Financial Support System Research Articles

SYSTEMATIC APPROACHES TO ENSURING THE STRATEGIC DEVELOPMENT OF THE SPORTS AND RECREATION SECTOR

The subject of the study is systematic approaches to ensuring the strategic development of the sports and recreation sphere. Methodology. General scientific methods were used in the research, in particular: theoretical generalization; methods of positive-normative analysis and statistical analysis. The aim is to substantiate systematic approaches to ensuring the strategic development of physical culture and recreation activities in Ukraine. Conclusions of the study. Particular attention in the context of strategic development of physical culture and recreation is focused on the creation of an effective system of financial and economic support of the industry as a basic factor in the functioning of other subsystems. The financial and economic subsystem of the development of physical culture and recreation in the work is understood as a set of structural and dynamic characteristics of economic relations within the industry (between all participants in the processes of physical culture and recreation) and beyond (with government agencies, scientific organizations, foreign partners), which includes a set of certain property relations, systems of financial resources flow and management methods regulated by the relevant legal norms, embodied in organizational and economic mechanisms that allow to function effectively in a changing environment. In the context of improving the mechanisms of financial support for the development of physical culture and sports in the strategic perspective, the following elements need to be finalized and improved: the formation of state and regional financial preferences for extra-budgetary funding of physical culture and sports; settlement of issues related to the formation of funds for the development of physical culture and sports at the expense of part of the profits of domestic and foreign producers of tobacco and alcohol products; stimulation of investments (especially foreign ones) in the development of sports infrastructure; development of public-private and municipal-private partnership projects; improvement of sponsorship and patronage institutions; development of modern financial instruments that facilitate the attraction of public funds to the development of sports of higher achievements and joint investment institutions.

Innovation and Development of Guangdong-Hong Kong-Macao Capital Market Based on Fintech

The development of the capital market will face challenges. Promoting the optimization of the capital market in the guangdong-hong kong-macao (CHM) Greater Bay Area (GBA) with the development of emerging FT is not only of practical significance to the development of the GBA, but also of great significance to promoting the country's overall economic competitiveness and realizing modernization. In the context of the rapid development of FT, the practical and theoretical significance of capital market optimization in the CHM GBA is analyzed. The new generation of FT means such as big data, cloud computing, artificial intelligence, blockchain, and Internet payment are the mainstays of CHM University. Possibilities analysis of Bay Area capital market optimization offers. Based on this background, this paper conducts research on the innovative development of capital markets in CHM based on financial technology (FT).This paper mainly studies the status quo of financial support for technological innovation in the CHM GBA, summarizes the main practices of financial support for technological innovation in the three major bay areas in the world, and draws the following points: First, it is necessary to establish a ST innovation system according to the national conditions of a country. financial support system. Second, policy finance plays a guiding role in the initial stage of ST innovation activities. Third, commercial banks play an important role as a booster in technological innovation activities. Fourth, a sound credit guarantee system provides a strong guarantee for technological innovation. Fifth, developed venture capital and perfect multi-level capital market can effectively speed up the development of ST innovation.

Державна підтримка розвитку громад в умовах фінансової децентралізації

Узагальнено повноваження органів місцевого самоврядування та ресурсне забезпечення їх реалізації. Розглянуто напрями державної фінансової підтримки розвитку громад в умовах децентралізації влади. Визначено можливості економічного розвитку громад за рахунок державної підтримки. Обґрунтовано необхідність стимулювання створення та розвитку економічно спроможних громад.

Financial Support of Natural Agricultural Production in Ukraine

The processes of modern globalization and social transformations have significantly increased the priority of environmental protection, accordingly, they require the implementation of priority measures to solve urgent problems in the field of environmental protection and the simultaneous rational use of natural resources. The solution to these problems significantly depends on the system of financial support formed in the countries, as well as the established composition and volumes of funding sources and the determined directions of their use, which determines the need for a scientifically based analysis. The purpose of the work is to study the innovation activity of Ukrainian enterprises by sources of their financing and the development of practical recommendations for choosing the optimal model of influence on innovation efficiency of innovation support. The methodological basis of the research was the use of a set of general scientific and special methods: generalizations and scientific abstraction, historical-logical, extrapolation, and tabular visualization methods. Results of the research - The system of financial support for environmental protection at the current stage of the development of the economy of Ukraine was investigated. It is noted that environmental taxes should not just fill the state budget of the country, but stimulate the payer to have a positive and responsible attitude towards the natural environment. The dynamics of revenues to the budgets due to the application of environmental taxation mechanisms was studied and a conclusion was drawn regarding its effectiveness. The effectiveness of the implementation of the fiscal and regulatory functions of the environmental tax in Ukraine was evaluated. The order of distribution of environmental tax funds, as the main source of replenishment of environmental funds, was considered and the inefficiency of its use was analyzed. It was established that the environmental tax does not fully fulfill its fiscal function because the received income does not allow for fully financed environmental protection measures. The obtained results can be used as a basis for reforming the environmental tax in the direction of increasing its fiscal and effective effectiveness.

ДЖЕРЕЛА ФІНАНСУВАННЯ СІЛЬСЬКОГОСПОДАРСЬКИХ ПІДПРИЄМСТВ

The purpose of the article is to improve the theoretical and methodological principles of management of sources of financing of agricultural enterprises.
 It is noted that today the methodical provision of both analysis and the formation of an applied toolkit for improving the sources of financing the processes of functioning and development, taking into account the specifics of enterprises in the field of agriculture, is not sufficient and needs further improvement.
 The volumes and structure of sources of capital formation of agricultural enterprises of Ukraine in 2016-2020 are analyzed. The structure of sources of capital formation and use of agricultural enterprises of Ukraine in 2020 is reflected. The characteristics of the volumes and structure of equity capital of agricultural enterprises of Ukraine in 2016-2020 are provided. The analysis of volumes and structure of current liabilities and provisions of agricultural enterprises of Ukraine in 2016-2020. Conclusions were made regarding the volume and structure of current payables of agricultural enterprises of Ukraine in 2016-2020. The volumes of sold products and financial results of agricultural enterprises of Ukraine in 2016-2020 are characterized. The volumes and structure of capital investments of agricultural enterprises of Ukraine in 2016-2020 are described. The indicators of bank crediting of agricultural enterprises of Ukraine for 9 months of 2022 are described. of state support for agriculture in Ukraine in 2014-2019. Deficiencies in the financing of domestic agricultural enterprises are identified.The shortcomings of the financing of agricultural enterprises have been identified, among them: the presence of a tendency to decrease the amount of assets of enterprises; a small share of bank lending, both long-term and short-term; the presence of a tendency to decrease the profitability and profitability of agricultural enterprises, which limits their opportunities in terms of internal financing and investment; small volumes and a low share of capital investments of agricultural enterprises in intangible assets; small volumes of bank lending to industry enterprises, in particular long-term; insufficient volumes and lack of transparency of the system of state financial support for enterprises in the field of agriculture, etc.

Tax Incentives in the System of State Financial Support of Economic Entities

In crisis conditions of economic development, it is the state’s assistance to economic entities that can improve the economic situation both in the regions and in the country as a whole. The taxation system of business entities should simultaneously stimulate business development and further fill the state and local budgets at the expense of tax revenues. Tax incentives are one of the leading elements of tax policy, which in turn pursue social and economic goals. The research aims to analyze the impact of tax incentives on business entities’ functioning and develop options that improve their efficiency and competitiveness. A detailed and comprehensive analysis of the best foreign practices allowed the authors to propose a mechanism for tax incentives in the system of state financial support for business entities. The authors also provided more detailed recommendations regarding individual instruments of state tax incentives and highlighted the most important practical aspects. The proposed recommendations can contribute to the development of business and the growth of innovative activity of economic entities, which will improve the economic situation in the regions and social progress in general through filling the state and local budgets with tax revenues.

Stock Prediction Using Machine Learning Algorithms

In the recent times, the stock markets have emerged as one of the top investment destinations for individual and retail investors due to the lure of huge profits that are possible with stock investments compared to more traditional and conservative forms of investments such as bank deposits, real estate and gold. The stock markets unlike other forms of investment are highly dynamic due to the various variables involved in stock price determination and are complex to understand for a common investor. Individual and small-time investors have to generate a portfolio of common stocks to reduce the overall risk and generate reasonable returns on their investment. This phenomenon has given way too many individual and retail investors incurring huge losses because their decisions are based on speculation and not on sound technical grounds. While there are financial advisory firms and online tools where individual investors can get professional stock investment advice, the reliability of such investment advice in the recent past has been inconsistent and not meeting the rigor of quantitative and rational stock selection process. Many of such stock analysts and the tools mostly rely on short term technical indicators and are biased by the speculation in the market leading to huge variances in their predictions and leading to huge losses for individual investors. While the use of Artificial Intelligence (AI) and Machine Learning (ML) techniques is widely adopted in the financial domain, integration of AI/ML techniques with fundamental variables and long-term value investing is a lacking in this domain. Some of the stock portfolio tools available in the market use AI/ML techniques but are mostly built using technical indicators which makes them only suitable for general trend predictions, intraday trading and not suitable for long term value investing due to wide variances and reliability issues. The availability of a Financial Decision Support System which can help stock investors with reliable and accurate information for selecting stocks and creating an automated portfolio with detailed quantitative analysis is lacking. A Financial Decision Support System (DSS) that can establish a relationship between the fundamental financial variables and the stock prices that can VII automatically create a portfolio of premium stocks shall be of great utility to the individual investment community. As part of this thesis, the researcher has designed and developed a Financial Decision Support System (DSS) for selecting stocks and automatically creating portfolios with minimal inputs from the individual investors. The Financial DSS is based on a System Architecture combining the advantages of Artificial Intelligence (AI), Machine learning (ML) and Mathematical models. The design and development of the Financial DSS is based on the philosophy to combine various independent models and not rely on a single stock price model to increase the accuracy and reliability of the stock selections and increase the overall Return on Investment (ROI) of the stock portfolio. The Machine learning models are used to establish the relationship between fundamental financial variables and the price of the stock, a mathematical model is developed to calculate the intrinsic value of the stock taking in to account the full lifecycle of the stock which involves various phases and a comprehensive model to analyze the financial health of the stocks. The AI/ML stock models are independently trained using historical financial data and integrated with the overall Financial DSS. Finally, the Financial DSS tool with a graphical user interface is built integrating all the three models which shall be able to run on a general-purpose desktop or laptop. To reliably validate the Financial DSS, it has been subjected to wide variety of stocks in terms of market capitalization and industry segments. The Financial DSS is validated for its short term and long-term Return on Investment (ROI) using both historical and current real-time financial data. The researcher has reported that the accuracy of the AI/ML stock price models is greater than 90% and the overall ROI of the stock portfolios created by the Financial DSS is 61% for long term investments and 11.74% for short term investments. This system has the potential to help millions of individual investors who can make their financial decisions on stocks using this system for a fraction of cost paid to corporate financial consultants and value eventually may contribute to a more efficient financial system.

TRANSFORMATION OF GLOBAL CAPITAL MARKETS UNDER THE INFLUENCE OF MILITARY AGGRESSION AGAINST UKRAINE

The Russian Federation, which started the war against Ukraine, since February 24, 2022, has destabilized the supply of many goods and resources, and has also significantly affected financial and investment activities in the world. The scale of the conflict between Ukraine and the Russian Federation has gone beyond local wars and is becoming a new civilizational challenge. In this regard, the global economy and international capital markets are being significantly transformed, the risks of trade, economic and financial and investment cooperation in the world are under significant threat. At the same time, global capital markets entered 2022 at peak values, but the achievement of 2021 was completely leveled. The global investment environment has largely destabilized, the budgetary and business losses in the world from the war have become enormous. Global capital markets, especially the securities market, reacted very sensitively to the war in Ukraine, dropping significantly. Thus, the leading US and world index S&P 500 has fallen by 17% since the beginning of the year; The world's leading technology index, the NASDAQ Composite, is down 28% year-to-date. The European EURO STOXX 50 indices are also down 15% since the beginning of the year. At the same time, the general trends are downward, pointing to their further decline. The world's most popular and most capitalized crypto assets have also significantly lost their value, declining significantly over the last 3-4 months of 2022, reinforcing their reputation as too volatile and speculative asset. Ukrainian large companies in the international capital markets under the influence of hostilities also significantly lost their value and liquidity. Their capitalization on international stock exchanges has significantly decreased since the beginning of the war (approximately 2-1.7 times). Trends in the leading global capital markets suggest that the war in Ukraine has significantly reduced the activity of international investors in the capital markets and "appetite for risk assets." Most investors try to invest in safer assets under such conditions. The supply of many resources and goods on the world markets does not correspond to the level of demand due to the military actions on the territory of Ukraine, which in turn deforms the investment and financial global markets. Excess liquidity is transferred to goods and companies that produce corresponding scarce resources. In the future, this significantly increases the price level, intensifying inflationary processes in the world. Oil-import dependent countries are expected to face widening budget and trade deficits, as well as rising inflationary pressures. Deteriorating external financing conditions could accelerate capital outflows and exacerbate growth constraints in countries with high levels of debt and significant financing needs. Existing challenges could lead the world and global capital markets to a global debt crisis. For Ukraine, which is in a state of war, when investments have been suspended and economic processes have been reduced, significant international assistance is needed, especially financial and economic (financial technical assistance, grants, preferential loans, cancellation of public debts, etc.). In order to overcome the consequences of war and global destabilization, in our opinion, it is necessary to form an updated international system (program) of relations and fair financial and investment support, especially for Ukraine, which suffered the most from aggression, as well as for the poorest countries of the world that are experiencing significant socio-economic the problems of this war.

Green governance and its peer effect in the Yangtze River Delta region of China

AbstractThe extensive development of social economy and other fields poses challenges to environmental management in the new era. The pressure of climate adaptation and the failure of environmental regulation policies make the Chinese government seek a new environmental management model. Green governance is the foothold of connecting China's economic, social, ecological, cultural, and political construction. It is leading the updation of China's environmental governance model. Based on the connotation of green governance, a green governance analysis framework is constructed. And we take China's most developed Yangtze River Delta region as the research object. Scientific evaluation of green governance using super‐efficiency data envelopment analysis (DEA) and nonradial DEA‐Malmquist models is done. On this basis, the peer effect in green governance is integrated and analyzed, to clarify the extent to which this implicit driving force and internal political efficacy influence the final level of green governance. Research shows that cities in the Yangtze River Delta show positive green governance results. With the intensification of the degree of geographic integration, the convergence of green governance is strengthened, and the spatial agglomeration effect of green governance is characterized by the strengthening of the same group effect. The existence of spatial relationships makes local governments rely on a strong financial support system and industrial transformation foundation to counter the pressure of regional competition in green governance. With the increase of geographical distance, the peer effect of green governance tends to decline, but across the regional boundary under the provincial interaction framework, the peer effect does not disappear.

연안여객선 안전공영제 도입을 위한 정책적 제언

After the Sewol Ferry disaster, various physical and human regulatory framework such as revision of related laws and regulations and innovation of operation manager system have been strengthened and financial support system were prepared to improve the safety of coastal passenger ships. However, despite many of these institutional improvements and financial support decisions, the safe operation of coastal passenger ships is not guaranteed. This study was carried out to find one promising way to ensure the safe operation of coastal passenger ships. As a result of the study, it was concluded that “there is a need for the introduction of Safety Public Service System of Coastal Passenger Ships.” The Safety Public Service System proposed in this study is a system in which the government bears or supports some or all of the costs in order to ‘promote the safety of the people’ and ‘promote the people’s right to move’ using coastal passenger ships. Thus, it is thought that there is a need to enact a separate special law for the Safety Public Service System. The reason for this is first, where relevant individual laws and regulations are revised little by little to make the legal base, there could be a great possibility that the legislative purpose would not clearly come out and it would not work properly in reality. Therefore the process of clearly declaring the legislative purpose and the purpose of the ‘Safety Public Service System’ through enacting a special law is necessary.Second, there are many concepts needing an accurate definition thereof in the ‘Safety Public Service System’. Concepts such as 'safety', 'safety public service system', 'safety cost', etc. can be sociologically explained, but legally, these are terms requiring precise definition. Therefore, unless relevant terminologies are separately arranged in the existing Marine Transportation Act and Harbor Act, etc., when they suddenly appear in individual articles, there is a great risk that they may not be properly interpreted or narrowly reduced in the enforcement decree or ordinance. In particular, in the case of items accompanying the budget, and the scope of the subject is not clearly defined in the law, it is highly likely to become meaningless concept in reality. Thus, it is necessary to clarify the definition of the concept in a separate special law. Third, in the extension of the recent discussion on constitutional amendments, which emphasized the state's constitutional obligations to ensure individuals' right to safety, the National Assembly and the government, which are components of the state, should clearly declare their willingness to ensure safety of the people internally and externally. Furthermore, from the point of view of making it clear that the State is faithfully fulfilling its responsibility for a safe society, it is thought that enacting a special law for the introduction of the ‘Safety Public Service System’ of coastal passenger ships rather than revising individual laws is a more reasonable way. The budget required to implement this system is approximately KRW 24.1 billion per year. By creating the Safety Public Service System it is worth implementing and enforcing in the viewpoint of a single large-scale coastal passenger ship disaster can be prevented. Today, securing the people's right to safety is recognized as a role that should be given the highest priority among the national responsibilities. Therefore, it is thought that the introduction of the Safety Public Service System to promote the safe operation of coastal passenger ships and the national financial support required for its implementation are meaningful in terms of fulfilling the national responsibility for the Sewol Ferry disaster.

Perspectives of Post-Industrial Towns and Landscape in Eastern Slovakia—Case Study Strážske

This study examines the impact of socialist industrialisation from the 1950s to 1989 and deindustrialisation from 1989 on urban development and landscape transformation in Strážske—the former centre of the chemical industry in Eastern Slovakia. We focus on contemporary challenges: the emergence of brownfields, environmental burdens, and urban shrinkage, to propose strategies for creating a sustainable and resilient shrinking town of Strážske. We have divided the methods and results into two sections: the first is the mapping of urban and landscape development, brownfields, and environmental burdens, and the second is the proposal of perspective strategies for brownfield redevelopment. The study combines morphological research, field survey, data analysis and literature review. The results confirmed that socialist industrialisation was a determining factor in urban growth and landscape transformation, as well as the negative impact of chemical production on the environment and the emergence of brownfields. In the second stage of results, four proposed scenarios are portraying the possible strategies for brownfield redevelopment regarding sustainability and resilience. The results can serve as a non-binding spatial planning document for the local government of Strážske. However, especially for shrinking cities, it is necessary to create a systematic legislative and financial support system from the state, as well as a change in spatial planning legislative and methodology.

FINANCIAL PROVISION MANAGEMENT FOR THE ENVIRONMENTAL PROTECTION OF THE TRANSBORDER REGION

The aim of the article is to conduct a comparative analysis of the Volyn region (Ukraine) and Lublin Voivodeship (Republic of Poland) environmental protection financing. As well as to determine the level of partnership participation in the financing of the environmental measures within the cross-border region. The system of financial support for environmental protection in the cross-border region is explored in the article. The content of the transboundary natural resources management mechanism is considered. The main sources of funding for environmental measures in the Volyn region and Lublin Voivodeship are identified. A comparative analysis of the dynamics and structure of current costs spent and capital investments for the environmental protection of the Volyn region and Lublin Voivodeship is carried out. It is determined that the structure of environmental protection expenditures within the cross-border region is dominated by costs spent on the protection of water resources, air, waste management, and biodiversity conservation. Linear trend models were built for the amount of funding in Volyn Oblast and Lublin Voivodeship using the trend forecasting methodology. The forecast of the dynamics of the environmental protection financing within the cross-border region for 2022-2023 is determined by the method of extrapolation.Determination of the degree of cooperation in the field of transboundary natural resources management and the division of responsibilities between its key players are important aspects of the financial model’s effectiveness. The degree of cooperation in the field of transboundary natural resources management, including independent control, dialogue, cooperation, coordination mechanisms and joint management is revealed in the article. It has been proved that the cross-border relations within the Volyn region and the Lublin Voivodeship are at the level of cooperation. But it is noted that efficiency will be achieved only at the level of joint cross-border management in this area. The main tools of integrated management of financial support for environmental protection are identified. The distribution of partnership participation in the financing of environmental measures is proposed depending on their location in the border areas of Volyn region and Lublin Voivodeship.

Forecast-planning system of financial support for the development of industrial enterprises

The aim of the article is to develop a forecast-planned system of financial support for enterprise development based on approaches to forecasting factors influencing the need for financial resources to ensure enterprise development and planning financial support for enterprise development. In order to ensure high-quality and accurate forecasting of external and internal environmental factors necessary for further planning and the possibility of sound planning, the system has formed forecasting and planning modules. Based on the structure of the forecasting module with the identification of key factors influencing the financial security of the enterprise and comparing the most effective forecasting methods, an approach to forecasting factors influencing the need for financial resources in ensuring the development of agricultural machinery. The forecasting module is built by combining quantitative forecasting methods based on the approximation of existing trends with quantitative and qualitative approaches based on expert assessments. Based on a combination of balance, calculation-analytical and program-target planning and formalization of the choice of the date of the beginning of measures to manage financial security depending on the importance of the event, an approach to planning financial support for enterprise development. In the planning module, the external element in relation to the financial management system is the goal-setting system of the enterprise, which determines the mission and its goals in the areas of development. Approbation of the forecast-planning system at PJSC "Harvesters" was carried out. The results would be useful for practitioners, for the effective implementation of sustainable planning and forecasting of enterprise resources in accordance with the objectives of its development.

УПРАВЛІННЯ ФІНАНСОВИМ ЗАБЕЗПЕЧЕННЯМ ПІДПРИЄМСТВ В СУЧАСНИХ УМОВАХ

Domestic enterprises in modern conditions are faced with the question of the effectiveness of forming the necessary volume of financial support. The purpose of the article is to generalize the features of financial support in the conditions of martial law.
 The work examines the essence of financial support of enterprises. The constituent elements of the system of financial support of economic activity are analyzed.
 The components and types of financial support are considered. The main components of the system of financial support of innovative activity are: subjects, objects, methods of financing, forms of financing, levers of influence on economic activity, monitoring and control over the financing of economic activity. According to the form of ownership, private and state financing are distinguished. Depending on the form of provision, financial support of industrial enterprises can be provided in the following forms: self-financing, lending, investment, state financing. Quite often, in order to maximize profit and ensure the optimal ratio, enterprises simultaneously use various forms of financial support.
 The dynamics of such a source of self-financing as net profit is analyzed. Тhe share of enterprises that during 2016-2020 earned a profit, exceeded 70% and practically did not change.More than 25% of enterprises of all sizes operated at a loss, which indicates that they lack their own sources of financial resources. The use of such a source as depreciation deductions, which is explained by outdated fixed assets, is problematic for many enterprises.
 In connection with the insufficient volume of such a source as self-financing, it is proposed to use loans from international financial organizations.

Державний борг і позики під час війни та методи їх поствоєнного врегулювання

Introduction. As a result of Russia's military invasion of Ukraine much of its critical infrastructure has been damaged and destroyed. This has led to a deterioration in macroeconomic dynamics, exacerbation of social problems and deepening financial risks. Under such conditions, the issues of financial support of critical infrastructure need in-depth research. Problem Statement. There is a complication of the mobilization of financial resources in the event of a significant increase in expenses. There are problems with attracting additional resources to finance measures to support critical infrastructure in Ukraine. Purpose. The aim is to form a system of financial support for critical infrastructure during martial law and to overcome the consequences of war. Methods. General scientific and special research methods are used: description, analysis, synthesis, grouping, comparison, theoretical generalization, etc. Results. The dynamics of indicators of both domestic and external public debt is determined. The issue of attracting resources provided by foreign partners to finance programs to overcome the consequences of military aggression, as well as support for Ukraine by international financial organizations, is highlighted.. Projects to raise funds for Russian assets frozen in foreign countries to financially support measures to overcome the devastating effects of the war in Ukraine, as well as the introduction of land lease mechanisms and analogue of the Marshall Plan for Ukraine are examined. Conclusions. Due to the armed aggression of the Russian Federation, the pressure on the state and local budgets has increased, which required the application of emergency measures to mobilize revenues and structure expenditures. To balance the state budget, its deficit has been significantly increased, and state internal and external borrowings have been expanded to cover it. Funds from international financial organizations and assistance from foreign countries were also used to finance the state budget. Public and state-guaranteed debts have increased, but they cannot be considered critical. Public debt increased at a faster rate than its guaranteed share, mainly due to the growth of external debt. The internal part of the state-guaranteed debt to support the national economy has increased.

Фінансування інфраструктури в період подолання наслідків війни

Introduction. As a result of Russia's military invasion of Ukraine much of its critical infrastructure has been damaged and destroyed. This has led to a deterioration in macroeconomic dynamics, exacerbation of social problems and deepening financial risks. Under such conditions, the issues of financial support of critical infrastructure need in-depth research. Problem Statement. There is a complication of the mobilization of financial resources in the event of a significant increase in expenses. There are problems with attracting additional resources to finance measures to support critical infrastructure in Ukraine. Purpose. The aim is to form a system of financial support for critical infrastructure during martial law and to overcome the consequences of war. Methods. General scientific and special research methods are used: description, analysis, synthesis, grouping, comparison, theoretical generalization, etc. Results. The dynamics of indicators of both domestic and external public debt is determined. The issue of attracting resources provided by foreign partners to finance programs to overcome the consequences of military aggression, as well as support for Ukraine by international financial organizations, is highlighted.. Projects to raise funds for Russian assets frozen in foreign countries to financially support measures to overcome the devastating effects of the war in Ukraine, as well as the introduction of land lease mechanisms and analogue of the Marshall Plan for Ukraine are examined. Conclusions. Due to the armed aggression of the Russian Federation, the pressure on the state and local budgets has increased, which required the application of emergency measures to mobilize revenues and structure expenditures. To balance the state budget, its deficit has been significantly increased, and state internal and external borrowings have been expanded to cover it. Funds from international financial organizations and assistance from foreign countries were also used to finance the state budget. Public and state-guaranteed debts have increased, but they cannot be considered critical. Public debt increased at a faster rate than its guaranteed share, mainly due to the growth of external debt. The internal part of the state-guaranteed debt to support the national economy has increased.

Methods of Financing University Education and Their Implications on Access, Quality and Completion Rates: An Experience Shared from Undergraduate Education Students, Maasai Mara University, Kenya

Demand for higher education in Kenya has increased despite insufficient funding from the Government. This led to the cost-sharing policy where both the Government, the students, and their households share the costs of higher education. Students are provided with loans through Higher Education Loans Board (HELB). Public universities are supported through capitation grants to meet development and recurrent expenditure. The household contributes towards tuition and upkeep of their students. At Maasai Mara University, it has been observed that at the end of every semester, some students defer their examinations due to fee balances implying that there are gaps in the existing methods of financing a university education. This study, therefore, investigated the effectiveness of the financing methods and their implications on students’ access, completion rates, and quality education based on students’ experiences at the University. The study used a descriptive survey design. The target population was 950 education students who were in their third and fourth years of study. Stratified random sampling was used to select 315 students to participate in the study. Data were collected through questionnaires and interview guides for the class representatives. Documents were also analyzed. The study found that the majority of the students depended on HELB and support from their households to finance their education. The amount of loans allocated to students was inadequate and multiple sources of funding are required to meet the full costs of education. Students from poor backgrounds resorted to menial jobs which affected class attendance and learning outcomes. Other students deferred their examinations affecting academic progression. The study concluded that the current methods of funding university education were not dependable as they negatively affected students’ access, academic progression, completion rates, and quality of learning outcomes. The study recommended the need for an alternative financial support system for students from poor families to complete their studies on schedule.

Design of Digital and Intelligent Financial Decision Support System Based on Artificial Intelligence.

The quality of financial decision-making is very important to the future development of an enterprise, but it is often affected by the completeness of useful information for decision-making and the subjective factors of decision makers, and is often unstable. With the development of computer technology, the financial decision support system came into being, which improved the quality of financial decision to some extent. However, although the existing financial decision support system has achieved dataization to a certain extent, it still faces problems such as artificial leadership, insufficient intelligence, and poor decision-making efficiency, and cannot fully meet the needs of decision-makers. The explosion of artificial intelligence technology in recent years has provided potential improvements to financial decision support systems. In this article, we conduct a detailed analysis of the deficiencies in the current financial decision support system, build the mechanism and implementation path of the financial decision support system under artificial intelligence, and design a digital and intelligent financial decision support system. At the same time, we apply the proposed financial decision support system to the financial practice of X enterprise. Through the questionnaire survey, it is found that through the comprehensive application of artificial intelligence technology, the new system has a higher degree of intelligence than the existing system, and its construction can effectively improve the timeliness and accuracy of financial decision-making, while reducing the cost of financial decision-making. It is conducive to promoting the integration of management accounting and financial accounting.

Financial support of territorial communities of Ukraine in the context of decentralization

The experience of the countries of the European Union shows that the driving force behind their social and economic development is local self-government, in Ukraine it is territorial communities. Decentralization reform should ensure that local governments are able to independently resolve all local issues with their own resources. The problem of financial provision of territorial communities is of particular relevance in the context of financial instability in the country. The methodological basis of the study was: a systematic approach - for the theoretical definition of the essence of the financial support of territorial communities and their assessment; methods of comparative analysis and synthesis - to identify patterns of financial support and the structure of budgetary resources of territorial communities; statistical methods for assessing the effectiveness of financial support for territorial communities; graphic - to display the main trends in the formation of monetary resources of territorial communities. To analyze the dynamics of financial provision of TC in Ukraine, statistical data for the last 5 years were used. The article considers the impact of decentralization on the financial support of territorial communities. Its advantages and disadvantages are determined. The filling of local budgets in Ukraine in the conditions of decentralization is analyzed. It was studied that own revenues of local budgets have been constantly growing during 2016-2020, which positively characterizes the introduction of decentralization. Although, compared to 2019, the total revenues of local budgets reduced due to a decrease in transfers from the state budget. The dynamics and structure of interbudgetary transfers in 2016-2020 are analyzed. The mechanism of equalization and receipt of basic subsidies is considered. The main sources of formation of incomes of local budgets are determined. The importance in the structure of incomes of territorial communities of the tax on the income of individuals is noted. An evaluation model of the sufficiency of financial support for territorial communities is considered and a ranked series of territorial units is constructed. The problems of the financial support system for territorial communities due to the existence of post-conflict and temporarily occupied territories are identified. Directions for improving the financial provision of territorial communities are proposed and alternative sources of funds for the budgets of territorial communities are considered.

Financial Support of the Healthcare Development in the Conditions of Digitalization

In the research, modern models of the health care financing are studied, and features and drivers of their digitalization are determined. The state funding system is based on budget guarantees for medical care and institutional regulation. The private market financing model operates under the conditions of the market of medical services and insurance, private financing and regulation of business processes. The socially-oriented model of the health care financing combines compulsory health insurance with a state guarantee of the level of medical services. The aim of the study is to substantiate the directions of improving the system of financial support for digital development of health care. The author proposes to use digititalization drivers for each model, which will optimize information and financial flows. In accordance with the sequence of implementation of the medical reform in the domestic health care system, the following changes have been introduced: funding is implemented on the principle of