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The aim of this study was to elaborate a conceptual approach to the development of financial technologies under the impact of restrictions imposed by international economic sanctions. The development of this sector was analyzed based on empirical studies of available information on the state of the FinTech sector in 28 countries that are impacted by international economic sanctions, using the Global Sanctions Database presented by OFAC (Office of Foreign Assets Control). The research involved comprehensive research methods: situational analysis, system analysis, reproductive analysis, structural and functional analysis. The results of the study confirmed the main hypothesis: international economic sanctions do not block the development of financial technologies, as FinTech can ensure the development of the financial sphere of sanctioned countries because of its flexibility and mobility. The calculations proved that depending on the way of combining the internal perception of external restrictions imposed by the sanctions, which is unique for each country, international economic sanctions are a stimulator for some countries (China, Ukraine, Iran), while being a significant development blocker (r=0.896) for others (with a financial technology performance less than 1). This study will be useful not only to scholars who deal with the theoretical and methodological framework of the development of the financial sector of countries subject to sanctions.

The COVID-19 pandemic impacted every aspect of life on a global scale. E-business has become a key factor influencing the profitability of businesses in various fields, regardless of their size. The aim of this study was to assess the effectiveness of e-business in entrepreneurship development in various fields during the COVID-19 pandemic. For this purpose, a panel analysis of data from 212 micro, small, medium-sized and large companies, and nine business sectors (trade, chemical, light, pharmaceutical, food, agricultural, HoReCo (hotel and restaurant industry), electronics and IT, transport) was used with data comparison for 2019 and 2020 in Ukraine, Bulgaria, Poland, Moldova and Georgia. The e-business platform was found to be the key indicator of maintaining performance during a pandemic. The analyzed questionnaire data show that 58% of respondents saw an increase in online income in 2020 compared to 2019 that in such sectors as trade, IT and pharmacy. There were 59% of respondents who saw the need to expand communication networks with existing and potential customers, because it was positively correlated with the efficiency of e-business. Besides, the results show that equity financing and proper liquidity management consolidate the economic performance of businesses in terms of return on equity and return on assets. Our findings are useful to managers and investors, and can help them make the best decisions about their management or investment activities. Moreover, the study demonstrates how companies were responding to the pandemic in order to identify sectors that are more vulnerable to the effects of the crisis and the key financial management decisions that companies need to make during the crisis.

The article examines modern methods of risk assessment, analyzes their advantages and disadvantages, as well as features of use. In particular, it is determined that most of them are based on the use of statistical data and postulates of probability theory. In the case when obtaining the necessary initial data is difficult, the methods of analogues or expert assessments are used, but they are subjective. In a separate group, we can distinguish methods that are based on the use of mathematical modeling, such as the scenarios method , project sensitivity analysis or game theory. Housing construction is characterized by a high level of risk, and the specifics of the industry complicate its unambiguous assessment and, consequently, its management. Therefore, to effectively manage the risks of financing the housing construction, it is necessary to choose an assessment method that can provide the most accurate result. The amount of risk in housing construction financing directly depends on the chosen financing mechanism, and its total value will consist of the sum of individual risks that arise at different stages of the process, and the amount of which can be estimated using different methods. It is necessary to develop a combined assessment model that not only combines different risks, but also considers them as a single object, the individual parts of which are not only related, but can also cross-influence each other. Such a model will combine economic-statistical, expert methods and methods of mathematical modeling.