VUZF Review <p><strong>Focus and Scope:</strong>&nbsp;finance, financial markets, banking, marketing, insurance, accounting and control, business, entrepreneurship, application of mathematics and ICT in economics.</p> en-US (Ivan) (Ivan) Wed, 30 Sep 2020 21:05:33 +0300 OJS 60 Lobbying influence: public consultations and EU policy making <p>The European Commission considers involvement of interest groups as a way to strengthen democratic legitimacy in the European Union (EU). In terms of a strategy for enhancing good governance, the Commission has taken a range of actions to increase civil society inclusion. Whether these measures really add up to democratic legitimacy, however, depends on the allocation of influence among interest groups. In this context, the purpose of this study will be to analyze the distribution of influence by means of a quantitative analysis of submissions via the Commission’s public consultations.</p> Tatyana Todorova Copyright (c) 2020 VUZF Review Sun, 13 Sep 2020 08:58:25 +0300 Digitization as an innovative segment of enterprise financial security management <p>Today, the global trend of the digital world economy is entering an active phase of its development. In the leading countries of the world, the development of digital technologies, both at the state and corporate levels, has been begun to advance massively in government programs and business strategies.&nbsp;The substantiation of the role aspect of introduction of the process of digitization as an innovative element of improvement of the system of financial security management of representatives of the business sector of the economy is relevant. It is to investigate the impact of the digitalization system on improving the financial security management of enterprises in the process of improving the conceptual apparatus and develop an economic and mathematical model for evaluating financial security based on innovative proposals.</p> <p>To achieve this goal, we used the method of theoretical generalization to determine the conceptual apparatus of digitization and economic-statistical methods to substantiate the economic and mathematical model of assessing the financial security of enterprises.&nbsp;It is proposed to expand the conceptual apparatus of the system of financial security management of enterprises by introducing such definitions as «digitization of financial security», «digital base of financial storage» and «regulator of financial security». The authors’ position of the essential characteristic of the definitions is given and the advantages of their adaptation in the management cycle are stated. The feasibility of introducing the principle of «digitization of financial security» as one of the key elements of the innovative proposal of the system of financial security management of enterprises in the future is argued.&nbsp;An economic and mathematical model of financial security assessment based on the profitability criteria is developed and substantiated. A number of proposals have been made to improve the financial security management of enterprises based on individual segments of the digitization system.</p> Kotkovskyi Volodymyr , Vitalii Zaluzhny, Vitalii Kadala, Olena Guzenko; Maryna Bohatyrova; Julia Leskova-Hodlevska Copyright (c) 2020 VUZF Review Sun, 13 Sep 2020 19:17:22 +0300 Strategic change management at CUNIX infotech <p>Highly effective are those organizations that have managed changed and that too with a strategy being the governing light for the change management. Due to lean market growth and saturated business scenarios or just a complaisance over time are just a few reasons why change is required and in this case study we look at a change strategy that has led the organization to a 22%+ revenue growth consistently year on year. This is just a proof that change well thought of a better implemented strategically can definitely yield good results.</p> Hitesh Sanghavi Copyright (c) 2020 VUZF Review Wed, 16 Sep 2020 20:13:10 +0300 Integration of environmental, social and governance principles in pension funds and insurance companies activities <p>Sustainable finance has been one of the modern topics in recent years. The main reason is the growing need for active steps and measures to preserve nature and avoid the risks of climate change and its consequences. A basic concept in sustainable finance is the adoption and follow-up of ESG principles. The latter refers to environmental “E”, social “S” principles and good corporate governance “G” policies. Financial institutions are considered as the conductor of policies in the field of ESG principles. The European Union is following an action plan to implement these principles and policies in the financial sphere. This report examines the integration of ESG principles into the activities of insurance companies and capital pension funds. Potential problems are identified and possible solutions are presented.</p> Stanislav Dimitrov Copyright (c) 2020 VUZF Review Wed, 16 Sep 2020 20:19:09 +0300 Entrepreneurship – culture incentives <p>European commission has identified entrepreneurship as crucial for achieving the objectives of several European sectorial policies and as one of the main tools for overcoming the negative effects of the financial crisis of 2008. Despite the multitude of policies and tools to support entrepreneurship, there are still significant differences between member states regarding their entrepreneurial activity. Тhe present study offers an alternative approach for explaining those difference that takes into account the cultural context represented by cultural values. An empirical research is carried out using several indicators measuring entrepreneurial activity and comparing them with Geert Hofstede cultural dimensions indexes of EU member states via correlation analysis.</p> Desislava Dimitrova Copyright (c) 2020 VUZF Review Wed, 16 Sep 2020 20:25:36 +0300