Explaining political choice: prospects for economic theory

The goal of the article is to demonstrate the potential of the economic theory in political choice as opposed to market choice. The article analyzes the input of economic theory to analyzing political choice. The following research objectives were set: (a) to highlight the development of the modern economic theory with regard to political choice with special semphasis on studies dealing with transition nations; (b) to demonstrate relevance or irrelevance of economic voting concept under conditions of modern Ukraine; (c) to find out how the information imperfectness and its comprehension by consumers in the political market affect the resulting choice. The scope of this study extends to an individual’s choice within the political market, and a subject is its distinctiveness under conditions of transition society. It is shown that political choice is characterized by inherent irrationality that gives space to different ways of external influencing voter preferences. The author proves that the economic vote is not present in the Ukrainian political context.

Social responsibility of Ukraine’s nuclear energy: analysis of problems and development prospects

The development of Ukraine’s nuclear energy remains one of the priority areas for ensuring the state’s socio-economic stability and national security. In addition, the industry’s social responsibility to key stakeholders and the world community, in general, plays an essential role in ensuring the development of nuclear energy. The biggest problems of NNEGC Energoatom’s social policy remain outdated staff motivation system, unresolved issue of radioactive waste disposal, inefficient distribution of subventions allocated to NPP satellite cities, an extension of overtime operation of power units, corruption offenses, nontransparent procurement. Reserves for the development of social responsibility at the enterprise are the development of a new wage system, regulation at the legislative level of the mechanism of distribution of subventions, strengthening responsibility for corruption crimes, automation of the procurement process in the SAR ERP system, reducing the number of intermediaries in procurement. It is also vital to increase the transparency of the enterprise and launch an educational campaign to restore public confidence in nuclear power plants. Strengthening social responsibility requires systematic work not only by the management of NNEGC Energoatom but also by lawmakers and anti-corruption bodies.

The impact of euro-integration processes on strengthening competitiveness of the banking sector

The study considers the essence and effects of economic integration on the Euro zone banking sector. The study explains that the intensification of economic integration of European countries provides a competitive environment for banks. The results found that the integration at the macro level increases the international competitiveness of the banking sector by creating a more transparent single secure market and increasing its capacity through the application of common rules and administrative standards for banking supervision and resolution, and on the meso- and micro levels increases the international competitiveness of banking institutions by increasing efficiency and profitability by increasing the volume of cross-border banking activities within the Euro zone. The conclusions suggest the main instruments of ECB’s monetary policy have a positive impact on improving the competitiveness of the banking sector by removing barriers to cross-border competition. Such instruments helped to create a large and transparent capital market, increase banking sector competitiveness by intensifying competition and efficiency of banks.

Interpretive reading of market report: a case from consulting practice

To gain insights that guide important business decisions and, consequently, turn data into business actions, various methods and types of data could be used depending on the data’s availability, accessibility, and costs. In consulting practice, the usage of widely published market reports and marketing studies is a standard routine. This paper is an example of how institutional theory could be applied in practice for analyzing and interpreting the findings from a typical market study. By contrast to other widely used qualitative and quantitative tools and techniques, applying institutional lenses is far to be mainstream for industry practitioners and strategy consultants. In the selected case from the wine sector, a market report has been hermeneutically “read” through lenses of institutional theory, which helped to identify coercive and mimetic types of isomorphism in the markets of Georgia and Ukraine.

The impact of innovation on the development of the global cosmetics products market

To gain insights that guide important business decisions and, consequently, turn data into business actions, various methods and types of data could be used depending on the data’s availability, accessibility, and costs. In consulting practice, the usage of widely published market reports and marketing studies is a standard routine. This paper is an example of how institutional theory could be applied in practice for analyzing and interpreting the findings from a typical market study.By contrast to other widely used qualitative and quantitative tools and techniques, applying institutional lenses is far to be mainstream for industry practitioners and strategy consultants. In the selected case from the wine sector, a market report has been hermeneutically “read” through lenses of institutional theory, which helped to identify coercive and mimetic types of isomorphism in the markets of Georgia and Ukraine.

Modeling optimal price policy of pharmaceutical companies for sales maximization based on Data Science technologies

Social capital has become an important aspect of most rural communities in developing nations. But, the dimensions of social capital vary across rural regions while little is known about the factors influencing it in rural areas. This study aimed to identify the prevalent social capital dimensions in rural areas and examine the factors determining rural people involved in those dimensions. A field survey which consists of structured and self-administered questionnaire was carried out with rural households. The information of the survey was obtained from 220 rural households in the study area between August and October, 2019. The descriptive analysis identified social networks (3.875), norms (societal values) (3.390), trust and solidarity (4.115), and cooperation and group action (4.139) as the prevailing social capital dimensions in the rural communities. The results further suggest that cooperation, trust and solidarity, and networks are respectively the dominating social capital dimensions in the rural areas. The results from probit model estimates show that the factors that are more likely to be associated with social capital in rural areas include education, access to credit and ownership of farm (cash crop). Since social capital is becoming a prerequisite for rural development, our findings lead to the suggestion that cooperation, build-up of networks should be facilitated for people in the rural areas. Furthermore, policy direction towards access to education, credit provision and development of primary occupation in the rural areas should also be enhanced. Economic policy makers and rural development agencies are invited to continuously work on the identified factors to promote the individual, community and national development on equitable basis.

Factors influencing social capital in rural communities in Nigeria

Social capital has become an important aspect of most rural communities in developing nations. But, the dimensions of social capital vary across rural regions while little is known about the factors influencing it in rural areas. This study aimed to identify the prevalent social capital dimensions in rural areas and examine the factors determining rural people involved in those dimensions. A field survey which consists of structured and self-administered questionnaire was carried out with rural households. The information of the survey was obtained from 220 rural households in the study area between August and October, 2019. The descriptive analysis identified social networks (3.875), norms (societal values) (3.390), trust and solidarity (4.115), and cooperation and group action (4.139) as the prevailing social capital dimensions in the rural communities. The results further suggest that cooperation, trust and solidarity, and networks are respectively the dominating social capital dimensions in the rural areas. The results from probit model estimates show that the factors that are more likely to be associated with social capital in rural areas include education, access to credit and ownership of farm (cash crop). Since social capital is becoming a prerequisite for rural development, our findings lead to the suggestion that cooperation, build-up of networks should be facilitated for people in the rural areas. Furthermore, policy direction towards access to education, credit provision and development of primary occupation in the rural areas should also be enhanced. Economic policy makers and rural development agencies are invited to continuously work on the identified factors to promote the individual, community and national development on equitable basis.

Assessment of the enterprise strategic sets using Fuzzy CODAS method

The article proposes a methodological approach to assess strategic sets of an enterprise. The approach is based on improving the classical quantitative strategic planning matrix (QSPM) using the theory of fuzzy sets and fuzzy multicriteria analysis tools, in particular, the Fuzzy CODAS method. The seven-level term-set is used to determine the weighting coefficients of the criteria, each term of which is transformed into a fuzzy number in a trapezoidal form with the corresponding membership functions. A similar approach was used for expert assessment of strategic sets according to a certain system of criteria. The methodological approach is implemented in the form of a framework in the Fuzzy Logic Toolbox software application of the Matlab computing system. This allows the simulation, depending on the adjustment of expert assessments of the importance of criteria assessment and evaluation policy sets based on these criteria. The methodological approach can be used in the strategic planning of enterprises’ activities as an effective tool for assessing and selecting effective strategic sets.

Serving the Economies of Countries with Electronic Payment Systems

The environmental and health care challenges pose new requirements for the level of technological equipment responsible for uninterrupted financial flows. The research is based on the following indicators: gross domestic product; e-commerce revenue; the share of banks’ participation in e-commerce; the level of cash usage in developed and developing countries; online and offline payments in European countries. The following statistical sources were used: the IMF, Statista, McKinsey, Adobe Analytics, Blue Yonder, Oliver Wyman, BIS, etc. We detected that the European countries became one of the first to experience significant economic damage from Covid 19. Also, authors defined the key areas to overcome the crisis effects. They are the developed financial infrastructure, the flexibility of employers, and the modern technological equipment of companies. Ensuring the development of the financial infrastructure is possible only under the following conditions: existing payment instruments and innovations in this segment; adequate level of cybersecurity and prevention of free theft of personal data; opportunities for access to e-commerce, which would allow consumers to uninterruptedly receive the necessary goods for life, develop logistics and create a giant company; cloud technologies have become an effective solution for workers and employers because, without them, a significant part of workers would be out of work, and this would further reduce purchasing power and deepen the crisis. Modern financial technologies are in a period of their increasing consumer demand and the need for new advanced solutions to existing payment instruments. The next few years will be decisive in shaping a new dimension in the electronic payments system.

Sovereignty policy under the COVID-19 pandemic conditions: unification VS differentiation

Globalization, which became widespread in the late twentieth – early twenty-first century, has led to large-scale changes associated with deepening the interdependence of national economies and their interpenetration, the formation of international industrial complexes beyond national borders, weakening the ability of nations to form independent economic policies. intensification of the movement of goods, capital, labor resources, the creation of institutions of interstate regulation of global problems, the attraction of the world economy to common standards, values, principles of operation based on the ideas of universalism. Universalism recognizes freedom and justice as more important values. Instead, sovereignty, which spread as a fundamental current at the beginning of the XXI century, is opposed to international law and emphasizes that the national interests of states are more important than the ideals of civilization (the interests of mankind). The article aims are to deepen the theoretical understanding of the processes of strengthening sovereignty in response to the global pandemic COVID-19 because the state’s membership in any supranational association directly affects its sovereignty in its classical sense. The basis of the research methodology is a scientific description and logical-deductive approach, illustrated by empirical cases from around the world. Data from statistical organizations, including the United Nations, the World Health Organization, the Organization for Economic Co-operation and Development, the Council of the European Union, and national health institutions from different countries of the world, were used to analyze the progress of the COVID-19 pandemic and the response of national economies to its effects, as well as analytical reports of the World Economic Forum and the countries of the world, including the countries of the European Union and Ukraine. The study found that there is a continuing confrontation in the world between the spread of sovereignty and the ideas of globalism in the current pandemic and only time will tell which of these theories will eventually gain dominance as a policy. However, according to the results of the study, the spread of the COVID-19 pandemic is largely due to the development of globalization, the openness of world economies, as well as the growing competitiveness of national economies.