FINANCIAL AND CREDIT SYSTEMS: PROSPECTS FOR DEVELOPMENT

Improving the process of management and evaluation of the bank's personnel

Nataliia Iziumtseva — 2024-12-30

The article examines the improvement of the process of evaluating the personnel of commercial banks, the relevance of which is due to the modern challenges of management development in the conditions of the constant development of technological innovations and economic changes. A modern approach to bank personnel management requires effective personnel management, as qualified and motivated specialists are the basis for the competitiveness of any organization, including a bank. In the conditions of innovative transformation, it is the digitalization of banking services that requires adaptation in the field of management. Digitization and automation of processes in banks create new challenges for the personnel management and evaluation system, necessary adaptations to innovative technologies and new formats, and methods of interaction, both with the client and with colleagues. The development of competences in the field of digital technologies, analytical thinking, and adaptability to the process of continuous learning becomes important.

The meta-research was carried out in the general theoretical foundations of the organization and evaluation of the bank's personnel, the analysis of evaluation practices and the development of recommendations for improving the effectiveness of personnel management. The object of the study is the process of bank personnel management in commercial banks. Research methods used in the work include theoretical generalization to study and systematize theoretical approaches to evaluation and personnel management; a systematic approach to analyzing the management structure; a graphic method for the purpose of summarizing statistical data and their analysis; mathematical statistics and modeling - for calculating the main indicators with the calculation of their further evaluation and interpretation. According to the results of the research, the key barriers to effective personnel evaluation were determined, the obsolescence of traditional methods, insufficient understanding of the importance of evaluation, and the adaptation of the system to new digital tools was observed. Recommendations for the use of digital solutions to increase the objectivity, transparency, and flexibility of evaluation are offered.

The practical value of the obtained results of the sector leads to the formation of stable and systematic methods of research aimed at increasing the productivity of employees, identifying areas of development and growth, to increase their competencies and competitiveness in the conditions of dynamic changes in the banking fund.

Conceptual changes in banking sector architecture in modern conditions

Oleksandr Tkachenko — 2024-12-30

Introduction. Modern trends in globalisation and digitalisation have a significant impact on the architecture of the banking sector, requiring the adaptation and transformation of traditional banking models. The rapid development of financial technologies, the growing popularity of cryptocurrencies, changing regulatory requirements, and changes in consumer behaviour require a review of the conceptual framework of banking institutions.

Purpose, objectives and research methods. The purpose of this study is to determine the conceptual changes that are taking place in the architecture of the banking sector under the influence of modern technological, economic and social changes.

The object of the study is the banking sector as part of the financial system, which is undergoing changes under the influence of global economic processes, innovative technologies and regulatory reforms.

The study used such methods as comparative analysis and system analysis. To obtain qualitative results, an analytical review of financial and economic literature and the regulatory framework on the architecture of the banking sector was conducted.

Research results. The study showed that the modern architecture of the banking sector is undergoing significant changes under the influence of digital technologies and innovations. One of the key trends is the integration of financial technologies, which allows banks to optimise their operational processes, increase the efficiency of risk management and improve the quality of customer service. Banks are actively implementing artificial intelligence to automate processes, blockchain to increase transparency and security of transactions, and big data to analyse customer behaviour and make decisions. At the same time, new challenges arise from cybersecurity, regulatory changes, and competition from non-bank financial institutions.

The practical value of the results is that the analysis allows banking institutions and regulators to adapt to new conditions more effectively. The findings can be used to optimise banking activities, improve internal processes, develop new financial products and strengthen resilience to risks arising from constant changes in the market.

Conceptual changes in the banking sector's architecture are defining new approaches to management, development strategy and service delivery. Digitalisation has become an integral part of banking activities, forcing banks to review their business models and actively invest in technological innovations.

System for ensuring the financial security of the enterprise

Galyna Azarenkova — 2024-12-30

The aim of this study is to conduct a retrospective and current analysis of scientific publications on the issues of managing the financial security system of an enterprise, its optimization and improvement at the international level, based on the use of the Scopus scientometric database, the formation of a map of interconnections with other sciences and lexemes, and the creation of cluster maps using the VOSviewer v.1.6.15 tool. The main focus of the research is on identifying the relationships between the key concepts of "financial security," "finance," and "financial security system," as well as determining their theoretical and methodological foundations in the context of enterprise activities. The obtained results can be used to improve the financial security systems of enterprises and integrate them into the overall corporate governance system. The research conclusions emphasize the need to comply with legislative requirements and ethical standards in the financial sector. Additionally, the results may contribute to the development of new approaches to creating financial security standards, ensuring stability and reliability for enterprises in a changing economic environment.

Accounting and analytical support of budgeting with the purpose of achieving its flexibility and performing a control function in the process of financial forecasting

Natalіa Іershova — 2024-12-30

In conditions of global instability, the attention of leaders and senior management is focused on forecasting and planning, which expands the horizons of vision of possible prospects and risks. Budgeting is an element of forecasting and requires the use of accounting and analytical information from the company's accounting system. The purpose of the article is to improve accounting and analytical support for budgeting in order to achieve its flexibility and perform a control function in the financial planning process. The object of research is budgeting procedures. The dialectical method of cognition in interaction with the system approach, methods of expert assessment and questionnaires was chosen as the methodological basis of the research, which ensured a combination of developments in the field of accounting, economic analysis, control and budgeting for the needs of management. The article presents the results of a survey of heads and managers of enterprises regarding the goals of budgeting; a survey of enterprise accountants was conducted to determine best practices for forecasting and control based on budgeting. Priority tasks of budgeting, difficulties encountered in the process of its preparation and implementation are determined. Based on the processing of statistical information, the article provides an analysis of the gross operating income, elements of income and expenses of Ukrainian enterprises. The importance of income and expense analysis for budgeting purposes was confirmed by further survey results of enterprise accountants. A key observation in this study is that the overall performance of an enterprise will improve if budgeting is used correctly. For this purpose, the relationship between long-term plans and budgeting is presented. Systematized factors that must be taken into account when forecasting the company's budget. Methodological approaches to the organization of the budgeting process at the enterprise are presented, which ensure coordination in the budgeting process, flexibility with a focus on expectations. Of practical importance to managers and accountants are several ideas on how to achieve better integration between the accounting system and budgeting to improve the overall efficiency of the enterprise.

«Green» taxation of enterprises as a key financial instrument of eco-innovation in Ukraine

Tetiana Samaricheva — 2024-12-30

The article examines the role of «green» taxation as an effective instrument of the state environmental policy used to achieve a number of goals, including reducing emissions of harmful substances, supporting eco-innovation, and generating additional budget revenues that can be used to finance environmental protection measures. The article considers green taxation in both broad and narrow terms: narrow green taxes are focused on payments for certain types of pollution, while broad ones are aimed at stimulating environmental and economic transformations.

Based on a review of the experience of the European Union and the Ukrainian peculiarities of the green tax system, the article analyses the theoretical and practical aspects of environmental taxes, their classification and role in the implementation of environmental innovations. It is established that in the EU countries environmental taxes play a more significant role in the system of sustainable development due to a clear focus on supporting environmental innovations.

The dynamics of revenues from environmental taxes and its share in the Consolidated Budget of Ukraine for 2019-2023 are analysed, which demonstrate a decrease in the share of environmental tax in budget revenues. The author assesses the dynamics and structure of environmental expenditures in the Consolidated Budget of Ukraine for 2019-2023. The author identifies the problems that hinder the effectiveness of environmental taxation in Ukraine, including the lack of incentive mechanisms, insufficient control over compliance with environmental standards, and limited funding for environmental protection measures.

Ukraine’s position in the Global Innovation Index in 2020-2024 is studied. The key indicators that affect Ukraine's ranking are considered, including the institutional environment, the level of infrastructure development, education, research and development, and access to financial resources.

Recommendations for the introduction of an effective green taxation system that takes into account European standards and the need to adapt national legislation to EU requirements in the context of European integration are proposed. The author substantiates the need to improve the Ukrainian system of environmental taxation, in particular by expanding the tax base, increasing the rates for polluters and introducing a system of incentives for enterprises using «green» technologies.

The mechanism of applying the risk management system in post-customs control as an element of Euro-integration reforms

Sergii Popel — 2024-12-30

The current stage of development of the domestic customs administration is characterized by the need to adapt national legislation to the standards of the European Union. One of the priority areas of customs policy reform is the harmonization and simplification of customs procedures through the implementation of risk management systems at various stages of customs control. One of the modern tools of customs control that allows to ensure this is post-customs control. The process of introducing post-customs control into the practical activities of customs authorities in Ukraine today is in the initial phase of development, therefore the mechanism of applying the RMS for decision-making regarding post-customs control still has many uncertainties and problematic aspects. What makes it necessary to study the mechanism of application of the risk management system for the purposes of post-customs control.
The purpose of the paper is to conduct a comprehensive structural study of the main elements of the external and internal subsystems of the mechanism for applying the Risk Management System in the field of post-clearance control.
The methodological foundation of the research is the use of a combination of general scientific and specialized research methods, namely: synthesis and analysis, deduction and induction, abstraction, dialectical cognition (when determining the current state of the application of the Risk Management System in the field of post-clearance control); modeling (for building the mechanism of applying the Risk Management System for post-clearance control purposes); systematization (for studying the external and internal subsystems of the mechanism for applying the RMS for post-clearance control purposes as an integral set of elements within the relationships between them); logical generalization (when preparing conclusions to form proposals for improving the effectiveness of post-clearance control in the context of applying the Risk Management System).
The scientific article presents the following results: a mechanism for applying the Risk Management System for post-clearance control purposes was built, and the main elements of its external subsystem (principles, factors, levers of managerial influence, functions, etc.) were studied. It was noted that the fundamental component of the external subsystem of the mechanism, which will actually ensure the proper functioning of the mechanism, is the regulatory and legal support, as well as the strategic, long-term support of its implementation and development by the leadership of the State Customs Service and the Ministry of Finance of Ukraine. The internal subsystem of the mechanism was analyzed, and the peculiarities of its functioning in Ukraine were identified.
As a result of the study of the mechanism of applying the Risk Management System for post-clearance control purposes, directions for its improvement were proposed.

Main directions of development of innovative business financing in Ukraine

Borys Samorodov — 2024-12-30

The article examines the loan market for Ukrainian businesses, highlighting key factors such as demand, supply, external environment, loan portfolio characteristics, and results from previous periods. These factors collectively shape the state of the business loan market, influencing the development of innovative entrepreneurship in Ukraine. The challenges posed by Basel III requirements, such as increased costs for long-term loans, are discussed, revealing the limited availability of project financing. Despite high demand for innovative business financing, the absence of a centralized government agency to coordinate efforts remains a significant barrier. A comprehensive loan market index is proposed to assess the state of financing for innovative businesses, incorporating supply-demand dynamics, external factors, and historical performance. This index enables qualitative evaluation and informs policy development to support entrepreneurship. Several targeted financing programs are outlined, including support for skills and knowledge development, commercialization, prototype creation, and lean manufacturing implementation. Additionally, innovative funding mechanisms such as co-financing and partnerships with microfinance organizations and commercial banks are explored. The study emphasizes the need for centralized coordination and streamlined support systems to address challenges like organizational duplication and unclear program goals. Recommendations include developing a coherent strategy, minimizing regulatory burdens, and leveraging preferential loans for innovative entrepreneurship. These measures aim to enhance access to financial resources, foster innovation, and drive sustainable economic growth in Ukraine.

"Golden Intersection" in performance indicators of higher education institutions of Ukraine

Olesia Totska — 2024-12-30

The domestic system of higher education is obliged to ensure quality, transparency and mobility. The purpose of the article is to identify the “golden intersection” in the indicators of the quality of the provision of educational-scientific services by higher education institutions (HEIs) of Ukraine based on automated ABC analysis. The methodology for conducting automated ABC analysis using the Microsoft Excel spreadsheet processor has been developed; an ABC analysis of the quality indicators of the provision of educational and scientific services by HEIs of Ukraine was carried out in terms of the total number of prepared prize winners of the All-Ukrainian student olympiad and the All-Ukrainian contest of student scientific works; the hypothesis about the existence of a “golden intersection” in quality indicators of the provision of educational and scientific services by HEIs of Ukraine was tested.
Group A included 84 HEIs of Ukraine (38.53% of the total number), which had from 15 to 146 prize winners. The accumulated share of prize winners of this group of HEIs in their total number was 80.97%. Group B included 56 HEIs of Ukraine (25.69% of the total number), which had from 7 to 14 prize winners. Their contribution to the total number of prize winners was 14.19%. Group C included 78 HEIs of Ukraine (35.78% of the total number) with the number of prize winners from 1 to 6. The share of graduates from HEIs of this group in the total number was 4.84%.
In order to test the hypothesis of the existence of a “golden intersection”, it was assumed that HEIs from groups B and C would have a larger value, HEIs from group A would have a smaller value. The ratio of 134/84 HEIs was obtained. The calculated values turned out to be extremely close to the reference “golden” number φ=1.618.

Instrumental strategies for currency risk assessment in the bank risk management system

Yuliya Kolomiiets — 2024-12-30

Currency risk is one of the dominant risk factors that financial institutions constantly face, especially in the context of globalisation and integration of financial markets. Its relevance is significantly increased by the high volatility of exchange rates, political instability and other macroeconomic turbulences that characterise the modern economic environment. Inadequate assessment and management of foreign exchange risk can lead to significant financial losses for a banking institution and, in some cases, to its failure.
Modern trends in the development of financial markets, such as the growing role of unstructured data and new technologies, require the development of new methodological approaches to currency risk assessment. At the same time, the existing arsenal of tools needs to be further developed. The use of more complex and accurate models will enable banks to manage their currency risks more effectively and increase their resilience to external shocks.
The objective of the study is to develop a comprehensive approach to currency risk assessment based on modern instrumental forecasting methods, in particular time series analysis methods, factor analysis, regression analysis and neural networks in the bank's risk management system in the context of digitalisation.
The results of the study demonstrate the effectiveness of the proposed approach. Factor analysis and regression analysis were used to identify the key factors influencing the dynamics of the main currencies, namely the euro, US dollar and pound sterling exchange rates. The constructed neural networks allowed the generation of reliable forecasts of exchange rates, which is a necessary condition for effective currency risk management in the risk management system. The results obtained can be used by banks to develop effective modelling of behavioural scenarios under risk and to develop successful hedging strategies.

Peculiarities of the functioning of the financial services market, taking into account the hypothesis of an efficient market and behavioral effects

Maryna Ivashchenko — 2024-12-30

Analysis and understanding of financial market principles are important for effective financial management both for individual investors and for the economy at the national and global levels. One of the key theoretical approaches to the study of financial markets is the efficient market hypothesis (EMH), according to which asset prices reflect all available information at once, so it is impossible to obtain excess profits using only public information. At the same time, the research focuses more on the influence of behavioral factors, which emphasize the role of psychological and emotional aspects in making investment decisions. The purpose of the article is to study the peculiarities of the functioning of the financial services market, taking into account the hypothesis of an efficient market and behavioral effects, as well as to identify the impact of psychological factors on investment decision-making and market dynamics. The object of research is the behavior of financial market participants. A number of research methods were used in the work on the research: analysis of scientific sources, research of historical data of the financial services market, statistical methods, quantitative analysis of behavioral effects and models of behavioral economics.

The "December rally" effect has been studied and described as a phenomenon where financial markets, particularly stock markets, tend to show positive changes during December, and the January effect, when financial markets tend to show certain patterns or changes during January, the first month of the new year. The impact of the "Santa Claus Rally" effect is summarized, which describes a significant and rapid increase in market prices and indicates a rapid increase in stock indices during the New Year holidays. Statistical trends related to the day-of-the-week effect on stock exchanges have been identified, including explanations for fluctuations at the beginning of the week (Monday) and at the end of the week (Friday).

The cyclicality of the stock market is described depending on the presidential elections in the country and the following years, when the stock markets show certain regularities during the four-year election cycle in the USA. Numerous cases have been identified that indicate that the financial market is also largely dependent on the actions and statements of influencers due to their influence on investor sentiment, the formation of expectations and the direct stimulation of trading activity.

Circular economy impact on global sustainable growth in international industrial business

Olesia Suntsova — 2024-12-30

The increasing environmental threats and limited natural resources have led to a growing focus on sustainable development as a long-term strategy to maintain economic and environmental balance. This study aims to analyze the implementation of circular economy principles in industrial processes, which can improve resource use efficiency and minimize waste and environmental impact. The research method involves reviewing recent scientific articles on the circular economy and analyzing statistical data on industrial businesses that utilize environmental technologies. The study identifies key elements that facilitate the transition to circular production models and highlights the challenges that need to be overcome to achieve sustainable industrial development. The study also aims to identify the obstacles and challenges enterprises face in transitioning to circular production models. The objectives of the study include analysing theoretical approaches to the circular economy and its basic principles, assessing the economic and environmental impact of circular practices on industrial production, and identifying the main challenges industrial enterprises face in implementing circular models.

The study's findings provide valuable insights for governmental initiatives and businesses seeking to integrate circular concepts into their manufacturing practices. The proposed recommendations for improving the efficiency of implementing circular models can be used by industrial enterprises to optimize their production processes. Implementing circular models not only contributes to the economic growth of international enterprises but also improves the environmental situation, positively impacting society as a whole. It helps preserve natural resources for future generations and reduces the industry's impact on climate change.

Changes in competition as a derivative of changes in business models

Ganna Kolomiyets — 2024-12-30

The relevance of the topic of this study is determined by the active process of changes that occur in the business environment and cause the development of digital technologies and the emergence of global marketplaces such as Amazon, eBay, and Alibaba. These platforms, on the one hand, have an impact by providing access to the worldwide market for small and medium-sized enterprises. Still, on the other hand, they transform competitive mechanisms and the environment as a whole, creating new challenges for participants in bilateral markets. Traditional business models, despite their relevance, need adaptation and a new theoretical understanding.
The purpose of the article is to analyze the impact of global marketplaces on competition and determine the structure of this multi-level interaction mechanism. The object of the study is the interaction between global marketplaces and traditional business models, as well as their impact on the competitive behavior of enterprises in the conditions of the modern digital market.
The methodological basis of the research is the analysis of recent scientific articles, empirical studies, and examples that allow us to obtain a general understanding of new market dynamics in modern conditions. The results show that competition in marketplaces has a complex multi-level character. The competitive structure includes macro, meso, and micro levels with technologies dominating each. The integration of digital technologies, process optimization, and the use of big data are key drivers of competitive advantages.
The research conducted a general analysis of the structure of competition on global marketplaces such as Amazon, Alibaba, and eBay, which revealed its multi-level nature. Special attention is paid to the influence of digital technologies at various levels. A digital business model was determined and the results were systematized in the form of diagrams and drawings for a better understanding of the structure and dynamics of competition. Changes in business models are explained as derived from changes in competition mechanisms.
The practical value of the obtained results lies in the formation of a more systematic understanding of changes in the mechanisms of competitive struggle in modern conditions and transformations of business models based on them. This makes it possible to develop recommendations for businesses at different levels of competition, regarding the implementation of current business practices that meet the modern challenges of digital marketplaces and the nature of interaction with them.

The purpose of the article is to analyze the impact of global marketplaces on competition and determine the structure of this multi-level interaction mechanism. The object of the study is the interaction between global marketplaces and traditional business models, as well as their impact on the competitive behavior of enterprises in the conditions of the modern digital market.

The methodological basis of the research is the analysis of recent scientific articles, empirical studies, and examples that allow us to obtain a general understanding of new market dynamics in modern conditions. The results show that competition in marketplaces has a complex multi-level character. The competitive structure includes macro, meso, and micro levels with technologies dominating each. The integration of digital technologies, process optimization, and the use of big data are key drivers of competitive advantages.

The research conducted a general analysis of the structure of competition on global marketplaces such as Amazon, Alibaba, and eBay, which revealed its multi-level nature. Special attention is paid to the influence of digital technologies at various levels. A digital business model was determined and the results were systematized in the form of diagrams and drawings for a better understanding of the structure and dynamics of competition. Changes in business models are explained as derived from changes in competition mechanisms.

The practical value of the obtained results lies in the formation of a more systematic understanding of changes in the mechanisms of competitive struggle in modern conditions and transformations of business models based on them. This makes it possible to develop recommendations for businesses at different levels of competition, regarding the implementation of current business practices that meet the modern challenges of digital marketplaces and the nature of interaction with them.

Entropy management of logistics processes in Ukraine's agribusiness: the role of stevedoring companies under sustainable development conditions

Vitalii Nitsenko — 2024-12-30

In today's environment, entropy management of logistics processes in agribusiness is becoming increasingly important due to the need for continuous development and changes in the external environment. Effective logistics management is critical for maintaining the sustainable development and competitiveness of agribusiness. This paper analyzes the role of stevedoring companies, which play a key role in ensuring the reliability and sustainability of supply chains. The paper also considers aspects related to the regulatory framework and the need to improve it to increase the flexibility and adaptability of stevedoring companies in crisis situations. The study was conducted using a systematic approach, which includes an analysis of economic and political conditions, as well as specific aspects of logistics processes in the agribusiness of Ukraine. The article focuses on the management of entropy processes and their impact on the efficiency of logistics operations. It highlights that the proper organization of logistics processes helps to minimize losses and increase the efficiency of supply, which is key for agribusiness in the context of constant development and change. It is shown that stevedoring companies, due to their ability to adapt to changes, have a significant impact on the efficiency of logistics operations and the economic performance of agribusiness.

The study found that effective management of entropy processes is crucial for supporting the sustainable development of agribusiness in Ukraine. It emphasizes the need to harmonize Ukrainian legislation with international standards to improve the business environment and attract foreign investors.

Thus, the study emphasizes the importance of entropy support for logistics processes in agribusiness and the role of stevedoring companies in ensuring the sustainability and competitiveness of this sector in the context of constant change and development.

Digital culture as a basis for successful digital transformation of enterprises

Olga Petrykiva — 2024-12-30

The concept of digital culture as a foundational element of successful digital transformation is explored through a fractal framework encompassing macro, business, and organizational levels. The article identifies key tasks for promoting digital culture, including the enhancement of digital literacy, the integration of organizational culture within the digital context, and fostering a culture of technological entrepreneurship. The research highlights the critical role of digital culture in creating value through transformational technologies such as artificial intelligence, blockchain, and big data, while emphasizing the challenges organizations face in adapting their cultural frameworks to digital requirements. Insights are provided into the integration of digital culture with leadership, resource development, and knowledge organization, showcasing its impact on digital maturity and competitive advantage. The discussion covers the role of digital congruence in enabling effective collaboration within ecosystems, the necessity of addressing digital divides, and the use of reverse mentoring as a method to enhance digital competencies. A focus is placed on how digital culture reshapes business processes and values to align with the demands of Industry 4.0. The study underscores the significance of fostering digital culture as a strategic imperative for enterprises aiming to thrive in a rapidly evolving digital economy. Recommendations include frameworks for assessing digital maturity, promoting digital literacy, and aligning organizational values with digital transformation goals.

The influence of innovative technologies on the competencies of the modern manager and new educational tasks

Svitlana Topalova — 2024-12-30

Topicality. Modern innovative technologies radically change the entire process of management . They provide a number of advantages for the manager work but create a number of challenges at the same time . The necessity of forming new managerial competencies that meet the realities and requirements of the digital economy is obvious. This requires a significant modification of the strategy of training future managers.
The aim and object of the research: analysis of the impact of innovative technologies on managerial functionality and new requirements for managerial competencies, determination of the main ways and means of forming relevant competencies of managers in the process of professional training.
The methodology of the research includes a comparative analysis of the conclusions of foreign and Ukrainian scholars regarding current managerial competencies, generalization and systematization of the results of scientific research and conclusions, a detailed analysis of the essence of key managerial competencies in the context of rapid implementation of innovative technologies. The information base of the research consists of the works of American, European and Ukrainian scholars.
Research findings. The main directions of the impact of innovative technologies
on managerial functions have been pointed out. Key managerial competencies, which are essential for effective management in the context of digital transformation, have been defined. Means for the improvement of educational programs have been proposed based on the analysis of their content and components to form the relevant competencies of a modern manager.
The practical value of the obtained results lies in the fact that the analysis of the main directions of the impact of innovative technologies on the management process and the identification of the essence of relevant managerial competencies make it possible to determine the necessary adjustments in the training of future specialists.
The key findings can be used to improve the educational and professional programs in the "Management" specialty and to adjust the methods of teaching and knowledge assessment.