bluuebunny/crossref_metadata_2025 huggingface dataset:
Misleading Tobacco Packaging: Moving Beyond Bans on "Light" and "Mild"
Authors: Brown Jennifer L. , Smith Katherine Clegg , Welding Kevin , Cohen Joanna E.
Published: August 2020

Objectives: In this paper, we assess compliance of cigarette packaging with policies in 9 countries that ban misleading descriptors, assess the presence of other packaging design elements that are misleading to consumers, and identify policy loopholes. Methods: Cigarette
packages were systematically collected in 9 countries between 2015 and 2017 – Bangladesh, Brazil, China, India, Indonesia, Philippines, Russia, Thailand, and Vietnam. The packs were coded for banned misleading descriptors and other misleading packaging design elements. Descriptive analyses
were conducted. Results: Overall, compliance with explicitly banned misleading descriptors is high across countries, with the exception of packs from Indonesia, where compliance is mod- erate. However, the use of other misleading packaging elements such as alternative descriptors (soft,
smooth, mellow), select color descriptors (blue, gold, silver), and a slim pack shape are still widely used in packaging design across the 9 countries examined. Conclusions: Policies that include loopholes or allow for other misleading packaging design elements could weaken the impact
of recommended misleading packaging and labeling regulations as laid out in the WHO Framework Convention on Tobacco Control. Stronger provisions are needed and countries should consider comprehensive plain packaging.
Comparison of Violet, Red, and Green Light on Early-Stage Common Bean (Phaseolus vulgaris L.) Development
Authors: Ziegler Aaron
Published: August 2020

The energy efficiency of light-emitting diodes (LEDs) makes them attractive for indoor plant lighting. LEDs, however, do not produce broad-spectrum light efficiently. The effects of LED lighting on common bean (Phaseolus vulgaris L.) growth are not well known. This study sought to find the colors of light that most effectively grow common bean plants under indoor conditions. The hypothesis was that red light would promote early common bean growth better, both qualitatively and quantitatively, than violet or green light. After planting the seeds in soil, 20 common bean plants were each grown under red, or green, or violet LED lights (PHILIPS®) (8 watt), or natural sunlight, for 16 days: a total of 80 plants. Bonferroni adjusted t-tests showed that the plants under the violet light grew significantly taller than the plants under red or green light with p-values 0.000 respectively; the plants under red or green light had significantly larger leaves than those under the violet light with p-values 0.000. Qualitative observations (based upon visual inspections of leaf health, maturity, and root development) revealed the plants under red light were the healthiest, most mature, and exhibited the most developed roots—followed by those under green light. The findings of this study suggested early common bean growth performed better under red light than under violet or green light.
Green Synthesis and Characterization of Magnetic Antibiotic Delivery System Using Linden Extract
Authors: AK Güliz
Published: August 2020

Green chemistry enables iron oxide nanoparticle production with easy, cost-effective and environmentally friendly way. Amoxicillin is used in the treatment of various bacterial infections, however antibiotic resistance is a major problem for treatment. Iron oxide nanoparticles are promising alternatives for overcoming these problems and magnetically targeted antibiotic delivery. In this work, it was aimed to synthesis of iron oxide nanoparticles with green chemistry method utilizing the linden plant, and loading of amoxicillin to these magnetic nanoparticles to be targeted antibiotic delivery system. Iron oxide nanoparticles were prepared using aqueous linden extract and FeCl3 solution. These nanostructures were characterized with FTIR, SEM, and zetasizer. Amoxicillin solutions at varying concentrations were incubated with magnetic nanoparticles for drug adsorption and in vitro drug release from nanoparticles at pH 7.4 was studied. It was found that nanoparticles had spherical morphology (70-88 nm), iron oxide structure and were capped with polyphenols. Optimum amoxicillin amount in magnetic nanoparticles was determined as 100.17 μg drug/ mg nanoparticle. Drug release was faster in the first hours and proceeded in controlled manner. It can be suggested that amoxicillin loaded iron oxide nanoparticles could have potential of magnetically targeted therapy of bacterial infectious disease with low cost and ecofriendly production.
Data Analyses of European Soccer
Authors: Wang Yiou
Published: August 2020

Using European soccer data sets, which contain data related to common European soccer leagues, players basic information, and teams’ goals, etc., this paper analyzes the characteristics of European soccer and players, explores data visualization regarding European soccer, and makes predictions of results of matches. Based on Python 3 and some of the packages inside, such as numpy, the author improves the data set to make it clear and user-friendly. Visualizations of data and basic statistics, including Poisson Distribution, are then utilized to determine the results. Finally, this paper analyzes the attacking and defending abilities of different leagues and teams in Europe, ascertains distributions of players’ attributes, and predicts match results by using Poisson distribution and Skellam Distribution. Generally, this paper analyzes data from leagues to matches to players. All these analyses are meaningful for the public to understand the characteristics of European soccer and the world behind the numbers.
ABOUT THE SYSTEMS WITH FULL SPARK
Authors: Rogach D. A.
Published: August 2020

Frames of a finite-dimensional Euclidean and unitary spaces composed of discrete Fourier transform matrices are considered. The relationship of phaseless reconstruction systems with the alternative completeness property is presented. In the complex case, alternative completeness is only a necessary condition for phaseless reconstruction. A system of vectors is constructed such that each of its subsystems with a volume equal to the dimension of space is linearly independent. These systems are called systems with full spark. In particular, such systems are optimal for phase retrieval.
El ajuste de cuentas como un mecanismo para corregir contratos criminales
Authors: Castillo Valencia Maria del Pilar , Riascos Carabalí Steven
Published: August 2020

El propósito central de este trabajo es modelar el ajuste de cuentas como el resultado de la interacción entre un jefe de una organización criminal (principal) y su subordinado (agente), bajo un contexto de información asimétrica. Se muestra que el ajuste de cuentas es un mecanismo elegido por el principal para corregir la conducta oportunista del agente. Este análisis permite entender por qué, en el mundo criminal, las puniciones fatales son un elemento fundamental para mantener el orden y la obediencia.
ORGANIZATIONAL AND METHODICAL PROVISION OF THE FINANCIAL AND ECONOMIC SECURITY MANAGEMENT OF THE ENTERPRISE
Authors: N. O. Kondratenko  , H. O. Doroshenko  , I. A. Ternova  , S. N. Babych  , O. G. Dorosheko
Published: August 2020

The article proposes organizational and methodical provision of financial and economic security management of the enterprise and develops a methodical approach to assessing the level of FES management. The views of various authors on the definitions «economic security» and «financial security» are summarized, and the author’s vision of «financial and economic security» is provided, which should be understand as a complex system with a specific set of characteristics, aimed at ensuring the effective use of all types of resources: material, financial, labor, etc., and the prevention of internal and external threats. The basic principles of financial and economic security management of economic entities are outlined. The description of two blocks of organizational and methodical provision of the enterprise’s FES is provided: organizational block and methodical block. Existing methodical approaches to assessing the level of financial and economic security of business entities are considered. It is concluded that the most appropriate is to use the methodical approach proposed by the authors, which is aimed to improve the differential approach to assessing the level of management of financial and economic security of enterprises. The essence of the method is to improve the detection of the significance degree of partial integral indicators. As a result of the conducted research, the general scheme of organizational and methodical support of financial and economic security management of the enterprise was proposed. That scheme, based on the various factors analysis that determine the state of the enterprise and tendencies of its development, demonstrates the necessary set of measures for raising the level of the enterprise’s FES. It is concluded that the proposed methodical approach to assessing the level of the enterprise’s FES management enables to get rid of subjective factors and to determine the aggregate value of all indicators of functional criteria of financial and economic security of economic entities.
ORGANIZATION OF THE PRIMARY ACCOUNTING OF THE MANUFACTURING INVENTORIES AND THE FEATURES OF THEIR REFLECTION IN THE ACCOUNTING POLICY OF THE ENTERPRISE
Authors: O. V. Kravchenko  , Ya. P. Pasternak
Published: August 2020

The organization of the store manufacturing accounting was studied. The order of accounting policy formation of the enterprises in the organization of the store accounting. The main outstanding issues related to the store accounting are analyzed. Based on the research, it is established that the accounting is directed at management and accounting policy is one of the elements of the accounting system. So it must be considered in conjunction with management because in modern conditions the focus of accounting policy is the impact on the results of management, in other words making management decisions. In the result of the research the elements of accounting policy in the store accounting organization, information that should be specified in the Order on accounting policy of the enterprise are determined. But it should be noted that the above elements are not exhaustive and the company can expand and supplement them, taking into account their information and technological needs.

Based on the analysis of the requisite composition of the primary documents for the accounting of the stocks’ movement and the study of the needs of the enterprise management system, the authors have developed and proposed a new document «Fuel usage statement». It has the following details such as the name of the enterprise, brand and the state number of the car, trailer, cargo information, customer information, fuel consumption, speedometer indicators at the beginning and at the end of the day, the units of measurement, positions, full name and the signatures of responsible persons. The proposed list of details is optimal and contains all the required as well as additional details that are elements of convenience. The usage of this document will ensure that information about the fuel consumption at the enterprise is received.

It is necessary to ensure the efficient organization of workflow at all stages of store accounting, to approve the forms of primary documents of the store accounting for the rational organization of the store accounting at the enterprise. Scheduling fuel flow records covers the steps of creating, verifying, processing and storing a document. The created workflow schedule for fuel usage helps to improve the work of the accounting service, to reduce the cases of untimely documents processing, its loss, to reduce the deadlines for reporting, to increase the responsibility of employees at all levels for timely preparation, usage and processing.
THE ANALYSIS OF VENTURE COMPANIES’ RATIONAL INVESTMENT DECISIONS BY VALUE CRITERIUM
Authors: I. M. Riepina  , M. Yu. Kuzhel  , O. М. Halytskyi  , D. V. Lisovenko  , A. V. Fedchenko
Published: August 2020

The purpose of this article was to investigate the methodological tools for analyzing the rationality of investment decisions of venture capital companies by value criterion. Based on this goal, the state of development of venture business with participation of the corporate market in global venture agreements, global venture financing, the size of the global median of venture financing agreements in the stages of implementation of innovative entrepreneurial idea was analyzed. The result of the article was the systematization of the theoretical and methodological tools for the analysis of the rationality of investment decisions of venture companies by the criterion of value. The main criterion for the rationality of investment decisions is the possibility of return on investment in the future. Therefore, most of the world’s venture capital firms are pursuing an absolute and relative return on investment. The most successful are investments with a threefold increase in the value of repaid capital. However, they usually take up a small proportion of such investment decisions (up to 5%). The rest balance at the limit of zero. Considering the state of development of venture business, the theoretical and methodological toolkit to substantiate investment decisions that can be based on the analysis of their rationality for venture capital companies on the criterion of value and some indicators of evaluating the effectiveness of venture financing research allowed to make the following general conclusions in the following: allows to increase its value in the future; rational investment models take into account two main criteria: profitability and riskiness; there are no clearly stated factors that determine the value of a venture capital firm; all models have some limitations and difficulties in their practical application.
РОЗВИТОК ФУНКЦІЙ ІНТЕГРОВАНОЇ ЗВІТНОСТІ ПІДПРИЄМСТВА
Authors: M. T. Telovata  , K. V. Bezverkhiy
Published: August 2020

Необхідність розуміння функцій інтегрованої звітності викликано тим, що в Міжнародних основах інтегрованої звітності такі функції відсутні. Це актуалізує питання визначення функцій інтегрованій звітності, що забезпечить подальший розвиток концептуальної основи інтегрованої звітності та виведе її на якісно новий рівень. На основі вивчення сучасних публікацій вітчизняних і зарубіжних дослідників було сформовано й обґрунтовано перелік функцій інтегрованої звітності [інформаційна, аналітична (оціночна), контрольна; прогнозування, комунікативна, економіка-правова].

Об’єктом цього дослідження є функції інтегрованої звітності підприємства. Метa дослідження — є визначення функцій інтегрованої звітності підприємства для розширення концептуальних основ такої звітності, що уможливить формування ефективної системи інтегрованої звітності підприємства.

Теоретико-методологічною основою дослідження є діалектичний метод наукового пізнання i системний підхід до розкриття функцій інтегрованої звітності. Метод аналізу використовується для порівняння загальних функцій звітності з функціями інтегрованої звітності. Метод аналогії ґрунтується на припущенні, що функції інтегрованої звітності базуються на функціях звітності підприємства. Бібліографічний і бібліометричний аналіз застосовується для дослідження тенденцій щодо виділення функцій звітності у працях авторів. Метод пізнання об’єкта дослідження ґрунтується на системному та синергетичному підходах, відповідно до яких функції інтегрованої звітності розглянуто в нерозривному зв’язку із забезпеченням процесу ухвалення управлінських рішень. Метод логічного узагальнення використовується для формулювання висновків. Графічний метод — для побудови рисунків.

Наукова цінність дослідження полягає в подальшому розвитку та обґрунтуванні функцій інтегрованої звітності. Практична цінність нашого дослідження — у доповненні Міжнародних основ інтегрованої звітності інформацією про функції інтегрованої звітності, що наразі відсутні в цьому документі. Соціальна цінність дослідження проявляється в інформуванні та ознайомленні всіх потенційних укладачів і користувачів інтегрованої звітності.
METHOD OF ESTIMATING THE VOLUME OF THE SHADOW ECONOMY
Authors: V. Yu. Ilin  , T. P. Nazarenko  , I. V. Suprunova  , I. V. Tomashuk  , A. А. Shevchenko
Published: August 2020

The shadow economy at the transitional stage of development of Ukraine became an integral part of the economy, began to solve a number of macro and microeconomic problems of the state. Today, the shadow economy has a significant impact on all socio-economic processes occurring in the country. But the shadow economy’s share of gross domestic product today is so large that it poses a threat to national security. A significant level of the shadow economy leads to the criminalization of society, the growth of corruption, the formation of an atmosphere of legal nihilism in the state. Tendency to evade taxes causes significant damage to Ukraine’s budget. This, in turn, narrows the transition to a welfare state model, as it reduces resources for infrastructural upgrades, social payments, medical and other social services for the population.

Official estimates of the size of the shadow economy by various government agencies have considerable differences. Inaccurate assessment of the impact of the shadow economy on all spheres of the country’s activity leads to irrelevant assessments of socio-economic processes and their tendencies, miscalculations in the formation of domestic and foreign policy of Ukraine. The shadow economy has been researched by many scholars, but in the considerable number of works on this topic there are no even well-grounded data on the shadow economy. Therefore, the urgent task is to develop an algorithm for estimating the shadow economy. To do this, the article analyzes various terminological approaches to defining the shadow economy and its components. The classification of existing methodological approaches to the identification and assessment of the extent of shadow economic activity is carried out. A mathematically correct method of estimating the size of the shadow economy which is suitable for practical use has been proposed and substantiated. The analysis of the obtained mathematical equation showed that it is possible to formulate mathematically precisely the conditions for a stable level of the shadow economy and the growth of the shadow economy. The estimation of the correlation functional of the shadow economy size became mathematically accurate.
РЕГУЛЮВАННЯ ФУНКЦІОНАЛЬНИХ І СТРУКТУРНИХ ТРАНСФОРМАЦІЙНИХ ПРОЦЕСІВ У ФІНАНСОВОМУ СЕКТОРІ
Authors: O. I. Baranovskyi
Published: August 2020

Визначено взаємозв’язок і взаємозумовленість трансформаційних процесів і регулювання. Наголошено на правомірності формування системи регулювання структурних і функціональних трансформаційних процесів у фінансовому секторі національної економіки та визначено її сутність. Наведено авторське бачення класифікації різновидів регулювання структурних і функціональних трансформаційних процесів у фінансовому секторі. Акцентовано увагу на характеристиці cуворого, економічного / макроекономічного і соціального, податкового і антимонопольного, диспозитивного, статистичного, управлінського, індикативного, інституціонального, антикризового регулювання і саморегулювання. Зазначено, що саморегулювання слід розглядати не лише з погляду саморегулювання ринку, а й регулювання з боку саморегулівних професійних організацій банкірів, страховиків, професійних учасників фондового ринку, а також інших фінансових посередників. Виокремлено обов’язкове, санкціоноване і добровільне саморегулювання, цілі саморегулівних організацій на фінансових ринках. Обґрунтовано необхідність урегулювання інституціональних аномалій, визначення цілей, завдань, принципів, методів і напрямів регулювання / державного регулювання фінансового сектору, його «життєвого циклу», лага, а також вимог до таких механізмів. Представлено напрями вдосконалення регулювання, напрями і важелі державного регулювання функціональних і структурних трансформаційних процесів у фінансовому секторі. Визначено рівні функціонування і сутність механізмів регулювання структурних і функціональних трансформаційних процесів у фінансовому секторі, наведено їхні функції та класифікацію.
CONCEPTUAL FOUNDATIONS OF THE REGIONAL INDUSTRIAL CLUSTER FORMATION BASED ONEUROPEAN EXPERIENCE AND LEADING WORLD TENDENCIES
Authors: M. Р. Butko  , N. V. Ivanova  , O. V. Popelo  , G. M. Samiilenko
Published: August 2020

The article conducted a thorough analysis of contemporary works of scientists dedicated to the research of regional economic development through the functioning of the clusters. The presence of a large number of scientific achievements in the world and in Ukraine on these issues is revealed, which testifies to the complexity and multidimensionality of the studied clustering process and the relevance of its further research. Further study of European experience in the sphere of clustering in this article has revealed more than fifty-year interest and intensification of practical actions in the formation cluster principle of developing European economies.

For a more thorough understanding of the mechanism of introduction and development of the cluster principle of different European countries, the article analyzed cluster experience in such ones as Italy, Austria, Denmark, Finland, France and their peculiarities. In particular, the driving factors and prerequisites of clustering are clarified; Measures, which contributed to the development of clusters, the concepts of clusters, features of the implementation and development of the cluster model, as well as the effects and results of clustering.

In the paper separately the analysis of the industry trend of the clustering industry of Western European countries was carried out, on the basis of which conclusions are made that the cluster policy should be conducted in the spheres of activity that define the perspective The region's economic specialization and has a high potential for growth and competitiveness.

Based on the European experience of the formation and development of cluster structures and peculiarities of the implementation of clustering processes and the state of functioning of industry in modern conditions in Ukraine in the article proposed conceptual scheme of construction Clustering of industry in the region, which consists in sequential implementation of such stages as conducting directly clustering taking into account the existing potential of the region, its innovation, investment and other resources; Development of strategy for the implementation of cluster initiatives; Monitoring, regulation and control over the cluster activities. At the same time, positive changes in the industry of the region, in our opinion, will positively influence the intensification of innovation and investment development, inter-regional ties, promising areas of activity, improving the level of competitiveness of products and services.
КОНЦЕПТУАЛЬНІ ЗАСАДИ ФОРМУВАННЯ СИСТЕМИ УПРАВЛІННЯ ФІНАНСОВИМИ РЕСУРСАМИ ПІДПРИЄМСТВ
Authors: O. Ye. Gudz  , P. A. Stetsiuk
Published: August 2020

Аргументовано концептуально-методологічні засади формування системи управління фінансовими ресурсами підприємств. Установлено, що специфікою економічного середовища діяльності вітчизняних підприємств є обмеженість власних фінансових ресурсів, значні обсяги поточної кредиторської заборгованості, низький рівень капіталізації банківської системи і дефіцит довгострокових кредитних ресурсів, деформації у розвитку фондового ринок України. Означене зумовлює необхідність адаптації до цих особливостей і трансформації системи управління процесами формування та використання їхніх фінансових ресурсів.

Розкрито економічну природу, системний характер та особливості управління фінансовими ресурсами на мікрорівні. Наведено концептуальну модель системи управління, яка включає характеристику і послідовність етапів цього процесу, моделювання фінансового забезпечення, інструменти управління фінансовими ресурсами. Визначено безпосередню залежність трансформації системи управління фінансовими ресурсами підприємства від вибору фінансової стратегії та охарактеризовано евентуальні стратегічні орієнтири його фінансової діяльності. Ідентифіковано найбільш суттєві аспекти фінансової політики в контексті формування і використання фінансових ресурсів.

Установлено алгоритм розподілу фінансових ресурсів за окремими конкуруючими напрямами їх використання, на основі якого реалізується запропонована концептуальна модель управління. Він передбачає аналіз формування і розвитку фінансового потенціалу підприємства, прогнозування основних тенденцій зміни зовнішнього економічного оточення, визначення потреби у фінансових ресурсах та об’ємних і часових параметрів її забезпечення, організацію реалізації запланованих заходів. Розкрито методичні підходи, на основі яких здійснюється реалізація алгоритму. Встановлено ключові обмеження для забезпечення раціонального розподілу фінансових ресурсів.

Практичне використання розробленого науково-методичного інструментарію дає можливість оптимізувати структуру джерел формування фінансових ресурсів підприємства та ефективно розподіляти їхні обмежений обсяг між конкуруючими напрямами використання.
CURRENT CREDITING INSTRUMENTS INFLUENCING INVESTMENT CLIMATE IN UKRAINE
Authors: M. L. Shvayko  , N. O. Grebeniuk
Published: August 2020

The article investigates modern approaches to define the concept of investment climate. The latter is considered to remain unfavorable in Ukraine, although there are some positive changes in this direction. The factors which determine the state of investment climate are identified and structured in this paper. They include social, institutional, economic, integration and man-made ones. The key instruments which might influence the investment climate of Ukraine are determined. It is underlined that their effective use will improve the state of investment climate in the country nowadays.

The change of investment position of Ukraine in the world’s top rankings is underlined. According to the most authoritative Ease of Doing Business ranking, the rate of Ukraine is 71st at the beginning of 2019. Ukraine has considerably improved its rate recently. The most significant changes have been observed in the field of customs policy whereas the most problematic one is the bankruptcy procedures.

The research of the current state of investment activity in Ukraine has revealed an increase in the inflow of foreign direct investments, although their size compared to the needs of the real sector of the economy is still insignificant. The factors constraining the investment activity in Ukraine are formulated.

The usage of the relevant crediting instruments influencing the investment climate of Ukraine in order to improve it and to increase the activity of domestic and foreign investors is suggested. It is proved that tax, budgetary and crediting instruments of currency regulation are currently the most essential. Positive influence of currency liberalization on the investment climate of Ukraine is revealed. The legalization of crypto currency operations is recommended. It is also necessary to implement modern electronic accounting methods (blockchain technology) into financial practice and accelerate the implementation of Basel III international standards.

In Ukraine the legalization of cryptocurrencies will lead to a GDP growth, development of the new ways of running banking business and investment activity encouragement.
ECONOMIC AND LEGAL ASPECTS OF ENSURING FIANCIAL AND ECONOMIC SECURITY IN THE CONDITIONS OF EUROECONOMIC INTEGRATION
Authors: O. P. Uhrovetskyi  , O. V. Anishchenko  , I. V. Hubanova
Published: August 2020

In recent years, Ukraine has been striving to join the European Union and has a strategic objective to establish itself as a successful European state with a competitive economy integrated into the European one. A synthesis of recent studies suggests that in the context of economic globalization and the openness of the national economy for each country, the problem of ensuring financial and economic security becomes extremely important.

It has been established that financial and economic security is indeed closely connected with the processes of European integration and has a number of problems, the solution of which should take place at the state level. However, given the uncertainty regarding the duration of implementation and the effectiveness of economic and legal state measures to ensure financial and economic security, it is proposed to consider the development of ways to prevent possible threats and minimize their negative impacts as primary measures to create a system for ensuring financial and economic security.
THE NEW PARADIGM OF EUROPEAN FINANCIAL SCIENCE
Authors: Y. V. Pasichnyk  , O. A. Biletska
Published: August 2020

For finding out the main problems in the financial system of the EU countries, it was madea rapid analysis of its main indicators for nine years, where it was found that its state is unstable. There are identified the main problems of functioning of the EU financial system and it isrevealed the gaps in the explanation of modern economic phenomena by financial science. In order to understand the current financial processes in European countries, it has been developedan immanent-cognitive architecture of the modern economy, with the separation of relevant elements and relations. There are presented the views of foreign and domestic researchers on the use of existing theories of financial content, where it is proved the inconsistency of these theories with present realities. The way out of this situation, in particular to improve the functioning of the EU financial system, is to theoretically justify the vectors of European development with the development of the financial science paradigm. Taking into account the results of the performed analysis of the state of the EU financial system and the inability of current theoretical financial structures to explain the current processes that are formed in the financial system, it is proposed a new paradigm of financial science with the separation of conceptual and categorical apparatus. There are identified three main components of this paradigm. The first one is the method of cognition, which is used a system one, which allows to explore complex public open systems, which one is financial and to form theoretical constructions. The second component is the principles that should contribute to the most comprehensive consideration of all factors of influence and vectors of development of financial science. The third component identifies theoretical provisions, in particular: the formation of directions for the development of the financial system with the separation of its main components; development of a new model of financial system development, which would be aimed at innovative development of economic sectors, budget support of strategically important enterprises; development of theories of financial control over the movement of financial resources; substantiation of direct administrative and financial responsibility of officials of all levels for corruption manifestations
MAIN CHARACTERISTICS OF BUSINESS MODELS AND RISK PROFILE OF UKRAINIAN BANKS
Authors: E. Zarutska  , R. Pavlov  , T. Pavlova  , D. Pawliszczy  , B. Kuchmacz
Published: August 2020

The article investigates the main characteristics of the financial stability of Ukrainian banks, their risk profile, structure of assets, liabilities, income, expenses based on the monthly reporting data for 2004—2020 (number of observations — 3 813). The Kohonen self-organizing map (SOM) toolkit is used to form homogeneous groups of banks based on a large number of financial indicators. The selected toolkit provides a convenient visualization of the results. Each bank occupies a specific place on the SOM. The close location of banks on the map indicates that these banks have many common characteristics. This study is called the method of structural and functional groups of banks. The study formed stable groups of banks with the same characteristics of business models and risk profile. The formation of consecutive maps for each reporting period allows to obtain the characteristics of each bank separately and the banking system as a whole. The trajectory of an individual bank’s activity during the observation period characterizes the development of its business strategy. The migration of a large number of banks between groups reflects the objective changes in the conditions of banking. Increasing groups of high-risk banks indicate systemic problems. The results show that after a significant reduction in the banking system of Ukraine in 2014—2016, the business models of banks have changed significantly. The resource base relies on unstable sources of current funds with no set term of use. In the assets of banks, a significant portion is invested in government securities — government bonds. Bank loan portfolios have declined and have a higher proportion of non-performing assets (NPL). Many banks have increased currency risk. Concerns are raised about the state of large state-owned banks that hold a separate high-risk group. Thus, the conducted research allows to distinguish groups of banks with specific characteristics of business models and to observe changes of risk profile inherent to these groups. For each structural-functional group, changes in the values of financial indicators are investigated and migration between groups is studied. The proposed methodology is useful for studying both macro and macro levels.
BANKING BUSINESS INTERNATIONALIZATION IN DEVELOPING COUNTRIES (EVIDENCE FROM AZERBAIJAN AND UKRAINE)
Authors: F. Murshudli  , S. Sheludko  , E. Dilbazi
Published: August 2020

The article is devoted to the study of the banking business’ internationalization impact on financial markets, which is especially implemented in developing countries, primarily in post-communist states. The reasons for foreign banks to conquer new markets in this region have been the subject of numerous studies. The article’s novelty is the comparative analysis of the banking systems’ internationalization in Azerbaijan and Ukraine, through both theoretical and econometric aspects. As a result of existing concepts of banking internationalization’s generalization, three generic features were identified: economies of scale, competitive advantage over local banks, customers’ financial behavior; based on this, the systematics for theoretical support of this process is proposed.

Based on the comparison of foreign-owned banks share in developed and emerging countries, it is concluded a presence of the fundamental international banking business’ expansion in developing countries on the eve of the global financial crisis, which served as an aggravating circumstance in the spread of negative consequences.

The level of deposits dollarization and foreign exchange Loans-to-Deposits Ratio proves the key role of international banks in provoking currency credit expansion in both countries; in Ukraine this expansion (due to central bank’s irrational actions in foreign exchange regulation) has grown into a credit boom, which especially negatively affected the global financial crisis flow in the state.

For empirical confirmation of these assumptions, the economic analysis of banking systems internationalization and development indicators in Azerbaijan and Ukraine was realized through VAR-modeling. The key factors were: cross-border net position of international banks for residents of these countries, system's capitalization, Loans-to-Deposits Ratio, share of deposits in bank passives and the actual banking multiplier. The analysis substantiates the significant impact of international banking business on the state of the banking systems, the degree of which depends on the type of trade policy.
ECONOMIC AND MARKETING ASPECTS OF THE FUNCTIONING OF SMALL ENTERPRISES
Authors: M. Lyshenko  , T. Ustik  , V. Pisarenko  , N. Maslak  , D. Koliadenko
Published: August 2020

The purpose of the study is to effectively ensure and improve the marketing management of small businesses and to substantiate a methodical approach to the choice of strategies in the formation of commodity, price and product distribution policies in enterprises. The following general and applied research methods were used in the research process: analysis and synthesis, deduction and induction were used to determine the economic and marketing factors affecting the functioning of small businesses; systematization and generalization to calculate the performance of marketing department at small business enterprises; expert assessments — in determining the factors of influence on the internal and external environment of a small enterprise; monographic methods — for in-depth study of tasks; abstract-logical methods — for theoretical generalization of research results and formulation of conclusions and proposals.

The aim of the study is to analyze the situation with the organization of small business and the peculiarities of its doing. In order to improve the economic and marketing mechanisms of functioning of small businesses, a methodology for creating conditions for effective business activities of business entities, overcoming difficulties and solving problems related to lack of knowledge and experience of doing business, providing opportunities to obtain loans and necessary information, contributing to job creation, overcoming disparities in regional economic development, increasing export opportunities for small businesses, increasing production and its restructuring, to facilitate access of small businesses to modern innovative technologies, improvement of marketing and creating marketing department in the company, the definition of the main functions of the functioning of this structure. Certain scientific developments concerning the substantiation of economic and marketing aspects of the functioning of small enterprises can be used for further scientific developments in this area, as well as in the practical activity of enterprises to evaluate their innovative, financial, marketing potential and formulate development strategies.
THE IMPORTANCE OF FINANCIAL LEVER IN THE MANAGEMENT OF ALTERNATIVE ENERGY DEVELOPMENT
Authors: V. Metelytsya  , O. Gubar  , V. Chaban  , O. Perederii  , Y. Hryhorenko
Published: August 2020

The use of renewable energy in Ukraine is steadily increasing year by year. This is facilitated by the annual doubling of financial investment in energy production using alternative sources. There are many tools to manage the development of alternative energy. But the most influential are financial and credit instruments. The improvement of technology reduces the cost of capital and operating costs. But the issue of tariffs, benefits, availability of bank loans and their rates is in the hands of state regulators. The paper also analyzed the prospects for market development. The projection results for the period 2020—2035 presented in the article indicate significant changes in the consumption of fuel and energy resources by their types. The analysis of the forecast data proved that the predicted results can only be achieved by doubling the use of renewable energy during this period. This result can be achieved if alternative energy development management is applied. The need to manage the development of alternative energy in its different forms requires the use of appropriate methods and tools of public administration. Therefore, the classification of ways, tools and methods of development management has become extremely important. This classification proposed in this paper allows us to apply a systematic approach to the selection of effective tools, ways and methods of managing the development and modernization of efficient production and use of energy using renewable energy sources. It is established that the average profitability of alternative energy projects is ~ 20% and the payback period is 5-6 years. To compensate for the technological and economic shortcomings of certain types of energy production, it is proposed to optimize costs by investing in their integrated use. To encourage investment in alternative energy projects, it is proposed to introduce competitive energy purchases in the market. According to the calculations, it is possible to reduce the «green» tariff by 10% and then reduce it by 2.5% annually for three years. The combined «green» tariff for solar and wind energy installations of households should be 0.1228 EUR / kWh.
INTERNATIONAL AGRARIAN RECEIPTS AS A MECHANISM FOR FOREIGN INVESTMENT
Authors: A. Starodubtsev  , Yu. Bakai
Published: August 2020

The paper analyzes the characteristics of lending to agricultural commodity producers using the innovative financing method — the agrarian receipts.

In order to operate a new tool for lending to agricultural commodity producers, in the fall of 2014, a joint Order of the Ministry of Agrarian Policy and Food and the Ministry of Justice of Ukraine has introduced a pilot project Agrarian Receipts in Ukraine with the assistance of the International Finance Corporation (IFC) in partnership with the Swiss Confederation in Ukraine. Not only suppliers and distributors of material and technical resources, grain traders, banks, but also non-resident companies from Estonia, the Netherlands, and the United Arab Emirates have joined creditors on agrarian receipts. As a result of the Project, small and medium agricultural commodity producers have received an effective tool that will help to attract additional financial resources due to transparency of relations with the lender and to reduce the cost of the registration procedure compared to other tools.

That is why the paper notes the importance of improving the mechanism of international agrarian receipts by amending the current legislation of Ukraine. After all, this will contribute to improve the access of agricultural commodity producers to production resources and financing, usability, efficiency, reliability of agrarian receipts, and expand the scope of their use. In this regard, proposals to amend the Law of Ukraine On Agrarian Receipts, namely, to determine the legal nature of an agrarian receipt and to enshrine at the legislative level of an agrarian receipt as a security with the possibility of its use in free circulation have been developed.

It is considered the foreign experience in crediting the agricultural sector using of agrarian receipts. The features and attractiveness of the mechanism for financing agricultural commodity producers using international agrarian receipts, because it allows domestic agricultural producers access to international financing, have been disclosed. Therefore, one of the main purposes of this paper is to attract the attention of reseachers to the need to improve the mechanism for applying international agrarian receipts, putting them into circulation, which will facilitate the effective use of this tool by agricultural commodity producers in the process of attracting foreign financial resources.
METHOD OF STRUCTURING BUSINESS MODEL AND MATHEMATICAL MODEL OF DSS OF IT COMPANIES
Authors: O. Lagovska  , G. Loskorikh  , N. Stoika  , V. Semion  , N. Karasova
Published: August 2020

The problem of creating a decision support system (DSS) for products/services in IT companies using an effective conceptual approach has been solved. The developed mathematical model of DSS for IT-business is represented. It-business is considered as a business focused on implementation and support of innovative projects. The mathematical model is intended for the use by an IT company as a separate IT project and a group of IT projects. Elements of graph theory and tensor analysis were used to create the mathematical model. DSS, with the use of the mentioned model, can be interactive and offer an effective solution by minimizing or maximizing the factor or group of factors that influence that decision. The search for the best DSS solution was reduced to the task of optimizing the integrated criterion, minimizing or maximizing the factor or group of factors influencing the decision. Since the possibility of negative values of the objective function for certain parameters of the weight of the edge of the digraph was clarified, the application of the Bellman – Ford algorithm for this reason was justified. The method of linear convolution was used for efficient operation of the algorithm. This allowed us to use the algorithm to solve multicriteria problems, in the absence of information about the form of the integral function. An adaptive algorithm was used to speed up the work. It is that the results of query processing form a database of templates. This will allow you to quickly find a solution for a similar query, even if you change the initial conditions. A universal approach to structuring the work of an IT-company has been developed. This allows formalizing requests to the DSS and to receive formalized responses both at the specific stage of the project, a separate type of work on the project and the project portfolio and the IT-company as a whole. This, in turn, allows optimizing the use of computer resources when working with DSS, reducing both the time to perform requests in the interactive mode, and for the formation of variants of the solutions for the tasks set by the user via DSS. Structuring according to the main features of the project allowed group the work of the IT company according to available resources and desired results. This will allow you to plan and organize the work of each employee to work not only in one project, but to perform work in different projects. It is also possible to plan and organize the work of working groups. Each of the executors of these groups is formally subordinated to their structural units and, at the same time, to the coordinator of the respective project. The proposed approach allows you quickly reorienting DSS to perform radically different tasks, to fulfill a different purpose, to other areas of work of an IT company, other projects. It would only take time to update and replenish the DSS database