Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
type: channel
description: Founded in: 1997 (1997-2018: Bulletin of the Cherkasy University. Economic Sciences) Subject areas: Business, Management and Accounting (BUSI), Economics, Econometrics and Finance (ECON) ISSN 2707-5044 Online; ISSN 2707-5036 Print ISSN 2518-1335 Online (1997-2018); ISSN 2076-5843 Print (1997-2018) Indexation in international databases: Index Сopernicus ICV 2022: 75,60; Ulrichsweb (Ulrich’s Periodicals Directory) Certificate of state registration: KV No. 16161-4633 PR dated 11.12.2009; KV No. 23902-13742R dated 11.05.2019 Extract from the Register of Subjects in the Field of Media Registrants: R30-01515 (decision №1224 dated 31.10.2023). Professional registration with the State Accreditation Commission of Ukraine: Order of the Ministry of Education and Science of Ukraine № 455 of 15.04.2014; Order of the Ministry of Education and Science of Ukraine №1301, 15.10.2019 (Annex 8) Specialty: 051 - economics; 056 - international economic relations; 071 - accounting and taxation; 072 - finance, banking and insurance; 073 - management; 075 - marketing; 076 - entrepreneurship, trade and exchange activities Frequency: four times a year Language of the edition: Ukrainian, English, Polish Founder: Bohdan Khmelnytsky National University of Cherkasy Editorial Board "Economics Sciences": Kyryliuk Ye., Doctor of Economic Sciences, Professor, Bohdan Khmelnytsky National University of Cherkasy (Editor-in-Chief); Zachosova N., Doctor of Economic Sciences, Associate Professor, Bohdan Khmelnytsky National University of Cherkasy; Proshchalykina A., Candidate of Economic Sciences, Associate Professor, Bohdan Khmelnytsky National University of Cherkasy (Executive Secretaries); Bilous S., Doctor of Economic Sciences, Associate Professor, Bohdan Khmelnytsky Cherkasy National University; Buryak R., Doctor of Economic Sciences, Associate Professor, National University of Life and Environmental Sciences of Ukraine; Černý P., PhD, Head of the Department of Tourism and Hotel Management, Prague Uni…
publisher: Черкаський національний університет імені Богдана Хмельницького
language: en-US
publication name: Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
issn: 2707-5036
copyright: The authors published in this journal agree with following conditions: 1. The authors reserve to themselves the right to the authorship of their works and transfer the right of their first publication to the journal on the terms of Creatіve Common Attrіbutіon Lіcense which allows to freely extend to other persons the published work with an obligatory reference to the authors of the original work and its first publication in this journal. 2. The authors have the right to complete independent additional agreements concerning the not exclusive distribution of their work in the form in which it was published in this journal (for example, to place the work in the electronic storehouse of an establishment or to publish as a monograph component), under the condition of the preservation of the reference to the first publication of the work in this journal. 3. The journal’s policy allows and encourage the authors to place their manuscripts into the Internet (for example, in depositories of establishments or on personal web-sites) either before submitting of the manuscript for publication or during its editorial processing as it assists the occurrence of a productive scientific discussion and positively affects the efficiency and dynamics of citing of the published work. AGREEMENT ABOUT TRANSMISSION OF COPYRIGHT I, the author of the article / We, the authors of the manuscript _______________________________________________________________________ in case of its acceptance for publication, we transfer the following rights to the founders and editorial boards of the scientific publication "BULLETIN OF THE CHERKASY BOHDAN KHMELNYTSKY NATIONAL UNIVERSITY. ECONOMIC SCIENCES. SERIES "ECONOMIC SCIENCES": 1. Publication of this article in Ukrainian (English, Russian, Polish) and distribution of its printed version. 2. Dissemination of the electronic version of the article through any electronic means (placing on the official journal web site, in electronic databases, repositories, et…
items: SPECIFIC FEATURES OF INTERNATIONAL BUSINESS CONTACTS IN WARTIME: THE CASE OF UKRAINE
items: CRISIS AND REFORMS IN GREAT BRITAIN FOR UNDERSTANDING THE FUTURE DEVELOPMENT OF UKRAINE
items: KEY PRINCIPLES OF RETURN AND REEMIGRATION OF FORCED MIGRANTS TO UKRAINE
items: TRANSFORMATION OF UKRAINE’S LAND POLICY WITHIN THE SUSTAINABLE DEVELOPMENT PARADIGM
items: INTERNATIONAL FINANCIAL REPORTING STANDARDS AS A BASIS FOR STRATEGIC ENTERPRISE MANAGEMENT
items: DIGITAL TRANSFORMATION AS A CONDITION FOR SUSTAINABLE DEVELOPMENT: ESG-ORIENTED APPROACH IN ENTERPRISES MANAGEMENT
items: SCIENTIFIC APPROACHES TO SPECIFYING THE CONTENTS OF MOTIVATION IN THE RESEARCHES OF PERSONNEL MANAGEMENT PROBLEMS
items: THEORETICAL FOUNDATIONS OF THE SYNERGY BETWEEN ECONOMIC SECURITY MANAGEMENT AND STRATEGIC ENTERPRISE MANAGEMENT
items: THE IMPERATIVE OF OPTIMIZING ENTERPRISE BUSINESS PROCESS MANAGEMENT FOR STRENGTHENING ITS COMPETITIVENESS AMIDST DYNAMIC CHANGES
items: FINANCIAL INDICATORS AS MEASURES OF ECONOMIC RESILIENCE: CLASSIFICATION, ADVANTAGES, AND LIMITATIONS OF EXISTING APPROACHES
items: TRANSFORMATION OF THE CONTENT OF SOCIAL COMMUNICATIONS AS AN INSTRUMENT FOR SHAPING CONSUMER BEHAVIOR
items: EMPLOYEE MOTIVATION AT UKRAINIAN ENTERPRISES IN THE CONTEXT OF INTERNATIONAL EXPERIENCE
items: METHODOLOGY FOR PREPARATION AND ANALYSIS OF AN ENTERPRISE'S FINANCIAL STATEMENTS
items: WORLD EXPERIENCE IN MANAGING THE EFFICIENCY OF INNOVATIVE ACTIVITIES OF MACHINE-BUILDING ENTERPRISES
items: THE CONTENT ESSENCE OF THE LABOUR MARKET: MULTIDIMENSIONALITY OF DEFINITIONS AND THE EVOLUTION OF ECONOMIC THOUGHT
items: GEOECONOMIC DETERMINANTS OF UKRAINIAN TOURISM INDUSTRY DEVELOPMENT UNDER SECURITY CHALLENGES
items: THE SYNERGY OF INTERNATIONAL COOPERATION AND INTERCULTURAL COMMUNICATION IN SHAPING THE GLOBAL TOURISM SPACE
items: ANALYSIS OF VOLATILITY AND AUTOCORRELATION PROPERTIES OF THE BTC-USD CRYPTOCURRENCY PAIR IN THE CONTEXT OF GLOBAL SOCIO-ECONOMIC SHOCKS
items: PROBLEMS OF NON-PROFIT ORGANIZATIONS DEVELOPMENT IN UKRAINE

SPECIFIC FEATURES OF INTERNATIONAL BUSINESS CONTACTS IN WARTIME: THE CASE OF UKRAINE
type: item
description: Introduction. The full-scale Russian invasion of Ukraine directly affected the functioning of international business. Today, all enterprises and companies operating in Ukraine-controlled territory face numerous challenges, including security risks, damaged infrastructure, disrupted supply chains, and extremely unpredictable conditions for doing business. However, despite the massive challenges of wartime, Ukraine's economy and its main actors continue to demonstrate impressive resilience to shocks. In this context, the study of the specific features of international business contacts in Ukraine during the war is of considerable interest, as the transformation of companies engaged in foreign economic activity and their adaptation to constant changes and challenges make a significant contribution to ensuring Ukraine's economic survival. Purpose – to analyse specific manifestations of the evolution of international business contacts in Ukraine, starting from the moment of the full-scale invasion in 2022. Methods. In the course of writing the article, the following research methods were used: content analysis, scientific generalisation, systematisation and comparison. Results. The Russian-Ukrainian war has led to significant transformations in Ukraine's foreign economic activity. These changes have also affected international business contacts involving national and foreign economic actors. The theoretical analysis conducted made it possible to identify characteristic features in the activities of companies during the organisation and conduct of business negotiations with foreign partners, the conclusion and execution of international commercial contracts, the protocol support of international cooperation, and the implementation of corporate social responsibility (CSR) in a vulnerable socio-humanitarian context. Originality lies in the authors' definition of international business contacts, which are understood as a comprehensive system of business relations between fir…
creator: Taras ROMASHCHENKO
creator: Kateryna ROMASHCHENKO
creator: Oleg TSOKALO
rights: Copyright (c) 2025 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

CRISIS AND REFORMS IN GREAT BRITAIN FOR UNDERSTANDING THE FUTURE DEVELOPMENT OF UKRAINE
type: item
description: Introduction. The state of public health in the United Kingdom is a matter of serious concern. The number of people living with chronic illnesses continues to grow, while the health gap between wealthier and poorer regions is widening. Life expectancy has stalled, and the disparity in healthy life expectancy between social groups is striking. Key risk factors—smoking, poor diet, and alcohol misuse—continue to drive a significant burden of preventable diseases, particularly among vulnerable populations. At the same time, the UK’s healthcare system (NHS) and social care services are struggling to meet growing demand. Waiting lists for planned treatment have reached record highs, and access to emergency and primary care has become increasingly difficult due to years of underfunding, resulting in shortages of beds, equipment, and especially healthcare staff. Workforce shortages, stress, and burnout are widespread. Purpose. To identify the key challenges facing the UK's healthcare and social care systems and to explore how this analysis can inform healthcare policy in Ukraine through a comparative lens. Results. Despite declining satisfaction with the NHS, public support for its core principles—free access, universal coverage, and tax-funded financing—remains high. However, ongoing reforms have proven ineffective, and social care remains largely neglected by policymakers. Social and economic factors such as austerity measures, the COVID-19 pandemic, and deteriorating conditions in housing, employment, and income have worsened the crisis. As a result, disability rates have increased and life expectancy has stagnated. Notably, the phenomenon of multimorbidity (the co-existence of multiple chronic diseases) is particularly prevalent among socioeconomically disadvantaged groups. Recent studies, including The Marmot Review 10 Years On, highlight that life expectancy had already stopped improving before the pandemic, and in some groups, it is decreasing. The gap in healthy lif…
creator: Mykhailo CHEVHUZ
rights: Copyright (c) 2025 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

KEY PRINCIPLES OF RETURN AND REEMIGRATION OF FORCED MIGRANTS TO UKRAINE
type: item
description: Introduction. The deep demographic crisis and mass forced migration caused by military aggression make it strategically important to develop effective mechanisms for the return and involvement of migrants in post-war socio-economic recovery. The issue of developing effective mechanisms for the reintegration of Ukrainians living abroad is of strategic importance. Contemporary scientific thought considers the process of migrant return not only in humanitarian or social terms, but also as a tool for restoring economic potential, stimulating innovation, and forming a new quality of human capital. In view of this, the urgent task is to develop the conceptual foundations of state policy aimed at creating a favorable environment for the return, adaptation, and involvement of forced migrants in the processes of Ukraine's post-war recovery. Purpose. Substantiation of the mechanisms and conditions for the return of forced migrants to Ukraine and the involvement of their potential in post-war socio-economic recovery. Methods. Theoretical analysis of the key foundations of re-emigration and reintegration of forced migrants. Results. The conditions that will facilitate the voluntary re-emigration of citizens who were forced to leave the country as a result of military operations are analyzed, the main challenges and problems on the way to the return of migrants are considered, it is found that in order to ensure the effective and timely return of migrants, this process should be initiated during the active phase of the war or immediately after its end. State institutions need to focus on the formation and implementation of comprehensive repatriation programs, the central element of which should be financial and economic mechanisms for stimulating the return and reintegration of citizens. Originality. The main mechanisms for the return of forced migrants to Ukraine are argued. Conclusion. The mass return of refugees is only possible if security and stable peace are restored and f…
creator: Kateryna ROMASHCHENKO
creator: Andriy VAKARCHUK
creator: Serhiy OLIYNIK
rights: Copyright (c) 2025 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

TRANSFORMATION OF UKRAINE’S LAND POLICY WITHIN THE SUSTAINABLE DEVELOPMENT PARADIGM
type: item
description: The article is devoted to substantiating the current state and development vectors of Ukraine’s land policy in the context of the sustainable development paradigm. The influence of global environmental challenges on the transformation of state land use policy is revealed; key risks, threats and factors complicating effective, environmentally safe and socially oriented land resource use are analyzed. Conceptual foundations of forming a prospective land policy are proposed, which can be fixed in a national strategic document with clearly outlined goals, tasks, institutional structure, and tools ensuring its implementation. A set of practical measures is provided for the implementation of this policy in the conditions of wartime and post-war period.
creator: Iryna YASINETSKA
creator: Tetiana KUSHNIRUK
creator: Volodymyr HRYB
rights: Copyright (c) 2025 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

INTERNATIONAL FINANCIAL REPORTING STANDARDS AS A BASIS FOR STRATEGIC ENTERPRISE MANAGEMENT
type: item
description: In the modern globalized economy, the transparency, comparability, and reliability of financial information have become critical factors influencing the competitiveness and sustainability of enterprises. International Financial Reporting Standards (IFRS) serve as a globally recognized framework for the preparation and presentation of financial statements, ensuring consistency across jurisdictions and facilitating informed decision-making by stakeholders. For enterprises operating in Ukraine, the adoption and implementation of IFRS are not merely a matter of regulatory compliance but also a strategic tool that strengthens corporate governance, enhances investment attractiveness, and supports effective resource allocation. By aligning financial reporting practices with international norms, Ukrainian companies can improve the quality of management decisions, as reliable financial data form the basis for strategic planning, performance evaluation, and risk management. Moreover, the integration of IFRS into corporate accounting systems fosters a unified financial language that bridges the gap between domestic enterprises and the global business environment. This harmonization enables management to respond promptly to market challenges, attract foreign capital, and pursue sustainable growth strategies. In this context, IFRS is not only an accounting standard but also a foundation for strategic enterprise management, shaping the long-term trajectory of organizational development. The analysis reveals that the integration of IFRS into the accounting and reporting systems of Ukrainian enterprises contributes to improved transparency, reliability, and comparability of financial statements. This, in turn, facilitates more informed strategic decisions, optimizes resource allocation, and strengthens the trust of investors and other stakeholders. Furthermore, IFRS implementation enhances enterprises’ adaptability to changing market conditions and fosters greater alignment with gl…
creator: Anzhela GRYLITSKA
creator: Anna BOROTA
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

DIGITAL TRANSFORMATION AS A CONDITION FOR SUSTAINABLE DEVELOPMENT: ESG-ORIENTED APPROACH IN ENTERPRISES MANAGEMENT
type: item
description: Reducing the negative impact on the environment from the activities of business structures, increasing the level of social indicators through equal access of the population to resources, services and opportunities that determine the quality of life of large social groups, as well as fair treatment of employees by the company's management are closely correlated with the goals of sustainable development, which Ukraine adheres to at the national level, integrating into the global space as a country that cares about the future of the planet. Therefore, the management staff of modern enterprises faces an urgent challenge - to transform approaches to business management using the advantages of digitalization to ensure success on the path to sustainable development in the current and long-term prospects. Purpose -establishing the role and opportunities of digital transformation of enterprise management on their path to pursuing sustainable development goals and characterizing an ESG-oriented approach in the management of modern enterprises. The characteristics of the ESG-oriented approach in enterprise management are summarized and the potential consequences of digitalization for the implementation of this process are determined. In the field of environmental goals, these are: greening of production; responsible use of resources; introduction of energy-saving technologies; cost and waste management; initiation and participation in environmental projects and initiatives; minimization of emissions. In the field of business socialization, these are a human-centered approach in management - in relation to employees, customers, partners, stakeholders; expansion of corporate social responsibility practices; adherence to the DEI principle in HR management. Regarding the management of organizations in general, the expected changes from the introduction of the ESG-oriented approach should be: openness and transparency of the management system; broadcasting the mission, vision, and …
creator: Oleksii PLESIUK
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

SCIENTIFIC APPROACHES TO SPECIFYING THE CONTENTS OF MOTIVATION IN THE RESEARCHES OF PERSONNEL MANAGEMENT PROBLEMS
type: item
description: Rethinking conceptual approaches to motivation and motivating, identifying the deep, substantive essence of this concept, specifying the main motivational factors that had a significant impact on employee behaviour in the past, will allow forming a qualitatively new focus of the motivational process in working with the personnel of Ukrainian enterprises in accordance with the current problems of the time, taking into account the realities of the functioning of business entities in Ukraine. The study is aimed at generalizing scientific approaches to specifying the content essence of the concept of motivation in the context of research into personnel management problems. The analysis of motivational theories and existing theoretical and methodological approaches to specifying the essence of motivation demonstrated the superiority of process behavioural theories that combine managerial, economic and psychological aspects of employee motivation. The disadvantages of popular concepts are the widespread use of the concept of motive or motivation factor, which differ significantly for people of different professions, without specifying; as well as ignoring the importance of using diversified approaches to motivating ordinary employees and management personnel. Only a few motivational concepts take into account the theory of generations, and none of the analysed one’s focuses on gender differences in the hierarchies of needs. Insufficient attention is paid to motivation in managerial talents and motivation of the role in forming the employer's brand. The issue of personnel motivation under the influence of the threat of wartime, which is relevant for Ukrainian enterprises, remains unresolved in the theoretical and methodological plane. Existing theories of motivation are analysed, their common and distinctive features are identified. The author's definition of the concept of motivation is proposed, the feasibility of using different approaches to motivating ordinary employe…
creator: Ruslan MUSIYENKO
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

THEORETICAL FOUNDATIONS OF THE SYNERGY BETWEEN ECONOMIC SECURITY MANAGEMENT AND STRATEGIC ENTERPRISE MANAGEMENT
type: item
description: Modern enterprise strategies should be formed with a focus on achieving a state of economic security, which becomes a condition and "starting point" for all further forecasts and plans for increasing economic potential, strengthening influence in market niches, and expanding the boundaries of the production, trade, financial, and other types of activities of a business entity. Purpose -generalization, critical reflection and addition of the theoretical basis of the synergy of approaches to economic security management and strategic management of enterprises. The areas and directions of synergy of approaches to economic security management and strategic management of enterprises are specified. To obtain a positive effect from coordinated security-oriented and strategic management, it is necessary to integrate security-oriented management into the components of strategic planning during the formation of the company's strategy; to develop and provide resources for the process of functioning of the enterprise's economic security management mechanism; to set up a system for ensuring economic security; if necessary, to include in the enterprise's development strategy as a strategic guideline the formation of an economic security system, to take into account security needs in existing and future strategies for the functioning and development of the enterprise; to initiate planning of strategic guidelines for activities with adjustments to the impact of risks and threats and to ensure the possibility of updating or transforming existing strategies taking into account sudden changes in the external or internal security situation. The synthesis and synergy of economic security management and strategic enterprise management are reflected in the fact that the formation of an economic security system involves a set of strategic and tactical actions to protect the company's resources necessary to achieve its strategic goals. In turn, the development and functioning of the enterpr…
creator: Romis CHAKALOV
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

THE IMPERATIVE OF OPTIMIZING ENTERPRISE BUSINESS PROCESS MANAGEMENT FOR STRENGTHENING ITS COMPETITIVENESS AMIDST DYNAMIC CHANGES
type: item
description: Introduction. In the modern economic space, characterized by volatility, uncertainty and the impact of digital transformations and war on economic processes, traditional approaches to enterprise management are ineffective in achieving the goal of their strategic survival. Comprehensive and rapid optimization of business processes is the main tool for economic stabilization of business, its acquisition of competitive advantages and sustainable development in the long term. The search for ways and opportunities for such optimization in the theoretical and methodological plane using management tools is of fundamental importance for the development of practical recommendations and approaches to the adaptation of Ukrainian enterprises to dynamic changes in the external and internal environment of their activities at the applied level. Purpose - justification of the need to find ways to optimize the management of the enterprise's business processes to strengthen its competitiveness in the face of dynamic changes in the economic environment. Results. It is specified that although there are many approaches to identifying the definition of a "business process", however, in general they can be grouped according to the understanding of this concept as a set of processes, a set of interconnected and repetitive actions, types of activities, an ordered set of works, functions, tasks. A mandatory requirement for starting the implementation of a business process is the use of corporate resources of the enterprise - time, human, financial, material, information, digital, intellectual, etc., or their combinations in various proportions. Also, a formative identification feature of a business process is obtaining at the end of its execution a certain result - planned, predicted, desired or unexpected, but one that differs from the input set of resources, gives them new characteristics, additional value or creates a new solution, product or service. Originality. The following possibilit…
creator: Viacheslav KHALAMAN
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

FINANCIAL INDICATORS AS MEASURES OF ECONOMIC RESILIENCE: CLASSIFICATION, ADVANTAGES, AND LIMITATIONS OF EXISTING APPROACHES
type: item
description: Introduction. The global economy is facing an era of unprecedented turbulence caused by pandemics, wars (notably Russia’s full-scale invasion of Ukraine), energy crises, and systemic shocks. These conditions expose the limitations of traditional financial indicators in assessing firms' ability to withstand and recover from crises. Financial resilience is becoming a key priority for stakeholders, yet existing financial metrics—developed for stable environments—fail to capture the speed, scale, and multidimensional nature of current economic risks. Purpose. The purpose of the study is to classify financial resilience indicators and critically analyze their advantages and limitations under crisis conditions. The authors aim to develop an improved toolkit for diagnosing and forecasting financial resilience, particularly under extreme uncertainty and shocks. Results. The article presents several key findings: Traditional financial indicators (e.g., liquidity and profitability ratios) lag in response and fail to capture crisis-specific risks such as disrupted supply chains or geopolitical instability. A crisis-adaptive toolkit is proposed, including real-time liquidity measures (e.g., Cash Runway ≥ 60 days), adjusted liquidity ratios accounting for credit lines, and the ESG Resilience Index. Additional tools include early warning systems for counterparty risk, zero-based budgeting, stress-testing models (VaR), and AI-based cash flow forecasting. These instruments enable a shift from retrospective analysis to proactive financial monitoring and crisis preparedness. Originality. The novelty of the research lies in the integration of financial and non-financial indicators within a multi-level framework (strategic, operational, analytical, and organizational). This includes the adaptation of ESG metrics, liquidity stress tests, and scenario planning methods for enterprise-level resilience assessments—tools traditionally reserved for macroprudential analysis. Conclusion. The st…
creator: Vitalii LOIAN
creator: Hanna DANYLCHUK
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

TRANSFORMATION OF THE CONTENT OF SOCIAL COMMUNICATIONS AS AN INSTRUMENT FOR SHAPING CONSUMER BEHAVIOR
type: item
description: The article examines the transformation of social communications in seller–consumer interaction within the context of digitalization. Based on a literature review, two approaches to the term’s interpretation are identified: as a scientific discipline and as a tool of socio-communicative engineering. It is demonstrated that in the digital environment, the communication process has evolved from the linear «sender – message – receiver» model to a multi-channel, interactive system with real-time feedback and personalization capabilities. A conceptual clarification of the term «social communications» in the context of consumer behavior formation is proposed. The application of the AIDA model illustrates the differences in the implementation of its stages in the pre-digital and digital eras. Prospects for further research are outlined, including the development of tools for assessing the effectiveness of socio-communicative engineering and exploring the ethical aspects of digital communications.
creator: Svitlana KOLODII
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

EMPLOYEE MOTIVATION AT UKRAINIAN ENTERPRISES IN THE CONTEXT OF INTERNATIONAL EXPERIENCE
type: item
description: Introduction. The onset of Russia’s full-scale war against Ukraine has triggered, among other challenges, the need to revise and develop new approaches to wage regulation and the preservation of labor relations. Economic activity under martial law is characterized by significant uncertainty and risk. Substantial losses in the labor force—both in quantitative and qualitative terms—hinder national recovery and development, increase the economic burden on employed individuals, and reduce contributions to state budgets and social funds while simultaneously increasing pressure on these systems. These circumstances underscore the relevance of studying international practices in labor motivation and stimulation. Purpose. The purpose of this article is to deepen the theoretical foundations of material labor motivation in Ukraine by analyzing international experience and assessing its applicability within the national context. Methods of research: the study employs general scientific and specialized methods, including theoretical generalization, grouping, and comparative analysis. Results. The article defines the concept of personnel stimulation in Ukraine under martial law, where stress and instability among employees are prevalent. It examines the experience of Sweden and Germany in implementing solidarity-based wage systems that promote productivity growth, the UK’s use of individual employment contracts, France’s salary individualization practices, and the Czech Republic’s approach to wage bonuses. Based on this comparative analysis, several strategies are proposed to help sustain employee motivation and productivity even under wartime conditions. Originality. The study refines the conceptual and terminological framework and presents a comprehensive analysis of employee motivation in Ukrainian enterprises, incorporating international practices. It offers recommendations for adapting leading European approaches to both material and non-material stimulation. Conclusion. Th…
creator: Roman ZHYRNYI
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

METHODOLOGY FOR PREPARATION AND ANALYSIS OF AN ENTERPRISE'S FINANCIAL STATEMENTS
type: item
description: Introduction. In modern conditions of market economy, with the active development of entrepreneurial activity and Ukraine's integration into the European economic space, the importance of financial reporting as a management tool is growing significantly. Requirements for the quality, transparency, and timeliness of financial information used by both external and internal users to make strategic and tactical decisions are increasing. The reform of the accounting system in Ukraine, in particular the introduction of International Financial Reporting Standards (IFRS), requires the improvement of reporting methods to ensure its reliability, comparability, and analytical usefulness. At the same time, the issue of high-quality financial analysis remains relevant, as it allows for the assessment of the effectiveness of an enterprise's activities and the identification of financial risks, internal reserves, and development prospects. Thus, research into methodological approaches to the preparation and analysis of financial statements is relevant from both a theoretical and practical point of view, as it directly affects the quality of management decisions, investment attractiveness, and financial stability of an enterprise. Purpose. Research methodological approaches to the compilation and analysis of a company's financial statements, taking into current requirements of accounting and the laws of Ukraine. Identify modern methods for compiling and analyzing companies' financial statements, and identify their practical significance for ensuring effective management. Results. The article examines the composition and content of the main forms of financial reporting; clarifies the structure and information content of financial reporting; analyzes the methodology for preparing reports; studies methods for analyzing financial reporting; characterizes the regulatory framework for reporting in Ukraine; summarizes methods of financial analysis and determines the significance of report…
creator: Viktoriia UMANSKA
creator: Anna BOROTA
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

WORLD EXPERIENCE IN MANAGING THE EFFICIENCY OF INNOVATIVE ACTIVITIES OF MACHINE-BUILDING ENTERPRISES
type: item
description: Introduction. The machine-building sector serves as a core component of the industrial framework in any developed country, as it determines the technological maturity of related industries and significantly influences the overall competitiveness of the national economy. Current challenges, such as globalization, rapid scientific and technological advancement, and the digitalization of production processes, are profoundly reshaping the operational environment of machine-building enterprises. In this context, there is an increasing need for the continuous improvement of innovation management practices. Enhancing the efficiency of innovation activities becomes especially critical in light of the transition to the Industry 4.0 paradigm. Purpose. The study consists of a comprehensive analysis of the world experience in managing the efficiency of innovative activity of machine-building enterprises and developing recommendations for its adaptation in the conditions of the Ukrainian economy to increase the competitiveness of domestic machine-building enterprises. Results. A comprehensive analysis of global best practices in enhancing the efficiency of innovation activities at machine-building enterprises was conducted. The study systematically examined innovation ecosystems in both developed countries (such as the USA, Germany, Japan, and South Korea) and emerging economies (China, India, Brazil). Distinctive features of national innovation models and institutional environments were identified, which determine the success of innovation policies at both the state and enterprise levels. A number of established models for assessing innovative potential were analyzed, including SPACE-analysis, the Balanced Scorecard (BSC) framework, and quantitative approaches based on index calculations and matrix evaluation techniques. These models served as the methodological foundation for evaluating the innovation capabilities of machine-building enterprises in a comparative and adaptable …
creator: Inna VISHTAK
creator: Leonid MAIDANEVYCH
creator: Viktoriia STRELCHENKO
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

THE CONTENT ESSENCE OF THE LABOUR MARKET: MULTIDIMENSIONALITY OF DEFINITIONS AND THE EVOLUTION OF ECONOMIC THOUGHT
type: item
description: The labour market is a complex multifunctional system governed by the general laws of a market economy, however, since the commodity here is a specific resource – human labour – which is difficult to measure and manage, and which, unlike other resources, has its own vision of its fate and possibilities for the application of consumer values, the functioning and evolution of this market have their own characteristics. Such features become a constant cause of transformations of market mechanisms and determine the type of behaviour of their participants. However, understanding the basic concepts and substantive essence of the labour market at the theoretical level can be a prerequisite for using its advantages and opportunities for promising economic reforms in a strategic perspective. Purpose - concretization and clarification of the substantive essence of the concept of the labour market in the context of the multidimensionality of existing definitions and taking into account the evolution of economic thought under the influence of continuous scientific progress. Fundamental and innovative theories of the existence and functioning of the labour market are analysed, such as classical theory, Keynesian theory, human capital theory, job search theory, neoclassical labour market theory, employment theory, institutional theory of the labour market, theory of effective wages, theory of behavioural economics in the labour market, theory of labour market segmentation, gender theory of the labour market, theory of the impact of technologies on the labour market. The areas of knowledge in which the scientific interests of modern scientists focusing on the problems of the labour market are located are tracked. The author's definition of the labour market, formalized using a systems approach, is proposed. The terminological field of the concept of the labour market is outlined, which includes such categories as employment, wages, unemployment, labour resources, human resources, …
creator: Oleksandr ZHUCHENKO
creator: Svitlana BOHUSLAVSKA
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

GEOECONOMIC DETERMINANTS OF UKRAINIAN TOURISM INDUSTRY DEVELOPMENT UNDER SECURITY CHALLENGES
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description: The article examines the influence of geoeconomic determinants on the development of Ukraine's tourism industry under security challenges caused by the Russian-Ukrainian war. The transformation of the spatial structure of tourist flows during 2022-2025 is analyzed, identifying features of tourism activity redistribution in favor of western and central regions of Ukraine. Changes in the typological structure of domestic tourism are investigated, particularly the growing share of rural green, cultural-cognitive, and festival tourism. The impact of security factors on tourists' motivation and behavioral models, length of stay in destinations, and seasonality of tourist flows is characterized. Prospects for tourism infrastructure restoration and Ukraine's integration into the European tourism space are considered. Strategic directions of state policy for supporting the tourism industry during wartime and post-war recovery are proposed, taking into account geoeconomic transformations and international experience. Problem statement. In recent years, Ukraine’s tourism industry has undergone significant transformations under the influence of geopolitical and geoeconomic factors. The full-scale invasion of the Russian Federation has fundamentally changed the conditions of the tourism sector’s functioning, aggravating existing problems and creating new security challenges. The geoeconomic dimension of these changes is of particular importance, as it determines not only the current state of the industry but also outlines the prospects for its recovery and further development in the context of the country’s overall post-war economic reconstruction. The transformation of international economic relations, changes in logistics routes, and the reorientation of trade flows and investment directions directly affect the functioning of the tourism industry. Geoeconomic determinants define the nature of interaction between the national tourism system and the global services market, shap…
creator: Stanislava Pasieka
creator: Mykola Pisetskyi
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

THE SYNERGY OF INTERNATIONAL COOPERATION AND INTERCULTURAL COMMUNICATION IN SHAPING THE GLOBAL TOURISM SPACE
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description: Introduction. In the field of international tourism, one can observe an imbalance between the active development of international forms of cooperation and their insufficient focus on deepening intercultural interaction. This can lead to an increase in the risk of negative stereotyping, intercultural conflicts between tourists and host communities, and thus - to a decrease in the quality of the tourist experience. Purpose. The purpose of this article is to provide a theoretical justification for the mechanisms of synergy between intercultural communication and international cooperation in the field of tourism, viewed as key factors in shaping an integrated global tourism space. The study seeks to identify the interconnections and mutual influences of these components in promoting sustainable, culturally sensitive, and innovation-oriented tourism development. Results. The study demonstrates that intercultural communication and international cooperation are interdependent and mutually reinforcing dimensions of global tourism development. Their interaction generates a synergistic effect that enhances the efficiency of cultural exchange, tourism innovation, and international partnership. The article presents examples of EU and Belt and Road initiatives that illustrate the practical realization of this synergy through joint cultural projects, transport connectivity, and sustainable tourism programs. The findings also highlight potential risks related to cultural conflicts, asymmetry of benefits, and the threat of losing local authenticity. Originality. The novelty of this research lies in the conceptualization of a synergy model for global tourism development, which integrates intercultural and cooperative mechanisms into a unified theoretical framework. This model provides a new perspective on how intercultural dialogue and international partnership can function as co-determinants of global tourism sustainability. Conclusion. The study concludes that coordinated interact…
creator: Inna Kochuma
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

ANALYSIS OF VOLATILITY AND AUTOCORRELATION PROPERTIES OF THE BTC-USD CRYPTOCURRENCY PAIR IN THE CONTEXT OF GLOBAL SOCIO-ECONOMIC SHOCKS
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description: Introduction. This article investigates the nonlinear dynamics and statistical properties of the BTC-USD cryptocurrency pair between September 1, 2015, and August 1, 2025. The study is timely due to the unique nature of cryptocurrencies as a new asset class and the highly turbulent global socioeconomic environment during the analyzed period. The theoretical foundation of the work is based on econophysics concepts and the theory of complex systems, specifically the analysis of stylized facts of financial markets. Traditional linear models, which assume a Gaussian distribution, have proven inadequate for describing and forecasting the behavior of cryptocurrencies, especially during periods of high uncertainty. Purpose. The main goal of this article is to identify and analyze nonlinear patterns in the BTC-USD dynamics from 2015 to 2025 and to interpret these patterns in the context of major global socioeconomic and geopolitical events. The research methodology includes calculating and analyzing autocorrelation functions for the price series, returns, and absolute returns, as well as using a moving window method to assess the dynamics of volatility and autocorrelation over time. Results. The scientific novelty of this work lies in its comprehensive analysis of the evolution of key nonlinear indicators—volatility and autocorrelation—for the BTC-USD pair over a long period that includes a sequence of diverse global crises (pandemic, geopolitical, monetary). Unlike most previous research that focused on the market's reaction to single events, this study examined the cumulative effect and interaction of these shocks as they are reflected in the dynamics of the market's statistical properties. The findings underscore the need for a shift from traditional retrospective analysis to a proactive forecasting system based on an understanding of the nonlinear nature of financial markets. Conclusion. The study confirms that the dynamics of the BTC-USD market are characterized by pro…
creator: Maxym KHOMENKO
creator: Hanna DANYLCHUK
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2

PROBLEMS OF NON-PROFIT ORGANIZATIONS DEVELOPMENT IN UKRAINE
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description: Introduction. Non-profit organizations (NPOs) are an important factor in the social and economic stability of Ukraine in times of war, contributing to the development of civil society and strengthening social cohesion, helping people feel part of the community. In times of war, the economic burden on the non-profit sector increases significantly, which makes the problem of its sustainable development more urgent. At the same time, the functioning of non-profit organizations in Ukraine is accompanied by a number of systemic economic problems, including insufficient and unstable financial resources, limited access to budget and investment financing, fragmentation of state support mechanisms, low quality of management and institutional capacity of individual organizations. Imperfection of regulatory and legal regulation and the lack of effective economic incentives hinder the development of the non-profit sector as a full-fledged subject of economic relations. The purpose of the article is to determine the economic prerequisites and limitations of the development of non-profit organizations in Ukraine. Results. The key problems of the development of non-profit organizations in Ukraine in the context of transformational socio-economic processes and military challenges were studied. The institutional, financial and organizational and managerial limitations of the functioning of the non-profit sector were analyzed, in particular, the instability of financing, imperfect regulatory and legal regulation, limited access to state support and the low level of managerial capacity of individual organizations. The main directions of development of non-profit organizations in Ukraine were determined, in particular, diversification of funding sources, strengthening financial transparency and accountability, implementation of digital management tools, development of partnerships with the state and business. Conclusion. In recent years, Ukrainian NPOs have become key players in provid…
creator: Artem SOLOMECHUK
creator: Alina PROSHCHALYKINA
rights: Copyright (c) 2026 Bulletin of the Cherkasy Bohdan Khmelnytsky National University. Economic Sciences
date: 2025-06-25
publication date: 2025-06-25
volume: 29
number: 2