bluuebunny/crossref_metadata_2025 huggingface dataset:
ТЕОРЕТИЧНІ ОСНОВИ ПРОФЕСІЙНОГО САМОВИХОВАННЯ МАЙБУТНЬОГО ВЧИТЕЛЯ
Authors:   Бердянський державний педагогічний університет, SHYMANOVYCH I.
Published: July 2023

The article highlights some theoretical issues which are crucial for future teachers’ consistent professional growth. The paper touches upon the essence of the concept of «professional self-development» within the framework of teacher training. The research fundamental idea is traced back to its scientific origins an analysis is conducted to define the concept. It is stated that despite many published works that focus on or address a particular topic, there is ambiguity of approaches to the interpretation of «professional self-development» in scientific and pedagogical literature. The paper presents Ukrainian and foreign scientists’ understanding of the essence of professional self-development. The research reveals that in contemporary pedagogical science, professional self-development is viewed as a multifaceted concept. According to scientists, professional self-development of a teacher is regarded as a distinct activity that follows a particular structure, which includes elements such as motives, goals, content, subjects, objects, means, implementation conditions, approaches and outcomes. The concept and fundamental nature of «professional self-development» are analyzed and explored. According to the concepts of scholars, the author's definition of this phenomenon is explained, specifically within the context of the terminological field of training future teachers for their profession. Within the current scientific space, there exist multiple definitions of the term «professional self-development», each with their own distinct differences and variations determined by the researcher’s perspective, subject area of study, scientific beliefs and interests. Upon analyzing the conceptual and terminological framework of the research, it can be concluded that although there are numerous interpretations of the central concept in pedagogical discourse, professional self-development of future teachers is primarily regarded as a deliberate and innovative approach that involves improving one’s own personality and developing oneself into a professional. The author states that professional self-development is an essential aspect of pedagogical activity and a crucial element of contemporary teacher training. Key words: future teacher, professional self-development, teachers’ training, professional growth, self-education.
Institutional Provision of Tariff and Non-Tariff Regulation of Cross-Border Trade
Authors: Shlapak Alla , Yatsenko Olha , Tananaiko Tetiana , Lyskova Lesia
Published: July 2023

Introduction. The study is devoted to a comprehensive study of the global trade system in conditions of global economic instability, in particular, to the identification and analysis of the determinants of deepening its asymmetries in the regional perspective. The study contains a description of the peculiarities of the modern global trade system and regulatory regime, including tariff and non-tariff methods of regulating cross-border trade and key trends in its development.
Aim and tasks. The purpose of the study is to diagnose the institutional provision of tariff and non-tariff regulation of cross-border trade in order to determine the presence or absence of asymmetries in the global trade system in the regional context.
Results. The study identifies and systematizes fundamental features of the modern global trade system whose development has been directly or indirectly influenced by regional asymmetries. Particular attention is paid to the characteristics of the major international economic organizations as the main regulators of the cross-border trade process, and to the study of the impact of the use of tariff and non-tariff import and export regulatory tools on cross-border trade asymmetries. The world trading system is divided by country and individual customs territory, depending on whether it belongs to a certain geographical area or to a group of countries with a certain level of economic development.
Conclusions. Although the expansion of global trade has visually slowed down, the integration of world trade is not over, on the contrary, there are clear signs of the beginning of a completely new phase of globalization. The presence of asymmetry in the world trading system in a geographical context, regardless of the size of the region, has been theoretically proven. According to the criterion of the asymmetry of the trading system depending on the level of economic development of the countries, in general, there is a tendency to increase the level of liberalization of trade regimes by the increase in the level of development. At the same time, it has been proven that belonging to the group of least developed countries does not necessarily mean closed access to national markets, and categorization as a developed country does not indicate the application of the least number of non-tariff measures to regulate trade volumes. At the same time, Ukraine remains a country that has undertaken the most liberal obligations regarding providing access to markets for both goods and services. As one of the world's leading exporters of agricultural products in 2020, Ukraine has set the customs tariff level at 11%, the lowest among group members.
Relation Between Financial Literacy and Carbon Footprint: Review on Implications for Sustainable Development
Authors: Todorov Lyubomir , Aleksandrova Aleksandrina , Ismailov Taner
Published: July 2023

Introduction. Financial literacy has been recognized worldwide as a significant element of stability and economic and financial growth. With the evolution of financial instruments, the growing importance of financial inclusion, its correlation with financial literacy, and the effects they have on sustainability, the concept of financial literacy is dramatically changing and getting more inclusive, spreading the focus on sustainability, sustainable consumption, and environmental preservation.
Aim and tasks. The aim of the study is to examine the connection between the population's financial literacy level and greenhouse gas emissions. The working hypothesis claims that there is a relationship between financial literacy and the carbon footprint.
Results. The correlation and regression analyses were the main tools in the study, while the dataset for 2014 covered 137 countries, with the main dependent variables being carbon emissions per capita, per unit of gross domestic product, and per unit of energy. The partial correlation coefficients between financial literacy rating and carbon footprint variables were insignificant when controlled for economic development, represented by per capita gross domestic product. Estimated econometric models with financial literacy in quadratic form were adequate and showed a significant connection between financial literacy and carbon emissions per capita and per gross domestic product at the 5% level. The relationship with carbon emissions per unit of energy was significant at the 10% level. In all three models, the relationships followed an inverse U-shape, with low financial literacy increasing the carbon footprint and higher financial literacy decreasing it. The turning numbers for financial literacy were 35.8% for carbon emissions per capita, 41.4% for emissions per unit of gross domestic product, and 32.4% for emissions per unit of energy.
Conclusions. Financial literacy was indeed associated with carbon emissions in a complex, non-linear way. The effect of energy consumption on carbon emissions was stronger than financial literacy and appeared to be the driving force for the increase in carbon emissions. With low financial literacy observed in underdeveloped countries, the situation was not favorable for the environment. As financial literacy increased, welfare, income, and consumption increased too, leading to an increase in greenhouse gas emissions, i.e., a bigger CO2 footprint. Once a certain stage of economic development was reached, the relationship was reversed, i.e., in developed countries, financial literacy worked towards reducing the carbon footprint and protecting the environment.
Retrospective Statistical Study of Dependencies in The Formation of Tourist Flows
Authors: Cherchyk Larysa , Begun Svitlana , Khumarova Nina , Kuvika Ganna
Published: July 2023

Introduction. The activity of tourism establishments takes place in conditions of intense competition and changing dynamics of the tourism market influenced by various factors. The phenomenon of tourism lies in its complexity and high sensitivity to changes in the external environment. In order to determine the directions for the development of the tourism industry, it is necessary to understand the factors that influence the formation of tourist flows and forecast their changes in the defined perspective, which justifies the relevance of applying statistical research methods.
Aim and tasks. The aim of the study: based on statistical information and methods of statistical analysis, to identify the dynamics of changes in tourist flows during specific periods of the new reality and to refute or confirm the hypotheses put forward in the research. Main tasks are: to identify periods of new reality characterized by special conditions of tourist flows formation; to formulate research hypotheses; to identify features of major trends in tourist flows for confirmation or refutation of the proposed hypotheses.
Results. According to the developed methodology, periods were identified according to one leading feature that could form the trend of tourist activity in Ukraine for: the period of development of stabilization and economic growth (2000-2008); the period of coverage of the economic crisis and its relative overcoming (2009-2013); Anti-Terrorist Operation (ATO) period and subsequent stabilization of economic growth (2014-2019); period of the COVID-19 pandemic, economic downturn, isolation (2020-2021); martial law (since February 24, 2022). The periods identified in the study formed excellent conditions for tourism, which affected the volume of tourist flows, as a result of which the forecast indicators will not correspond to the actual ones. Domestic tourism flows are more influenced by GDP per person, while outbound tourism flows are more influenced by available income per person.
Conclusions. The applied methods of mathematical forecasting allowed for the verification of the hypotheses regarding the causes that influenced or did not influence tourist flows as the resulting indicator. The general outcome of the research is the confirmation of the hypotheses proposed, which position the tourism industry as particularly susceptible to the influences of various factors that can significantly impact tourism activity both in the context of tourist flow formation and the priorities of tourism enterprises' operations.
Criterion for Ensuring the Effectiveness of the Management of the Global Maritime Industry
Authors: Sienko Olena , Babachenko Maryna , Chesnokova Maryna , Karianskyi Sergey
Published: July 2023

Introduction. The significant dynamic nature of modern geopolitical and military threats sets new requirements for evaluating the criteria effectiveness of solving maritime industry management problems, requires new methodological approaches and mathematical models for evaluating criteria, and determines a new architecture of information systems in the structure of which these approaches and models are implemented. This makes the issue of the analysis of the application of criteria and the development, research, and implementation of such models and systems extremely relevant.
Aim and tasks. The purpose of the study is to create a methodological approach to evaluating the criteria that characterize the effectiveness of the management of the maritime industry, with the dynamic change of criteria due to the influence of threats and challenges.
Results. A methodological approach has been developed to evaluate the criteria that characterize the effectiveness of the management of the maritime industry based on the model for assessing the convergence of the absolute values of the first derivatives of the criteria over time, which, at short time intervals, can be considered as criteria change trends. It has been established that instead of reducing transportation costs, management switches to the principle of ensuring optimal costs, which leads to an increase in the cost of freight and shock reactions in the sea transportation market. It was established that it is advisable to use the LSCI criterion as an indicator of the negative effect of “local optimization”. After determining the development trends of the criteria, their evaluation as well as the assessment of their convergence were carried out, which became the basis for proposing directions for improving the efficiency of maritime industry management.
Conclusions. The developed methodological approach and the mathematical model of its implementation make it possible to conduct both quantitative and qualitative analyses of the effectiveness of management of the maritime industry. To increase the efficiency of management, it is proposed: to integrate port community systems; to increase the stability of the port infrastructure so that it can function in crisis conditions; to achieve coordination of management actions at all levels; to avoid “local optimization” and introduce integral optimization; to respond not only to direct threats but also to detect the cascading effects of threats.
Development Management of Interbank Competition in the Corporate Lending Market
Authors: Kretov Dmitry , Mindova Olena , Aitaliev Bakytbek , Koldovskyi Artem
Published: July 2023

Introduction. The effective functioning of the banking sector is a prerequisite for the economy development   and one of the main sources of providing monetary resources for economic activity of entrepreneurship, regardless of ownership forms and spheres of management. The urgent problem of business development today is the lack of own financial resources for economic activity and a significant reduction in corporate bank lending. Therefore, it is relevant to study and solve the problems of renewing lending by banks to the corporate sector at the present time, taking into account the prevention of the increase in the level of credit risk.
Aim and tasks. The purpose of the study is to manage the development of interbank competition in the corporate lending market based on a study of the bank lending state to corporate clients and further prospects in the absence of an accurate forecast of the economic situation in Ukraine.
Results. The analysis of the dynamics of the bank lending total volume to business in 2022-2023 and the structure of the provided corporate loans showed that since mid-2022 there has been a tendency to decrease the volume of loans to entrepreneurship, which is caused by a decrease in demand from borrowers and an increase in the cost of credit from banks. In addition, more than 70% of the loans provided are concentrated in five larger banks in Ukraine, including 4 state-owned ones, preferential lending to businesses with state support prevails. To further assess the development of corporate bank lending, a prediction of lending volumes for 2023 was carried out, which made it possible to establish that lending volumes by banks of non-financial corporations have a forecast downward trend.
Conclusions.  Recommendations for improving corporate bank lending processes are proposed, namely: development of credit policy directions that will prevent a new crisis of confidence in banks and the banking system; development of measures that will prevent the curtailment of preferential targeted lending programs; developing measures to reduce the level of non-performing loans and solving the problem of lowering the cost of financing sources.
Analysis of the Economic and Environmental Policy of Ukrainian Defence Industry Enterprises
Authors: Zakharchenko Oleg , Shmatko Nataliia , Chmutova Iryna , Votiakova Lesia
Published: July 2023

Introduction. The regulation of economic and environmental impacts of the entire military-industrial complex is a cross-sectoral and international problem. At the same time, research in this area is rather fragmented, which reduces the effectiveness of systematic reviews of the security and defence sector in the context of the green economy. The relevance of the issue of greening the defence industry is significantly enhanced by the need to regulate and operate domestic defence industries in the context of the country's military operations.
Aim and tasks. The aim of the study is to substantiate the economic mechanism for regulating the greening of enterprises of the defence industry of Ukraine.
Results. The economic and environmental security requirements for defence industry enterprises are studied, as the activity of polluting sources of enterprises, including defence enterprises in Ukraine, has generally decreased, in 2021, emissions of pollutants into the atmosphere from stationary sources decreased by 9.0% compared to 2020, to almost 2.2 million tonnes, ammunition was disposed of (235.29 thousand tonnes of ammunition were disposed of from 2014 to 2020) and liquid rocket fuel (16.7 thousand tonnes of melange). In 2021, enterprises, organisations and institutions spent UAH 41.3 billion on environmental protection, compared to UAH 43.7 billion in 2020. Of the total environmental costs in 2021, 68% were current expenses and 32% were capital investments. The strategic directions of greening the defence industry enterprises have been identified, including the introduction of resource-saving technologies, environmental monitoring of environmental impact and reduction of the negative impact of the defence industry units.
Conclusion. The realisation of the greening potential will help protect the country's natural resource potential under the influence of the defence industry. A system of measures should be developed to ensure the protection and restoration of natural systems at a certain cost. Given the importance of the defence industry for the country in the context of current external threats and armed conflicts in certain parts of the territory, it is necessary to develop a strategic vision of environmental security with the involvement of all relevant organisations and taking into account the degree of responsibility and motivation for eco-oriented management.
World Experience of State Regulation and Management of the Development of Tourism and Hotel Entrepreneurship on the Example of European Countries and the USA
Authors:   Mykolayiv National Agrarian University, Albeshchenko Oleksii
Published: July 2023

Abstract. Introduction. The article examines the global experience of state regulation of the tourism and hotel enterprise. It has been established that the state regulation and management of the development of tourist clusters is one of the priority strategies for the further development of the country's tourism industry, and in the future, enterprises from different spheres of the economy that cooperate in the same economic sphere, both private and state-owned, will be united. Purpose. The analysis of the best European practices of reforming the state policy in the field of tourism has been carried out. The minds and elements that form the sovereign regulation of tourism are explored. Results. It was determined that one of the important directions of increasing the efficiency of development in the tourism sphere is the creation and development of clusters. The sphere of tourism in Ukraine is included in the list of priority sectors of the economy, in which the solution of this task is expected. Foreign experience attests to the economic efficiency of the functioning of the tourism cluster for the entire country through the balanced interaction of all elements of the association, which affects the effective economic activity of enterprises and the development of national tourism. Conclusions. The directions for the formation of a comprehensive state policy for the development of tourism have been analyzed. The conditions and factors influencing the formation of the state policy of tourism regulation are studied. The main obstacles to the creation of tourist clusters in Ukraine have been identified. The mechanism of state policy requires a constant search and adaptation of effective interactions of elements of the development of the tourism sphere. For this, it is necessary to borrow foreign experience in the development of the tourism sector and create conditions for adaptation in Ukraine. The concept of "cluster" has not yet been defined in the legislative framework, there are no incentives and proposals for cluster formations. The development of the tourist cluster should be considered by state bodies as a strategic direction of territorial development and one of the key factors in increasing investment attractiveness.
Threats to the Financial Security of Ukraine
Authors:   Dniprovsky State Technical University, Svitlana Hanziuk
Published: July 2023

Abstract. Introduction. In the conditions of deepening financial instability of our country, increasing threats to all levels of security, it is important to constantly analyze the values of the main indicators of the country's financial security and identify potential threats, since in order to implement effective mechanisms for stabilizing the financial system, it is necessary to dynamically assess the most dangerous risks for its functioning. Purpose. The purpose of the study is to identify and analyze potential threats to the country's financial security before and after a full-scale invasion of the Russian Federation through a system of indicators. Results. Based on the analysis of changes in the country's financial security indicators for the period before and after the beginning of the full-scale invasion of the Russian Federation, dangerous zones and threats to the state's financial security were identified: the debt burden on the state budget, the level of inflation, lending by banks to the real sector of the economy, the dependence of the banking system on foreign capital and the level doubtful debt in the credit portfolio of banks. The situation is related to a full-scale war and forces Ukraine to build up debt to finance hostilities and solve important social issues in conditions of uncertainty, which in the long run, without the possibility of debt cancellation, will have a disincentive effect on the economy. The safe zone includes the share of domestic state loan bonds and international reserves. The forecast of indicators of financial security that were in the critical zone for 2023, using analytical alignment of the dynamic series, demonstrated the deterioration of the values of these indicators. Conclusions. 2022 is expected to be a critical year for most indicators of the country's financial security. It is proposed to implement transformational measures that would take into account the changes taking place in the market of financial services due to the emergence of problems, first of all, resource provision. It is recommended to regulate the regulatory and legal field regarding financial security during martial law and detailing the threats that arose during the war.
Features Of the Processes Of Mergers And Acquisitions In The Agro-Industrial Sector Of Ukraine's Economy
Authors:   Mykolayiv National Agrarian University, Honcharenko Iryna
Published: July 2023

Abstract. Introduction. The article considers mergers and acquisition deals that took place in the agro-industrial sector of Ukraine's economy in 2018-2020 and assesses key trends in the rural development of the country. Territorially the biggest part of Ukraine is rural areas, thus it’s obvious that their development shall and may have significant influence on the development of the country, as a whole. Purpose. The study was preceded by the following tasks: to describe and assess the main features of the processes of mergers and acquisitions in the agro-industrial sector of Ukraine's economy in 2018-2020. The theoretical basis of the study was papers related to the processes of mergers and acquisitions, the development of rural areas. Methods of synthesis and analysis were used. Data and information from the InVenture Investment datatbase, as well as the State Statistics Service of Ukraine (SSSU), were analysed, including data on changes in employment and unemployment for 2018 – 2020 in Ukraine. The obtained data were processed descriptively by statistical analysis methods. Results. According to the results of the analyses was find out that in the agro-industrial sector of Ukraine, the strategy of inorganic growth of enterprises (through the merger and acquisition deals) remains relevant and popular, the participants of the deals are mostly Ukrainian companies, and the subject in most cases is 100% stake in the company, however, foreign investors are also interested in the Ukrainian companies and find out Ukrainian economy, especially its agro sector, extremely interesting for investments. Conclusions. Speaking about the potential influence of the M&A activity on the rural areas development lets look at the employment rate on such territories, as this is one of the most direct indicator of the people’s prosperity. Observations show that the employment of the population of rural areas of Ukraine is declining much faster than the urban population. The connection between the activity of the local enterprises in the M&A deals and the prosperity of the local community has no linear dependences. The list of references includes appropriate literature, which forms a good base for the performed research.
Rеsеаrch on Еcologіcal and Еconomic Dеvеlopmеnt and it is Impact on Еcology
Authors:   Mykolayiv National Agrarian University, Hruban Vasyl
Published: July 2023

Abstract. Introduction. The beginning of the 21st century for the world population became an obvious approach of a global catastrophe associated with large pollution of the natural environment, the destruction of the ozone layer of the biosphere, the increase in climate change, and the dangerous degeneration of flora and fauna. Scientists predict that if society does not change the directions of socio-economic development, technological methods of mastering nature, then the beginning of irreversible destruction of the biosphere is predicted in the near future. Purpose. Ensuring the economic growth of the country at present is accompanied by the growth of environmental pollution and degradation, depletion of natural resources, disruption of the balance of the biosphere, climate change, which leads to the deterioration of human health and limits the possibilities of further development This means that the level of well-being of the population is tight related to ensuring the quality of the environment. The development of industrial society gave rise to new needs, and the need to satisfy them required a new increase in production, the consequences of such development became a heavy yoke for the environment. Along with the growth of labor productivity and the improvement of the efficiency of the economic activity of enterprises, today the question is their willingness to apply advanced technologies capable of reducing the negative impact on the environment and more rationally using natural resources, increasing the level of waste processing and mastering zero-waste technologies. Conclusions. This testifies to the relevance of the conducted research, the purpose of which was analytical work on the interrelationship of environmental and economic factors of the development of society with the position of the unity of these processes. The solution to the given task was performed on the basis of the interrelationship of resource and environmental factors. It is stated that one of the components of the modern development of the economy is the substantiation of the economic and scientific relationship to environmental safety. A possible association is economic activity with indicators of the economic state and the nature of the impact on it.
Estimating the Business Cycle of Ukraine Under the Conditions of Large External Compound Shocks
Authors:   Taras Shevchenko National University of Kyiv, Zholos T.
Published: July 2023

Abstract. Introduction. Conventional business cycle estimation methods typically rely on the assumption that the shocks to an economy are normally distributed. However, global social and political instability can result in external shocks that are more severe than purely economic shocks, thus hampering the ability of these estimation methods to separate cyclical behavior from long-run dynamics. Since effective economic policy is dependent upon the ability to make accurate forecasts, an understanding of the properties of business cycle estimation methods in the presence of large shocks in the data is of first order importance. Purpose. The purpose of this article was to compare the ability of various business cycle estimation methods — and in particular detrending filters — to account for large external compound shocks (i.e. those containing both economic and noneconomic components) when extracting the cyclical component of the real GDP series of Ukraine. In view of Ukraine’s policy of European integration, a secondary goal was to investigate the performance of various detrending filters in deriving a measure of business cycle co-movement of Ukraine vis-à-vis the EU that is robust to external compound shocks. Results. Using an unobserved components model with external geopolitical shocks as a benchmark, it was found that the application of the boosted Hodrick-Prescott filter, the Christiano-Fitzgerald filter, and the Hamilton regression filter to the real GDP data of Ukraine produced cyclical components that exhibited spurious dynamics, particularly from 2020 and onward. Conclusions. It was shown that no single business cycle estimation method performed the best in application to the real GDP series of Ukraine. While the unobserved components model relied on extensive researcher-specified assumptions and an ad hoc approach to identifying external compound shocks, the use of data filtering resulted in series that did not accurately reflect cyclical and trend dynamics in Ukraine toward the end of the sample. Thus, there is a practical need to develop new business cycle estimation models that would be able to account for the distorting influence of large external compound shocks.
Personal Tax Management: Theoretical Aspects and Practical Implementation
Authors:   Petro Mohyla Black Sea National University, Lushko S. M.
Published: July 2023

Abstract. Introduction. In modern economic literature, tax management is considered at three levels: macro-, microand sub-micro levels. Each of the levels has its subjects, object of management, structure, purpose, methods, tasks and tools. State and corporate tax management are actively researched by domestic scientists, while personal tax management is practically unresearched and needs a more thorough study of theoretical and practical aspects. Purpose. The purpose of this study is to determine the theoretical aspects of personal tax management and to study its practical implementation in our country. Results. The authors gave and analyzed the definitions of domestic scientists and proposed a number of clarifications. In particular, consider personal tax management not from the perspective of an individual citizen, but from the perspective of a household. Also, it is proposed to consider as an object not the management of personal income, but the management of the tax burden, which is calculated as the ratio of the amount of taxes paid to the amount of income. Based on the analysis of the definitions of domestic scientists, an own definition was proposed. In addition, a description of the main elements of the personal tax management system was given. Subjects, object, purpose, methods and tools, stages and blocks of personal tax management are defined. The main reasons for insufficient theoretical justification and practical application of personal tax management in Ukraine are described. Conclusions. As a result of the study, the authors came to the conclusion that personal tax management is an integral part of the financial literacy of the population and consists in the application of tax planning and tax optimization methods. The goal of personal tax management is to reduce the tax burden on the household and maximize their net income. Regarding the prospects for the development of personal tax management in Ukraine, taking into account the extremely unfavorable demographic situation, which has worsened even more due to the war and the crisis of the solidarity pension insurance system, it is extremely necessary at the state level to introduce various mechanisms for increasing the level of financial literacy of the population. The state should encourage households (including through tax instruments) to plan their future incomes, retirement by participating in non-state pension and health insurance, as well as effectively manage savings by using financial market instruments.
Modeling of the Optimal Investment Portfolio Focused on Risk Minimization
Authors:   National Technical University of Ukraine ", Mazhara G. A. ,   Igor Sikorsky Kyiv Polytechnic Institute
Published: July 2023

Abstract. Introduction. Portfolio optimization modelling is a study aimed at determining the best way to allocate an investor's funds between securities of different companies. The study uses a number of methods and approaches, such as: multicriteria optimization methods - optimization of criteria for minimum and maximum, modeling of the optimal stock portfolio with minimal risk, to determine the best way to allocate funds that will help investors achieve maximum return while minimizing risk. Purpose. There are a lot of publicly traded companies in the modern American stock market. Having chosen the companies that may grow in the future, the problem of allocating your funds among them remains relevant. Building an optimal portfolio of securities using various economic and mathematical methods solves the problem of allocating financial resources, focusing on the desired future profit and the level of risk exposure. Results. The model for this study was built using one of the methods of multi-criteria optimization - criteria convolution, taking into account portfolio diversification and the specified constraints. The optimization is based on the "Modern Portfolio Theory" of the prominent scientist Harry Markowitz. Conclusions. As a result, we built an optimal and diversified portfolio of shares, in which each company on the list represents at least 1%. All constraints have been met and the main conditions have been fulfilled - the portfolio minimizes risk and maximizes profit. With a minimum risk of 5.39%, we expect a return of 1.75%. Such results can be obtained if we use a convolution of the criteria where the preference is given to minimizing risk - 0.7. The largest contributors to the portfolio were the following companies: T-Mobile Us Inc., McKesson Corporation, The Kroger Co., Microsoft Corporation, and Apple Inc. These companies account for a significant portion of the portfolio - 65%. Given the focus on portfolio diversification and the ratio of risk to potential return, we can say that the portfolio is efficient and can be used in practice.
Economic Growth and the Insurance Sector in South Africa: Toda-Yamamoto
Authors:   University of the Western Cape, Makeleni M
Published: July 2023

Abstract. Introduction. The connection between the real economy and the financial sector continues to be a subject of debate amongst scholars. There is a plethora of studies dedicated to unravelling the relationship between economic activity and financial progress. However, a large share of those studies has concentrated on banking and the capital market industries; the studies that have undertaken to decipher the connection between the insurance industry and prosperity in the economy are insufficient. Purpose. This study attempts to explore the link between South Africa's insurance industry and economic growth. The study made use of secondary time-series quarterly data and employed the Toda-Yamamoto (non-Granger causality) test. Results. Firstly, the findings show a uni-directional causal relationship running from long-term insurance to GDP percapita. Implying that the South African long-term insurance sector is supply-leading. Secondly, the results revealed that GDP percapita and the short-term insurance sector are interdependent (bi-directional relationship). Lastly, the findings showed a unidirectional causal relationship between GDP per-capita and total insurance assets. Conclusions. The results imply that the South African total insurance sector is supply-leading.
The Current State of Bank Lending in Ukraine
Authors:   Mykolayiv National Agrarian University, Mikuliak Kateryna
Published: July 2023

Abstract. Introduction. With the development of digital technologies, obtaining and issuing a loan is becoming easier and more affordable. The borrower can independently go to the website of any bank, view available credit programs, use an online calculator, fill out a questionnaire and receive money on a payment card. During crises, bank lending is an important element in stabilizing the economy. For businesses, there is an opportunity to get acquainted with various types of credit programs from different banks the Diya.business portal contains information about a specific credit program and it is possible to filter the search. A lot of attention is paid to lending to farm businesses, in particular lending to agricultural machinery, equipment, real estate, and working capital. Purpose. Study of the current state of bank lending in Ukraine and the channels of its implementation in today's conditions. Results. Analyzed the current state of bank lending. It is noted that bank lending is one of the important elements of the entire economy of the state, and SMEs are an economic force that provides work for the vast majority of workers. An analysis of the impact of crisis phenomena on modern bank lending was carried out. Considered the dynamics of the volume of bank lending and the structure of loans to individuals according to their intended purpose. Noted the importance of business support, in particular, considered the types of credit programs on the Diya.Business portal. Noted the importance of lending to the agricultural sector and formed the level of profitability (unprofitability) of all activities of agricultural, forestry, and fishing enterprises. Conclusions. Bank lending is an extremely important component of the economy and financial system. Banks provide various types of loans, from personal to commercial, and provide financial support for developing enterprises, firms, and individual clients. Modern banks offer a wide range of products and services, including innovative digital solutions that facilitate access to financial services for customers. However, with the growth of technology and the Internet, new challenges and threats are emerging, such as cybercrime and cyberattacks.
Policies of Sustainable Development of EU Cities and Regions in Conditions of Decentralization: Theoretical and Methodological Aspect
Authors:   State Tax University, Matseliukh Nataliia
Published: July 2023

Abstract. Introduction. EU countries are developing effective strategies for achieving the goals of sustainable development at different levels in connection with the processes of decentralization and within the synergy of different policies. The author is considering the challenges of globalization which humanity can face with in the EU in the context of creating opportunities based on sustainable development. Purpose. The purpose of the article is developing the conceptual foundations, structuring and methodological foundations of ensuring policies for the sustainable development of EU cities and regions in conditions of decentralization. Results. It was determined that the sustainable development policy of the EU and EU member states is characterized by vertical levels of implementation of sustainable development policies which are aimed to achieve global, national and subnational (regional and local) development in relation to the processes of political, administrative and fiscal decentralization. Separate integrated policy provides horizontal components of implementation (economic, social, environmental) within the scope of ensuring sustainable development goals (SDGs). The authors consider decentralization processes as legal, administrative and financial basis for the effective implementation of sustainable development policies in the EU. An important synergistic component of the implementation of sustainable development policies are regional and local Programs. According to this, institutions of various levels have been created in the EU to consolidate the efforts of governments and states. The EU has created a methodology for calculating integrated indicators of the social, economic and environmental dimensions. On the basis of the methodology is constantly carried out monitoring and evaluation of indicators for achieving operational goals. The EU follows a policy of standardization, which is successful thanks to cooperation with international organizations. Conclusions. The viability and modernity of EU sustainable development policies are indisputable because of the issue of achieving the goals of sustainable development is in the field of view of constantly operating conferences and discussion clubs. A feature, which characterizes the sustainable development policies of regions and cities, is reasonable specialization to achieve sustainable development of communities in connection with innovativeness and scientific foundations of development.
Relationship Marketing Within the Concept of Sustainable Development and Global Digitalization of the Tourism Industry
Authors:   Sumy National Agrarian University, Mushtai Valentyna
Published: July 2023

Abstract. Introduction. Relationship marketing in the tourism industry plays an important role, as it directs the activities of tourism enterprises to meet the needs of each client through the formation of close relationships, to achieve a higher level of competitiveness with a focus on sustainable development, taking into account dynamic changes in the market environment and global digitalization of society in particular. Purpose. The main task of this study is to substantiate the need to introduce relationship marketing in the activities of modern tourism business enterprises aimed at sustainable development under the conditions of global digitalization of the tourism industry. Results. The article reveals the essence and defines the role of relationship marketing in the activities of tourist enterprises under the conditions of dynamic changes in the market environment, in particular computerization, technology and virtualization of tourism. The necessity of step-by-step implementation of relationship marketing in the practical activities of tourism business enterprises seeking to establish long-term relationships with consumers, increasing their loyalty, focusing on sustainable development, is substantiated. Emphasis is placed on the need for tourism enterprises to use modern digital technologies, which will contribute to the increase of communication interaction with consumers and will become a powerful tool in the formation of effective relations, will indicate the innovative activity of tourism enterprises. The possibilities of digitalization of the tourism industry have been studied. It was determined that under the conditions of global digitalization, the digital transformation of the tourism business should be considered by tourism enterprises as one of the main conditions for their sustainable development. A step-by-step digitization of the business processes of tourist enterprises within the framework of the concept of sustainable development is proposed, among the basic directions of which should be the harmonization of relations with customers and the expansion of economic growth opportunities of the tourism business entities themselves. Conclusions. Under the current operating conditions of tourism business enterprises, the principles of global orientation towards sustainable development, with an emphasis on the formation of long-term and mutually beneficial relations with consumers of tourism products and the use of various digital technologies, should be the basis of every subject of tourism business oriented towards success, competitiveness, strengthening of market positions, etc. It is digitalization that should be considered as the basis of sustainable development of modern tourism business and one of the factors of increasing its efficiency.
The Role of SMM as a Form of Marketing Communications of Higher Education Institutions in the Conditions of Martial Law in Ukraine
Authors:   The Bohdan Khmelnytsky National University of Cherkassy, Nosan Natalia
Published: July 2023

Abstract. Introduction. The dynamism of the socio-economic environment, the growing scale of globalization and informatization of social life affects all spheres of economic activity, including higher education. Nowadays institutions of higher education are experiencing structural changes in organization of educational process and establishment of communications. In addition, most domestic institutions of higher education were forced to adapt to consequences of spread of the Covid-19 pandemic and introduction of martial law on the territory of Ukraine. The indicated trends determine the need to find and create opportunities to increase demand for educational services, establish communication with all participants in the educational process. Taking into account the rapid development and spread of information and communication technologies, especially among young people, the Internet and social networks are important channels of communication, that is especially relevant in today's conditions. Results. The article examines the importance of SMM as a marketing communications tool of higher education institution in the conditions of martial law in Ukraine. There was considered and proposed the author's interpretation of the category «social media marketing (SMM)». There was studied the situation on the market of higher education products in Ukraine, which has been formed in recent years (in particular under the influence of the pandemic and martial law). The main opportunities provided by the SMM for institutions of higher education in nowadays conditions are separated. The most effective social networks for communication creating with various target groups of domestic institutions of higher education are presented, in particular Facebook, Instagram, Telegram, LinkedIn. The level of social networks use by domestic teachers in the implementation of educational process is considered. Conclusions. Global technological changes and new challenges in higher education create a need to find effective communication tools with the target audience. Social networks are a promising marketing channel for increasing recognition and loyalty to higher education institutions, establishing communication with the target audience.