Development of leasing in construction

The object of research in the present study are the construction companies and the relations that arise between them and other business entities in connection with the lease. The subject of the research is the process of leasing as a form of financing of construction companies in this country. The aim set by the author is based on a comprehensive study of the use of leasing by construction companies in theoretical and practical aspects to identify opportunities for improving leasing relations in the construction business in Bulgaria within the country’s European integration. The thus formulated main goal presupposes carrying out the following scientific tasks: 1. Studying and analyzing the theoretical basis of leasing in construction. 2. Studying the economic environment and the state of the construction sector in the country and on this basis establishing the factors favoring the development of leasing in construction and identifying existing problems. 3. Assessing the degree of use of leasing in construction and studying the preparedness of construction companies to participate in specialized structures to support leasing relations. 4. Developing specific guidelines and recommendations for the development of leasing relations in construction. The methodological basis of the study is the systematic approach, which requires the definition of leasing as a complex aggregate concept and a new organizational form of financing of construction companies with its inherent principles and features. This requires the application of methods of analysis and synthesis to identify and assess the benefits that leasing provides to enterprises in the construction sector. Statistical and mathematical methods have been used in the processing and systematization of the empirical data. A number of conclusions have been made using the methods of induction and deduction - mainly in revealing the prospects and opportunities for the development of leasing in construction. The legal documents regulating the leasing relations in this country have been identified, and the conclusions and recommendations made are compliant with them to a maximum degree, i.e. a normative approach has also been made use of. Based on the research, the following important contribution points of scientific and applied nature can be highlighted: 1. Based on a theoretical analysis of the specialized literature, the economic content of leasing is clarified and an additional definition of the term "leasing" is proposed. 2. The specific features and characteristics of leasing in construction are outlined and on this basis the classification of the types of leasing in construction has been improved. 3. As a result of a survey and application of the developed methodological tools, the state, problems and prospects for the development of leasing in construction have been revealed. 4. An improved system for institutional support of leasing in construction has been substantiated and an improved mechanism for managing leasing in construction has been proposed. 5. A model for optimal dynamic management of leasing in construction has been adapted and tested, through which the best timing for terminating a lease and taking a new one for the same or another type of asset, with the same or another lessor, can be determined.