Economy of Ukraine
Published since September 1958
Login

№ 6/2023

Ekon Ukr. 2023 (6): 3–22
https://doi.org/10.15407/economyukr.2023.06.003

ECONOMIC MANAGEMENT: THEORY AND PRACTICE

УДК 336.1

JEL: G34, G38, О16

IEFYMENKO Tetiana1

1SESE “Academy of Financial Management”, Research ID : http://www.researcherid.com/rid/https://www.webofscience.com/wos/author/record/HMP-1501-2023
OrcID ID : https://orcid.org/https://orcid.org/0000-0002-9163-3959


HARMONIZATION OF THE INFORMATION ENVIRONMENT FOR STRESS RESISTANCE OF THE CORPORATE SECTOR OF ECONOMY


For almost a year and a half since the start of the full-scale invasion of Ukraine by Russian troops, our people have been demonstrating to the whole world the presence of invaluable domestic intangible assets: cultural, ethnic, genetic, intellectual - in the form of courage, determination, communication, leadership and resilience. Thanks to the synergistic effect of their combination with material component, macroeconomic, financial and external stability has been overall preserved, although the threat of destructive phenomena is increasing. Therefore, despite our indomitableness and support from the International Monetary Fund and other significant official financing from the outside, Ukraine will continue to face serious challenges and a considerable need for monetary and credit resources. The corporate sector of the economy requires high volumes of capital investments, which are impossible without harmonizing the information space of entrepreneurs’ and employers’ business activity with global norms and rules for compliance with the principles of transparency, accountability, property rights protection, as well as improving the investment climate and tackling corruption at all levels.
Using modern economic theories, research, on the one hand, and experience of corporate entrepreneurship in the coordinates of the regulatory role of supranational, state structures, on the other, the methodological principles of promoting the best practice of enterprise reporting on sustainable development have been determined with the aim of their further implementation in Ukraine. Based on the analysis of key changes made to the EU directives, other international regulations, ways to further standardize the disclosure of information on stress resistance, as well as sustainable development of business entities, are proposed. The appropriateness of integrating into the enterprise reporting cycle the very important data on the shock resilience potential in the conditions of war and post-war reconstruction is substantiated.


Keywords:uncertainty; stress resistance; resilience of national economy; sustainable development reporting; infrastructure of sustainable development reporting; Post-war reconstruction plan for Ukraine

Article original in Ukrainian (pp. 3 - 22) DownloadDownloads :148
The article was received by the Editorial staff on May 23 , 2023

References

1. Schumpeter J.A. The theory of economic development. An inquiry into profits, capital, credit, interest, and the business cycle. Kyiv, 2011 [in Ukrainian].

2. Hayek F.A. The Collected Works. Capital and Interest. L.H. White (Ed.). Routledge, 2016, Vol. 11.
doi.org/10.7208/chicago/9780226274904.001.0001

3. Hayek F.A. The Collected Works. Business Cycles: Part I. H. Klausinger (Ed.). Routledge, 2012, Vol. 7.
doi.org/10.7208/chicago/9780226320496.001.0001

4. Hayek F.A. The Collected Works. Business Cycles: Part II. H. Klausinger (Ed.). Routledge, 2012, Vol. 8.
doi.org/10.7208/chicago/9780226320496.001.0001

5. Berle A.A., Means G.C. The Modern Corporation and Private Property. Routledge, 2017.

6. Drucker P.F. Concept of the Corporation. Routledge, 2017.
doi.org/10.4324/9781315080734

7. Kelso L.O., Kelso P.H. Democracy and Economic Power: Extending the ESOP Revolution through Binary Economics. Cambridge; Massachusetts, Ballinger Publishing Co., 1986.

8. Erhard L. Prosperity Through Competition. Ludwig von Mises Institute, 2010.

9. Coase R.H. The Firm, the Market, and the Law. University of Chicago Press, 2012.

10. Buchanan J.M., Tollison R.D. The Theory of Public Choice - II. University of Michigan, 2009.

11. Stiglitz J.E. Rewriting the Rules of the European Economy: An Agenda for Growth and Shared Prosperity. W.W. Norton & Company, 2020.

12. Williamson O.E. The Theory of the Firm as Governance Structure: From Choice to Contract. Journal of Economic Perspectives, 2002, Vol. 16, No. 3, pp. 171-195.
doi.org/10.1257/089533002760278776

13. Galbraith J.K. The Affluent Society. Fortieth Anniversary Edition. New York, Houghton Mifflin Company, 1998.

14. Heyets V. On the question of theory and practice of social quality policy in post-war Ukraine. Economy of Ukraine, 2023, No. 4, pp. 3-22 [in Ukrainian].
doi.org/10.15407/economyukr.2023.04.003

15. Hrytsenko A.A. Nationally rooted development in a divided-common world. In: International historical experience of postwar economic reconstruction: lessons for Ukraine. Proc. Int. Sci.-Pract. Conference (Kyiv, April 27, 2023). Kyiv, 2023, p. 13. URL: ief.org.ua/wp-content/uploads/2023/05/Mizhnar-istor-dosvid-povojen-reconstrukcii-uroky-dla-Ukrainy.pdf [in Ukrainian].

16. Libanova E.M. On the post-war revival of Ukraine. Visn. Nac. Acad. Nauk Ukr., 2023, No. 2, pp. 55-61 [in Ukrainian].
doi.org/10.15407/visn2023.02.055

17. Hanushek E.A., Woessmann L. The Basic Skills Gap. Finance & Development, 2022, No. 6. URL: www.imf.org/en/Publications/fandd/issues/2022/06/basic-skills-gap-hanushek-woessmann

18. Marchenko S. Strategic public finance governance: European integration course, international trends, national peculiarities. Finance of Ukraine, 2022, No. 1, pp. 7-26. doi.org/10.33763/finukr2022.01.007 [in Ukrainian].
doi.org/10.33763/finukr2022.01.007

19. Goldin I. Rethinking Global Resilience. Finance & Development, 2020, September, pp. 4-10. URL: reparti.free.fr/fd0920.pdf

20. Ryndzak O. Social vulnerability assessment: theoretical and methodological aspects. Economy of Ukraine, 2022, No. 6, pp. 54-65. doi.org/10.15407/economyukr.2022.06.054 [in Ukrainian].
doi.org/10.15407/economyukr.2022.06.054

21. Iefymenko T.I. Economic management in the conditions of war and post-war reconstruction as a specific mechanism for resolving the contradictions of globalization and localization. In: Economic contradictions of globalization and localization in the conditions of hybrid war and post-war reconstruction. A.A. Hrytsenko (Ed.). Kyiv, 2022. pp. 94-148. URL: ief.org.ua/wp-content/uploads/2022/12/Ec-superech-globaliz-ta-localiz-v-umomah-gibryd-viyny.pdf [in Ukrainian].

22. Akanbi O.A., Gueorguiev N., Honda J. et al. Avoid a Fall or Fly Again: Turning Points of State Fragility. IMF Working Paper, 2021, Iss. 133. doi.org/10.5089/9781513573687.001
doi.org/10.5089/9781513573687.001

23. Brakman S., Garretsen H., van Witteloostuijn A. The turn from just-in-time to just-in-case globalization in and after times of COVID-19: An essay on the risk re-appraisal of borders and buffers. Social Sciences & Humanities Open, 2020, Vol. 2, Iss. 1. doi.org/10.1016/j.ssaho.2020.100034
doi.org/10.1016/j.ssaho.2020.100034

24. Iefymenko T. Information and fiscal space to strengthen the resilience of the economy in conditions of sustainable development. Finance of Ukraine, 2022, No. 11, pp. 7-18. doi.org/10.33763/finukr2022.11.007 [in Ukrainian].
doi.org/10.33763/finukr2022.11.007

25. Iefymenko T.I., Lovinska L.H., Oliynyk Ya.V., Kucheryava M.V. Enterprise reporting on sustainable development in the conditions of the COVID-19 pandemic. Kyiv, 2021. URL: afu.kiev.ua/getfile.php?page_id=1030&num=1 [in Ukrainian].
doi.org/10.33763/finukr2021.06.007