Financial Components Research Articles

НАПРЯМКИ ЗАБЕЗПЕЧЕННЯ ЕКОЛОГІЧНОЇ СКЛАДОВОЇ ЕКОНОМІЧНОЇ БЕЗПЕКИ ПІДПРИЄМСТВА В УМОВАХ ІННОВАЦІЙНОГО РОЗВИТКУ НАЦІОНАЛЬНОЇ ЕКОНОМІКИ

The article analyzes the views of scientists on the interpretation of the concept of economic security of the enterprise. It is determined that in most studies the economic security of the enterprise is considered as a state of protection from the negative effects of internal and external factors, as a state of efficient use of enterprise resources, competitive advantages or as the ability to realize its economic interests. The functional components of the economic security of the enterprise are investigated and the ways of ensuring the economic security of the enterprise for each component are determined. It was found that scientists today identify seven main functional components, namely: technical and technological, information, financial, legal, environmental, personnel and force components. In this work the research of an ecological component of economic security of the enterprise is carried out, its essence is opened and the vision of the basic directions of its maintenance is given. It is determined that there are two areas of its provision - the safety of the enterprise and the safety of society from the negative impact of the results of the enterprise. Measures have been formulated at the enterprise and state level that need to be implemented to ensure the environmental component of economic security in terms of innovative development of the national economy. It was found out that it is necessary to observe the current ecological norms by economic entities, to introduce innovative production technologies, to form ecological culture, at the state level - to provide support and stimulation of enterprises to introduce innovations. It is determined that the implementation of directions to ensure the environmental component of economic security of the enterprise will have a positive effect. Namely, reducing the company's costs through the use of energy and resource-saving technologies, increasing competitiveness and entering the new international markets through the production of high quality and environmentally friendly products, as well as reproducing the country's resource potential and reducing environmental impact. Keywords: economic security, ecological component, innovative development, enterprise activity, national economy.

ВИКОРИСТАННЯ ІНСТРУМЕНТАРІЮ УПРАВЛІНСЬКОЇ ДІАГНОСТИКИ ДЛЯ ПРИЙНЯТТЯ ЕФЕКТИВНИХ УПРАВЛІНСЬКИХ РІШЕНЬ

In order to make economically justified management decisions, a comprehensive study of operating, investment and financial activities of enterprises is becoming more and more popular every year. Diagnosis of the state of management is an analytical procedure aimed at identifying the “weaknesses” of the management mechanism of the enterprise. There are several methodological approaches to diagnosing the activities of the enterprise, which differ in tools and are based on structuring, identifying the main link, establishing causal relationships and interdependencies, generalization (synthesis) of the results. In practice, not one, but a set of methods of analysis is usually used. The efficiency of each enterprise depends primarily on whether or not management decisions correspond to the real state of the market environment. The basis for substantiation and adoption of optimal management decisions should be the diagnosis of the effectiveness of the enterprise. The main purpose of management diagnostics is to diagnose the object under study and identify changes in its condition in order to form future prospects for development. With the help of diagnostic procedures, it is possible to comprehensively analyze the economic activity of enterprises, as well as to identify prospects for its development. At the same time, diagnostics must be constantly evolving, so it is advisable to take measures at the enterprise that will be aimed at its improvement. Based on the results of diagnostics, a systematic vision is formed by the company’s management of problem areas, which allows to assess the current state and trends of commercial, production, financial components of the enterprise, identify weaknesses in management, place “problems” problems, find out the causes and sources, to establish priorities in work with problems of the enterprise, to estimate possible variants of the decision of these problems with the forecast of possible results, to develop preliminary recommendations on working of development strategy of the enterprise for medium or long-term prospect. In addition, management makes justified management decisions to improve the efficiency of the enterprise through the use of identified reserves with the projected economic effect. Keywords: tools, managerial diagnostics, diagnostic methods, efficiency of decisions.

Фінансова безпека підприємства як антикризовий метод управління

Abstract. Introduction. Enterprise financial security is one of the measures to ensure and support financial stability. It is able to act as one of the main anti-crisis management methods and is extremely relevant in the uncertainty of the activities implementation. Management and staff must comply with a number of requirements for ensuring and maintaining their own level of financial capacity for effective enterprise functioning. After all, this factor will promote both its general adaptation, and will allow to carry out own activity now. It will also contribute to the plan formation to ensure the enterprise activities for the future, taking into account the necessary changes based on determining their impact on the development of further events in the business world. Purpose. His article has been described the essence and features of the «Financial security of the enterprise» concept. The necessity of its application in modern conditions of enterprise activity as one of the most important anti-crisis management methods in conditions of uncertainty has been described. Results. The financial security of the enterprise is the basis of effective activity of any enterprise in modern business conditions, taking into account the influence of both internal and external factors that take place in the business world as a whole has been determined. It is researched that financial security needs constant updating and improvement. So, it must meet modern requirements for ensuring the stability of the enterprise as an important anti-crisis managing its activities method. The main components of financial security of the enterprise are offered and described, namely: organizational, managerial, and financial-economic. Conclusions. As a result or consequence of this, the formation, support, and development of the country’s enterprises’ financial security are influenced by many different, both interdependent and independent, internal and external factors. In addition, financial security needs constant provision to achieve a high level of support for the stable and uninterrupted operation of the enterprise under any conditions of its operation. Keywords: financial security; anti-crisis method; crisis phenomenon; organizational component; management component; financial and economic component; soft skills.

THE FINANCIAL COMPONENT OF THE COMMUNICATION MANAGEMENT STRATEGY IN HIGHER EDUCATION INSTITUTIONS

Abstract. The article defines the role of the financial component of the communication management strategy in HEIs based on the construction of the algorithm for optimizing the distribution of costs for communication processes and the construction of the financial mechanism of communication management. Communication processes in HEIs have a number of specific features due to the fact that a large number of people and groups of people with different levels of education, level of intelligence, age, upbringing and interests take part in the communication process. That is, effective communication management of HEIs requires from the management of institutions to develop a management strategy that would satisfy the interests of all groups of communication process participants. It has been emphasized that the communication management strategy in HEIs should be developed for the long term taking into account the conditions of the changing external environment, and have the goal to continuously transmit information to employers, applicants, their parents, and the whole society in order to make the services of institutions attractive to the target audience and have feedback which would allow monitoring the quality of communication processes and have an economic effect from their implementation. It has been noted that one of the main components of the communication management strategy in HEIs is finance. An algorithm has been built to optimize the costs of managing communication in HEIs based on the use of the classical method of mathematical nonlinear programming problems optimization. A financial mechanism for managing communication in HEIs has been built, which is a system of measures aimed at achieving a certain level of communication processes management while maintaining a certain level of financial stability and independence. It has been concluded that the financial component of the communication management strategy in HEIs is one of its main elements, which allows constant increasing the level of institutions competitiveness and the quality of education as well as scientific and technical potential. Keywords: financial component, communication, management strategy, costs, algorithm, mechanism, higher education institutions. Formulas: 11; fig.: 2; tabl.:1; bibl.: 15.

Network-centric Indicators for Fragility in Global Financial Indices

Over the last 2 decades, financial systems have been studied and analyzed from the perspective of complex networks, where the nodes and edges in the network represent the various financial components and the strengths of correlations between them. Here, we adopt a similar network-based approach to analyze the daily closing prices of 69 global financial market indices across 65 countries over a period of 2000–2014. We study the correlations among the indices by constructing threshold networks superimposed over minimum spanning trees at different time frames. We investigate the effect of critical events in financial markets (crashes and bubbles) on the interactions among the indices by performing both static and dynamic analyses of the correlations. We compare and contrast the structures of these networks during periods of crashes and bubbles, with respect to the normal periods in the market. In addition, we study the temporal evolution of traditional market indicators, various global network measures, and the recently developed edge-based curvature measures. We show that network-centric measures can be extremely useful in monitoring the fragility in the global financial market indices.

Taking Venezuela back to the sustainability path: The role of financial development and economic integration in low‐carbon transition

AbstractEnvironmental protection and sustainable development are connected. Such connection is considered highly important for Venezuela, where fossil fuel abundance has created economic and environmental challenges. Surprisingly, only limited attention has been directed to identifying policy options for charting the path to sustainable development in the economy. Contributing to filling this gap in the literature, this study examines whether financial development, de facto and de jure conditions in trade and financial integration can trigger long‐term economic shifts that will change the trajectory of carbon dioxide (CO2) emissions in the economy using a novel estimation approach—dynamic simulations of autoregressive distributed lag (ARDL) models. The empirical modelling framework incorporates the impact of population, economic growth, energy intensity and government consumption expenditure. ARDL‐bounds test provides evidence that the variables are cointegrated. Long‐run estimates from the dynamic ARDL analysis show that de facto and de jure conditions in trade and financial components of economic integration offer varied policy options for carbon mitigation in Venezuela. Population size, energy intensity, government consumption expenditure and de facto condition in financial integration have increasing impact on CO2 emissions, exacerbating suitability challenges in the economy. On the other hand, positive shocks in financial development, de facto condition in trade integration and de jure condition in financial integration have a mitigation effect on CO2 emissions. Overall, financial development, trade integration and the control of cross‐border financial flows are needed economic conditions that can accelerate a quick transition to a low‐carbon develpoment in Venezuela.

Economic condition of the enterprise and its evaluation indicators

Introduction. The effectiveness of enterprise management largely depends on an objective, timely and comprehensive assessment of its economic condition. Today there are a number of studies that define the financial condition of the enterprise and reveal the content of this economic category. However, there are some differences between the financial and economic components, so it is necessary to clarify the essence of the concept of "economic condition of the enterprise" and justify the indicators for its evaluation. The purpose of the paper is the research of the concept of "economic condition of the enterprise", formation of a system of indicators for its assessment and implementation of an integrated assessment of the economic condition of PJSC "Odeskabel". Results. The paper presents a theoretical generalization of the essence of the economic condition of the enterprise and provides an author's definition of this category. The economic condition of enterprises is a complex concept that reflects the condition of the enterprise in the process of activity and is characterized by a system of indicators that determine the financial position of economic entities, the efficiency of their operation and the level of competitiveness in the market. The system of indicators for assessing the economic condition of industrial enterprises is substantiated. The stages and methods of calculation of a complex integrated indicator are revealed, which takes into account the value of all components of the economic condition of the enterprise and allows to identify problem areas and take measures to neutralize them in the future. Conclusion. The developed integrated indicator for assessing the economic condition of industrial enterprises from the position of its relationship with financial stability, liquidity, efficiency and competitiveness allows you to make better management decisions to determine development priorities in accordance with the planned goals of the enterprise.

Anti-crisis management – the basis of ensuring the economic security of the enterprise

In the course of the research it was established that under the conditions of modern development of economic relations in Ukraine a significant share of enterprises is in a state of crisis. It is established that crisis processes are predictable and expected and it is necessary to be ready for crisis situations. It was found that the neutralization of crisis phenomena, forecasting and prevention of insolvency of economic entities, as well as the stabilization of their financial and economic activities are possible under the conditions of effective anti-crisis management. Based on the systematization of the authors' interpretations on the definition of crisis management and economic security of the enterprise, it was found that crisis management is the basis for ensuring the appropriate level of economic security of the enterprise. The role of anti-crisis management functions is determined and their division into universal and specific, the action of which is aimed at maintaining the economic security of the enterprise in its various aspects. It is proved that the creation of an effective system of crisis management of the enterprise is a fundamental system, through which you can not only determine the location of the crisis, but also its causes. The essence of the main tasks of anti-crisis management of the enterprise is revealed, the implementation of which will help to identify crisis situations at the enterprise and minimize their negative consequences. The characteristic of principles of anti-crisis management of the enterprise is given. The process of anti-crisis management of the enterprise, which ensures its economic security in terms of the financial component, is studied. It is substantiated that the creation of an effective anti-crisis program is a guideline in ensuring the economic security of the enterprise.

The Chinese Students' Digital Competencies Formation in the Educational Space of the Russian University

In the past two decades, in the context of internationalization of higher education, the formation of a digital society in Russia and overseas the requirements for higher education have changed significantly. Digital skills and competencies should be acquired by a person in the education system, so the role of higher education and learning in general is growing. The Chinese students’ influx to the Russian universities is increasing, which presents a challenge for the Russian universities to develop the digital skills of the Chinese students demanded on the global labor market. The main objectives of the study were to determine the basic digital competencies that Chinese students need to form in the process of training at the Russian higher school. The study was conducted at three universities in Yekaterinburg. The research methodology combined both qualitative and quantitative approaches. The primary data was collected using questionnaires and in-depth interviews. 500 Russian and 500 Chinese students were questioned on the basis of quota sampling. In-depth interviews with 50 experts were conducted. The study has revealed the basic digital competencies required by Chinese students. They include: the ability to quickly respond to the intensification of ICT development, the ability to independently master and create innovations, the ability to work in network organizations with a decentralized management system (including Russian-Chinese), the skill of continuous self-education, the skill of self-study situation analysis and the skills of operational decision making. The research has found that in modern Russia there is a need to coordinate interstate, regional and university levels of innovative educational cooperation between Russia and China, to train Russian highly qualified specialists for the implementation of bilateral digital educational cooperation and to increase the financial component of the innovative development of the Russian-Chinese educational cooperation.
 Keywords: digitalization of higher education, digital competencies, Chinese students, the educational space of the Russian university, the interaction of the Russian and the Chinese higher schools

НАПРЯМИ ФІНАНСОВОГО ВІДТВОРЕННЯ СОЦІАЛЬНОГО КАПІТАЛУ В ГІРНИЧОДОБУВНІЙ ПРОМИСЛОВОСТІ

Анотація. Формування багатовекторної ринкової економіки в Україні, успішна реалізація всіх реформ у цьому напрямі та підвищення добробуту громадян не можливі без ефективної реалізації фінансових складових комплексного відтворення соціального капіталу, насамперед у гірничодобувній промисловості. Проте нестабільна соціально-економічна і політична ситуація у країні істотно загальмувала реалізацію реформ у вищевказаній галузі, що негативно позначилося на її окремих показниках. Ситуація дестабілізує і гальмує соціально-економічний розвиток усіх суб’єктів гірничодобувної промисловості. Тому актуальним питанням на сучасному етапі розвитку цієї галузі є визначення єдиних дієвих засад щодо комплексного відтворення ресурсного потенціалу всіх її суб’єктів господарювання. Предметом дослідження є сукупність методологічних, методичних і практичних напрямів фінансування комплексного відтворення соціального капіталу в гірничодобувній промисловості. Водночас її мета полягає у формуванні та характеристиці напрямів фінансового відтворення соціального капіталу в гірничодобувній промисловості і розробленні заходів їхньої ефективної реалізації. Окрім цього, результати дослідження відображають соціально-економічну сутність категорії «соціальний капітал у гірничодобувній промисловості». Вона трактується як сукупність психологічних, фізіологічних, моральних, етичних, економічних та інших особистих якостей і можливостей кожного працівника гірничодобувної промисловості, які є їхнім основним ресурсом і перевагою в порівнянні з іншими людьми, у процесі їхньої адаптації та ефективної реалізації в певному соціумі (соціальному середовищу) на макро- і мікрорівні. Також установлено, що сфера застосування напрямів фінансового відтворення соціального капіталу в гірничодобувній промисловості і їх поліпшення охоплює окремі рекреаційні напрями з матеріального, морального (психологічного) і соціально-побутового забезпечення працівників цієї галузі. Наукова новизна отриманих результатів полягає у виявленні, обґрунтуванні та аналізі схеми формування напрямів фінансування відтворення соціального капіталу в гірничодобувній промисловості. Також її невід’ємною частиною є характеристика ставлення різних соціально-вікових, статевих і професійних груп населення до фінансування відтворення соціального капіталу в гірничодобувній промисловості окремих регіонів України. Актуальність цього дослідження підтверджує також трансформація соціально-економічних відносин у всіх сферах громадської діяльності держави в контексті його глобалізації. Отримані результати дослідження дозволяють зробити висновки, що вони є основою для вивчення і практичного розв’язання проблеми комплексного відтворення соціального капіталу в гірничодобувній промисловості. Цей підхід передбачає, передусім, формування високого матеріального, соціально-побутового і морального (психологічного) стимулювання фахівців цієї галузі і підвищення їхньої трудової мотивації та якості результатів праці, а також фінансово-господарської діяльності гірничодобувних підприємств. Ключові слова: соціальний капітал, гірничодобувна промисловість, працівник, фінансова складова, матеріальне стимулювання, моральне стимулювання. Формул: 0; рис.: 2; табл.: 4; бібл.: 10.

The effect of a fresh produce incentive paired with cooking and nutrition education on healthy eating in low-income households: a pilot study.

This study pilot-tested combining financial incentives to purchase fruits and vegetables with nutrition education focused on cooking to increase the consumption of fruits and vegetables and improve attitudes around healthy eating on a budget among low-income adults. The goal of the pilot study was to examine implementation feasibility and fidelity, acceptability of the intervention components by participants and effectiveness. The study design was a pre-post individual-level comparison without a control group. The pilot intervention included two components, a scan card providing free produce up to a weekly maximum dollar amount for use over a 2-month period, and two sessions of tailored nutrition and cooking education. Outcomes included self-reported attitudes about healthy eating and daily fruit and vegetable consumption from one 24-h dietary recall collected before and after the intervention. Greater Minneapolis/St. Paul area in Minnesota. Adults (n 120) were recruited from five community food pantries. Findings indicated that the financial incentive component of the intervention was highly feasible and acceptable to participants, but attendance at the nutrition education sessions was moderate. Participants had a statistically significant increase in the consumption of fruit, from an average of 1·00 cup/d to 1·78 cups/d (P < 0·001), but no significant change in vegetable consumption or attitudes with respect to their ability to put together a healthy meal. While combining financial incentives with nutrition education appears to be acceptable to low-income adult participants, barriers to attend nutrition education sessions need to be addressed in future research.

FINANCIAL COMPONENT OF ESTIMATION OF EFFICIENCY OF MANAGEMENT OF ENTERPRISE ON BASIS OF BSC

The current trends in the aircraft building market are highlighted and the transformation need of the management system from the industrial to the partner model of the aviation products manufacture are actualized. The prerequisites for the target approach usage to assessing the management effectiveness are substantiated. The research methodology based on the use of the balanced indicator system BSC and the author adapted model of the key indicators of the company's efficiency for assessing the management effectiveness of the aircraft building enterprise is proposed. Such indicator was defined the social responsibility of business — an integrated indicator of the value of the enterprise for the society in order to improve the quality of life. At forming of the system of evaluation indexes certainly main principles of their construction: simplicity and visibility of the indicator system; limited number of indicators; the ability to measure indicators; determining the impact of each indicator on the enterprise efficiency as a whole. In order to evaluate the financial component of achieving the long-term goals on the basis of the BSC model and within the financial policy of JSC «Motor Sich» the following indicators have been chosen: return on equity, turnover assets, value of capital, structure of equity capital, loan interest rate, market size, market companies share, sales profitability, net profit per one share, coefficient of gross change ratio, coefficient of production cost factor, coefficient of administrative expense ratio, coefficient of implementation costs and coefficient the ratio of net profit. Research results specify on the positive changing — increase on the enterprise of efficiency of management operating charges. The factors of their negative influence on the possibility of achieving the strategic goal of the enterprise have been determined on the basis of their calculation and quantitative data analysis: According to the criteria of the financial component of the activity of the aircraft building enterprise, trends of changes were determined and the depth of deterministic influence of the indicators of efficiency of JSC «Motor Sich».

Financial Elements in Teaching and Learning of Mathematics: A Systematic Review

Financial literacy is one of the 21st-century skills that are important for young people. Thus, integrating financial components in Mathematics subject is a way to instill financial literacy among students. This study aimed to determine the factor influencing the integration of financial elements and identify effective methods to enhance studentsʹ financial literacy. The research articles are collected from 2011 until 2019 through online databases known as Education Resources Information Center (ERIC), Sage Journals, Web of Science (WOS), ScienceDirect, and SCOPUS. The research finding shows that the factors affecting studentsʹ financial literacy were teaching methods and strategies, parental socialization, and school curriculum. It is essential to understand the influence of numerous factors. Knowing the factors that lead to or detract from the acquisition of financial literacy among students will improve their economic well-being by making policy initiatives. Financial socialization such as learning in school and parentsʹ involvement has become a significant factor in studentsʹ financial literacy. The practical methods used to enhance studentsʹ financial literacy consist of inquiry-based mathematics, technological simulation, interactive module, simulation games, workshops, and school camps.

Neural network modeling of innovative development of JSC «Ukrtransnaft»

Methods. The following methods were used in the research: analysis and synthesis – to set the problem of neural network modeling of the level of innovative development of economic entities and the selection of its stages; methods of generalization and grouping – in the formation of a system of individual indicators to determine the level of innovative development; multilayer perceptron training method – to characterize the operation of the neural network. Results. The article considers the possibility of applying the method of forecasting the level of innovative development of enterprises of the oil transportation complex with the use of neural network modeling. The problem of neural network modeling of the level of innovative development of economic entities is set, and its six stages are defined: formation of a system of indicators of the level of innovative development, preliminary data processing, neural network formation, neural network training and result. There has been formed a system of individual indicators for determining the level of innovative development by production, personnel, financial and property components. These indicators are used to build a neural network. There are specific limitations that characterize the learning of the neural network and distinguish it from the general optimization problems: astronomical number of parameters, the need for high parallelism in learning, multicriteria of problems, the need to find an area in which the values of all minimized functions are close to minimum. The advantages and disadvantages of neural network forecasting of the level of innovative development of enterprises are determined. Novelty. An algorithm for forecasting the level of innovative development of oil transportation enterprises using neural network modeling is proposed. A system of individual indicators for determining the level of innovative development by production, personnel, financial and property components has been formed. Practical value. The results of the study have theoretical and practical value, as they allow the use of neural network modeling to predict the level of innovative development of enterprises.

МЕТОДОЛОГІЯ ФОРМУВАННЯ ФІНАНСОВО-ЕКОНОМІЧНОГО СКЛАДНИКА МАРКЕТИНГОВИХ ПРОЦЕСІВ У КОМЕРЦІЙНІЙ ДІЯЛЬНОСТІ

The article emphasizes that the formation of the financial and economic component of marketing processes is based on the media plan. A special place in the analysis of marketing processes in commercial activities is given to economic analysis of marketing activities. The analysis of the basic methods of formation of the budget for marketing activity is carried out. It is concluded that the achievement of a systematic and clear idea of financial and economic indicators in marketing processes (activities) is achieved through the use of tabular data presentation. Depending on the analytical content, there are tables that reflect the characteristics of marketing processes on the following grounds: the dynamics of the studied cost indicators, subprocesses and results, structural changes in indicators, the relationship of cost indicators and results in different areas of marketing, the results of calculating factors on the results of marketing activities, the method of calculating reserves, and summarized results of the analysis of activities. Methods of deterministic factor analysis reveal the relationship of the resulting factors with decisions related to marketing processes, namely with pricing decisions and various marketing costs. Heuristic methods of analysis (namely the method of expert evaluations) of marketing activities are used to determine targets and the significance of deviations, to form a set and select indicators to assess the costs, subprocesses and results of marketing activities. The method of marginal analysis is a method of assessing and justifying the effectiveness of management decisions in the commercial sphere on the basis of the causal relationship between sales, profits and costs. The objects of marginal analysis can be both individual marketing activities and marketing functions, as well as marketing activities in general. The description of methods is given, their features, advantages and disadvantages of use are specified. Ways to determine the minimum and optimal size of the marketing budget are studied separately. It is advisable to use mathematical models to determine the optimal financial and economic component of marketing processes. This will allow you to calculate the optimal cost with a high probability.

Movement of the components of Russian financial capital

In the article there is revealed movement of financial capital components as a substance – the unity of diversity and the diversity of unity. Analysis of USD / RUB, RGBI, RTSI, SBER, IMOEX dynamics revealed speculative behavior of financial capital owners (IMOEX, USD / RUB, SBER) in relation to internal (RGBI) and external (RTSI) market. Analysis of importance of growth rates of GDP and its components revealed the state priority of GDP deflator regulation (Central Bank – inflation targeting) in the context of state revenues growth and, as a structural consequence, reduction of importance of growth rates of GDP and expenditures of households consumption against the background of increase of importance of commodities and services import. At the same time the quite high values of importance of growth rates of export of Russian commodities and services are identical to ones of such countries as Australia, Estonia and Columbia. Analysis of capital growth rates revealed fixation of interrelations between the Central Bank and financial corporations in the context of regulation of money supply and currency outside financial corporations and internal claims. These relations strengthen due to focusing of monetary and credit policy at “clear requirements to central government” and at inflation targeting. Research of the Russian financial capital components movement demonstrated corporate strengthening of interrelations between the Central Bank and the financial corporations and also defined the options for regulation of speculative behavior of financial capital owners.

Модель інтегральної оцінки економічної безпеки підприємства

It is noted that in modern conditions of instability, contradictions of reformation processes one of the most important tasks of economic science and practice is the development and implementation of an integral part of economic security – security system of enterprises and organizations, which must be represented by a set of organizational, legal, socio-economic, and managerial decisions that provide effective protection against external and internal threats and promote progressive development in the interests of the national economy. The formation of a market economy has objectively put the vast majority of domestic enterprises and organizations in front of the need to create a system of economic security that can reduce the level of threats to activities in key financial and economic areas. The purpose of the article is to study the methodological views on the essence of economic security and methods of its assessment, as well as to develop a model of integrated assessment of the level of the enterprise economic security. The methodological basis of the study are the scientific works of the classics of economics, works and publications of leading scientists and specialists who study the economic security of economic entities, combining theoretical and scientific methods: analysis, synthesis, theoretical and logical generalization. The analysis of approaches to the interpretation of the "economic security" concept is carried out and it is determined that the studied definition is multifaceted and complex and includes: the state of protection from unwanted changes (threats); efficient use of resources to prevent threats; system and the presence of competitive advantages that allow to achieve the main goals of the enterprise; the ability to reproduce and ensure the viability of the firm regardless of the instability of the external and internal environment; creating conditions and ensuring sustainable operation, progressive scientific, technical and social development, ensuring financial and commercial success. Based on a systematic approach, a model of integrated assessment of the level of the enterprise economic security is suggested, which allows to assess not only the state of the object of study, but also the development trend. For the methodical formation of an objective assessment of the integrated level of the enterprise economic security, the necessity of using a system of indicators for production and sales, personnel, technical and technological, financial component is substantiated. Based on the suggested model, the current and forecast level of economic security of such enterprises as PJSC "Hartron", PJSC "Datagroup", PJSC "Kyiv Radio Plant" was determined. Prospects for further research are the approbation of the model for business entities of different industries, different organizational and legal forms of ownership in order to identify the features of the assessment and refinement of the model.

Conceptual Fundamentals of Organizational and Economic Mechanism Formation of Economic Sustainability Management of a Telecommunication Enterprise

Modern telecommunications companies operate in conditions of risk and uncertainty due to both external and internal factors. Due to the influence of various factors, companies may find themselves in a state of crisis due to the lack of a management mechanism, the main purpose of which is to ensure economic stability and efficiency based on sustainable capacity building. This article aims to identify the factors that affect the economic stability of telecommunications enterprises in Ukraine and study their impact on the integrated indicator to form an organizational and economic mechanism for managing economic stability. The study was carried out using the following methods: analysis, synthesis, generalization, systematization, correlation, and regression analysis. The main tendencies of Ukrainian telecommunication networks development are defined in this research. The key structural element of this mechanism is proposed to determine the assessment of economic stability based on the use of a set of balanced indicators. Based on correlation and regression analysis, a significant dependence of the overall integrated indicator of economic stability on the subscriber component, moderate-on the component of internal business processes and staff training and development, and a weak inverse dependence on the financial component. Using multicollinearity proved expediency to check the tightness of the relationship between the analyzed variables in the regression model. (C) CIKD Publishing

КАДРОВИЙ ПОТЕНЦІАЛ ПІДПРИЄМСТВ ЗАЛІЗНИЧНОГО ТРАНСПОРТУ: ІНСТРУМЕНТИ ТА ДЕСТРУКТИВНІ ЧИННИКИ РОЗВИТКУ HUMAN

Budgeting is gaining great popularity among domestic enterprises, whereas enterprises at those are used modern methods of the budgeting process can more effectively organize financial and economic activities. Today, the financial planning is one of the most effective alternative financial instruments used by enterprises to improve their financial activities and strengthen their financial condition. It allows to foresee and assess in advance the financial viability of individual lines of enterprise’s business, which is able to ensure the financial stability of the business entity as a whole. COVID-19 and the pace of changes that had taken place have put many businesses in the state of survival with a focus on cash flow, planning and profitability. This requires the improving systems and processes to minimize the impact of economic uncertainty. In the modern world the financial planning and analysis is the leader in the sphere of transformation of the entire business in general and its financial component in particular. There is a wide variety of methods of implementation and use of budget management, which were developed and improved by foreign scientists and researchers, as well as domestic scientists to adapt to economic and market conditions. Each budgeting method has its advantages and disadvantages. Applying the right way of budgeting will ensure the growth of management efficiency through the creation of additional value and improving control properties. Modern budgeting methods are aimed at increasing the company's flexibility through a preliminary analysis of possible changes in both external and internal environment, which will help minimize risks. The features of the budgeting process at enterprises are considered. Also in the work there is a consideration of the concept of budgeting by various scientists and researchers. The analysis of various methods of implementation and use of budget management is carried out, the essence and effectiveness of each of the methods is disclosed, and the positive and negative features of the methods of the budgeting process are highlighted.

Procjena nekonvencionalnih mjera Evropske Centralne Banke - rekurzivni VAR pristup

Unconventional monetary measures utilization has proven to be of great importance in maintaining monetary and economic stability after the Great Recession. However, we aim to test this conclusion through the impact of the quantitative easing implemented by the European Central Bank. Observed through generated shocks in the balance sheet of the Eurosystem as our main variable, we tested whether quantitative easing reestablished economic growth and rose price levels, mainly through lowering borrowing costs for banks, thus helping in the post-crisis recovery. To prove our hypotheses we construct a recursive VAR model estimated in levels using 2014M05-2018M12 data. The model incorporates variables such as the industrial production and the HICP, as output and price level proxies, and financial components such as the EONIA-MRO spread and the CISS index. The results show that the expansion shocks of the consolidated balance sheet have a positive temporary influence on industrial production and the HICP, but the reaction of the former seems to be 2.24 times greater. On the other hand, we find out that quantitative easing has an expected negative impact in widening the EONIA-MRO spread. Furthermore, we could not confirm the theoretically expected accommodative impact on financial stress.