Emotional Intelligence: Predictor of Success and Career

Advancement - A Survey of Bulgarian Digital Entrepreneurs

Ana Todorova

and Diana Antonova

Faculty of Business and Management, University of Ruse “Angel Kanchev”, 8 Studentska Street, Ruse, Bulgaria

Keywords: Emotional Intelligence, Digital Entrepreneurship, Career Advancement, Emotionally Intelligent Management,

Gender Equality, Success.

Abstract: Emotional intelligence has gone from being a buzzword to a potential prospect for business success. An

increasing body of research focuses on emotionally intelligent leadership, which fosters creativity, encourages

open communication, and cultivates loyalty among employees and business groups. Discussions about

whether emotional intelligence predicts the success and professional realization of the individual are still in

the early phase of research in Bulgarian scientific and business circles. The authors of this report allow that

emotional intelligence has a significant, positive relationship with career success and advancement. The au-

thors surveyed 1175 Bulgarian digital entrepreneurs to confirm or reject the claim. The results show that

women have more developed emotional intelligence competencies – self-awareness, self-control, motivation,

empathy and social skills. However, the analysis demonstrates that emotional intelligence is not a sufficient

predictor of career development..

1 INTRODUCTION

The common understanding of intelligence relates to

a set of skills we need to analyze and solve specific

problems. It is usually measured through tests of logi-

cal reasoning, spatial orientation, analytical or lan-

guage skills. These skills have long been identified as

key to a person's success.

Studies show that compared to pure rational intel-

ligence, emotional intelligence (EI) in leadership

plays an increasingly significant role in success at

work and personal life. Conventional wisdom posits

that a high intelligence quotient (IQ) equals success

(InitiativeOne, 2022). Nevertheless, the truth is that

in their everyday life, people cannot and should not

be divided between the emotional and the rational be-

cause emotions drive the individual to become a full-

fledged person.

Research suggests that business can go far beyond

mediocre or subpar results when the people employed

can express themselves and their creativity. This

would be feasible if beneficial emotions in business

were given the freedom to be expressed, recognized,

monitored and managed healthily for the individual

https://orcid.org/0009-0007-2993-077X

https://orcid.org/0000-0001-8726-935X

and those around them, i.e. emotionally intelligent

way. In this way, business organisations will provide

an environment filled with optimism, motivation, and

creativity, increase the prerequisites for a career fu-

ture and create a safe environment of trust and loyalty

(Dover & Amichai‑Hamburger, 2023).

On the other hand, the global development of in-

formation technologies has led to the creation of new

digital business models (Kraus et al., 2023). Digital-

ization is increasingly becoming a critical influencing

factor for entrepreneurial action, and a digital strategy

is a decisive factor in a company's success (Ilyasр et

al., 2023). Digital entrepreneurship in this study

refers to a subcategory of entrepreneurship in which

some or all business activities are digitized.

The primary motivation for the study to focus on

digital entrepreneurs (DE) is the exponential growth

of employment in the sector and the turnover gen-

erated. We are direct witnesses of how they change

entire generations and reform the way of thinking, ex-

pressing and communicating, leading and doing busi-

ness, of setting goals and strategies in entrepreneur-

ship. More and more social spheres are digitized – in-

formation and services are becoming more accessible

126

Todorova, A. and Antonova, D.

Emotional Intelligence: Predictor of Success and Career Advancement - A Survey of Bulgarian Digital Entrepreneurs.

DOI: 10.5220/0012158400003598

In Proceedings of the 15th International Joint Conference on Knowledge Discovery, Knowledge Engineering and Knowledge Management (IC3K 2023) - Volume 3: KMIS, pages 126-133

ISBN: 978-989-758-671-2; ISSN: 2184-3228

on the Internet, and digital literacy is becoming

mandatory for participation in the modern economy

and society (Move.bg, 2017).

The present study aims to establish if the degree

of manifestation of EI and its inherent competencies

are a stronger predictor of success and career devel-

opment or if the stereotypical behaviour that gender

is predetermining continues to prevail. The following

will be done to achieve the goal: (1) a study of the EI

of Bulgarian DE by demographic gender; (2) a com-

parison of the obtained values with the respondents'

success feelings; (3) conclusions formulating.

2 THEORETICAL

BACKGROUND

In today's world, digital technologies have become

essential to our daily routines. However, thriving and

achieving success in the digital era demand invest-

ments in technology, knowledge and nurturing partic-

ular skills, including EI. As digital integration deep-

ens in our lives, actively cultivating EI will gain even

more significance (Bajaj, 2023).

2.1 Emotional Intelligence Concept

ЕI is developing as social and managerial skill more

and more actively. Broadly, the concept is defined as

the ability to read and understand others in a social

context, detect their emotional response, and the

ability to regulate one's own emotions (Elayan et al.,

2023).

Recent research in the field of emotional and ra-

tional intelligence casts some shadow on the latter's

advantages. Bradberry and Greaves, co-founders of

TalentSmart® - a global think tank and consulting

agency serving more than 75% of Fortune 500 com-

panies, based on their long-term observations of top

managers and their teams, present in their book Emo-

tional Intelligence 2.0 summary analysis of their

work. The results lead to the conclusion that only

20% of the time, people with a high level of intelli-

gence perform better than those with an average level.

At the same time, employees and managers with aver-

age IQ demonstrate much better performance in 70%

compared to those with high IQ (Bradberry &

Greaves, 2019: 20).

Laura Wilcox, director of management programs

at Harvard Education School as of 2015, presents an

even more severe percentage advantage of EI over

cognitive and technical skills (hard skills). According

to her, 90% of what helps people move up the ladder

of success is their EI, even in cases where rational

intelligence and acquired hard skills are relatively

similar. She defines EI as the ability to understand

others, but also the individual to manage himself

appropriately, i.e. there is self-regulation. Wilcox

believes that a high EI, often placed in the group of

undervalued soft skills, supports highly valued hard

skills by helping individuals think more creatively

about how they might use their technical skills. EI's

other characteristics help to acquire a unique

advantage in performing standard and common work

processes: the ability for motivation and self-

motivation, resilience, impulse control, post-

ponement of pleasure, empathy, hope, optimism.

(Wilcox, 2015). On the other hand, as Nenov and

Yordanova (2013:105) point out, a person with low

EI acts without thinking about what makes the other

person operate in a certain way and is not moved by

his motives. His social integration is significantly

tricky due to his disrespect for others and concentra-

tion on his own personality.

Daniel Goleman, one of the most profound re-

searchers of EI, compares our emotional life to a sub-

ject similar to mathematics or reading, which can be

practised with more or less skill and yet requires its

own set of abilities. According to the author, the main

credit for someone’s success and others’ failures is

how we perceive and deal with challenges. EI deter-

mines how an individual uses all his other skills, in-

cluding pure (rational) intelligence (Goleman, 2011:

59).

Similarly, Bradberry et al. (2019: 29-33) define EI

as the ability of personal energy to be concentrated

and channelled in the right direction to obtain a de-

sired and maximally satisfying result. They also iden-

tify EI as the foundation of many critical and impor-

tant skills as well as essential to success, claiming that

EI is responsible for 58% of performance in some

professional fields and should be seen as a driving

force without which we cannot talk about personal

development and leadership.

Guitouni (2003: 72) also the claim that EI is not

limited to reading and managing emotions but also

causes a purification of the personality. His observa-

tions show that this release is the basis for achieving

a balance in the activity of the endocrine glands, re-

sulting in a limited release of adrenaline and cortisol

into circulation. That leads to a reduction of the

harmful effects of these two hormones on the human

body and, as a result, improves the physiological and

mental health of the individual with corresponding

economic and social consequences (lower costs,

fewer family and professional conflicts, etc.). The sci-

entist concludes that the sphere of influence of EI is

Emotional Intelligence: Predictor of Success and Career Advancement - A Survey of Bulgarian Digital Entrepreneurs

127

not only psychological but much more comprehen-

sive. EI contributes to increasing the quality of life

and overall human intelligence.

From the viewpoints and definitions presented

above, it is clear that each individual contains rational

and EI. But there is an opposition between the authors

regarding the definition, the degree of manifestation

and the leading function of each of the two types of

intelligence. That is the reason different theoretical

groups have been formed over time. Nevertheless,

they all agree that there are strong enough indicators

that EI can be just as crucial, if not more important,

than IQ. However, it cannot be stated categorically

how much EI influences the individual and his suc-

cess. The supporters of classical intelligence seriously

dispute research in this direction as a factor in achiev-

ing goals which means that the EI still needs to be

more comprehensive studies and analyses.

2.2 Digital Entrepreneurship as

Opportunity and Tendences in

Bulgaria

All signs indicate that the business as we know it is

changing. As a result, companies must search for

prosperity outside their comfort zone (Solis, 2015:

174). The possibilities and connectivity afforded by

the Internet and new technologies create a force as

fundamental as the domestication of the horse, the ad-

vent of shipping, the railroad, and the automobile

(Barn, 2012: 68).

The widespread use of the Internet and other in-

formation and communication technology tools

forced traditional entrepreneurship to adapt to new

realities and, making the most of these tools, develop

in a new, digital direction. Therefore, for the

Bulgarian entrepreneur to find a suitable place in the

global village and actively participate in the develop-

ing digital economy, he must urgently move toward

upgrading his digital knowledge and skills (Zagor-

cheva & Pavlov, 2020). Petkov defines upgrading

from conventional to electronic business as inevitable

for business development. The active and purposeful

presence of companies on the Internet is essential to

this transition (Petkov, 2016; Kostadinova, 2019).

The information economy is based on digital tech-

nologies. It is also known as the Internet economy,

New economy, Digital economy or Web economy.

Regardless of what the researchers call it, intertwin-

ing with the traditional economy is inevitable, and a

clear distinction between them is becoming increas-

ingly more complex (Efinance.bg, 2015). It is only

indisputable that the entrepreneurial function is a

significant component of the economy and has an

active role in all its aspects.

The terms digital entrepreneurship, digital trans-

formation, digital economy, as well as a home office

(also reinforced by the pandemic situation that

marked the years 2020 and 2021) have become not

only the new normal but also an indicator of a series

of transformations in the hitherto imposed beliefs,

values, judgments, behaviour and last but not most

minor – in existing business models, processes and

competencies. The entry into the digital age, also

known as the information age or the new media age,

brings with it the shift to the information economy

(starting with the rise of the Internet) and destroys

industrial value (InnoWork, 2014). The primary re-

sources that create wealth are information and know-

ledge. The wealthiest companies, such as Apple,

Facebook, Google, etc., increase their productivity by

controlling and using these resources to create prod-

ucts and services that satisfy and largely anticipate the

needs of consumers.

The data presented by the Bulgarian e-commerce

association, referring to the annual report of E-com-

merce Europe, that in 2020 the volume of online sales

(as an area of digital entrepreneurship) of the B2C

(business to consumer) services in Bulgaria exceeded

1.9 billion. BGN, and the growth of electronic pur-

chases and sales reached 8.83% until 2019, with e-

commerce: (1) in sales with a growth of about 36%,

and (2) in the area of services (including telephones

reservations and typical packages, plane tickets,

concert tickets, online games, etc.) is a drop of about

30%. Janet Naydenova, BEA president, also points

out that the share of electronic B2C traffic in Bulgaria

in the gross domestic product (e-GDP) is growing:

from 0.48% in 2014 to 1.53% in 2019. and 1.79% for

2020. This positive trend is again much below the av-

erage European value of 4-5%, as well as about what

is considered the most developed e-GDP for Europe -

Britain, where e-GDP is over 8% for the 2020,

determined as a consequence of the pandemic and as

extremely strong for e-commerce (Simova, 2021).

3 METHODOLOGY

The methodology developed for this study is based on

Daniel Goleman's model of EI (2011), with five

spheres of competence: self-awareness, self-regula-

tion, motivation, empathy and social skills. Then,

based on the degree of manifestation of each compe-

tence, the EI of each respondent was calculated, and

according to a predetermined scale, was classified as

high, average or low. The survey used questions from

KMIS 2023 - 15th International Conference on Knowledge Management and Information Systems

128

Professional Emotional Intelligence Tests by Tolley

and Wood (2020). In the study, the Motivation

component of Goleman's model is divided into Self-

Motivation (Optimism) and Motivation, and the aim

is to study the ability of Bulgarian DE to motivate

both themselves and others.

The survey aims to answer the following research

questions:

Q1: Could it be argued that EI predicts success?

Q2: Is EI a stronger predictor of career develop-

ment than gender and rational intelligence?

Q3: Does women's higher emotional intelligence

affect the proportion of women in leadership posi-

tions?

The survey was conducted from January 25 -

March 25, 2021, and is aimed at DE operating from

Bulgaria and developing in different directions. The

general population is 42,238

enterprises. The mini-

mum sample size is 381 at the 95% confidence level.

The survey form for the study was prepared with the

toolkit of the Google Forms web application and

contained 42 questions relevant to the purpose and

tasks of the study, of which 39 were closed-ended.

The form is anonymous and includes: (a) two demo-

graphic questions; (b) two questions relating to the

digital business which the respective entrepreneur is

developing; (c) two questions giving a subjective as-

sessment of how successful and motivated the res-

pective DE is defined; (d) 36 questions exploring

individual EI competencies.

The survey was carried out by distributing the

Google forms link in professional groups of DE, sepa-

rated in social networks, personal contacts with en-

trepreneurs developing digital businesses, and profes-

sional contacts with various associations and associa-

tions that include a link to the survey in their official

newsletter, among which Bulgarian Chamber of

Commerce and Industry, Bulgarian E-Commerce As-

sociation and among public opinion leaders (influe-

ncers and bloggers).

The obtained results

allow analysis and search

for correlations in two directions:

(1) by demographic gender, and

(2) depending on whether the respective DE is

self-identified as successful.

Formed by 38,238 enterprises, which represent 10.9%,

offering goods and services online https://www.

nsi.bg/sites/default/files/files/pressreleases/

ICT_ent2020_PSRP7D5.pdf (out of a total of 350,804

active enterprises in Bulgaria according to NSI data

https://www.nsi.bg/bg/content/7697/брой-на-

4 RESULTS

The survey included 791 women (67.30% of respon-

dents) and 384 men (32.70%). Table 1 shows the

summary data on the competencies of EI according to

the gender of the respondents. The final results of EI

by gender are obtained as an average of the sum

indicators for the six individual EI competencies.

Female DE demonstrate high level self-awareness,

self-regulation, optimism, motivation, empathy and

social skills, while in men, the manifestation values

of the listed components of EI are predominantly

average values.

The results show that female DE demonstrate the

highest EI (57.59%) compared to men (36.07%),

whose result fluctuates between high and average EI

- 37.41% of the respondents- men have average de-

veloped EI. On the other hand, 26.53% of the man

respondents have a low or weakest degree of manifes-

tation of EI competencies. Figure 1 visually presents

the difference in the levels of development and

manifestation of EI according to the gender of the

respondents.The results are definitive and entirely to

the benefit of women DE.

Table 1: Summary data on the EI by gender.

Competencies Level Female Male

Self-awareness

High

58.19% 36.04%

Self-re

ulation 58.68% 44.00%

timis

61.38% 44.83%

Motivation 47.12% 40.76%

Empath

67.60% 28.31%

Social skills 52.58% 22.46%

EI 57.59% 36.07%

Self-awareness

Average

32.39% 49.24%

Self-re

ulation 22.16% 22.35%

Optimis

22.02% 33.69%

Motivation 19.67% 39.78%

Empath

21.71% 38.07%

Social skills 32.26% 41.34%

EI 25.04% 37.41%

Self-awareness

Low

9.42% 14.72%

Self-regulation 19.16% 33.65%

Optimis

16.60% 21.63%

Motivation 33.21% 19.46%

ath

10.69% 33.62%

Social skills 15.16% 36.08%

EI 17.37% 26.53%

предприятия) and 4,000 freelance developers and

engineers in Bulgaria https://dev.bg/digest/tech-people

-working-in-bulgaria/

Due to the use of average values, where not applicable

(n/a), no absolute value is indicated, only a relative

share of respondents.

Emotional Intelligence: Predictor of Success and Career Advancement - A Survey of Bulgarian Digital Entrepreneurs

129

Figure 1: Summary data on EI by gender.

Although they demonstrate a much higher level of

Optimism - 61.38% compared to 44.83% (Table 1),

female DE are to a lesser extent optimistic - 30.47%

(241) of them are rather enthusiastic and hopeful

about their current professional endeavours compared

to over 39% (150) of men (Table 2). Definitely, the

feeling of Optimism also affects entrepreneurial

attitudes. Over 16% (131) of women entrepreneurs,

compared to just under 6% (23) of men, are starting a

business. Therefore, the first group of respondents is

more open to new opportunities and optimistic about

their business activities' results.

The high levels of Optimism explain the differ-

ence in why some succeed, and others fail or how the

individual perceives and deals with challenges

(Goleman, 2022). Undoubtedly optimistic people see

problems not as obstacles but as new opportunities,

which also explains the low share of women who self-

identified as Unsuccessful - 5.56% (44) compared to

over 30% (116) of men.

Relatively similar percentage - around 30% of

men feel Exhausted and Discouraged (115) and

Motivated and Satisfied (119), while there is a much

greater dissonance among women - just under 6%

(45) admit to feeling discouraged, and over 63%

(505) are satisfied with their current development.

Table 2: Data by gender and whether respondents self-iden-

tified as successful, motivated, unsuccessful, exhausted,

optimistic (with the possibility of choosing more than one

answer).

Results

Indicato

Female

(

791

)

Male

(

384

)

Successful 77.62%

(

614

)

63.80%

(

245

)

Unsuccessful 5.56% (44) 30.21% (116)

Starte

16.56% (131) 5.99% (23)

Something else 0.25% (2) 0.00% (0)

timistic 30.47%

(

241

)

39.06%

(

150

)

Motivate

63.84%

(

505

)

30.99%

(

119

)

Exhauste

5.69%

(

)

29.95%

(

115

)

Tables 3 and 4 visualize the search results, divid-

ing respondents into two groups: successful (859 or

73.1% of the respondents) and unsuccessful (160 or

13.6%) DE. The study strongly confirms the claim

that highly emotionally intelligent entrepreneurs are

more successful, but correctness requires further re-

finement of the facts. The data shows that over 70%

of successful entrepreneurs demonstrate high EI. For

the unsuccessful, the share is under 7%. In summary,

the data demonstrate that a much higher proportion of

self-identified successful DE demonstrate highly

developed EI competencies. For the unsuccessful, the

shares range between medium and low.

The distinction between successful and un-

successful entrepreneurs reinforces the power of one

particular EI competency: Optimism. For more than

77% of successful entrepreneurs, a positive attitude is

a leading skill; for unsuccessful entrepreneurs, this

share is less than 5%.

Table 3: Summary data on EI and its competencies in self-

identified as successful DE.

Successful Business

(

859

)

Indicato

hAvera

e Low

EI 70.30% 21.39% 8.30%

Social skills 65.79% 27.36% 6.85%

Empath

71.73% 16.55% 11.72%

Motivation 71.48% 17.68% 10.85%

timism 77.76% 17.68% 4.56%

Self-re

ulation 66.94% 24.35% 8.71%

Self-awareness 68.10% 27.46% 7.14%

Table 4: Summary data on EI and its competencies in self-

identified as unsuccessful DE.

Unsuccessful Business

(

160

)

Indicato

High Average Low

EI 6.86% 47.01% 46.13%

Social skills 2.92% 31.25% 65.83%

ath

10.73% 52.81% 36.46%

Motivation 13.33% 46.88% 39.79%

Optimism 4.79% 55.63% 39.58%

Self-regulation 5.52% 49.48% 45.00%

Self-awareness 3.85% 46.04% 50.10%

5 DISCUSSION

It must be admitted that the conducted research

cannot provide an absolute answer to the first re-

searcher's question (Q1). In the analysis process, it

becomes clear that the lack of results regarding the

cognitive intelligence and education of the respon-

dents does not allow us to definitively conclude that

EI directly and independently of other factors affects

KMIS 2023 - 15th International Conference on Knowledge Management and Information Systems

130

the individual's success. The data are insufficient to

support the assumption that EI alone is sufficient to

achieve successes such as high profits, promotion in

the hierarchy, number of closed deals, etc. An object

of future research would be conducting a similar but

more complete study in Bulgaria with a larger volume

of data regarding EI, IQ and the education of DE,

which would confirm or challenge the conclusions

from the data presented in this report.

But the obtained data categorically demonstrate

that the self-perception of achieved success is signifi-

cantly more pronounced in people with a higher man-

ifestation of EI and its inherent competencies. From

this, one could conclude that EI competencies impact

one's sense of success, and EI can be seen as a

success predictor.

The most striking difference is observed in

Empathy competence - over 67% of female DE have

developed the skill of empathy, i.e. they successfully

understand the emotions of others. For men, the per-

centage is almost twice as low – putting themselves

in other people's shoes is possible for less than 30%

of them. These data coincide with the results of a

2022 study by the University of Cambridge that, in

general, women are better at feeling and showing

empathy, regardless of their habitat where they live

and their cultural or family influences (Christensen,

2022; Todorova, Ruskova and Kunev, 2018).

A large distinction in the results is also identified

in the competence Social skills: more than half of the

female respondents - 52.58% demonstrate excellent

social skills compared to 22.46% of the male respon-

dents. A similar conclusion can also be supported by

a study on the topic conducted in 2016 that specifi-

cally compared the social skills of men and women.

The results show that women have significantly

higher overall self-assertion and social confidence

scores than men. According to the study's authors, the

reasons for the result can be sought in different direc-

tions, but mainly because various socio-demographic

aspects influence social skills. Among them, gender

is emphasized since the acquisition of social skills oc-

curs differently in men and women (Andretta et al.,

2016).

The research strongly supports the claim that

highly emotionally intelligent entrepreneurs are more

successful, but validity requires admitting two signif-

icant limitations. First, the claim of success or unsuc-

cess is highly subjective – entrepreneurs choose for

themselves which of the two groups they belong to.

We are not talking about a financial or materially sup-

ported perception of achieved success but rather the

personal feeling of the respondent. At the same time,

people do not put the same meaning in the concepts

of success and failure because, for each person, it de-

pends on the specific situation, set personal goals, es-

tablished value system, etc. What is meant? For ex-

ample, for a student with predominantly excellent

performance (6.00), a grade of 4.00 would be quali-

fied as a failure, while for a student with a tendency

to low scores (3.00), the same grade would be an

achievement, respectively, a success.

On the other hand, even if the statement of suc-

cess/failure is accepted precisely as the stereotypical

definition of material success, is there any reason to

claim that the particular EI is the cause that predeter-

mined the positive results? Is it possible that the result

is due to just one of the competencies of the EI

person? An object of future research may be the as-

sumption that one or more EI competencies are suffi-

cient for the success of the Bulgarian entrepreneur.

Returning to the results in Table 3, Optimism

stands out as the most developed competence of the

successful entrepreneur. This corresponds with the

statements of a number of famous leaders and proven

entrepreneurs. It is essential to specify that when

developing the research methodology, the authors

consider the term Optimism in the sense of the

entrepreneur's internal motivation and the ability to

see opportunities where others see problems.

In his book Screw Business As Usual, famous en-

trepreneur Richard Branson quotes Musa Mafongu-

ane, co-founder of Gaming Zone, who says that en-

trepreneurial people are distinguished from ordinary

people by their extraordinary motivation and ambi-

tion to develop. And also, because they can see

favourable opportunities that not everyone can see,

driven by the desire to provide employment and bene-

fit society (Branson, 2017: 61).

Failure should not be a reason for demotivation,

but a reason to change direction and revise the plan.

A positive attitude is largely seen as an innate charac-

teristic. Goleman argues that optimism and hope can

be learned because they are based on a principle

called personal efficacy. The principle is associated

with the view that one is the master of the events of

one's life and can cope with any obstacle, which can

also be taken as a definition of Optimism (Goleman,

2011: 132).

Regardless of the meaning of success, achieve-

ments lie in concrete and practically realized goals.

The research shows that this is more relevant for

female DE, i.e. it would be rational, based on demon-

strated high EI, for women to climb the hierarchical

ladder more quickly and to be given more responsibil-

ities with corresponding leadership authority. That

would logically answer the second and third research

questions (Q2 & Q3).

Emotional Intelligence: Predictor of Success and Career Advancement - A Survey of Bulgarian Digital Entrepreneurs

131

But what is observed? Bulgaria demonstrates high

indicators compared to other member states of the

European Union (EU) in terms of equality between

men and women. According to the European Institute

for Gender Equality the Gender Equality Index of

Bulgaria for 2020 is 59.6 (at 67.9 for the entire EU)

and 59.9 (at 68 for the whole of the EU). This gives

reason to claim that the principle of gender equality

in Bulgaria is respected, and the opportunities for

hierarchical development do not depend on the

gender of the candidate. A careful look at the reports

of the Institute does not support this conclusion: (1)

Board members of largest companies (%, the first

semester of 2020) in Bulgaria - 17% women (com-

pared to 29% for the EU) and 83% men (compared to

71% for the EU); (2) Share of members of boards in

largest quoted companies, supervisory board or board

of directors in Bulgaria for 2021 - 13% women (com-

pared to 30% for the EU) and 87% men (compared to

70% for the EU).

The same indicator observes a negative trend in at

least two directions: on the one hand, the percentage

of women occupying senior management positions is

decreasing by 4%; on the other hand, we are lagging

behind the average values of the EU countries by 17%

(EIGE, 2020/2021).

Globally, research (Catalyst, 2022; Ariella, 2022)

shows that in 2021, 26% of all CEOs are women, and

the proportion of women in senior management posi-

tions has risen to 31%, which, although the highest

percentage registered to date, is still a low share com-

pared to men. Even more striking is a cited Fortune

Global 500 report, which reports its all-time high of

23 female CEOs, less than 5% of all included in the

list. A year later, this share increasing to just under

9%, which remains a negligible share compared to the

91% male CEOs (Ghazi, 2022). Catalyst also cites an

analysis of over 1,100 organisations by Mercer in

2020, which shows that the higher up the corporate

ladder one surveys, the fewer women there are: 37%

of middle management teams, 29% of senior manage-

ment and only 23% of CEOs are held by women.

In addition, research on emotional intelligence in

Bulgaria is still too few. The article enriches the ac-

cepted theoretical basis and allows more correct fu-

ture comparative analyses. By its nature, the study

does not aim to deepen the opposition between gen-

ders in career development but to shed light on a real

problem in Bulgaria. Recent publications indicate that

81% (44% EU average) of Bulgarians believe that a

woman's place is at home to take care of the home,

but not at work. Many women are forced to choose

part-time employment or compromise their career as-

pirations (Tsvetanova, 2023). The practical applica-

tion of the findings presented in this report would

allow the expansion of business education in the field

of EI to achieve gender equality and career develop-

ment based on competencies, not stereotypes.

6 CONCLUSION

This report attempts to measure the EI of Bulgarian

DE and to confirm or reject the assumption that EI is

a predictor of success and development. The conduct-

ed research categorically confirms that EI competen-

cies contribute to the individual's sense of success,

and this is particularly strong among female respon-

dents.

It must say that women have much more devel-

oped self-awareness, self-control, motivation and op-

timism, empathy and social skills, they are more com-

municative and optimistic. However, a number of

studies prove that, due to their gender, men remain

preferred for leadership positions. Therefore, in

Bulgaria a stronger predictor of career development

remains an individual's gender rather than his EI.

Female DE demonstrate high EI, while average

values prevail among males. All other things being

assumed equal, such as IQ, education and social

opportunities, ladies have a severe advantage in the

form of more developed EI. Theoretically, there is no

reason to question their hierarchical growth. How-

ever, the statistical data presented at the end of the

fifth section on the leadership positions held by

women and men do not support the stated statement.

The research draws two main conclusions: (1) EI

could be a strong predictor of success but not career

development; (2) a stronger predictor of career

development remains the gender of the individual.

Practice shows that competencies such as motivation,

optimism, empathy, and communication skills - i.e.

the components of EI, are neglected, probably at the

expense of stereotypical perceptions of the more

vigorous sex. In conclusion, it can be argued that in

the 21st century, stereotypes and inculcated cultural

beliefs are valued and weigh more heavily in critical

decisions like who and how to lead. Emotionally

intelligent management is still a mirage.

ACKNOWLEDGMENTS

This research is supported by the Bulgarian Ministry

of Education and Science under the National Program

"Young scientists and Postdoctoral Students - 2".

KMIS 2023 - 15th International Conference on Knowledge Management and Information Systems

132

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