Socio-Economic Research Bulletin

27-45

Authors: Orji Anthony, Ogbuabor Jonathan E., Iwuagwu Chikaodinaka, Anthony-Orji Onyinye I.

The concern about population growth in many developing countries has become a burning issue in the literature. Furthermore, many divergent views exist on whether increasing population is useful or harmful to growth in the economy. This study therefore, analysed the impact of population increase on economic growth in Nigeria, as an Africa’s most populous country. The study employed time series data from 1985–2018 using the framework of the Autoregressive Distributed Lag (ARDL) Model. The findings of this study revealed that the population growth of the economy supports economic growth both in the short and long term. However, it may become explosive in the long run if vital measures are not taken to control it. Since population increase has a huge impact on economic growth, the government should take steps to ensure that the population continues to increase the country’s growth trajectory by equipping the workforce with the appropriate skills. Therefore, to enhance sustainable development, the study proposes to formulate an effective government policy in order to ensure the growing labour force with jobs and modern qualification skills in accordance with the requirements of the labor market and increasing the country’s GDP. Also, there is need to formulate effective financial policies and support competitive interest rates in order to improve the economy’s savings rate. Effective monitoring of the economy’s capital-output ratio should ensure its increase in GDP, and the prohibition of effective state policy should be enacted to maintain stable and non-escalating population growth rate.

62-71

Authors: Heiko Tetiana

The article considers the impact of the COVID-19 coronavirus pandemic, as the most important factor of medium- and long-term changes, on the development of small and medium enterprises in Ukraine. It is clarified that due to the introduction of forced measures to limit certain activities related to quarantine, an entrepreneurship sector suffers the greatest losses, which plays a crucial role in the accumulation of crisis processes in the economy, including the pre-default state of business entities. It is substantiated that the lack of adaptive state support in Ukraine can lead to a reduction of almost a third of gross value added, employment and tax revenues from this segment. Based on the systematization of risks, trends in the global business environment development and other structural changes related to quarantine restrictions, new priorities of business strategies and directions of state support for entrepreneurship sector have been determined. The object of the study is a small and medium business development in the conditions of the COVID-19 pandemic and in the post-quarantine period. The purpose of the study is the priorities of development and support of entrepreneurship determining in Ukraine for recovery accelerating in the context of the coronary crisis. The research methodology involves the use of empirical research methods (observation, comparison and description), theoretical knowledge (formalization) and general research methods (analysis, systematic approach, statistical methods). The practical results of the study include the current priorities for support and development of entrepreneurship identification in the context of the coronary crisis. The article proposes to reduce government interference in the activities of economic entities, to ensure a systematic reduction of corruption behavior in connection with an expansion of state support at the beginning of the crisis, increase the accessibility of SMEs to financing, expand the opportunities for foreign economic activity, and accelerate digital transformations.

84-93

Authors: Syrchyn Oleksandr

The article proposes a scientific and practical approach to the formation of a strategy for the commercial bank activities in modern conditions. The information base of the article was the results of a study of modern scientists and statistical data of the NBU. It is determined that the reason for the existence of the bank’s strategy is its mission. As a result of the study, it was substantiated that the main elements of the strategy are the strategic vision, strategic planning and action strategy of the bank. The definition of the bank’s strategy is formulated. Approaches to the formation of the bank’s strategies have been substantiated: traditional, competitive, integrative and external. It is determined that the bank’s share in the banking services market at a certain level of profitability is the universal strategic goal of the bank’s activities. Consequently, there are only three universal strategies for the bank’s actions: an aggressive growth strategy, a moderate growth strategy, and a conservative strategy. From this point of view, it follows that there are three main ways to achieve a competitive advantage: identifying such market segments throughout the entire economy, where the bank can lead; receiving benefits through the introduction of new banking services; getting benefits through pricing. It is shown that the bank’s strategy is associated with the choice of a corporate governance model of the bank, which, in turn, depends on the characteristics of the country’s economy. It is proposed to use the Japanese-German model of corporate governance of the bank as the most suitable for the specific political and economic conditions of Ukraine. It is noted that the implementation of the bank’s strategy leads to the formation of a universal or specialized bank (corporate, retail, investment, settlement, etc.).

107-119

Authors: Shykina Nataliya, Kotsіurubenko Ganna

The article considers the state budget deficit as a key indicator of Ukraine’s budget security. The main threats of the state national security in the economic sphere, their preconditions and consequences, as well as the impact on the state of public finances and processes of external migration of the population are investigated. The role of the Pension Fund of Ukraine in the process of forming the state budget deficit of Ukraine is analyzed. It is proved that each of these threats is a systemic destructive phenomenon that negatively affects the state’s economy and has direct or indirect impact on public finances and, in particular, on the level of budget security. It is substantiated that an adequate level of budget security is a basis for the protection of national interests’ formation of Ukraine and sustainable development of the national economy. It is noted that the overall effect of the totality of all threats (latent, explicit, potential, direct and indirect) to the national security of Ukraine is quite clearly traced when analyzing the state of public finances in general and the nominal volumes and dynamics of changes in the state budget deficit as a percentage of GDP. It is determined that the calculations of indicators of Ukraine’s budget security assessment and comparison of obtained results with their normative values prove that there is a threat to the financial and economic system of the state due to large amounts of government debt and excessive amounts for their repayment and servicing. The main reasons for the deviation from optimal values of the level of redistribution of GDP through the consolidated budget, the ratio of total payments for servicing and repayment of public debt to state budget revenues as the most critical indicator of budget security. A set of measures for minimizing the negative impact of systemic threats in the economic sphere on the state of public finances and the level of national security of the state is proposed.

136-149

Authors: Kuznetsova Inna, Karpenko Yulia, Repin Andriy

Theoretical and practical principles on the criteria for decision-making management for improvement of the logistics system are the subject of research in the article. The expediency of using indicators for assessing the state of the logistics system as a criterion for making decisions on its improvement is proved. The appropriateness of subordination of the evaluation’s stage of the logistics system of the enterprise’s performance management process is established. Based on a critical review of the scientific literature, the range of indicators for assessing the functioning of the logistics system includes: turnover of logistics assets, reliability of deliveries, timeliness of deliveries, level of stocks, capacity utilization of vehicles, level of logistics costs, deficit probability. Using the method of pairwise comparisons made it possible to establish the proportion of indicators of the functioning of the logistics system and to determine their direction. The integrated indicator of the logistics system functioning is substantiated. The proposed decision-making criterion was tested at a fish processing enterprise. The problematic components of integrated indicator of the enterprise’s logistics system functioning are analyzed. The use of the optimal batch supply model made it possible to increase the capacity utilization of vehicles and reduce the level of logistics costs. The attention is focused on integration processes and provision of information flows between logistics services. The attention is focused on integration processes and ensuring of information flows between logistics services. The main business processes of the logistics system are highlighted, which include: formation of sales policy, product delivery schedules, sales budget; initiation of the process of shipping products to the client; delivery of products to customers; formation of analytics for existing and potential clients; work with complaints and reclamations; proposals to the sales policy of the enterprise. The scheme of business processes of the logistics system is proposed, which allows you to determine information flows, to establish functional relationships between departments of the logistics system with other divisions of organizational structure of an enterprise and to reduce the speed of information to the decision maker.

164-173

Authors: Shilova Tamara

The article investigates the essence of the risk-based approach to generating the value of enterprises with transport and logistics specialization. The objective of the study is to determine the content of all components of risk management using the example of this industry. Methodological feature of the components’ study on the risk-based approach is a disclosure of the modern paradigm «Industry 4.0», namely, a comprehensive study of operational, investment and financial activities factors. The key criterion of economic efficiency in the article substantiates the use of the enterprise value indicator. In addition, it is proposed to use the methodology for calculating the impact of Value-at-Risk on the generation of enterprise value. The result of the study of the risk-based approach’s components to the formation of enterprises value indicators in the transport and logistics industry is to obtain a clear algorithm for determining each of the key risk factors inherent in the industry. Particular attention is paid to the description of the manifestation of the IT-system of electronic risks, in particular, hacker attacks and other cybercrimes. The practical uniqueness of the obtained research results lies in the fact that, using the example of BKP (Ukraine), a reasoned risk management policy is developed in full compliance with the ISO 31000 standard. Risks were identified based on the probability of risks and calculation of minimizing the impact of their consequences on the cost indicators of the enterprise. Based on the results of the study, it is established the practical usefulness of the above-described management model for generating of an enterprise value, directly based on the study of the main risk factors for activities of transport and logistics companies in Ukraine, it is substantiated the possibility of its implementation in the practical aspects of the business processes implementation.