Level Of Individual Enterprises Research Articles

Artificial intelligence as a core of the new industrial revolution: prospects and limitations

The purpose of the article is to define prospects and limitations of artificial intelligence as a core of in the new industrial revolution. The definition of the concept of AI in the scientific community remains the subject of heated debate. At the same time, in the regulatory and legal plane, a trend is being formed towards unification of the concept of AI. Based on the analysis conducted and literary sources, the following prospects for AI can be identified on theoretical and practical levels. On theoretical level: (1) alienation of tacit knowledge from the individual (employee and entrepreneur); (2) optimization of the planning system; (3) revision of the socialist-calculation debate; (4) decreasing information asymmetry. On practical level: (1) formation of new products and markets; (2) increasing labor and capital productivity; (3) massive creation of new jobs; (4) optimization of business processes; (5) opportunity for rapid growth for small businesses and startups. Limitations: (1) long-term structural unemployment; (2) inflated expectations from AI and, as a consequence, the possible formation of a speculative bubble in the global stock market; (3) energy consumption of AI; (4) outdated pre-AI corporate culture and regulatory environment. Further improvement of AI (including the transition from AI to AGI) and the expansion of its use can make a significant contribution to solving problems related to economic calculation and minimizing information asymmetry, and therefore optimizing transaction costs in the economy. AI, certainly acting as a locally useful tool at the level of individual enterprises and organizations, causes the acceleration of attracting funds to the stock market, which can lead to the formation of a bubble on global level. If this bubble bursts, expectations about the economic efficiency of AI will be revised, and some AI-related companies will experience significant margin reductions (perhaps losses and bankruptcies). But this, in turn, will initiate the next stage of AI development, will accelerate its transition from the current narrow specialization to the creation of full-fledged general artificial intelligence (artificial general intelligence), which has a greater potential to change the economy at all levels. As a result, AI will become established as the core of the new industrial revolution.

CREATION OF TOOLS FOR THE DEVELOPMENT OF THE ENTERPRISE - SUBJECT OF ZED

The purpose of the article is to consider tools for the development of enterprises that are subjects of foreign economic activity (FEA). The consequences of the war against Ukraine create a compelling need for the development of the national Ukrainian economy. Analyzing the foreign experience of different countries in the post-war period indicates that export activities are one of the most reasonable vectors for such development, both at the level of individual enterprises and at the level of the national economy as a whole. Strengths, weaknesses, opportunities, and threats have been identified for Ukrainian enterprises operating in the field of foreign economic activity. It is shown that the number of threats has increased compared to the pre-war period. Despite the significant number of threats and weaknesses, the analysis shows that Ukrainian enterprises have a "window of opportunities" that can be effectively used. Using dichotomous criteria for the possibility of entering foreign markets and the potential of the domestic market, a matrix of strategic choice has been developed. This matrix is intended for use at the level of individual enterprises. A reasonable strategic choice for the enterprise is determined for each quadrant of this matrix in the general version, and industry-specific recommendations are considered. Based on formulated key questions, necessary development tasks are identified for enterprises as subjects of foreign economic activity. These tasks include strategic goal setting, determination of the competitive advantage used, and development of the enterprise strategy. Necessary management tools are proposed and described for the implementation of each of these tasks. A set of key questions has been developed for the chosen model of enterprise development strategy to determine the content of the elements of such a strategy. The usage of proposed development tools for subjects of foreign economic activity is briefly presented using the example of automotive industry enterprises.

Strategic management approach to digitalization of business: the impact of Euro-Atlantic integration on the modernization of Ukrainian enterprises

Relevance of the research topic. Changes in legislation and regulation aimed at supporting digital transformation are creating new opportunities for businesses. Ukrainian enterprises need modernization and adaptation to modern conditions of competitive business. Digital technologies are a powerful tool for increasing the efficiency and competitiveness of enterprises. Ukraine's integration into Euro-Atlantic structures, such as the European Union and NATO, creates new opportunities and requires enterprises to meet standards and requirements. All this creates a basis for discussing the impact of Euro-Atlantic integration on digital modernization. Formulation of the problem. Ukraine, like other countries, faces the need to modernize its business in conditions of deep changes in the world economy. This modernization includes the transition to digital transformation, which is an urgent strategic goal for many Ukrainian enterprises. The implementation of digital technologies and processes confronts enterprises with numerous challenges and problematic issues. Analysis of recent research and publications. In general, this problem attracts considerable attention of both Ukrainian and foreign researchers. They explore various aspects of business digitalization and examine its impact on enterprise modernization in the context of Euro-Atlantic integration. However, the task of further research may be the integration and generalization of the results, the development of specific recommendations for Ukrainian enterprises and the determination of optimal strategies for their development. Selection of unexplored parts of the general problem. The interaction of digital technologies and Euro-Atlantic European integration at the level of individual enterprises and industries, as well as the analysis of practical examples of the implementation of digital initiatives in small businesses, have not been sufficiently studied. Additional research is needed to study cyber security issues, the development of financial models for enterprises, the study of ethical issues related to the collection and processing of data in the digital environment, as well as the impact of Euro-Atlantic integration on legislation in this field. Problem statement, research goals. The research is aimed at studying the impact of Euro-Atlantic integration on the process of digitization of Ukrainian enterprises, as well as determining the key factors that influence this process. The article aims to contribute to the understanding and effective use of opportunities that open up to Ukrainian enterprises due to integration with Euro-Atlantic structures in the context of business digitalization. Methodology of the study. Complex of scientific abstraction, theoretical comparative analysis and synthesis of own innovative ideas. Presentation of the main material (results of work). An overview of the degree of use of digital technologies in Ukrainian business was conducted, including statistical data, the level of infrastructure and the activity of enterprises in this direction. The influence of Euro-Atlantic integration processes on the development of digital technologies in Ukraine is analyzed, in particular in the context of the harmonization of legislation and ensuring access to European markets. Key factors affecting the successful implementation of digital projects in Ukraine and obstacles that may arise in this process have been identified. Based on the obtained results, recommendations were formulated for Ukrainian enterprises and state bodies on issues of speeding up the process of digitization and Euro-Atlantic integration. In conclusion, the main conclusions of the study are given, indicating the relevance and importance of further measures for the development of Ukrainian business in the context of digital modernization and integration with Euro-Atlantic structures. Field of application of results. Training of applicants in the specialty 073 "Management" with medium and long-term strategic vision. Conclusions in accordance with the article. Digitization opens up new opportunities for small and medium-sized enterprises to develop and carry out international operations. However, it also creates challenges in securing investment and training. The development of the digital market in Ukraine promotes the emergence of new innovations and creative services. The digital market in Ukraine is connected with Euro-Atlantic integration through harmonization and increasing the competitiveness of Ukrainian enterprises on European markets. The key technologies of digital transformation in Ukraine include Internet of Things (IoT), blockchain, artificial intelligence, virtual reality, etc. These technologies directly affect the development of business in Ukraine. A SWOT analysis allows you to track the strengths and weaknesses of a business in the context of digitalization, as well as identify opportunities and threats in the market. PEST analysis examines political, economic, social and technological factors affecting business in the context of Euro-Atlantic integration and digital transformation. The digital economy is becoming an increasingly important component of Ukraine's GDP and contributes to the growth of national business and raising the standard of living of the population.

Soviet Research on the Economic Potential of the Scientific and Technological Revolution and the Theory of the Fourth Industrial Revolution

The article is devoted to the problems of the regularities of the evolution of economic thought, the relationship between the development of economic reality and science, the nature of the similarity of the positions of seemingly completely unrelated theories. In particular, in the text the relation between Soviet research approaches of the socio-economic consequences of the scientific and technological revolution and the theory of the Fourth Industrial Revolution is focused. As a result of modern technological transformations, the economic reality is changing, which, in turn, sets a new research scope for theory. The appeal to historical experience, research of the correlation between theory and practice contributes to the search for answers to modern challenges. The key features of scientific and technological revolution highlighted by Soviet researchers were automation and chemicalization. These components also related to the Fourth Industrial Revolution in the evolved form. In capitalism, they have a direct impact on a number of elements of the economic system, which was reflected by both Soviet economists and modern researchers. Issues on the adjustment of production goals and the functioning of its system are raised. Issues on the adjustment of production goals, the expansion of quality of life criteria are raised. Potential transformations affect both the level of individual enterprises and national economies as a whole (mainly in developed countries). The prerequisites for expanding the role of the government are highlighted. The article concludes that, despite the need to revise a number of provisions, the legacy of Soviet thought, as well as the theory of the Fourth Industrial Revolution, is becoming more topical currently. It is determined by the course of scientific and technological progress. It is noted that the advantage of Soviet approaches is their belonging to a large theoretical system, Marxism. The theory of the Fourth Industrial Revolution is included in the field of several disciplines, but it is not closely related to any already established research tradition.

CURRENT STATE OF TECHNOLOGY TRANSFER IN UKRAINE AND THE WORLD IN THE FACE OF MODERN CHALLENGES

The article analyses the essence, significance, and current state of technology transfer in Ukraine and the world in the face of the latest challenges. The relevance of this topic results from the rapid pace of the development of innovative technologies and the expansion of the scope of innovation activity both at the level of individual enterprises and at the state level as a whole. The main stages of technology transfer and their features are identified. The problem of technology transfer development is studied in the face of the challenges of our time (globalization, pandemic, martial law in Ukraine).

Ecosystems as an Innovative Tool for the Development of the Financial Sector in the Digital Economy

The purpose of this article is to analyze the trends in the development of the financial sector, as well as the digital technologies used in this area, to identify the fundamental drivers for improving the ecosystem of the financial sector of the economy. Achieving sustainable business growth is one of the urgent tasks of management, both at the level of individual enterprises and organizations and the national economic system as a whole. This issue is of the highest relevance in the context of the high dynamism of the external environment and the growing level of uncertainty. When writing the article, the following research methods were used: trend analysis, visual graphical analysis, descriptive statistics, correlation-regression analysis, and cross-tabulation. Based on the results of the analysis, it can be concluded that the following indicators have the greatest impact on the ecosystem of the financial sector: the share of financial organizations that had special software for managing the procurement of services; the share of financial organizations that had special software for managing the sales of services. With regards to the Russian financial sector, there is a weakness in the development of the ecosystem, which is partly due to the insufficient use of complex digital solutions in managing financial flows, for example, the use of ERP systems (enterprise resource planning), CRM systems (customer relationship management), and SCM systems (supply chain management). We believe that the conclusions and results presented in this article can be used as methodological tools for developing strategies for improving the ecosystem of the financial sector in the context of the transition to a digital economy.

СОЦІАЛЬНА ВІДОВІДАЛЬНІСТЬ БІЗНЕСУ ТА МЕНЕДЖМЕНТУ: КЛАСИФІКАЦІЯ ФОРМ ТА ДЕТЕРМІНАНТИ ФОРМУВАННЯ

In modern society, the issue of social responsibility of business owners and company managers is essential both at the level of individual enterprises and at the level of society as a whole. It manifests both in economic and non-economic interests of business entities and the state. The origin of the problem of social responsibility of business owners and company managers and its evolution is analyzed in the article. The main possible criteria for classifying the forms of social responsibility of business in modern conditions are systematically defined. According to the criterion of the origin of social responsibility of business, such forms as "automatic", "competitive forced", "state-forced " responsibility are defined. By the sphere of distribution (focus) the internal and external forms of social responsibility of business are justified. According to the nature of social responsibility of business the forms of "forced (necessary)" and "sincere (voluntary)" social responsibility are selected. In fact, the "sincere (voluntary)" can be interpreted as an additional (non-economic, altruistic) social responsibility of business owners and managers. The relevant features and subject orientation (employees, consumers, state, other subjects) for each of the proposed forms of social responsibility of business are defined. It is shown that the scale and intensity of manifestations, dynamics of social responsibility of business owners and managers are influenced by both internal and external factors. The internal factors, that are formed within the enterprises, include: the potential of the business organization (scale, profitability, etc.); peculiarities of market conditions for doing business (specifics of competition, consumer requirements, etc.); values of business owners and top managers. In the context of external influence, the role of market and economic factors and regulatory instruments, used by the state to ensure a certain level of achievement of social responsibility of business owners and managers, is shown.

Ідентифікація стану оплати праці та можливості розвитку гідної оплати праці у промисловій галузі України

Ensuring the sustainable development of industrial enterprises depends, to a large extent, on motivating the personnel to achieve set goals, which is primarily shaped by a factor such as «labor payment». This article proposes an approach to identify the status of labor payment and assess its dynamics by types of economic activities in the industry of Ukraine from the perspective of ensuring fair labor compensation. The use of taxonomic analysis as an identification tool allowed us to: establish the types of economic activities in the Ukrainian industry with the best and worst labor payment status; identify key changes in the field of labor compensation (both by specific types of economic activities and overall in the industry); group types of economic activities in the industry by the level of development and the manifestation of fair labor compensation characteristics. Based on the summary of the analysis results, a deterioration in the state of labor payment has been identified across most types of economic activities in the industrial sector, allowing it to be classified as unsatisfactory. The main obstacles to ensuring a fair level of labor compensation have been identified: low wage levels (below the country's average, particularly in 2021); inefficient allocation of labor payment expenses; and the presence of wage arrears. Directions for reforming and improving the labor payment policy in Ukraine's industry have been determined, both at the state level and at the level of individual enterprises.

Influence of the factor "manufacturability" on the economic structure of the innovation process of an industrial enterprise in the context of sustainable development

The introduction of innovations acts as a means of ensuring sustainable develop-ment both at the state and regional level, and at the level of individual enterprises. The effectiveness of the last level is due not only to the innovative activity of the company's management and personnel. According to the authors, in this case, the structure of the economic process of innovative development of industrial enter-prises is significantly influenced by other factors, the role and significance of which require specification, taking into account the industry specifics of economic enti-ties. The article analyzes the economic structure of the innovation process of Rus-sian manufacturing enterprises. The decomposition method determines the indica-tors of market and technological novelty, as well as the scale of diffusion of inno-vative products. A detailed analysis of the innovative activity of Russian industrial enterprises is carried out, depending on the degree of manufacturability of the type of economic activity. For this purpose, the types of economic activities of enter-prises are grouped into separate aggregates that correspond to a certain degree of manufacturability, determined according to the international classification used by the OECD. The manufacturing sector is investigated in the form of industries attributed to one of four meso-groups: high-tech, medium-high-tech, medium-low-tech and low-tech activities. For each of them, its representative is allocated (one of the types of economic activity), the dynamic characteristics of innovation ac-tivity of which differ significantly from the characteristics of the group as a whole. The proposed approach allows us to study the dynamics of development and de-termine the main stages of the innovation process in the types of activities of manufacturing industries of various degrees of manufacturability. It was found that the highest innovative activity is characteristic of high-tech Russian enterpris-es. A decrease in the degree of manufacturability of production has a negative im-pact on the innovative activity of meso-groups in general. The exception is the class of low-tech industries. The innovative activity of the group of enterprises of low-tech industries is much higher than the activity of medium-high-tech indus-tries.

Integration of systemic and process approaches to an enterprise management within the National project “Labor productivity and employment support”

The paper explores issues related to improving the quality of management at enterprises which are participating in the implementation of the priority national project “Labor Productivity and Employment Support”. The problem is that at the enterprises participating in the national project, ongoing changes often do not affect the fundamental foundations of improving managerial activity; a systematic and process approach to management is traditionally positioned autonomously from each other. This situation does not allow participants in the national project to realize fully the existing potential for improving labor productivity. To more effectively achieve the target parameters of this national project at the level of individual enterprises, it was proposed to integrate the basic elements of a systemic and process approach to management. A comparative analysis of the systemic and process approaches to management in relation to the participants of the national project has been completed. There were identified the main groups of management processes associated with the basic elements of the enterprise management system in the framework of the national project. Also, there was developed a model for integrating systemic and process approaches to managing the company participant to increase labor productivity. The results of the study were tested in the practice of implementing the national project “Labor Productivity and Employment Support” at large industrial companies of the Perm Territory. The research used the methodology of an integrative approach to solving management problems, as well as the methodology of system and comparative analysis. The results of the study can be used in the Federal and regional centers of competencies to develop recommendations for improving management at enterprises participating in the implementation of the national project “Labor productivity and employment support”.

Extreme Weather Events as Risk Factors for Oil and Gas Facilities

The article discusses issues related to the influence of changes in the frequency, intensity and duration of extreme meteorological events on the objects of the oil and gas industry. Climate indices recommended by World Meteorological Organization (WMO) are used as characteristics of the extreme events. The possibilities of using climatic indices for identifying physical risks applicable to the objects of the oil and gas industry are demonstrated. The features of the spatiotemporal variability of climatic indices are considered and the geographical regions of the Commonwealth of Independent States (CIS) are identified as the most and least vulnerable to changes in the extreme characteristics of the climate. The results obtained can be used both at the level of individual enterprises and facilities of the oil and gas industry, and in the development of regulations common for the industry.

Теоретичні основи гнучкої та нестандартної зайнятості

The article is aimed at studying theoretical approaches to understanding the essence of flexible employment policy in modern enterprises. The article analyzes approaches to understanding the essence of the definition of «employment of the population» by domestic and foreign scholars. Modern trends in the field of employment of workers are identified, interpretations of the terms «non-standard employment» and «flexible employment» are studied, their common features and differences are determined. The main trends in the use of labor force are aimed at reducing the costs of structural restructuring of the economy by: the use of various forms of hiring employees and their labor engagement, flexibility in regulating working hours (ensuring a flexible schedule with irregular working hours), flexibility in matters of remuneration (using a differentiated and individual approach), flexibility in the use of forms and methods of social protection of workers. The article analyzes the peculiarities of using the flexibility model in the context of employment problems. Based on the analyzed theoretical approaches, the definition of a flexible employment policy at the State level and the level of individual enterprises is provided. At the State level, flexible employment is defined as a form of labor market regulation, which takes into account and does not oppose the interests of both subjects of social and labor relations, i. e.: employers and hired employees. At the level of individual enterprises, flexible employment policy is the company’s policy towards employees, which gives the latter the opportunity to choose between working and free time – both in terms of the amount of time and the mode of its use. Thus, the introduction of a flexible employment policy both at the level of individual enterprises and at the State level as a whole will make business more responsible, increase the level of economic activity of the population, make enterprises and organizations more competitive in the labor market in the context of informatization and digitalization of modern society.

ПІДВИЩЕННЯ ЕФЕКТИВНОСТІ РОБОТИ ПІДПРИЄМСТВ МОРСЬКОГО БІЗНЕСУ ЗА РАХУНОК ВПРОВАДЖЕННЯ ЦИФРОВІЗАЦІЇ

Digital transformation is the introduction of modern information technologies into the business processes of an enterprise.Digitization of business processes is relevant not only at the level of individual enterprises. Whole industries choose this path of development as the only way to meet the ever-changing environmental conditions. Thanks to this, the digital transformation of industry, retail trade, the public sector and other areas is already changing the life of every person and every company today.Digital transformation of business processes is aimed at companies making quick decisions, quickly adapting their work to today's requirements and meeting the needs of their customers. The process of digitization did not bypass the port activity. Digitization of business processes in this field is quite active and effective.The article analyzes the main theoretical aspects of the implementation of digitalization of business processes in port activities. The main modern trends of digital transformation, which are relevant for the port industry today, have been identified. The authors reflect the main prospective directions of the introduction of digital technologies in the activities of port enterprises.In the course of the research, the general transformational processes taking place in port activity due to the introduction of digital innovations were analyzed.An analysis of the main effective IT-solutions used in the field of port cargo handling accounting was carried out. The authors also determined how digital technologies affect the safety of transportation and the optimization of the work of the personnel of port enterprises. As a result of the study, it was established that the implementation of digitalization of business processes significantly affects the overall efficiency of the sea ports. It was determined that the use of modern digital technologies makes it possible to improve the quality of ship service, increases the throughput capacity of the sea ports, and also increases the level of security during cargo transportation.Keywords: digital technologies, digital transformation, business models, digitization of business processes.

Assessment of digital transformation in the education system of Kazakhstan

Today, the issue of e-learning is very relevant. The concept of "informatics" has entered all spheres of our life, gradually transforming many processes of activity from mechanized to automated, with the help of information systems. In the modern world, we can no longer imagine many life cycles without informatization or digitalization. Digital transformation is the introduction of modern technologies into the business processes of an enterprise. This approach implies not only the installation of modern equipment or software, but also fundamental changes in approaches to management, corporate culture, and external communications. Digitalization of processes is relevant not only at the level of individual enterprises, but entire industries choose this path of development for themselves as the only opportunity to meet the rapidly changing conditions of the surrounding world. Thanks to this, the digital transformation of industry, trade, public sector, education, and other spheres is already changing the life of every person and every company. The article examines the current state of digital transformation in the education system based on the implementation of e-learning in the Republic of Kazakhstan, identifies the main problems in the implementation of state programs for digitalization of the national education system as a whole. The purpose of the article is to outline measures for the development of the education system in the direction of digitalization of processes based on the assessment of the implementation of e-learning.

The Repercussions of the Donbass Crisis On Foreign Investment in Lugansk, Ukraine

Luhansk region is one of the biggest industrial regions in Ukraine and has considerable economic potential, which attracts attention of foreign enterprises. Foreign economic activity of the region is realized both at the level of the region and at the level of individual enterprises. This work aims to shed light on the Donbas crisis and the reasons behind the recent disquieting developments. The research divided the beginning of the concept of the economic crisis and the repercussions of the Donbas, specifically the city of Luhansk, eastern Ukraine, before and after the crisis.

ЗАСТОСУВАННЯ ESG-ПРИНЦИПІВ У РОБОТІ ПІДПРИЄМСТВ: ПЕРСПЕКТИВИ ТА РЕАЛІЗАЦІЯ

The introduction of progressive ideas of sustainable development in the modern world, their spread to the level of enterprises led to the formulation and expansion of the influence of the concept of sustainable development of the organization. Sustainable development of the organization involves progressive positive movement and qualitative transformations aimed at long-term perspective and related to the conscious and focused interaction of the enterprise with the external environment, taking into account the goals of increasing its competitiveness. In this way, a clear connection between the global concept of sustainable development and the activities of a specific organization aimed, in particular, at making a profit, is recorded. Progressive ideas of sustainable development, on the one hand, put forward new requirements for the approaches and quality of human resources management and directly for personnel management services at the enterprise, on the other hand, inevitably change the requirements for the employees of the enterprise. ESG does not contradict the interests of society and entrepreneurship, but on the contrary, they are compatible them. In conditions of increased uncertainty, corporate values specified by ESG criteria can become additional points of support for entrepreneurship. In addition, sustainable development involves industrial, environmental, and information security, which is especially relevant today. Not only foreign investors are guided by ESG criteria, but also many stakeholders, in the conditions of the outflow of foreign capital, the source of capital will be the state, which will also evaluate enterprises from the perspective of these criteria. Currently, when the concept of sustainable development is gaining more and more influence at all levels, including the level of individual enterprises, attitudes towards human resources and approaches to personnel management have undergone significant changes. With the growing role of human resources in achieving the goals of sustainable development, the role and responsibility of organizations is increasing. The organization's compliance with ESG principles contributes not only to the realization of socially and economically significant large-scale goals, but also to improving the image and attracting investments to the company.

THE IMPORTANCE OF THE ORGANIZATION OF ACCOUNTING AND CLASSIFICATION OF ACCOUNTING

The article considers the current state of methodological tools for the formation of financial statements, based on the interests of consumers of such reporting and the current state of the domestic economy. On the basis of the organization of accounting the necessary general theoretical provisions and methodology of formation of system of the accounting administrative reporting are defined, following which it will be possible to speak about existence of necessary conditions of formation of a qualitative information base for acceptance of administrative decisions. A description of the range of users, which allows to limit the various options for financial reporting, taking into account their real needs and interests. Depending on the specific features of the company and the content of financial statements, the justification of categories according to the content of information. The place and significance of financial reporting in the process of forming macroeconomic indicators and determining the directions of classification of financial statements based on the results of spectral analysis of information interests of users of accounting information at the local level and at the macro level of the state as a user of information. For business entities, financial statements are allocated, which reflect information on ordinary and extraordinary activities with the appropriate details. The degree of automation of the management and accounting system, which is divided into automated, partially automated accounting and manually compiled, is considered. It is noted that the considered areas of grouping of financial statements take into account the information interests of users of accounting information both at the local level of individual enterprises and at the state level as users of information in the formation of macroeconomic indicators, which will improve their quality and improve the range of indicators.

Short-term debt of the corporate sector and its impact on the stability of the financial system of Ukraine

The article deals with the economic essence of accounts payable. It is determined that in the process of deformations in the structure of business capital, it acquires the characteristics of a surrogate source of business financing, which in turn creates risks for the stability of Ukraine’s financial system. The authors describe the main trends in the dynamics and structure of accounts payable and define its impact on the growth of debt burden of non-financial corporations in Ukraine at the aggregate level. A comparison of the volume and growth rates of accounts payable in Ukraine and the EU countries is made, which allows to confirm the hypothesis of the introduction of a distorted model of business financing in Ukraine’s corporate sector. The authors point out that one of the reasons for the abnormally high debt dependence in the NFC sector at the aggregate level is the replacement of equity with other current liabilities (including financial loans from associated physical and legal entities), which allowed to establish such a flexible capital structure, which can help rapidly withdraw assets abroad in the event of macro-financial destabilization or other threats of capital loss related to the insecurity of property rights and the prevalence of fiscal voluntarism in Ukraine. The authors conclude that with the overload of balance sheets with short-term debts against the background of a significant reduction in equity leads to a rapid loss of financial stability. At the same time, under the influence of restrictions on activities and other concomitant barriers to doing business due to the global coronavirus pandemic, the financial depletion of the non-financial corporations sector could lead to a wave of corporate bankruptcies. It is concluded that under the influence of narrowing business access to capital in the financial market there is a rapid increase in lending to domestic business by nonresidents, which gives grounds to conclude that in this way domestic business lends itself, using funds previously withdrawn abroad. Further development of these trends not only can be a catalyst for financial imbalances at the level of individual enterprises, but can also provoke a crisis in the foreign exchange market. The authors substantiate that one of the ways to reduce the volume of current debt obligations is to assist the government in transforming the companies’ short-term liabilities into long-term ones. This can be done by converting the companies’ current liabilities into long-term bonds on a voluntary basis using simplified procedures for registration of their issue, and by registering current liabilities to suppliers (for goods and services) as long-term promissory notes.

КОРОТКОСТРОКОВА ЗАБОРГОВАНІСТЬ КОРПОРАТИВНОГО СЕКТОРА ТА ЇЇ ВПЛИВ НА СТАБІЛЬНІСТЬ ФІНАНСОВОЇ СИСТЕМИ УКРАЇНИ

The article deals with the economic essence of accounts payable. It is determined that in the process of deformations in the structure of business capital, it acquires the characteristics of a surrogate source of business financing, which in turn creates risks for the stability of Ukraine’s financial system. The authors describe the main trends in the dynamics and structure of accounts payable and define its impact on the growth of debt burden of non-financial corporations in Ukraine at the aggregate level. A comparison of the volume and growth rates of accounts payable in Ukraine and the EU countries is made, which allows to confirm the hypothesis of the introduction of a distorted model of business financing in Ukraine’s corporate sector. The authors point out that one of the reasons for the abnormally high debt dependence in the NFC sector at the aggregate level is the replacement of equity with other current liabilities (including financial loans from associated physical and legal entities), which allowed to establish such a flexible capital structure, which can help rapidly withdraw assets abroad in the event of macro-financial destabilization or other threats of capital loss related to the insecurity of property rights and the prevalence of fiscal voluntarism in Ukraine. The authors conclude that with the overload of balance sheets with short-term debts against the background of a significant reduction in equity leads to a rapid loss of financial stability. At the same time, under the influence of restrictions on activities and other concomitant barriers to doing business due to the global coronavirus pandemic, the financial depletion of the non-financial corporations sector could lead to a wave of corporate bankruptcies. It is concluded that under the influence of narrowing business access to capital in the financial market there is a rapid increase in lending to domestic business by nonresidents, which gives grounds to conclude that in this way domestic business lends itself, using funds previously withdrawn abroad. Further development of these trends not only can be a catalyst for financial imbalances at the level of individual enterprises, but can also provoke a crisis in the foreign exchange market. The authors substantiate that one of the ways to reduce the volume of current debt obligations is to assist the government in transforming the companies’ short-term liabilities into long-term ones. This can be done by converting the companies’ current liabilities into long-term bonds on a voluntary basis using simplified procedures for registration of their issue, and by registering current liabilities to suppliers (for goods and services) as long-term promissory notes.

Effectiveness of integrated management of secondary resource flows in the construction industry

Problem statement.The solution to the problem of the integrated use of secondary construction resources should be considered in the context of the spread of the world practice of using, processing and reclaiming all valuable waste as secondary resources. This is due to profound changes in the world economy associated with limited natural resources, threats to environmental and social security, an increase in the amount of waste and man-made landfills.The process of managing the flows of secondary resources should be aimed at achieving economic and environmental effects, the definition of which has certain characteristics for various stakeholders in this process: (producers of building materials (waste recyclers), developers (construction companies and organizations), the construction industry (at the regional level, countries).The application of world experience in the use of secondary resources in the construction industry can become the basis for the development of infrastructure for obtaining secondary raw materials from construction waste and attracting them into re-circulation, which will make it possible to more effectively implement the National Waste Management Strategy until 2030, adopted by the Government of Ukraine.The goal of the strategy is to introduce a systematic approach to waste management at the state and regional levels, to reduce the volume of waste generation by increasing the volume of their processing and reuse. Purpose of the article: substantiate the effectiveness of the use of tools for integrated management of secondary resource flows in the construction industry and propose an economic and mathematical model for optimal management of construction waste flows at the level of individual enterprises of the industry in the region. Conclusion. The toolkit for managing waste streams in the construction industry includes information (including statistical, monitoring), analytical, predictive tools for managing the flows of secondary resources. We consider the creation of a unified system of integrated management of the flows of secondary resources (materials) as a condition for decision-making and the effectiveness of the overall management of waste streams in the construction industry, the main goal of which is to achieve a cumulative economic effect from attracting construction waste to a repeated production cycle.The effectiveness of the use of tools for complex management of the flows of secondary resources in the construction industry has been substantiated and a method is proposed for its determination, on the basis of a mathematical model for solving the problem of optimal management of flows of construction waste at the level of enterprises are waste producers, enterprises-processors (producers of building materials from secondary raw materials), the construction industry of the region. Keywords: building sector; integrated management; secondary resource streams; economic efficiency;performance criteria; management tools