Countries are forced to develop bio-based economic strategies to promote efficient use of renewable natural resources. The transition towards a sustainable forest bio-based economy is associated with resource efficiency optimization, adoption of innovative bio-based approaches in terms of technological improvements and cost effectiveness, and an opportunity to reach multiple societal challenges. This paper is focused on a comparative analysis of the forestry sector in the Republic of Bulgaria and the Slovak Republic by estimating the economic efficiency of four Bulgarian state-owned forest enterprises and four Slovak forest enterprises. The evaluation of economic efficiency was carried out using selected indicators of the studied enterprises over a period of five years. A data envelopment analysis (DEA) approach was used as a non-parametric linear technique for measuring the relative efficiency of a set of production decision-making units (DMUs). The Malmquist productivity index (MPI) was used to assess the pure efficiency changes (PEC) and technological changes (TCs) of the studied forest enterprises. Data for 2014–2018 were processed. The results obtained for the economic efficiency study outlined the major factors affecting the differences in efficiency scores. The long-term sustainability and increased economic efficiency of forest enterprises in both countries can be achieved by improvements in forest management and investments in research and development activities.

The ongoing transition to a low-carbon, sustainable forest-based economy, and the adoption of circular bioeconomy principles in the wood-processing industry is associated with the optimization of natural resources, application of environmentally sustainable production technologies, adoption of technological and organizational innovations, and increased economic efficiency and competitiveness. The implementation of all these measures can help to reach the biggest challenge of our time in the fight against climate change in a cost-effective and competitive way. The aim of this study was to estimate the technical efficiency of wood-processing companies in the Slovak Republic and the Republic of Bulgaria by applying data envelopment analysis (DEA) and the Malmquist productivity index (MPI), and to reveal some factors for efficiency improvements. The economic efficiency evaluation based on official data was performed using selected indices of four wood-processing companies in each country in the period 2014–2018. The study implemented an output-oriented DEA model with constant returns to scale as a nonparametric linear approach for measuring the efficiency of production decision-making units (DMUs). The results obtained revealed that the studied Slovak companies were more efficient with better management in terms of machinery planning and overhead utilization. Markedly, the Bulgarian companies achieved better materials management and current planning quality. Increased economic efficiency of wood-processing enterprises in both countries can be realized through investments in innovative technological improvements, and enhanced research and development activities.

State budget is the main tool of fiscal policy in every country. It is the most important part of the government, whose primary function is to finance public goods. Taxes are the essential part of state budget incomes and a value-added tax (VAT) makes up most of the revenue from taxes in Slovak republic. Because of this fact, the main goal of the paper is to analyze VAT impact on the state budgets expenditures and incomes in Slovak republic. Since the establishment of the Slovak republic, there were occurred many changes in VAT rates and those changes affected the prices of goods and services. This fact influenced the amount of state budget revenues from VAT. Because of that, the goal of the article is to analyze the development of standard and reduced VAT rates in years 1993 – 2015. The paper quantified the costs related to the management and control of taxation and then evaluated the effectiveness of VAT in relation to the state budget. From the results of the analysis of the revenue to the state budget, we can conclude that despite the gradual increase of tax revenues to the state budget, the share of VAT on tax total revenues, after the increase in the VAT rate by one percentage point, did not increase. In assessing the effectiveness of VAT, we concluded that the expenditures for tax and duties collection are several times lower than the tax revenues to the state budget and collection of tax and duties can be considered as effective.

At present, forest enterprises face many challenges in adopting innovative bio-based approaches considering global changes. Due to the specifics of forestry, the choice of financing sources is a complex issue. The aim of this study is to estimate the capital structure determinants of forest enterprises in the Czech Republic, Slovakia, and Bulgaria in the context of the relationship between leverage and the factors of its appearance. The evaluation of capital structure determinants was carried out using selected indicators for 18 forest enterprises, with 6 enterprises per country. Data were processed for the period of 2015–2019. The study methodology was based on a Panel Data Analysis with Fixed Effects and Random Effect models and Ordinary Least Squares estimation. The following specific variables were included: liquidity, leverage, return on assets, size of the enterprises, and gross domestic product. The results revealed that the forest enterprises in these three countries can be differentiated by size and form individual functional relationships with the positive influence of enterprise size on liability share. The next significant determinant was found to be liquidity, which has a negative relationship with enterprise leverage. These results will be useful for managers of forest enterprises in decision-making processes to determine the amount of debt and planning investment programme strategies.

Enterprise is a place where an activity contributing to the success of a business is held. When an enterprise wants to succeed, achieve goals and to develop, employees must be in the centre of its attention. According to current trends, human resources are considered the most important of all the assets the organization possesses. Employee motivation can lead to high employee performance, effectiveness, quality, subsequent organisation success, and development. The research aimed at defming the differences in perceiving the level of motivation in terms of selected socio-demographic features was conducted in the Slovak enterprises over the course of the years 2015 - 2018. Following the achieved results, when creating the motivation programmes not only the gender but also the education completed by the employees must be taken into account by the senior managers.

Measures that have been implemented to promote green development and environmental protection are increasingly affecting the construction of family houses and hence the economic and social growth. The representatives of the Europe Regional Network of World Green Building Council claim that the building emissions in Europe create up to 36% of the total carbon dioxide production. Therefore, the application of ecological building materials can be one of the possible ways to reach equilibrium between the social-economic growth and green development. The main objective of this paper was to find out the approach of people in urban and rural settlements in Slovakia towards the question of green development in terms of selection of building material for the construction of a family house and their economic-social situation. The issue was mapped in Slovakia using the empirical survey in the form of a questionnaire. The research was evaluated using statistical hypothesis testing methods, descriptive statistics methods, and data visualization. The main economic and social coordinates were identified that influence the choice of building materials for the construction of houses. The results led to conclusions that extend the current knowledge in the field of green development and sustainability in connection with the construction of family houses and the economic–social question in Slovakia. Results indicated that ecological materials are underestimated at nearly 71%. The identified reason for the research is, besides the economic and social issue, mainly the low level of information and promotion of ecological materials that can be used for the construction of family houses, as well as the low level of support by the state of those who are interested in the construction of ecological houses. The following research perspectives in this area should focus even more deeply on the synchronization of ecological, economic, and social aspects of sustainability, not only in the construction of family houses from ecological materials in Slovakia, but also in the construction of public and other buildings in urban and rural settlements.