Business Inform

8-13

Authors: Ushakova N. G., Pominova I. I.

The article is aimed at defining the place of behavioral economics in the paradigmatic structure of modern economic theory and its role in the development of modern economic knowledge. Poor attention of the classical economic theory to the behavioral aspect of decision-making by economic actors in the face of increasing instability and uncertainty of economic development has caused actualization and popularization of researches in the sphere of behavioral economics. It is emphasized that only the research construct of the theory of behavioral economics allows understanding of the irrational phenomena of economic behavior. Based on the identification of the general and distinctive characterizations of the neoclassical and the behavioral theories, as well as taking into account expert estimations, it is proved that the behavioral economics expands the theoretic and methodological basis of modern economic science through introduction of researches on the cognitive-psychological mods of the subject making economic decisions. It is defined that modern economic theory has a polyparadigmatic character, which is caused by the dominance of branching and heterogeneity of scientific interpretations of one and the same economic phenomena and problems. As a result, complex forms of coexistence and interaction of scientific paradigms are present and variations of interparadigmatic synthesis become possible, such as the active development of the theories of behavioral economics, e.g.: cognitive economics, neuroeconomics, etc. The development of behavioral economics takes place in cooperation with other modern economic theories (modern neoclassic, experimental economics, neo-institutional theory, evolutionary theory, etc.), but its applied potential is much greater, which transfers the behavioral economics from the scientific «periphery» to the «center» of the paradigmatic structure of modern economic theory.

22-27

Authors: Zhyhlei I. V., Tymoshchuk K. V.

The article is concerned with researching the status of the regulatory legislation on the foreign economic activities in Ukraine, analyzing legislative changes in the sphere of foreign economic operations, defining their causes and predicting the consequences. The creation of favourable legislative and tax conditions in the area of export-import operations will facilitate increase in the volume of foreign investment in Ukraine, which, in turn, will stimulate construction of new production enterprises, increase in the number of jobs and income growth of the population, and, accordingly, growth of the national economy as a whole. Works of Ukrainian and foreign scholars, aimed at researching problematic issues in the sphere of foreign economic activity are considered. The experience of other countries’ transition to the system of free floating of capital is analyzed and the existing risks of liberalization of the legislation on currency are defined, which are mainly dependent on the country that implements it. In order to introduce a liberalization of such kind, a country must achieve a sufficient level of economic and institutional development, otherwise the country can be exposed to crisis developments. Key points of legislative changes that are needed to ensure free floating of capital are identified. The reasons for the liberalization of currency legislation are defined, and the impact of the consequences of its introduction on the activities of enterprises and the economy of Ukraine as a whole are forrecasted. Changes in the legal instruments are analyzed and the consequences of their introduction are defined. Further directions of reforming the regulatory acts in the sphere of foreign economic activity, which provide for the easing of currency settlements, are proposed.

36-42

Authors: Puriy H. V., Slyusarenko K. V., Kulishov V. V.

The article is aimed at researching the cyclical fluctuations and tendencies of emigration from Ukraine. Priority countries of emigration of Ukrainians at the present stage are determined; fluctuations in the net migration of Ukrainians along with the population numbers are analyzed; dynamics of the workforce volumes are explored; promising tendencies in emigration from Ukraine are evaluated; waves of emigration of Ukrainians are identified, their quantitative and qualitative characterizations are presented; basic principles and priorities of the country’s employment policy are outlined. Ukraine is significantly inferior to most European countries in terms of the level and quality of life of the population, and this is what prompts the relocation of some active and ambitious individuals who see migration as a reliable way to improve their standard of living. For the most part, Ukrainian migrants do not compete in destination countries with the local population for prestigious job vacancies in the labor market, but occupy less attractive jobs. A destructive consequence of mass emigration and the deterioration of the political and economic situation in the country is a rapid decline in the population of Ukraine. With the current migration tendencies, the next wave of emigration will lead to the departure of able-bodied young people from Ukraine, which carries the threat of depopulation and economic crisis. The uneven structure of the population with the predominant number of socially unprotected segments of the population makes economic development impossible for the country. It is substantiated that there is a need for proactive, flexible and securitized policy of employment of the population in Ukraine. With the development of the information society and the digital economy, Ukraine should support the introduction of information and communication technologies in the labor market, promote new types of social and labor relations, as well as new approaches to management of human resources.

51-56

Authors: Havrylchenko O. V.

The article is aimed at analyzing the theoretical and methodological approaches to diversification of Ukrainian exports under conditions of economic crisis and loss of foreign markets. The essence and reasons for export diversification are considered, the structure and tendencies of development of national exports are explored. The carried out analysis of the structure and dynamics of Ukrainian exports showed the need to diversify Ukraine’s products with the purpose to gradually turn into a State with an innovative knowledge-intensive economy. This will help to restore economic growth and achieve a certain level of competitiveness. According to the results of the analysis, a large diversification of Ukrainian exports due to the gradual decrease in Ukraine’s focus on the CIS markets and, in particular, on the Russian market, is specified. Ukraine for now insufficiently uses trade opportunities with countries such as the United States, Germany, Great Britain, France, Japan and Canada. In general, the State underutilizes the trade potential with 75 world countries and thus underreceives about 6 billion US dollars. It is substantiated that in the conditions of economic crisis and loss of external markets it is advisable to use the opportunities of innovative and inertial directions of diversification. A methodology for evaluating export diversification at the regional and enterprise level is proposed, which should become the basis for determining methods of diversification and identifying measures aimed at optimizing the commodity structure of exports. Understanding the main stages of export diversification of enterprise is an important condition for its further implementation.

63-70

Authors: Tymoshenko O. V.

The article is concerned with the topical issues of forming the main priorities of Ukraine’s socio-economic development, taking into account the experience of developed European countries as the main strategic guide line out of the crisis. The author carries out a comparative analysis of the socio-economic and political formation of Ukraine for the period 1991-2019. It is concluded that at the stage of its statehood formation Ukraine used one of the most ineffective models of transformation of economic systems among all post-socialist countries. A comparative analysis of the main indicative indicators of the efficiency of macro-economic, socio-demographic, foreign economic policy of Ukraine and the European Union countries is carried out. It is noted that a significant competitive advantage of the Ukrainian economy is a fairly high share of agricultural land, which makes it possible for Ukraine to become one of the world leaders in this market. The main priorities of reforming Ukraine’s economic system, taking into account the experience of European countries, are substantiated: developing a highly effective policy of re-immigration; promoting the establishment of regional centers for development of science and education; elaborating measures to increase the share of high-tech exports; reducing the openness of the economy through import substitution policies; restoring the national production, industrialization of the economy. The main directions of cooperation between Ukraine, the European Union, the European financial institutions with the purpose of mutually beneficial bilateral trade and increased access to financing are outlined.

79-85

Authors: Sheketa Y. Y.

The article carries out analysis and assessment of the fiscal burden on the entities of economic activity in Ukraine, researches the issues of tax optimization as the main prerequisite for the unshadowing of business and improving the investment image of the country. Because an efficient, «smart» and balanced tax policy is the primary source of sustainable development of the economy, the motivating factor, which, by means of fisk, facilitates the growth of the country’s investment attractiveness. The necessity for the tax regulation and stimulation of environmentally friendly, waste-free alternative industries is substantiated, because this issue has become the main challenge of functioning of the economic system of Ukraine as a whole. A number of major shortcomings of Ukraine’s existing tax policy is allocated. A comparative analysis of the tax pressure for several types of taxes in Ukraine and the European Union is carried out. The main negative aspects of the previous tax reform on the specific types of taxes and the social contributions (income tax, value-added tax, profit tax, single social contribution) are formulated. The author substantiates the expediency of a gradual introduction of the tax on withdrawn capital with the simultaneous abolition of the income tax, which will be the main motivating factor for the accumulation of financial resources from the economic entities and the source of their reinvestment, to expand operations, create new jobs and introduce new high-tech kinds of production. The main constraints of business development in Ukraine are analyzed, among which the most common are the following: high levels of corruption and inflation; existence of a military conflict in the country; fierce competition and insecurity on the part of the judiciary, etc., but the greatest share is reserved to the significant tax burden, complexity of tax administration, and pressure on the part of the State fiscal authorities.

92-98

Authors: Sharko V. V.

The article is aimed at exploring the status of economic activities and defining the principles of formation of a competitive strategy for innovative development of machine-building enterprises. The branches of the engineering complex of Ukraine are grouped; volumes of expenditures are analyzed according to the directions of industrial innovation of industrial enterprises and to the indicators of innovation at industrial enterprises; key principles of formation of a competitive strategy for innovative development of machine-building enterprises are allocated. The expediency of forming a competitive strategy for innovative development of machine-building enterprises is substantiated, which is based on the following principles: purposefulness, objectivity, adaptability and mobility, hierarchy, strategy, scientific validity, systemicity, optimality, complexity and coherence, competitiveness, sustainability, participativity and social orientation, balance, innovation and development, efficiency, validity of the indicator support, economic efficiency. Measures to address the problems of innovative development of machine-building enterprises are proposed, e.g.: developing and implementing effective programs to support and stimulate innovative development; providing governmental guarantees for projects that involve introduction of modern technological processes; creating a favorable investment climate that will attract means of foreign investors from the global financial market; introducing a system of benefits for enterprises; establishing a system of progressive taxation for entrepreneurs; developing a credit support system; creating an efficient regulatory framework; refocusing foreign economic activity on high-tech exports.

104-109

Authors: Kryvorotenko A. V., Levchenko A. O.

The article is aimed at studying the mechanism of transfer of relevant and qualitative knowledge at the current stage of development of the national economy as one of the main principles of cooperation of the main actors in the economic market. Achieving such a result is possible only if the resources and powers of central, regional governments, local governments, scientific institutions, educational institutions and enterprises are co-operative, as well as target objectives are combined into a single system. The article carries out a structural analysis of the current status of the mechanism of transfer of knowledge in the world and in Ukraine. The domestic and foreign scientific-methodical basis for the transfer of knowledge in the higher education system is researched. An analysis of the main commercial forms of transfer of realized knowledge is carried out. The essence of leasing mechanisms, patent and licensing trade in rights to industrial property and joint entrepreneurship are explored. The essence of the concept of technopark and its key characteristics are defined. The cycle of transfer of quality knowledge between higher education institutions and the production sector is considered and a classification of the main types of knowledge transfer is provided. Also considered is the model of quadruple helix and its constituent elements. The relationship between the key participants in the transfer process of knowledge according to the quadruple helix model is researched. Alternative definitions of knowledge transfer concepts and knowledge transfer center are suggested. The essence and main advantages of creating knowledge transfer centers on both the commercial and the State basis are covered.

117-122

Authors: Rekun G. P., Medenets V. V.

The article examines one of the pressing problems of management theory, related to the definition of the concept of «personnel gaps». Influenced by the process of decentralization in Ukraine, the problem of personnel provision of regions has become widespread popularity. In regional development, human resources play an important role in the development of the territory as a whole, not individual enterprises. That is why the article is concerned with exploring the human resources as a key factor in the development of regions in Ukraine and other countries of the world - in order to identify and further on prevent the prerequisites for occurrence of personnel gaps. The current tendencies of personnel reproduction in the developed world countries are analyzed. The factors of reduction in human resources in Ukraine compared to other world countries are considered in particular detail, which is subsequently reflected in the personnel gaps. At the same time, the idea of rather positive influence of development of the latest technologies on personnel resources is defended, provided that there is a full-fledged market relations. After analyzing the experience of developed countries in the introduction of basic unconditional income, it was found that these activities were aimed at improving the morale of human resources rather than motivating them to find decent work. The introduction of basic unconditional income in Ukraine at the moment is impossible because of the threat of loss of business sentiment among citizens, as well as the lack of free sources of raising funds. Identifying and systematizing personnel gaps allows us to focus on the problems that stand in the way of regional development in the country. Prospect for further research in this direction is to define measures to prevent personnel gaps based on the solution of this global problem already studied and analyzed by foreign experience.

130-135

Authors: Pilko A. D., Vatseba M. R.

The publication presents the results of a research on the existing practice of analyzing the regional potato market in terms of production and consumer potentials. By examining existing approaches to the analysis of the regional potato market, as well as the use of economic analysis techniques together with an applied econometric instrumentarium, it has become possible to offer the authors’ own approach to the solution of the task of analysis of both the production and the consumer potentials of the regional potato market on the example of the regions of Western Ukraine. Building-up and econometric analyzing of the models of dependence of potato production and consumption on key factors in each of the regions of Western Ukraine allowed to track the cause-and-effect relationships between the main parameters of the researched food market in the context of ensuring the region’s food security. The calculated projections of the use of the resource capabilities of the regional potato market and the consumption of this type of food give every reason to conclude about the expected slight increase in use of the production potential against the backdrop of declining use of the consumer potential. This is explained due to a decline in real consumer capacity against the background of the growth of the production self-cost of potatoes in all categories of farms. Practical use of the developed approach in the process of analyzing and calculating projected efficiency values for the use of the production and the consumer potentials of the regional potato market (with appropriate model calculations and taking into account the possible lag effects because of changing economic conditions) will potentially allow a qualitatively new approach to the formation of mechanisms for ensuring, analyzing and monitoring the food security of Ukraine’s regions.

144-151

Authors: Yarmolenko V. V.

The article is aimed at identifying modern features of insurance in the agricultural sector of the Ukrainian economy and defining the factors of influence on the agricultural insurance market. Agriculture is highly risky, and the issue of using agricultural insurance as a method of reducing future losses of benefits is topical. The article discloses interpretation of the terms of «insurance» and «agricultural insurance» and also presents the types of possible risks arising in the activities of agricultural enterprises. The performance indicators of leading insurance companies in the field of agricultural insurance are analyzed. The current state and dynamics of insurance of agricultural risks, which arise both in the field of crop production and in livestock, are researched. This will allow predicting the future prospects of the market for insurance services and products, as well as finding possible optimal ways to solve the problems of product insurance, faced by the agricultural producers. The main factors influencing the efficiency of the insurance market in the agricultural insurance sector are allocated. The basic principles of insurance of agricultural products with the State support are analyzed. It is defined that the further development of agricultural insurance should be directed towards creating a profitable and safe environment for all participants in the agricultural market, which provides for the distribution of risks between agricultural producers, processing enterprises, banks, insurance companies and the State. The agricultural insurance of risks creates possibilities for advantageous harmonizing the interests of participants in the agricultural insurance market and the State as a party whose first priority is to ensure stable economic growth, the well-being of citizens and their social protection.

161-170

Authors: Melnyk M. I., Leshchukh I. V.

The article explores the tendencies of entrepreneurship development in region (on the example of the Zaporizhzhya region). Based on the statistics of the State Statistics Committee of Ukraine and the General Directorate of Statistics in the Zaporizhzhya region, the article analyzes the main indicators of the activities of the economic entities in this region; the main indicators of the financial-economic activities of the enterprises in the Zaporizhzhya region (by types of economic activity); financial results before taxation per enterprise in the Zaporizhzhya region; financial results before taxation of enterprises in the individual regions of Ukraine; the main structural indicators of the small enterprises’ activities in the individual regions of Ukraine. Some data on entrepreneurship development in several regions of Ukraine are compared with the corresponding indicators of the Gomel region of the Republic of Belarus. The carried out research allowed to state the following: change in the structure of the region’s economic entities during the research period towards an increase in the share of enterprises and, consequently, a decrease in the share of individuals - entrepreneurs; the lower rate of decline in employment in the Zaporizhzhya region than in Ukraine as a whole; a high proportion of innovatively active industrial enterprises in the total number of industrial enterprises in the Zaporizhzhya region compared to the neighboring regions (except Kharkiv region) and the country as a whole; positive tendency in the volume of sold innovative products by the region’s industrial enterprises; increased importance of the small business’ influence on the economic development of the Zaporizhzhya region, as evidenced by the high average annual growth rate of the number of small enterprises in the region compared to a number of neighboring regions, as well as the growth of volume of the products (goods and services) sold by small businesses. It is determined that the importance of business development for the Zaporizhzhya region is conditioned by the need to move from the model of economic development based on the activities of large enterprises - processors of raw materials to more diversified and open economic model based on small and medium-sized entrepreneurship with high innovation potential, resilience to crisis phenomena and the ability to adapt quickly to new economic conditions and environmental challenges. Therefore, the first-priority measures are: modernization of the outdated equipment and technologies; introduction of energy-saving technologies, alternative energy; spatial deconcentration of economic entities.

179-184

Authors: Volosnikova N. M.

The article is aimed at researching various aspects of information flows and information provision of integrated logistization of processes at enterprises in today's environment. Methodological and scientific approaches with regard to the formation and developing information flows and information provision of the integrated logistization of processes at enterprises are elaborated and their economic efficiency is substantiated. The model of a viable system of integrated logistization of processes at enterprises is analyzed. The total aggregate of methods for assessing the efficiency of information flows and information provision of the integrated logistization of processes at the micro-level is considered. It is concluded that the problematic nature and ambiguity of the final vector of the development of logistics processes under changing market conditions lead to the need to intensify scientific research, theoretical rethinking and stabilizing the ongoing changes. Further development of economic relations, being formed in an unstable external environment, requires highly efficient means and methods of managing logistics processes.

193-199

Authors: Yerina A. M.

Increased military tensions, changes in weapons systems, forms and methods of confrontation are fuelling increased demand for armaments and increased military spending in virtually all regions of the world. Without an awareness of the real level of the military power of countries, the dynamics of their changes and the directions of further development, it is impossible to build a perfect system of national security, to specify possible military and political threats, develop instruments to counter these threats and the scenarios how to neutralize them. The article is aimed at highlighting the current patterns of militarization processes at the global level, identifying both regional and national features of militarization, carrying out a comparative analysis of military power and combat capability of the armies that are at disposal of the geopolitical players. Based on data from international analytical centers, which are in one way or another related to security and defense systems (SIPRI, BICC, IISS, etc.), the article highlights global trends and regional features of increasing the defense budgets as determinants of the military power of countries and the combat capability of their armies. Measuring together with the international comparisons of the multifaceted militarization processes are based on indicators of the international rating systems: the military power of countries and the combat capability of armies – based on Global Firepower (GFP); the militarized burden on the economy and society as a whole, based on the Global Militarization Index (GMI). The methodological aspects of the formation of these mentioned international ratings are also considered, the results of positioning in the rankings for the top countries and Ukraine, which has been suffering from Russian hybrid aggression for five years, are displayed.

205-210

Authors: Laichuk S. M.

The article is aimed at defining the place and role of the working chart of accounts in the company’s information system, as well as allocating problematic issues related to the process of developing and implementing a working chart of accounts by domestic enterprises. The normative legal documents on regulation of the list of accounting records, which can be used by enterprises, organizations and institutions, are considered. The emphasis is placed on adapting the legal requirements to the company’s practice and its industry features in the formation of a working chart of accounts. The problem, which is allocated, lays in the designing of the enterprise’s information system when building a working chart of accounts in terms of determining its volume. The possibility of small business entities choosing to apply a common or simplified chart of accounts is emphasized. It is concluded that the model of the working chart of accounts of budgetary institutions requires some preparatory work at the level of the central regulatory body - the Ministry of Finance of Ukraine. Prospect for further research is the continuation of theoretical research on the technical component of the accountance of domestic enterprises.

217-222

Authors: Vasilieva L. M., Shevchenko T. I.

The article is aimed at studying accounting policy as an instrument for formation of accounting information in management. The essence of the concept of of «accounting policy» is analyzed. It is determined that the full and truthful reporting of the enterprise’s financial results and financial status depends to a large extent on the level of formation and application of accounting policy that takes into attention the conditions of the enterprise’s activities, organizational and technological features etc. It is noted that modern accountance should be seen primarily as an information base used for taking efficient managerial decisions. The authors allocate the importance of accounting information and its principles in the formation of accounting policy: sufficiency; usefulness; objectivity; accuracy and relevance. Criteria for the importance of accounting information in the formation of accounting policy are formed. It is proved that accounting policy, as an instrument for formation of accounting information in management, should ensure the following: full reflection in the accountance of all business facts; accounting of business facts is reflected not only upon the basis of their legal form, but also upon the economic content of the facts and the conditions of the economy; identity of the data from analytical accounting with the turnovers and balances; rational and economical accounting based on the business conditions and the size of enterprise. The aspects that need to be taken into consideration when forming accounting information as the basis of accounting policy in management are defined, i.e.: accounting information should integrate both financial and operational (non-financial) information; development of accounting information should facilitate the achievement by the economic entity of its strategic objectives; accounting information should contribute to understanding the causes of events and phenomena that have occurred in the economic life of the enterprise.

230-238

Authors: Koroviy V. V.

The article discloses provisions regarding the functioning of the main instruments and mechanisms of the State’s monetary policy, in particular the definition and regulation of the mandatory reservation norms, interest policy, refinancing, currency interventions, operations with securities in the open market, as well as the peculiarities of their application in the context of adaptation of inflation targeting. The theoretic-methodological bases of the use of monetary instruments in the context of institutional changes of the financial system are deepened. Goals are defined and the main indicators of Ukraine’s monetary policy for the period of 2001-2019, including the consumer price index, interest rate, monetization of the economy, official rate of the national currency to the US dollar, international foreign exchange reserves are analyzed. It is substantiated that the State represented by the central bank through the channels of monetary policy can stimulate economic development in accordance with the priorities of its financial-economic policy to support economic growth, maximum employment, price stability and external economic equilibrium. The transmission mechanism of monetary regulation and the main channels of its implementation are considered taking into account the cyclicality of the economy. The need to strengthen coordination of the monetary policy measures with other components of the State’s financial policy, in particular fiscal policy, is substantiated. The expediency of using both symmetrical and asymmetric monetary regulation in various macro-economic conditions is characterized. The basic principles of the central bank’s activities are defined, ensuring that the processes of endogenous economic growth can be effectively regulated by monetary means.

245-251

Authors: Honcharenko I. H.

The article is aimed at improving the instrumentarium of risk analysis associated with the use of banks’ services in order to legalize the proceeds of crime. The main directions of scientific research on analysis of the risks of money laundering through banking institutions and ways to counter such risks are analyzed. The carried out analysis showed that most of the proposed approaches are aimed at analyzing the risk of money laundering at the macro-economic level, including the analysis of the number of reports about suspicious operations, where the content of the financial operations as such is not always taken into account. The article suggests to use the analysis of the indicators of both debiting and cash withdrawal in Ukrainian banks as an additional instrument for analyzing the risk of legalization of criminal proceeds. The choice of such an instrument is based upon the fact that, first, cash transactions have the highest risk of legalization of income, and therefore require an in-depth analysis, and secondly, information from banks and other primary entities, engaged in the financial monitoring related to the money laundering issues is restricted for external users, so it is not possible to use all risk criteria to analyze transactions. The carried out analysis with use of the proposed instrumentarium allowed to divide the totality of 77 banks operating in Ukraine into four groups in accordance with the values of asymmetry, excess and variation of data distribution indicators. The main features of certain groups of banks in accordance with the distribution of cash turnover are identified and analyzed.

259-264

Authors: Yasinovska I. F., Bei I. M.

The article is aimed at exploring the sources of financing for domestic enterprises, including by the types of economic activity; evaluating the dynamics of volume and structure of financial resources of Ukrainian enterprises, their financial results; finding directions to optimize the formation and efficiency of use of the financial resources of enterprises. The dynamics of the financial resources’ structure of large and medium-sized enterprises in Ukraine as of March 31 for the time period of 2017-2019 are analyzed, the sources of their formation are estimated by the types of economic activity, dynamics of the financial results are analyzed. The main problems of the formation of financial resources in domestic enterprises are defined and ways of optimizing the formation and use of financial resources in the enterprises are proposed.

272-280

Authors: Boiko S. V., Shirinyan L. V.

The article is aimed at studying the prospects of capitalization of insurers in Ukraine, subject to the reform of income taxation and the introduction of a tax on withdrawn capital. The publication examines the capital structure of insurers and the macro-economic indicators of the Ukrainian insurance market, identifies the macro-economic tendencies regarding the capital and equity of insurers. The most dynamic in the content of the capital of insurers are liabilities. An empirical analysis of the financial result before taxation and the net profit of insurance companies, dividend payments and propensity for dividend payments in the medium term is carried out. The absolute difference in the capital of insurers, which can potentially be obtained as a result of income tax reform, has been defined. The procedure for calculating the absolute difference in the capital of Ukrainian insurers after the reform of income taxation is proposed in the form of difference in the financial result before taxation and dividends, other payments to be taxed. An iIncreased capitalization of the insurance market is possible through the capitalization of the net profit of insurers. In other words, insurance companies will be able to increase their net capital by the size of the pre-tax financial result, reduced by dividends and other withdrawal payments. With this approach, the size of dividend payments becomes an important factor of influence. Prospect for further research in this direction is definition of the tax component as one of the priorities in the context of capitalization of Ukrainian insurance companies and improving the competitiveness of the insurance market in Ukraine, taking into account the European integration.

287-292

Authors: Levkovich O. V., Finko A. V.

The article is aimed at exploring the functioning and the development directions of the Ukrainian bond market. It is defined that in Ukraine the bond market is divided into three segments: the State bond market, the local bond market, and the corporate bond market. Data on the issue of and trade with bonds in the domestic stock market over the past five years were collected and processed. The main development tendencies and the current status of bond trading are analyzed. It is displayed that Ukrainian bond market today takes the main share in the structure of securities trading in the Ukrainian stock market, but is still underdeveloped. It is defined that the volume of bond trading has decreased by more than four times in the last five years: the most important value of this indicator shows the State bond market, while the local bond market has not been issued with new securities for three years. The focus is on the main problems in development of the bond market in Ukraine, which hinder its effective functioning, which are the following: low credit rating of the country; imperfect mechanism for the formation of bond prices; unstable macro-economic and political situation in the country; ineffectual tax policy on the part of the State. It is defined that the main direction of development of this segment should be increasing the competitiveness of Ukrainian bonds in the international stock market, so that Ukraine may solve the issue of too expensive attraction of additional resources. The main directions of increasing the attractiveness of Ukrainian bonds in international markets are proposed, methods of overcoming the existing domestic problems of the national bond market are allocated.

299-307

Authors: Kovalevska A. V., Zelenskiy S. V.

The article is aimed at substantiating the model for evaluation of stakeholders for their active involvement in the process of formation of a strategy for sustainable development of Ukrainian cities. By systematizing and generalizing numerous scientific studies, the authors prove the appropriateness of improving the strategic management system for sustainable urban development on the basis of implementing the provisions of the stakeholder conception; importance and relevance of the task at hand is determined; a list of benefits that can be gained from actively engaging stakeholders in the strategic planning process is suggested. The most common methods for evaluation of stakeholders are systematized and compared, their essence is defined, the specifics of use are demonstrated, the main expected results of the evaluation are presented. It is proposed to use the Mitchell model to evaluate the stakeholders in the urban development, which, along with the awareness of specifics of the territorial community will allow developing the most effective strategies of communication and interaction, to choose efficient management instruments of influence and, as a result, organize a productive process of strategic planning. Prospects for further research by the authors are inclusion of the assessment phase of evaluation of stakeholders in the process of forming a sustainable development strategy for the city; development of both communication and collaboration strategies for each dedicated stakeholder group; testing these provisions in the process of forming strategies for the development of Ukrainian cities.

313-320

Authors: Dovbnia S. B., Chabanets T. M.

The article is aimed at developing a mechanism for estimating the competitive position of enterprise, which would provide comprehensive objective diagnosis of the industry market factors and the enterprise’s potential. An improved modification of the SPACE analysis method has been developed. When diagnosing the status of enterprise, its financial strength and competitive advantages are considered. In the process of estimating the near environment, the stability and attractiveness of the industry are analyzed. Financial strength, as a complex concept, provides for an estimation of the solvency of enterprise, its financial independence and performance. The competitiveness of enterprise is determined by its competitive market advantages and the efficiency of use of resources. Sets of local indicators for each estimation direction of the enterprise and the external environment are substantiated, including the original, non-widely used ones («performance ratio», «wage competitiveness ratio»). The calculation of integral estimates of the enterprise’s financial strength, its competitiveness, attractiveness and stability of the industry is proposed. A matrix has been developed to interpret the results of analysis and to select a vector of strategic development. This mechanism will ensure an informed decision-making as to the choice of strategy due to: ability to quantify each factor; integrated assessment of the financial strength and competitiveness of enterprise, attractiveness and stability of industry; the recommendations provided in the SPACE analysis matrix. Prospects for further research are to develop methodical approaches to quantifying the individual environmental factors and their impact on the enterprise’s strategy.

328-333

Authors: Koleshchuk O. Y.

The article is aimed at forming the process of consolidation of information resources as a systemic base for the strategic management of the enterprises’ innovativeness. It is defined that in today’s turbulent economic environment, the consolidation of information resources in ensuring the efficient operation of enterprises and improving their level of development is relevant. It is determined that the consolidation of information resources is an important factor leading to the formation of the value-sense paradigm of the enterprises’ activities. The elemental composition of the essence of the concept of «information» is formed. It is disclosed that information resources are transferred in an oral, written or other way; types of information transmission are allocated. It is identified that each enterprise uses a large amount of information resources in its activities; a classification of them is provided. It is defined that the consolidation of information resources is characterized by the fact that at some stage of task solution an aggregate of new information is present that can be compared with a system of own views, concepts, attitudes and assessments. In the future, this updated information will be understood, structured, formalized and will become the systemic base of the strategic management of the enterprises’ innovativeness.

339-344

Authors: Vlasenko T. A.

The article defines that a successful implementation of strategic changes largely depends on the timely and adequate managerial decision-making and the correct implementation of the decisions made, and therefore - on the competence of managers and participants in the strategic changes. In this regard, a methodical approach to evaluate the level of staff competence for implementation of strategic changes is suggested and the importance of using the qualimetric method for this assessment is substantiated. The proposed approach be implemented in a step-by-step sequence: selection and substantiation of the method for evaluating staff competence; substantiation of parameters of the model for evaluating the level of staff competence to carry out strategic changes at enterprise; determining the level of staff competence to make strategic changes; interpretation of the data obtained regarding the ability of staff to implement strategic changes. The use of this approach will assist not only identifying the ability of staff to implement strategic changes by determining their level of competence, but also developing advisory measures in order to ensure the staff readiness for strategic changes and leveling possible resistance during the organizational changes.

354-361

Authors: Zhehus O. V., Savytska N. L.

Introducing the marketing conception into the management of higher education institutions necessitates development of a modern instrumentarium to research the actors in the higher education products market. To this end, a scientific-methodical approach is developed to identify the degree of gap in perceptions of the competences of higher education professionals by key stakeholders, based on defining: 1) integral estimates of the importance and satisfaction as of competences (for graduates and employers), the importance and opportunities to acquire competencies (for students and teachers); 2) measures related to gap in perceptions of competence; 3) identification of the degree of competency gap and definition of the type of managerial decision. The results of the carried out research determine significant differences in the perceptions by key stakeholders of the rigid (professional) competences: theoretical knowledge of specialty and practical professional skills; moderate degree of gap in perceptions in the possession of a related profession and the ability to solve professional problems. It is concluded about the inconsistency of training specialists in the higher education institutions to the modern requirements of the labor market and the ongoing transformations. On the basis of the results obtained, practical recommendations on the formation of a unique offer of educational products according to the components of «product», «process», «staff» are elaborated.