Financial instruments for ensuring national security: experience of Ukraine in military conditions

State security is the main guideline of state policy in the face of global challenges. For Ukraine, it is especially relevant, because during the period of the russian-Ukrainian war, its foundations and essence experience significant deformations. Since the risks and threats to national security have increased enormously in Ukraine under martial law, its financial component should be formed according to the tools corresponding to the challenges, even ahead of them, since, according to analysts, modern war is a war of finances. The problems faced by the state, the banking system, financial and commodity markets and institutions, corporations and households need new financial instruments to ensure flexibility in financing strategic goals. As of September, the losses of the Ukrainian economy from the war are estimated according to various estimates, from USD 105 billion, or 70% of the average annual GDP over the past 5 years, to USD 600 billion, and this exceeds the level of GDP in 2021 by 3 times. This actualizes the needs of the scientific study of financial instruments with the aim of effective state regulation and equalization in the face of limited and increasing losses of human and material resources, changes in the direction and speed of financial flows, their sources, structure, reproduction and reservation. The study examines financial instruments of a predominantly budgetary direction, as well as the components of national indicators of financial security. It is also important to analyze the share of the state in the economy, the size of which determines the speed of response and the completeness of resistance due to a threat to national security. To achieve the goals of the study, the main legally established risks of financial instruments of the national economy during the period of martial law are systematized. The indicators of the financial security of the state for the period of hybrid and military aggression of the rf (2013-2021) were assessed, and according to open sources of data, which are rather limited, a forecast of these indicators for 2022 was made. On the basis of the Financial Stability Report of the National Bank of Ukraine, the budget innovations of the period of martial law are analyzed. The sources of financing the state budget for the period of the legal regime of martial law and its main directions for 2023 are summarized. It is concluded that the financial system of Ukraine in a short time managed to organize financial flows in accordance with the needs of ensuring national security, form an optimal balance of resources, maintain the volume of financing of basic budget expenditures, attract donor resources and resist the inevitable decline of the economy during the war. The role of donor countries of economic and military assistance, in particular Latvia, in deterring military aggression and ensuring the stability of Ukraine's financial policy was emphasized

Визначення соціально-демографічних предикторів пріорітетного інвестування в контексті завдань фінансової підсистеми стартап-менеджменту

This research has investigated the retrospective trends in financing startups in Ukraine corresponding to the socio-demographic characteristics of startuppers (founders). Studying the dependences between the amount of funding and the qualitative characteristics of startuppers has made it possible to determine the socio-demographic predictors of making a positive decision regarding the financing of startups. As the current study has shown, in order to receive an investment, a startupper must meet the investor's expectations regarding reliability, qualifications, experience, and potential prospects. The investor analyzes not only the business idea of the startup but also the potential recipient for compliance with a series of socio-demographic predictors such as gender, age, level, and specialization of education. It has been proven that the largest amount of funding for startups in Ukraine is received by male funders, aged 35 to 45, who have a higher technical education. Startup investors consider such startuppers a priority for their investments since they see the least risks and a high probability of successful deployment of invested funds. The identified investors' preferences when choosing startup founders can be extrapolated to the startup environment of any country, however, they may change over time, depending on the specificity of the situation in the investment country. To rationally solve problems in the financial subsystem of startup management, it is necessary to preliminary determine the socio-demographic predictors of priority investment of startups of the respective country and area of activity. The practical tools for determining such predictors have been tested during this study. The practical significance of the research is due to the growing pace of development of startup technologies, the need to improve the effectiveness of the startup management financial subsystem, and increase the efficiency of the startup support infrastructureОбъектом исследования стали ретроспективные тренды финансирования стартапов в Украине в корреспонденции с социально-демографическими характеристиками стартаперов (фаундеров). Изучение зависимости объемов получаемого финансирования от качественных характеристик стартаперов позволяет определить социально-демографические предикторы для принятия позитивного решения, относительно финансирования стартапов. Как показало проведенное исследование, чтобы получить инвестицию, стартапер должен соответствовать ожиданиям инвестора в отношении надежности, квалификации, опытности и потенциальной перспективности. Инвестор анализирует не только бизнес-идею стартапа, но и потенциального реципиента на предмет соответствия его ряду социально-демографических предикторов, таких как пол, возраст, уровень и специализация образования. Доказано, что наибольшее финансирование в Украине получают фаундери мужского пола,в возрасте от 35 до 45 лет,которые имеют вышее техническое образование. Инвесторы стартапов приоритетными для своих вложений считают именно таких стартаперов, поскольку видят в них самые низкие риски и высокую вероятность успешного освоения инвестированных средств. Выявленные предпочтения инвесторов при выборе фаундеров могут быть экстраполированы на стартап-среду любой страны, однако, они могут изменяться во времени и зависят от специфики ситуации в стране инвестирования. Для рационального решения финансових задач стартап-менеджмента нужно определить социально-демографические предикторы приоритетного инвестирования стартапов в соответствующей стране и сфере деятельности. Практический инструментарий определения таких предикторов апробирован в данном исследовании. Практическая значимость исследования определяется растущими темпами развития стартап-технологий, необходимостью повышения результативности финансовой подсистемы стартап-менеджмента и ростом эффективности функционирования инфраструктуры поддержки стартаповОб’єктом дослідження стали ретроспективні тренди фінансування стартапів в Україні в кореспонденції з соціально-демографічними характеристиками стартаперів (фаундерів). Вивчення залежностей між обсягами отримання фінансування та якісними ознаками стартаперів дозволило визначити соціально-демографічні предиктори прийняття позитивного рішення стосовно фінансування стартапів.  Як показало проведене дослідження, для отримання інвестиції стартапер повинен відповідати очікуванням інвестора щодо надійності, кваліфікації, досвіду та потенційної перспективності. Інвестор аналізує не тільки бізнес-ідею стартапу, а й потенційного реціпієнта на предмет відповідності його ряду соціально-демографічних предикторів, таких як стать, вік, рівень та спеціалізація освіти. Доведено, що найбільші обсяги фінансування стартапів в Україні отримують фаундери чоловічої статі, віком від 35 до 45 років, які мають вищу технічну освіту. Інвестори стартапів пріоритетними для своїх вкладень вважають саме таких стартаперів, оскільки бачать в них найменші ризики та високу вірогідність успішного освоєння інвестованих коштів.  Виявлені уподобання інвесторів при виборі фаундерів стартапів можуть бути екстрапольовані на стартап-середовище будь якої країни, проте, вони можуть змінюватися з часом та залежно від специфіки ситуації в країні інвестування. Для раціонального розв’язання задач в фінансовій підсистемі стартап-менеджменту, необхідним є попереднє визначення соціально-демографічних предикторів пріоритетного інвестування стартапів відповідної країни та сфери діяльності. Практичний інструментарій визначення таких предикторів є апробованим у даному дослідженні.  Практична значимість дослідження обумовлюється зростаючими темпами розвитку стартап-технологій, необхідністю підвищення результативності фінансової підсистеми стартап-менеджменту та зростанням ефективності функціонування інфраструктури підтримки стартапі

Current issues of security management during martial law

The authors of the book have come to the conclusion that toensuring the country’s security in the conditions of military aggression, it is necessary to use the mechanisms of protection of territories and population, support of economic entities, international legal levers of influence on the aggressor country. Basic research focuses on assessment the resource potential of enterprises during martial law, the analysis of migration flows in the middle of the country and abroad, the volume of food exports, marketing and logistics system. The research results have been implemented in the different decision-making models during martial law, information and economic security management, formation of personnel potential and assets of enterprises, food, energy and environmental security management, use of budgetary levers and financial instruments. The results of the study can be used in the developing of directions, programs and strategies for the post-war recovery of Ukraine’s economy and the attraction of foreign investments in the regions, decision-making at the level of ministries and agencies that regulate security management processes. The results can also be used by students and young scientists in the educational process and conducting scientific research on the problems of ensuring the country’s security

Impact of the Covid-19 Pandemic on Entrepreneurial Capacity and Financial Security in Ukraine

The article analyzes the impact of the COVID-19 pandemic on business activities in Ukraine and the world and its financial security. The analysis showed that the economy of Ukraine and most countries of the world suffered significant losses from the introduction of anti-epidemic restrictions on business activity, which turned out to be in the fall of GDP, index of industrial production investment activity. Because of temporary or complete shutdown of business the unemployment rate increased significantly. The pandemic crisis also negatively impacted the financial results of enterprises, which decreased significantly in all kinds of economic activities, especially in industry, transport, temporary accommodation and catering, where the share of unprofitable enterprises reaches 73%. Thus, the problem of ensuring the financial security of business becomes relevant. The aim of the work is to develop methodological approaches to assessing the impact of the pandemic crisis on the financial security of business and to identify effective ways of ensuring such security. In the process of research methods of scientific abstraction, comparative and system analysis and synthesis, systematization and logical generalization were used. It was determined that the pandemic affected small and medium businesses most of all, where a strong negative impact was experienced by more than 60% of entrepreneurs. Large businesses were less affected, but they also suffered significant losses due to the decline in business activity and demand in the domestic and foreign markets. Agriculture was least affected by the pandemic, which suffered the least losses, primarily due to the insignificant impact of restrictions affecting the activities of this business. The paper systematized the risks arising from the factors of the pandemic crisis, identifying their manifestations and financial implications for business. As shown by the research, such consequences are manifested in the form of full or partial loss of profits, problems with debt repayment, reduction of financial stability, liquidity, increase in accounts receivable, increased costs for anti-epidemic measures, etc. Thus, the procedure for assessing the business’s financial security is to take into account all factors that shape the financial situation of business entities during a pandemic crisis in a comprehensive manner

Defining the Socio-demographic Predictors of Priority Investment in the Context of Tasks for the Financial Subsystem of Startup-management

This research has investigated the retrospective trends in financing startups in Ukraine corresponding to the socio-demographic characteristics of startuppers (founders). Studying the dependences between the amount of funding and the qualitative characteristics of startuppers has made it possible to determine the socio-demographic predictors of making a positive decision regarding the financing of startups. As the current study has shown, in order to receive an investment, a startupper must meet the investor's expectations regarding reliability, qualifications, experience, and potential prospects. The investor analyzes not only the business idea of the startup but also the potential recipient for compliance with a series of socio-demographic predictors such as gender, age, level, and specialization of education. It has been proven that the largest amount of funding for startups in Ukraine is received by male funders, aged 35 to 45, who have a higher technical education. Startup investors consider such startuppers a priority for their investments since they see the least risks and a high probability of successful deployment of invested funds. The identified investors' preferences when choosing startup founders can be extrapolated to the startup environment of any country, however, they may change over time, depending on the specificity of the situation in the investment country. To rationally solve problems in the financial subsystem of startup management, it is necessary to preliminary determine the socio-demographic predictors of priority investment of startups of the respective country and area of activity. The practical tools for determining such predictors have been tested during this study. The practical significance of the research is due to the growing pace of development of startup technologies, the need to improve the effectiveness of the startup management financial subsystem, and increase the efficiency of the startup support infrastructur