The financial equilibrium (“financial health”) of the enterprises is a prerequisite for their sustainable development, which ensures macroeconomic stability of the economy and the welfare of the state. It should be supported by the banking system, which performs the function of the effective reallocation of capital. Recently, the Ukrainian banking system itself is in a challenging situation and is undergoing a period of transformation. The purpose of the study is to assess how sufficiently the banking system of Ukraine supports the financial equilibrium of enterprises and to find the possibilities to strengthen its role in the progress of the real sector of economy. The authors single out three stages of financial equilibrium growth; each of them can be supported by the relevant banking services. The empirical analysis proves that the Ukrainian banks successfully ensure only the first stage, namely, liquidity balancing. To quantitatively assess the role of the banking system in supporting the enterprises’ financial equilibrium, a multivariate regression applying mathematical gnostic analysis in the program shell R Console is used. The research makes it possible to find out that only the economy monetization, the share of time deposits of economic entities and growth rate of mortgage loans have a positive effect. The authors conclude that the problems of both enterprises and the banking system are in the sphere of development and implementation of government economic policy and are aggravated by the restrictive monetary policy.
Modern insurance business, including in developing countries, is associated with the introduction of innovations. The purpose of this paper is to clarify the features of the insurance market’s innovation in Ukraine by reviewing the literature and analytical data on the market as a whole and its individual participants. The results show that innovations implemented in the insurance market can be classified according to certain characteristics, which provides opportunities for its empirical study. The analysis reveals that the peculiarities of the innovative development of the Ukrainian insurance market are determined by many factors, among which digitalization and increased risks due to the COVID-19 pandemic are the main ones today. Based on the analysis of leading insurance companies’ practice, it is concluded that they implement only a limited amount of innovations, mainly of incremental and combinatorial types, and do not actively use modern communication channels with consumers. The results highlight the need for insurance and FinTech companies to cooperate in the innovation ecosystem, which is still being formed in the Ukrainian insurance market. The study also considers the possibility of using a system of indicators to assess the innovativeness of insurance companies.
Capital stability of the banking system is the basis of its effective development and realization of its main function – optimal redistribution of capital. So, the aim of the article is to develop indicators of capital stability of the banking system, and to propose the frameworks for the long term capital stability strategy of the banking system in Ukraine. For this purpose, the analysis of micro- and macroeconomic indicators of the capital stability of domestic banks within the period 2007–2016 is made. To carry out the research, there were used the statistic data of the National Bank of Ukraine, its legislative and regulatory documents, the Basel Accords. Capital stability of the banking system has been defined in the article as the process of ensuring capitalization that is adequate to the banking risks and cyclical economic development. It has been detected that a significant reduction in return on equity of the Ukrainian banks in 2014–2015 even with restoring their liquidity has had a crucial destabilizing impact on their capital stability. In order to improve the assessment of capital stability, its key indicators for the groups of domestic banks have been studied. The necessity of refocusing macroprudential requirements of the National Bank of Ukraine from quantitative indicators to qualitative ones to ensure economic development has been proved. It has been concluded that a necessary condition for restoring the Ukrainian banking system was to develop an effective strategy for ensuring its capital stability, which should be focused on the creation of its diversified structure.
Анотація. У статті доводиться можливість й необхідність використання збалансованої системи показників для контролю та оцінки реалізації банками інноваційних стратегій. Розроблено стратегічну карту інновацій для банку. Запропоновані ключові показники ефективності для всіх проекцій збалансованої системи показників іннова цій. Обґрунтовані напрями інтеграції збалансованої системи показників інновацій із системою управління банком. Ключові слова: банк, інноваційна стратегія, реалізація інноваційної стратегії, збалансована система показників, збалансована система показників інновацій, стратегічна карта інновацій, ключові показники ефективності.
An archetype analysis of the problems of public-private partnership (PPP) functioning and its role in ensuring sustainable development has been carried out. The necessity of taking into account transformational changes which resulted not only in changing the political system and forms of ownership and the transition to democracy and market economy, but also combined with the change in the mentality of the population, was emphasized. There is a need to rethink the role of the state in public relations. The partnership is considered, on the one hand, as a goal and a task of sustainable development, which demonstrates a change in the paradigm of solving problems from individualized to unified, network, and on the other hand, as a factor of its providing. The significant role of PPP in ensuring sustainable development has been proved. The dependence of the level of development of PPP on the development of state and civil society, the level of awareness of public and private partners of their social responsibility is indicated. It is noted that the concept of "public-private partnership" is broader and more consistent with the tasks of stimulating sustainable development than "state-private partnership". It is concluded that national mentality, social and cultural norms in the country can significantly influence the perception of the idea of the PPP, and therefore these projects should be adapted to the local context. The barriers for implementation of PPP are analyzed, among which the following are highlighted: imperfection of administrative processes, insufficient legal and regulatory framework with frequent changes in the legislation and regulations, concentration of attention on procedural issues with underestimation of the innovative and investment potential of the PPP, and in particular, its role in the formation of new public relations and civil society. An archetypal analysis has allowed substantiating the need for increased participation of the third sector in the processes, ensuring their openness and transparency. It is about overcoming "collectively unconscious" in favor of conscious collective action in support of sustainable development.
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