Economics. Finances. Law最新文献

{"title":"The use of artificial intelligence in the management of investment portfolios","authors":"В. В. Матей, Bohdan KHYZHNIAK","doi":"10.37634/efp.2024.8.26","DOIUrl":"https://doi.org/10.37634/efp.2024.8.26","url":null,"abstract":"The ever-increasing complexity of financial markets, characterized by high market volatility, economic uncertainty, and the massive influx of various data pose a significant challenge in investment portfolio management. Traditional methods can fall short in addressing these challenges, requiring too much from an individual managing investment portfolios. The ability of AI to process a tremendous number of large datasets and to detect patterns offers a significant advantage for a manager, providing for more informed and timely investment decisions. The purpose of this annex is to encapsulate findings of the primary paper on the use of AI in investment portfolio management, highlighting the benefits and challenges, and also identifying areas for improvement and further research. The paper explores the possibility of using AI to enhance the effectiveness of an investment portfolio manager, through the improvement of analysis’ quality, help in data collection and processing, recognition of complex patterns, and faster decision-making. This could help optimize investment strategies through risk reduction, improved forecasting, and faster adaptation to market fluctuations. In addition, the paper aims to identify potential risks associated with AI integration, for example quality of data, algorithm transparency, and cybersecurity issues. Literature analysis demonstrated that application of AI can increase the efficiency of investment portfolio management. This is possible because of AI systems' ability to conduct advanced data search and analysis, providing for better decision-making. The use of AI algorithms allows investment portfolio managers to identify market trends more easily, optimize asset allocations, as well as minimize market volatility risks. А good example is BlackRock's Aladdin expert system, which provides comprehensive data insights, providing a competitive advantage. However, the paper also demonstrates, that implementation of AI systems is associated with several challenges, particularly - quality of provided data and opacity of AI algorithms, which can raise doubts regarding their effectiveness. Moreover, cybersecurity remains a significant concern. Overall, the use of AI presents opportunities for investment portfolio managers to improve results by providing competitive advantages. However, certain challenges need to be overcome. AI holds great promise for investment portfolio management, and future studies need to focus on AI integration, cybersecurity, and improvement of data quality.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"8/2024 -","pages":"127-131"},"PeriodicalIF":0.0,"publicationDate":"2024-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147909360","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The impact of artificial intelligence on the labor market in the world and particularly in Ukraine","authors":"Iryna Rossomakha, O. Kyrylenko, Anton Borysiuk","doi":"10.37634/efp.2024.2.6","DOIUrl":"https://doi.org/10.37634/efp.2024.2.6","url":null,"abstract":"Introduction. In the contemporary context of global environmental, economic, and epidemiological challenges, the study of artificial intelligence (AI) and its impact on the labor market is crucial. \u0000The purpose of this paper is to study the impact of artificial intelligence on the labor market in the world and particularly in Ukraine.\u0000The results of the research highlight a global trend of job displacement due to technological advancements, particularly in robotics and AI. The study defines AI and highlights its potential in tasks requiring human intelligence. A McKinsey Global Institute study suggests up to 300 million jobs could be lost globally by 2030, emphasizing concerns about employment stability. The paper explores industry-specific data, identifying high-risk areas like routine tasks for automation and less susceptible roles requiring creativity. The impact on the labor market is nuanced, with most jobs only partially automated, offering opportunities for complementation. Positive aspects of AI, such as creating new employment opportunities and enhancing worker safety, are underscored. Governments and businesses are urged to proactively retrain workers at risk of automation. The potential for job reduction in Ukraine is discussed, emphasizing the need for education reform. \u0000Conclusion. The multifaceted impact of AI on employment necessitates careful planning and consideration. For Ukraine, the focus should be on creating competitive AI specialists through specialized education, international collaboration, and skills development, enabling the country to navigate the evolving global environment.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"22 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140412125","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":"Determining the impact of the CRM system on the financial indicators of the enterprise using econometric methods","authors":"Oksana Prykhodchenko, I. Pistunov","doi":"10.37634/efp.2024.2.17","DOIUrl":"https://doi.org/10.37634/efp.2024.2.17","url":null,"abstract":"CRM systems help to improve customer relationship management, provide an opportunity for more accurate sales forecasting, optimization of marketing campaigns and increase in overall customer satisfaction. \u0000The purpose of the paper is to determine the impact of the CRM system on the financial indicatots of the enterprise.\u0000The study is based on the methods of econometric modeling, system analysis, financial analysis, works of domestic and foreign scientists, materials from periodicals, and data from the financial statements of the enterprise.\u0000A correlation analysis was conducted between the selected independent indicators to determine the degree of their relationship. Based on this, it was determined which factors have the highest correlation with each other, which made it possible to focus on the most important aspects of financial management. A regression multivariate model of the relationship between such factors as inventory, accounts receivable, sales costs, other operating expenses, and the resultant indicator - net working capital (NWC) - is built. \u0000The significance of the model as a whole and the significance of the regression coefficients are determined.\u0000It is predicted that the net working capital of the enterprise in 2023 will be less than in 2022, which is due to factors such as a high level of accounts receivable, sales costs and other operating expenses. After the integration of the CRM system, the company implemented a number of measures aimed at improving the management of these factors. In particular, the company introduced automation of receivables management processes, optimized sales and other operating expenses.\u0000As a result of these measures, the company's NWC increased at the end of 2023. This is confirmed by both the econometric model and the actual results.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140415088","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":"Utilization of blockchain technologies in accounting and auditing: analysis of innovative possibilities in the context of digital transformation","authors":"Nataliia Ivanova, Leonid Milman, A.Zh. Sakun","doi":"10.37634/efp.2024.2.3","DOIUrl":"https://doi.org/10.37634/efp.2024.2.3","url":null,"abstract":"Introduction. As organizations undergo digital transformation, the field of accounting and auditing is experiencing substantial changes. The potential of integrating blockchain technologies into accounting and auditing practices has been explored to identify innovative opportunities arising within the context of the ongoing digital revolution.\u0000The purpose of the paper is to analyze the innovative possibilities of utilizing blockchain technologies in accounting and auditing amidst the digital transformation.\u0000Results. The concept of blockchain technologies has emerged as a revolutionary and transformative force in the realm of digital innovations. Essentially, blockchain is a decentralized and distributed ledger technology that securely and transparently records transactions across a network of computers. This innovative approach to data management has the potential to reshape various industries, offering numerous advantages such as enhanced security, transparency, and efficiency. Analysis indicates that blockchain technologies present numerous innovative opportunities in the field of accounting and auditing. Immutable ledgers, smart contracts, and decentralized consensus mechanisms form the basis for improved data accuracy, fraud prevention, and real-time financial reporting. Furthermore, blockchain's capacity to streamline reconciliation processes and facilitate seamless information exchange among stakeholders provides significant advantages for both accountants and auditors.\u0000Conclusions. Blockchain technologies offer innovative opportunities for a revolutionary transformation of accounting and auditing practices in the era of digital transformation. The decentralized and transparent nature of blockchain enhances the reliability and efficiency of financial record-keeping, while smart contracts automate routine processes. While organizations grapple with implementation and regulatory challenges, the potential benefits of blockchain in accounting and auditing signal a shift in paradigm towards a more secure, efficient, and reliable financial ecosystem. As organizations navigate the digital transformation landscape, the adoption of blockchain in accounting and auditing practices becomes a strategic imperative to ensure financial integrity and transparency in the modern era.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"19 50","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140409238","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":"Administrative and legal foundations of increasing the effectiveness of financial control and audit in the field of national security in the context of reforming law enforcement agencies of Ukraine","authors":"Dmytro Pavlov","doi":"10.37634/efp.2024.2.16","DOIUrl":"https://doi.org/10.37634/efp.2024.2.16","url":null,"abstract":"The paper examines the peculiarities of financial control and audit in the field of national security, on the basis of the analysis of doctrinal and expert approaches, the directions of organizational and legal support for increasing their effectiveness are determined in the context of reforming law enforcement agencies of Ukraine in accordance with European standards and changing the paradigm of national security protection in the conditions of countering military aggression of the russian federation against Ukraine. The problem of improving the mechanism of financial control and audit in the context of reforming law enforcement agencies is considered as a component of activities aimed at forming a new paradigm of national security, the foundation of which should be an effective system of financial and material resource support, based on effective control mechanisms, built taking into account the need to implement standards of the EU and NATO countries, ensuring compliance with one of the main principles of ensuring national security - matching the costs of countering threats with the financial and economic capabilities of the state.\u0000The study takes into account the specific conditions in which law enforcement agencies are being reformed, which include the need to concentrate the main efforts of the State on repulsing military aggression against Ukraine, which began in 2014 in the form of a hybrid war and since 24 February 2022 has moved into the phase of an open full-scale military invasion of the Russian Federation, which in turn causes a huge additional burden on the State budget and partly on local budgets, and is aimed at countering a new range of threats to national security. The paper proposes the main directions and reserves for improving the efficiency of financial control and audit in the field of national security and defence through the introduction of new forms and methods of control, which are an element of the programme-targeted budgeting methodology.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"5 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140410415","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 state and problems of development of domestic start-ups in international markets during the war","authors":"Marta Adamiv, Sofiia Okunska","doi":"10.37634/efp.2024.2.2","DOIUrl":"https://doi.org/10.37634/efp.2024.2.2","url":null,"abstract":"Introduction. Start-ups are one of the accelerators of developing the innovation potential of the modern economy. In the problematic socio-economic conditions created by a full-scale war, start-ups can respond flexibly and quickly to the critical needs of society. Ukrainian start-ups have been actively developing in domestic and foreign markets in recent years. However, the full-scale invasion also created several problems for its functioning. It is worth noting that amid the war, the entry of Ukrainian start-ups into international markets allows them to diversify existing risks and creates additional development opportunities. We are discussing increasing market share, product and geographical diversification, additional export earnings, gaining experience abroad, attracting foreign investment, etc.\u0000The purpose of the paper is to identify and study the state and critical problems of the development of start-ups when entering international markets, taking into account the impact of full-scale war.\u0000Results. The study found that under the current war conditions, Ukrainian start-ups have been forced to expand their activities to international markets to diversify risks and increase investment attractiveness. At the same time, the full-scale invasion has created new challenges and problems for the development of Ukrainian start-ups at home and abroad. Thus, the study identified the main problems of entering and operating start-ups in international markets: the formation and functioning of a start-up team, attracting start-up financing, adapting to the regulatory framework for start-ups abroad, cultural and linguistic differences, and adapting products or services to a foreign market. It is worth noting that one of the main problems caused by the war was the reduction in investment in domestic start-ups.\u0000Conclusions. Thus, an important task today at various levels is ensuring start-ups' progressive development based on practical solutions to existing problems. After all, Ukrainian start-ups have great potential and can succeed internationally with the proper government support and competent management.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"2004 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140416328","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":"Risk-oriented approach in audit activity","authors":"V. Holovach, T. Holovach","doi":"10.37634/efp.2024.2.15","DOIUrl":"https://doi.org/10.37634/efp.2024.2.15","url":null,"abstract":"The paper is devoted to a comprehensive study of the risk-oriented approach in auditing. Based on the analysis of research by foreign and domestic authors, the content of the materiality of audit risk is clarified. Their inextricable relationship in the practical implementation of the risk-oriented approach is shown. The special attention is paid to the application of mathematical calculations to determine materiality and audit risk. The possibilities and main directions of using mathematical calculations for determining materiality and audit risk are shown. Based on the obtained results, it was concluded that mathematical calculations of materiality and audit risk have a relative value and should be submit to the professional skepticism of the auditor. The conducted research is based on the edition of International Standards on Auditing, including ISA 315 \"Identifying and Assessing the Risks of Material Misstatement\" and ISA 540 \"Auditing accounting estimates and related disclosures\". The publications provide relevant methodological recommendations for the practical use of a risk-oriented approach in audit activity.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"11 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140413970","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 place of the constitutional complaint in the human rights protection mechanism in Ukraine","authors":"Oleksii Stratii, O. Melenko","doi":"10.37634/efp.2024.2.20","DOIUrl":"https://doi.org/10.37634/efp.2024.2.20","url":null,"abstract":"This paper constitutes a fundamental study aimed at analyzing the institution of the constitutional complaint as a significant element in the system for the protection of citizens' social rights. It highlights the legal establishment and procedural aspects of the constitutional complaint, reviews current judicial practice, and the challenges faced by the Constitutional Court of Ukraine in its consideration. The author's research also focuses on the importance of the constitutional complaint for applicants, revealing its impact on the possibility of a retrial based on the conditions established by the Constitutional Court.\u0000The analysis includes an examination of the historical development and legal establishment of the constitutional complaint in Ukraine, paying attention to its role in strengthening legal guarantees and the protection of fundamental rights and freedoms. The influence of the Venice Commission and international legal standards on the formation of the constitutional complaint institution in Ukraine is separately considered.\u0000The paper includes arguments for the necessity of further development of the constitutional complaint institution, taking into account national peculiarities and the experience of foreign countries, to ensure effective protection of human rights. The authors highlight the key role of the constitutional complaint in the system of legal guarantees, emphasizing its significance for the democratization of society and the strengthening of the rule of law.\u0000The research results make a significant contribution to understanding the conceptual foundations, principles of operation, and legal regulation of the constitutional complaint institution, proposing ways for its optimization and integration into the Ukrainian legal system. The paper's conclusions stress the necessity of ensuring fundamental rights and freedoms of individuals as a key condition for the functioning of the rule of law and the development of a democratic society, defining the constitutional complaint as a significant tool in this process. A detailed analysis of legal aspects, judicial practice, and challenges faced by the Constitutional Court of Ukraine in considering constitutional complaints indicates the need to strengthen mechanisms for the legal protection of citizens' rights and freedoms. Highlighting the motivation of applicants and the role of the constitutional complaint in their legal protection demonstrates its significance both for individuals and for strengthening a democratic rule of law. Analyzing the contribution of domestic and international scholars to the development of the theoretical base of the constitutional complaint institution, the authors underline its importance in forming a legal system aimed at protecting the fundamental rights and freedoms of citizens.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"15 48","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140409277","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 strategy in ensuring the security of business structures","authors":"Denys Bielkin","doi":"10.37634/efp.2024.2.24","DOIUrl":"https://doi.org/10.37634/efp.2024.2.24","url":null,"abstract":"The paper considers the role of strategizing in ensuring the security of business structures. The theoretical aspect of the concept of \"strategizing\" in the context of security of business structures is studied. The approaches to defining the essence of its concept by foreign and domestic scholars are analyzed. It is determined that the most key aspects are the following: development management, self-development potential, a set of provisions and procedures, actions in case of uncertainty, maneuvering in conditions of imbalance, multiplier effect, achievement of goals, and resource. It is found that the main structural elements of business security are determined in accordance with the specifics of their activities. The most commonly distinguished are the following: information, technical and technological, personnel and intellectual, financial, organizational and managerial, environmental, power and political and legal. The author defines the role of strategizing in the formation of the security system of business structures and how it affects its individual subsystems, in particular, financial, technical and technological, organizational and managerial. With regard to the former, the actions and measures of strategizing are implemented at the stages of planning, analysis, evaluation and control. As for the second, they are implemented during foresighting, planning, analysis, evaluation, modeling, and controlling. As for the third, the actions and measures of strategy are implemented in planning, analysis, evaluation, controlling, forecasting and determining KPIs. All of this will have the corresponding effect: as for the financial subsystem of security - increasing the level of financial independence, sustainability and competitiveness; as for the technical and technological subsystem - increasing the level of innovation, adaptability, competitiveness; as for the organizational and managerial subsystem - increasing the level of corporate social responsibility, interconnection between the structural units of the organizational management structure.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"1 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140412327","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 state as a subject of private international law","authors":"Stanislav Saloid, Sergii Kyrychenko, O. Khlebynska","doi":"10.37634/efp.2024.2.12","DOIUrl":"https://doi.org/10.37634/efp.2024.2.12","url":null,"abstract":"The paper considers various aspects of international cooperation, in particular, the state's participation in civil-law relations that regulate international private law. The authors note that states participate in interstate public-law and civil relations that regulate private international law.\u0000The authors pay attention to the peculiarities of the legal status of the state in private legal relations, taking into account its sovereignty and ability to conduct international relations and conclude agreements.\u0000Aspects and roles of civil-law relations are considered, such as the state's involvement in property and financial relations, in particular, construction of buildings abroad, ownership of property, lease of land and participation in joint ventures.\u0000The authors note that it is important to distinguish between private-law and public-law relations in order to clarify the legal status of the state. The actions of the state in international private law relations and the performance of state duties as subjects of civil law are considered.\u0000The analysis of the issue of state immunity in international private law was carried out. The authors highlighted different points of view on the legal characteristics of immunity. Supporters of the non-imperative and imperative point of view were singled out. Despite theoretical differences, it can be determined that the legislation of all states and international conventions recognize immunity as a key principle. Also, the authors considered types of immunity, such as judicial immunity, immunity from preliminary enforcement of a claim and immunity from enforcement of court decisions. Each of these types of immunity was considered from the point of view of legal principles and practical aspects of their application.\u0000The paper emphasizes the importance of the state and its responsibility for actions within the framework of international legal relations on a par with other subjects of international private law.","PeriodicalId":504181,"journal":{"name":"Economics. Finances. Law","volume":"1 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140413813","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}