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Trade and logistics between the EU and Ukraine in the wartime period
(Alfred Nobel University, 2025-07-04) Oleksandr Shnyrkov; Rita Zablotska; Oleksii Chugaiev
The work analyzes the transformational processes in Ukraine’s foreign trade with EU countries, as well as the interaction models between the national logistics infrastructure and international logistics corridors under the conditions of Russia’s military aggression against Ukraine. The development of a virtually new logistics structure for the export and import of goods, including those from third countries, became necessary. Ukraine continued to reform its transport sector during the war in accordance with its commitments under the Association Agreement with the EU. Further liberalization of trade relations between the EU and Ukraine amid the aggression contributed to maintaining and increasing exports to EU member states. Two years into the Russia-Ukraine war, Ukrainian exports to the EU were slightly below pre-war levels. However, thanks to international aid, Ukraine was able to increase its imports from the EU by more than one-third. In the pre-war period, Ukraine primarily used road, sea, and rail transport for its exports to the EU, while EU exports to Ukraine were 80% carried by road transport. During the war, the share of sea transport in Ukrainian exports decreased from 38% to 29%, which was offset by increasing shares of road and rail transport. Additionally, there was a smaller increase in the importance of rail transport for Ukrainian imports, rising from 5.7% to 9.3%, compensating for the declining shares of sea and air transport. Regression analysis showed that pre-war dominant modes of transport, logistics performance in trade partners, and their changes during the war did not significantly affect Ukraine’s trade dynamics with them in 2023 compared to 2021, after controlling for other factors. Thus, logistics for trade with the EU proved to be relatively resilient, considering the low contribution of the most affected air transport to overall trade flows, the partial restoration of sea routes after their initial collapse in 2022, further bilateral trade liberalization, international aid, and sectoral integration in transport. Rather than logistical factors, the dispersion of trade dynamics with EU member states can be more effectively explained by factors related to the value chain effect and dynamic overlapping demand effect. Specifically, Ukraine increased its exports to EU countries that were more successful in expanding their extra-EU exports. Ukraine also increased its imports primarily from member states with a relatively low development level compared to the EU average, while decreasing imports from the richest economies.
The role of innovations in improving labor productivity in agricultural enterprises
(Alfred Nobel University, 2025-07-04) Lala Fagail Mahmudova; Kamala Vagif Azizova; Elnara Shamsi Mammadova; Samira Rasim Seyidova
The agricultural sector is one of the most important sectors of the national economy, as its efficiency can determine the overall state of the country’s economy and has a decisive impact on food supply levels and the well-being of the population. Therefore, studying ways to increase labor productivity in agricultural enterprises is particularly important. It determines the pace of expanded reproduction in these enterprises and the full satisfaction of the population’s demand for agricultural products. This is especially relevant in the context of strengthening the country’s food security and pursuing an import substitution policy. Currently, labor productivity in Azerbaijan’s agricultural sector is low compared to that of other countries. The main reasons for this include a lack of qualified personnel, underdeveloped production culture, and insufficient advancement in technology and digitization. Therefore, the primary priority today is to address and eliminate these issues. Relevance of the topic. At present, increasing labor productivity in local enterprises, including agricultural enterprises, is receiving significant attention. In this context, the role of innovations must be given special consideration. The application of innovations in agricultural enterprises primarily involves the use of new technologies, more productive breeds and plant varieties, and biotechnologies that enable the production of higher-quality, more beneficial products. It also includes the introduction of new technical means for soil cultivation, the cleaning and storage of raw materials, energy-saving technologies in production, and environmental innovations that enhance productivity, minimize costs, and ensure environmental safety. Given these advantages, the application of innovations plays a crucial role in increasing labor productivity. Therefore, conducting research in this direction has become increasingly urgent and necessary. The purpose of the article is to study the role of innovations in increasing labor productivity in agricultural enterprises. It also aims to explore the directions of innovation-oriented development in these enterprises, as well as the main forms, methods, and mechanisms of state stimulation. The article highlights the development of innovation policy and the achievement of its strategic goals as key conditions for increasing labor productivity in the agricultural sector. These strategic goals include enhancing national competitiveness through innovations—particularly those that are directly relevant to agricultural producers—and identifying and supporting high-tech sectors that can drive rapid economic growth. Research methods. general scientific analysis and synthesis, grouping, generalization, factor analysis, economic-statistical analysis, comparative analysis, development dynamics. Scientific innovation. The article examines the specific features of the innovation process in agricultural enterprises compared to other sectors of the economy. It explores the ways of increasing labor productivity in these enterprises and identifies the advantages brought by innovation. It is argued that one of the key benefits of innovation is its ability to enhance the efficiency and productivity of agricultural enterprises. Through innovative technologies and methodologies, these enterprises can reduce costs, increase productivity, and optimize their production activities. The article emphasizes that innovation has always been a driving force behind progress and success in various sectors of the economy—and the agricultural sector is no exception. As the global population continues to grow, so does the demand for food and other agricultural products. To meet this increasing demand, agricultural enterprises must enhance their competitiveness, and one of the most effective ways to do so is through innovation.
The extent of Iraqi consumer interest in adopting the concept of green marketing through the use of paper bags instead of plastic bags
(Alfred Nobel University, 2025-07-04) Alaa Nabeel Al-Heali; Wisal Abdullah Husain; Mahmud Abdullah Jasim Alkhafaji
The research aims to educate consumers about the dangers of using plastic bags, promote the culture of using paper bags as an alternative, and introduce the concept of green marketing along with the importance of adopting strategies aimed at providing sustainable (environmentally friendly) products. Through their application, waste can be disposed of in a responsible manner that does not harm the environment. Additionally, it seeks to consolidate the principle of green cooperation by encouraging business organizations to contribute to environmental preservation, in line with the slogan launched by the Iraqi Ministry of Health in collaboration with UNICEF: ‘Yes to paper bags, no to plastic bags. Tens of thousands of paper bags were distributed free of charge to many bakeries in various areas of Baghdad. A questionnaire was used as a research tool, with 660 questionnaires distributed to a random sample of consumers in one of the residential areas of Baghdad. The key findings of our research show that 79.1% of respondents strongly agree with the shift towards using paper bags, 88.8% appreciate the importance of living in a clean and healthy environment, and 92% prefer to deal with sellers who use paper bags instead of plastic. Additionally, 88% of respondents support the government’s efforts to promote green marketing. Based on these findings, the research recommends issuing legislation and laws that promote green marketing and support the establishment of paper bag factories in both the public and private sectors.
Evaluation of the activities of agricultural products processing enterprises in Azerbaijan and directions of their development
(Alfred Nobel University, 2025-07-04) Shohrat İzzat Aliyeva; Zulfiya Mirza Gasimova; Sadagat Yusup Aliyeva; Hijran Rafig Kocharli
Agriculture, as one of the key sectors of economic activity, provides the world’s population with food, raw materials, and various other resources. It is this sector that supplies people with essential products vital for daily existence, including grains, meat, fruits, vegetables, milk, and other food items. Without the agricultural industry, feeding the entire planet would be impossible, and many people would face hunger. Additionally, agriculture serves as the foundation for the production of many goods, such as paper, textiles, plastics, and cosmetics, most of which are made from plant raw materials sourced from this sector. It is clear that agricultural products act as a raw material base for many processing enterprises. Instead of exporting these products as raw materials, utilizing them domestically can make a significant contribution to the national economy. Thus, the expansion of processing enterprises in the agricultural sector will lead to an increase in budget revenues, a higher volume of exports of finished products, the creation of new jobs, and, most importantly, an improvement in the self-sufficiency of the country’s population in essential food products, thereby enhancing food security. All of this demonstrates the significant importance of developing and expanding processing enterprises in the agricultural sector. Relevance of the topic: In a number of dominant countries around the world, agriculture, as an important sector of the economy, not only provides the population with basic food products but also offers other opportunities. Agriculture is one of the main sources of employment. The availability of jobs is a crucial factor for the development of specific regions within a country, contributing to the improvement of economic stability and the standard of living in these areas. Agriculture actively stimulates the development of science and technology, including biotechnology, genetic research, the development of fertilizers and pesticides, and new methods of soil cultivation, all of which help increase productivity and improve crop quality. It plays a crucial role in ensuring global sustainable development, as it is vital for the stable progress of humanity. For example, this may include the conservation of natural resources and biodiversity, which can be achieved by reducing the use of chemicals and water in crop rotation and adopting sustainable farming methods—one of the environmentally friendly production techniques. Therefore, evaluating the current state of agricultural processing enterprises and continuously investigating development directions is one of the main research objectives. The purpose of the article is to determine the role played by enterprises operating in the agricultural sector in Azerbaijan and engaged in the processing of agricultural products in the country’s economy, to evaluate the current state of their activities and influencing factors. Additionally, the article aims to justify the role of the state in the development of these enterprises, review the mechanisms of state support, strengthen competitiveness for the expansion of their activities, investigate the directions for expanding market opportunities, and provide recommendations on all of these aspects. Research methods: grouping, generalization, systematic approach, development dynamics, synthesis and analysis, comparative analysis, factor analysis, economic-statistical analysis. Scientific innovation: The article justifies the need to reveal and evaluate the economic potential of processing enterprises in the agricultural sector in Azerbaijan, with certain methodological principles serving as the foundation. It emphasizes the need to increase the efficiency of utilizing economic potential and develop a strategy for the development of processing enterprises, adopting a systematic approach. It has been determined that the sustainable development strategy of the enterprises studied aligns with the general development strategy of the industry, the region, and the country’s economy as a whole.
Features of business innovation implementation in the EU enterprises in the context of economic instability and resource constraints
(Alfred Nobel University, 2025-07-04) Iryna V. Taranenko; Anastasiia D. Mostova; Hanna V. Shcholokova
In the context of increased instability in the global economy due to the COVID-19 pandemic and the full-scale war in Ukraine, enterprises in different countries face significant resource constraints. Therefore, the implementation of new organizational, managerial, and marketing methods, which are less costly compared to new products and technologies, is of particular importance. The study of the specific features of business innovation implementation in EU enterprises was conducted based on the results of the Community Innovation Survey and the Oslo Manual recommendations. It was found that during the 2020 crisis associated with the COVID-19 pandemic, and in the context of limited funds for financing innovation activities, EU enterprises reduced the implementation of product innovations and, conversely, more actively implemented business process innovations. The most popular business process innovations were related to information processing and communications, as well as organizational decision-making and the management of external relations. In addition, enterprises have been actively implementing business process innovations related to decision-making and human resource management, as well as marketing methods such as promotion, packaging, pricing, product placement, and after-sales service. At the same time, innovations related to new methods of producing goods and services (technological processes), as well as logistics, supply, or distribution of resources, goods, or services, were much less in demand. Based on the CIS 2020 data, the reasons for the hampering of innovation activity by EU enterprises were revealed. It can be assumed that the most important reason for the reduced implementation of new products and production methods by enterprises during the crisis is their desire to reduce costs in the face of resource constraints and lack of funds to finance innovation activities. In turn, the continuous updating of information technologies necessary for successful business, as well as the implementation of less expensive new organizational, managerial, and marketing methods, allows enterprises to compensate for the temporary halt in the introduction of new products and technological processes. It is concluded that new organizational, managerial, and marketing methods can replace product innovations and new production methods during periods of economic instability and crisis. Therefore, these types of innovations can be considered substitutes. Moreover, during times of economic instability and resource constraints, the introduction of less expensive new organizational, managerial, and marketing methods becomes a priority. A comparison of the innovation activities of EU enterprises during the 2020 COVID-19 crisis with those during the 2007-2009 financial and economic crisis led to the conclusion that the trend mentioned above is long-term. This trend should be taken into account when developing an innovation policy for Ukrainian enterprises, both under martial law and during post-war recovery.
Defining a valid consumer tasting methodology for vodka market research: economic impact and assortment optimization
(Alfred Nobel University, 2025-07-04) Melikh О.О.; Kalmykova І.S.
To gain a more comprehensive understanding of their products and instill confidence in successfully launching them in the market, producers need a deep understanding of consumer behavior. A product’s success in the market depends not only on consumer preferences but also on repeat purchases. The product must satisfy consumers to influence their purchase decisions. Therefore, it is crucial that marketing research on consumer preferences focuses on both sensory and hedonic appeal from the consumers’ perspective. All consumer-oriented tests, such as consumer tastings, rely on subjective product perception and have an affective nature. Thus, obtaining reliable and effective results from consumer tastings is of significant scientific interest. The study of the impact of testing procedure parameters on the accuracy of vodka consumer tasting results is especially relevant, given the specific attributes of this strong alcoholic beverage and the limited number of marketing studies on the vodka market. An analysis of the information sources revealed that the accuracy of consumer tasting results depends on whether the methodology is designed with the specifics of the product being evaluated in mind, particularly whether the testing procedure parameters are rationally selected. These parameters include the number of samples, the order of sample presentation, the number of attributes to be evaluated, and the number of points/categories on the hedonic scale, among others. This research aims to propose a valid methodology for conducting consumer vodka tastings with rationally selected parameters, within the framework of marketing research focused on consumers’ purchase intentions. Marketing Study No. 1 (300 respondents, 70% men and 30% women – vodka buyers at least once a month in the mid-price segment) was conducted through consumer tastings of four Ukrainian vodka brands in the mid-price category. The methodology involved sequential monadic «blind» testing, with interviews conducted at a central location using a developed questionnaire. Respondents evaluated 12 attributes of the vodka samples on a 5-point scale. Each respondent tasted all four samples sequentially, evaluating each sample against the other three. The results of Marketing Study No. 1 showed significant variation in respondents’ preferences for vodka brands and purchase intentions, which can be explained by the irrationally selected testing parameters that distracted respondents and caused receptor fatigue. Marketing Study No. 2 was conducted under the same initial conditions, except for the tasting methodology, which involved comparative «blind» testing of three Ukrainian vodka brands, as well as fewer evaluated attributes (five) on a 3-point scale and simultaneous presentation of the samples. The results of Marketing Study No. 2 showed a clear correlation. To confirm the validity of the chosen testing methodology, Marketing Study No. 3 was conducted – a tasting of three different Ukrainian vodka brands, different from the previous ones, where the results of expert tastings (sample size – 15 trained experts) aligned with the results of consumer tastings (sample size – 80 lay respondents). The studies showed that the most effective methodology for vodka consumer tastings is comparative «blind» testing. This is explained by the fact that, due to the rational selection of testing parameters, individual-level sensory perception of the strong alcoholic beverage is more accurate, providing better attribute evaluations and a clearer link with consumers’ purchase intentions. For accurate results in consumer tastings, it is necessary to: present samples simultaneously to allow comparison; limit the number of samples to three; ensure that the attributes of the vodka being evaluated are clearly defined, non-redundant, and kept to a minimum based on research objectives; and reduce the number of hedonic scale categories to three. Further research is planned to explore methodological approaches to conducting vodka consumer tastings and to develop recommendations for marketers on best practices when experimental conditions vary in sample size, sample differences, and product complexity. The economic aspect of the study lies in the fact that understanding consumer preferences and the accuracy of product evaluation can significantly impact the effectiveness of marketing strategies and the competitiveness of a brand in the market. Since the vodka market in Ukraine is extremely competitive, accurate data on consumer preferences and correct research methodologies can be key to securing a successful market position and maximizing profitability. The proper choice of consumer tasting methodology not only ensures the accuracy of results but also reduces the risks of failed product launches and financial losses associated with inaccurate consumer forecasts. Specifically, the development of a valid methodology for assessing vodka quality allows producers to more precisely gauge consumer preferences, which is critical for optimizing product assortment, setting prices, and developing effective marketing campaigns.
Contextualizing attitude-intention-behaviour triad with green marketing & sustainable practices: an ISM approach
(Alfred Nobel University, 2025-07-04) Simran Babu; Saroj Kumar Sahoo; Oleksandr A. Zadoia
Purpose: Although the relationship between behavioural intention and certain behaviour is a widely proven fact, the context in which this relationship develops has yet to be explored. Therefore, this study aims to examine the contextual relationship between green purchase behaviour and green purchase intention, customers’ attitudes towards green shopping, customers’ culture, customers’ awareness of sustainable practices, perceived risk, and socio-demographic factors. Research methodology & design: This study followed a qualitative approach, where the contextual relationships of the above-mentioned factors were studied with the ISM (Interpretive Structural Modelling) technique. An extensive literature review and opinions of some experts enabled the authors to establish the contextual relationships among the identified variables/elements. Findings: The major findings indicate that green purchase behaviour is driven by the other aforementioned elements including the green purchase intention and attitude. The socio-demographic variables carry highest driving power, suggesting that these variables form the ground for abovementioned intention and behaviour. Originality: The new structural model based on contextual relationships makes a significant contribution to the existing theories and concepts related to the attitude-intention-behaviours triad. Practical & social implications: A clear understanding of the aforementioned triadic relationship can provide innovative pathways for marketing strategies, with maximum consideration for the economy and society at large. The newly developed model also provides strategic inputs to the public planners for sustainable practices in the society. Limitations & Implications: Empirical testing of the model with psychometric properties can provide wider applicability of this study.
Modern approach to the BSC: functional structure and complex consideration of stakeholder interests
(Alfred Nobel University, 2025-07-04) Svіtlana B. Dovbnya; Anhelina O. Naidovska
The article examines the issue of the structure of a Balanced Scorecard, by which the authors understand the composition of the system’s perspectives and the approaches to their selection. The traditional structure of the BSC is considered, along with modern trends regarding its expansion with additional perspectives that mostly reflect relationships with external stakeholders of the enterprise or the need to take into account their influence on the enterprise’s operations. It is noted that the BSC approach to the formalization of enterprise strategies is in demand and effective; however, the traditional structure of the BSC under modern business conditions has certain disadvantages due to the evolutionary development of strategic management. Therefore, it is proposed to revise the approach to the selection of strategic perspectives by orienting it toward the functional principle and integrating the provisions of stakeholder theory into the BSC. According to the authors, this will modernize the approach and make it more adapted to current conditions. It is proposed to include the perspectives of «Marketing,» «Production,» «Innovation» (endto-end), «Finance,» and «Personnel» in the strategic map. In addition, it is recommended to add a superstructure to the strategic map that incorporates a system of strategic goals aligned with the interests of key and potential stakeholders, based on the model of R.K. Mitchell, B.R. The authors’ vision regarding the implementation of each of the BSC perspectives is presented. The composition of indicator groups is substantiated, as well as the specific indicators that can reflect the strategic goals and key success factors of the enterprise in achieving its strategies. The proposed approach to improving the Balanced Scorecard determines its structure based on a clear criterion – functional features – allowing for a consistent and clear demonstration of the connection between all functional strategies of the enterprise. It highlights increasing attention to non-financial goals and indicators by forming a system of main strategic goals, determining expected stakeholders, and aligning with modern trends in management (for example, in the context of business decarbonization). Additionally, it allows for a more comprehensive consideration of the state and trends in the immediate external environment of the enterprise, among other factors.
Ensuring the implementation of commercialization strategies for satellite services in the digital economy
(Alfred Nobel University, 2025-07-04) Viacheslav V. Makedon; Liudmyla I. Yarmolenko; Tetiana V. Chumak; Olena Ye. Zaporozhchenko
The article explores the mechanisms and strategies that can be applied at the initial stages of developing a satellite service for its successful market entry and consolidation. The importance of strategic planning is emphasized through the analysis of the technical and economic aspects of the service, which must meet the expectations of potential consumers and demonstrate its competitive potential. The authors consider various commercialization strategies adapted to the needs of digital satellite service developers, taking into account the market’s transition to a service model and online activities. The article also examines approaches to the development and promotion of satellite services, focusing on the need to analyze global market demands, competitor strategies, and the potential of innovative solutions to address specific economic challenges. Developing a technological strategy and implementing it through the management system for bringing satellite services to market is key to achieving high competitiveness and effective pricing at all stages of the service life cycle. The article provides a detailed overview of the management system methodology used to determine these quantitative indicators, with a particular emphasis on integrating strategic planning with operational management. The authors argue that a successful commercialization strategy must be flexible and capable of quickly adapting to changes in market conditions, consumer demands, and technological innovations. Such flexibility contributes to effectively satisfying consumer needs and increasing service efficiency. Particular attention is given to the use of quantitative assessments and analyses to determine sales potential, identify key risks, and consider opportunities for innovative development and the expansion of the market niche for satellite services. The authors emphasize the importance of integrating strategic planning with analytical tools to optimize decision-making, allowing not only the prediction of future trends but also a flexible and timely response to them. The article offers a holistic view of the development and commercialization process of satellite services, highlighting the need for a comprehensive analysis of market conditions, the competitive environment, and the potential for innovation.
Complexity of selling products and services for cryptocurrencies
(Alfred Nobel University, 2025-07-04) Tetiana Yarotska; Oleksandr Yakushenko
Introduction. Cryptocurrencies are gaining popularity among individuals, businesses, and f inancial institutions. They are used for various purposes, particularly to pay for goods and services. Selling goods and services for cryptocurrencies can help companies attract new customers, increase sales, expand market share, and more. This article explores whether cryptocurrencies today function as a means of payment similar to fiat money, and examines the risks faced by companies that accept cryptocurrencies for goods and services. While cryptocurrencies are approaching the fulfillment of the economic functions of money, they have not yet fully reached this level. Nonetheless, in many countries, cryptocurrencies can be used to pay for goods or services, exchanged for other currencies, and more. In Ukraine, some companies sell household appliances, tickets, fuel, and other goods and services for cryptocurrencies. Problem Statement. Cryptocurrency developers emphasize that it is an alternative, private form of digital money that is not issued by national governments or controlled by financial intermediaries such as banks. The National Bank of Ukraine notes that the complex legal nature of cryptocurrencies prevents them from being recognized as cash, foreign currency, electronic money, securities, or a monetary surrogate. Cryptocurrencies offer certain advantages over traditional money, such as reducing transaction costs. However, transactions involving cryptocurrencies also carry inherent risks. Purpose. The study identifies the main approaches to organizing the sale of goods and services for cryptocurrencies. Additionally, the article aims to identify the risks associated with the sale of goods and services for cryptocurrencies and outline ways to minimize these risks. Materials and methods. We employed various research methods, including historical and legal methods, which involve the study of the legislative framework surrounding cryptocurrency transactions, as well as the empirical method, which investigates different practices of selling goods and services for cryptocurrencies. This approach also helps in identifying the risks companies face when engaging in such activities. One of the primary risks associated with cryptocurrency transactions is significant fluctuations in their exchange rates, which can result in economic losses in the event of a sharp devaluation. To better understand the nature of the risks associated with using cryptocurrencies, we conducted a statistical analysis of fluctuations in the Bitcoin exchange rate and built a correlation model with other market indicators, such as the Nasdaq Composite index and the exchange price of silver, for the period from March 1, 2012, to February 29, 2024. Using the Group Method of Data Handling (GMDH), we identified a connection between Bitcoin’s value fluctuations and market indicators that differ in terms of technological orientation (Nasdaq Composite) and investment risk (silver). Results. More and more countries are legalizing cryptocurrencies. In Ukraine, however, legislation regarding cryptocurrencies is still in development, and the sale of goods and services for cryptocurrencies is treated similarly to barter agreements. Depending on market characteristics and the specifics of their business, sellers of goods and services choose between directly selling for cryptocurrencies or using third-party intermediaries. This raises the question of what risks sellers face when accepting cryptocurrencies and how to mitigate or reduce those risks, such as the risk of sharp devaluation. Our model reveals a connection between Bitcoin’s exchange rate and other market indicators, such as the Nasdaq Composite index and the price of silver. However, the potential risks associated with using cryptocurrencies as a means of payment warrant further exploration. The lack of a clear regulatory framework and consistent definitions also introduces uncertainty in cryptocurrency operations. In practice, varying definitions of cryptocurrencies can create additional risks, particularly regarding the taxation of income received in cryptocurrency. Therefore, selling goods and services via intermediaries and converting cryptocurrency into fiat money can help mitigate legal, financial, and tax risks for companies. Additionally, governments play a crucial role in improving the regulatory framework for cryptocurrency transactions.
Financial resilience of Ukraine under the martial law
(Alfred Nobel University, 2025-07-04) Diana Shkuropadska; Valerii Osetskyi; Nataliia Bondar; Vladyslav Umantsiv
The article analyzes scientific approaches to assessing the financial resilience of a country and highlights the diversity of studies in the selection of indicators and methodologies. Despite the significance of this issue, there is currently no universally accepted, scientifically grounded approach to evaluating the financial resilience of countries. For Ukraine, which is under martial law, determining the level of financial resilience is of particular importance. Developing an adapted methodology for assessing financial resilience, one that takes into account macroeconomic, financial, fiscal, and foreign economic aspects, is essential for ensuring a comprehensive understanding of the country’s financial capacity to withstand external shocks. The analysis of macroeconomic indicators, such as GDP per capita, the GDP physical volume index, and gross fixed capital formation as a share of GDP, along with unemployment and inflation, provides an overview of the overall economic context. Financial aspects, including broad money, the PFTS index, banks’ net margins, and return on assets and capital within the banking system, offer insights into the system’s ability to withstand financial shocks. Fiscal indicators – such as state budget expenditures and revenues, budget deficit, and total public debt – are essential for understanding the state’s financial resilience in managing budgetary resources. Foreign economic factors, including foreign trade, export and import dependence, gross external debt, and international reserves, assess the country’s integration into the global economy and its reliance on international factors. Thus, the integration of these diverse aspects into a single methodology allows for a comprehensive assessment of Ukraine’s financial resilience. Accordingly, Ukraine’s Integral index of Financial Resilience (IFR) was 60% in 2021 (sufficient level), but it dropped dropped to 40% in 2022 (medium level). In 2023, the IFR began to recover and reached 50% (medium), suggesting that Ukraine has started to adapt to the war conditions that contributed to the decline in financial resilience in 2022. Despite this recovery, the IFR has not yet returned to the 2021 level, signaling that Ukraine’s economy is still impacted by factors limiting its full recovery. The proven methodology for the integral assessment of the country’s financial resilience, as demonstrated in Ukraine’s case, is an essential analytical tool for developing strategic directions to strengthen the country’s financial capacity to withstand future shocks. An integrated approach to analyzing financial resilience helps identify vulnerabilities and threats to the country’s development. The methodology is informative, recommendatory, and explanatory. It can be utilized by authorities and academic institutions within their respective competences to assess the country’s financial resilience, enabling informed decision-making.
Impact investing: accounting and cost management features
(Alfred Nobel University, 2025-07-04) Iryna A. Nechayeva; Larisa M. Ocheretko; Svitlana V. Voitenko
The research examines the concept of impact investments, outlining its main characteristics and features, and defining the criteria by which investments can be classified as impact investments. The key elements of impact investing are purposefulness, measurability, and additionality. The causes and trends in the global impact investing market are identified. It is established that impact investing offers significant opportunities for investors, such as achieving positive social impact, balancing risk and return, and enhancing reputation, among others. The need to measure and report costs and results using appropriate metrics is justified to understand the degree of impact, as well as the effectiveness of the portfolio and individual investments. Since the assessment of impact investing efficiency includes determining both social and environmental impact and financial indicators, several methods that can be adapted to evaluate the efficiency of impact investing are proposed. It is demonstrated that impact investing can incur costs in various aspects, which may vary depending on specific strategies and projects. The main figures related to investments in environmental protection are considered. The catastrophic impact of military actions on Ukraine’s ecosystem is established, and the key challenges and opportunities for environmental impact investing in Ukraine during the war and post-war recovery are identified. It is concluded that the growing recognition of the need for environmental protection leads to an increase in environmental investments and costs, highlighting the importance of environmental accounting. The work examines existing classifications of environmental costs and identifies a classification that can serve as the basis for developing the Working Plan of Accounts and organizing their analytical accounting. It is also proposed to introduce an internal reporting form for environmental costs – the Environmental Cost Report. The introduction of this report should simplify the process of summarizing information on environmental costs when preparing Form 2, ‘Statement of Financial Results’. The authors consider the main arguments against separate accounting of environmental costs, which should be taken into account when deciding whether such accounting is necessary.
Theoretical and practical view of financial regulation of innovative activities in the conditions of war in Ukraine
(Alfred Nobel University, 2025-07-04) Vitalii V. Zіanko; Tetiana D. Nechyporenko
Key concepts in the field of innovative research were systematized, and the author’s definition of innovation was formulated as the result of the materialization of an innovative idea into a specific tangible form, characterized by new consumer qualities, the implementation of which involves changing established methods of activity to achieve economic, social, environmental, or other effects. This approach expands the traditional understanding of the concept and allows for a more accurate assessment of innovation activity as a complex, dynamic system of actions and interactions among numerous participants in the innovation process, who conduct research and create various types of innovations. It also enables the development of effective tools to support innovation. Empirical data indicate that the financial regulation system of the innovation sector, which brings together both state and private institutions, serves as an effective catalyst for the quantitative growth of innovative projects and the enhancement of their quality. Through financial instruments such as budgetary funding, tax incentives, loans, and investment programs, state institutions contribute to the rapid commercialization of innovative projects and ensure the sustainable development of the economic ecosystem. Private institutions provide a wide range of support for the development of innovative projects. A set of interrelated factors influencing the effectiveness of financial regulation of the innovation process has been identified, allowing for the assessment of its direction and the selection of management methods that are appropriate to the specifics of the innovation process and the type of innovation. Based on this, a model of financial regulation for innovative activity is proposed, featuring a clearly defined hierarchical structure that includes the following key components: goal and objective setting, strategy development, selection of financial stimulation tools, and monitoring of their effectiveness. This approach ensures the systematic and efficient financial regulation of innovations. The analysis of international rankings (GII, IPO, GSEI) indicates that Ukraine has the potential for innovative development. However, the current financial support mechanisms do not ensure adequate access to funding for innovative projects. According to the Global Innovation Index, Ukraine significantly lags behind European countries due to imperfect legislation, insufficient funding for scientific research, and a weak innovation infrastructure. A set of interconnected issues has been identified that pose major obstacles to national innovation development. These include inadequate funding for science, ineffective state innovation policy, an underdeveloped venture capital market, an unfavorable tax environment, and weak intellectual property protection. To enhance Ukraine’s innovative potential and strengthen its position in the global market, a number of strategic recommendations are proposed. These include increasing investment in scientific research, optimizing financial mechanisms, creating a favorable business environment, stimulating the commercialization of innovations, and promoting international cooperation. The implementation of these measures will improve the efficiency of budgetary spending, optimize the regulatory environment, and intensify technology transfer. Ultimately, this will drive the country’s sustainable economic development and contribute to improving its global market position.
Policy for the assessment and compensation of damages from the russian federation’s aggression against Ukraine
(Alfred Nobel University, 2025-07-04) Valerii Zhuk; Yuliia Bezdushna; Nataliia Zhuk; Olena Hryschenko
The military aggression of the Russian Federation against Ukraine has led to significant destruction and economic losses, which must be compensated. The creation of transparent and fair compensation mechanisms is critically important for the restoration of economic stability and the development of Ukraine. A clear and well-developed policy for assessing and indemnifying damages is essential for the effective operation of the compensation mechanism. The article analyzes the main initiatives of the international community and Ukraine regarding the system for recording, assessing, and indemnifying damages. In particular, the position of the United Nations is examined. The measures taken by the world’s leading countries are highlighted, and the steps undertaken by the European Union to establish an international compensation mechanism are described. The legal grounds for the use of the aggressor country’s assets in the United States, Canada, Belgium, and other countries are also analyzed. The domestic legal framework for the compensation of damages is highlighted. Legislation related to the assessment of war damages is analyzed. The goals, tasks, sectoral objects, and specific features of the functioning of international and national registers for recording damage are disclosed. The current status of these registers is also determined. A mechanism for estimating indirect losses is proposed, based on applied analytical assessments derived from enterprise accounting data and a combined approach that includes both accounting and expert evaluations. The proposed methodology relies on international standards for assessment, accounting, statistical, and financial reporting. This mechanism will enable businesses to assess both their direct and indirect losses resulting from the war. It includes an algorithm for recording and reporting indirect losses, with subsequent integration into national statistics and the system of national accounts. Proposals for expanding the methodological approaches to assessing the losses of Ukrainian enterprises from the war through analytical-accounting and analytical-combined assessments are presented. These approaches contribute to achieving the main goals of Ukraine’s compensation policy, namely: the timely mass assessment of losses by all enterprises, the minimization of corruption and injustice in the payment of compensation, and the prompt creation of the Register of losses, as well as the provision of information for making compensation decisions at all levels of management. To achieve these goals, the methods of analysis, synthesis, analogy, comparison, and both graphical and tabular methods of scientific research were employed.
Culture as a factor in the development of the productive capacity of Ukrainian regions
(Alfred Nobel University, 2025-07-04) Svitlana L. Shults; Olha A. Voitenko
Amid the rapid changes in the global economic landscape, economic productivity remains a critical concern for nations worldwide. Understanding the factors that influence overall productivity or its components is particularly urgent for Ukraine’s regions. This research is essential for ensuring the stability and sustainability of the state’s socio-economic system. The cultural sector, a long-recognized driver of productivity, plays a dual role. It is both a significant economic sector, contributing to GDP and regional GDP, and a complex, multi-structured phenomenon that directly and indirectly influences personal productivity. Understanding the role of the cultural sector in shaping the productive capacity of regions in 2021 is crucial for comprehending the pre-war situation and identifying potential development directions for the sector. This understanding is vital for the post-war reconstruction of Ukrainian territories. The study’s main hypothesis posits that cultural factors influence the total factor productivity (TFP) indicator in Ukraine’s regions. The model includes several indicators of the cultural environment and the economic impact of culture in the country: the share of cultural heritage sites per 10,000 people, the share of household expenditure on cultural goods and services within the overall expenditure structure, the share of those employed in the cultural sector within the regional employment structure, and the share of cultural sector enterprises in the total number of enterprises in the region. Territorial disparities are observed across all indicators, highlighting the heterogeneity of Ukraine’s cultural landscape. The dependent variable in the model is regional TFP. Regression analysis revealed that the share of those employed in the cultural sector within the overall regional employment structure has a statistically significant impact on the TFP indicator, with a coefficient of determination of 0.48 and a p-value for the F-statistic of 0.0108 in the model. The influence of employment in the cultural sector can be attributed to the fact that work in this field requires highly qualified workers, involves innovation and knowledge diffusion, creates products with high added value, and is part of the creative economy. Therefore, increasing employment in this sector will positively impact overall labor productivity in regions and contribute to economic growth as a whole. The lack of statistically significant influence from other indicators requires further investigation. It is important to note that, in the context of war, the cultural sector remains a vital socio-economic resource for Ukraine. Supporting this sector, even in these challenging conditions, is crucial. In this regard, numerous international organizations that have launched various aid initiatives, including programs to support Ukrainian artists, preserve cultural heritage, and implement cultural and artistic projects, will have a positive impact.
Evaluating the effectiveness of innovation implementation at transport enterprises under conditions of uncertainty
(Alfred Nobel University, 2025-07-04) Oksana O. Karpenko; Olha O. Kravchenko; Olena M. Palyvoda; Svitlana M. Semenova
In the conditions of economic uncertainty associated with war, the task of developing and applying new approaches to assessing the economic efficiency and feasibility of introducing innovations at transport enterprises has become more urgent. In the presented study, a mental model for the formation of the effects of innovations was developed based on scenarios that describe existing relationships and trends, with the aim of incorporating them into the planning of innovative activities at a transport enterprise using PJSC Ukrzaliznytsia as an example. The authors have demonstrated that, under current conditions, scenario modeling is advisable for forecasting innovative development. Based on the expert survey, a system of scenarios for the implementation of the innovative project was developed: «Innovative growth», «Insufficient demand», «Insufficient supply», «Resource conservation». The study evaluated the potential effectiveness of introducing innovations to improve transport (railway) infrastructure under the «Insufficient demand» and «Insufficient supply» scenarios for PJSC Ukrzaliznytsia. It was calculated that, under the «Insufficient demand» scenario, the efficiency of innovation would be negative but with a tendency towards further growth from -9.4% in 2025 to -11.8% in 2029. Under the «Insufficient supply» scenario, a negative result from the introduction of innovations was also obtained, but with a tendency to decrease from -0.4% in 2025 to -0.1% in 2029, which would lead to an increase in the level of transport demand from 76.81% in 2025 to 89.23% in 2029. It was determined that, under current conditions, the scenario «Insufficient supply» would be more effective as its implementation would ensure an increase in the level of satisfaction of transportation needs through increased funding for the innovative project. The analysis of scenarios showed that it is possible to reduce the probability of unwanted effects by implementing an effective planning system and using modern financing mechanisms for innovative activities of transport enterprises.
Human capital as a resource for the social and economic development of Ukraine
(Alfred Nobel University, 2025-07-04) Nataliia Vasіutkina; Oksana Kondratiuk; Iryna Stoianenko; Samira Piletska
The article examines the key trends and challenges of human capital as the primary lever of Ukraine’s socio-economic development. The socio-economic essence and components involved in the formation and development of human capital, such as standard of living, education, and material wellbeing, are analyzed. Using a composite approach, the key human development indicators that underlie the formation, accumulation, and growth of the country’s human capital have been studied. It was established that a relationship exists between the level of human capital development and the country’s overall economic and social progress. The main determinants exerting the greatest influence on the formation and effective use of human capital in Ukraine are identified. With the use of structural and dynamic analysis, an assessment of the development of human capital for the period 2012-2022 was carried out. The problems of human capital in the economic dimension are analyzed through a number of economic factors: gross domestic product, income and expenditure of the population, unemployment, inflation, and wages. Correlation-regression analysis between the determined factors demonstrated the existence of a close relationship between the incomes of the population, gross domestic product, and wages. This gave the authors reason to claim that the growth of gross domestic product and wages contributes to an increase in the income of the population, which, in turn, has a positive effect on the potential opportunities for the qualitative development of human capital. The problems of the social dimension are analyzed through a number of social factors: the demographic situation, the education of the population, the quality of health care, the state of the environment, and the social policy of the state. The authors proved that the process of formation and development of human capital in Ukraine today can be considered more negative than positive. At the same time, the role of the state in forming the prerequisites for the accumulation and growth of human capital is decreasing, since the emphasis of social development has shifted not in favor of the factors of its formation. This is confirmed by the reduction in the share of expenditures for financing all social factors of human development, without exception, in the total amount of state expenditures during the period under study. The key directions and levers for ensuring the sustainable growth of human capital, including during the post-war reconstruction of Ukraine, are proposed, based on the formation of a targeted socio-economic policy aimed at its preservation, accumulation, and development. The levers defined by the authors will make it possible to form a balanced vector of the socio-economic development of society, and their implementation at the state level will contribute to the accumulation, growth, and qualitative transformation of human capital, which, in turn, will create opportunities to increase the level of human development in Ukraine.
The social security system of individuals as a key determinant in implementing the economic policies of business entities
(Alfred Nobel University, 2025-07-04) Zakharii Varnalii; Oksana Mykytiuk; Tetiana Onysenko; Ihor Pampukha
In response to the complex socio-economic changes caused by the ongoing military conflict in Ukraine, this article explores the critical role of employee social security systems within enterprises as a foundation for sustainable business development and effective economic policy implementation. Social security has become an indispensable factor for companies operating in uncertain environments, where the well-being and stability of employees directly impact productivity, engagement, and long-term resilience. Recognizing these dynamics, the authors aim to provide a comprehensive understanding of social security as a primary driver in managing corporate economic policies and enhancing organizational stability, particularly in challenging wartime conditions. The social security system for individuals employed by entrepreneurial entities encompasses a broad range of policies, programs, and practices designed to protect employees’ welfare and mitigate risks arising from economic volatility, external threats, and internal vulnerabilities. In the face of military aggression, these policies must go beyond conventional frameworks, aligning with corporate social responsibility (CSR) strategies that address not only economic but also social priorities within the broader corporate management paradigm. This article argues that modern management theories and practices in Ukraine require stronger methodological and practical support to develop social security frameworks that prioritize the well-being of the workforce as a strategic asset. A key aspect of this work is the critical examination of CSR and its role in constructing resilient social security systems. Through a review of recent literature and methodologies, including studies on internal CSR mechanisms, the authors highlight how modern enterprises can create favorable conditions for highly qualified personnel, which are crucial for navigating complex production challenges. However, a gap remains in Ukrainian business practices regarding the implementation of CSR models focused on internal social security—a gap that is particularly significant during crises such as wartime and post-war recovery. This article addresses this gap by providing a comprehensive analysis of CSR-based social security and its potential to enhance employee morale, loyalty, and productivity under adverse conditions. The article also explores the importance of fostering corporate citizenship, where companies take on roles akin to «good citizens» by contributing to regional and national stability through social initiatives. Such actions not only enhance a company’s reputation but also create a supportive environment that benefits both employees and the wider community. In this context, the authors propose practical recommendations for developing a CSR framework that integrates social security into the core of economic policy and operations, emphasizing the value of community-oriented and resilient practices.
Post-war policy for structural modernization of the Ukrainian economy: foreign trade and institutional aspects
(Alfred Nobel University, 2025-07-04) Oleh V. Pustovoit; Tamara O. Ostashko; Oleksandr S. Bykonia; Volodymyr K. Olefir
Since the 1960s, Western scholars have been collecting data on the dynamics and factors behind the postwar economic recovery of developing countries that have experienced military aggression, economic destruction, and human loss. Summarizing the collected data made it possible to propose the assumption that, in the context of a chronic lack of domestic financial resources, foreign (international) aid became the main factor in the accelerated post-war recovery of national economies. It was used more effectively in countries with better fiscal, monetary, and trade policies, as well as the rule of law. At the same time, it was assumed that businesses would independently find solutions regarding the areas of economic activity that should be developed to maximize their incomes. An increase in the level of economic activity in these areas would accelerate the growth of the national economy and shorten the period of its post-war recovery. Along with the works of Western scholars, the theoretical basis of this article draws on domestic studies, which demonstrate that, in Ukraine, international aid can play a key role in accelerating economic recovery – provided its use is guided not only by the needs of enterprises that have suffered destruction but also by a targeted state policy. This research focus is supported by the collected data, which show that, despite the war, the domestic economy still maintains the prerequisites for restoring the export-raw materials model of development. Historical experience has shown that this model is insufficient for ensuring high rates of economic growth and national reconstruction. To reduce the risks associated with restoring the export-raw materials model of development, the article proposes developing and implementing a state policy for the post-war structural modernization of the economy in Ukraine. Appropriate political measures should contribute to increasing the technological complexity of domestic commodity exports. An evidence base has been collected to justify the allocation of part of the state and international aid for the recovery and reconstruction of enterprises that, during the f irst five years after the war, will be able to produce export goods of increased technological complexity worth 11.765 billion USD (an average of 2.353 billion USD per year). To achieve such results, these enterprises should restore and increase by 54.9% the export of high-value (non-price, quality) competitive products; process approximately 27% of exported iron ore into final products; 8% of titanium ore; 25% of soybeans; and 5% of corn; and double the volume of organic product sales on foreign markets. If, in the post-war period, the export of goods begins to grow at the indicated volumes, and the export-to-import coverage ratio returns to the level of 2021 (i.e., to a value of 0.93, compared to 0.57 in 2023), then it can be expected that the forecasted average annual economic growth rate of Ukraine will increase from 3.5% to 6.5%. This will lead to a reduction in the economic recovery period from 8 to 5 years. Moreover, the recovery will occur at a qualitatively higher technological level compared to the economy that existed before 2021.
Assessment of the potential of Ukraine’s economy in the sphere of inclusive development
(Alfred Nobel University, 2025-07-04) Alina Yu. Zhukovska; Oleksandr V. Dluhopolskyi; Tetiana L. Zheliuk; Oleksandr V. Brechko
In contemporary conditions, national economies face numerous challenges and threats, with economic and social inequality being central. These issues provoke extensive discussions on identifying effective mechanisms and tools to mitigate poverty and eliminate discrimination in all its forms. Addressing these challenges requires the practical implementation of the principles of inclusive development within the framework of national economic management. This study aims to analyze the structural components of the national economy’s potential for inclusive development, formulate a methodology for its assessment, apply this methodology to the case of Ukraine, and propose strategies for the optimal utilization of Ukraine’s existing potential in the sphere of inclusive development. The research employs systematization methods, Porter’s model, correlation-regression analysis, and normalization techniques. The findings indicate that the potential of the Ukrainian economy in the domain of inclusive development is still in its formative stage. The study reveals that the most significant contributors to the development of this potential are: production potential (GDP per capita: 0.561947), financial potential (the proportion of state budget expenditures on social protection and security: 0.07946), investment potential (gross national savings: 0.077749), digital potential (the proportion of individuals using high-speed Internet services: 0.040381), and institutional potential (perception of corruption in the public sector among business circles and experts: 0.053032). Conversely, the elements with the least impact on inclusive development include innovative potential (the proportion of GDP spent on research and development: 0.000843), labor potential (unemployment rate: 0.001797), scientific potential (number of research and development organizations: 0.002018), and human potential (literacy rate: 0.001266; average years of education: 0.00186). The study identifies several negative trends that hinder inclusive development in Ukraine. These include labor, demographic, and human potential, which are affected by high levels of migration and internally displaced persons; infrastructural potential, weakened by the destruction of infrastructure due to armed conflict; and institutional potential, characterized by pervasive corruption. Based on the assessment of Ukraine’s inclusive development potential, the following strategic directions are proposed to enhance its utilization: promoting the development of the ‘silver economy’ and digital economy; integrating inclusive approaches into the public administration system, healthcare services, and the entrepreneurial sector of the national economy. This research contributes to the theoretical and practical discourse on inclusive development by providing a robust methodological framework and strategic recommendations for enhancing national economic potential in alignment with inclusive development goals.

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