Factors and obstacles determining the investments in continuing education and training of managers: the case of Bulgarian enterprises.

Purpose: This study aims to examine internal and external factors as well as main obstacles to managers'/owners' participation in education and training. Design/methodology/approach: The sample comprises managers of 151 Bulgarian predominantly micro- and small-size enterprises. The data was gathered in 2020 through direct standardized interviews at the respondent's workplace. This study uses quantitative estimation methods including binominal and multinominal logistic regression as well as nonparametric testing. Findings: Regarding the findings in the relevant studies, the results confirm that the larger firm's size, the existence of human resource management strategy and practices as well as learning-oriented culture stimulate employer-financed management training. The lack of trainers with relevant need-specific expertise appears to be a major barrier. Additionally, the outputs highlight the role of other important determinants not being extensively discussed so far such as the level of development of the region in which the company operates, involvement in R&D and innovation activity as well as the issue of trust in trainer. Practical implications: This study provides insights into (under)investments in continuing vocational training which might lead to practical implications for businesses, education and government policy in lifelong learning. Moreover, this study focuses on a country with one of the lowest participation rates in adult education across Europe which allows for a better understanding of similar examples. Originality/value: To the best of the author's knowledge, this is the first paper examining determinants of management training in Bulgaria and one of the few in the European context. It gives support to the existing literature but adds new findings as well. [ABSTRACT FROM AUTHOR]