Acta Academiae Beregsasiensis. Economics
Scientific journal "Acta Academiae Beregsasiensis. Economics" (AABE) was founded in 2022 by the Ferenc Rakoczi II Transcarpathian Hungarian College of Higher Education (FR II THCHE). The purpose of the scientific publication "Acta Academiae Beregsasiensis. Economics" is coverage of fundamental and applied scientific research results, necessary for the defense of dissertations for obtaining the scientific degrees of PhD and Doctor of Sciences. The journal covers the theoretical and practical perspectives on the current problems in finance, accounting, analysis, auditing, taxation, management at micro, regional, and macro levels. The journal accepts articles in the following specialties: C1 Economics D1 Accounting and Taxation D2 Finance, Banking, Insurance, and Stock Market D3 Management Articles are accepted in Ukrainian, Hungarian and English. The scientific journal is a peer-reviewed publication that supports the policy of open access to scientific publications.
Закарпатський угорський університет імені Ференца Ракоці II
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons CC BY-NC License.
The Accounting System in Ukraine and Forecasting the Trends of Its Development
This article is devoted to analyzing the current accounting system in Ukraine and understanding the key trends in its development. The purpose of this article is to analyze current trends and patterns in the development of accounting in Ukraine, to understand their impact on improving the efficiency of enterprise management systems, and to develop sound recommendations for further improvement of the accounting system, taking into account global challenges and the growing needs of modern managers. The article provides a comprehensive analysis of the current accounting system in Ukraine, taking into account the transformations that have taken place over the past decades under the influence of socio-economic changes, integration into the global economy, and adaptation to international standards. It examines the comprehensive impact of globalization processes, rapid digitalization, and the irreversible process of harmonization with international financial reporting standards on the formation of the Ukrainian accounting model. It explores the evolution of the role of accounting from simple recording to its transformation into a key element of the enterprise management system. The structure and functional features of the Ukrainian accounting system are considered, its regulatory and legal framework, including the Law of Ukraine “On Accounting and Financial Reporting in Ukraine,” national accounting regulations (standards) (NP(S)BO), and their relationship with International Financial Reporting Standards (IFRS). An analysis of the main challenges and prospects for its improvement is carried out, with an emphasis on the application of information technologies, artificial intelligence, and blockchain, which are already radically changing accounting processes today. The article is based on an analysis of current scientific sources and practical aspects of the implementation of innovations in accounting in Ukraine, as well as research into key aspects of its transformation and development in Ukraine. Particular attention is paid to the issues of digitization of accounting processes, the development of automation software, and the impact of new technologies on the changing role of accountants. The study highlights the main trends in the development of accounting in Ukraine: increased transparency and accountability, the growing importance of non-financial reporting, ESG reporting, and integration with digital platforms of the government and the banking system. A forecast for the coming years is proposed regarding the further harmonization of accounting standards with international standards, the active introduction of digital tools, and the growing demand for highly qualified specialists capable of working in the digital economy and global interaction.
Copyright (c) 2025 Olena Boyarova, Yaroslav Haponchuk https://creativecommons.org/licenses/by-nc/4.0
Accessibility of MTPL Insurance in Ukraine in the Context of Adaptation to EU Standards
The article is devoted to analyzing the accessibility of compulsory motor third-party liability insurance (MTPL) in Ukraine in the context of adapting regulatory requirements to the standards of the European Union, which is a relevant task within the framework of European integration reforms. MTPL plays a key role in ensuring social protection and road safety, based on insurance principles, particularly accessibility, which implies an economically justified cost of policies for all vehicle owners. However, recent changes in regulatory legislation aimed at harmonizing with European norms have led to a significant increase in insurance service prices, causing public outcry and discussions about their appropriateness. This price growth potentially limits the accessibility of insurance for a large part of the population, contradicting the social goals and the balance between quality and affordability enshrined in European standards. The study emphasizes the insufficient attention paid to the impact of regulatory changes on MTPL accessibility, which complicates the assessment of their effect on the economic behavior of vehicle owners and the effectiveness of the insurance system. The analysis is based on a review of academic works by Ukrainian and European researchers, which highlight the principles and features of motor liability insurance. Special attention is given to the role of the deductible as a tool for reducing policy costs, which remains an effective mechanism for differentiating insurance products in many EU countries. The dynamics of the MTPL market in Ukraine demonstrate complex trends, including the impact of wartime conditions and rising prices, which have affected premium volumes and the number of concluded contracts. To address the outlined challenges, the article proposes new approaches to assessing the accessibility of insurance services, in particular by developing indicators of insurance burden relative to the average and minimum monthly wages, as well as an insurance affordability index that accounts for the average age of vehicles. These indicators allow for identifying the financial strain on the population and for considering socio-economic factors such as the aging vehicle fleet. The analysis underscores that although the reforms aim to increase compensation limits, they may distort the social nature of insurance, shifting the focus away from the needs of policyholders. The conclusions of the study emphasize the need to improve pricing policy toward reducing the cost of insurance services while considering the intensity of the insurance burden. Future research should focus on the practical application of the proposed indicators based on the motor insurance markets of Ukraine and the EU.
Copyright (c) 2025 Yuliia Verheliuk, Mykhailo Hantsiak, Antonina Boldova https://creativecommons.org/licenses/by-nc/4.0
Сash-Based and Accrual-Based Accounting in Non-Profit Organizations: a Neo-Institutional Perspective
The purpose of this study is to substantiate changes in the accounting practices of non-budgetary non-profit organizations caused by the application of either the accrual method or the cash method, using the analytical framework of neo-institutionalism. The article explores the specifics of forming the accounting basis for non-budgetary non-profit organizations amid the transformation of the third sector of the economy, driven by social challenges and globalization processes. The accounting basis, which encompasses both the cash and accrual methods, is interpreted in Western theory as a key element of accounting methodology that defines the principles of recognition, measurement, and representation of financial transactions. To explain contemporary changes in accounting practices, the study applies neo-institutional theory, particularly the concepts of legitimacy and isomorphism. Within this theoretical framework, it is argued that the implementation of the accrual method in the operations of non-budgetary non-аprofit organizations is not merely a technical decision but a socially conditioned process comprising five stages: decision-making, data transformation, implementation, reproduction, and institutionalization. The article compares the advantages and disadvantages of the accrual and cash methods. A comparative analysis of financial management elements across commercial enterprises, public institutions, and non-budgetary non-profit organizations reveals the unique functioning of the latter and its impact on accounting practices. A neo-institutional approach is presented to analyze influencing factors and the stages of accrual method implementation in the accounting systems of non-budgetary non-profit organizations. The study also synthesizes international research findings on the use of the cash and accrual methods in various countries, including the United Kingdom, France, Australia, and New Zealand, where the cash method is permitted for small charitable organizations. The results confirm that the accrual method dominates contemporary accounting practices in non-budgetary non-profit organizations; however, its application requires critical reflection, considering the specific nature of the non-budgetary non-profit sector.
Copyright (c) 2025 Olha Vysochan https://creativecommons.org/licenses/by-nc/4.0
Tax Planning in Foreign Economic Activities of Enterprises: Scientific Interests of Ukrainian Scientists
Tax planning in the field of foreign economic activity of enterprises is an important tool for ensuring financial stability, effective management of tax obligations, and coordination of the interests of the state and business in a dynamic regulatory environment. This article is devoted to a theoretical understanding of the role of tax planning within the management system of foreign economic activity of enterprises, through an analysis of scientific publications by Ukrainian researchers. The main method used in the article is a bibliographical analysis of publications. This approach has made it possible to identify that the most extensively studied issues include state regulation of import operations, administration of value-added tax, customs accounting, and regulatory support of fiscal control. A significant number of publications are focused on the challenges caused by ambiguous legislative provisions regarding the taxation of export-import operations. It has been established that the topic of tax planning for enterprises engaged in foreign economic activity is presented fragmentarily, primarily within the framework of general methodological research developments. The study summarizes approaches to the taxation of foreign economic activity, highlights priority scientific topics based on quantitative indicators, and outlines the main areas of research. It was found that tax planning research covers methodological foundations of optimization, international aspects of planning, the use of offshore instruments, transfer pricing mechanisms, and the involvement of transnational companies in tax expense management processes. Particular attention is paid to tools such as the selection of tax jurisdiction, engagement of foreign economic activity specialists in economic and contractual processes, and the implementation of internal organizational solutions. The generalization of scientific sources' content allowed for the formation of a conceptual vision of the structure of tax planning in foreign economic activity as a tool for coordinating the interests of the state and business, which should be integrated into strategic enterprise management and comply with current tax and customs legislation.
Copyright (c) 2025 Oleh Vysochan, Alla Yasinska https://creativecommons.org/licenses/by-nc/4.0
Public Procurement Under Martial Law: Balance Between Flexibility and Transparency
The article examines the transformational processes in the functioning of public procurement under martial law, which has served as a catalyst for changes in the regulatory and legal framework of procurement activities. Particular attention is devoted to the analysis of regulatory legal acts, especially Resolutions of the Cabinet of Ministers № 169 and № 1178, which established the legal basis for simplified and special procurement procedures. Key changes are outlined, including the introduction of open tenders with specific features, the revision of value thresholds, the legalization of direct procurement, and the use of Prozorro Market – all of which have significantly influenced procurement structure and transparency. The article also identifies risks associated with the increased share of non-competitive procedures (94.3% of the total number of procurements), documented violations, and common corruption practices. The role of civil society organizations, particularly the Dozorro project, in conducting independent monitoring is emphasized, alongside the need to improve the control system through automated risk indicators and preventive audits. The international experience of Israel, the United States, and Poland in regulating procurement during crisis situations is analyzed, confirming the relevance of temporary procedural simplification while upholding fundamental principles of openness, accountability, and oversight. Key directions for further optimization are identified, including the mandatory disclosure of information on direct contracts, the establishment of clear criteria for flexible procedures, enhancing the effectiveness of post-audit mechanisms, and the development of a transitional procurement model to support full-scale recovery. The application of a comprehensive approach – combining digital tools, a robust regulatory framework, and effective oversight – is viewed as a key factor in ensuring the efficient use of public funds during wartime and the stable operation of the public procurement system in accordance with core governance principles.
Copyright (c) 2025 Dmytro Zakharov, Olha Fedorova https://creativecommons.org/licenses/by-nc/4.0
Sources of Financing for the Digital Transformation of the Financial System: International Experience and Realities of Ukraine
This study presents a comprehensive analysis of financing sources for the digital transformation of financial systems, drawing on global experience and the contemporary realities of Ukraine. The research seeks to systematize international practices in mobilizing resources for digital transformation, identify the advantages and limitations of key financing models - budget-oriented, public-private partnership, venture-innovation, international-grant, and self-financing - and evaluate their alignment with Ukraine’s current challenges to substantiate an optimal resource strategy for digitizing the national financial system. The methodological framework integrates a multi-method approach, combining comparative analysis of international practices, systematic assessment of financing models, case study methodology, and institutional analysis of regulatory frameworks. The study blends theoretical foundations with empirical evidence derived from diverse national experiences in financial sector digital transformation. Findings indicate that hybrid approaches—integrating multiple financing mechanisms - consistently demonstrate superior effectiveness, as illustrated by successful examples from developed economies. The results hold practical value for formulating national digitization strategies, shaping government policies, designing public-private partnership initiatives, establishing frameworks for international cooperation, and creating regulatory environments conducive to innovation. They are particularly relevant for developing economies, post-conflict states, and EU candidate countries. The study concludes that no universal financing model is optimal under all economic conditions, underscoring the need for context-specific hybrid approaches. For Ukraine, the most promising model combines sustained international financing with elements of public-private partnership and self-financing. Critical success factors include the adoption of a long-term digital development strategy, effective stakeholder coordination, investment in human capital, robust cybersecurity measures, and the establishment of a supportive regulatory framework.
Copyright (c) 2025 Yuliia Kovalenko, Sergii Krynytsia https://creativecommons.org/licenses/by-nc/4.0
Strengthening Financial Security Through Renewal of Institutional Protection of Budgetary and Banking Components
The article examines the theoretical foundations of strengthening the financial security of the state through the renewal of institutional support of the budget and banking components in order to ensure macro-financial stability. Attention is focused on the need to modernize the institutional framework for ensuring financial security due to the imperfection of regulatory and legal regulation, fragmented coordination between financial and state institutions, low level of adaptation to risks associated with external economic threats and internal imbalance of the financial system in conditions of martial law. It is emphasized that the institutional provision of financial security of the state comprehensively includes a system of state bodies, regulatory and legal mechanisms and procedures aimed at creating, preserving and protecting the financial and banking system of Ukraine from both internal and external threats. The impact of new challenges and threats to the macro-financial stability of Ukraine on changing the list of components of financial security, indicators of their measurement and threshold values is revealed. The main elements and tasks of institutional ensuring the financial security of the state are defined. The institutional provision of budget security is analyzed, approaches to its elemental renewal are proposed, and the advantages of introducing innovations to strengthen the financial security of the state are determined. Key functions and main current challenges for banking security in 2025 are identified. It has been proven that new challenges and threats to banking security contributed to the renewal of institutional provision of financial security. It is proposed to strengthen such an element as specialized structures to overcome market failures, due to the creation of a new financial institution – development bank. It is emphasized that development banks do not aim to maximize profits and are not obliged to pay dividends to private shareholders, which allows them to finance activities that bring long-term benefits to communities and the environment at favorable rates and in a financially justified manner. The system of state development banks of the EU is analyzed, the successful experience of their functioning in Germany and the countries of Central and Eastern Europe is given. It is substantiated that the systematic renewal of the institutional structure of the financial sector with an emphasis on synergy and balanced interaction of the budget and banking components is the key to increasing the financial security of Ukraine in the medium and long term.
Copyright (c) 2025 Tetiana Koliada, Yuriy Prozorov https://creativecommons.org/licenses/by-nc/4.0
Tax liability: Essence, Components, and Ways to Improve Compliance
The effectiveness of the tax system is ensured through the use of rational approaches to the performance of functions and tasks assigned to its constituent elements. An important means of achieving tax policy goals at the national level is the achievement of a high level of fulfillment by taxpayers of the obligations assigned to them. This fact determines the relevance of studying ways to improve economic entities' fulfillment of tax obligations through the prism of studying their constituent elements. As part of the conducted research, the presence of facts of tax evasion was established, which is confirmed by the results of the work of the relevant regulatory authorities. It was determined that the process of fulfilling tax obligations is influenced by the actions of all participants in tax relations without exception. To determine the set of measures that need to be taken to ensure voluntary tax payment, the constituent elements of tax obligation have been identified (understanding the legal aspects of activities and their consequences, obtaining tax status through registration actions, compliance with tax mechanisms, accounting for tax calculations and preparing tax reports, managing tax risks, combating corruption, supporting the concept of voluntary tax payment, etc.). It has been established that to improve the fulfillment by taxpayers of their obligations, it is necessary to take measures to: improve the mechanism for calculating and paying tax payments; strengthen the information and explanatory work of regulatory bodies and expand the scope of consulting services for taxpayers; improve the provision of services by regulatory bodies regarding the fulfillment of tax obligations by taxpayers; use of indirect control methods using analytical and digital tools; apply taxation principles that will stimulate voluntary tax payment; determine tax strategy and form tax policy by economic entities at the micro level; improving methodological approaches to identifying risky business transactions and assigning taxpayers the status of risky; introducing a moratorium on unfounded inspections of business entities; increasing penalties for non-compliance with tax legislation.
Copyright (c) 2025 Vasyl Kuz https://creativecommons.org/licenses/by-nc/4.0
Income of Athletes and the Multiplicative Effect: SAM-CGE Analysis
The global professional sports market has evolved from a leisure economy segment into a highly profitable industry. In certain countries, its share of the GDP exceeds two percent. However, current national accounting systems only partially record sports activity, which impairs the precision of macroeconomic assessments and increases the risk of inefficiently subsidizing infrastructure projects. This article aims to develop an integrated methodological framework that can quantitatively measure the economic impact of professional athletes by combining an analysis of their income structure with a multi-level evaluation of multiplier effects. This methodology relies on the combined use of a social accounting matrix (SAM) to calculate direct, indirect, and induced effects, computable general equilibrium (CGE) models to simulate long-term resource and price shocks, and the synthetic control method to verify results after the event. A human capital module and a tax incidence analysis complement the core design. The empirical dataset is compiled from the OECD, Eurostat, Transfermarkt, Forbes, and national tax registers. The study systematizes the ten main ways athletes generate income and ranks their contribution to gross value added quantitatively. The findings reveal that sponsorship agreements and media rights generate the highest multipliers, outperforming the creative and tourism sectors. However, the effectiveness of transfer fees and prize money depends on the recipient country’s tax regime. The proposed model allows for the evaluation of the fiscal impact of sports investments and the establishment of transparent reporting requirements for leagues and clubs. This article's scientific contribution lies in integrating three complementary methods—SAM, CGE, and synthetic control—into a single analytical construct that mitigates their individual limitations and ensures cross-country comparability. The results are practically relevant in that they have the potential to harmonize statistical standards, optimize fiscal mechanisms that support sports, and inform evidence-based economic policy for developing the sports industry.
Copyright (c) 2025 Tetiana Moiseienko, Valerii Golyk https://creativecommons.org/licenses/by-nc/4.0
The Role of Professional Skepticism in Ensuring Audit Quality: Ethical, Cognitive, and Behavioral Dimensions
This study examines professional skepticism as a multidimensional phenomenon within auditing practice, encompassing cognitive, ethical, and behavioral aspects of professional competence in auditing. It aims to develop a conceptual model of professional skepticism by identifying its structural components and the mechanisms through which it influences audit quality. The research employs a systematic approach to analyzing professional skepticism as a complex and multifaceted construct. The proposed conceptual model integrates cognitive, ethical, and behavioral dimensions as interrelated facets of auditors’ competence. The cognitive dimension includes critical thinking, analytical abilities, and flexibility in professional judgment. The ethical dimension reflects internal motivation to uphold independence and objectivity. The behavioral dimension is characterized by risk awareness and a readiness to take well-reasoned professional actions. Factors affecting the application of professional skepticism are systematized across three levels: personal (inquisitive mindset, ethical maturity, self-reflective capacity), professional (quality of education, practical experience, interdisciplinary training), and organizational (corporate culture, quality control systems, and incentive mechanisms). A typology of skeptical thinking is proposed, comprising four types—trusting, pragmatic, critical, and excessive—each described in terms of strengths, limitations, and practical recommendations for audit engagements. The findings offer practical implications for enhancing audit quality through improvements in auditor education and training, as well as the optimization of organizational processes within audit firms. The developed typology can be used to assess individual skeptical thinking patterns, facilitate the formation of balanced and effective audit teams, and guide the targeted development of professional competencies. Furthermore, the conceptual model may be incorporated into auditor education curricula, certification programs, and continuing professional development initiatives. The systematization of influencing factors provides a foundation for developing measures aimed at fostering an organizational culture that promotes critical thinking and ethical conduct among auditors. Professional skepticism is a critical determinant of audit quality, necessitating a comprehensive and integrated approach to its cultivation and advancement. Future research may focus on the development of empirical instruments for measuring professional skepticism and examining cultural differences in its expression across national auditing contexts.
Copyright (c) 2025 Nataliia Moskal https://creativecommons.org/licenses/by-nc/4.0
Modeling of the Enterprise Balance Sheet With the Purpose of Ensuring Compliance with Optimality Criteria
The scientific achievements of economists in the direction of the practical application of the modeling method in accounting are determined. The purpose of the study is to check the balance sheet of an enterprise for water abstraction, purification and supply for compliance with the optimality criteria and to construct an optimal balance sheet. To achieve the set goal, the following scientific tasks are defined: to form criteria by which the balance sheet can be considered optimal, as well as to develop clear algorithms for changing balance sheet aggregates to achieve compliance of the balance sheet with the specified optimality criteria without violating the basic balance sheet ratio ("Asset = Equity + Liabilities"). According to the financial statements of one of the enterprises for water abstraction, purification and supply, an aggregated balance sheet of the enterprise was formed for the end of 2023 and 2024. The necessary conditions are determined, that is, the criteria for an "optimal" balance sheet, taking into account the conditions of balance sheet liquidity, financial stability, and the need to cover long-term (non-current) assets with long-term capital. According to the first criterion of optimality of the balance sheet (balance sheet liquidity), current assets should be twice as large as current liabilities. The second criterion of optimality of the balance sheet (financial stability) assumes that equity exceeds debt. According to the third criterion of optimality of the balance sheet (the “left and right hand rule”), long-term (non-current) assets should exceed long-term capital (the sum of equity and long-term liabilities). The aggregated model of the balance sheet of the studied enterprise for water abstraction, purification and supply was checked according to the specified criteria of the “optimal” balance sheet. It has been established that the balance sheet of the enterprise at the end of 2024 meets the specified optimality criteria. Based on the aggregated balance sheet of the studied enterprise at the end of 2023, an optimal balance sheet was constructed to eliminate two financial problems (liquidity and the “left and right hand rule”). For this purpose, an algorithm for changing balance sheet aggregates was applied to achieve compliance of the balance sheet with the specified optimality criteria: adjusting the amount of current assets, balance sheet currency and equity.
Copyright (c) 2025 Oksana Nuzhna, Anna Kravchuk https://creativecommons.org/licenses/by-nc/4.0
Modernization of the Content of the Management Report in the Process of Implementing Sustainability Reporting
The paper examines the current state, challenges, and directions for modernizing the content of the management report in Ukraine in the context of introducing sustainability reporting in accordance with CSRD and the ESRS. Based on a comparative analysis of the provisions of the Methodological Recommendations for preparing a management report and Directive 2013/34/EU, a number of substantive and structural discrepancies have been identified that reduce the in formativeness of domestic reports and their alignment with European experience. It is established that domestic practice is characterized by a predominantly formal approach to report preparation, duplication of financial statement data, lack of adequate disclosure of the business model, key intangible resources, the structure of expenditures on research and innovation activities, and forecasts of their impact on performance, as well as insufficient description of risks and development prospects. Directions for improving the national Methodological Recommendations are proposed, including detailing requirements for disclosing strategic goals, key performance indicators, the business model, and value creation mechanisms, avoiding duplication of financial statement information, and integrating quantitative assessments of risks and forecast indicators. Implementation of the proposed changes will enhance the transparency, relevance, and comparability of the management report and strengthen stakeholder trust, ensuring the compatibility of the Ukrainian non-financial reporting system with European requirements. The prospects for further research are outlined, focusing on a deeper analysis of integrating the provisions of CSRD into the national regulatory framework, in particular refining the Methodological Recommendations to ensure the structural and content alignment of management reports with EU legislation, developing an optimal set of financial and non-financial key performance indicators for various economic sectors, and studying tools for increasing the long-term value of enterprises.
Copyright (c) 2025 Alla Ozeran, Renata Korshykova https://creativecommons.org/licenses/by-nc/4.0
Business Continuity Toolkit: A Managerial Aspect
The article explores the management tools for ensuring business continuity as a key element in adapting enterprises to changing conditions. The purpose of the study is to systematize threats, analyze management decisions, and develop recommendations for the effective maintenance of business continuity under conditions of instability. The research methodology is based on the analysis of scientific sources and the systematization of typical problems to develop tools for overcoming crisis situations. The difference between the concepts of “business resilience” and “business continuity” is analyzed, and the relevance of implementing effective business continuity measures is highlighted. Problems arising in the process of maintaining operational stability and the analysis of corresponding management decisions are systematized. The study considers both strategic and operational tasks in managing business continuity. Key challenges to business continuity are identified, including limited resources, resistance to change, lack of individualized staff motivation mechanisms, absence of transparent reporting, and insufficient risk control. To address these challenges, appropriate management tools are proposed to enhance business resilience, including implementation of training programs, risk assessment, scenario planning, and development of business cases involving company leadership. The results include the classification of key threats as well as the identification of strategic and operational management tasks. The scope of application covers enterprises operating in dynamic environments, particularly under conditions of military aggression and economic instability. The conclusions emphasize the necessity of integrating comprehensive management measures to strengthen business resilience, enable rapid response to external challenges, and ensure sustainable operation in crisis conditions.
Copyright (c) 2025 Maksym Oliinyk https://creativecommons.org/licenses/by-nc/4.0
Taxation and Shadowing of the Creative Sector: the Problem of Detection, Assessment, and Regulation
The article provides a comprehensive analysis of tax regulation in Ukraine's creative sector in the context of shadow economy issues, tax underpayment, and informal employment. Based on an interdisciplinary approach, the study addresses the theoretical foundations of the relationship between institutional trust, the structure of employment in creative industries, and the level of tax compliance. A conceptual model for assessing the degree of informality is proposed, which takes into account several factors, including the volume of legal employment, tax burden, types of economic activity, and institutional characteristics of regions. A comparative analysis of employment structure in the creative sector is carried out, allowing the identification of the most vulnerable industries to informalization, such as entertainment, music, performing arts, and advertising. The paper provides an analytical interpretation of the regional distribution of the shadow economy level based on sociological survey data and financial reporting. An econometric approach is used to model the relationship between institutional trust, tax burden, and the tendency toward informal activity, which provides grounds for assessing the potential for tax discipline within the creative economy. The results of the study indicate the need to improve fiscal policy towards incentivizing the legalization of creative labor by introducing an adaptive tax burden, enhancing the administration of the unified social contribution, personal income tax, and military levy. The feasibility of implementing a comprehensive system of informality indicators for the creative sector, taking into account structural, institutional, and regional aspects, is substantiated. The conclusion is made that introducing a balanced and differentiated taxation system for creative activities could contribute to reducing the shadow component and increasing the budget efficiency of the national economy.
Copyright (c) 2025 Оlha Osadcha, Denys Niedielko https://creativecommons.org/licenses/by-nc/4.0
Statistical Analysis of Macroeconomic Factors Affecting the Establishment of Micro and Small Enterprises and Their Impact on Tax Revenues in Ukraine and Transcarpathia
The competitiveness and success of enterprises depend on many factors, primarily internal managerial capabilities and the impact of external environmental factors. This scientific publication focuses on the study of external macroeconomic factors in Ukraine, particularly in the Transcarpathia region and the Berehove District, located near the Ukrainian-Hungarian border. The study period covers the time from the onset of the global financial crisis (2009) to the present day (2025), when the region is experiencing its deepest crisis due to the Russo-Ukrainian war. In addition to the negative impact of the war, the article also examines the consequences of the financial crisis, the 2014 Eastern Ukraine conflict, the Transcarpathia economic stimulation program "Ede Egan Program" (2016), and the COVID-19 pandemic. Special attention is given to the impact of the early years of the war, analyzed based on statistical data, proprietary local databases, and other analytical sources. The aim of the research is to interpret the impact of external factors on entrepreneurial activity through the indicator of new business openings, as entrepreneurial initiative is one of the key indicators of economic dynamics and the regional economic environment. The results show that external factors, including the global financial crisis and the pandemic, had a significant impact on businesses, especially medium-sized ones, at the national level. At the same time, the war caused a much stronger negative effect, regardless of the size of the enterprise. The study also examines a positive local factor—the Ede Egan economic stimulation program (mainly during the period from 2016 to 2019). Statistical data indicate a growing dynamic among micro and small enterprises during this period, whereas medium and large enterprises, as well as in a broader geographical context, did not show such a positive correlation. The existence and effective financial and economic activity of enterprises are crucial for the formation of budgetary revenues, as income from local businesses enables the state to maintain and develop social functions. This study, with a particular focus on Transcarpathia, contributes to a deeper understanding of the region's economic stability and the level of entrepreneurial activity in the context of crises and war.
Copyright (c) 2025 Gabor Pataki, Gabriella Loskorikh, Andrea Husar https://creativecommons.org/licenses/by-nc/4.0
Adaptation of Accounting and Auditing to the Challenges of the Digital Economy: the Impact of Artificial Intelligence
The article is devoted to the study of the adaptation of the accounting and auditing system to the challenges of the digital economy under the influence of artificial intelligence technologies. The subject of the research is defined as the impact of digitalization and artificial intelligence on accounting and auditing practices. The aim of the study is to substantiate the directions of transformation of accounting and auditing activities in order to enhance their efficiency and reliability in the context of the rapid development of artificial intelligence. The study employs methods of comparative and systems analysis, statistical generalization, as well as expert evaluation of current trends. Auditing activities undergo significant changes due to the capability to process 100 % of accounting transactions instead of traditional sample‑based testing. The use of machine learning and big data analytics facilitates the detection of anomalies, atypical transactions, and potential fraud, thereby increasing the accuracy and depth of audits. An illustration of this trend is provided by the Big Four – KPMG Clara, Deloitte Omnia, EY Helix, and PwC Halo – which integrate AI modules for the automated execution of analytical procedures and the generation of reports on potentially problematic areas. Simultaneously, the need for «algorithm auditing» is growing – which entails verifying the correctness of models, identifying biases, and assessing compliance with regulatory requirements, particularly in the context of the adoption of the European AI Act. The key challenges have been identified – data quality, cybersecurity, algorithmic transparency, the need to retrain models, and overcoming resistance to change among personnel. The conducted analysis indicates that the successful implementation of AI in accounting and auditing requires a comprehensive approach that combines technological infrastructure, the updating of internal policies, the development of competencies, and the establishment of control systems for automated processes. It is proposed that educational programs integrate training in data management, basic programming, and the principles of AI system operation, while professional organizations should refine accounting and auditing standards to accommodate automated tools. Promising directions for further research include the development of methodologies for assessing the economic efficiency of AI implementation, the study of behavioral aspects of decision‑making involving algorithms, and the examination of legal dilemmas related to liability for AI errors in financial reporting.
Copyright (c) 2025 Nataliia Pryimak https://creativecommons.org/licenses/by-nc/4.0
Conceptual Model for Implementing Artificial Intelligence in Business Activities of an Enterprise
In the era of global digital transformation, artificial intelligence technologies are becoming a key driver of efficiency and innovation in business, but their implementation requires a systematic approach and thorough planning. The aim of the study is to develop a conceptual model of the comprehensive process of implementing artificial intelligence in the business activities of an enterprise, which will ensure a systematic approach to digital transformation and maximise the business value of using AI technologies. The article analyses current trends in the implementation of AI in the corporate sector and finds that 85% of executives plan to make significant investments in these technologies. Statistical data on the use of AI by business function is examined, with the highest proportion of use observed in marketing and sales (72% of companies), product development and IT functions. The economic effect of implementing generative AI is analysed, which allows one in five companies to increase revenues by more than 6% in the area of supply chain optimisation. The main barriers to AI implementation were identified, including insufficient understanding of the mechanisms of generating business value, limited knowledge of integration, and a lack of a systematic vision of the role of AI in creating value. A conceptual model of a five-stage AI implementation process has been developed, which includes: strategic planning and readiness assessment; organisational preparation; pilot testing; scaling and cultural transformation; continuous development and performance monitoring. Critical success factors for AI implementation have been identified: top management support, organisational readiness for change, availability of qualified personnel, high data quality, and sufficient financial resources. A risk management system has been developed that covers technological, organisational, legal, and ethical aspects. It has been proven that companies that adhere to a systematic approach to AI integration are more successful than those that implement individual solutions in a fragmented manner. The proposed model is characterised by cyclicality and adaptability, which allows organisations to adjust their approach based on experience and changes in external conditions.
Copyright (c) 2025 Volodymyr Rodchenko, Oksana Nesterenko https://creativecommons.org/licenses/by-nc/4.0
Comparative Analysis of National and International Standards for Accounts Receivable Accounting: The Experience of Ukraine and Foreign Countries
The article explores the theoretical and practical aspects of the recognition, measurement, and presentation of accounts receivable in the accounting system under National Accounting Standards and International Financial Reporting Standards. It reveals the differences in the interpretation of the term "accounts receivable." The study determines that the concept of accounts receivable combines both economic and legal components: on the one hand, it is the right of an organization to obtain future economic benefits, and on the other, it is a liability of partners based on contractual relationships. A comparative analysis of the recognition, measurement, and presentation of accounts receivable in the accounting system made it possible to establish that the application of national accounting standards is characterized by a simpler approach compared to international norms. Under national standards, accounts receivable are recognized and measured at initial cost, and at the balance sheet date, at net realizable value, which is with an allowance for doubtful accounts. IFRS, however, is based on an expected credit loss model that takes into account forecast risks and economic conditions. The study identifies key problems in the field of accounting: the formal nature of creating allowances for doubtful accounts, the difficulty of implementing international requirements due to limited information bases, and the need for highly professional training of specialists. The necessity of harmonizing national standards with international ones, developing the infrastructure for collecting data on the payment discipline of counterparties, and using digital technologies for risk management is substantiated. The results can be used to improve the reliability of financial reporting, enhance accounting practices, and strengthen the competitiveness of Ukrainian enterprises in the international business environment.
Copyright (c) 2025 Nataliya Stoika, Viktoriia Makarovych, Nikoletta Pomaskina https://creativecommons.org/licenses/by-nc/4.0
Evolution of Ukrainian Stock Exchanges: Geographical and Institutional Factors
This study finds no direct correlation between the development level of stock markets in post-socialist countries and the involvement of stock exchange operators from more developed markets in local market infrastructure. It analyzes the competitive landscape and ownership structure of Ukraine’s leading stock exchanges. The article identifies the prerequisites and consequences of Russian exchanges’ corporate and technological influence on Ukraine’s organized stock market. It highlights the challenges of selecting a strategic investor to support the development of local stock exchange’s infrastructure within an immature capital market, especially amid rising geopolitical tensions and expanding sanctions. The research argues that Ukrainian stock exchanges’ refusal to operate as public companies or list their own securities on the regulated market, as well as their failure to comply with certain rules and requirements that they impose on issuers and investment firms (including those concerning minority shareholder rights and financial capacity), has undermined trust in exchanges as key component of the capital markets’ institutional environment. The study reveals fundamentally different regulatory responses to licensing violations by stock exchanges, depending on their market share, financial instruments and the role of key trading participants in the financial system. It also examines the historically limited interest of leading global stock exchanges in entering the Ukrainian stock market and finds that most of the underlying factors remain relevant today. The paper notes a recent resurgence in mergers and acquisitions within the European stock exchange’s landscape, which is an important trend for Ukraine, given its national policy of integration with the EU economy and capital markets. This integration could be pursued by attracting a strategic investor to create a vertically integrated holding company comprising a stock exchange and post-trade infrastructure entities. Finally, the study summarizes the challenges faced by capital market participants due to past reductions in the number of stock exchanges and outlines the implications of the anticipated monopolization of Ukraine’s local stock exchange services market in the context of European integration.
Copyright (c) 2025 Stanislav Shyshkov, Diana Shyshkova https://creativecommons.org/licenses/by-nc/4.0
Financial Stability of Ukraine During the War: the Interaction of Macroprudential Measures and External Financial Support
The article examines the key aspects of ensuring financial stability of Ukraine in the conditions of a full-scale war, with a special emphasis on the relationship between internal macroprudential policy and external financial support. It is noted that current challenges for the financial system are unprecedented and include large-scale destabilization of the foreign exchange market, increased inflationary pressure, increased solvency risks in the banking sector, chronic state budget deficits, and significant restrictions on access to market sources of financing. It was found that an effective response to these threats required a coordinated, rapid, and flexible policy from the National Bank of Ukraine, the government, and international partners. The results of the study show that the macroprudential policy of the NBU in 2022-2025 was based on the principles of flexible adaptation to the conditions of the war economy, with a focus on stabilizing the foreign exchange market, ensuring the liquidity of the banking system, curbing inflationary processes, etc.At the same time, the government's fiscal policy was aimed at attracting large-scale external support to cover the budget deficit, making social payments, financing defense needs and importing critical goods. The effectiveness of the implementation of these approaches was largely determined by close cooperation with international financial institutions, in particular the International Monetary Fund, the World Bank, the European Union, and the governments of partner countries. It was emphasized that external financial aid played not only the role of a source of liquidity, but also served as a key factor in strengthening confidence in the macroeconomic policy of Ukraine. The regularity of financial inflows under programs with the IMF and other donors has become an important compensator for the internal resource deficit, allowing the NBU to avoid using the emission mechanism. At the same time, monetary policy maintained a strict character even in wartime conditions, which contributed to the stabilization of inflationary expectations and the prevention of hyperinflationary threats. It is substantiated that the financial stability of Ukraine in the context of armed aggression was the result of synergy between the effective application of macroprudential instruments and systemic external financial support. Such interaction made it possible to prevent destructive scenarios, minimize systemic risks and ensure relative macroeconomic balance in the conditions of a deep economic and security crisis. In the medium-term perspective, one of the key tasks will be a gradual transition from external dependence to internal financial stability. This will require maintaining a high level of strategic coordination between Ukraine's economic policy bodies and international partners on the basis of trust, transparency and a common vision of the goals of post-war development - the formation of a modernized, sustainable and competitive economy.
Copyright (c) 2025 Tetiana Shpomer, Andrii Fabrychenko https://creativecommons.org/licenses/by-nc/4.0
Documentary Support for the Design and Delivery of Tourism Products
The proper documentation on design and delivery of tourism products is pivotal for effective financial management. Given the volatility of the contemporary market environment, documentation is becoming an important tool for strategic management, which makes solving problems related to documenting the processes of design and delivery of tourism products even more important. The aim of this article is to improve the system for documenting the design and delivery of tourism products. Among the methods used to achieve the aim of the article were: the logical method – in structuring the research results; design – in developing documents for the design and delivery of tourism products. A Tourism Product Design Card has been developed, the use of which will help to organise information about the tour, facilitating the creation of its descriptions, advertising materials and cost calculation. A Statement of Calculation of the Cost of a Tourism Product has been developed. The implementation of this tool for accounting purposes, thanks to improved cost detailing, will make it possible to identify reserves for optimising tourism products without compromising quality. A Consolidated Report on Tourism Product Areas has been developed. The implementation of this analytical tool will allow monitoring sales dynamics and identifying unprofitable or highly profitable offers. A Report on the Effectiveness of Methods for Stimulating Delivery of Tourism Products has been developed. The implementation of this strategic marketing tool will help to identify the most effective sales promotion methods for each type of tour and to abandon ineffective ones. Overall, integrating the developed documents into the processes of design and delivery of tourism products transforms documentation from an accounting tool into a strategic management instrument, enabling the tourism company to improve and develop effectively.
Copyright (c) 2025 Liubov Shatskova https://creativecommons.org/licenses/by-nc/4.0
Legal Status, Taxation, and Accounting Regulation of Farmers 'participation in Profit Distribution: Conceptual Approaches and Practical Implementation
The modern taxation and accounting system in Ukraine’s agricultural sector necessitates a comprehensive examination of the specific features of farm operations as a distinct organisational and legal form of economic activity, combining elements of private enterprise with intra-family participation in management. The subject of this study is the taxation and accounting framework for farm activities in the context of contemporary economic transformations. The aim of this study is to identify deficiencies in the regulatory and legal framework, as well as in the accounting and taxation of income received by members of farming enterprises, and to substantiate directions for their improvement. The methodological basis includes analysis and synthesis, comparative legal research, the generalisation of scientific findings and practical experience, and economic-legal modelling, which together enable an assessment of the effectiveness of accounting and taxation procedures. The findings indicate that the absence of a unified approach to classifying the income of farming enterprise members, the complexity of determining the base for calculating the unified social contribution for individuals without employee status, and shortcomings in the documentation of economic transactions and tax administration procedures generate risks of non-compliance, reduce the transparency of financial reporting, and impede effective resource management. A number of improvement measures are proposed, including the adoption of modern accounting methods, the optimisation of tax procedures, the digitalisation of accounting processes, and the integration of ESG (environmental, social, and governance) principles into agricultural business practices. The findings can be applied in the operations of farms and agricultural enterprises, by tax administration authorities, and in the preparation of methodological guidelines. Implementing the proposed measures will enhance management efficiency, minimise tax risks, and promote the sustainable development of agricultural production.
Copyright (c) 2025 Liudmyla Yaloveha, Svitlana Tyutyunnyk, Maryna Yermolaieva https://creativecommons.org/licenses/by-nc/4.0
Marketing Strategies for the Development of Ukrainian Winemaking
This research focuses on analyzing consumer behavior regarding wine selection in Ukraine, emphasizing economic aspects, development prospects for domestic winemaking, and marketing strategy development. Wine is examined as a complex product reflecting taste preferences, emotional experiences, and cultural characteristics. In Ukraine, the availability of imported wines creates skepticism toward local products, which presents a barrier to industry development. The aim of this work is to identify key factors influencing wine choice and develop strategies to increase the competitiveness of Ukrainian winemaking. Theoretical consumer profiles have been formed: younger consumers (18-25 years) gravitate toward simple and affordable wines, while older consumers (56+) value quality. Segmentation revealed five types of consumers: connoisseurs, event organizers, local brand enthusiasts, budget buyers, and beginners. Results indicate significant potential for Ukrainian winemaking due to accessibility, variety for different consumer segments, and price attractiveness; however, skepticism about quality remains an issue. White and sparkling wines dominate preferences, opening marketing opportunities. Red wine has a niche among men, requiring targeted campaigns. The economic situation in Ukraine, particularly income reduction, affects price sensitivity but does not eliminate demand for quality wines. Taste became important for 79.5% of respondents, friend recommendations for 66.9%, and origin for 60.7%. The findings of a survey conducted among 112 wine consumers confirmed certain hypotheses regarding the frequency of wine purchases and revealed specific demographic differences by gender and age. However, several expected outcomes were not supported, which is likely attributable to the limited sample size and potential biases stemming from the online survey format. Ukrainian winemaking has growth prospects if prejudices are overcome through improved quality, accessibility, and recognition. Strategies should include market segmentation, emotional marketing, and support for local production. The development of wine tourism, online tastings, and collaboration with restaurants will promote popularity. At the state level, it is advisable to hold festivals and support programs for winemakers, while at the international level, Ukrainian wines should be promoted through competitions and branding with national symbols. The practical value of the research lies in developing recommendations for marketers, retail chains, and online alcohol beverage stores.
Copyright (c) 2025 Inna Bezhenar https://creativecommons.org/licenses/by-nc/4.0
Scientific and Technical Bases for Innovative and Investment Development of Energy Machinery in Ukraine
Ukraine's energy machinery plays a strategic role in recovery and modernization of energy infrastructure, as they ensure not only the renewal of lost manufacturing and generating capacities, but also the development of modern energy-efficient, innovative and sustainable technologies that can minimize the external threats and improve the reliability of the energy system. The scientific, technical and production potential of the industry, represented by the National Academy of Sciences of Ukraine's scientific institutes, specialized construction bureaus, higher education institutions, industrial enterprises and industry associations, creates the conditions for the development of an innovative ecosystem in the energy engineering sector. At the same time, the industry faces a number of challenges, including insufficient funding for research and development, limited capital investment in the manufacturing sector, high logistical risks, and dependence on imports of critical components. Overcoming these challenges requires mobilizing internal and external financial resources, developing public-private partnerships, and attracting international investment programmes and grant mechanisms. Effective financing instruments include regulatory sandboxes, which accelerate the testing of new technologies, and green bonds, which support environmentally-oriented projects. The regulatory framework needs to be improved, in particular by updating production standards, tax privileges and preferential conditions providing for municipalities issuing green bonds and the support for pilot projects, which will stimulate innovative renewal of the industry and encourage investment. The proposed directions of development will contribute to strengthening the scientific, technical and production potential of the industry, modernizing the energy infrastructure, and increasing Ukraine's energy security and competitiveness in the global market. The implementation of innovative and investment models based on domestic scientific and technical solutions will accelerate the development of modern technologies, promote competitiveness and integrate energy engineering into global value chains.
Copyright (c) 2025 Vitalii Venger, Nataliia Romanovska https://creativecommons.org/licenses/by-nc/4.0
Correlation-Regression Analysis Between the Level of Education and Economic Development in Ukraine's Regions
The purpose of this study is to explore the relationship between the proportion of employed persons with at least a bachelor's degree and the gross domestic product (GDP) per capita across Ukrainian regions during the period from 2021 to 2023. The underlying hypothesis is that a higher level of educational qualification among the population contributes positively to regional economic indicators, which is reflected in an increase in GDP per capita. The research employed correlation and regression analysis methods based on official statistical data, revealing a moderately strong positive relationship between the studied variables. The findings indicate that an increase in the share of higher-educated employees is generally associated with improved economic productivity, particularly in urbanized and economically advanced regions such as Dnipropetrovsk, Kharkiv, Lviv, and Odesa. The study highlights that interregional disparities remain significant, and the contribution of university graduates to local economic development varies substantially. Given the severe economic challenges currently faced by Ukraine, the improvement of human capital quality is considered one of the key instruments for achieving sustainable development. The paper emphasizes the necessity of regular and reliable data collection, which would allow for more accurate long-term trend analysis. Particular attention is drawn to assessing the impact of the war that began in 2022 on the higher education system and its role in shaping the economic potential of the regions. Such research is of crucial importance for substantiating educational and regional policies aimed at ensuring balanced socio-economic growth. In the context of wartime conditions, the role of higher education as a factor of regional recovery, economic adaptation, and long-term competitiveness becomes especially relevant. Applying the identified patterns in socio-economic planning practice would enable more sound strategies for regional development, focused on the effective use of human capital in the post-crisis recovery process.
Copyright (c) 2025 Veronika Hanusych, Peter Solnoki https://creativecommons.org/licenses/by-nc/4.0
Management of Ukraine’s Energy Security in the Context of Green Transformation
The article explores the current challenges of energy security management in Ukraine within the context of green transformation. The study analyzes the present state of renewable energy sources (RES) deployment, including solar, wind, hydro, and biomass energy, and assesses their impact on the sustainable development of the national energy system. The key obstacles hindering an effective transition to green energy are identified, such as the insufficient adaptability of existing infrastructure, limited financial resources, regulatory uncertainty, the consequences of full-scale military aggression, and global climate change. It is emphasized that transformational processes in the energy sector require not only technical modernization but also a revision of managerial approaches aimed at ensuring a rapid response to both external and internal challenges. The paper highlights the differences between managerial approaches to traditional and green energy, particularly in terms of strategic planning, operational management, financial support, and implementation of sustainable development goals. Green energy, in particular, demands more dynamic management decisions that take into account fluctuations in energy generation, the integration of decentralized capacities, and the growing role of local initiatives. The need for new management strategies is substantiated, including the development of decentralized energy systems, the integration of digital monitoring and control solutions, expansion of cross-border energy cooperation, active attraction of investment, and modernization of energy infrastructure in line with European standards. It is emphasized that effective management should address not only current needs but also the formation of long-term energy development scenarios that consider climate commitments, energy integration with the EU, and post-war reconstruction processes.Green transformation is viewed as a key factor in achieving climate neutrality, energy independence, economic growth, and environmental sustainability in Ukraine. It is further emphasized that these changes represent not only an environmental necessity but also a strategic imperative for ensuring national security, economic resilience, and enhanced competitiveness on the global market.
Copyright (c) 2025 Alona Yevdokymova, Inna Balahurovska, Svitlana Kolosok https://creativecommons.org/licenses/by-nc/4.0
Assessment of Personnel Efficiency: Methodological Approach and Practical Implementation
Effective human resource management directly affects the productivity, innovation and sustainable development of the company and is its strategic competence and competitive advantage. Employee performance appraisal is an effective tool for personnel management in the company, designed to form the basis for motivating, training and developing personnel. The purpose of the article is to further study the methods and tools for assessing employee performance in the company, as well as to provide practical recommendations for implementing a methodological approach to assessing personnel performance in an IT company. The research methodology is based on the theory of procedural justice and combines quantitative and qualitative methods, including questionnaires, the 360° method, KPI, which ensured that nuanced perspectives were taken into account. The research design for the surveys was used and formed based on the fact that it is easy to conduct and can be created with minimal effort and cost. The presented methodological approach involves three stages and corresponding procedures for each of them. The practical implementation of a methodological approach to personnel assessment, which takes into account the specifics of the activities of IT company employees, demonstrates the existing standardization of the assessment process, an effective attempt to avoid subjectivity and favoritism and ensure transparency and fairness. We have taken into account the thesis that organizations are increasingly combining personnel measures and business policies to assess personnel, increase their competence and efficiency. The article substantiates that assessment, supported by reliable and accurate employee performance ratings, can be more efficient and effective. Thus, the study contributes to expanding the perimeter of tools and methods for assessing employee performance, taking into account the type of company activity.
Copyright (c) 2025 Natalia Iershova, Wei REN https://creativecommons.org/licenses/by-nc/4.0
Decision-Making Algorithm in a Hybrid Holacratic System with Virtual Roles
The subject of this study is the decision-making processes in modern hybrid management systems based on holacracy and incorporating virtual roles implemented through artificial intelligence (AI). The aim of the research is to develop a decision-making algorithm for a hybrid holacratic structure that integrates human and virtual roles, taking into account the principles of autonomy, transparency, and evolutionary governance. The methodological foundation combines systemic, structural-functional, and comparative approaches, which made it possible to comprehensively analyze decision-making processes in hybrid management systems built on holacratic principles and integrated with AI-driven virtual roles. As a result of the study, a decision-making algorithm was developed for a holacratic structure that considers the hybrid composition of participants and ensures coordinated interaction between human and virtual roles. The proposed algorithm is based on a modular model of AI participation in the management cycle, which provides for a clear distribution of responsibilities, defined delegation logic, cyclical updating of decisions, and mechanisms for verifying the effectiveness of interaction. To integrate virtual roles, a model was designed comprising analytical, facilitation, monitoring and oversight, documentation, and evolutionary modules. Each stage of the decision-making algorithm corresponds to a specific module with designated types of virtual agents, ensuring not only functional task distribution but also compliance with the principles of autonomy, transparency, and adaptability. The formalization of virtual role functions establishes a foundation for further automation of management processes and the development of relevant digital tools. The practical significance of the results lies in their potential application by digital organizations, startups, and IT companies that implement decentralized or self-managed management models. The conclusions of the study confirm the feasibility of integrating virtual agents into holacratic structures, provided that there is a clear role model, transparent interaction algorithms, and ethical constraints on autonomous AI. The results obtained constitute a basis for the creation of next-generation tools for the automation of management processes.
Copyright (c) 2025 Hanna Koptieva, Viktor Khabalevskyi https://creativecommons.org/licenses/by-nc/4.0
Strategic Alternatives for Risk Management of Enterprises’ Economic Activities
The article examines the improvement of strategic risk management in the economic activities of enterprises through the implementation of an adaptive post-crisis monitoring model, focusing on the development of adaptive management mechanisms capable of operating effectively under heightened economic uncertainty. It is emphasized that the modern business environment is characterized by constant market fluctuations, geopolitical threats, technological shifts, and changing regulatory requirements, which necessitate the integration of risk management into the overall enterprise development strategy. The concept of post-crisis monitoring is revealed as a key risk management tool that allows systematic tracking of the impact of previously made decisions, identifying hidden threats, and promptly implementing strategic adjustments. Special attention is paid to the creation of a unified information base for risk assessment and forecasting, combining financial, production, logistical, and market indicators. The importance of developing personnel competencies in risk identification and response is underlined, with a focus on finding resource-optimal solutions for small and medium-sized businesses, where high training costs often limit the ability to implement comprehensive risk management systems. An adaptive risk management model is proposed, providing for the interconnected implementation of four stages: identification, assessment, response, and control. The model takes into account industry-specific features, enterprise scale, and available resources, making it a universal tool for various economic sectors. Examples of strategic alternatives are presented, including diversification of activities, implementation of digital risk monitoring technologies, insurance against commercial and production threats, creation of partnership alliances, and development of anti-crisis reserves. The research results can be used to improve corporate governance systems, enhance enterprise resilience to crisis phenomena, and develop long-term strategies that combine flexibility with a preventive approach to risk management.
Copyright (c) 2025 Nataliia Korzhenivska, Illya Оsadchuk https://creativecommons.org/licenses/by-nc/4.0
Activation of International Cooperation of Higher Education Institutions in the Conditions of Globalization and Crisis Challenges
The article presents a comprehensive analysis of the economic essence of international cooperation in the field of higher education, conceptualized as a strategic tool for transforming the educational environment in response to contemporary global challenges. It has been established that the international engagement of higher education institutions (HEIs) serves not only as a key factor in strengthening economic ties between states but also as a catalyst for deeper integration into the global educational area. From the perspective of globalization processes, the study examines the transformation of HEI functions driven by the increasing interdependence of national education systems. The findings demonstrate that globalization facilitates the intensification of academic mobility, the development of joint educational programs and research projects, integration into international rankings, and active participation in global educational platforms. This, in turn, shapes a new model of economic interaction in which HEIs become full-fledged participants in the transformation of the international educational market. Special attention is devoted to identifying the main globalization factors influencing the international cooperation of HEIs and to analyzing methodological approaches to its assessment. The research substantiates the importance of adopting a cyclical assessment framework, which not only records the current state of international activity but also tracks emerging trends, evaluates the effectiveness of previous management decisions, and enables the timely adaptation of strategies to changes in the global educational environment. The phasing of the cyclical process of assessing the international activities of higher education institutions, which is consistent with the provisions of the European Standards and Recommendations for Quality Assurance in Higher Education (ESG) is proposed. A systematic and resource-oriented assessment approach is proposed, incorporating both quantitative and qualitative indicators, emphasizing the importance of resource provision for international activities, and ensuring the long-term sustainability of partnerships. The results of the study can be applied to improve internationalization strategies of Ukrainian HEIs, enhance their competitiveness, and strengthen their positions within the global education area, thus providing a foundation for informed policy-making and strategic institutional development.
Copyright (c) 2025 Olena Korohodova, Yuliia Ponomarenko, Nadiia Konovalova https://creativecommons.org/licenses/by-nc/4.0
Analysis of Digitalization and Innovative Activity of Construction Companies in the Context of Economic Security
The study presents a comprehensive analysis of the digitalization and innovation activity of construction enterprises in the context of ensuring their economic security. The purpose of the work is to identify key trends in the digital development of the industry, assess the ability of enterprises to counter modern information threats, and determine the potential of using innovative technologies as drivers of economic security enhancement. The methodological basis of the study is grounded in the theory of enterprise economic security, as well as systemic and structural-functional approaches, with the application of statistical analysis, grouping, comparative methods, and graphical data interpretation. The analysis revealed a moderate but steady increase in the level of digital maturity of construction enterprises. The practice of outsourcing ICT functions remains prevalent, while formalized employee training in information security is still limited. The level of adoption of advanced digital instruments—such as multi-factor authentication, threat monitoring systems, and data encryption technologies—remains insufficient. The use of artificial intelligence and robotics was also examined across functional areas. It was found that these technologies are primarily applied in production processes and management, whereas their implementation in the field of information security remains extremely limited. The practical value of the obtained results lies in their applicability for developing digital transformation strategies for construction enterprises in line with economic security requirements, improving information security management systems, and implementing effective mechanisms for assessing and minimizing digital risks. The proposed analytical approaches can be applied in the formation of corporate policies on the adoption of innovative technologies, the development of internal regulatory documents on cybersecurity, as well as in the creation of industry-specific recommendations to strengthen the digital resilience of enterprises.
Copyright (c) 2025 Maryna Kravchenko, Fedir Nemyrovskyi https://creativecommons.org/licenses/by-nc/4.0
Development of Energy Machinery Manufacturing in Ukraine in the Context of the Low Carbon Economy Transition
The article is concerned with analysing strategic directions for the development of Ukraine's energy machinery industry in the context of the global transition to a low-carbon economy. It examines the key challenges and opportunities facing the industry as a result of the introduction of energy-efficient technologies and the decarbonization of production in order to achieve the EU’s strategy to remove Russian oil, gas and nuclear energy imports from EU markets. It was found that Ukraine has sufficient scientific, technical, industrial and resource potential for the innovative development of the energy machinery industry. An analysis of the production and sales volumes of Ukraine's energy machinery industry and an assessment of foreign trade were carried out. This allowed Ukraine's needs for energy machinery products to meet the needs of the domestic market to be determined. Approaches to modernizing the production base by renewing generators, heat exchange equipment, turbines, control systems, and control and measuring equipment were proposed with the aim of extending the service life of existing nuclear power plants. However, this may be achieved by intensifying investment activity and commercialising scientific developments aimed at satisfying domestic energy needs and prospects for entering global markets. The authors determine possible directions for fostering the development of the industry, the main goal of which is not just to restore destroyed facilities, but rather to improve and integrate them into the European Community on the basis of sustainable development. The main areas identified include strategic planning, effective state support to accelerate the commercialization of scientific developments by sectoral institutes of the National Academy of Sciences of Ukraine, the formation of partnerships with global partners, participation in international innovation projects, and improvement of the investment climate through the implementation of financial incentives.
Copyright (c) 2025 Oksana Kushnirenko, Oleksandr Bykonia https://creativecommons.org/licenses/by-nc/4.0
Managerial Mechanisms, Criteria, and Core Determinants of Scientific Systems’ Stability in Times of Crisis: An Overview
The resilience of national science and innovation systems plays an important role in ensuring sustainable scientific and technological progress and economic security, especially in times of crisis. Scientific institutions contribute to the generation, dissemination and implementation of knowledge, ensuring economic stability and regional development. However, external shocks such as economic crises, armed conflicts, climate change and pandemics create unprecedented challenges that require the adaptive capacity of science and innovation ecosystems and scientific systems in particular. Despite a significant body of research on the role of science and innovation systems in ensuring economic growth and competitiveness of regions, as well as on the impact of innovation on economic stability, the concept of the resilience of state scientific systems and their adaptability to socio-economic and political shocks remains under-researched, especially in the context of long-term crises and developing economies. This article is devoted to the study of this issue. The paper provides examples of international experience, in particular post-war Germany, South Korea, Israel in the context of security threats and the EU's response to the COVID-19 pandemic, and provides an analytical justification for the need to study key mechanisms for strengthening the resilience of science in the face of systemic threats. The results obtained form the basis for further research on the development of indicators for a unified methodology for assessing the resilience of national science and innovation systems, and state science systems in particular. They allow for a more comprehensive approach to assessing the ability of such systems to respond effectively to global challenges, taking into account their interaction with other critical infrastructure sectors, political stability, organisational culture and resource autonomy. The conditions of full-scale war in Ukraine create a need to formulate parameters for assessing the resilience and adaptation mechanisms of state scientific structures to prolonged systemic shocks. The analysis provides a theoretical and practical basis for modernising scientific policy and management in conditions of uncertainty.
Copyright (c) 2025 Anastasiia Lutsenko, Volodymyr Rodchenko https://creativecommons.org/licenses/by-nc/4.0
Hybrid Strategic Framework for Ukraine’s Spatial Development: Scenario-Integrated Economic Management Model
The article addresses the problem of strategic management of Ukraine’s spatial development in the context of post-war transformation, when interregional disparities, resource asymmetry, and functional fragmentation of regions highlight the need for a new methodology of state regulation. It is substantiated that traditional models of spatial planning and unified approaches to strategizing demonstrate limited effectiveness under conditions of deep regional polarization and the variability of development scenarios. In response to these challenges, a model of hybrid strategizing of spatial development is proposed, which integrates tools of scenario-based modeling, functional-territorial typology, and mechanisms of integrated economic management. A typology of seven macro-regional zones of Ukraine has been carried out according to their scenario-based development formats (reconstructive, stabilizing, recovery-oriented, rehabilitative, innovation-expansive). The concept of the Strategy for Scenario-Differentiated Integrated Management of Ukraine’s Reconstructive Spatial Development for 2025–2035 is presented and substantiated as a systemic document of strategic reconstruction that reflects the functional complementarity of territories and ensures a balance between local needs and national priorities. The feasibility of structuring spatial development management mechanisms into four interrelated blocks—coordination, transformation, stabilization, and institutional support—is argued. Particular attention is given to the development of an interzonal interaction scheme between macro-regional zones as a tool for synchronizing managerial actions, achieving spatial coherence, and ensuring scenario-based adaptation. The findings demonstrate that hybrid strategizing of reconstructive spatial development is not only a response to wartime and post-war challenges, but also an effective long-term instrument for improving spatial policy and ensuring sustainable economic governance. The implementation of the proposed model creates methodological and practical prerequisites for building an integrated system of economic management of regional development, oriented toward functional specialization, optimization of resource flows, scenario balancing, and the achievement of interregional synergy. The results presented in the article provide a theoretical foundation for further applied developments in the field of spatial policy, institutional support, and economic management of Ukraine’s reconstruction under conditions of growing multidimensional threats and risks.
Copyright (c) 2025 Viktoriia Mykytenko, Marharyta Chuprina https://creativecommons.org/licenses/by-nc/4.0
Scientific and Methodical Approach to Diagnosing Agroindustrial Market Systems Based on Resilience
The war in Ukraine has led to the emergence of various threats and shocks, adaptation to which has become one of the important conditions for the functioning of national markets. The priority task of reducing vulnerabilities and implementing the resilience potential of agro-industrial markets necessitates the development of a modern scientific and methodological approach to the diagnosis of market systems based on a proactive approach. The paper substantiates three main areas of market system diagnostics in the context of economic revival tasks: security, balanced development, and regulatory. The relationship between the strength of threats (weak, moderate, significant impact) and the types of market system reactions (absorption, adaptation, transformation) to shocks is established. It is proposed to take into account the type of reaction of agro-industrial markets to threats when developing mechanisms for their regulation. The main threats to the functioning of market systems and changes in their parameters in wartime, which is one of the stages of the diagnostic process, are systematized. The main tasks, principles and methods of integrated diagnostics of agro-industrial market systems are determined. The complementary combination of quantitative and qualitative methods and various diagnostic tools, which are used comprehensively as a single analytical support system, is emphasized. The main methods and tools of integrated diagnostics of agro-industrial market systems, their essence, capabilities and conditions of use are systematized. An extended procedure for diagnosing the dynamics of market systems based on a proactive approach is proposed, the stages of which are linked in time sequence. The scientific novelty of the study lies in the development of a scientific and methodological approach to diagnosing agro-industrial market systems in the context of threat resilience, which includes an extended diagnostic procedure using actual and predictive analysis on the basis of multi-scenarios, taking into account the characteristics and power of threats. The results of the study form a scientific and analytical basis for developing mechanisms to ensure the resilience of strategic markets, monitoring progress / regression in achieving market resilience as a component of national resilience.
Copyright (c) 2025 Oksana Nikisina https://creativecommons.org/licenses/by-nc/4.0
Digital Transformation as a Factor in Increasing the Competitiveness of Ukrainian Agricultural Enterprises
In the context of intensified global competition and growing external instability, the digital transformation of Ukraine’s agricultural sector has become not only a timely necessity but also a strategic factor in ensuring long-term competitiveness. This article examines the organizational and economic foundations of digitalization in agricultural enterprises as a key trajectory for their adaptation to the principles of sustainable development and integration into the European market. It is substantiated that the implementation of digital solutions in the areas of precision agriculture, logistics, production planning, and accounting enables more efficient resource use, reduction of losses, and increased productivity. A systems and factor-based approach is applied, along with methods of graphical modeling, comparative analysis, and synthesis. The study reveals that Ukrainian agribusinesses face a number of digital transformation barriers, including limited financial support, personnel shortages, and fragmented regulatory frameworks. A conceptual model of agricultural digital transformation is proposed, involving synchronization of production, management, and logistics processes through the application of advanced AgTech solutions, ERP systems, artificial intelligence technologies, blockchain-based logistics, and digital document management. The research emphasizes that the success of digital transformation largely depends on the development of an enabling institutional environment, access to investment and educational resources, and state support through preferential programs, digital hubs, and human capital development incentives. The results may be used for designing digitalization strategies for the agrarian sector, government SME support programs, and educational curricula for the digital economy. The article concludes that digital transformation constitutes not merely a technical modernization process but also an institutional shift that redefines the operational logic of agricultural enterprises, enhancing their flexibility, transparency, and resilience. Future research should focus on developing industry-specific digital standards, performance indicators for digitalization, and evaluating the impact of digital tools on the export capacity of Ukraine’s agri-food sector.
Copyright (c) 2025 Mykola Palii, Nataliya Kantsedal https://creativecommons.org/licenses/by-nc/4.0
Integration of AI Technologies Into the Strategic Management of Metallurgical Enterprises
This article examines how artificial intelligence is transforming strategic management of metallurgical enterprises under the influence of the new industrial revolution. The relevance of this work is determined by the need to rethink traditional approaches to strategic planning, as innovative AI technologies and growing demands for environmental responsibility in business are becoming increasingly important. A comprehensive analysis of the evolution of management practices of leading global metallurgical corporations that are implementing intelligent systems in their activities was conducted. The methodological basis of the study was a systematic approach to the study of strategic transformations, analysis of digitalization cases, and the author's conceptualization of future trends in the development of the industry. It has been established that the introduction of AI leads to qualitatively new changes in the nature of strategic thinking among managers: instead of relying on experience and intuition, managers can now make decisions based on accurate analysis of large amounts of data. It has been proven that AI technologies enable a transition from reactive management strategies to proactive models, where companies can anticipate market changes and adapt to them in advance. The results of the study show that companies that successfully integrate AI into strategic planning demonstrate increased adaptability to changing market conditions, improved resource efficiency, and a stronger position in global competition. The practical significance of the work is determined by the possibility of using the results obtained to improve the strategic management of metallurgical enterprises. The conclusions give grounds to assert that artificial intelligence acts as a catalyst for the transition of strategic management to a new level, ensuring the formation of adaptive, data-oriented, and environmentally responsible models of corporate governance.
Copyright (c) 2025 Anna Pryshva, Lina Artemenko https://creativecommons.org/licenses/by-nc/4.0
Strategic Management of Digital Marketing Using the Impression Classification
Strategic digital marketing management is a key tool for shaping competitive advantages of enterprises in the modern impression economy. The purpose of the article is to substantiate methodological recommendations for strategic digital marketing management. A classification of impressions is presented according to eleven criteria, which allows for a more comprehensive consideration of the audience's behavioral reactions in the process of digital interaction. The classification of impressions covers the key characteristics of impressions according to various criteria (topic, type of interaction, source, channel, emotional tone, etc.) and allows for a better understanding of how content affects the consumer. Based on the classification, methodological recommendations have been developed for using impressions as an analytical tool for strategic digital content management. A digital content management matrix is proposed, based on the correlation of levels of cognitive processing and emotional engagement. For each quadrant of the matrix, relevant content types are identified and a recommended alternation of impressions is recommended to maintain consumer attention and interest. The implementation of such a matrix allows you to systematically manage the dynamics of content in conditions of information overload. Within the framework of one strategy, you should diversify the types of impressions: alternate emotionally strong with analytical, entertaining with cognitive, interactive with reflective. This is especially important for brands that seek to form a stable emotional attachment of the consumer. The proposed approach allows you to combine analytical accuracy with creative solutions in marketing activities. The theoretical value of the article lies in the generalization of approaches to the classification of digital content, and the practical value lies in the development of a flexible model for adapting content to different types of consumer interaction. The proposed approach can be used to optimize marketing communications, increase the effectiveness of digital campaigns, and develop emotionally oriented strategies for interaction with target audiences.
Copyright (c) 2025 Yuliia Tataryntseva https://creativecommons.org/licenses/by-nc/4.0
Resource Provision for Communities and the Resilience of Critical Infrastructure
The article investigates the resource provision of territorial communities and the resilience of critical infrastructure under crisis conditions, with a particular focus on the assessment of the ecological and economic efficiency of “green” technology implementation. Scientific approaches to community resilience formation are reviewed, including concepts of energy democracy, local energy independence, and decentralization of environmental governance. The role of local authorities in implementing low-carbon technologies, adapting infrastructure to crises, and enhancing energy security is highlighted. Special attention is given to the evaluation of the effectiveness of autonomous energy and water supply systems, coordination between local and state institutions, and the use of information systems for monitoring the state of critical infrastructure. The literature analysis reveals a lack of studies on the comprehensive assessment of community resource provision and infrastructure resilience in wartime and post-crisis periods. In the empirical part, the dynamics of budget expenditures on environmental protection, electricity production (including from renewable sources), and pollutant emissions in Kyiv region during 2018–2024 were analyzed. Positive trends in emission reduction and growth in solar generation were identified, while uneven financing and the absence of stable long-term support mechanisms for “green” initiatives were recorded. The study confirms the need for an integrated approach to the development of energy, environmental, and municipal infrastructure, the assessment of major risks and vulnerabilities of critical systems, and the implementation of practical tools to enhance resilience and resource efficiency under crisis conditions.
Copyright (c) 2025 Natalya Chernenko, Yaroslava Hlushchenko https://creativecommons.org/licenses/by-nc/4.0
Analysis of Factors of the Residential Real Estate Rental Market in Ukraine During the War Economy
The real estate rental market reflects the socio-economic situation in the country as a whole or in a separate region or even in a separate settlement. The demand for rental housing is determined by a certain set of factors, in particular migration (arrival) and the creation of new families. The residential real estate rental market is characterized by seasonality. In large cities, the demand for rental housing decreases significantly in the summer months and increases significantly in late August - early September. The supply of rental housing is formed due to the construction of new housing and the migration of residents (in the case of supply, people leaving should be taken into account). The price of renting real estate depends on the area of the settlement, the number of rooms and the area of the rented apartment, the number of floors and the number of floors in the building, the availability of parking spaces, the energy efficiency of the apartment, the internal condition of the apartment and furniture, the condition of the entrance and the surrounding area, the relationship between the landlord and the tenant of the apartment, the length of stay of the tenant, etc. The characteristics of the real estate rental market in Lviv and Kyiv are determined by the traditionally high demand for rental housing for the following reasons: demand is mainly formed and increases significantly in September due to the large number of students, the flow of labor migrants, tourism. The following trends are clearly visible in the residential real estate rental market in Lviv and Kyiv: the number of built apartments increases every year, but not their total area, which, on the contrary, decreases, i.e. apartments of smaller area are in demand; the number of one- and two-room apartments under construction, which are also in special demand for rent, is significantly increasing. In conditions of economic instability, war and internal migration, the residential real estate rental market in Ukraine has undergone significant changes. First of all, there have been territorial changes in housing demand, which have led to an increase in the unevenness of construction in different regions, as well as changes in investment activity and pricing policy. Since the residential real estate rental market is an important indicator of the country's economic stability, the study of factors affecting its dynamics is an urgent task in order to determine the prospects for the recovery and further development of this market. The trends in the development of the residential real estate rental market during the full-scale invasion of Ukraine were studied. The factors influencing the transformation of real estate demand due to the impact of the war were analyzed. Changes in prices in the residential real estate rental market in safe regions in 2025 were tracked. SWOT analysis was used to identify internal strengths and weaknesses, as well as external factors influencing the residential real estate rental market of Ukraine during economic instability.
Copyright (c) 2025 Ruslana Shurpenkova, Oksana Sarakhman, Tetyana Kalaitan https://creativecommons.org/licenses/by-nc/4.0