Economics, Finance and Management Review <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 (Iryna Mihus) (Iryna Mihus) Fri, 11 Aug 2023 10:45:50 +0300 OJS 60 FOREIGN OWNERSHIP AND BANK RISK-TAKING IN VIETNAM <p><em>Foreign ownership of banks in Vietnam refers to the participation and ownership of banks by foreign entities in the country's financial sector. Over the years, Vietnam has gradually opened up its banking industry to foreign investors as part of its broader economic reforms and efforts to integrate with the global economy. Foreign ownership of banks in Vietnam was initially restricted, but the government has implemented various measures to encourage foreign investment in the sector. This balanced approach aims to harness the benefits of foreign ownership while safeguarding financial stability and the interests of the domestic economy. Therefore, it may make the banks more risky and perform the study on the relationship between foreign ownership and bank risk taking become more important.</em> <em>The objective of this study is to examine the influence of foreign ownership on the risks faced by commercial banks in Vietnam. By analyzing data collected from a survey conducted between 2010 and 2020, involving 28 commercial banks in Vietnam, the empirical findings demonstrate that foreign ownership in Vietnamese commercial banks is associated with a reduction in risks. Additionally, the research reveals that lower risks experienced by Vietnamese commercial banks in the past are correlated with lower risks in the present. These findings contribute to the ongoing discourse surrounding foreign ownership in Vietnamese commercial banks, emphasizing the need for policymakers to prioritize the effectiveness of joint-stock foreign ownership.</em></p> Cung Huu Duc Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 STOCK-MARKET AS AN INVESTMENT PLATFORM AMONG BUSINESS COLLEGES GRADUATES <p><em>The stock market reveals the economic condition of the country. Without investors investing in the stock exchange, there would be no existence of a stock market. A stock</em><em>-</em><em>market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately. This research is intended to be a valuable source of knowledge, the public, educational institutions, and potential investors. The purpose of this study is to assess business college students' knowledge of stock market products, investment avenues, institutions, and services. The objective is to evaluate the perception of the business college students on the role of the media and other means in spreading stock-market knowledge. The data was collected through the questionnaire using an online survey. The study involves a quantitative method and the data is computed and tested using SPSS 25. The tools used for analyzing the data were descriptive tools and ANOVA. According to the findings, Colleges have a low level of awareness about SM products and investment/saving opportunities. </em><em>The respondents agree that stock-market modules should be introduced, seminars should be conducted at all educational levels, etc. </em><em>The study revealed that the students of business colleges are aware of the stock market as an investment platform, so they prefer and are interested in investing in SM. With the responses to the awareness of stock-market processes and institutions, the average awareness of the students is high, which indicates that the students among three business colleges have knowledge of SM risk and return. Moreover, it reveals that they are aware of the SM process, which indicates that the students are capable of investing in the future. Furthermore, the students are not that aware of the SM products and investment/saving avenues, but overall, the students are a little more aware of SM products than the investment/saving avenues.</em></p> Vikas Gupta, Sripal Srivastava, Rajiv Ratan Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 THE MAIN WAYS OF LEAKING COMMERCIAL SECRETS AND MEASURES TO PROTECT THEM <p><em>The study is devoted to the study of international experience in the protection of trade secrets in the leading countries of the world. The purpose of the study is a comparative analysis of the features of international experience in protecting the commercial secrets of corporations. The methodological basis of the study was the use of methods of comparative analysis, methods of analysis and synthesis, as well as an expert survey and a graphic method for presenting the results of the study. The main results of the study are the systematization of commercial information according to the degree of protection, as well as the generalization of the practice of the EU member states regarding the protection of commercial secrets. The main ways of disclosing information constituting a commercial secret are classified: communication of the specified information to other persons, in particular to competitors; providing documents containing information constituting a commercial secret to other persons for perusal; notification of the above-mentioned information in mass media, etc. Systematized measures for the protection of confidential information constituting a commercial secret, namely: organizational, legal, physical, technical and psychological. Organizational measures include a set of measures to protect information that is important for the enterprise by restricting access to it. Technical means involve the use of special programs and equipment that make it impossible to view and/or copy important electronic information. Legal measures involve bringing the internal documents of the corporation into compliance by making appropriate additions to them. The study presents the results of a survey of representatives of EU commercial structures regarding the leakage of trade secret information and tools for protection against leakage.</em></p> Hisham Shakhatreh, Esraa Mohamed Ababneh Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 THE MEDIATING EFFECT OF SOFTWARE SOLUTION IN LOGISTICS SERVICE <p><em>This study aims to investigate the role of software solutions and outsourced logistics service providers in the logistics industry in India. The logistics industry in India is a significant contributor to the country's economy, and with the growth of e-commerce and the increasing demand for timely and efficient delivery of goods, the industry has seen significant transformations in recent years. This case study will provide an overview of the Indian logistics industry and the challenges faced by logistics companies in the country. It will then examine the role of software solutions such as transportation management systems (TMS), warehouse management systems (WMS), and supply chain management (SCM) systems in streamlining logistics processes and reducing costs. The study will also analyze the role of outsourced logistics service providers in offering a range of services, including transportation, warehousing, inventory management, and order fulfillment, to businesses operating in the logistics industry in India. The case study will provide examples of companies that have successfully implemented software solutions and outsourced logistics services to improve their logistics operations and gain a competitive advantage in the market. The study aims to demonstrate the benefits of adopting software solutions and outsourcing logistics services for businesses operating in the logistics industry in India. The findings of the case study can provide valuable insights into the role of software solutions and outsourced logistics service providers in the Indian logistics industry and their impact on the industry's growth and competitiveness.</em></p> Anoop Singh, Deepa Rajesh, Sandeep Kumar Gupta, Renu Sharma Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 INFORMATIONAL AND ANALYTICAL SUPPLY IN THE MANAGEMENT SYSTEM <p><em>This article examines and substantiates the importance of informational and analytical supply in the management system. The research purpose is to substantiate the importance of informational and analytical supply for management, to define the components and principles as well as to formulate proposals for improving information and analytical support in order to increase the efficiency of management. During the writing process were used methods of analysis and synthesis were for detailing the research object; systematization, grouping and generalization of information for the logical sequence of the presentation material and theoretical generalizations of the results. For example, abstract-logical for the formation of generalized conclusions and graphic for a visual representation of research results. The components of the informational and analytical supply system and the principles, the observance of which will ensure the quality and efficiency of the information and analytical process are determined. Proposed ways to improve informational and analytical supply in order to improve management efficiency. The article establishes that Information support is an irreplaceable tool and an important component of the organization's management system. Based on the results of the research, the main aspects of information support in the organization's management system are singled out, namely: support of accurate, timely and necessary information, which makes it possible to avoid errors and reduce the risks of making wrong decisions; supporting decision-making processes allows managers to make informed and effective decisions based on data; increasing the efficiency of organization management and ensuring competitive advantages.</em></p> Olha Zhuk, Stanislav Drichak, Vasyl Shуkerynets Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 A SPECIAL STUDY ON EXPORT PROCEDURE AND DOCUMENTATION ON MEENAKSHI CARGO FORWARD PRIVATE LIMTIED <p><em>The article is related to the study of export procedures and their documentation for various types of transportation. Research objective are to analyse the role of different entities in the whole process; a brief on export procedures and documentation in air cargo; a statistical analysis and representation of export data; evaluate the problem and suggested solutions for the system. A research design is the detailed blueprint used to guide a research study towards its objectives. It helps to collect, measure and analysis of data. It is a detailed plan of action for the researcher which defines problem, identify data. It helps to make the research as efficient as possible. Descriptive research seeks to ascertain certain magnitude by making complete study of the topic. It is used in this project to find the effectiveness of air cargo. The researchers was able to understand the importance of information and the flow of information in the right manner within an organization from one department to other Performance management should be integrated vertically linking the strategies objectives of the organization to the execution of activities which will enable their achievement. The performance being managed should reflect the requirements, wants and needs of all of the key stakeholders of the organization and not just reflect a limited set. The performance monitoring, review and action panning process should e structured around the strategic performance objectives of the organization. Processes and systems should be designed to extract and communicate insights rather than performance data. All systems and processes should be aligned with each other, driving behavior towards the performance objectives. Effort should be dedicated to developing an appropriate culture to engage the organization’s employees and elicit commitment to performance objectives Generally, the study helped to fill the gap between theory and practice. Finally, the complete the study on Air Freight in Meenakshi Cargo Forwarders Pvt Ltd was fully understood and the pitfalls have been identified.</em></p> R. Divyaranjani, A. Shameem, Sakthi Kesav Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 SERVICE QUALITY AND CUSTOMER SATISFACTION IN ETHIOPIAN LEATHER INDUSTRY DEVELOPMENT INSTITUTE <p><em>This study's objective is to assess the level of customer satisfaction and product quality in the consultation and project office of Ethiopian Leather Industry Development Institute. Importance of customer satisfaction cannot be undermined for any organisation. The processes and practices of Corporate governance should assess the service gaps and should aim to fulfil the same. The SERVQUAL instrument is used in conjunction with the gap model of service quality to carry out this research. the five SERVQUAL dimensions of tangibles, reliability, responsiveness, assurance, and empathy were used to gauge the extent of customers' expectations and perceptions of service quality. </em><em>A sample of 240 respondents was selected using a non-probabilistic convenience sampling technique. According to the findings of the study all the five dimensions of service quality have shown a negative gap score. This indicates that customers of Ethiopian leather industry development institute consultancy and project office are dissatisfied with the service provided to them hence; there perceptions are below their expectations. The dimension with the lowest negative gap score is assurance followed by tangibles and responsiveness. The findings of the gap analysis also indicate that tangibility and responsiveness are the two dimensions with the highest negative gap scores which makes these two dimensions the largest contributors to customer’s dissatisfaction. Pearson correlation analysis was conducted to examine the relationship between SERVQUAL dimensions and service quality the results shows that all the five dimensions of service quality have a positive relationship with customer satisfaction where tangibility, empathy and responsiveness have a moderate and positive correlation with satisfaction while assurance and reliability have a weak positive correlation with customer satisfaction. Generally, only tangibility and responsiveness dimensions of service quality have shown statistically significant impact on customer satisfaction. Accordingly, Ethiopian leather industry development institute consultancy and project office needs to give more emphasis and due attention to tangibility and responsiveness dimensions of service quality to improve the level of customer satisfaction.</em></p> Renu Sharma, Sandeep Kumar Gupta, Seyoume Taddesse Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 TOURISM IN UKRAINE IN THE WAR CONDITIONS: THE EUROPEAN INTEGRATION ASPECT <p><em>The direction of our research is based on the issue of the development of tourism and the European integration course of Ukraine in the conditions of a full-scale Russian invasion. In the paper, the author emphasizes the need for the development of national tourism both in the conditions of war and in the framework of post-war reconstruction. At the same time, the development of tourism should take place strictly within the limits and taking into account the European integration course of Ukraine.</em> <em>Author emphasizes that today, Ukraine faces a task that consists in the contradiction between the need to integrate into the world economy, on the one hand, and to ensure the protection of national interests and security, on the other. That’s why </em><em>t</em><em>he main aim of our study is the analysis of the development of tourism in the war conditions in the context of the European integration of Ukraine. The paper states, that military actions have a significant negative impact on the tourism industry regions and the whole country. There are reasons for military actions and their impact on tourism security concerns; decrease in demand; infrastructure damage; loss of jobs and a negative image, all of which have a significant impact on development of tourism in Ukraine.</em> <em>At the same time, the author notes that the situation in tourism, as in other sectors of the economy, is closely related to the issue of Ukraine's European course. Thus, the article noted that the experience of European integration of Ukraine in the conditions of war has a unique character. By resisting</em> <em>large-scale armed Russian intervention, suffering from huge human costs</em> <em>and financial and economic losses, the country acquired the status of a candidate for joining the EU, continues European integration in various areas, deepens partnership with the EU in sectoral directions, implements the recommendations of the European Commission and implements the provisions of the Agreement in practice</em> <em>about the association.</em></p> Daryna Hryhorchuk Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 SECURITY THINKING: THE UKRAINIAN CONTEXT <p><em>In an increasingly interconnected world, the security landscape has become exponentially more complex. Organizations and individuals face a myriad of threats, from sophisticated attacks to ever-evolving vulnerabilities. In order to successfully navigate this treacherous terrain, it is critical to develop a safety-focused mindset. Taking this proactive approach can pave the way for resilience to complexity, where strong defenses and adaptive strategies work in tandem to protect our security ecosystem. Security Thinking is a proactive approach to analyzing and addressing potential risks and vulnerabilities in order to enhance security measures. It involves a mindset that prioritizes prevention, preparedness, and adaptability to protect against various threats and challenges. Security Thinking encourages individuals and organizations to consider security implications at every level, from technology and processes to human behavior, promoting a resilient and secure environment. It is a continuous and dynamic process that seeks to stay ahead of emerging threats and evolve in response to changing security landscapes. At the same time, there is another definition. Security Mindset is an individual's or organization's way of thinking that places a strong emphasis on security and risk management. It involves being proactive in identifying potential threats, vulnerabilities, and weaknesses in systems, processes, and behaviors. Developing a security mindset is not an end point, but a continuous journey. Using intellectual rigor and an innovative spirit, you can significantly influence the formation of a security ecosystem. The principles of resilience to complexity and a holistic approach to security, guided by a security-centric mindset, are becoming a dynamic force in protecting the security ecosystem. By integrating physical security, modernized legislation, social engineering, data privacy protection and psychological security, we can build a fortress against a wide range of threats. However, the unprecedented challenges associated with Russia's full-scale war against Ukraine have significantly complicated the architecture of modern security, creating a need for the development of a new paradigm of security thinking and practical tools for its application.&nbsp; </em></p> Oleksandra Liashenko Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 AN ASSESSMENT OF CHALLENGES AND FACTOR INFLUENCING THE FREIGHT FORWARDING BUSINESS IN THE LOGISTICS INDUSTRY <p><em>This</em> <em>research</em> <em>was undertaken with the sole aim of understanding some of the challenges and Factor Influencing the Freight Forwarding Business in the organizations involved the Forwarding and distribution of shipper Cargo encounter in their logistics operations. A freight forwarder is a person or company that organizes shipments for individuals or corporations to get large orders from the manufacturer or producer to market or final point of distribution. Forwarders will contract with a carrier to facilitate the movement of goods. A forwarder is not typically a carrier but is an expert in supply chain management. In other words, a freight forwarder is a "travel agent," for the cargo industry, or a third-party (non-asset-based) logistics provider. A forwarder will contract with asset- based carriers to move cargo ranging from raw agricultural products to manufactured goods. The term Logistics Management or supply chain management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customer's requirements. The research targeted a selected sample of Employees and representatives of transporters of goods and key management personnel of Companies Central Distribution Center based in the industrial area Chennai. The primary objective of this project is to conduct ‘A study on Challenges and factor influencing the freight forwarding business in the Freightkare Multimodal Logistics Pvt. ltd. It is important to analyze the problems faced by freight forwarders from the carriers as well as companies and individual customers. By studying and comparing the various problems faced by the freight forwarders. It is easy identifying the solutions to avoid the problems and make sure the smooth flow of business. This will help Freightkare Multimodal Logistics Pvt. ltd to establish a reasonable share in the marketplace.</em></p> Deepa Rajesh, Sandeep Kumar Gupta, Svitalana Ilinich, Nikhil Singh Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 DEVELOPMENT OF CORPORATE VENTURE CAPITAL UNDER THE CONDITIONS OF INTENSIFICATION OF INNOVATIVE ACTIVITY <p><em>In recent years, corporate venture capital has gained popularity in all areas of the economy in different countries of the world. Along with traditional venture capital funds, business angels and accelerators, traditional corporations also invest in startups around the world. Most often, these processes take place according to the corporate venture capital model. This makes it possible to remove restrictions on the participation in corporate venture funds mainly of legal entities, will open up opportunities for the participation of various subjects in corporate venture funds, and promotes the investment of funds in innovative structures. The purpose of the article is to analyze corporate venture capital, to identify structural characteristics of corporate venture capital and peculiarities of corporate venture investing in Ukraine. During the research, the method of synthesis and analysis, induction (in the study of corporate venture capital, structural characteristics of corporate venture capital and peculiarities of corporate venture investing in Ukraine); the method of schematic, graphic images (for the visual display the received results of the study) has been used. The main structural characteristics of corporate venture capital have been singled out. The signs of structural characteristics of corporate venture capital include the parameters of the corporate venture capital investment model, the types of corporate venture investment goals, criteria for deciding on financing a startup for investors and analysts of corporate investment funds, the types of corporate venture capital investments, the main motives for investment by corporate venture capital funds, ways to promote business growth through corporate investment in venture capital funds, the main financial parameters of the sustainability of corporate venture capital. Ukrainian investors appeared in this field literally 5-7 years ago, but their interest in global international startups is already marked. It was established that for Ukrainian businessmen venture investments at the stages of the B+ series are a new stage of expansion of the investment portfolio. The amount of investment depends on the investor's faith in the project and the arrogance and talent of the startup. If «seed» and «angel» investments are calculated on average in hundreds of thousands of dollars, then capital investments in the innovative business are measured in millions and tens of millions. The main goal of corporate venture capital is strategic innovative business development. Activation of activity through corporate venture capital investments in Ukraine is only developing, and much depends on the business reputation and personal characteristics of managers. Ukraine's economy needs integration into global economic processes through the development of corporate venture capital.</em></p> Mykola Denysenko, Zoryna Yurynets, Rostyslav Yurynets, Ivanna Myshchyshyn Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 AN ASSESSMENT OF CHENNAI PORT CUSTOMS CLEARANCE OPERATIONS <p><em>Customs clearance is a necessary procedure before goods can be imported or exported internationally. If a shipment is cleared, then the shipper will provide documentation confirming customs duties that are paid and the shipment can be processed. The purpose of the article is to study the custom clearance operations in Chennai: to study the challenges faced in the custom clearance; to study the process flow of custom clearance; to study the documents required in the custom clearance. The research design undertaken in this article of descriptive in nature, since it provides a description of the state of affairs as its exists in the organization at performance management. The sample size taken for the study is 100. The instrument used in the present study is Questionnaire. Pilot study were done to test the questions and to make some modifications in the questionnaire. The study concentrated through the analysis of tabulation, comparative percentage, bar diagrams, Chi-square test is used in the appropriate places. Most common customs-related problems are: Misclassification; Duties higher than anticipated; Customs office won't clear the shipment to your buyer/importer; Customs office invoking health, sanitary, or safety issues; Labeling issues involving a certificate of origin, weight, ingredients, marks, etc.; Inadequate documentation provided by the exporter; Issues involving the import or packing regulations of the receiving country. The Present Value of Import duty. </em></p> Sandeep Kumar Gupta, Svitalana Ilinich, V. Noah Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300 THE MAIN LOSSES OF THE UKRAINIAN ENERGY SYSTEM AS A RESULT OF MASSIVE ATTACKS BY RUSSIA <p><em>For Ukraine, which is in a state of hybrid war with the Russian Federation, the issue of effective counteraction to the consequences of massive Russian attacks on the energy system of Ukraine is vital. Therefore, the study of the state of the electric power industry after the terrorist attacks of Russian aggressors and the actions of the authorities to neutralize the damage caused by the enemy is an extremely urgent task.</em> <em>The purpose of the article</em> <em>is to analyze the state of the electric power industry after the terrorist attacks of Russian aggressors and the actions of the authorities to neutralize the damage caused by the enemy.</em> <em>The structural-functional method helps to identify the main elements of conflict interaction, to determine the role of each of them. In this case, we are talking about the actions of the state-terrorist regarding the massive attacks of Russians on the energy system of Ukraine, but also in the ability of the Ukrainian authorities to guarantee the stable functioning of the electricity industry in war conditions.</em> <em>The method of expert assessments, the essence of which is that it is experts: scientists, politicians, journalists who give professional, unbiased assessments of objective and subjective factors affecting the situation in the electricity sector. Historical - critical method, which means the study of the emergence, formation and development of objects in chronological sequence. In this case, we are talking about the study of the emergence and further development of the Ukrainian-Russian war.</em> <em>The main results of the research presented in the article consist in the systematization of total losses of the energy system of Ukraine during the war. The article proposes the main measures to restore the energy system of Ukraine.</em></p> Dmytro Tkach, Dmytro Tkach Copyright (c) 2023 Fri, 30 Jun 2023 00:00:00 +0300