The purpose of the article is to reveal the scientific approach that substantiates the impact of the creation of strategic alliances (SA) on the digital transformation of business and the development of their innovative power based on identified success factors. The aim was achieved using the following methods: abstract logic and typification (for classification of SA's success factors), generalization (to determine the peculiarities of SA's influence on their innovation development), analytical and ranking method (to determine the relationship between the dynamics (...) creating of SA and the degree of acceleration of digital transformation), expert evaluation (to determine the degree of influence of SA success factors by business areas). Implementing a business-integrated approach to understanding digital transformation will accelerate implementation of innovation and organizational change, identifies future prospects for market, customer and business relationships, highlighting the importance of researching the factors that ensure their success. An alternative vision of SA’s success factors is suggested, which are determined by the possibilities the organization of partnerships and organizational culture, integration of business sectors, compatibility of management goals, external relevance, obtaining synergies. Innovation is considered by the authors as an integration factor that reconciles all groups of SA success factors, giving them the necessary focus to solve business problems. The results of the study show that the creation of SA has a significant impact on accelerating and changes priority of digital transformation of business areas involved in strategic partnerships, and the impact of SA on the development of their innovation power is crucial. (shrink)

The approach to the study the role of strategic alliances in the conditions of digital business transformations has been further developed in the article. In the course of a critical analysis of the content of scientific publications of modern scientists who studied the behavior, peculiarities of activity and the meaning of strategic alliances, it was established that the role of strategic alliances in the conditions of digital transformations does not disappear, but brings new advantages, requiring the maximization of returns from (...) more dynamic partnership relations, which requires more in-depth study of such benefits. Dynamics analysis of the number of concluded agreements in the field of strategic partnership in the period of 2014-2023 demonstrates their increase starting from 2017, which led to the activation of digital business transformations. In the course of research, it was determined that the role of strategic alliances in the conditions of digital business transformations is to ensure strategic flexibility under the conditions of continuity of digital transformations, improve competitive positions on the market, increase their innovativeness and efficiency, improve organizational stability and the ability of companies to learn, create opportunities for obtaining synergistic effect. It develops the ability of companies to proactively manage changes, contributes to the joint solution of strategic tasks and goals of partner companies, provides significantly greater opportunities for the development of innovative processes through the development and implementation of new methods and forms of work, new solutions in economic sectors, innovations in management, contributes to survival in market competitive environment and is an important competitive imperative to ensure overall long-term digital transformation. (shrink)

The paper is devoted to the study of determinants determined the level of financial security of economic systems. It is shown that the financial security of an economic system implies the achievement of a level of financial stability that will contribute to simultaneously maintaining financial equilibrium and ensuring targeted growth in line with the development strategy. The level of financial security of rail transport in Ukraine was analyzed and it was determined that the decline in its security was the result (...) of a complex interaction of external and internal factors, the main of which were tight government regulation, shifting the financial burden of social responsibilities to Ukrzaliznytsya, PJSC, lack of competition in the transportation of the main nomenclature of cargo and the unsatisfactory state of non-current assets. Based on the Argenti’s method, it is shown that the consequence of the inefficient financial management of Ukrzaliznytsia, PJSC are the reduction of its insolvency. Three main determinants of the financial security of rail enterprises were identified: a reduction in traffic volumes, an unstable capital structure and the impossibility of timely repayment of current liabilities. An additive model for assessing the impact of selected determinants on the level of financial security of Ukrzaliznytsia, PJSC is proposed. The analysis of the model parameters showed that the greatest impact has the index of industrial production, which is due to the predominant formation of its own financial resources of rail transport due to income from freight traffic. A complex of measures designed to improve the financial condition of rail enterprises was proposed. It is substantiated that in order to equalize existing threats, it is necessary to take political decisions aimed at improving the financial condition of Ukrzaliznytsia, PJSC by reducing the intensity of leaching of its financial resources, as well as implementing an anti-crisis financial strategy aimed at optimizing the capital structure and financial rehabilitation of rail enterprises. (shrink)

New trends in the economic systems management in the context of modern global challenges: collective monograph / scientific edited by M. Bezpartochnyi, in 2 Vol. // VUZF University of Finance, Business and Entrepreneurship. – Sofia: VUZF Publishing House “St. Grigorii Bogoslov”, 2020. – Vol. 1. – 309 p.

The authors of the book have come to the conclusion that it is necessary to effectively use modern approaches the management of competitiveness the economic entities in order to increase the efficiency of using the resource potential, formation of competitive advantages and development strategies. Basic research focuses on economic diagnostics of ensuring the competitiveness of economic entities, marketing and logistics, analysis of energy-efficient potential, assessment of development potential. The research results have been implemented in the different models of inventory management, (...) corporate social responsibility management, business process management and project management. The results of the study can be used in decision-making at the level the economic entities in different areas of activity and organizational-legal forms of ownership, ministries and departments that promote of development the economic entities and increase their competitiveness. The results can also be used by students and young scientists in modern concepts and mechanisms for management of competitiveness the economic entities in the context of efficient use the resource potential and iintroduction of modern innovations. (shrink)

The problem of corruption in Ukraine has been examined, as well as Blockchain technology application feasibility in combating the phenomenon has been analyzed in the article. Blockchain instrumental features and properties, making the technology unique and determining its potential applications in many sectors of the economy, have been covered with much attention. The authors have analyzed both advantages and obstacles for a distributed data registry implementation. Analysis of benchmarks and application of the best practices of Blockchain technology in the public (...) sector, including the fiscal process, have been presented in the study. Profound interest in exploring the technology feasibility has been emphasized on the part of the world's leading governments. Information on pilot Blockchain projects in the public sector of Ukraine has been presented. The article focuses on the fact that alongside with the technology area and ways of scaling its application, a new era of digital society development is emerging. (shrink)

The preconditions and features of the formation of post-industrial society are defined in the article. The distinctive role of active innovation infrastructure of the country in integrating into the European community and society based on knowledge are proved. The characteristic features of the economy of post-industrial society are the increasing role of intangible resources in ensuring social reproduction, “softization” and “servization” the subjects of innovation infrastructure. The essence of economic category “innovation infrastructure“ is defined in the article. It is a (...) dynamic self-regulating system of markets and subjects that entering these markets in certain economic relations and it provides the necessary conditions for implementation of the innovation processes. Mechanism of functioning of the constituent elements of innovation infrastructure in market economy is proposed, relationships between them are defined. (shrink)

This article suggests theoretical and methodological approach to corporate control system formation in Eastern Europe (case study of Ukraine). It considers historical and controversial aspects of corporate control implementation and suggests the systematization of subjects and objects in terms of corrective actions and outlines of corporate relations. Existing types of corporate control in Ukraine have been investigated on the basis of legal and regulatory framework and corporate practice. The article suggests measures in respect of management of the corporate control system (...) development, based on the improvement of certain components of corporate control implementation and structural peculiarities. (shrink)

The concept and the main stakeholders of E-learning ecosystem are investigated at the article. University is regarded as a center of such ecosystem due to skilled knowledge providers and technical equipment availability. Studying different cases authors prove that higher educational institution plays a driver role in different projects, especially social start-up projects. Different models of partnership between universities and other stakeholders are considered. In authors’ opinion, one of the most perspective collaborative projects are in frame of “students – schoolchildren” due (...) to effective knowledge transfer. Such kind of cooperation can fill the gap between school and university education. Particularly the framework of e-learning project in financial literacy for orphans totally prepared and executed by students is considered. The ICT tools are very actively used in these initiatives aiming to develop high demanded skills as critical thinking, creativity and complex problem solving. As a result, schoolchildren are receiving a toolkit for basic data analysis, developing own business plan and adopting evidencebased decisions. The authors prove that E-learning projects are able to improve both information and financial literacy and also increase the level of inclusivity into education of weak and socially unprotected children from orphanages. The article will be useful for the representatives from universities, orphanages, companies who eager to boost the level of their social responsibility. The aim of the research is to reveal different types of cooperation under social projects between higher educational institutions and other stakeholders, using wide range of ICT e-learning tools as well. In addition, to develop a set of recommendations to the universities of collaboration roadmap. (shrink)

Risk assessment is one of the prerequisites for understanding its causes and possible consequences. We base our risk assessment on the principles described in the European standard EN 31000 - Risk Management Process. This standard comprehensively describes the continuous activities that are necessary in managing risks and minimizing their possible adverse effects on the operation of the system under investigation. In this activity, it is necessary to first identify the existing risks, then analyze and evaluate the identified risks. In the (...) analysis of existing risks, it is possible to use both qualitative and quantitative analytical methods, or combine them. We use qualitative methods in cases where we do not have a sufficient amount of input information, these are more subjective. Quantitative methods are more accurate, but also more demanding on input information and time. The choice of a suitable analytical method is a basic prerequisite for knowledge of risks and their evaluation. The values of individual risks obtained in this way are the basis for determining the measures that are ecessary to minimize them, i.e., to adjust them to an acceptable level. The draft measures are always based on the value of the individual components used to calculate the risk number, as well as on the value of the asset , which needs to be protected. Appropriately chosen analytical methods are one of the basic prerequisites for the consistent application of the principles of risk management, as a continuous process aimed at increasing the overall security of the system under study. In the article, the author describes the procedures used in risk assessment, as well as specific analytical methods that can be used in working with risks. The aim of identifying risk factors is to create a list of events that could cause undesirable disruption to ongoing processes. At this stage, we define all the risks that will be subsequently analyzed and evaluated. When identifying, we can use methods such as, e.g. SWOT, PHA (Preliminary Hazard Analysis) or CA (Checklist Analysis). Methods suitable for determining the causes and creating scenarios for the course of a risk event are ETA (Event Tree Analysis) or FTA (Fault Tree Analysis). The basic analysis of the system can be performed using the FMEA method (Failure Mode and Effect Analysis), which provides a numerical risk assessment. By comparison with the numerical value of the risk that we are willing to accept, we obtain 2 groups of risks. Acceptable, which will be given regular attention and unacceptable, which we will focus on in risk management and we will try to minimize its negative affect on the functioning of the system under study. (shrink)

Całość rozpoczyna teoretyczny rozdział matematyczno-statystyczny. Jego istota i charakter jest odmienny, od pozostałych dziewięciu rozdziałów praktyczno-specjalistycznych. Prezentuje on aparat matematyczno-statystyczny niezbędny do zrozumienia treści kolejnych kierunkowych już rozdziałów monografii. Treści merytoryczne tego rozdziału nie są zaprezentowane w formie systematycznego wykładu, czy prezentacji, ale przedstawiają jedynie sygnalnie i syntetycznie pojęcia, definicje, twierdzenia oraz zasady i metody, które stanowią fundament ich zastosowań w naukach ekonomicznych, finansach oraz informatyce. Rozdziały: od drugiego do dziesiątego są kierunkowymi rozdziałami specjalistycznymi i prezentują różne kierunki praktycznych zastosowań (...) metod matematycznych i statystycznych, czyli ilościowych. Rozdziały: drugi i trzeci dotyczą zarządzania finansami. Przy czym pierwszy z nich dotyczy naliczania odsetek w banku od dyspozytorów kredytów i obligacji. Kolejny zaś traktuje o metodach oceny ekonomicznej efektywności projektów inwestycyjnych i produkcyjnych oraz zawiera analizę wrażliwości wybranych wskaźników finansowych na zmiany czynników je tworzących. Rozdział czwarty prezentuje podstawowe informacje i zasady korzystania z arkusza kalkulacyjnego na przykładzie programu MS Excel wraz z omówieniem wybranych funkcji finansowych. W rozdziale piątym omówione są wybrane narzędzia wspomagające przetwarzanie danych informacji, jakimi są systemy SAS wykorzystywane przede wszystkim w interakcjach gospodarczych oraz w procesie dydaktycznym na uczelniach wyższych. Modele zachowań konsumenta, idea aproksymacji oraz wybrane mikroekonomiczne funkcje popytu zostały – wraz z przykładami – omówione w rozdziale szóstym. W rozdziale siódmym czytelnik znajdzie opis działań podejmowanych przez firmę w celu optymalizacji jej finansowego i gospodarczego funkcjonowania w okresie niepewności rynkowej na przykładzie pandemii COVID 19 i konkretnego przdsiębiorstwa. Dwa kolejne rozdziały: ósmy i dziewiąty są ze sobą ściśle zintegrowane. Oba one dotyczą niedookreślonych układów równań liniowych. Pierwszy z nich – o charakterze teoretycznym – poświęcony jest rozważaniom dotyczącym wykorzystywaniu rachunku macierzowego do rozwiązywania niedookreślonych układów równań liniowych. Kolejny zaś przedstawia praktyczne zastosowanie teoretycznych kwestii rozdziału poprzedniego do określenia wyceny wartości rynkowej nieruchomości. Monografię kończy rozdział dziesiąty dotyczący wybranych narzędzi wspierających proces sprzedaży usług finansowych wraz z prezentacją prognoz służących zminimalizowaniu ryzyka i błędów w procesie planowania sprzedaży w organizacji. W większości rozdziałów zawarte są rozwiązane przykładowo zadania z wyczerpującym komentarzem objaśniającym. Niniejsza monografia składa się z dziesięciu rozdziałów, jednak – zdaniem autorów – tematyka zastosowania metod ilościowych nie została w niej wyczerpana. Toteż planowana jest kolejna część tej publikacji zawierająca kontynuację podjętego i aktualnie rozpoczętego tematu. (shrink)

The article aims to define the management mechanism of complex, open dynamic systems with human participation. The following parts of the system life-cycle were identified and unified in the theoretical scope: general and specific compositional elements of repeating changes, marginal index boundaries, the dynamics of the compositional elements of the lifecycle, the key points of the change in the character of the index dynamics. In the practical scope, two common trends of socio-economical system life-cycle management are considered. The first trend (...) is the regulation of the comprising element ratio, which provides the increase in the duration of the maximally effective performance of a functioning system. The second trend is the regulation of the reproduction time of a new system. The systems life cycle aspects are investigated in almost all sciences and studied within many disciplines in the field of higher education. Therefore, deepening the mastery of scientific and methodological foundations of the life cycle of a complex open dynamic system is useful for any subject in everyday and practical activities. A human being – in the formation of own human capital. Families – when it is formed, the birth of children, the distribution of income and expenses. Companies – for efficient business activities. As well as local communities, local self-government bodies, public authorities and global entities within their profile activities. The results of the research provide the possibility of the development of applicable mechanisms for effectiveness and stability enhancement of managerial and entrepreneurial operation in business projects. (shrink)

У монографії розглядаються теоретичні підходи до розуміння сутності національної інноваційної системи та ролі малого підприємництва у її структурному розвитку; якісні та кількісні параметри малого підприємництва, тенденції його динаміки, впливу на показники інноваційного розвитку країни; обґрунтовуються принципи забезпечення інституціональних передумов розвитку малого підприємництва як елемента національної інноваційної системи.

В монографии исследованы проблемы управления устойчивым развитием национальных социально-экономических систем. На основе проведенных исследований авторами разработаны модели устойчивого развития социально- экономических систем на примере Украины и Польши. Рекомендуется ученым и специалистам, преподавателям высших учебных заведений, докторантам, аспирантам и студентам магистратуры, которые занимаются вопросами повышения эффективности функционирования национальных социально-экономических систем.

The article deals with a new financial tool of attracting capital, known as Initial Coin Offering (ICO). In conditions of reduced banking lending and difficult access to finance for SMEs, ICO is viewed to be one of the possible ways to access capital. It considers the main advantages and disadvantages of ICO performance, including its typical features, challenges and regulatory approaches to tax regulation, cybersecurity. The authors of the article determine stages of the ICO mechanism, identifying potential risks and ways (...) to mitigate them, focusing primarily on the need to control and regulate ICO projects. The authors identify the main types of ICO funding, including hybrid and pure funding. The research contains an analysis of ICO trends and their duration for the period of 2013-2017. The capital raised through ICO performance over the period of 2013-2017 is analysed, and determination of the exponential trend line showing the level of its approximation is determined. The study covers the territorial distribution of ICO, in which the top positions regarding the amount of capital raised by ICO are attributed to the USA and EU member states. The existence of ICO regulation in European countries, such as Switzerland and UK, was defined positive in terms of further development of the relevant regulation in the financial market. The article considers the best ICO practices in EU member states. To mitigate risks relating to ICO performance and to increase the level of investment, it would be reasonable to create regulatory rules in every country where cases of ICO performance are reported, based on the practice of the mentioned European countries. The authors give recommendations regarding ICO regulation in Ukraine, taking into consideration the relevant European experience. (shrink)

In the context of the digital economy development, the priority component of the economic security of an enterprise is changing from material to digital, constituting an independent element of enterprise security. The relevance of the present research is driven by the need to solve the issue of modernizing the economic security of the enterprise taking into account the new risks and opportunities of digitalization. The purpose of the academic paper lies in identifying the features of preventing internal and external negative (...) influences (threats) in order to guarantee the effective and stable functioning and dynamic social development of the enterprise in the context of digitalization. The research methods are as follows: general scientific research methods, in particular, logical analysis, theoretical substantiation, methods of induction and deduction, formalization and generalization, statistical observation. Results. It has been proposed to introduce the concept of “digital security of the enterprise” for replacing the concept of “information component of economic security” in order to bring the terminology in line with new economic realities. The implementation of the “black box” model has made it possible to identify the latest risks and threats to the economic security of an enterprise within the conditions of the digitalization that differs from the existing ones. The assessment of enterprises’ digital security of the European Union member states has revealed that the digital security level does not depend on the size of the country, however, it is influenced by the institutional environment (in particular, digital development tools in the EU) and the size of enterprises. Also, within the research framework, an assessment of the digital security level of enterprises in the context of digitalization has been proposed. In order to characterize enterprises by the level of digital security, a calculation procedure using the coefficient method has been proposed. (shrink)

This article intends to analyze the performance and the efficiency of companies and to identify the key factors that may explain it. It was selected a sample with 15 enterprises: 7 Portuguese and 8 Ukrainian ones, belonging to several industries. Financial and non-financial data was collected for 6 years, during the period of 2009 to 2014. Research questions that guided this work were: Are the enterprises efficient/profitable? What factors influence enterprises’ efficiency/performance? Is there any difference between Ukrainian and Portuguese enterprises’ (...) efficiency/performance, which factors have more influence? Which industrial sector is represented by more efficient/profitable enterprises? The main results showed that in average enterprises were efficient with low level of profitability. According to gained results several indicators were highlighted so that companies would pay more attention to them. (shrink)

This paper tackles the asymmetry of economic interests and geopolitics between developed and developing countries. Currently, the geopolitics presupposes that the majority of novel technologies are devised and designed in developed countries with their subsequent transfer to the developing countries. Moreover, in the context of the global crisis, the issue of de-dollarization is relevant from the political and economic points of view. Our specific focus is on the small oil countries and the issue how to get off the oil needle (...) in the painless way. Furthermore, the paper analyzes the rise of cryptocurrency that is envisaged as the substitute of the U.S. dollar which has been the world most dominating currency for the last several decades. This paper considers the global asymmetry which has the greatest impact on countries with economies dependent on energy exports. In the light of the diminishing returns from the sale of oil, we examine the ways for escaping this asymmetry. The authors consider the geopolitical asymmetry stemming from the dominance of the U.S. dollar, analyze the political situation and offer the pathways for the development of those economies where oil become an obstacle for economic development. The paper examines the ways of solving the above-mentioned problem by other states in detail and conduct the comparative analysis of the above issues in relation to the economy of Azerbaijan. From this case study we conduct a comparative analysis of the developed and developing countries taking into account the economic asymmetry and global economic and financial security. (shrink)

Throughout the history of mankind, energy security has been always seen as a means of protection from disruptions of essential energy systems. The idea of protection from disorders emerged from the process of securing political and military control over energy resources to set up policies and measures on managing risks that affect all elements of energy systems. The various systems placed in a place to achieve energy security are the driving force towards the energy innovations or emerging trends in the (...) energy sector. Our paper discusses energy security status and innovations in the energy sector in European Union (EU). We analyze the recent up-to-date developments of the energy policy and exploitation of energy sources, as well as scrutinize the channels of energy streaming to the EU countries and the risks associated with this energy import. Moreover, we argue that the shift to the low-carbon production of energy and the massive deployment of renewable energy sources (RES) might become the key issue in ensuring the energy security and independency of the EU from its external energy supplies. Both RES, distributed energy resources (DER) and “green energy” that will be based on the energy efficiency and the shift to the alternative energy supply might change the energy security status quo for the EU. (shrink)

The resources and resource potential of the innovative component of nanoeconomics are analyzed. The factors of production – classical types of resources such as land, labor, capital and technology – are described. Ways of influencing the security resources of nanoeconomics within the innovation paradigm are evaluated. The purpose of the study is to identify the factor of nanoeconomics in the formation of resource security potential in the innovation paradigm. To achieve this goal, the following tasks were set: to characterize the (...) importance of the land resource as a factor in the potential of economic nanosystems; to highlight the importance of capital as a factor of nanoproduction and an indicator of the innovation paradigm; to determine the labor resource in the development of innovative nanosystems; to analyze the intellectual potential of nanoeconomic development of the innovation paradigm; to identify clusters of innovative nanopotential in the regions of countries with transition economies. Each resource is examined separately with the first analysis of a resource security assessment such as land. The other resource under consideration is labor. Demographic factors become decisive in describing the development of labor resources. The capital factor allows the formation of independent economic systems, when the state budget affects the possibility of developing science, education and health care. A number of methods were applied during the study: methods of induction and deduction (to assess the importance of the innovation paradigm for the development of nanoeconomics); system analysis and structural approach (to determine the aggregate state of production factors); method of comparing the quality of production factors in market economies and in developed countries; an observation method (for assessing the state of resources in different countries); method of cluster analysis (to determine the existence of innovation-territorial regions in countries with economies in transition). The analysis is carried out to identify the conditions of the impact of production factors on the innovative paradigm of nanoeconomics. It reveals theoretical approaches to the formation of nanoeconomics and its active development. As a result of the study of intellectual and resource potential of security, a cluster analysis was carried out to assess the conditions for the formation of innovation-territorial regions. This study allows to understand the role of production security factors in the formation of the innovation paradigm and the efficiency of the development of nanoeconomics. The way of providing the basis for the development of nanoeconomics in the form of efficient use of production factors is considered as a perspective. (shrink)

This paper focuses on the novel and leading innovations and investments into the new energy technologies. Energy issues, including sustainability, energy security and energy dependency are probably one of the most crucial and critical issues that humanity must face at the moment. Recent global challenges, such as climate change and the rise of the “green” energy (represented by the increasing deployment of the renewable energy sources (RES)), as well as distributed energy generation and platform energy markets (e.g. peer-to-peer (P2P) markets (...) for electricity) that were made possible thanks to the rise of Internet, social networks and sharing economy, all create a demand for the new energy technologies. The leaders in energy innovations, such as Tesla are becoming the true trendsetters who are marking the way for the humankind to go forward.We provide an overview of the innovative energy technologies that might change the energy market as we know it and discuss their outcomes and possible implications. Moreover, we contemplate the changes that might be caused by the ongoing transition from the fossil fuels to RES. Our results might be of some interests to researchers and stakeholders dealing with energy economics and policy. (shrink)

The article describes the features of social entrepreneur development as a way of government regulation of labor market. Different ways of definition “social enterprise” are analyzed. During the research, the models of improvement and development about regulation of this activity in other countries were analyzed. Analyzing the modern models of social entrepreneurship in other countries demonstrates how it is popular and deals with the problems of unemployment and social safety. In the current situation in Ukraine this model of entrepreneurship is (...) not so popular. For the changing situation we described and proposed the mechanism of development of social entrepreneurship. For the more active development of this entrepreneurship model we have proposed: to create, pass and apply the law about social entrepreneurship, which can measure the criteria for this type of activities and the law mechanism to support social entrepreneurship; to spread information about this type of activity through the informational channels; to develop and establish programs about professional education for people, who would like to work at the social entrepreneurship area. The characteristics of social entrepreneurship were compared, charitable organizations and traditional business. Features and criteria, which characterize the social entrepreneurship are described. Experience of developing social entrepreneurship in other countries and the benefits of involving labor force in Ukraine are compared. The methods used for research are comparing and analyzing. The main goal of social entrepreneurship is producing goods and services for solving social problems and searching the ways of improving the economic situation in Ukraine. (shrink)

For the modern model of the market there are inherent existence of both a set of possibilities and a large number of hazards that are waiting for economic agents and which are generated by the need to make decisions in the conditions of considerable uncertainty about the future. Liquidity risk is one of the central places in the system of bank risks, is closely related to solvency and financial stability, and therefore its management is an extremely important element of financial (...) management of the bank. This paper is devoted to the consideration of theoretical approaches to the management of bank liquidity risks, as well as understanding the risk of unbalanced liquidity and its place in the system of bank risks. In the course of the study, the essence of the concepts of uncertainty, risk as such, economic risk and its varieties, including banking is gradually clarified. We offer our own definition of "bank risk" and describe its essence. Based on the understanding of the concepts of bank risks, liquidity balance, bank liq uidity, the essence of the risk of unbalanced liquidity is disclosed, its characteristics and main aspects of management are determined. In determining the risk of liquidity as a probability of a future state, when the bank may suffer losses due to the imbalance of demand for liquidity and availability at a certain point in time, we believe that the essence of liquidity management is reduced to the maximum balance of demand for liquid assets and their actual availability in a certain moment of time using special tools. Our paper also reveals the mechanism of information influence on bank liquidity and its leading role in liquidity risk management processes. Moreover, the paper discloses the conceptual constituents of organizational support for bank liquidity risk management. (shrink)

This research aims at establishing the impact of information and communication technologies (ICT) on e-commerce development of industrial enterprises by means of economic and mathematical modelling. The goal was achieved using the following methods: theoretical generalization, analysis and synthesis (to critically analyse the scientific approaches of scientists regarding the expediency of using mathematical models in the context of enterprises’ e-commerce development), target, comparison and grouping (to reveal innovative methodological approach to assessing ICT impact on e-commerce development of industrial enterprises), tabular, (...) analytical and integral method (for summarizing the analysis results of enterprises readiness to implement ICT, ICT use in the activities of industrial enterprises of Ukraine and the analysis of e-commerce development), mathematical modelling (to build a regression model determining impact of changes in ICT use on the market share occupied by industrial enterprises), generalization (to determine promising directions of e-commerce developing of industrial enterprises). The implementation of a comprehensive approach to understanding the importance of ICT influence on e-commerce development of industrial enterprises will ensure acceleration of the digitalization of business processes, will contribute to the speed increase of enterprises response to customer requests, and increase the market share occupied by enterprises. A new vision of directions for developing e-commerce of industrial enterprises is suggested, which are determined by the need for enterprise rebranding, the development of e-commerce tools and technologies, the importance of outsourcing service automation and promotion of subscription trade. ICT is considered as integration factor that determines prospects for e-commerce development of industrial enterprises and contributes to increasing efficiency of online business management. Research results demonstrate that the use of economic and mathematical modelling is an important tool for assessing ICT impact, and its absence can negatively affect the accuracy and validity of online business management. (shrink)

The 21st century imposed many challenges on mankind, among them there is a very important problem of entrepreneurial leadership transformation. Entrepreneurship gradual modification under the pressure of factors of innovation, informatization of the environment and the need for socialization of the relations between businessmen and society has led to the need of new understanding of leadership positions. The purpose of this scientific research is to substantiate the style of entrepreneurial leadership, which will become dominant in the 21st century. Analyzing and (...) systematizing the scientific works of many modern scholars by the methods of theoretical synthesis, analysis and synthesis, we have solved the problems of entrepreneurial leadership transformation. The use of the historical and logical method has revealed the relationship between the entrepreneurial leadership development and entrepreneurial types. The study found that the global business environment requires new leaders, whose key competences will meet the needs of society, educational space, ethical requirements, etc. Studying the similarities and differences of various leadership styles has become the basis for the allocation of a new style – the leadership of conscious influence, the main characteristics of which are given in this research. In order to achieve the goals, set by the leader-entrepreneur, it is proposed to systematize the leadership opportunities on tactical and strategic, the factors of influence on their realization in the future are generalized. By the method of scientific and theoretical prediction the portrait of an entrepreneur in a global perspective has been formed. Prospects for further research in this area are the development of a methodology for evaluating the effectiveness of business leaders' actions and systematization of ways to increase their effectiveness in the future. (shrink)

According to the criterion of physical ability any state considers a person as a source of wealth and economic growth, industry and economic sector – as a personification of productive power and profit, and business – as a resource for productive activities and super income. Such a perception of an individual implies the existence of his three constituents, namely: the function of movement, the means of exchange activity, and, finally, the complex of motives to join the interaction environment and the (...) development environment. These constituents also define the motion trajectory of an individual who is involved in the reproductive process, and the result of such a movement expected by the society. At all stages of movement of an individual there are different environments which have leading value for him, such as education, family growth and bringing up, physical training and sport, communication and interaction which develop desire for learning, curiosity, inquisitiveness and other qualities. To trace the emergence of an individual as the product of bringing up, education, and activities, we have to examine the overall situation and the target system environment, which contributes to the development of physical abilities. The systems of physical education and development of physical abilities take the leading part in this environment; more and more people in post industrial society of our planet pay attention to these issues. However, many of the conceptual basics and the position of the perception of these systems and their significance for the individual, who has his own spiritual and cultural values, their role in providing vital activities are not studied enough yet. For example, a person’s entering into the environment of sports activities, which is based on his physical abilities, at any age transfers him into a group of factors of productive forces of the society and an individual becomes a business object. (shrink)

The article considers the features of ensuring the economic security of enterprises in the conditions of intensive introduction of information technologies in their activities in the process of forming the digital economy. It is determined that digitalization creates important advantages for enterprises in terms of implementing a long-term strategy for their development, strengthening economic security, and achieving significant competitive advantages in doing business. It is studied that the system of economic security of the enterprise is an organized set of elements (...) of the management infrastructure of the enterprise, which are focused on ensuring stable and effective development of the business entity, neutralization, and elimination of internal and external threats. (shrink)

Стаття присвячена дослідженню питань формування нової стратегії самодостатнього розвитку транспортно- комунікативної системи України. Проаналізовано стратегічний документ «Транспортна стратегія України на період до 2020 р.» та виявлено низку недоліків. Було виокремлено недоліки стратегічного та методич- ного характеру. Окрему увагу автором приділено недосконалості системи стратегічних документів, які регулюють розвиток ТКС, відсутності деяких стратегій розвитку галузей ТКС, проблемам фінансування, а також проблемам, пов’язаним з цільовими програмами розвитку. Вказано на проблеми, пов’язані із структурним наповненням зазначеної стратегії. -/- Статья посвящена исследованию вопросов формирования новой стратегии (...) самодостаточного развития транспортно-коммуникативной системы Украины. Проанализирован стратегический документ «Транс- портная стратегия Украины на период до 2020 г.» и выявлен ряд недостатков. Были выделены недостатки стратегического и методического характера. Особое внимание автором уделено несовершенству системы стратегических документов, регулирующих развитие ТКС, отсутствию некоторых стратегий развития отраслей ТКС, проблемам финансирования, а также проблемам, связанным с целевыми программами развития. Указано на проблемы, связанные со структурным наполнением действующей стратегии. (shrink)

The purpose of the article is to provide the evolving international trends of modern management models and authorial vision of model of state governance system in Ukraine, its subsystems, in particular, the system of provision of administrative services that is appropriate for the contemporary times. Methodology. On the basis of scientific and theoretical approaches to the definitions of terms “state governance” and “public governance”, there was an explanation of considerable difference between them and, taking into consideration, the mentality of Ukrainian (...) society and peculiar weak side in self-organization, the authors offered to form authorial model of governance on the basis of historically traditional for Ukraine model of state governance and to add some elements of management concepts that proved their significance, efficiency and priority in practice. Results. The authors emphasized the following two prevailing modern management models in the international practice: “new state management” and “good governance”. The first concept offered for consideration served as a basis for the semantic content of state activity that reflects more the state of administrative reformation. Practical meaning. A practical introduction of management to the domestic model of governance creates the range of contradictions that do not allow implementing herein concept. Pursuant to authors, the second one allows in considerable measure to reform state governance, considering historically developed peculiarities of this model. Moreover, the involvement of concept herein into introduction of informational and communicational technologies in the process of governance eliminates the necessity of power decentralization, it allows to form real net structure and, at the same, to keep vertical power structure, to involve citizens for formation and taking of management decisions, to form electronic communicational channel of feedback, to provide citizens with electronic administrative services. All indicated advantages of the concept certify about the necessity to reform state governance exactly in this field. Meaning/ Distinction. This article raises a question about the significance of formation and sequence of state policy in Ukraine aimed at creating an information-oriented society, space, as well as informational and technological infrastructure. (shrink)

В публикации рассматриваются особенности функционирования банков развития. Проанализированы мнения ученых по поводу деятельности банков развития и их влияния на экономическое развитие страны. Определены основные цели банков развития. Обоснованы отличия между банками развития и коммерческими банками. Рассмотрены особенности деятельности Банка развития Республики Беларусь. Исследованы мнения отечественных ученых по поводу необходимости создания банка развития в Украине. Проанализированы проблемы функционирования Украинского банка реконструкции и развития, а также Всеукраинского банка развития. Предложены основные направления создания государственного банка развития в Украине.

The purpose of the work is to form the net structure of management of the system of administrative services provision on the basis of implementation of subject-to-subject interactions between state sector and civil society. Methodology. The methodology basis for the investigation is the abstract-logical analysis of theoretical and methodological backgrounds for management of relations and interactions. For the theoretical generalization and formation of net structure, there are used scientific recommendations of Ukrainian scientists regarding the necessity to implement subject-to-subject relations in (...) the system of administrative services provision. Results. The investigations allowed confirming that the hierarchical structure of the state governance system does not give an opportunity to implement equal interaction between a subject of provision and a subject of an appeal as these relations have one – way communication and the feedback channel has a formal character. Moreover, the civil society is not considered by state sector to be a source of methods and ways to develop the system of state governance, in particular, the management system of administrative services provision. Practical meaning. The net structure of management will allow implementing the subject-subject relations in the system, under which the actions of the subject of provision – that means state sector – will be directed to the realization of rights and interests of the subjects of appeal. In their turn, apart from the performance of all legislative responsibilities that they should perform, they can carry out activities directed to the development of management activity in the system of administrative services provision and the whole system of state governance as an integral system of management. Meaning/Distinction. The provided model of the net structure will allow involving citizens in the processes of state governance and increasing the impact of the civil sector during the making of state and management decisions and, as a result, to confirm subject-to-subject positions in the relations. (shrink)

Bakery products are very important in human nutrition and are the basis of any daily diet. Their social significance is determined by the traditions and habits of the population of the countries, accessibility for all groups of the population, diverse assortment, including bakery products for functional and specialized purposes. The up-to-date trend is to expand the assortment of functional bakery products, the use of which will provide the body’s need for the necessary macro- and micronutrients for an active and healthy (...) lifestyle. In the bread and bakery products market, consumer preferences are constantly changing. Consumers prefer products that contain less fat and sugar. The market is in demand for bakery products that are healthy, while taste remains an important success factor. Manufacturers include popular healthy additives (grains, seeds and legumes) in their products. Particularly popular at present are ingredients from Eastern Europe and Asia: yuzu, sesame, matcha, shiso. Tropical fruits (passion fruit, mango, bergamot) and fragrances (dried hibiscus, lavender and rose) are predicted to become popular. This causes the complexity of demand segmentation, features of merchandising and pricing policy, features of consumer behavior and consumption psychology, etc. An assessment is given of the dynamics of production and consumption of bread and exports of products, and a forecast is made for the development of the world market for bread and bakery products. The results of the analysis are necessary to assess the level of food safety and to develop a strategy that takes into account the current trends in the global bread and bakery products market. Prospective trends for sustainable production of frozen bakery products have been developed. (shrink)

The article presents an analysis of global trends in setting the inflation target and the acceptable corridor of inflation target fluctuations. Inflation targeting is an important attribute of the monetary regime of inflation targeting, its main quantitative parameter. The tendency of the inflation targeting regime in 70 countries all over the world are considered, of which 41 countries have official recognition by the International Monetary Fund (IMF) regarding the inflation targeting regime. It was found that most countries set the inflation (...) target at 5% or below, and the level of the corridor of fluctuations in relative terms hovers around 20-50% of the target value. The latest trends related to changes in the monetary policy of the European Central Bank have been studied, recommendations for determining the acceptable corridor of fluctuations of the inflation target in small and open economies on the example of Ukraine are provided. (shrink)

Modern promising theoretical and methodological studies have reasonably shown that the issue of bonuses significance in the production and economic mechanism is not controversial. Currently, an order has been established where economic incentive funds are formed according to fixed standards, approved in differentiated amounts by year of economic development cycle; the main fund-forming indicators are performance to the supply plan of finished products under the concluded contracts, increase in labour productivity, improvement of finished product quality and volume growth net profit. (...) The introduction of long-term wage standards for the hryvnia finished product strengthens the economic interest of labour collectives in increasing labour productivity and reducing staff turnover, improving the procedure of material incentives for combining professions, high rates and criteria for evaluating quality in labour, introducing technologically founded standards. This paper focuses on the issue of assessing and determining leading methods for promoting finished product quality. We employ both theoretical and empirical tools for achieving this goal and for deriving relevant outcomes and policy implications. (shrink)

Purpose: To develop proposals on the directions of institutional support for the processes of creativity of the Ukrainian economy. Design/methodology/approach: The analysis of trends in the creativity of the Ukrainian economy is carried out and proposals are developed for conceptualizing institutional support for these processes. The authors set out to develop proposals for institutional support for creativity processes and offer recommendations for systematic updating of Ukrainian legislation in the areas of state regulation of high-tech business. The information base was the (...) information materials of the State Statistics Service of Ukraine, Ministry of Economic Development and Trade of Ukraine, the statistical databases of the European Commission, OECD and World Bank for the period 2014–2020. The research methodology is based on scientific tools that include comparative analysis and economic and mathematical modeling. Findings: Building a national program of public investment in creative development will allow us to systematically approach the issue of institutional support for technological breakthroughs. Research limitations/implications: Recommendations on the development and improvement of legislative instruments of deregulatory policy, harmonization with European standards are substantiated. Directions of systematic updating of legislation on guaranteeing foreign investment of creative projects and targeted investment of joint research projects of academic science and creative organizations are proposed. The implementation will allow a systematic approach to the issue of institutional support for the technological breakthrough of Ukraine. Originality/value: There is a need to step up institutional activities in the field of organizing research centers, introduce targeted investment in the academic science and research activity of creative organizations. (shrink)

The article provides the analysis of the entrance into the innovative activity and organized regulation of interaction which is based on the scientific and technological changes, concentration of production and the feasibility study of administrative decisions, which are dominated by a conglomerate of technical, technological and engineering management decisions. The research formulates the provisions for the productive use of business as the form of economic relations which is based on the entrepreneur function. These provisions are formulated basing on the conditions (...) of efficient division of labour and cooperation. The research singles out a number of systemic positions which allow perceiving logically and distinguishing the production, service and business, to distribute human activities between the groups of occupations and types of service activities. Among these systemic provisions the most efficient is a modelling approach which, when the society enters more complex social and economic stage, transfers the science from the environment of operations with the bulk characteristics into the environment of the analysis of specific sets of coefficients. The logistics of Ukraine’s joining the process of business is associated with the position of the recognition of the primacy of the physical abilities of the person, which should be developed in part in the system of public security and partly in the business environment, commercialization and private capital. Person enters the business environment and habitat as an initiative individual. These indicators are the following: «connections» between the old and the new, between the objects which exist and those which only start to appear and will exist in future; «sources» of development, movement, changes; «mechanism» of development, ways of changing from old to new quality; «direction» of development; «style» of thinking, understanding reality; «essence» of true knowledge; «essence itself» of cognition; «alternativeness» of metaphysics and dialectics. (shrink)

Potential of sustainable regional development is studied through demographic, economic, social, socio-cultural and ecological indicators in order to determine the strategy development areas of regional SMART specialisation on the example of Cherkasy oblast (the central region of Ukraine).Cherkasy oblast was selected for the study because it is one of the pilot regions for the implementation of the SMART specialisation strategies. The following methods were used in the course of the study: the system-structure analysis, comparative-geographic method, mapping (GIS – MapInfo Professional, (...) Surfer Golden Software, and program for gravity modelling of the potential field calculation), interpolation, correlation and description-statistical method.The results of the study are intended for national and regional policy-makers, representatives of self-governance, researchers dealing with regional development problems, NGOs, representatives of small and medium business, public activists and others.The proposed results of the study of the sustainable regional development potential in view of SMART specialisation on the example of Cherkassy oblast may be used in the countries of the Eastern Partnership (Belarus, Georgia, Moldova, Azerbaijan, Armenia). (shrink)

This paper is envisaged to provide the Ukrainian businesses with suggestions for a content marketing model for the effective management of website content in order to ensure its leading position on the European and world markets. Our study employed qualitative data collection with semi-structured interviews, survey, observation methods, quantitative and qualitative methods of content analysis of regional B2B companies, as well as the comparative analysis. The following essential stages of the content marketing process as preliminary search and analysis, website content (...) creation, promotion and distribution, and content marketing progress assessment were identified and classified in detail. The strategic decisions and activities at each stage of the process showed how a company’s on-site and off-site content can be used as a tool to establish the relationship between the brand and its target audience and increase brand visibility online. This study offered several useful insights into how website content, social media and various optimization techniques work together in engaging with the target audience and driving website traffic and sales leads. We constructed and described the content marketing model elaborated for effective web content management that can be useful for those companies that start to consider employing content marketing strategy for achieving business goals and increasing a leadership position. (shrink)

В статье описаны результаты анализа условий становления бизнеса в Украине, который прошел три стадии развития и утверждения. В их числе такие: 1) фаза начального движения советского предпринимательства в 1985–1991 гг., строящегося на условиях планового командования и распределения; 2) фаза гибридного накопления ресурса бизнеса в 1992–2009 гг., основывающегося на условиях невмешательства; 3) фаза реорганизации бизнеса на научно-методической основе в 2008–2016 гг.

The main purpose of the study is to determine the key aspects of the mechanisms of state management of the exchange of information about cyberattacks, cyber incidents, and information security incidents. The methodology includes a set of theoretical methods. Modern government, on the one hand, must take into account the emergence of such a new weapon as cyber, which can break various information systems, can be used in hybrid wars, influence political events, pose a threat to the national security of (...) any state. As a result of the study, key elements of the mechanisms of state management of the exchange of information about cyberattacks, cyber incidents, and information security incidents were identified. (shrink)

The authors of the scientific monograph have come to the conclusion that мanagement of socio-economic transformations of business processes requires the use of mechanisms to support of entrepreneurship, sectors of the national economy, the financial system, and critical infrastructure. Basic research focuses on assessment the state of social service provision, analysing economic security, implementing innovation and introducing digital technologies. The research results have been implemented in the different models of costing, credit risk and capital management, tax control, use of artificial (...) intelligence and blockchain. The results of the study can be used in the developing of policies, programmes and strategies for economic security, development of the agricultural sector, transformation of industrial policy, implementation of employment policy in decision-making at the level of ministries and agencies that regulate the management of socio-economic and European integration processes. The results can also be used by students and young scientists in the educational process and conducting scientific research on global challenges and creation scenarios for the development of socio-economic processes. (shrink)

The authors of the scientific monograph have come to the conclusion that ensuring sustainable development and security of economic systems in the new geostrategic realities requires the use of mechanisms for state protection of national economic interests, innovative outsourcing and digital technologies, and environmental protection. Basic research focuses on assessment the economic security of insurance companies, logistics processes, farms, healthcare organisations, retail and e-commerce, and tourist destinations. The research results have been implemented in the different decision-making models in the new (...) geostrategic realities, human resource management, environmental and international security, use of artificial intelligence, and city branding. The results of the study can be used in the developing policies, programmes and strategies for public-private partnerships, post-crisis recovery of Ukraine, and decision-making at the level of ministries and agencies that regulate the processes of managing sustainable development and security. The results can also be used by students and young scientists in the educational process and conducting scientific research on sustainable development and security of economic systems. (shrink)

Modern business conditions require from economic entities to use appropriate methodological tools for assessing their activities. In economics science a fairly significant set of approaches, methods and techniques are now known that positively contribute to solving problems regarding ensure of competitiveness the economic entities. However, active influence of the internal and external environment on their activities, as well as the specificity of economic management the economic entities, requires the use of more effective methodological tools that can identify threats of the (...) external environment and explore the strengths of activity the economic entities. (shrink)

The research material proposes the use of decision support information-analytical technology in discharge military personnel employment, which, in contrast to the usual processing of survey results, makes it possible to obtain more information for decision-making. Adherence to such an approach in the development of public administration mechanisms increases the likelihood that in the case of their implementation in the country there will be positive changes, as they will indirectly take into account the availability of necessary resources. Information and analytical technology (...) to support decisions in the field of labor economics substantiates the development of the example of discharged military personnel social welfare. According to the content, the developed decision support information-analytical technology in the field of labor economics provides for the following components: formation of social protection mechanisms; development of a questionnaire on the use of the appropriate mechanism; statistical analysis of survey results (generation of empirical distributions of answers to questions relative frequencies; comparison of answers medians; correspondences analysis; factor analysis; analysis of hierarchies); meaningful interpretation; decision making. (shrink)

The definition of nanoeconomics can relate to different levels and areas of economic life. First of all, this is the nanolevel of the economic system. As a human economy, nanoeconomics provides for the allocation of an individual factor within the framework of a socio-economic phenomenon. The nanoeconomic aspect is central to the definition of inclusion. So, the inclusion of a person, as the main subject of nanoeconomics, to the formation and stabilization of economic systems is the initial one in the (...) integration of an individual in relation to production processes and economic development. A person is involved in academic and social life by making decisions about their own business and integrating it into the sectoral and national economic space. It is proved that its indicators are the conditions for clustering the economic system. The study carried out a cluster analysis of the innovation system in a country with an economy in transition. In addition, the study outlined that inclusive phenomena in the economy are close to integration and are the opposite of segregation and isolation. It is noted that different institutions of integration can be used to form objective conditions for the development of babyeconomics. Public decisions of inclusion involve the use of Arrow's impossibility theorem. The research results can be used: – the individualistic functions of inclusion should be used in the formation of the babyeconomics, the human economy and the economy of nanotechnology; – states of inclusion must be created at all levels of the economic system; – a person and wealth are an individualistic aspect of an inclusive economy, because national wealth consists of individual wealth. Nanoeconomics is just beginning to be included in the systemic processes of inclusive economic phenomena, especially in countries with economies in transition. (shrink)

Забезпечення енергетичної безпеки України в умовах гібридних загроз.

Предложен метод распределения спортивного бизнеса по критерию продукта, потребляемого в среде взаимодействия постиндустриального общества. Научно-методической обработке подвергаются три группы – «производительного» бизнеса, что основывается на развитии физической способности человека, «организационного» бизнеса, что связан с перемещением физически способного человека к месту действия, и «сопутствующего» бизнеса, что обусловлен средой сервиса и обслуживания клиента. Обосновано, что движение к инновационному управлению в Украине может быть осуществлено в том случае, если расчет мелкого и среднего бизнеса будет ориентирован на новые знания, сложные планы и системные задачи, (...) выдвигаемые организационной средой. (shrink)

The purpose of the article is generalization of features of expediency of the creation of innovative parks in Ukraine. Practical output of the results consists in the discovered success factors of the activity of innovative parks in Ukraine in order to create new opportunities of innovation development of the country. Current organizational and functional system of innovative entrepreneurship of Ukraine is an imperfect, complex and by all indications, is in the process of formation. It is assumed that infrastructure of international (...) educational innovative hub can structurally corrected according to the area which operates a hub that is: stimulate the dialogue between academics, businessmen and government officials; provide an interactive exchange of explicit and implicit knowledge; generate shared vision on adaptation measures of dynamic environment. Evaluation of the results of scientific and pedagogical activities of working group of innovative hub should be made for following indicators: development of skills of teaching and research work; introducing of innovative approaches for practical individual activity; formation of innovative approaches for collective practical activity; working on the chosen scientific and methodological theme. Main advantage of proposed university innovative hubs is that laid all necessary foundations in order to high school could be as soon as effectively integrate the results of university, academic and sectoral sciences of Ukraine, well as advanced research results of scientific world community in the development and implementation of innovative projects and development innovation. (shrink)

Currently, under the conditions of permanent financial risks that hamper the sustainable economic growth in the financial sector, the development of evaluation and risk management methods both regulated by Basel II and III and others seem to be of special importance. The reputation risk is one of significant risks affecting reliability and credibility of commercial banks. The importance of reputation risk management and the quality of their assessment remain relevant as the probability of decrease in or loss of business reputation (...) influences the financial results and the degree of customers’, partners’ and stakeholders’ confidence. By means of imitating modeling based on Bayesian Networks and the fuzzy data analysis, the article characterizes the mechanism of reputation risk assessment and possible losses evaluation in banks by plotting normal and lognormal distribution functions. Monte-Carlo simulation is used to calculate the probability of losses caused by reputation risks. The degree of standardized histogram similarity is determined on the basis of the fuzzy data analysis applying Hamming distance method. The tree-like hierarchy based on the OWA-operator is used to aggregate the data with Fishburne's coefficients as the convolution scales. The mechanism takes into account the impact of criteria, such as return on equity, goodwill value, the risk assets ratio, the share of the productive assets in net assets, the efficiency ratio of interest bearing liabilities, the risk ratio of credit operations, the funding ratio and reliability index on the business reputation of the bank. The suggested methods and recommendations might be applied to develop the decision-making mechanism targeted at the implementation of reputation risk management system in commercial banks as well as to optimize risk management technologies. (shrink)

Nowadays a lot of new financial instruments for SMEs innovation projects are getting more popular in the business environment. A great number of them are traditional like credit loans at the same time we can observe the appearance of innovative ones. Variable set of financial instruments generalized on fig.1. This classification is giving by Organiztion of Economic Cooperation and Development ( OECD). As we can see from the fig.1 the classification is based on risk approach. For further research it is (...) needed to сlarify these definitions. Firstly, asset based finance is the method of assigning structured turnaround capital and term loans, disbursement of debit portfolio, stocks, machines, funds, and / or real estate. This type of finding is suitable for SMEs beginners, refinancing existing loans, growth financing, mergers and acquisitions. (shrink)