Bulletin of V. N. Karazin Kharkiv National University Economic Series

Global supply chains and China’s textile cross-border trade: case study of Jiangsu province

2025-10-26T23:02:41+00:00

As one of the world's largest producers and exporters of textiles and clothing, China plays a key role in the reconstruction of the global supply chain and in the changes in the international trade situation. China's textile industry, as a traditionally profitable one, is facing unprecedented challenges and opportunities, which confirms the relevance of this study. The development of cross-border trade in textile products significantly depends on the business environment, which includes many factors, such as government support, prime cost, tariffs and external demand. Analyzing the impact of these factors on Chinese textile exports is a key focus of this study. Jiangsu Province is a home to numerous textile factories specializing in various products – from raw materials to finished garments. The province has a well-developed infrastructure, including ports, highways and railways, which facilitates the efficient movement of goods. Analyzing the impact of both domestic and international trade policies on textile industry may provide insights into the dynamics of cross-border supply chains. The paper focuses on sustainable practices in China’s textile industry that can improve the productivity and efficiency of supply chains. The study focuses on the impact of the international business environment on cross-border trade of Jiangsu Province. Through qualitative and quantitative data analysis on export demand, production costs, tariffs, exchange rates and policy support, the impact of these factors on the volume of cross-border trade in textiles and apparel is assessed. The paper proposes such strategies as improving the resilience of Jiangsu’s textile industry, optimizing production cost control, promoting innovation and upgrading of the industry with government support and enhancing the ability of enterprises to withstand trade risks. This can provide a sound basis for decision-making on industrial upgrading and expanding the global market for the textile industry of Jiangsu and other provinces in China.

Features of investment in the Ukrainian real estate market. Geo-information approach

2025-10-26T22:51:02+00:00

This article addresses the urgent issue of investment in Ukraine’s real estate market. It proposes the use of geographic information systems (GIS) for the collection, processing, and continuous updating of real estate data. The relevance of the study lies in the application of geodatabases for analyzing large volumes of property-related information. The research focuses on the residential real estate market in Ukraine, with particular attention to state mortgage programs. The main objective is to develop a stakeholder action sequence for real estate investment through mortgage financing and to study the dynamics of property value changes across Ukraine. The study employs general scientific methods of systems analysis and geostatistical techniques to transform data from discrete to continuous forms for large-scale analysis. The research aims to conduct a GIS-based study of the real estate market across all regions of Ukraine over the past four years. It analyzes the dynamics of apartment prices in the housing sector and visualizes the relationship between stakeholder profit and mortgage term within the framework of the “YeOselya” state mortgage program. Special attention is given to the formation of stakeholder profit through mortgage schemes by leveraging the difference between rental income and mortgage payments. The analysis reveals that key economic indicators – such as core inflation index, Hryvnia depreciation against the US dollar, and the growth of minimum wages in Ukraine – significantly affect overall profitability. The authors propose a sequence of stakeholder actions for identifying investment opportunities, whether via mortgage financing or personal funds, aimed at maximizing returns. The study concludes with an assessment of the relationship between profit and payback period under various economic conditions and presents several investment scenarios in the real estate sector, including those supported by the «YeOselya» program.

Ukraine's IT sector: analysis of trends under martial law

2025-10-26T22:52:15+00:00

Information technologies (IT) play a key role in stimulating growth, stability and innovative development of the Ukrainian economy. IT sector is one of the leading and export-oriented sectors of the national economy, contributing to foreign exchange earnings, strengthening international competitiveness and adapting to crisis phenomena. Given the challenges of wartime and changes in the structure of demand for IT services, it is especially relevant to identify the most productive sectors that have the maximum export potential. This, in turn, allows us to formulate justified measures to support and stimulate priority areas of the industry. The purpose of the work is to analyze trends in the main indicators of the functioning of the IT sector of Ukraine under martial law, as well as to study the relationship between the volume of exports of IT services and the number of business entities in this sector. The object of the study is the IT sector as a component of the national economy, and the subject is indicators that characterize its activities and their impact on export potential. Research methodology includes the use of official statistics, open databases, a review of scientific sources and reports, analysis of the dynamics, structure and growth of indicators, data visualization (tables and charts) and conducting correlation and regression analysis to identify the relationship between key indicators. The analysis showed that despite the challenges of modernity, the Ukrainian IT sector maintains positive dynamics, demonstrating signs of recovery and the ability to maintain foreign exchange earnings. In general, the IT sector is adapting to a prolonged crisis, where the dominance of key players among IT companies remains. The number of active entities in the context of NACE code 62.0 has a positive impact on the volume of exports of IT services in Ukraine. Companies that are directly involved in computer programming have the strongest impact. The constructed linear regression model allows to emphasize the expediency of stimulating the creation of new business entities as a tool for increasing foreign economic activity.

Financial market in the context of digital innovation: implications for marketing practices

2025-10-26T22:53:11+00:00

In the current context of financial services transformation driven by rapid technological development, increasing competition, and changes in consumer behavior, marketing strategy requires a profound rethinking and adaptation to the digital paradigm. This article explores the key drivers of innovative change: FinTech developments, mobile platforms, artificial intelligence, blockchain, big data, and algorithmic marketing. It examines the features of integrating digital tools into the marketing policies of financial institutions, including the personalization of customer experience, automation of communication processes, development of omnichannel platforms, and the application of customer behavior analytics. Special attention is given to the construction of a marketing strategy for digital innovations based on the concepts of value-oriented marketing, digital adaptation, and cross-platform promotion of financial products. Digital innovations not only open up new opportunities for the promotion of financial services but also require marketers to acquire new competencies and adapt to shifts in consumer behavior. The article proposes an original model of strategic management for marketing innovations, which considers the stages of development, implementation, and evaluation of the effectiveness of digital solutions. The study also highlights current challenges such as distrust towards new financial services, cybersecurity risks, the complexity of the regulatory environment, and the uneven level of digital literacy among clients. The conclusion emphasizes that an effective marketing strategy in the digital financial environment should combine innovative technologies with ethical approaches to data collection and usage, thereby ensuring customer trust and market stability. The theoretical and practical insights presented in the article may serve as a foundation for developing effective marketing policies for domestic financial institutions amid the digital transformation of the economy.

Application of the arbitrage pricing based on Gaussian temporal factor analysis (TFA) for the prediction of cryptocurrency prices

2025-07-24T23:27:09+00:00

The study demonstrates how the Gaussian TFA model can be applied for cryptocurrency price forecasting. The study considers four approaches of the Extended Normalized Radial Basis Function (ENRBF), namely, the N-Adaptive ENRBF, S-Adaptive ENRBF, ICA-ENRBF and APT-based TFA-ENRBF to make one-time-step predictions of the closing price of four different cryptocurrency prices (BTC, ETH, XRP and SOL) in the financial markets. We’ve evaluated and compared the performance of the proposed models with a conventional Root Mean Squared Error (RMSE) using daily series data from January 01, 2020 to December 31, 2024. The result indicates that the APT-based TFA-ENRBF consistently outperformed the other models by achieving the highest predictive performance for look-back and look-ahead periods in terms the least RMSE. This shows that the APT-based TFA-ENRBF approach shows consistently superior performance over three other conventional approaches. Moreover, we’ve found that the ICA-ENRBF approach comes second, whilst the N-ENRBF approach appears to be the worst compared to others. Because the paper ignores the influence of other factors that can likely influence price predictions, we suggest that future research may involve a more in-depth exploration of hybrid methods. which can help examine how other factors predict the cryptocurrency prices.

Sustainable household energy supply: methodological approaches to making optimal economic decisions

2025-07-25T00:04:51+00:00

The destruction of Ukraine's power infrastructure due to military actions exacerbates the problem of sustainable household energy supply. Frequent power, gas, and water outages lead to network overloads, rising tariffs, and decreased energy security. The vulnerability of traditional centralized systems highlights the need to explore alternative power supply approaches for the residential sector, particularly through the development of prosumerism, which involves active household participation in energy generation. This paper examines possible energy strategies for seven groups of typical private households utilizing different energy sources, including renewables. Methodological approaches are proposed for selecting economically optimal energy solutions, considering natural and climatic conditions, energy resource prices, the feasibility of using green technologies and energy efficiency measures, as well as state energy policy. Specifically, the potential of solar and wind power plants, battery storage systems, and diesel generators as means of autonomous energy supply for the residential sector is analyzed. The advantages and drawbacks of these technologies are assessed in the context of possible short- and long-term disconnections from the main power grid. The study results indicate that an effective household energy strategy should be based not only on minimizing economic costs but also on increasing energy independence and resilience to crises. Optimal economic decisions must take into account all energy-related home expenditures (including costs for heating, cooking, water heating, lighting, and economic losses caused by power outages) as well as potential revenues (such as savings achieved through self-produced energy consumption and income from selling energy surpluses). Key factors influencing household decision-making include government support, the availability of investment resources, and the implementation of economic mechanisms to stimulate the use of renewable energy sources. The proposed methodological approaches contribute to strengthening the country’s overall energy security and to developing effective models of sustainable energy supply for households.

The impact of the circular economy on the development of small business

2025-10-26T22:54:13+00:00

The article examines the impact of the circular economy on the development of small businesses, identifies key benefits and challenges they face during the transition to a new business model. The main principles of the circular economy are described, such as reducing the use of primary resources, reusing materials, recycling waste, and creating closed production cycles. The role of small businesses in implementing circular approaches, their ability to quickly adapt to changes, and test new business models and technological solutions is analyzed. The advantages of the transition to a circular economy are outlined, including increasing the competitiveness of enterprises, creating new jobs, reducing the negative impact on the environment, and streamlining production processes. At the same time, the main challenges that hinder this process are considered, including the need for significant initial investments, technological difficulties, the need for changes in consumer habits, and insufficient awareness of businesses about circular practices. The important role of state support in creating favorable conditions for the transition of small businesses to a circular economy is identified, in particular through financial incentives, educational programs and improving the regulatory environment. Particular attention is paid to the prospects for the integration of Ukrainian enterprises into international environmental initiatives and the possibilities for developing cooperation between business, the state and public organizations to form sustainable economic models. It is concluded that the circular economy opens up wide opportunities for small businesses, contributing to more efficient use of resources, cost reduction and the introduction of innovations. However, to fully realize its potential, comprehensive measures are needed, including financial support, infrastructure development, technological innovations and changes in consumer culture.

International expansion of Ukrainian business into the EU market: analysis of the external environment and development prospects

2025-10-26T22:55:54+00:00

The paper presents a comprehensive analysis of the international expansion of Ukrainian businesses into the European Union market. In particular, the study is focused on identifying the main external barriers, competitive advantages, and development prospects of Ukrainian enterprises in the context of the rapidly changing global economic environment. The article examines in detail the EU’s regulatory requirements, cultural characteristics, and logistical challenges, which constitute significant obstacles for Ukrainian companies seeking to enter international markets. Within this research, practical case studies were showcased to illustrate the successful integration of Ukrainian companies into the European market. For instance, the experiences of Nova Poshta, Ajax Systems, and Farmak have been analyzed, demonstrating that by optimizing logistics chains, adapting products to meet the demands of European consumers, and implementing state-of-the-art technologies, considerable progress has been achieved even under severe geopolitical pressures. Moreover, the article evaluates the role of state support provided through cooperation with international organizations such as USAID, GIZ, and the EBRD, as well as the utilization of business platforms like Diia.Business. The paper outlines the methodological approaches adopted, which are based on the analysis of data from official sources (the Ministry of Economy, the National Bank of Ukraine) and recent scholarly publications. This integration of data has facilitated the development of a holistic picture of the external environment and the strategic measures required for enhancing the competitiveness of Ukrainian companies in the EU market. Special attention is given to assessing the impact of regulatory, cultural, and logistical factors and identifying effective market entry models. As a result, the paper formulates practical recommendations for enterprises aiming to expand beyond the domestic market to secure long-term stability and growth. Overall, the findings of the study provide a solid basis for a more systematic approach to international expansion, which is essential for establishing sustainable partnerships in a highly competitive global arena. The conclusions drawn from the article underscore the potential of the Ukrainian business sector to optimize production processes and adapt to the demands of foreign markets, thereby playing a key role in the country’s stable economic development.

Ukrainian IT companies in the global information technology services market

2025-10-26T22:55:11+00:00

The global IT services market plays an important role in the development of Ukraine's economy: it increases GDP, contributes to job creation, attracts investment, and strengthens integration into the global economy. At the same time, the Ukrainian IT sector faces challenges such as economic instability, brain drain, and cybersecurity threats. This article examines the leading companies in the global IT services market: Accenture, Tata Consultancy Services, Infosys, IBM, and Capgemini. These companies specialize in cloud solutions, software development, automation, artificial intelligence implementation, business digitalization, and IT consulting. Key global trends have been identified, including rising demand for cloud technologies, generative AI, and cybersecurity services. The export and import dynamics of Ukraine’s IT services for 2019–2023 are analyzed. Before the full-scale invasion, Ukraine’s IT exports showed growth in line with global trends. After 2022, some companies reduced their operations. The majority of provided services consisted of software development and consulting. The import structure is similar, dominated by computer, telecommunication, and information services. About 70% of IT service exports are concentrated in ten countries. Key domestic trends include an increase in the number of market participants (until 2023), predominance of individual entrepreneurs, rapid development of AI companies (117% growth during 2013–2023, with a slowdown after 2022), and substantial growth in product companies (+273%). Ukraine ranks second in Central and Eastern Europe in terms of the number of IT companies, behind only Poland.

Statistical analysis of the impact of “terms of trade” on the trade balance of Ukraine

2025-10-26T22:55:30+00:00

The article reveals the impact of the “terms of trade” on the state of Ukraine’s trade balance. The purpose of the article is to quantitatively assess the impact of the "terms" of foreign trade on the state of the trade balance and on the main export goods of the Ukrainian economy and to develop proposals for eliminating negative consequences. The methodological basis of the study is the determined indices of price and quantitative terms of foreign trade for 2019–2023. A number of important trends in foreign trade have been identified: a negative balance in foreign trade in goods, a fall in prices for leading raw materials of Ukrainian exports. The volumes of losses of trade income from the price factor have been established both for the economy as a whole and for individual commodity groups. Based on the calculations, the conclusion is drawn that the deterioration of the terms of trade has caused a decrease in the purchasing power of exports and significant losses of income of national producers from foreign trade in goods. It is proven that as a result of the deterioration of the terms of trade, the losses of trade income of the Ukrainian economy exceeded 18 billion USD. A quantitative assessment of the impact of changes in the terms of trade indicates chronic deficits in Ukraine's trade balances, which are the result of increased instability of raw material commodity markets, a relative decline in the importance of trade in raw materials, deterioration of the terms of trade and an increase in the scale of exchange inequivalence. It was established that the scale of the fall in prices for raw materials from Ukraine was so great that the losses from them were not covered by the increase in the physical volume of trade. The losses were especially significant for the main export commodities of raw material value and goods with a low degree of processing. As shown by the calculations, for grain crops, financial losses from the deterioration of the terms of trade in 2023 amounted to 2891.1 million USD, for oilseeds and ferrous metals ― 1026.6 and 386.0 million USD, respectively. An assessment of the scale of losses of the Ukrainian economy from the price factor confirms the unfoundedness of further increasing the physical volume of exports of raw materials and goods with a low level of processing. This requires a reorientation of the foreign trade strategy towards abandoning the increase in exports of raw materials, which leads to significant losses of trade income and poses a threat to the stability and economic development of the country.

Development of managerial competencies in virtual communities: experience of managing Minecraft clans

2025-10-26T22:56:26+00:00

This article explores the development of managerial competencies within virtual communities, using the example of Minecraft clan management. The relevance of the study is determined by the growing role of digital platforms in developing management skills among youth and the need to adapt educational programs to new interaction formats. Virtual gaming communities are increasingly becoming environments where future managers can safely and effectively test and apply managerial functions under conditions close to real-world scenarios. The purpose of this research is to identify the specific features of managerial skills development within Minecraft clans and to substantiate the possibility of transferring these competencies to formal management education. Within the framework of the study, a number of tasks were accomplished, including an analytical review on gamification and digital management; empirical observation of the functioning of five active Minecraft clans; identification of core management functions implemented in the game environment; classification of competencies into hard skills and soft skills; and justification of the practical potential of applying these findings in professional training. The methodological framework combines a content analysis of 133 academic sources with four weeks of structured observation of clan activities on open servers. As a result, the article presents a model of applying fundamental management functions (planning, organizing, motivating, controlling, communicating, and decision-making) in a virtual context. A comparative analysis with traditional business management environments is provided, along with a typology of key competencies formed through game-based experience. The scientific novelty lies in integrating gamified managerial practice with classical management theory, positioning Minecraft as an innovative platform for developing the next generation of leaders.

Theoretical and practical problems of implementing energy management at enterprises

2025-10-26T22:59:25+00:00

The relevance of implementing energy management systems (EMS) is related to the rising cost of fuel and resource consumption, as well as the large-scale destruction of national energy supply facilities during the war. Taking into account the requirements of sustainable development, rational use of natural resources and increasing social responsibility in the process of recovery contribute to the formation of EMS at Ukrainian enterprises. The article is aimed at clarifying theoretical concepts, systematising the main problems and directions of their solution in the process of implementation of the energy management system at Ukrainian enterprise. The EMS should be considered as a part of the overall enterprise management system, which has a certain organisational structure, performs managerial functions, duties and powers, procedures, processes, and uses resources to ensure the formation, implementation and achievement of energy saving policy goals. The authors characterise EMS as: 1) technology: on the basis of which energy saving is carried out; 2) energy saving strategy, which is implemented at different levels of management; 3) as a process characterised by making managerial decisions that affect the achievement of the set goals. In the article, the authors define the main tasks, principles, and functions of this system. The EMS is related to quality management (based on ISO 9001) and environmental management. The authors have identified and systematised the directions of solving practical problems in the implementation of the EMS: 1) problems faced by the company's management and specialists of an enterprise due to misunderstanding of the essence of EMS; 2) absence of clearly defined economic mechanisms for ensuring energy saving and material interest in implementation of such measures; 3) absence of data collection systems at enterprises, significant cost of equipment for measuring energy consumption. To solve the identified problems, the article proposes targeted advanced training of managers and specialists in the field of energy saving and implementation of EMS; improvement of training of qualified energy managers.The article emphasises the need to increase the role of energy managers in modern conditions - professionally trained specialists who make managerial decisions and are responsible for energy saving at enterprises.

The importance of a project charter in digital marketing project management

2025-10-26T22:59:20+00:00

The study focuses on the important issue of marketing project management, in accordance with the PMBOK guidelines, which contain knowledge and best practices in project management, as well as the standard that was used as a basis for the development of the international standard ISO 21500. The relevance of the topic is determined by the fact that one of the best practices in project management is to draw up a project charter, which is the main framework document that defines the project goals, stakeholders, key milestones in the project schedule, the main value created by the project, the main risks of the project, and other attributes that are established in the list of best practices. The project charter performs the following functions: official approval of the project by the sponsor (customer), fixing the main parameters of the project, and coordinating the project with stakeholders. The purpose of the study is to compare the functions and significance of the project charter and brief for use in digital marketing. Research methods include a comparative analysis of project management artifacts for use in digital marketing. The main results of the study: it is supplemented that the essence of marketing projects is to fulfill marketing tasks and achieve marketing SMART goals according to the characteristic features of the project - a certain scale, time constraints and budgetary constraints. It has been found that marketing projects can be implemented by both functional and cross-functional teams, according to cascade, adaptive and hybrid methodologies, which are determined by the theory and best practices of project management. It is substantiated that in the course of implementing a marketing project, the main processes, such as planning, execution, and closure, as well as project management artifacts, in particular, the project charter, can be implemented. It is proved that the project charter is an important document that performs a number of functions in project management - it fixes the main project parameters approved by the sponsor (customer), the team, risks, and high-level budget. Thus, this artifact has an important function of harmonizing the relationship between project stakeholders (between the sponsor and the project manager, between the project manager and the team, between the project manager and other stakeholders, and other possible combinations of relationships) in terms of planning, implementing, and completing the project, which helps to avoid conflicts at different stages of the project life.