The stronger the level of economic integration between countries, the greater the need to study the formation patterns of the stock market reaction to the financial information signals. This concerns the Ukrainian stock market, which is now in its infancy, and which reaction to financial information signals is sometimes ambiguous. The research aims to identify the formation patterns of return and volatility indicators of the Ukrainian stock market reaction to the US financial information signals. To assess the direct nature of (...) US financial information signals effect on the PFTS stock index, the GARCH econometric modeling toolkit was applied. The research information base is the PFTS stock index and the Federal Reserve System financial information signals at the discount rate for 2000–2019. The fetch is divided into intervals corresponded to the ascent and decline phases of the financial cycle. It was found that an unforeseen increase in the discount rate at the financial cycle decline phase by 25 basis points decreases the PFTS stock index return, on average by 2.9%. Besides, the hypothesis about the general change stabilizing effect in the discount rate on the Ukrainian stock market volatility at the financial cycle growth phase was confirmed. Nevertheless, for investors, the most essential is the regulator’s monetary signals in the discount rate at the financial cycle decline phases rather than at the ascent phases because there is a more significant increase in the volatility level. (shrink)

Авторами розглянуто вплив провідних світових кредитних рейтингових агентств на фінансову безпеку емітентів цінних паперів. Обґрунтовано перформативний характер діяльності кредитних рейтингових агентств з позицій моделі «Les economies de la grandeur» нового соціологічного французького інституціоналізму, що дає змогу розв’язати протиріччя щодо сильної опозиції стосовно їх функціонування з одночасним збереженням діючої системи нормативного використання кредитних рейтингів.

Цель. Работа посвящена определению характерных особенностей влияния экономических информационных сигналов США посредством каналов трансмиссии на компоненты декомпозиции избыточной доходности украинского рынка акций (на примере репрезентативного фондового индекса ПФТС). Методика. Для выявления параметров изменений избыточной доходности биржевого рынка акций Украины в реакциях на экономические информационные сигналы было применено векторное авторегрессионное моделирование. Выбор модели VAR (3) был обоснован согласно информационным критериям AIC и SIC. Результаты. В работе установлено, что лишь переменная избыточной доходности (с лагом 3) позволяет прогнозировать определенную долю будущих изменений доходности (...) фондового индекса ПФТС. Тем не менее, коэффициент R² показывает, что задействованные переменные могут объяснить лишь около 7% изменения избыточной доходности фондового индекса ПФТС, что подтверждает достаточно низкую прогнозируемость украинского рынка акций. На основе декомпозиции избыточной доходности фондового индекса ПФТС за период 2000-2017 гг. (формат торгового дня) было выявлено, что рынок акций Украины является чувствительным к информационным сигналам по будущей избыточной доходности, поскольку более 89% от общего ее изменения можно объяснить влиянием непосредственно через канал премии за риск. Также установлено наличие влияния макроэкономического информационного сигнала США «Индекс доверия потребителей» на избыточную доходность украинского фондового индекса ПФТС через канал премии за риск, что подтверждает предположение о том, что «эффект неожиданности» макроэкономических сигналов США может быть фактором риска для рынка акций Украины. Научная новизна. Получил свое развитие методический подход по определению параметров реакции компонент избыточной доходности фондового индекса ПФТС на «эффект неожиданности» информационного содержание макроэкономических сигналов США. Практическая значимость. Использование приведенного методического подхода позволит улучшить точность финансового прогнозирования параметров реакции ценовых котировок отечественного рынка акций на обнародование макроэкономических информационных сигналов США, что даст возможность инвесторам (частным и институциональным) повысить доходность собственных инвестиционных стратегий. (shrink)

Авторами розглянуті умови соціалізації споживання коміксів у мікросоціальному масштабі, що дає змогу описати особливості формування та розвитку різноманітних поведінкових моделей попиту на даний продукт сучасної культури. Запропоновано доповнити сегментацію споживачів коміксів такими критеріями як схильність до домінантного формату читання та потенційні умови перегляду домінантного формату читання. Ключові слова: комікс, варіативність моделей споживання, суспільство, постмодернізм, соціальна комунікація. -/- Авторами рассмотрены условия социализации потребления комиксов в микросоциальном масштабе, что позволяет описать особенности формирования и развития разнообразных поведенческих моделей спроса на данный продукт современной (...) культуры. Предложено дополнить сегментацию потребителей комиксов такими критериями как склонность к доминантному формату чтения и потенциальные условия пересмотра доминантного формата чтения. Ключевые слова: комикс, вариативность моделей потребления, общество, постмодернизм, социальная коммуникация. -/- The authors examined the conditions for the socialization of the comics consumption in the micro-social scale, which allows us to describe the characteristics of the formation and development of various behavioral patterns of demand for this product of modern culture. We have proposed to supplement the segmentation of comics consumers with such criteria as the propensity for the dominant reading format and the potential conditions for revising the dominant reading format. Keywords: comics, variability of consumption patterns, society, postmodernism, social communication. (shrink)

Авторами рассмотрены основные подходы к моделированию процесса принятия финансово-экономических решений в контексте учета поведенческого фактора соблюдения принятых социальных норм, что позволяет выйти за рамки классического представления о мотивации экономических агентов.

The Ukrainian PFTS stock index volatility reaction as a whole and its constituent economic sectors (“Basic Materials”, “Financials”, “Industrials”, “Oil & Gas”, “Telecommunications”, “Utilities”) to seven non-monetary US information signals (“Consumer price index”, “Personal spending”, “Unemployment rate”, “Gross domestic product”, “Industrial production”, “Consumer confidence”, “Housing starts”) was carried out for the period 2000–2017 on the basis of closing stock quotations in the trading day format. To assess the “surprise” component direct influence nature of the USA selected non-monetary information signals on (...) the PFTS stock index, an AR-GARCH econometric modelling device was used. The results achieved clearly indicate the presence of some PFTS stock index economic sectors heterogeneous reaction to the United States individual non-monetary information signals announcement. For example, such economic sectors as “Basic Materials”, “Financials”, and “Oil & Gas” volatility response to the US non-monetary information signal “Consumer price index” “surprise” components the opposite of the overall PFTS stock index reaction. It can also be concluded that the United States non-monetary information signals influence on the Ukrainian stock market volatility depends not only on the financial cycle phase and data frequency, but also on the PFTS stock index economic sector. (shrink)

A method of identifying banks’ business models and studying the features of their risk profile, considering the system of indicators featuring the structure of assets, liabilities, income, expenses, and other qualitative indicators based on monthly statistical reporting. Kohonen's self-organizing maps (SOM) are used to process large data sets, revealing objects’ hidden features by forming homogeneous groups according to similar values of a large system of indicators. The choice of the system of indicators that play the most significant role in describing (...) the business models of modern banks is substantiated. The proposed method makes it possible to group banks with homogeneous characteristics into so-called structural-functional groups and studies the change in the characteristics of groups of banks over time to compare their behavior during periods of active development of the system and during a crisis. That approach is useful for studying the banking system at the macro level, as it provides a quantitative measure of its financial stability. The more banks are in groups with negative values of parameters, increased risks, and unprofitable performance, the worse the general state of the system. The method also allows studying the features of each structural and functional group and the business models’ features at the meso-level. The number and composition of banks inherent in any group change dynamically, which characterizes the features of the relevant business model in a particular period. The averages of each group reflect the objective changes in the banking system structure. In addition, the SOM trajectory can be built for each individual bank determining the development of its strategy, features of a particular business model, and risk profile. At the micro-level, it allows comparing the features of individual banks within the SFGB and models ways to improve efficiency and financial stability by forecast values for SOM. An extensive system of indicators used to form structural and functional groups of banks allows to quickly respond to changes in the banking system, identify areas of increased risk and explore the adequacy and effectiveness of banks’ business models. (shrink)

This article concerns genealogy of ideas from the Marburg school of neo-Kantian philosophy in’s early works in the context of intellectual and educational tendencies in Europe and the Russian Empire at the turn of the 20th century. Yevhen Spektorskyi (1875–1951) is known as a prominent philosopher and lawyer, professor, and the last president at the Saint Volodymyr University. Analyzing his early works, which were strongly connected to his teaching and scientific activities at the law faculty of Warsaw University, the author (...) recognizes several key factors as the reasons for considerable development of the main neo-Kantian ideas of the philosopher. Firstly, Spektorskyi’s research interests were strongly influenced by the intellectual communication with his teacher, professor, and lawyer Oleksandr Blok (1852–1909), whose research was concentrated on the idea of classification of the sciences and its further substantiating. Secondly, we know that at the beginning of 20th century Spektorskyi was on several long-term educational secondments in European educational institutions, which allowed him to immerse into intellectual life of that time. In the article, the author focuses on analysis of Spektorskyi’s published works and unpublished manuscripts of the years 1903–1910. It is clarified that their main issues concern essential notions and arguments of critical idealism and its implications for the procedures of rational argumentation of sciences (mainly, social sciences) by setting ideal goals and clarification of regulative ideas for the social scientists in their research. The article also examines Spektorskyi’s logical structure of critique of the founder of the Marburg school of Neo-Kantianism Hermann Cohen (1842–1918). The critique concerns the development of ethics as “mathematics of natural science” and argues for the creative and productive rethinking of neo-Kantian ideas by Spektorskyi. (shrink)

Social activity and public involvement in participatory practices, and the creation of civic spaces on the basis of the museum have become relevant for the formation of the concept of a modern museum. Such practices are especially important in times of crisis when history is being documented online and the Rapid Response Collecting (RRC) method is becoming widespread. Modern war discourse requires the newest forms of archiving and description because the recording of history is complicated by the volatility of the (...) military situation, the movement of large flows of displaced persons, and the departure of citizens abroad. The Ukrainian experience of documenting the war is examined in the article taking the example of the ATO Museum (an acronym for anti-terrorist operation) in Dnipro and the online Museum of Civilian Voices. It is important for us to pay attention to the national peculiarities of the codification of collective memory through individual experience and life stories during the full-scale military aggression against Ukraine, and to show the newest forms of presenting the evidence of war. (shrink)

The purpose of the article was to explain how the communicative specificity of the digital social media environment is changing the traditional Lasswell’s linear model. The changes that occur in the structural units of the model were explored. This complex was examined based on the material of 18 successful YouTube blogs dedicated to football. It was found that the modern ecosystem of sports journalism is undergoing significant transformations in terms of content and structure. And the fact that modern digital journalism (...) is already perceived by users as a part of everyday life changes the roles of content creators and those who consume this content. The element “With What Effect?” remains relevant and the closest to the classic one, which, due to interactivity and the ability to maximally objectify the effectiveness of content in social media, in modern sports journalism can become the main conceptual factor of digital narrative. (shrink)

The article presents a theoretical study of the most common and actual theories and approaches to the problem of understanding the correlation between the usage of authority, power, and responsibility in management; their influence on making managerial decisions; and the management style overall. The study suggests that there are various different theories that attempt to explain the nature of leadership, management, and authority. -/- The study differentiates authority and power, with authority being an official right to manage given by the (...) organization hierarchical structure, and power being an unofficial right given by the ability to solve problems. Furthermore, both authority and power come with responsibility, which is a function of control. -/- The study also differentiates management by style. This also leads to differentiation by decision-making approaches: each management style corresponds with a different approach to decision-making. -/- All in all, this article shows how important it is to study the correlation between the usage of authority, power, and responsibility in management in order to be able to choose an appropriate management style to facilitate maximum efficiency and effectiveness of decisions made. (shrink)

У рамках підвищення кваліфікації (стажування) автор ознайомилась зі специфікою викладання музеологічних дисциплін у низці закладів вищої освіти України та наголошує як на важливості музеологічної освіти для наукових працівників музею, так і на необхідності удосконалення змісту, форм і методів цієї освіти. Розробка методики викладання музеологічних дисциплін є на сьогодні вкрай необхідною.

Історія публікації текстів у 1920-х рр., вивчення механізмів «спотворення» їх органами цензури порушує важливі текстологічні проблеми – відтворення оригінального авторського тексту, який часто виявляється захованим за владною розправою редактора та цензора. У цій статті ми подаємо деякі матеріали з Центрального державного архіву вищих органів влади України, які стосуються літературного життя 1927 року. Це документи, які можуть бути цікаві для реконструкції певних аспектів творчості українських письменників, уточнення їхніх біографічних даних. Це заява Володимира Свідзінського щодо видання його книжки «Вересень» (1927) та внутрішня (...) рецензія політредактора на неї. Це уривки статті-передмови Максима Рильського «Міцкевич» до перекладеного ним твору А. Міцкевича «Пан Тадеуш» (1927). Також у статті наведено матеріал щодо вилучення деяких уривків з передмови Андрія Ніковського до повісті Проспера Меріме «Коломба» (1927) та вилучення уривків із двох передмов Михайла Івченка до перевидань збірки оповідань Марка Вовчка (1927) та збірки оповідань Панаса Мирного (1927). (shrink)

У статті автор досліджує сучасні проблеми музеології (музеєзнавства) як науки, зокрема структуру. Якщо включення до загальної музеології таких підрозділів, як історична музеологія, теоретична музеологія, прикладна музеологія, та деякі інші положення сьогодні не викликають дискусій серед значного кола науковців, то щодо місця в структурі, зокрема, музейного джерелознавства, музейної педагогіки, музейної інформатики, музейної соціології, музейної психології висловлюють різні думки. Зміна ролі музею в сучасному світі призводить до трансформації функцій музею, що, своєю чергою, визначає появу нових напрямів музейної діяльності та розвиток науки.

Abstract: In this article classical and Lacanian psychoanalysis is applied for interpretation of discourse and conduct of lieutenant Glahn, the protagonist of Knut Hamsun’s novel Pan. The analysis is based on the theory and case studies of psychoses from the main works by Sigmund Freud. The scene of Glahn shooting his hunting dog Asop – one of the most complicated episodes in a novel – became the starting point of this research. The application of psychoanalytic conception of paranoia to the (...) narrative helped throw light on the logic of action and clarify the connection between the protagonist’s deed and his discourse. A comparison of Hamsun’s text with Salvador Dali’s autobiographical writing The Secret Life of Salvador Dali and with the Lacan’s interpretation of the crime of Papin sisters helped identify paranoid mental structures in the narrative. (shrink)

У статті обговорено принципи кількісного дослідження в культурології, а саме можливості статистики та структурно-семіотичного методу в аналізі явищ традиційної культури. Метод застосовано до композиції українського рушника. Структурно-семіотичний аналіз композиції на рушнику може допомогти відрізнити обов’язкові елементи зображення від декоративних і встановити зв’язок між частинами. Нині вважають, що всі контури композиції мають однакову семантику. Але проведений аналіз показав, що однакову семантику мають орнаментальна смуга і рослинний орнамент. Інші елементи потрібні для того, щоб відділити їх від верхнього поля зображення і світового дерева. (...) Це змушує нас переглянути прийняту на сьогодні трактовку семантики цих елементів. Викладений у статті метод може е бути застосовано для аналізу інших зображень та різних явищ традиційної та масової культури. (shrink)

В статті розглядається підготовка майбутніх ієреїв в Київській православній митрополії XVIII ст. Дослідження переважно сфокусовано на аналізі конкретних практик вишколу парохів. Головним джерелом слугують реєстри грошей, сплачених в кафедрі при отриманні священства (більше десятка однотипних реєстрів за 1737 р., та один за 1736 р.). Зафіксовані суми дають змогу реконструювати особливості навчання/ екзаменування «по-кафедральному». У такій підготовці ключовим для ставлеників було випробування в читанні, після того — обов’язкова сповідь. У вишкіл майбутніх ієреїв, як вдалося з’ясувати, входили навчання катехізису та чинопослідуванню богослужінь (...) і, можливо, церковному співу, основи проповідництва або, швидше, знайомство з повчальною літературою. Особливу увагу звертали на моральні якості майбутнього ієрея. Така «програма», хоч і була вужчою, ніж вимагалося законодавчо, представляє основні очікувані напрями діяльності священика на парафії: звершення Літургії, виконання треб, навчання пастви основам віри. Кафедра монополізувала право на навчання ставлеників. Розглядати Могилянську академію, як основну школу для майбутнього парафіяльного духовенства Київської митрополії, невірно. Базовим для ставлеників у XVIII ст. було навчання при кафедрі — у школі при архієрейському домі, що мала, насамперед, «професійне» спрямування. Київська кафедра, як структура, і духовенство, як певна корпорація, у XVIII ст. самостійно вирішували питання освіти своїх нових членів, а певний рівень освіченості, був обов’язковою умовою для набуття священства. (shrink)

The problem of supporting scientific and educational institutions is considered. A method of selective financing of scientific and educational institutions that create innovative technologies taking into account their investment in innovative developments is proposed. On the basis of statistical data on the indicators for assessing the activities of scientific and educational institutions and the indicator of the innovative potential of a scientific and educational institution from the production of innovations (PNn), their rating was calculated. The essence of PNn is to (...) compare the indicators of the volumes of income of the special fund Dsfn and the volume of expenditures of the scientific and educational institution Vn. -/- In order to stimulate scientific and educational institutions to create innovative technologies, it was proposed to introduce targeted investments. The problem of quantifying the rate of premium on the basis of an integrated approach in terms of indicators of innovative potential from the production of innovations and the rating of a scientific and educational institution for 2 institutions (namely: K and H) has been solved. Institution K will receive a large increase, and institution N will receive a smaller increase, the value of which will be 56.23 % and 43.76 %, respectively. The results showed the independence of the indicator of the innovative potential of a scientific and educational institution from the production of innovations from the previous rating of a scientific and educational institution, or vice versa. The proposed methodology has been tested by an experimental method, targeted investments have been determined based on an integrated approach in terms of indicators of innovative potential and the rating of a scientific and educational institution. -/- This study is of practical interest to government authorities and grantors when allocating funds according to the vector of selective financing of scientific and educational institutions through targeted investments in the development of innovative technologies, and theoretically – to researchers dealing with issues of financial security, protectionism and public administration. (shrink)

As part of this study, it was suggested that, like other social media, Reddit allows to embody models of communicative interaction in a digital environment. The comments under three creepypastas published on the subreddit NoSleep, were selected as the object of the study. To prove the original thesis, the comments were analyzed from the perspective of social sharing of emotions (SSE) — a process characteristic of real interpersonal communication. The comments were studied manually using the method of intentional analysis. As (...) a result of the study, the main intentional categories characteristic of the social sharing of emotions in the comments on NoSleep were established. It was concluded that SSE in the comments under creepypastas generally coincides with the existing models, and the differences found can be explained by the specifics of the digital environment and the concrete features of Reddit as social media. (shrink)

The monograph is devoted to the scientific substantiation of theoretical and methodological postulates of the integrated reporting formation and development of practical recommendations for definition and disclosure of the integrated reporting items. Preconditions of the integrated reporting genesis are defined, which include institutional theory development and institutional investors emergence, whose activities are based on the following principles: socially responsible investment; movement of Ukraine to the European Union; increasing the requirements for the disclosure of accounts by stock exchanges; international cooperation in (...) ecological safety issues; modern information and communication technologies development. An overview of the basic foundations of the integrated reporting compilation is presented, difficulties of its formation and popularization among Ukrainian companies are revealed. Perspective directions of activity on the integrated reporting implementation in Ukraine are determined. Recommended for managers, academics, graduate and undergraduate students of economic specialties. (shrink)

The monograph is devoted to the scientific substantiation of theoretical and methodological postulates of the integrated reporting formation and development of practical recommendations for definition and disclosure of the integrated reporting items. Preconditions of the integrated reporting genesis are defined, which include institutional theory development and institutional investors emergence, whose activities are based on the following principles: socially responsible investment; movement of Ukraine to the European Union; increasing the requirements for the disclosure of accounts by stock exchanges; international cooperation in (...) ecological safety issues; modern information and communication technologies development. An overview of the basic foundations of the integrated reporting compilation is presented, difficulties of its formation and popularization among Ukrainian companies are revealed. Perspective directions of activity on the integrated reporting implementation in Ukraine are determined. Recommended for managers, academics, graduate and undergraduate students of economic specialties. (shrink)

Монографія об‘єднала зусилля науковців факультету міжнародної економіки Дніпропетровського національного університету імені Олеся Гончара та учасників Міжнародної науково-практичної конференції «Стратегії економічного розвитку країн в умовах глобалізації» у процесі пошуку й визначення стратегічних орієнтирів економічного розвитку України в глобальному середовищі й обрання своєї вірної дороги. На відміну від Ван Гога, усі дороги якого ведуть у нікуди, ми віримо, що спроможні обрати ту саму – нашу дорогу у світле й заможне майбутнє, й усі наші зусилля не будуть марними.

Introduction. The development of online marketing in social networks creates unique opportunities for personal selling. Especially these opportunities are manifested in online education when they buy a brand of an expert with experience in a particular field. That is why a competitive space is being formed in the Instagram social network, where a personal brand acts as a product or service. -/- Materials and methods. Studying the effectiveness of promoting a personal brand in social networks based on the Instagram platform (...) was chosen to have great visual opportunities for self-presentation. As part of the collection of empirical material, two methods were used: a survey (N-200) and content analysis of three blogger accounts with high rates of activity and popularity. -/- Results and discussion. Content analysis of bloggers showed that an algorithmic feed on a social network allows bloggers to control the content. To help them, Instagram provides statistical data on user reach, thereby capturing trends in the movement of the blogger’s audience. The main task of a blogger is to combine real and “virtual” images so as not to lose consumer confidence. A survey of social network users confirmed the importance of a personal brand for them. The survey also made it possible to identify the most popular audience requests that they expect from bloggers and their accounts: valuable reviews and recommendations, case studies and author’s solutions, storytelling, blogger’s reflections and motivating messages, live broadcasts, and stories are important. -/- Conclusions. The results obtained underline followers’ high level of interest in the bloggers’ personal brand on Instagram. The study results show that the most significant number of those involved (those who give feedback and are constantly involved in interaction with the account) is where the formation of a personal brand is built to a greater extent on the emotional level of perception of the individual. (shrink)

The article examines the peculiarities of the formation of the ecological and economic security system and the specifics of its principles. The relevance of the transformation of approaches to understanding the essence and principles of ecological and economic security in the context of the need to ensure sustainable development is substantiated. The levels of ecological and economic security and the peculiarities of changes in profits and costs during the transition of the economic system and business entities between these levels are (...) determined. The principles of implementation and formation of economic tools for ensuring environmental safety are proposed. (shrink)

The authors of the book have come to the conclusion that toensuring the country’s security in the conditions of military aggression, it is necessary to use the mechanisms of protection of territories and population, support of economic entities, international legal levers of influence on the aggressor country. Basic research focuses on assessment the resource potential of enterprises during martial law, the analysis of migration flows in the middle of the country and abroad, the volume of food exports, marketing and logistics (...) system. The research results have been implemented in the different decision-making models during martial law, information and economic security management, formation of personnel potential and assets of enterprises, food, energy and environmental security management, use of budgetary levers and financial instruments. The results of the study can be used in the developing of directions, programs and strategies for the post-war recovery of Ukraine’s economy and the attraction of foreign investments in the regions, decision-making at the level of ministries and agencies that regulate security management processes. The results can also be used by students and young scientists in the educational process and conducting scientific research on the problems of ensuring the country’s security. (shrink)

The book will be useful for economists, finance and valuation professionals, market researchers, public policy analysts, data analysts, teachers or students in graduate-level classes. The book is aimed at students and beginners who are interested in forecasting modeling and analytics of economic processes and want to get an idea of its implementation.