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The existence of tax havens is an integral phenomenon of the modern stage of the world economy development. They compete with each other on the basis of tax rates, privacy level, quality and speed of the service offered. Determining the impact of tax havens is now a rather pressing issue, deepening which has largely contributed to leakages of information, particularly the Panama Papers. However, the leaks of information from tax havens are not sufficiently covered in the research of both domestic and foreign scholars. The article is aimed at examining the impact of tax havens and the Panama Papers information leak on the world economy. The definition of tax havens and their scale in modern conditions of globalization economy is considered. In the systematization of scientific works the relatively different leaks of information from tax havens were compared and the largest of them was identified. The essence of the activities of Mossack Fonseca, the company that was the victim of the data leak, is disclosed. The dynamics of registered offshore companies within the framework of the Panama Papers leak are substantiated. With the help of a mathematical model, the authors computed a trend vector of movement of the number of companies, which are using the services of offshore zones. As a result of regression trend analysis, it was defined that the number of companies registered by Mossack Fonseca tends to grow (an average of 292 units annually). This indicates that, despite the publication of classified information, the popularity of tax havens continues to increase. The main intermediary countries, which are most popular in tax speculation, are provided. It is determined that the simplicity of formalization and registration of companies, the lack of control over subsidiaries of multinational business groups are key attributes of the activities of tax havens that contribute to their use to avoid paying income taxes and money laundering. The consequences caused by the activities of tax havens and information leaks from them have been formulated. The most important among them are: sanctions provisions and monitoring of offshore activities.

In the context of the growing global concern for sustainable economic growth, the importance of managing limited natural resources and minimizing the impact on the environment is becoming increasingly evident. In this direction, joint efforts must focus on developing an economy that meets the needs of the present without jeopardizing the ability of future generations to meet their own needs. To achieve this goal, eco-innovation becomes essential, by promoting the development and implementation of innovative technologies aimed at supporting resource efficiency and reducing the negative impact on the environment. In this context, the paper aims to analyze the role of eco-innovation in resource efficiency, where the author presents and explains the interdependence between the 2 concepts in the context of sustainable economic growth. At the same time, the paper aims to analyze the activities undertaken by companies from the Republic of Moldova in terms of resource efficiency and the impact of climate change on strategies. The methodology is based on the survey method, methods of analysis and synthesis of data interpretation and relevant comparisons. The research results illustrate different ways in which companies are adapting to changes in their environment, including climate change, and various efforts to improve resource efficiency, which remain very modest. This underlines the importance of developing and implementing resource optimization strategies within companies, through eco-innovations, while monitoring the impact of these strategies, which is a way to respond to permanent challenges in the business environment and to contribute to strengthening a more sustainable economy.

The article deals with the development and implementation of a financial model of exports in the context of strategic planning of foreign economic activity of enterprises. The model described in this paper aims to measure, analyse, evaluate and propose improvements to administrative processes by identifying various variables involved in strategic foreign trade planning. This paper is a survey that is being developed for export activities in Ukraine. Exports in Ukraine were analysed to test the methodology and to build an additive model. The model empirically shows the links that exist between the internal functions of a company and its ability to generate performance management indicators and business dynamics as a way to improve processes in strategic foreign trade planning. Some relevant findings from the first two stages of the empirical research conducted to date are presented. Validation has proven that the use of the methodology of strategic planning of foreign economic activity allows you to compensate for investments in new resources by increasing the number of operations carried out eliminating delays and attracting new customers as a result of improving the client's perception of the quality of service. During the audit, it was possible to determine that the delays created in the activities of support systems increase their negative impact on the process, consuming the slack of many actions of the central system and delaying their implementation, negatively affecting foreign economic activity. The model will be useful for enterprises engaged in foreign trade.

The reform of economic management systems should be recognized as a long-term process, with gradual enhancements and innovations made in practical application, ultimately promoting sustainable enterprise development. This study delves into the internal mechanics of enterprise economic management innovation, primarily examining the aspects of planning and organization, within manufacturing enterprises like Midea Group. This paper extensively explores the relationship between the formulation and management of long-term and short-term plans, the philosophy of management, the current state of production management, and the overall development strategy within the field of enterprise economic management. It primarily emphasizes the following three points: 1) Enterprises must adjust their management philosophy to align with their development trajectory, the dynamically changing market competition landscape, and the evolving contours of the contemporary environment; 2) The trajectory from low-efficiency to high-efficiency production management is closely linked to the production budget and decision-making processes of enterprises; 3) The prevalence of internal strategic management within enterprises and the optimization level of resource allocation play a pivotal role in measuring the innovation quotient of internal planning management. Simultaneously, this paper places significant emphasis on the analysis of organizational innovation structures, indicating that enterprises should establish sound management systems to enhance internal efficiency and competitiveness. Moreover, enterprises should align themselves with market dynamics and trends, avoiding risky behaviors to ensure the long-term success of economic management practices. Additionally, enterprises must continually innovate and adjust organizational structures to adapt to market changes and development requirements, thereby achieving sustained growth.

This article delves into the strategic imperative for Ukrainian higher education institutions (HEIs) to align with the European Education Area (EEA), a process underscored by the Ukrainian Strategy for the Development of Higher Education for 2022-2032. The integration into the EEA promises manifold advantages for Ukrainian education, economy, and society, including adherence to European standards, accreditation recognition, and expanded opportunities for students and educators. This paper conducts a comprehensive analysis of recent research and publications, highlighting the need for innovation in higher education to enhance the competitiveness of Ukrainian science in the European context. The article stresses the role of HEIs in forming an innovative infrastructure that interlinks their internal structure and external relations, thereby enhancing educational outcomes. The article identifies key unresolved issues, including the systematic and purposeful process of educational innovation required for effective integration into the EEA. The paper sets objectives focused on creating conditions for seamless integration into European educational standards and approaches. It also presents a detailed analysis of the European experience in innovation, highlighting various programs and areas that aid in the integration of European higher education. Furthermore, the article discusses the negative factors impacting innovation management in Ukrainian universities due to European integration, ranging from funding discrepancies to the impact of war. Conversely, it also outlines the strengths of Ukrainian universities, such as their resilient adaptability and strong STEM foundations, which can be leveraged in the context of European integration. In conclusion, the paper argues that the integration of Ukrainian higher education into the EEA is a strategic step that requires a comprehensive and systematic approach. It calls for future research to analyze the synergies and discrepancies between European and Ukrainian educational standards and to examine international risk management practices in educational governance.

This article examines the concept of integrated sustainability management and its relationship with corporate social responsibility (CSR) and environmental, social and corporate governance (ESG). Although CSR is a normative concept that requires companies to be responsible for their participation in society from an ethical perspective, ESG helps measure and quantify these efforts, primarily through investment criteria. The paper identifies that sustainability reporting (SDR) can bring financial, reputational, risk management and strategic benefits to companies, and more companies recognize the importance of sustainability reporting and making it a priority in their business practices. This study presented grouped classifications of the benefits of ESG disclosure in corporate reporting. The main problems faced by Ukrainian companies during the implementation of ESG criteria in their activities are highlighted, in particular: limited awareness and lack of understanding of ESG issues, lack of standardized ESG reporting, improper disclosure of ESG information, weak compliance with existing regulations, insufficient coverage of ESG issues in mass media information, etc. This article also suggests some measures that should be taken to solve the mentioned problems. The paper highlights the relationship between sustainability and financial performance, a widely debated topic. Some argue that implementing sustainability practices can have a positive impact on a company's financial performance in the long term, while others argue that sustainability practices can have a negative short-term impact on financial performance. In addition, the analysis of major meta-reviews that analyze and summarize research findings on the relationship between ESG reporting and financial performance is highlighted. These meta-reviews show that there is indeed a positive relationship between these metrics, although the strength of the relationship may vary depending on a number of factors, including industry, geographic location, and company size.

The paper aims to assess changes in the public perceptions of European Union values in Ukraine in the conditions of external aggression. It explores how conflict escalation affects the public views in different groups, and changes attitudes and beliefs regarding adopting European Union values in society. The paper analyses the concepts of value and demonstrates the devaluation of cultural and social values in some population groups. The methodology applies a survey based on online interviews and descriptive statistics methods. The Schwartz methodology in the World Values Survey 2020 is used to create a survey questionnaire. An online survey of Ukrainians’ worldviews of European Union values perceptions was conducted for Ukrainian citizens in all regions except for the territories, occupied in 2022. The survey results highlight the trend of commitment of a major part of Ukrainian citizens to European Union values. The research demonstrates the inconsistencies in the importance and satisfaction of social values and stereotypes, compliance with the law, personal freedom and human rights, level of economic freedom, and commitment to European integration. These contradictions will be resolved through the development of favorable conditions and of beliefs and convictions of people that support the adoption and dissemination of European values.

Purpose: The study analyzes the evolution of Business Model Innovation (BMI) in the IT sector, which is mentioned in many available scientific publications. The major output of this paper is concrete customer requirements that invite business model innovations to managed IT services and challenges to establish corresponding business model innovations. Design/Method/Approach: The study identified more than 200 journal articles and conference articles with BMI and IT service providers, and it conducted a mapping review of current research to identify relevant academic theories, implementation strategies, and BMI in the managed IT service sector while highlighting gaps in empirical research. Findings: Most applied are BMI and the framework of dynamic capabilities in business models of IT services. Early movers, who develop a comprehensive platform strategy, can achieve an invulnerable moat and establish a leading market position. Practical Implications: The insights of this study could be applied by large companies, small- and medium-sized companies and start-ups, researchers, etc. They can use the insights to innovate their current business models and improve tailored client solutions. Originality/Value: The study concludes that business model innovations and IT service providers develop areas for future success. Research Limitations/Future Research: The design of the study is based on a systematic literature review and limited to the areas of BMI research in the IT service sector. For further research projects, individual articles can be chosen to perform in-depth analysis. Our trend analysis shows the focus on main technologies. However, this can be compared with the technologies mentioned in the Gartner Hype Cycle. Further research could be conducted to overcome limitations and cover the uncertain content of this research. Paper Type: Conceptual.

With economic and social progress, the focus of regional unbalanced development has evolved. In the new era of socialism with Chinese characteristics, people’s aspirations for a better life are no longer limited to material and cultural necessities; the notion of a better life has become increasingly diversified, transcending individual or family micro-level welfare to embrace a comprehensive perspective of societal development. Focusing on the ethnic regions of Southwest China, this paper examines the fundamental characteristics of their coordinated economic and social development and offers relevant policy recommendations that provide a theoretical framework for scholars studying balanced regional economic growth. This study describes the characteristics of balanced economic and social development in Southwest China’s ethnic regions in four dimensions: sustainable economic growth, social stability, ecological civilization construction, and people-centered development ideology. Through comparative analysis, it presents a synthesis of domestic and international research, and summarizes the theoretical foundations and practical experiences essential for the future development of Southwest China’s ethnic regions. This paper examines four key elements for the development of ethnic regions in Southwest China. First, it emphasizes high-quality economic growth, which increases total factor productivity through supply-side structural reform and promotes the establishment of a modern industrial system. Second, social stability, a crucial component in realizing a better life, requires strengthening social justice and strengthening the social security system while maintaining national unity. Third, the paper stresses the importance of building an ecological civilization and advocates green technology, green industry and green consumption to achieve sustainable development. Finally, a people-centered development ideology safeguards livelihoods and focuses on education, income distribution, employment, and other areas. This paper explores the basic characteristics of coordinated economic and social progress in Southwest China’s ethnic regions, and provides a theoretical framework for scholars to explore balanced regional economic development.

Introduction. This paper studies the role of the monetary policy in the economy of the state, as one of the main instruments to support it’s financial potential, both at the period of military conflict as well as in the period of recovery after it. Methodological bases are general and special methods of scientific research, including synthesis, analysis, modeling, comparison, etc. The main information sources were the resources of World Bank Open Data, the data of National Bank of Ukraine and state statistics service of Ukraine. Purpose. The main purpose of this paper is to study and analyse macroeconomic methods and instruments, which were used by different countries in the post-conflict recovery period and theoretical implementation of using these instruments in Ukrainian reality. Results: The strategy of synchronizing the actions of the central bank and the government must be adjusted according to the peculiarities of post-conflict economic recovery of each country separately. The studies of macroeconomic indicators of countries, that successfully overcame the consequences of military actions show the main role of the central bank in stimulating economic growth of the country. Conclusions: To further solve the problem of post-conflict recovery of state's economy, the perspective direction would be to build effective strategies of cooperation for the institutes, that perform monetary and fiscal policies, that would have a direct impact on the effectiveness of economic growth and the development of national security of the country.

Purpose: Values and emotions conveyed via stories may show the contrasts and similarities between people's life experiences. Personal experiences must be shared to be understood, which may aid in forming connections and support networks. Design/Method/Approach (only for empirical papers): This study used a secondary research strategy. Findings: Throughout this study, the author makes the case that narrative is critical to effective organisational management and leadership. However, meaningful and creative in developing qualitative research in management, the growth of story methods has resulted in a lack of consistency in the field. Practical implications: Although the literature acknowledges the significant emotional and psychological advantages associated with using storytelling in studies, there has been no evidence of a link between improving human adaptability and using storytelling in research. Throughout this study, the author makes the case that narrative is critical to effective organisational management and leadership. Although essential and creative in developing qualitative management research, the growth of storey methods has resulted in a lack of consistency in the field. Originality/Value: This paper addresses the application of storytelling to organisation management and how storytelling is used as a tool for qualitative research. Research limitations: The research was primarily focused on secondary research and, therefore, could be limited to previous research findings.

In order to optimise the process of prepress engineer work, it is necessary to provide a high-quality display of the line image, which ensures the most accurate transfer of the geometric dimensions of individual elements. The purpose of the article was to determine the degree of influence of the binarization threshold on the resolution value of raster line images. The experiments were based on the use of general scientific methods of analysis, generalisation, classification, deduction. To assess the quality of line image reproduction in this paper, photoforms were employed using a line test object which was designed as an accurate photograph with the use of an optical density distribution profile. The paper examines the influence of various parameters of raster structures on the playback quality of reproductions. The specifics of using a photo output device as the main link, which ensures the reproduction quality of image details, have been determined. The geometry of the raster structure when using rotation angles with rational tangents has been analysed. Features of the Accurate Screening technology have been systematised. The difference between “rational” and “irrational” rasterization methods has been considered. The main aspects of the use of line details in the reproduction process have been considered. The proposed method for assessing the quality of a line image reproduction with an uneven edge has been called the “signal-to-noise ratio” method, and it has been concluded that the scanning stage affects the quality of image reproduction to a greater extent than the photo output. The practical result of the work is the development of recommendations that can find practical application in reproduction processes. The developed binarization algorithms allow processing of images with significant zonal brightness unevenness, with monotonous brightness areas, and highly noisy images

Purpose: This research work attempts to review the effect of determinants like perceived uniqueness and perceived healthiness as well as attitude amongst the consumers on their purchase intention of organic food, which subsequently results in the actual purchase. Design/Method/Approach (only for empirical papers): Quantitative approaches and explanatory research are used in this study. This research data was collected by means of a questionnaire distributed across a sample of consumers living in Indonesia. Online survey was used and conducted in November 2022 in Indonesia to measure this research. The sample, which was collected through online survey using Google Form, consisted 780 participants and was representative of gender, age, and region. Actually 800 participants were contacted to participate in the survey, but only 780 participants responded to the online survey. Findings: The first objective of this study was to test the ability of the extended VAB model to explain the consumption of organic food products by Indonesian consumers. The results show a good fit of the data. The third hypothesis has been confirmed, because attitudes are closely related to organic food consumption. Organic food products were considered and perceived as something that unique and natural; therefore, they created a favorable attitude on the part of the respondents. Theoretical Implications: The study contributes to the existence literature on organic food products especially about variables used in this study. In addition, in this study, consumers' perception of organic food products as unique, natural, healthy and sustainable was positively related to their overall attitudes. Practical Implications: Given the high production costs and limited quantities of organic food products, marketers should present and promote (through packaging and stories) organic food products as have a unique quality and should emphasize their natural character. Originality/Value: This paper providing a comprehensive overview and linking the literature on organic food consumption to the Values Theory and the Theory of Planned Behaviour, including the role of perceived uniqueness and healthiness. The proposed integration of perceived uniqueness and healthiness in an organic food consumption model leads to interesting hypotheses and recommendations for policy makers, researchers and stakeholders involved in the organic food market. Research Limitations/Future Research: this study provides a good indication regarding consumers’ attitudes, perceived naturalness, and perceived uniqueness of seaweed food products. However, as only 55% of the respondents had consumed seaweed food products, the attitude and beliefs of 45% of the respondents were not based on actual experience, but on expectations and beliefs. We believe consumers’ attitudes and beliefs may differ after trying seaweed. Therefore, it would be interesting to study eventual variations in attitudes and beliefs before and after trying organic food products. JEL Сlassіfіcatіon: D11, m31, Q13

Purpose: This study aims to determine the current state of research on partner management in the context of IIoT platforms that rely on partnerships to act as innovation engines. Design/Method/Approach (only for empirical papers): The applied research method is a systematic literature analysis supported by a concept-centric synthesis. The sample of relevant literature comprises thirty papers. Findings: The results indicate that only a few frameworks exist to improve and professionalize partner management in the practice and only a few papers focus on IIoT platform ecosystems. In contrast, there are some articles that empirically examine individual determinants of partner management in detail. Based on these results, a conceptual framework is derived to organize and distinguish the determinants of partner management from the determinants of partner programs necessary to realize partner management. Theoretical Implications: The study contributes to the research stream on partner management in IIoT platform ecosystems and enterprise software ecosystems, synthesizing the existing research and highlighting the importance of curated support of partners as a competitive lever between platform ecosystems competing in the same domain. Practical Implications: Practitioners can use the derived framework to structure partner management activities and make more informed decisions based on the structured view of decisions summarized in the conceptual framework. Originality/Value: Due to the critical role of complementary partners in innovating upon IIoT platforms the framework is an important foundation for further research on the individual determinants of partner management in the context of digital platforms. Research Limitations/Future Research: The derived conceptual framework was not empirically validated. Empirical follow-up research could refine the framework and develop it into a taxonomy using systematic procedures. Paper type – conceptual. JEL Сlassіfіcatіon: M15

In terms of the formation of the world trade multipolar system, the issues concerning the implementation of a protectionist trade policy appear especially acute and are the primary focus of both theorists and practitioners. This paper primarily aims to explore trade protectionism in the global economy in conditions of multipolarity, to identify the vectors of the war in Ukraine's influence on policy in the sphere of food trade, to determine the origins of the WTO crisis in the system of multilateral regulation of international trade and to assess the prospects of further ensuring free trade doctrines, which is based on combinatorial approach and included the calculation of quantitative indicators of foreign trade restrictiveness and estimation of qualitative parameters of shifts in foreign trade policy. The empirical findings indicate high dynamism of increasing new trade restrictions, in particular export ones, caused at first by the COVID-19 pandemic and later by the war in Ukraine; slow but constant increase in import restrictions, so that at the end of 2022 9% of global import was affected by import restrictions; growth in export restrictive measures on food, feed and fertilizers as a response to food security challenges, caused by the war in Ukraine. The current paper reveals the necessity to take into account import dependence indicators and import capacity of export in formulating vectors of transformation of foreign trade policy towards national production support in the context of economic nationalism ideology. The authors emphasize the importance of the WTO dispute settlement system and the failures in its implementation call into question the possibility of organization functioning in the existing format, particularly as the number and spread of RTAs surged. Prospects for further research in this area are the assessment of macroeconomic effects and threats of the unilateral opening of the Ukrainian economy for imports against the background of the protectionist policy of "main players" of the world economy, determination of the potential of the protectionist policy of selective types of economic activity implementation in the conditions of post-war recovery.

Introduction. The article examines the issue of the digital transformation of Ukrainian businesses. Despite the existing developed sector of information technology, domestic companies have a low level of digitalization of their activity. The methodological basis of the study were general and special research methods, including methods of theoretical generalization, analysis, synthesis, comparison and others. The information base of the study was the data of the State Statistics Service of Ukraine, National Bank of Ukraine, research of international organizations, scientific papers and other open sources. Purpose. The purpose of the article is the identification of trends in the digitalization of financial and economic activities of companies in Ukraine and the development of recommendations for improving the implementation of information technology. Results. The problem of poor access of domestic enterprises to the Internet has been identified. The largest share of companies that have websites was in the field of information technology (57,1% of all companies in the industry in 2021). The volume of sold products (goods, services) received from e-commerce in Ukraine is projected to increase to UAH 736,97 billion in 2023. The tendency to increase the share of enterprises that use cloud computing services (like using software for accounting and finance, file storage, database hosting) has been determined. Conclusions. The paper develops the main ways to improve the digital transformation of Ukrainian business: 1) creation of business site (very critical for industries with a high value of having a website); 2) providing all employees with access to the Internet; 3) improving the functionality of the website (following market trends); 4) assessment of the feasibility of purchasing a cloud computing service depends on business's specific; 5) providing the opportunity for payments by smartphones and other NFC devices when making contactless payments; 6) transition to sending invoices in electronic form purchased for automated processing (depending on the customer base).

Purpose. The paper aims to examine the impact of the oblast center on regional socio-economic development in the context of the center-periphery relationship. Methodology / approach. The general scientific methods (analysis, synthesis, generalization, systematization, graphic method) and special ones (statistical analysis, comparison, organizational and managerial modeling) were the basis of the methodological approach. The author improved the scientific-methodological approach to the comprehensive evaluation of a region’s socio-economic development in terms of the center-periphery relationships based on interrelated stages and methods. It stipulates the research of the impact each district of a region has on the major socio-economic parameters of an oblast; calculation of the District Socio-Economic Development Index and its comparison with the district’s distance to the oblast center; evaluation of interdependencies between the districts’ shares in major socio-economic parameters of respective oblasts and their distance to the oblast center; and analysis of the development intensity of the oblast districts depending on their distance to the oblast center. Results. Testing the scientific-methodological approach on the example of three oblasts of Ukraine (Lvivska, Poltavska, and Chernihivska), which are developing in different spatial-geographic, socio-economic, and demographic conditions, has contributed to substantiating the features of generation and development of the center-periphery relationships in the regions with different initial development conditions; outlining the areas of socio-economic centers’ impact on the districts; detecting the intensity of positive stimulus generation and their absorption in the region considering the role of local “growth poles” in the process. Originality / scientific novelty. The paper further develops the theoretical-methodological foundations of researching the center-periphery relationships in a region at the oblast center – oblast area level. The results of calculations following the author’s methodological approach have allowed developing the space structure for Ukrainian regions under research in the context of the center-periphery relationships. Practical value / implications. The conducted research based on the methodology developed by the author is quite important both in terms of the scientific-methodological aspect and in the context of addressing the important regional development tasks and searching for balanced and coherent spatial development.

Purpose. The purpose of the article is to substantiate theoretical-and-methodological provisions for building investment portfolios in agribusiness by the criterion of minimizing environmental risk of selected investment-financing strategies. Methodology / approach. In the article, on the basis of the dialectical method of cognition, the following methods were used: abstract-logical – in the systematization of scientific papers on the problem of diversification and optimization of the agricultural investment portfolio; system analysis and comparison – in the study of portfolio theories and concepts; computational and constructive – in the analysis of environmental-and-economic factors of the profitability of agricultural land use; economic-and-mathematical modeling – in the process of modeling the optimal portfolio of agri-environmental investments by the criterion of minimizing the risk of a particular investor, caused by the action of soil degradation factor in Sumy region. The materials of the Main Department of Statistics in Sumy region and the Sumy regional branch of the Institute of Soil Protection of Ukraine have formed the informational basis of the research. Results. The optimization of the agri-environmental investment portfolio is due to the modification of the approach by the American Economist H. Markowitz “risk-return analysis” and its adaptation to the conditions of real investment. The paper uses a conservative approach to investment, which involves the construction of portfolios on the criterion of minimizing investment risk due to the influence of soil degradation for a particular investor. This factor requires the determination of the investor’s environmentally related risk, which manifests itself in the following directions: a) a decrease in crop yield due to the action of the factor of high soil pH; b) a decrease in the sales price for crop products because of contamination with heavy metals; c) an increase in the cost of agricultural production in deteriorated ecological conditions. Evaluation of agribusiness investment attractiveness on environmental-and-economic grounds provides for the consideration of the above areas from the standpoint of state, banking, foreign investment and self-investment. Assessment of investment quality identification is performed on the basis of calculation of the investor’s income elasticities to environmental risks on the example of Sumy region, which provides investment rationality decisions in the field of agricultural land use, considering environmental factors. It is substantiated that the highest investment quality is characterized by the bank’s investment financing strategy. Originality / scientific novelty. The methodological approach to the definition of investor’s environmental risk in agricultural land use is improved. It is calculated considering the influence of factors of environmental destruction of land and soil resources (soil pH, pollution with heavy metals, etc.) on sources of profit, as well as with the definition of returns on investment resources (crop yield, ecological sales price, and income). The system of environmental-and-economic indicators in the formation of the investment portfolio is substantiated, including the following: the structure of investments, which is developed considering the influence of the environmental factor; portfolio investment risk due to environmental factors; and the investment portfolio yield adjusted for the level of environmental risk which provides an assessment of the investment attractiveness of agricultural land use on an environmental-economic basis. A methodical approach to substantiate investment decisions in the agriculture of the Sumy region is proposed, which along with considering the environmental factor, is in calculating the elasticities of investor’s income to the environmental-and-economic risks, which increase the correctness of financial decision-making. Practical value / implications. Theoretical-and-methodological provisions and conclusions obtained in the study can be used to justify the direction of investment capital in the field of agricultural land use, considering the level of environmental-and-economic constraints.

Purpose. The purpose of the study, which results are submitted in the article, is to analyze the vertical price transmission along the milk supply chain in Ukraine and identify whether this price transmission is symmetric or asymmetric in terms of direction, magnitude, speed. Methodology / approach. To achieve the purpose of the study, we used the following research methods: logical operations (analysis, synthesis, induction, deduction) – to determine the structure of the milk supply chain, to make conclusions about main findings; the correlation analysis – to identify the tightness of links between farm’, processors’ and retailers’ prices; the trend modelling – to build the functions of the trend of prices of different levels of the milk supply chain; the regression modelling – to construct the regression functions of prices of downstream sectors of the milk supply chain; graphic – for visual presentation of main tendencies, pricing and price dynamics in the milk supply chain. The research was performed on the basis of the statistical data of the State Statistics Service of Ukraine for 2013–2020. Results. This paper presents the empirical evidence of asymmetric price transmission along the milk supply chain in Ukraine. The results of modelling proved asymmetric magnitudes of price growth at the organizational and technological stages of the milk supply chain: in the case of the farm prices of raw milk increase the processors’ and retailers’ prices grow up by a much bigger magnitude. There is no leg in price transmission in the milk supply chain, the price shocks at the farm level instantly pass to processors’ and retailers’ prices. The evidence of asymmetry of price transmission testifies the weaknesses of the market positions of farmers and consumers in the milk supply chain in Ukraine, points out the threats for the food security and sustainable development of all agents of this chain. Originality / scientific novelty. For the first time, the quantitative assessments of the magnitude and speed of the price changes in the process of price transmission in the milk supply chain in Ukraine were obtained. The asymmetry of the magnitudes of the vertical price transmission in the milk supply chain in Ukraine was identified. The hostage position of farmers in the case of price shocks was further proved. Practical value / implications. This paper provides a better understanding of arrangements of market forces in the milk supply chain, the consequences of price chocks in the upstream sector of the milk supply chain. The practical value is the methodological and empirical support for the development of regulative measures to improve the milk supply chain’s functioning and sustain food security. Assessment and analysis of the mechanism of price transmission reveals the weak parts of the food supply chain, contributing to the scientific foundation of elaborating the necessary policy actions for harmonization of relations between producers of different stages of the milk chain.

Estimation of export potential is a basis for development and adoption of managerial decisions in the management of an enterprise export activity development, which is one of the perspective direc¬tions of foreign policy of Ukraine. Due to this the purpose of the paper is to justify the methodology of evaluating the export potential of an enterprise based on the key indicators of its export activity development, taking into account the results obtained, to formulate general directions of intensifi¬cation of exports of machine-building enterprises. The object is to assess the export potential of an enterprise and make managerial decisions to enhance its export activity. In order to determine the indicators that should be used in evaluating the export potential of an enterprise, the method of ex¬pert evaluation of T. Saati, based on the system of pairwise comparisons of certain characteristics by the levels of the hierarchy, is used. The list of indicators that were evaluated by experts was formed on the basis of the theoretical synthesis of the scientific papers. These include indicators of produc¬tion, financial, investment, innovation and direct export business. The indicators obtained through export analysis were used to calculate the integral indicator of export potential development for the enterprises of the machine-building industry. As a result, the level of export potential of the studied machine-building enterprises is determined, the general directions of activation of their export activ¬ity are offered.

The paper highlights the results of scientific research on the issues of training highly qualified logistics and supply chain managers, justification of directions, and development of practical mechanisms for its improvement. The paper is based on scientific literature analysis, comparative analysis, and case study research. It is established that modern global trends and changes in society and the economy lead to the emergence of more extended requirements for the training of highly qualified managers able to effectively perform specific types of work in accordance with the needs of society and the labour market in the field of logistics and supply chain. In this context, the issues of applying a competency approach when training future logistics and supply chain managers and the formation of a competency model that meets the modern requirements of the labour market are considered. A review of scientific literature has been carried out regarding the main theoretical foundations of forming competences and competencies in the process of professional training of logistics and supply chain managers. Attention is focused on the need to form basic core competencies, including models of basic professional competences and competencies that are key ones in the professional activity of specialists. The main models of competencies of the company's specialists, which make it possible to ensure effective management of modern companies, are highlighted. The experience of training future logistics and supply chain managers in Ukraine is studied. The expediency of applying a competency approach when training future logistics and supply chain managers in Ukraine is substantiated. A conceptual model of a multi-level national system of professional training of logistics and supply chain specialists is proposed. A T-shaped model of the competencies of modern logistics and supply chain managers is developed.

The article assesses and forecasts the impact of corruption on the state's economic security. By using theoretical and historical analysis the paper substantiates the relevance of studying the corruption influence on the state's economic security in war conditions and establishes the importance of such activity in the conditions of Ukraine's European integration aspirations. The article reveals the main reasons for the high level of corruption and the corruption of the highest-level officials. Moreover, the article offers a methodology for assessing the impact of corruption on the economic security of the state and forecasting the level of this impact. The methodology consists in calculating the values of several indicators that reflect the impact of corruption on public activity and the effectiveness of anti-corruption measures and forecasting the value of these indicators for the future period to establish the level of influence of corruption on the economic security of the state. Because of using the methodology, the paper calculates the index of perception of corruption in Ukraine in dynamics and contains a forecast of its value for the period of 2023-2027. Therefore, the study determined the level of the shadow economy in Ukraine and the forecast for the period of 2023-2027. Moreover, the article calculated the index of ease of doing business in Ukraine, and its forecast for the next 5-year period. The final stage of the analysis was the establishment of the dynamics of the index of economic freedom for business representatives in Ukraine, in addition to the feasibility of forecasting this index for the period 2023-2027. The results of empirical calculations made it possible to establish the level of influence of corruption manifestations on the state's economic security during the war. Accordingly, forecasting the values of these indicators makes it possible to assess post-war trends and their impact on the state's economic security in order to counter potential threats and eliminate them in a timely manner.

The purpose of this paper is to describe and analyze the issues of openness and transparency of the budgeting process in the defense and security sector in Ukraine, which results in effective spending of budgets. After Russia started a full-scale war against Ukraine, the international community is providing Ukraine with numerous financial support packages and ammunition. Therefore, one of the most important issues is strengthening the democratic control over the budget process in the defense and security sector of Ukraine, taking into account the new principles of information openness and its classification as a state secret. Here, the need to develop standards for transparent budgeting and the introduction of an open indicative system for monitoring and evaluating the budget process in the defense and security sector is particularly relevant. The article provides an empirical description, uses data obtained from expert discussions and multidimensional evaluation approaches on openness and transparency of the budget process in the defense and security sector to enhance the effectiveness of military budget spending. The paper develops conceptual approaches to ensuring the efficient use of budgetary resources in the defense and security sector by generalizing the practical implementation of the open and transparent budgeting principles, development of effective mechanisms for budget oversight, and compliance with standards of public accountability. The paper focuses on the need for the implementation of budget transparency standards referring to the priorities of the Military Security Strategy of Ukraine with particular attention to the issues of openness and transparency of financial reporting at budgetary institutions. The study proves the prospects for the introduction of transparent budgeting standards in the defense and security sector, which is a fundamentally new approach able to strengthen corruption prevention and, in combination with other hybrid defense tactics, the military provision. The study is performed under the project “Openness and transparency of budgeting in the defense and security sector of Ukraine”, supported by the Ministry of Education and Science of Ukraine.

The paper examines the risk-return ratio of the ESG ETF as a basis for developing an investment strategy that has become necessary due to the shock caused by the COVID-19 pandemic. ESG Investing is taking into account environmental, sociological and governance factors along with financial factors when making investment decisions. ETF Investing means an index fund whose shares are traded on an exchange. Research has shown that almost 75% of respondents around the world integrate ESG and ETF into their investment approach. The ESG segment demonstrates an increase in investment attractiveness mainly due to the assumption of sustainability. Therefore, the hypothesis of stability in the shock period was a prerequisite for our study. One of the methods used was comparative analysis. Different approaches to risk assessment helped to analyze each group along with the expected return. Among the basic concepts of measuring financial risks in the theory of expected utility, the concept of variability, the concept of sensitivity and the concept of losses in adverse situations, the study focuses on identifying variability and assessing losses in adverse situations. The results were evaluated and compared before and after the shock. This paper also studied a pair of indicators characterizing the shock period, namely the depth of shock and the level of recovery to assess the risk-return ratio directly in the shock period. The results showed differences in risk assessments. The main overall consequence is that ESG ETFs are likely to be affected by shocks, but in the post-shock period there is a fairly rapid recovery. Applying risk-return analysis methodologies, we came to the following conclusions: ETFs show an increase in risks, the pandemic did not change catastrophically, which contributed to a rapid recovery. The study has shown that the dynamics of the risk-return ratio for investments with high implementation of the principle of E, S, G is growing. The results obtained can be applied in the practice of forming portfolio investment strategies.

The paper examines the existing methodological recommendations for assessing risk of financial institutions of non-bank financial services market participants. In particular, the focus is on the activities of financial companies, which are the largest non-banking market participants. The purpose of the study is to develop an approach to risk assessment of financial companies. The methodological basis for achieving the goal is a systematic analysis of the existing provisions of the regulator on the criteria for assessing the risk of financial institutions. The paper examines in detail the state of the modern risk assessment system in accordance with the criteria developed by the regulator, identifies key shortcomings of the recommendations and proposes to supplement the existing list of indicators that were taken into account by the previous regulator. An analysis of the legislation on the availability of quantitative indicators for assessing risk of non-banking financial services market participants was carried out, which made it possible to offer an expanded list of criteria for achieving the research goal. The expediency of the proposed system of quantitative indicators for assessing the risks of activity is confirmed by the existing actions of the regulator, which partially coincide with the proposed provisions. The developed recommendations provide an opportunity to improve the risk assessment system both for inspections by supervisors and for financial institutions seeking to strengthen preventive measures for their management.

The paper focuses on the acute problems of systemic financial risk in the economy of China posed by the real estate sector. In the event of collapse, the world's second-largest economy of this Asian giant, deeply integrated into the global system, can trigger spillover effects and a new global economic crisis. It is therefore important to deepen understanding of the internal mechanisms of systemic financial risk accumulation in the Chinese economy. We research the microfinancial roots of systemic financial risk and macroeconomic mechanisms of its accumulation and materialisation after it has reached a critical level. Microfinancial roots of systemic risks are connected with excessive growth of financial leverage. We suggest a mathematical model of the optimal level of financial leverage and its safety threshold for the companies in the real sector including the construction and development sector. On the macro level, the paper presents a comprehensive dynamic scheme of non-linear relationships in the real estate industry, which unwind self-reinforcing cycles and lead to the accumulation of systemic financial risks. The main driving force of these processes is the institutional mechanism that we call collateral accelerator. Under certain conditions, it plays the role of a powerful internal destabiliser of the economic system and provokes the unwinding of self-reinforcing cycles in the real estate market, the households’ finance, development companies, and the banking system. The results of the research can help shape the optimal macroprudential regulatory measures to minimise systemic financial risks and ensure financial stability without suppressing economic growth.

The paper assumes that deportation is one of the kinds of migration, particularly forced migration, e.g. refugees. The necessity of research arises as millions of people were affected by deportation last century and much more previously. Even nowadays, deportation still occurs. Nevertheless, it has little attention from publicity, specifically from political and scientific communities. Therefore, the paper aims to provide theoretical justification and reveal historical evidence to describe this practice, its purpose and scale, and its impact on deportees. We pursue that deportation has to receive more attention, especially from international organisations like the UN and IOM. Special bodies within this organisation have to be created to help victims of deportation, similar to refugees. The paper starts with building up the theoretical justification by analysis of definitions of "deportation" provided by other authors, its characteristics and peculiarities. Further, we continue with the comparison of deportation and other types of forced migration. Finally, we provide a definition of deportation. The second part of the paper reveals historical evidence of deportation from ancient history to modern times, including nowadays.

Under modern conditions, the problem of achieving marketing and business goals is actualized for companies in all sectors of the economy. Digital marketing plays a key role in effectively solving this problem. The purpose of the paper is to highlight the features of the development of digital marketing tools in the context of product promotion on social media platforms. The article highlights the features of planning and implementation of digital marketing in the context of the tasks of promoting goods and services in the digital space. The key role of digital marketing in the implementation of the company's marketing and business tasks is emphasized. The paper highlights a number of trends in the development of digital marketing tools in the context of digitization and changes in the socio-economic environment. The importance of considering the evolution of digital marketing tools in the context of the development of the exogenous and endogenous environment is emphasized. The directions of changes in the digital marketing paradigm are outlined in historical retrospect. The stages of the evolution of digital marketing in the context of marketing and market management are formulated. It is proposed to consider digital marketing as a new paradigm of company management in the conditions of comprehensive digitalization. The peculiarities of digital marketing in terms of individual social networks have been revealed. It is proposed to profile the main social media according to close criteria, which made it possible to place them in priority places in the configuration of the digital marketing company's complex. The most advanced toolkit of digital marketing is considered. Emphasis is placed on the importance of the efficiency principle in the development of the company's digital marketing complex within the framework of the tasks of promoting goods and services in social networks. The results of this study may be useful to practicing marketers, marketing directors, top managers and owners of small and large businesses, and researchers in the field of digital marketing. Prospects for further research are the analysis of the features of the use of digital marketing tools to strengthen the integration of digital channels, as well as the identification of the features of digital marketing tools during a period of significant socio-economic turbulence in Ukraine.

Purpose: this paper is to present the activity of an enterprise in the context of a case study by presenting this case study as a research method. Findings: Some of the most important findings are the entrepreneur's personality characteristics, previous experience in the relevant field, the prominent initiative and high level of risk-taking, his open-mindedness, entrepreneur takes care of the creation and preservation of the business reputation under the slogan: Family, work, satisfaction, as an important condition for the establishment of good human relationships. Practical implications (if applicable): The paper reflects the successful path of the entrepreneur in focus, which despite the hardships, he realizes his individual vision and fills the needs they see in society by bringing new products or services into the marketplace. Originality/Value: The paper analyzes the birth, growth, and development in given conditions of a concrete enterprise and this emphasizes the deeply original character of the study. Research limitations/Future research: However, the paper analyzes a concrete case and this constitutes a limitation.

Purpose. The purpose of the present paper was to gauge the extent of the impact on earnings management derived from the adoption of International Financial Reporting Standards (IFRS) 17 as well as detecting whether the impact will be similar in different European “Insurance” and “Reinsurance” industries. Design/Method/Approach. To provide empirical evidence that earnings management is more frequent in some country and less frequent in others by means of a statistical analysis, a sample of European listed “Insurance” and “Reinsurance” companies in the period 2018-2020 was observed. Findings. That being said, the lesson learned from this study is that the implementation of the new principle, written to discipline the accountancy of insurances contracts, and its consequences, must be carefully analyzed and monitored by the regulators, as well as correctly adopted by managers, as the determined revenues could have an impact on the pre-existing earning management practices. Theoretical implications. The paper of the present research also concerns the predictions on the behavior of managers that can be foreseen considering the agency theory; therefore, knowing ex-ante in which industries earnings management has a high impact, provides the option to foresee the hypothetical moves of the managers in the implementation of IFRS 17. Originality/value. Specifically, companies belonging to two sectors were selected: “Insurance” and “Reinsurance”. The Jones Model was applied. The statistical analysis brought to light that earnings management practices are “commonly adopted” in the “Insurance” and “Reinsurance” industry, which is consequently highly impacted by the introduction of IFRS 17. Research limitations/Future research. The total number of observations is high, all companies analyzed belong to only two industries. The analysis could be extended to a greater number of industries and companies in order to provide a more complete overview of the presence and the persistence of earnings management policies in different European financial companies typologies. Paper type – empirical. JEL Сlassіfіcatіon: G18, G22, G28, G30, G32.

The paper is aimed at studying different pillars for the development of long-term and short-term strategies in the field of sustainable development and corporate social responsibility. The paper underlines the key differences between the concepts of sustainable development, corporate social responsibility, and ecological, social, and corporate governance. The study aims to highlight the key differences between sustainable behavior and mimicry, i.e. masking the results of companies' activity under the global or local trends in corporate social responsibility. The article focuses on studying key systems for measuring the sustainable development level. Therefore, the results of the world's leading companies have been analyzed according to the main ratings of the sustainable development level. The paper presents the empirical study of the activities of the leading Ukrainian companies in sustainable development, compares their results with those of less successful companies, examines the general situation in Ukraine. Despite the relatively high sustainable development level of the leading players in the Ukrainian market, the companies that had a lower position in the sustainability ranking got lower scores by the key components of evaluating the sustainability level. The research emphasizes the complexity of measuring the sustainable development level of enterprises, and also proposes an integrated system for evaluating the sustainable development level of enterprise, based on a combined list of components used by different analytical companies. The expediency of a more detailed monitoring of the Ukrainian companies’ activity, aiming at detecting and counteracting mimicry, is substantiated. The paper proves the necessity to develop a comprehensive measurement system for determining the sustainable development level, which will provide the most accurate evaluation and recommendations for business development.

Purpose. The purpose of the study was to economically evaluate the condition of animal husbandry in the Republic of Kazakhstan and also to determine the necessity and possibility of the creation of an effective meat hub. Methodology / approach. The following methods were used: economic analysis and synthesis, comparison and analogy, systematization and generalization, factor analysis, institutional analysis, and modelling that helped identify problems of the livestock industry, and ways for its development. Results. The paper presents the results of the analysis of world and regional production and consumption of livestock and poultry; import and export of meat products in Asian countries, including Kazakhstan; the dynamics and structure of livestock in farms of different categories; the dynamics of gross income of livestock production of the republic; SWOT-analysis of efficiency of agricultural enterprises. Studying the meat market trends in the world and in the Republic of Kazakhstan, and also the dynamics of production and consumption of meat and meat products is a basis for argumentation when choosing strategically important measures on application of forms and ways of control, creation of the economic forecast, definition of the basic vectors of effective development of this industry in the long term taking into account influence of factors of various nature. Originality / scientific novelty. The study makes an original contribution by providing a comprehensive, evidence-based analysis of the current state and future prospects of Kazakhstan’s livestock sector, while proposing innovative structural solutions through a specialised meat hub to improve productivity, quality and competitiveness. Practical value / implications. The study suggests the need to enhance meat production to meet domestic demand and boost exports. Achieving this involves innovating meat processing and sales, improving animal productivity through genetic advancements, enhancing infrastructure, and establishing livestock centres. Ongoing monitoring of the meat market is essential for crafting strategies to improve the livestock sector. Besides, creating a “meat hub” model will reduce investment and operational expenses for production units, streamline production based on set standards and consumer demand, enhance product liquidity, and augment income for small entrepreneurial forms.

In the past, there was a lot of traditional enterprises of a great success for a long time, but today, under the rapid development of the social economy, they have to change to cope better with the possibility of the problem, they must be in information technology and digital technology put more money on, they need to combine information technology and management activities. Agriculture is the basis of the sustainable development of the national economy, the necessary demand of human beings, and the basis of human survival. Therefore, the construction and application of information technology have become an important research topic in the new era. Through the research of this paper, we can understand better how to combine digital information technology with enterprise management. The current research applies such analyses as: logical generalization and сomparison that include clarifying and simplifying the concepts of digital technology and enterprise management; expert evaluation, statistical analysis, data grouping and summary aiming at the research on enterprise market situation, identification, and development of digital technology; factor comprehensive analysis as the method of improving efficiency and productivity by applying digital technology in management; and economic mathematical modeling competitiveness model analysis. The application of computer technology can make information digitization. All the information generated in the operation of enterprises, such as enterprise personnel files, enterprise customer resource information, business financial situation, etc., this huge information, if according to the traditional method, will undoubtedly need to consume more human, material, and financial resources, and low efficiency, increase the cost of work. If computer technology is used to process enterprise information, it will be faster and better to digitize information, facilitate information integration and improve work efficiency, and this information will be very easy to be invoked later, avoiding wasting time to search, and greatly saving human resources. The results analyzed and compared by the author are very useful for the empirical evaluation of the survival and development of Chinese enterprises and even the sustainable economic development of the whole country, and can also provide a reference for the future development and transformation of Chinese traditional enterprises. Based on this, the paper puts forward the methods, and the countermeasures of sustainable economic development in the face of the rapid economic development today. The method proposed by the author can achieve the following results: it can better promote the development of China's economy and can provide substantial help for the transformation of traditional enterprises.

The work is devoted to describing an application of the DeGroot model in the following analysis: is it possible to establish a consensus of opinions of members in a social group (a society). This model describes the process of changing the agents’ opinion about a certain event or statement, factoring in the effect of interpersonal trust between agents, which is modelled by Markov chains. Agents’ opinions are represented by the probability of them showing their support to a given statement (event). The interpretation of the DeGroot model is quite broad. It includes, in particular, the study of economic decision-making, the influence of public opinion on people and the fact of achieving a consensus. The paper considers the conditions under which the process of updating the opinions of agents, belonging to a social group (network), converges to a certain limit value - a consensus, i.e. a case when all agents in a social group have the same opinion on a particular issue. We also show some generalizations of the DeGroot model, namely those that concern adding time dependency to the rules of updating the opinions of agents. To test the DeGroot model, we implemented the two-dimensional case as a dynamic Microsoft Excel workbook. The paper describes 2 types of problems related to reaching a consensus, solved with the model. The first kind of problem constitutes an analysis of possibilities of obtaining the desired consensus with a given matrix of trust (interpersonal trust of agents), whilst changing the initial group members’ opinions vector about an event (statement). We also discuss a solution of the inverse problem: find the trust matrix such that the iterative opinion update process converges to the desired consensus with a given initial vector of opinions. The results we obtained may be used for analyzing the process of managing public (collective) opinion concerning certain economic decisions in a social group (network).

Purpose. This paper evaluates the involvement of three selected agricultural commodities (rice, coffee and soya) in international trade. The aim is to analyze the specification of foreign trade in selected commodities and assess their different significance between representations in domestic markets and exports. This article will also assess other contexts related to international trade in these three commodities, including the negative effects on their trade. Based on the set goal, a research question was asked which evaluates the different position of the examined agricultural commodities on world export markets in relation to domestic consumption. Methodology / approach. The theoretical anchoring of the issue under study are the approaches taken to international economic relations with the emphasis on the specific features of agricultural trade. The methodological framework of the present study is based on the systematic analysis of the spatial distribution of production capacities, the territorial analysis of exports and imports within the world agricultural market and qualitative evaluation of the specifics of selected export commodities and their role in the economy of countries, including labour market importance and in the possibilities of their use. Results. The paper presents the results of the involvement of the rice, coffee and soya in international trade analysis. Most rice production is consumed on domestic markets. Unlike rice, most of the coffee produced is exported and less is consumed within the growing countries themselves. Although domestic coffee consumption is increasing, more than 70% of world production is exported. Soya bean production has increased significantly over the past 50 years as a result of the rising demand for animal feedstuff and biofuels. Almost three quarters of soya bean production is consumed as feedstuff. Originality / scientific novelty. The main contribution of the article is in the application level the elaboration of a comparative view of three selected agricultural commodities. At the theoretical level of the study, it represents a contribution to the discussion within the approaches to the organization of global agricultural trade, the interdependence of economic policies of states, trade ties and the impact on labour markets in relation to production. Agricultural commodities remain an important item in world international trade. However, their share in the total volume is gradually declining. They play an important role in the maintenance of individual countries, but at the same time they are of great economic importance, although we can also mention the less positive aspects of their production, including their impact on the environment. At the same time, it is necessary to realize that this sector is essential for human survival and also that agriculture is important from the point of food security for the population, which can contribute to and increase the level of agricultural protectionism (resilience to world market disruptions or uncontrolled import of genetically modified (GM) food and the transmission of animal diseases). Agriculture is one of the most sensitive economic sectors in the world. Nevertheless, agricultural exports have several economic benefits, including stimulating a wide range of agricultural-related industries, transport suppliers, processing and farm inputs. Practical value / implications. The production of agricultural commodities is of great importance to the economies of individual states, where it contributes to the creation of direct, indirect and induced jobs. The agrarian sector is a key sector, especially for less developed countries. The analysis confirmed the high tradability of all commodities examined and is documented by their involvement in the international division of labour in the global projection.

In the conditions of growing requirements for methods and means of combating negative phenomena of society, prevention and deterrence of corrupt actions of officials by creating new and editing old normative legal acts can significantly limit the development of such offenses and have a positive effect on the economic state of the country. The urgent task is to develop simple and effective methods of modelling and assessing the level of corruption orientation of normative legal acts. The paper examines the problem of quantitative assessment of the negative phenomenon of corrupt activity of officials, which can be stimulated by regulatory and legal acts. The purpose of the article was to improve the methods and techniques of analysis of the process of assessing the quality of normative legal acts by modelling their corruption orientation. The methods of fuzzy set theory and fuzzy logical inference, as well as the methods of probability theory are used in the process of modelling the quantitative assessment of the level of corruption oriented legal acts. The proposed approach makes it possible to simultaneously take into account separate criteria that are based on subjective assessments and have uncertainties of various natures, and are also characterized by a large number of them with their inequality and antagonism. At the same time, the modelling process provides the possibility of using both a clear and unclear representation of the initial data, reduces the influence of subjectivity of expert evaluation factors of a heuristic nature. There is no need to determine the weight of each individual factor when forming a global criterion for deciding on the level of corruption orientation of a normative legal act. On the basis of the obtained values of the global criterion, a decision is made to choose one or another variant of the normative legal act. The paper examines the stages of implementation of the proposed approach to assessing the level of corruption orientation of the normative legal act on the reclamation of forestry lands disturbed as a result of amber mining. The results of the work can be useful in the development of drafts of new legislation, as well as for researchers of methods of control and management of complex technical and economic systems

Purpose. The paper aims at finding out how significantly stakeholders are consulted and involved by preparers, Ukrainian publicly-listed agricultural companies, while compiling sustainability reporting (SR) and by assurance providers, during assurance processes of SR. The paper’s main research question may be formulated as follows ‘How deeply stakeholders are involved at Ukrainian agricultural companies in the preparation of their sustainability reporting and assurance?’ Methodology / approach. The study utilizes widely used techniques in this field content analysis of sustainability reports based on suggested coding rules which in turn grounded in the leading literature. Authors use a multidimensional coding system (with a maximum score of 12 points) which consists of three elements and offers an aggregate assessment of the information disclosure of the involvement of stakeholders in sustainability reporting. Also authors base on frameworks for classification of the stakeholders’ engagement level into three levels (information, response and involvement strategies). The paper’s sample although tiny, only five years/company observations, is comprehensive since it includes all Ukrainian agricultural companies presented in GRI SDD database one of the largest databases of its kind. To analyze only the latest relevant experience, authors have limited the report type to the latest GRI modification – GRI Standards. As a result of five steps in the sample formation process, it is equal to 3 companies that produced 5 reports in the period between 2017 and 2019 years. Results. While the used coding structure allowed for a maximum of 12 points, the analysed reports were able to reach only half of this as one report earned 7, one – 6 and the rest was marked with 5 points. From the three companies from our sample frontrunner is Astarta Holding. Astarta Holding excels in materiality relevance (4 points) and is the only company assured its sustainability report. Authors find that the engagement strategy of the companies being analyzed mostly consists of action intended to inform (level 1) as well as consult and support stakeholders (level 2), whilst deep involvement strategy (level 3) is being almost neglected. In regards to focus, we find that the most cited stakeholders in engagement actions are on level 1 employees, consumers and suppliers. Consumers also alongside authorities and local communities are the most cited stakeholders on the level of response strategy, whereas the authorities are the single stakeholders' group being honoured to be treated on the highest third level. The authors’ general impression is that for the most part legitimacy theory is the best theory to explain the behaviour of compilers of reports from the sample because mostly management uses rhetorical tools to cover its activities, while the reporting itself lacks specifics about negative externalities. For authors, it looks like an exercise in self-legitimization. It appears that the companies studied has not yet fully performed the transfer from ‘stakeholder management’ to ‘stakeholder engagement’. It is the authors’ understanding that all this has roots in the very perverted perception of sustainability reporting as a continuation of financial reporting although it is not. In financial reporting, materiality is defined internally as a percentage of some indicators in the balance sheet and/or statement of financial performance, in sustainable reporting, materiality is not only important in the assurance, but it is a cornerstone in the preparation of SR itself. Originality / scientific novelty. To the best of our knowledge, this study is the first that extends the analysis the stakeholders’ engagement in the sustainability reporting to the Ukrainian agricultural companies, thus shedding some light on that unexplored (underexplored) practice. Practical value / implications. First, sustainability reporting practices in Ukraine is in its infancy, and therefore any shortcomings identified will be a guide to action to adjust these approaches in the future. Secondly, our analysis can also be seen as the dissemination of best practices. The companies we have chosen are pioneers in this matter, so they can at the same time be considered as role models for others, but taking into account the experience gained by them. Besides, in addition to companies, our findings can be useful for regulators and public authorities alike in terms of adjusting the approach to regulating this area.

Purpose. The purpose of the article is an identifying the impact of regional water management dependence on economic growth in the region. Methodology / approach. The subject of the study is theoretical and methodological basics of a new scientific paradigm for regulation the development of the regional socio-economic systems under the conditions of limited water resources. The study used traditional and special research methods, including: historical and logical – to analyze the evolution of regional socio-economic systems under conditions of limited water resources; abstractions and analogies – to reveal the essence of water-efficient regional socio-economic systems in the modern processes of regionalization and globalization; theoretical generalization, analysis and synthesis – to specify the categorical apparatus; statistical analysis to assess the level of needs of regional socio-economic systems in water resources and create an index of regional water management dependence; method of correlation analysis (biserial correlation, using a point biserial Pearson’s correlation coefficient). Results. The main idea of the paper is to study the issues of development of regional socio-economic systems under the conditions of limited water resources. Considering this, the paper is aimed at studying the impact of regional water management dependence on economic growth in the region. The tasks for development of regional socio-economic systems on the basis of water efficiency are defined, as well as the concept “water-efficient regional socio-economic system” is defined. The study presents a hypothesis about the need to change the paradigm of regulation of regional development on the basis of water use efficiency and regional water management dependence. In order to trade effectively with the main crops, it is necessary to determine whether there are sufficient water supplies in a given country and its regions. For this purpose, the authors proposes to use own indicator, such as the index of regional water management dependence. Thе characteristic of water management dependence is given, from regions where only up to half of the water supply of the territory is used, and to regions where more than 100 % of the water supply of the territory is used. The research has updated that the expansion of knowledge and understanding of the specifics of the water sector can solve significant problems. It is proved that the economic growth of the Ukrainian economy due to the agricultural sector has its limits and is limited by the water management dependence of the territories, ie the limitation of certain territories of the regions of Ukraine in terms of water resources. The next effective economic growth is possible only through the implementation of water-efficient technologies and intensification of water-efficient activities in the region. Originality / scientific novelty. The study for the first time defines the concept of water-efficient regional socio-economic system, so it is a socio-economic system that provides for the restoration of water resources in the region, reducing the water intensity of gross regional product (GRP) and approaching European norms and proposes the classification of regions according to the index of regional water management dependence on the basis of its threshold values. A scientific and methodological approach to assessing the level of needs of regional socio-economic systems in water resources has been improved, based on the application of the index of regional water management dependence, which is proposed to calculate the ratio of total fresh water use in the region to the volume of available river runoff in the region (parts of the water potential). The classification of regional socio-economic systems according to the level of water supply has been improved, which is based on the definition of threshold values of the index of regional water management dependence. The methodological bases for assessing the impact of the spatial economy on regional development under conditions of limited water resources have been improved, which differ in substantiating the dependence of the level of development of regions on the available water potential of the territory. Practical value / implications. The results of the study allow a more comprehensive approach to the study of the problem of using water resources in Ukraine in the context of their limitation. The results of the study showed that the economic complex in most regions is water-intensive and unbalanced, as well as does not provide restoration of water resources by environmental parameters and requires the implementation of infrastructure schemes for redistribution of water resources between regions for economic activity. The results are recommended for consideration by local governments and regional administration for the development and implementation of “Regional programs for the development of water management in the region” and for the development of “Strategies for regional development until 2025–2027”.

Purpose. The purpose of the paper is to study agriculture development in independent Ukraine using methods for decomposition of data sets to obtain structural components according to their level of determination and to investigate main tendencies without random fluctuation. Methodology / approach. This research uses econometrics methods of regression and correlation dynamics, data filtering from random factors impact, comparison method to reconstruct trends in agriculture development. The accent is made on the differences between results of analysis on the base of uncleaned and purified data. The cleaning process was made by the Hodrick-Prescott method for data sets decomposition without loss of information into several functions that describe behavior of system formed under deterministic, periodical, and stochastic influence. The calculations and their visualization were held by means of GNU Octave. The research covered the period of 1996–2018 years in development of agriculture, forestry, and fisheries in Ukraine. Results. This paper emphasizes on the necessity to clean data before its analysis. Unlike the analysis based on the raw data the reconstruction of relationships between filtered data sets allows building models of agriculture dynamics more precisely. The article presents reconstructed main correlated dynamics that were formed by deterministic impacts in Ukraine agriculture. Besides, the crucial turning points in Ukraine agriculture development were revealed because of analysis of filtered data. It is shown how data cleaning raises analysis quality. Originality / scientific novelty. Reconstruction of economy regression models on the dynamic data sets can be followed by the risks of wrong interpretation of results. To have correct explanation of regularity it matters to eliminate from data sets the fluctuations formed by random impacts and to study relation of tendencies in connection with structural shifts in the development of the country. The advisability and the necessity to use such approaches are proved by this research that was held on the base of statistical data from World Bank official site. It is the first reconstruction of the long-term agriculture dynamics of Ukraine on the base of filtered correlated data sets of 1996–2018. The main advantages of this research are the revealed turning points in Ukraine agriculture development that can be used by other researchers in investigation of economy and economic history. Practical value / implications. To raise precision of analysis and avoid wrong interpretation of outcomes it should be taken into consideration all factors that impact on events and thus it is rational to verify data and clean them from random oscillations especially studying long-term tendencies in the development of such systems as economy branches or country entire. Moreover, it helps to reveal peaks of growth and recession points in business activity and make more coherent predictions on the future development. The article presented the effectiveness of filter methods applying and results of analysis that can be used in management and forecast of long-term development in Ukraine agriculture. Such methodic can be applied to the analysis of both individual industries and the economy as a whole.

Purpose. The purpose of the paper is the formation of economic principles of rural “green” (ecological) tourism in the process of decentralization of power as a catalyst for local economic development, identification of the causes and factors that contribute to or inhibit its development, and justification of financial mechanisms to stimulate its development. Methodology / approach. The methods of analysis and synthesis of information and dialectical method as well as the method of economic analysis and statistical method are the methodological basis of the study for highlighting the economic importance of rural “green” (ecological) tourism. The study is grounded on the application of correlation and regression analysis of the dependence of the number of tourists served by tour operators and travel agents on the GDP of the state per capita. Correlation and determination coefficients are used to assess the quality of the constructed linear regression model. The statistical significance of the model is tested on the basis of Fisher’s F-test and Student’s t-test. Results. The paper provides the authors’ interpretation of the term rural “green” (ecological) tourism as a type of tourism, which is a trip of tourists to natural, rural untouched by human, and protected areas based on the rational use of nature for educational purposes and for recreation, which corresponds to the concept of sustainable development. The state of rural green tourism in 2012–2019 is analyzed. The state of tourist activity on the example of the Rivne region in 2000–2019 is analyzed. Originality / scientific novelty. The relationship between the number of tourists served by tour operators and travel agents from the GDP of the state per capita is established. For the first time, the priorities of rural “green” (ecological) tourism development are formed, the factors of positive and negative influence on the example of specific destinations in the process of decentralization reform are identified and generalized. The principles of inclusive tourism development are improved. The principles of forming the strategic development of tourism on the basis of actual strategies at the national and local levels are further developed. Practical value / implications. Preconditions for improving the nature reserve fund as a basis for the development of rural “green” (ecological) tourism are formed. The improvements for the "Green Road Tourism Development Strategy “The Honey Circle” for 2018–2022" as an important tourist destination based on new tourism products are suggested. The advantages of inclusive tourism development are outlined.

This study would be significant, especially for Trade Unions and shipping lines, and to make newcomer professionals more aware of the nature and alternatives available for labour compensation. This paper contributes to readers’ empirical and practice insights on maritime labour, law and professional practices, including management issues and implications. In addition, professionals involved in maritime labour matters like maritime lawyers, mediators, Insurance professionals and Trade Unions. Practically, this paper is structured as a teaching case study. It provides case-related descriptions, industry practices, legislative frameworks, and fundamental teaching rights facilitating as a teaching material, especially for domains on labour tribunals, maritime law, and labour compensation in related human resource aspects. The following objectives were taken into consideration in this teaching case study paper: to follow and assess the gaps where legislation has to meet to receive compensation for seafarer families; to create awareness of the current situation regarding compensation; to determine the future recommendations to make Union work more strategic. This teaching case study would observe the gap between the legislation and what is occurring in the practical scenario after seafarer recruitment during compensation policies. To present this case study, several relevant institutions, programs and scientific research were considered to increase union efficiency. The main conclusion of this paper highlights the importance of the union and the other programs, policies and strategies that should be adopted to make awareness of these issues.

The basis of better organization of production, strengthening the competitiveness of the business entity in the market, the formation of its image in the socio-economic environment is marketing and marketing communications. The article considers the theoretical foundations of the complex of marketing communications of a special purpose airline with consumers of agricultural aviation services. The target consumers for the special purpose airline in the market of agricultural aviation works are agricultural enterprises. This paper proposes the use of aviation method of plant protection, which is effective for both special purpose airlines and agricultural enterprises. The main component of active influence on the target market of agricultural aviation services is the marketing support of a special purpose airline. Using the «four P» and «four C» models in the development of marketing strategies, a set of marketing elements for a special purpose airline is presented and the impact of marketing communications on the activities of a special purpose airline is determined. Each participant in the market of agricultural aviation works gets the effect only when the consumer benefits from the provided aviation services. The paper proposes a scheme of interconnection of participants in the market of agricultural aviation works, which shows the components of the effectiveness of the process of agricultural aviation works for each of its participants. Thus, marketing support for the effectiveness of agricultural aviation work is a measure carried out by a special purpose airline to attract potential consumers (agricultural enterprises) to services developed, implemented and provided in the field of agricultural aviation agricultural aviation works and aimed at attracting consumer attention and information, persuasion, reminders. ways to meet their needs and quality of services, which allows you to compare similar services, stimulate consumer demand. The scheme of realization of a complex of marketing of the airline of special purpose at performance of agricultural aviation works is developed.

The paper reviews information on the formation and development of a new form of employment — digital one — and identifies its impact on the country’s place in the global dimension. The overall objective of the study is to verify the trends of digital employment in Ukraine and assess its place and role in the global distribution of the digital workforce. The literature review indicates a lack of research on the gap between the level of technological development of the country and the use of digital employees in the national economy. This is particularly imperative for developing countries, which technologically remain far behind, and to which Ukraine belongs. The scholars used a certain sequence to conduct the study of this issue, particularly: at first, in accordance with the characteristics of digital employment, the authors identified the types of business where the largest number of digital workplaces is concentrated. Secondly, the researchers analysed the statistical indicators of digital employment in Ukraine for 10 years and revealed the development tendencies of this segment. Thirdly, the study compared the data on employment, wages and the obtainability of the favourable domestic talent development environments for the country of reference and a neighbouring country with a higher level of economic development. Fourthly, the research identified the factors influencing the spread of digital employment and defined the place and role of Ukraine in the global digital landscape. The study uses methods of analysis and synthesis, abstraction and generalisation in the verification of digital employment trends, statistical and analytical methodologies in the study of the state and trends inherent in the digital segment of national employment markets. The knowledge base of the research consists of the official statistics of Ukraine, Poland, analytical materials of UNIDO, The World Economic Forum, OECD, Eurostat. The object of the study is the digital segment of the labour markets of Ukraine and Poland, as these countries have similar preconditions for economic development, they are geographically located in Eastern Europe and border each other. At the same time, Poland has a higher level of economic development and is a recipient country for Ukrainian migrant workers. The paper presents the results of empirical analysis, which showed that technological lag is the major precondition for the low demand for digital employment in Ukraine. Accordingly, this determines that Ukraine is basically a resource colony in the digital global environment, which supplies highly qualified digital workers. The experts and practitioners can use the results of the study to elaborate a strategy for the development of Ukraine’s economy in the context of digitalisation.

Agricultural enterprise foreign investment is not only the key to improve the competitiveness of international agricultural products, is also an important measure to ensure national food security, but also conform to the requirements of the national implementation of agricultural enterprise foreign investment strategy layout, and carry out foreign direct investment is an effective way to realize the development of agricultural enterprise foreign investment in our country. This paper uses SWOT analysis to analyze the advantages, disadvantages, opportunities and challenges, then select data from 2012-2020, to explore the special law of foreign investment and enterprise internationalization, will help to provide theoretical guidance for the internationalization of agricultural enterprises, research has important theoretical value and practical significance.Agricultural enterprise foreign investment is not only the key to improve the competitiveness of international agricultural products, is also an important measure to ensure national food security, but also conform to the requirements of the national implementation of agricultural enterprise foreign investment strategy layout, and carry out foreign direct investment is an effective way to realize the development of agricultural enterprise foreign investment in our country. This paper uses SWOT analysis to analyze the advantages, disadvantages, opportunities and challenges, then select data from 2012-2020, to explore the special law of foreign investment and enterprise internationalization, will help to provide theoretical guidance for the internationalization of agricultural enterprises, research has important theoretical value and practical significance.

Abstract. The COVID-19 pandemic has revealed significant structural flaws, caused deterioration of living and labor conditions, and slowed down economic growth paces for both regions and the country as a whole. It makes the domestic economy vulnerable to various stresses that, in turn, increases the vulnerability of financial systems and reduces their financial resilience. The paper aims to analyze the trends and factors causing financial imbalances of regions in economic instability and substantiate the consequences for their economic growth. The theoretical foundations of financial imbalances are expanded by decomposing financial stability, financial vulnerability, and financial instability. The interpretation of the concept of financial imbalances is expanded. The financial imbalances of Ukrainian regions in 2015—2020 are detected based on the suggested algorithm using the selected indicators. Depending on the year and type, the paper reveals the regions with a consistently low level of financial imbalances, high negative level, and a noticeable accumulation of financial imbalances. The causes of their emergence are explained, including the low capacity of the state to secure a sufficient amount of revenues and thus the budget balance, the low quality of planning and executing the budgets, weak relationship between budget programs and strategic priorities of regional development, domination of consumer expenditures over the development expenditures, inadequate public regional policy, falling volume of capital investment and poor investment attractiveness, declining production and thus deteriorating financial results in basic types of activity in the region, falling income of the population at the background of aggravated social tension and growing unemployment. The author suggests arrange of measures to prevent the emergence of financial imbalances and a set of efficient tools to regulate them. The paper emphasizes the need to develop a unified system of indicators in Ukraine similar to the scoreboard in Europe to measure imbalances on both macro and regional levels in order to detect prospective risks of imbalances emergence and expand the opportunities for their elimination or regulation. Keywords: financial imbalances, regional development, financial instability, financial capacity, financial vulnerability. JEL Classification H73, O40, R13 Formulas: 0; fig.: 2; tabl.: 2; bibl.: 16.

Abstract. The article is devoted to the study of the essence and peculiarities of the growth of tax competitiveness of the country in the conditions of a significant amount of shadowing of incomes and legalization of illegally obtained funds. The object of the study is the levels of shadow economy and tax competitiveness of the country. In the paper the 5,348 publications in the Scopus database and 2,036 publications in the WoS database on tax competitiveness and 3,095 and 1,063 publications on the problems of shadowing, respectively, were analyzed. The time horizon of the research was in 1992—2021. On the basis of bibliometric analysis the main directions of research of tax competitiveness and shadowing of economy are defined, the comparative analysis of tendencies of change of quantity of publications on these questions is carried out. It is concluded that the level of research on these issues in international scientometric publications has been significantly intensified since 2003 and 2005. With the help of VOSViewer tools, the main economic categories that are most closely related to the country’s tax competitiveness are identified. Based on the results of the analysis, a hypothesis about the connection between the level of tax competitiveness of the country and the shadowing of the economy was put forward. The article identifies the leading scientific journals indexed by Scopus and WoS databases, in which the most frequently published research questions. It is determined that the majority of the papers on tax competitiveness have been published in high-ranking journals in the first and second quarters. A methodical approach to assessing the relationship between tax competitiveness of the country with the level of its shadow economy is proposed. On the example of EU countries a significant negative impact of economic shadowing on the competitiveness of the country’s tax system has been proven. It is concluded that the implementation of shadow schemes of concealment of income and legalization of illegally obtained income causes significant damage to the amount of tax revenues to the budget. The methodical approach to estimation of losses of the economy from shadow activity is offered in the work. According to the results of the study, measures to de-shadow the economy in the context of increasing the country’s tax competitiveness are proposed, in particular: bringing the domestic regulatory framework to the requirements of the international community, reducing corruption, reducing time spent on filing and filing tax reports, optimizing the tax burden. Keywords: tax competition, shadow economy, state policy, money laundering, bibliometric analysis. JEL Classification O17, E26, H20, H71, F38 Formulas: 1; fig.: 4; tabl.: 4; bibl.: 21.

Purpose: While the demand for mental health services increases, supply often stagnates. Providing treatment to those most in need is an important factor in its efficient distribution. We propose and conduct a statistical procedure for detecting rater-biases in patient prioritization tools. Design / Method / Approach: We gather real-life data from 266 illness severity assessments in an Austrian publicly funded mental health service provider, including a rich set of covariates. To ensure robustness, we merge this data with determinants of mental health and assessment identified by previous research, such as weather or seasonal indicators. Findings: We find statistically significant effects of rater-biases. These effects are robust to a large array of controls. Practical Implications: A back-of-the-envelope calculation reveals that the identified rater effects can translate to large changes in the waiting times for patients. Misspecified treatment allocations may lead to worsened symptoms and potentially fatal outcomes. Originality / Value: Although a growing literature focuses on patient prioritization tools, many articles study these in synthetic contexts using “vignettes”. In comparison, our study adds external validity by considering real-life treatments in the field. Research Limitations / Future Research: This study can be used as a starting point for deeper, causally focused studies. Disclaimer: In accordance with publisher policies and our ethical obligations as researchers, we report that one of the authors is employed at a company that may be affected by the research reported in the enclosed paper. We have disclosed those interests fully. Paper type: Empirical

Purpose. The paper’s purpose is to analyze and predict the food security index in Ukraine and to estimate the risk level of its reduction. Methodology / approach. The following models are used for forecasting: the Holt’s two-parameter model – to forecast the dynamics of caloric content of the daily diet and integral food security index; the ARIMA model – for modeling the food economic affordability. The autocorrelation function structure analysis is used to determine the adequacy of the models. The article discusses the procedure of assessing food security risk based on the properties of the econometric forecast error. The annual data of Ukraine were used for assessing the forecasts for the time interval between 1995 and 2018. Results. The paper presents the results of predicting the food security index in the context of macroeconomic instability. The trend (deterministic) and random components for the level of calorie consumption are revealed. The forecast of food availability is presented. The forecast estimates of the Food Security Index of Ukraine for the period up to 2022 are considered. The assessment of price elasticities, household incomes and inflation for basic food products is made. As a result of assessing the level of macroeconomic instability, the structural elements of food security for Ukraine were identified. The article assesses the dynamics of changes in consumption of certain commodity items of foodstuff as components of food security. There is a creation of an alternative methodology for forecasting individual economic indices in the absence of stable trends in the economy of the country based on the use of econometric analysis proposed in the research. It substantiates the use of multi-step methods of forecasting economic indices. It is proved that the integrated forecast of the food security index of Ukraine is in satisfactory state and shows a slight upward trend during the period 2020–2022, but the risks of a decline in the integral index are somewhere beyond satisfactory. Originality / scientific novelty. The results of the individual food security indices forecast, and the integral Food Security Index of Ukraine analysis it is possible to state a satisfactory condition that is unlikely to change in the near future. The alternative forecasting method for individual economic parameters in conditions of the unstable national economy trends is firstly proposed. Practical value / implications. The reported forecast values indicate a decrease in the adequacy of consumption for most foodstuffs. This is most pronounced for the consumption of products of animal origin, which are far from the norm. The non-structural forecasts indicate current trends in the state of food security, which will persist if the impact on the food system by the general state of the country's economy remains unchanged. The main results of the study can be used to estimate the food affordability risks and risks of health deterioration for the population.

Purpose. The paper focuses on comparing two cost calculation method describing the principle, utilisation, advantages and disadvantages of the traditional mark-up on cost pricing (overhead method) against Activity Based Costing (ABC), a new, unconventional method of cost calculation. The aim is to prove that the ABC method allocates costs differently to individual products, in a different proportion thereto, unlike the mark-up method. The ABC method is considered by us more accurate because it views differently how costs originate. Methodology / approach. Statistical data testing was carried out, using the Kolmogorov-Smirnov and Shapiro-Wilk W tests, followed by a paired t-test, and completed with the Wilcoxon signed-ranks test. The data was evaluated for eight selected products, whose overhead value was calculated from both marking-up and ABC, out of a selected set of primary agricultural enterprises in Slovakia. Finally, the results were assessed with an unproven statistically significant difference between the calculation methods found. Results. This paper emphasises a different view of costing with the ABC method which, unlike conventional methods, offers multidimensionality and variation of cost tracking based on real and relevant data. A statistically significant difference between the methods was demonstrated for three pairs of variables (out of a total eight pairs). Statistically significant differences were found for cattle, wheat and sugar beets. Although statistical testing has not shown any significant difference between the methods, ABC is still considered a more accurate costing method for allocating overhead. The argument here follows from the very principle and method of ABC allocation of overheads. Unlike traditional methods, ABC offers multidimensional and diverse cost tracking based on real and relevant data. The direct allocation of costs (using an equal budget base) to products and services does not necessarily capture actual cost flows. Because overheads are higher on farms, misleading data can be provided. Practical experience in agriculture seems to imply that the ABC method is the most cost-effective tool for cost control and encourages its further use in budgeting, planning, modelling and decision-making. Originality / scientific novelty. The paper focuses on cost calculations made in agricultural holdings, often a neglected topic in agricultural management. In particular, high overhead costs in agriculture deserve more attention. Their exact allocation to products is important. The paper also focuses on assessing the suitability of calculation methods in agricultural holdings and on pointing out the need for accurate cost allocation. Practical value / implications. The main results and ideas here can be beneficial for managing agricultural holdings. Where the proportion of overheads is higher, management may be provided with misleading data. Practical experience shows the ABC method to be currently the most cost-effective tool for controlling costs and provides opportunities for its use in budgeting, planning, modelling and decision-making on product range structure, alongside other options.

Abstract. The paper deals with the analysis of the banking system of the UK. The UK banking sector is quite diverse, and at the same time oligopolistic. The UK exit from the EU is already having a negative impact on main banking indicators. Uncertainty in the banking sector and among the business community is, definitely, very high. This means that banks will have to work on potential and alternative outcomes, depending on their development. The impact of Brexit on banks and banking in the UK will be determined by both government-level arrangements and the response of individual firms to operating conditions changes. At the same time, the realities of the banking environment after the crisis of 2008—2009 mean that it is necessary not only to strengthen market discipline, but also to avoid excessive proliferation and diversification of commercial banks and concentration of the banking system. The post-crisis environment is characterized by a decrease in the number of commercial banks in the UK. However, the reduction in the number of banks does not prevent an increase in the value of the banking system’s assets and an improvement in their quality. Moreover, the paper explores the crisis of 2008—2009 impact on the functioning of the UK banking system (loans to monetary financial institutions, loans to non-monetary financial institutions, loans to non-monetary financial institutions, loans to the central government, deposits of monetary financial institutions, deposits of non-monetary financial institutions, central government deposits). For this purpose, the system of six vector models of autoregression has been constructed. The results of the simulations have shown that all variables have similar dynamics after the crisis shock, except for central government deposits. In the future, the leveling of the shock is observed for these variables starting from the fourth year. There is only an increase in central government deposits, starting from the second year after the shock The other variables do not respond to the crisis shock. Keywords: financial crisis, banks, bank assets, bank liabilities, problem loans, econometric modelling, VaR-models. JEL Classification C39, C51, C52, E44, E47, G01, G17, G21 Formulas: 6; fig.: 6; tabl.: 1; bibl.: 30.