Economic forum http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum <p><img src="/public/site/images/polinkevych/PRINT_Економічний_форум1.jpg"></p> <p><strong>DOI: <em>10.36910</em></strong><strong><a href="https://doi.org/10.33108/galicianvisnyk_tntu">/</a><a href="http://e-forum.lntu.edu.ua/">e-forum.lntu.edu.ua</a></strong></p> Луцький національний технічний університет en-US Economic forum 2308-8559 FUNCTIONING OF RURAL TOURISM CLUSTERS AS A TOOL OF DEVELOPMENT OF UKRAINIAN REGIONS http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/281 <p>The article is devoted to the search for effective tools for regional development by studying the processes of formation and development of rural tourism clusters in Ukraine and trends in the tourism industry in general, as well as finding optimal tools for regional development. The purpose of the publication is to study the theoretical and methodological approaches to finding directions for regional development through the formation of rural tourism clusters in Ukraine. The methodological tools of the research methods were the analysis of scientific literature and points of view of foreign and domestic specialists of cluster policy in the tourism industry. The study also used analytical data from the World Travel and Tourism Council and the National Tourism Organization of Ukraine. In the course of organizing and conducting the research, general scientific and special methods such as analysis, synthesis, comparison were used, while identifying destructive factors influencing the state and development of rural tourism. The study empirically confirms and theoretically proves that cluster policy is the most effective and appropriate in the development of rural tourism in the region. With the help of the structural-logical method the vision of introduction of modern tools of development of regions in the conditions of pandemic spread is presented. The content and significance of rural tourism in the development of the regions of Ukraine are considered. The content of the researched definitions is determined, the approaches of the process of formation and development of rural tourism clusters are generalized and formulated. The object of research is the processes of clustering of tourist entities in rural areas.</p> <p>It is determined that the main tool for the development of the regions of Ukraine is the cooperation of rural economic entities. One of such areas of cooperation is the formation and development of tourism clusters. It has been proven that cluster policy is successful and has spread in almost all countries of the world. Today in Ukraine there are no state programs for cluster development, and there is no single representative office - a representative of clusters of Ukraine. The proposed directions of development of Ukraine's regions through the formation and development of rural tourism clusters are the leading tools of regional development, which will quickly overcome the effects of the pandemic, promote socio-economic growth and integration of regional tourism products and services into the global tourism market.</p> Matviichuk L. Vasilchinko A. Dashchuk Yu. Copyright (c) 2022 Matviichuk L., Vasilchinko A., Dashchuk Yu. https://creativecommons.org/licenses/by-nc/4.0/ 2022-03-09 2022-03-09 1 1 3 10 10.36910/6775-2308-8559-2022-1-1 THE ROLE OF TOURIST INFORMATION CENTERS IN THE REGIONAL STRATEGIC DEVELOPMENT OF THE REGION http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/282 <p>The article analyzes the interpretation of the concept of tourist information center. It is analyzed that in order to promote the national tourist product on the international market and to increase the intensity of domestic tourist flows, state support and an effective program for the creation and operation of tourist information centers are required. The article considers that in the field of tourism information about tourism facilities and tourist infrastructure, conditions and factors of tourism development becomes the main resource. The issues of development of priority innovative tourist products and scientific substantiation of the regional system of their information support are need to be solved. Analysis of recent researches and publications shows that the study of the creation of tourist information centers is timely and demonstrates the level of the successful promotion of the national tourism product. The usege of international experience in Ukraine and the interest of local executive bodies in the development of inbound and domestic tourism at the present stage of state formation is reflected in the practical activities of tourist information centers. However, it was found that the process of organization and action of domestic tourist information centers is not yet sufficiently covered in the domestic scientific literature. The article proves that the structure and form of organization of tourist information centers depends on the goals and objectives it has to solve, the status and place in the structure, priorities in the tourist activities of the region. The normative and legal base of creation and activity of tourist information centers in Ukraine is also analyzed in details. The analysis allows us to state that the creation of tourist information centers is one of the strategic activities of the executive authorities in the field of tourism, it is important to adhere to the technology of organization and functioning of such institutions. Based on the analysis, it was established that the Transcarpathian Tourist Information Portal provides with an opportunity to view information about the tourist potential of the region, as well as information about routes and tourist news of the region. The work of the Mukachevo City Tourist Information Center in cooperation with the Mukachevo Historical Museum (Palanok Castle) in the framework of development projects is analyzed in details. The practical significance of the study is needed to take into account the activities of tourist information centers as an important element of the innovation infrastructure of the tourism industry of the state.</p> Smochko N. Luzhanska T. Molnar-Babilya D. Copyright (c) 2022 Smochko N., Luzhanska T., Molnar-Babilya D. https://creativecommons.org/licenses/by/4.0/ 2022-03-09 2022-03-09 1 1 11 20 10.36910/6775-2308-8559-2022-1-2 THEORETICAL AND METHODICAL PRINCIPLES OF ORGANISATIONAL BEHEVIOR http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/285 <p>In this article, based on the theoretical analysis, approaches to understanding the essence of the concept of «organizational behavior», the objects of organizational behavior are identified and the directions of analysis and evaluation of organizational behavior are formed. The systematization of literary sources and approaches to the analysis of organizational behavior indicates the lack of research devoted to the development of directions of assessment of organizational behavior. The relevance of the solution to this scientific problem is that in the article on the axis of theoretical study, the key areas of assessment of organizational behavior are proposed: assessment of motivation and level of satisfaction of employees, analysis of conflicts and socio-psychological climate in the team. The study of the topics of theoretical and methodological principles of organizational behavior in the work is carried out in such a logical sequence: systematization of the interpretation of definitions «organizational behavior», forming approaches to understanding the essence of the concept of "organizational behavior", analysis of existing methods for assessing organizational behavior and justification of the directions of assessment of organizational behavior. The article presents the results of the analysis of theoretical and methodological principles of organizational behavior. Research results can be useful for practical use by managers who seek to increase the performance of personnel.</p> Abramova I.O. Copyright (c) 2022 Abramova I.O. https://creativecommons.org/licenses/by/4.0/ 2022-03-09 2022-03-09 1 1 42 48 10.36910/6775-2308-8559-2022-1-5 DEVELOPMENT OF ORGANIZATIONAL STRUCTURES OF MANAGEMENT LOGISTICS AT DOMESTIC ENTERPRISES http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/286 <p>The article considers the role of logistics in ensuring the effective functioning of domestic enterprises. The need to ensure proper logistics management as a prerequisite for its successful use is substantiated, and the important role of the logistics service in this is emphasized. The main purpose of the study is to develop proposals for the development of organizational structures of logistics management in domestic enterprises. Systematization of literature sources and approaches to solving the problem of logistics management in modern enterprises shows that in a changing environment there is a need to change the organizational structures of management, including in the field of logistics.</p> <p>The article presents the results of the analysis of the main indicators of domestic enterprises, which showed a negative trend to reduce the profitability of their activities, outpacing the growth of costs relative to production, increasing logistics costs in the price of products. Logistics can play an important role in solving the existing problems of domestic enterprises. However, for its proper use in domestic enterprises, it is necessary to create or improve existing logistics services that would meet today's requirements for logistics management.</p> <p>The article reveals the following main trends in the development of logistics management, which are currently in place: structural compression; finding a balance between centralization and decentralization of logistics management; reducing the differences between the head and specialists of the logistics department in the degree of responsibility and breadth of authority; distribution of horizontal matrix structures; development of delegation of powers; dissemination of interfunctional teamwork; strengthening the position of logistics as a functional aspect. All this requires changes in the organization of logistics management at domestic enterprises. At the same time, given the constant changes in the external environment, the development and improvement of organizational structures of logistics management at domestic enterprises should be permanent.</p> <p>The results of the research will be useful for managers of enterprises engaged in logistics activities, scientists who study the issues of improving the efficiency of enterprises and the formation of organizational structures for logistics management.</p> Koshchii O. Copyright (c) 2022 Кощій О.В. https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 49 57 10.36910/6775-2308-8559-2022-1-6 IMPLEMENTATION AND MONITORING OF QUALITY STANDARDS IN THE EDUCATIONAL PROCESS AS A TOOL OF STRATEGIC MANAGEMENT AND ENSURING COMPETITIVE POSITION OF HIGHER EDUCATION INSTITUTIONS http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/287 <p>The article raises questions about the state and problems of the internal quality assurance system of higher education in Ukrainian universities, in particular, the implementation and use of quality standards. The main purpose of the study is the scientific and methodological justification of organizational and economic mechanisms of monitoring and implementation of quality standards in the educational process, influencing the commitment of applicants to higher education institutions and ensuring their competitive position in the context of integrating higher education quality into the European educational space. The systematization of literature sources indicates an insufficient level of research on management strategy in higher education institutions, based on the principles and conditions of application of quality standards, their integration into the quality management system of the educational process. The urgency of solving this problem is that the higher education sector is extremely important and strategic for the national economy and society in particular. During the establishment of Ukraine's independence, the field of higher education has grown significantly, the education market has undergone significant changes, as a result of competition between higher education institutions is growing and becoming galloping. These factors, as well as the globalization and integration of Ukraine into the European space, indicate the urgent need to develop and improve the external and internal quality management system of the educational process. The article proves that satisfaction with the quality of educational services affects the applicant's commitment to higher education. The algorithm of continuous monitoring of the level of quality of educational services is researched and offered. Based on the analysis of indicators of quality of provided educational services and relevance of relationships with applicants, a matrix of relationships is proposed, which allows a higher education institution to choose a student-oriented strategy of behavior in the market of educational services. The study concludes that increasing students' commitment to universities and ensuring their competition while integrating the quality of higher education into the European educational space. This is possible with the persistent implementation of quality standards, overcoming resistance to new priorities, attracting a wide range of stakeholders to implement and monitor educational programs, implementing student-centered learning, increasing the attractiveness of educational programs, studying feedback on learning quality from applicants, labor market analysis and demand for learning, forecasting and planning competencies and learning outcomes.</p> Kuzmаk Oleh Copyright (c) 2022 Кузьмак О.І. https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 58 65 10.36910/6775-2308-8559-2022-1-7 IMPLEMENTATION OF QUALITY MANAGEMENT SYSTEM IN HIGHER EDUCATION IN UKRAINE http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/288 <p>The relevance of the study is due to the deepening globalization processes, Ukraine's integration into the European educational space, which contributes to the reform of higher education in Ukraine. That is why it is important today to study the existing experience in implementing the quality management system of higher education in Ukraine, taking into account foreign experience and research of regulatory and legal aspects on this issue. The experience of development and implementation of mechanisms for managing the internal quality assurance system of higher education in higher education institutions of Ukraine is studied. The normative-legal regulation on the management of both external and internal quality assurance systems of higher education in Ukraine is analyzed. A particularly important aspect in the management of the internal quality assurance system of higher education and its monitoring is the development and implementation of internal regulations (regulations, procedures, etc.) that would ensure the formation, construction, regulation of internal quality assurance procedures in higher education. That is why the strategy (policy) and procedures for ensuring the quality of education should be formed by the HEI independently, taking into account all elements of the education quality assurance system, legal requirements, based on its autonomy and principles of transparency.</p> <p>An assessment of the coordination of internal quality assurance systems in Ukrainian universities was conducted. It is determined that the new way of accreditation of educational programs has given a significant impetus to the development and implementation of Ukrainian universities, internal regulations or procedures to regulate the process of conducting surveys. But it is necessary to clearly understand that there are no universal methods of quality management today, each university goes its own way to build an internal quality system. The results of the research can be useful for the effective construction of the quality system in domestic universities, where first of all the awareness of the culture of quality and academic integrity in academic communities should be formed.</p> Kuzmak O. Copyright (c) 2022 Kuzmak O.M. https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 66 71 10.36910/6775-2308-8559-2022-1-8 IDENTIFICATION AND CLASSIFICATION OF LOGISTIC PROCESSES OF A MANUFACTURING ENTERPRISE http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/289 <p>Logistics is the most efficient, market-oriented mechanism for implementing economic transformation. The logistics process is a purposeful sequence of actions that combines logistics functions aimed at achieving the goal of logistics activities.</p> <p>The purpose of the article is to identify the logistics processes of industrial enterprises and define the main features of their classification.</p> <p>It is substantiated that processes as an element of the system consist of operations and functions. Each process can be described by its inherent characteristics. These include: process name, objectives, structure, inputs, outputs, suppliers, customers, attributes, performance indicators, and process manager (owner).</p> <p>It is noted that the leader (owner) of the process is a person who understands the logic of the process, plans it, monitors its implementation, monitors and takes measures to improve its efficiency. The role of the leader (owner) is crucial for the effectiveness of the process. He is the person responsible for the results and has the right to make the necessary changes. The tasks of the leader (owner) of the process are as follows: to formulate the goals of the process; determine plans for the development of the process; identify the necessary resources; monitor the results of the process; identify areas and ways to improve the process; lead a conflict reduction team; solve problems that arise between organizational units involved in the process.</p> <p>The article classifies logistics processes according to various features: phases, functions, level of data aggregation, type and nature of logistics processes, nature and level of decision making, concept of value chain, frequency of logistics processes, method of their implementation, form and scheme of implementation. Logistic processes within the specified functions are identified.</p> <p>It is proved that logistics processes are aimed at coordinating material and information flows, and their main task is to coordinate these flows with other processes occurring in the enterprise. The availability of certain logistics processes depends on the specifics of the enterprise and is individual for each of them.</p> Lipych. L. Copyright (c) 2022 Lipych L.G. https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 72 79 10.36910/6775-2308-8559-2022-1-9 DIGITAL SKILLS OF UKRAINIANS: RESULTS OF SELF-ASSESSMENT, CONCLUSIONS AND MEASURES FOR OVERCOMING DIGITAL INCLUSION http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/283 <p>This article is devoted to the reasoning of the usefulness of investigation of digital skills formation processes in the context of digital economy. The current state of governmental and scientific research of the level of digital skills of Ukrainians was critically assessed. The results of extensive empirical analysis of digital skills of Ukrainians were demonstrated. The analysis was conducted based on the respondents’ responses on a survey within the scope of a conjoint research project of Kyiv Vadym Hetman National Economic University and HUAWEI entitled “Digital economy, the influence of information and communication technologies on human capital and formation of competencies of future”. The purpose of the research is enhancing and refining existing conclusions and recommendations through addressing results of self-assessment of level of digital skills which depended on social and demographic characteristics of respondents. The viability of influence of these predictors on the level and differentiation of digital skills was empirically proved. The level of digital skills was identified based on the results of empirical data processing realized with the help of special program package Statistical Package for the Social Sciences (SPSS). In order to achieve this aim, contingency tables were created and analyzed. The analysis of level of digital skills was conducted based on criteria of minimal level of proficiency (general analysis) and in terms of five applicable spheres: information literacy and skills of working with data, communication and collaboration, creating of digital content, problem solving, cyber security. The age, gender, specialty and income level of respondents were considered as viable predictors for digital skills level differentiation. The identified digital gap (differentiation of level of digital skills) helped to prioritize areas for formation of digital skills, namely: problem solving and cyber security. The list of “digital vulnerable groups” of population was determined, as follows: people of mature (36-45 years), pre-pension (55-65 years) and pension (over 66 years) age; women; people with education in the fields of knowledge such as “Military Sciences and National Security”, “Humanities and Arts”, “Agricultural Sciences and Veterinary Medicine”, “Biology and Health”. Although income level does not influence significantly on the level of respondents’ digital skills, the opportunity of increasing in income level in case of higher level of digital skills proficiency may be used as a motivator of their formation and improvement. The results of investigation and proposed recommendations aimed at overcoming digital inclusion are of primary value for the Ministry of Digital Transformation, other governmental and associative institutions, representatives of science and education. The research results would be of value for planning and implementing measures directed at increasing the level of digital skills of Ukrainians.</p> Ligonenko L. Copyright (c) 2022 Ligonenko L. https://creativecommons.org/licenses/by/4.0/ 2022-03-09 2022-03-09 1 1 21 34 10.36910/6775-2308-8559-2022-1-3 APPLIED ASPECTS OF APPLICATION OF THE CONCEPT OF SOCIALLY RESPONSIBLE MARKETING http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/284 <p>The article considers the implementation of the concept of socially responsible marketing in today's business environment. Systematization of literature sources showed insufficient integration of socially responsible marketing in the activities of domestic enterprises. It is proved that the development of entrepreneurship is inextricably linked with the formation of a socially oriented business environment. This will be greatly facilitated by the introduction of the concept of socially responsible marketing in the activities of economic entities. It is argued that the main elements of socially responsible marketing should be considered in conjunction with the concept of corporate social responsibility and provide for the coordination of the following factors: achieving economic goals, meeting consumer needs, ensuring long-term interests of society. The economic and social role of socially responsible marketing in the development of business entities is defined and revealed. The research of problems of integration of social responsibility of business into strategic management of activity of the enterprises is generalized. The presence of a social component in the business strategy is a necessary condition for its successful implementation and long-term socially responsible interaction with the external environment. Emphasis is placed on the need to adapt the traditional marketing complex to the principles of social responsibility, which will allow to form a targeted comprehensive program to reconcile the interests of the enterprise, consumers and society. The expediency of conducting further in-depth research of the social component of marketing and its role in the formation of social guidelines for domestic enterprises is substantiated. The implementation of socially oriented programs will contribute to the sustainable development of the company's business, taking into account the interests of all market participants.</p> Morokhova V. Boyko O. Copyright (c) 2022 Morokhova V., Boyko O. https://creativecommons.org/licenses/by/4.0/ 2022-03-09 2022-03-09 1 1 35 41 10.36910/6775-2308-8559-2022-1-4 STUDY OF EFFICIENCY OF LABOR AND CAPITAL COSTS IN AGRICULTURAL, FORESTRY AND FISHERY OF UKRAINE USING THE PRODUCTION FUNCTION http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/293 <p>The article is devoted to the study of resource efficiency at the meso level using the production function. The aim of the study is to evaluate the efficiency of labor and capital costs for agricultural, forestry and fisheries enterprises on the basis of the built model of the Cobb-Douglas production function. The parameters and the model of Cobb-Douglas production functions for agricultural, forestry and fisheries enterprises are calculated according to the statistical data for the period 2012-2020 and the main characteristics of the production function are calculated. It is determined how many manufactured products (goods, services) account for an average of UAH 1 per research period. labor costs (UAH 13.78) and UAH 1. capital costs (UAH 2.65), ie 5.2 times less. It is established how many additional hryvnias of manufactured products (goods, services) each additional hryvnia brings labor costs (UAH 12.22) and each additional hryvnia costs for fixed assets (UAH 0.13), ie 94.0 times less. It is calculated by what percentage increases the volume of output (goods, services) with an increase in labor costs by 1% (0.89%) and with an increase in fixed costs by 1% (0.05%), ie in 17.8 times less. It was found that for enterprises in agriculture, forestry and fisheries of Ukraine, the built production function has a declining return on scale and economic growth is not observed. Compared with the classical model of the Cobb-Douglas production function for the US economy for 1899-1922, for the model of the production function constructed by us, the ratio of parameters a1: a2 is not 3: 1, but 18: 1, but the condition a1&gt; a2 is preserved. in human capital has a greater effect on the growth of production compared to investment in capital in 18 times.</p> Oksana Nuzhna Nataliia Tluchkevych Copyright (c) 2022 Oksana Nuzhna, Nataliia Tluchkevych https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 109 114 10.36910/6775-2308-8559-2022-1-13 CURRENT TRENDS IN THE DEVELOPMENT OF THE CONTROL FUNCTION OF ACCOUNTING http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/294 <p>The article examines the impact of modern challenges and phenomena in the economy of Ukraine on the development of the control function of accounting. The expansion of the functions and tasks of accounting increases its importance to ensure the effective operation of the enterprise and requires more thorough study. The main purpose of the article is to study the theoretical and practical aspects of the development of the control function of accounting in terms of changing the regulations of business and accounting, the management structure of various organizational forms, adjusting information requests from management.</p> <p>Accounting is a special economic science because it contains a large legal component and is sufficiently regulated. At the same time, Ukrainian&nbsp; legislation does not contain a definition of "accounting function". In Ukrainian&nbsp;&nbsp; accounting science we observe quite different interpretations of accounting functions and their composition.</p> <p>Research has shown that some scholars limit the value of the control function of accounting, or even deny its existence. We can not agree with this opinion, because in the process of accounting, compilation and processing of primary documents, consolidated registers and reporting errors and violations in the implementation and documentation of business transactions, which has a preventive role in preventing violations.</p> <p>It is established that in the current conditions of economic development, accounting does not lose its control function, but rather strengthens it. Under the influence of both objective and subjective factors, accountants are increasingly performing control procedures previously inherent in other departments.</p> Kuzmak O. Chudovets V. Copyright (c) 2022 Kuzmak O., Chudovets V. https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 114 119 10.36910/6775-2308-8559-2022-1-14 THE ESSENCE OF FINANCIAL INCLUSION AND ACCESSIBILITY TO FINANCIAL PRODUCTS http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/297 <p>The article analyzes the essence of financial integration and availability for financial products. The relationship between financial integration with the concept of sustainable finances is determined. The relationship of financial inclusion with financial literacy to increase investment activities is investigated. The features of the digitalization of the financial system, in particular, modern technology of banking and insurance sectors are defined. Important areas of strengthening financial inclusion in Ukraine are investigated. Important directions of strengthening of financial inclusion in Ukraine are investigated. The main purpose of the study is a systematic study of the essence of financial inclusion and accessibility for financial products. The systematization of literary sources and approaches to solving the problem lies in the fact that we have an analysis of domestic scientists, which gave different approaches to interpretation of the term "financial inclusion", but we did not see the only vision. The relevance of solving this scientific problem is that the essence of the concept determines the preconditions for practical measures for the availability of financial products (banking and insurance services) in modern development conditions. The study of the topic of financial inclusion and availability of financial products in the work is carried out in such a logical sequence: determination of the term "financial inclusion" on the basis of comparative analysis, the impact of financial literacy on financial inclusions, the impact of COVID-19 on the dissemination of financial products in Ukraine, the main preconditions for financial inclusions are determined , determining the availability of structural divisions of banking institutions in Ukraine and their products, research on the influence of modern technologies for financial inclusion. Methodological tools of research methods were the last few years of research. The object of research is the processes associated with the spread of financial inclusions and financial literacy, because they will ensure the development of banking and insurance sectors of the financial system in the near future. The article presents the results of empirical analysis of financial inclusions and accessibility to financial products, in particular, to deposits attracted by deposit-taking corporations, and loans granted by deposit-taking corporations, which showed that the availability of structural divisions of banking institutions in Ukraine tends to decrease. The research empirically confirms and theoretically proves that the development of financial inclusions is possible only in the context of the development of dytety of financial processes in terms of introducing innovative technologies for various devices. The results of the research may be useful for practitioners, for civil servants, for scientists dealing with financial products and banking sector, for higher education and administration education.</p> Vadym Polishchuk Lesia Ishchuk Copyright (c) 2022 Vadym Polishchuk, Lesia Ishchuk https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 135 143 10.36910/6775-2308-8559-2022-1-17 PROJECT FINANCING AS A TOOL FOR LOANING INVESTMENT PROJECTS http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/298 <p>The article summarizes the issue of project financing as a tool for lending to investment projects. The main purpose of the study is the development of project financing as an effective form of lending for investment projects, consideration of methods for assessing the probability of default of investment projects. Systematization of literature sources and approaches to solving the problem of risk management in project financing, the use of project financing as a tool for lending to investment projects shows that project financing agreements are longer and designed for riskier borrowers than conventional agreements. The urgency of solving this scientific problem is that there is a high need for project funding for the development of economic processes in Ukraine in general and in the implementation of national projects, in particular, and insufficient development of methodological issues in its use. The study of the topic of project financing as a tool for lending to investment projects in the work is carried out in the following logical sequence: determining the purpose of project financing; substantiation of peculiarities of project financing agreements; formulation of the structural scheme of project financing with the definition of participants in the investment project; determining the necessary conditions for the implementation of the project financing scheme; indication of the advantages of project financing, which distinguishes it from other forms of financing; determining the specifics of risk assessment of project financing; systematization of each of the risk groups; coverage of quantitative indicators that characterize the credit risks of investment projects; substantiation of methods for estimating the probability of default of investment projects using foreign experience; identification of unresolved issues in the use of project financing schemes; generalization of the advantages of project financing and their detailed consideration with the formulation of conclusions.</p> <p>The following methodological tools are used in the work: dialectical method of cognition, as well as evolutionary-system approach to the analysis of economic situations and phenomena using the principle of unity of historical and logical, methods of comparative economic analysis. The object of research is investment projects with available information. The study empirically confirms and theoretically proves that the main advantages of project financing as a tool for lending and servicing investment projects are: for project initiators - to attract a wide range of creditors and increase project opportunities, despite limited own funds; for creditors - in ensuring the reliability and return on investment by studying the detailed information provided on the project. The results of the study can be useful for the use of project financing as one of the main tools of state participation in the regulation of the investment sphere.</p> Ryazanova N Copyright (c) 2022 Ryazanova N https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 143 151 10.36910/6775-2308-8559-2022-1-18 EUROPEAN TRENDS AND PROSPECTS FOR FINANCING HIGHER EDUCATION AND SCIENCE http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/299 <p>The article addresses a global trends of financing of the education and science as a branch of the economy. The main purpose of this academic publication is to analyze foreign approaches to reforming higher education and science, the state of financing of education and science, with particular attention to the experience of the Republic of Poland, as well as to identify new principles and prospects for applying modern approaches towards the financing of higher education in Ukraine.</p> <p>The relevance of this study is connected with the fact, that the permanent reform of the Polish higher education system, including regulatory and legal framework, ensures a step-by-step Europeanisation of the Polish higher education system, where the latter becomes a contemporary trend in Ukrainian higher education sector. It is worth to emphasize that the development of qualitative higher education, world-class research to ensure economic security and socio-economic progress of society requires the development elaboration of a strategic approaches as focusing on the creation of backgrounds for investing in education and science and effective economic policy in this area.</p> <p>An analysis of the expenditures in research and development as well in higher education in some countries of Central and Eastern Europe, and of the EU-28 has been conducted showing, that e.g. the financial indicators of the Republic of Poland in 2018 occupy an average position, namely 0.75% are expenditures on higher education from public sources in the structure of GDP (6224,96 million US dollars), and the share of expenditures on research and development research work in GDP has a tendency to increase (in 2007 these expenditures amounted in Poland 0,56% of the GDP, and in 2019 – 1,32% GDP, while in the EU-28 – 1,77% GDP and 2,14%, GDP respectively).</p> <p>Worldwide countries prioritize the development of higher education and science as components of the national economy, as an important factor for their social development and economic progress. Each country forms an own development strategy and differently approaches towards financing the higher education. While researching reform processes and financial indicators of in the R&amp;D area and in higher education system in the Republic of Poland, it can be argued that this is an example of successful transformations in the field of higher education. Thorough legislative changes, integrated information management systems, high-quality and detailed statistical information, positive dynamics of financial indicators are the foreign experiences that the Ukrainian government shall consider in the permanent process of alignment of Ukrainian higher education system to the European integration requirements.</p> Svitlana Sas Copyright (c) 2022 Svitlana Sas https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 152 161 10.36910/6775-2308-8559-2022-1-19 IMPACT OF COVID-19 ON THE ECONOMIC STATE OF THE HOTEL AND RESTAURANT BUSINESS http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/295 <p>The article considers the key problems, changes and limitations in the activities of the hotel and restaurant industry in the period of Covid-19. We also consider statistical data that provide an idea of the state and trends in the hotel and restaurant business in Ukraine during the pandemic. The impact of the coronavirus pandemic (COVID-19), which caused huge disruptions in the work of enterprises in various industries, was analyzed. A number of problems faced by the hotel and restaurant business in Ukraine have been identified. Practical proposals for overcoming the crisis are provided, the implementation of which will reduce the negative impact of the pandemic. Coronavirus has caused serious damage to the hotel and restaurant business in Ukraine and it may take more than a year for the sector to recover. As a result, almost the entire world economy has cracked. Many sectors of the economy around the world have lost their positions, and millions of people have lost their jobs. All this has a negative impact on people's well-being, their financial situation and can lead to a major economic crisis.</p> <p>In addition, severe restrictions were imposed on the socio-cultural sphere of life. These include, for example, a ban on attending public holidays / sports events, closing shops, cafes, salons, hotels, etc., restrictions on movement within the country and abroad. The domestic hotel and restaurant business was one of the first to feel the consequences of quarantine. This is one of those industries where there is fierce competition for a place "under the sun" and there is a need to constantly evolve to meet all the desires of customers.</p> <p>Due to quarantine, people were forced to forget about travel, borders were closed, and travel agents were forced to reimburse their clients for booked tours. Quarantine measures have almost completely stopped such sectors of the economy as the hotel and restaurant business, air transport, retail and more.</p> Kovtunenko Yu. Palzhok N. Tarutina P. Babynina M. Copyright (c) 2022 Kovtunenko Yu. , Palzhok N., Tarutina P., Babynina M. https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 120 126 10.36910/6775-2308-8559-2022-1-15 MANAGEMENT INNOVATION IN THE SYSTEM OF MODERN BUSINESS DECISIONS http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/296 <p>This article summarizes the question of finding effective solutions to ensure the excellence of modern business through the introduction of managerial innovations. The main purpose of the study is to improve the theoretical and methodological approach to the implementation of managerial innovations in the system of modern business solutions. Systematization of literature sources and approaches to solving the problem of improving business management through the introduction of managerial innovations indicates the widespread use of methodological approaches and methods of managerial innovation, but much management issues to ensure business excellence, justification of new opportunities for its development remain unnoticed. The urgency of solving this scientific problem is that in conditions of growing uncertainty and risk, accelerating the transformation of business, the importance of ensuring its perfection in the long term economic development of Ukraine is growing. The methodological tools of research methods were a system of methods used to obtain the final results of the study: generalization and comparative analysis – to clarify the essence of the concept of «managerial innovation»; abstract-logical – to reveal the relationship between the use of information and communication technologies, business excellence and implementation of management innovations; system-analytical – in developing a model of business excellence based on the use of modern information and communication technologies. The object of research is the industrial enterprises of the modern economy of Ukraine, because they are the basis of economic formation, a source of replenishment of the country budget and form the export orientation of business. The article presents the results of abstract-logical analysis of the blocks of business excellence, which showed that at the present stage of its development, the introduction of managerial innovations should be associated with the digital transformation of business. The results of the system-analytical analysis are presented, which are the basis for the development of an economic model for business excellence. The results of the study can be useful for business structures (and in particular, business units of the industrial complex of Ukraine), which seek to increase the efficiency of decision-making in today's digital business transformation.</p> Igor Kryvovyazyuk Copyright (c) 2022 Igor Kryvovyazyuk https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 127 134 10.36910/6775-2308-8559-2022-1-16 INTERNATIONAL TRADE AS A POWER AFFECTING CURRENCY QUOTING http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/290 <p>The phenomenon of the exchange rate, as the basis for foreign economic activity, is one of the main features of the current stage of development of world economic relations. Currency quotation, as a direct mechanism for implementing and servicing the exchange rate, is a critical area of ​​macroeconomic policy for each country. Therefore, the study of the influence of traditional factors of exchange rate formation is an important source of information on the state of the national economy in general, and its strategic orientation in particular.</p> <p>The British pound sterling is the oldest currency in the world that is still in circulation. In the Forex market, transactions with the British pound are among the largest in volume. These facts determine the convenience of choosing this currency as a basis for economic and mathematical analysis.</p> <p>The main purpose of the study is to analyze the basis of the correlation of the quotation of the pound sterling in relation to the indicators of foreign economic activity of the country; identification of the impact of changes in foreign economic activity on the currency quotation of the British pound; identification of the impact of Brexit on the correlation of the currency quotation of the British pound and the country's foreign economic activity in relation to the analyzed counterparties; comparison of the received economic-mathematical and logical tendencies.</p> <p>To achieve this goal, a set of general scientific and special research methods was used, the application of which ensured the soundness, objectivity and reliability of the provisions presented in the article and the conclusions formulated. In particular, the following methods were used: systematization and generalization, scientific abstraction and explication, analysis, induction, econometric modeling, methods of descriptive statistics and visual analysis.</p> <p>The article examines the peculiarities of the impact of changes in foreign economic activity on the currency of the British pound against other currencies of the SDR basket, including the Japanese yen, Chinese yuan, US dollar and euro. The influence of Brexit, as a critical moment in the country's foreign economic activity, on the correlation of the currency quotation of the British pound and the country's foreign trade relative to the analyzed counterparties is revealed. The obtained mathematical and logical tendencies of economic-mathematical analysis are also compared.</p> <p>The article substantiates the expediency of conducting the monetary policy of the state, based on the indicators of foreign economic activity of the country, taking into account the peculiarities of the history of exchange pairs and current market conditions.</p> <p>The results of the study can be useful for developing scientifically sound recommendations for improving the country's monetary policy.</p> Olena Baula Sarzhan Y. Copyright (c) 2022 Olena Baula, Sarzhan Y. https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 80 89 10.36910/6775-2308-8559-2022-1-10 ON THE WAY TO THE DIGITAL STANDARD OF THE WORLD CURRENCY SYSTEM http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/291 <p>The article summarizes the issue of transition to a new standard of the world currency system in the context of the world financial crisis 2008. and the crisis caused by COVID-19. The main purpose of the study is to analyze the problem of transition under the influence of a number of fundamental factors to the new (digital) standard of the world currency system. Systematization of literary sources and approaches to solving this problem showed that in the first post-crisis years most authors focused on the need to modernize the world currency system based on the paper-dollar standard. However, in the following years, scientific searches moved towards justifying the transition to a digital standard. This indicates that the global monetary system is waiting for a cardinal "break" and a quick transition to a new standard. The urgency of solving this scientific problem is that the transition to the digital standard will prevent in the future many crisis situations. The study of the problem is carried out in the following logical sequence: first analyzed the fundamental factors that transform the world monetary system, and then conducted a comparative analysis of possible variants of its transition to a new standard. Methodological tools of the study were: system approach, methods of analysis and synthesis, historical, logical generalization, comparison, etc. The object of the study is the standards of the world monetary system, and the subject - the choice of the optimal standard. The article highlights the factors that make it necessary to move to this standard, namely: strengthening China's military-economic potential; US government debt growth; the need to overcome the consequences of financial and economic crises; excessive emission of reserve currencies; Electronics of cash circulation. Their analysis showed that the possible options for the optimal standard of the world currency system are the following: return to the gold standard; introduction of so-called "free money"; transition to binary cash equivalents; creation of currency alliances; increasing the role of the world currency, special borrowing rights; creation of the world electronic currency; go to virtual money. The study confirms and theoretically proves that the optimal standard of the world currency system for the coming decades should be the standard of electronic money. The results of the study can be useful in terms of preventing the devastating consequences of global financial and economic crises.</p> Zakharchenko V. Copyright (c) 2022 Zakharchenko V.I. https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 90 99 10.36910/6775-2308-8559-2022-1-11 TAKING INTO ACCOUNT OF EUROPEAN EXPERIENCE OF SOCIO-ECONOMIC DEVELOPMENT OF RURAL AREAS FOR UKRAINE http://e-forum.lntu.edu.ua/index.php/ekonomichnyy_forum/article/view/292 <p>The article summarizes issues related to socio-economic development of rural areas. Systematization of literature sources and approaches to solving the problem of development and functioning of rural areas suggests that they need to study issues related to clarifying the main trends in rural development in Europe, as well as substantiate the prospects for rural development in Ukraine. Accordingly, the aim of the article is to study the features of socio-economic development of rural areas in the EU and study the priorities of socio-economic development of rural areas for Ukraine. The methodological tools of the study were: the method of analysis and synthesis, abstract-logical method, graphic method. The study of the peculiarities of the European experience of socio-economic development of rural areas revealed that European countries have such models of development as sectoral, which features equalization of income with other industries, increasing production and its intensification, redistribution, which reduces differences between backward rural and urban areas and territorial, which is focused on using the internal potential of rural areas and supporting investment in agricultural production. The article states that the main trends in socio-economic development of rural areas of European countries are diversification of production, preservation of rural landscapes, improvement of social and technical infrastructure in rural areas, rural tourism, specialized credit and insurance system, government support and specially created funds. It was found that in European countries there are such funds as the European Agricultural Fund for Rural Development, the European Social Development Fund, the European Maritime and Fisheries Fund, the Cohesion Fund. The study found that the main priorities for Ukraine's socio-economic development of rural areas are the inclusion of land in material and monetary circulation, land transactions, taking into account estimates, expanding international corridors, adherence to the concept of sustainable development, increasing additional investment, reducing energy costs, products, implementation of research results in practice, strengthening the role of local self-government, subsidized management, qualified training and retraining, investment attractiveness of production, introduction of a synergetic approach, expanding markets for agricultural products, regulation of rent payments in different agro-climatic zones, etc. The results of the study can be used in the activities of local governments and regional development.</p> Lazarieva O. Copyright (c) 2022 Lazarieva O. https://creativecommons.org/licenses/by/4.0/ 2022-03-13 2022-03-13 1 1 100 108 10.36910/6775-2308-8559-2022-1-12