Possibilities of Social Bonds Using to Finance Higher Education Institutions

In many countries, funding for higher education institutions is insufficient and requires the search for new financial instruments and financing models. One such financing model could be the issuance of social impact bonds aimed at improving the efficiency of higher education institutions. The study focuses on the use of financial instruments as social bonds for additional funding of higher education institutions. The peculiarities of social bonds and the possibilities of their application in the field of higher education are explored in the paper. The results of the study comprise three proposed innovative approaches to the development of a mechanism for the issuance of bonds. The first approach assumes that the issuer of social bonds in favour of the university is a bank or other financial institution. The second approach is based on the methodology of issuing social bonds by a university with the participation of the state. The third approach to the use of social bonds is the creation of a platform for financing long-term educational programs; it can be done with the participation of a large company implementing large-scale socio-economic projects. Such platform will have a great social and economic effect.

Fiscal issues of entities’ non-financial reporting

The article identifies areas for strengthening the information value of non-financial reporting data, in particular in terms of its fiscal issues. The author substantiates the issues of disclosure of data on the impact of uncertainty on the entities’ activities based on the results of the analysis of scientific publications and generally accepted international documents. It is proved that high-quality non-financial reporting can serve as one of the tools for attracting additional funding for eliminating the consequences of the COVID-19 pandemic. The article highlights the results of the analysis of non-financial reporting of state-owned enterprises to identify data on the impact of the COVID-19 pandemic on their activities and compliance with the list of sustainability reporting indicators defined in the document “Guidance on core indicators for entity reporting on contribution towards implementation of the Sustainable Development Goals”, developed by UNCTAD ISAR. The paper substantiates that non-financial reporting data can serves as one of the information sources for decision-making at the state level in terms of avoiding fiscal risks (management report, report on payments to government). The core research methods used in the article: bibliometric analysis; synthesis; observation.

COST DISEASE PHENOMENON OF THE CULTURAL AND CREATIVE INDUSTRIES IN UKRAINE

The study of the analysis of the dynamics of indicators that characterize the current state of development of the creative industries sector of Ukraine was conducted to conclude the presence or absence of signs of "cost disease". The analysis was conducted at a high level of aggregation: distinguishing only two segments of the creative industries sector: cultural and creative. The study's relevance is that in a crisis in the economy, it is advisable to diagnose sectors that need support by attracting additional funding from the budget or private funds, as the losses that occur are long-term and difficult to compensate. The study aims to empirically verify the theoretical regularity of Baumol W.I., Bowen W.G. on the manifestation of signs of "cost disease" in the sector of creative industries of the economy of Ukraine based on available statistics. The study's methodology was to identify the symptoms of "cost disease" by comparing indicators of specific segments of the creative industries sector with indicators of macroeconomic dynamics. For this purpose, the time series of macroeconomic characteristics of the Ukrainian economy was used in work. Studies have shown the absence of signs of cost disease in the creative segment of the creative industries sector and the presence of two of the three signs in the cultural segment. In particular, the "lagging productivity" formed during the last five years has been revealed in the cultural segment. The second sign was also confirmed: "catching up" with wages, which is that wages in the cultural segment are growing faster than labour productivity in the diagnosed segment. Comparing the dynamics of the price index in the national economy and the cultural segment of the creative industries sector, we see that prices in the national economy grew faster than prices for services provided in the cultural segment of the creative industries sector. The third sign that indicates the presence of "cost disease" in the cultural segment - is missing. However, the specific income deficit in the cultural segment of the creative industries sector (which has a positive value due to one of the three signs of "cost disease") is offset by two other factors - "productivity lag" and "catching up" wage growth.

Virtual Testing of Seniors: The Feasibility of Research with Online Neuropsychological Tests (FRONT)

Synergic@Home is a feasibility study evaluating the effects of exercise and cognitive interventions for the prevention of dementia in at-risk individuals over age 60. The COVID-19 pandemic changed the study’s methods, with standardized neuropsychological tests needing to be administered virtually. Experience and research into the viability of neuropsychological assessments administered virtually is limited. After receiving permission to adapt the tests for virtual administration, a neuropsychologist, project managers, and research coordinators developed their approach. A PowerPoint presentation using text and visual stimuli from the tests was developed with on-screen instructions for the raters. An iterative development process involved feedback from the team in order to maximize the fidelity of these methods compared to in-person administration. Mock assessments supervised by a neuropsychologist further refined the methods and confirmed rater adherence to standardized procedures. A secure videoconferencing platform meeting privacy requirements was used. Dual monitors for the raters provided instructions on one monitor while stimuli for the participant was on the second monitor. The participant could only see the stimuli. This method of administering neuropsychological assessment, the Feasibility of Research with Online Neuropsychological Testing (FRONT), is being used to evaluate older adult participants in Synergic@Home. Results from this feasibility study may set the stage for new research methodologies and/or clinical evaluations in the future. This project is funded by the New Brunswick Healthy Seniors Pilot Project and the Canadian Consortium on Neurodegeneration in Aging (with grants from Public Health Agency of Canada and the Canadian Institutes of Health Research, with additional funding partners).

Foreign experience of legal regulation of management queues of vehicles in front checkpoints across the state border

The article examines the issue of legal regulation of traffic queue management in front of international road border crossings in European countries on the example of the Republic of Estonia. It is emphasized that carriers and shippers, waiting for several days in a live queue on the state border of Ukraine with the European Union, resulting in economic losses and other inconveniences. The reasons for the queues of vehicles in front of international road checkpoints across the state border are identified and ways to solve them are proposed. The positive and negative aspects of using the electronic queue of vehicles in front of international road checkpoints across the state border of Estonia are analyzed. The procedure for booking a seat in the electronic queue, including the priority one, the procedure for paying for a seat reservation, the procedure for crossing the border using the electronic queue and the features of using the waiting area in front of the checkpoint are revealed. The grounds and procedure for canceling a place in the electronic queue are determined. It is concluded that, as a result of the introduction of a single electronic information system for booking time of crossing the border (GoSwift) in Estonia, Estonian checkpoints are now almost unloaded. Such electronic queues make it possible to streamline a significant part of the processes and add more comfort when crossing it. It is summarized that in order to implement the system of electronic queue of vehicles entering checkpoints across the state border in Ukraine, a number of tasks need to be solved. First of all, assess traffic flows by different modes of transport in the context of the actual capacity of checkpoints, study the local specifics of export-import operations, open temporary pedestrian checkpoints, increase the number of border guards, allocate territory in front of checkpoints and equip waiting areas for developed funds. Which requires additional funding from the state budget, as well as standardization of this issue at the legislative and departmental levels.

COVID-19 and interdisciplinary research: What are the needs of researchers on aging?

COVID-19 has had an extreme effect on older people. Now more than ever we need collaborative approaches to address complex issues within research on aging. However, the pandemic has dramatically changed the way we conduct, interact, and organize research within interdisciplinary groups. This paper describes a case study of how an interdisciplinary institute for research on aging has managed the process of change during COVID-19 restrictions. A design lead, researcher centered approach was used to understand the needs of researchers as they adapted across 6 months. Firstly, an online survey (n=51) was conducted to understand the scope of change and needs. The survey found broad themes ranging from assistance with finding additional funding to adjusting current research proposals. Following the survey, two Co-Design Sessions were conducted. The first session (n=53) diverged thinking to scope ideas from the survey and actionable themes were created. The second session (n=36) was conducted to converge thinking and focus on solutions based on one of these themes. The results revealed a diversity of ideas addressing the needs of interdisciplinary researchers in aging. These ideas spanned from exploring the capacity to do research remotely and creating virtual collaboration spaces to rethinking stakeholder engagement. Received: 1 July 2021Accepted: 12 October 2021

Inclusive universities: evidence from the Erasmus program

The Erasmus Program is the main international mobility program in Europe and worldwide. Since its launch in 1987, it has been growing both in terms of participants and budget devoted to its activities. However, despite the possibility to obtain additional funding, the participation of students with special needs in the program remains extremely low. This work quantifies the participation of these students to Erasmus and explores the network of universities involved in their mobility, along the period 2008–2013. In addition, it proposes a novel index to measure the level of inclusiveness of universities welcoming international students with disabilities. Quantifying and analyzing this aspect could be the basis for better designing targeted policies and for widening the participation of students with impairments to international mobility.

New Venture Creation: A Drift-Variance Diffusion Control Model

A Model for New Venture Creation New ventures go through multiple stages: In the early stage, there is a business concept and preliminary evidence supporting the concept. In later stages, there are revenues and sales. In each stage, there are usually milestones for the venture to meet in order for investors to provide additional funding. Otherwise, the venture is abandoned. The entrepreneur can engage in a set of costly activities that aim to create value and reach the appropriate milestones. In “New Venture Creation: A Drift-Variance Diffusion Control Model,” Wang and Zenios develop a framework for new venture creation. The authors provide theoretical guidance on the optimal policy, which is relatively simple to describe. Their analysis reveals a trade-off between how costly an activity is and how much upside potential the activity generates, and their result shows how a new venture creator can manage that trade-off.

The problem of the Black Sea pollution in Odessa region of Ukraine

The article considers the problem of Black Sea pollution in Odessa region. The researchers made a comparative analysis based on archival and modern materials, statistics on the assessment of pollution of the Black Sea coast around the city of Odessa, as well as adjacent areas to the region. The urgent task of Ukraine as a maritime state is to ensure optimal and sustainable functioning of the maritime complex. The Black Sea has been significantly affected by anthropogenic and man-made activities, which affects its water regime and properties. Therefore, researchers raise the issue of efficient use of natural resources as one of the most important conditions for sustainable social-economic development. In the article we come to the conclusion that the Black Sea ecosystem is affected by the reduction of fresh water, which leads to the influx of inorganic, organic and toxic substances etc. Thus, the researchers highlighted important issues of marine pollution in Ukraine, trying to draw the attention of scientists and the public to address pressing issues and find additional funding for the conservation of the Black Sea ecosystem.

Construction Of Express Roads In Latvian State Main Road Network

Latvian State Road Development Strategy for 2020 – 2040 was approved in the year 2020. It is a vision that includes long-term perspectives, strategic goals, tasks and priorities for road network development, and it is created for more efficient planning of state road network development, as well as, attracting additional funding for state owned roads. The aim of the Strategy 2040 is to create an efficient road network ensuring that the bypass of the Riga City is accessible within two hours from every national and regional development centre in Latvia. Development centres would be accessible within 45 minutes from every Latvian urban settlement along state regional and local roads. The strategic task is to create sections of express roads in the total length of 1000 kilometres thus improving traffic safety and reducing the emissions of greenhouse gases. When creating the Strategy 2040 both the changes in traffic and road use and the changes in the location of population were studied. The Strategy foresees that high-speed express road sections would connect the Riga City with the biggest cities. The proposed plan of road network development is created with the aim to cover as large a population as possible. Special attention is paid to the Riga City, as it serves as the central hub for Latvian and Baltic transportation. After the implementation of the Strategy 2040, the Riga City would be reached within 30 minutes from the nearest development centres.