Baltic Journal of Economic Studies最新文献

{"title":"CONVERGENCE IN THE FIELD OF ECONOMICS AND LAW: CORRELATION OF PROCESSES","authors":"Serhii Vitvickii, S. Vasyliev, I. Ozerna","doi":"10.30525/2256-0742/2024-10-1-30-38","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-30-38","url":null,"abstract":"The activities of the modern state are carried out taking into account the trends inherent in the global community. One of the driving forces behind these trends is the strengthening of economic integration due to the increasing role of finance in the world economy, the effects of globalisation, liberalisation, concentration and centralisation of financial capital, which have shaped the new shape of the modern economic system. The integration of the world economy requires the integration of law in accordance with generally recognised norms and principles at the international level. The international character of law is an external circumstance that determines the facts of legal regulation of the convergence of states and peoples, their economies, cultures and ideologies. Convergence leads to the convergence of different legal systems and economic models. These circumstances indicate the existence of a global phenomenon that can be described as the process of economic and legal convergence. The subject of the study is the patterns of convergence in the field of economics and law. The authors aim to study the genesis of the convergence theory, identify the main trends and prospects for the development of convergence in the current environment, and explain the patterns of convergence in the field of economics and law in the context of globalisation. The methodological basis of the research is the theory of economic and legal convergence, the theory of state regulation of the economy, the theory of socio-economic systems and economic growth developed in the works of domestic and foreign economists, lawyers and philosophers. The study of basic economic and legal institutions is carried out on the basis of the dialectical method, general scientific methods of abstraction, analysis, synthesis and systematic approach. The research of certain issues was carried out using special methods: historical, comparative, interpretation of law, logical and legal, as well as methods of specific economic research, etc. The authors analyse certain issues of economic and legal convergence in terms of their historical formation, relevance, efficiency and prospects for application. Results. Convergence in the field of economics and law is a process of interaction of relevant elements both within national systems and economic and legal systems of different states, characterised by convergence, an increase in the number of links between the elements of converging objects and a certain degree of consistency of the impact of these elements on social relations. On the basis of the study, the authors believe that the use of convergence processes in the field of economics and law at the global level should be carried out only in a harmonious manner, creating common balanced results based on a unifying model of coherent cooperation of the subjects of these processes.","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"15 9","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140736897","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}

{"title":"FEATURES OF FINANCIAL AND LEGAL LIABILITY IN UKRAINE","authors":"Oleg Dubynskyy, Ihor Dubynskyi, Sergii Markin","doi":"10.30525/2256-0742/2024-10-1-72-79","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-72-79","url":null,"abstract":"The subject of the study is public relations in the field of financial and legal responsibility in Ukraine. Methodology. The methodological basis of the study is the methods of induction and deduction, the dialectical-materialistic method, the method of analysis and synthesis, and the historical method, which allowed for an objective understanding of the content and essence of the issues under study. The aim of the article is to analyse the theoretical aspects of the features of financial and legal liability in Ukraine in order to propose effective ways to improve the mechanism of these procedures. The results of the study have shown that the independence of financial responsibility in Ukraine is emphasised by the relevant criteria, which include the obligation of a person guilty of committing a financial offence to undergo measures of state coercion provided for by the sanctions of financial legislation. Conclusion. Financial responsibility in Ukraine is a legal relationship with a special procedural form of implementation. Financial and legal responsibility is an independent measure of financial sovereignty of the state, has its own legal nature and occupies a certain place in financial legal relations. At the same time, it should be said that liability for violation of financial legislation does not exist only within the framework of financial legislation. Financial responsibility is undoubtedly a type of legal responsibility and is primarily due to the special sphere of sectoral activity of the state and its authorised bodies, which today is considered to be the financial activity of the state, where not all subjects of law are involved, but only subjects of financial law and their financial obligations, which differ only in their ownership, price and public character. Another peculiarity is that, as a rule, financial and legal liability is by its nature restorative, aimed at eliminating negative and other undesirable consequences caused to the financial system of the state. This feature of financial and legal liability reflects the public nature of financial obligations, the fulfilment of which is ensured by the application of financial liability. Some peculiarities that distinguish financial liability in Ukraine are caused by the nature of financial offences that are the basis for financial liability and distinguish financial liability from other types of liability applied both in connection with administrative and disciplinary offences and in connection with criminalised financial crimes and civil offences, the subjects of which are usually independent individual subjects of financial activity, individuals, and companies.","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"36 2","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140736698","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}

{"title":"THE ROLE OF THE ACCOUNTING ASPECT OF INNOVATIVE ACTIVITIES OF REGIONAL ENTERPRISES IN ENSURING THEIR ECONOMIC SUSTAINABILITY","authors":"Y. Klius, M. Melnik, D. Fomenko","doi":"10.30525/2256-0742/2024-10-1-105-111","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-105-111","url":null,"abstract":"In a world of rapid and continuous change and constant competition, innovation is becoming an important element in the sustainable development of companies and regions. A key factor in the success of innovation processes is the accounting aspect, which involves the systematisation, analysis and documentation of innovative changes. The study of this topic is becoming increasingly relevant due to the need to identify and solve problems related to innovation accounting. It aims at combining two strategically important areas – innovative development of enterprises and modern approaches to accounting and financial management. Purpose of the article. The purpose of the publication is to identify the key aspects of the problems associated with accounting for innovation activities at enterprises, as well as to reflect the role of such accounting in ensuring their economic sustainability. Methodology. The methodological basis of the work was formed by general scientific and special research methods: comparison, analysis, generalisation, graphic and tabular. The information base is based on official statistics, company reports and accounts, Internet resources and publications, and the results of the authors' own research. Practical implications. The research examines the problems of accounting for innovation activities of enterprises and makes proposals for their solution. The Ukrainian legislation regulating accounting lacks a coherent methodology for accounting for innovation costs. In order to provide the necessary analytical information on the costs of innovation activity, it is recommended to use accounts of the eighth class, opening sub-accounts of the third, fourth and higher order. Value/originality. The sources of financing and peculiarities of accounting for innovation activities of enterprises are studied, the main of which are the state resources and resources of enterprises and other business entities. Among the non-traditional sources of financing are venture capital funds, business incubators, business angels and crowdfunding.","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"51 2","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140740633","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}

{"title":"TRENDS IN THE DIGITAL TRANSFORMATION OF UKRAINE'S ECONOMY IN THE CONTEXT OF WAR","authors":"I. Maksymenko, Andrii Akimov, Svitlana Markova","doi":"10.30525/2256-0742/2024-10-1-175-184","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-175-184","url":null,"abstract":"Influenced by the processes of global digital transformation and the requirements set by the European Union in the context of European integration, the Ukrainian economy, even before the full-scale invasion, was focused on the development of digital technologies that allow increasing the level of production automation and labour productivity, reducing costs, increasing revenues, improving competitiveness and realising other benefits of digitalisation. At the same time, during the war, the role of digital technologies is growing, turning into a flexible tool that ensures the economic sustainability of Ukraine. Despite the considerable attention of researchers to the problems of building Ukraine's digital economy in wartime, the key features and trends of its development require a more detailed study, taking into account the challenges and tasks that arise in martial law and can be quickly and effectively addressed with the help of digital technologies. In this regard, the study of the specifics of the development of digital transformation of the economy in order to achieve Ukraine's strategic goals in wartime deserves special attention. The subject of the study is the process of digital transformation of Ukraine's economy in wartime. The purpose of the study is to analyse the features and trends in the development of Ukraine's digital economy, taking into account the challenges and needs of wartime, and to propose ways of post-war recovery. The study of the problem was carried out with the use of a combination of general scientific and modern research methods, among which the main ones are the method of system analysis (when studying the approaches and points of view of domestic and Western scientists), economic and statistical (to determine the trends in the development of the digital economy in Ukraine), analysis and synthesis (when studying the types of digital economy), graphic (to visualize a number of theoretical and practical provisions of the article). The purpose of the article is to study the peculiarities of development of Ukraine's digital economy in the context of current challenges caused by the war. The authors emphasises that digitalisation processes are important for the restoration and development of the national economy and for increasing the country's competitiveness. The importance of further development of the digital economy is determined not only in the context of war, but also to overcome its consequences in the period of post-war recovery. Conclusions. Digital technologies have a significant potential to restore the national economy and accelerate economic development, as they can facilitate the transition from the use of material to information resources, reduce production costs, create new technological products and bring them to the global market, increase the country's competitiveness, etc. In addition, digital technologies can accelerate Ukraine's economic development both during the war and in the period of post-war","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"38 3","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140740791","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}

{"title":"MODERN TOOLS FOR MANAGING LOCAL BUDGETS IN THE CONTEXT OF DECENTRALISATION","authors":"Iia Chudaieva, O. Sukach, L. Sarana","doi":"10.30525/2256-0742/2024-10-1-247-255","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-247-255","url":null,"abstract":"The crisis in Ukraine's economy requires the government to take significant transformation steps. The issue of decentralization of state powers in favor of local self-government as a basis for the transition to a new administrative-territorial system remains relevant. After all, the current assistance from partner countries to rebuild infrastructure and provide social guarantees does not cover the needs of local governments. Today, the budgets of hromadas, which are formed in accordance with the basic principles of the Concept of Reforming Local Self-Government and Territorial Organization of Power in Ukraine, demonstrate an increase in revenue sources, but these resources are not enough to restore the country's economy. The purpose of the article is to highlight the results of decentralisation in Ukraine; to identify the impact of structural changes in the national economy on the financial capacity of local self-government bodies. Methodology. To achieve this goal, the article uses the structural method, comparative analysis of empirical data, and abstract and logical generalisation. Results. The paper examines the current realities of filling the budgets of hromadas. It finds that, despite the hostilities and the consequences of the coronavirus crisis, some local budgets in 2022-2023 were executed with a surplus. However, one of the factors behind this situation is the increase in \"military\" income tax revenues, which has significantly strengthened local budgets, but at the same time led to the misuse of funds. At the same time, there was an increase in capital expenditure in local budgets. Subsidies for education and health care, basic, additional and other budgeted transfers were transferred from the state budget to the budgets of local governments. However, the study points out the imperfection of the current equalisation system, which requires the construction of an optimal calculation model. Practical implications. As a basis, it is proposed to use the practice of the leading countries of the world, which is to increase the interest of local authorities in independently searching for additional sources of budget revenues and to reduce the pressure from the government to withdraw funds. Value/originality. Increasing their own revenues, which do not depend on the government's policy on the distribution of national taxes and fees, will allow hromadas to plan expenditures on priority areas regardless of changes at the political level.","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"31 7","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140736575","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}

{"title":"INTERNATIONAL EXPERIENCE IN REGULATING JOINT VENTURE RELATIONS: SEARCH FOR EFFECTIVE INSTRUMENTS FOR THE POST-WAR RECONSTRUCTION OF UKRAINE","authors":"Volodymyr Hutsuliak, A. Hryniak, Mariana Syhydyn","doi":"10.30525/2256-0742/2024-10-1-63-71","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-63-71","url":null,"abstract":"The subject of the study is the conceptual, legislative and theoretical provisions in the field of legal regulation of contractual relations in the implementation of joint activities in Ukraine and some European countries, as well as in the field of using the structure of joint activities as a special type of economic relations in the conduct of business. Methodology. General scientific methods were used in the research process. The comparative method was used to compare the legislative approaches to the legal regulation of contractual relations in the joint activities of Germany, France, Poland, Moldova and Ukraine. The analysis was used to determine the specifics of legislative approaches to the legal regulation of contractual relations for the implementation of joint activities in these countries, to identify their advantages and disadvantages. Synthesis was used to determine the methodological principles of legal regulation of joint activities. Induction and deduction were used to determine the basic principles of the functioning of civil legal partnerships with the aim of carrying out joint activities by their participants. The aim of the article is to propose concrete ways of improving the Ukrainian legal mechanism of contractual regulation of joint activity relations in order to ensure prompt and efficient post-war reconstruction of destroyed infrastructure facilities, the success of the process of recodification of the civil legislation of Ukraine and its harmonisation with the legislation of the EU countries. The results of the study have shown that, in general, the Ukrainian legislative approach to the legal regulation of relations on the implementation of joint activities is the most liberal and dispositive in comparison with the corresponding approaches of the European countries, which confirms the opinion that it is necessary to understand the agreement on joint activities as an effective legal and economic instrument for the post-war reconstruction of Ukraine, based on the consolidation of human efforts and resources (capital) for the achievement of a common goal. Conclusion. In order to improve the national legislative approach to the legal regulation of relations on joint activities on a contractual basis and to harmonise it with the provisions of European legislation, it is advisable to enshrine the following provisions by way of borrowing: 1) the prohibition of participants to engage in any activity that may be detrimental to the company, including the prohibition of competition; 2) the possibility of depriving a participant of the right to manage the company by a court decision if there is a valid reason, in particular as a result of a gross breach of duty; 3) the right of a participant to withdraw from a limited partnership if there are valid reasons and the invalidity of the objection to this effect; 4) the establishment of a basic list of the essential terms of a simple partnership agreement. This will undoubtedly have a dir","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"21 10","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140738835","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}

{"title":"ORGANISATION OF MARKETING ACTIVITIES IN AGRICULTURAL ENTERPRISES","authors":"I. Tomashuk, Olena Dzhedzhula, Olena Koval","doi":"10.30525/2256-0742/2024-10-1-222-236","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-222-236","url":null,"abstract":"The aim of the article is to identify the characteristics of the introduction and development of marketing activities in agricultural enterprises in order to increase the efficiency of their activities. Methodology. The theoretical and methodological basis of the study is a systematic approach to the study of economic phenomena and processes related to the marketing activities of agricultural enterprises. In formulating theoretical generalisations and formulating conclusions and proposals, the paper uses historical, abstract and logical, and monographic methods. Forecasting of indicators characterising the marketing potential of enterprise in the context of increasing labour productivity at enterprises, market parameters and substantiation of the choice of marketing strategy of agricultural producers is carried out using the methods of extrapolation and economic forecasting. The article uses general scientific and special research methods: abstraction and comparison, analysis and synthesis, graphical methods, deduction, economic and mathematical modelling, observation and comparison, and the logical method. The results of the study show that marketing instruments include methods of its implementation, i.e., advertising, sales, customer service, pricing policy, study of needs and demand, communication with consumers and the public. Calculation of a comprehensive indicator of efficiency of marketing activity of enterprises is an important direction of assessment of the status and level of development of the marketing complex at enterprise. The indicator makes it possible to promptly identify and eliminate deviations in achieving goals and fulfilling tasks, which affects the overall performance of the enterprise. The results of the study are presented in the form of tables, graphs, diagrams, and charts. Practical implications. Since the marketing activity of an agricultural enterprise is multifaceted, it is necessary to evaluate its effectiveness in the following areas: efficiency of implementation of marketing functions, implementation of the marketing complex and use of marketing resources. In order to assess the level of efficiency of marketing activities, it is necessary to analyse both strategic and tactical aspects of the agricultural enterprise. Value/originality. An important component of ensuring marketing activities in the agricultural market is the communication policy of the enterprise. A modern system for assessing the effectiveness of marketing activities should take into account the possibility of disseminating information via the Internet, which is an indispensable tool for obtaining up-to-date marketing information.","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"62 3","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140739273","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}

{"title":"THEORETICAL AND METHODOLOGICAL BASES OF FORMATION OF THE CONCEPT OF ENSURING SOCIO-ECONOMIC SECURITY OF ENTERPRISES IN THE CONTEXT OF DIGITALISATION OF BUSINESS PROCESSES","authors":"A. Cherep, I. Dashko, Yulia Ohrenych","doi":"10.30525/2256-0742/2024-10-1-237-246","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-237-246","url":null,"abstract":"It is established that the system of free enterprise in the form in which it is implemented does not ensure progressive changes and they do not occur. The authors believe that in order to ensure a high level of socio-economic security of Ukrainians, it is advisable to use methods, levers, information and legal support for socio-economic security based on the digitalisation of business processes at enterprises, organisations and institutions. The article substantiates the expediency of forming a structure and mechanism for ensuring socio-economic security, taking into account the determination of the values of the State, phenomena of public life and public consciousness, in order to solve the problems of ensuring the effective operation of enterprise through the use of digital innovative technologies. It proposes a structure of socio-economic security of enterprises in the context of digitalisation of business processes. In order to ensure the conditions for social protection of employees of enterprise, a mechanism for such protection is proposed, taking into account the economic component, which will largely depend on the introduction of digital technologies into the business processes of enterprise. The paper suggests the concept of digitalisation of business processes of enterprise with a view to forming and ensuring socio-economic security of enterprises in the context of digitalisation of business processes. It is proved that the digital society is a necessary progressive movement, which involves the intensive and productive use of digital technologies in all spheres of human life, the life of economic entities, regions and the State. The publication analyses the global volume of trade through e-commerce retail in 2016-2021 as a sign of the external environment of socio-economic security of enterprise. The emphasis is placed on the digital society as an external environment of socio-economic security of enterprise. It is determined that digital technologies have a significant impact on the socio-economic security of enterprises, as they allow increasing the profitability of production, reducing human labour costs, ensuring rhythmic operation at all stages of business processes, making it possible to implement the tasks set and achieve common economic, social and civic goals. It is determined that the digital economy covers not only the information and communication sector, but also all business sectors in all areas of economic activity, including the public and private sectors, non-financial and tertiary sectors, financial sector, extractive industry, manufacturing and services, agriculture and construction. The study analyses the system characteristics of functioning of the mechanisms for ensuring socio-economic security, taking into account the relationship between internal relations and the external environment. The article examines the assessment of digital quality of life according to the Digital Quality of Life Index 2023, and identifie","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"60 3‐4","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140736310","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}

{"title":"RESPONSIBLE BUSINESS PRACTICE BY INSTITUTIONAL INVESTORS AS THE BASIC MEANS OF PREVENTING VIOLATIONS OF PUBLIC INTEREST OF CITIZEN INVESTORS","authors":"V. Vazhynskyi, M. Pohoretskyi, Z. Toporetska","doi":"10.30525/2256-0742/2024-10-1-20-29","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-20-29","url":null,"abstract":"The article is devoted to the analysis of the concept of \"responsible business conduct\" from the point of view of public interest. It is noted that responsible corporate governance has its origins in the concept of \"corporate social responsibility\", which became widespread in the 1970s in the US and the UK as a result of increased public and consumer attention to the overall image of companies. At the international level, many documents have been adopted to regulate corporate social responsibility. However, not enough has been done in Ukraine to introduce this category into economic activity. The purpose of the research is to analyse the legal grounds and theoretical approaches to the formation of the concept of \"responsible business conduct\" and to present the author's approach to the essence of the concept of \"responsible business conduct of institutional investors\" from the point of view of the protection of the public interest. According to the purpose of the article, several scientific methods of modern epistemology were used in the scientific research. The methodological basis of the study was the theory of legal cognition developed by prominent experts in the field of investment law. In addition, special research methods were used, in particular: comparative – to compare the rules of international and national law; historical and legal – for retrospective analysis of the concept of social responsibility; special legal – for in-depth analysis of the regulations governing the procedure of investment; systematic approach and logical-legal method – to analyse the impact of some factors on the investment activity of individuals and some elements of the formation of logical and specific theoretical and applied conclusions. In conclusion, the authors define responsible business as a set of generally accepted norms, rules and principles that are voluntarily implemented by companies in order to achieve the goals of sustainable development of society; they are not part of the national legislation of Ukraine, but their observance indicates a certain business reputation of the business entity. For institutional investors, responsible corporate governance includes two main groups of activities of an institutional investor: \"responsible attraction\" of funds and \"responsible investment\" of funds of individual investors. The authors proposed to divide the responsible business conduct of an institutional investor to manifest its social responsibility into \"responsible attraction\" of funds and \"responsible investment\" of funds.","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"13 8","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140737685","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}

{"title":"DIRECTIONS FOR THE DEVELOPMENT OF THE INNOVATION POTENTIAL OF ENTERPRISES IN THE CONTEXT OF DIGITAL TRANSFORMATIONS","authors":"Olena Gudz, Natalya Yevtushenko, Anastasiia Hlushenkova","doi":"10.30525/2256-0742/2024-10-1-44-53","DOIUrl":"https://doi.org/10.30525/2256-0742/2024-10-1-44-53","url":null,"abstract":"The article is aimed at reviewing and clarifying the theoretical and methodological aspects of forming the concept of \"innovation potential of enterprise\". To assess the state of development of the innovative potential of Ukrainian enterprises in the context of digital transformation. To substantiate the feasibility of using a digital transformation strategy to achieve the set goals in the current competitive environment. The level of development of the innovation potential of Ukrainian enterprises was measured over a number of years (2010-2021). Methodology. The article uses economic and abstract and logical research methods in combination with methods of analysis, synthesis and graphical representation. This made it possible to assess the level of development of the innovative potential of Ukrainian enterprises according to the main international rating and macroeconomic indicators. Results. The results of the assessment of the development of Ukraine's innovation potential revealed that the cost of implementing innovative developments in the country's GDP is decreasing every year. It was found that Ukrainian enterprises are slowly diversifying their production towards knowledge-intensive goods and services. This slow state of innovation is reflected in global indices, where Ukraine ranks among lower-middle-income countries. The main reason for this situation is the limited state policy in the field of innovation. It is established that at the state level, the development of innovation potential in the context of digital transformations is formed within the framework of scientific research and high-tech start-ups. Practical implications. In order to increase the innovation activity of enterprises and grow their innovation potential, it is advisable to change the values and guidelines of strategic management. In these conditions, the digital transformation strategy, which is considered as part of the overall communication strategy of the enterprise, becomes relevant for application. In the course of implementing the digital transformation strategy, effective communication interaction between the enterprise and its customers is ensured, and a qualitatively new model of communication processes management is formed and applied, taking into account digital technologies. Value/originality. Research on the development of innovation potential in Ukraine proves the need to use a digital transformation strategy as an effective modern tool for managing an enterprise in the context of digital transformation.","PeriodicalId":44766,"journal":{"name":"Baltic Journal of Economic Studies","volume":"33 12","pages":""},"PeriodicalIF":0.5,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140736570","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}