Economics, Finance and Management Review https://public.scnchub.com/efmr/index.php/efmr <p><strong>ECONOMICS, FINANCE AND MANAGEMENT REVIEW</strong>&nbsp;(EFMR) is a peer-reviewed journal that publishes economic research results in the form of scientific articles for worldwide publication.</p> <p>EFMR practices a policy of open access to published content, upholding the principles of free dissemination of scientific information and global knowledge sharing for general social progress.</p> <p>EFMR focuses on research that has a high level of scientific validation of the findings and presents new important information for a wide scientific community.</p> en-US office@scnchub.com (Iryna Mihus) office@scnchub.com (Iryna Mihus) Sat, 30 Dec 2023 00:00:00 +0200 OJS 3.3.0.13 http://blogs.law.harvard.edu/tech/rss 60 DECENTRALIZATION'S IMPACT ON ECONOMIC GROWTH: A COMPARATIVE ANALYSIS https://public.scnchub.com/efmr/index.php/efmr/article/view/262 <p><em>This research aims to examine the effect of decentralization, tax revenues as a percentage of GDP, and foreign investment on economic growth using multiple linear regression analysis. The introduction provides a contextual understanding of the importance of understanding the factors that influence economic growth amidst policy changes from pre-decentralization to post-decentralization. Time series data for 49 years (1977-2021) was used for analysis. The independent variables decentralization, tax revenue as a percentage of GDP, and foreign investment were subjected to multiple linear regression on the dependent variable, namely economic growth. Statistical analysis includes evaluation of coefficients, p values, F statistics, and R-squared. The findings show that decentralization and foreign investment have a significant impact on economic growth. However, tax revenues as a percentage of GDP do not show a significant effect on economic growth. This study underscores the important role of decentralization policies and foreign investment in shaping economic growth. This emphasizes the need to formulate economic policy strategies that take these factors into account. However, further research is needed on tax revenues as a percentage of GDP within the scope of this analysis.</em></p> Putri Meliza Sari, Hefrizal Handra, Efa Yonnedi Copyright (c) 2023 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/262 Sat, 30 Dec 2023 00:00:00 +0200 METHODOLOGICAL APPROACHES TO ASSESSING THE LEVEL OF ECONOMIC SECURITY OF THE ENTERPRISE https://public.scnchub.com/efmr/index.php/efmr/article/view/264 <p><em>The article is devoted to the problem of assessing the level of economic security of enterprises in modern conditions. The authors define economic security as an important aspect of the functioning and development of enterprises in a dynamic economic environment. The authors point out the urgency of the problem of finding criteria and tools for assessing this indicator, given the variety of approaches to determining the economic security of an enterprise in the literature. The methodology uses general scientific and special methods, such as analysis, synthesis, logical, terminological, financial, systemic and structural analysis, systematization and generalization, to confirm the reliability of the results obtained. The approaches and methods for assessing the level of economic security of an enterprise depend on the diversity of interpretations of the very concept of «economic security of an enterprise», which leads to the absence of a single indicator for a full assessment of this phenomenon. Different approaches to assessing the economic security of an enterprise are presented through resource-functional, indicator, profit and investment, three-dimensional, program-target, bankruptcy forecasting, economic and mathematical, systemic and economic risk theory. Each of these approaches uses different methods and criteria to determine the level of economic security of an enterprise. It is noted that economic security assessment can be carried out using various methods, such as expert assessments, regression and variance analysis, exponential smoothing, fuzzy systems theory and multivariate statistical analysis. The author emphasizes the importance of a systematic approach that takes into account internal and external relations, interdependence and subordination of the functional components of an enterprise when assessing the level of its economic security. For a comparative analysis of the levels of functional components of the economic security of enterprise, the authors use the calculation of the rates of change of indicators. The general methodology for calculating indicators of the levels of functional components includes analysis and evaluation of the dynamics of indicators, which indicates trends and changes in various areas of economic security of enterprise.</em></p> Alla Milka, Olena Artyukh-Pasiuta, Zhanna Kononenko Copyright (c) 2024 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/264 Sat, 30 Dec 2023 00:00:00 +0200 FORMATION OF ECONOMIC SECURITY OF SMALL AND MEDIUM-SIZED ENTERPRISES IN THE STATE ECONOMIC SECURITY SYSTEM https://public.scnchub.com/efmr/index.php/efmr/article/view/265 <p><em>The economic security of small and medium-sized enterprises is an important component of the economic security of the state and reflects the causal relationship between the military and economic potential and national security and economic power of the country. </em><em>The goal of the article is to identify the problems in forming the economic security of small and medium-sized businesses within the framework of the country's economic security. It aims to develop guidelines for overcoming the complex socio-economic situation, shaping the economic security of Ukraine, and promoting the interests of small and medium enterprises (SMEs).</em> <em>Ukraine needs a well-thought-out policy to ensure the security of economic activity both at the state level and at the level of small and medium-sized businesses. The number of small businesses in Ukraine has been steadily declining over 2015-2022, which is a dangerous trend. At the same time, this situation did not affect sales volumes, as the growth rate of sales by small and medium-sized enterprises in 2022 continues to grow. This is due to the following factors: increased domestic demand for goods and services produced by SMEs, financial support, tax breaks in 2022, and other measures, a decrease in the share of large industry, and an increase in the share of small and medium-sized businesses. The problems of forming the economic security of the state and the economic security of small and medium-sized businesses have been identified. Guidelines for overcoming the difficult socio-economic situation and shaping the economic security of Ukraine and small and medium-sized enterprises have been developed. In order to protect the economic interests of the state, a certain set of measures and mechanisms for representatives of small and medium-sized enterprises is needed, especially in the case of developing solutions. To strengthen economic security, it is necessary to apply a strategy of adaptation to constantly emerging threats, which is largely complicated by the lack of a comprehensive policy in this area and the weakness of public administration. The main priority of the authorities in ensuring the economic security of the state and small and medium-sized enterprises in the future should be to reform the system of state regulation of socio-economic processes, to create an effective environment for the development of small and medium-sized enterprises in Ukraine. </em></p> Mykola Denysenko, Grzegorz Konieczny, Paulina Kolisnichenko, Nataliia Homon Copyright (c) 2024 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/265 Sat, 30 Dec 2023 00:00:00 +0200 MANAGEMENT CHALLENGES FOR STRATEGIC RESTORATION OF FINANCIAL AND ECONOMIC SECURITY OF CRITICAL INFRASTRUCTURE IN THE CONDITIONS OF WAR, BANI WORLD, INDUSTRY 4.0 AND DIGITALIZATION https://public.scnchub.com/efmr/index.php/efmr/article/view/263 <p><em>The possibilities of the real and potential influence of war, BANI World, Industry 4.0 and digitalization on the processes of strategic management of the financial and economic security of critical infrastructure objects have been clarified. Economic security is defined as such a state of protection of corporate resources and business processes of the business entity from negative impact on their functionality, which makes it possible to use the possibilities of their multiplication and effective use to satisfy the interests of various categories of stakeholders and achieve the strategic goals of the business without the threat of its bankruptcy and liquidation. Management challenges for the strategic restoration of the financial and economic security of the critical infrastructure in the realities of the influence of BANI World, Industry 4.0 and digitalization are summarized. Among them are such as the management of the reconstruction of damaged property, of personnel, of partnership relations, of production and business processes, of intellectual capital, of information resources, of competitiveness and business reputation, of level of financial and economic security. Directions for using digitalization opportunities to restore the state of financial and economic security of critical infrastructure facilities are proposed. The main areas where digitalization processes most affect the level of financial and economic security of critical infrastructure objects are highlighted, such as the financial sector, information space, economic relations, educational environment, production processes, administration and communications. The possibility of obtaining such main positive effects from digitalization as the absence of the need to search and store cash, increasing the speed and efficiency of calculations, the possibility of using information from various alternative sources, its verification and updating, providing timely reminders about the need for calculations, purchases has been established; increasing personnel and intellectual potential; increasing the level of safety of employees due to the absence of the need for their personal presence at the workplace; speeding up the communication process.</em></p> Nataliia Zachosova Copyright (c) 2024 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/263 Sat, 30 Dec 2023 00:00:00 +0200 THE INFLUENCE OF INFORMATION TECHNOLOGIES ON THE PROFESSIONAL DEVELOPMENT OF THE RESEARCH AND TEACHING STAFF https://public.scnchub.com/efmr/index.php/efmr/article/view/269 <p><em>The article defines that the general processes of globalization, which have covered almost all spheres of human activity, stimulate the rapid development of an open information society.</em> <em>The modern educator is objectively forced to be more mobile, informed, critical and creative, and therefore more motivated to self-study and self-development. The purpose of the article is to study the prospects for the use of information technologies for the professional development of educators, the formation of the components of information technologies and the need for their use in improving educators’ professional level, namely the use of modern information technologies in professional activities and self-education of teachers and the use of information technologies in the professional growth of the research and teaching staff. The research has proved that the effectiveness of the use of information technology in the professional development of educators depends on the success of solving problems of a methodological nature related to the information content and way of using automated learning systems. The article has examined the influence of the use of information technology on the nature of scientific and cognitive activities of educators, intensification of their independent work with various electronic devices.</em> <em>The research has shown that the use of information technologies is the most effective tool for developing skills and abilities necessary for professional development. The article has also determined the influence of information technologies on the fundamental character of knowledge, diverse and thorough study of the subject area, formation of knowledge necessary for a reasonable explanation of the cause and effect relationships of the studied processes and phenomena, and knowledge of the laws of nature. The research has defined that the direct application of information technologies in the field of education will allow educators to form communication skills and communication culture, will help and teach to search for information and process it using various computer technologies.</em></p> Antonina Kozakevych, Viktoriia Nykonchuk, Svitlana Pashkevych Copyright (c) 2024 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/269 Sat, 30 Dec 2023 00:00:00 +0200 EFFECTIVENESS OF INFORMATION SUPPORT FOR MANAGERIAL COLLABORATION AMONG HOSPITALITY INDUSTRY ENTERPRISES https://public.scnchub.com/efmr/index.php/efmr/article/view/270 <p><em>The management accounting tools that are used in management activities and the main factors that are necessary for successful management accounting are analyzed. The goal we set in preparation of our article, is to reveal the main aspects of the organization of the effectiveness of the management accounting system as a source of information support for the process of management decision-making, the identification of problems that arise in the process of formation and functioning of this system, and the advantages it provides to the hotel business enterprise. The main requirements for information in the management accounting system and their influence on the definition of the concept of "management accounting" are outlined.</em> <em>It was found that the definitions presented in Table 1 have in common that the main task of management accounting is to provide unbiased information necessary for making management decisions by the relevant management units of the enterprise. The content of management accounting and methods of its implementation are presented schematically. The organization of information support of the hotel business is considered in the example of hotel "A" and the information equipment of hotel "A" is studied, in particular 14 personal computers that are combined into one network. The efficiency indicators of the information service of the hotel business are analyzed and it is determined that the highest consumer satisfaction with information support corresponds to the service providing telecommunication services, security service, and engineering service, and in turn, indexing the degree of consumer satisfaction with the information base will allow formalizing the organizational work of the hotel based on needs and expectations, and this will make it possible to select strategic alternatives to improve the quality of the hotel enterprise. </em><em>The </em><em>effectiveness of information support of managerial collaboration among hospitality industry enterprises has been analyzed, measures have been developed to intensify the management activities of Hotel “A” based on the use of information systems and technology. It was proved that they are effective and can be implemented in the activities of the hotel business.</em></p> Zinaida Zhyvko, Svitlana Rodchenko, Tetiana Holovach Copyright (c) 2024 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/270 Sat, 30 Dec 2023 00:00:00 +0200 IMPACT OF THE QUALITY OF FINANCIAL REPORTING INFORMATION ON THE SECURITIES LIQUIDITY OF LISTED COMPANIES ON THE STOCK MARKET IN VIETNAM https://public.scnchub.com/efmr/index.php/efmr/article/view/261 <p style="margin: 0cm; margin-bottom: .0001pt; text-align: justify; text-indent: 14.45pt;"><em><span lang="EN-US" style="font-size: 11.0pt;">Research on the relationship between financial statement information quality and securities liquidity, making recommendations to improve the liquidity of listed companies. The purpose of this paper is to assess the impact of quality of financial reporting on the liquidity of securities of companies on the stock market in Vietnam. Using a mixed method to measure Financial statement information quality, securities liquidity. Using a regression model to evaluate the influence of financial statement information quality on securities liquidity of 149 companies listed on HOSE and HNS in 2022. The information quality characteristics of the financial statements are: Appropriate, Honest, Understandable, Comparative, Timely, Verifiable. To measure the liquidity of securities, the author uses the price and trading volume of securities of listed companies at the beginning of the year, the end of the first quarter, the second quarter, the third quarter, and the fourth quarter of 2022. The analysis results show that six characteristics Financial reporting information quality has a positive impact on the liquidity of securities in companies listed on the Vietnamese stock market. Among them, the most influential characteristic is honesty. The study offers suggestions based on the aforementioned findings to improve the quality of financial report information in order to promote liquidity. At the same time, to make the recommendations feasible in practice, the study also proposes recommendations to create a legal corridor and practical support for relevant factors. The author recommends that businesses need to have independent auditing companies audit annually, and those companies need to be reputable in the professional world.</span></em></p> Thi Nhan Duong Copyright (c) 2024 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/261 Sat, 30 Dec 2023 00:00:00 +0200 IMPROVING TAXATION OF TOURISM ENTITIES TAKING INTO ACCOUNT INTERNATIONAL EXPERIENCE https://public.scnchub.com/efmr/index.php/efmr/article/view/266 <p><em>The tourism industry serves as a significant source of tax revenue for countries worldwide. Taxation of tourism has a substantial impact on the overall prosperity of nations, serving as a stable source of financial resources for local communities. Specifically, in European Union member countries, tourism presently contributes to approximately 10% of the gross domestic product, while in certain countries more reliant on tourism, tax revenues derived from tourism significantly exceed this level. </em><em>In the current stage of development, the tourism sector is experiencing increasingly significant expansion, significantly contributing to enhancing the competitiveness of the national economy and achieving sustainable socio-economic development. The market for tourist services is gaining greater importance, both for specific regions and for many countries as a whole. It stimulates infrastructure development, facilitates job creation, boosts various economic activities, raises the standard of living for populations, and consequently increases the level of tax revenue and collections. </em><em>Research into the theoretical works of domestic and foreign scholars has confirmed that taxation plays a crucial role in the development of the country's tourism sector and contributes significantly to government revenues. Analysis of both domestic and global experiences has identified both positive and negative aspects of taxing businesses within the tourism sector in Ukraine and worldwide. Based on this research, a series of improvements have been proposed to enhance the quality and effectiveness of Ukraine's tourism sector. </em><em>The most crucial task is to improve the taxation system for the tourism business. It has been proposed to change the basis for calculating the tourist tax from the minimum wage to the cost of accommodation per night. Equally important is the introduction of a range of tax incentives to promote tourism development in the country and the targeted allocation of the funds acquired to the tourism industry.</em></p> Vira Shepeliuk, Marian Yunatskyi, Olga Roeva Copyright (c) 2024 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/266 Sat, 30 Dec 2023 00:00:00 +0200 CASH AND CASH CALCULATIONS AS AN OBJECT OF ACCOUNTING, CONTROL AND ANALYSIS https://public.scnchub.com/efmr/index.php/efmr/article/view/267 <p><em>In the article, the authors substantiate the expediency of further research into the meaning of money and calculations in the activities of enterprises of various forms of ownership. The views of scientists regarding the definition of the concept of "money" are summarized.</em> <em>The main tasks of accounting, control, analysis of money are specified. Proposals have been made to increase the effectiveness of the control and analytical process in relation to the cash settlement operations carried out in order to promptly prevent violations in the settlement and payment discipline</em><em>.</em> <em>The purpose of writing this article is to determine the actual issues of accounting, control, analysis of funds in the cash register and directions for their solution. The research used a complex of general scientific methods and techniques of cognition: theoretical generalization, analysis, synthesis, classifications. Grouping and comparison methods were used to determine the essence of money as an object, control and analysis. The methods of concretization and abstraction were used to single out the features inherent in money. The dialectical method, induction, and abstraction became the basis for proposals for improving the control of transactions with money in the process of financial and economic activity of the business entity. </em><em>The achievements of foreign and domestic scientists in the field of accounting, control and analysis of economic operations are the theoretical and methodological basis of the research. In the research process, general scientific methods and techniques of cognition were used: theoretical generalization, analysis, synthesis, classifications. Grouping and comparison methods were used to determine the essence of money as an object, control and analysis. The methods of concretization and abstraction were used to single out the features inherent in money</em><em>.</em> <em>The dialectical method, induction, and abstraction became the basis for proposals for improving the control of transactions with money in the process of financial and economic activity of the business entity.</em></p> Мaryna Shendryhorenko, Lyubov Shevchenko Copyright (c) 2024 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/267 Sat, 30 Dec 2023 00:00:00 +0200 INFORMATION SUPPORT FOR FINANCIAL ANALYSIS OF INDUSTRIAL ENTERPRISES AND THE INFLUENCE OF THE SIZE OF SHOP EXPENSES ON TAX PLANNING AT THE MICRO LEVEL TO IMPROVE MANAGEMENT EFFICIENCY https://public.scnchub.com/efmr/index.php/efmr/article/view/268 <p><em>Basically, any economic activity contributes significant development of economy field and the country at all. The purpose of this topic is researching activity of some enterprise, finding mistakes and providing recommendations that allows to solve them. We suppose it will help to improve certain areas of enterprise activity in the state. The purpose of the study is to consider the information support of the financial analysis of industrial enterprises and the influence of the size of shop expenses on tax planning at the micro level to improve management efficiency</em><em>. </em><em>In the process of the research, the following tasks were completed: the information support of the financial analysis in terms of expenses was investigated; analyzed expenses of the main workshops of "Zaporizhsky Foundry and Mechanical Plant" LLC; the impact of elements of shop expenses on the optimization of the tax planning of the enterprise as a whole at the micro level was analyzed in order to improve management efficiency.</em> <em>The metallurgical industry has a significant and valuable role in the development of Ukraine. Due to this point, our country able to produce own metallurgical products, process metals, create own methods of production in the metallurgical industry, and create new connections with foreign partners for the import and export of metals and metal structures. </em><em>The conducted research allows us to divide the conclusions into certain points: The information provision of financial analysis is revealed. We found out how expenses affect the financial result of the activity. An analysis of the costs of the main workshops of Zaporizhzhya Foundry and Mechanical Plant LLC was carried out, namely foundry, mechanical shop, metal structures. Proposals for improving the economic activity of Zaporizhzhya Foundry and Mechanical Plant LLC were provided. The influence of elements of workshop costs on the optimization of tax planning of Zaporizhzhya Foundry and Mechanical Plant LLC at the micro level was analyzed in order to improve management efficiency. </em><em>Summarizing this work, it is worth noting the situation of industrial enterprises in Ukraine is important as a whole. In the face of intense hostilities, they continue their work even with such problems as: logistical disruptions, rocket attacks on enterprises, lack of funds both at the enterprise itself and in the state budget, and all for the sake of speeding up our Victory of the Ukrainian people in this terrible and protracted war.</em></p> Tetiana Melikhova, Yevhenii Melikhov Copyright (c) 2024 https://creativecommons.org/licenses/by-nc/4.0 https://public.scnchub.com/efmr/index.php/efmr/article/view/268 Sat, 30 Dec 2023 00:00:00 +0200