Issue 4, 2019

The focus is placed on the leading issue in mesoeconomics: strategic innovation and the competitive mobility of business. The strategic innovations of companies are analyzed systematically in terms of the creation and distribution of value (worth) that is different from other market values, while key competencies are discussed as “special junctions” of routines and technologies without which it is impossible to diversify the potential markets. The necessity for the objective contradiction between competencies and markets to be continually overcome through strategic decisions and how the key competency for competitive cooperation (Co-opetition) becomes a strategic necessity in the dynamic conditions of the Fourth Industrial Revolution are justified. The analysis of the joint creation of new value factors with the help of clusters and other strategic alliances is carried out based on the following criteria: the minimization of possible costs and the maximization of possible sources for gaining added value; balancing the potential risks of interaction in the value network related to the contribution of each company towards achieving the common goal.
JEL: M21; O31; D03

Through retrospective analysis, a methodological construction is developed which provides a basis for analysing the factors and for monitoring the current process of international industrial specialization in the photovoltaic business sector. In this regard, its market and non-market incentives are observed with the aim of deriving competitive advantages from the international trade in photovoltaic systems.
JEL: B15; F11; F23

The investment potential of the cryptocurrency market is examined through an analysis of the factors that lead to sharp fluctuations and a forecast of its volatility is made with the use of the CRIX index. This index is dynamic and its structure changes every three months, which provides detailed information on the volatility of the cryptocurrency market. The CRIX index includes the most liquid cryptocurrencies, which makes it a representative indicator of the cryptocurrency market as well as a reliable indicator when it comes to making market forecasts in the future. The Autoregressive Integrated Moving Average (ARIMA) model of forecasting dynamic rows used in the research is a barometer of the cryptocurrency market. The research follows the changes in the monthly price of the CRIX index from January 2015 to January 2019.
JEL: В26; С22; С32; С36; Е44; Е47; G17

Over the last few years, the outsourcing industry in Bulgaria has been generating a steady increase in GDP value and is constantly creating new jobs. The outsourcing industry under the current macroeconomic conditions is described. A comparative study of the financial results and organizational structure of the outsourcing companies is conducted. As a result, the perspectives and challenges for the outsourcing companies in Bulgaria are outlined.
JEL: F23

The concept of sustainable development has changed modern business. The successful companies of the 21st century strive to be good corporate citizens. This means integrating the concept of Corporate Social Responsibility (CSR) into their corporate strategies. The results of an empirical survey among carbonated soft drink manufacturers/bottling companies in Bulgaria on the aspects of applying CSR to this market are presented. The expert assessment offered by the business focuses on four key areas: (1) the role of CSR in the market for carbonated soft drinks in Bulgaria; (2) the effects of the implementation of CSR; (3) the consumer choice factors behind the purchase of carbonated soft drinks; and (4) the profile of the consumers of carbonated soft drinks.
JEL: М31

A relatively new „branch” of auditing, namely, the human resources audit, is examined from the standpoint of the internal control provisions in the Public Sector and the “COSO” model. Attention is drawn to the nature of this type of audit, the key indicators used in it, as well as its objectives and its scope. The implementation of the human resources audit is carried out in several steps, in keeping with the relevant principles, along with the establishment of Human Resources Management Systems in the organization. A connection is sought between the human resources audit the social audit, as well as opportunities to increase staff competence and empowerment, related to new value creation by and for the staff.
JEL: М42

The report analyzes elements of the Digital Economy and Society Index (DESI) on access to and use of digital technologies by people in Bulgaria. The use of digital technologies in other European countries has been analyzed. Conclusions have been made on the relationship between digital skills of people and the development of digital society in Bulgaria.
JEL: J24; Q55

Air transport is one of the fastest developing modes of transportation which contributes to the increase of GDP. The emergence and growing number of airlines offering low-cost flights, as well as the growing mobility of people not only in the EU, but also globally, compel transport operators to offer competitive transport services. In this regard, the main objective of the current study is to improve the conceptual model of Clark and Fujimoto (1991) in cases where it is applied in the assessment of the competitiveness of air transport.
JEL: R40; D41; F12