Кафедра економіки та фінансів

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Analysis of financial statements as a business management tool
(MAGNANIMITAS Assn, 2024) Panchenko, Olha; Balazyuk, Oksana; Portovaras, Tetіana; Andrieieva, Vita; Kotkovsky, Volodymyr; Андрєєва, Віта Анатоліївна
In today's dynamic business environment and intensified competition among companies, the study of financial stability and management efficiency is crucial for any successful organization. Therefore, the analysis of financial statements is a necessary tool for enterprises to make rational management decisions and achieve strategic goals. Additionally, financial analysis is essential in the context of increasing competition and market volatility. The capacity to promptly respond to changes in the economic environment and adapt strategies is increasingly crucial for ensuring enterprise efficiency. Financial statement analysis, in particular, enables companies to assess their financial strength, determine optimal development strategies and make informed decisions in a changing market environment. Financial statement analysis is a crucial aspect of successful management. It involves a systematic analysis of an enterprise's financial and economic activities, including its structure, dynamics, and effectiveness. The scientific literature reviewed in this paper emphasizes the significance of financial statement analysis as a tool for identifying risks, formulating management strategies, and enhancing financial stability. In particular, the article discusses various aspects of the analytical approach, methods and tools of analysis that can help companies make informed management decisions. This article aims to explore the role and importance of financial statement analysis in business management. It covers various aspects of the analytical approach, methods, and implements of analysis to determine how this tool can become crucial for making informed strategic and operational decisions.
Economic and mathematical modeling of loan risks for credit unions
(Allied Business Academies, 2019) Garbowski, Marek; Lubenchenko, Olga; Perederii, Nadiia; Moskalenko, Nataliia; Rumyk, Ihor; Румик, Ігор Іванович
The article forms the economic and mathematical models for assessing and determining the level of accumulated loan risk in the loan union. Modeling is conducted to optimize the structure of the loan portfolio of the loan union and to manage loan risk inputs. A methodological toolkit for measuring the level of loan risk concentration based on the use of homogeneous variables is developed. A loan risk management model was developed based on the analysis of the contribution of systematic factors to the total amount of loan portfolio risks. © 2019 Allied Business Academies.
Financial support and forecasting of food production using economic description modeling methods
(FINTECHALLIANCE LLC, 2021) Rumyk, I.; Laptev, S.; Seheda, S.; Akimova, L.; Akimov, O.; Karpa, V.; Румик, Ігор Іванович; Лаптєв, Сергій Михайлович
The article considers the financial programs used by the state to support food production based on the use of methods of economic descriptive modeling. It is established that the interpretation of the essence and strategy of financing in practice has quite different approaches. It has been proven that the formation of an effective system of financing food production involves the relationship and effective redistribution between different sources of financial resources. It is substantiated that agriculture has all the prerequisites for productivity growth provided that investment in the Ukrainian agricultural sector increases and effective budget financing. In this regard, the features of food production based on the use of descriptive modeling capabilities using the software package Statgraphics XVII Centurion. Because of the analysis, it is established that the main parametric criterion, which depends on the level of food production in the country as a whole and individual regions, determines the indicator of agricultural production, quantitative parameters of which are taken as a basis for calculating self-sufficiency, import coverage, calories, consumption, profitability and others. Estimation of this indicator by means of modeling allowed to make the forecast of dynamics of change of its volumes for the next twelve time periods for the purpose of preliminary definition of level of food production. For this purpose, the economic and mathematical tools of estimation of forecast dynamics of change of volumes of agricultural production for the future periods are used. Modeling of the indicator of agricultural production per person per year was carried out by research on the normality of distribution using Kolmogorov Smirnov, Anderson - Darling compliance tests and a modified Kolmogorov - Smirnov test. According to the results of comparative analysis of seventeen different models and five compliance tests, it was found that most of the statistical tests are quadratic model, based on which the projected volumes of agricultural production per person per year and calculated for each forecast year (period) with a reliability of 95% lower and upper limits of the studied indicator. It is established that by 2030 in Ukraine with a high probability the growth trend of agricultural production will continue, and at a high rate. The article outlines the benefits of using economic modeling methods in the study of a particular problem
Formalization of the influence of exogenous and endogenous processes on the financial activities of agribusiness enterprises
(Fintech Aliance LLC, 2024) Rumyk, Ihor; Galetska, Tetiana; Klymchuk, Oleksandr; Tkalenko, Svitlana; Derii, Zhannae; Seheda, Serhii; Румик, Ігор Іванович; Ткаленко, Світлана Іванівна
The functioning of business structures in the agricultural sector has recently become significantly more complicated. In today's conditions, it is becoming more and more difficult to develop security strategies for agribusiness enterprises, because factors that have arisen relatively recently, especially of an external nature, have a significant negative impact on the financial activities of enterprises. In order to make optimal financial decisions, the entire toolkit, developed and tested by many years of business experience in the agricultural sector both abroad and in the middle of our country, should be used. One of these methods is economic descriptive cognitive modeling, which allows to analyze external and internal factors influencing the activities of enterprises, evaluate the strength of their interaction, and graphically display cause-and-effect relationships in a dynamic system. The method of cognitive modeling was studied in order to formalize the influence of exogenous and endogenous processes on the financial activity of agribusiness enterprises. As a result of the research, the components of the development of enterprises in the agricultural sector were analyzed from the standpoint of ensuring the efficiency of their financial activities using cognitive modeling. A matrix of causality and a cognitive map of the influence of a number of factors on the target component "financial activity of the agribusiness enterprises" were built. Impulse modeling of the influence of given concepts was carried out. The results of the conducted cognitive modeling of the influence of factors can be used to develop a safe strategy for the sustainable development of enterprises of other industries in the conditions of dynamic changes. The application of the cognitive approach made it possible to foresee various processes of development of situations in this system that may arise in it under the expected influence of various factors, as well as the influence of regulatory and control systems. © 2024 by the author(s).
Formation of the Stakeholders Account Model in Conditions of Sustainable Development
(Allied Business Academies, 2019) Karpenko, Lidiia M.; Koev, Stoyan Radev; Kashchena, Nataliia B.; Grushko, Victor; Khorosheniuk, Andrii; Грушко, Віктор Іванович
The world experience regarding the interpenetration of the concept of sustainable development and responsible investing and accounting models is analyzed. The drivers of the appearance of the newest accounting model are determined, taking into account the specifics of the information requests of stakeholders. The stages of transformation of key forms of traditional reporting taking into account social and environmental components are considered. The determinants and principal features of the stakeholders accounting model are investigated in order to increase the validity of investment decisions. As a result of formalization, the hypothesis that the reporting on the sustainable development of accountable investment companies constituents is more transparent than the reporting of traditional financial index companies is disproved, taking into account the sub-periods of the global financial crisis identified and the division of financial markets for developed and developing countries. This has made it possible to confirm that the disclosure of information on ESG criteria is insufficient for decision makers in the financial sector of the economy and, in turn, determine the importance of its standardization. © 2019 Allied Academies.
Managerial aspects of the agrarian enterprises financial support
(IOP Publishing Ltd, 2021) Bieliaieva, N.; Sova, O.Yu.; Bobrov, Yevgen; Antypenko, N.; Бобров, Євгеній Анатолійович
The article is about formulating a framework of actions for agrarian enterprises financial support provision on the base of researching managerial aspects of its implementation and its connection with nature management sphere. Analysis of the structure of agrarian enterprises financial resources sources proved the fact that the main emphasis of the financial resource's formation is from their own sources. It is proved that financing the activity of agrarian enterprises is based on the specifics of its functioning and on the basis of it it's determined evaluation indicators of agricultural enterprises strategic cost management effectiveness with the aim of indicating the structure of their financial resources sources. It is determined implementation impact of using principles of CALS in the agrarian enterprises management system. It is investigated open supply chain platform that covers several areas: financing agro bank; distribution of seeds, plant protection products and fertilizers; purchase of grain; logistics; agrotechnologies; providing IT and financial advice; export sales. Comprehensive assessment of the resource potential of the regional agro-industrial complex is calculated. Obviously, the activity of agrarian enterprises affects not only the production area but also the whole system of economics organization and functioning. © Published under licence by IOP Publishing Ltd.
Methodology of corporate financial diagnostics in the period of a crisis
(MAGNANIMITAS Assn., 2021) Mihus, Iryna; Denysenko, Mykola; Rumyk, Igor; Pletenetska, Svetlana; Laptiev, Mykhailo; Kupriichuk, Vasyl; Мігус, Ірина Петрівна; Румик, Ігор Іванович; Плетенецька, Світлана Михайлівна; Лаптєв, Михайло Сергійович
The article is devoted to corporate financial diagnostics' peculiarities in the context of ideas about organizational crises. The economic signs of a crisis enterprise are considered in conjunction with the critical signs of a crisis: a threat to priority goals, suddenness, and lack of time for making anti-crisis decisions. The study of scientific ideas about the crisis, in conjunction with the enterprise's financial characteristics, is a necessary stage in the formation of the methodology of corporate financial diagnostics.
Model for forming of optimal credit portfolio of commercial bank
(Allied Business Academies, 2019) Drobyazko, Svetlana; Bondarevska, Olha; Klymenko, Dmytri; Pletenetska, Svetlana; Pylypenko, Olha; Плетенецька, Світлана Михайлівна; Пилипенко, Ольга Олегівна
A methodological approach to the optimization of a commercial bank's credit portfolio is proposed based on Markowitz economic and mathematical optimization model. The economic and mathematical model has been formed, relating to optimization of the bank's credit portfolio based on balancing the factors of maximum profitability and given level of credit risk. A methodical approach was formed to form a credit portfolio by types of credit services and the level of profitability of each of them in the total amount of credits granted. © 2019 Allied Business Academies.
Modern Innovations in the Context of the Transition to Circular Economy
(Publishing House “Akademperiodyka”, 2021) Bobrov, Yevgen; Бобров, Євгеній Анатолійович
Introduction. The major threats to human existence are nuclear war, ecological collapse, and technological breakthrough. They are all closely linked to both security policy and economic development. Problem Statement. The world economic system annually consumes resources that need a year and a half to recover, thus having an irreversible impact on the planet ecosystem. Purpose. The purpose of this research is to explain the main trends associated with the transition to circular economy. Materials and Methods. Analysis and synthesis, comparative analysis and systemic approach have been used in this research. Scholarly research reports of international organizations, private and public corporations, publications on this issue have been used as references. Results. The growth of world GDP has provided a significant progress and allowed, to some extent, freeing billions people from impoverishment. At the same time, economic growth causes a steady increase in demand for natural resources. This, in turn, leads to the loss of biodiversity and to the problems with water scarcity, which are caused by the methods used in the extraction and processing of natural resources. To develop a climate-neutral circular economy, appropriate policy initiatives have been launched and programmatic actions have been developed. Transformation has been already underway, but conceptual decisions need to be developed and adopted as soon as possible. Conclusions. Politics and economics shall aim at the activities that contribute to making more environment friendly society economically viable. The most obvious step should be to ban subsidizing any activities that are harmful to the environment. In Ukraine, there are ample opportunities to transform the dominant model of linear economy into environment friendly and economically efficient circular model. The development of circular economy in Ukraine may give not only a favorable environment effect, but also the economic effect of increasing energy and resource efficiency, as well as the social effect of creating additional jobs and profiting corporations in new industries and activities.
Optimal investment decision making on the model of production enterprise with limited resources
(LLC CPC Business Perspectives, 2018) Ivanenko, Tetiana; Hrushko, Viktor; Frantsuz, Anatolii; Грушко, Віктор Іванович; Француз, Анатолій Йосипович
Investments are among the most important factors of national economic growth. Selection of optimal investment project is the first priority for any enterprise with limited financial resources. This study is dedicated to a choice among mutually exclusive projects, which are impossible to complete partially, so, one project must be chosen and all others must be rejected. An investor must find among all possible projects the one that allows to better achieve all investor's aims. A mathematical model of multi-purpose multi-criteria investor decision making is proposed for investment project selection problem. Efficiency and riskiness of studied projects are evaluated using such indicators as profit, rate of return, payback period, marginal cost of capital, also taking into account subjective characteristics, namely the investor's attitude towards financial risks, importance assessment of decision making criteria, etc. Decision making assessment methods for the situations of risk and uncertainty are applied to resolve the problem of optimal project selection, such as Wald's pessimistic criterion, maximax optimistic criterion, as well as Hurwicz's, Laplace's, Bayes-Laplace, Hodges-Lehmann criteria, and Savage's minimax risk criterion. Calculations carried out and results obtained indicate that the best investment project chosen that way will provide the highest absolute profit, despite certain disadvantages such as lower rate of return, longer payback period and higher risk than other projects. © Tetiana Ivanenko, Viktor Hrushko, Anatolii Frantsuz, 2018
Precious metals market forecasting in the current environment
(Scientific Center of Innovative Research, 2024) Rumyk, Ihor; Kuzminsky, Volodymyr; Pylypenko, Olha; Yaroshenko, Oksana; Румик, Ігор Іванович; Кузьмінський, Володимир Зигмонтович; Пилипенко, Ольга Олегівна
he article analyzes trends in the precious metals market. The general characteristics and assessment of the most popular precious metals are given. The key factors influencing the supply and demand of precious metals are analyzed. Precious metals market forecasts have been developed. An analysis of the state of the world gold market in recent years has been carried out. Using the method of comparative analysis, modern trends in the supply and demand of this precious metal were revealed. The dynamics and structure of world gold reserves are considered. The world's precious metal reserves in different countries were also studied. The potential gold reserves in Ukraine are estimated. The production of precious metals in the world was studied. The rating of countries producing precious metals has been compiled. The leaders in this field have been identified based on the criteria of production capacities and growth rates of precious metals extraction. The structure of consumption of precious metals in the world is analyzed. The factors that lead to an increase in the rate of consumption of precious metals in modern conditions are considered. In particular, an increase in the current rate of commissioning of new solar energy capacities and an increase in the use of electric transport have been identified, which has significantly increased the demand for precious metals in the world. The impact on price dynamics of geopolitical and other economic factors, such as changes in trade relations between countries, currency fluctuations, market crises, changes in the monetary policy of central banks in many countries, and, above all, the increase in interest rates by the US Federal Reserve, was also studied. Considering these and other influencing factors, forecasts of the price dynamics of the precious metals market for 2024 and subsequent years were developed using a graphical method.
Price collusion detection tools in reforming the national economy
(Університет «КРОК», 2017) Zakharova, K.; Захарова, Ксенія Федорівна
In this article, instruments to detect price collusion in order to reform the national economy are researched considering experiences of other countries. Conditions for creating persistent forms of cartels are considered as well as causes that complicate or facilitate prevention of cartelization. The set of existing instruments to detect and prevent the creation of price collusion cartels is analyzed. Suggestions for improving these instruments are made. There were proposed the ways of implementing economic and legal methods of combating cartels into the practice of the Antimonopoly Committee of Ukraine. The author considers such implementation as an important part of the reforms in the national economy.
Principles and components of combining investment activities with strategic management of a company
(Allied Business Academies, 2021) Sukhorukova, Olga; Grygorova, Zoya; Kvasko, Alla; Siryk, Maksym; Bobrov, Yevgeniy; Бобров, Євгеній Анатолійович
The article forms a comprehensive understanding of the options for combining investment activity and strategic management within a company. System-forming factors for providing investment activity of companies are identified and typical principles are identified for building new systems of investment processes strategic management. A company investment strategy development model is designed and filled with tools. Indicators for determining investment potential of a company within the strategy of its operation are highlighted and analytically substantiated. © 2021
Research and methodological basis for ensuring the financial security of banks in Ukraine
(LLC CPC Business Perspectives, 2018) Balatskyi, Ievgen; Andrieieva, Vita; Solodovnik, Olesia; Lypchanskyi, Volodymyr; Андрєєва, Віта Анатоліївна
In an unstable financial and economic, political and social context, a number of Ukrainian banks demonstrate downtrends in their profitability, liquidity, and solvency rates. With that, the financial health and the growth vector of the whole banking sector of the country in the strategic perspective precisely depends on the quality of measures taken to ensure the financial security of a banking institution. The article analyzes the concept of financial security of a bank from the standpoint of protective, dynamic, resource-functional, competitive and systemic approaches. The authors substantiate that the financial security of the banking system as a whole and that of an individual bank is an integral part of the financial security of the country. In addition, three methodological approaches to assessing the financial security of the country’s banking sector are identified and described, namely instrumental, system and target-oriented and criterial ones. Based on theoretical and methodological analysis of scientific works and methodological approaches, a system of research and methodological support for the bank’s financial security is proposed. © The author(s) 2019
State influences on the biases in business under economic decisions making
(Scientific Center of Innovative Researches OU, 2024) Radionova, Iryna; Радіонова, Ірина Федорівна
The study deals with one of the main important direction of behavioral economics, namely: the biases in business. The biases significantly affect economic decisions and make them less effective. This is reflected not only on the results of individual enterprises, but also on the results of the entire national economy. Therefore, it is important that central and local authorities try to limit the level of bias in business. The conclusions of this study about the possibility directions of the government influence on biases in business are made on the basis of the results of sociological studies of the behavioral reactions of entrepreneurs. These conclusions are useful for both business and government.
Structural modeling of the impact of bank nonperforming loans on the banking sector: the Ukrainian experience
(LLC CPC Business Perspectives, 2020) Bondarenko, Eugenia; Zhuravka, Olena; Aiyedogbon, John O.; Sunday, Ologunla Emmanuel; Andrieieva, Vita; Андрєєва, Віта Анатоліївна
The paper aims to develop scientific and methodological approach to assessing the interaction of nonperforming loans of Ukrainian banking institutions, the profitability of the banking sector and its financial stability, which will allow a more detailed assessment of the directions and degree of mutual influence of these elements. To substantiate this interaction economically and mathematically, structural equation modeling was chosen. Particularly, Statistica was chosen as a software tool to assess the adequacy of the resulting model and determine the level of statistical significance of its parameters. Six key indicators were selected as a research information base, two for each subject of research: indicators of nonperforming loans in the banking sector (the volume of nonperforming loans and the ratio of problem loans excluding capital reserves), profitability indicators of the Ukrainian banking sector (assets profit and rate of return on capital), and indicators of financial stability of the Ukrainian banking sector (regulatory capital-to-risk-weighted assets ratio and liquid assets-to-total assets ratio). For calculations, statistic data of selected indicators for 2005-2019 were used. As a result of calculations, mathematical data were obtained that accurately described the interaction of nonperforming loans of Ukrainian banking institutions, the profitability of the banking sector and its financial stability. The adequacy of the model was verified based on the following criteria: main summary statistics (ICSF criterion, ICS criterion, discrepancy function, maximum residual cosine), noncentrality fit indices (noncentrality parameter, population noncentrality parameter, Steiger-Lind RMSEA index, McDonald noncentrality index, adjusted population Gamma index), other single sample indices (Akaike information criterion, Schwarz criterion), and a normal probability plot. © Eugenia Bondarenko, Olena Zhuravka, John O. Aiyedogbon, Ologunla Emmanuel Sunday, Vita Andrieieva, 2020
The economics of uncertainty: content, evaluation, and regulation
(Scientific Center of Innovative Researches OÜ, 2022) Radionova, Iryna; Yemelianenko, Larysa; Zakharova, Kseniia; Malkovska, Yuliia; Usyk, Vira; Dziubko, Viktor; Fareniuk, Yana; Mihus, Iryna; Koval, Yana; Ananieva, Olesia; Hofman, Myroslava; Pekna, Halyna; Andrieieva, Vita; Potapenko, Denys; Trots, Iryna; Krasota, Olena; Topal, Anatolii; Pita, Yurii; Радіонова, Ірина Федорівна; Захарова, Ксенія Федорівна; Мігус, Ірина Петрівна; Ананьєва, Олеся Олександрівна; Гофман, Мирослава Олександрівна; Пекна, Галина Борисівна; Андрєєва, Віта Анатоліївна
The monograph gives prominence to an important phenomenon in the economic life of society, the relevance of which has increased significantly since the beginning of the XXI century. And it is here that the term «economic uncertainty» is used. The authors of this study tried to answer questions about the content and manifestations of economic uncertainty, and how to assess and regulate it. The emphasis is made on those processes and phenomena in the economic, social, and managerial spheres that have been influential in strengthening or, conversely, weakening (limiting) economic uncertainty. The text of this monograph can be useful for lecturers of economics, management, and academics, as well as for specialists in various markets, students, and graduate students. The authors of the monograph are grateful to all their readers and, especially, to those who will comment on the content of the work and the validity of the ideas presented in it. This monograph is dedicated to the 30th anniversary of the KROK University (Kyiv, Ukraine)
Waste management and prospects for the development of circular economy technologies
(FINTECHALLIANCE LLC, 2021) Loiko, V.; Bratko, M.; Bobrov, Ye.; Voitseshchuk, A.; Maliar, S.; Бобров, Євгеній Анатолійович
In the context of the transition from a linear model of the economy to circular issues of waste management and prospects for the development of circular economy, technologies are relevant and require further study. The article explores the necessity and advantages of introducing a circular economy model for further efficient development of the national economy. The trend in the volume of education and waste management in the territory of Ukraine for the period 2010—2019 was analyzed. The negative trends in the growth of generated waste over the study period by 4,49 % and the decrease in waste disposal by 25,86 % have been identified. An analysis was made of the development of the volumes of waste generation according to hazard classes in the territory of Ukraine for the period 2010—2019. which led to the conclusion that there was a positive trend of 2.51 times less generation of such wastes. The trend in waste generation by type of economic activity of enterprises and in households for the period 2010—2019 was analyzed. The most significant increase in waste generation by 12,41% was found in the mining industry and quarrying. The trend in environmental protection expenditure in Ukraine by type of economic activity for the period 2010—2019 was analyzed. This has made it possible to identify the most cost effective economic activities. A classification of technologies of circular economy is proposed, which distinguishes technologies aimed at recycling already accumulated industrial and household waste, technologies aimed at reducing the toxic load on the environment, and eco-design technologies. Based on the situation of waste management prevailing in the territory of Ukraine, it is proposed that priority be given to the development and introduction of technology aimed at the recycling of already accumulated industrial and household waste.
Аналіз впливу децентралізації генерації електричної енергії на енергетичну безпеку держави
(Університет «КРОК», 2017) Бобров, Є.А.; Бобров, Євгеній Анатолійович
Сучасна динаміка світових процесів в енергетичному секторі вимагає швидкого реагування на зміни та постійного вдосконалення. Необхідність оптимізації та розширення джерел постачання енергії для забезпечення енергетичної безпеки держави постійно ставить виклики перед енергетикою, і, зокрема, її найбільш прогресивною і динамічною частиною – альтернативною енергетикою. Наявність цієї проблеми зумовлює мету даного дослідження
Аналіз можливостей і необхідність проведення заходів з націоналізації як одного зі шляхів виходу української промисловості з кризи
(Університет «КРОК», 2016) Бобров, Є.А.; Бобров, Євгеній Анатолійович
У сучасних економічних умовах здатність економічної системи до стабільного розвитку залежить, насамперед, від її гнучкості та здатності до структурної перебудови економіки й оптимізації методів управління. Об’єктивно виправданою для України є доцільність розглядати механізми інституційних перетворень щодо трансформації власності для підвищення рівня національної та економічної безпеки.