Herald of Khmelnytskyi National University. Economic sciences
ISSN 2307-5740 ISSN (online) Публікується з липня 1997 року Видавництво: Хмельницький національний університет (Україна) Періодичність: 6 разів на рік Галузь знань та спеціальність: С - СОЦІАЛЬНІ НАУКИ, ЖУРНАЛІСТИКА ТА ІНФОРМАЦІЯ С1 - Економіка, С3 - Міжнародні відносини, D - БІЗНЕС, АДМІНІСТРУВАННЯ ТА ПРАВО D1 - Облік і оподаткування, D2 - Фінанси, банківська справа, страхування та фондовий ринок, D3 - Менеджмент, D4 - Публічне управління та адміністрування, D5 - Маркетинг, D7 - Торгівля. Мови рукопису: змішаними мовами: українська, англійська Редактори: Павло ГРИГОРУК (м.Хмельницький, Україна) Реєстрація суб’єкта у сфері друкованих медіа : Рішення Національної ради України з питань телебачення і радіомовлення №1373 від 25.04.2024. Ідентифікатор медіа: R30-03992 Реєстрація: Затверджено як наукове фахове видання України, у якому можуть публікуватися результати дисертаційних робіт на здобуття наукових ступенів доктора наук, кандидата наук та ступеня доктора філософії, категорії «Б» (наказ МОН №1643 від 28.12.2019). Умови ліцензії: автори зберігають авторські права та надають журналу право першої публікації разом з твором, який одночасно ліцензується за ліцензією Creative Commons Attribution International CC-BY, що дозволяє іншим ділитися роботою з підтвердженням авторства роботи та первинної публікації в цьому журналі. Заява про відкритий доступ: журнал "Herald of Khmelnytskyi National University. Economic sciences" забезпечує негайний відкритий доступ до свого змісту за принципом, що надання вільного доступу до досліджень для громадськості підтримує більший глобальний обмін знаннями. Повнотекстовий доступ до наукових статей журналу представлений на офіційному веб-сайті в розділі Архіви. Адреса: Науковий журнал "Herald of Khmelnytskyi National University. Economic sciences", Хмельницький національний університет, вул. Інститутська, 11, м. Хмельницький, 29016, Україна. Тел .: +380673817986 Електронна адреса: heraldes@khmnu.edu.ua Веб-сайт: https://heraldes.khmnu.edu.ua
ANTI-CORRUPTION TOOLS IN THE SYSTEM OF DETINIZATION OF THE ECONOMY
In the study, attention is paid to the issue of the effectiveness of the state anti-corruption policy and the provision of systemic detinization of the national economy and economic relations in Ukraine. The purpose of the study is to substantiate the anti-corruption tools for ensuring the detinization of the national economy. It is shown that in the conditions of the intensification of the process of Ukraine's integration into the European community, ensuring a high-quality and effective state anti-corruption policy, systematic and complex de-criminalization of economic relations in Ukraine acquires a decisive and very important importance. The main factors of positive influence on the process of detinization of the economy of Ukraine have been determined, namely the adoption, improvement and implementation of appropriate regulatory and legal acts, liberalization of the legal field of entrepreneurial activity, reduction of the level of taxation of the income of individuals, improvement of the functioning of the financial system in terms of the targeted use of budget funds through the prohibition of budget funds offsets, restrictions on non-monetary payments, ensuring the stability of the national currency, positive changes in the structure of the money supply, improving the population employment system by creating new jobs. Measures to prevent manifestations of corruption and shadow economic activity in Ukraine are substantiated. Economic tools for combating corruption and the shadow economy of Ukraine have been developed. Organizational-economic and economic-legal methods of combating the criminal economy are defined, in particular, the maximum limitation of the use of cash in circulation in economic relations; control over the legitimacy of the way of life of individuals through the implementation of passporting and control over the movement of personal property, departure from the absolute application of the principle of presumption of innocence in the field of confirmation of the legitimacy of income received by individuals; amnesty of shadow incomes. Tools have been developed to increase motivation to limit shadow activities and increase the efficiency of entrepreneurship. It has been proven that in order to detinize the economy of Ukraine, it is necessary to create an optimal system of the operating economic mechanism based on the constructive cooperation of the branches of government. It was established that Ukraine should continue the practices of overcoming systemic corruption, which should become conceptual provisions: continuation of work on further improvement of anti-corruption legislation, bringing it into line with international standards; development of projects of regulatory legal acts on inclusion in acts of legislation, which determine the principles of activity and status of civil servants; development of virtuous behavior of persons authorized to perform state functions, etc.
Copyright (c) 2025 Сергій ЯДУХА (Автор) https://creativecommons.org/licenses/by/4.0
USING A MACROECONOMIC APPROACH IN ASSESSING BUSINESS ACTIVITY
The study develops an integrated macroeconomic framework for assessing business activity in Ukraine, grounded in the synthesis of sectoral indicators, firm-level performance metrics, and macroeconomic aggregates. The methodological foundations of applying a macroeconomic approach to assessing business activity are considered, emphasizing the interdependence between microeconomic operating results and dynamics at the macro level. Particular attention is paid to the system of indicators that reflect production scale, profitability, financial sustainability, and investment behaviour of enterprises. The research justifies the role of macroeconomic cycles, structural shocks, and price dynamics in shaping firms’ performance trajectories and underscores the necessity of multi-component evaluation tools that can capture both short-term fluctuations and long-term structural patterns. The study examines the dynamics of output sales, operational profitability, financial results before taxation, capital investment flows, and the sectoral distribution of loss-making enterprises. These indicators are interpreted in relation to key macroeconomic aggregates such as GDP, consumer demand, trade balances, and production indices. The analytical part highlights the sensitivity of business activity to external shocks, including the pandemic-related disruptions in 2020 and the deep systemic contraction in 2022. At the same time, empirical evidence reveals the capacity of enterprises to restore operational efficiency during periods of partial macroeconomic stabilization. An integral index of business activity was constructed using normalized values ​​of real sales, operating profitability, financial results, and capital investment dynamics. Component weights are determined through a principal component–based weighting scheme. The resulting index, scaled from 0 to 100, captures major shifts in business behaviour: moderate growth in 2018-2019, contraction during the pandemic, peak expansion in 2021, a collapse due to wartime disruptions in 2022, and a subsequent recovery in 2023-2024. The index serves as a consolidated diagnostic tool enabling cross-year comparison, identification of cyclical turning points, and evaluation of the resilience of the business sector under macroeconomic stress conditions.
Copyright (c) 2025 Ольга ГОНЧАР, Сергій МОРОЗ (Автор) https://creativecommons.org/licenses/by/4.0
DIGITAL ECOSYSTEMS FOR THE DEVELOPMENT OF SMALL AND MEDIUM-SIZED BUSINESSES: OPPORTUNITIES AND RISKS
The article highlights the features of digital ecosystems as an instrument of structural modernization of small and medium-sized businesses under conditions of economic transformation. The dynamics of the entrepreneurial sector in 2010–2024 are examined. It is found that wartime and post-crisis periods have significantly influenced the parameters of entrepreneurial activity, strengthening the micro-dominant structure of the sector. It is emphasized that digital ecosystems form adaptive architectures based on network effects, modularity and cooperation between business entities. It is underlined that the technological prerequisites for the functioning of such ecosystems include artificial intelligence, cloud services, and big data analytics, which ensure automation, personalization, and forecasting of market changes. It is stated that international digital platforms (such as Google Cloud, Microsoft Azure, Shopify, Stripe) create infrastructural opportunities for scaling the activities of small and medium-sized businesses and integrating them into global innovation networks. It is determined that Ukraine’s public policy is gradually shifting towards deepening the digital transformation of entrepreneurship, which is evidenced by the adoption of strategic documents and the development of the Diia.Business network. It is noted that OECD recommendations on the digital readiness of small and medium-sized enterprises aim to remove regulatory barriers, improve digital skills, and increase business participation in technological ecosystems. It is defined that practical examples of Ukrainian initiatives (in particular, the Digital Maturity Programme for SMEs) confirm the real application of the ecosystem approach in entrepreneurial activity. It is established that the development of digital ecosystems contributes to the reformatting of business models, strengthening network interaction, and forming data-driven managerial decisions. It is clarified that the effectiveness of ecosystems depends on the combination of technological innovations, institutional support mechanisms, and the ability of enterprises to adapt to digital challenges.
Copyright (c) 2025 Оксана КУЛЬГАНІК, Людмила ДАВИДЮК (Автор) https://creativecommons.org/licenses/by/4.0
FORMATION AND FUNCTIONING OF THE GRAIN MARKET UNDER NEW CHALLENGES THROUGH THE APPLICATION OF CLOUD TECHNOLOGIES IN ACCOUNTING AND ANALYTICAL SYSTEMS FOR COST ANALYSIS AND AUDIT
The current stage of development of Ukraine’s agrarian economy is characterized by an intensification of systemic challenges caused by the transformation of global agricultural markets, the impact of martial law, disruptions in logistics chains, increased production risks, rising price volatility, and a general growth of economic uncertainty. Under these conditions, the grain market, as a core segment of the agri-food market and a key element in ensuring the country’s food and economic security, requires a rethinking of approaches to its formation and functioning, as well as the improvement of regulatory instruments in line with ongoing institutional and technological transformations. Of particular relevance is the issue of effective cost management by grain market participants, as the cost component largely determines the competitiveness of grain products, the financial sustainability of enterprises, their ability to adapt to crisis conditions, and the effectiveness of integration into global trade flows. The purpose of this article is to substantiate the theoretical and practical foundations of the formation and functioning of the grain market under new challenges through the application of cloud technologies in accounting and analytical management systems, as well as in cost analysis and audit, taking into account contemporary transformations of the agrarian sector. The article demonstrates those traditional systems of financial and managerial accounting, cost analysis, and audit in the agrarian sector are often insufficiently flexible and responsive, which complicates managerial decision-making under conditions of high market dynamics and increasing volumes of information. It is substantiated that cloud technologies form a new architecture of accounting and analytical systems by integrating primary accounting, management accounting, financial analysis, and audit procedures into a unified digital environment with real-time data access. It is determined that the use of cloud platforms enhances the transparency of costs by crops, technological operations, and responsibility centers, minimizes the risks of data loss or distortion, and improves the quality of cost planning through the use of analytical dashboards, scenario modeling, and forecasting tools. The application of the cost variance indicator is proposed as a basic instrument of accounting and analytical support for cost analysis and audit in the grain sector, enabling a quantitative assessment of the difference between actual and standard costs and serving as an indicator of the quality of managerial decisions within production and logistics chains of the grain market. It is shown that under digitalization conditions, cost auditing is transformed from retrospective control into a tool of continuous monitoring, while the automation of audit procedures reduces subjectivity and increases the reliability of financial information. The obtained results confirm that the application of cloud technologies in accounting and analytical systems for cost management, analysis, and audit is a key prerequisite for improving the efficiency of the grain market under new challenges, reducing production and logistics risks, strengthening the competitive positions of grain producers, and forming a more transparent and sustainable development model of the grain sector.
Copyright (c) 2025 Наталія КОРОБОВА, Наталія ВДОВЕНКО, Олена ГОЛОВНІНА (Автор) https://creativecommons.org/licenses/by/4.0
PRACTICAL ASPECTS OF ADMINISTRATIVE PLANNING AND CONTROL IN PROJECT MANAGEMENT
The article conducts a comprehensive scientific inquiry into administrative planning and control practices within project management, conceptualizing them as an integrated system of organizational procedures, standardized documentation protocols, and strategic managerial interventions. Unlike traditional functional approaches, this study offers an original interpretation of administrative activities as the "structural backbone" of project resilience. The author posits that effective administration is not merely a supportive function but a proactive regulatory mechanism designed to synchronize project objectives with strict temporal, qualitative, and financial constraints. The research introduces a proprietary conceptual model of the «Administrative Planning-Control Cycle». This model transcends the linear progression of tasks by integrating a continuous feedback loop that links documentation flow with real-time decision-making. By categorizing key practices, specialized tools, and organizational measures, the study identifies specific administrative levers that significantly enhance project performance. The scientific novelty lies in the synthesis of rigid bureaucratic accountability with agile management principles, creating a hybrid framework capable of mitigating systemic risks. Furthermore, the article provides evidence-based recommendations for implementing this administrative framework across both public and private sectors. Special emphasis is placed on the Ukrainian context, where the administrative environment is characterized by a transition from traditional hierarchical structures to flexible governance. The findings are uniquely adapted to the specificities of public administration and the operational realities of small and medium-sized enterprises in Ukraine. The study concludes that the institutionalization of standardized administrative procedures is a prerequisite for project success in volatile socio-economic environments, providing a scalable roadmap for practitioners and policy-makers alike.
Copyright (c) 2025 Руслан АТАМАНЮК (Автор) https://creativecommons.org/licenses/by/4.0
DIGITAL TRANSFORMATION OF THE BUSINESS PROCESS MANAGEMENT SYSTEM AT ENTERPRISES UNDER CONDITIONS OF INSTABILITY
The article examines the issues of digital transformation of business process management systems at enterprises operating under conditions of an unstable external environment. It is substantiated that increasing economic, technological, and regulatory instability complicates the coordination of business processes, increases managerial risks, and reduces the effectiveness of traditional management approaches. It is determined that fragmented implementation of digital technologies without their integration into a unified management system does not provide a systemic effect and limits the adaptability of enterprises. The purpose of the study is to provide a theoretical and methodological substantiation of approaches to the digital transformation of business process management systems under unstable conditions and to develop a holistic model aimed at increasing flexibility, coherence, and effectiveness of managerial decisions. The research summarizes modern scientific approaches to digital transformation of management, systematizes the main directions of business process digitalization, and identifies the role of information and analytical support in managerial decision-making. A model of digital transformation of the business process management system is proposed, integrating the impact of the unstable external environment, management functions, business processes, and digital technologies within a unified management logic. Special attention is paid to the feedback mechanism, which ensures continuous adjustment of managerial decisions in accordance with changes in external conditions and the performance results of business processes. The proposed model enables a transition from fragmented and reactive management to integrated, data-driven management, enhancing transparency, reducing management cycles, and increasing organizational adaptability. The practical implementation of the proposed model creates prerequisites for improving manageability, flexibility, and sustainability of enterprise operations in conditions of external instability, contributing to more effective use of digital technologies and improved coordination of business processes.
Copyright (c) 2025 Олена КОСІЮК, Микита РЄПІН (Автор) https://creativecommons.org/licenses/by/4.0
CRYPTOCURRENCY AS DIGITAL ASSETS: FUNCTIONS, CLASSIFICATION AND GLOBAL REGULATORY PRACTICE
The article examines the essence of cryptocurrencies as a new form of digital assets, their economic and technological status in the modern financial system. Key approaches to defining cryptocurrency are analyzed, and its main characteristics are highlighted – decentralization, transaction irreversibility, lack of an issuer, and programmability. Cryptocurrencies are classified by functional purpose (payment, utilitarian, investment, management, NFT), technological basis (proprietary blockchains, tokens on smart contracts), value stability mechanism (stablecoins versus volatile coins), and level of decentralization. The main functions of cryptocurrencies are considered: a means of circulation, a store of value, a measure of value, and a programmable currency. Advantages are identified – transaction speed, globality, financial inclusion, as well as significant limitations: volatility, legal uncertainty, energy consumption, cybersecurity risks, and illegal use. International approaches to regulating cryptocurrencies are analyzed: from bans in individual countries to flexible regulation, licensing of providers, as well as initiatives to introduce central bank digital currencies (CBDC). Recommendations for Ukraine and developing countries are separately substantiated: it is proposed to improve the legislative framework for digital assets, create a reliable financial and technological infrastructure, increase the financial literacy of the population, as well as introduce mechanisms to protect investors and minimize technical risks. The prospect of further development through the integration of hybrid tokens, CBDC and new forms of digital assets is expressed, which can increase the stability, transparency and efficiency of national and global financial systems.
Copyright (c) 2025 Олена ХАРУН, Леся ГРИЦИНА (Автор) https://creativecommons.org/licenses/by/4.0
RISK-ORIENTED APPROACH IN FORMING SUSTAINABLE DEVELOPMENT OF THE NATIONAL ECONOMY UNDER DIGITAL TRANSFORMATION
The modern economy is characterized by the active use of digital technologies as one of the key factors of economic growth. Digital transformation creates new opportunities for development, but at the same time it creates risks and threats to economic stability, competitiveness of national economies, social balance and security of information systems, which necessitates their timely identification and management. The article examines the features of a risk-oriented approach in shaping the sustainable development of the national economy in the context of digitalization. The main attention is focused on the systematization of risks arising in the process of digital transformation and the development of tools for their quantitative assessment. A classification of digital risks is proposed according to key groups, in particular economic, social, technological, cybernetic, environmental and institutional, which allows for a comprehensive coverage of the multidimensional nature of the impact of digitalization on sustainable development. The feasibility of using an integrated approach to assessing digital risks based on the calculation of the Digital Risk Index, which provides the ability to quantitatively determine the level of vulnerability of regions and sectors of the economy to the negative manifestations of digital transformation, is substantiated. The proposed index allows aggregating various indicators into a single generalized assessment, which increases the analytical value of the research results and creates a basis for their practical use. It is shown that the implementation of a risk-oriented approach creates the prerequisites for the formation of an adaptive system for managing the sustainable development of the national economy and minimizing the negative consequences of digital transformation.
Copyright (c) 2025 Тетяна КМИТЮК, Тетяна БІЛИК, Олена КАЧАН (Автор) https://creativecommons.org/licenses/by/4.0
THE INFLUENCE OF GLOBAL TRANSFORMATIONS ON THE SOCIO-ECONOMIC SUPPORT FOR THE DEVELOPMENT OF RURAL AREAS OF UKRAINE IN THE POST-WAR PERIOD
The article examines the impact of global transformations on the socio-economic support for the development of rural areas in Ukraine under wartime challenges and post-war recovery. It is substantiated that the combination of economic, social, environmental, digital, and institutional changes forms a new architecture of spatial development and determines the resilience of rural communities to external shocks. It is shown that the full-scale war has significantly intensified structural problems of rural territories, including declining investment activity, labor outmigration, infrastructure destruction, and reduced employment. The study analyzes the dynamics of key socio-economic indicators of rural development in Ukraine during 2015–2024, which made it possible to identify trends in investment flows, wage levels, and employment in the agricultural sector. Socio-economic support for rural development is interpreted as a comprehensive system that includes economic, social, infrastructural, institutional, and environmental components, the interaction of which creates the basis for an innovation-oriented model of sustainable development. A multi-level model of rural development management in the post-war period is proposed, integrating national, regional, economic, social-educational, and environmental levels. It is argued that the implementation of this model will promote economic diversification, human capital development, digitalization of governance, the introduction of green economy principles, and improvement of the quality of life of the rural population. The study concludes that the adaptation of Ukraine’s rural areas to global transformations is a key prerequisite for their sustainable development and integration into the European space of sustainable growth.
Copyright (c) 2025 Олександр ЯЦЕНКО, Ольга ЯЦЕНКО (Автор) https://creativecommons.org/licenses/by/4.0
FORMATION OF AN ORGANIZATIONAL AND ECONOMIC MECHANISM FOR DEVELOPING THE ECONOMIC POTENTIAL OF AN ENTERPRISE
The article explores the theoretical and methodological foundations of forming strategic decisions in managing the process of developing the economic potential of an enterprise, which serves as a determining factor for ensuring its sustainable growth and competitive resilience in the modern economic environment. It emphasizes that the development of economic potential should be considered not merely as an increase in available resources but as a qualitative transformation of the enterprise’s capabilities in response to internal and external challenges. The study systematizes the principles of building an organizational and economic mechanism that integrates structural, informational, and managerial subsystems, providing coordinated interaction among the key elements of the enterprise’s management system. This mechanism ensures the dynamic development of economic potential through the combination of strategic, tactical, and operational management levels. Special attention is devoted to the methodological aspects of assessing the enterprise’s economic potential, which include the evaluation of competitiveness, resource efficiency, innovative capabilities, and adaptability to environmental changes. The article proposes a conceptual model of strategic decision-making, which encompasses comprehensive and element-wise assessment of potential, identification of development goals, selection of criteria and influencing factors, and implementation of feedback-based control mechanisms. The results highlight that the development of an enterprise’s economic potential is a continuous and cyclical process requiring constant monitoring, analytical support, and flexible managerial tools. The research outcomes can be practically applied in the design and implementation of strategic management systems aimed at strengthening enterprise adaptability, increasing the efficiency of resource utilization, and fostering innovative development.
Copyright (c) 2025 Віталій ВИШНЮК (Автор) https://creativecommons.org/licenses/by/4.0
ADAPTATION STRATEGIES OF TRANSNATIONAL GRAIN TRADERS FACING GEOPOLITICAL SHOCKS AND FINANCIAL, LOGISTICS, INFRASTRUCTURE AND ENERGY CHALLENGES
The war in Ukraine, unleashed by the Russian Federation, has become an event of global political and economic scale – it has completely unbalanced the world economic system, jeopardized global food and energy security and created a number of other economic asymmetries. For Ukraine, whose economy has recently relied to great extent on the grain industry and grain trading, this has become a special test. Its development model has undergone significant transformations, and, first of all, the emphasis has shifted to the decisive role of the main institutions-actors that determine the fate of the national and world economy and their dynamics and stability. Using the example of the realization of Ukraine's grain export potential in wartime, this study analyzes the role of transnational actors - grain traders, with an emphasis on the flexibility of their energy, logistical, financial and infrastructure strategies. The authors concluded that in the conditions of fierce confrontation between states, global imbalances in the food security system caused by the war stimulated the world community to find new ways to solve this problem. As a result, mechanisms of bilateral and multilateral economic diplomacy were activated and comprehensive political and economic support was provided to Ukraine. State support provided to producers and grain traders by Ukraine was also focused on ensuring world food security. However, the main effective actors in the negotiation process during the war are transnational grain and grain trading corporations, which, at the same time, used their economic potential to strengthen energy security, build new infrastructure, form financial networks in Ukraine, organize international logistics and a whole range of innovative strategies that were not inherent in them in the pre-war period. Corporate diplomacy and economic activity of transnational grain trading corporations was more effective than the political will of states and the world community. International grain traders have shown unprecedented resilience, transforming from pre-war models focused on minimizing costs to operations focused on risks and reservations. The new paradigm is based on multi-route reservations, dynamic contracting, strategic buffering in third countries and deep integration of geopolitical intelligence into daily trading decisions. The Ukrainian case has become a global benchmark for commodity trading in the context of a protracted military conflict and is already influencing corporate strategies in other vulnerable grain-exporting regions.
transnational grain trading corporations
integration of geopolitical and geoeconomic intelligence into daily trading decisions
Copyright (c) 2025 Наталія ТАТАРЕНКО, Інна НАБОК (Автор) https://creativecommons.org/licenses/by/4.0
METHODOLOGY FOR MEASURING THE LOGISTICAL POTENTIAL OF AN INDUSTRIAL ENTERPRISE
The article substantiates the relevance of improving methodological approaches to measuring the logistics potential of an industrial enterprise in the context of increasing supply chain complexity, digital transformation, market turbulence, and heightened uncertainty of the external environment. Logistics potential is interpreted as an integrated systemic characteristic of an enterprise’s ability to form, coordinate, and develop material, information, and financial flows in accordance with strategic objectives and changing operating conditions. Unlike traditional approaches that focus mainly on the availability of logistics resources, the proposed concept emphasizes the quality of their interaction, management efficiency, and the synergistic effects arising from the coordinated functioning of logistics subsystems. The study systematizes existing scientific approaches to defining logistics potential and identifies key structural components, including material and technical, production and distribution, information and digital, human resources, organizational, and managerial subsystems. An improved methodology for measuring the logistics potential of an industrial enterprise is proposed, based on a combination of quantitative and qualitative indicators and the introduction of a logistics synergy coefficient. This coefficient reflects the degree of coherence and mutual reinforcement among logistics subsystems and allows capturing non-linear effects that cannot be identified through partial indicators alone. The practical significance of the proposed approach lies in its applicability for diagnosing the current state of an enterprise’s logistics system, identifying internal reserves for improvement, and substantiating strategic decisions regarding logistics development. The use of the integral indicator enables enterprises to enhance adaptability, reduce logistics costs, increase resilience to disruptions, and strengthen competitive positions in both domestic and international markets.
Copyright (c) 2025 Сергій ВИШНЮК (Автор) https://creativecommons.org/licenses/by/4.0
INTERNATIONAL TRENDS IN THE DEVELOPMENT OF INNOVATIVE HR TECHNOLOGIES IN THE CONTEXT OF THE DIGITAL ECONOMY
The aim of the article is to analyze international trends in the development of innovative HR-technologies and to assess their impact on personnel management efficiency within the context of the digital economy. The study employs a combination of research methods, including system analysis, comparison and synthesis, as well as a structural-functional approach, to examine the adoption, integration, and effectiveness of digital HR solutions across diverse organizational and cultural environments. The findings demonstrate that the implementation of digital HR platforms, advanced data analytics, online learning tools, and automation of administrative HR processes significantly enhances workforce productivity, fosters the formation of agile and adaptive teams, and strengthens the strategic responsiveness of organizations in rapidly changing market conditions. The scientific novelty of the research lies in the systematic synthesis of global best practices and innovative HR models, highlighting the role of digital HR technologies as key drivers of organizational competitiveness, employee engagement, and continuous performance improvement. The study also emphasizes the importance of aligning HR digitalization strategies with overall corporate digital transformation initiatives, ensuring that technological adoption is accompanied by appropriate organizational, cultural, and managerial adjustments. Moreover, the research identifies critical success factors for international HR technology implementation, including leadership support, data-driven decision-making, employee digital literacy, and integration with other business functions. The practical significance of the study is reflected in its potential to guide managers and HR professionals in leveraging international experience for optimizing personnel management practices, enhancing employee development, and promoting innovation within organizations. The article provides actionable insights for adopting emerging HR tools, including AI-based recruitment and performance evaluation systems, cloud-based collaboration platforms, and predictive analytics for talent management. By examining trends across different countries and industries, the study offers a comprehensive framework for organizations seeking to achieve sustainable growth, improve workforce adaptability, and maintain a competitive edge in the digital economy.
Copyright (c) 2025 Ганна ПИСАРЕВСЬКА, Микола ПИСАРЕВСЬКИЙ, Данило МУХА (Автор) https://creativecommons.org/licenses/by/4.0
GREEN ECONOMY AND GREEN GROWTH AS A CONCEPTUAL BASIS FOR TRANSFORMING THE COMPETITIVENESS MANAGEMENT PARADIGM
The article substantiates the conceptual significance of the green economy and green growth as interrelated components of a holistic paradigm for transforming the competitiveness management of the national economy in the context of sustainable development, European integration, and the aggravation of global environmental and climate challenges. The evolution of scientific approaches to interpreting the essence of the green economy and green growth is revealed, their key substantive characteristics are systematized, and their complementary nature within the modern paradigm of socio-economic development is substantiated. It is determined that the green economy serves as a target platform for transformations focused on preserving and accumulating natural capital, strengthening social inclusion, and ensuring environmental security. In contrast, green growth serves as a strategic tool for implementing this platform through a system of economic, institutional, and innovation mechanisms. It is substantiated that the transition to a green paradigm of competitiveness management entails a change in the logic of competitive advantage formation – from extensive resource use to resource efficiency, technological flexibility, and ecological innovation. The role of ESG principles, digitalization of environmental indicators, development of green markets, and low-carbon technologies in the formation of new criteria for assessing the competitiveness of economic systems is revealed. Qualitative features of the green economy are identified, reflecting its systemic nature, in particular, the integrative nature of resource flows, the ecologized cost structure, the reproducibility of the resource base, spatial equilibrium, and social inclusiveness of environmental changes. It is substantiated that the implementation of the principles of the green economy and green growth is a strategic prerequisite for increasing Ukraine's economic sustainability, energy security, and competitiveness in the context of post-war recovery and integration into the European economic space.
Copyright (c) 2025 Ольга МАЙСТРЕНКО (Автор) https://creativecommons.org/licenses/by/4.0
INSTITUTIONAL BARRIERS AND DYSFUNCTIONS IN IMPLEMENTING ESG PRINCIPLES IN DIGITAL MANAGEMENT MODELS
This article examines institutional barriers and dysfunctions in implementing ESG principles within digital management models, with a particular focus on construction enterprises. ESG digitalisation is conceptualised as an institutionally driven transformation in which ESG goals move beyond communication and reporting to become managerial rules, procedures, and decision-making criteria. The study is grounded in an institutional approach and structural–logical modelling of relationships between the external regulatory–institutional environment, the internal corporate governance layer, and the digital management layer. A three-layer structure of ESG digitalisation is proposed, demonstrating that misalignments between these layers represent the root causes of persistent managerial dysfunctions. Five groups of institutional barriers are systematised (regulatory and standard-setting; organisational and managerial; data and verification; stakeholder coordination within the project ecosystem; and incentives and the managerial economics of ESG), and the mechanism through which they translate into typical dysfunctions of digital management models is explained. These dysfunctions include the “ESG showcase” effect, the data gap, the accountability gap, and conflicts between KPIs and incentives. For the construction sector, the article highlights the role of multi-actor project ecosystems and the project-based nature of operations, which intensify fragmentation of standards, data, and accountability and generate a persistent “cost/time versus ESG” criteria conflict. The practical value of the findings lies in defining priorities for the institutional reconfiguration of ESG digitalisation, including the development of ESG data governance, standardisation of metrics, formalisation of verification procedures, institutionalisation of accountability, and alignment of KPIs with ESG criteria as prerequisites for transforming digitalisation into measurable ESG performance.
Copyright (c) 2025 Олег ОНОФРІЙЧУК (Автор) https://creativecommons.org/licenses/by/4.0
TRANSFORMATION OF STATE LOGISTICS POLICY IN THE CONDITIONS OF SOCIO-ECONOMIC CHALLENGES
The purpose of the article is to substantiate the theoretical and methodological principles and determine the directions of transformation of the state logistics policy in the conditions of modern socio-economic challenges, as well as to determine the directions for improving the mechanisms of state regulation of logistics processes. The article examines the theoretical and methodological principles and the practical aspects of transforming state logistics policy in the context of modern socio-economic challenges. The essence of state logistics policy is a complex of regulatory, institutional, infrastructural, and financial measures aimed at ensuring the effective functioning of the transport and logistics system, increasing the competitiveness of the economy, and stimulating socio-economic development. The role of logistics as a strategic tool for modernizing economic systems, which reduces transaction costs, accelerates capital turnover, and integrates national producers into global supply chains, is substantiated. The approaches to state regulation of the logistics sector are analyzed, and the advantages and limitations of direct and indirect mechanisms of influence are determined. Special attention is paid to the problems of developing transport and logistics infrastructure, digitalization of flow process management, greening of transportation, and the formation of adaptive strategies for state logistics policy. Based on the generalization of domestic and foreign experience, directions for improving state management in the field of logistics are determined: modernization of transport and logistics networks, introduction of innovative digital technologies, development of public-private partnership, harmonization of the regulatory framework with international standards, and stimulation of “green” logistics. It is substantiated that the comprehensive implementation of these directions provides a synergistic effect of socio-economic activation, contributes to the diversification of regional economies, increases the investment attractiveness of territories, and strengthens integration ties in the global economic space.
Copyright (c) 2025 Володимир ГУПАЛО, Богдан САМОЙЛЕНКО (Автор) https://creativecommons.org/licenses/by/4.0
THEORETICAL AND METHODOLOGICAL ASPECTS OF AN ENTERPRISE STRATEGIC ACCOUNTING SYSTEM FORMATION
The article reveals the theoretical and methodological principles of strategic accounting system development at the enterprise as the basis for the formation of information support for strategic management. The essence, functions, and principles of strategic accounting are determined, and its differences from the traditional accounting system are presented. It is emphasized that strategic accounting is oriented towards the future and the development of activities and should integrate financial and non-financial indicators, as well as internal and external information, necessary for making strategic decisions. The conceptual model of strategic accounting is proposed based on the principles of systematicity, adaptability, relevance, continuity, integration, and purposefulness. Particular attention is paid to the methodical tools of strategic accounting: Activity-Based Costing, target costing, value chain analysis, life cycle costing, balanced scorecard, and benchmarking. For each of them, the advantages and disadvantages of the application are identified, and the effects of their implementation are indicated. The comprehensive application of these methods will ensure the formation of information support for the strategic management process. However, for an optimal and relevant choice, it is necessary to rely on the functional features of the methods, as well as their advantages and disadvantages in application. An approach to creating a chart of strategic accounts is proposed, which involves introducing specialized accounts to reflect strategic investments, costs, intangible assets, and reserves. Such detailing provides a comprehensive reflection of the strategically important elements of the enterprise's activities that underpin the company's competitive advantages and long-term value. The results of the study have practical importance for improving the accounting system and analytical support for strategic management, increasing the efficiency of planning, control, and assessment of the implementation of the enterprise's strategy. The implementation of the proposed approach will contribute to strengthening competitiveness, ensuring sustainable development, and the strategic development of enterprises amid dynamic changes in the external environment.
Copyright (c) 2025 Сергій РУДЕНКО, Володимир ОРЕЛ, Наталія ЛАГОДІЄНКО, Наталія БІРЧЕНКО, Антон МОРОЗ (Автор) https://creativecommons.org/licenses/by/4.0
INTEGRATED INVESTMENT CLIMATE AS A KEY FACTOR FOR SUSTAINABLE DEVELOPMENT OF UKRAINE’S ECONOMY
The object of the study in the article is the problems of forming an integrated investment climate of Ukraine in the context of creating prerequisites for sustainable development. Special attention is paid to the role of the integrated system of investment climate components in ensuring the institutional efficiency of the economic system, in forming stable and predictable conditions for investment activity, and in promoting the reorientation of investment flows toward the priorities of sustainable development. The components of the integrated investment climate and the features of their mutual influence are revealed and characterized. The key role of the institutional component in the integrated investment climate system is revealed. It is proven that the structural ramification of the integrated system of the investment climate and the coordinated interaction of its components are two defining features that form the potential for sustainable development. Attention is focused on the fact that despite the prolonged military and political turbulence caused by external aggression, the issue of the transition of the national economy of Ukraine to a model of sustainable development retains the status of a fundamental reference point in the system of socio-economic reforms, post-war recovery processes, and the development of a competitive economic system on a new structural basis. It has been proven that an integrated investment climate plays a decisive role in ensuring the progressive development of the economic system in the direction of sustainable development, since it acts not only as a factor in increasing investment attractiveness, but also as an important tool for strengthening the adaptability of the national economy based on the activation of a complex of mechanisms for its self-development. The need to integrate sustainability priorities into the mechanisms of economic policy for post-war economic development is substantiated as an important condition for the formation of a qualitatively new basis for progress toward sustainable development.
Copyright (c) 2025 Тарас КОЦКО, Ліна АРТЕМЕНКО (Автор) https://creativecommons.org/licenses/by/4.0
INSTITUTIONAL MECHANISM FOR IMPLEMENTING STATE INFORMATION POLICY IN THE CONDITIONS OF DIGITAL TRANSFORMATION
The article carries out a comprehensive study of the institutional mechanism for implementing state information policy in the context of digital transformation, which fundamentally changes approaches to public administration, communication and interaction of the state with civil society. The evolution of theoretical approaches to the institutional analysis of information policy is considered, the importance of institutional stability as a key prerequisite for the effective functioning of the state administration system in the context of dynamic socio-political and technological changes is substantiated. The content and structure of the institutional mechanism for implementing state information policy are determined, which includes regulatory and legal support, the system of state authorities, mechanisms of interinstitutional coordination, digital tools for managing information flows and channels of strategic communications. The impact of digitalization on the transformation of traditional management models is analyzed, in particular, the transition from hierarchical forms of information influence to network and interactive models of state communication. Particular attention is paid to the current challenges of implementing state information policy, including threats to information security, the spread of disinformation, the fragmentation of regulatory and legal regulation, the insufficient level of digital competence of officials and unequal access of citizens to digital resources. The peculiarities of the functioning of the institutional mechanism in conditions of martial law, when information policy acquires strategic importance for ensuring national security and social stability, are highlighted. The need to adapt the state information policy of Ukraine to European standards in the context of European integration processes, the development of digital governance and the formation of a positive state brand is substantiated. It is concluded that an effective institutional mechanism for implementing state information policy should be based on the principles of transparency, openness, inter-sectoral interaction and technological innovation, and also be focused on strengthening citizens' trust in state institutions in the digital information space.
Copyright (c) 2025 Денис ДУБОВИК (Автор) https://creativecommons.org/licenses/by/4.0
CURRENT TRENDS IN THE DEVELOPMENT OF THE GLOBAL TOURISM SERVICES MARKET
The article is devoted to a comprehensive analysis of the current state and key trends shaping the development of the global tourism services market. Drawing on up-to-date statistical data provided by leading international organizations — including the UN World Tourism Organization (UNWTO), the World Travel & Tourism Council (WTTC), and the Organisation for Economic Co-operation and Development (OECD) — the study identifies the structural characteristics of the market, examines the geographical distribution of international tourist flows, and outlines the main segments of tourism supply. Special attention is given to the most significant contemporary trends that determine the trajectory of global tourism development. In particular, the authors emphasize the growing influence of digitalization and technological innovation, the expansion of sustainable and eco-friendly tourism practices, the increasing personalization of tourism products and services, and the heightened importance of safety standards for travelers in a post-pandemic environment. The article also highlights the critical role of social media platforms and digital communication ecosystems in shaping tourism demand, consumer preferences, and destination image formation. Based on the conducted analysis, the article formulates a set of practical recommendations for tourism enterprises and stakeholders. These recommendations aim to support effective adaptation to the rapidly changing global environment, enhance competitiveness, foster sustainable development, and improve strategic decision-making within the tourism sector.
Copyright (c) 2025 Ігор ЖУРБА, Галина ЩУКА, Юрій ЦВІГУН (Автор) https://creativecommons.org/licenses/by/4.0
JUSTIFICATION OF DIRECTIONS FOR IMPLEMENTING THE FINANCIAL POLICY OF THE ENTERPRISE
This article broadly reveals the essence of the financial policy of the enterprise, where its components are methods, mechanisms and tools for conducting analytical research and evaluation procedures. This is evidenced by the fact that due to the existence and observance of the financial policy at the enterprise, significant opportunities arise to identify more tangible reserves and potentials for the implementation of long-term goals and to ensure further development. This justifies the purpose of the article, which is a more in-depth study of the financial policy of the enterprise, which considers not only the activation of cash flows or the ability to perform payment transactions, but also the widespread conduct of analytical research and evaluation procedures. The most common process of implementation and implementation into actual achievements of the components of the financial policy is planning, due to which future directions of activity are predicted, which is evidenced by taking into account all the contributions available to the enterprise. Planning is mainly focused on clearly established goals, which include all existing results in accordance with the types and volumes of the contributed resources in translation into cost units. The same should be noted that planning has incorporated management mechanisms and tools for analytical research and evaluation procedures. Based on this, it is established that financial policy, having a complex that provides managers with ways and approaches to solving issues and problems, translating results and achievements into cost measurements, and even increasing competitiveness through the acquisition of advantages, through planning. This confirms that financial policy for each enterprise has a special purpose, due to which the continuity of its own activities occurs, for which all necessary means and resources are identified both in terms of sources and channels of acquisition and areas of use. This proves that the implementation features of financial policy are reflected in the sequence of its implementation in the internal space of the enterprise, which means identifying resource capabilities, reducing them to cost expressions, which reflects their combination with the results and achievements obtained.
Copyright (c) 2025 Олександр БАСОК, Наталія БІЛЕЦЬКА, Павло ІВАНЮТА, Геннадій ЖУЙКОВ, Євгеній ДЯЧУК (Автор) https://creativecommons.org/licenses/by/4.0
PUBLIC ADMINISTRATION MECHANISMS IN THE IMPLEMENTATION OF LOCAL AND REGIONAL PROGRAMS IN THE CONTEXT OF DECENTRALIZATION OF POWER
The article presents a thorough theoretical and applied study of public management mechanisms for the implementation of local and regional programs in the context of decentralization of power in Ukraine. It is substantiated that the transformation processes taking place in the field of public management in the context of decentralization necessitate a rethinking of traditional approaches to the formation, planning and implementation of development policies at the local and regional levels. Special emphasis is placed on the essence, structure and functioning of public management mechanisms that ensure the effective implementation of territorial development programs and projects. The content of the program-project approach is revealed as a key tool of modern strategic management, which allows combining target benchmarks with resource provision tools and performance assessment indicators. The work systematizes the main components of public management mechanisms, in particular institutional, regulatory, information-analytical, financial-economic, personnel and technological. Based on the analysis of scientific sources, modern legislative framework and examples from the practice of local government, it was established that the key factors for the successful implementation of local programs are well-established interagency cooperation, a sufficient level of budgetary autonomy of communities, professional capacity of management personnel, transparency of decision-making procedures, as well as digital transformation of management processes. The main challenges that complicate the effective implementation of public administration in the regions are identified: uneven development of territorial communities, staff shortage, fragmentation of regulatory and legal support, imperfection of monitoring and evaluation mechanisms. The feasibility of a comprehensive approach to the modernization of management mechanisms with a focus on strengthening the capacity of communities, developing digital infrastructure, improving the strategic planning system and increasing citizen participation in decision-making is substantiated. The importance of implementing international project management practices adapted to Ukrainian realities is also emphasized.
Copyright (c) 2025 Антон ГАЙДУК (Автор) https://creativecommons.org/licenses/by/4.0
INNOVATIVE TOOLS FOR STATE REGULATION OF SUSTAINABLE DEVELOPMENT OF THE CONSTRUCTION INDUSTRY
The article analyses the use of innovative state regulatory instruments for the sustainable development of the construction industry. This industry is key to the Ukrainian economy, providing jobs and stimulating related sectors. The upcoming post-war recovery, Ukraine's obligations to join the EU, and today's global challenges highlight the need to rethink approaches to effectively regulating the construction industry. Traditional regulatory instruments do not always provide a stable balance of economic, environmental, and social interests, necessitating the implementation of innovative mechanisms of state influence focused on energy efficiency, greening of production, digitalization of processes, and the stimulation of responsible behavior by business entities. State support for the construction industry is a necessary condition for its further existence and development. As a result of the study, it was found that innovative instruments of state regulation play a key role in ensuring the sustainable development of the construction industry, as they enable the integration of economic efficiency, environmental safety, and social responsibility. The study showed that the comprehensive application of economic, institutional, environmental, digital, and social instruments of state regulation increases the competitiveness of the construction industry, reduces the negative environmental impact, and improves the quality of life of the population. At the same time, several restraining factors were identified, including institutional constraints, insufficient financial support for innovation, and fragmented regulatory and legal support. In view of this, further scientific research should be directed to the following areas: developing methodological approaches to assessing the effectiveness of innovative instruments of state regulation in the construction industry; deepening research on the adaptation of European practices of "green" and sustainable construction to national conditions.
Copyright (c) 2025 Оксана ЄРМОЛЕНКО (Автор) https://creativecommons.org/licenses/by/4.0
STRATEGIC DIRECTIONS FOR ENSURING THE STABLE FUNCTIONING OF AGRIBUSINESS ENTERPRISES AND RURAL AREAS IN THE CONTEXT OF POST-WAR RECOVERY OBJECTIVES
The article examines the strategic directions for ensuring the stable functioning of Ukraine’s agribusiness sector and rural territories under conditions of sharp external volatility caused by the combination of military risks, economic shocks, and climate change. Based on a comprehensive analysis of the key challenges of 2024-2025 including disruptions of production cycles due to hostilities, logistical constraints, rising resource costs, labour shortages, and regulatory instability the study substantiates the need for agricultural enterprises to transition toward adaptive and flexible development models. Data from the FAO, the World Bank, national statistics, and contemporary scientific research are used to identify transformation trends within the agricultural sector, assess the scale of losses, and construct a systemic understanding of how crisis factors affect the production and financial resilience of agribusiness.The study formulates a system of strategic directions aimed at restoring and strengthe ning the resilience of the agricultural sector. These include diversification and flexibility of production models, the implementation of digital technologies and precision farming, process automation, the development of new financial instruments (such as agricultural receipts, commodity derivatives, crop insurance, and portfolio guarantees), the strengthening of rural communities and cooperative structures, as well as ecological and climate adaptation. Special attention is given to post-war priorities that will determine the sector’s development trajectory in the medium term: demining and returning agricultural land to productive use, the reconstruction of critical infrastructure (grain storage facilities, irrigation systems, and logistics routes), the modernization of state financial support mechanisms, and the creation of favourable conditions for attracting private investment. Based on these components, the paper proposes the model «Resilient Agribusiness Enterprise 2030» which outlines key parameters of future development, including increased processing capacity, growth in energy autonomy, expanded insurance coverage, deeper digital integration, and enhanced socio-economic resilience of rural territories.
Copyright (c) 2025 Денис ТІТОВ, Юлія ОХОТА, Ілля ЧІКОВ, Світлана ДОЦЮК (Автор) https://creativecommons.org/licenses/by/4.0
SCIENTIFIC RESEARCH AND ADHERENCE TO ACADEMIC INTEGRITY IN THE CONTEXT OF ARTIFICIAL INTELLIGENCE DEVELOPMENT
The article explores the evolutionary relationship between the development of science and human intellect, emphasizing science as a social institution, a form of organized activity, and a structured system of knowledge. Particular attention is paid to the rapid integration of artificial intelligence (AI) technologies into scientific research and higher education, which fundamentally transforms traditional research practices, analytical processes, and educational methodologies. In this context, academic integrity is identified as a crucial condition for ensuring the reliability, transparency, and ethical validity of scientific and educational outcomes. The study highlights that artificial intelligence provides substantial advantages, including accelerated data processing, advanced analytical capabilities, modeling, forecasting, and the automation of routine research tasks. At the same time, the widespread use of generative and multimodal AI systems introduces significant risks related to academic misconduct, loss of originality, authorship ambiguity, algorithmic bias, and the dissemination of unreliable or insufficiently verified results. These challenges intensify the need for clear ethical standards, legal regulation, and institutional policies governing the use of AI in academic environments. The article analyzes key stages in the evolution of science and artificial intelligence, demonstrating that AI represents a logical continuation of post-non-classical scientific development, where information and cognitive processes become central research paradigms. Definitions of core concepts such as artificial intelligence, neural networks, AI systems, and chatbots are systematized in accordance with current legislation and academic discourse. The dual impact of AI on both educators and students is examined, outlining its positive contributions to personalization of learning and research efficiency, alongside its potential negative consequences for critical thinking and academic culture. The authors conclude that maintaining high ethical standards in contemporary digital science requires the responsible, transparent, and critically reflective use of artificial intelligence tools, combined with strict adherence to the principles of academic integrity. The article substantiates the necessity of developing regulatory mechanisms and institutional guidelines that balance technological innovation with the preservation of trust, originality, and credibility in scientific research and education.
Copyright (c) 2025 Михайло ВЕДЕРНІКОВ, Марія ЗЕЛЕНА, Олена МАНТУР-ЧУБАТА, Анатолій МИХАЛЬЧУК (Автор) https://creativecommons.org/licenses/by/4.0
METHODOLOGICAL APPROACH TO THE ASSESSMENT OF INNOVATION RISKS IN THE INTEGRATION OF AI SYSTEMS (ADAS/CMS) INTO THE OPERATIONS OF TRANSPORT ENTERPRISES
The article substantiates a methodological approach to assessing innovation risks arising from the integration of Artificial Intelligence systems (ADAS/CMS) into the operations of domestic transport enterprises. The approach consists of four stages: 1) preparation and context establishment; 2) risk identification and classification; 3) risk assessment and analysis; 4) mitigation, monitoring, and strategy refinement. The study provides a systematization and categorization of key AI integration risks into six categories: technological (technical aspects of AI functioning, including component, algorithm, and integration reliability); operational (risks arising from AI-human interaction and enterprise processes); cybersecurity (threats of external interference affecting data integrity, control, and AI system confidentiality); legal and insurance (regulatory compliance, liability, and financial protection mechanisms); ethical and social (moral, societal, and psychological aspects, including bias and AI perception); and financial (economic aspects of AI implementation and operation). The dynamic risk assessment matrix is built as a 5x5 grid, taking into account the specifics of enterprises, such as: operational resilience, interaction with infrastructure and stakeholders. The approach was validated using SCRAM scenario modeling and expert methods. It was established that cybersecurity, financial, legal, and insurance risks pose the greatest threat, while ethical and social risks are moderate yet dynamic, requiring continuous monitoring. The developed risk mitigation strategies include technical, organizational, regulatory, and social measures that ensure the reduction of threat levels to manageable values. The proposed methodological approach is universal and can be adapted to various types of domestic transport enterprises with different levels of automation and stages of AI system implementation.
Copyright (c) 2025 Володимир ВОЛІКОВ, Ігор ПАНЧЕНКО (Автор) https://creativecommons.org/licenses/by/4.0
STRATEGIC DIRECTIONS FOR ENSURING STABILITY OF THE FINANCIAL ECOSYSTEM OF UKRAINE
The article examines the transformation of Ukraine’s financial ecosystem under the conditions of a full-scale war and identifies the key drivers of its resilience. The study argues that, despite severe economic shocks, infrastructure destruction, and heightened uncertainty, Ukraine’s financial system has demonstrated a remarkable capacity to maintain core functions. This resilience has been ensured through a combination of unconventional monetary and regulatory measures implemented by the National Bank of Ukraine, institutional strength of the banking sector, rapid digitalization of financial services, operational continuity of payment infrastructure, and unprecedented international financial assistance. The paper emphasizes that digital finance and FinTech solutions have played a critical role in preserving access to financial services for households and businesses amid population displacement, power outages, and security risks. The widespread adoption of cashless payments, mobile banking, digital government platforms, and emergency initiatives such as «Power Banking» significantly enhanced the adaptive capacity of the financial ecosystem. At the same time, the study highlights the trade-offs between macrofinancial stabilization and long-term credit expansion, underlining the constraints imposed on investment and reconstruction financing. Special attention is given to Ukraine’s ongoing regulatory convergence with the European Union, including the harmonization of payment systems, financial monitoring standards, and sustainable finance regulations. The integration of ESG principles and the expansion of green and social finance instruments are considered essential components of post-war recovery and long-term competitiveness. Based on the synthesis of empirical evidence and policy analysis, the article systematizes strategic directions for strengthening financial ecosystem resilience in conflict-affected economies. Furthermore, it introduces a conceptual framework for a Financial Ecosystem Resilience Index (FERI), which aggregates macrofinancial, institutional, digital, and behavioral dimensions of resilience. Although the index is not empirically estimated in this study, its formalization and quantitative application are proposed as promising avenues for future research. The Ukrainian case provides valuable insights for policymakers and researchers seeking to design resilient financial systems under conditions of prolonged crisis and uncertainty.
Copyright (c) 2025 Юлія СТРІЛЬЧУК, Владислав ЛАВРЕНЮК, Марія САНДУЛ, Олексій ЛИТВИНЕНКО (Автор) https://creativecommons.org/licenses/by/4.0
GLOBAL AND NATIONAL IMPERATIVES FOR THE DEVELOPMENT OF EDUCATIONAL AND PROFESSIONAL POTENTIAL OF INDUSTRY: A COMPARATIVE ANALYSIS
The article addresses the critical issue of transforming the educational and professional potential of industry under the conditions of the global transition to the Industry 5.0 paradigm and the specific challenges of Ukraine's post-war recovery. The study aims to identify key trends and compare adaptation strategies of developed countries with the Ukrainian experience in preserving and developing human capital. The methodological basis of the research includes a comparative analysis of statistical data from Eurostat and the State Statistics Service of Ukraine, as well as a systematic review of structural changes in the labor market. The research reveals a fundamental difference in human capital challenges. It is established that for the EU, the development of industrial potential is an evolutionary process focused on adapting to an aging population and gradual digitalization. In contrast, Ukraine faces an existential crisis characterized by a "double shock": the urgent need for integration into high-tech value chains combined with unprecedented losses of labor resources and educational infrastructure due to the full-scale war. The paper highlights a paradox in the Ukrainian context: despite a significant number of STEM graduates, there is a qualitative gap between theoretical training and the practical needs of the modern high-tech industry, exacerbated by massive external migration of qualified personnel. The author proposes a matrix of professional demand transformation in Ukraine's industrial specialization forecast up to 2030. The study identifies priority "High Demand" zones, which include recovery engineering and construction, military engineering (Defense Tech), and green energy technologies. The findings demonstrate that due to the institutional inertia of the traditional state education system, the corporate sector is becoming the main architect of educational and professional potential. Ukrainian business is actively adopting functions of professional training through the expansion of corporate universities, the implementation of dual education models, and the use of micro-qualifications for rapid re-skilling of veterans and internally displaced persons. The article concludes that the successful restoration of Ukraine's industrial potential requires not extensive growth, but a radical qualitative transformation: full synchronization of the national qualifications framework with EU standards, legalization of micro-credentials, and a shift in focus towards practical application of STEM education to ensure the resilience of the national economy.
Copyright (c) 2025 Олександр МАЛЬЦЕВ (Автор) https://creativecommons.org/licenses/by/4.0
CONCEPTUAL FOUNDATIONS OF SECURITY-ORIENTED ENTERPRISE MANAGEMENT
The article summarizes the conceptual foundations of security-oriented enterprise management. It is established that security-oriented management represents a systemic approach that integrates strategic development priorities with tools for operational risk response. This approach forms the basis for building an effective system for protecting the enterprise’s economic interests by ensuring coherence between current managerial actions and long-term sustainable development goals. Various approaches to defining the essence of the security-oriented enterprise management process have been systematized. The primary objective of security-oriented enterprise management is to ensure resilience, protection, and safety across all dimensions of organizational activity. The object of such a management system is the enterprise’s resilience, understood as a comprehensive characteristic of its ability to maintain integrity, functional efficiency, and dynamic equilibrium under the influence of external and internal destabilizing factors. The effective functioning of a security-oriented management system is based on clearly defined principles that ensure its coherence, adaptability, and effectiveness. Drawing on an in-depth analysis of scientific publications and contemporary approaches to economic security, the key goals of security-oriented management have been identified, forming the conceptual foundation for its practical implementation in business operations. Threat and crisis management constitutes the central element of the security-oriented approach, as it involves a comprehensive analysis of the sources, causes, and characteristics of detected threats, along with the development of strategies for their neutralization. This process encompasses the application of strategic, financial, operational, and risk-management methods, enabling a systematic influence on negative factors and a reduction of their potential impact. Particular attention is devoted to aligning threat-management measures with the enterprise’s long-term development goals. The components of the security-oriented enterprise management process are examined.
objective of security-oriented management
elements of security-oriented management
Copyright (c) 2025 Ірина ЄПІФАНОВА, Євгеній ШЕВЧУК (Автор) https://creativecommons.org/licenses/by/4.0
FEATURES AND PROBLEMS OF DISCOUNTING IN ASSESSING THE EFFICIENCY OF INNOVATIVE PROJECTS
The article provides a comprehensive study of the theoretical and practical aspects of applying the discounting method in assessing the efficiency of innovation projects. The essence of the method, its role in determining the present value of future cash flows, and its place within the system of financial and economic analysis tools are examined. Particular attention is paid to the specific features of using the discounting method in innovation activities, which are characterized by a high level of risk, uncertainty of expected outcomes, and the long duration of the investment cycle. The study addresses the challenges associated with selecting an appropriate discount rate, which is a key factor in accurately evaluating the effectiveness of innovations. It is established that the complexity and ambiguity of determining the discount rate arise from the need to consider macroeconomic conditions, industry-specific risks, cost of capital, inflation expectations, and the inherent characteristics of the innovation process itself. The necessity of improving methodological approaches to discount rate calculation is emphasized, taking into account the peculiarities of the national capital market and the level of development of the innovation environment. The paper identifies and systematizes the key factors influencing the formation of the discount rate and substantiates the relevance of adapting traditional financial models to the conditions of an innovation-driven economy. It is concluded that the effective application of the discounting method enhances the validity of managerial decisions regarding the financing of innovation projects and ensures a balance between expected returns and acceptable levels of risk.
Copyright (c) 2025 Олександр ПИЛИПЯК, Віталій БАКАЙ (Автор) https://creativecommons.org/licenses/by/4.0