Market Capitalization Factors Of The Bulgarian Pharmaceutical Sector In Pandemic

The article is focused on the changes of the market capitalization in the Bulgarian pharmaceutical sector during the COVID-19 pandemic. The aim of the article is to measure and justify the impact of a set of factors that affect the market capitalization of public companies from the Bulgarian pharmaceutical sector in a pandemic environment. The main performance indicator under consideration is the market capitalization of the leading pharmaceutical companies included in the BGBX40 stock exchange index during the two-year pandemic period (from June 2020 until May 2022). For the purpose of the research, a multiple linear regression model (OLS) is employed with the help of GRETL open-source software. Four of the selected eight impact factors are related to the sales of medical products; three are related to COVID-19 statistics and the last is a stock market index. The results from the analyses evidence a strong relationship between the impact factors and the market capitalization of Bulgarian pharmaceutical companies during the pandemic. The coefficient of determination shows that 96% of the change in the market capitalization could be explained by the change in the factors included in the model. The growth of the market capitalization of the studied Bulgarian companies over a period of 2 years is comparable to that of the world leading pharmaceutical companies that offer COVID-19 vaccines

Personnel Turnover Management Practices in Bulgaria and Kosovo Enterprises

The paper addresses the issue of personnel turnover in enterprises in Bulgaria and Kosovo. It presents the theoretic aspects of the nature and forms of personnel turnover, its determinative factors and effects for business entities as well as focuses on some initial prerequisites for the two countries, which indirectly influence it. The paper also presents the findings from a conducted survey among companies from the two countries which findings confirm the significance of the problem with personnel turnover and are used for an analysis of the practices for its management

Market Capitalization Factors Of The Bulgarian Pharmaceutical Sector In Pandemic

The article is focused on the changes of the market capitalization in the Bulgarian pharmaceutical sector during the COVID-19 pandemic. The aim of the article is to measure and justify the impact of a set of factors that affect the market capitalization of public companies from the Bulgarian pharmaceutical sector in a pandemic environment. The main performance indicator under consideration is the market capitalization of the leading pharmaceutical companies included in the BGBX40 stock exchange index during the two-year pandemic period (from June 2020 until May 2022). For the purpose of the research, a multiple linear regression model (OLS) is employed with the help of GRETL open-source software. Four of the selected eight impact factors are related to the sales of medical products; three are related to COVID-19 statistics and the last is a stock market index. The results from the analyses evidence a strong relationship between the impact factors and the market capitalization of Bulgarian pharmaceutical companies during the pandemic. The coefficient of determination shows that 96% of the change in the market capitalization could be explained by the change in the factors included in the model. The growth of the market capitalization of the studied Bulgarian companies over a period of 2 years is comparable to that of the world leading pharmaceutical companies that offer COVID-19 vaccines

THE EVOLVING CONCEPT OF REGULATION AND BUSINESS

Regulation is an integral part of present day economic system management at national, regional, and global levels. However, its role is strongly influenced by a number of processes taking place worldwide such as integration, internationalization, regionalization and globalization. The aim of this study is to identify major trends in the regulation of economic activity, taking into account its dimensions – political, procedural, structural, social, and economic. The article examines the nature and types of regulations, the retrospective aspect of the regulatory function of the state as well as new aspects of regulation by applying approaches to the systematization and theoretical enrichment of the concept of regulatio

Export Price Strategy Development in International Pulp Market: Aspects

The specifics of international markets have substantial influence over the technology for export pricing decisions. This applies to markets with significant price dynamics, such as international pulp market. The main aim of the research is to build up a technology for constructing of export price strategy for the international pulp market. The research lead to development of a price-forecasting model in international pulp market.

Tarptautinė prekyba kaip konkurencingumo veiksnys : Lietuvos ir Bulgarijos situacijos palyginimas

Globalizacijos ir internacionalizacijos procesai keičia verslo aplinką kiekvienoje šalyje, iškeldami daugybę naujų problemų ir klausimų. Vienas jų yra tarptautinės prekybos kaip konkurencingumo veiksnio valstybės lygiu problema, jo teorinis ir praktinis pagrįstumas. Straipsnio tyrimo tikslas yra remiantis Lietuvos ir užsienio šalių mokslininkų tyrimų rezultatais, parodyti tarptautinę prekybą kaip vieną iš veiksnių, lemiančių šalies konkurencingumą, pagrįstą įgytuoju lyginamuoju pranašumu. Lietuva ir Bulgarija siekia padidinti savo konkurencines galimybes tiek ES–15, tiek pasaulinėje rinkoje. Lietuvai tapus ES nare, pasauliniu mastu padidėjo jos pripažinimas, tarptautinė prekyba ir konkurencingumas. Atlikta šalių užsienio prekybos analizė rodo, kad Lietuvos tiek eksporto, tiek importo šalių partnerių skaičius analizuojamuoju 1996–2003 m. laikotarpiu didėjo sparčiau negu Bulgarijoje. Lietuvoje eksporto augimo tempai didesni negu importo, o Bulgarijoje – atvirkščiai. Lietuvos eksporto dalis užsienio prekybos apyvartoje iki 2001 m. buvo mažesnė negu Bulgarijos, tai reiškė, kad eksporto dalis yra mažesnė negu importas. 1996–2004 m. laikotarpiu Lietuvoje eksporto dalis užsienio prekybos apyvartoje turi didėjimo tendenciją. Bulgarijos eksporto dalis analizuojamu laikotarpiu pasižymėjo mažėjimo tendencija. Abiejų šalių esamos specializacijos kryptys rodo, kad šalys užsienio rinkose konkuruoja mažos pridedamosios vertės šakose. Ši tendencija turėtų keistis plečiant investicijas, inovacijas, naudojant vadybos galimybes ir žinių visuomenės privalumus.Globalisation and internationalisation processes change the business environment in every country, causing many new problems and issues. One of them is the problem of international trade as a competitive factor at the national level, and its theoretical and practical validity. Based on the results of researches of Lithuanian and foreign scientists, the paper aims to show international trade as one of the factors determining the country’s competitiveness based on the acquired comparative advantage. Lithuania and Bulgaria have been seeking to increase their competitive potential in both the EU-15 group and on the global market. After Lithuania acceded to the European Union, its worldwide recognition, international trade and competitiveness have increased. The analysis of foreign trade of the countries reveals that the number of Lithuanian export and import partners grew more rapidly than in Bulgaria during the period from 1996 to 2003. In Lithuania the export growth rate is higher than that of import, whereas in Bulgaria it is the opposite. The Lithuanian export part in foreign trade turnover before 2001 was smaller than in Bulgaria, which meant that the export part was smaller than import. During 1996–2004, the Lithuanian export part in foreign trade turnover had an increasing tendency. The Bulgarian export part fell during the given period. The specialisation directions of both countries show that the countries have been competing in foreign markets in the branches of low added value. This tendency should change by developing investments, innovations, using management opportunities and advantages of knowledge society

The national competitiveness: the gain and cost of european integration (Bulgarian and Lithuanian case)

This article aims to examine the changes of National competitiveness in Bulgaria and Lithuania in the context of economical integration into European Union (EU). The integration processes are bound with growing competition, which has already lost national character. Competition is dynamical. Nowadays countries compete as direct competitors for international markets. Authorities in all countries continually work with the problems of international trade. Once they make decisions, create trade policies to achieve eligible results. Each country seeks creating favourable international trade conditions in order to reduce unemployment level and to create new jobs. At present, on global level, the issue of economic policy, including competitiveness and its instruments convergence across the EU emerges. The economic, political and social realities of the contemporary world demand a new approach towards the processes developing in both national and global aspect. The small economies of EU must boost trade and to compete in the international level of markets if they seek economical development. All these countries face the necessity to strengthen the capacity of international trade and integration into the EU economy. Integration in the world economy has three aspects: regional, that involves the economic relations between small countries of Baltic region; a European, which involves relations with the European Union; global aspect, which involves Baltic region countries trade relations with the rest of the world. Integration to the EU is a major factor of Lithuania's and Bulgaria's economic and international trade development

Gospodarka o obiegu zamkniętym jako model osiągania zrównoważonego rozwoju

The essence of the concept of circular economy was determined. The processes of transition to a circular economy are analyzed, as a result of which three levels are distinguished: efficient use of materials; product life extention; smart production and use of products. The connection between the circular economy and sustainable development was implemented. The main business models of the circular economy are considered: Resources recovery, Sharing platforms, Product life extension, Product as a service, Circular suppliers. Strategies and tools of circular economy are developed. The world experience of waste utilization is considered