Difficult Economic Conditions Research Articles

The article is devoted to a critically important aspect of the development of complex offshore fields in the Northern Caspian Sea – optimization of the design of bottom-end systems for the effective application of enhanced oil recovery methods (ERM). In conditions of expensive and technically complex offshore drilling, regulatory pressure and the need for import substitution, competent design of bottom-up schemes is becoming a key factor in the economic viability of projects, including in the Northern Caspian Sea. The lower completion system is not just a stage of construction, but an element that determines the controllability of the inflow, minimizing complications (flooding, gas occurrence, etc.) and the success of the applied MUN throughout the life cycle of the well. A practical methodology based on the use of the NETool software package, developed for numerical modeling and optimization of bottom-up circuits, is presented. The complex allows you to integrate geological and field data, simulate in detail the multiphase inflow of fluids, taking into account inflow control devices (ICD), and predict productivity. Special attention is paid to the number of filters in the bottom completion schemes of wells drilled at the Nekom reservoir, and the simulation results, which showed that in these geological conditions, the number of filters does not significantly affect the flow rate in the short term. The importance of long-term operational and economic factors, such as the risk of clogging with an insufficient number of filters or high corrosion activity with a large number of filters, was noted. The unresolved issue of the optimal number of filters and the need for further research, including tests under different conditions, is emphasized. The influence of flow control devices on these factors is separately noted, even if they are omitted in the calculations. The proposed methodology using NETool is a valuable tool for increasing technological efficiency, reducing costs and ensuring the sustainability of development in difficult economic conditions.

Background Understanding how entrepreneurship centres in developing economies shape students’ entrepreneurial capabilities, especially under difficult economic conditions, remains a key concern in higher education research. This study examines the role of entrepreneurship centres in Nigerian universities in fostering innovative business idea generation among undergraduates. Guided by Ecological Systems Theory, entrepreneurship centres are viewed as part of students’ immediate (microsystem) environment, while broader economic challenges such as inflation, insecurity, power instability, and high interest rates form the exosystem context. Methods A cross-sectional design was adopted, with data collected from 269 final-year students across selected Nigerian universities using a structured questionnaire. Partial Least Squares Structural Equation Modelling (PLS-SEM) was applied to assess both direct effects and the moderating influence of economic conditions. Results The results show that active engagement with entrepreneurship centres significantly boosts students’ ability to generate innovative business ideas. However, adverse economic conditions not only influence idea generation on their own but also weaken the positive impact of entreprenuership centre engagement. The model demonstrated moderate explanatory power (R2 = 0.416) and strong predictive relevance (Q2 = 0.466), supported by robust reliability and validity metrics. Conclusions This study highlights the need for universities and policymakers to build more resilient entrepreneurship support systems capable of nurturing innovation despite economic headwinds. The findings point to the value of sustained investment in entrepreneurship centres and call for broader research across different contexts to enhance generalisability.

This article purpose is to determine the role of Professor M. M. Bokarius in the development of forensic science and criminalistics in Ukraine, as well as to popularize forensic knowledge and possibilities of their practical application. For achieving this goal, methods of cognition and formal logic, historical and biographical methods, method of comparative research, as well as comparative-legal, historical-comparative, system-structural, system-functional methods were used. During the study, we used an interdisciplinary approach. The role of Professor M. M. Bokarius in formation of medical forensic science, forensic medical research and forensic expert activity in Ukraine in the 20th century was determined. His medical, pedagogical, scientific and expert activity during the 1920s-1960s was analyzed. Attention is drawn to his performance of forensic medical activities in difficult political and economic conditions, in particular during the Holodomor in Ukraine in 1932-1933, World War II, and mass famine of 1946-1947. Teaching activities of M. M. Bokarius for law students (forensic medicine, crime investigation techniques (criminalistics), and other related disciplines) are considered. He was an organizer of the educational process and the head of higher educational institutions and forensic institutions (he held the positions of head of the department, vice-rector for academic work, and director of an expert institution). The professor’s scientific legacy is considered; his main works are analyzed; The subject of scientific research is systematized (forensic and forensic methods: forensic traumatology and thanatology, cadaver phenomena and the statute of limitations of death, corpse examination at the crime scene, mechanical asphyxiation, traces of firearms and gunshot wounds, material evidence). The role of M. M. Bokarius in application of forensic methods for the investigation of crimes, the establishment of the forensic direction in forensic medicine and the formation of medical forensics is argued. The peculiarities of emergence and existence in our time of the Bokarius Scientific and Pedagogical Forensic School are substantiated.

The definition of a state is a territory with a sovereign government, governed by law, and having a permanent population. Every resident living within a state is obligated to obey the laws established in that state. This is especially true in Indonesia as a state based on the rule of law, as asserted in the 1945 Constitution (UUD 1945) Article 1 paragraph (3): “The State of Indonesia is a state based on law.” However, even though Indonesia is a state of law, in reality, law enforcement in the country remains very weak. This is exacerbated by numerous public perceptions and negative assumptions resulting from failed legal implementation, such as the widespread belief that “the law is sharp downward but blunt upward.” In society and state life, the law should be the commander in every aspect of life, aiming to create justice, maintain order, and protect individual rights. But what does justice truly mean in Indonesia? Is justice as simple as 1+1 = 2 or 2+2 = 4? If justice is defined that way, then the lower class should feel the same fairness as the upper class, particularly when it comes to legal matters. The term “lower class” here refers to marginalized groups who face various forms of injustice, including limited access to the judiciary, poverty, legal illiteracy, and many others. In light of this, this paper will discuss the problems and the concept of legal aid as a right and obligation that must be guaranteed for the poor. The fact remains that currently, poor communities still struggle to access legal aid due to their difficult economic conditions, which often remain unaccommodated.

The paper analyses the socio-economic development of the Komi Republic and Russia as a whole for the period of 2014–2024 in the context of external pressure of sanctions. Three crisis waves have been identified: 2014–2019 – the beginning of sanctions related to the territorial transformation in Ukraine; 2020–2021 – economic complications caused by the SARS-CoV-2 coronavirus pandemic; 2022–2024 – the beginning of a special military operation. The paper illustrates the general dynamics of economic development for the entire period under study. The results of the socio-economic development of the Komi Republic in 2024, in comparison with all-Russian indicators, are highlighted in more detail. The data on industry, agriculture, retail trade, construction, and investments in fixed assets are presented in short. The article describes the situation on the labor market, in the field of pricing and budget execution. In spite of the strong pressure of sanctions and difficult financial and economic conditions, the Russian economy is able to cope with external challenges and, in the future, enter the trajectory of sustainable development.

Milk and dairy products are traditional components of Russian diet. In difficult economic conditions, dairy import tends to decrease, and the national dairy industry tries to compensate for it. Today, the cheese consumption in Russia is below the rational standard, which makes it necessary to boost the domestic cheese production. The authors studied the cheese segment of the domestic dairy industry to analyze the possibilities of increasing cheese production. The research relied on the leadership criteria and the main industrial indicators in the regions, e.g., raw materials and production infrastructure, which were subjected to statistical and mathematical processing. The data were systematized by a set of indicators with precalculated statistical characteristics, which made it possible to rank the national cheese leaders. The organic index of cheese products was measured based on the protocol proposed by the authors. The correlation analysis revealed the links between the gross cheese production in the regions and their raw material supply. The Russian Federation produces more than 900,000 tons of cheese and cheese products and imports 300,000 tons. The current per capita consumption of cheese is 6.5 kg per year, but domestic companies provide only 4.2 kg, i.e., 60% of the rational consumption rate. The list of the cheese leaders includes 38 regions, 20 of which provide more than 78% of the total national production, with the Altai Region leading the way. However, some of these cheese-making regions are currently experiencing an acute shortage of dairy raw materials, while some milk-producing regions have a poor processing infrastructure that cannot support cheese production. The national dairy industry has not enough raw materials as a result of a long-term dairy cattle decrease over the past two decades. A sustainable raw material base for cheese making needs 1.2 million more cows to increase the gross milk production by 9.8 million tons (29.6% of the data for 2022). “The cheese issue” can be resolved by increasing the population of pedigree dairy cattle and encouraging farmers to start cheese dairy businesses. Both measures require strong federal and regional support.

The main purpose of this research is to analyze the Impact of Private Investments in the Circular Economy on EU GDP for the period 2010-2020. This research has a sample of 28 EU Member States and analyzes a 10-year period. The scientific methodology applied in this study is the quantitative method. The data used in this research are secondary and are generated from official data published by Eurostat and the World Bank. Based on the results of this research, we may conclude that there is a negative relationship between private investments in the Circular Economy and the GDP of the European Union countries for the period 2010-2020. During the period 2010-2020, some EU countries experienced problems in attracting private investments due to difficult economic and political conditions, they had influenced private investments to have a negative effect on GDP.

In the current difficult economic conditions, methodological foundations for assessing the balance of sustainable development of regional economies, together with the introduction and application of innovative activity and innovative technologies, are of the purpose of the work for the development of the regional economy. When assessing the balance of the sustainable development of the regional economies in the context of the innovation activity, the directions for the application of various methodological techniques are identified, which are based on the analysis of ratings of complex indicators and assessment of the level of their implementation. This process is unambiguous. The conducted research is aimed at developing various methodological techniques for assessing the balance of the sustainable development of the regional economies in the context of the innovation activity. The leading approach (or method) to the study of this problem is the assessment of the sustainability rating of regional economic systems. The calculation is based on the complex indicators, the impact of which contributes to an increase in the rating of regions with an indispensable balanced functioning. The conclusion of the study is formulated on the materials of scientists who have studied and are studying the problem under consideration: the process of an effective approach to the balanced development of the regional economic systems is based on integrity, divided into its structural elements.

Stunting prevention is one of the important strategic efforts in improving the quality of public health, especially in children under five years old. This study aims to evaluate the implementation of stunting prevention policies in Galang District, Deli Serdang Regency, as well as identify factors that hinder the effectiveness of the program. The method used is qualitative research with a case study approach, involving in-depth interviews with local governments, health workers, and local communities. The results of the study show that the stunting prevention programs implemented, such as supplementary feeding (PMT), child growth monitoring, and nutrition education, have had a positive impact on increasing public awareness of the importance of child nutrition. However, there are still obstacles in the implementation of this program, including low community participation, limited health workers, and inadequate socio-economic and sanitation problems. The main inhibiting factors include low public awareness, limited health facilities, and difficult economic conditions, which limit access to nutritious food and health services. Therefore, it is recommended to strengthen public education, improve training for health workers, and improve sanitation infrastructure and access to clean water to support the success of stunting prevention policies more effectively.

Industrial enterprises operate in difficult economic conditions, determined by various economic impacts and external factors, among which the greatest influence is exerted by geopolitical factors caused by uncertainty in commodity markets and processes in mutual settlements. In crisis conditions, more and more representatives of the management pay attention to the application of optimal approaches in the activities of enterprises aimed at increasing the level of innovative development. An important role in determining the ways to find the possibility of producing innovative products is given to the analysis and modeling of economic and production indicators selected on the basis of detailed forecasting. The article presents the results of applying multisigmoid modeling optimized for the specifics of the activities of forest industry enterprises. The data used were indicators of the release of innovative products in the total volume of forest industry production, costs of reforestation, prevention and extinguishing of forest fires. The results of the study are graphically reflected in the analysis of time dependencies by means of a combination of sigmoid functions and the constructed algorithm for implementing the multisigmoid model of innovative development of forest industry enterprises. The necessary indicators were analyzed up to and including 2023, on the basis of which forecasting was carried out for 5 years up to 2028 and the obtained data were analyzed.

Due to economic sanctions imposed by unfriendly states, which seriously affect the financial market as a whole, the lending sector has been under a particular «strike». The purpose of this paper is to analyse the results of the impact of the economic sanctions imposed by unfriendly states that have a significant impact on this segment of the domestic financial market; study stabilisation measures and growth opportunities for this sector of lending in modern conditions; systematise the scientific views of scientists on the subject of improving the mechanism of interaction between the state, banks and other subjects of the financial market in difficult economic conditions; formulate proposals aimed at improving the effectiveness of rights. Conclusions. As a result of the scientific and applied research, the proposals aimed at reducing budget expenditures aimed at supporting preferential lending to business through a clear classification and regulation of the legal status of persons providing support in the development and implementation of business projects, establishment of the legal regime of their activities, development of a partnership financing institute were formulated. In the event of an increase in the number of entities involved in the financial support of business projects, the role of the state, in the end, should be reduced to informing, advising, creating favourable conditions for the establishment and development of the most important types of entrepreneurial activity for society, and state financial control.

The purpose of this study is to systematically analyse the functioning of the state budget of Ukraine in the context of the war economy and identify the key triggers of its post-war recovery. The article discusses the current challenges associated with the transformation of the structure of budget expenditures, a significant budget deficit, rising public debt and the need to attract international financial assistance. The wartime period for public finances is characterised by a significant shift in priorities, with the focus on security and defence forces, social support and the restoration of critical infrastructure. This reallocation of resources is a response to the unprecedented challenges faced by the state, but it creates additional risks to financial sustainability in the medium and long term, creating uncertainty about the triggers for post-war economic recovery from the consequences of the Russian-Ukrainian war. The main methods of the study are: quantitative analysis of economic and financial indicators of Ukraine and comparative analysis with other countries that have faced military conflicts. It is determined that the key barriers are the lack of domestic financial resources, high level of external debt and significant debt service costs. The impact of international financial assistance on ensuring macroeconomic stability and prospects for improving the efficiency of its use for resource support for economic recovery are also investigated. The qualitative analysis identified the main social and economic factors that influence the structure of the State Budget in the context of the Russian-Ukrainian war, including demographic changes, internal displacement of the population, the need to support veterans, and other previously unknown or insignificant factors that were inert in the pre-war period. Based on the results of the study, the author proposes a strategic context of triggers for the modernisation of public finances, including: further optimisation of the expenditure structure, improvement of the efficiency of budgetary resources management, introduction of innovative approaches to tax policy, and ensuring transparency in the use of international financial assistance. Particular attention is paid to the adaptation of international experience to Ukrainian realities, including the introduction of mechanisms for monitoring and evaluating the effectiveness of public spending. The practical significance of the study lies in the development of recommendations for improving the efficiency of public budget management in difficult economic conditions. It is determined that post-war reconstruction requires not only financial resources, but also the consolidation of efforts of the government, international partners and civil society. The main challenge is to strike a balance between the short-term needs to finance the security and defence forces and social protection and the long-term goals of sustainable development, which is becoming more inclusive. The authors propose an approach that combines rapid response to wartime challenges with laying the foundations for inclusive economic growth in the future. It is concluded that public finances are a key instrument for economic resilience during war and the basis for its post-war recovery. In particular, strategic management of budgetary resources will minimise the impact of external shocks, promote the development of domestic markets and ensure social stability. Further research in this area will contribute to the development of effective financial planning mechanisms adapted to Ukraine's current challenges and needs. It was also found that the war economy has significantly transformed the structure of Ukraine's state budget, directing major resources to defence and social support, which has led to unprecedented spending growth and budget deficits. At the same time, a sharp increase in public debt, including external debt, has highlighted the country's dependence on international assistance. In the post-war period, economic recovery will largely depend on investments in infrastructure reconstruction, which can become a driver of economic growth and job creation. Achieving financial sustainability requires comprehensive reforms of public financial management, effective use of international support, and stimulation of long-term economic development. In addition, the article emphasises the importance of promoting the use of the frozen assets of the aggressor country, which can become a source of financing for the restoration of Ukraine's infrastructure, helping to reduce the debt burden. The authors highlight the need for further research and integration of international experience in the field of financial stabilisation and development of an inclusive economy, which will help Ukraine to cope with the challenges of post-war recovery.

Сельское хозяйство относится к одной из самых динамично развивающихся отраслей в России. Рост агропромышленного комплекса оказывает большое влияние и на эволюцию многих других отраслей. Сохранить лидирующие позиции на рынке в непростых экономических условиях этого года, а также увеличить рентабельность предприятия позволяет модернизация производства. Однако не все компании могут позволить обновить свои мощности за счет собственных средств. Лизинг сельхозтехники является одним из важнейших механизмов технического перевооружения, внедрения новой техники и технологий, повышения инновационного уровня и экономических результатов производства. Практика показывает, что компаниям не обязательно владеть дорогостоящей техникой, чтобы эффективно вести свою деятельность. Agriculture is one of the most dynamically developing industries in Russia. The growth of the agroindustrial complex has a great impact on the evolution of many other industries. Modernization of production allows us to maintain our leading position in the market in difficult economic conditions this year, as well as increase the profitability of the enterprise. However, not all companies can afford to upgrade their facilities at their own expense. Leasing of agricultural machinery is one of the most important mechanisms for technical re-equipment, the introduction of new equipment and technologies, increasing the innovative level and economic results of production. Practice shows that companies do not have to own expensive equipment in order to operate effectively.

In terms of theory and practice, microfinance activities have affirmed their role in promoting job creation and increasing income for the poor. This study focuses on analyzing the impact of microfinance on the employment and income of the poor in Vietnam through financial intermediary services and social intermediary services. Based on the theoretical framework, the author conducted a direct survey of 300 poor people who received loans for production and business in the past 5 years. The survey area was identified as three provinces in the mountainous region of the Northwest - the area with the most difficult economic conditions in Vietnam; the provinces include Lai Chau, Dien Bien, and Son La. The results of the research and survey show that the poor are more interested in receiving direct loans (through financial intermediary services) to invest in production and business with the hope of escaping poverty and developing. Borrowing capital through savings groups and lending groups (through social intermediary services) is bound by many procedures and processes related to local organizations and groups, so many poor people have limited access; they rate it lower in terms of convenience and efficiency compared to borrowing capital directly from microfinance organizations. From the results of this study, the author discusses some contents aimed at removing difficulties to continue promoting microfinance development to create jobs and income for the poor in Vietnam.

Сельское хозяйство относится к одной из самых динамично развивающихся отраслей в России. Рост агропромышленного комплекса оказывает большое влияние и на эволюцию многих других отраслей. Сохранить лидирующие позиции на рынке в непростых экономических условиях этого года, а также увеличить рентабельность предприятия позволяет модернизация производства. Однако не все компании могут позволить обновить свои мощности за счет собственных средств. Лизинг сельхозтехники является одним из важнейших механизмов технического перевооружения, внедрения новой техники и технологий, повышения инновационного уровня и экономических результатов производства. Практика показывает, что компаниям не обязательно владеть дорогостоящей техникой, чтобы эффективно вести свою деятельность. Agriculture is one of the most dynamically developing industries in Russia. The growth of the agroindustrial complex has a great impact on the evolution of many other industries. Modernization of production allows us to maintain our leading position in the market in difficult economic conditions this year, as well as increase the profitability of the enterprise. However, not all companies can afford to upgrade their facilities at their own expense. Leasing of agricultural machinery is one of the most important mechanisms for technical re-equipment, the introduction of new equipment and technologies, increasing the innovative level and economic results of production. Practice shows that companies do not have to own expensive equipment in order to operate effectively.

The article examines the features of the formation of communication channels of relocated enterprises. The importance of supporting business relocation to more peaceful regions of the state is substantiated, for stabilizing the socio-economic situation of communities and security. The main communication channels used by enterprises to expand marketing activities and attract customers were formed. Based on the identification of the types of communication channels, the advantages and disadvantages of each of them were determined. The main areas of business from which enterprises are relocated most often in an unfavorable security situation were studied. In difficult socio-economic conditions, it is appropriate to consider relocation as a tool for forming new communication channels. Since changing the location of production facilities to more favorable business conditions allows enterprises to reach a new level of their development, attract new customers, develop new market segments, and expand their customer base. The cities to which businesses are most frequently relocated are analyzed in the regional distribution. The need to attract state support and grant programs for business development is substantiated. The impact of the relocation of enterprises to certain regions on the budget distribution is studied, which made it possible to determine the advantages of business development in communities, due to which tax deductions to regional budgets increased, thereby increasing the economic potential of the territory. Aspects that enterprises need to consider before choosing a region for the relocation of their business are highlighted. Based on the accumulation of certain business structures in territories that are remote from the zone of active hostilities, industrial parks were formed that contribute to the unification and support of enterprises in difficult economic conditions.

The responsibility of fathers for child maintenance in divorce is a crucial issue in family law in Indonesia, regulated by the Civil Code (KUHPerdata) and Law Number 1 of 1974 concerning Marriage. This journal aims to analyze the legal obligation of fathers in providing maintenance to children after divorce, as well as factors that affect their fulfillment. This study uses a normative juridical method with an analytical approach to relevant legal provisions and case studies from court decisions. The results of the study show that fathers have the responsibility to meet the basic needs of children, including food, clothing, shelter, and education, until the child reaches adulthood or can be independent. Despite clear legal provisions, in practice, many fathers do not fulfill their obligations for various reasons, such as difficult economic conditions and a lack of understanding of legal responsibility. The court has an important role in enforcing this maintenance obligation through a fair judgment and in accordance with the father's ability. The study also found that communication between ex-spouses and support from legal institutions is essential to ensure that children's rights are met. It is hoped that the results of this study can be a reference for policymakers and legal practitioners in an effort to improve the protection of children's rights after divorce.

The city of Tanjungpinang has successfully reduced the prevalence of stunting consistently from 2021 to 2023, from 18,8% in 2021 to 15,7% in 2022, and to 15,2% in 2023 compared to six other regencies/cities in the Riau Islands Province. This research aims to identify the strategies used by the DKP2KB of Tanjungpinang City in efforts to reduce the prevalence of stunting from 2021 to 2023. Using a qualitative research method with a case study approach, there were nineteen informants, and data collection techniques included interviews and documentation. This research uses the strategy theory from Geoff Max Mulgan, which includes purposes, environments, directions, actions, and learning. The findings obtained are, (1) Purposes: in terms of output to achieve the national target of 14% with a performance target of 3.48% from 2021-2023 and outcomes in the form of improving the quality of human resources and the quality of life of the community. (2) Environments: still facing pollution constraints, suboptimal parenting patterns, and difficult economic conditions for the community. (3) Directions: includes commands in regulations, coordination through forums, building motivation, and effective communication. (4) Actions: activities carried out, namely sensitive interventions involving cross-sector, cross-program, and private sectors to facilitate assistance and innovation, while specific interventions involve intervening in public health. (5) Learning: all activities have been carried out well, as evidenced by the national survey results showing a decrease in stunting prevalence, although the target of 14% has not yet been reached, and the stunting program performance targets have been successfully achieved. However, the overall effectiveness of the program heavily depends on active community participation. Therefore, to address this, the researchers suggest that the government encourage knowledge, awareness, and participation from the community.

Military operations in Ukraine are a significant obstacle to the growth of investment rates and income from investment. According to the results of statistical analysis, most scientists conclude that there is a certain dependence on the trends of the volumes of these indicators. However, there is an objective need to prove the interdependence of these processes using economic and mathematical models. Therefore, the purpose of the article is to determine the relationship between investment volumes and income from them in Ukraine from both a phenomenon and a process perspective during the period of military operations and to identify the main areas for improving the investment climate of the Ukrainian economy. The object of the study is the processes of investment and income from investments. The subject of the study is to generalize the theoretical support and practical recommendations on the issue of interdependence of investment processes and the formation of income from them in the difficult economic conditions of military operations in Ukraine. The main research methods used are theoretical generalization, system analysis, analysis, synthesis – to substantiate the object, subject, factors that hinder investment, and to form directions for improving the investment climate in Ukraine, generating conclusions and directions for further research; statistical analysis of initial data, graphical method – to visualize the results of investment processes and obtaining income from them; regression analysis, forecasting method by growth curves, canonical analysis – to prove the existence of a close relationship and the presence of interdependence of investment processes and processes of obtaining investment income. The article presents the following main results. The prevailing opinions of scientists on the main trends in changes in investment volumes and income from their investment in wartime are summarized. Using statistical data, graphs of investment volumes and income were constructed quarterly for the period of military operations in Ukraine from 2022 to 2024, and pairwise regression models of the dependence of these variables were constructed, which proved the presence of a dependence between them in the period under study. Using growth curves, the relationship between investment volumes and income for the fourth quarter of 2024 and the first and second quarters of 2025 was predicted, and a system of equations between them was constructed using canonical analysis, which proved the existence of a significant interdependence between investment volumes and income from their investment from the standpoint of a process approach. The constructed economic and mathematical models proved the existence of a significant interdependence between investment volumes and income received from these processes for Ukraine during the war period. On this basis, factors inhibiting investment processes were identified, and directions for improving the investment climate in Ukraine were proposed. Keywords: wartime, investments, income, regression analysis, forecasting, growth curves, canonical analysis, factors inhibiting investment processes, directions for improving the investment climate.

Amid tight competition and difficult economic conditions during the pandemic, making decisions about capital structure is important to sustain the business and avoid bankruptcy. Good Corporate Governance (GCG) is also considered an important component in the business decision-making process. As such, this study aims to examine the effect of capital structure on the financial performance of information technology companies listed on the Indonesia Stock Exchange (IDX) between 2018 and 2022, considering GCG as a moderating variable and comparing the effect before and after the COVID-19 pandemic. The research method is qualitative-correlational, and a purposive sampling technique is used to achieve the research aim. The results of the quantitative descriptive analysis exhibit that capital structure affects financial performance in the overall period and the period after the Covid-19 pandemic, but has no effect in the period before the Covid-19 pandemic. GCG moderation results show that GCG does not strengthen the effect of capital structure in the overall period and the period before the Covid-19 pandemic, but enhances the effect of capital structure on financial performance in the period before the Covid-19 pandemic.