European Journal of Management Issues

European Journal of Management Issues

Basic info

  • Publisher: Oles Honchar Dnipro National University
  • Country of publisher: ukraine
  • Date added to EuroPub: 2019/Sep/29

Subject and more

  • LCC Subject Category: Entrepreneurship, International Business , Economics, Management Science
  • Publisher's keywords: Management, Economics, Entrepreneurship, International Economic Relations, Travel Business, Education Service Management
  • Language of fulltext: english, russian, ukrainian

Publication charges

  • Article Processing Charges (APCs): Yes 50 EUR
  • Submission charges: No
  • Waiver policy for charges? No

Editorial information

Open access & licensing

  • Type of License: CC BY
  • License terms
  • Open Access Statement: Yes
  • Year open access content began: 2012
  • Does the author retain unrestricted copyright? True
  • Does the author retain publishing rights? True

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  • Permanent article identifier: DOI
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This journal has '128' articles

Do actively managed funds perform better than index funds? A test in the Canadian market

Do actively managed funds perform better than index funds? A test in the Canadian market

Authors: Christopher Alteen, Veit Wohlgemuth
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Abstract

Actuality of the study: Mutual funds are a favourite investment product among many investors. They provide a simple means of diversification, especially for those with smaller amounts of capital, and the popularity of mutual funds has increased with the success of the marketing efforts behind them. Purpose: This study evaluates the performance of actively managed and index mutual funds within the Canadian equities market. Findings: As index investing has increased in popularity, and other markets have become more connected and open, there is a need for research on equity mutual funds in countries outside the US. Originality / Value: The majority of previous research on index funds and actively managed mutual funds is focused on the US market and related indexes such as the S&P 500. Practical implications: This study suggests that, on average, active funds in Canada fail to beat their benchmarks net (but not gross) of the common fee or management expense ratio. Surprisingly, this research finds no positive relationship between higher fees and better gross performance. Actively managed funds also have poorer performance over the long term. This study finds that investors would be better off purchasing low cost index funds as they provide a more secure return. Future research: This study endorses research on other markets with inclusion of additional variables in order to explain gross performance and secure returns.

Keywords: Funds %index %funds %performance %equity %market index
Influence of the expenditures for the innovation activity on the foreign trade of Ukraine

Influence of the expenditures for the innovation activity on the foreign trade of Ukraine

Authors: Rostyslav Bodnar
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Abstract

An important task under current economic activity conditions is to find the interrelations between different economic indices and to study the character of these relationships. The purpose of this article is to establish a dependence of the export of goods and services from Ukraine on the expenditures for innovation activity. The study is based on data from the official internet resource of the State Statistics Services of Ukraine for 2000-2015. The method of correlation and regression analysis, graphical method, statistical and econometrical methods were used for the research. It was revealed that the export of goods and services is correlated with expenditures for the research and development and for the acquisition of other external knowledge. Multiple linear regressions were found for these relationships. The dynamics of the coefficients of values of the export of goods and services from Ukraine for UAH 1 spent on innovation activity in Ukraine over 2000-2015 was also investigated. Finally, the predictions for these coefficients were found for 2016-2017. The novelty of present research is in the quantitative research estimation of the dependence of the export of goods and services of innovation activity of Ukraine as well as the application of the iNZight software program for this analysis. The results received can be used in practice by managing export activity through factors that affect it. The dependence of other indices of the innovation activity of Ukraine on its foreign trade can be expanded in further studies.

Keywords: export of goods; export of services; innovation activity; correlation; linear regression; point forecast; error of prediction; autocorrelation
Обґрунтування рекомендованих значень показників динаміки виконання економічних функцій управлінською середовищною системою підприємства машинобудування

Обґрунтування рекомендованих значень показників динаміки виконання економічних функцій управлінською середовищною системою підприємства машинобудування

Authors: K. Boiarynova
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Abstract

Management environment system is a comprehensive and coordinated component in the provision of economic functionality of a machine-building enterprise, which predetermines the need to examine it. A difference in the level of innovativeness of innovation-oriented enterprises in machine engineering that operate within the framework of technological stages IV and V requires a substantiation of recommended values of indicators of the dynamics of executing economic functions by management environment system for each group separately. The goal of present work is to substantiate the recommended values of indicators of the dynamics of executing economic functions by management environment system as a result of comparing machine building enterprises at technological stages IV and V in terms of its component environments and phases of innovation-oriented development within an organization. We compared a range of recommended (indicative) values of indicators of the dynamics by the relevant indicators of effectiveness of executing economic functions by the component environments of management environment system at the machine building enterprises of technological stages IV and V in terms of performing dynamic economic functions: enhancing capability in comprehensive staff retention, increasing financial motivation and safety for employees, growth in profitability by increasing the potential of employees’ experience, development of innovative potential by developing the intellectual one; increasing the provision with reliable partners, increasing savings on costs, increasing the economic substantiation of interaction in ecosystem, development of consumer interest towards innovation; increasing the supply of active main assets for core activity, renewal of technical and technological states, actively increasing the share of intellectual property in assets, increasing active innovation. The novelty of present research is in the identification of differences in the range of values for indicators of the dynamics by economic indicators of effectiveness in the functioning of management environment system for the enterprises that operate within the framework of technological stages IV and V, and the substantiation of their drivers. A practical result of the study is a deepened analysis of economic indicators of effectiveness in the execution of economic functions by management environment system with the substantiation of their comparison by the machine building enterprises that operate within the framework of technological stages IV and V. A direction for further research is the substantiation of achieving indicators of the dynamics of execution of economic functions for financial-investment environment system at a machine building enterprise.

Keywords: management environment system; economic functions; indicators of dynamics; economic functionality; innovation-oriented machine building enterprise
Нематеріальний складник групової трудової мотивації

Нематеріальний складник групової трудової мотивації

Authors: O. Don, Irina Privarnikova
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Abstract

A limitation in financial resources of enterprises to increase financial incentives, in particular real wages of employees, led to paying more attention to the non-material part of motivation. Since the motives and incentives of group motivation have not been studied sufficiently, while the approaches used for individual motivation of employees, are not always applicable for the motivation of a group, the subject of present study is relevant. The goal of present work is to characterize non-material component of labor group motivation, motivational types of workers and to define possible intangible incentives specific to motivate a group to achieve its goal. Labor motivation should be considered as a system of components that represent a set of motives of internal and external origin, stimulating drivers that induce a labor collective to work actively towards achieving both personal and enterprise goals. Highly motivated employees are interested employees and, therefore, when reaching common goals of the enterprise, they satisfy their personal needs and consciously choose a certain type of conduct. We characterized the underlying motives (needs), which encourage employees to work. It is emphasized that the motives that define human behavior in the process of work are in plenty, but it is run by only a few of them, one of which necessarily prevails. A selection of team members with regard to differences in motives provides for the prerequisites for success. We assumed that under critical conditions, motivational needs of both individual employees and groups are mostly related to the expectation of financial remuneration for the work done. Under limited financial resources, it is expedient to use intangible incentives. When choosing them, manager should take into account the fact that in order to improve results of the work, employees must be in an environment that meets their basic emotional state. The integral components of such a "healthy" environment are proper subordination, corporate etiquette, microclimate in the team, presence of an experienced manager. Motivational impact on both the individual worker and the group as a whole is realized taking into consideration the differences in needs, character features, working behavior, status, qualifications, experience, and worldview. Present article characterized motivational types of workers by these criteria and assessed their ability to work in a group by a scale of "low capability – high capability". It was concluded that for the effective motivation of work of the group during team formation, preference should be given to people who can handle household work, who, along with those of the instrumental type, meet the requirements of effective work to a large degree. Recommendations are given on using motivational incentives in the context of the "application of incentives – forming the conditions". Scientific novelty of present research is the identification of motivational type of employee most inclined to work in group by comparing their needs and incentives. Results of the study might be used to create real conditions at an enterprise to build up group labor motivation and to engage each employee for increasing labor productivity. Promising directions for further research is the assessment of effectiveness of particular proposed motivational incentives to increase effectiveness of group work in different spheres of activity.

Keywords: non-material motivation of a group; cohesion; motivational type of workers; labor productivity; intangible incentives; production enterprise
The «4Cs» of cultural diversity in consumer research: a literature review and research agenda

The «4Cs» of cultural diversity in consumer research: a literature review and research agenda

Authors: Lachezar Ivanov
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Abstract

The article focuses on the role of cultural diversity in consumer research. The topic was approached in a non-empirical manner utilizing relevant literature published in the period 2011-2015 in A+ to C ranked journals. Four themes emerged and were integrated into the «4Cs» research taxonomy: Consumer differences, Consumption practices, Complexity in research, and Communication advice for practitioners. Two distinctive streams of research on the topic were identified. The first one concentrates on biculturals by birth or by migration. The second one investigates attitudes towards cultural diversity through identity formation. Important findings from the first stream are that cultural competence impacts the allocation of decision making roles, biculturals are more willing to consume diverse products, and biculturals react positively toward both individually or interpersonally focused advertising appeals. The second stream, related to attitudes towards cultural diversity, identifies that cultural identity impacts consumer behavior. Cultural identity can be approached as national vs. global identity, or as local vs. global identity, or from a position of the global citizenship.

Keywords: cultural diversity; cultural identity; multiculturalism; consumer behavior; consumer research; brand management
Management of innovation in the electricity sector: impact of framework policy

Management of innovation in the electricity sector: impact of framework policy

Authors: Esther Prudence Jouégo
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Abstract

The framework policy has a significant impact on the management of innovation in the electricity sector. To be effective, the framework policy should be adapted to the local, national, and international context. In order to find out how to adapt the policy framework efficiently, it is important to carefully examine the existing situation. When considering the development of renewable energy technology for electricity generation, policy framework plays a more important role. A short literature review analysis on the topic reveals that for developing countries having a low electricity access rate, the deployment of mini-grid presents a huge opportunity. In each local context it is important, however, to define which type of mini-grid should be adapted and how to increase the renewable energy share of mini-grid. It is also important to review the different existing policy mechanisms related to mini-grid and renewable energy development and consider how each mechanism can influence innovation in the electricity sector. The current research is dedicated to the framework policy analysis only.

Keywords: mini-grid; framework policy; electricity sector; systems theory; electricity sector management
Інституційне забезпечення фінансування сталого розвитку аграрної сфери України

Інституційне забезпечення фінансування сталого розвитку аграрної сфери України

Authors: L. Katan, N. Vasylieva, Igor Vinichenko
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Abstract

With the accelerated globalization processes, the strength of connection between agricultural production and rural territories is growing; the ratio is changing in the structure of institutions of influence towards financial provision of balanced economic, social and environmental development of this complex systemic formation. Despite the growing interest in research papers to the issues of financing agriculture, an analysis of institutional foundations for the provision of financing the sustainable development, which take into account the multifaceted nature of institutional mechanisms of its implementation in the agricultural sector, is limited. The aim of present work is to substantiate theoretical-methodological and applied principles of institutional provision of financing the sustainable development of agrarian sector in Ukraine. We defined key approaches to the formation of institutional provision of financing the sustainable development of agrarian sector. We believe that the institutional provision of financing the sustainable development of agrarian sector is a set of socio-economic, organizational and legislative measures of state authorities and entities (collectively, public and private institutions) in the field of financial relations that form necessary legal, organizational and economic conditions for effective engagement, accumulation and application of financial resources in order to achieve a planned dynamic social-ecological-economic effect. The components of institutional provision of financing the sustainable development of agrarian sector are presented. We analyzed the status of agricultural sector in Ukraine over 2000-2013 and evaluated the tightness of relationship between the volumes of investments and the level of development of national economy (GDP) and agricultural sector (agriculture DP). It was revealed that the growth of investment in fixed capital by UAH 1 million contributed to the GDP growth of national economy in Ukraine by UAH 60.9 million. At the same time, an increase in investments in the main capital of agriculture by UAH 1 million predetermined the increase in the gross production of agriculture by UAH 7.9 million. The sources of financing agricultural sector that are closely related to the development of agricultural sector (correlation coefficient is equal to 0.94) include foreign direct investments, but they do not exert significant impact on the growth of gross agricultural product (growth by USD 1 million stimulated increase by UAH 0.14 million). In the agricultural sector, investment activities of both domestic and foreign investors remain secondary; the amount of invested resources does not meet required volumes. We proposed to create an innovative-oriented cluster of agricultural sector, to improve credit mechanism and the mechanism of state regulation in the context of sustainable development. The value of present research consists in determining the tightness of connection between the amounts of investment provision and the level of development of national economy (GDP) and agricultural sector (agriculture DP). Practical use of recommendations, proposed in present work, on updating the draft Concept of the "State program for sustainable rural development in Ukraine through 2025" will make it possible to optimize financial mechanism of state support for sustainable development of agrarian sector in Ukraine. A promising direction of research is the study and assessment of the possibility to apply foreign experience in the optimization of components of institutional provision for financing the sustainable development of agrarian sector in Ukraine.

Keywords: institutional provision; sustainable development; agrarian sector; financing; innovation-oriented cluster
Обмеження перетину кордону в системі нетарифного регулювання міжнародної торгівлі і формуванні іміджу країни

Обмеження перетину кордону в системі нетарифного регулювання міжнародної торгівлі і формуванні іміджу країни

Authors: Nataliya Krasnikova, H. Filatov, Dmytro Krasnikov
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Abstract

In the case of introduction of visa-free regime between Ukraine and the European Union (EU) there will arise a problem of matching throughput capacity of the Ukrainian checkpoints to the quantity of people who would want to cross the border. The absence of need for obtaining a visa does not eliminate compulsory customs and border control, but it potentially increases the number of people who intend to cross the border. A growing number of border crossings in case of their mismatch with the criteria for checkpoints are a potential non-tariff restricting barrier in international trade. A threat to the image of the country from the occurrence of such a tool of non-tariff regulation indicates relevance of present study. The aim of the work was to study the dynamics of actual and potentially possible border crossings and to define directions for the optimization of procedures of such a crossing to eliminate negative impact of this non-tariff instrument of regulating international trade on the overall image of the country. We analyzed the peculiarities of crossing the border between Ukraine and the EU through automobile crossing points based on quantitative data regarding crossing the Ukrainian–Polish border. The goals and structure of movement across the border by frequency are clarified. We defined criteria for increase in the discrepancy between actual and nominal throughput capacities of the Ukrainian checkpoints. The scientific novelty of present research is establishing the nature of quantitative effect from restricting the crossing of border on the image of the country with the help of world rankings. A practical significance of the study is to identify ways to improve a procedure for crossing the border: 1) by combining Polish and Ukrainian infrastructure of control at checkpoints; 2) by creating separate lined for crossing the border by persons without transportation vehicles; 3) by simplifying a procedure of control at the border both by checking only by border staff and by increasing the value of goods that a citizen can bring into country; 4) by financing technical equipment for crossing points and their infrastructure by introducing a targeted general tax for persons who cross the border; 5) by compiling open and regular statistics of border crossing. A promising direction for further research is the economic substantiation of appropriateness of the proposed ways to improve the throughput capacities of checkpoints.

Keywords: non-tariff instruments; crossing points; image of the country; crossing the border; Ukraine
Фінансово-організаційні передумови застосування технології хеджування у вітчизняному ризик-менеджменті

Фінансово-організаційні передумови застосування технології хеджування у вітчизняному ризик-менеджменті

Authors: Anastasiia Kucherenko
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Abstract

One of the most important decisions that entrepreneurs and investors adopt in the process of their activities to obtain a positive micro- and macroeconomic result is the placement of monetary funds into ranked financial instruments. Such a decision requires understanding of investment features and risks for all classes of assets. A special attention should be paid to derivatives as their use, despite high effectiveness, is not commonly practiced in Ukraine. The aim of present work is a theoretical study of financial and organizational prerequisites for hedging, particularly, to identify obstacles to the introduction of this technique, including when working with derivatives, in risk management, formation of conceptual approaches to assess and overcome obstacles in the effective application of hedging strategy. Main problems in the application of hedging technique for the work with derivatives at domestic enterprises and financial markets of Ukraine are characterized. We substantiated a hedging technique as an alternative, by efficiency, method in risk management. The most common financial techniques are characterized, which include natural and synthetic types of hedging. A structure of the financial market is revealed, and financial negotiable instruments – objects of application of hedging technique – are classified. A system of participants in the Ukrainian stock market is presented. We described the essence of technique and certain methods of hedging. Micro-and macroeconomic obstacles are identified when applying hedging relative to derivatives: unsubstantiated number of exchanges, weakly-developed legal-normative base, insufficient warrants of property rights to foreign investors, lack of actual delivery of the base asset, low investment attractiveness of Ukraine, lack of a unified regulator for financial markets, absence of hedgers, small volumes of transactions for all futures, low level of financial literacy among the population. The scientific novelty of present research is in outlining the aspects of practical implementation of hedging technique into risk management in dealing with derivatives. Results of the study might be used by legal entities when managing risks in operational and financial activities. Further research into the scientific problem specified may be directed to regulate drivers of profitable business activity by innovative and progressive methods and techniques.

Keywords: risk diversification; financial market; financial technique; financial instruments; derivatives
Планування інвестицій в інноваційну продукцію на основі матриці інноваційного потенціалу регіону

Планування інвестицій в інноваційну продукцію на основі матриці інноваційного потенціалу регіону

Authors: O. Maruhlenko
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Abstract

Effective management of innovative process for the manufacturing of innovative products implies the substantiation of sources, determining the volumes and objects for financing the innovations. As one of the most important elements in managing the investment provision for innovative development is planning the cost and expenditures for innovative products, we consider the chosen direction of present research to be relevant. The aim of present work is a characteristic for the method of determining the volume of investment into innovative products by the type of products and enterprises based on the matrix of innovative potential of the region for formatting of optimal investment portfolio. Here we enumerate the basic types of foresight research into scientific and technological development, which were conducted in Ukraine. The conclusion is drawn that despite the multiple variants for such a development, its directions, along with other factors, are limited by the financial means for producing innovative products whose component is determining the required volumes and objects for investing. We characterized a method for selecting the types of innovative products as an object for investment. In order to choose investment objects, the list of critical technologies and innovative enterprises that have priority for the region is defined; investment risks at various stages of manufacturing innovative products are assessed; discounted income and price of risks are calculated; the problem on optimal allocation of investments by the types of products and enterprises is resolved with regard to the discounted income and price of risks. The novelty of present research is in the algorithmization of selecting the innovative technologies that have priority for investment, based on the matrix of innovative potential of the region. Results of the study might be applied to form an investment portfolio that would contain the most promising innovative technologies from the economic viewpoint. Promising topics for further research is conducting a comparative portfolio analysis of innovative enterprises for various fields of activity based on the proposed algorithm.

Keywords: financing of innovations; matrix of innovative potential of the region; innovative enterprises; investment risks; optimal allocation of investments
Системні взаємозв’язки бюджетної безпеки в умовах фінансової глобалізації

Системні взаємозв’язки бюджетної безпеки в умовах фінансової глобалізації

Authors: S. Onyshchenko
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Abstract

Globalization has a dual effect on the world financial system, contributing to its development and simultaneous occurrence of potential threats to financial security of states. Despite their rapid escalation to the real ones, most countries in the world do not perceive these threats as serious. Enhancement of the latter necessitates studying the problems of providing for the budget safety under conditions of world globalization, redefining directions when forming effective budgetary system in terms of secure development, strengthening the fiscal security of state. It is necessary to explore in detail the drivers that influence the level of budget safety and its interrelations with other components of economic security. The aim of present work is to examine relationships of budget safety taking into account effect of the process of financial globalization and to assess its level by the principles of retrospective analysis. We proposed our own interpretation of the concept of budget safety as the level of capability of a budgetary system to ensure solvency and financial stability of the state, effective use of budget funds taking into account strategic development priorities of budgetary relations and potential capability to resist and predict the threats of internal and external origin. Results of analysis of economic security indicate the highest rate of decline in financial security in 2015 by 14.1 percentage points to the level of 36.7 % among all the components of economic security. It was established that this situation is due to a decrease in revenues from basic budget-forming taxes with strengthening fiscal pressure on the economy, a sharp devaluation of the national currency, a significant growth of the state and the state-guaranteed debt with increased risk of default, illiquidity and insolvency of financial institutions, shrinking resource base of banks, problems with their capitalization. This determined critical and close to critical state of almost all the components of financial security. We analyzed current status of indicators in budget security. The correlation links are assessed between the integral level of budget safety and other components of economic security. The factors and interrelations of impact on the level of budget safety were defined. Direct dependence and the largest impact on the poor level of fiscal security were caused by absolutely dangerous levels of currency and debt security. We substantiated the need to improve a methodological approach to determining the level of safety with regard to the globalization processes and drivers of exogenous and endogenous origin, which reflect the share of the shadow economy, debt and fiscal burden on the budget, inflation processes and other indicators, key to providing revenues to the budget. The scientific novelty of present research is in the following: based on the results of analytical assessment of interrelations in budget security, we defined methods, means and tools for state regulation over risks and threats, we performed a strategic monitoring, prediction and implementation of measures of preventive nature to ensure economic security. A practical significance of the results obtained is the verification of provisions to improve scientific and methodological principles for the assessment of level of budget security of the state taking into account the budget safety interrelations with other components of economic security. Results have practical value to the bodies of state administration when compiling strategic and program documents to ensure the economic security of the state.

Keywords: budget security; financial security; indicators of budget security; financial globalization
Evaluation of the impact of promotional campaign through a social networks on the key performance indicators of website for online of group-buying in Brazil

Evaluation of the impact of promotional campaign through a social networks on the key performance indicators of website for online of group-buying in Brazil

Authors: Ildeberto Aparecido Rodello, Vinícius Dândolo, Márcia Mazzeo Grande
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Abstract

Relevance of the study: Based on data collection and analysis, present research made it possible to identify how the activities devised by a group-buying website on Facebook may exert influence on the KPIs for success. Purpose: The main task of present research is to answer the following question: can a digital social network be considered an effective tool for the improvement of key performance indicators (KPI) of a group-buying website? Findings: The research was conducted by considering data collected via mechanical observation using the computational tools Facebook Dashboard and Google Analytics. Data were analyzed using the means of comparison and a Pearson correlation coefficient, which demonstrated positive results of the campaign. When compared, the key performance indicators of the web site relating to Facebook displayed a larger dynamics than the general performance indicators of this web site. By the correlation coefficient, it was found that a higher power range of the Facebook Enterprise´s fan page could result in the increased traffic page hits of the examined web site, and an increase, mainly, in the number of new visitors. Originality / value: This paper analyzes some key performance indicators of a promotional campaign on Facebook for an online group-buying website in the city of Ribeirão Preto, São Paulo State, Brazil. Practical implications: Based on the collected data and performed analysis, it was found that the promotional activities on Facebook can increase the flow of new visitors and attract potential buyers to a group-buying website. Future research: It is recommended to perform further research for other social networks and in other countries.

Keywords: Group-buying site; social network; web analytics; key performance indicators
Регулювання міжнародного руху людських ресурсів України в умовах глобальної інтелектуалізації

Регулювання міжнародного руху людських ресурсів України в умовах глобальної інтелектуалізації

Authors: Alla Samoilenko
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Abstract

Under conditions of global intellectualization of technology, information–communication and transport infrastructures are closely connected to the utilization of intellectual and creative capabilities of human resources. It is an appropriate and relevant question to address the optimization in regulating the international movement of human resources and to define economic instruments to stimulate the development of intellectual resource of Ukraine. The goal of present work is a theoretical substantiation of recommendations concerning the regulation of international movement of human resources in Ukraine and economic instruments for the development of intellectual resource of the state under conditions of global intellectualization. In the research, we applied general scientific and special research methods: induction, deduction, method of imaginary experiment and substantiation, theoretical generalization. A conclusion was drawn on that the strategic direction of economic policy in the development of intellectual resource in Ukraine should be a state-led regulation of international movement of human resources in all their forms, namely, migration, tourism, transit-professional relocations and virtual international movement. Development of intellectual resources of Ukraine depends on economic instruments, among which we consider it appropriate to highlight: state monitoring over the processes in international movement, intellectual property protection, motivation of development of domestic human resources, the intensification of international cooperation, promotion of intellectual immigration and re-emigration. The scientific novelty of present research is the substantiation of recommendations related to the regulation of international movement of human resources and the determination of basic tools for development of intellectual resource in Ukraine. A practical value of the research consists in the fact that the results obtained might be used by state bodies to improve effectiveness of the legal base and protection of intellectual resources of Ukraine at the national and local levels. In future, further research can be directed towards the conceptualization of state economic policy in the regulation of international movement of human resources of Ukraine; to study experience of the world leading countries on retaining intellectual resource.

Keywords: economic tools of development; intellectual resource; migration; tourism; transit-professional relocations; virtual international movement
Теоретичні основи державної інноваційної політики і її складників

Теоретичні основи державної інноваційної політики і її складників

Authors: V. V. Svyatohor
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Abstract

Modern dynamics of socio-economic development emphasized issues to improve efficiency of state innovation policy, its adequacy to contemporary priorities and problems in the country’s development. An appropriate and relevant question is the systematization of knowledge obtained in the study of theoretical foundations of the state innovation policy, and effectiveness of its implementation depending on the methods of realization. The aim of present work is the development of theoretical and methodological fundamentals of state innovation policy. To solve the set tasks, we applied such general scientific and special research methods as: analysis, synthesis, generalization, systematic approach. Author examined the types of state innovation policy, factors that influence its formation, components of development and implementation of the state innovation policy. It is highlighted that the implementation of the state innovation policy is coordinated with the strategy of innovative development; strategic directions of innovation development of the national economy are demonstrated. Special attention was paid by Author to stages in the formation of state innovation policy in industrialized countries with the methods characterized for the realization of state innovation policy. Based on the obtained results of scientific research, main directions were proposed of innovation policy for Ukraine under present conditions. A conclusion was drawn on that the state innovation policy is a set of interrelated and interdependent forms, mechanisms, instruments, technologies of influence of the state on the formation, development and realization of scientific-technical, technological and innovation potential of the country, based on the promising world trends in scientific and technological development. The implementation of the state innovation policy is coordinated with the strategy of innovation development whose main function is to define main long-term directions of scientific development, to implement innovations, to provide resources to achieve the set objectives. The state, when implementing innovation policy, above all in the R&D sector, applies two basic types of methods: administrative and program-targeted. In the course of development of program-targeted methods, there were formed several variants of their implementation: a system of subsidies, institutional programs and cooperative implementation programs. The scientific novelty of present research is in determining the methodology of the state innovation policy, which covers an integrated system of methods, ways, and means of its implementation, taking into consideration the priorities in modern development of leading industrial countries. A practical value of the research is in applying the features of theoretical and methodological foundations of the state innovation policy for the selection of such areas and methods of implementation of the innovation policy that are most acceptable for Ukraine under current economic conditions.

Keywords: innovation; innovation policy; innovation strategy; methods of implementation of the state innovation policy
Моделювання впливу технологічних нововведень на зростання ефективності вироб

Моделювання впливу технологічних нововведень на зростання ефективності вироб

Authors: Е. I. Yudina
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Abstract

An essential tool for improving efficiency of industrial production is the activation of innovation activities, which is based on the application of achievements in scientific and technical progress (STP) and contributes to both the economic development of enterprises and economic complex of the country as a whole. This is what predetermines the need for development of scientifically substantiated approaches to the management of innovative activity aimed at improving the efficiency of resource use and results of activity of industrial enterprises, as well as identifying the areas of its organization. An increase in efficiency of enterprise activity is related to its capacity to adapt to the peculiarities of modern competition and fast changing market environment, to respond in a timely manner to these changes, to define strategic directions of activity, such as the application of new technologies and creation of effective mechanisms for the implementation of innovations. The aim of present work is modeling the impact of technological innovations on the improvement of production efficiency by way of mathematical description of the patterns of interaction between innovation and production activities of industrial enterprise and determining quantitative effect from the implementation of new technologies on the decrease in production resource intensity and improvement in the operational results of the industrial sector of economy. We examined influence of technological innovations on the indicators of resource consumption in the production, based on economic-mathematical modeling of the interaction between production and innovation processes. Models for correlation dependence were devised of the resource-intensive production on the introduction of new technologies at an industrial enterprise in Dnipropetrovsk Oblast (Ukraine), using which we established and mathematically described a regularity of the impact of technological innovations on the magnitude of economic indicators of production activity at an industrial enterprise. Created economic-mathematical models allowed us to calculate a quantitative ratio of consumption-intensity of production and investments for progressive technological renewal of production, while the established interval limits – to predict possible changes in the indicators of production as a result of implementation of new technologies and to plan the results of enterprise activity depending on its investment and innovation activity. In the course of analysis, we calculated parameters that characterize quality of the developed models and indicate their adequacy and capability of application in practice. The scientific novelty of present research is in establishing and mathematical explanation of regularities of interaction between examined indicators of innovation and production activities by means of the developed economic-mathematical models, as well as in calculating quantitative effect of new technologies on the increase in performance efficiency of industrial enterprises. A practical value of the study is that mathematical formulas, developed by economic-mathematical modeling, allow us you to calculate the magnitude of indicators of resource intensity and production efficiency, which correspond to a certain volume of investments in new technologies. Created models of correlation dependence make it possible to determine the change in the magnitude of indicators of industrial activity as a result of effect from changes in the volume of investments in technological innovation and, consequently, to predict and plan results and the degree of increasing production efficiency based on available investment resources. Their quantitative ratio allows to assess qualitative and quantitative effect of the implemented new technologies for the improvement in industrial enterprise efficiency. A promising direction for further research is the creation of mechanism for managing investment-innovative activity and production efficiency based on technical and technological renewal of enterprises material–technical base.

Keywords: economic-mathematical modeling of innovation; technology; performance efficiency

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