Scientific Notes of Ostroh Academy National University, Economics Series
Thematic orientation - the studies in the field of economics. Sientific journal reveals topical issues of economic theory, national economy management, management of sectors and enterprises, labor economics and regional economy, finance, monetary circulation and credit, accounting, analysis and audit, mathematical modeling and information technologies in economics. The materials will be useful for scientists, teachers, economists-practitioners, students.
Національний університет "Острозька академія"
APPLICATION OF GROUP CLASSIFICATION OF ONE CLASS OF QUASILINEAR EQUATIONS WITH RESPECT TO LIE ALGEBRAS OF DIMENSION NOT HIGHER THAN THREE IN THE RESEARCH OF CONSUMER BEHAVIOR
This paper presents the group classification of a specific class of second-order quasilinear hyperbolic equations with two independent variables, focusing on non-decomposable, solvable, three-dimensional Lie algebras. This class of equations can be seen as a broad generalization of the nonlinear d’Alembert, Liouville, sine-Gordon, and Tzitzeica equations. The theoretical foundation of this work dates back to Sophus Lie, who pioneered the group analysis of differential equations, establishing that the principal classifying features of such equations are their symmetry properties. Accordingly, this research provides a complete description of the equations invariant under such algebras, along with their specific realizations. The study demonstrates the direct applicability of this mathematical framework to the modeling of consumer behavior. The central premise is that the group symmetries and invariance found in the equations correspond to the relative stability of consumer behavior patterns, even amidst a changing marketing environment. By identifying these invariant characteristics, researchers can uncover fundamental trends that are not immediately apparent. The use of symmetries enables the simplification of complex consumer behavior models by reducing the number of variables, thereby enhancing their interpretability. To perform the classification, the study employed modern symbolic computation tools, specifically Mathematica packages, to automate the process. The findings have practical significance for marketing research, offering applications in consumer profiling, campaign effectiveness evaluation, and the identification of key factors that influence purchasing behavior.
Mathematical modeling and information technologies in economics
quasilinear equations of hyperbolic type, three-dimensional Lie algebra, consumer behavior, classification algorithms, symbolic computation
AN ALGORITHMIC APPROACH TO TAX MONITORING IN THE JEWELRY SECTOR OF UKRAINE
This research focuses on developing an algorithmic approach to tax monitoring within the jewelry sector of Ukraine, an industry characterized by a high level of tax risk. As traditional methods of tax control have proven ineffective, the development of tools that integrate tax compliance with tax optimization is highly relevant. The study aims to develop an algorithmic model for tax monitoring that considers the impact of an enterprise’s accounting policies on its tax liabilities. The primary objectives are to strengthen tax compliance and mitigate tax risks. The research methodology involves the analysis of accounting and tax data and the modeling of financial results based on different accounting policy assumptions. The study has developed specific algorithms to verify the integrity of merchandise balances, ensure the compliance of fiscal reports with sales data, and confirm the correct accrual of Value Added Tax (VAT) and proper product identification. A key algorithm models the cost of goods sold using various methods, enabling the selection of the most tax-optimal option within the enterprise’s existing accounting policy. Testing of the algorithms on simulated data has demonstrated their effectiveness in identifying typical tax violations. For maximum efficiency, it is recommended that these algorithmic solutions be integrated into an enterprise’s internal control system. This integration would facilitate the continuous monitoring of tax transactions, the assessment of tax risks, the adjustment of accounting policies, and streamlined interaction with regulatory authorities. Future research will focus on adapting the developed algorithms to new tax regulations, penalty structures, and evolving accounting policies.
tax monitoring, compliance, tax optimization, algorithmization, accounting policy, modeling
DIGITAL TRANSFORMATION OF ANALYTICAL AND FORECASTING TOOLS IN FINANCIAL ACCOUNTING: CHALLENGES, OPPORTUNITIES, AND DEVELOPMENT PROSPECTS
This article examines the digital transformation of financial accounting, focusing on its shift from a historical recording function to a predictive and strategic tool for modern business management. Driven by technological change and economic volatility, this transition requires integrating analytical and forecasting tools. The study explores the challenges and opportunities of adopting artificial intelligence, machine learning, and big data. Using analytical and comparative methods, the research reveals a fundamental shift from traditional spreadsheet models to integrated cloud platforms and AI-driven solutions. Machine learning algorithms enhance the accuracy of cash flow, profitability, and liquidity forecasts, while advanced visualization tools improve the communication of financial insights. The study also highlights the role of integrated ERP and business intelligence systems in creating a unified digital ecosystem for real-time control and planning, thereby enhancing strategic resilience. The article emphasizes that the human factor is critical; the success of this transformation hinges on the digital literacy and analytical skills of accounting professionals, necessitating continuous training. Ethical considerations, including algorithmic transparency and the prevention of bias, are also addressed. The authors conclude that this transformation is a profound cultural and organizational shift, identifying future research directions in adaptive analytical models and hybrid decision-support systems.
financial accounting, digital transformation, forecasting, analytical tools, artificial intelligence
KEY INDICATORS OF FINANCIAL RESTRUCTURING OF DEBT OF ECONOMIC ENTITIES
This article examines the need for the timely diagnosis of potential insolvency threats facing business entities. It proposes a system of key indicators to signal the need for financial debt restructuring, indicating a critical financial condition associated with the inability to fulfill monetary obligations. This system includes absolute and relative indicators, along with algorithms for their calculation, interpretation, and recommended values. The study notes that recommended values must be differentiated by industry, an issue not yet addressed in national methodologies approved by Ukrainian executive authorities. Furthermore, there is a long-standing need to unify analytical indicators (e.g., terminology, formulas) for corporate and statistical reporting. Addressing this is particularly important for Ukraine’s post-war restoration to activate investment activities. The research investigates the functional relationship between the ratios of short-term debt burden to sales, total assets, and the ability of assets to generate economic benefits. An imbalance in these ratios threatens business continuity, leading to the potential need for debt restructuring. The proposed system of indicators is tested across various economic activities, making it possible to identify their functional dependencies, critical points, and impact on the potential need for financial debt restructuring.
financial restructuring, debtor debt, client insolvency, banking institutions, indicators of possible debt restructuring
THE ROLE OF TAX CONSULTANTS IN SHAPING TAX CULTURE IN EU COUNTRIES: LESSONS FOR UKRAINE
This article analyzes the professional activities of tax advisors in EU countries, highlighting their role as key intermediaries between taxpayers and tax authorities. The study establishes that tax consulting and tax culture in the EU are interrelated components of an effective state tax policy. The article underscores the state’s significant role in shaping the institution of tax consulting, noting that in most EU countries, the profession is subject to licensing or certification to ensure high-quality services. Key approaches to regulating the activities of independent tax advisors are also outlined. In contrast, the article notes that while the profession of tax advisor in Ukraine is not legislatively regulated as it is in the EU, it is actively developing within the private sector. Furthermore, the study finds that cooperation between tax consultants and tax authorities varies in form, depending on national legislation, levels of trust, and institutional characteristics. The authors identify the specific features of the current tax culture in various EU countries and the role tax consultants play in shaping it. Finally, the article identifies how the EU’s experience can be applied to develop the institution of tax consulting in Ukraine. Adopting these lessons is expected to improve the quality of tax support, reduce the shadow economy, and enhance the overall tax culture.
Finance, monetary circulation and credit
tax culture, tax consultants, taxpayers, tax relations, European Union, tax authorities, tax legislation
CUSTOMS REFORM: MAIN PRINCIPLES, CHALLENGES AND TASKS IN CURRENT CONDITIONS
This article analyzes the functioning and development of the customs system in Ukraine in the contemporary environment. It examines the principles guiding the evolution of the powers of customs control authorities, including their designated tasks and their role under modern conditions. The study reviews recent legislative acts adopted by the Verkhovna Rada of Ukraine, emphasizing the significance of national legislation in introducing new standards for customs formalities and control for goods and vehicles crossing the customs border. Principles for improving customs policy and coordinating its implementation are considered, with the aim of achieving greater transparency and simplicity in border crossing procedures for goods and vehicles. The article demonstrates the importance of foundational principles in customs policy, such as publicity and public access to the results of customs authorities’ work, information on customs rule violations, and the imposition of penalties under current legislation. In light of global economic changes and the growth of cross-border cooperation, directions for improving the customs system are proposed. These aim to increase the efficiency and transparency of customs formalities and control processes. Ultimately, the research is conducted to develop practical strategies and mechanisms that can improve the coordination of customs authorities and help prevent customs violations.
customs policy, customs system, customs rules, customs payments and fees, customs control, AEO, customs broker
TRANSFORMATION OF COMMUNICATION CHANNELS IN THE FINTECH SECTOR OF UKRAINE
This article explores the transformation of communication channels in Ukraine’s FinTech sector amid the global digitalization of financial services. It traces the evolution of bank-client interaction from physical branches to digital solutions like mobile applications, internet banking, and AI-powered chatbots. The shift to digital channels has been driven by customer expectations for 24/7 service, competition from FinTech startups, and accelerated digital adoption during the COVID-19 pandemic. The article pays special attention to the implementation of artificial intelligence, big data analytics, blockchain, and smart contracts, highlighting their opportunities and limitations. The findings demonstrate that automating up to 85% of routine requests significantly increases operational efficiency, reduces costs, and enhances customer satisfaction. Ukrainian banks, including PrivatBank and Oschadbank, have integrated large-scale digital tools, while FinTech companies are expanding innovative solutions in payments, online lending, and personalized financial management. The study also addresses challenges such as complex smart contract development, cybersecurity threats, and the lack of comprehensive regulatory standards. Ukraine demonstrates rapid FinTech growth, with the number of companies nearly tripling between 2019 and 2024, supported by high IT potential and consumer readiness for innovation. The article concludes that digital transformation is no longer experimental but is now the standard for financial communication. For Ukrainian institutions, this transition is essential for strengthening competitiveness, ensuring financial inclusion, and integrating into the global financial ecosystem.
FinTech; communication channels; digital transformation; chatbots; blockchain
FINANCIAL MANAGEMENT OF AN ENTERPRISE’S BUSINESS ACTIVITIES
The article argues that in conditions of martial law and unstable external business conditions, the level of enterprise business activity is diminished, a phenomenon clearly confirmed by the ineffective formation and use of resources. Therefore, to identify ways to increase business activity, it is necessary to study its essential characteristics and influencing factors, which will enable the selection of the most effective management decisions. The authors study the economic essence of an enterprise’s business activity as a complex characteristic of its state, reflecting its ability to effectively use available resources by ensuring high capital turnover to achieve competitiveness and leadership in various markets. The key properties underlying the identification of reserves for its improvement and the development of management decisions are identified. In particular, the main characteristics of an enterprise’s business activity include: stable market positions; the availability of regular and solvent suppliers and buyers; stable growth rates of production and sales volumes; low balances of finished products and production stocks; a sufficient level of business and product competitiveness; high product demand; and increasing market share. Given these essential characteristics, the role of business activity in specific operational areas is highlighted. The authors systematize the factors influencing an enterprise’s business activity, as understanding their essence makes it possible to reduce risks and threats and achieve efficiency in resource utilization. It is noted that an enterprise’s business activity changes under the influence of internal and external factors, mainly related to changes in the volume of production and sales. The essence and main tasks of managing an enterprise’s business activity are outlined. Structural elements of the financial mechanism for managing business activity and key management decisions aimed at improving it are proposed. Identifying the structural elements of this financial mechanism allows for the identification of financial methods, levers, and instruments, as well as the development of management decisions aimed at ensuring and increasing an enterprise’s business activity in the face of new challenges.
business activity of an enterprise, competitiveness, capital turnover, financial management, financial mechanism
INSTITUTIONAL APPROACH TO ENSURING FINANCIAL STABILITY OF THE STOCK MARKET
Stock market volatility is a fundamental characteristic that necessitates the application of corrective, balancing, and preventive mechanisms to preclude the spread of shocks from the market to the broader economy. It is crucial to emphasize that ensuring the financial stability of the stock market should not be viewed as a mechanism to simply block its inherent volatility. Instead, the objective should be the strategic application of methods, instruments, and levers of influence that, in aggregate, contribute to maximizing the market’s functional effectiveness and its positive impact on the country’s economic development, fully acknowledging its dynamic nature. The purpose of this research is to develop a comprehensive scientific framework for ensuring the financial stability of the stock market through a robust institutional approach. Based on a functional methodology, the study identifies the primary subjects within the institutional framework for stock market financial stability. These include entities involved in legislative and regulatory activities, analytical and forecasting operations, professional infrastructure, institutional investors, and consumers of investment financial services. The article reveals the specific channels through which these actors exert their influence on market stability. The institutional framework for stock market financial stability is structured into formal and informal components. The research identifies several specific sub-institutions: the institution of values, the institution of trust, the institution of rule-making, the institution of regulation and supervision, the institution of financial culture, and the institution of financial stability of institutional investors. The study substantiates the profound influence of both formal and informal institutions on the overall effectiveness of ensuring market stability, also revealing how financial culture institutionally influences this stability through its interrelationship with the institutions of values, trust, and investor stability. Furthermore, a critical analysis of scientific and pragmatic approaches to the typology of institutional investors is conducted. The study demonstrates that, for the purpose of analyzing their influence on market stability, investors should be categorized by their significance into three groups: those of public interest, systemically important institutions, and other institutional investors. Through a detailed comparative analysis, the substantive differences between systemically important and public-interest institutional investors are highlighted. Finally, the specific tasks required of institutional investors for ensuring financial stability are decomposed within the contexts of rule-making, regulation, supervision, and their own institutional financial health.
financial stability, stock market, institutional investors, institution of stock market financial stability
FINANCIAL RESILIENCE OF UKRAINIAN ENTERPRISES UNDER EXTERNAL SHOCKS
This article investigates the impact of three major external shocks–the 2014 conflict, the 2020 COVID-19 pandemic, and the 2022 full-scale war–on the financial resilience of Ukrainian enterprises from 2013 to 2023. Using data from the State Statistics Service of Ukraine, the study employs comparative, cluster, and sectoral analysis to assess financial resilience, which is measured by the leverage ratio. The findings confirm that all three shocks negatively affected financial stability, with significant sectoral and size-specific differences. Agriculture and mining showed relative adaptability, whereas manufacturing, trade, and construction were highly vulnerable. Large enterprises demonstrated greater stability due to better access to financial resources, while small enterprises were the most exposed to risks. The study also identifies a time lag of at least one year in enterprises’ responses to shocks. It is recommended that enterprises develop financial strategies that integrate national and international support mechanisms. Key recommendations include leveraging state guarantees, international financing, tax incentives, and grant programs to reduce capital costs and diversify financial sources. A sector-specific adaptation of these support instruments is advised to promote modernization, digitalization, and sustainable development.
financial resilience; external shocks; financial leverage; sectoral differences; financial strategy
FORMATION OF ENTERPRISE PERSONNEL POLICY UNDER MARTIAL LAW
The article investigates the principles and approaches to forming an enterprise’s personnel policy under martial law, using both historical and contemporary examples. The research emphasizes the importance of a flexible, proactive, and socially responsible HR strategy in times of crisis. Personnel management during wartime plays a crucial role not only in ensuring business continuity but also in preserving the mental health, motivation, and professional development of employees under extreme stress and uncertainty. The study provides a comparative analysis of historical models of HR policy under wartime conditions in countries such as the USSR, the UK, the USA, and Israel. These cases illustrate a variety of mobilization practices, from centralized workforce planning and compulsory labor laws to rapid training and civilian integration into military industries. Furthermore, the article explores the Ukrainian experience during the current full-scale war, focusing on adaptive HR practices employed by leading national companies such as Ukrzaliznytsia, Nova Poshta, ATB, and IT corporations. These enterprises have demonstrated resilience through digital transformation, employee relocation, mental health support, and emergency retraining programs. Moreover, the article highlights international corporate practices from Nestlé, Toyota, and McDonald’s, showcasing crisis-oriented personnel policies during conflicts and natural disasters. Based on this analysis, the author proposes a set of recommendations for forming an effective personnel policy under martial law, including psychological support mechanisms, the use of digital HR tools, strategic workforce planning, flexible employment formats, and investment in employee learning. The study underlines that the ability to manage human capital effectively during wartime is a fundamental component of enterprise survival and national recovery.
personnel policy, martial law, human resources management, enterprise, adaptation
MODERN TRENDS AND THE ROLE OF DIGITAL TECHNOLOGY MANAGEMENT IN COMPANY BRAND DEVELOPMENT
This article examines the essence of digital technology management, modern market trends, and their application in developing a company’s brand in the contemporary business environment. It provides an in-depth analysis of modern trends in digital business transformation, showing how they help build brand recognition, loyalty, and trust–critically important elements in a competitive market. The key stages of digital technology management are identified, including implementing innovative solutions, systematically analyzing their effectiveness, and constantly optimizing digital tools to achieve optimal results. The article highlights the significance of using various digital tools–such as analytical platforms, marketing technologies, blockchain, Big Data and analytics, machine learning, chatbots, CRM systems, the Internet of Things, and artificial intelligence–at each management stage to ensure process integrity. It is argued that digital technology management is a multi-stage process involving systematic implementation, analysis, and optimization aimed at effective brand positioning. The main ways digital tools influence a brand are systematized, showing their role in strengthening business capitalization, increasing competitiveness, forming sustainable partnerships, and enhancing market value. Applying these methods allows companies to adapt to changing market conditions and strategically develop the long-term value of their brand, ensuring future stability and growth.
Economics, management of sectors and enterprises
digital technologies, company brand, business model, digital technology management, stages and directions of digital technology management, innovations, business capitalization
GLOBAL EXPERIENCE IN THE MANAGEMENT SYSTEMS OF URBAN TRANSPORT ENTERPRISES
Modern cities face significant challenges related to increasing urbanization, road network congestion, and the negative environmental impact of transport. Consequently, studying the global experience in managing urban transport enterprises is crucial for shaping an efficient, safe, and sustainable transport system in Ukraine. Despite existing scientific research, Ukrainian practice still lacks a comprehensive management model that effectively combines economic efficiency, social accessibility, and environmental sustainability. The purpose of this article is to analyze the global experience of managing urban transport enterprises and identify possibilities for its practical application in Ukraine. The research focuses on the organizational, economic, financial, and innovative mechanisms governing the functioning of these systems in leading countries. The methodological basis of the study includes a comparative analysis of European, American, and Asian management models; a systemic approach to the transport system as a multi-level structure; empirical methods using statistical data on enterprise efficiency; and expert evaluations to determine the feasibility of adapting foreign experience to Ukrainian conditions. The analysis reveals that effective management of urban transport enterprises, based on global experience, relies on integrating different modes of transport, extensively using digital technologies, developing environmentally friendly infrastructure, and applying public-private partnerships. Based on these findings, key recommendations for Ukraine are developed, including the implementation of a unified transport operator model, the creation of favorable conditions for attracting investment, and the development of innovative “smart mobility” solutions. The practical implementation of these measures will contribute to improving the quality of transport services, reducing environmental impact, and integrating Ukrainian cities into the European space of sustainable development.
urban transport, management, innovative technologies, digitalization, transport infrastructure
MODELING DIGITAL TWINS OF BUSINESS PROCESSES AS A TOOL FOR MANAGING COMPANY EFFICIENCY
This article examines the concept of digital twins of business processes as a modern tool for enhancing company management efficiency. The relevance of using digital twins is justified within the context of digital transformation, as traditional methods for modeling and optimizing business processes no longer provide the required level of flexibility and adaptability to rapid changes in the external environment. A digital twin of a business process is defined as a dynamic virtual model of a real organizational process that integrates data from ERP and CRM systems, Internet of Things (IoT) technologies, cloud platforms, analytics tools, and artificial intelligence. This study shows that digital twins combine modeling, forecasting, and analytical tools, enabling companies to quickly assess process status, predict the consequences of management decisions, and adapt to changes in internal and external environments. The advantages of applying digital twins in management systems are analyzed, including scenario forecasting, bottleneck identification, resource optimization, operational cost reduction, and increased productivity. The role of digital twins in improving the accuracy of managerial decisions is highlighted, as they allow for evaluating the economic effect of implementing innovations prior to their practical application. The methodological approach to modeling digital twins is described, which includes data collection and integration, the development of virtual models, and the use of artificial intelligence algorithms for scenario analysis. Consequently, digital twins serve as a tool for reducing risk and increasing business resilience under conditions of uncertainty and dynamic markets. Examples of potential applications for digital twins of business processes in various sectors, including manufacturing, logistics, finance, agriculture, and education, are provided. The study explains how digital twins can be used to optimize supply chains, plan resources, manage projects, and improve interdepartmental efficiency. The implementation of digital twins is identified as a strategic step toward forming adaptive and competitive companies capable of effectively responding to the challenges of the digital economy.
business process modeling, company efficiency, digital twins, business process optimization, digital transformation
EFFECTIVE MANAGEMENT OF PROJECT TEAMS BASED ON INNOVATIVE METHODS AND SELF-MANAGEMENT IN THE CONDITIONS OF SUSTAINABLE ECONOMIC DEVELOPMENT
This article explores innovative approaches to project team management within a dynamic economy. It begins by analyzing scientific perspectives on the “project team” concept to formulate a generalized definition. The research substantiates the need to transition from traditional management models toward innovative, flexible methodologies like Agile, Scrum, and Kanban, which enhance team adaptability and productivity. Modern approaches to team formation are also considered, emphasizing team self-organization, with the project manager acting as a coordinator rather than a traditional controller. Particular attention is given to the role of self-management as a key factor in effective team interaction, encompassing skills such as time management, goal setting, self-organization, and accountability. The article proposes parameters for assessing the levels of innovation and self-management among team members. These metrics can be used by project managers during team selection, performance monitoring, and the development of the team’s motivational profile. Accordingly, project managers should prioritize team members who demonstrate creativity, cognitive flexibility, initiative, openness to innovation, determination, and a capacity for self-learning. Furthermore, a comparative analysis of innovative and traditional approaches is conducted across several criteria: team organization, management style, leadership role, communication, flexibility, motivation, performance assessment, and responsiveness to change. This comparison leads to conclusions about the optimal contexts and project types for each approach. Finally, the article proposes a comprehensive algorithm for effective project team management. This framework involves several stages: strategic planning; team formation based on member potential; selection of an adaptive management model that integrates innovative and traditional elements; cultivation of self-management skills; digitalization of work processes with modern digital tools; and regular evaluation of results to develop future action plans.
project management, Agile, Scrum, project team, self-management
FINANCIAL COMPLIANCE AS A DRIVER OF CUSTOMER LOYALTY AND SUSTAINABLE DEVELOPMENT IN THE DIGITAL ECONOMY
In the digital economy, financial compliance is transforming from a formal regulatory instrument into a strategic resource that fosters customer loyalty and sustainable development. The relevance of this study is driven by the strengthening of international standards (GDPR, AML, ESG), the growing role of FinTech and RegTech, and the increasing need for companies to enhance transparency and customer trust. The purpose of the article is to analyze financial compliance as a driver of customer loyalty and sustainable development in the context of digitalization. The objectives include examining the role of RegTech solutions, the integration of ESG principles, and their impact on corporate reputation and competitiveness. The research is based on the analysis of academic literature, empirical data, consulting reports (KPMG, The Business Research Company), and case studies of international and Ukrainian financial institutions (N26, PrivatBank, ING). A systemic approach is applied to assess the interrelation between compliance, technologies, and customer experience. Financial compliance, supported by RegTech technologies (AI, blockchain), reduces data processing time by 40-50% and increases customer loyalty by 60% through the optimization of KYC/AML procedures. The integration of ESG principles contributes to a 20% reduction in customer complaints and growth in NPS (e.g., ING: +4-10 points). Practical cases confirm that compliance strengthens corporate reputation and competitiveness. Financial compliance in the digital economy is not only a tool for regulatory conformity but also a strategic resource that builds trust, transparency, and business sustainability. It is recommended to integrate compliance into marketing strategies to strengthen competitive positioning. Future research prospects include the development of methodologies for assessing the impact of compliance on customer loyalty and the analysis of industry-specific differences in its implementation.
financial compliance, customer loyalty, sustainable development, digital economy, ESG criteria, RegTech, risk management, transparency, customer trust
METHODS OF FORECASTING THE SALE OF METAL PRODUCTS ON LOCAL MARKETS AS A COMPONENT OF THE ENTERPRISES’ ECONOMIC SECURITY
The article investigates forecasting methods for the sales of metallurgical products in local markets, with an emphasis on their role in strengthening the economic security of enterprises. This problem is especially relevant for Ukrainian metallurgical companies, which face increasing global competition, market volatility, and the need to adapt production and sales strategies to unstable local demand. Reliable sales forecasting is a prerequisite for efficient resource allocation, production planning, and building resilience in uncertain environments. The aim of the study is to determine the most effective models for forecasting the sales dynamics of metallurgical products in local markets. For this purpose, four forecasting approaches were evaluated: Simple Moving Averages (SMA), Classical Seasonal Decomposition (CSD), Seasonal Autoregressive Integrated Moving Average (SARIMA), and its extension with exogenous variables (SARIMAX). The empirical analysis was based on an anonymized dataset covering a 57-month period, which enabled the detection of seasonal patterns and the assessment of forecasting accuracy. The results demonstrate that different models provide varying levels of precision depending on the characteristics of the data. On average, the forecasting error measured by Mean Absolute Percentage Error (MAPE) for a 9-month horizon amounted to 0.2403 for SMA, 0.2308 for CSD, 0.2174 for SARIMA, and 0.2074 for SARIMAX. Thus, SARIMAX proved to be the most accurate model, while SMA, despite its simplicity and minimal data requirements, showed higher errors and a systematic lag in capturing seasonal changes. CSD performed well for product categories with strong seasonal demand, whereas SARIMA and SARIMAX provided robust results across both short- and medium-term horizons, with SARIMAX offering additional benefits from incorporating exogenous factors. The study concludes that no single model is universally optimal, and the choice should depend on data availability, the presence of seasonality, and the planning horizon. Nevertheless, SARIMAX can be considered the most promising method for practical application, offering the lowest forecast errors and the highest adaptability to complex market conditions. The findings contribute to improving sales forecasting practices and provide a methodological basis for enhancing the economic security of metallurgical enterprises operating in local markets.
forecasting, economic security, time series, metallurgy
TRANSFORMATION OF SMALL AND MEDIUM-SIZED BUSINESSES IN THE USA
This study analyzes the development of small and medium-sized businesses (SMBs) in the United States over the period 2015–2024. It provides statistical data on the number of small firms in the U.S., their contribution to GDP (43.5%) and employment (45.9% of the private sector workforce), as well as their historical role in creating jobs. The research notes that small firms created approximately nine out of every ten new net jobs between March 2023 and March 2024. The role of SMBs in job creation is examined, with a special emphasis on the growth of the “Gig economy” and the number of non-employer firms. The distribution of small and medium-sized enterprises by sector is studied, demonstrating the dominance of service-oriented industries such as professional, scientific, and technical services, transportation, and construction. The article investigates the impact of the COVID-19 pandemic, government support through the Paycheck Protection Program (PPP), supply chain crises, and trade tariffs. It notes the devastating financial fragility of many SMBs during the pandemic, as the median firm possessed cash reserves for only two weeks. The subsequent effectiveness of the PPP in preserving jobs and business viability is also highlighted. The cumulative effect of these challenges is examined, emphasizing that policy responses must be systemic rather than isolated. It is shown how these challenges have prompted a fundamental shift toward a focus on supply chain resilience, which is identified as a key trend for the future of SMBs. The article concludes that small and medium-sized enterprises are changing their strategies, prioritizing security and diversification over cost minimization, and fundamentally altering their operational logic in response to a complex and unstable business environment. This new emphasis on resilience is identified as a critical factor for small businesses to remain competitive and sustainable in the coming years.
small and medium businesses, USA, gig economy, supply chains, trade tariffs
LEADERSHIP AND CORPORATE CULTURE IN PUBLIC ADMINISTRATION: THEORETICAL FOUNDATIONS AND PRACTICAL APPROACHES
The article examines the relationship between leadership and corporate culture in public administration and identifies effective approaches for their integration to enhance the performance of government institutions. The authors explore contemporary leadership models applied in the public sector, including transformational, situational, transactional, collective, values-based, and servant leadership. Each model is analyzed through the lens of its impact on organizational culture, staff motivation, and the ability of public institutions to adapt to change. The article emphasizes the specific challenges faced by public sector leaders, such as high levels of bureaucracy, limited resources, the need for transparency and accountability to citizens, and the requirement for rapid responses to socio-economic and political changes. It highlights that effective leadership in public administration combines managerial skills with socio-psychological approaches aimed at developing human potential and fostering trust between employees and management.Special attention is given to corporate culture as a system of values, norms, rules, and behavioral standards that shape employee interactions and organizational effectiveness. The article describes three levels of corporate culture: artifacts, values and norms, and underlying assumptions, as well as types of culture: clan, adhocracy, market, and hierarchy. It demonstrates how different leadership models interact with these types of corporate culture, enhancing organizational performance and employee satisfaction.The theoretical analysis is complemented by practical examples of applying leadership models and corporate culture types in various Ukrainian public institutions. It is shown how corporate culture influences innovation, process transparency, staff motivation, and the readiness of organizations for reform.The article identifies key tasks for the practical improvement of public administration: formalizing organizational values and mission, developing leadership competencies through training and mentorship, implementing flexible management models, and monitoring corporate culture and its impact on organizational effectiveness.
leadership, corporate culture, public management, transformational leadership, situational leadership, management models, organizational effectiveness
ENTERPRISE VALUE GROWTH BASED ON DECISIONS ON OPTIMIZATION OF ITS LOGISTICS SYSTEM
The search for ways to enhance corporate value in order to improve the effectiveness of value-based management increasingly requires non-standard decision-making. One of these ways is the optimization of the enterprise’s logistics system, whose comprehensive improvement is expected to generate synergistic effects that positively impact both financial indicators and corporate value drivers. Accordingly, this paper advances theoretical and methodological foundations and provides practical recommendations for increasing enterprise value by optimizing its logistics system. The methodological framework of the study is based on a set of general scientific and specialized methods to ensure the achievement of the research objectives: logical and content analysis – to explore the interrelation between the concepts of “corporate value” and “logistics system”; generalization and specification – to analyze the drivers of value growth and their potential influence on corporate dynamics; grouping – to summarize the potential consequences of the logistics system’s impact on value growth drivers; analytical and systemic methods – to develop a set of logistics optimization solutions that generate a positive effect on value creation; and cause-and-effect analysis – to draw final conclusions. The results of the study include the development of theoretical and methodological provisions that form the basis for further synthesis of value theory and logistics, as well as the formulation of a set of logistics solutions aimed at optimizing the enterprise’s logistics system, which, when measured by logistics and financial metrics, generate a positive impact on its value growth. This contributes to improving the overall effectiveness of value-based management.
enterprise value, value-based management, logistics system, logistics optimization, enterprise
ROLE AND IMPORTANCE OF INCLUSIVE SOCIAL PROGRAMS FOR EDUCATION AND HEALTHCARE ORGANIZATIONS
This article analyzes the role of inclusive social programs in the strategic management of education and healthcare organizations. In the current context of social turbulence, limited resources, and growing social needs, the strategic management of these programs is a key factor in ensuring their effectiveness, efficiency, and sustainability. The author systematizes theoretical approaches to defining a “social program,” identifying its main characteristics: it is systematic, target-oriented, resource- and time-constrained, institutionally supported, and focused on social impact. Particular attention is paid to the inclusive-participatory approach, which ensures the involvement of a wide range of stakeholders in program planning, implementation, and evaluation. The study argues that this approach helps to address the needs of socially vulnerable groups, builds organizational trust, and increases the long-term sustainability of social programs. The article examines the specifics of inclusive social programs in education (ensuring equal access, adapting the learning environment, developing human resources) and healthcare (accessibility of medical services, creating a barrier-free environment, integrating medical and social services). A classification of such programs is proposed based on the criteria of focus, level of coverage, initiative, duration, degree of inclusiveness, content, and management approach. The article concludes that inclusive social programs are a strategic tool for societal development, facilitating the harmonization of socio-economic relations, improving the population’s quality of life, and implementing international standards for human rights and sustainable development.
social programs, inclusion, organization, educational institutions, healthcare institutions, public organizations
PERSONNEL POTENTIAL MANAGEMENT STRATEGY IN THE HOTEL AND RESTAURANT BUSINESS
This article substantiates a strategy for managing personnel potential in the hotel and restaurant business as a key condition for competitiveness amidst labor market turbulence and evolving customer demands. Personnel potential is defined as the integrated set of knowledge, skills, experience, and motivational characteristics of staff that ensures the achievement of strategic goals. The study reveals the systemic causes of high staff turnover–including seasonality, compensation limits, and burnout–and outlines the economic consequences, such as knowledge loss and reduced productivity. An integrated strategic HR management model is proposed, combining employer branding, data-driven recruiting, predictive HR analytics, adaptive motivation systems, continuous training, corporate culture development, and an inclusive, multigenerational employment policy. By comparing international approaches (USA, Germany, Poland, France) with Ukrainian practices, the article identifies relevant tools for digitalizing HR processes in the context of post-war reconstruction. This comparison informs a general management framework (challenges-consequences-tools) suitable for HoReCa enterprises of various scales. The article demonstrates that a systematic application of these approaches creates long-term competitive advantages by reducing turnover and stabilizing service quality. Future research directions include the quantitative validation of HR analytics, assessing return on investment in training, and establishing industry benchmarks for staff retention in Ukraine.
personnel potential, hotel and restaurant business, strategic HR management, HR analytics, motivation, corporate culture, inclusive employment, competitiveness
THE ESSENCE AND TOOLS FOR FORMING AN ENVIRONMENTAL BRAND FOR ENTERPRISES
This article examines the transformation of the brand’s role in business, determining that it has evolved from a simple identifier into a strategic tool for building consumer trust, emotional connection, and sustainable competitive advantages. Through a comparative analysis of approaches from international and domestic scholars, the study defines the essence of the concepts of brand, corporate brand, and eco-brand. The results indicate that a company’s brand should be an integrated system that accumulates strength at three synergistic levels: corporate, product, and leader. The corporate brand embodies values and ESG goals to build trust. Product brands rely on emotional value and eco-friendliness to enhance reputation, while the leader brand personifies authenticity. This systemic connection forms a “promise-proof-trust” value chain, with environmental communications acting as the key integrator. The study establishes that an eco-brand systematically integrates sustainable development principles, turning environmental constraints into strategic advantages such as increased consumer trust, production efficiency, and new market opportunities. The loss of any single brand element negates the overall synergistic effect. The article concludes by emphasizing the need to monitor the balance between profitability and sustainability. This requires constantly evaluating investments in eco-innovations against the company’s pricing policy to ensure brand strength is maintained through effective eco-communications.
brand, brand strength, brand levels, value parameters of demand, brand value chain, environmental communications, eco-brand
METHODOLOGY OF STRATEGIC RISK MANAGEMENT IN THE BUSINESS STRUCTURE MANAGEMENT SYSTEM
This article explores the essence and significance of strategic risk management (SRM) as an integral component of modern management systems within contemporary business organizations. The study highlights the fundamental distinctions between SRM and traditional operational or financial risk management, emphasizing that SRM transcends mere risk mitigation to become a proactive, forward-looking tool. This tool is crucial for fostering sustainable development, ensuring long-term organizational resilience, and securing a competitive advantage in today’s increasingly turbulent and complex business environment. This research systematically outlines the core principles, objectives, and rationale for implementing strategic risk management. A comprehensive logical-structural framework is proposed to illustrate the interconnectedness of the essential elements of the SRM methodology. These elements include goal setting aligned with long-term strategic priorities, comprehensive risk identification, thorough risk assessment, the development of tailored response strategies, and continuous feedback and monitoring mechanisms. Special emphasis is placed on the need for the ongoing methodological refinement of SRM components, ensuring that each element functions effectively within the broader enterprise management system. Furthermore, the paper underscores the imperative for business organizations to move beyond reactive, fragmented approaches to risk management. It advocates for adopting adaptive and dynamic procedures that enable enterprises to anticipate and respond to emerging challenges, thereby facilitating strategic transformation and sustainable growth. Integrating SRM into corporate governance frameworks enhances strategic decision-making and fosters an organizational culture grounded in resilience, heightened risk awareness, and strategic foresight. Ultimately, the article argues that a well-developed and systematically implemented SRM methodology not only aids in risk containment but also serves as a catalyst for innovation and the identification of new business opportunities. This approach positions SRM as a vital driver of organizational success and sustainability amid volatile, uncertain, complex, and ambiguous (VUCA) business conditions.
strategic risk management, risk identification, adaptive management, risk monitoring, methodology
MANAGEMENT OF ACCOUNTS RECEIVABLE UNDER ECONOMIC INSTABILITY: CONCEPTUAL AND APPLIED APPROACHES
This article explores both conceptual and applied approaches to managing accounts receivable in enterprises facing economic instability. The author presents a detailed classification of receivables based on their liquidity, maturity, origin, and risk exposure, emphasizing the critical need for structured segmentation and prioritization of collection strategies. The study identifies key financial indicators – such as turnover ratios, solvency metrics, and working capital efficiency – that collectively influence the effectiveness of receivables management. A comprehensive model is proposed, integrating traditional financial instruments with innovative digital tools, including automated scoring systems, predictive analytics, and blockchain-based verification, to streamline operational processes. The article also analyzes the fundamental role of regulatory frameworks, particularly national accounting standards and international financial reporting principles, in shaping receivables accounting and disclosure practices. Drawing on Ukrainian and international experience, the author formulates several practical recommendations for optimizing credit policies, improving financial discipline among counterparties, and consequently enhancing enterprise resilience to macroeconomic shocks. Special attention is given to the challenges faced by small and medium-sized businesses, which often operate with limited access to financial resources and are therefore more vulnerable to payment delays. The strategic importance of receivables management is highlighted in the context of liquidity preservation, risk mitigation, and long-term sustainability. The findings are highly relevant for financial managers, accountants, analysts, and policymakers seeking to strengthen corporate financial strategy. Further research is strongly recommended to assess the long-term impact of digitalization, artificial intelligence, crisis-response mechanisms, and adaptive financial architectures on receivables management in post-crisis, transitional, and recovery economies, with a particular emphasis on cross-sectoral integration and resilience-building mechanisms.
Economics and management of national economy
accounts receivable, economic instability, working capital, credit policy, risks, solvency, management methods
THE ROLE OF ECONOMIC GROWTH THEORIES IN THE FORMATION OF FINANCIAL MECHANISMS FOR POST-WAR RECOVERY
Accelerating post-war economic recovery processes in Ukraine requires a profound rethinking of the theoretical foundations of economic growth and the development of financial mechanisms capable of ensuring sustainable, inclusive, and technology-oriented development. This study presents a systematic analysis of classical and contemporary theories that underpin key principles of economic growth–including Keynesianism, neoliberalism, institutionalism, endogenous and exogenous growth models, sustainable development, and digital transformation–with the aim of identifying their practical relevance and potential applicability in shaping a strategic model and financial mechanisms for post-war recovery and reconstruction of the national economy. Through a creative reinterpretation of core theoretical concepts and the comprehensive application of comparative analysis, systematization, logical generalization, and expert evaluation methods, the research identifies the main factors influencing the effectiveness of economic policy in the context of post-conflict transformation. Special attention is given to the role of state institutions, investment in human capital, innovation, digitalization, and ecological modernization. The study substantiates the need to combine market incentives with institutional reforms to ensure a balance between economic efficiency, social equity, and environmental sustainability. It outlines pathways for integrating theoretical insights into national financial policy, particularly through fiscal stimulus mechanisms, support for innovative enterprises, development of digital infrastructure, and the implementation of green projects. The research demonstrates that a modern model of economic growth must be interdisciplinary, adaptive to global challenges, and capable of delivering long-term stability. The proposed approaches can be utilized by public authorities to inform strategic decisions in economic planning, financial regulation, and institutional modernization throughout Ukraine’s post-war recovery process.
economic growth, economic theories, financial mechanism, post-war recovery
THE ROLE OF EUROPEAN FINANCIAL INSTITUTIONS IN IMPLEMENTING CROSS-SECTORAL PROGRAMS FOR THE RECOVERY AND DEVELOPMENT OF THE UKRAINIAN ECONOMY
Amid a full-scale war, Ukraine faces unprecedented recovery needs under severe fiscal and institutional constraints. This article examines the role of European financial institutions (EFIs), such as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), in financing cross-sectoral programs for economic renewal. The study maps the EFI instrument mix – including grants, concessional loans, guarantees, and technical assistance – and shows how tailored combinations enhance project bankability and mobilize private and municipal co-financing across key sectors like infrastructure, energy, SMEs, and healthcare. Drawing on recent initiatives like the Ukraine Facility and public-private partnership (PPP) models, the article illustrates how social, environmental, and economic objectives can be integrated within cohesive financing frameworks and sequenced through the project cycle. It then identifies major implementation bottlenecks: limited local institutional capacity, regulatory complexity, fragmented inter-agency coordination, and insufficient project preparation facilities. To improve aid effectiveness, the paper proposes several recommendations: establishing robust state-municipality-business coordination platforms; systematic capacity building for project design and management; standardizing project-cycle tools and procurement templates; and implementing transparent, data-driven mechanisms linked to key performance indicators (KPIs). The authors conclude that embedding a cross-sectoral approach in recovery finance – supported by EFIs, PPPs, and local capacity-building – can accelerate Ukraine’s European integration while laying the foundations for sustainable growth, enhanced resilience, and institutional modernization.
European financial institutions, cross-sectoral programs, economic recovery, international assistance, financial instruments, municipal development, project capacity
MECHANISMS OF AI INTEGRATION INTO PROJECT MANAGEMENT AS A TOOL FOR ENSURING COMPETITIVENESS OF THE DOMESTIC IT-INDUSTRY
This study examines the mechanisms of artificial intelligence integration into project management as a strategic tool for enhancing the competitiveness of Ukraine’s IT industry amidst wartime challenges and post-war recovery opportunities. The research analyzes the current state of the domestic IT sector, which continues to generate significant foreign currency revenue despite military aggression, identifying its potential as a key driver for economic reconstruction. Traditional project management methodologies are evaluated, revealing their limitations in providing necessary flexibility under high uncertainty conditions and resource constraints exacerbated by specialist migration and mobilization. The paper develops a comprehensive conceptual model for AI application in project management based on three fundamental principles: automation of routine processes through intelligent testing and data analysis tools; AI-driven strategic planning and resource management that optimizes allocation and adapts schedules based on changing factors; and enhanced user interaction through feedback analysis to better understand target audience needs and promptly adapt products to market requirements. A systematic six-stage implementation algorithm is proposed to facilitate the integration of AI technologies, minimizing risks while maximizing benefits. This algorithm encompasses preparation, selection and configuration of AI tools, phased integration into development processes, team training and adaptation, monitoring and optimization based on performance data, and scaling of successful practices for long-term AI competency development within organizations. The research identifies four key dimensions of AI integration impact on competitiveness: increased development efficiency with project timeline reductions of 20-30%; improved product quality through error reduction and higher user requirement compliance; formation of strategic market advantages including more competitive pricing and international client trust; and enhanced adaptability to market changes through rapid response to evolving user needs and effective market opportunity utilization. Empirical studies conducted with five domestic IT companies of varying sizes confirm that implementing elements of the developed model resulted in reducing project execution times by an average of 23%, improving resource planning accuracy by 31%, and decreasing critical errors in final products by 45%. The proposed integration mechanisms create a foundation for optimizing operational activities of IT companies and strengthening their competitive positions in the global digital services market, particularly crucial for post-war economic recovery.
artificial intelligence, project management, IT industry, competitiveness, digital transformation, wartime challenges, post-war recovery, resource optimization, implementation algorithm, strategic advantages
MODELING BY SOME SYSTEMS OF DIFFERENTIAL EQUATIONS
This article examines macro models that evolve over time, along with the mathematical models that describe them. These are dynamic models, wherein all variables generally depend on time, which acts as an independent variable. Dynamic models can be categorized into continuous and discrete time models, reflecting the nature of the system’s dynamics. In discrete dynamic models, systems of difference equations or individual difference equations are employed. Conversely, continuous dynamic models utilize differential equations, particularly systems of differential equations. In certain scenarios, systems with mixed dynamics exist, for which differential equations are also used. Difference equations and systems thereof are effectively applied in modeling dynamic processes in fields such as economics and banking. In this study, we focus on systems of differential equations and investigate their reduction to a single second-order differential equation. Specifically, we demonstrate their application to solving financial forecasting problems. Furthermore, we analyze a discrete second-order model, namely the business cycle model proposed by A. Hansen and P. Samuelson and later refined by J. Hicks. This model subsequently became known as the Samuelson-Hicks model, and it is inherently discrete. Another notable model of the economic cycle is the Kaldor model, which has been the subject of extensive research in economic dynamics. The Kaldor model posits that investment in a single-sector economy is contingent upon national income, with the propensity to invest decreasing when income deviates from its equilibrium value. Additionally, it assumes that for a given level of income, investment diminishes with the growth of capital. This model is also represented by a system of first-order differential equations. Notably, we delve into the economic cycle model of A. Phillips, devoting considerable attention to its analysis. The Phillips model serves as a continuous analog of the Samuelson-Hicks model.
Differential equations, systems of differential equations, dynamic models, Phillips economic cycle model, income, investment, financial forecasting, financial modeling, simulation
Due to the rapid increase in the number of charitable organizations and the involvement of Ukrainian companies in volunteer activities, the need for research into the regulatory framework governing charitable activities has grown. This study analyzes the existing body of scientific literature and recent advancements by other authors on the chosen topic. The dynamics of charitable activities during martial law in Ukraine are examined. The study reveals that business groups provided the largest amount of assistance among the respondents. The key principles of charitable activities are identified, and the participants in this process are classified. Practical recommendations for making donations are provided. Typical accounting correspondences for recording charitable activities are presented. Special attention is given to the specifics of recording charitable assistance in the accounts of both donors and beneficiaries. The legislative framework for the taxation of financial and material assistance is reviewed, and the key aspects of documenting charitable assistance from the donor’s perspective are outlined. Object of Study: The system of financial accounting and taxation of charitable activities. Subject of Study: Theoretical, methodological, and practical aspects of financial accounting and taxation of charitable activities. Tasks: To examine the regulatory and legal aspects of corporate charitable activities, analyze the trends in the development of charity in Ukraine during the war, and develop recommendations for the financial accounting process for charitable activities. Purpose: The purpose of this study is to investigate the current state of charity in Ukraine and to refine recommendations concerning the financial accounting and taxation specifics of charitable assistance provided by business entities. Research Methods: The research methodology incorporates the fundamental principles of modern economic science, along with a set of general scientific and specialized methods pertinent to contemporary accounting practices. Specifically, the following methods were employed in this scientific research: a systematic approach for studying the challenges of accounting and taxation in charitable activities; economic and statistical analysis to examine the scope of aid provided by Ukrainian donors; and methods of analysis and synthesis for developing methodological recommendations concerning the accounting treatment of the operations under study. Scientific Novelty: The scientific novelty of this work lies in its developed and systematized recommendations for the financial accounting process of charitable activities.
assistance, charitable activities, taxation, beneficiary