CONCEPT OF APPRAISAL INSTITUTIONS IN ASSESSING THE VALUATION OF INTANGIBLE ASSETS ON SMALL MEDIUM ENTERPRISES INTELLECTUAL PROPERTY AS OBJECT OF CREDIT GUARANTEE TO IMPROVE COMMUNITY'S CREATIVE ECONOMY

This study aims to analyze the factors that affect the effectiveness of Intangible Assets of Intellectual Property of Small and Medium Enterprises as objects of credit guarantees, and the concept of appraisal institutions in assessing the valuation of intangible assets of intellectual property of Small and Medium Enterprises as objects of credit guarantees in order to improve the creative economy of the community. The method used in this research is empirical juridical. The data used are primary data and secondary data. Data collection techniques data collection through library research and field studies (through questionnaires, focus group discussions, and interviews). The results of the study found that the five factors that affect the effectiveness of Intangible Assets intellectual property of Small and Medium Enterprises as objects of credit guarantees are legal factors, law enforcement, infrastructure, society and culture. The legal factor that affects is there is no special legal product for public appraisers of IPR Intangible assets. In the practice, IPR intangible assets have not been accepted by all banks as objects of basic guarantees but only as objects of additional guarantees. It is caused by no trust from the bank toward the value of IPR as basic guarantees, there have been no appraisal institutions, and there is not intellectual property rights market yet, that makes IPR is not commonly used by banks and SMEs as IP owners. The concept of appraisal institutions in assessing the valuation of intangible assets of intellectual property of small and medium businesses as objects of credit guarantees, in order to improve the creative economy of the community, is necessary to form an appraisal agency through the products of laws and regulations. These regulations, among others, regulate the intangible assets of IPR, the purposes and objectives of the IPR assessment, the requirements to become an IPR appraiser, the function and authority of IPR assessment, the valuation method used, and so on.

Peculiarities of financial state support of small and medium enterprises in ukraine in modern conditions

Problem setting. The formation of state policy to support small and medium enterprises (hereinafter - SMEs) requires consideration of global developments in the direction of legal regulation and economic and managerial justification of certain forms of support. In addition, within the globalized market, as well as taking into account Ukraine's desire to approximate national legislation to EU law, it is not possible to create mechanisms to support SMEs without adapting to global standards, that is, mechanisms similar to conventional ones should be invented. Of course, international documents, including the European Charter for Small Enterprises, can be a guide. Analysis of resent researches and publications. Legal analysis of certain means of state support for small and medium enterprises was carried out by such scientists as N. M. Vnukova, S. V. Hlibko, A. M. Lyubchych, I. V. Podrez-Riapolova, A.T. Zavadska and others. At the same time, this paper will analyze the implementation of financial support for small and medium enterprises, taking into account current government programs. The target of research is to conduct a comprehensive analysis of financial support for small and medium enterprises provided by the state, represented by public authorities and local governments, taking into account the principles of European Union law and current national and international programs to support entrepreneurship in Ukraine. Article’s main body. One of the most popular and effective forms of support is state financial support for SMEs. It is noted that the support from the financial and credit system reflects, in fact, the financial and economic relations between the state and market actors on the redistribution of funds. The state program «5-7-9» offers partial compensation of the interest rate on the hryvnia loan in combination with the mechanism of partial credit guarantees to address the problem of lack of collateral and insufficient credit history. The program is implemented by the Ministry of Finance of Ukraine, the Foundation for Entrepreneurship Development (formerly the German-Ukrainian Foundation) through a network of partner banks in partnership with the Ministry of Economy and the Office for Small and Medium Enterprises to prevent, spread and eliminate COVID-19 disease caused by the crown virus SARS-CoV-2, and to prevent and overcome their effects. By analyzing the statistical information of the ten largest banks, it was found that there is no unity in the terms of lending, lending is not within a single program, but for individual loan products of banks, which may differ from each other. Conclusions and prospects of the development. Summarizing the above, it is possible to conclude that the current state policy to support SMEs is characterized by the presence of a significant network of funds. One of the most relevant of these is the provision of soft loans. At the same time, there is insufficient information support for the process of direct provision of this support. In view of this, it should be noted that in order to ensure the economic security of the state, these forms should be used through a system of state bodies and organizations, local governments and organizations that must exist in reality, and electronic (virtual) portals for services should operate in additions to the real ones.

An Algorithm for the Pricing and Timing of the Option to make a Two-Stage Investment with Credit Guarantees

We develop a jump-diffusion model for a guarantee-investment combination financing mode (G-I mode) that is recently popular in financial practice. We assume that a borrower has exclusively an option to invest in a project in two stages. The project’s cash flow follows a double exponential jump-diffusion process and it is increased by a growth factor once the second-stage investment is exercised. The first-stage investment cost is financed by a bank loan with the guarantee provided by an insurer, who promises to provide the second-stage investment cost as well as take the lender’s all default losses. In return for the guarantee and investment, the borrower pays a guarantee fee upon first investment and grants a fraction of equity upon second investment to the insurer. In sharp contrast to prior papers on guarantee, the guarantee costs are contracted prior to investment. We provide closed-form solutions and produce a numerical algorithm for the timing and pricing of the two investment options.

THE WEALTH EFFECT IN AGRICULTURE IN LIGHT OF EXPERIENCES OF FARMS FROM THE WIELKOPOLSKA REGION

The aim of the article is to initially identify the characteristics of farms in which the wealth effect appears and recognize the extent of this effect in market farms in the Wielkopolska Region. This was realized based on the results of 120 questionnaire surveys of farms in the Wielkopolska Region. The research shows that there is a group of farms in which the wealth effect takes place (9.2% in the surveyed group). This mainly applies to units specializing in field crops. Farms in which the potential wealth effect appears are characterized by a larger area of arable land but, on the other hand, by a lower income, value of assets and output. In addition to the risks associated with this effect, there are also positive aspects relating to an increased economic activity of farms or an increase in the possibility of credit guarantees. In the context of research results, it would be advisable, in the future, to increase the degressivity of area payments under the CAP due to their lower impact of payments on the capitalization of subsidies and, thus, the intrinsic increase in asset value in farms.

Laporan Keuangan UMKM Katering Mbok Dade dan Pengaruhnya Pada Akses Kredit Perbankan Era Pandemi Covid-19

This study purpose to determine the effect of SMEs financial reports on access to credit that can be received by SMEs entrepreneurs in the Covid 19 pandemic. This study uses primary data obtained from direct observations with catering owners Mbok Dade. The analysis technique used is observation and literature study. The results of the study indicate that the SMEs Financial Statements can be one of the supporting factors in obtaining access to bank credit. Other factors can be in the form of prospective customer profiles and credit guarantees.

Economic safety of Ukrainian railways: ways to exit the crisis.

The author has emphasized that the quarantine and social distancing measures needed to reduce the spread of the pandemic have a particularly serious impact on small and medium-sized enterprises due to a sharp decline in demand for services, with the exception of food retail. Transport is no exception and also suffers significant losses due to reduced traffic. The economic activity and the level of GDP of Ukraine during the last years are analyzed. The policy measures implemented during the quarantine period, which were designed to provide targeted financial support to small and medium enterprises, are outlined. The current crisis requires comprehensive support measures, including not only support through the opening of credit lines and the provision of credit guarantees, but also support measures through fiscal and social policy measures. In addition, intensive support will be needed in the medium and long term, especially to help businesses recover quickly from the crisis by supporting digitalisation, more flexible regulation and improved access to finance. The strengths and weaknesses of railway transport are highlighted, its capabilities and advantages are analyzed, especially in comparison with other types of transport, as well as the threats of internal and external influences. The contribution of JSC Ukrzaliznytsia in overcoming the impact of the COVID-19 pandemic in 2020 is analyzed. It is emphasized that the railway is a powerful taxpayer Measures to overcome the crisis in railway transport are proposed, including, in particular, the separation of freight and passenger traffic, refusal to transport privileged categories of citizens under the current scheme of financing these transport by local authorities, the introduction of public-private partnership on concession.

Perlindungan Hukum Harta Bawaan Debitur Pasca Perceraian

The problem of debt is included in the field of personal status, where marriages are carried out between spouses, which as a result of the law of debt become a burden to be borne together from marriage agreements between citizens, especially related to the distribution of joint assets. How is the legal liability of debtors to creditors in the final period of marriage? and How is the legal protection for the debtor's innate property? Regarding the marriage agreement, it is regulated in Article 29 of Law Number 1 of 1974 concerning Marriage. This is because of the agreement made between the husband and wife both regarding joint property after marriage and the child's guardianship rights as well as the citizenship status of the child and each party. The method used in this research is normative juridical and empirical juridical research which is analyzed using legal certainty theory and legal liability theory. From the results of the research. Events that often occur in the field of debt, debt repayments that must be paid by the debtor are often not as agreed. In the legal certainty of customer credit guarantees on objects of land and building mortgages, there is a decrease in the appraisal value by the bank, but the binding of credit guarantees with mortgages is carried out if a customer or debtor obtains credit facilities from the bank. Divorce is an abolition of marriage accompanied by a judge's decision. or at the will of one of the parties, both husband and wife, through the submission of a claim by one of the parties to the marriage. Keywords: Legal Liability, Debt, Creditors, Wife.

Credit guarantees in Ukraine’s agriculture: a development mechanism based on international practices

The paper deals with the conceptual approaches to the credit guarantee system as an effective mechanism of state support for agriculture. The importance of introducing a credit guarantee system in Ukraine and creating the Fund for Partial Credit Guarantee in Agriculture, a specialized non-banking financial institution, is emphasized. This will help to overcome obstacles to crediting small and medium agricultural enterprises. The authors have analyzed global credit guarantee schemes. The purpose of this paper is to develop proposals for amendments to the Draft Law «On the Fund for Partial Credit Guarantee in Agriculture», in particular a need to provide legal grounds for non-banking financial institutions, the form of business entities, their mission, criteria for agricultural subjects eligible for partial credit guarantees, financing of the relevant institutions and defining the related management bodies, as well as bodies of state regulation and supervision. The problem statement is attributable to the fact that the effectiveness of institutions providing credit guarantees for small and medium enterprises in agriculture plays an important role in the national economies of most countries. The authors have proposed an approximate financial model of the Fund for Partial Credit Guarantee in Agriculture and made the required economic calculations. Thus, with an initial authorized capital of EUR 10 million, the Fund for Partial Credit Guarantee in Agriculture, with 50% coverage, is able to provide guarantees for the purchase of 25 thousand hectares of arable land by small and medium enterprises at an average cost of EUR 820/ha, taking into account the average normative monetary assessment of agricultural land by regions. Consequently, credit enforcement will allow banking institutions not only to balance credit risk, but also to open access to small and medium agricultural enterprises to bank crediting to the extent necessary for the purchase of agricultural land and investments in production.