Socio-Economic Research Bulletin

20-29

Authors: Valeriy Goryachuk, Julia Nazarenko

The capitalization of enterprises as a process of creating value added is considered in the article, and its evaluation is carried out on the basis of the income approach. It is substantiated that the gross value added of an enterprise is a key indicator of an enterprise’s activity, both in terms of its capitalization and efficiency. The concepts ratio of «gross value added in actual prices» and «gross value added in basic prices», and also their place among other indicators of enterprise’s activity, is considered. As a key indicator of enterprise’s capitalization, has been proposed to consider of its public value. It is proposed to carry out its assessment on the basis of methods of discounting cash flows and direct capitalization of income. Discount rate was calculated by the cumulative method. The growth rate of gross value added of Ukrainian enterprises in 2012–2017 at actual prices was calculated within the framework of the exponential function model. Along with the concept of «public value of an enterprise», the concept of «private value of an enterprise» was defined as a value which creates added value for enterprise’s owners (the sum of net profit and depreciation). A comparison of Ukrainian enterprises public and private value by type of activity showed that the first one is significantly less than the second one and in 2014 and 2015 the country’s enterprises private value was negative. In capitalization context, the concept of «labor productivity» is defined as a volume of gross value added per employee. According to the research results, the concept of «public value of an enterprise» is proposed as a value, which creates of an enterprise’s gross value added. It is proposed to evaluate it by the direct capitalization method of gross value added. Calculations of Ukrainian enterprises public value in 2012–2017 at actual prices are showed his increasing of more than 2 times, due to high inflation rates. On the contrary, the evaluate at constant prices in 2012 indicates a drop of 8,4%, especially in industry, where the decrease was almost a third (32,3%), which indicates the deindustrialization process in the country’s economy.

44-52

Authors: Yana Salo

The article considers of macroeconomic indicators dynamics that influence on the middle class formation. Analysis was performed in sufficiently deep dynamics, which allows us to form a representation about the middle class conditions formation, his becoming and directions of perspective development. The above dynamics for fairly a long time period displays almost the whole transformations picture, which appear in the macroeconomy of Ukraine. Selected statistical data depending of the population income from GDP in national currency and in US dollars are presented for conduct such an analysis. An assessment of such macro-indicators as inflation, the level of employment and unemployment, external public debt, etc. is given. Unfortunately, the considered macroeconomic dynamics in the main system-forming middle class indicators cannot be recognized as steadily increasing. But she is allows us to assert with sufficient certainty about the dialectical presence of economic prerequisites for highlighting of the population proportion, which can be attributed to the middle class. Great influence on the population income, and consequently, the middle class, is unemployment, which reflects the state of country’s socio-economic development, the availability of jobs, the quality of educational training, and others. The number of middle class in the country is directly related with migration processes. The specificity of the Ukrainian migration lies in the fact that it has become a characteristic feature of the life way for a significant part of population. The labor migration increasing is accompanied by a certain reorientation of its flows from the traditional east to the west direction. It is emphasized that a stable socio-economic growth of the country is the main factor in the middle class share increasing. The middle class formation is considered as an important criterion for the reforms effectiveness that are being carried out in the country today.

65-76

Authors: Yuri Pozdnyakov, Yuri Sadovenko

The article analyzes the requirements for the useful lifetime determining of specific intangible assets, such as trademarks and goodwill, which are able to change value over the term of economic life in both directions and thus they can change the sign of accumulated depreciation. The requirements of the regulatory framework of accounting and independent evaluation, which are partially contradictory, that creates a normatively-legal collision between them, are considered. It is shown, that the pattern in market value changes with over time, and, accordingly, the depreciation sign of the investigated assets depends on the of measures implementation for their support and development, supported by appropriate investment of cash flow costs. It has been established, that during of a trademark useful livetime period, it is possible to repeatedly change of depreciation sign on certain periods of its economic life, depending on whether, the measures for its information and advertising support are carried out in sufficient quantities. The factors list, which should be taken into account when a trademark useful lifetime determining is identified and analyzed. Authors proposed, in the most general case, when further efficient use of the trademark is envisaged, to consider it an intangible asset with an indefinite (unlimited) useful lifetime. It is proved that intangible assets of this class are not advisable to depreciate in accounting, since their accumulated depreciation under normal conditions is negative, and when evaluating their value in the general case, the normal profitable activity of an enterprise should be determined with using of market value increasing model over time.

89-101

Authors: Oleksandr Davydov

The article considers the development questions of the financial evaluation concept of enterprises fundamental and stakeholder value added from the standpoint of financial result of their activity determining. The conceptual approaches to the value of financial result determining and the possibility of their using for the financial evaluation of enterprises fundamental and stakeholder value added are analyzed. It is proved that the problem of financial evaluation of enterprises fundamental and stakeholder value added can be solved by the financial result determining on the basis of corresponding income and expenditure comparison. The conceptual vision of financial evaluation of the fundamental and stakeholder value added as a process of the financial result determining in the form of the difference between the income received and the associated costs, which quantitatively characterizes an enterprise’s additional financial benefits and its key stakeholders, is presented. The transformation of income and costs content in the financial result determining in the financial evaluation concept of enterprises fundamental and stakeholder value added is investigated. A structural-logical model for the financial evaluation concept formation of enterprises fundamental stakeholder value-added was built. A conceptual interpretation of enterprises fundamental and stakeholder value added indicator as a strategic financial result is proposed. It is substantiated that the strategic financial result in the financial evaluation concept of fundamental and stakeholder added value is defined as the difference between an enterprise’s income and non-strategic explicit costs and implicit costs. The content and qualitative characteristics of the financial evaluation concept of enterprises fundamentally-stakeholder value added are disclosed based on the strategic financial result definition.

111-117

Authors: Anna Kryzhanovska

The article considers the theoretical basis for determining of the retail industry enterprises effectiveness as an object of management. The approaches of foreign and domestic scientists to the definition of enterprises performance management concept are investigated. An approach to managing of the retail industry enterprises effectiveness, which using a modern methods of sales volumes forecasting, is considered, in particular, the methodology of approach to the multivariate econometric modeling with dummy variables in forecasting process of key performance indicators dynamics of retail industry enterprises using, is demonstrated. The basic econometric patterns of the predicted values dependence of sales volume on the main factors are formed. Visualization of the forecasting idea of the volume of revenues of retail enterprises is proposed. The expediency of described methodology applying for effectiveness improving of the retail industry enterprises activity is substantiated. The list of permanent nature measures, which aimed at the enterprises activity effectiveness increasing through the forecasting modern methods using of the main indicators of revenue side of their budgets are proposed. Conclusions and prospects for further research, which were made in this article, include of the retail industry company’s real indicators in-depth analysis and the software implementation, which proposed in the process of research and subsequent work.

128-136

Authors: Oleg Babyii, Kateryna Tymchenko

The tendencies of the world and Ukrainian market of wine-making products development in modern conditions of increasing its consumption and competition from new wine-making countries are investigated in the article on the basis of a critical review and analysis of literary sources. The author examines the major wine producers export and revealed, that the world leaders in wine exports are France, Italy, Spain, Germany and Portugal. The main world wine importers are considered and revealed, that the world’s leading of grape wines producers are the USA and Germany. Viticulture and winemaking have always been important types of economic activity in Ukraine as a whole, and, in particular, in Odessa region, which accounts for more than 30% of the total production of grape wines of the country. That is why the author investigates the dynamics of the gross collection, the area and productivity of vineyards in Ukraine and Odessa region, the volume of grape processing on wine materials by regions, the production of wine materials by regions of Ukraine. The authors highlighted some challenges of the wine market, such as: a decline in grape yields; lack of funding of the wine complex; inadequate care of plantation; high costs of material and technical resources; excessive thinning of plantation. The main directions of the problem solutions in the wine sector are proposed: to make arrangements for wine market capacity increment taking into consideration the needs of population, their buying capacity and maximal export potential; implementation of measures for infrastructure development of wine market, regulation of supplies and demands, market protection from the import of wine and raw materials of low quality. It has been established that for the Ukrainian economy at the present stage of development, the most important task is to increase the efficiency of export opportunities for wine products, because it is of high quality and has high international competitiveness, which has been confirmed by domestic and foreign experts and consumers.

148-158

Authors: Irina Lytovchenko, Yana Avdiienko

One of the most promising ways out of crisis phenomena in the Ukrainian industry can be use of subcontracting relations between large-scale enterprises. A comparative analysis of the main forms of production cooperation was carried out, the role of subcontracting and the necessity of its application in modern market conditions is identified. The own definition of the «subcontracting» concept is given, which, in comparison with previous interpretations, takes into account market changes in the conditions of a digital economy and it is based on information and communication technologies. The world experience of subcontracting relations in the Europe, America and Japan countries is analyzed, and their modern classifications and classification marks, which allow determining the future own development vector of subcontracting for Ukrainian entrepreneurship. The inclusion of an additional classification attribute «use of information technologies by subcontracting participants» along with the previous ones, such as «criterion for selecting an executor of an order», «duration of relations between the cooperation partners», and «structure of cooperative relations building», is proposed. The own vision of methodical principles for economic effect determining of introducing subcontracting, which previously did not take into account the marketing component of functioning (marketing research costs, information and subcontracting partners search, internet-marketing, marketing audit and other services (insurance, consulting, certification, etc.). The prospects for further development, which consist in the marketing and analytical function of subcontracting use, the services creation and promotion with order to increase the economic effect of subcontracting use, which is a new the development vector of this form of industrial cooperation, are considered.

169-180

Authors: Nataliia Smyrnova

The scientist’s approaches to determining of logistic innovations types and directions of innovative development in logistics are investigated in the article. The world tendencies of digital technologies development and social networks using are analyzed. The competitive advantages of traditional and «digital» business formations are investigated. The development trends of Logistics 4.0 are determined. Ten main directions of digitization in the Logistics 4.0 innovative development, which can be divided into three groups: data processing, collaboration (pooling) and automation, are highlighted. These directions include Big data, Internet of things, Open data, digital merging firms, Crowd-solutions for the last mile, transport and storage robotization, 3D printing, exoskeletons, Block chain technology and smart contracts, Machine Learning technology. The problems, advantages and application prospects of Вig data estimation in the logistics functional spheres have been carried out. The role of Internet of things technologies in logistics companies is considered. Open data logistic data registers creating with information visualization are proposed, which will significantly increase of outsourcing efficiency in logistics, and can be financed through government assistance and Crowd funding (collective cooperation of logistics companies). Examples of firm’s digital merger are given. The crowd sourcing using in logistics and its advantages are considered. The robotic devices types, which can be used by logistics companies, prospects and their application implications, are clarified. The possibilities of 3D-printing and exoskeletons using in logistic operations are considered. The Block chain technologies application analysis in logistics organizations have been carried out. The advantages and Block chain technologies and smart contracts using perspectives in compliance of the logistics principles are substantiated. The advantages of Machine Learning using in management improving in such of logistics functional spheres, as purchasing logistics, inventory management, warehouse logistics, marketing logistics, and distribution logistics, are estimated. It was proposed these directions implementation in logistics by Ukrainian business entities, which will allow them to achieve significant competitive advantages.

193-202

Authors: Tatyana Fedorova

The article analyzes the approaches to the concept of «business model», which are used in the modern economy. The necessity of innovations bringing to existing business models in the digital economy, especially in the B2B market, is substantiated. The emphasis is placed on the need for business models typing, namely, on the extroversive and introversive approach. Changing the intermediary companies function and role in the value chain contributes to the active use of existing means of transition to new forms of interaction with all market participants. Differences in marketing activity management of enterprises with the platform and linear approach using are clarified. It is shown how a change in the management approach affects the definition of criteria for the efficiency of commercial activity: from profit growth, as it was before, to growth of contacts number and transactions in organizations, which constructed on the platform principle. It was revealed that the approach to the users role in the buying process and their segmentation is changing – they become the company’s capital assets with platform business models, as they themselves possess the necessary resources and provide them to other participants for use. The main objectives of platform marketing management lie in the decision from what segment and transaction the company will be able to get profit and also providing such environment, where users will be able to realize conveniently the desire in interaction at the market. The formation of holistic value chains based on new business models, which shaped under the influence of information technology and trends in the modern economy, is proposed. The introduction into the existing business models of the management platform type elements, which will help to realize a new opportunities for intermediary structures, is substantiated.

212-219

Authors: Svetla Rakadzhiyska

The article considers the modern conditions influence of world development, which are characterized by a high degree of uncertainty and rapid technological progress on the tourism activity dynamics and the need to find a new business models for competitiveness ensuring and sustainable development in the tourism sector. The concepts of “tourist identity of location”, “tourist attractiveness of territory” are clarified and expanded. The main factors affecting the correlation between the tourist identity of the destination and tourism sustainable development, in accordance with the M. Lindstrom “Manifesto of the Seven Pillars”, who fully discloses the marketing approach to formation and diversification of tourist product, are considered and analyzed. It is determined that the main factor for the formation and maintenance of the tourist identity of each direction is the physical environment ‒ nature, infrastructure and superstructure, with their respective specific characteristics, as well as history and culture, lifestyle, traditions and beliefs, creative and innovative views of population. The study is based on the idea that the individuality of each tourist destination is a prerequisite for observing the principles of sustainable development and neutralizing the negative consequences arising through the application of marketing approaches to ensure better interaction between the demand and supply of tourism services. Based on the study, it was concluded that the limited capacity of tourism resources, on the one hand, and the growing need of the world’s population for active participation in tourist trips, on the other hand, require actions by parties interested in the tourism business at different levels for resources conserve providing of quality services.

234-241

Authors: Ganna Muzychenko, Ding Xin

The article examines the evolution of Ukrainian-Chinese relations in terms of the influence of political and legal factors on their state as well as on the trade and economic relations development. Five stages of development of relations between countries are identified, which have replaced each other as a result of intensified or slowed down political dialogue between countries, characterized by their own formula of cooperation and have always remained friendly. There were no political disagreements between the countries, although certain stages of slowing down of relations took place and were mainly related to the lack of political dialogue at the highest level due to the change of Ukrainian foreign policy’ priorities in 2005‒2010 and 2014‒2016 years. The establishment of a strategic partnership in 2011 was preceded by a mutually beneficial cooperation, a long-term relations, then a constructive partnership. Now the state of Ukrainian-Chinese relations is declared as a strategic partnership and strategic priority with the prospect of growing into a state of political interaction in the international arena, which is supported by a sufficient regulatory framework. The achievement of political and legal understanding between the countries was facilitated by the political dialogue restoration between Ukraine and China in 2017, the next step is the promotion of trade and economic cooperation, which has not yet reached its historical peak of 2013, but has new perspectives. The tool for deepening partnerships between countries is Ukraine’s full participation in the Chinese global initiative «One Belt, One Road», for which it is necessary to diversify forms of cooperation, expand the range of investment projects, determine the conditions for creating a free trade zone, etc. It was determined that following a new Silk Road functioning principle ‒ «mutual benefit and common gain» ‒ will reduce in the future the influence of political and legal factors on trade and economic cooperation.