Chief Editor
  • Prof. Christina Nikolova, PhD
Editorial Board
  • Prof. Christina Nikolova, PhD - UNWE
  • Prof. Elka Todorova, DSc. - UNWE
  • Prof. Maya Lambovska, DSc. - UNWE
  • Assoc. Prof. Todor Nedev, PhD - UNWE
  • Assoc. Prof. Dorina Kabakchieva, PhD - UNWE
  • Assoc. Prof. Paskal Zhelev, PhD - UNWE
Scientific Secretary
  • Assoc. Prof. Aleksandar Valkov, PhD - UNWE
Coordinator
  • Assist. Prof. Veselina Lyubomirova, PhD - UNWE
International Editorial Board
  • Damian Stantchev, PhD
    Edinburgh NAPIER University, UK

  • Ivaylo Vassilev, PhD
    University of Southampton,UK

  • Prof. Irina Kuzmina-Merlino, PhD
    Transport and Telecommunication Institute, Riga

  • Milan Zdravkovic
    University of Niš, Serbia

  • Prof. Niculae Mihaita, PhD
    Bucharest Academy of Economic Studies, Romania

  • Prof. Ricardo Jardim-Gonçalves, PhD
    UNINOVA institute, New University of Lisbon, Portugal

  • Prof. Ing. Jaroslav Belás, PhD
    Tomas Bata University in Zlín, Czech Republic

  • Prof. John Rijsman, PhD
    Tilburg University

  • Prof. Ing. Zdenek Dvorák, PhD
    University of Zilina, Slovak Republic

  • Prof. Zoran Cekerevac, PhD
    “Union – Nikola Tesla” University in Belgrade, Serbia

Social Dimensions of Political Risk – SDPR: Concept and Index for Risk Impact on Society
YEARBOOK OF UNWE
year 2021
Issue 1

Social Dimensions of Political Risk – SDPR: Concept and Index for Risk Impact on Society

Abstract

Political risk concerns the profits and investment plans of international business (MNCs, FDI). The Social Dimensions of Political Risk – SDPR is an unchartered territory of political risk. Consequently, on the basis of the analysis of theories of risk, political risk, systems, values and globalization the concept for SDPR is generated. This concept is based on basic assumptions: 1) society is a system whose elements are subsystems; 2) the societal subsystem is at the core of society; 3) the relation between societal subsystem and society is such as the relation element – system; 4) political risk is systemic; 5) values are axial to the system, and their carrier is the societal subsystem; 6) laws are an artificial construct that has only a value function, but is not a value; 7) the incommensurability between values and the above mentioned artificial construct generates SDPRs that are relevant to the risk for society. A formal theoretical and analytical model of SDPR and a value triangle and conceptual index of SDPR based on it are introduced. Key conclusions pertain to the following: the need for reconsider the paradigm of democracy; greater participation of the societal subsystem; need for subsystems’ mutual restraint based on the principle of authorities’ restraint.

JEL: D7, D72

Keywords

globalization, values, political risk, system of society, social dimensions of political risk – SDPR, paradigm of democracy
Download YB.2021.1.04.pdf

ISSN (print): 1312-5486
ISSN (online): 2534-8949