц. д-р Емил Калчев - Департамент "Икономика", Нов Български Университет (НБУ), София, България

Доц. д-р Лена Русенова – Финансово-счетоводен факултет, УНСС, София, България

Доц. д-р Мария Маркова – Финансово-счетоводен факултет, УНСС, София, България

Доц. д-р Атанаска Филипова-Сланчева – Финансово-счетоводен факултет, УНСС, София, България

Доц. д-р Лиляна Джонева – Финансово-счетоводен факултет, УНСС, София, България

Доц. д-р Таня Вазова – Пловдивски университет „Пайсий Хилендарски“, Пловдив, България

Гл. ас. д-р Тома Дончев – Финансово-счетоводен факултет, УНСС, София, България

Организационен Комитет

УНСС — Sat, 25 Oct 2025 12:03:45 GMT

Проф. д-р Силвия Трифонова – Председател на Организационния комитет на конференцията, Заместник-декан по качество и международно сътрудничество на Финансово-счетоводен факултет на УНСС, София, България

Prof. Hudz Tetiana, PhD – Director of the Educational and Scientific Centre for Training Highly Qualified Personnel of Poltava University of Economics and Trade, Poltava, Ukraine

Проф. д-р Надя Велинова-Соколова – катедра “Финанси и счетоводство”, Стопански факултет на Софийския университет "Св. Климент Охридски", София, България

Доц. д-р Радостин Вазов – Катедра “Статистика и иконометрия”, Стопански факултет на Софийския университет "Св. Климент Охридски", София, България

Доц. д-р Стоян Танчев - Ръководител на катедра "Финанси и отчетност", Стопански факултет при Югозападен университет "Неофит Рилски", Благоевград, България

Доц. д-р Елена Ставрова - Катедра "Финанси и отчетност", Стопански факултет при Югозападен университет "Неофит Рилски", Благоевград, България

Доц. д-р Цветелина Маринова - Департамент "Икономика" при Нов Български Университет (НБУ), София, България

Prof. Ljubomir Drakulevski, PhD – Dean of Faculty of Economics, Ss. Cyril and Methodius University of Skopje, Skopje, Republic of North Macedonia

Prof. Vesna Bucevska, PhD – Vice-Dean on Science and International Activity of the Faculty of Economics, Ss. Cyril and Methodius University of Skopje, Skopje, Republic of North Macedonia

Nataliia Manzhura – Head of the Scientific and Organizational Department of Poltava University of Economics and Trade, Poltava, Ukraine

Доц. д-р Атанаска Филипова-Славчева – Катедра „Счетоводство и анализ”, УНСС, София, България

Доц. д-р Лиляна Джонева – Катедра „Счетоводство и анализ”, УНСС, София, България

Доц. д-р Мария Маркова – Катедра „Счетоводство и анализ”, УНСС, София, България

Доц. д-р Евгени Райков – Катедра „Финанси“, УНСС, София, България

Гл. ас. д-р Катерина Войческа-Никодиноска – Катедра „Финанси”, УНСС, София, България

Гл. ас. д-р Николина Николова – Катедра „Счетоводство и анализ“, УНСС, София, България

Гл. ас. д-р Росица Тончева – Катедра „Финанси”, УНСС, София, България

Гл. ас. д-р Тома Дончев – Катедра „Финансов контрол”, УНСС, София, България

Гл. ас. д-р Галя Тасева – Катедра „Финанси“, УНСС, София, България

Гл. ас. д-р Кремена Володинова Шутилова-Йочколовска – Катедра „Финанси“, УНСС, София, България

Гл. ас. д-р Ангел Ангелов – Катедра „Финанси“, УНСС, София, България

Гл. ас. д-р Явор Башев – Катедра „Финансов контрол“, УНСС, София, България

Гл. ас. д-р Маргарита Иванова - Катедра "МИО и бизнес", УНСС, София, България

Ас. д-р Ивайло Тасков – Катедра „Финанси“, УНСС, София, България

Д-р Валя Василева – Катедра „Финанси“, УНСС, София, България

Емилия Стоименова – Началник сектор, Финансово-счетоводен факултет на УНСС, София, България

Гл. ас. д-р Милена Ковачевич – Организационен секретар на конференцията, катедра „Финанси”, УНСС, София, България

Гл. ас. д-р Ясен Даскалов – Организационен секретар на конференцията, катедра „Счетоводство и анализ”, УНСС, София, България

Заявка за участие

УНСС — Mon, 13 Oct 2025 08:10:23 GMT

Може да попълните заявката за участие като изтеглите прикачения по-долу файл и го изпратите на mladiucheniconf@unwe.bg или като попълните формата за регистрация: https://forms.office.com/e/iL0DMJcAfP

Декларации за CEEOL

УНСС — Fri, 03 Oct 2025 15:24:52 GMT

Изтеглете декларацията за съгласие за публикуване в CEEOL на български език от тук и на английски език от тук.

Програмен Комитет

УНСС — Thu, 18 Sep 2025 08:19:22 GMT

Проф. д-р Румен Брусарски – Председател на Програмния комитет на конференцията, Декан на Финансово-счетоводен факултет на УНСС, София, България

Доц. д-р Красимир Йорданов – Заместник-председател на Програмния комитет на конференцията, Заместник-декан по научноизследователската дейност на Финансово-счетоводен факултет на УНСС, София, България

Prof. Oleksiy Nestulya, PhD – Rector of Poltava University of Economics and Trade, Poltava, Ukraine

Prof. Nataliia Pedchenko, PhD – First Vice-Rector of Poltava University of Economics and Trade, Poltava, Ukraine

Проф. д-р Даниела Фесчиян – Ръководител на катедра "Счетоводство и анализ", УНСС, София, България

Доц. д-р Гергана Михайлова-Борисова – Ръководител на катедра „Финанси”, УНСС, София, България

Доц. д-р Георги Ранчев – Ръководител на катедра „Финансов контрол“, УНСС, София, България

Проф. д-р Теодора Рупска – Председател на Общото събрание на Финансово-счетоводен факултет на УНСС, София, България

Доц. д-р Атанас Георгиев – Декан на Стопанския факултет на Софийски университет “Св. Климент Охридски”, София, България

Проф. д-р Вяра Кюрова – Заместник-ректор по образователни дейности на Югозападен университет "Неофит Рилски", Благоевград, България

Проф. д-р Райна Димитрова – Декан на Стопанския факултет при Югозападен университет "Неофит Рилски", Благоевград, България

Доц. д-р Ренета Димитрова - Ръководител на Департамент "Икономика" при Нов Български Университет (НБУ), София; България;

Проф. д-р Татяна Хубенова-Делисивкова – Председател на Управителния съвет на Съюза на икономистите в България (СИБ), София, България

Калоян Стефанов – Председател на Студентския съвет при УНСС, София, България

Prof. Mario Pecaric, PhD – Professor in Faculty of Economics, Business and Tourism, University of Split, Split, Croatia, and Professor, Faculty of Economics and Business, University of Rijeka, Rijeka, Croatia

Prof. Helena Blazic, PhD – Professor in Faculty of Economics and Business, University of Rijeka, Rijeka, Croatia

Andrej Ilievski, PhD – University American College Skopje, School of Business Economics and Management, Skopje, Republic of North Macedonia

Adj. Prof. Vanina Dangarska, PhD – Adjunct Professor in Department of Economics, Teaching Tutor Department of Management, University of Bologna, Italy - Alma Mater Studorium Universita di Bologna-Sede di Rimini, Bologna, Italy

Nikolina Vrcelj – Researcher, Scientific Conference Secretary of ERAZ Conference, Balkans JETSS Managing Editor, Executive Manager at the Association of Economists and Managers of the Balkans (UdEkoM Balkan), Belgrade, Serbia

За конференцията

УНСС — Thu, 18 Sep 2025 08:17:44 GMT

ДВАДЕСЕТА МЕЖДУНАРОДНА НАУЧНА КОНФЕРЕНЦИЯ НА МЛАДИТЕ УЧЕНИ

„ИКОНОМИКАТА НА БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ: 20 ГОДИНИ ОТ ПОДПИСВАНЕТО НА ДОГОВОРА ЗА ПРИСЪЕДИНЯВАНЕ НА РЕПУБЛИКА БЪЛГАРИЯ КЪМ ЕВРОПЕЙСКИЯ СЪЮЗ И ЧЛЕНСТВО В ЕВРОЗОНАТА ОТ 1.01.2026“

Под патронажа на ректора на УНСС проф. д-р Димитър Димитров

Университет за национално и световно стопанство (УНСС)

Финансово-счетоводен факултет

6 - 7 ноември 2025 г., УНСС, София, България

Уважаеми дами и господа,

От името на Програмния и Организационния комитет на конференцията имаме честта и удоволствието да Ви поканим да участвате в Двадесетата международна научна конференция на младите учени на тема „ИКОНОМИКАТА НА БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ: 20 ГОДИНИ ОТ ПОДПИСВАНЕТО НА ДОГОВОРА ЗА ПРИСЪЕДИНЯВАНЕ НА РЕПУБЛИКА БЪЛГАРИЯ КЪМ ЕВРОПЕЙСКИЯ СЪЮЗ И ЧЛЕНСТВО В ЕВРОЗОНАТА ОТ 1.01.2026”, която ще се проведе на 6 - 7 ноември 2025 г. в УНСС, София.

Конференцията се провежда от Финансово-счетоводния факултет (ФСФ) на УНСС в съорганизаторство със следните национални и чуждестранни университети и организации:

- Стопански факултет на Софийския университет "Св. Климент Охридски", София, България;

- Университет по застраховане и финанси, София, България;

- Стопански факултет при ЮЗУ “Неофит Рилски”, Благоевград, България;

- Нов Български Университет (НБУ), София; България;

- Съюз на икономистите в България (СИБ), София, България;

- Студентски съвет на УНСС, София, България;

- Асоциация на преподавателите по икономика и управление в индустрията (АПИУИ), София, България;

- Alma Mater Studiorum Universita di Bologna-Sede di Rimini – Italia;

- University of Split, Faculty of Economics, Business and Tourism – Croatia;

- Полтавский Университет экономики и Торговли – Украйна;

- Луцкий Национальны Технический Университет – Украйна;

- University of Rijeka, Faculty of Economics and Business – Croatia;

- Ss. Cyril and Methodius University of Skopje – Republic of North Macedonia.

Целта на международната конференция е младите учени – докторанти, преподаватели, изследователи в ранен етап, както и студенти, да представят своите научни изследвания пред академичната общност и да дискутират икономически проблеми с български и чуждестранни учени. Този научен форум се провежда за двадесети пореден път, като публикуваните научни резултати от предходните 19 научни конференции доказват значителния потенциал за бъдещото професионално развитие на младите учени. Форматът и организацията на научната проява са насочени към създаването на академична атмосфера, благоприятстваща диалога и обмяната на идеи между различните равнища на академичната колегия и представителите на бизнеса.

Конференцията е също отворена за участието на студенти (бакалавърска и магистърска степен на обучение), представящи техните изследователски интереси и проучвания. Студентите участват в сесиите и дискусиите с изтъкнати преподаватели, учени, полиси-мейкъри и представители на бизнеса.

Конференцията е финансирана по университетски проект за научна проява по договор № НИД НФ-1/2025/Б.

ТЕМАТИЧНИ НАПРАВЛЕНИЯ НА КОНФЕРЕНЦИЯТА:

1. Финансова политика, финансови пазари, банково дело, инвестиции, застраховане и социално осигуряване;

2.. Счетоводна политика и практика, счетоводни стандарти, финансов одит, контролни системи и вътрешен контрол;

3. Изследвания и наука, изследователска и развойна дейност, връзка „наука – бизнес“, иновации, конкурентоспособност, управление на проекти;

4. Предприемачество, мениджмънт, маркетинг, корпоративен контрол и развитие на бизнеса в България, в ЕС и в глобален мащаб.

Работни езици на конференцията:

Български;
Английски.

Място на провеждане на конференцията:

Участието в конференцията е хибридно - на място в УНСС, София, в Голяма и Малка конферентни зали, и онлайн в електронната платформа MS Teams.

Желаем Ви ползотворно участие в конференцията!

С уважение,

Проф. д-р Румен Брусарски

Председател на Програмния комитет на конференцията

Декан на Финансово-счетоводния факултет

Проф. д-р Силвия Трифонова

Председател на Организационния комитет на конференцията

Заместник-декан по качество и международно сътрудничество на Финансово-счетоводния факултет

Важно!

За да бъде публикуван Сборникът от конференцията в Онлайн библиотеката за Централна и Източна Европа (Central and Eastern European Online Library – CEEOL), моля, попълнете Декларация за CEEOL, посочена в съответния раздел на сайта, и я предоставете подписана на Организационния комитет на конференцията или я изпратете сканирана на мейла на конференцията.

Важни дати

УНСС — Fri, 08 Aug 2025 11:07:24 GMT

20 октомври 2025 г.

- Краен срок за подаване на онлайн ЗАЯВКА ЗА УЧАСТИЕ (по образец) на мейла на конференцията:

mladiucheniconf@unwe.bg

6 ноември 2025 г.

- Краен срок за заплащане на ТАКСАТА ЗА ПРАВОУЧАСТИЕ в конференцията. Заплащането се извършва чрез банков превод.

Участниците от УНСС и другите университети и организации-партньори на конференцията са освободени от заплащане на такса за правоучастие в конференцията

Таксата за правоучастие в конференцията за български участници извън УНСС и партниращите университети и организации е 180 лв. (сто и осемдесет лв.) (с включен ДДС).

Таксата за правоучастие в конференцията за чуждестранни участници извън УНСС и партниращите университети и организации е 90 евро (деветдесет евро) (с включен ДДС).

30 ноември 2025 г.

- Краен срок за изпращане на ДОКЛАДА (по образец и оформен съгласно изискванията) на мейла на конференцията:

mladiucheniconf@unwe.bg

Декларация за съавторство

УНСС — Thu, 24 Jul 2025 08:42:31 GMT

Декларация за съавторство

Уважаеми участници, молим да изпращате вашите деклации за съавторство на мейла на конференцията: mladiucheniconf@unwe.bg

Декларация за авторство (Copyright Form)

УНСС — Thu, 24 Jul 2025 08:40:52 GMT

Декларация за авторство

Уважаеми участници, молим да изпращате вашите декларации за авторство на мейла на конференцията: mladiucheniconf@unwe.bg

Покана

УНСС — Thu, 24 Jul 2025 08:28:26 GMT

Начало

УНСС — Thu, 24 Jul 2025 08:24:54 GMT

ДВАДЕСЕТА МЕЖДУНАРОДНА НАУЧНА КОНФЕРЕНЦИЯ НА МЛАДИТЕ УЧЕНИ

„ИКОНОМИКАТА НА БЪЛГАРИЯ И ЕВРОПЕЙСКИЯ СЪЮЗ:

20 ГОДИНИ ОТ ПОДПИСВАНЕТО НА ДОГОВОРА ЗА ПРИСЪЕДИНЯВАНЕ НА РЕПУБЛИКА БЪЛГАРИЯ КЪМ ЕВРОПЕЙСКИЯ СЪЮЗ И ЧЛЕНСТВО В ЕВРОЗОНАТА ОТ 1.01.2026”

под патронажа на ректора на УНСС проф. д-р Димитър Димитров

Университет за национално и световно стопанство (УНСС)

Финансово-счетоводен факултет

6 - 7 ноември 2025 г., УНСС, София

Откриване в 10:00 часа, УНСС, Голяма конферентна зала

Такса за правоучастие

УНСС — Tue, 15 Jul 2025 09:15:44 GMT

Всички участници от УНСС и от партниращите университети и организации са освободени от такса за правоучастие в конференцията.

Размер на таксата за правоучастие в конференцията

Таксата се заплаща по следната банкова сметка на УНСС:

БАНКОВИ ДАННИ

Банка: БНБ

BIC на БНБ: BNBGBGSD

IBAN: BG03BNBG96613100174601.

Основание на плащането: “Такса за правоучастие в 20-та международна конференция на младите учени”.

Архив - 2024 г.

УНСС — Wed, 09 Jul 2025 08:19:24 GMT

Редакционна политика

УНСС — Mon, 23 Jun 2025 13:54:53 GMT

Редакционен съвет

Научен семинар

УНСС — Thu, 12 Jun 2025 13:20:28 GMT

Фотогалерия

УНСС — Wed, 20 Nov 2024 13:04:11 GMT

Image Gallery

Контакти

УНСС — Mon, 15 Jul 2024 10:39:34 GMT

Гл. ас. д-р Милена Ковачевич

Организационен секретар на конференцията

Гл. ас. д-р Ясен Даскалов

Организационен секретар на конференцията

E-mail: mladiucheniconf@unwe.bg

Финансово-счетоводен факултет

УНСС, Район "Студентски”, ул. „8 декември” №19

София 1700

Актуална информация за конференцията се публикува на интернет страницата на конференцията:

http://young-scientists.unwe.bg/