Economics, Finance and Management Review

ETHİCAL ISSUES AND ETHİCAL LEADERSHİP İN TOURİSM AND ACCOMMODATİON BUSİNESSES

Erhan Kılınç, Recep Yücel, Şebnem Yücel — Mon, 30 Dec 2024 00:00:00 +0200

This study explores the ethical challenges and significance of ethical leadership in tourism and accommodation businesses. Recognizing the pivotal role of the tourism sector in economic development and global entrepreneurship, the research highlights the critical need for sustainability and social responsibility. Ethical leadership, characterized by guiding moral principles and fostering a positive organizational climate, is identified as a key factor in enhancing employee satisfaction, reducing turnover, and improving corporate reputation. The research aims to examine the interplay between ethical issues and leadership in the tourism and accommodation sectors, emphasizing the importance of sustainable practices and proposing a framework for ethical leadership. The study employs a comprehensive literature review to identify ethical concerns and assess the impact of ethical leadership. It incorporates insights from interdisciplinary research and theoretical frameworks, including social learning theory and organizational behavior models. Ethical leadership emerges as an essential component for addressing challenges such as environmental impacts, social responsibilities, marketing ethics, and workforce issues. The findings indicate that ethical leadership fosters sustainable practices, enhances employee commitment and performance, and supports responsible tourism development. The study underscores the necessity of embedding ethical leadership in tourism and accommodation sectors to promote long-term sustainability and stakeholder trust. It highlights the need for an ethical framework encompassing leadership, data management, marketing ethics, and corporate social responsibility. Further investigation is encouraged to develop practical applications of ethical leadership, explore its cross-cultural dimensions, and integrate ethical considerations into tourism and hospitality education curricula. This research could provide actionable strategies for advancing ethical practices in the sector.

BUSINESS ETHICS AND IT PROJECT MANAGEMENT IN THE PROCESS OF UKRAINE'S POST-WAR RECOVERY

Sergey Rybak, Oleksandr Burkovskyi, Yevhenii Burkovskyi — Mon, 30 Dec 2024 00:00:00 +0200

Considering Ukraine's course towards European integration and the rapid progress in digital technologies, there is a pressing need to modernize the financial, legal, and economic regulation of the digital economy, ensure the free flow and proper protection of data, and systematize ethical principles in business and effective IT project management to meet modern requirements and international standards. The purpose of the study is to analyze the significance of ethical principles in business and effective IT project management during the post-war recovery of Ukraine. To achieve this goal, various scientific analysis methods were employed, including systematization, systems analysis, logical analysis, synthesis, generalization, comparative analysis, modeling, structural, and functional analysis. The study highlights key aspects of applying ethical norms in the activities of companies implementing digital initiatives aimed at rebuilding critical infrastructure, strengthening cybersecurity, and advancing digital technologies. It examines the impact of ethical standards on managerial decision-making in the field of information technology. Additionally, the research addresses cybersecurity issues as one of the priority components of the post-war recovery and digital transformation of the country. The practical significance of the conducted research lies in the fact that the conclusions and recommendations developed by the author and proposed in the article can be utilized for: developing strategies to improve ethical standards in the management of IT projects;implementing effective mechanisms for managerial decisions in the field of digital initiatives aimed at restoring critical infrastructure and strengthening cybersecurity; enhancing the efficiency of management practices in the context of Ukraine's post-war recovery. Further research may focus on improving the methodology for assessing the impact of ethical standards on the efficiency of IT project management, particularly in the context of digital initiatives and innovations.

INTEGRATION OF ARTIFICIAL INTELLIGENCE INTO THE CORPORATE MANAGEMENT SYSTEM

Yevheniia Khaustova, Taras Riabokin — Mon, 30 Dec 2024 00:00:00 +0200

The article examines the potential of Artificial Intelligence (AI), with a focus on Machine Learning (ML) and Deep Learning (DL), in the domain of corporate management. A review of the literature and existing practices reveals that AI has the potential to significantly transform traditional business processes, enhance decision-making efficiency, and provide corporations with substantial competitive advantages in the market. The mail goal of thi study is to analyse some options for integrating artificial intelligence into the corporate management system, to explore the impact on the quality of management decisions, and to identify the main disadvantages and threats of using artificial intelligence models in corporate management. The following methods were used in the research process: literature review and systematization of knowledge, empirical analysis, case study and optimization method. The study in question provides a detailed examination of the application of Machine Learning (ML) and Deep Learning (DL) in a number of key areas of corporate management, including shareholder relations, forecasting, process optimization, risk management, and human resources management. A key finding of the study is that AI enables companies to gain deeper insights into their customers, markets, and internal processes through data analysis. This, in turn, facilitates the development of personalized products and services, optimization of marketing campaigns, and enhancement of customer loyalty and stakeholder understanding. However, the authors of the article also highlight several challenges associated with the implementation of AI, including: data quality (the effectiveness of an AI system directly depends on the quality and quantity of data used for training the models); transparency of algorithms: (the complexity of Machine Learning and Deep Learning models often complicates the understanding of the reasons behind specific outcomes, which can lead to skepticism about the reliability of artificial intelligence systems). The social implications of AI are multifaceted and warrant further investigation. The use of AI may give rise to moral issues, including discrimination, bias, and job displacement. For the successful implementation of AI in corporate management, the authors offer a number of recommendations, including investing in the development of data infrastructure, attracting qualified specialists, developing clear strategies and policies for the use of AI, as well as constant monitoring and evaluation of the effectiveness of AI systems.

UNLOCKING POTENTIAL: EMBRACING NEURODIVERSITY AND MENTAL HEALTH IN THE WORKPLACE

Liyousa Taghikilanidamavandi — Mon, 30 Dec 2024 00:00:00 +0200

This article investigates the transformative potential of integrating neurodiversity and mental health inclusion into the workplace, emphasizing the benefits of acknowledging diverse cognitive abilities. The primary aim of this study is to explore the transformative potential of neurodiversity and mental health inclusion within the workplace. It seeks to understand how organizations can leverage the unique strengths of neurodiverse individuals, such as those with autism, ADHD, and dyslexia, to enhance innovation, productivity, and team dynamics. This study employs a secondary research methodology to explore the impact of neurodiversity and mental health inclusion on organizational performance. By synthesizing existing literature, case studies, and reports, this research provides a comprehensive understanding of the benefits and challenges associated with diversity and inclusion initiatives in the workplace. The article highlights the importance of creating supportive environments for employees with mental health conditions, including veterans of the Ukraine-Russia war with PTSD, to foster well-being and productivity. By examining successful case studies and drawing on contemporary research, this article offers a framework for organizations to harness the power of diverse minds. This article argues that embracing these differences is not just a social responsibility but a strategic imperative for achieving sustainable growth and competitive advantage in today’s dynamic business landscape. The study also identifies barriers such as stigma, lack of awareness, and systemic biases that organizations must address. Proactive leadership, comprehensive education initiatives, and culturally sensitive practices are essential for overcoming these challenges. The role of transformational leadership emerges as pivotal in promoting acceptance and fostering an inclusive culture. The insights and strategies presented offer a roadmap for businesses to harness the power of diverse minds, enabling sustainable growth and innovation. Future research should focus on primary data collection and exploring intersectional dimensions of neurodiversity and mental health inclusion to deepen understanding and refine strategies for diverse workplace integration.

DEBT POLICY IN TIMES OF CRISIS: MANAGEMENT TECHNOLOGIES AND COUNTERING SINGULARITY

Serhii Petrukha, Volodymyr Okhrimenko, Dmytro Matsenko — Mon, 30 Dec 2024 00:00:00 +0200

The Russian-Ukrainian war has triggered profound changes in Ukraine's public finance sector, including a significant reduction in the state's tax potential, a sharp increase in expenditures for security and defense needs, social sector costs, and greater reliance on external financing sources. Since the beginning of the military invasion, the volumes of Ukraine's domestic and external debt have been rapidly increasing due to the need to finance the budget deficit. With a decline in economic growth rates and an increased dependency on financial support from partner countries, there is an acute need to explore new technologies for managing public debt and countering singularity. The article aims to highlight the peculiarities of Ukraine's debt policy in times of crisis. Its purpose is to analyze the use of public debt management technologies within the framework of Ukraine's debt policy during crises to prevent public debt from exceeding critical levels. The article examines the main technologies for managing public debt employed under Ukraine's debt policy from 2015 to 2024. Statistical analysis methods (structural, dynamic, and comparative) are used to assess the dynamics and structure of state and government-guaranteed debt during 2019–2024, identifying key trends in debt management during crises. The authors provide a detailed examination of the dynamics and structure of Ukraine's public debt, as well as the costs of servicing and repaying it. Particular attention is paid to the effectiveness of using modern public debt management technologies to maintain the sustainability of public finances and counter the phenomenon of singularity—the escalation of debt levels to critical thresholds. The study's findings demonstrate the importance of combining various public debt management technologies and highlight the growing role of strategic planning amid the Russian-Ukrainian war and the financial-economic crisis it has caused, which has heightened debt burdens and raised the risk of default.

FEATURES OF FORECASTING STOCK PRICE CHANGES OF OIL PRODUCTION COMPANIES USING COMBINATIONS OF TREND AND NON-TREND INDICATORS

Vadym Savchenko, Yevgeniy Bobrov — Mon, 30 Dec 2024 00:00:00 +0200

Today, a company's share price is influenced by a wide array of factors, ranging from fundamental internal dynamics to political decisions, industry-specific developments, macroeconomic conditions, and global trends. Investors face challenges in selecting an appropriate approach to identifying the target industry and asset, interpreting analysis results, and determining the optimal market entry point. In this context, several pertinent issues emerge regarding forecasting share price changes for oil production companies (BP p.l.c, Chevron p.l.c, Exxon Mobil Corp., Shell p.l.c) on the stock exchange, particularly concerning the use of technical analysis tools like moving averages and oscillators. This study examines the impact of different moving average settings and their combinations on the accuracy of predicting share price movements. Based on these findings, tasks addressed by such indicators are identified, and a systematic approach to selecting technical analysis tools and their configurations is proposed. The paper explores various methods for forming and interpreting signals generated by individual indicators and their combinations, focusing on their implications for forecasting asset price changes. Several criteria are proposed for evaluating the effectiveness of these approaches during the testing phase. The study compares and analyzes the results of multiple forecasting system configurations, identifying the optimal ones according to the selected criteria. Calculations are based on weekly stock data spanning 2000 to 2024, from which the most effective combination of indicators for the forecasting system is determined. Potential areas for optimization and additional tools to enhance the system are also outlined. Finally, the study concludes that the proposed approach to constructing a forecasting system is viable for executing real stock transactions with the selected companies' shares.

ETHICAL ASPECTS OF BIOECONOMY IN POST-WAR RECONSTRUCTION PROJECTS IN UKRAINE

Nina Petrukha, Illia Demydonok; Oleksandr Hubanov — Mon, 30 Dec 2024 00:00:00 +0200

The study establishes that the bioeconomy is an innovative direction in the development of modern economic systems, as it is based on the principles of rational use of natural resources, integration of advanced technologies, and ensuring conditions for sustainable development. It is clarified that the key foundations of the bioeconomy, which facilitate its interaction with other sectors, include increasing resource efficiency, achieving economic sustainability, ensuring ecological balance, and adhering to principles of social justice. The analysis of bioeconomy development strategies revealed that these strategies often encompass numerous objectives without a clear hierarchical structure, which creates challenges for their practical implementation. It was identified that the successful implementation of these strategies requires their adaptation to national policies, alignment with international standards, and the creation of specific action plans with well-defined measures, timelines, and responsible parties. The study evaluates the significance of the bioeconomy in the context of Ukraine's post-war reconstruction. It is demonstrated that this approach can stimulate economic growth, contribute to environmental recovery, and provide social support. Integrating the bioeconomy into recovery processes enables the rational use of natural resources, the implementation of innovations, the creation of new jobs, and the restoration of economic activity in regions that have suffered significant destruction. It is argued that the application of the bioeconomy in reconstruction projects ensures synergy between economic, environmental, and social outcomes. An organizational-economic management model for the bioeconomy, tailored to the specific conditions of Ukraine’s post-war recovery, is proposed. This model involves establishing engineering centers to assess the technical readiness of enterprises, provide consulting services, and coordinate innovative projects. Additionally, the idea of creating regional investment funds to finance innovative initiatives in the field of biotechnology is proposed and substantiated. It is proven that the implementation of this model will promote the rational use of natural resources, reduce environmental risks, and achieve stable economic development.