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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.

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.

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.

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 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.

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).

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.

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.

The paper is devoted to developing the approach to implementation of flexible organizational structures in the company, considering holacracy structure as an example. Every company eventually faces the problem of implementing or strongly changing its organizational structure, and COVID-19 pandemic increased the need in such changes. Today the increasingly demanded are flexible organizational structures, especially by small and middle-sized companies, which in the same time have lower managerial expertise and thus require clear recommendations on implementation of such kind of organizational structure. The approach proposed in the paper, includes stages aimed on training the company’s staff to work under the new organizational structure, piloting (implementing new structure in one unit and analyzing the results) and final implementation of new structure.

A significant problem in achieving the Sustainable Development Goals (hereinafter referred to as the SDGs) is insufficient financial support. The size of the investment gap before the pandemic, according to UN estimates, was $3.3-$4.5 trillion per year. The pandemic has significantly exacerbated the already difficult situation with financing, and has also set back humanity in achieving a number of the SDGs. The list of potential sources of offsetting the financial gap includes new taxes on the wealthy and pollution, debt relief for low- and middle-income countries, elimination of tax loopholes, redirection of subsidies from environmentally destructive activities, etc. However, a more market-oriented and gentle solution to the problem, both globally and at the level of individual countries, is the use of responsible investment tools. After all, ESG indicators are taken into account by investors and financial institutions when making investment and lending decisions, as well as by counterparties and suppliers in the course of commercial activities. ESG indicators are information about the environmental, social and governance factors of a company that are key to measuring the sustainability and ethical impact of investments in a company and business. The successful implementation of responsible investment is hampered by the existence of information asymmetry, for example, in the form of ESG mimicry. It means the use of various techniques that indicate the company's involvement in ESG, which is not really true. The goal of this article is to analyze effective methods for reducing information asymmetry in the ESG segment. It is proved that the use of responsible investment benchmarks in the form of ESG ratings can reduce the level of information asymmetry and increase the efficiency of responsible investment. In addition, the paper proposes a five-phase process for creating an ESG rating, which summarizes the experience of the best international practices and allows for more relevant assessments of companies' ESG efforts.

The article discusses the possibilities of using artificial intelligence in the field of social insurance. The relevance of the topic and the importance of using artificial intelligence technology in this area are established, since it can improve the activities of the insurance sector and solve various problems. The purpose of the work is to study the specifics of the use of artificial intelligence technologies in social insurance and their impact. The paper examines current technologies and areas of artificial intelligence application. The software solutions used by social insurance authorities are thoroughly disclosed. It is determined that artificial intelligence technologies are used in social insurance for data analysis, risk forecasting and decision-making. The functions and capabilities of artificial intelligence in this area are widely disclosed in the article. It is established that these technologies can be used to process large amounts of information, to collect customer data, to predict risks, or as a virtual for risk forecasting or as virtual assistants. The author analyzes the challenges and risks that arise when using technology. It is determined that the main ones are problems with confidentiality and access to technology. Options and methods for solving problems are proposed, such as data regulation, development of ethical standards, increasing transparency, etc. In addition, the advantages of using technology in the field of social insurance are identified. These include increased work efficiency, improved quality of service, and reduced fraud. Conclusions are drawn that show that the use of artificial intelligence technologies in the field of social insurance has great potential. This contributes to the development of insurance companies and improvement of their work.

The paper analyses in depth and highlights not only the peculiarities of managing gaming communities in Minecraft, but also their strategies in the face of constant competition. The authors describe in detail the methods used by these communities to achieve their goals in the virtual environment, taking into account the needs and differences of this type of collective structures. Special focus is directed towards examining how new members interact and the impact they have on the management dynamics within the clan. Highlighting the benefits that a player receives when joining a clan is an important part of the analysis, which opens up new approaches to understanding the motivation of players in choosing certain gaming groups. Not only the effectiveness of player management is investigated, but also the ways in which server administrators facilitate this interaction and generate revenue. The authors reveal specific examples of gaming features that server owners use for commercial purposes, as well as consider strategies for forming clans and their potential sizes. The approach to defining the roles of players in gaming communities is considered to be innovative, enriching the understanding of their functions and contributing to deepening the analysis in this area. This work is currently relevant in the context of the expansion of gaming culture, as it brings to the fore key aspects of gaming communities and can serve as a valuable source of information for players, game team leaders, server administrators, and researchers studying this unique field.

Abstract. The article is devoted to the essence and features of the formation of personal income tax gaps. The object of the paper is 1795 publications indexed in the Scopus database on the tax gaps in the national economy. The time horizon of the study was in 1935—2021. On the basis of bibliometric analysis, the main directions of the study of tax gaps are determine, the trend of changing the number of publications on this issue is analyzed. It is concluded that the theory of tax gap management is quite young and is currently only in its infancy. By the VOSViewer tools, five patterns of frequency of use of keywords in scientific works devoted to the issues of forming tax gaps have been identified, their connection with other economic categories have been determined. The analysis of the publications indexed in the Scopus database on a geographical basis is carried out. Clustering international research networks based on bibliometric analysis of scientific papers on the theory of tax gaps management by geographical location have been done. The article identifies the top Scientific Journals indexed by the Scopus database in which the issues of tax gap management were published most often. According to the Scopus database the most popular theories within this problem are: social theories, inequality and tax morality, management and motivation theories, sustainable development theory, production theory, concepts of fiscal policy implementation. A methodical approach to the assessment of tax gaps for personal income tax is proposed. The personal income tax gaps for Ukraine and European Union countries has been estimated. An average volume of personal income tax gaps within 7—28 %, and there is no positive dynamics in its reducing. The countries with the highest volume of personal income tax gaps include Greece, Poland, the Slovak Republic, Turkey, with the lowest — Germany, Belgium, Latvia, Luxembourg. Based on the Multiple regressions test, the hypothesis about the significant impact of tax gaps on personal income tax on the country’s economic development indicators was tested. Graphical interpretation of the link between the personal income tax gap and GDP for Ukraine and European Union countries indicates a negative correlation between them. Keywords: tax gap, shadow economy, tax evasion, GDP, economic development, state policy. JEL Classification E60, E63, C23 Formulas: 1; fig.: 4; tabl.: 2; bibl.: 17.

Abstract. The problem of attracting financial resources for the growth of small and medium-sized businesses was and remains relevant at all stages of the market economy development, which actualizes market research in the historical context. The article provides a historical retrospective to the problem of the mutual credit societies (MCS) creation and activity in 9 Ukrainian governorates, that were part of the Russian Empire in the second half of the 19th — early 20th centuries. The present paper makes attempt to examine the mechanisms and structure of lending, which was carried out by MCS in general. The objective is to establish the state of MCS’ development in the Ukrainian governorates. The paper also identifies the role of MCS in the lending system that had developed in the second half of the 19th — early 20th centuries in the Russian Empire. It was used several scientific methods which includes an interdisciplinary approach and are characteristic of research in the economic history field. Various historical sources like published statistical data and archival documents and materials were used. The study has found that the establishment and activity of MCS were focused on providing short-term loans to small and medium-sized businesses, that has been operating in governmental and provincial uyezd towns and cities where the banking system was poorly developed. It was carried out the analysis of development dynamic of quantitative and qualitative indicators of MCS activity. It was determined that the MCS share in the credit system of the Russian Empire constituted 5% in 1914. The study has found that rate of the MCS creating practice was influenced by many factors, which were mainly associated with unsuccessful financial reforms, belated legal regulation and weak episodic state support. The change in the structure of the credit-deposit and other operations provided by MCS has been processed. The range of banking services provided by MCS to their members and other clients was investigated. It has been proved the value of the historical experience of MCS crediting and the possibilities of its use to provide financial support for the development of domestic business are outlined. Keywords: Russian Empire, credit, crediting, loan, bank, mutual credit societies (MCS), banking system. JEL Classification B17, N24 Formulas: 0; fig.: 8; tabl.: 1; bibl.: 35.

Digital business transformations began in the early twenty-first century. But over the past ten years, the pace has accelerated significantly, especially in the context of the end-2019 pandemic. Many papers on this topic have already been published, but there are still many aspects that have not yet been studied. In this paper, we consider the impact of digitalization on innovative business models (IBM). Based on analyzed and carefully studied previous research and scientific publications, this study highlights the impact of digital technologies on changing business models of enterprises in the last 3-5 years. The study found that the digital transformation of enterprises helps to improve competitiveness. Brings competition to a new level. The introduction of state-of-the-art technology can help companies create new strategies and create a foundation for long-term growth and market leadership. Digital technologies have forced entrepreneurs to rethink their business models (BM). The company's location is also directly dependent on the success of digital transformations. It was found that small and medium enterprises (SME) in developed countries are adapting faster and introducing new technologies. The problem of SMEs in developing countries is the difficult access to the latest technologies, the purchase of technologies that have newer substitutes in developed countries. Based on data on the activities of SMEs, as well as some corporations that are actively implementing new technologies to improve the efficiency of their own business. Quantitative research has shown that technologies such as large database analysis, the Internet of Things, artificial intelligence, and augmented reality technologies have the greatest impact on changing business models. Specialized research shows that the most susceptible to new technologies and changes in business models are IT companies. After all, they are the drivers of digital transformation. Examples of online goods companies and film companies are given. Options for further study of the impact of transformation on the business model are proposed. It is also proposed to explore methods of identifying competitive advantages and their use in building business models.

The purpose of this paper is to examine the effectiveness of monetary and fiscal policy instruments, to determine the level of influence of monetary and fiscal factors on economic growth, as well as to justify ways for improving the effectiveness of monetary and fiscal policy coordination. Insufficient coordination of monetary and fiscal policies entails devastating economic consequences. The critical analysis of scientific publications proved that today the coordination of monetary and fiscal policies depends on the degree of balanced regulation of interest rates and inflation control. The research uses a NARDL model to capture mainstream trends in the influence of monetary and fiscal factors, as well as in the empirical study of their coordination. According to the estimations it was established that the weighted average rate of NBU instruments is absorbed to a greater extent in the monetary component of coordination, the system of managing the internal public debt – in the fiscal component. The participation of monetary authorities in the management of the national internal debt remains a debatable issue today. It is proved that the process of coordination of monetary and fiscal policies is influenced by the state of Ukraine’s economy during the war. Despite the difficult political and economic situation in Ukraine, it is necessary to focus on improving the coordination of monetary and fiscal policies. In particular, the significant contribution of the NBU in financing the state budget deficit due to their purchase of government bonds needs to be resolved. Strengthening the role of macroprudential policy in the coordination of monetary and fiscal policies, one of the goals of which is to counter the emergence of a systemic crisis; formation of a clearly developed coordination strategy, which would be based on clearly defined goals, set tasks on the basis of selected methods and instruments for their achievement.

In the paper, we explore the effects of monetary policy shock on the economic growth in systemically important countries such as the US, the Euro Area and China and their impact on Ukraine. Thus, the war in Ukraine and the rise of key policy rates by central banks to curb inflation have had a significant negative impact on economic activity. There has been both a significant decrease in trade activity and a slowdown in the services sector growth, which was the main engine of global economic growth at the beginning of 2023. Based on the vector autoregression model results, we demonstrated a slight initial decline of GDP growth with following stabilization in response to the rise of key policy rates in the US. In China, this decline is much bigger and constitutes 11% after the shock. In the Euro Area, we also observe a similar pattern as in the US with an initial decline up to 2% and a further return to equilibrium. Analyzing the results of the forecast error variance decomposition, we should note that GDP fluctuations in systemically significant economies are mainly explained by their own fluctuations. The key policy rate’s contribution ranges from 1% in the US to 11% in China. At the same time, economic growth in China is less vulnerable to inflation fluctuations, in the Eurozone we observe the most sustained one among the considered economies. In addition, the study shows that the key policy rate in the United States has a positive effect on the one in Ukraine.

This paper aims to assess the development pattern of resource-rich countries like Norway, Kuwait, Saudi Arabia, and the Republic of South Africa by analyzing their stock markets. As resource-rich countries have profound implications for the world's sustainable development, it is essential to investigate whether they transform natural resource wealth into sustained growth by reorientation from related to raw material industries to modern ones based on information and technologies. The analysis of resource-rich countries' stock markets allowed us to conclude that partially these countries are on the way to an economy dominated by intangible assets. Nevertheless, despite the declared intentions, some traditional attachments to raw materials are still present. At the same time, most companies in the optimal portfolios of these markets have a long-term nonlinear strategy. The impact of the pandemic COVID-19 turned out to be significant, but short-lived. The research was carried out based on R and Python packages.

The socio-economic crisis in Ukraine, which has worsened over the past decade, has had a profound impact on all local communities. Local governments implementing decentralised mechanisms and anti-crisis financial measures are currently facing numerous theoretical and procedural constraints, which, although not homogeneous, have a cumulative effect. In the context of low economic potential and existing legislative constraints, local governments cannot actively manipulate consistent sources of local budget revenues (taxes) to support sustainable regional development, and therefore a coherent policy of credit and fiscal equalisation is an important aspect of ensuring the sustainability of local public finances. The purpose of the paper is to assess the correspondence between the fiscal sustainability of local budgets (with a focus on the borrowing component) and the economic sustainability of regions. Empirical studies of Ukraine's experience based on regression modelling have not found a clear direct link between the drivers of fiscal sustainability of local budgets (solvency, dependence on intergovernmental grants, stability of tax revenues) and the sustainability of socio-economic development of Ukrainian regions. In addition, in the context of the crisis and external shocks, strict adherence to the criteria of fiscal balance of local budgets undermines the ability to ensure a sustainable recovery of the regional economy, so it is important not to limit the fiscal capacity of communities by attracting local borrowings and intergovernmental grant during the crisis.

This paper examines the financing of green energy initiatives as a critical element in strengthening Ukraine's energy security, especially in the context of post-war reconstruction and the need for sustainable and resilient energy infrastructure. The study aims to assess the potential and challenges of investing in green energy in Ukraine, considering the destruction caused by Russian military actions in the winter of 2022-2023, and the need for recovery based on sustainable models. In this regard, the obtained results emphasize the importance of creating a reliable and decarbonized energy sector, driven by both domestic needs and international cooperation with the EU and other partners. The analysis shows that despite strong support for the green energy transition, the development of the sector is hindered by the high capital intensity required for green technologies, which are often not competitive without government subsidies. This requires a careful balance between innovation and commercial viability of green energy projects, highlighting the need for public and private investments in technologies that can compete with traditional sources of energy in the long term and developing new financing tools for Ukraine. The conclusions indicate that a multifaceted approach is needed to ensure Ukraine's energy future and minimize risks. Such an approach should include policy reforms, strategic investments in proven green technologies, and fostering partnerships to bridge the commercialization gap. Policymakers face the dual challenge of accelerating the energy transition while managing financial constraints exacerbated by military spending, highlighting the trade-off between rapid development and the risks associated with financing innovation. Overall, this study contributes to the understanding of how green energy financing mechanisms can enhance Ukraine's energy security, suggesting broader implications for policy, investment, and technological innovation in the context of Ukraine's post-war recovery and future resilience.

Theoretical concepts and applied possibilities concerning the feasibility of introducing resource-saving technologies in a construction company under the influence of an unstable market environment and limited resources are determined. The article considers the dependence of construction production on many factors of the external and internal environment: natural and climatic, engineering and geological, economic, suppliers, sub-suppliers. This leads to the existence of a variety of projected cost and time indicators for a given construction project. This is due to the impossibility of obtaining accurate information on the conditions of project implementation. In the authors’ opinion, the limited availability of raw materials and the threat of their depletion are the reason for the constant rational use of raw materials and the search for new energy sources. The authors argue that in an unstable market environment and with limited resources, introducing resource-saving technologies can have a significant economic impact. Economic benefits, reduction of negative impact on the environment, improvement of the company’s image and status are the main advantages of introducing such technologies. It is necessary to compare the economic benefits of implementing resource-saving technologies with the costs of their installation and operation in order to determine the economic feasibility constant. Economic benefits include increased productivity, reduced costs due to resource savings and improved product quality. Costs are related to the installation of new technology, replacement of equipment, staff training and other factors. Economic feasibility is an economic assessment that helps determine whether introducing resource-saving technologies is economically viable. It can help construction companies make decisions about investing in new technologies in the context of an unstable market environment and limited resources. The article gives examples of the use of cost-effective resource-saving technologies: the reconstruction of Maidan Nezalezhnosti (Independence Square) – the use of inventory shuttering in the complex use of softeners and chemical additives to concrete; the rationale for types of individual housing construction using recycled materials and the introduction of energy-saving technologies; the concept of “smart building”; the use of recycled materials such as bottles, paper, plastic and other materials in the construction of buildings. The article concludes that the use of resource-saving technologies can be an effective tool for ensuring the competitiveness and sustainable development of a construction company in an unstable market environment and with limited resources.

Forecasting external public debt under conditions of uncertainty is important as it allows the country to respond adequately to economic and financial challenges, promotes efficient management of financial resources, formation of a stable financial policy and ensures the country's external debt security, which are critical elements for ensuring economic sustainability and sustainable development. The article's main purpose is to critically analyze and apply existing time-series forecasting methodologies to determine the future values of Ukraine's external public debt in conditions of uncertainty caused by the still unresolved consequences of the COVID-19 pandemic and russia's invasion and full-scale war in Ukraine. Using three forecasting methods, namely trendline extrapolation, exponential smoothing, and autoregressive and moving average models, the paper forecasts the volume of external public debt until 2029 and presents a graphical representation of the debt dynamics from 2011 to 2029. The most pessimistic forecast for the growth of external public debt was revealed when applying the method of data extrapolation based on the trendline. A comparative analysis of the forecast values for the three forecasting methods has revealed common trends in the growth of public debt, as well as the key advantages and disadvantages inherent in each model. Importantly, the article emphasizes the common risks identified in forecasting Ukraine's external debt using time series analysis models, including the problem of achieving only short-term forecasting accuracy and insufficient flexibility taking into account complex and unexpected changes that may arise in conditions of uncertainty and economic instability. The results of the study provide valuable information for policymakers and stakeholders trying to navigate the complexities of managing external public debt under uncertainty.

The social protection system of Ukraine functions under the conditions of numerous challenges, namely demographic changes; the impact of globalization; changes in the labor market under the influence of digitalization; climate change; macroeconomic crisis caused by wartime. This creates pressure on the functioning of the specified system and requires a comprehensive assessment of its functioning. This paper aims to identify gaps in the functioning of the social protection system of Ukraine and to create recommendations for its further development under modern challenges. It used such tool as a Social Protection System Review (SPSR), which provides instruments for the assessment of a country's social protection system within five dimensions: needs; coverage; effectiveness; sustainability; and coherence. This assessment became a ground for creating recommendations for the development of the social protection system of Ukraine under modern challenges. The assessment of Ukraine's social protection system within five dimensions led to the finding that the level of social risks in Ukraine is rising as indicated by negative tendencies of economic and social indicators; many social programs exist based on the quite difficult legislative basis what decrease level of effectiveness of social protection; social expenditures exceed social receipts, and this does not support the sustainability of Ukraine's social protection system. To develop the social protection system of Ukraine under modern challenges, it is important to make social protection inclusive through the implementation micro micro-social insurance in cooperation with the private insurance sector; to visualize eligibility criteria for social benefits and other conditions for social programs what will make legislative basis of social protection clearer; to optimize number of social protection programs for increasing the level of benefits per vulnerable person; to make stronger the coherence and coordination between social institutions; to increase the social and financial literacy of population aimed at rising of their awareness of financial mechanisms of social protection.

he digitalization era of public relations is increasingly affecting the means of presenting information about the economic activities of an enterprise, in particular financial, in the context of a global pandemic, which was caused by the global COVID-19. Increasingly, in our environment, there is a transition from paper to electronic information carriers. The financial information generated by business entities both in Ukraine and in the world as a whole is no exception. The purpose of the study is to systematize the existing digital formats for presenting financial information as a basis for analyzing and auditing the business activities of enterprises in Ukraine. The basis of the study is the methodological recommendations on the use of Taxonomy UA XBRL IFRS, instructions for the revision of the Ukrainian IFRS taxonomy, specialized software products, legislative framework of Ukraine. The following methods were used: graphical (to visualize the results of the study), and grouping (to systematize the advantages and disadvantages of software that uses tax services to conduct e-audits). /Digital formats for the presentation of financial information were analyzed. They are the basis for the analysis and audit of the enterprise's activities. The structure and characteristics of the legal framework for the disclosure of financial information in electronic XBRL format in Ukraine were given. Comparative analysis of financial information in digital format XBRL and SAF-T UA were carried out. It has been determined that XBRL can be used as a basis for analyzing financial information in electronic format using special software, for example, to assess the financial condition, calculate indicators of financial stability, liquidity, solvency, business activity, enterprise profitability, etc. It has been proved that the electronic format of financial information SAF-T UA is used when conducting an electronic audit (e-audit) of taxpayers, and can also be used to calculate the tax burden (tax return, tax efficiency ratio) used by the State Tax Service of Ukraine for the purpose of control completeness of calculation and payment of relevant taxes and fees to the state budget.

The research is devoted to the problem of financial and non-financial information disclosure by banking groups of Ukraine. Detinization of the economy is one of the highest priorities of state policy, banks, as the largest group of financial intermediaries, act as one of the tools to reduce the level of shadow transactions. However, the problem of the presence of mechanisms for identifying violations, anti-corruption measures, which in turn should have a positive effect on the level of bank transparency, is still not sufficiently covered. In this paper authors analyze the Management Report. It is a report, which contains financial and non-financial information, reveals the state and prospects of development, and characterizes the key risks accompanying the activity. Since at this stage the normative acts do not define a unified form, the problem of information disclosure is quite urgent. Taking into account the above-mentioned research problems, the authors analyzed the key structural divisions of the Report of the largest state-owned banks with private and foreign capital during 2021-2022. Using the expert method, the points of the Report that more fully disclose information, those that directly relate to the problem of shadowing, were determined economy and fight against corruption, and those that do not exist at all. As the next stage, the authors chose the Fishburne method for ranking indicators in order of their importance, which became the basis for deriving an integral indicator of transparency for each bank. The results show that there is a general tendency to increase the level of openness of financial and non-financial information of banks. In terms of forms of ownership, banks with foreign capital and state-owned banks are more transparent, which in turn helps to reduce the level of shadow transactions.

The purpose of this paper is to test and evaluate how much influence Audit Tenure, Audit Opinion, Public Accounting Firm Reputation, Auditor Switching, and Auditor Industry Specialization as moderator variable has on Audit Report Lag. This research uses Indonesian Stock Exchange data as the population of this study and to examine the companies in the food and beverage sector. This research uses quantitative methodology and secondary sources. In 2021, the Indonesian Stock Exchange is expected to list 39 food and beverage companies. The sample size for this study was 22 food and beverage companies and 110 data were used as samplesand was selected using the purposive sampling method. This research utilizes SPSS version 26 (Statistical Package for Social Sciences) for its statistical analytical needs.This reasearch data analysis uses moderated regression analysis.In this research variable such as Audit Tenure, Audit Opinion, Public Accounting Firm Reputation, Auditor Switching, Auditor Industry Specialization and Audit Report Lag’s Indicator was based on previous studies. Audit tenure is measured by the length of the KAP's engagement with the same auditee. Audit Opinion using the nominal ratio of type opinion given. Public Accounting Firm Reputation indicator’s wheter a company using Big4 as their auditor or not. Auditor Switching indicator’s if company changing its KAP is given code 1, if not 0. Auditor Industry Specialization using SPEC formulation as the indicator. And for the dependent variable, Audit Report Lag measured in days from the date of the closing of company the book until the date of financial report is published to the public.According to this study, longer audit tenure resulted in longer audit report lag. There is no statistically significant correlation between audit report lag and variables audit opinion, audit firm reputation, or auditor switching. There is a positive and statistically significant relationship between audit tenure and auditor industry specialization as a moderation variable with audit report lag. Auditor industry specialization can not moderate the impact of audit opinion, KAP reputation, and auditor turnover on audit report lag.

The purpose of the study is to develop scientific and methodological foundations for improving the efficiency of the process of managing a bank's corporate loan portfolio, in particular by segregating the industrial loan portfolio as its important structural part and developing a methodical approach to assessing the resistance of the bank's industrial loan portfolio to the effects of the dynamic macroeconomic environment. The article summarizes the results of research by domestic and foreign scholars on the impact of macroeconomic factors on various aspects of a bank's lending activities. The paper briefly considers certain aspects of development and efficiency of bank lending to industrial enterprises for the period 2010-2022. The author's approach to assessing the resistance of the bank's industrial loan portfolio to fluctuations in the macroeconomic environment is proposed. The proposed methodology for assessing the resistance of the foreign currency industrial loan portfolio of Ukrainian banks to effects of the macroeconomic environment for the period 2010-2022 has been tested.

In the article, international cooperation of territorial communities of Ukraine is defined as a strategic direction to attract financial resources and implement their investment projects. The authors name prerequisites for completing the reform of decentralization in Ukraine. It is stressed that the full-scale russian invasion of Ukraine and declaration of martial law have caused structural transformations in the parameters of performance of the local government bodies. The study is devoted to the theoretical and applied aspects of the organization and development of international cooperation among the territorial communities in Ukraine. The paper describes the methodology developed to study the international cooperation of territorial communities. The authors make an assessment of the conditions of international cooperation of territorial communities bordering the European Union countries and present results of the questionnaire conducted amongst managers of the border territorial communities of Ukraine in order to identify parameters of the international activity development. The analysis was conducted to clarify peculiarities of establishing cooperation of the bodies of local government of Ukraine with foreign partners and to find out restrictions and challenges influencing the communities’ opportunity to implement international initiatives and cooperation in conditions of the russian-Ukrainian war. The researchers have developed a complex of measures necessary to improve the efficiency of the international cooperation between Ukrainian local territorial communities bordering the EU and foreign partners by carrying out a promotional campaign among the representatives of the local government bodies and developing a complex system of advanced training for the staff employed at the local power authorities in the field of international activity. It is also needed to enhance the institutional basis regulating the international activity of the territorial communities of Ukraine, to upgrade the financial and economic basis of the international cooperation implementation, as well as to accelerate the rates of development of the border infrastructure objects.

The theoretical and methodological research presented in the scientific paper aims to identify the potential growth of the revenue level of participants in the telecommunications market, and the identification of potential opportunities and threats to ensure their economic security in order to define effective directions for the communications industry development in the long run. As a result of the research, based on the identification of potential business opportunities, given the availability of potential and competence resources, it has been established that small participants in the communication market (operators) are not able to provide the appropriate level and continuity of service, therefore a significant part of customers switches to using the services of large market participants (providers), where the largest percentage of service provision is for wired Internet services. The research was conducted on the materials of national telecommunications enterprises’ activities results. The methodical basis of the research was general and special methods, namely: system analysis - for comprehensive consideration of strategic landmarks of telecommunications enterprises’ activity; generalization and scientific abstraction - to study the level of readiness of enterprises for changes in management in the direction of innovative development; statistical analysis (method of standard deviation), synthesis and comparison - for the study of the domestic telecommunications market, in diagnosing the current state and trends of innovative development of domestic telecommunications enterprises, identifying priority development directions of innovative decisions in the direction of a revenue level formation of participants in the telecommunications market. The main aspect of the results approved that an important and global task today for the telecommunication market development remains the implementation of start-ups for the reorganization, reconstruction, optimization and improvement of telecommunication networks, as a result of which there should be an innovative transition to the use of modern switching equipment in the direction of ensuring the high level of service for several numbering zones at once and maintaining accessibility to a wide range of services, which will make it possible to achieve a high level of profitability in the near future.

A full-scale russian invasion of Ukraine in 2022 changed socioeconomic sustainability (SES) and boosted the solidarity economy (SE) formation in the country under the ongoing war. In the context of this study, the SES issue is associated with the importance and necessity of understanding the real needs of communities and developing programs to ensure their satisfaction and the need to establish social ties within each community and increase mutual support and solidarity. The research evaluates SES and its factors of influence on the civil population during the war. The paper relies on online focus group interviews conducted from May to June 2022 in the Sumy region, Ukraine. 1,292 randomly selected respondents were interviewed, of which 65.6% were women, and 34.4% were men who were not involved in military service. The survey results were processed by specialists of the Center for Social Research of Sumy State University using the "ОСА" program. The strong point is that 60.7% of respondents confirmed increased social activity in response to the war. The war in Ukraine harmed the employment and incomes of the population in the Sumy region, deepened the financial instability of people, and increased the risk of falling into a vulnerable situation. The policy implications of the study require strengthening the solidarity ties inside the society to promote the socio-economic sustainability of people during the war. Based on these results, the recommendations of the study include measures of investing in social protection programs, supporting the development of local economies and new job creation initiatives, encouraging the participation of civil society organizations and community groups in peacebuilding and conflict resolution efforts, as well as restoration of the social and economic infrastructure of the region.

The validity of published research findings is related to their demand from both investors and issuers and from the side of research scientists. The methods used make it possible to determine the general trend of market movement in the direction of increasing or decreasing its efficiency. For investors, such an assessment of the efficiency of the stock and bond markets creates a basis for optimizing the allocation of assets when building portfolio strategies, and for issuers, it is the basis for building a strategy for emission activity. It is necessary to analyze the factors affecting the efficiency of the Ukrainian market and show that the illiquidity of the Ukrainian bond and stock markets has a negative impact on the overall efficiency of the market, and therefore it is necessary to increase liquidity, which is an important factor for improving the efficiency of the market. The analysis of the efficiency of stock and bond markets is presented as an impact on the markets themselves. For research scientists, the predictability of returns, or the lack of such predictability, is critical to creating models that can accurately describe risks and returns in financial markets. The paper proposes a different approach to the study of stock market efficiency, using a time-varying parameter model that can estimate indicators, efficiency and inefficiency as parameters change.

The rapid development of the market economy has higher requirements for enterprises. If enterprises want to stabilize their position in the fierce market, they must undoubtedly actively deal with various risks faced by enterprises in the process of operation, especially the investment risks of enterprises. For enterprises, risks and opportunities often come from the same industry. Only by better dealing with risks can they seize opportunities faster and win development. Therefore, the operators of enterprises should always be prepared to deal with risks, quickly find the causes of investment risks, and then take measures in advance. This paper first gives an overview of enterprise investment risk, including the definition and identification of investment risk, then emphatically analyzes the causes of enterprise investment risk, and finally puts forward several countermeasures to actively deal with enterprise investment risk, hoping to have reference significance for enterprise investment and development.

This article aims to explore the concept of gender transformative tourism, which is defined as a form of tourism that challenges and transforms gender norms and relations in favour of gender equality and social justice. The article examines how the new trends in the hospitality industry, such as digitalisation, personalisation, sustainability and social responsibility, can contribute to the development of gender transformative tourism. The article adopts a conceptual and interdisciplinary approach, drawing on literature from tourism studies, gender studies and hospitality management. The article proposes a framework for analysing the potential and challenges of gender transformative tourism in the hospitality industry, based on four dimensions: awareness, empowerment, participation and impact. This paper provides a systematic analysis of the publications about gender transformative tourism, using bibliometric and content analysis methods. According to author’s deductions, it is shown that the gender transformative turism enhances multiple benefits like: fostering cross-cultural understanding, enhancing self-esteem confidence for women, and helping them to realize their full potential and aspirations, helping them to appreciate the diversity and complexity of gender identities and expressions, reducing reduces gender-based violence and discrimination It contributes to social justice and sustainable development, by addressing the root causes of gender inequality and empowering marginalized groups and others. In coclusions, the author formulates some recomendations in ordor to support gender transformative tourism, such as: raising awareness and educating ourselves and others about the importance and benefits of gender transformative tourism; choosing travel providers and destinations that are committed to gender equality and empowerment, and that respect the rights and dignity of all people; engaging in respectful and meaningful interactions with local communities and cultures, and being open to learn from their perspectives and experiences and others.

With the rapid economic development and increasingly fierce social competition, the accelerated development of global digitalization, the current enterprises are characterized by the development of informatization, and the role and impact of human resource management on enterprise performance are becoming more and more prominent. Enterprises are people-oriented, and on the basis of this concept, enterprises gradually explore a human resource management system suitable for enterprises. In the face of the current environment and the task of high-quality development of the country, traditional personnel management can no longer meet the needs of enterprise development, human resource management has gradually been upgraded to the level of strategic planning, and more and more enterprises realize the importance of strategic human resource management. In the face of many challenges, enterprises should be based on the industry, start from the aspect of talent management, stimulate the motivation of internal talents, and continuously improve the autonomy and creativity of internal talents in all aspects of work. Talent management is not only the basic condition for the normal operation of enterprises, but also the focus of whether enterprises can develop smoothly, and the conditions for the continuous improvement of economic benefits of enterprises. If enterprises want to make strategic results, they must establish the connection between human resources and enterprises at the strategic level, and sort out and formulate human resources work plans from corporate strategies. Human resource management has always occupied a very important position in enterprise management, and strategic human resource management is more suitable for the development of enterprises in the current economic and competitive environment. Based on the theory of strategic human resource management, this paper analyzes Huawei's concepts and tools for building a strategic human resources system based on its theoretical concepts, core contents, and importance in enterprises, in order to provide some experience and enlightenment for other enterprises.

The article highlights the main characteristics of uncertainty and risk, which need to be taken into account when making management decisions to ensure the controllability of all processes at the enterprise. The significant attention of scientists to risk and uncertainty, and their significance for management decision-making is very high, so the debate about risk and uncertainty identification and their levels still remains open. The article defines the character and types of uncertainty, identifies a number of differences between risk and uncertainty in the process of management decision-making, structures the main characteristics of uncertainty, and determines the impact of levels and types of uncertainty on management decision-making. We conducted an empirical analysis of scientific literature to determine the essence of the concept of "uncertainty" and its differences from the concept of "risk", a structural-genetic analysis of the main characteristics and causes of uncertainty, and a comparative analysis of models for determining levels of uncertainty. We identified the main characteristics of uncertainty which cause its existence and require careful consideration. The paper offers a methodical approach to assessing the level of uncertainty for managerial decision in general and for individual factors ensuring its success, which will allow management to focus on those decisions that have the highest level of uncertainty and may pose a threat to achieving the goals of enterprise development. We proposed an approach according to which the level of uncertainty can be determined both for a management decision in general and for separate factors of its success. A methodical approach to assessing the level of uncertainty is proposed to ensure the success of management decisions which will allow management to focus on those that have the highest level of uncertainty and may pose a threat to achieving goals.