scholarly journals Impact of the Covid-19 Pandemic on Entrepreneurial Capacity and Financial Security in Ukraine

2021 ◽  
Vol 126 ◽  
pp. 08002
Author(s):  
Yana Derbenova ◽  
Ganna Kashyna ◽  
Serhii Leontovych ◽  
Olena Ablova ◽  
Oksana Dmitrieva ◽  
...  
Keyword(s):  
Financial Stability ◽  
System Analysis ◽  
Negative Impact ◽  
Business Activity ◽  
Financial Security ◽  
Economic Activities ◽  
Investment Activity ◽  
The World ◽  
Business Entities ◽  
The Impact

The article analyzes the impact of the COVID-19 pandemic on business activities in Ukraine and the world and its financial security. The analysis showed that the economy of Ukraine and most countries of the world suffered significant losses from the introduction of anti-epidemic restrictions on business activity, which turned out to be in the fall of GDP, index of industrial production investment activity. Because of temporary or complete shutdown of business the unemployment rate increased significantly. The pandemic crisis also negatively impacted the financial results of enterprises, which decreased significantly in all kinds of economic activities, especially in industry, transport, temporary accommodation and catering, where the share of unprofitable enterprises reaches 73%. Thus, the problem of ensuring the financial security of business becomes relevant. The aim of the work is to develop methodological approaches to assessing the impact of the pandemic crisis on the financial security of business and to identify effective ways of ensuring such security. In the process of research methods of scientific abstraction, comparative and system analysis and synthesis, systematization and logical generalization were used. It was determined that the pandemic affected small and medium businesses most of all, where a strong negative impact was experienced by more than 60% of entrepreneurs. Large businesses were less affected, but they also suffered significant losses due to the decline in business activity and demand in the domestic and foreign markets. Agriculture was least affected by the pandemic, which suffered the least losses, primarily due to the insignificant impact of restrictions affecting the activities of this business. The paper systematized the risks arising from the factors of the pandemic crisis, identifying their manifestations and financial implications for business. As shown by the research, such consequences are manifested in the form of full or partial loss of profits, problems with debt repayment, reduction of financial stability, liquidity, increase in accounts receivable, increased costs for anti-epidemic measures, etc. Thus, the procedure for assessing the business’s financial security is to take into account all factors that shape the financial situation of business entities during a pandemic crisis in a comprehensive manner.

scholarly journals ANALYSIS OF THE IMPACT OF THE COVID-19 PANDEMIC CRISIS ON THE FINANCIAL SECURITY OF BUSINESS IN UKRAINE

2020 ◽  
pp. 21-28
Author(s):  
О. Zakharkin ◽  
L. Zakharkina ◽  
Yu. Bilous ◽  
V. Holovata
Keyword(s):  
Financial Stability ◽  
Negative Impact ◽  
Financial Security ◽  
Economic Activities ◽  
Investment Activity ◽  
Systematic Analysis ◽  
The World ◽  
Analysis And Synthesis ◽  
Index Investment ◽  
The Impact

The article analyzes the impact of the COVID-19 pandemic on business activities in Ukraine and the world and its financial security. The analysis showed that the economy of Ukraine, like most countries in the world, has suffered significant losses from the introduction of anti-epidemic restrictions on business activities, which manifested itself in falling GDP, industrial production index, investment activity. Due to the temporary or complete cessation of business, the unemployment rate has increased significantly. The pandemic crisis also harmed enterprises' financial results, which declined significantly in all economic activities, especially in industry, transport, temporary accommodation, and catering, where the share of unprofitable enterprises reaches 73%. Thus, the problem of ensuring the financial security of business becomes relevant. The work aims to develop methodological approaches to assessing the impact of the pandemic crisis on businesses' financial security and to identify effective ways to ensure such security. The research used scientific abstraction, comparative and systematic analysis and synthesis, systematization, and logical generalization. It was determined that small and medium-sized businesses were most affected by the pandemic, where more than 60% of entrepreneurs had a strong negative impact. Large businesses suffered less, but they also suffered significant losses due to declining business activity and demand in domestic and foreign markets. The pandemic had the least impact on agriculture, which suffered the least losses, primarily due to the slight impact of restrictions on this business's activities. The paper systematized the risks arising from the pandemic crisis factors and identified their manifestations and financial consequences for the business. Studies have shown that such effects manifest themselves in the form of total or partial loss of profits, problems with debt repayment, reduced financial stability, liquidity, increased receivables, increased costs of anti-epidemic measures, and so on. Thus, the procedure for assessing the business's financial security is to take into account all the factors that shape the financial position of businesses during a pandemic crisis.

scholarly journals Assessment of the Impact of Social Responsibility on Poverty

2021 ◽  
Vol 13 (16) ◽  
pp. 9395
Author(s):  
Egle Jakunskiene
Keyword(s):  
Social Responsibility ◽  
Financial Stability ◽  
Scientific Literature ◽  
Negative Impact ◽  
Well Being ◽  
Poverty Level ◽  
Production Sector ◽  
Business Entities ◽  
The Baltic ◽  
The Impact

Being one of the open social innovations of business entities, social responsibility is taking an important role in our society. It not only contributes to the improvement of the financial indicators of business entities, but also has a significant impact on the economic development of countries and the creation of well-being of the society members. The business contribution to environmental and social initiatives influences various economic processes and, at the same time, affects the level of poverty in countries. The purpose of this thesis is to review the concept of social responsibility and its content after the analysis of the scientific literature, and to assess the impact of social responsibility on poverty indicators after an empirical study. The assessment was performed by using the methods of analysis of the scientific literature, mathematical–statistical analysis, comparative analysis, correlation analysis, as well as by studying the presented statistical data at the level of the three Baltic States — Lithuania, Latvia, and Estonia. The conducted research manifested a significant impact of the business units operating in the production sector on the employed people who are at the brink of poverty, by categorizing them by sex, age, and education. The research revealed the negative impact of the business social responsibility that is directed towards the environment field on the poverty rates of older age (65+) residents, due to the installation of new equipment and technologies. Additionally, business investments mostly affect people with secondary, and lower than secondary, education. The influence of the actual pollution amount in the production sector, to ensure the financial stability of the society, was observed. The research results are significant not only to the Baltic region, but to other economies that are seeking to reduce the poverty level in the country, by integrating the business social responsibility as well.

scholarly journals Formation of a Mechanism for Ensuring the Financial Security of the Bank

2021 ◽  
Vol 25 (1) ◽  
pp. 73-78
Author(s):  
Raisa Kvasnytska ◽  
◽  
Inna Dotsenko ◽  
Dmitrii Prystupa ◽  
◽  
...  
Keyword(s):  
Financial Stability ◽  
Banking System ◽  
Financial Security ◽  
Investment Funds ◽  
Investment Activity ◽  
Banking Services ◽  
Low Level ◽  
External Threats ◽  
Banking Institution ◽  
The Impact

Annotation. Introduction. The current situation in the market of banking services is due to the influence of internal and external factors that make the bank vulnerable to crises. The financial security of the bank is the key to its stable development, so its research is extremely important. The priority of ensuring the financial security of the bank necessitates a comprehensive approach by developing an appropriate mechanism to ensure the financial security of the bank, taking into account the impact of external and internal threats. Purpose. The purpose of the work is to develop elements of the mechanism for ensuring the financial security of the bank, taking into account internal and external threats. Results. Theoretical problems of the mechanism of financial security of the bank are considered. Based on a critical analysis of the economic literature, the author’s interpretation of the concept of “mechanism for ensuring the financial security of the bank” from the standpoint of the impact of internal and external threats. The purpose and tasks of the mechanism of ensuring the financial security of the bank are highlighted. It is proposed to divide the functions of the bank’s financial security mechanism into basic and specific functions, those that are inherent in banking. The principles of ensuring the financial security of the bank are highlighted. It is substantiated that the process of forming the mechanism of ensuring the financial security of the bank is complex and should take into account the impact of internal and external threats. The threats affecting the financial security of commercial banks are ranked, with their division into internal and external. The main threats to the external environment are: global or local financial crises; falling demand for loans and banking services; the level of distrust on the part of legal entities and individuals in the banking system; refinancing volumes and the size of the discount rate; low level of investment activity in the country, and consequently the lack of investment funds. The main internal threats to the bank’s financial security are: errors in strategic planning and forecasting; irrational use of the bank’s potential; low level of return on assets. The stages of the mechanism of ensuring the financial security of a banking institution on the basis of taking into account the impact of internal and external threats have been formed. Conclusions. Based on the proposed stages of the mechanism of financial security of the bank, taking into account the impact of internal and external threats, we can trace all possible options for using strengths and opportunities in developing a strategy for financial stability of the bank, as well as identify factors influencing the bank. Keywords: threats, internal threats, external threats, collateral, mechanism, financial security of the bank, functions of the mechanism, principles of the mechanism, subjects and objects of the mechanism.

scholarly journals Lockdown Policy Dilemma: COVID-19 Pandemic versus Economy and Mental Health

2020 ◽  
Vol 3 (2) ◽  
pp. 37-58
Author(s):  
Hasan Ahamed ◽  
Kazi Tanvir Hasan ◽  
Md. Tamzid Islam ◽  
Faisal Chowdhury Galib
Keyword(s):  
Mental Health ◽  
Negative Impact ◽  
Positive Impact ◽  
Human Life ◽  
Gdp Growth ◽  
Economic Activities ◽  
The People ◽  
The World ◽  
The Cost ◽  
The Impact

Lockdown is considered to be the best of policies around the world to fight the deadly virus of COVID-19 which decimated hundreds of people in the last six months. However, this is not a cost-free measure. Billions of dollars worth of economic activities halted hinging upon these measures imposed by the governments of the countries. For instance, IMF predicted that the GDP growth will decline by 4.9 percent in 2020. Global trade is also expected to plummet by 27 percent in the second quarter of the year. In addition, paucity of recreational activities severely affects the mental health of the people. While imposing lockdown, both the cost and benefit should be analyzed to understand the real benefit of these measures on human life. This study critically examines the impact of the lockdown measures on mental health, and the economy of Bangladesh along with the efficacy of the measures on containing the virus. We found that the negative impact on the economy and mental health surpasses the positive impact of curbing the pandemic. It also compares the efficacy of the measures in different countries to find out the pattern that resembles with Bangladesh. From all the data, we conclude that the cost of lockdown measures in the country is greater than the benefit it brings to Bangladesh.

scholarly journals The Impact Of The COVID-19 Pandemic On Business Activities In Ukraine

2020 ◽  
Vol 1 (1) ◽  
pp. 76-83
Author(s):  
Volodymyr Boronos ◽  
Oleksii Zakharkin ◽  
Liudmyla Zakharkina ◽  
Yuliia Bilous
Keyword(s):  
State Level ◽  
The State ◽  
Government Support ◽  
Insurance Fund ◽  
Financial Security ◽  
Investment Activity ◽  
General Decline ◽  
Study Results ◽  
Business Entities ◽  
The Impact

The article summarizes the arguments and counter-arguments within the scientific discussion on financial security and business resilience to the impact of the COVID-19 pandemic. The bibliometric analysis allowed to determine the appearance of terms in time and revealed the latest research topics. Systematization of literature sources and approaches to solving this problem showed that business in Ukraine and other countries had suffered significantly from introducing anti-epidemic restrictions, the need for which is recognized by the world community. The consequences of such measures were manifested in falling GDP, industrial production index, and declining investment activity at the state level. Unemployment has risen significantly, leading to an additional burden on the Compulsory State Social Insurance Fund of Ukraine in the event of unemployment. The negative effects of the pandemic crisis have also been reflected in the deterioration of businesses’ financial performance, especially in industry, transport, temporary accommodation and catering. In these types of economic activity, the share of unprofitable enterprises reaches 73%, which significantly undermines the financial security of Ukraine. The study aims to assess the impact of the pandemic crisis on business and analyze ways to mitigate such impacts, which should be used at the state level in Ukraine. The study’s methodological tools were the methods of scientific abstraction, comparative and systematic analysis and synthesis, systematization, and logical generalization. The study results showed that the pandemic had the greatest impact on small and medium-sized businesses, where more than 60% of entrepreneurs suffered losses or went bankrupt altogether. Big businesses have become more resilient, but they have also faced significant problems with a general decline in business activity, disruption of logistics processes, losses from employee illness and anti-epidemic measures. Analysis of the risks that arose in the business due to pandemic factors showed that they are manifested in a decrease in revenue and profit, deteriorating profitability, increased costs for storage of finished products and marketing activities. The study showed that in today’s economic environment, effective government support for business should be carried out to form an appropriate mechanism that uses the socio-economic potential of business entities and effectively allocates financial resources.

scholarly journals PROCUREMENT DURING AND AFTER THE CORONAVIRUS EPIDEMIC: HOW TO WORK FURTHER?

2020 ◽  
Vol 8 (5) ◽  
pp. 129-131
Author(s):  
V. I. Pleschenko
Keyword(s):  
Supply Chains ◽  
Negative Impact ◽  
Business Activity ◽  
Rapid Spread ◽  
The World ◽  
The Subject ◽  
The Impact

The rapid spread of the coronavirus epidemic has had a very negative impact on the functioning of existing international supply chains, significantly reduced business activity around the world, and led to the cancellation of previously scheduled travel and meetings. Procurement, as an important part of logistics, has also failed to stay outside the borders of the pandemic crisis. The impact of the epidemic on procurement and the main areas of procurement in the post-coronavirus world are the subject of consideration in this article.

scholarly journals Study of economic development reserves of the hotel enterprises and restaurant industry under the systems analysis method

2019 ◽  
pp. 99-106
Author(s):  
Оlena I. Judina ◽  
Halyna A. Ryzhkova
Keyword(s):  
Economic Development ◽  
Standard Deviation ◽  
Multiple Regression ◽  
System Analysis ◽  
Negative Impact ◽  
Business Economics ◽  
Commercial Activities ◽  
Business Entities ◽  
Administrative Expenses ◽  
The Impact

The purpose of the research. The purpose of this paper is the determination based on the method of system analysis of reserves of economic development of the enterprises of hotel and restaurant services by constructing multiple regression models of industrial and commercial activities and calculation on the basis of factors that characterize development reserves resource potentials and directions of growth of efficiency of business entities. Methodology. The methodology is based on the fundamentals of business Economics, econometrics, mathematical statistics, and publications of domestic and foreign scientists on the problems of economic development of enterprises. To identify, assess and substantiate the results of the study used methods of theoretical justification, grouping, economic-mathematical modeling, factorial, statistical, stochastic, correlation and regression analysis, etc. Results. In the work on the basis of the objective function the model of multiple regression of industrial and commercial activities, which mathematically described the communication patterns and quantitative relationships of its elements (factors or input intensities), defined a differentiated and integrated the impact of costs of operating activities on the profitability of hotel and restaurant management. By calculating βKi-coefficients set share changes standard deviation values of the resultant variable due to changes in relevant economic indicators regression equation on the value of its standard deviation. According to the calculated βKicoefficients that characterize the degree of a variation factor parameter defined by reserves economic development and possibilities of improving the productive performance of enterprises, as reflected in economic and mathematical models. It is proved that the increase in the costs of labor resource development and administrative expenses increases the level of income of the enterprise, and the increase of material costs and expenses on the basic production funds have a negative impact on the efficiency of functioning and, consequently, the development of economic entities. It has also been found that the largest reserves for raising the income level of the hotel and restaurant business are laid down in the cost of OVF and administrative and marketing activities. Practical meaning. The proposed research method-ology was used in forecasting and planning the results of the enterprises. The prospects for further research are to identify trends and to form an effective mechanism for sustainable economic development of hotel and restaurant businesses.

scholarly journals Investing in the Development of Renewable Energy Sources

2021 ◽  
Vol 6 (1) ◽  
pp. 111-116
Author(s):  
Kateryna Prib
Keyword(s):  
Renewable Energy ◽  
System Analysis ◽  
Renewable Energy Sources ◽  
Energy Sector ◽  
Energy Sources ◽  
Investment Activity ◽  
Investment Financing ◽  
Dialectical Approach ◽  
The World ◽  
Business Entities

The purpose of the article is to highlight modern approaches to enhancing investment in the development of renewable energy sources.On the basis of monographic and qualimetric methods, system analysis and a dialectical approach, modern trends in investment in renewable energy in Ukraine and the world have been investigated, the most promising and optimal methods and forms of investment financing have been identified and systematized.It is emphasized that Ukraine entered the TOP-20 of the world rating of states in terms of the volume of investments in renewable energy sources, and the growth of investment flows into the Ukrainian energy sector remains relatively dynamic. However, it turned out that the issue of reviving investment activity remains relevant.The article shows that an increase in the inflow of investments is possible due to the activation of all available forms and methods of financing them. To do this, it is advisable to join international programs of grant, technical and other special assistance, use mechanisms of budgetary state and municipal assistance, develop energy service companies, create special loan products in the energy sector, issue green bonds and activate self-financing.The results of the study on enhancing investments in the development of renewable energy sources can be used to improve investment policy in the energy sector at the level of state and municipal authorities, business entities, individual and institutional investors.According to the results of the study, the article concludes that in order to ensure the development of renewable energy sources, it is necessary to mobilize investment resources from all available sources, develop various forms and methods of financing investments, and also contribute in every possible way to stabilize the working conditions of investors in the energy sector, to strengthen their motivation to invest in development. renewable energy sources. JEL classіfіcatіon: Q42, O16

scholarly journals Analysis of threats spread of Ukraine financial security in a pandemic

2020 ◽  
pp. 85-94
Author(s):  
Svitlana Onyshchenko ◽  
Oleksandra Maslii ◽  
Yevhenii Kalenichenko ◽  
Marіna Kotelevets
Keyword(s):  
Shadow Economy ◽  
Negative Impact ◽  
General System ◽  
Maximum Level ◽  
Financial Security ◽  
Social Phenomena ◽  
Global Challenge ◽  
Financial Condition ◽  
Business Entities ◽  
The Impact

Theoretical principles of financial security and its place in the general system of the national economy were covered. It is noted that from the standpoint of the protective approach the key category of financial security is the threat, the source of which is the uncertainty caused by the properties of social phenomena and processes. The economic essence of threats was revealed and their impact on the financial security of business was characterized. The main destructive factors of the shadow economy and corruption on financial security were studied and the reasons for their spread in Ukraine were highlighted. Trends in the level of financial security in the context of comparing it with regulatory values were analyzed. It is proved that the global challenge to financial security of business and the state as a whole is the COVID-19 pandemic, which is a catalyst for real and potential threats with the maximum level of impact on the financial condition and financial results of business entities in modern conditions. Corruption and the shadow economy were considered according to different methodological approaches, as well as on the basis of correlation-regression analysis. The relationship between the impact of corruption and the shadow economy on the level of financial security of Ukraine has been determined. A high direct linear relationship between the levels of financial security of Ukraine and the shadow economy and corruption was detected. The impact of threats on the financial security of business in Ukraine in a pandemic was analyzed and assessed. It is proved that development of business and ensuring its target parameters of financial security in a crisis would minimize the negative impact of modern threats associated with quarantine restrictions. The priority directions of minimization of threats to financial security of business in the conditions of epidemic danger were defined. It is proved that adaptive management in the face of real threats can minimize financial risks for business and create a foundation for further business development in the post-crisis period, when the impact of the threat would be reduced.

scholarly journals The Impact of COVID-19 on Surgical Training: the Past, the Present and the Future

2021 ◽  
Author(s):  
Marina Yiasemidou
Keyword(s):  
Infection Control ◽  
Surgical Training ◽  
New Technologies ◽  
Negative Impact ◽  
Elective Surgery ◽  
Control Measures ◽  
Negative Consequences ◽  
Surgical Services ◽  
The World ◽  
The Impact

AbstractThe COVID-19 pandemic and infection control measures had an unavoidable impact on surgical services. During the first wave of the pandemic, elective surgery, endoscopy, and ‘face-to-face’ clinics were discontinued after recommendations from professional bodies. In addition, training courses, examinations, conferences, and training rotations were postponed or cancelled. Inadvertently, infection control and prevention measures, both within and outside hospitals, have caused a significant negative impact on training. At the same time, they have given space to new technologies, like telemedicine and platforms for webinars, to blossom. While the recovery phase is well underway in some parts of the world, most surgical services are not operating at full capacity. Unfortunately, some countries are still battling a second or third wave of the pandemic with severely negative consequences on surgical services. Several studies have looked into the impact of COVID-19 on surgical training. Here, an objective overview of studies from different parts of the world is presented. Also, evidence-based solutions are suggested for future surgical training interventions.

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