Economic Management Tools Research Articles

Modernization of Institutional and Economic Management Tools for Environmental Safety of Enterprises

Modernization of Institutional and Economic Management Tools for Environmental Safety of Enterprises

Research on the Application of Economic Management Tools in Human Resource Management

Research on the Application of Economic Management Tools in Human Resource Management

ДИНАМІЧНА ВЗАЄМОЗАЛЕЖНІСТЬ НА КРИПТОВАЛЮТНИХ ТА ФОНДОВИХ РИНКАХ: МНОЖИННА ВЕЙВЛЕТ-КОРЕЛЯЦІЯ

Modern conditions for the development of international market relations and participation in world globalization processes necessitate strengthening the monetary and credit system, increasing the effectiveness of the use of monetary policy tools to enhance their influence on restructuring and further development of the economy. In the rapid advance of information technologies, new economic management tools, including electronic money, appear every day. The emergence of new types of financial instruments, such as cryptocurrencies, is due to globalization in the financial market. The work aims to identify and model the mutual influence of indicators’ returns, comparing the dynamic characteristics of the cryptocurrency market with some traditional and widely used stock indices, taking into account other factors, for example, the global crisis situation. It was established that three powerful stock indices (S&P 500, Dow Jones, NASDAQ Composite) show a low level of interdependence of volatility evolutions with cryptocurrencies. However, the WLMC construction proved Bitcoin’s dependence on leading stock indices on all scales during 2020– 2021. Also, WLMC’s high performance on the first 100-day period (January–April 2020) and a two-week scale during November 2021 – January 2022 are in the combination of cryptocurrencies with the S&P 500 stock index. The created VAR models demonstrate positive interdependence between Bitcoin and the S&P 500. The study of the ensemble of time series showed that at times of disturbances, resonant phenomena manifest in the behavior of returns of stock indices and cryptocurrencies. The leading role is played by the S&P 500 stock index, while the similar behavior of Bitcoin is manifested indirectly.

BEHAVIORAL MODELS OF DECISION-MAKING BY BUSINESS AND INDUSTRY STAKEHOLDERS

Abstract. The purpose of the study is to substantiate the methodological toolkit for decision-making by business and industry stakeholders, which is based on the development of a dynamic multilateral model of a strategic contract, taking into account the alternatives of agent behavior. In order to achieve the purpose of the study were used following methods: system analysis, logical generalisation, statistical and comparative analysis, principles of contract theory of the firm, the concept of dynamic abilities, methods of the theory of active systems etc. According to findings it is actualized the expediency of the transformational development of transdisciplinarity between behavioral sciences and quantitative methods of management in the context of the development of the contract theory of a firm, namely, regarding the development of a methodological basis for decision-making by business and industry stakeholders. The effectiveness of the use of a dynamic multilateral model of a strategic contract is substantiated, which takes into account the behavioral models of the main stakeholders (investor-owner-employees) based on individual utility functions, which as a result connects three tasks that are consistently solved during each period. For the targeted use of the behavioral effects that arise between the parties to the contract in the process of its implementation, the proposed model of agency relations is based on the relationship between themselves and the overall results of the strategy. It is presented the options for planning the effectiveness of contracts for the interaction of agents based on the use of organizational and economic management tools, which are determined by them independently or under targeted influence in order to create additional behavioral prerequisites. The proposed dynamic multilateral model synthesizes the prerequisites, conditions for the effectiveness of decision-making by business and industry stakeholders in conditions of risk and uncertainty. It allows to consider several behavioral effects that arise between the parties to the contract, based on the individual usefulness of the contribution to the implementation of the business strategy. The practical significance of the obtained results manifests itself in the fact that the use of the developed decision-making models by business and industry stakeholders for the purpose of strategic resource planning based on the optimization of the use of organizational and economic resources will contribute to the concentration on the relevant behavioral aspects of agents and restrictions, taking into account the exchange between the internal and external environments. Keywords: behavioral model, decision-making, agent, stakeholder, strategic planning, contract efficiency, business, industry. JEL Classification A12, C52, D1 Formulas: 31; fig.: 1; tabl.: 0; bibl.: 27.

Ecological and economic management tools in forestry

The importance of this article is related to the development of new policies for the management of the forestry business. The emergence of new business practices requires a revision of existing business management systems or the acquisition of new unique management skills. This article highlights the key ecological and economic management tools in forestry, identified as a result of the study of the works of domestic and foreign authors, as well as the provisions of regulatory legal acts. The developed environmental and financial forestry management tools make it possible to consider both industries and economic entities for the impact on the environment, aimed at the prospects for the creation of a certain entity. Upon completion of this work, important environmental and economic management tools were adopted that will contribute to the formation of a management idea for forestry. When modeling the ecological and economic management of forestry, a rational option for regulating the instruments was chosen, which would bring the system to the desired state. It was concluded that it is necessary to maximize the coefficients regulating the instruments of environmental and economic management of forestry. It is also necessary to improve the environmental audit and insurance, the legislative mechanism, the introduction of trade rights in certain territories.

Introduction of the Sustainable Development Principles in Universities as a Factor of Increasing Ecological and Economic Security

The higher education system makes it possible to accelerate the process of transition of the economy and society to a sustainable direction of its development by forming a new ecological worldview among the younger generation and minimizing future ecological and economic damage to the environment of the region in which the university is located. Nowadays, the pace of the implementation of sustainable development principles in the operational and educational activities of Russian universities remains low, which affects the level of environmental and economic security. The purpose of this study is to identify barriers and prospects for the implementation of sustainable development principles in Russian universities, as a factor of increasing the level of environmental and economic security, using the case of Ural Federal University. The authors analyzed the university's development program, its implemented activities in the field of ecology and sustainable development, its eco-oriented activities, and evaluated the university using the UI Green University Metrics methodology in order to determine its potential position in the green universities ranking. SWOT analysis was carried out to combine the results obtained and to identify the barriers to the implementation of the sustainable development principles and the barriers to increasing the level of environmental and economic security. Promising directions for the development of the university for the coming years were also identified within the framework of the new concept. The main barriers are the lack of an official program of sustainable development of the university, appropriate administrative and economic management tools and targeted state support. In order to stimulate the university's transition to a new concept, the development of a specialized information resource and improvement of the solid municipal waste management system are proposed. A list of economic, organizational and administrative tools for managing sustainable development is also formulated. The implementation of these measures could not only form the foundation for the successful implementation of the sustainable development principles at Ural Federal University but would also increase the university's potential position in the UI Green University Metrics rating and would have a positive impact on the level of environmental and economic security.

Macro-Econometric Model for Medium-Term Socio-Economic Development Planning in Vietnam. Part 1: Structure of the Model

Vietnam builds the market economy from the planned economy, in which development plans, especially the medium-term socio-economic development plans, were determined by the leading economic management tools. Currently, the development plans remain the important tools of economic management. However, the contents and methodologies for development planning have changed considerably. The plans have been built according to the direction of the market and consider macroeconomic forecasts as the most important input for planning. The purpose of this paper is to briefly present the structure of a macro-econometric model for medium-term socio-economic development planning in Vietnam. The model is based on the main ideas of the forecasting procedures and the system of forecast models for strategic planning in the Russian Federation. Furthermore, the model utilizes the experience of macro-econometric models in other countries. This model is based on the approaches of supply and demand, and is organized into blocks that have a close relationship to combine forecasts from the built model and using judgmental methods in a favourable way. The model can fully forecast the needs of socio-economic development planning. It is also used to build forecast scenarios and to assess the impact of shocks and economic policies.

Modelling of innovative development of companies

The authors investigated the problems of innovative development of Russian enterprises. To solve these problems, the conceptual model of innovative development of the enterprise, based on an innovative system of vertical and horizontal interaction of market participants. Particular attention is paid to the characteristics of innovative development tools whose effectiveness can be evaluated on the impact on the innovative activity of the enterprise, and, consequently, its innovative development. Among the innovative development tools identified: human capital development tools and corporate growth management tools, organizational and economic management tools, management tools of scientific and technical potential of the enterprise.

Instruments of administrative concessions of water use rights in Spain

ABSTRACT Most of the Spanish territory is marked by Mediterranean climatic characteristics, in which rain irregularity and droughts present continuous challenges to water resource managers. Since the end of the 19th century, the country has adopted a management logic based on flow regularization from dam construction and basin water transfers. However, from the Water Framework Directive adopted in 2000, European Union member states are forced to undertake more environmentally oriented management processes, with a focus on improving the ecological status of water bodies. In this sense, economic management tools have been highlighted in the national strategies for compliance with the Water Framework Directive requirements. One of those instruments is the public water use rights permit. This paper aims to present the Spanish panorama of this instrument and contribute to those interested in water management. The work shows that there are several challenges and problems faced by the Spanish management apparatus, particularly regarding continuity of private management of groundwater and insufficient knowledge of numerous wells and volumes of water used. For various reasons, the concessions system faces criticism as to defending the interests of traditional economic sectors.

РАЗРАБОТКА КОНЦЕПЦИИ УПРАВЛЕНИЯ БИЗНЕС-ПРОЦЕССАМИ НА ОСНОВЕ ПРИНЦИПОВ СИНЕРГЕТИКИ

The importance of research aimed at developing the management concept of business-processes on the basis of the principles of synergy from the scientific-theoretical point of view is caused by the absence of design ways in modern methodology, reengineering and automation of business-processes allowing to con-sider the economic entity as a dissipative structure.
 From the scientific and practical point of view the urgency of research is caused by necessity of commer-cial and non-commercial organizations forthe system of tested techniques and information management systems of business processes of socio-economic systems in the context of task support formed by the automated system to the person and also tasks like "person-person".
 The author has developed the management con-cept of business-processes on the basis of self-organization principles, defined the economic man-agement tools reflecting elements of synergy: attractor, fluctuation, fractal, bifurcation point.
 The common notation system of a broadened management concept of business-processes is devel-oped, and also the psycho-economic simulation model of labor productivity dependence on the level of emo-tional state is developed that will allow to increase effi-ciency of strategic and operational planning, and to develop high-quality information services by IT spe-cialists.

Priority areas difinition for improvement of defferentied electricity tariffs

The paper deals with solving the urgent problem of leveling the daily electric load curves of power systems. Daily load curves of power systems in Ukraine and Jordan were analyzed. It was shown that uneven consumer demand for electric power is equally characteristic of power systems in both countries, and the least expensive and most feasible solution to this problem is involving electricity consumers in leveling the power system load curves. The influence of major consumer groups on the configuration of the power system daily load curves was analyzed. It was proved that the main reason for the uneven power system load is uneven demand for power of such consumer group as the population. Electricity tariffs in Ukraine and Jordan as one of the most effective tools of economic management of consumer demand for electric power were considered, the results of long-term use of time-differentiated tariffs in Ukraine were examined. It was shown that differentiated electricity tariffs in both countries need urgent improvement and further development. Priority areas for improvement and further development of time-differentiated electricity tariffs in Ukraine and Jordan were defined. The research results and findings will contribute to the development and gradual implementation of targeted, balanced management strategy of consumer demand for electric power.

Policy Framework and Management of Sustainable Macroeconomic Stability in Nigeria: Processes, Challenges and Prospects

This paper examined the policy framework for macroeconomic stability in Nigeria from 1979 to date, observing the coordination of monetary and fiscal policies in Nigeria by looking at the purpose of the broad macroeconomic objectives as well as the key tools of economic management. The paper discusses, among others, the review of major policy framework in Nigeria; issues and performance of the monetary and fiscal policies framework; and the challenges of the monetary and fiscal policies management in Nigeria. The paper concludes that due process and discipline should be honestly restored in governance to avoid unnecessary policy failure while the fight against corruption should be intensified through speedy prosecution of cases in courts to assist in sending the right signals to corrupt government officials.