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The article reveals the relevance and necessity of deep reforms in Ukraine to achieve economic revival and integration with European economic systems. The author analyzes significant institutional and structural reforms aimed at improving the economic environment, attracting investment, developing the private sector, and fighting corruption. These reforms cover important areas, including the banking system, public administration, the judiciary, antitrust regulation, and land relations, creating favorable conditions for financial and economic development and the economy's resilience to external shocks. The article emphasizes that the listed changes have both positive and negative aspects. On the one hand, the reforms contributed to increasing the transparency of management, improving the investment climate, and reducing corruption. On the other hand, the implementation process of some reforms proved to be difficult due to the lack of effective implementation and control mechanisms, as well as external challenges such as military conflict and global economic crises. The author also considers investment risk as an important indicator of institutional and structural changes in the country, pointing to systematic risk caused by country-wide institutional, political, and macro-financial factors, and individual risk determined by specific features of the company's financial condition. The increase in systematic risk due to hostilities has worsened financing conditions for all businesses, but the distribution of individual risk depends on many factors.

The article highlights the issues related to the challenges and drivers of recovery of the economy of Ukraine in the war and post-war periods. It is noted that since the beginning of the full-scale invasion of the Russian Federation on the territory of Ukraine, our country has lost significant human resources and witnessed the destruction of critical, industrial and social structures. The hostilities continue, but the belief in victory prompts scholars and practitioners to discuss the formats of reconstruction and modernization of the country after the war. Directions of economic recovery are proposed, namely: reconstruction and restoration of war-damaged property and infrastructure; quick recovery of economic processes; return of refugees and internally displaced persons back to Ukraine and their inclusion in economic processes; creating the foundations for sustainable economic growth. It has been concluded that, in general, the recovery of the economy of Ukraine, which suffered from the war, can be a driver of the recovery of infrastructure and revival of the industrial sector, creation of new jobs and support of small and medium enterprises, reconstruction of the housing stock, restoration of social infrastructure and development of the sphere of social services, social rehabilitation of war victims and restoration of the natural environment.

European integration processes have changed the requirements for organizations, shifting attention from external factors to internal properties. Unique knowledge and experience, combined with resources and technologies, shape the organization's competence, determining its ability to operate effectively. The increasing number of organizations capable of achieving high-performance indicators, i.e. competent in conditions of market activities coloured by military actions, is considered a factor in the development of the national economy. This work aims to justify the predominant impact of the results of Ukrainian organizations' activities, as an indicator of competence, on GDP volumes as a comprehensive indicator of economic efficiency and state development. Methods such as information systematization, grouping and comparative analysis, correlation regression, content and logical analysis, scientific induction, and deduction have been used. An obvious imbalance of the regional structure of the economy with the concentration of organizations in six leading regions (49,85%) was revealed, which does not always indicate their greatest impact on GDP volumes. This confirmed the inexpediency of considering the indicator of the number of organizations as a determining factor of influence on the national economy. The assumption of greater significance in ensuring the stable functioning of the economy based on the results of organizational activities has led to the analysis of the volumes of products produced and sold, their ratios, and projections of trends on GDP volumes. The higher performance of representatives of large and medium-sized businesses is explained by the presence of a wider list of competencies, therefore, higher competitiveness of organizations and the probability of resistance to external changes. Identity, but the unequal trends in production volumes and GDP outline prospects for further analysis of financial performance indicators in the context of their impact on the competence level of organizations, which most fully characterizes their ability to conduct successful activities, ensuring sustainable economic development.

The article examines the prospects for the integration of the Ukrainian economy into the European economic space. It has been established that Ukraine's accession to the EU would be beneficial not only for Ukraine, but also for the European Union itself. One obvious advantage is security: if Ukraine were not currently at war, Russian tanks would probably already be in Warsaw or Tallinn. In peacetime, there are many opportunities for cooperation. Obvious areas are food security and energy production; in addition, Ukraine has a lot of human capital and entrepreneurial talent, and it is quite developed in IT, mechanical engineering and other industries that require a high level of technical skills. Ukrainian culture is rich and original. However, not only Ukraine will change during the accession. The European Union itself will be reformed in response to new challenges. Existing agreements between Ukraine and the European Union have already contributed to significant trade flows. Accession will have greater implications for the free movement of capital and workers – investment inflows and migration outflows. These areas are likely to be the focus of negotiations. A certain accession agreement usually has transition periods, especially for full free movement of labor, and opt-out clauses. The essential difference will be that Ukraine will be granted the status of "member of the EU" and not associated or annexed status. The consequences of the Russian invasion of Ukraine and its request for membership in the European Union changed the role of international diplomacy. The European Union realized the need to strengthen its own security and solve internal problems - from the consequences of Brexit to solving the alleged violations of the rule of law by Hungary. The military incursions into Ukraine have become a catalyst for change across Europe, and this may be reflected in how the member states of the European Union and the European Commission deal with Ukraine's accession.

В умовах необхідності відбудови економіки України одним із важливих завдань є підтримка вітчизняних підприємницьких структур у частині забезпечення їх достатньою кількістю фінансових ресурсів для розвитку конкурентного бізнесу. У статті запропоновано модель прогнозування основних індикаторів мікрокредитування суб’єктів малого підприємництва, здійснюваного вітчизняними комерційними банками, визначено її функціональну будову та основні структурні компоненти. У процесі аналізу використано базові, зручні для розрахунку й адаптації моделі прогнозування індикаторів мікрокредитування суб’єктів малого підприємництва вітчизняними банками з використанням лінійної регресії, яка дозволила встановити вплив окремих видів банківських продуктів на комплексні індикатори мікрокредитування. Розрахунки здійснено на основі даних, отриманих у результаті анкетування працівників комерційних банків (АБ «Укргазбанк», АТ «Ідея Банк», АТ «Кредобанк», АТ «ПроКредит Банк») та їхніх клієнтів – представників малого бізнесу. За результатами аналізу визначено прогнозні значення питомої ваги конкретних мікрокредитних продуктів у портфелях чотирьох досліджуваних банків. Обґрунтовано оптимізаційні параметри портфеля мікрокредитів банку. Проведено розрахунок та оптимізацію загальної ефективності роботи банку та його портфеля мікрокредитів. Доведено, що такий метод дає змогу корегувати розміщення банківських коштів за різними напрямами діяльності з метою мінімізації ризику при задовільному рівні ефективності роботи банку загалом. Авторами розроблено та запропоновано до використання на всіх рівнях кредитної системи моделі оптимізації рівня ризику: для кожного окремого договору мікрокредитування; для кожного окремого виду мікрокредитування; для портфеля мікрокредитування кожного окремого банку. Запропоновані моделі оптимізації рівня ризику є прості та універсальні, використовувати їх можна й доцільно на будь-якому етапі кредитного процесу.

The article proves that the state regulation of negative manifestations in the functioning of the financial architecture of the national economy is carried out on the basis of a list of effective instruments of national financial policy, directly fiscal and monetary. It is determined that the subjects of ordinary state regulation of the financial architecture of the national economy are the National Bank of Ukraine, the National Commission on Securities and Stock Market, other regulatory bodies (such as the Antimonopoly Committee of Ukraine and the Ministry of Finance of Ukraine and others). It is proposed to include in the goals of such regulation: protection of socio-economic interests of potential participants in financial architecture; equal access of relevant market participants to various components of the financial architecture; support of healthy competition in the financial market, level of transparency and openness, gradual integration into the international financial architecture. It is concluded that the presented strategic directions for state regulation of negative manifestations in the functioning of the financial architecture of the national economy are aimed at forming a reliable system for protecting the rights of investors, as well as protecting socio-economic interests of relevant consumers of financial services. The regulatory mechanism is presented, under which we propose to understand the interconnected system of subjects, forms, instruments and objects of financial market regulation, which operates to achieve sustainable development of financial architecture and all its components, which is generally aimed at improving the sustainability of national economy.

The article considers the strategic directions of development of the financial architecture of the Ukrainian economy. It is proved that it is necessary to pay close attention to the following areas: the use of specific accounting standards; promoting the increase of the level of transparency of domestic capital markets in the context of introduction of complex market segments and financial instruments for coordinated regulation, first of all, including relevant derivatives; organization of effective prudential regulation and control over banking institutions; systemic risk management of the banking sector; increasing the effectiveness of control over institutions that are insured in a single system of insurance of their deposits; consolidation of supervision in the context of the use of a wider range of diversified instruments in order to control and limit the relevant financial risks that are directly related to the activities of a particular consolidated group; development of special programs to control companies with a complex structure, on the basis of using a system of indicators to identify possible problems and imbalances, corporate risks that arise directly, the formation of a strict regime of control over all functionally strategic financial organizations.

The purpose of the article is to develop a scientific-methodical approach to the assessment of diagnostics of the economic security of economic entities on the example of the city of Kyiv and the calculation of an integral indicator that makes it possible to summarize the characteristics that reflect the most important properties of the presented research object. It has been proven that the negative consequences of socio-political transformations in Ukraine, the long-term depletion of resources of economic entities in the conditions of permanent structural changes of the national economy, require practical measures to ensure the appropriate level of economic security of the business. It was concluded that the multifaceted scientific views on the essence and methods of diagnosing economic security, which can also be applied to economic entities, actualize the issue of researching key approaches to its assessment, where the subject of assessment is: directly the object of research (the activity of sub "business entities of the city of Kyiv); factors affecting the object of the relevant study (external and internal threats); the system of ensuring economic security: measures that contribute to the stabilization of the functioning of all the presented components of the research object. The methodology for assessing the level of protection of economic interests is based on the criteria of the efficiency of the functioning of agricultural production, namely: the ability of participants in agricultural production to optimally distribute and effectively use resources (resource component); opportunities to ensure at an appropriate level the needs and goals of consumers of agricultural products, provision of labor resources (social component); support of national interests of agricultural production under the influence of globalization processes (market component); intensification of agricultural production development (innovative component). It is proposed to use a functional-systemic approach, which allows forming of a universal algorithm for diagnosing the economic security of business entities and calculating an integral indicator that makes it possible to summarize the characteristics that reflect the most important properties of the presented object of research According to the results of the study, it was concluded that the business entities of the city of Kyiv are in the zone of probable danger. The level of economic security of economic entities of the city of Kyiv in this zone reflects the intensity of their systematic destruction, which, first of all, requires urgent measures aimed at restoring the normal state of the identified crisis indicators.

The article considers the conceptual principles of formation of the world financial architecture. It is determined that the negative impact of global disparities is significantly exacerbated by the imperfection of the current financial mechanism, which follows from the basic fundamental principles of the global financial architecture. The main factors of negative impact of global disparities on the world economy include: imperfection of the financial mechanism, exacerbation of contradictions between financial and real sectors of the economy, national and international structures in the direction of strategic state and strengthening regionalism. It is proved that in the formation of the financial architecture in the context of globalization transformations it is necessary to clearly define the conditions for the implementation of the principle of fair burden sharing between private and official creditors, as well as between relevant groups of private creditors. That is, efforts should be directed at regulating liquidity, stabilizing the behavior of investors, using effective methods of assessing sovereign risk, establishing a mechanism for regulating financial markets in developed countries; formation of a financial system that could use all the benefits of global markets and capital mobility with minimal risk, obtaining effective protection of socially vulnerable groups. It is concluded that the development of modern financial architecture takes place in conditions of significant aggravation of contradictions between financial and real sectors of the national economy, national and international structures in the process of implementing effective strategic state interests and opportunities for large multinational corporations. It is proposed in further research to determine the organizational and economic principles for the interaction of national and global financial markets in the context of global transformation.

The article examines the financial architecture in the context of systemic and functional approaches that together constitute the synergetic approach. The functional approach is based on the concept of function for each component of the financial architecture towards the system in general, i.e., a major contribution made by each component in its development. It is proven that specific properties regarding the unity of general, universal nature and functional importance are implemented for each of the elements or corresponding subsystems of a particular system. The process approach allows analyzing systemic identification, management of existing processes and especially systems for managing the interaction of the given processes. The use of the approaches introduced in the article comprehensively and in close relationship with defined hypotheses allowed us to develop the concept of regulating the development of the financial architecture of national economy. Following the research results, we can conclude: one has developed and substantiated a complex of hypotheses, allowing making assumptions for each hypothesis, appropriate provisions for their proof and consequences of using hypotheses. Such an idea of hypotheses allows correctly defining the concept of conducted research and determining the key points of proving. One has stipulated a set of principles and grounded conceptual approaches, allowing identifying the particularities of implementing the principles using various approaches that represent a methodological basis for the development of the efficient concept of regulating the evolution of the financial architecture of national economy. It is substantiated that, in the context of the financial crisis and globalization of national economy, concepts should be practice-oriented because the financial market requires tougher regulation. One concludes that the developed concept of financial architecture regulation has a range of advantages: the concept is based on two hypotheses, the proof of which allows defining its practical basis consisting of the set of mechanisms for financial architecture regulation; it is based on relevant scientific and methodological approaches to research, namely the synergetic one allowing representing the self-organizing component of the financial architecture and its elements; the offered concept allows conducting the efficient regulation of financial architecture segments of national economy and their interaction in the context of financial globalization. Concept implementation tools include complex mechanisms: adaptation of the financial architecture and its components to environmental changes; internal regulation (of individual components of the financial architecture and its interaction areas).

The development of the corporate securities market and the effective use of tools for its regulation cannot be achieved without models and methods of economic and mathematical modeling. The aim is to analyze and systematize the structural and temporal characteristics of the corporate securities market in Ukraine by applying economic and mathematical modeling methods. In the paper, linear interpolation is used to assess the temporal characteristics of corporate securities under market uncertainty. Descriptive and simulation modeling methods are also applied to carry out a formal description of the process of evaluating the structural characteristics of securities. The result of the study involves developing a descriptive model to analyze the structural and temporal characteristics of the Ukrainian corporate securities market. The approbation of the proposed model makes it possible to draw the following conclusions. First, Perspektiva Stock Exchange, Ukrainian Exchange and PFTS – the First Stock Trading System, are the most important trading platforms. They are determined by the monthly bidding dynamics and can belong to the same group – active players in the corporate securities market of Ukraine. Second, in terms of endogenous priorities, the development of the corporate securities market is mostly influenced by inflation rates (consumer price index), economic development indicators (key branches production index) and interest rates on alternative financial instruments (new deposit interest rates of deposit-taking corporations). Third, the rate of corporate securities issue and the native currency rate do not significantly affect the corporate securities market development, in particular, the former is characterized by a slight negative impact, and the latter – by a slight positive impact on the price dynamics.

The article deals with the main financial results of the banks' activities in recent years, the peculiarities of management of the banking institution, and suggests ways to improve the management of financial results. The subject of the research is the complex of theoretical and practical aspects of identification of management of financial results of the bank at all stages of its activity. The main tasks are 1) to consider the management of the financial performance of the banking institution; 2) assess the performance and profitability of Ukrainian banking institutions; 3) determine the strategic directions of management of financial results of a banking institution. Research methods. The article uses the following methods: economic-statistical, graphical, methods of comparative analysis. Methodological basis of the article became general scientific methods of cognition, generalization, method of comparative analysis and other methods of research. Results of work. Managing the financial performance of the banking institution helps maintain effective performance, sustainable development and solvency. In order to manage financial performance and financial sustainability, leading banks throughout the world are implementing the management of the continuity of banking business, which guarantees the bank's readiness for potential problems and risks. Conclusions according to the article. One of the most effective and topical instruments for today is the development of financial results management of banking institutions. In order to reduce the time spent on conducting all necessary banking and banking procedures, new systems based on the application of the experience of the leading world banks should be introduced.

In today’s economic realities, achieving the necessary level of financial security of enterprises is a prerequisite for ensuring their sustainable operation and the formation of competitive development parameters in the internal and external market environment. The effectiveness of this process depends on building a high-quality financial architecture as the basic structural element of the company’s financial security system. In this regard, the subject of the study is an analysis of existing theoretical approaches to the definition of financial architecture and its relationship with the financial security of the enterprise. The methodological basis of the research is the scientific development of domestic and foreign scientists, the fundamental theoretical positions of economic science in the field of financial architecture formation, financial risk management, and financial security of the enterprise. The purpose of the article is to study the essence of financial architecture in order to substantiate its determining influence on the financial security of the enterprise and ensure its sustainable functioning in an unstable development of economic processes. The article analyses the theoretical aspects of financial architecture and finds that the interpretation of this economic category is due to the existence of clear causal relationships between its constituent elements and their impact on the financial support. Proceeding from this, the definition of financial architecture is drawn as a set of interconnected structural elements such as capital structure, ownership structure and quality of corporate governance, which accumulate and mobilize financial resources, increase control over the activity of the enterprise, solve conflicts of interest between owners and other stakeholders. It is determined that the choice of principles and methods for constructing financial architecture depends on such financial interests of economic entities as forming a flexible financial potential, optimizing the structure of capital, increasing investment attractiveness, maximizing profits, and increasing the market value of the enterprise. It is proved that the result of building a flexible financial architecture is to provide the appropriate level of financial security of an enterprise by identifying, quantifying, neutralizing, minimizing, and monitoring its financial risks. It is proposed to systematize indicators of financial security level assessment on the most typical of its functional components, among which investment, credit, emission, innovation, and currency can be distinguished. It has been established that ensuring the appropriate level of financial security will contribute to achieving financial sustainability, forming qualitative financial potential, providing competitive advantages, harmonizing interests of economic entities, and creating an effective system of economic security of the enterprise. It is concluded that the construction of high-quality financial architecture is the basis of financial security of an enterprise, the level of which depends on the proper management of financial risks and ensuring an adequate level of safety of all its functional components. As a criterion for the effectiveness of the process of ensuring the financial security of the company, sustainable development of the enterprise was determined in the conditions of an unstable economic environment.

The subject of the work - theoretical aspects of financial stability of insurance companies in a dynamic environment. Purpose - review and study of theoretical and methodological aspects of the financial stability of insurance companies in a dynamic environment. Method and methodology of work - used general scientific and special methods, such as comparison of scientific abstraction, induction and deduction, analysis and synthesis. Results – clarified the economic nature and refined essence of the concept of «financial stability of the insurance company»; studied the importance of financial stability of insurance companies in ensuring that insurers socially recognized role in the economy; Certain elements affect the financial stability of insurance companies in a dynamic external environment; proposed stages of strategic management of financial stability of insurance companies. Conclusions - the stability of the insurance companies is not only an important prerequisite for their survival, but also the key to the success of their mission and strategic goals. The financial stability of insurance companies is a major factor, with which the insurance institution can properly carry out its multifaceted role and due to the interest of the state in social stability, the desire of insurers to quickly and adequately neutralize the negative random events, and insurers - to strengthen their position in the market, satisfaction of the interests of owners and further gradual development of companies.

The article presents a diagram of the main risk groups and highlights their causes. It is stated that the insurance companies manage risk it is advisable to allocate 4 groups of assessment methods that are most suitable and practical in the real sphere: expert, economic-statistical, computational and analytical, analog. Justified and effective methods of risk control considered. Conclusions regarding the following methods and techniques of risk management of insurance companies, which contain a number of different measures of organizational and financial nature and allow a certain extent, anticipate the consequences and the extent of damage to be reimbursed. The primary role in the management of insurance risks should be provided methods of risk financing, aimed at generating sufficient in terms of the sources of their coverage. This effect can provide underwriting system and a set of measures of risk management Risk management adopted by the insurance. In addition, the importance of risk management in the domestic practice, noted as one of the most promising directions of development of the domestic insurance market.