Abstract: The intensification of innovations required system approach, including at the macro level, which resulted in creation of national innovation systems (NIS). Such systems are designed to support and ensure innovation processes, including creation of favorable conditions for interaction of their different actors (various kinds of business; universities; scientific institutions; state). Each of the actors performs its own role in NIS, which contributes to the total innovation productivity. Methodology. Universities playing a specific role in NIS are an integral subject of innovative activity. Despite considerable attention to this problematics, this role is disclosed in a fragmented manner. Therefore, the research is focused on clarification of theoretical and methodological background to study of the role of universities in NIS, justification of the evolution of universities and definition of their functions in the NIS structure, specification of the key aspects of the disclosure of this role implementation. Results. This paper highlights the increasing importance of education in innovation processes and changed requirements to it, which causes respective changes in curricula, organizational models and approaches to external cooperation with science and business. In this context, the paper discloses the key aspects of interaction between universities and entrepreneurial sector, as well as evolution of universities by a number of features (dominant functions of science; universities as knowledge providers; universities as providers of high-skilled employees; universities as mobilizers of entrepreneurs). The major contradictions of the concept of entrepreneurial university are highlighted. Practical implications. The paper describes the key functions of universities in NIS, including education, RD providers of innovations for economy; platform for cooperation; concentrators of resources needed for innovations; mechanism for knowledge transfer and source of skills; pillars of the advanced science and providers of new knowledge. In this context, the emphasis is laid on the need to develop resource and infrastructural potential of universities as well as innovation capabilities. Value/ originality. When summarzing the functions of universities, it is suggested taking into consideration the impact of university activities on the local economic development (regional, urban economy), and considering their role in interaction with international environment. A number of practical recommendations to improve the efficiency of educational and innovative activities in NIS are identified. This will be a basis for future researches.

Abstract: The purpose of the research. The research subject purpose is theoretical and practical aspects of the statistical assessment of the green economy potential in the sustainable development context. The methods. The article is based on the categories of theoretical (hypothesis, concept, theory, problem) and empirical (facts, empirical summarizations, empirical dependences) level of the issue, distinctive features of which are: objectivity; categorical character; rationality; testability; high level of generalization; universality and use of special tools and methods of cognition. General scientific and special methods of research are used to achieve the article’s purpose and solve its problems, namely: methods of analysis, abstraction and synthesis, induction and deduction, and system structuring method; hypothetico-deductive method; method of historical and logical integrity; method of idealization; methods of classification and system generalization; statistical methods. Considering that further “greening” of socio-economic indicators constitutes a vital problem remaining on the agenda of global and national institutes of development, the article’s objective is to develop an integral approach to the revision of the System of Environmental-Economic Accounting (SEEA) built by the UN approach, through comparing existing approaches to the statistical assessment of the green economy state and the green growth potential, taking into account the proposed energy indices and indicators. Results. It is demonstrated that because none of the integral indicators of “green economy” development has been widely adopted by now, national and international statistics have no grounds for separating green goods and services as a specific sector of the national economy. Practical implications. The System of Environmental- Economic Accounting (SEEA) has been adopted as a basic tool for the assessment of indicators reflecting the causal links between the economy and the environment. It is substantiated that most part of the data for measuring green growth processes has to be possibly collected by SEEA. Value/originality. The importance of the assessment of the dynamics of national economy greening is demonstrated, because this type of analysis enables one to assess the change in the environmental impact of the new economic model by analyzing the factors and identifying most effective methods for decreasing environmental pressures of economic activities. The advantage of such assessment is that it can be made on the basis of the available statistical data. Considering that energy indices and indicators are widely used in many international reporting systems to assess the state of green economy and the potential of green growth in the sustainable development context, we made an attempt to systematize all the indicators by the two main groups: direct and indirect. It is revealed that international organizations (ОЕСР, UNEP and the World Bank) attempt to unify the existing approaches in constructing their own algorithms for the assessment of “green growth”, in particular with the indicators of Sustainable Development Goals. At the same time, national statistical agencies attempt to build a set of statistical indicators for the assessment of green economy development as indicators of demand for green products. It is demonstrated that harmonized definitions of economic activities concerned with the green industry and green jobs and comparable key indicators, if used internationally, will enable for the statistical assessment of the green economic development in space and time.

Abstract: The article highlights the approaches to the development of sports and health activities and sports tourism in various spheres of society. It is proved that the current standard of quality of life in Ukraine is characterized as not satisfactory. Many factors affect the quality of life: lifestyle, genetic and environmental factors. However, one of the main issues remains the underfunding of development. The work investigates the state of financial support for health care, which is closely related to the level of low healthy life expectancy. It is determined that in modern conditions physical culture and sports are a necessary element of life of every Ukrainian. It is justified that grant programs are the main financial source for the development of physical culture and sports. It is proved that the state and non-state policy of development of physical education and sports should be built on creation of the corresponding concept for the next five years, which will include the appropriate strategy and program of development of physical culture and sports. The purpose of the article is a study of the peculiarities of organizing sports and health activities in different spheres of society and mechanisms of financing physical culture and sports in Ukraine. To achieve this goal, the following tasks are solved: to reveal the role and importance of organizing sports and health activities in different spheres of society; to conduct an analysis of the current state of financing of health care, physical education and sports; outline strategic guidelines for improving state and non-governmental policies on financial provision for physical education and sports. Subject and object of study. The subject of the research is theoretical and practical aspects of organization of sports and health activities in different spheres of society. The object of the research is the process of managing sports and health activities in different spheres of society. Research methods. For a comprehensive study of the necessary information the basic methods of information research in management were used. In the study of the current state of financing the health care, physical education and sports the methods of statics and dynamics were used. The dynamic method was used to analyze health care expenditures in percentage terms to GDP and total expenditures, average life expectancy at birth in Ukraine, transition from one equilibrium state to another for the period from 1995 to 2017. The static method involved a comparison of the amount of annual funding from the State Targeted Social Program for the Development of Physical Culture and Sports and the actually allocated funds. An economic model of the dynamics of health care expenditures in percentage terms to GDP and total expenditures, average life expectancy at birth in Ukraine in the form of a graph is constructed.

Abstract: The purpose of the article is to reveal the role of budgetary projection in the system of financial and economic regulation of social processes within the framework of improving the efficiency of fiscal policy intended to macroeconomic stability maintenance in both countries with transformational and advanced economies. The comparative and factorial methods allowed to developthe features of the institutional environment of the budgetary progection methodology, to identify approaches for its improvement. Methodology. Substantiation of the role of budget forecasting in the system of financial and economic regulation of social processes, determination of provisions for improving its methodology is based on generalized and systematic approaches that are applied in both developed and transformational economies. An analysis of the stages of the process and the budgetary projection methods evaluation, that are used in different countries, have been carried out. Results showed that the efficient budgetary projection methodology is the basis for sound fiscal policy. The development of realistic budgetary projections facilitates justified management decisions aimed at ensuring the country financial firmness. Devia-tions from budget revenues from the projected indicators do not make it possible to achieve certain fiscal policy outcomes and, accordingly, cause a budget cut. In order to develop realistic budgetary projections, a welldesigned and coherent database is needed for all time series, necessary to analyze and project budget revenues. Time series of key determinants affecting the budget revenues level should be available at different frequencies (monthly, quarterly, annually). Where data reflecting similar economic processes by different revenue sources are available, any differences between them shall be determined by reference to their coverage and methodology. Practical implications. Budgetary projections are the basis for the formation of effective fiscal policy and the benchmark of the reproduction process. Adequate level of justification for budget projection will help to provide a dynamic balance of budgetary indicators and the budgetary system stability. Institutional changes to the budgetary projection methodology should be made on the basis of taking into account the dynamic interrelation of budgetary and macroeconomic indicators. The remarkable task here is the development of an economic and mathematical model based on the assessment of the national economy capabilities by reference to the assessment of macroeconomic proportions and the corresponding social and economic conditions of social production. Value/ originality. Developing the budgetary projection approaches in the context of improvement of the fiscal policy efficiency is an important precondition for ensuring macroeconomic stability. In order to increase the budget projection justifiability, it is advisable to make institutional changes to its methodology. Based on the methioned above, the article reveals the essence and role of the budgetary projection in the system of financial and economic regulation of social processes in the context of improving the fiscal policy effectiveness aimed at macroeconomic stability maintenance; approaches to improving the budgetary projection methodology have been identified, and it has been determined that the soundness and feasibility of budgetary projection are the basis for effective fiscal policy. The predictability of budgetary criteria, budgetary architectonics contribute to improving the efficiency of transformations in the public finance system.

Abstract: The article highlights the problem of management of sustainable entrepreneurship adaptation to tax changes in environmental investment and substantiation of the conceptual basis for assessing the efficiency of environmental investment in terms of Ukraine’s integration processes into European community that involves introduction of sustainable economic development and mechanisms of “green” economy. Methods. A study of the peculiarities of environmental financing in Ukraine has been conducted. The theoretical bases of investment management have been examined by means of the following methods: semantic analysis of interaction of the basic elements of environmental investment process for sustainable entrepreneurship development. With the use of a comparative analysis of environmental investment, efficiency and effectiveness of environmental tax collection in Ukraine and the EU countries, the expedience of using environmental taxation as a means of stimulating domestic environmental investment has been substantiated and the need to assess the efficiency of environmental investment has been defined. Results. A study of the peculiarities of domestic environmental taxation in order to establish its efficiency has been carried out. The experience of using taxes as a means of stimulating environmental investment in the EU countries has been under consideration. This research has shown that the efficiency of environmental taxes is ensured by their high rates, which encourage companies to innovate and make appropriate environmental investments. A number of shortcomings in the domestic environmental policy have been identified. It has proven the low efficiency of its instruments, in particular, related to assessing the efficiency of environmental investment. A study of the peculiarities of environmental financing in Ukraine has been conducted. The current tendencies of investment in environmental activities with the identification of causal relationships to substantiate management decisions to improve the use of financial resources for environmental purposes have been highlighted.

Abstract: Economic processes in the world are characterized by a high level of dynamism, change and innovative approaches to addressing key issues in nowadays. In a context of globalization and European integration of Ukraine into a high-tech competitive environment in order to financing innovative projects, it is necessary to use Blockchain technology as an effective tool for digital economy. Purpose of scientific research is to find out key priorities and functionalities of Blockchain’s application for solving business and government tasks. The object of scientific research is the latest financial technology Blockchain and a system of cult-technologies: crowdsourcing, crowdfunding, crowdinvesting. Methodology. In the process of re-search, the following methods are used: generalization – in studying the nature, pre-conditions and principles of Blockchain technologies; formalization – when compar-ing characteristics of the latest forms of financing, such as crowdsourcing, crowd-funding, crowdinvesting. In the course of scientific research, key qualitative charac-teristics of digital economy are described and the dominant components of its devel-opment are investigated. The result of the article. The priorities, new principles of business management and possibilities of Blockchain technology as an effective digi-tal economy tool for solving business and government tasks are revealed. Future pro-spects from the implementation of crowd-technologies as an effective management tool in progress for solving the problems of innovative business are substantiated. Interconnection in the latest financial institution of creative initiatives realization is presented. The comparative analysis of management of new institutes of innovative development for Ukrainian economy in the course of doing business is carried out. The result of the research is presentation of the relationship in the latest financial in-stitution implementing creative initiatives and a comparative analysis of new insti-tutes of innovative development in the sphere of finance for the Ukrainian economy. Practical implications. The components of digital economy identified by the authors in the article are accelerators of the socio-economic life of Ukrainian society in the modern world and are capable of rapidly increasing Ukraine’s GDP. The described new forms of financing of Ukrainian start-ups (crowdsourcing, crowdfunding, crowdsourcing) are today quite interesting and effective tool for solving business problems in the financial, economic, innovative, marketing and marketing spheres. Value/originality. Blockchain technology, as an effective tool for Ukraine’s digital economy, is able to address the challenges of business and government, uncover the relationship between crowdsourcing, crowdfunding, crowdsourcing, and explain the content of innovative financial institutions for Ukraine’s economy.

Abstract: The purpose of the paper is to identify the common factors and their influence on features of NRI and, as a result, the impact on the competitiveness and well-being of Ukraine. The most influential economic indicators for the similar economic changes in the European countries are determined. Exploratory factor analysis has been used to uncover the underlying structure of relationships between measured variables that constructs the value of the Networked Readiness Index (NRI). Methodology. This research is based on a materials for the Eastern European countries, including Ukraine, Bulgaria, the Czech Republic, Estonia, Latvia, Lithuania, Poland and Romania, which have been used for the numerical evaluation of the data. The selection criterion for these countries is in many respects a similar evolutionary path of market economy development. Exploratory factor analysis (EFA) is used to investigate possible relationships between variables that are unique factors and NRI. In this case, EFA is used to analyze the relationship between Environment subindex (Political and regulatory environment with Business and innovation environment), Readiness subindex (Infrastructure, Affordability and Skills), Usage subindex (Individual usage, Business usage, and Government usage) and Impact subindex (Economic impacts and Social impacts) or observable variables and how it is affected by total summary NRI. As the predefined structure has not been set, EFA is used to measure the underlying factors that affect the variables in the data structure. Selecting factors and variables so as to avoid too much similarity of characteristics is also important. The set of subindexes values is divided on 31 variables corresponding to the reports' data. EFA has been carried out on R programming language for statistical computing by using environment and graphics supported by the R Foundation for Statistical Computing (GNU project). Results. Data dependency estimation for the macroeconomically significant Network Readiness Index has been implemented. It is proposed to construct a space of constituent parameters. Eigenvectors have been obtained for an array of data for the economies of eight European countries, which allow us to estimate the general development trends for macroeconomic decision-making problems. In particular, three complex factors are identified. Practical implications. The vectors determine change of the constructs of the value of the Networked Readiness Index of countries. EFA with dataset rawfl, method is maximum likelihood, diagonals of the correlation matrix are equal to squared multiple correlations. PA test is carried out to compute the eigenvalues for the correlation matrix. The study also made it possible to forecast the pace of development of information technology under the influence of the global viral pandemic COVID 19, which will launch a global economic and social recession. Value/originality. The algorithm proposed in this research is proved improving of discriminating between indicators in construct of the value the Networked Readiness Index.

Abstract: The purpose of this article is to analyze the experience of agricultural cooperation in foreign countries, such as Sweden, Norway, Finland, Japan and apply it in Ukraine. The defining feature is that the existing agricultural cooperation in Ukraine is not backed up by proper legislation to integrate with the European countries. Analyzing the state of agricultural cooperation in Ukraine in comparison with foreign countries, the country remains a number of unresolved issues regarding its normal functioning, namely: the activation of international economic cooperation of Ukraine involving the development of a strategy for the effective functioning of agricultural cooperation, which is the basis for ensuring the various areas of rural development employment of rural population. In addition, agricultural cooperation stimulates the development of agrarian market infrastructure, plays an exceptional role in strengthening the economic potential, competitiveness and social status of agricultural producers, improving economic conditions and creating incentives for the growth of commodity products. However, so far its development is at a low level, the main reasons being the underestimation in the process of economic reforms of cooperative forms of economic activity, general unfavorable conditions for agricultural production, psychological unwillingness of peasants to cooperate and insufficient knowledge of the rural population about the benefits of cooperation, weak state support for small businesses in agribusiness and agricultural cooperatives. Methods. The countries of the West in every way stimulate the development of cooperation: by appropriate laws, privileges, subsidies. Ukraine needs to take the example from these countries in order to develop the cooperative movement, which will stimulate rural development. Results. Ukraine is trying to build on the experience of different countries in the field of agricultural cooperation, backing up on the best of the countries studied. Practical implications. Studies have shown that world experience convinces that cooperation has contributed to the development of many countries in the world. In Europe, for example, cooperatives are an important part of economic life and industry. Value/originality. Analyzing the activities of agricultural cooperatives operating in the world, we point out that the main advantage of combining agricultural producers in cooperatives is a grower group (union or cooperative) is considered as the only powerful organization that is able to buy large volumes of products and services and realize large volumes of production.

Abstract: The article examines the role of the tourism industry in the world economy, reveals the specifics of the innovation process in tourism. The classification of innovations in tourism according to the object of their application is given. The main directions of using innovative marketing technologies in the field of tourism services are considered: release of new types of tourism product, change in the organization of production and consumption, identification and use of new markets, as well as the use of new equipment and technology. Factors that accelerate the introduction of marketing innovations are studied. Based on the analysis of world experience, several models of regulation of innovative tour operating activities in the EU have been identified. The first direction of formation of the model of the innovations development in tourism is the activity of stimulating innovations in the public and private sectors of tourism with the aim of their transition to a qualitatively new model of touring (similar model is used in Greece, Italy and Portugal). The second direction is defined as the internationalization and opening of new markets (a similar model of stimulating innovative development is typical of Spain, Romania and partly Norway). The third one includes support for entrepreneurship in the field of tourism, stimulation of entrepreneurial initiatives, opening a new tourism business (A similar model of stimulating innovation in tourism is typical of many countries in Europe, Australia, New Zealand). The fourth direction is the promotion of the country, its tourism product, including educational and cultural ones (A similar model is typical of Bulgaria, Croatia, Spain, Turkey, Thailand). The role of introduction and active development of e-business and marketing technologies is defined, especially in modern conditions. The necessity of development of the newest directions of the Internet marketing in the field of tourism, including mobile, Internet branding and geomarketing, is proved. The role of innovative marketing technologies as one of the central elements of modern development of activity of tourist firms, the necessity of application of computer technologies and non-standard ways of giving of the information during carrying out modern technical maintenance, are justified. The first group of such technological solutions consists of management technologies, including property management system (PMS), aimed at optimization of basic technological operations. The modern hotels and chains are trying to present themselves not only in global distribution system (GDS), which has become a powerful advertising tool, but also in alternative distribution system (ADS), which is primarily needed by hotels focused on the business segment. Global distribution system (GDS) is also closely integrated into well-known booking systems such as Booking.com, HRS, Agoda, Travelocity, Expedia etc. The next group is for food and beverages inventory management technology (F&B). The group of marketing technologies includes search engine optimization measures (SEO and PPC), which allow to raise the hotel site in search engine rankings, E-mail Marketing as a means of maintaining constant communication with the client, marketing activities in social media (Social Media Optimization), creation of virtual hotels or illusions of visiting a hotel (Second Life and Virtual Hotels Conclusion), branding, etc. The last group of technologies are service ones, i.e. technologies for improving hotel products and services. Innovative technologies are developing in the direction of ensuring sustainable development (greening of hotel services and activities), inclusion in traditional technological operations of innovative components: electronic concierge terminals, access to hotel services via mobile devices, maximizing Internet access, etc. Based on the analysis of the activities of large tour operators, regional differences have been identified in Turkey, Greece, Croatia, Spain, Austria, Norway and France. It is proved that marketing innovations in tourism have a qualitative novelty, which affects the promising areas of tourism development, improvement of existing tourism products, improving the image and competitiveness of the tourism industry. Based on the study, it is generalized that the role of marketing innovations in international tourism has been growing every year, and it has become especially relevant in the conditions of the COVID-19 crisis. For travel companies, the effect of marketing innovation can be expressed in the qualitatively new changes in the tourism industry, improving the efficiency of tourism infrastructure, management of sustainable operation and development of tourism in the country and the formation, positioning and consumption of tourism services, improving the image and competitiveness of travel companies.

Abstract: A reduction of the tax burden on corporate income in order to stimulate drivers of economic development has become the important issue of tax reform in many countries in recent decades. Tax competition forces national governments to take well-balanced solution on increasing outward and domestic investments as well as ensuring the fiscal capacity of the budget to cope with urgent socio-economic problems under enhancing fiscal risks. The purpose of the article is to assess the impact of tax reforms, addressing reducing the corporate income tax burden, on the fiscal space and investment processes in the EU countries and Ukraine, to establish directions of improvement of the tax system in Ukraine and other transition economies in order to spur the expansion of fiscal space. The research subject covers tax policy settings that shape fiscal space development. Research methodology. In accordance with the purpose of the article, the research methods are set as follows: abstract-logical; systemic analysis; analysis and synthesis; graphical method. Findings. By summing up theoretical ideas on the issue of feasibility of cutting corporate income tax, we have arrived at the conclusion that this measure has a significant impact on the improvement of tax competitiveness of the national economy. The gain from its application is confirmed by the best practices of many European countries. The results of the tax reform in Ukraine have proved that a traditional approach to the choice of tax issues – in contrast with developed economies – do not comply with theoretical provisions on increasing the competitiveness of the national economy and fostering investments. This is conditional on the specific tax effects in Ukraine due to the restriction of the key economic freedoms (investment, financial, property rights protection and judicial effectiveness) needed for successful entrepreneurship, as well as of a high rate of corruption, which increases the costs of business activity. Such effects include, in particular, a drop of tax revenues in the short and long term while reducing the level of corporate income taxation; a high level of tax evasion, capital outflow instead of expanding investment in the national economy. It is argued that the emphasis while carrying out tax reforms and expanding fiscal space in transition economies considering the specific effects of changing corporate income tax provisions, should be made on ensuring the long-term sustainability of public finances through measures of budget adjustments aimed at avoidance shifting the existing fiscal problems on future generations; harmonization of national tax legislation with the EU regulations and prevention of tax evasion; increasing the financial capacity of enterprises by introducing targeted innovation tax incentives, which will gain higher competitiveness of the country in the world markets and as a result facilitate the growth of the country’s future revenue receipts.

Abstract: The article is devoted to theoretical and methodological problems of assessing the readiness of socioeconomic systems for changes. The theories of factors that are the mainstay of this study are the interesting section in this study. To complete the study of changes in complex socio-economic systems, along with the approaches of evolutionary universalism, a set of scientific methods was applied, namely: structural-functional analysis, comparative-typological analysis, historical method, methods of induction and deduction. The aim of the article. The main purpose of the study is to develop further theoretical and methodological approaches to scientific substantiation of changes in socio-economic systems in different concepts of evolutionary economics. Methodology. The methodological and theoretical foundations of the research are the theories of factors that are the mainstay of this study. To complete the study of changes in complex socio-economic systems, along with the approaches of evolutionary universalism, a set of scientific methods was applied, namely: structural-functional analysis, comparative-typological analysis, historical method, methods of induction and deduction. Value/ originality. In particular, we defined methodological requirements for the evaluation process and systematized the formalized methods of different levels of socio-economic systems assessment implementation complexity. We proved scientifically that the trajectory of system movement is determined by achievement a critical point that changes the quality of socio-economic system. At the same time, the value capitalization of the enterprise should be ensured concerning consumers and other stakeholders, participants of the enterprise activity. The levels of socio-economic system readiness for changes are highlighted.

Abstract: The aim of the proposed research consists in outlining prospects of cluster mechanism application and verification of the cluster strategy in view of innovative development of cross-border regions against the background on strengthening integration processes. The work is dedicated to research of theoretical, methodical and applicable basis of strategic management of development of international integration associations as network-like structures of intra-branch and inter-branch cooperation on their mesolevel. The research method is based on mesoeconomic synthesis of development concepts in industrial and innovative clusters and international integration associations. To the authors’ opinion, it enables to work out both mechanism and scientific understanding of development trends in modern integration systems. The scientific hypothesis of the proposed work suggests that the cluster approach is the most efficient mechanism of development of international economic cooperation under modern conditions and, finally, is a mesolevel of competitive international integration systems and necessary pre-condition of qualitative progress of integration of Ukraine into the EU. The authors propose to develop integration processes of mesolevel within the framework of unified economic space basing upon clustering. Concept, structure and life cycle of net forms of self-organization of a cross-border economic space in conditions of developing a postmodern economy are considered. Conclusion is drawn to state that the cross-border clusters concept construes an approach adequate to modern challenges to stimulate economic development of peripheral regions with inherent features and advantages taking into account comprehensive dynamic competition and coordination of problems of meso– and macrolevels with conditions accompanying operation and activity of particular business entities. Under such circumstances, cluster policy consists in creating conditions for formation and development of cross-border clusters, but, under no circumstances, in artificial generation of such clusters. Theoretical positions and methodological approaches to the formation of industrial clusters within European regions are systematized. The essence of cross-border and internal relationships of the cluster as a factor in increasing competitiveness in the increasingly Euroregion integration processes and the need to enhance the role of peripheral regions within the framework of crossborder cooperation. The strategic priorities for spatial development of new forms of cross-border cooperation in the context of regional policy of the EU are outlined.

Abstract: This research is devoted to revealing the theoretical and practical foundations of the intellectual economy formation in the conditions of post-industrial society transformation. Using the historical method of analysis, the authors has made the comparative assessment of the main approaches to explaining the content, factors and features of the intellectual economy development. It has been proved that the main driving force of economic development in the intellectual economy is knowledge, which simultaneously acts as both a resource and a product, and for that product specific demand at all levels of the economic system has been formed. In our view, the intellectual economy is a type of economic system that, being based on the intellectual capital of society in the conditions of development of modern information technologies and systems, uses, transforms, creates and disseminates information and knowledge in order to ensure the growth of social welfare, international competitiveness of countries and extended knowledge and innovation cycle formation. That is, knowledge is at the heart of the development of the economic system, and, at the same time, is the final product of this system in each cycle of reproduction of the socio-ecological-economic system. The determining direction of the transformations in the intellectual economy is predominantly the creation and consumption of knowledge as a different type of intellectual property, including its materialized form with a high intellectual component. The fact that knowledge and information are not only used as an inexhaustible cognitive resource for the development of production, but also turn into the main types of consumption associated with personal development, as a means of renewing and building up this resource, is the key to the endless progress of the intellectual economy. The special features and principles of development of intellectual economy have been explained in the paper. These features and principles have been suggested to use as criteria for the construction of national programs for the intellectual economy formation, as well as for these programs success estimation. The recommendations for overcoming the barriers to building Ukrainian intellectual economy have been elaborated.

Abstract: The purpose of the article is to analyze the tax systems of the countries of the European Union and Ukraine, the impact of individual indicators of the tax system on the economies development, study the possibility of applying the accumulated experience. The subject-matter of the study is the methodological and conceptual foundations of the tax policy-making process of the EU and Ukraine. Methodology. Based on the analyzed scientific literature on tax policy formulation of countries, the methodological principles of this study provide for the joint application of a set of well-known general scientific and special methods of research in economics. In particular, the dialectical method, the method of scientific abstraction, the method of systematic analysis, economic and mathematical modeling were used. Results. The article analyzes the individual indicators of the tax system functioning of 28 countries of the European Union and Ukraine; and the impact of these indicators on the economy development. In particular, the following indicators were studied: customs and other import duties, firms expected to give gifts in meetings with tax officials; firms that do not report all sales for tax purposes; firms visited or required meetings with tax officials; labor tax and contributions; net taxes on products; other taxes; other taxes payable by businesses; profit tax; tax payments; tax revenue; taxes on exports; taxes on goods and services; taxes on income, profits and capital gains; taxes on income, profits and capital gains; taxes on international trade; time to prepare and pay taxes; total tax rate. The dependence of foreign direct investment on profit tax, tax revenue; taxes on income, profits and capital gains; time to prepare and pay taxes and total tax rate have been studied. The study shows that, on average, tax revenue affects foreign direct investment, net inflows with the same strength as time to prepare and pay taxes, but almost twice as much as taxes on income, profits and capital gains. Practical implications. The article contains a set of tools and rules for reviewing approaches, guidelines and criteria for the effectiveness of Ukraine's tax policy in line with the global development concept. Value / originality. The conceptual criteria for the formation and implementation of the tax policy of the state are determined, it is carried out the comparative analysis of the tax policy of Ukraine and the EU countries within the framework of the European economic integration, which occurs simultaneously with the globalization of the world economy.

Abstract: The purpose of the article is to improve the strategic management of human capital in the context of digitalization. In modern conditions, the development of human potential is closely linked with the spread of digital technologies, which are being implemented and rapidly evolving in all spheres of the economy and society. In this context, the effectiveness of the processes of adaptation and competitiveness of socio-economic systems in the long run depends on the development and implementation of the concept of human capital development which takes into account the impact of digitalization processes on the formation of human capital, as well as on the relevant qualitative characteristics that will best meet the needs of the national economy in the transition to a digital model of governance. Methodology. The article is based on international legal acts, laws and bylaws of Ukraine in this area of legal regulation of human capital in the context of digitalization. Both general scientific and special methodology were used for the research: methods of analysis and synthesis, method of description, method of induction, method of deduction. Results. It is proved that the state policy in the field of human capital development in Ukraine today does not meet the modern challenges associated with the rapid development and spread of digital technologies. The consequences of this are already growing disparities in the labor market, shortage of highly qualified specialists with digital competencies at the appropriate level, growing trends in emigration of intellectual capital and gene pool of the nation abroad, reduction of the "middle class" and intensification of social degradation. Solving these problems requires the development and implementation of a Unified State Strategy for Human Capital Development, which will stimulate its formation, development and effective use in the vector of transition to a new technological system, ensure economic growth and high living standards. To this end, the concept of strategic development of human capital in the context of digitalization is substantiated. It systematizes the goals, principles, strategies and tasks of the state to ensure effective processes of human potential formation and its transformation into human capital in the context of implementing the strategy of sustainable development of the national economy under the influence of digital technologies. Conclusions. The strategy of human capital development in the conditions of digital transformations is substantiated. It is a system of interrelated directions, actions and mechanisms aimed at implementing the concept of formation, motivation and use of human capital, which meets the needs of the economy and society and contributes to the competitive advantage and continuous human development in the long run.

Abstract: The purpose of the study is to assess the relationship between Ukraine's foreign trade and its major macroeconomic indicators in the context of deepening globalization processes and increasing dependence of national economic development on exogenous determinants. In order to achieve this goal, the most important factors of influence of macro level on the scale of foreign trade turnover have been selected, the interval of observations has covered 1999-2018. Authors used the method of economic and mathematical modeling based on the E-Views software. A multifactor regression model has been constructed, tested for autocorrelation and heteroskedasticity; causal effects have been identified between foreign trade and the main macroeconomic indicators of combinatorial nature (both exogenous and endogenous), Ukraine’s foreign trade volumes has been forecasted up to 2023. Methodology. The study is based on the analyzed macroeconomic indicators for the period of 1999-2018, which made it possible to select those that showed up greatest impact on foreign trade. The results of the conducted modeling showed: high level achievement of foreign trade dynamics of Ukraine over the mentioned years, which exceeded similar indicators of dynamics of global trade; strong link between foreign trade, foreign direct investment and employment; revealing of a significant influence upon foreign trade of innovative activity of national business in industry as a dominant segment of the foreign sector of the country. As conclusions, the authors formulated a thesis on the need to strengthen institutional support for innovation and investment activities of national enterprises as a driver for scale-up and improvement of quality of Ukraine's trade relations with the entire world. It is determined that the multiplicative interaction of innovation and investment would diversify and complicate the commodity structure of exports, increase the level of its technological and innovative nature, and thus it is to allow to get rid of the established attitude to Ukraine on the trading map of the world as a supplier of low-tech raw materials. Practical implications. The main theoretical propositions, the authors’ conclusions presented in the article, are supposed to form a methodological basis for expert evaluation in substantiating the priorities of the state policy modernization regarding conditions and factors promoting the export-oriented sectors of the national economy. Value/originality. Prospects for further research in this sphere may be to assumed onto making an assess on risks (threats) and macroeconomic effects of foreign trade deterioration in the context of declining economic activity regarding importing countries of their domestic products, especially in the EU and the PRC, further weakening of external channels of investment and reducing the ability of businesses to innovate in deepening recessionary processes on the global and national levels.

Abstract: Communication with investors is an important component in the activities of SMEs and large companies. Facing the new changes (development of digital technologies, COVID-19, smart specialization) the search for optimal tools of communication with investors becomes a priority for all key stakeholders of the investment process (business, academia, civil society, local authorities). The aim of the article is to identify effective communication tools for business and develop recommendations for their use in the context of smart specialization. Subject of research: investor relations of large, medium and small companies in the context of smart specialization. The main research methods are systemic (to build a system of investor relations tools) and analytical (to determine the IR tools among the studied companies; to analyze the tools of investor relations by using social media). As a result of the study, it is determined that the promotion of the Ukrainian companies through social networks is inactive (Facebook – 13%, Instagram and Twitter – 4%, YouTube – 5% and LinkedIn – 1%). More than half of the surveyed companies indicate that the most common investor relations tools are news releases and presentations (71.4%), answers to questions (61.1%) and annual reports (52.7%). In this article, smart specialization is considered as a common tool for communication between key stakeholders. It was determined that in the conditions of COVID-19, they used the following tools: online dialogues, online conferences, online sessions, online workshops, online presentations, world cafes, annual lectures, online consultations, webinars (partner webinars). This study set out to explore investor relations tools in the context of smart specialization. In addition, such global tendencies were revealed as: IR boosting startups’ transformation into large companies; increasing both the investors’ interest to the companies and the requirements to corporate transparency promote using of IR tools; investor meetings via online platforms; impact of regional specifics on choosing IR tools of different companies. The results of the investigation show that Ukrainian companies have different IR politics. The main reasons why they use IR tools actively are their own internal requirements to the quality management and the need in external funding. Moreover, new legislation demands to the super advisory boards of public companies are reflected in using IR tools.

Abstract: The subject of research is actual problems of diagnostics of threats and risks of regional development, factors of economic safety, methodological support of its estimation. The aim is to formulate a methodological framework for assessing the economic security of the regions development. The formation of the research methodology is carried out on the basis of theoretical and methodological platform for the development of rating method for assessing the economic security of the region. The use of the matrix method for describing the initial state of the system has been justified; the method of normalized values has been used for bringing various indices. Factors influencing the level of investment activity and economic security of the region have been identified. All factors that change the level of economic security are divided into four groups depending on the macroeconomic indicators, the level of which they take into account. It is proposed to divide them into two groups – direct action factors that increase the level of safety and reverse action factors that reduce it. Indicators characterizing the economic development of the region have been grouped by factors of economic security. For each group, the significance of the impact of indicators of individual groups for evaluation of the economic security of the region development has been determined. To estimate the economic security of the regions' development, it was proposed to use an integral indicator based on the state of general economic development, investment activity in the region and demographic indicators of economic development. Depending on the influence of individual factors, the rank of each region is determined first for each group of factors, and then the integral. According to the results of the assessment of the economic security of regions' development by individual groups of factors and the calculated integral indicator, the place of each region has been determined by the level of economic security. The result of the study is classification of the regions according to certain criteria on the basis of the integral index of economic security of the regions' development, which will allow not only to compare the level of economic security, but also to formulate a nationally balanced regional development strategy and identify priority investment areas.

Abstract: Tourism has been growing and diversifying in recent years to become one of the fastest growing sectors of the economy in the world. Modern tourism is closely linked to economic development and is embracing an increasing number of new destinations. Such dynamics have transformed tourism into a key driver of socioeconomic progress. As for recreational tourism as one of the key species, it not only covers most of the related industries directly or indirectly, including transport, construction, trade, catering, agriculture, housing and communal services, culture, art, sports, etc., but also stimulates their development. The focus of recreational tourism on the sea and ocean coasts has expanded the range of tourism services. Aquaculture, which is becoming more relevant in the context of ecosystem conservation, is one of these areas of activity. Since aquaculture and tourism require certain requirements for water quality and the environment, there is an inevitable conflict of interest between entrepreneurs. And as research has shown, such conflicts have arisen in many countries. It has been found that solving this issue may not be the same for everyone. Only individual management, strategic planning and continuous monitoring will allow the effective development of coastal areas and profit for the country. Independent research conducted by the Scottish Research Forum found no evidence of a negative relationship between aquaculture and recreation. In many cases, aqua farms are of cognitive and gastronomic interest to tourists. The study also does not consider the development of aquaculture to be incompatible with tourism, but on the contrary it is an integrating process. Both industries are important to the economies of the countries, so in every territory where aquaculture and recreation can be mutually beneficial, a balance must be struck between them. The aim of the study is to analyze the specific aspects of aquaculture in Ukraine and in the world. The main objectives of our research are: to explore the role and importance of aspects of the introduction of recreational tourism in aquaculture; to analyze the current state of tourism in the world and its economic indicators; to identify the problems of intensification of recreational tourism in the coastal regions of the world; to offer the own vision of the prospects of integrating aquaculture into recreational tourism. Research methods. To achieve this goal there are used general scientific and special research methods in the work, such as: statistical method is for systematizing economic and statistical information on the development of tourism and aquaculture; methods of analysis and synthesis are for studying the functioning of aquaculture in general and its individual aspects; regional method is for studying the functioning of the industry in regional development; method of economic analysis is implemented in identifying trends, patterns and prospects of tourism and aquaculture.

Abstract: Current circumstances are shaping new conditions for the interaction of entities of society. The COVID- 19 coronavirus pandemic tests the partner relationship between government, business and civil society in the system of their social responsibility for the efficiency and morality. The purpose of the study is to reveal the theoretical foundations of the concept of “social responsibility of the state, business, citizen” as a determining factor of formation, self-organization, self-control, modernization of civil society and analysis of the practice of organizing the social responsibility system of economic entities in the EU and in Ukraine. The subject of the research is social responsibility as a fundamental value of society and social institute of regulation of relations in society for ensuring stability of living conditions. The methodology of the research is based on the set of methods of scientific analysis. In particular, dialectical (when characterizing the categorical apparatus of the subject of study); systemic (when analyzing the relationship of socio-economic processes); statistical method of comparisons and groupings; economic analysis (when processing statistics); historical (in the study of the evolution of corporate social responsibility (CSR) theory and practice); empirical (in the analysis of the practice of forming partnerships between business structures, the state and civil society in the European Union and Ukraine). Conclusions of the study. The concept of “social responsibility” is a fundamental value of society, and the system of social responsibility of its entities is a social good. It can be considered as a social institute of socio-economic relations regulation in order to ensure the stability of society and the development of living conditions. The systematization of scientific approaches to defining the social responsibility of economic entities as a social good made it possible to justify it from the standpoint of a public policy object, a system of ethical values of society, voluntary obligations of business and a way of managing a business entity. Features of the current socio-economic situation require strengthening of their socially responsible behavior, introduction and observance of new forms of interaction between business and society on the principles of systematic and longterm. The innovative model of the economy is raising new demands for socially responsible behavior of public relations entities. Models of its realization have their own peculiarities in every EU country. They are all stimulated by state institutional mechanisms (privileges in taxation, subsidies, control over compliance with social and environmental standards); international standards of doing business; control by the public (social reporting to stakeholders). Such institutional levers stimulate the integration of socially responsible behavior into the development strategy of the business structures. The European experience of forming and provision of social positioning of entrepreneurial activity is being studied in Ukraine and is gradually being implemented. The level of transparency of leading companies activities is increasing, especially those, the activities of which are focused on international markets (agribusinesses, energy and metallurgy companies). The lower level of transparency of such information is inherent for mining companies. Transnational companies operating in Ukraine have a higher level of CSR disclosure than domestic organizations. On their websites, twice as often as on websites of the Ukrainian companies, issues on human rights, CSR programs, policies and goals are covered. As the example of the high level of compliance with the CSR principles may serve the activities of the French-Ukrainian company “Verallia-Ukraine” PJSC ”Consumers-Sklo-Zorya” (Rivne region, Ukraine). Many Ukrainian business entities have not yet integrated CSR into their company management strategy. Further promotion of the CSR concept, activation of institutional, economic and social mechanisms for its implementation, evaluation of the effectiveness of its implementation are needed.

Abstract: The article considers the issues of development of the financial technology market, its opportunities and obstacles, as well as the need and inevitability of the in-troduction of fintech solutions in the financial and credit spheres. The main purpose of the research is to determine the role of fintech services in the state economy, the prospects for their development, as well as to substantiate the trends of adaptation of classical credit institutions and consumers of financial services to new financial tech-nologies at different stages of their development. Systematization of literature sources and approaches to solving the problem of intensifying activities in the field of innovative finance has shown that fintech is a specific cross-sectoral industry, which lies on the border of financial and IT spheres, consists of companies that use technology to improve the efficiency of financial services and encompasses digital innovations and programs that facilitate the creation and implementation of financial products. The urgency of solving this scientific problem is that the market of finan-cial technologies is one of the fastest growing. That is why it highlights the need for traditional financial institutions to digitize their activities through a radical change in the business model in order to strengthen competitive positions and provide strategic advantages. The research of the implementation of financial technologies in the article is carried out in the following logical sequence: systematization of stages of development of the fintech industry; assessment of the development of the fintech sphere in Ukraine in the context of the transition to the stage of integration with the banking system; study of the strengths and weaknesses of domestic banks and fintech companies, outlining obstacles and necessary changes for further digitization of the financial and credit system; research of the process of implementation of fintech services on the example of the technology life cycle model; assessment of the relationship between the level of financial and digital literacy of the population and the depth of promotion of innovative fintech products; identifying ways to increase the financial and digital inclusion of the population of Ukraine. Methods of the empirical, experimental and theoretical levels became the methodological tools of the conducted research. The results were evaluated and analyzed on the basis of surveys conducted in 2017-2019 by the Ukrainian Association of Fintech and Innovative Companies, the Ministry of Digital Transformation of Ukraine, the Ukrainian division of the British audit and consulting company Ernst & Young, and the US Agency for International Development. The article presents the results of an empirical analysis of the relations and interdependence of classical and innovative financial institutions, which showed the inevitability of the processes of digitization of financial services. The study em-pirically confirms and theoretically proves that the favorable development of the fintech industry is based on the following: the level of public awareness in the field of finance and information technology; the level of innovative development of financial institutions and the degree of penetration of the fintech companies in the financial market of the country; completeness of the legal framework.

Abstract: Purpose. The analysis of theoretical concepts of sustainable competitive advantage, the assessment of the competitive advantages of the agricultural sector in the region and identification of the opportunities to provide competitive advantages under conditions of instability as well as a changeable business environment. Results. Two opposite concepts of sustainable competitive advantages’ sources are analyzed. The first one is resource-oriented, the second one – based on the influence of the external environment on the competitive position of the company. It is found out that in modern conditions, the concept based on the resource approach is more adequate for the agrarian sector as the business features in agriculture predetermine the considerable resources’ immobility. In agriculture, due to the specificity of rural settlements, the combination of the basic resources (land, machinery, people) causes a quite rigid configuration that cannot be changed quickly enough. But the resources themselves are not a source of competitive advantage; the ability to use available resources effectively is important. The authors propose a method for comparing the security and efficiency of the basic resources’ usage in agriculture by region. Under the framework of the methods, it was put the index method that allows comparing individual indicators and defining the integral index. The authors used such indicators as energy capacity, tractors and labour resources per one hectare of agricultural land to estimate resource availability. Resource efficiency is characterized by labour productivity indicators (gross production per one average annual employee) and land productivity (gross production per one hectare of agricultural land). The integral indices were calculated based on the geometric mean. There was done the comparative analysis of the provisions of basic resources and the efficiency of their usage by agricultural enterprises of Sumy region, neighbouring regions as well as the average industry indicators based on the proposed methodology. The analysis confirmed the existence of sustainable competitive advantages in the regional context and found that the leading resource is not natural characteristics, but effective management, which provides the highest efficiency of management. Conclusions. Taking into account the rapid changes in the business environment, any competitive advantage can quickly turn from sustainable to unstable. An assessment of the competitive advantages of the agrarian sector in the region has shown that to provide a sustainable position, it is first and foremost necessary to focus on reducing the costs and use innovations. Under conditions of rapid technological change, the main resource is human ones that can produce certain knowledge and innovative solutions. The proposed method of calculation of the integral indicators of resource availability and efficiency of their usage allows evaluating the existence of competitive advantages objectively and can be used both for the development of competitive strategies of agricultural enterprises and the preparation and decision-making at the level of central and regional authorities

Abstract: Modern decentralized technologies, such as distributed registries, blockchain, smart contracts and decentralized autonomous organizations (DAO), are becoming more popular every year. Therefore, the subject of our research, the results of which are presented in this article, is the processes of digitalization in the field of management control and key technologies that allow to organize an effective system of management control in a decentralized organization. The success of management control is determined not only by its ability to identify and correct undesirable deviations in a timely manner, but also by the presence of a special corporate culture based on trust and fairness. Moreover, a positive corporate culture reduces the need for a number of control procedures designed to compensate for the lack of trust within the company. This effect can also be seriously enhanced by modern digitalization technologies. The research methodology included a broad review of literature sources and a comparative analysis of modern concepts of decentralized management, as well as drawing conclusions about promising ways to evolve management control systems. The aim of the study is to identify the impact on management control systems of modern technologies such as blockchain, smart contracts and decentralized autonomous organizations. The authors summarized the experience of applying these technologies in management control systems, which are designed to ensure high individual and team performance to achieve the strategic goals of the company. The conclusion is that the blockchain-based decentralized autonomous organization (DAO) is changing the forms and methods of management control, increasing the role of collective decisions and opening the way for employee initiative. DAO can significantly reduce internal and external transaction costs, including costs associated with the management and operation of management control systems. Different procedures for approval, confirmation and verification, as well as the adoption of standard management decisions are unified and automated. Accordingly, the time and the total amount of effort spent by managers to perform routine actions related to monitoring and control of employees' actions is reduced. Decentralization of control also reduces the impact of administrative procedures and ensures a higher level of trust within the organization. The decentralized model of management control is relevant for various areas of business and management, but special prospects can be seen in the field of decentralized finance (DeFi), where a wide range of professional controllers and users can be involved in auditing smart contracts and identifying shortcomings in financial services.

Abstract: There are the research directions, determined as relevant, such as the issues of innovation activity management of enterprises, identifying the main causes of low innovation activity of domestic companies, improving the innovation activity management system of industrial institutions, which necessitates the formation of a scientific and methodological basis that can realize the ability to describe the process of innovation activity of the enterprises and mechanisms to manage them. These issues are also relevant because in the context of strengthening the course on European integration, the management of domestic enterprises is tasked with identification of the methodological and practical experience of innovative management of the EU countries as soon as possible and harmonization of their policies in accordance with its provisions. The subject of the study is complex research of management of innovative activity of enterprises under self-development. The purposes of the article are a study of the main directions of operation of innovative-active enterprise under self-development; analysis of key indicators of innovation activity of an enterprise; characteristic of the mechanism of innovation activity management of an enterprise in terms of self-development; definition of directions of policy of strengthening of innovation activity with the purpose of increase of efficiency of development of domestic enterprises. To achieve these purposes the following research methods are used: analysis and generalization of theoretical sources and scientific literature; abstract-logical method in the process of theoretical generalizations and formation of conclusions; prognostic and diagnostic; general scientific methods of analysis and synthesis. Results. The article describes the concept of innovation activity of the enterprise and details its main elements. The authors have also formulated the concept of innovative-active enterprise and presented the priority directions of its operation. The basic aspects of improvement of the innovation activity management system of the enterprise under self-development are considered. The key aspects of improving the management system are highlighted: analysis and evaluation of changes in the operation of the enterprise (evaluation of innovation activity); choice of direction of innovative development of the enterprise; development of strategy of innovative operation (definition of priority of directions, their correlation, development of scenarios); control of implementation of the enterprise development strategy. The process of improving the system of management of innovative activity of the enterprise under self-development is presented as a block diagram. The process is considered and the mechanism of innovation activity management is proposed. Practical implications. The article presents the process of managing innovation activity according to the degree of selfdevelopment of the enterprise. The proposed mechanism has practical orientation in forming a set of measures for strategic development of the enterprise. In general, the paper outlines the main tasks for improving the innovation activity management system, the solutions of which will improve the effective functioning of the enterprise.

Abstract: Complex and contradictory processes of modern social transformations and the need to overcome the crisis in the economy require the appropriate influence of the state and a clear system of socio-economic management through the formation and implementation of effective state economic policy The main elements of economic policy are financial and credit, budgetary, scientific and technical, structural, social, investment, agricultural, regional, foreign economic policy The implementation of state economic policy is considered in terms of the relationship between social problems and the state Therefore, the purpose of the article is to study the essence, tools and methods of state economic policy in modern conditions It is also necessary to identify the main risks and features of further development of state economic policy of individual states in a global imbalance and crisis The theoretical part is devoted to the study of the essence of state economic policy, theoretical and practical aspects of its organization in the state, as well as tools that can be used by the state The resulting part is devoted to the consideration of the situation, in which the world economy has found itself in 2020 in the conditions of the economic COVID-19 crisis General forecasts have not provided to individual states because it has been impossible to predict the end of the pandemic and the return of the world to normal life However, it is clear that the world economy has undergone irreversible processes that will synergistically affect different states in different ways The crisis has hit a significant number of industries, including tourism, logistics, hotel business, the crisis has been felt in world markets: oil prices have collapsed, as well as the stock markets Undoubtedly, there are areas with a rapid growth, especially the pharmaceutical industry and retail, online delivery services, IT entertainment and communications industry, information marketing business and education and training services It is likely that the indicators of economic development in the states by the end of the year will be better than the results of the first half of the year The basic forecast of economic world development assumes a sharp growth of the economy after a short recession after quarantine The financial capabilities of the EU states vary considerably, but each state must pursue counter-cyclical policies aimed at stabilizing its own economy The answer to the question of what kind of crisis response policy they can afford depends on the fiscal policy of the states before the crisis In economically developed states, where emergency measures have been introduced, governments and central banks issue trillions of dollars in government spending, social support of citizens, and interest-free business loans to limit the economic damage of quarantine At the same time, in Latin America and Southeast Asia, total quarantine is impossible in multi-million cities Such states have a triple effect of suffering from the virus, the environment and poverty States dependent on the export of natural resources and raw materials, when faced with the crisis, are forced to sell them for nothing, so they will suffer great losses More than 150 states have set up anti-crisis headquarters and are taking anti-crisis measures The authors have also tried to predict how large scale the global economic crisis will be for Ukraine, what consequences await it, and what measures need to be taken to overcome it

Abstract: The purpose and tasks of the paper are to develop effective tools for the internal control at audit firms, including monitoring and self-assessment, to improve the quality of professional performance. The relevance of this study is determined by the high expectations of society to the quality of audit opinions. The information quality according to the results of the audit is achieved by adhering to strict professional standards and ethical conduct. Audit companies organize control over the implementation of ethical principles, which requires addressing issues of monitoring and self-assessment in the management of ethics. Methodology. The authors used deductive and empirical methods. The material for the development of conclusions on the organization of monitoring is collected upon the results of a survey of 150 auditors, accountants and managers of companies. 96 full responses (64% of all respondents) were evaluated by five experts. The questions in the survey are designed to identify the audit experience of the ethics internal control organization in audit companies, and the results of its compliance assessment. Automated application capabilities of analysis and modeling of the program “1-C Accounting 8.0” were used for data processing. Results. The authors propose the auditors’ compliance with ethical testing standards and calculations of the effectiveness indicators of the ethical values compliance as tools for assessing. The authors see the organization of such an element of internal control in the need to formulate clear ultimate goals for auditors. As goals need to be measured, the following criteria for assessing their achievement are proposed: ethical values are known and adhered to; senior management is aware of the ethical foundations and they serve as an example; staff understands and adheres to the code of conduct; active promotion of ethical principles by senior management. The authors conclude that ensuring leadership of senior management, both by example and in behavior is an important component of the implementation of organizational measures for ethical behavior. If such an ethical manner in the behavior of the company’s management is achieved, it is an important positive contribution to the organization of the ethical behavior management: employees trust and feel confident in management decisions. Practical implications. Achieving the goals of managing ethical behavior of senior management can be recognized by the following criteria: senior management is recognized by co-workers as an example of high standards of behavior, willingness of senior management to be leaders in these issues and take action on misconduct, understanding individual and collective responsibility for compliance with high ethical standards. The implementation of objectives and organizational measures will achieve the defined criteria by monitoring the behavior of auditors on compliance with ethical standards. Taking into account the experience of audit companies, revealed during the survey, the authors propose to organize the monitoring of ethical behavior as an open, honest and transparent process. The awareness of all employees and ensuring confidence in its conclusions and results are the conditions for its establishment. According to the authors, the abovementioned is achieved through the availability of annual reports, regular assessment of the strengths and weaknesses of audit behavior, dissemination of information on the example of senior management in ethical behavior, staff awareness of the value of monitoring ethical behavior and their participation in annual surveys. Value/originality. The authors propose criteria for monitoring and self-assessment: incentives for all employees for good conduct, application of incentives and sanctions to overcome immoral acts, informing employees, effectiveness of incentives taking into account the specifics of high ethical culture of the audit company. The proposed measures will strengthen the elements of the internal quality control system and can be used in external evaluation of the quality of the audit company’s activities. Implementation of proposals can lead to the organization of audit work on a high quality, responsible basis, which can increase the trust of users in the results of audit activity.

Abstract: The main results of the research, which consist in determining the essence and features of the infrastructure provision of the agrarian market in the globalized environment, are formed. The priority of approaches in the development of logistics activities in the context of guaranteeing food security of regions and countries of the world is determined. The essence of the logistic process, strengthening the influence of the global market on the quality of agrarian products, is determined. The influence of the infrastructure provision of the agrarian market on the competitive positions of commodity producers is generalized, advantages and disadvantages in development are determined. The essence of informational logistics, its influence on the development of infrastructure provision of agricultural products market, satisfaction of consumers’ needs is investigated. The urgency of the introduction of e-commerce, which allows commodity producers to combine marketing activities with optimization of advertising costs, to ensure the efficiency and convenience of carrying out operations for the sale of agricultural products, its transportation, manage all logistics processes. It is proved that improvement of the infrastructure provision of the agrarian market of the world countries that adapts to the global market should be based on the dissemination of information opportunities, and the interaction of all participants in the process of selling agricultural products on an e-commerce basis, i.e. on cooperation of the network of producers, banking institutions, Internet providers, supermarket chains, processing enterprises, including export-oriented agricultural products, as well as regional representatives of state authorities. The combination of actions and systematical implementation of the logistical approach will reduce the level of information, production, business risks, as well as significantly increase the export opportunities of producers of agrarian products, especially in the context of the urgency of the issue of ensuring food security of the world, its regions and countries. It is stipulated that in the global market the solution of a problem should have a wide range of actions that should be directed at the ordering of economic, social and environmental interests of the world society. It is proved that improvement of the infrastructure provision of the agrarian market should be a matter of food safety and availability, considering the need to level out obvious and hidden hunger, and not only the spread of innovative technologies of production and the receipt of super-profits.

Abstract: The purpose of this article is to deepen the analysis of theoretical and practical foundations of pension insurance for rural population, to substantiate its further reform and development. Theoretical aspects of pension insurance have been analyzed according to different scientific opinions of both the Ukrainian and foreign scientists, according to which pension insurance is considered a difficult category, and the diversity of its interpretation means that it has not been fully disclosed yet and remains the subject of research. Method. In most countries of the world, the same problems of the pension system as in our country have arisen. But thanks to pension reform, they have achieved successful results. Each country chose its own way of building a pension system based on its own demographic and socio-economic characteristics. However, despite this, the main task of any pension system is to protect against poverty and to provide a pension that can guarantee a decent standard of living for a pensioner. It is proved that to carry out effective pension protection policy in the country it is necessary to continue to study the essence of the concept of "pension insurance", as well as it is important and urgent to find ways to improve the reliability and effectiveness of mechanisms for ensuring the implementation of social guarantees in the pension insurance system. It is noted that insurance came about when humanity realized the danger that the environment hides. With regard to pension insurance, its formation took place in the context of the development of the entire insurance system. Results. The Ukrainian scholars in the field of pensions, exploring the nature and concept of pension insurance at the current stage of development, have determined that pension insurance is based on two important principles: the principle of solidarity and the principle of personal responsibility, also scientists focus on the principles put forward by the works on social protection of the population by the International Labour Organization, which are defined in the adopted Conventions of this organization. Value/originality. Analyzing the theoretical nature of pension insurance, one can determine that the essence of the social nature of pension insurance lies in the social protection of persons who have reached retirement age due to disability or loss of a breadwinner, pension insurance provides social security with minimal social security, approved by the International Labour Organization for the payment of pensions. Retirement insurance is also considered to be a complex category, and its diversity of treatment means that it is has not fully disclosed yet and remains a subject of study.

Abstract: Assets are the key factor in the financial well-being of a business (the financial health of a business). Their composition and efficiency of use directly influence the end result of the enterprise's economic activity. Effective asset management can improve financial sustainability and increase the competitiveness of an enterprise. Therefore, in order to ensure financial sustainability and competitive advantage in the long run, it is necessary to address the challenge of continuous improvement in asset management. Financial analysis is an important tool for substantiating and controlling asset use decisions. As the turnover and return on assets depend to a large extent on the particularities of the industry and the conditions of business, the means of financial analysis must be tailored to specific situations. Therefore, the issues of improving the methods of financial analysis that would take into account the peculiarities of the activity of the enterprise are urgent. The purpose of this study is to substantiate a methodological approach to the analysis of asset utilization of Ukrainian bakeries. The methodological basis of this study is a system-based approach to solving the problems of analytical asset management. In generalizing the methodological principles of financial analysis of asset management effectiveness, techniques of abstract-logical method are used, namely: analysis and synthesis, induction and deduction, analogy and comparison. There were used methods of average and relative values, methods of modeling and factor analysis to make all the calculations; they were used to establish the relationship between the systems of financial indicators of asset efficiency. The calculation of the indicators of profitability and asset utilization in turnover was made according to the financial statements of Ukrainian bakeries. Asset management is aimed at increasing the efficiency of their use, the main generalization of which is the return on assets. The need to improve the methodology for analyzing the return on assets is due to the limited use of this indicator in the analysis of unprofitable enterprises on the one hand, and, on the other hand, to the need to take into account the specifics of the industry where the enterprise operates. Under conditions of loss, the asset return indicator distorted reflects the impact of its change factors, and industry features are reflected in different turnover rates of individual components of assets, and accordingly, in different intensity of their impact on profitability. The proposed approach is based on a multifactorial model that reflects the dependence of the asset on return to sales, non-current assets to sales, inventory to sales, accounts receivable to sales and cash assets to sales. The model determines the intensity of the impact on the return on assets of the partial indicators of the assets to sales. The calculations were made by a group of bakeries from different regions of Ukraine. As a criterion for assessing the effectiveness of asset management, it is proposed to use the average growth rate of partial indicators of the model of return on assets, which is determined taking into account the intensity of their impact. The specifics of the approach are more focused not on absolute indicators, but on indicators of dynamics, on the identification of trends. The advantage of the proposed indicator is the ease of interpretation, especially for the case of loss-making, which is peculiar for one third of the enterprises of the industry.