ANTI-CRISIS REGULATION OF BANKING BUSINESS: CASE OF AZERBAIJAN

The article examines the experience of the Republic of Azerbaijan (RA) in anti-crisis regulation of the banking sector. The author reveals the current state of the banking system of RA. Its development is monitored from three time perspectives – on the eve of the crisis (2005-2007), in the crisis (2008-2009) and post-crisis periods (2010-2020). The characteristics and features of each of them are revealed. The conceptual essence of the definition of “anti-crisis management” is revealed. The factors contributing to the study of anti-crisis management (regulation) of banking activity as an independent field of scientific research, as well as the distinctive features of its methods and tools are highlighted. The article analyzes the impact of anti-crisis regulation on the banking system of RA in the context of the global economic crisis, as well as anti-crisis measures taken by the country’s monetary authorities at various stages of the modern financial collapse. The authors concluded that these measures are inconsistent, and that it is necessary to further improve regulation and supervision in this area, aimed at achieving high financial stability of the banking system, primarily due to an adequate level of capitalization, optimal indicators of financial reserves and liquidity.

BUDGET POLICY TO STIMULATE SOCIO-ECONOMIC DEVELOPMENT OF REGIONS

The system of regional development and the conceptual apparatus of the term “region” are analyzed. Modern problems of local budgets are revealed. The focus is on the low level of financial capacity of local budgets, which affects the state of solving current socio-economic problems, as well as the independence of local governments. At the same time, there are examples of inefficient use of budget funds, which are allowed by budget managers at the local level, which negatively affects the achievement of priority goals of socio-economic development of territories. Attention is focused on the need to improve the quality of management of managers and recipients of budget funds, including the use of program-targeted budgeting method. Emphasis was placed on the need to expand the tax capacity of the regions in filling local budget revenues. Emphasis is placed on the expediency of better use of budget policy instruments in improving the effectiveness of budget expenditures, ensuring sustainable dynamics of socio-economic development of regions, which will improve the level and quality of life.

SOCIALLY ORIENTED BUSINESS AS A TOOL OF ANTI-CRISIS DEVELOPMENT OF TERRITORIES

The article deals with the origins and formation processes of social responsibility in business. The social concepts of businesses and households cooperation are analyzed. The author clarifies the nature and peculiarities of the application of the concepts of economic responsibility, basic business strategy, duties and stakeholders in foreign countries. The analysis of foreign experience of development of social enterprises is given. Perspective directions of development of socially oriented enterprises are considered. The specific features of these concepts application in foreign companies with regard to the conditions of development in Ukraine are studied. Implementation directions of certain provisions of the following concepts in the domestic realities are offered. Essence and directions of introduction of socially responsible business are analysed in the article, the analysis of advantages and defects is conducted from socially responsible behavior of companies as for them so for the state and society.

THE EFFECTIVENESS OF ENSURING THE FINANCIAL STABILITY OF THE RESTAURANT BUSINESS IN THE CRISIS COVID-19

The study identifies and systematizes key indicators and criteria for ensuring the financial stability of the restaurant business. The complex and thorough analysis of features of maintenance of financial stability of the enterprises of restaurant business on an example of one of restaurants of a chain of the Japanese kitchen of LLC «Sushiya» is carried out. After analyzing the key indicators of financial and economic activity of the restaurant, using the method of complex calculation of the rating of the financial condition of enterprises in the hospitality industry, the level of financial stability of the studied enterprise is determined. Based on the results of practice-oriented analysis, the ranking of financial management goals by the degree of impact on the financial stability of the enterprise. The mechanism of ensuring financial stability of restaurant business enterprises is modeled. The developed and substantiated mechanism is based on a unique methodology, which, unlike existing ones, is adapted to the field of hospitality, is carried out by specific tactical and strategic tools of financial management, based on the chosen type of enterprise policy; takes into account the dynamics of the main financial indicators of the enterprise, which is planned to implement the mechanism and the possible impact of factors of the external changing business environment. With the help of the matrix of financial strategies of J. Franchon and I. Romane, the position of the restaurant «Sushiya-Lavina» is determined and the methodological tools for improving the efficiency of its financial stability are substantiated.

ACCOUNTING AND CONTROL OF INVENTORIES AS A BASIS FOR EFFECTIVE MANAGEMENT OF A TRADING ENTERPRISE

Inventories are main resources of the trading company. Analysis, accounting and control of inventories determines the management effectiveness of commercial enterprises processes. It is necessary to accelerate the turnover of commodity resources in order to increase the profits of a trading company. Successful turnover of commodity resources can be determined with the help of high-quality operational management accounting information, which is the basis for analysis, decision-making and further control of the trading company. Obtaining management information achieved with establishment of an effective accounting policy, which is the direct responsibility of the company's management. The interdependence of the accounting policy type, quality management accounting, operational analysis and clear control over inventories at the trade enterprise determines the effectiveness of enterprise management and profit in the long-term perspective.

INNOVATIVE TECHNOLOGIES IN ANTI-CRISIS MANAGEMENT OF A MACHINE-BUILDING ENTERPRISE

The study considers the main tasks and functions of the crisis management system of the enterprise. The essence of modern enterprise management technologies and their relationship with management decisions are highlighted, the main directions of development of innovative technologies that can be used both in the system of general management of the enterprise and in the system of crisis management are highlighted. The role of technological renewal in the efficiency of machine - building enterprises is shown. The essence of the method of assessing the quality and efficiency of technological renewal of the machine-building enterprise is revealed. The indicators used in assessing the quality and efficiency of technological renewal of machine-building enterprises are systematized. Features of formation of policy of technological updating of the enterprises of machine-building branch are allocated. The importance of technological renewal of machine-building enterprises in the introduction of innovative technologies in the system of crisis management of the enterprise is shown.

EFFICIENCY OF ACTIVITIES OF TOURISM OPERATORS AND AGENTS ON THE MARKET OF TOURIST SERVICES OF UKRAINE

In the sections the research of efficiency of activity of tourist operators and agents in the market of tourist services of Ukraine proceeding from dependence of cost of permits on volume of their realization to the population and quantity of the served tourists is carried out. The necessity to use such methods as correlation-regression analysis and adjusted least squares to evaluate the efficiency of these legal entities in the market of tourist services is substantiated. The method of analysis of the operating environment was used in the study of the positions of the regions of Ukraine where legal entities operate in the market of tourist services, which allowed travel agents and tour operators) to attract tourists and sell tourist vouchers to the population. The direction of development of the modern market of tourist services and according to it the direction of effective development of the market of tourist services of Ukraine owing to activity of travel agents is revealed. The necessity of maximum coincidence of these directions is proved, while for travel agents in the regions of Ukraine there is no such coincidence. It is proposed to change the positions of the regions where these entities operate in the effective direction of the operating environment by reducing the cost of vouchers and increasing tourist activity, as the study identified a number of areas where tourists pay higher vouchers than the national average. As a result of the analysis of the environment of operation of tour operators in the regions of Ukraine, a special position in the Kharkiv region was revealed, as one that allows to assess the effectiveness of these entities in all other regions of the country. A much larger organization in the market of tourist services of tour operators is proved in comparison with travel agents, as the positions in the respective oblasts are currently in the direction of effective development with the exception of Ternopil, Khmelnytsky and Chernivtsi oblasts. Conclusions are made on the need to develop all business entities in the market of travel services, in particular to provide benefits from the activities of travel agents.

STABILIZATION OF THE NATIONAL CURRENCY RATE IN ENSURING ANTI-CRISIS DEVELOPMENT AND ECONOMIC SECURITY OF UKRAINE

The results of the study of the reasons for the decrease in the value of the national currency of Ukraine - the hryvnia are presented. A study of the theoretical foundations, political aspects and economic patterns of the devaluation of the hryvnia. The dynamics of consumer prices and the exchange rate of hryvnia to foreign currencies during 1992-2020 is studied. An analysis of the dynamics of the purchasing power of the hryvnia and the exchange rate is given. The inflationary nature of the positive dynamics of Ukraine's GDP is proved. Conclusions on the relationship between inflation and devaluation are presented. The necessity of ensuring the stability of the monetary unit in order to ensure anti-crisis development and increase the level of economic security of Ukraine is proved.

PRIORITIES AND DIRECTIONS OF INSTITUTIONAL SUPPORT OF EXPORT ACTIVITIES OF UKRAINE

Prospects for the implementation of the Export Strategy of Ukraine are analysed. Specific features of institutional support of export activities, which are carried out by state institutions and public and non-governmental organizations, are studied. The activity of the State Institution “Export Promotion Office of Ukraine” is examined. The Office is designed to strengthen the export potential of Ukrainian enterprises, promote Ukrainian goods and services abroad, establish cooperation and partnership between domestic and foreign businesses. The paper investigates the work of the institutions aimed at promoting the export activities of domestic enterprises, including the Exporters and Investors Council under the Ministry of Foreign Affairs of Ukraine, the Ukrainian Venture Capital and Private Equity Association, the Small and Medium-Sized Enterprises Development Office, the Investment Promotion Office, the State Finance Institution for Innovations, Ukrainian Startup Fund, etc. A set of measures to stimulate domestic exports has been developed. A characteristic of innovation activity in Ukraine is presented and its influence on the formation of export potential is revealed. The priority directions of export stimulation are outlined, which envisage the application of technological platforms by Ukrainian exporters, establishment of a system of institutional support as a complex of interaction for consulting, information, marketing and technical support of exports, use of economic incentives for innovative enterprises.

PANDEMIC ECONOMIC IMPACT AND INTERNATIONAL RISKS

Unpredicted COVID-19 pandemic in 2020 has generated the worldwide shocks for countries, changed everyday life for millions of people, stressed businesses and international relations. Pandemic shocks have had strong economic impact on contractions of industries and services, continuing international economic volatility and recession. Economic shocks and their influence on the European economies are complex, foresights of recovery looks uneven. Shocks implications are causing the lasting international economic risks. The major international economic risks currently are uncertainty, recession duration and cost risk, disproportionate recovery risk, regional economic differentiation, international supply chains risks, global debt risk. Recovery prospects are dependable on risks, medical crisis mitigation and targeted economic policies implementation.