FINANCIAL AND CREDIT SYSTEMS: PROSPECTS FOR DEVELOPMENT

Assessing the ecosystem readiness for AI adoption in Uzbekistan's banking sector: a multi-stakeholder perspective

2025-10-08T10:09:42+00:00

Artificial Intelligence (AI) is increasingly a revolutionary force in global banking, although its use in emerging economies like Uzbekistan is less documented. The banking sector in Uzbekistan is made up of a mix of state and foreign banks in a transitional digital setting.

Problem Statement. Despite government-led efforts at the digitalization of the economy, little is known about the readiness of the banks of Uzbekistan for the adoption of AI technologies, or the strategic priority of such adoptions by different types of banks.

Unresolved aspects of the problem. Existing literature predominantly focuses on AI readiness at the macroeconomic level without specific details regarding the sectoral adoption processes. Empirical analysis integrating digital infrastructure, institutional readiness, and workforce competencies within the case of Uzbekistan's banking is also nonexistent.

Purpose of the Article. This research seeks to evaluate the AI adoption environment in the banking industry of Uzbekistan through the integration of various data sources in order to assess regulatory, technological, and human capital preparedness, along with visible implementation trends.

Presentation of the Main Material. The approach adopts a multi-source exploratory method, including Oxford Insights AI Readiness Index (2024) research, web scraping of bank websites for AI disclosures, and investigating labor market activity on platforms like Telegram, LinkedIn for AI-skilled personnel presence. The use of Playwright and BeautifulSoup in a Google Colab environment enabled successful keyword-based surveillance of publicly available AI-related projects.

Conclusions. The results indicate a split landscape: state banks focus on back-office automation while foreign banks are more likely to experiment with customer-facing AI solutions. With national digital agendas still unfolding, AI talent shortages, infrastructural limitations, and relative opaqueness persist. Based on this evidence, policy suggestions for AI planning and banking innovation in developing economies are presented.

Methodological justification of state regulation and self-regulation of the development of the banking sector and its financial security

2025-10-08T10:09:42+00:00

The modern banking sector is developing under conditions of global challenges, digital transformation, and intensified integration into the global financial space. Its key characteristics include the growing role of macroprudential policy, the necessity of ensuring financial stability, and the formation of a balanced combination of state regulation and self-regulation mechanisms.

Problem statement. Traditional regulatory and administrative approaches have proven insufficient to prevent crises, as evidenced during financial shocks and especially under the conditions of Ukraine’s wartime economy. This highlights the need for a methodological justification of a modern supervisory system that combines state control with institutions of self-regulation.

Unresolved aspects of the problem. Despite the implementation of Basel III standards, FSB recommendations, and DORA provisions, unresolved issues remain in the Ukrainian banking sector, including the harmonization of international requirements with national specifics, ensuring the institutional independence of the National Bank of Ukraine, and the development of effective banking associations.

Purpose of the article. To formulate a comprehensive methodological framework that combines state regulation and self-regulation of the banking sector in order to safeguard its financial security and resilience to crisis challenges.

Presentation of the main material.The article summarizes classical and modern scientific approaches (Diamond-Dybvig, Stiglitz-Weiss models, Allen-Gale’s contagion concept, and C. Borio’s macroprudential developments) and analyzes the National Bank of Ukraine’s experience with implementing SREP, stress testing, and cybersecurity measures. It substantiates three methodological approaches-systemic, integrative, and risk-based. Key components of the methodology are identified: the regulatory and legal framework, institutional structure, supervisory instruments, corporate governance and self-regulation standards, technological infrastructure, and the regulator’s human capital.

Conclusions. The synergy of state regulation, self-regulation, and risk-based supervision constitutes the foundation of the resilience of Ukraine’s banking sector. It will contribute to enhancing investment attractiveness, strengthening financial security, and integrating Ukraine into the European and global financial space.

Prospects for the implementation of Global Internal Audit Standards in the banking sector of Ukraine: adaptation to international requirements and national realities

2025-10-08T10:09:42+00:00

Internal audit in banks is a key tool for enhancing the efficiency and resilience of the banking system, providing an independent assessment of governance, control, and risk management systems. The activities of internal audit units are regulated by international standards, particularly the Global Internal Audit Standards (GIAS) 2024, adapted to the Ukrainian context.

Problem statement. Under conditions of economic instability and external challenges, including martial law, the harmonization of national approaches to internal audit with international standards has become especially relevant, as it will improve control efficiency, transparency, and trust in the banking system.

Unresolved issues. Despite the existing regulatory framework, problems remain in resource provision, staff qualification levels, implementation of modern audit technologies, and the readiness of bank management to actively cooperate with internal audit units. The adaptation of GIAS to the public sector also remains insufficiently explored.

Purpose of the article. To substantiate the prospects for implementing the GIAS 2024 in the Ukrainian banking sector, considering international experience, national regulatory specifics, and current financial security challenges.

Main material. The article presents a comparative analysis of the structure and content of the GIAS 2024 and previous standards, highlighting the five domains of the new standards, their principles, requirements, and implementation guidelines. The difficulties of adapting the requirements - particularly in resource provision, communication with supervisory boards, and the introduction of KPIs for evaluating audit effectiveness—are analyzed. Practical aspects of implementing new procedures are identified, including strengthening the role of internal audit in risk management systems and supporting the digital transformation of banks.

Conclusions. The implementation of GIAS 2024 in the Ukrainian banking sector has the potential to significantly improve the quality of internal control, align with international standards, and strengthen investor confidence. Successful realization requires methodological guidelines, a clear system of performance indicators, updated internal bank regulations, adequate financial and human resources, and integration of the standards into the daily practice of internal auditors.

Conditions and determinants of digital transformation of financial services market participants

2025-10-08T10:09:42+00:00

The country's financial system is considered to be the true heart of the national economy, ensuring effective cash flow management and financial and economic stability, facilitating investment and creating conditions for its further development.

Problem statement.The financial sector is characterized by constant transformations, which are driven, among other things, by the country's gradual transition to a digital economy. This creates a need for financial services market participants to transform their business processes based on the active implementation and advanced use of digital technologies.

Unresolved aspects of the problem. The theoretical basis of the study is the work of modern foreign and domestic researchers devoted to the study of the impact of digitalization processes on the functioning of the economy and its financial sector, as well as certain aspects of digital transformation at different levels of socio-economic systems.

Purpose of the article. The purpose of the study was to identify key markers of the development of fintech companies in Ukraine and to build a deterministic conceptual model of digital transformation of financial services market participants.

Presentation of the main material. The object of the study is the financial sector of Ukraine's economy and financial services market participants, in particular, fintech companies. The article examines certain indicators of the functioning of financial banking and non-banking services market participants in Ukraine in the context of the country's strategic course towards digitalization. The determinants are identified and a determinant conceptual model of digital transformation of financial services market participants is built.

The study used statistical and dynamic analysis methods, methods of logical generalization, and applied a deterministic approach to building a conceptual model of digital transformation of financial services market participants.

Conclusions. Based on open analytical materials, the key markers of the development of fintech companies in Ukraine are identified in terms of parameters characterizing their human resources, the spread of the Internet and innovations, the level of digital quality of life, the contribution of IT services to GDP, the dynamics of the number of market participants, their financial condition and performance, localization and access to the global arena. The determinants of digital transformation are identified, namely: digital context, digital adoption, digital vision, digital competence, digital management, and digital maturity. The conducted research creates the basis for making and implementing management decisions at the level of individual participants in the financial services market regarding the digital transformation of activities.

Strategic asset management in the system of enterprise finance

2025-10-08T10:09:42+00:00

Strategic asset management is gaining particular importance for ensuring the financial stability and long-term development of enterprises in the context of increasing complexity of the business environment, limited resources, and rapid technological change. A strategic approach to asset management enables organizations to build sustainable competitive advantages by aligning investment decisions, the technical condition of assets, and the organization’s strategic objectives.

Problem statement. The lack of a systematic approach to asset management reduces resource efficiency and limits organizational adaptability to external challenges. Current research often presents asset management in a fragmented manner, with insufficient integration into broader corporate strategy.

Unresolved issues. Key areas requiring deeper investigation include limited use of digital technologies in asset management, weak interdepartmental communication, financial resource shortages, and the absence of environmental considerations in strategic planning.

Purpose of the research. The purpose of the research is to substantiate the conceptual foundations of strategic asset management as a basis for enhancing financial efficiency and generating long-term competitive advantages.

Research results. The research identifies the key components of the asset management process, substantiates the theoretical foundations of the strategic approach, and outlines the main challenges and promising directions for its development. Particular emphasis is placed on the role of modern digital tools in building asset management systems, data analytics, and monitoring and controlling the asset life cycle. The main challenges identified include inefficient resource utilization, funding shortages, limited strategic planning, low innovation capacity, and regulatory complexity. The study highlights the importance of data integration in strategic planning and the development of effective interdepartmental communication, especially in light of the complexities of digital monitoring and the need to implement sustainable development practices.

Conclusions. Conclusions emphasize the importance of developing long-term asset management strategies that are adaptable to changes in the external environment. Modern strategic asset planning tools should ensure financial resilience, organizational flexibility, and support sustainable development. The research defines the key components of a strategic asset management system, substantiates the interests of various stakeholder groups in the planning and implementation of a strategic asset management plan, and proposes promising directions for further development.

Volatility on stock exchanges and its impact on transformations in the financial services market

2025-10-08T10:09:42+00:00

In modern global economy, stock market volatility has become one of the decisive factors shaping the financial services market. Exchange rate fluctuations not only affect asset valuation, but also investment decisions, risk management mechanisms, and the strategic development of financial institutions.

Problem statement. Despite significant research on volatility measurement and forecasting, there is insufficient analysis of how volatility drives structural transformation of the financial services market, especially under conditions of geopolitical instability, technological progress, and financial digitalisation.

Unresolved aspects of the problem. The interdisciplinary connection between volatility, financial innovations (cryptocurrencies, Big Data, AI-driven analytics), and transformations of financial services remains underexplored. Knowledge gaps concern the interaction of global spillover risks, geopolitical shocks, and the adaptive capacity of financial institutions.

Purpose of the article. The study aims to identify how stock exchange volatility influences transformations in the financial services market and to propose strategies for adaptation under instability and uncertainty.

Presentation of the main material. Using an interdisciplinary approach, the article combines theoretical analysis, systemic modelling, and review of empirical studies. It shows that volatility manifests through spillover effects across interconnected markets, amplified by geopolitical risks, and intensified by digital innovations such as algorithmic trading and cryptocurrencies. The author highlights the growing role of machine learning and AI in forecasting volatility, while emphasizing the limitations of algorithmic tools and the importance of combining them with expert financial analysis. Special attention is given to regional disparities, third-party risks, and the need for hybrid analytical platforms integrating local and global expertise.

Conclusions. Volatility is both a challenge and a driver of transformation in financial services. It accelerates the introduction of new technologies, changes risk management approaches, and demands new regulatory and analytical frameworks. A hybrid model combining digital tools and human expertise can mitigate risks, improve resilience of financial institutions, and expand access to financial services in underdeveloped markets. The results provide a foundation for adaptive strategies and future research on multi-level models of volatility assessment.

Investment activities of non-bank financial institutions: current and future development trajectory

2025-10-08T10:09:42+00:00

In light of Ukraine's significant financial needs for recovery, the investment flows from the traditional banking system are insufficient. Non-bank financial institutions (NBFIs) are becoming critically important for mobilizing long-term capital and specialized financing, transforming into essential pillars of the national reconstruction strategy.

Problem statement. NBFIs, with their diverse structures, have the potential for specialized financing. Their ability to accumulate long-term capital is crucial for rebuilding the national economy.

Unresolved aspects of the problem. It has been established that NBFIs account for 20% of Ukraine's financial assets but face risks from the state of war, low trust, limited access to long-term financing, and regulatory gaps.

Purpose of the article. The purpose of this article is to investigate the current and future development trajectory of NBFI investment activities in Ukraine and to formulate strategic recommendations for enhancing their contribution to economic recovery.

Presentation of the main material. To achieve this goal, analytical, systemic, and comparative approaches were used to assess current challenges, analyze legislative harmonization with the EU, optimize risks, and implement innovative financial instruments. It has been established that NBFIs account for 20% of Ukraine's financial assets but face risks from the state of war, low trust, limited access to long-term financing, and regulatory gaps. The study revealed that harmonization with EU legislation (MiFID II, Solvency II, IORP II, AMLD), optimization of investment portfolios considering dynamic risks (including ESG factors), and the introduction of innovative financial instruments (crowdfunding, green bonds, tokenization) and FinTech solutions are key determinants of their development.

Conclusions. The practical significance of the obtained results lies in the fact that the proposed recommendations will contribute to strengthening Ukraine's financial system, attracting international capital, increasing investor confidence, and ensuring sustainable economic recovery through the expansion of NBFI investment activities. The article substantiates the role of NBFIs as key drivers of Ukraine's post-war recovery and European integration, providing a comprehensive analysis of the interplay between regulatory, risk, and innovative aspects of their investment activities amid unprecedented challenges. Further research should focus on developing a nationwide strategy for the NBFI sector, including product diversification, prioritizing digital transformation, fostering strategic partnerships, investing in human capital, focusing on sustainable sectors, and blended finance mechanisms.

Leveraging artificial intelligence for business performance improvement

2025-10-08T10:09:42+00:00

The object of research is Artificial Intelligence (AI) as a strategic tool for the transformation of modern business processes. The key characteristics of AI in a business context include its ability to process large datasets, automate operations, optimize resources, and create a personalized customer experience, which collectively impacts a company's performance.

Problem statement. In the context of accelerated digitalization, businesses face the fundamental problem of transitioning from a general understanding of AI's potential to its practical integration to achieve measurable financial results. It is necessary to clearly identify and systematize the specific mechanisms through which AI technologies directly affect profitability.

Unresolved aspects of the problem. Despite a significant number of studies on specific aspects of AI application, there is a lack of a comprehensive analysis that would systematize its impact. Additionally, insufficient attention has been paid to developing a practical roadmap for AI integration.

The purpose of the article. The purpose of the article is to systematize the key mechanisms of Artificial Intelligence's influence on business performance and to develop a structured approach for its strategic implementation to maximize profitability.

Presentation of the main material. The study employs a systematic analysis method to structure AI's impact on business through the "dual-engine" model. Tools such as intelligent automation, predictive maintenance, dynamic pricing, and hyper-personalization are examined. Case studies of leading Ukrainian companies have been analyzed.

Conclusions. It is established that AI acts as a profitability catalyst, synergistically affecting both the reduction of operational costs and the acceleration of revenue growth. It is substantiated that successful integration requires a clear strategy, a phased approach and cultural adaptation. The absence of an AI strategy in the modern business environment is a conscious choice in favor of losing a competitive advantage.

Theoretical and practical principles of accounting and analytical support for investment project management

2025-10-08T10:09:42+00:00

A modern enterprise carries out various business operations, in particular those related to investing in projects. Therefore, an important condition for effective management decision-making is the formation and work on accounting and analytical support for these processes.

Problem statement. In modern literature, various scientific concepts are used, such as accounting and analytical information, information and accounting system, accounting and analytical system, information and accounting support, accounting and analytical support, etc., which quite often have much in common and do not contain distinctive characteristics. This also fully applies to the accounting and analytical support of the management of investment projects of an enterprise in the theoretical and practical plane.

Unresolved aspects of the problem. The sequence of use and the connection between the above scientific categories, accounting and analytical support of the process of making managerial decisions has not been established.

The purpose of the article is to analyze and derive patterns regarding the theoretical and practical principles of accounting and analytical support of the management of investment projects of an enterprise.

Presentation of the main material. Based on the results of the research, a scheme of accounting and analytical support of the process of making managerial decisions with the allocation of input and output information flows and the division of accounting into financial and managerial. The author's interpretation of the scientific category of accounting and analytical support for investment project management is presented. A list of information and communication technologies and their characteristics are given to increase the efficiency and efficiency of the accounting and analytical support of investment project management. The levels of artificial intelligence support in investment project management are given, with the distinction of levels of automation, assistance and addition.

Conclusions. The presented study made it possible for the first time to substantiate and provide a definition of accounting and analytical support for investment project management, which fully reflects the current state of this issue. The presented scheme of accounting and analytical support for the process of making managerial decisions in combination with information and communication technologies (artificial intelligence, machine learning, big data, cloud technologies) will ensure the prompt and effective implementation of accounting and analytical work, increase the practical orientation of the received initial data for the formation and implementation of the strategic and tactical goals of the enterprise regarding investment project management.

Modelling financial results based on “green” budgeting principles

2025-10-08T10:09:42+00:00

Contemporary challenges arising from the global environmental crisis, the transition to a low-carbon economy, economic instability and digital transformation necessitate a rethinking of approaches to financial planning in enterprises.

Problem statement. Modelling the financial results of enterprises based on the principles of “green” budgeting makes it possible to combine economic goals with environmental and social objectives. Such an approach meets the requirements of ESG standards and the challenges of European integration processes.

Unresolved aspects of the problem. Scholarly research focuses on various directions in the development of budgeting: improving enterprise budgeting systems, applying HR- and gender-oriented approaches, integrating instruments of controlling, strategic management, investment project evaluation, crisis management and ensuring financial security.

Purpose of the article is to substantiate and develop a model for forecasting an enterprise’s financial results, integrated with the principles of “green” budgeting, which ensures a balanced combination of financial goals and environmental standards, promotes resource optimisation, and enhances business competitiveness.

Presentation of the main material. The object of the study is the system of strategic financial planning of the enterprise, considered from the perspective of integrating environmentally oriented investments, energy efficiency projects, and the implementation of renewable energy sources into financial strategies.

Conclusions. The proposed model provides for the allocation of financial resources with consideration for investments in energy-efficient technologies, decarbonisation projects, the implementation of renewable energy sources, and waste management systems. This contributes to reducing operating costs, optimising resource use, and strengthening the enterprise’s environmental reputation. The assessment of financial and economic indicators, taking into account ESG principles, confirmed that “green” budgeting not only improves key financial metrics (profitability, liquidity, asset turnover) but also enhances non-financial indicators related to environmental and social responsibility.

The practical value of the work lies in providing recommendations for integrating “green” budgeting into the strategic management system, which can be used by enterprises across various sectors to improve financial stability, environmental performance, and social responsibility.

The results obtained can serve as a basis for developing sector-specific methodological guidelines and adapting international ESG standards to the realities of the Ukrainian economy.

SWOT analysis of the international freight road transport sector of Ukraine

2025-10-08T10:09:42+00:00

In ensuring the free movement of goods between Ukraine and its external partners, in particular the EU, the sphere of international freight road transportations of Ukraine plays an important role.

Problem statement. SWOT analysis can be used to study its external and internal environment.

Unresolved aspects. A SWOT analysis matrix of the sphere of international freight road transportations of Ukraine has been constructed.

Purpose of the article. The purpose of the article is to identify the strengths and weaknesses, as well as opportunities and threats of the sphere of international freight road transportations of Ukraine.

Main material. A number of important advantages have been identified: convenient geographical location of the state; extensive network of highways; experienced carriers; competitive cost of services; access to European markets. A number of weaknesses have been identified: unsatisfactory condition of a significant part of the infrastructure; shortage of qualified drivers; difficulties with processing documents and obtaining permits for international transportations; technical condition of the fleet; low level of digitalization; corruption.

The following opportunities have been identified: expanding cooperation with the EU; investments in modernization; growing demand for transportations; integration with new markets in Central Asia, the Caucasus, and the Middle East; introduction of innovations. Certain threats have been identified: military operations on the territory of the state; increased competition from carriers from neighboring countries; lack of sufficient funding to comply with EU environmental standards; economic instability; restrictions on border crossing.

Conclusions. For the further development of the international freight road transportations sector in Ukraine, it is advisable to apply the “Mini-Maxi” strategy, which is aimed at minimizing internal weaknesses based on the use of external opportunities.

The nexus between monetary base and government debt - empirical evidence from Algeria

2025-10-08T10:09:42+00:00

The complex interplay between monetary and fiscal policies is crucial for macroeconomic stability, especially in emerging economies like Algeria. Algeria's heavy reliance on oil revenue adds a unique layer of complexity, as global oil price fluctuations significantly impact government finances. This study investigates the relationship between the monetary base and government debt, a crucial aspect of understanding how fiscal and monetary policies interact in this context.

Problem statement. This study aims to analyze the relationship between the monetary base (M1) and government debt in Algeria, examining how this nexus influences the effectiveness of both fiscal and monetary policies.

Unresolved aspects of the problem. The unresolved issues in our work is the real dynamics between fiscal and monetary policies in the side of government debt management.

Purpose of the article. By understanding this relationship, the study aims to provide valuable insights for policymakers regarding potential consequences of their decisions and the importance of coordination for achieving long-term macroeconomic stability.

Presentation of the main material. The study employs a time-series econometric approach using the Autoregressive Distributed Lag (ARDL) model. This approach allows for the analysis of the long-term cointegration between the monetary base and government debt, using data from 1990 to 2024. The analysis also incorporates a simulation using MATLAB to visualize the relationship between the two variables over a 20-year horizon.

Conclusions. The results of the ARDL analysis indicate a statistically significant negative relationship between lagged government debt and M1, suggesting that higher government debt levels in the previous period lead to a decrease in the monetary base in the current period. This finding suggests that Algeria's non-Ricardian fiscal policy, which relies on increasing public debt ratios to satisfy budgetary constraints, has a notable impact on the monetary base. The simulation results further illustrate the short-term effects of government debt on Algeria's monetary base, emphasizing the need for careful coordination between fiscal and monetary policies to ensure long-term macroeconomic stability.

The effect of Eurozone carbon futures price on stock market price performance

2025-10-08T10:09:42+00:00

The contemporary central role of carbon compliance in business operations on financial markets is garnering impetus with expansions in carbon compliance.

The objective of this paper is to examine the effect of Eurozone Carbon Futures Market (Carbon Emissions Futures [CFI2M5]) price on EU Stock Market (Euro Stoxx 50 - STOXX50E) Price Performance.

Problem statement. research on the interaction between the Carbon Emissions Futures Market and the financial market is growing with diversity of findings among researchers from different economic regions.

Purpose of the article. The goal of this article therefore is to evaluate whether the price of Carbon Futures market affects the price of conventional stock market, the magnitude and the direction of the impact.

Unresolved aspects of the problem. Existing gap in the problem is on the scarcity of focussed research on Carbon Futures price and Stock Market price within the Eurozone, which is the global pace setter of carbon market.

Presentation of the main material. Data for the analysis was collected over a period of 124 days between January and June 2025 for EU Carbon Futures (CFI2M5) and EU stock market (STOXX50E). The data was analysed using the simple regression model.

Conclusions. Findings show a P-value of 0.006, which is lower than the test alpha of 0.05 with regression coefficients of 9.977 which thus indicates a significant and positive relationship. This shows that a 1% increase in the EU Emissions Futures is likely to cause a 9.977 increase in the Euro Stoxx 50 price. The paper provides important implication for corporate decision makers, and Carbon Futures and stock market analysis and participants. It provides an agenda for further research to examine intercontinental variations between carbon futures market and stock market.

Financial crises in historical retrospective: causes, typology, and international implications

2025-10-08T10:09:42+00:00

Financial crises are among the most serious and complex challenges facing the modern global economy, capable of causing deep, prolonged, and widespread negative consequences for both individual national economies and international financial markets as a whole. They undermine investor confidence, lead to sharp declines in asset values, bankruptcies of financial institutions and companies, rising unemployment, as well as slowing economic growth.

Problem statement. In the context of increasing globalization and the growing interdependence of financial systems across countries, the risks of crisis contagion become particularly significant, emphasizing the need for a thorough understanding of the nature of these processes.

Unresolved aspects of the problem. The absence of a unified theoretical framework for financial crises complicates their timely identification, classification, and the development of effective response strategies, which contributes to their escalation and deepening. Furthermore, the impact of the combination of globalization processes, behavioral factors, and geopolitical risks on the dynamics of crises, as well as typical crisis development patterns across different historical periods, remains insufficiently studied.

The purpose of this article is a comprehensive investigation of the essence of financial crises, their classification, and main causes, as well as an analysis of the most significant crises of the 20^th and 21^st centuries within the context of the evolution of the global economy.

Presentation of the main material. The article examines scientific approaches to defining crises, taking into account their multifaceted nature and diverse manifestations. A classification of crises is proposed based on form, source of origin, mode of propagation, stages of development, and institutional nature. Key factors are highlighted: macroeconomic imbalances, speculation, excessive credit expansion, regulatory gaps, structural changes, international fluctuations, geopolitical conflicts, political instability, and behavioral factors.

The course and consequences of the largest financial crises of the 20th and 21st centuries are analyzed, along with measures for overcoming them. Methods for preventing and mitigating consequences are considered, including the combination of regulatory, monetary, and fiscal tools. Historical experience allows for identifying regularities in crisis occurrence and improving the effectiveness of modern economic strategies.

Conclusions. A comprehensive approach to studying these phenomena is crucial for forecasting, preventing, and reducing the negative impact of crises in the globalized economy.

Motivation of managers of business entities in times of crisis and war: challenges and transformations

2025-10-08T10:09:42+00:00

The article examines the motivational aspects of professional development of managers of business entities in conditions of economic turbulence, crisis and war, when management personnel act as a key resource for maintaining the viability and competitiveness of a business. The object of the study is the motivation system of managers as the basis for their professional growth, adaptability and resilience in extreme circumstances.

Problem statement. The main problem is identified as the transformation of traditional approaches to motivation in crisis conditions, when material incentives largely lose their effectiveness due to limited resources, while intangible factors (value, social, patriotic) acquire leading importance.

Unresolved aspects of the problem. At the same time, the issues of quantitative assessment of the impact of motivational systems on the economic performance of enterprises, the formation of an index of motivational resilience of managers, as well as the study of the latest digital and psychological motivation tools remain unresolved.

Purpose of the article. The purpose of the article is to substantiate the role of motivation in the professional development of managers of business entities in crisis conditions and analyze its impact on the economic efficiency of enterprises. The study used the methods of system analysis, typology, expert assessment, comparative analysis of motivational models and inductive generalization.

Presentation of the main material. The main attention is paid to the identification of types, forms and directions of professional development of managers, the transformation of the structure of motivational factors and their integration into management practice. The results of the study indicate that motivation in crisis conditions acquires a complex character: value, social, work-life balance and existential motivation come to the fore. An effective motivation system should be adaptive, individualized and focused on a combination of material and non-material incentives. This has theoretical and practical significance in the context of the prospect of creating an effective system of motivation for managers. A direct economic effect of managers’ motivation has been established, which is manifested in increased productivity, reduced costs, strengthened corporate cohesion and increased innovative capacity of enterprises.

Conclusions. It is concluded that an integrated system of motivation for managers in crisis conditions is not only a factor in business sustainability, but also a guarantee of the country's economic recovery.

Business management in Ukraine in the context of the digital economy and wartime challenges

2025-10-08T10:09:42+00:00

Business management in the context of the digital economy and military challenges is of particular relevance to Ukraine. The object of the study is the transformation of management processes of domestic enterprises under the influence of digitalization and crisis factors.

Problem statement. The problem lies in the significant digital divide between large businesses and small and medium-sized enterprises, the insufficient level of digital competencies of managers and employees, as well as cybersecurity risks and imperfect regulatory frameworks.

Unresolved aspects of the problem. The issues of forming comprehensive models for assessing the effectiveness of digital transformation, taking into account industry-specific features, and integrating public digital services into business processes remain unresolved.

Purpose of the article. The purpose of the article is to study the peculiarities of business management in Ukraine in the context of the digital economy and military challenges, and to identify the key risks and prospects for the digital transformation of enterprises.

Presentation of the main material. The article uses a combined approach that combines the analysis of scientific sources, statistical data and practical cases of Ukrainian and foreign companies. The author examines the impact of digital technologies on management decisions, organizational flexibility and business competitiveness. Particular attention is paid to the role of public policy, development of digital competencies of personnel, and adaptation of international experience to the conditions of the military crisis.

Conclusions. The results show that digitalization helps to increase productivity, optimize business processes, form new models of interaction and integrate Ukrainian enterprises into global markets. The practical significance of the study is to develop recommendations for entrepreneurs and government agencies on digital transformation strategies in times of war.

Evolution of management theories in the context of business communication

2025-10-08T10:09:42+00:00

This paper explores the evolution of management theories and their impact on business communication, focusing on the shift from rigid, hierarchical systems to adaptive, technology-enabled models. The research object is the dynamic relationship between managerial paradigms and communication strategies within organizations.

Problem statement. Although management theory and organizational communication are well-studied, the integration of classical principles with the demands of today’s digital, globalized business environment remains insufficiently examined.

Unresolved aspects of the problem. Limited research addresses the adaptation of traditional models to digital contexts, the embedding of emotional intelligence into technology-mediated communication, and the influence of sustainability narratives on stakeholder relations.

Purpose of the article. The study aims to trace the progression of management theories in relation to business communication and to propose ways of integrating foundational principles with contemporary innovations.

Presentation of the main material. Employing a qualitative approach, the research synthesizes peer-reviewed literature, corporate case studies, and industry reports. It follows the historical path from Scientific Management and Administrative Theory to the Human Relations Movement, Systems Theory, and Contingency Theory, culminating in the digital era’s emphasis on AI-driven tools, virtual collaboration, and cross-cultural competence. Findings reveal that while clarity and structure remain essential, adaptability, empathy, and technological integration are now critical for effective communication.

Conclusions. The results show that communication strategies must evolve alongside management paradigms to ensure organizational resilience. The study offers a framework for leaders to enhance collaboration, decision-making, and stakeholder trust. Future research should focus on AI ethics, neuroscience-based communication, and sustainability-oriented engagement.