Issue 4, 2004

The present poverty analysis is based on statistical data from the multipurpose survey of households in Bulgaria conducted jointly by the National Statistical Institute, the Ministry of Labour and Social Policy and the World Bank in 2003. Statistical Data is interpreted in detail as are the main characteristics of the aggregates "Net Income" and "Consumption", used in estimating poverty levels. The former is studied with the help of three approaches (absolute, relative and subjective), widely used in global practice, and their respective methodology. At the same time, a critical analysis of the advantages and drawbacks of each approach is given in order to assist the choice of a poverty line in accordance with the conditions in this country. The results obtained are compared with those of previous surveys and similar ones conducted in other European countries.

This article discusses the theoretical analysis and practical application of the model of semideterministic multiperiod immunization, used in the management of assets and liabilities. The emphasis is on the main theorems, underlying the theory of the immunization, the formulation of the resultant optimization problem and its linearization, the technological sequencing of its usage and the necessary preliminary processing of the data before the latter is input into the linear optimization function. The application of the model is illustrated with an example and the results achieved are commented upon in view of their applicability.

The main types of the character merchandising strategy are discussed - licenced advertisements, licenced products, licenced promotions and sponsorship licences along with their main features and characteristics, differentiating the latter. A classification of the various types of strategies is suggested also in accordance with the type of character that is to be subjected to adaptation and subsequent reuse.
Some major parameters of the strategy of character merchandising are studied, mainly in view of the successful adaptation of the character to a new market segment and product. Some rules concerning the successful character - product "synergy" are drawn. The main reasons for the need to protect merchandise rights as intellectual property as well as the opportunities for that in the different legal systems are pointed out.

The methodological tools in the process of designing highly effective and competitive organizations are studied. Based on this, there are given a few successive actions of crucial importance: defining the mission of the organization with respect to the requirements of the specific business environment; planning of particular objectives on the basis of adapting to the specific business environment and flexible scheduling; balancing organizational resources with the aim to achieve perfection, promote and sustain organizational perfection in time; redefining the mission of the organization whenever the conditions in the external environment change. The degree of adequacy and applicability of the proposed model for designing target-adaptive organizations is discussed.

This article presents an analysis of the changes in profitability of the primary market for state securities in this country for the period 1998 - 2003, and the consequences for investors and the fisc. The study covers a six-year-period following the introduction of the currency board and the achievement of financial stability. There has been made an attempt to identify certain tendencies in the dynamics of the financial market segment under discussion. The observed fluctuations in profitability are used as a characteristic of price risk viewed by year and type of instrument. Using regressive analysis of the correlation between certain variables, the reasons behind the diminished profitability of the primary market are sought out.

This article clarifies the importance of the corporate way of global economic interdependence. Corporations are analyzed in the context of globalization theory. It is claimed that with globalization the importance of international corporations translates into the creation of a new economy. The changes in technological, managerial, production, financial, political and cultural principles for the development of corporate business are summed up. The institutional role of business is interpreted according to its modern global characteristics. Supported is the idea that business partnerships should be structured in various regional integrative communities, which create opportunities not only to cater for real economic interests, but also for the developmental goals in globalization. The existence of a real basis for the development of economic and social structures of global management without a global government is pointed out.