Pub Date : 2021-06-01DOI: 10.32342/2074-5354-2021-1-54-7
M. Górka, B. Ślusarczyk, J. Baran, E. Brągiel, Barbara Habrat
Due to the growing interest of consumers in the consumption of fresh products with increased shelf life, producers must provide modern and safe packaging. This is a challenge for food packaging and acts as a driving force in the development of new and improved concepts of packaging technology. The article presents the essence, types and classification of packaging as a factor influencing the choice made by the consumer. In addition, the main attention was paid to the definition of knowledge and attitudes of consumers to this type of packaging used in the food market in the food industry. From the point of view of food consumers, the most important role of packaging is to ensure food safety throughout the logistics chain, from producer to consumer. Smart packaging is packaging that is equipped with features that allow it to track the goods through the logistics chain or control the internal and external environment of the packaging, as well as communicate with the consumer. Such packaging can not only control the quality and safety of the product, but also report its condition to a potential consumer or manufacturer. The advent of intelligent packaging systems has contributed to another important change in the existing perception of packaging, as it transforms the traditional communication function of packaging into an intelligent communication function. Another solution for innovative food packaging is active packaging. Active packaging is a system that, due to chemical, physical and biological actions, actively changes the conditions inside the packaging in order to extend the shelf life and preserve the original quality and sensory properties of food. In active packaging, the product, the environment and the packaging interact, thereby increasing product quality, shelf life and durability. Reasonable and active packaging, in addition to the function of protecting the product from the reaction of external factors and attracting the attention of the customer, is aimed at informing potential buyers about the condition and quality of goods and interaction with packaged foods
{"title":"CONSUMER EXPECTATIONS TOWARDS INNOVATIVE FOOD PACKAGING","authors":"M. Górka, B. Ślusarczyk, J. Baran, E. Brągiel, Barbara Habrat","doi":"10.32342/2074-5354-2021-1-54-7","DOIUrl":"https://doi.org/10.32342/2074-5354-2021-1-54-7","url":null,"abstract":"Due to the growing interest of consumers in the consumption of fresh products with increased shelf life, producers must provide modern and safe packaging. This is a challenge for food packaging and acts as a driving force in the development of new and improved concepts of packaging technology. The article presents the essence, types and classification of packaging as a factor influencing the choice made by the consumer. In addition, the main attention was paid to the definition of knowledge and attitudes of consumers to this type of packaging used in the food market in the food industry. From the point of view of food consumers, the most important role of packaging is to ensure food safety throughout the logistics chain, from producer to consumer. Smart packaging is packaging that is equipped with features that allow it to track the goods through the logistics chain or control the internal and external environment of the packaging, as well as communicate with the consumer. Such packaging can not only control the quality and safety of the product, but also report its condition to a potential consumer or manufacturer. The advent of intelligent packaging systems has contributed to another important change in the existing perception of packaging, as it transforms the traditional communication function of packaging into an intelligent communication function. Another solution for innovative food packaging is active packaging. Active packaging is a system that, due to chemical, physical and biological actions, actively changes the conditions inside the packaging in order to extend the shelf life and preserve the original quality and sensory properties of food. In active packaging, the product, the environment and the packaging interact, thereby increasing product quality, shelf life and durability. Reasonable and active packaging, in addition to the function of protecting the product from the reaction of external factors and attracting the attention of the customer, is aimed at informing potential buyers about the condition and quality of goods and interaction with packaged foods","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"47 1","pages":""},"PeriodicalIF":0.4,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88238634","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-01DOI: 10.32342/2074-5354-2021-1-54-10
Vadym Tatarinov, V. Tatarinov, Valentina Pavlova
The article considers the peculiarities of the construction and functioning of international strategic alliances and the reasons that hinder the participation of Ukrainian small and medium-sized businesses. Recommendations for the development of knowledge-intensive components of small and medium-sized businesses (venture, innovation and manufacturing businesses) and preparation for their participation in international strategic alliances are given: 1. In the conditions of globalization and strengthening of competition companies look for ways of saving of the economic efficiency, increase of competitiveness. One of such ways can be considered an international strategic alliance. ISA is an organizational agreement on long-term cooperation, which provides for the joint use of resources and management structures of two or more independent firms from different countries to implement tasks related to the mission of each of them; ISA is able to promote the innovative development of individual enterprises and the economy of a developing country as a whole; ISAs are an important link in the transfer of technology and other scientific and technical developments of national companies; SMEs with large companies may spread, on the one hand, due to the lack of financial and managerial opportunities for SMEs to develop business and compete with global players in the industry, and, on the other hand, large members of the alliance can count on the flexibility of SMEs and to obtain the results of their scientific and technical work, as well as the expansion of its scientific and technical base through mergers with SMEs or their acquisition; The highest achievement of ISA can be the creation of such innovations and modernization of production at a level that was not even laid down in the formation of the alliance. 2. In order to increase innovation activity, development and preparation of venture, innovation and production small and medium-sized businesses for participation in ISAs, the state must ensure after completion of quarantine: - increasing the investment attractiveness of Ukraine by maintaining political, economic stability and lasting peace in the country; - in the legislative order of creation and stimulation of the competitive environment in the field of venture, innovative and industrial small and average business in perspective branches of economy; – the possibility of using ways to diversify effective financial support for innovative enterprises based on the experience of developed countries; – stimulating bank capital to preferential financing of innovative SMEs in promising industries; – creation of a legislative basis for the development of the “angel network” in Ukraine; – obtaining a mandatory level of financial training through online education for start-ups in order to reduce the risk of using their financial support; – creation and development of regional infrastructure of resource, information, scientific and technical support for SMEs; – or
{"title":"SMALL AND MEDIUM BUSINESS AS A MEMBER OF INTERNATIONAL STRATEGIC ALLIANCES","authors":"Vadym Tatarinov, V. Tatarinov, Valentina Pavlova","doi":"10.32342/2074-5354-2021-1-54-10","DOIUrl":"https://doi.org/10.32342/2074-5354-2021-1-54-10","url":null,"abstract":"The article considers the peculiarities of the construction and functioning of international strategic alliances and the reasons that hinder the participation of Ukrainian small and medium-sized businesses. Recommendations for the development of knowledge-intensive components of small and medium-sized businesses (venture, innovation and manufacturing businesses) and preparation for their participation in international strategic alliances are given: 1. In the conditions of globalization and strengthening of competition companies look for ways of saving of the economic efficiency, increase of competitiveness. One of such ways can be considered an international strategic alliance. ISA is an organizational agreement on long-term cooperation, which provides for the joint use of resources and management structures of two or more independent firms from different countries to implement tasks related to the mission of each of them; ISA is able to promote the innovative development of individual enterprises and the economy of a developing country as a whole; ISAs are an important link in the transfer of technology and other scientific and technical developments of national companies; SMEs with large companies may spread, on the one hand, due to the lack of financial and managerial opportunities for SMEs to develop business and compete with global players in the industry, and, on the other hand, large members of the alliance can count on the flexibility of SMEs and to obtain the results of their scientific and technical work, as well as the expansion of its scientific and technical base through mergers with SMEs or their acquisition; The highest achievement of ISA can be the creation of such innovations and modernization of production at a level that was not even laid down in the formation of the alliance. 2. In order to increase innovation activity, development and preparation of venture, innovation and production small and medium-sized businesses for participation in ISAs, the state must ensure after completion of quarantine: - increasing the investment attractiveness of Ukraine by maintaining political, economic stability and lasting peace in the country; - in the legislative order of creation and stimulation of the competitive environment in the field of venture, innovative and industrial small and average business in perspective branches of economy; – the possibility of using ways to diversify effective financial support for innovative enterprises based on the experience of developed countries; – stimulating bank capital to preferential financing of innovative SMEs in promising industries; – creation of a legislative basis for the development of the “angel network” in Ukraine; – obtaining a mandatory level of financial training through online education for start-ups in order to reduce the risk of using their financial support; – creation and development of regional infrastructure of resource, information, scientific and technical support for SMEs; – or","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"20 1","pages":""},"PeriodicalIF":0.4,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84427914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-01DOI: 10.32342/2074-5354-2021-1-54-4
Z. Pestovska
The banking paradigm is being transformed because users have changed. They need a new model of service: timely, efficient, profitable and effortless. Banks should be prepared to disclose their data to partners (fintech companies, IT developers, retail chains) using standardized and open application programming interfaces (API). They must also be prepared to connect to new industry platforms, where they act as participants rather than owners of experience and customer relationships. Such a comprehensive transformation takes long time and is determined by the bank’s risk appetite and readiness to digital business. There are classification and main relationships between the terms that denote promising areas of modern banking (Lifestyle-banking, Behavioral banking, Bank-as-a-Service, Open banking, Omnichannel banking, White label banking, Neobanks). It is determined that the concepts of Lifestyle-banking and Behavioral banking are close, but the latter is aimed at the formation of rational financial behavior, which creates a conflict of interests, as financial culture begins to excite the classic bank only when large loan arrears. Omnichannel is an additional characteristic of Lifestyle and Behavioral banks, and all of them are impossible without Open banking. The substructure of Open Banking is the concepts of BaaS and White label banking. To speed up interaction between different stakeholders, Open Banking is based on an API that traditional banks have avoided for security reasons. PSD2 has been introduced as the legal basis for opening bank data of customers with their permission to authorized third-party suppliers. Trends in rethinking banking: digitization of all elements of the banking business; focus on customer needs; cooperation with fintech companies to stimulate innovations; creation of a standardized structure for exchange of banking data through API; abstraction from the peculiarities of each banking system; development of intuitive banking operations; transition to component architectures or modular structures to facilitate and accelerate the development of new services and channels; increasing the level of consumer protection. A comparative characterization of what the banking revolution can give to society as a whole and to each client individually, and the risks that we must be aware of, is given. It is determined what modern banks need to do to increase their competitiveness: review their strategic goals and place more emphasis on consumer experience; use the accumulated analytics for individualized customer service, which will increase profitability; develop a clear and flexible management structure that easily adapts to the changing business environment, provides coherence, adaptability, speed and reliability throughout the ecosystem to turn business components into interchangeable and reusable assembly units of processes or services; identify key indicators, regularly measure them and compile reports, structuring business relatio
{"title":"THE (R)EVOLUTION OF BANKING: DISCUSSIONS AND PROSPECTS","authors":"Z. Pestovska","doi":"10.32342/2074-5354-2021-1-54-4","DOIUrl":"https://doi.org/10.32342/2074-5354-2021-1-54-4","url":null,"abstract":"The banking paradigm is being transformed because users have changed. They need a new model of service: timely, efficient, profitable and effortless. Banks should be prepared to disclose their data to partners (fintech companies, IT developers, retail chains) using standardized and open application programming interfaces (API). They must also be prepared to connect to new industry platforms, where they act as participants rather than owners of experience and customer relationships. Such a comprehensive transformation takes long time and is determined by the bank’s risk appetite and readiness to digital business. There are classification and main relationships between the terms that denote promising areas of modern banking (Lifestyle-banking, Behavioral banking, Bank-as-a-Service, Open banking, Omnichannel banking, White label banking, Neobanks). It is determined that the concepts of Lifestyle-banking and Behavioral banking are close, but the latter is aimed at the formation of rational financial behavior, which creates a conflict of interests, as financial culture begins to excite the classic bank only when large loan arrears. Omnichannel is an additional characteristic of Lifestyle and Behavioral banks, and all of them are impossible without Open banking. The substructure of Open Banking is the concepts of BaaS and White label banking. To speed up interaction between different stakeholders, Open Banking is based on an API that traditional banks have avoided for security reasons. PSD2 has been introduced as the legal basis for opening bank data of customers with their permission to authorized third-party suppliers. Trends in rethinking banking: digitization of all elements of the banking business; focus on customer needs; cooperation with fintech companies to stimulate innovations; creation of a standardized structure for exchange of banking data through API; abstraction from the peculiarities of each banking system; development of intuitive banking operations; transition to component architectures or modular structures to facilitate and accelerate the development of new services and channels; increasing the level of consumer protection. A comparative characterization of what the banking revolution can give to society as a whole and to each client individually, and the risks that we must be aware of, is given. It is determined what modern banks need to do to increase their competitiveness: review their strategic goals and place more emphasis on consumer experience; use the accumulated analytics for individualized customer service, which will increase profitability; develop a clear and flexible management structure that easily adapts to the changing business environment, provides coherence, adaptability, speed and reliability throughout the ecosystem to turn business components into interchangeable and reusable assembly units of processes or services; identify key indicators, regularly measure them and compile reports, structuring business relatio","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"2 1","pages":""},"PeriodicalIF":0.4,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84050899","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-01DOI: 10.32342/2074-5354-2021-1-54-2
A. Vasylchenko, O. Dymchenko
Historiography the concept of clusters in the evolution of Economic Thought has been formed for many years. A significant contribution to the development of the concept of cluster was made by foreign and domestic scientists. The article considers scientific works of Ukrainian, Russian and Belarusian scientists, in particular: N.Y. Kalyuzhnova, I.V. Pilipenko, T.O. Kuznetsova, A.A. Tashkinov, M.V. Gryazev, S.A. Vasin, O.Y. Shakhov, Y.А. Sidelnikov, L.V. Dmitriev, G.A. Vinokurov, G.A. Yashev, V.K. Shcherbin, S.A. Vidimov, V.F. Bainev, N.I. Bogdan, S.G. Galuzova and others. For example, N. Kalyuzhnova and I. Pilipenko in their monographs reveal the aspect of cluster functioning, in particular, paying attention to the aspect of geographical agglomeration of firms operating in one or more similar sectors of the national economy. O. Voronov and O. Buryak consider the cluster as an ordered, relatively stable set of specialized enterprises that produce competitive products, taking into account the territorial localization of the economic sector. V.K. Shcherbin defines innovation clusters as complexes of enterprises (industrial companies, research centers, scientific institutions), public administration bodies, trade unions, public organizations based on the territorial concentration of networks of specialized suppliers, main producers and consumers connected by a technological chain. Based on the research conducted by the author, the author gave his own definition of the concept of «regional cluster», which is considered as a set of enterprises of related industries, the key role in the formation of which is played by the resource, historical and economic potential of a particular region. We also carried out a theoretical and methodological analysis of the formation of regional clusters in the context of sustainable development of territories, based on matrix analysis methods. The contribution of Ukrainian, Belarusian and Russian scientists to the theory of cluster economic development was systematized by author, and key features of research were highlighted. The main aspects of the formation of regional clusters are considered, which made it possible to identify the main features of their functioning. The author’s hypothesis was put forward regarding the influence of system, process and situational approaches on the activity of clusters. The analysis made it possible to systematize the impact of the above-mentioned approaches on the activity of clusters depending on the stage of the life cycle. The stages of cluster formation, structural and functional intracluster connections based on process, system and situational approaches are studied, and approaches to the formation of cluster classification features are analyzed.
{"title":"ANALYSIS OF ECONOMIC THOUGHT IN THE CONTEXT OF PREREQUISITES FOR THE DEVELOPMENT OF CLUSTER FORMATIONS IN THE WORKS OF DOMESTIC SCIENTISTS","authors":"A. Vasylchenko, O. Dymchenko","doi":"10.32342/2074-5354-2021-1-54-2","DOIUrl":"https://doi.org/10.32342/2074-5354-2021-1-54-2","url":null,"abstract":"Historiography the concept of clusters in the evolution of Economic Thought has been formed for many years. A significant contribution to the development of the concept of cluster was made by foreign and domestic scientists. The article considers scientific works of Ukrainian, Russian and Belarusian scientists, in particular: N.Y. Kalyuzhnova, I.V. Pilipenko, T.O. Kuznetsova, A.A. Tashkinov, M.V. Gryazev, S.A. Vasin, O.Y. Shakhov, Y.А. Sidelnikov, L.V. Dmitriev, G.A. Vinokurov, G.A. Yashev, V.K. Shcherbin, S.A. Vidimov, V.F. Bainev, N.I. Bogdan, S.G. Galuzova and others. For example, N. Kalyuzhnova and I. Pilipenko in their monographs reveal the aspect of cluster functioning, in particular, paying attention to the aspect of geographical agglomeration of firms operating in one or more similar sectors of the national economy. O. Voronov and O. Buryak consider the cluster as an ordered, relatively stable set of specialized enterprises that produce competitive products, taking into account the territorial localization of the economic sector. V.K. Shcherbin defines innovation clusters as complexes of enterprises (industrial companies, research centers, scientific institutions), public administration bodies, trade unions, public organizations based on the territorial concentration of networks of specialized suppliers, main producers and consumers connected by a technological chain. Based on the research conducted by the author, the author gave his own definition of the concept of «regional cluster», which is considered as a set of enterprises of related industries, the key role in the formation of which is played by the resource, historical and economic potential of a particular region. We also carried out a theoretical and methodological analysis of the formation of regional clusters in the context of sustainable development of territories, based on matrix analysis methods. The contribution of Ukrainian, Belarusian and Russian scientists to the theory of cluster economic development was systematized by author, and key features of research were highlighted. The main aspects of the formation of regional clusters are considered, which made it possible to identify the main features of their functioning. The author’s hypothesis was put forward regarding the influence of system, process and situational approaches on the activity of clusters. The analysis made it possible to systematize the impact of the above-mentioned approaches on the activity of clusters depending on the stage of the life cycle. The stages of cluster formation, structural and functional intracluster connections based on process, system and situational approaches are studied, and approaches to the formation of cluster classification features are analyzed.","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"34 1","pages":""},"PeriodicalIF":0.4,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84837828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-01DOI: 10.32342/2074-5354-2021-1-54-1
O. Serhieieva, V. Orlova, O. Kuzmenko
The essence of small and medium business in Ukraine is investigated. It is established that small and medium enterprises are a key element of a market economy, which affects the level of development of society and guarantees its stability. It is estimated that more than 6.9 million people, or about 82% of all employees, operate in the SME sector. SMEs account for more than 70% of employment in the trade, agriculture, forestry and fisheries, and information services sectors. Innovation has been shown to play an increasingly important role, and small and medium-sized businesses (SMEs) are seen in such an environment as an efficient market player capable of creating competitive ideas and commercializing innovation. It is determined that innovations are an integral component of modern corporate strategies and can be used to develop and implement more efficient production processes, as well as increase market performance or create a positive image and reputation of the company from the consumer’s point of view. It is proved that the level of innovation of enterprises depends on its size. The development and implementation of innovations should be guaranteed by qualified personnel in the field of innovative research. However, given the decline of the national economy, insufficient state support for the financing of scientific and technical programs, the innovative activity of large enterprises is extremely limited. 56.8% of innovative SMEs are involved in industry, others in services. It was found that 82.2% of enterprises do not want to innovate, and the objective reason for this is low demand in the innovation market, previously introduced innovations, extremely low competition in the market, lack of effective ideas or opportunities to innovate. It is proved that in order to improve the innovation activity of small and medium enterprises in Ukraine important steps are: implementation of specialized programs of innovative development, creation of innovation infrastructure, establishment of close cooperation between scientific institutions and enterprises based on commercialization principles, development and implementation of effective algorithm.
{"title":"REGARDING THE INNOVATIVE ACTIVITY OF THE DOMESTIC SMALL AND MEDIUM ENTERPRISE","authors":"O. Serhieieva, V. Orlova, O. Kuzmenko","doi":"10.32342/2074-5354-2021-1-54-1","DOIUrl":"https://doi.org/10.32342/2074-5354-2021-1-54-1","url":null,"abstract":"The essence of small and medium business in Ukraine is investigated. It is established that small and medium enterprises are a key element of a market economy, which affects the level of development of society and guarantees its stability. It is estimated that more than 6.9 million people, or about 82% of all employees, operate in the SME sector. SMEs account for more than 70% of employment in the trade, agriculture, forestry and fisheries, and information services sectors. Innovation has been shown to play an increasingly important role, and small and medium-sized businesses (SMEs) are seen in such an environment as an efficient market player capable of creating competitive ideas and commercializing innovation. It is determined that innovations are an integral component of modern corporate strategies and can be used to develop and implement more efficient production processes, as well as increase market performance or create a positive image and reputation of the company from the consumer’s point of view. It is proved that the level of innovation of enterprises depends on its size. The development and implementation of innovations should be guaranteed by qualified personnel in the field of innovative research. However, given the decline of the national economy, insufficient state support for the financing of scientific and technical programs, the innovative activity of large enterprises is extremely limited. 56.8% of innovative SMEs are involved in industry, others in services. It was found that 82.2% of enterprises do not want to innovate, and the objective reason for this is low demand in the innovation market, previously introduced innovations, extremely low competition in the market, lack of effective ideas or opportunities to innovate. It is proved that in order to improve the innovation activity of small and medium enterprises in Ukraine important steps are: implementation of specialized programs of innovative development, creation of innovation infrastructure, establishment of close cooperation between scientific institutions and enterprises based on commercialization principles, development and implementation of effective algorithm.","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"32 1","pages":""},"PeriodicalIF":0.4,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90824948","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-01DOI: 10.32342/2074-5354-2021-1-54-8
Volodymyr Tokar
The purpose of the article is to reveal the interplay between venture investing and innovation development of selected EU member-states based on global innovation index, the World Bank’s data on population, as well as OECD’s information on venture investing in 2013–2019. The paper sheds light on general tendencies of venture investing and innovation competitiveness in the EU. The average value of venture investing per capita among selected EU member states appreciated from $10 to 19.5 in 2013–2019, therefore, most investigated countries showed the increase in venture investing per capita with the average value change of $9.6, while Lithuania was the only exception experiencing the decrease equaling $2.5. The detected leaders in venture investing in 2019 were Denmark, Finland, Ireland, Sweden, Belgium, France and Netherlands with venture investing per capita values within $33.4–58.8 range, while outsiders were Bulgaria, Romania, and Lithuania with venture investing per capita below $2. Meanwhile, the average score of innovation indices among selected EU member states decreased from 49.7 to 49.3 in 2013–2019. There were thirteen countries with negative results, namely Ireland, Luxembourg, Austria, Belgium, Estonia, Spain, Italy, Portugal, Hungary, Latvia, Slovak Republic, Bulgaria, and Romania, while Sweden and Netherlands were leaders with the score exceeding 60 points in 2019. We have applied the Spearman’s rank correlation coefficient to determine the strength and direction of connection between venture investing per capita and national innovation competitiveness of abovementioned countries. We have calculated the critical point of the two-sided critical region with the significance level α equaling 0.05 and compared it with the table value to determine that the rank correlation coefficient of venture investing per capita and innovation indices of EU member-states is statistically significant and the rank correlation between the scores for two tests is significant.
{"title":"THE INTERPLAY BETWEEN VENTURE INVESTING AND INNOVATION COMPETITIVENESS OF EU MEMBER-STATES","authors":"Volodymyr Tokar","doi":"10.32342/2074-5354-2021-1-54-8","DOIUrl":"https://doi.org/10.32342/2074-5354-2021-1-54-8","url":null,"abstract":"The purpose of the article is to reveal the interplay between venture investing and innovation development of selected EU member-states based on global innovation index, the World Bank’s data on population, as well as OECD’s information on venture investing in 2013–2019. The paper sheds light on general tendencies of venture investing and innovation competitiveness in the EU. The average value of venture investing per capita among selected EU member states appreciated from $10 to 19.5 in 2013–2019, therefore, most investigated countries showed the increase in venture investing per capita with the average value change of $9.6, while Lithuania was the only exception experiencing the decrease equaling $2.5. The detected leaders in venture investing in 2019 were Denmark, Finland, Ireland, Sweden, Belgium, France and Netherlands with venture investing per capita values within $33.4–58.8 range, while outsiders were Bulgaria, Romania, and Lithuania with venture investing per capita below $2. Meanwhile, the average score of innovation indices among selected EU member states decreased from 49.7 to 49.3 in 2013–2019. There were thirteen countries with negative results, namely Ireland, Luxembourg, Austria, Belgium, Estonia, Spain, Italy, Portugal, Hungary, Latvia, Slovak Republic, Bulgaria, and Romania, while Sweden and Netherlands were leaders with the score exceeding 60 points in 2019. We have applied the Spearman’s rank correlation coefficient to determine the strength and direction of connection between venture investing per capita and national innovation competitiveness of abovementioned countries. We have calculated the critical point of the two-sided critical region with the significance level α equaling 0.05 and compared it with the table value to determine that the rank correlation coefficient of venture investing per capita and innovation indices of EU member-states is statistically significant and the rank correlation between the scores for two tests is significant.","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"26 1","pages":""},"PeriodicalIF":0.4,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81986563","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-01DOI: 10.32342/2074-5354-2021-1-54-3
V. Kovalenko
In the article, the author considers the main aspects of the impact of goodwill on the financial stability of banks. It is substantiated that among the numerous threats that lead to financially unstable development of the banking business, a special place should be given to the support of banks’ business reputation. The main reasons are the phenomena of financial instability caused not only by the cyclical development of the economy, but also the ability to take into account a certain state in which the financial system is able to: effectively allocate resources, assess and manage financial risks, absorb shocks. It is proved that the relationship between business reputation and financial stability is determined by the characteristics of the conceptual apparatus; the system of risks to which they are exposed in the course of their activities; methodical approaches to assessing their level. The author concludes that the key challenges for the banking business in the context of digital transformation should be considered from the standpoint of customer interests, from the standpoint of investors (owners) of the banking business and from the standpoint of the regulator. In today’s realities, when the systemic banking crisis has imposed on a large-scale economic, the decisive factor for success and continued activity in the market is the quality of business reputation. The methods of quantitative assessment of the bank’s business reputation include balance-normative, methods of additional and excess profits, methods of royalties and residual value, the method of rating and comprehensive assessment. It is proved that the level of business reputation is related to the life cycle of banks, which includes the stages of formation, growth, maturity and decline. Measures to ensure business reputation depending on the stage of development of the bank are considered. Both the business reputation and financial stability are affected by the established image of the bank. The article states that a positive image is able to maintain the bank in times of financial instability. It is determined that depending on the group of users (non-financial corporations, households, government agencies or social organizations) the image of the bank should be different and meet all requirements.It is determined that a modern bank is not only an institution of the financial market, but also a financial institution for which social role and reputation in social and economic relations become the primary criteria for ensuring their competitive position.
{"title":"BUSINESS REPUTATION AND ITS IMPACT ON FINANCIAL STABILITY OF BANKS","authors":"V. Kovalenko","doi":"10.32342/2074-5354-2021-1-54-3","DOIUrl":"https://doi.org/10.32342/2074-5354-2021-1-54-3","url":null,"abstract":"In the article, the author considers the main aspects of the impact of goodwill on the financial stability of banks. It is substantiated that among the numerous threats that lead to financially unstable development of the banking business, a special place should be given to the support of banks’ business reputation. The main reasons are the phenomena of financial instability caused not only by the cyclical development of the economy, but also the ability to take into account a certain state in which the financial system is able to: effectively allocate resources, assess and manage financial risks, absorb shocks. It is proved that the relationship between business reputation and financial stability is determined by the characteristics of the conceptual apparatus; the system of risks to which they are exposed in the course of their activities; methodical approaches to assessing their level. The author concludes that the key challenges for the banking business in the context of digital transformation should be considered from the standpoint of customer interests, from the standpoint of investors (owners) of the banking business and from the standpoint of the regulator. In today’s realities, when the systemic banking crisis has imposed on a large-scale economic, the decisive factor for success and continued activity in the market is the quality of business reputation. The methods of quantitative assessment of the bank’s business reputation include balance-normative, methods of additional and excess profits, methods of royalties and residual value, the method of rating and comprehensive assessment. It is proved that the level of business reputation is related to the life cycle of banks, which includes the stages of formation, growth, maturity and decline. Measures to ensure business reputation depending on the stage of development of the bank are considered. Both the business reputation and financial stability are affected by the established image of the bank. The article states that a positive image is able to maintain the bank in times of financial instability. It is determined that depending on the group of users (non-financial corporations, households, government agencies or social organizations) the image of the bank should be different and meet all requirements.It is determined that a modern bank is not only an institution of the financial market, but also a financial institution for which social role and reputation in social and economic relations become the primary criteria for ensuring their competitive position.","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"267 1","pages":""},"PeriodicalIF":0.4,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79810327","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-01DOI: 10.32342/2074-5354-2021-1-54-6
Zhanna V. Piskova
In the article the target segments for the provision of services for the development of memory, concentration and thinking of a person are analyzed. For the analysis and modeling of the target audience, such segmentation features are taken: age, occupation, education, attitude towards a product (service) (age psychology), and belonging to a generation (generation theory). It has been established that during the transition from the industrial era to the information era or the digital age, the digitalization of all social processes of human life support is extremely necessary. And this is the reality that already exists. Processing information 24/7 in such conditions has a significant impact on a human brain, which does not evolve as fast as the world. And for a person capable of intellectual work, thinking, expressing feelings, there is a need to protect their natural abilities. Investing in development of memory, concentration and thinking will lead to success tomorrow and in the future. It has been proven that in the era of digitalization, humanity should constantly carry out neurotraining of its own capabilities and abilities to develop memory, concentration, etc. To satisfy these services, a new profession of brain trainer has appeared on the labor market, which teaches the brain to work with information, develops memory, concentration and so on. Various target audiences have been analyzed from the point of view of developmental psychology and the theory of generations. We propose to divide the target audiences into primary (those who will receive services) and secondary (those who will pay for the services provided). The assumption that for Generation Z, as the primary target audience, it will be interesting to pass all kinds of exams that they will have to take during this period of their life, the opportunity to prepare for them in a short time is expressed. During analyzing generations X and Y, as a secondary target audience, it was found that this target audience may be interested in the issue of enhancing their own abilities, revealing the potential of the individual, “singling out” among others. To build a business model for the provision of services for the development of memory, concentration and thinking of a person, a target audience format was proposed, which was developed using the “5W method”. The works of Western and Ukrainian scientists, which contain a modern view on the problem of the intellectual potential of students and the psychology of perception and processing of information, the theory of generations and an attempt to interconnect the theory of generations with consulting the staff of the organization are used in the article. We see prospects for further research in the detailed development of programs for the provision of services for the development of memory, concentration and thinking of a person and, on this basis, building business models within the framework of the Ukrainian sociocultural space.
{"title":"SELECTION OF TARGET SEGMENTS FOR PROVISION OF SERVICES IN MEMORY DEVELOPMENT, CONCENTRATION OF ATTENTION AND THINKING OF A PERSON","authors":"Zhanna V. Piskova","doi":"10.32342/2074-5354-2021-1-54-6","DOIUrl":"https://doi.org/10.32342/2074-5354-2021-1-54-6","url":null,"abstract":"In the article the target segments for the provision of services for the development of memory, concentration and thinking of a person are analyzed. For the analysis and modeling of the target audience, such segmentation features are taken: age, occupation, education, attitude towards a product (service) (age psychology), and belonging to a generation (generation theory). It has been established that during the transition from the industrial era to the information era or the digital age, the digitalization of all social processes of human life support is extremely necessary. And this is the reality that already exists. Processing information 24/7 in such conditions has a significant impact on a human brain, which does not evolve as fast as the world. And for a person capable of intellectual work, thinking, expressing feelings, there is a need to protect their natural abilities. Investing in development of memory, concentration and thinking will lead to success tomorrow and in the future. It has been proven that in the era of digitalization, humanity should constantly carry out neurotraining of its own capabilities and abilities to develop memory, concentration, etc. To satisfy these services, a new profession of brain trainer has appeared on the labor market, which teaches the brain to work with information, develops memory, concentration and so on. Various target audiences have been analyzed from the point of view of developmental psychology and the theory of generations. We propose to divide the target audiences into primary (those who will receive services) and secondary (those who will pay for the services provided). The assumption that for Generation Z, as the primary target audience, it will be interesting to pass all kinds of exams that they will have to take during this period of their life, the opportunity to prepare for them in a short time is expressed. During analyzing generations X and Y, as a secondary target audience, it was found that this target audience may be interested in the issue of enhancing their own abilities, revealing the potential of the individual, “singling out” among others. To build a business model for the provision of services for the development of memory, concentration and thinking of a person, a target audience format was proposed, which was developed using the “5W method”. The works of Western and Ukrainian scientists, which contain a modern view on the problem of the intellectual potential of students and the psychology of perception and processing of information, the theory of generations and an attempt to interconnect the theory of generations with consulting the staff of the organization are used in the article. We see prospects for further research in the detailed development of programs for the provision of services for the development of memory, concentration and thinking of a person and, on this basis, building business models within the framework of the Ukrainian sociocultural space.","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"71 1","pages":""},"PeriodicalIF":0.4,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76687661","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In order to fight poverty more effectively, it is vital to determine the extent to which households are chronic or transient poor. In this context, this paper has two aims. The first is to estimate poverty transition between 2006 and 2016 in Turkey using a newly developed synthetic panel method. With this method, the transition of poverty between two-time points can be estimated without the need for real panel data. The second aim of the study is to test how well this method works. To this end, the analysis has been performed once again by using real panel data for the years 2006-2009 and 20132016. The findings show that the percentage of households those who chronically poor is between 3.9% and 10.7%, the percentage of those who escaped from poverty is between 12.1% and 20.8% and the percentage of those who fall into poverty is between 5.4% and 12.2%. The analysis with actual panel data has revealed that the method works quite well.
{"title":"Estimating Poverty Transitions in Turkey Using Repeated Cross-Sectional Data","authors":"Ömer Li̇manli","doi":"10.21121/EAB.907349","DOIUrl":"https://doi.org/10.21121/EAB.907349","url":null,"abstract":"In order to fight poverty more effectively, it is vital to determine the extent to which households are chronic or transient poor. In this context, this paper has two aims. The first is to estimate poverty transition between 2006 and 2016 in Turkey using a newly developed synthetic panel method. With this method, the transition of poverty between two-time points can be estimated without the need for real panel data. The second aim of the study is to test how well this method works. To this end, the analysis has been performed once again by using real panel data for the years 2006-2009 and 20132016. The findings show that the percentage of households those who chronically poor is between 3.9% and 10.7%, the percentage of those who escaped from poverty is between 12.1% and 20.8% and the percentage of those who fall into poverty is between 5.4% and 12.2%. The analysis with actual panel data has revealed that the method works quite well.","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"1 1","pages":"81-91"},"PeriodicalIF":0.4,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45145460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study explores the relationship between stock market inclusion and economic activity (liveliness) in Turkey by taking advantage of the recent contributions in causality theory. Stock market inclusion is represented by the seasonally adjusted real stock market trade volume per capita (TV) and economic activity by the seasonally adjusted real gross domestic product per capita (GDP). We use quarterly series covering the period 2003:1-2020:2 and employ asymmetric bootstrap and asymmetric Fourier bootstrap causality testing procedures to obtain robust parameter estimates. Both procedures adopt a nonlinear methodology but the latter is distinguished from the first in the sense that it follows a Fourier series approximation which allows for structural breaks of unknown number, form, and point. Empirical findings suggest that the Fourier-type asymmetric bootstrap causality procedure, thanks to its trigonometric components, captures two unidirectional (one-way) causalities; one running from the positive components of TV to those of GDP and the other running from the negative components of TV to those of GDP, but not vice versa. These findings verified a strong influence on GDP of the alterations i.e. positive and negative shocks in stock market conditions.
{"title":"Stock Market Inclusion and İts Connection with Economic Activity in Turkey","authors":"Sadık Karaoğlan, Mustafa Erhan Bilman","doi":"10.21121/EAB.907428","DOIUrl":"https://doi.org/10.21121/EAB.907428","url":null,"abstract":"This study explores the relationship between stock market inclusion and economic activity (liveliness) in Turkey by taking advantage of the recent contributions in causality theory. Stock market inclusion is represented by the seasonally adjusted real stock market trade volume per capita (TV) and economic activity by the seasonally adjusted real gross domestic product per capita (GDP). We use quarterly series covering the period 2003:1-2020:2 and employ asymmetric bootstrap and asymmetric Fourier bootstrap causality testing procedures to obtain robust parameter estimates. Both procedures adopt a nonlinear methodology but the latter is distinguished from the first in the sense that it follows a Fourier series approximation which allows for structural breaks of unknown number, form, and point. Empirical findings suggest that the Fourier-type asymmetric bootstrap causality procedure, thanks to its trigonometric components, captures two unidirectional (one-way) causalities; one running from the positive components of TV to those of GDP and the other running from the negative components of TV to those of GDP, but not vice versa. These findings verified a strong influence on GDP of the alterations i.e. positive and negative shocks in stock market conditions.","PeriodicalId":43307,"journal":{"name":"EGE ACADEMIC REVIEW","volume":"21 1","pages":"139-148"},"PeriodicalIF":0.4,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41329998","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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