The Problems of Economy

6-14

Authors: Mizjuk B. M., Kitz R. R.

The aim of the article is to identify relationships between the monetary policy and long-term financial stability. The main method of the study is retrospective analysis of macroeconomic and financial performance of the United States and other developed countries. It has been shown that neither Neo-Keynesian nor monetarist approaches are able to provide long-term financial stability under simultaneous low levels of volatility of GDP and inflation. In addition, the policy of inflation targeting in developed countries is not able to eliminate the risk of significant macro-economic recessions. The article states that the cause of the recessions is a systemic risk growth due to concentration of financial resources in the banking sector and in the hands of owners of non-financial corporations. This concentration has two effects: 1) growth of moral hazard at crediting; 2) decrease in the effective demand on the part of households. Redistribution of financial resources among different macro-economic groups of agents does not happen in a short period of time and is a result of the long-term monetary policy. Since the modern economic statistics has certain methodological problems with calculation of the Gini coefficient, such indicator as a share of wages in GDP is proposed in the article for studying the dynamics of uneven distribution of financial resources in the United States. The conducted retrospective analysis of the US monetary policy showed that an important system indicator of uniformity of financial resources distribution among macroeconomic agents falls out of sight of regulators. Distribution of macroeconomic risks depends on distribution of financial resources in the system, which determines its financial stability. The article justifies the need for developing the monetary policy methods that would simultaneously minimize the volatility of the GDP, inflation and maintain a uniform distribution of financial resources at an acceptable level.

24-30

Authors: Voznyak H. V.

The peculiarities in the functioning of the current system of inter-budget relations in Ukraine from the perspective of its impact on the regional development have been disclosed. The instruments of implementing fiscal equalization are analyzed, the functioning structure of inter-budget transfers in Ukraine is presented, its characteristics are given. The study demonstrates that the domestic financial equalization system is unable to perform its functions. The conducted analysis of the dynamics and structure of inter-budget transfers made it possible to identify a number of shortcomings in the sphere of inter-budget relations: the excessive centralization of financial resources of regions and their transfer dependence; the imbalances and low revenue capacity of local budgets; the imperfect mechanisms for calculating transfers and terms of transferring, etc. It is noted that in the process of implementing the budgetary policy of the regions, it is advisable to pay more attention to forms of budget support and methods of budgetary regulation

40-45

Authors: Gryshkin V. O., Simakhova A. O., Perekopska Yu. S.

The aim of the article is analyzing the impact of globalization on employment in Ukraine and studying foreign experience in regulation of the labor market under conditions of globalization. The theoretical aspects of employment of population at the stage of market transformation of economy have been analyzed. The comprehensive analysis of the current state of employment in Ukraine has been conducted. The dynamics of the main indicators of employment of population and labor migration has been considered and analyzed. The shortcomings in the mechanism of employment regulation are revealed and measures to overcome them on the basis of the positive experience of developed countries are proposed. The necessity of adapting the foreign experience to the Ukrainian realities and the possibility of its use in the national territory is justified. The main tasks of the state policy on regulating the employment of Ukraine’s population under conditions of globalization are presented.

53-59

Authors: Koval V. V., Drozdova O. H.

The aim of the article is to study the theoretical and methodological principles of the state regulation and accounting and analytical support of the development of e-commerce in the consumer sector. The peculiarities of the state regulation and accounting and analytical support of the development of e-commerce in the consumer sector have been considered. The international and domestic experience in the field of regulatory support of e-commerce is studied. There systematized the ways of solving the problems of e-commerce in Ukraine based on the need to minimize the direct regulation with the perfection of the institutional environment to improve business conditions including the issues of the fiscal regime and simplification of the customs tariff regulation. The state regulation of e-commerce should constructively contribute to the development of entrepreneurship among other measures by solving the problem of financial control of electronic transactions and supporting the payment infrastructure of e-commerce in the consumer market on the basis of its corresponding accounting and analytical support. Prospects of further research in this direction are definition of a clear and harmonized with international standards state policy in the sphere of regulation of e-commerce in the consumer market on the basis of the relevant accounting and analytical support, since the appearance of new objects and forms of economic activity sets new tasks for the accounting, which develops in parallel with these changes and generates information for managing at both the micro and macro level.

68-73

Authors: Poznanska I. V.

The aim of the article is to study issues and problems of the implementation of new safety standards for international maritime navigation. The causes of the need for establishment of an international institution that will ensure control over the safety of merchant shipping by the port state have been studied. There has been defined the principles of work and organizational mechanism for port state control provided by the Paris Memorandum of Understanding in general and the Black Sea Memorandum in particular. The basic criteria for the ranking of the flag state in accordance with the condition of vessels registered in them, by the degree of their correspondence to the requirements of safe navigation have been identified. The basic criteria for inspections of compliance with the Memorandum of Understanding and those most commonly applied in international navigation and inspections of Ukrainian shipping companies have been determined. The necessity of creating conditions for Ukrainian ship owners to promote the modernization of vessels with respect to safety of the environment and paying special attention to compliance of the conditions of work and rest of seafarers with international standards has been justified.

81-88

Authors: Skripnik A. V., Mihno I. S.

The reasons for the contemporary catastrophic state of the accumulation of dangerous household wastes have been analyzed. The basic historical, economic and social factors that led to the current situation have been identified. The estimation of the rate of accumulation of household wastes and the volume of investment required for the almost complete inhibition of the accumulation process have been performed. There has been suggested an analytical type of the regional social welfare function, which takes into account the main components of the process, investments in recycling, potential reduction of the area intended for landfills and their use in the agricultural business, expenditures on transportation. As a result of the calculations there obtained the shadow price of allotting territories for landfills, which at introduction of a relevant legislation can serve as a reference point for local communities. On the basis of the NPV model there made proposals of the introduction of tax incentives, which can make the business attractive for investors.

95-103

Authors: Frolova L. V., Bragina O. S.

The article justifies the actuality of carrying out the monitoring of budget management efficiency at trade enterprises in Ukraine. It has been found that the efficiency of each trade enterprise management system, in particular the efficiency of budget management system, is determined by several factors, among which there considered the enterprise business profile, the competitive situation in the market and the standard of living of the population. The efficiency of budget management and, as a result, the efficiency of trade enterprises’ activity is reflected in the results of the effectiveness of the main indicators of the financial budgets of enterprises. Therefore, using the method of fuzzy sets, there carried out an integral evaluation of the efficiency of budget management based on the efficiency of financial budgets: the budget revenues and expenditures, cash flow budget and budgeted balance sheet. The study is carried out for Ukraine as a whole, and its most developed regions

115-126

Authors: Yaroshenko I. V., Semigulina I. B.

The efficient system of public administration, comprehensive, rational and effective use of all existing territorial resources are impossible without a system versatile assessment of the existing socio-economic potential of the territories, on the basis of which the priority directions of socio-economic development of the country, region, individual territory, city are determined. The main driver of development of a certain territory (region) is administrative cities (regional centers, cities of regional and district significance), which due to economic and geographical, natural resource, social and environmental potentials act as points (centers) of regional development, and directly affect the general potential, positioning and competitive advantages of the territory as a whole among the regional economic entities of Ukraine. Administrative centers acquire in this context particular importance for socio-economic development of the regions. In the presented materials the importance of the city of Kharkiv in the economic and social life of the region is considered, the positioning of the city of Kharkiv and individual large cities of Ukraine at the regional, national and international levels is studied.

136-143

Authors: Grygorenko T. M.

Methodical approaches to selecting strategic areas of managing the future location of franchise retail network outlets are presented. The main stages in the assessment of strategic areas of managing the future location of franchise retail network outlets have been determined and the evaluation criteria have been suggested. Since such selection requires consideration of a variety of indicators and directions of the assessment, the author proposes a scale of evaluation, which allows generalizing and organizing the research data and calculations of the previous stages of the analysis. The most important criteria and sequence of the selection of the potential franchisees for the franchise retail network have been identified, the technique for their evaluation has been proposed. The use of the suggested methodological approaches will allow the franchiser making sound decisions on the selection of potential target markets, minimizing expenditures of time and efforts on the selection of franchisees and hence optimizing the process of development of the franchise retail network, which will contribute to the formation of its structure.

153-158

Authors: Danko Yu. I

The aim of the article is to justify the innovative approaches to ensuring the competitiveness of small agricultural enterprises by building short “local” supply chains in view of the concepts of sustainable agriculture. The study analyzes the modern scientific approaches and the real state of ensuring the competitiveness of small and medium agricultural enterprises. It is proposed to introduce a three-component model of competitiveness, which includes reviewing the range of products and related market niches, restructuring supply chains and creating associations (clusters). The innovative models of bringing the final product to the consumer have been generalized. The functional and operational distribution in the system of ensuring the competitiveness of agricultural enterprises has been formed. The prospects for further research are to determine the cost-effectiveness of the proposed measures for the specific subject of industrial activity

159-164

Authors: Dikan L. V., Vladimirova N. P.

The aim of the article is to develop a methodological approach to evaluation of the level of economic entity financial safety. It has been found that the enterprise activity is constantly subjected to internal and external threats, therefore under volatile market economic conditions it is important to form an effective system of management of its financial safety to avoid the bankruptcy and liquidation of the enterprise. The article presents a generalization of existing approaches to evaluating the level of financial safety of economic entities and their critical analysis. The methodical approach to evaluating the level of financial safety of economic entities is proposed. It is suggested to evaluate the level of financial safety qualitatively and quantitatively with the consequent comparing and contrasting of their results. It is proposed to carry out the quantitative evaluation by the method of fuzzy logic and the qualitative one by the method of hierarchy analysis. The evaluation of the level of financial safety was carried out at ten economic entities. It is determined that the qualitative evaluation of the level of business entity financial safety, unlike the quantitative one allows to determine not only the enterprise financial stability but also to assess its financial.

175-183

Authors: Krutova A. S., Sifurova A. I.

The article investigates theoretical and methodological and practical aspects of managing the financial security of enterprises of wholesale and retail trade in Ukraine, summarizes the scientific approaches to assessing enterprise financial security. There justified the influence of the level of efficiency of working capital management on improving the indicators of profitability of financial and economic activity, business activity; increasing financial sustainability and stability of development; ensuring an acceptable level of financial safety of trade enterprises. The main results of financial and economic activities of Ukrainian trade enterprises for the period 2010-2015 that influenced the level of their financial security are analyzed, the negative trends in the dynamics of receiving net profit, low profitability of sales and unprofitableness of using the current assets are highlighted. There revealed a significant disproportion in the structure of capital formation sources, high deficit of own financial resources, trend of financing the current assets entirely from borrowed funds, rapid growth of the level of credit interest rates. There performed an estimation of indicators of financial sustainability by means of the coefficient and aggregate approaches, which indicated the unstable and crisis financial condition of the majority of enterprises of wholesale and retail trade in Ukraine. There determined reserves of increasing financial security with the identification of the key components in the subsystems of financial security, criteria and indicators for an objective assessment of the financial status, taking into account the influence of the external environment, which will allow making sound management decisions regarding the analysis, prevention and neutralization of real and potential threats to trade enterprises.

192-198

Authors: Reta M. V.

The aim of the article is to justify methods, techniques and key indicators for diagnosing the effectiveness of the implementation of the enterprise strategic development, to highlight the conceptual approaches to conducting diagnosis of the effectiveness of the strategy implementation. Modern approaches to the concept of “diagnosis” have been analyzed and the author’s vision of diagnosing the effectiveness of the strategy implementation in the context of the strategic management accounting has been suggested. The place and role of diagnosis in the system of enterprise strategic management have been substantiated. The methodical approach to determining the effectiveness of the implementation of the enterprise strategy comprising four stages has been proposed. As part of the approach there suggested formation of a number of targets characterizing a certain list of enterprise strategies allowing to conduct integral evaluation of each of the strategies and on the basis of these indicators to obtain the aggregate integral index of the level of the strategy implementation. However, unlike the existing methods, it is proposed to compare not only actual and planned levels of the indicators, but also determine what level of the strategy implementation corresponds to each monetary unit spent on the implementation of the strategy

206-211

Authors: Sokolova L. V.

The aim of the article is the elaboration of an approach to creation of a theoretical and methodological platform for developing a system of enterprise adaptation to the rapid changes in the external environment, the modern active challenges of the markets. The attention is focused on the fact that the ability of industrial enterprises to respond flexibly to the external environment instability is realized through their adaptation system, the development of which should be based on an appropriate theoretical and methodological platform. The conducted retrospective analysis of the evolution of scientific thought on solving problems of enterprise adaptation allowed making the conclusion that still there is no agreed view of scientists on the scientific basis for the development of an adequate system for adaptation of industrial enterprises. There has been suggested an approach to developing a theoretical and methodological platform of the process of industrial enterprises’ adaptation as a targeted set of basic concepts, principles, theories, scientific methods, models, laws and categories, oriented towards the elaboration of an appropriate organizational and economic system.

219-227

Authors: Tarasova T. O.

The aim of the article is to study the role of controlling in modern system of social, ecological, economic relations and assess its capabilities in ensuring sustainable development of a business unit. Under these conditions the concept of controlling should focus on the development of translational capabilities, which provides for the extension of accounting and analytical support functions forming the information environment of the data bank and the knowledge base of management of future events. Taking into account the new management philosophy, it is appropriate to consider controlling as a socio-economic cross-functional management technology, which forms the information space supporting operational, tactical and strategic management by using the mechanism of internal management actions of the reflex nature aimed at sustainable development of the enterprise. There proposed a new direction of the controlling concept based on the philosophy of sustainable development of the enterprise and includes the following translational components: basic and auxiliary business processes; centers of responsibility in the system of business architecture, planning and budgeting systems, motivational tools. In view of the basic management functions the following destination controlling elements are identified: the modeling of the organizational structure of the enterprise as a system of hierarchically dependent business units; formation of a system of operational and strategic planning; development of a tool support system (control values), which allows creating a multilevel system to control achievement of strategic goals and detection of deviations. There proposed a mechanism of forming the information environment of controlling, which includes six interrelated informative components – planning, organizing, monitoring, analysis, regulation consulting, which allows to bridge gaps in information communications in the control system in a single contour of controlling. There presented a model of conceptual environment of controlling in the system of sustainable development management, which serves as the theoretical basis for building the organizational structure of the subdivision of controlling at the enterprise and a methodological basis for accounting and analytical support of management functions and the formalization of the controlling procedures. This made it possible to form the priority objectives of controlling: growth of the enterprise market value; formalization of the evaluation and management of risks; creation of conditions for further development of the controlling system in the information society.

239-244

Authors: Yepifanova I. Yu.

The aim of the article is to analyze equity capital in the system of financial support of industrial enterprises’ innovative activity and determine directions of increasing the efficiency of its use. The work considers the essence of financial support of innovative activity. There studied enterprises introducing innovations in the EU and Ukraine, the share of domestic expenditure on R & D in the GDP. It has been determined that the European countries have significant gross domestic expenditure on R & D, which in most countries has positive dynamics of growth. The funding sources of domestic enterprises’ innovative activity have been analyzed. It has been found that the innovative activity of domestic enterprises is funded primarily by means of equity capital, which is caused by the high cost of bank credits, the lack of access to government funding, the low percentage of investors’ funds. The components of equity capital that can provide for financial support of innovative activities have been identified. For the successful implementation of innovative activity by means of equity capital enterprises should use not only such traditional sources as amortization charges and retained profit but also such component of equity capital as the staff. In addition enterprises should increase their equity capital through cooperation, mergers with other enterprises, formation of IFGs.

253-260

Authors: Gechbaia B.i N., Vanishvili M. M.

On the basis of the latest literary sources and rich factual material the article consistently analyzes and estimates the level of competition in the banking sector of Georgia. In the course of relevant studies it was found (with further confirmation in the economic life), that the competition in the banking market has certain specific features, which make it different from the competition that is present in other markets. One of important differences is that the banking market operates with money — a commodity with absolute liquidity, which can not be replaced by other commodities. Another important feature is associated with the mobility of financial capital in the banking market. There made a conclusion that, despite the fairly low level of crediting the Georgian economy, the burden of debt service on each of the borrowers is hard enough, which is caused by the high interest rates and short-term nature. Accordingly, the lowering of interest rates is not only desirable for the overall economic development but also is a prerequisite for achieving the further growth of the banks themselves.

267-273

Authors: Ivashchenko A. I.

The aim of the article is to analyze the main features of cryptocurrency with respect to the identification of main advantages and disadvantages of using cryptocurrency as a method of effecting cashless payments by small and medium enterprises in order to increase the level of their investment attractiveness. The article describes the basic characteristics of cryptocurrencies and Bitcon as the most common among them. The Bitcoin emission mechanism has been built and the dynamics of changes in the value, difficulty of its «extracting» or «mining», the market capitalization for 2009–2016 have been analyzed. In this connection the identified main trends and the relationship between the analyzed indicators are highlighted. The attitude of the authorities of different countries to «mining» and using cryptocurrency in calculations is shown, the monitoring of leading international financial institutions in terms of the use of Bitcoinis is carried out. In addition, the leaders among the existing cryptocurrency exchanges are determined, and the level of their market capitalization is shown, a comparative analysis of the traditional currency and cryptocurrency is conducted, an assessment of financial institutions that work with Bitcoin in Ukraine is performed, the attention being focused on the main advantages and disadvantages of using cryptocurrency in small and medium business. Taking into account all the positive aspects there justified the prospects of using the presented in the article finance cryptoinstruments, in particular Bitcoin, in order to improve the investment attractiveness.

281-286

Authors: Mardus N. Yu., Brik S. V.

The aim of the article is to study features of the normative and legal support of accounting and tax accounting at providing operations with warranty repairs comprising the secured in legislation right of consumers to obtain from the companies-producers (sellers) products (goods and services) of proper quality and cases of occurrence of warranty obligations to customers. To achieve the goal, the following tasks have been solved: the regulatory framework for the organization of warranty service (repair) from the point of view of the company-seller and reflection of operations associated with warranty repairs in accounting and tax accounting was studied. The article describes the features of the organization of accounting and tax accounting at warranty repairs based on the legislative and normative documents regulating relations that arise in the organization and implementation of economic activity between business entities and between the entities and other participants of relations in the sphere of economic activity

293-299

Authors: Ivanchenko H. F., Dalayeen Bader Omar Ahmad

The aim of the article is developing information tools for the economic and mathematical modeling of the dynamics of evolutionary processes concerning trophic relationships of populations of enterprises, which allowed to conduct the phase and bifurcation analysis of possible dynamic regimes of the populations’ evolution, determine the mechanisms of influence of the external environment and the internal structure of the system, identify patterns and limits of stability of M&A processes. In the work the main provisions of the evolutionary concept concerning development of the population of enterprises as an economic system are analyzed, the provisions of the evolutionary concept of population systems’ development are considered, the basis of evolutionary modeling methods allowing to analyze the functioning of populations of enterprises in terms of individual strategies of each enterprise’s behavior is studied. The basic principles of synergy of the life cycle evolution for populations of enterprises are determined. An evolutionary approach to the evaluation of a synergistic effect of M & A is proposed. The evolutionary modeling of the scenario for self-organization of populations of dairy industry enterprises through a combination of statistical and expert data is applied. There also created a model of the population of firms reflecting behavioral and resource and technological characteristics of the studied in the work real population of industrial enterprises, which form the input flows of matter, energy and information to the dairy industry, which allows to combine the reflection of main possible options in terms of the external conditions of the population functioning and its internal structure.

307-313

Authors: Pilko A. D., Savchuk N. V.

The aim of the article is to highlight the results of the analysis of existing approaches to statement and solution of problems of evaluating the economic security level of the region in the context of its territorial systems, and develop the author’s own scientific and methodical approach to evaluating the economic security level of the region’s territorial systems and modeling its threshold values on the basis of discriminant analysis and Euclidean distance. In view of the available statistical information, taking into account the results of our own previous studies of the problematic of economic security management, there calculated the integral index of economic security for territorial systems of the region, as well as the index of social tension in the territorial systems of the region, which became the basis for the development of discriminant models of determining security threshold levels. The analysis of the results obtained after using the discriminant models as well as models developed on the basis of the analysis of the weighted Euclidean distance has shown that they are comparable and complementary in their nature. In other words, the proposed methodologies can be successfully used in the practice of formulating strategies and target programs of regional development.