Participants In Economic Relations Research Articles

DEVELOPMENT OF THE VALUE BASE MANAGEMENT CONCEPT AND ITS ROLE IN MAXIMIZING THE VALUE OF THE CORPORATE ENTERPRISE

The purpose of the study is to critically review and summarize the main world approaches to building Value Base Management and to substantiate, on this basis, recommendations for its implementation in the domestic practice of financial management. The article describes the evolution of VBM development and conceptual approaches to corporate enterprise management. The objective necessity of transforming approaches to the management of corporate enterprises from traditional financial models to value-based management is substantiated. It is established that VBM is not only one of the main directions of improving the efficiency of management decisions, but also has a significant impact on the value of a corporate enterprise in the long term. The article proves that the use of the value-based concept of enterprise financial management implies the selection of appropriate methods and tools at all levels of management aimed at sustainable value reproduction. 
 The article considers the process of transformation of the VBM concept and its main elements. A comprehensive analysis of the main approaches and models to business valuation is presented. A comparative characterization of VBM and the traditional approach to corporate enterprise management is systematized and provided. 
 The generalization of the economic content of management theories has allowed to substantiate that VBM differs significantly from the previously accepted management criteria and is a more effective concept of equity management than other systems. It should be borne in mind that the value of an enterprise, on the one hand, is an indicator of its sustainable development, and on the other hand, it is a regulator of value distribution for various participants in economic relations, so, of course, the management mechanism should focus on the key factors of value creation

Поведінка фінансових ринків в експериментальному економічному аналізі

Behavioral aspects play an important role, and an experimental analysis of financial markets allows studying the psychological and behavioral factors that are affecting participants. The aim of the article is to analyze the interaction of financial market participants in a controlled experimental environment in order to identify and reveal the peculiarities of their behavior, strategies and mutual influence. The information base of the research is official information and scientific publications. Research was conducted using the following methods: monographic; analysis, synthesis, induction, deduction; system analysis. Systematic changes in consumer demand, production and other spheres of economy determine not only household habits, but also affect decision-making by participants in economic relations. The identified calendar anomalies indicate that economic entities react to time factors and seasonal changes, which is important for management and forecasting strategies. Price bubbles are an expression not only of objective market conditions, but also of psychological and socio-cultural influences on the behavior of market participants. Understanding and predicting price bubbles requires a comprehensive approach that combines economic, psychological and social aspects. This will allow more accurate analysis and management of risks associated with price fluctuations and their possible consequences for economic stability. As part of the experimental economic analysis, it is found that calendar and seasonal effects play a significant role in the formation of economic trends. The study of the phenomenon of price bubbles and adaptive expectations in experimental economic analysis reveals deep structures of market dynamics.

Financial conflicts as a threat of weakening the financial security of business entities in Ukraine

The article examines the economic content of financial conflicts, their impact on the financial security of economic entities. Financial security is highlighted from the point of view of an important element of economic security of business entities. Financial conflict is defined as a confrontation between participants in economic relations, which appears in the process of their economic activity as a result of a mismatch of goals, benefits and the long-term goal of functioning. In order to more thoroughly illuminate the internal nature of the conflict in the field of finance, its key components and characteristic features are highlighted. The main causes of financial conflicts of business structures are determined. The key factor in the emergence of corporate conflicts was determined to be the separation of the owners from the management of the company, as a result of which there was a significant separation of interests between these parties. It is proposed to use value-oriented management tools to resolve financial conflicts. Tax conflicts and conflicts arising in the field of financial management are analyzed. The main prerequisites for solving financial contradictions in the functioning and development of enterprises in Ukraine have been determined. The economic essence of compliance as the construction of a risk management system, which will make it possible to ensure an increase in the level of compliance with the economic and financial legislation of the country, an increase in the degree of corporate culture in society and the formation of a favorable business climate in the country, which will help attract investment resources and increase the income of the country's budget system, is highlighted. The main component of tax compliance is determined - the study of risks in the field of taxation that arise in the event of taxpayers violating tax legislation and causing losses to the state. It is proposed to build an effective tax compliance system in order to strengthen the financial security of the country, which is characterized to a large extent by tax security, that is, the receipt of taxes and fees to the budgets in the projected amount and the creation of prerequisites for its growth.

МАКРОЕКОНОМІЧНЕ МОДЕЛЮВАННЯ В УКРАЇНІ НА ОСНОВІ ПОВЕДІНКОВОЇ ЕКОНОМІКИ

The article examines the problems of macroeconomic modeling in Ukraine in the context of the application of functional approaches of behavioral economics. At the same time, behavioral economics is defined as a new direction aimed at researching rational and irrational aspects of economic decision-making in the field of macroeconomic regulation and their impact on economic phenomena. The method of taking into account these aspects in macroeconomic models to ensure a better understanding of economic processes in Ukraine is analyzed. A methodological approach to modeling based on the theory of behavioral economics is considered. An analysis of the key elements that influence the decision-making process in the conditions of a market economy, as well as the peculiarities of their interaction with traditional macroeconomic factors, was carried out. The importance of taking into account individual psychology, social networks and other modern functional factors that can influence the economic decisions of the population and business entities is determined. The possibility of applying behavioral economic concepts to develop more accurate forecasts of economic development, in particular, to improve state economic policy, has been studied. It was determined that taking into account the irrational aspects of making economic management decisions can help to avoid their negative consequences and increase the overall level of stability of the national economy of Ukraine. The current state of macroeconomic modeling in Ukraine is analyzed and its main challenges are highlighted. On the basis of taking into account the specific features of the Ukrainian economy, the need to consider models that would take into account transformational processes adapted to the real conditions and features of economic activity in Ukraine was determined. It has been found that the implementation of behavioral aspects in macroeconomic strategies can contribute to reducing instability, improving forecasts and generally increasing the level of trust of participants in economic relations. The objective necessity of integrating behavioral aspects into modern macroeconomic models has been proven in order to achieve a more accurate and deeper understanding of economic processes in Ukraine, as well as to ensure effective management of the country’s economic development in the context of its post-war reconstruction.

Reserves as a Terminological System of Economic Analysis

Socio-economic conditions of functioning of economic entities are determined by changes in the internal and external environment, limited and inaccessible resources, multidirectional requests of participants in economic relations. This leads to the need to introduce tools for more cost-effective and efficient management of activities in the short and long term. The purpose of the study is a comprehensive study of such tools for improving the efficiency of an economic entity as the search, identification, mobilization and implementation of reserves. The author used such scientific methods as analysis, synthesis, comparison, as well as systematic and logical approaches. Based on the analysis, the following results were obtained: the concept of «reserves» is defined as a polysemic term widely used in both economic and other scientific fields; a set of characteristics of reserves is justified in relation to the tools for improving the efficiency of an economic entity. It is also proved that at present reserves should be considered as a means of ensuring the reliability of the system’s functioning, under the condition of a deep and comprehensive study of its activities, highlighting its phenomenological features as the basis of the policy of searching, identifying, and implementing reserves. The continuity of analytical work in the field of improving the efficiency of economic entities of various types is substantiated. The leading role of the works of the professor at the Moscow Financial Institute (in the present century — the Financial University) S.B. Barnholz in the methodological justification and practical implementation of the search, identification and mobilization of reserves is reflected. The possibility of further development of the ideas and experience of the Soviet period during the construction of an economic entity’s performance management system is shown. Approaches to the classification of reserves as socio-economic instruments for improving the quality of the functioning of the economic system are substantiated. The key directions of developing a methodology for searching, identifying and mobilizing reserves are highlighted, for which it is proposed to use a standardization tool. The value of its application to analytical procedures is revealed both to improve the efficiency of the functioning of an economic entity and to improve communication with internal and external stakeholders.

Parties of the shareholder agreement

The article is devoted to the composition of the parties in the shareholder agreement. The legal status of the shareholders and other parties of the corporate agreement is being investigated.It is emphasized that a narrow understanding of the corporate contract was established in the doctrine of corporate law for a long time, according to which the parties to the shareholder agreement can only be shareholders of the company (all or several).It is noted that the potential parties of the shareholder agreement are the participants of a corporate-type legal entity who possess the appropriate number of corporate rights in relation to it. They can be business entities, other participants in economic relations (consumers, state authorities and local self-government bodies endowed with economic competence, as well as citizens, public and other organizations), who act as company’s founders.Attention is drawn to the fact that the subject composition of the corporate agreement has been expanded in the new Corporation Act: a shareholder agreement is an agreement under which the company’s shareholders undertake to exercise their rights and powers in a certain way or refrain from exercising them. At the same time, the joint-stock company (corporation) itself and third parties can also be additional parties to the shareholder agreement.It is emphasized that today the approach to understanding the shareholder agreement in a broader sense has been established.The author concludes that the parties of a shareholder agreement are: 1) shareholders and other participants in internal corporate legal relations: the company, members of the board, supervisory board or corporate secretary. Thereby, the prerequisites are created for the construction of such a structure of corporate governance at an individual company, which will best meet the requests of all groups of stakeholders (shareholders, the company, creditors, officials of management bodies); 2) participants in external legal relations, i.e. relations that arise in the course of the corporation’s business activities.

Проблемы государственного регулирования посреднической деятельности в сфере оборота недвижимого имущества

In modern conditions, the acuteness of the problems of legal regulation of real estate development activities and immovable property turnover is significantly increasing due to the unprecedented number of judicial (but not legal), economic, and other sanctions imposed on our country, repeated attempts of its political and eco-nomic isolation, as well as the increased legal and economic uncertainty for the participants of economic rela-tions in connection with the Special Military Operation conducted by the Russian state and its consequences for the Russian Federation. The attempt to substantiate the assessment of state regulation of the entire real estate turnover and the segment of intermediary services in it, in particular, is of interest. A historical approach is used to analyze the means of state influence on intermediaries providing real estate services. The authors actively apply the method of comparative law when considering a set of legal means suita-ble for use in the process of state regulation of the sphere of intermediary services in transactions with real es-tate objects.

Кредитные риски и их влияние на деятельность коммерческого банка

Banks in modern conditions are one of the main components of a market economy, since it is precisely through their activities that any economic activity carried out both in the financial system and in other areas of the market economy can be organized. Most types of banking activities are carried out under the influence of various types of risks, which most often negatively affect not only the results of banks, but also their very condition. For this reason, actions during which the search, control and management of all types of banking risks are carried out are necessary for most of the participants in economic relations between banks and other market entities. Credit risk is currently the main type of banking risks involved in lending activities. For this reason, the level of efficiency of all banking activities largely depends on the quality of this risk management. The article will analyze the essence of credit risks and their impact on the activities of commercial banks.

Ризики монетарної політики: “нова реальність”

Introduction. The COVID-19 pandemic has forced central banks to make a significant correction of their monetary policy, which has been discussed in many academician publications. At the same time, much less attention has been paid to the question of the risks that arise. Problem Statement. The coronavirus pandemic was the first wave of new disruptive forces that created new and seriously exacerbated some existing risks, including economic ones, and, in particular, those that arise during the implementation of monetary policy, or significantly affect it. Further events caused by the full-scale invasion of Russian troops into Ukraine became the second wave, which became felt throughout the world and only cemented the state of the “new reality”. Purpose. Analysis and systematization of existing risk assessments that arise in connection with the modification of monetary policy in response to the threat of the COVID-19 pandemic, independent identification of additional risks and a comprehensive qualitative assessment of the degree of threats arising from these risks. Methods. The methodology of the system approach, factual, situational analysis and synthesis, and the event analysis method, which is traditional for analyzing whether the relevant event has a significant impact on a certain activity (in our case, monetary policy), were used. Results. The “new reality” caused by the coronavirus pandemic and established by the full-scale invasion of Russian troops into Ukraine led to the emergence of a number of macroeconomic risks that were a direct result of these events (“panic risk”) or its consequences, caused not so much by, for example, the pandemic itself, but ill-conceived, sometimes inadequate anti-pandemic measures resorted to by governments and, to a lesser extent, monetary authorities (risks of economic crisis and stagflation). At the same time, the triggers of these macroeconomic risks, in addition to panic, were some specific financial risks (credit, currency, interest), insufficient attention to the manifestation of which in the conditions of the “new reality” led to the emergence of a serious systemic risk in some countries. In general, however, it was possible to keep the situation under control, which, however, forced the fiscal and monetary authorities to take extraordinary measures. Conclusions. The coronavirus pandemic caused serious upheavals in the field of monetary relations and created new and increased traditional risks for actors in this industry (which, to one degree or another, includes all participants in economic relations). However, considering the qualitative side of the problem, it can be indicated that the mentioned risks are divided, first of all, into i) risks for monetary policy itself and ii) risks arising from the conduct of monetary policy, which pose threats to the relevant sectors of the economy (most often , for the financial and banking system) and return to the monetary authorities in the form of new challenges that will require a certain correction of their policy in the field of monetary relations.

Recognition of protected areas as legal entities as a way to stop protected area genocide

The definition of protected areas as legal entities is not defined at the legislative level, which significantly reduces the range of tools for protecting the corresponding territories from abuses and loopholes in the current legislation regarding the scope and methods of utilizing their natural potential. The study focuses on an analysis of the concept of the “legal personality” of protected areas in Ukraine, considering the requirements of current legislation to address the restoration and protection of the rights of the protected areas through judicial and extrajudicial procedures. For a comprehensive analysis of market dynamics with minimal variations between studies, a quantitative literature review, including meta-analysis, was conducted. The main directions of post-war market revival were identified and the feasibility of adapting these strategies to the Ukrainian economy was evaluated using a comparative method. The research asserts that granting legal personality status to protected areas would contribute to the protection of their rights, as it would enable their identification as independent participants in economic relations and provide them with the necessary mechanisms to protect their territories. The necessity of introducing the concept of “legal personality” at the legislative level for protected areas is substantiated, which would not only help identify the most violated rights of protected areas but also promote increased investments in this sector. The practical significance of the study is determined by recommendations regarding the legitimizing protected areas as legal entities and having a clear normative and legal basis would ensure the establishment of a transparent form of judicial and extrajudicial protection and restoration of violated rights of protected territories.

General theoretical analysis of legal security of business activity

Effective legal means of regulating relations between business entities and preventing violations of the latter's rights and interests protected by law include compliance by the participants of business relations, including business entities, state authorities, etc., with the requirements of current legislation. That is, such a legal regime is desirable, within which the best way to protect the rights of business entities is to prevent violations of the rights of these entities and, as a result, the absence of the very need to renew rights.
 It is clear that such a preventive influence on the behavior of business entities is the result not only of the conscientious behavior of the participants in economic relations, but, most likely, the consequence of the regulatory influence on the behavior of these entities of the norms of current legislation, which contains binding, prohibitive and other legal prescriptions (requirements), the existence of which is aimed at preventing violations of the rights and legally protected interests of business entities and restoring these rights and interests in cases of their violation, non-recognition or dispute.
 The need to protect subjective rights and interests arises primarily in connection with illegal behavior. However, protection can also take place in the event of a threat of violation of the right in the future, which may not always be considered illegal behavior.
 The threat may arise due to the actions of the right holder himself, for example, in connection with the loss of the corresponding document. Defense is also allowed in case of violation of interest by non-illegal behavior. A person can apply to the court for protection in the event of a conflict between his interests and the interests of other participants in the legal relationship, and even when the behavior of each of them is lawful.
 The subject of research in the article is specific norms of constitutional, civil, economic and administrative law, which establish legal guarantees of ensuring and protecting entrepreneurial activity by the norms of national law.

Business Ecosystems and Human Potential: Interrelation and Legal Regulation

The subject of the study is the impact of business ecosystems on human potential. The purpose of the work is to establish the procedure for regulating the activities of business ecosystems. The article examines the categories of business ecosystems, their impact on the development of markets for goods and services. Based on a survey of users of such major Russian business ecosystems as Yandex, Wildberries, Beber, etc., the most significant positive and negative aspects of the life of business ecosystems for participants in economic relations have been identified. The most optimal approaches to their regulation are determined based on the analysis of the results of a survey of users of business ecosystems and the activities of the largest Russian companies. It has been established that the level of efficiency, productivity and growth potential is significantly higher in the business ecosystem than in standard format enterprises, and the degree of its competitiveness in the eyes of consumers is significantly higher, i.e. ecosystem-specific features affect the expansion of human potential. It is determined that the formation of business ecosystems has significantly expanded human potential. An important element peculiar to ecosystems and affecting the capabilities of the enterprise is shown — technological equipment, which allows, on the basis of multifunctional Internet platforms, to personalize the approach to the relationship between the enterprise and consumers of its products as much as possible, making them more stable. Conclusions are drawn about the need to expand self-regulation of business ecosystems.

Problems of implementation and protection of the rights of participants in economic relations in the conditions of the digital divide

The article considers the use of digital technologies in most areas of business activity in the light of the global characteristics of post-industrial society - the technologization of most areas of human life. The author explores one of the most pressing issues of the digital era – the growing digital divide (from the English digital divide), or digital inequality in terms of access to information technologies and their use in economic, including procedures for protecting the rights and legitimate interests of subjects of the digital economy. There is a destructive sign of the modern digital divide - the lack of digital literacy, knowledge or problem-solving skills to perform tasks in a digital environment. It is concluded that research in the field of law should not ignore the consequences of digital inequality: the disadvantage of small and medium-sized businesses in legal relations with large technology suppliers, the inability to assess contractual conditions due to overloading with technological terminology, damage due to inadequate assessment of security risk, neglect of cyber hygiene requirements, and others. Overcoming the digital inequality of the parties when using online mechanisms for the protection of rights and legitimate interests excludes a purely technocratic approach and complies with the rules of fair trial.

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The key priority of the country's economic development is the effective and rational use of the available resource potential and gradual entry into the international market zone. The modern international space during the period of active development of globalization processes recognizes the leadership in the competition not for countries that have a large amount of natural resources, but for countries that prioritize business and the processes of its reproduction, market mechanisms for supporting entrepreneurial activity, effective use of science, systems knowledge and information technologies. Entrepreneurship is a source of sustainable economic growth, social stability and ensuring employment in the country, which directly affects the improvement of the level and quality of life of the population. Stabilization and growth of the economy is impossible without business development, which requires the development and application of effective mechanisms for supporting entrepreneurship in the country. The main goal of state policy in this direction is the coordination of the actions of all subjects interested in the development of entrepreneurship, in particular, authorities at all levels, subjects of entrepreneurship, associations and unions of entrepreneurs, science, institutions of market infrastructure, as well as the formation and implementation effective state-public system of its maintenance, support and protection. In the case when the economic independence of regions is expanding, the role of business for regional development is defined in a new way. But the lack of proper support of entrepreneurial structures from the interested participants of economic relations creates a number of problems regarding their effective functioning. Entrepreneurship is an important sector of the economy, which acts as a locomotive for the functioning of the entire system of socio-economic relations. The place and role of the state in such circumstances is not in doubt, because the state policy in the field of business should be aimed at creating an appropriate platform for increasing its competitiveness and dynamic growth. In connection with this, there is a need for the basis of priority directions and approaches to the formation of such a policy, the focus of effectiveness of which is localized on ensuring the competitive status of entrepreneurial formations of all organizational and legal forms. Key words: administrative activity; entrepreneurship; economic development; leadership; management; a mechanism for supporting entrepreneurial activities; regional level; competitiveness of the economy.

ІДЕЯ СПРАВЕДЛИВОСТІ У ГОСПОДАРСЬКОМУ ПРАВІ

Through the prism of the Ukrainian legal tradition, the article substantiates the axiological importance of the category of justice as a value invariant in the legal regulation of economic relations in Ukraine in modern conditions and the immanence of ideas of justice in Economic law. Attention is drawn to the fact that Ukraine has its own legal tradition, which is historically deeply rooted in the European legal tradition and inherited by the Constitution of Ukraine of 1996. The declaration of the principle of the Rule of Law in Ukraine, which is an element of the common heritage of the member states of the Convention for the Protection of Human Rights and Fundamental Freedoms, determines the fundamental value status of the idea of justice in the legal system of modern Ukraine. The general purpose of the functioning of the legal system of Ukraine is derived from the content of Article 1 of the Constitution of Ukraine — it is the development of Ukraine as a sovereign, independent, democratic, social, legal state. Attention is drawn to the fact that until now neither the foundations nor the principles of Economic law have been fixed in the Economic Code of Ukraine as the main act of economic legislation, although they should form the basis of the structure of all acts of economic legislation, be the basis for the interpretation of legal norms of all acts of economic legislation in the rulemaking and serve as a mean of overcoming legal conflicts and gaps in Economic law, including through the prism of justice. It is determined that the idea of justice — both in the subjective (as the integrity of a person) and objective meaning (as social justice) is already explicitly included in the normative substance of the Economic Code. The importance of the implementation of the idea of social justice in the norms of Economic law is determined by the essence of the relations that are regulated by these rules. In contrast to purely civil relations as the subject of regulation of the Civil Code of Ukraine, as well as purely public legal regulations based on the principles of power — subordination, the object of economic legal regulation is a complex system of relations defined in Article 3 of the Economic Code. Such general foundations of civil legislation as justice, good faith and reasonableness (Clause 6 of Article 3 of the Civil Code), which embody subjective justice as the integrity of participants of civil relations, should show their regulatory potential in the economic sphere. Attention is drawn to the fact that legal support of the social market economy has never been part of the goal of civil legislation, which (the goal) is not generally defined in the Civil Code. The implementation of social justice in the economy of Ukraine and Economic law is determined by the declaration of Ukraine as a social state, accordingly, the economic function of the social state should be ensured by Economic law. The article supports the scientific position that the feature of the social state is ensuring the compliance with the principle of justice in the process of managing the economy. The problem of understanding the necessity and legal forms of state management is among those that are especially acute in the period of social transformations in the society. However, at any time, the state shall solve the task of performing “general affairs” in the society and regulating relations in an asymmetric society, which is characterized by economic inequality of its members. If the cornerstone for Civil law is the legal (formal) equality of the parties, then for Economic law it is fundamentally important to smooth out the actual (economic) inequality of the participants of economic relations and to ensure differentiated equality. It is concluded that it is impossible for the state to fulfil its obligations to the society without the use of appropriate legal means that go beyond private law, and the very idea of justice shall be developed in all sub-branches and legal institutes of Economic law.

DIGITAL TRANSFORMATION OF THE FINANCIAL MARKET: RISKS AND OPPORTUNITIES

The introduction of modern digital technologies into the practice of financial market entities contributes to the resolution of contradictions in economic relations between suppliers and consumers of financial products by forming a local compromise. The digitalization of financial services helps to increase the physical and tariff accessibility of financial services, reduces the costs of a financial company to expand its client portfolio. However, it should be noted that the production, sale and consumption of digital financial services and the digitalization of business processes of financial companies are associated with additional risks for all participants in economic relations.
 Purpose. Study of opportunities and risks of forming an effective financial strategy for a consumer of financial services in the context of digital transformation of the financial market.
 Methods and methodology. The article used the methodology of conflict-compromise management of economic relations, the general theory of risk, as well as content analysis of the literature on the research problem.
 Results. Results were obtained that confirm the hypothesis that the digitalization of various business processes in financial companies will lead to an increase in the process of disintermediation, which will inevitably lead to the transformation of traditional business models of companies, a revision of the factors affecting the formation of profits of financial companies, and for consumers of financial services to the need to form patterns of responsible financial behavior in the context of financial market transformation.
 Practical implications it is advisable to apply the results obtained by economic entities involved in the formation of functional strategies of companies.

Inflation in Russia: revealing the causes and the path of decline (on the strategic management platform)

In this study, it is proposed to conduct an experimental monetary reform in one of the regions of Russia. To carry out monetary reform by introducing a fee for the use of funds in the balance at the end of the month of each of the participants in economic relations. The purpose of the new monetary reform is to achieve the reduction of inflation to zero. This study is based on observations and practical experience of European countries, China. In this paper, the author believes that monetary inflation is caused by money added during distribution in different ratios. As the root cause of inflation, interest is singled out as one of the components added during the distribution of money, which generates a social conflict regarding the redistribution of public wealth. The experimental monetary reform may be the beginning of other reforms and a component of Russia's economic development within the framework of strategic management. The advantages of monetary reform of the natural economic order in combination with other reforms are as follows: reduction of inflation (almost to zero), which is caused mainly by a significant percentage component of the distributed funds; exclusion of percentages from the cost components and, as a consequence, prices as an instrument of income redistribution in an unfair way, i.e. accumulation of most of the income from a small group of individuals, and in amounts larger than they need; prevention of social catastrophe, prevention of social unrest and social clashes, reduction of the level of aggressiveness in society and the onset of social justice; reduction of prices for goods and services up to 50%; the emergence of a stable nationally-oriented quality economy; the possibility of updating physically and morally worn out fixed assets of public infrastructure; GDP growth.

ПАНДЕМІЯ COVID-19 ЯК КЛЮЧОВИЙ ФАКТОР РОЗВИТКУ СТРАХУВАННЯ ВІД DDOS-АТАК

The COVID-19 pandemic was a turning point for all participants in economic relations. The insurance market has faced new challenges related to the format of cooperation with clients changing, as well as the transformation of clients’ business. Remote work has identified threats that can not only stop the industry but also destroy it. One of the examples of such threats is DDoS-attacks, targeted at stopping the computer systems of the victims of the attack. In 2021, the share of organizations that suffered losses after DDoS-attack increased to 86.2 %, 9 pp more than before the COVID-19 pandemic. IT administrators sometimes don’t notice the consequences of attacks, so they can’t assess the state of their business entirely. Cybersecurity experts should be involved in this monitoring, but often they only restore IT systems, without compensation. The set of services in cyber-insurance policy consists of: monitoring the client’s IT systems, providing recommendations for its improvement, assistance in case of DDOS-attack, payment of compensation, and restoration of reputation. Therefore, DDoS-attacks insurance has become more popular during the COVID-19 pandemic. The volume of the cyber-insurance market grew by 39 % in 2020 and reached $7 billion vs 2018. The primary insurers in this area are media and publications, as all their activities are built on Internet-based systems. The article examines the transformation of the cyber insurance market in the world before and after the beginning of the COVID-19 pandemic. The state and prospects of DDoS-attacks insurance are considered, and the necessity of developing of this type of insurance in Ukraine is proved. Recommendations are provided for the introduction of cyber DDoS-attacks insurance products in the portfolio of Ukrainian insurance companies in the context of the Digital Strategy of Ukraine 2030.

Бухгалтерська експертиза як інструмент верифікації облікових даних під час процесуальних дій

Practice shows that in the interaction process, individual participants in economic relations may deliberately not comply with legal norms, thus violating the rights of other entities. This leads to disputes, for the resolution of which the parties go to court and law enforcement agencies. In this regard, law enforcement agencies need an effective tool for verifying accounting data to detect and prevent crimes in the economic and legal sphere. The article's purpose is to substantiate the practicality of using accounting expertise to verify accounting data in legal proceedings. It has been established that the modern practice of forensic accounting expertise is a synthesis of legal and forensic concepts and in practice – methods and techniques. Since all business transactions are reflected in accounting, accounting data is the object of the study of offences of an economic nature. Accounting data are studied to identify traces of economic offences. Thus, law enforcement agencies must have knowledge of economics, accounting, economic control, which are specific to them. An examination carried out during the investigation of a civil or criminal case, when the determination of their circumstances requires special knowledge, acquires procedural features and means, in fact, an investigative action. The main task of accounting expertise is to verify the accounting data provided for research and to establish inconsistencies and contradictions in them, which in practice is proof of the disclosure of economic offences. When considering offences in the economic direction, such an accounting function as the legal protection of business entities is used.

Cooperation and accounting policies of economic entities as tools for the development of a green economy

Subject. Scientific and technological progress, mining disregarding environmental standards, throw-away economy, and other similar human activities have led to a new economic objective of environmental protection, waste disposal, and recycling. Any qualitative solution to an economic problem requires a quantitative measurement to calculate its scale and create political and organisational measures to eliminate it. State regulation and the support of a green economy means providing for and controlling the processes of enterprise cooperation aimed at waste optimisation and disposal as well as controlling waste recycling. Organisational measures include procedures aimed at the formation of cooperative ties. They also require procedures that form an accounting and analytic section, i.e. procedures for the acknowledgement, assessment, and disclosure of information about waste in financial statements. A realistic estimate and the control of waste as well as liquidation obligations related to its disposal will provide reliable information about the scale of environmental behaviour of each economic entity. Objectives. The study includes identifying tools for the development of a green economy. It proposes methods for environmental cooperation within the framework of waste-free and lean production, the development of conditions for the acknowledgement and correction of estimates of recyclable and non-recyclable waste, and methods for the efficient use of recyclable waste. Methods. The work involved the observation and generalisation of empirical data regarding the economic activities of economic entities and the study of scientific economic literature. It also used methods for the theoretical analysis of provisions of regulatory documents regarding the state control of activities in the field of environmental protection and waste management. Conclusions. The paper presents a study of different types of effective environmental behaviour of economic entities. Such behaviour requires comprehensive measures aimed at using cooperative relations between economic entities and improving the accounting policies of participants of economic relations to reduce waste and to meet liquidation obligations for waste disposal and the remediation of the environment. The proposed tools for the development of a green economy, ways of acknowledging environmental costs, their estimation, control, and saving the environment will make it possible to effectively use limited natural resources.