Annotation and references (in Latin): translation / transliteration / transcription Текст научной статьи по специальности «Экономика и бизнес»

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ВІСНИК Київського національного університету імені Тараса Шевченка ISSN 1728-3817

Appendix 1

ANNOTATION AND REFERENCES (IN LATIN):

TRANSLATION / TRANSLITERATION / TRANSCRIPTION

T. Zatonatska, Doctor of Sciences (Economics), Associate Professor Taras Shevchenko National University of Kyiv, Kyiv

WORLD EXPERIENCE OF FORMATION OF STATE INVESTMENT POLICY AND MECHANISMS

FOR ITS IMPLEMENTATION

The paper analyzes the current state of regulatory and legal framework of public investment activities in Ukraine. Taking into account recommendations of international organizations, the author investigated world trends in development of public investment policies, as well as mechanisms of its implementation, and the importance of the brand new investment policy that is to fuel economic growth and competitiveness of domestic productions due to synergy of investment policy and development of industries. The basic features of public investment policy in Ukraine and possibilities of its further integration with brand new investment policies are being disclosed. It is essential to highlight the top-priority sectors for investment inflows and establish the optimal ratio of public and private funding. Regarding different investment policy approaches of EU countries there is a possibility of implementing certain of them in Ukraine. The number of recommendations are given in order to introduce the harmonization of regulatory and legislative framework in Ukraine with European standards; expansion of budget investment by enhancing the State Bank for Reconstruction and Development to support first-priority sectors; clear defining of legally approved priority areas of economic growth and criteria for the allocation of capital expenditures, allowing the effective growth of the economy; revision of current state programs concerning its expediency, quantity, and impact on industry and economy. Considering experience of developed countries, it is reasonable to introduce new forms of support for such industries as coal mining, agriculture, which are likely to promote domestic private investment in these areas. The author analyzed the prospects of refocusing of government investment into economic and social infrastructure, innovative programs, which ensure the transition of the economy to high-tech and science-intensive sectors, improving the competitiveness of Ukrainian companies on global markets.

1. The Verkhovna Rada of Ukraine (2003), Commercial Code of Ukraine, available at: http://zakon2.rada.gov.ua/ laws/show/436-15 (Accessed 20 April 2014).

2. The Verkhovna Rada of Ukraine (1991), The Law of Ukraine "On Investment", available at: http://zakon4.rada.gov.ua/laws/show/1560-12 (Accessed 09 November 2013).

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4. Hrytsenko, L. L. (2012), "State Investment Policy: Essence, Goals and Objectives", Naukovi pratsi Kirovohrads'koho natsional'noho tekhnichnoho universytetu, no. 22, pp. 90-96.

5. Chervan'ov, D. M. (2003), Menedzhment investytsijnoi diial'nosti pidpryiemstv [Management of investment activity of enterprises], Znannia-Pres, Kyiv, Ukraine.

6. The official site of United Nations Conference on Trade and Development (2012), "World Investment Report 2012:

Towards a New Generation of Investment Policies", available at: http://unctad.org/en/PublicationsLibrary/

wir2012_embargoed_en.pdf (Accessed 25 April 2014).

7. The official site of United Nations Conference on Trade and Development (2011), "World Investment Report 2011: Non-Equity Modes of International Production and Development", available at: http://www.unctad-docs.org/files/UNCTAD-WIR2011-Full-en.pdf (Accessed 25 April 2014).

8. Turiians'ka, M. M. (2004), "Investment Climate: Approaches to Modeling", Naukovi pratsi DonNTU, no. 76, pp. 103-111.

9. Davydovskaja, M. Novikov, V. Stupin, V. Hohlova, T. and Shadrin, A. (1999), Gosudarstvennoe regulirovanie jekonomiki: opyt pjati stran [Government regulation economy: the experience of five countries], Institut jekonomiki perehodnogo perioda, Moscow, Russia.

10. Novoselova, L. (2006), "O realizacii investicionnoj sostavljajushhej strategii jekonomicheskogo rosta v KNR", Rossijskij jekonomicheskij zhurnal, vol. 4, pp. 63-72 (rus).

11. Ivanova, N. and Danilin, I. (2010), "Antikrizisnye programmy v innovacionnoj sfere", Mirovaja jekonomika i mezhdunarodnye otnoshenija, vol. 1, pp. 26-37 (rus).

I. Pavlenko, Doctor of Sciences (Economics), Professor,

І. Tymchenko, PhD Student Taras Shevchenko National University of Kyiv, Kyiv

COAL INDUSTRY RESTRUCTURING: GLOBAL TRENDS AND CONDITIONS IN OUR COUNTRY

This paper examines the international experience of the restructuring coal mining industry. The paper highlights the issue of inefficiency public restructuring and features of its the implementation of developed countries. We established that phased approach in the implementation of the restructuring is the guarantee of successful completion of this reform. The main features of the restructuring according to a study is corporatization processes of vertical integration of coal enterprises, continuous state support, high environmental standards in the industry, creating a favorable investment environment, the availability of programs to support the population of mining regions, focus on clean coal technologies and maintaining of coal mining as a factor of energy security. The research identifies socio-economic implications reform: high levels of unemployment, fiscal deficits for coal mining industry, environmental issues. The study formulates measures to improve the investment activity to coal mining regions carrying out restructuring: tax holidays for coal industry enterprises, preferential bank loans, establishment scientific centers to develop measures aiming increase of environmental safety. The results of the study suggests using the algorithm of forming anti-crisis strategy for the restructuring of the coal industry of Ukraine, that it was created by a group of scientists of the International Institute for Sustainable Development.

1. (2008), Likvidatsiya frantsuzskoy gosudarstvennoy ugolnoy kompanii. Zarubezhnaya panorama [Liquidation of French Public of Coal Company], Ugol, vol. 10, s. 69.

2. Arauzo, I., Zamorano, I., Cortes, C., Lacarta, M., nd (1997), "Evaluation of Coal Switching Effects in Power Plant Perfrormance: Turuel Power Plant Operating Experience", available at: http://teide.cps.unizar.es:8080/pub/publicir.nsf /codigospub/0123/$FILE/cp0123.pdf (Accessed 15 April 2014).

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3. Bhattacharya, S. (2008), "Coal-fired Power Generation, Replacement/retrofitting of Older Plants", Workshop on Fuel Options for Power Generation in ASEAN, Bangkok, Thailand (22-23 Sep. 2008), 16 pp.

4. Black, D., McKinnish, T. and Sanders, S. (2005), "The Economic Impact of the Coal Boom and Bust", The Economic Journal, vol. 503 (04), pp. 449-476.

5. Brendow, К. (2004), "World Coal Perspectives to 2030", World Energy Council, Geneva/London, available at: http://www.worldenergy.org/documents/coal_summ.pdf (Accessed 15 April 2014).

6. Davidson, R. M. (2000), How Coal Properties Influence Emissions. CCC/28, London, UK, IEA Clean Coal Centre, pp. 125-159.

7. Energy Policies of IEA Countries. Australia Review (2012), International Energy Agency, OECD/IEA, available at: http://www.iea.org/publications/freepublications/publication/name,46273,en.html (Accessed 15 April 2014).

8. Energy Policies of IEA Countries. Belgium Review (2009), International Energy Agency, OECD/IEA, available at: http://www.iea.org/publications/freepublications/publication/name,3949,en.html (Accessed 15 April 2014).

9. Energy Policies of IEA Countries. France Review (2009), International Energy Agency, OECD/IEA, available at: http://www.iea.org/publications/freepublications/publication/name,3901,en.html (Accessed 15 April 2014).

10. Energy Policies of IEA Countries. Germany Review (2007), International Energy Agency, OECD/IEA, available at: http://www.iea.org/publications/freepublications/publication/name,3724,en.html (Accessed 15 April 2014).

11. Energy Policies of IEA Countries. Poland Review (2011), International Energy Agency, OECD/IEA, available at: http://www.iea.org/countries/membercountries/poland/ (Accessed 15 April 2014).

12. The Global Value of Coal (2012), International Energy Agency, OECD/IEA, available at: http://www.iea.org/publications /insights/insightpublications/global_value_of_coal.pdf (Accessed 15 April 2014).

13. Energy Policies of IEA Countries. United Kingdom Review (2012), International Energy Agency, OECD/IEA, available at: http://www.iea.org/publications/freepublications/publication/name,46278,en.html (Accessed 15 April 2014).

14. Energy Policies of IEA Countries. United States of America Review (2007), International Energy Agency, OECD/IEA, рр. 135-136, available at: http://www.iea.org/publications/freepublications/publication/name,3728,en.html (Accessed 15 April 2014).

15. Fothergill, S. and Guy, N. (1994), An Evaluation of British Coal Enterprise, Coalfield Communities Campaign, Barnsley, 41 pp.

16. Heller, J. (2010), US Coal Markets: Looking Abroad. Hellerworx Inc, USA, Presented at Jackson Kelly Coal Summit, Lexington, Kentucky, 15 April 2011.

17. Lan, Т., Beaton, C. and Presta, В. (2010), "Strategies for Reforming Fossil-Fuel Subsidies: Practical Lessons from Ghana, France and Senegal", International Institute for Sustainable Development (IISD), Geneva, Switzerland.

18. Mimuroto, Y., Kimura, T., Koizumi, K. (2004), "Restructuring of the Coal Industry in Australia", Institute of Energy Economics, Japan, available at: http://eneken.ieej.or.jp/en/data/pdf/235.pdf (Accessed 15 April 2014).

19. Parker, M. (1994), The Politics of Coal's Decline: the Industry in Western Europe, RIIA, London, 76 pp.

20. Suwala, W. (2010), Lessons Learned from the Restructuring of Poland’s Coal-mining Industry, available at: http://www.iisd.org/gsi/sites/default/files/poland_casestudy_ffs.pdf (Accessed 15 April 2014).

21. Walker S. (2001), "Experience from Coal Industry Restructuring", IEA Coal Research, London, vol. 01 (05), p. 22-23.

22. World Energy Resources (2013), Coal, World Energy Council, available at: http://www.worldenergy.org/wp-content/uploads/2013/10/WER_2013_1_Coal.pdf (Accessed 15 April 2014).

23. Zhylinska O., Balan V., Petrovska T. (2013), "Comparative Analysis of the Prospects of Ukrainian Coal Mines by the COPRAS-G Method", Ekonomika, vol. 92 (4), pp. 100-113.

O. Zhylinska, PhD in Economics, Associate Professor Taras Shevchenko National University of Kyiv, Kyiv, Ukraine, M. Chuiko, Master in Management University of Nurland, Bode, Norway

AUDIT OF INNOVATIVE IDEAS AS THE PREVIOUS STAGE OF THE BUSINESS-PLAN OF START-UP PROJECTS

The paper is dedicated to the procedure of evaluation of innovative ideas and start-up projects - the methodology of feasibility study. The methodology of feasibility study is considered as the substantiation of the rationality of venture capital investments attraction in the process of transformation from the innovative idea to the innovation product. According to the feasibility study, the life cycle of the business project is illustrated as a multi-step decision-making process. This multi-step decisionmaking process is based on such techniques and instruments that provide venture capitalists with comprehensive information about the cost estimation of innovative ideas. Feasibility study of innovative idea is determined as a preliminary stage of the business plan. It is characterized that business plan and feasibility study are equally necessary and important in the transformation process from the innovative development into the finished product. It is proved that the methodology of feasibility study is the first and necessary step in the creation and implementation process of the start-up ideas. Feasibility study is demonstrated as a reliable tool in the process of profitable business project identification that helps venture investors to detect potentially successful business projects at their initial stage of innovative ideas' nucleation. As a result of the examination process of feasibility study components', that are "product-market-startup-company", was designated that an alternative innovative projects are investigated for the life cycles' compatibility of each component of feasibility study. It is specified, that feasibility study should be carried out periodically during the process of transformation from the innovative ideas into innovative products. As the conclusion of the research, the methodology of feasibility study is identified as an analytical tool that provides project managers and venture investors with the necessary information for the decision-making process, as well as allows them to predict the probability of achieving cost indicators of business project.

1. Sahlman, W. (1997), "How to Write a Great Business Plan", Harvard Business Review, July-Aug., pp. 98-108.

2. Barringer, B. R. and Ireland, R. D. (2008), Entrepreneurship: Successfully Launching New Ventures, 2nd ed. Pear-son/Prentice-Hall: Upper Saddle River.

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3. Delmar, F. and Shane, S. (2003), "Does business planning facilitate the development of new ventures?", Strategic Management Journal, 24, pp. 1165-1185.

4. Bhide, A. (2000), The Origin and Evolution of New Businesses, Oxford University Press: New York, US.

5. Gruber, M. (2007), "Uncovering the Value of Planning in New Venture Creation: A Process and Contingency Perspective", Journal of Business Venturing, 22, pp. 782-807.

6. Eschenbach, T. (1992), "Quick Sensitivity Analysis for Small Business Projects and Feasibility Studies", Transactions of the American Association of Cost Engineers, vol. 2, pp. L.6.1-L.6.8.

7. Justis, R. and Kreigsmann, B., (1979), "The Feasibility Study as a Tool for Venture Analysis", Journal of Small Business: ABI/INFORM Global, 17 (1), pp. 35-42.

8. Katsman, Y., Topchishvili, G. and Schneider, A. (2002), Nauka pobezhdat’ v investicijah, menedzhmente i marketinge [Science of Victory in Investment, Management and Marketing], Publishing House "AST", Moscow, Russia.

9. Zhylinska, 0. I. (2014), "Transformation in Investment Behaviour of Households as a Factor of Venture Capital Firms' Development", Finance of Ukraine, vol. 3, pp. 83-99.

10. Matienko, V. M., Shchukin, O. I. and Voight, S. M. (2009), "Evaluation methods of ventures' projects", Journal of Economic Science of Ukraine, vol. 2, pp. 87-90.

11. Chervanyov, D. M., Zhylinska, 0. I. and writing team (2011), Mizhdystsyplinarnyj slovnyk z menedzhmentu [Interdisciplinary Dictionary of Management], Nichlava, Kyiv, Ukraine.

O. Gerasimenko, PhD in Economics, Associate Professor Taras Shevchenko National University of Kyiv, Kyiv

MODERN TRENDS OF DEVELOPMENT OF THE SOCIAL AND LABOR SPHERES IN UKRAINE

The essence and structure of social and labor sphere as an institutional space, where social and labor relations are emerging and developing in the course of work activity, is substantiated. It is noted that the basis of social and labor sectors are institutions of employment and human resources development. It is proved that referring of institutions of human's social security in the stages of the life cycle beyond the employment period is inappropriate. Preconditions, patterns and imperatives of social and labor sphere transformation under conditions of post-industrial society formation are systematized. Global and national social and economic development trends are considered as prerequisites. Patterns are interpreted as objective phenomena and processes that reflect the revelation of the transformation characteristics. Imperatives as the challenges are associated with the new problems and tasks in the sphere of regulation of social and labor area. The characteristic of the labor market current state in Ukraine on key parameters is given. The major trends in unemployment and growth of economic and social inequality in Ukraine are revealed. The prevalence of non-traditional forms of employment in Ukraine is determined. The preferences of borrowed work for companies as well as the risks and threats to its use for the employee are generalized. The causes of the informal employment spreading in Ukraine are revealed. The main trends in labor earnings in Ukraine are identified. Author determined problems in domestic remuneration sphere. The condition of system of compulsory social insurance is defined. The need for improved administration of funds of compulsory social insurance activities is noted. The main tasks of the further development of social and labor sphere are radical enhancement of the role of decent and productive work in social development, the elimination of excessive imbalance in social income distribution, poverty reduction and the formation of a progressive social structure. The priority of theoretical and application scenarios of further social and labor sphere transformation in Ukraine are defined. In particular they are the promoting job creation and preservation existing high-performance jobs; improvement of legal instruments regulating social and labor relations; gradual convergence of standards of wages to the European level; creating favorable working conditions; ensuring the relationship between the amount of remuneration and the results of the work.

1. Angelko, I. (2010), "Informal Employment in Ukraine in the Contemporary Economy", Ukrainian society, vol. 3 (34), pp. 124-132.

2. Luk'yanenko, D. H., Poruchnyk, A. M., Kolot, A. M., Stolyarchuk, Y. M., Kudynova, A. V. and Panchenko, Ye. H. (2008), Hlobal'na ekonomika XXI stolittya: lyuds'kyy vymir [Global Economy of the XXI Century: the Human Dimension], KNEU, Kyiv, Ukraine.

3. Kolosova, R. P. (2008), Formy zanjatosti naselenija v innovacionnoj jekonomike [Forms of employment in innovative economy], MASK Press, Moscow, Russian Federation.

4. Kolot, A. M. (2010), Sotsial'no-trudova sfera: stan vidnosyn, novi vyklyky, tendentsiyi rozvytku [Social and labor issues: the state of relations, challenges and trends], Kyiv National Economic University (KNEU), Kyiv, Ukraine.

5. Odegov, Y. G., Rudenko, G. G. and Babynina, L. S. (2007), Jekonomika truda [Labour Economics], vol. 2, Izdatel'stvo "Al'fa-Press", Moscow, Russian Federation.

6. (2013), Proekt kontseptsiyi sotsial'noyi polityky Ukrayiny do 2023 roku [Draft Concept of Social Policy of Ukraine to 2023], Kyiv, Ukraine.

7. Zhalilo, Y. A., Kononenko, K. A. and Yablons'kyy, V. M. (2014), Systemna kryza v Ukrayini: peredumovy, ryzyky, shlyakhy podolannya [Systemic Crisis in Ukraine: Background, Risks, Ways to Overcome], The National Institute for Strategic Studies. Analytical and Prognostic Support for the President of Ukraine, Kyiv, Ukraine.

8. Smirnyh, L. I. (2012), Zajomnyj trud v Rossii: byt'ili ne byt'? [Contingent labor in Russia: to be or not to be?], Izd. dom Vysshej shkoly jekonomiki, Moscow, Russian Federation.

9. The official site of State Statistics Services of Ukraine (2014), available at: www.ukrstat.gov.ua (Accessed 12 June 2014).

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K. Kovalska, PhD in Economics, Associate Professor Taras Shevchenko National University of Kyiv, Kyiv

STATE AND DEVELOPMENT PROSPECTS OF GERMANY CONSULTING MARKET IN THE CONTEXT OF EUROPE-WIDE TRENDS

This paper investigates the main features of the European consulting market, that allow to identify the main development strategy of it. Globalization and transnationalism processes influence on all world markets. European consulting market is not the exception and it has transformed with a clear trend towards concentration consulting capacity in the market leading countries. The largest European consulting market is German. The author analyzed the structural configuration of the Germany consulting market on its functional grounds, with the customer's branch, as well as geographically. It was determined that in the structure of management consulting services in Germany business-consulting is dominated, and among other components of this segment the services of strategic planning and production (operating) consulting are prevalent. Considering the common European consulting market trends, it is worth noting that the greatest demand consulting services are in the industrial, banking and insurance, as well as in the public sector. The observed structure and characteristics of the European consulting market allows further conclusions about its potential and possible strategic choices of all its participants. These and other achieved results are useful for defining the strategic directions of Ukrainian consulting market development in the context of Europe-wide trends.

1. Survey of the European Management Consultancy 2011/2012 / FEACO [Online], available at: http://www.feaco.org/ sites-/default/files/sitepagefiles/Feaco%20Survey%202011-2012.pdf (Accessed 15 June 2014).

2. German consulting industry overview and features [Online], available at: http://www.e350.net/index.php/archives/89 (Accessed 15 June 2014).

3. Verba, V. А. (2011), Upravlins’ke konsul’tuvannia: kontseptsiia, orhanizatsia, rozvytok [Consulting Management: Conception, Organization, Development], KNEU, Kyiv, Ukraine.

4. Vergunenko, N. V. (2013), "The peculiarities of modern species structure of the European consulting market", Eko-nomichnyj prostir, vol. 71, pp 5-14.

5. Growth in the German, Swiss and Austrian (GSA) consulting market slows sharply [Online], available at: http://www.consultant-news.com/article_display.aspx?id=9414 (Accessed 15 June 2014).

6. Luenendonk liste 2013. TOP 25 Managementberatung-Unternehmen in Deutschland 2012 [Online], available at: http://luenendonk-shop.de/out/pictures/0/lue_liste_u_pi_2013_managementberatung_f160513(1)_-fl.pdf (Accessed 15 June 2014).

7. Unrivalled density of top lawfirms and management consultancies [Online], available at: http://www.duesseldorf.de/en/economic-/standort/dienstleistungen.shtml (Accessed 15 June 2014).

8. The site "Deutcsche Welle" (2012), Vajnman Т. Biznes-konsalting v Germanii: kak uskorit’ evolyutsiyu kar’yeru [Online], available at: http://dw.de/p/14v7u (Accessed 15 June 2014).

I. Kornilova, PhD in Economics, Associate Professor Taras Shevchenko National University of Kyiv, Kyiv

WORLD EXPERIENCE OF FINANCIAL SUPPORT OF INNOVATIVE DEVELOPMENT

This paper examines and summarizes international experience of financial support for innovation. This study identifies the financial support for innovation, the main factors realization of its functionality; considers the importance of financial subsystem in the development of the national innovation system. The paper available brief description and assessment of financing innovation sector in Ukraine. This study focuses on the research experience of state financial support for countries that have achieved high positions in the world economy and demonstrate active growth dynamics of innovation, such as the USA, Germany, Finland, Japan and China. The paper found, that data on the state of the financial subsystem of the national innovation systems of these countries using aggregate performance world rankings, evaluations of international economic organizations and national statistics. This study emphasizes on studying the characteristics of financial instruments to stimulate innovative development inherent in different countries. We consider the financial advantage of direct and indirect actions, which often used in the practice of the regulation of innovation-studied countries, especially in the area of taxation, loans, program-based management, public procurement, grants, venture capital and more. The results obtained of the study and synthesis of world experience financial support innovative development will strengthen the theoretical and methodological foundations of development proposals for the further development of the financial subsystem of innovative activity in Ukraine in the context of optimizing the financing structure, activation of indirect methods of stimulation, development of public-private partnerships in innovation.

1. Derzhavne agenstvo z pytan' nauky, innovacij ta informatyzacii (2014), "Naukovo-tehnologichna sfera Ukrai'ny stanom na 2013 rik" [Online], available at: http://www.dknii.gov.ua/?q=system/files/buklet _2013.pdf (Accessed 10 June 2014).

2. Ivanova, N., Dezhina, I., Sheljubskaja, N. and Pipija, L. (2008) "Analiz innovacionnoj politiki i ocenka ee rezul'tatov", Innovacii, vol. 7, pp. 44-60 (ukr).

3. OECD (2014), "Main Science and Technology Indicator" [Online], available at: http://www.oecd.org/sti/msti.htm (Accessed 10 June 2014).

4. Derzhkomstat Ukrai'ny (2013), "Vykonannja naukovyh ta naukovo-tehnichnyh robit u 2013 roci" [Online], vol. 148/0/05.3vn-14 (18.04.2013), available at: http://www.ukrstat.gov.ua/ (Accessed 25 December 2013).

5. Nauchnaja polytyka v cyfrah. Blog Ivana Sterligova (2014), "Rashody na nauku po dannym OECD. Statistika po PPS i v nominal'nom dollarovom vyrazhenii" [Online], available at: http://isterligov.blogspot.com/2013/08/oecd.html (Accessed 10 June 2014).

6. Battelle. The Business of Innovation (2013), "R&D Magazine. 2014 Global R&D Funding Forecast, December 2013" [Online], available at: http://www.battelle.org/docs/tpp/2014_global_rd_funding_forecast.pdf?sfvrsn=4 (Accessed 10 June 2014).

7. OECD iLibrary (2012), "OECD Science, Technology and Industry Outlook 2012" [Online], available at: http://www.oecd-ilibrary.org/search (Accessed 10 June 2014).

8. (2010), Analytical Perspectives. Budget of the United States. Fiscal Year 2011. Office of Management and Budget, p. 336, Washington, US.

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9. Antonjuk, L L., Poruchnyk, A. M. and Savchuk, V. S. (2003), "Innovacii': teorija, mehanizm rozrobky ta komercializacii'", KNEU, Kyiv, Ukraine.

10. Innovation Statistic (2013), "Eurostat Yearbook online" (Data from January 2013) [Online], available at: http://epp.eurostat.ec.europa.eu/statistics _explained/index.php/Innovation_statistics (Accessed 7 July 2013).

11. Ignatushhenko, E. I. (2012), "Innovacionnaja Germanija v jekonomike Evropejskogo Sojuza v jepohu mirovogo jeko-nomicheskogo i finansovogo krizisa" [Online], Molodoj uchenyj, vol. 7, рр. 78-82, available at: http://www.moluch.ru/ archive/42/5115/ (Accessed 10 June 2014).

12. The World Economic Forum (2014), "The Global Competitiveness Report 2013-2014" [Online], available at: http://www.weforum.org/reports/global-competitiveness-report-2013-2014 (Accessed 10 June 2014).

13. The Global Innovation Index 2013 (2013), [Online], available at: http://www.globalinnovationindex.org/

content.aspx?page=gii-full-report-2013 (Accessed 10 June 2014).

14. Dynkin, A. A. (2008), "Mirovaja jekonomika: prognoz do 2020 g. Prilozhenija", Magistr, Moscow, Russia, pp. 351-429.

15. (2011), Business Guide (Tematicheskoe prilozhenie k gazete "Kommersant"), vol. 54, pp. 8-9 (rus).

16. Androshhuk, G. O. (2009), "Programa innovacijnogo rozvytku ekonomiky Nimechchyny: Strategija vysokyh tehnologij", Nauka ta innovacii', part 5, vol. 3, pp. 72-88 (ukr).

17. Pichkurova, Z. V. and Gala, Z. I. (2012), "Innovacijna skladova ekonomichnogo rozvytku Nimechchyny v umovah global'noi' konkurencii'", Bjuleten' Mizhnarodnogo Nobelivs'kogo ekonomichnogo forumu, vol. 1 (5), part 2, pp. 309-316 (ukr).

18. Fadeeva, V. (2010), "Nacional'naja innovacionnaja sistema Germanii", Upravlenie proizvodstvom [Online], available at: http://www.up-pro.ru/library/innovations/national_innovative_organizations/nacyonalnaja-inn.html (Accessed 10 June 2014).

19. (2007), "Nacional'na innovacijna systema: zarubizhnyj dosvid, stan v Ukrai'ni. Analitychni materialy do parla-ments'kyh sluhan'" (za red. akademika NAN Ukrai'ny V. M. Gejecja, d.e.n. L. I. Fedulovoi), Instytut ekonomiky ta prognozu-vannja Nan Ukrai'ny, Kyiv, Ukraine.

20. Polunjejev, Ju. (2006) "Tehnologija ekonomichnogo proryvu", Dzerkalo tyzhnia (Ukraina), vol. 41 (620), available at: http://www.dt.ua/1000/1030/54916 (Accessed 10 June 2014).

21. (2009), "Finljandija kak jekonomika znanij. Jelementy uspeha i uroki dlja drugih stran" (pod red. Karla Dzh. Dal'mana i dr., per. s angl., Vsemirnyj bank), Ves' mir, Moscow, Russia.

22. OECD (2014), Statistics. OECD [Online], available at: http://www.oecd.org/statistics/ (Accessed 10 June 2014).

23. Rogov, S. (2010), "Rossija dolzhna stat' nauchnoj sverderzhavoj", S&TRF, [Online], available at: http://www.strf.ru/material.aspx?CatalogId=221&d_no=28654#.U29o0KIrR3d (Accessed 10 June 2014).

24. National Bureau of Statistics of China (2012), [Online], available at: http://www.stats.gov.cn/english/ (Accessed 10 June 2014).

I. Krupka, PhD in Economics, Associate Professor Ivan Franko National University of Lviv, Lviv

STATE REGULATION OF DOMESTIC FINANCIAL SERVICES MARKET IN THE CONTEXT OF THE EUROPEAN INTEGRATION PROCESS

In the conditions of globalization the main focus of government policy of Ukraine, both internal and external, is accession to the European community and full participation in the EU. Joining the eU will provide significant opportunities for Ukraine, but also creates a number of problems for financial market participants and regulators of the financial sector. Most of it appears to non-bank financial institutions, which are the weakest link in the national financial market, because in Ukraine is bank's model of the financial market, in which the main role is played by banks (controlling about 85% of financial resources).

This paper investigates the evolution of state regulation of domestic financial services market. It is noted that Ukraine's accession to the EU will result in significant pressure on the internal regulators of the financial sector, which primarily have to improve their activities to the level at which discharge their duties regulatory authorities of this integration association. Financial services markets is an important element of financial systems in the EU, and supervision and regulation of financial intermediaries are integral part of economic and financial policies of governments and central banks.

In Ukraine, the regulation of financial services is in its infancy, but already established structures require independence in their actions, so it is reasonable to explore the world and European practice of regulation in these markets to further improve the system of national regulation. It should be noted, that we can distinguish, depending on the peculiarities of the national financial systems due to specific historical development, laws, traditions, political structure, level of economic development and government regulation of the economy, three basic models of financial markets regulation in the world: a sectorial, cross-regulation model (twin-picks) and the model of a single supervision (mega-regulator). It was found that in European countries there is a tendency for the transition and implementation of the model of single supervision.

The features of the organization of mega-regulator in Europe in the supervision of financial conglomerates are analysed. On this basis, suggestions to improve supervision of the financial services market in Ukraine in terms of European integration are made. For instance, incremental (stage) steps to move to the model of single supervision in financial services are offered, the benefits and risks of the introduction of the model are noted. An elaboration of new strategy for financial sector development in Ukraine, especially the financial services market, is substantiated, also as a necessity for harmonization and unification of national legislation with the European one.

1. Krupka, M. I., Andrushchak, Ye. M. and Paitra, N.H.(2013), Bankivska systema [Banking System], Lviv, Ukraine, 556 p.

2. Klapkiv, Yu. M. (2010), Formuvannia intehrovanoho nahliadu za mizhsektorovoiu dialnistiu finansovyh instytucii [Formation of Integrated Supervision of Intersectoral Activities of Financial Institutions], Innovaciina ekonomika, vol. 2, pp. 148-151.

3. Koval, O. P. (2010), Deiaki aspekty derzhavnoho rehuliuvannia rynku finansovyh posluh v Ukraini [Some Aspects of State Regulation of the Financial Services Market in Ukraine], Financy Ukrainy, vol. 11, pp. 80-86.

4. Krupka, I. M. and Siverska, L. B. (2010), Stratehia reformuvannia nahliadu ta rehuliuvannia finansovoho rynku Ukrainy [Strategy of Reforming Supervision and Regulation of the Financial Market of Ukraine], Formuvannia rynkovoi ekonomiky v Ukraini, vol. 23, part 2, pp. 12-18.

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5. Lubenska, O. Kliuchovi pryntsypy strakhuvannia: vymohy mizhnarodnji asotsiatsii orhaniv nahliadu za strakhuvanniam [Key Principles of Insurance: Requirements of the International Association of Insurance Supervisors], available at: http://forinsurer.com/public/02/12/28/186 (Accessed 20 April 2014).

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8. Naumenkova, S. V., and Mishchenko, V. (2010), Systema rehuliuvannia rynkiv finansovykh posluh za rubizhnykh krain [Financial Service Markets Regulation System of Foreign Countries], Kyiv, Ukraine, available at: http://www.bank.gov.ua/doccatalog/document?id=70699 (Accessed 20 April 2014).

9. Naumenkova, S. V. (2009), Zarubizhnyi dosvid orhanizatsii system rehuliuvannia i nahliadu za diialnistiu finansovyh ustanov [Foreign Experience of Organization of Regulation and Supervision Systems of Financial Institutions], Financy Ukrainy, vol. 12, pp. 20-27.

10. Natsionalna komisia, shcho zdiisniuie rehuliuvannia u sferi rynkiv finansovyh posluh [The National Commission for the State Regulation of Financial Services Markets], Kyiv, available at: http://nfp.gov.ua/ (Accessed 20 April 2014).

11. Pro poriadok nadannia nebankivskym finansovym ustanovam, natsionalnomu operatoru poshtovoho zviazku hener-alnykh litsenzii na zdiisnennia valiutnykh operatsii [The Order of Granting Non-bank Financial Institutions, National Postal Operators General Licenses for Foreign Currency Transactions], Kyiv, available at: http://zakon1.rada.gov.ua/ laws/show/z0712-02 (Accessed 20 April 2014).

12. Pro finansovi posluhy ta derzhavne rehuliuvannia rynkiv finansovyh posluh [Financial Services and State Regulation of Financial Services Markets], Kyiv, available at: http://zakon0.rada.gov.ua/laws/show/2664-14 (Accessed 20 April 2014).

13. Rozhko, O. (2008), Rozvytok instytutiv parabankivskoi systemy Ukrainy: problemy ta perspektyvy [Development of Nonbanking Institutions in Ukraine: Problems and Prospects], Ekonomika, vol. 101, pp. 35-37.

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15. Shkolnyk, I. O. (2008), Finansovyi rynok Ukrainy: suchasnyi stan i stratehia rozvytku [Financial Market in Ukraine: Current State and Development Strategy], Sumy, Ukraine, available at: http://www.twirpx.com/file/507207 (Accessed 20 April 2014).

16. Miemorandum Ukraina-MVF: kliuchievyie pozitsii ofitsialnoho dokumienta [Memorandum Ukraine-IMF: Key Positions of Official Document], Kyiv, available at: http://biz.liga.net/ekonomika/all/novosti/2740767-memorandum-ukraina-mvf-klyuchevye-pozitsii-ofitsialnogo-dokumenta.htm (Accessed 20 April 2014).

17. Moshenskii, S. Z. (2010), Rynok tsennykh bumag: transformatsyonnyie protsesy [Equity Market: the Transformation Processes], Moscow, Russia, 240 p.

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Sector Supervision, IMF Working paper, 2006, vol. 57, 32 р., available at: http://www.imf.org/external/

pubs/ft/wp/2006/wp0657.pdf (Accessed 20 April 2014).

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V. Pryimak, PhD, Associate Professor, V. Balan, PhD, Associate Professor Taras Shevchenko National University of Kyiv, Kyiv

CONCEPTUAL BASIS OF COMMUNICATION MANAGEMENT

The paper describes contemporary issues of organizational management, which are connected with the dynamics of communication factors' impact. The authors have summarized a role and a place of communications in the organizational management system and precised conceptual components of communication management, such as: the concept of "communication management" and its formalization based on the using of object-oriented approach, a pattern of communication management system, generic processes of organizational communication management; communicative competence structure. It was found that the functioning and effectiveness of communication management depends not only on the optimality of the main components of communication process, but also on its members and interested parties. The article gives several practical guidelines in relation to communications engineering of the main business processes, such as: organizational modeling, business communications, records management, management decision-making, project management communication and marketing communications. The authors have defined the complex of communicative competence for the specialist in communication management according to the CM-oriented paradigm of community development - a projection of specific character of communication process on the pattern of communicative competence. In summary, it was defined the need to further deepening of scientific principles and development of efficient procedures of communication management as an integral complex of standardized communication-enabled business processes, intellectual program-oriented methods and variable creative tools.

1. Gates, B. (1999), Business @ the Speed of Thought, Warner Books, New York, US.

2. Baharev, A. V. (2013), "Communication within the Company: How to Ensure their Effectiveness", available at: http://www.iteam.ru/publications/ human/section_44/article_2669/ (Accessed 10 April 2014).

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3. Grigor'eva, N. N. (2010), Kommunikacionnyj menedzhment [Communication Management], Centr distancionnyh obrazovatel'nyh tehnologij MIEMP, Moscow, Russia, available at: http://www.e-college.ru/xbooks/xbook157/book/index/ index.html (Accessed 10 April 2014).

4. Drahomyrets'ka, N. M. (2006), "A Model of Communication Management of Civil Servants", Visnyk NADU, vol. 1, pp. 115-122.

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7. Pryimak, V. M. (2012), "Model's Professional Competencies a Modern Manager", Bulletin of Taras Shevchenko National University of Kyiv, vol. 136-137, pp. 49-52.

8. Derkach, A. and Zazykin, V. (2003), Akmeologija [Akmeology], Piter, St. Petersburg, Russia.

9. Kustov, V. N. (2007), "Psycho-acmeological Characteristics of Communicative Competence of Managers of Commercial Organizations", Akmeology, vol. 2, pp. 36-44.

10. Sharkov, F. I. (2011), Kommunikologija: kommunikacionnyj konsalting [Communicology: communications consulting], Dashkov i K, Moscow, Russia.

11. Orlov, A. (2005), Vvedenie v kommunikacionnyj menedzhment [Introduction to Communication Management], Gard-ariki, Moscow, Russia.

V. Svyatnenko, PhD in Economics, Associate Professor Taras Shevchenko National University of Kyiv, Kyiv

MARKETING TECHNOLOGIES AS AN INSTRUMENT FOR EFFICIENT DEVELOPMENT

OF DOMESTIC ENTERPRISES

Difficult situation in the domestic market and prospects of European integration require domestic companies to find new effective tools for their further development, such as marketing techniques. Socio-economic and political situation of last months of 2013 and first months of 2014 in Ukraine increased a complexity of the processes of analysis and forecasting of marketing environment, especially in economic, political and international factors. Also the difficulties in creation of a clear picture of consumer preferences and implement effective marketing impact on them raised. Under these conditions, businesses need to actively use traditional and modern marketing techniques and develop the new ones.

Summarizing interpretation of the term "marketing technology", it should be noted, that different researchers gave its different evaluation: some defined it as a collection of related entities of marketing, another - as a set of steps, operations, practices and actions, the third - as a model of marketing activities, the fourth - as a system of scientific and human knowledge, and the fifth - as methods of exposure the consumer market to achieve goals.

The main characteristics of marketing techniques is the fact that they are descriptions of the marketing process, which inevitably leads to the intended result (but not guaranteed); they are scientifically sound, comprehensive, integrative process; techniques and methods, that implement marketing techniques, must be reproducible.

Development and implementation of marketing techniques have a number of features that are in targeting marketing techniques for strategic development goals; integration of marketing with the overall system management; complexity of marketing techniques; adaptability to changing conditions of the enterprise; continuity and updatable marketing technologies.

There are five main traditional marketing techniques: segmentation, targeting, positioning, analysis and forecasting. Also in the paper the attention paid to modern marketing techniques, including viral marketing, internet marketing techniques, CRM-technologies, trade marketing, integrated marketing communications, branding and rebranding, cross-marketing and others.

1. Illiashenko, S. M. (2011), "Modern Lines of Application of Internet Technologies in Marketing", Marketynh i menedzhment innovatsij, [Online], vol. 4, no. 2, pp. 64-74, available at: http://mmi.fem.sumdu.edu.ua/sites/default/ files/mmi2011_4_2_64_74.pdf (Accessed 12 June 2014).

2. Il'icheva, I. V. (2012), Marketingovye tehnologii: uchebno-metodicheskoe posobie [Marketing Techniques], UlGTU, Ul'janovsk, Russia.

3. Prychepa, I. V. (2014), "Innovation Priorities of the Formation of the Strategic Competitive Advantages of Enterprise", Efektyvna ekonomika, [Online], vol. 3, available at: http://www.economy.nayka.com.ua/?op=1&z=2868 (Accessed 12 June 2014).

4. Pro sotsial'no-ekonomichne stanovysche Ukrainy za sichen'-berezen' 2014 roku [Online], available at: http://ukrstat.org/uk/druk/soc_ek/2014/publ_03_2014_u.html (Accessed 12 June 2014).

5. Rebrikova, N. V. (2013), Tehnologija kross-marketing: teorija i praktika [Online], materialy II Mezhdunar. nauch. konf. "Problemy i perspektivy jekonomiki i upravlenija", June 2013, рр. 84-86, Renome, Sankt-Peterburg, Russia, available at: http://www.moluch.ru/conf/econ/archive/77/4027/ (Accessed 12 June 2014).

6. Selyukov, M. V., Shalygina, N. P. and Kulik, A. M. (2013), "The Role and Importance of Marketing Technologies in Increasing of Efficiency of Activity of Economic Entities", Sovremennye problemy nauki i obrazovanija, [Online], vol. 5, available at: http://www.science-education.ru/pdf/2013/5/185.pdf (Accessed 12 June 2014).

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9. Tunitskyi, N. O. (2010), "Getting the system of marketing technologies in the exercise of import transactions", Ph.D. Thesis, Economy and Management of Enterprises (by type of economic activity), Kyiv National University of Trade and Economics, Kyiv.

10. The site of National Institute for Strategic Studies (2013), Formuvannia modeli ekonomichnoho rozvytku Ukrainy u

pisliakryzovomu sviti. Analitychna dopovid' [Online], The National Institute for Strategic Studies. Analytical and Prognostic Support for the President of Ukraine, NISD, Kyiv, Ukraine, available at: http://www.niss.gov.ua/public/

File/2013_table/1218_dop.pdf (Accessed 12 June 2014).

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12. Shaleva, O. I. (2011), Elektronna komertsiia [E-commerce], Tsentr uchbovoi literatury, Kyiv, Ukraine.

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H. Ilina, PhD, Associate Professor Taras Shevchenko National University of Kyiv, Kyiv

MORAL TELEOLOGY IN ETHICAL CRITIQUE OF THE ECONOMISM

The paper revealed the moral teleology in terms of ethical critique of the economism. Responsibility as an ethical category is interpreted in terms of business ethics. The genetic relationship between the economy and morality is considered. The alternative interpretation of ideas of the economism in business ethics is identified. The influence of ethical responsibility to the formation of new styles of economic and management thinking is revealed. It is noticed that today the business is considered not only in terms of its economic parameters but also in terms of its role in the life of communities and societies. The scope of business ethics is the problem of social responsibility, which creates a new type of economic thinking and new managerial values. The ideas of the economism are not disappear from socio-economic life of person, however, we can find an alternative interpretation of ethics in business. It is presupposed that business organizations take on an ambitious mission to reduce the negative environmental impact of human activity and improving situation of people on a planetary scale, and that is important in the formation of new styles of economic and management thinking, which is the main principle responsibility. Revaluation of economism, therefore, becomes philosophical guideline of business ethics, which introduced the theme of moral teleology as the main goal of economic activity in general and in particular economic actor.

1. Apel, K.-O. (2009), Dyskurs i vidpovidal'nist", [Diskurs und Verantwortung. Das Problem des Ubergangs zur postkon-ventionellen Moral], Duc i Litera, Naukove vyd, Kyiv, Ukraine.

2. Habermas, J. (2005), "Hromadyanstvo i natsional'na identychnist'", Umovy hromadyanstva, Kyiv, pp. 49-70.

3. Giddens, A. (2011), Posledstvyya sovremennosty [The Consequences of Modernity], Izdatel'skaya i konsaltynhovaya gruppa "Praksis", Moscow, Russia.

4. Ulrich, P. (2004), Krytyka ekonomyzma [Kritik des Okonomismus], 2nd ed, Vuzovskaya knyga, Moscow, Russia.

5. Habermas, J. (2005), Postnatsyonal'naya konstellyatsyya y budushchee demokratyy [The Postnational Constallation and the Future of Democracy], in: Habermas, J. (2005), Politicheskie raboty [Political Works], Praksis, Moscow, Russia, pp. 269-340.

6. Broom, J. (2000), "Why Economics Needs Ethical Theory", available at: http://users.ox.ac.uk/~sfop0060/pdf/ Why%20economics%20needs%20ethical%20theory.pdf (Accessed 15 June 2014).

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8. De George, R. A History of Business Ethics, available at: http://www.scu.edu/ethics/practicing/focusareas/business/ conference/presentations/business-ethics-history.html (Accessed 15 June 2014).

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10. Friedman, M. The Social Responsibility of Business is to Increase its Profits, available at: http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html (Accessed 15 June 2014).

11. Scherer, A. G. (2008), "Globalization and Corporate Social Responsibility", in: The Oxford Handbook of Corporate Social Responsibility (Eds.: A. Crane, A. McWilliams, D. Matten, J. Moon, D. Siegel), Oxford University Press, Oxford.

P. Kukhta, PhD in Economics, Associate Professor Taras Shevchenko National University of Kyiv, Kyiv

CHARACTERISTICS OF MIRR METHOD IN EVALUATION OF INVESTMENT PROJECTS' EFFECTIVENESS

This scientific paper describes some aspects of the current researches' status concerning methodological tools of investment projects' evaluation based on compounding and discounted cash flow. Also there were defined some problems of its application in practical business activities. There were analyzed characteristics of the Modified Internal Rate of Return method in the evaluation of investment projects, restrictions connected with its application, advantages and disadvantages compared with indicators of the original Internal Rate of Return and Net Present Value for projects with certain baseline characteristics. There were determined the opportunities to adapt the method of Modified Internal Rate of Return to alternative computational approaches of the project cash flows evaluation. There were considered possibilities of the Modified Internal Rate of Return method in a comparative analysis of real investments, which are not comparable in scale and duration of implementation. There were expressed concerns about appropriateness of the Modified Internal Rate of Return method's wide application in project analysis to determine the attractiveness and feasibility of investment alternatives. There were outlined basic recommendations for the further research on this subject, directions to improve methods of the effectiveness of investment projects' evaluation based on cash flows' compounding.

1. Bierman, H. and Smidt, S. (2003), Kapitalovlozhenija. Jekonomicheskij analiz investicionnyh proektov [The Capital Budgeting Decision. Economic Analysis of Investment Projects], Juniti-Dana, Moscow, Russia.

2. Brigham, E. and Gapenski, L. (2004), Ю. Finansovyj menedzhment [Financial Management], part 1, Jekonomicheskaja shkola, St. Petersburg, Russia.

3. Van Horne J. C. (2005) Osnovy upravlenija finansami [Fundamentals Of Financial Management], Finansy i statistika, Moscow, Russia.

4. Vilenskij, P. L., Livshic, V. N. and Smoljak, S. A. (2002), Ocenka jeffektivnosti investicionnyh proektov: teorija i prak-tika [Evaluation of Investment Projects Effectiveness: Theory and Practice], 2nd ed, Delo, Moscow, Russia.

5. Training materials online (2014), Lectures on "Investment Analysis", available at: http://pidruchniki.com/ 10780621/investuvannya/modifikovana_vnutrishnya_norma_dohodnosti (Accessed 15 April 2014).

6. Kravchenko, S. (2003), "Justification of the Conditions to Finance Innovative Solutions", Ekonomika Ukrainy, vol. 2, pp. 41-46.

7. Kukhta, P. (2013), "Modern Computational Approaches to Investment Project Cash Flows Evaluation", Formation of Market Economy in Ukraine, vol. 29, part 1, pp. 323-329.

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8. Chervanyov, D. M., Zhylinska, O. I. and writing team (2011), Mizhdystsyplinamyj slovnyk z menedzhmentu [Interdisciplinary Dictionary of Management], Nichlava, Kyiv, Ukraine.

9. Rastiapin, A. V. (2001), "Methods of Assessing Investment Projects' Economic Efficiency", Finansy Ukrainy, vol. 2,

pp. 111-118.

10. Savchuk, V. P. (2014), "Evaluation of Investments' Effectiveness in Countries with Transition Economy", Korporativ-nij menedzhment - Teorija i praktika finansovogo analiza, investicii, menedzhment, finansy i dr., available at: http://www.cfin.ru/finanalysis/invest/invest_emerging.shtml (Accessed 15 April 2014).

11. Chervanyov, D. M. (2012), Systema innovatsijnoho menedzhmentu: teoriia i praktyka [System of innovation management: theory and practice], Vydavnycho-polihrafichnyj tsentr "Kyivs'kyj universytet", Kyiv, Ukraine.

12. Boulding, K. E. (1936), "Time and Investment", Economica. New Series, vol. 3, no. 10 (May), pp. 196-220, available at: http://www.jstor.org/stable/2549068 (Accessed 15 April 2014).

13. Brigham, E. F. and Daves P. R. (2007), Intermediate Financial Management, 9th ed., Thomson, South-Western Publish, Mason, Ohio, US.

14. Haberstock, L. (1972), "Kapitalwert oder Interner ZinsfuU? Stellungnahme zu dem Aufsatz von E. Hosterbach", Zeitschrift fur Betriebswirtschaft (ZfB), bd. 42, s. 216-218.

15. Hosterbach, E. (1972), "Kapitalwert oder Interner ZinsfuU? Gleichzeitig eine Entgegnung an L. Haberstock", Zeitschrift fur Betriebswirtschaft (ZfB), bd. 42, s. 201-216.

16. Kierulff, Herbert (2008), "MIRR: A Better Measure", Business Horizons, vol. 51, pp. 321-329.

17. Kruschwitz, L. (2011), Investitionsrechnung, 13 Auflage, Oldenbourg-Verlag, MQnchen, Germany.

18. Lin, S. A. Y. (1976), "The Modified Internal Rate of Return and Investment Criterion", The Engineering Economist, vol. 21 (4), pp. 237-247.

19. Lorie, James H. and Savage, Leonard J. (1955), "Three Problems in Rationing Capital", The Journal of Business, vol. 28, рр. 229-239.

20. Wright, C. A. (1936), "A Note on "Time and Investment'", Economica. New Series, vol. 3, no. 12 (Nov.), pp. 436-440.

M. Sytnytskyi, PhD in Economics, Associate Professor Taras Shevchenko National University of Kyiv, Kyiv

THE WAYS TO IMPROVE STRATEGIC HUMAN RESOURSE MANAGEMENT OF UKRAINIAN BANKS

The main elements and issues of strategic human resource management of banking institutions are summarized. They are the lack of many banking institutions relevant funding staff development program that reflects negatively on the training of managers and specialists; in most banking institutions level financial compensation for working time of employees is low, leading to rapid staff turnover, reduced quality of customer service and reduce the number of talented young people who in the future would be the basis of its workers; availability of strategic human resource management in banks, based on haphazard basis. I do not mean a developed system measures on incentives for scientific level managers update knowledge on the dynamics of changes in the legal framework of the profile areas, implementation of training programs fluency special bank programs, foreign languages, strengthening corporate solidarity of personnel, development of appropriate business skills and other organizational talent from banks. Presented architectonics of strategic human resource management, which consists of a set of interrelated subsystems can be used universally domestic banks to develop effective strategic management of the organization. Directions improvement of strategic human resource management of domestic banking institutions through the development of a universal system of strategic human resource management is proposed. In further research of theoretical and practical aspects of strategic human resource management systems of banks should pay attention to a detailed examination of relationships between elements of its subsystems, which can lead to the use of the process of performance management synergistic effects of different nature and content.

1. Versal, N.I. (2013), Osnovy bankivs'koho menedzhmentu [Basics of Banking Management], Fitosotsiotsentr, Kyiv, Ukraine.

2. Liutyj, I.O., Pikus, R.V., Prykaziuk, N.V., Starovojt-Bilonyk, K.I. (2010), Investytsijna diial'nist' komertsijnykh bankiv [The Investment Activities of Commercial Banks], Halyts'ka akademiia, Ivano-Frankivs'k, Ukraine.

3. Chervanyov, D. M., Zhylinska, O. I. and writing team (2011), Mizhdystsyplinarnyj slovnyk z menedzhmentu [Interdisciplinary Dictionary of Management], Nichlava, Kyiv, Ukraine.

4. Daniuk, V. M., Petiukh, V. M., Tsymbaliuk, S. O. (2004), Menedzhment personalu [The Personnel Management], Kneu, Kyiv, Ukraine.

5. The Verkhovna Rada of Ukraine (2000), The Law of Ukraine "On Banks and Banking", available at: http://zakon4.rada.gov.ua/lavs/shov/2121-14 (Accessed 07 December 2000).

6. Mischenko, V. I. (2013), Slovnyk-dovidnyk bankivs'koi terminolohii [Dictionary of Banking Terms], Tsentr naukovykh doslidzhen, Kyiv, Ukraine.

7. Rjahovska, A. N. (2012), Sovremennye podhody k upravleniju ustojchivost'ju biznesa [Current Approaches to the Management of Sustainable Business], Finansovyj universitet, Moscow, Russia.

8. Shifrin, M. (2012), "Bank no-frills", Forbes, vol. 3, pp. 140-144.

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A. Stepanova, PhD in Economics, Assistant Professor Taras Shevchenko National University of Kyiv, Kyiv

RISK DIVERSIFICATION STRATEGY OF INVESTMENT ACTIVITIES OF BUSINESS ENTITIES IN UKRAINE

The concept of diversification in terms of risk management, resulting in various forms of investments, is revealed. The development strategy of both investment strategy and portfolio management strategy is considered. The questions of investment risks minimization in the business entities in Ukraine are revealed. The system of measures and counter prediction of investment risk describes strategies that helps to minimize them through the use of diversification based on the relevant investment strategy and monitoring the implementation of managerial financial decisions in order to ensure comparison of the effectiveness of business operations of the entity with the appropriate level of investment risk. Selected investment policy of the investor and active or passive strategy (model) portfolio management is investigated. Portfolio investment theory distinguishes two types of investment strategies for portfolio management - active and passive. Active strategy (model) management is constantly monitoring the financial instruments, their timely purchase and fast rotation structure of instruments in the portfolio in case of rejection or noninvestment goals that are accepted by investors as strategic investment objectives. The purpose of the passive strategy is to provide an investor yield on average market level with maximum investment protections against adverse environmental changes that may be caused by non-market factors. Selection of the optimal portfolio structure is a balanced combination of indicators such as profitability, liquidity and riskiness. Different strategic models are called to provide such a choice. Diversification of securities underlying construct portfolios provides various options for combinations of securities with diverse dynamics of movement returns. This can happen in the industry, regions and different issuers. Future directions of scientific and practical research that lie in the development and implementation of methods for analyzing and evaluating investment risks is defined, risk maps of the investment environment in Ukraine and systematic provision of risk information to state authorities are developed.

1. Babak, O. (2012), "Financial Risks and Basic Techniques of Neutralization", available at: http://www.vuzlib.net/ er/_index.htm (Accessed 10 April 2014).

2. Betford, H. (2011), "Effective Risk Management - a Survival Tool for Banks", Ukraine Business Review, vol. 44, рр. 3-26.

3. Hlibchuk, V. M. (2010), "Simulation and Optimization of Investment Risks in Enterprises under Uncertainty", Instytut menedzhmentu ta ekonomiky "Halyts'ka akademiia", vol. 1, рр. 263-269.

4. Hluschevs'kyj, V. V. (2009), "The Methodological Foundations of the Concept of Risk Management Entrepreneurship", Finance Ukraine, vol. 10, рр. 57-72.

5. Zakharin, S. (2010) "Financial Instruments Stimulate Investment and Innovation Activities", Economy of Ukraine, vol. 12, рр. 48-54.

6. Kirichenko, O. A. and Yevrohin, S. (2009), Investuvannia: pidruch. [Investing: textbooks], Znannia, Kyiv, Ukraine.

7. Mayorova, T. V. (2009), Investytsijna diial'nist': pidruch. [Investing: textbooks], Tsentr uchbovoi literatury, Kyiv, Ukraine.

8. Mishkin, Frederic S. (1998), Ekonomika hroshej bankivs'koi spravy i finansovykh rynkiv [The Economics of Money Banking and Financial Markets], Osnovy, Kyiv, Ukraine.

9. Sazonets', I. L. and Fedorova, V. A. (2011), Investuvannia: pidruch. [Investing: textbooks], Tsentr uchbovoi literatury, Kyiv, Ukraine.

10. Sots, B. B. and Tymkiv, A. O. (2008), "Organizational Support Investment Risk -bank Management", Finance Ukraine, vol. 12, рр. 97-116.

11. Stewart, Charles (2008), "Beyond regret management", The Banker, October, рp. 148-150.

I. Gorbas', PhD in Economics, Assistant Professor Taras Shevchenko National University of Kyiv, Kyiv

DIVERSIFICATION OF ENTERPRISES AT THE DOMESTIC CERAMIC TILE MARKET: ORGANIZATIONAL AND MANAGERIAL ASPECTS

The paper is devoted to the methodological support of management of domestic enterprises' joint activities in the market. The main forms of enterprises' cooperation in market of building ceramics are considered. Discovered that most manufacturers of ceramic tiles focus on vertical integration that implements the concept of the traditional supply chain.

The organizational aspects of some diversified structures operating in the domestic building ceramics' market are revealed. Offered that diversification makes through vertical and horizontal integration. Also the methodological principles of diversified enterprises' management based on system approach are exposed. Shown that one of the diversified companies' management tools is forming of the integrated logistic system; it covers the full cycle of production through vertical and horizontal integration. This interaction between participants makes it possible to increase the efficiency of enterprises through diversification.

Coordination instruments of strategic business units' of diversified companies and their uses in domestic market are revealed. The modern directions and forms of organizational and management innovations, which are used by diversified enterprises operating in the domestic market are disclosed.

1. Balan, V. G. (2012), "Comparative Analysis of the Company's' Strategic Business Units Attractiveness", Problemy nauky, vol. 2, pp. 28-33 (ukr).

2. Heorhiadi, N. H. (2009), Intehrovani systemy upravlinnia ekonomichnym rozvytkom mashynobudivnykh pidpryiemstv [Integrated Management Systems of Engineering Enterprises' Economic Development], Vydavnytstvo Natsional'noho uni-versytetu "L'vivs'ka politekhnika", L'viv, Ukraine.

3. Gorbas', I. M. (2013), "Management of Diversified Enterprises in the Building Ceramics Market", Ph.D. Thesis, Economy and Management of Enterprises (by the types of economic activity), Taras Shevchenko National University of Kyiv, Kyiv, Ukraine.

4. Ivanov, D. (2006), Strategicheskaja kooperacija [Strategic Cooperation], Vershina, Moscow, Russia.

5. Kyzym, M. O. Ponomarenko, V. S. Horbatov, V. M. and Yastrems'ka, O. M. (2010), Intehrovani struktury biznesu: problemy teorii ta praktyky otsiniuvannia konkurentospromozhnosti [Integrated Business Structure: Problems of Theory and Practice of Competitiveness Evaluation], VD "INZhEK", Kharkiv, Ukraine.

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6. Pryjmak, V. M. (2010), "Forms of Organizational Transformation of Business Structures", Teoretychni ta prykladni py-tannia ekonomiky, vol. 23, pp. 154-166 (ukr).

7. Simenko, I. V. (2009), Yakist' system upravlinnia pidpryiemstvamy: metodolohiia, orhanizatsiia, praktyka [The Quality of Management Systems of Enterprises: Methodology, Organization, Practice], DonNUET, Donets'k, Ukraine.

8. Smerichevs'kyj, S. F. (2008), Zv'iazano-dyversyfikovani systemy pidpryiemstv: henezys, modeliuvannia ta stratehichnyj analiz [Linked-diversified Systems of Enterprise: Genesis, Design and Strategic Analysis], VIK, Don DUU, Donets'k, Ukraine.

9. Harrison, A. and Van Houk, R. (2007), Upravlenie logistikoj. Razrabotka strategij logisticheskih operacij [Logistics Management. Develop Strategies for Logistics Operations], Balans Biznes Buks, Dnepropetrovsk, Ukraine.

10. Jakutin, Ju. V. (2009), Integrirovannye korporativnye struktury v rynochnoj jekonomike Rossii [Integrated Corporate Structures in Russian Market Economy], Vol'noe jekonomicheskoe obshhestvo Rossii, Moscow, Russia.

О. Davydova, PhD in Economics, Assistant Professor Taras Shevchenko National University of Kyiv, Kyiv

THE WAYS OF IMPROVING THE GOVERNMENTAL REGULATION OF TOURISM ACTIVITY IN UKRAINE

The article defines the role of the tourism industry in the formation of gross domestic product. The basic directions of state regulation of tourism in Ukraine are highlighted, namely: legal, economic, social and information sphere. The usage of investment tax credit is offered in order to stimulate the development of recreation organizations in the country and to create conditions for the development of public-private partnerships through building up the strategies for the development of touristic clusters. It was found that one of the main tools of territorial development is to promote tourism brand of the country, which is based on creating a positive image through tourism information component. It was proposed to update the web page of the The State Agency of Ukraine for Tourism and Resorts and to create a metrical rating in web for local tour operators with which it can be analyzed the degree of representation of touristic activities in the Internet. Attention is drawn to the social component: the feasibility of cooperation with institutions of higher education, training, skills development, raising the qualification of personnel, support and recognition of the social status of tourist activity in the country by providing state prizes, competitions and establishment of honorary titles in the field of tourism, promoting the rights and interests of domestic touristic enterprises on domestic and international touristic market. It is mentioned that perspective types of tourism in Ukraine are child, family, green and business tourism.

1. The official site of Ukraine for Tourism and Resorts (2011), Derzhavne ahentstvo z turyzmu i kurortiv Ukrainy, available at: http://www.tourism.gov.ua (Accessed 10 March 2014).

2. Kmit', V. M. and Buhil' M. M. (2011), "Investment Tax Credit as a Basis of Stimulation of Investment and Innovation in the Enterprises", Formuvannia rynkovoi ekonomiky v Ukraini, vol. 23, pp. 314-320.

3. Kotova, I. M. (2004), "Improving the Development of Regional Investment Programs", Materialy Mizhnarodnoi nauko-voi konferentsii [Conference Proceedings of the International Scientific Conference], Stan i problemy transformatsii finansiv ta ekonomiky rehioniv u perekhidnyj period [State and Problems of Transformation of Finance and Economy of Regions in Transition], Khmel'nyts'kyj, Ukraine.

4. Levochkina, N. A. (2012), "Travel Brands Territory: the Structure and Features", Rossiiskoe predprinimatel’stvo, [Online], vol. 20 (218). pp. 152-158, available at: http://tourlib.net/statti_tourism/levochkina.htm (Accessed 4 Aug 2012).

5. Liubitseva, O. O. (2002), Rynok turystychnykh posluh [Tourism Market], Al'tapres, Kyiv, Ukraine, available at: http://tourlib.net/books_ukr/lubiceva_rtp11.htm (Accessed 3 May 2014).

6. Mal's'ka, M. P., Pandiak, I. H. and Zan'ko, Yu. S. (2011), Orhanizatsiia hotel'noho obsluhovuvannia [The Organization of Hotel Service], Znannia, Kyiv, Ukraine.

7. Mel'nychenko, S. V. (2008), "Information Technologies in the Management of Tourism Activity Subjects", Ph.D. Thesis, Economy and Management of Enterprises, Kyiv National University of Trade and Economics, Kyiv, Ukraine.

8. Neporozhnij, Yu. O. and Kornieieva, R. V. (2008), "Directions of Tourism Development at the Regional and Local

Levels", Ekonomichnyj prostir, vol. 11, pp. 42-50, available at: http://archive.nbuv.gov.ua/portal/Soc_Gum/

Ekpr/2008_11/neporozh.pdf (Accessed 3 May 2014).

9. (2010), Priorytety reformuvannia podatkovoi polityky Ukrainy: iak perejty vid fiskalizmu do stymuliuvannia dilovoi ak-

tyvnosti? [Priorities for Reform of Tax Policy in Ukraine: How to Move from Fiskalizmu to Stimulate Business Activity?], National Institute for Strategic Studies, Kyiv, Ukraine, available at: http://old.niss.gov.ua/book/

Zhalilo_podatkova/Zalilo_podatkova.pdf (Accessed 3 May 2014).

10. The Verkhovna Rada of Ukraine (1998), The Law of Ukraine "On Amending Some Laws of Ukraine to Support Scientific and Technical Activities", available at: http://zakon4.rada.gov.ua/laws/show/2404-17 (Accessed 5 March 2013).

11. Pshyk, B. I. (2005), Investytsijne kredytuvannia [Investment Lending], Lviv, Ukraine.

12. Tour.com.ua (2009), "Rating the Best Tourist Slogans in the World", available at: http://www.tourua.com/ru/tournews/info-43331.html (Accessed 5 March 2014).

13. Stechenko, D. M. and Horodyns'kyj, H. O. (2011), "Infrastructure Provision of Recreation and Tourism of Nature in the Chernihiv Region", Naukovyj visnyk Chernihivs'koho derzhavnoho instytutu ekonomiky i upravlinnia. Seriia "Eko-nomika", vol. 1 (9), pp. 5-11.

14. Bahnet (2013), "Ukraine for Guests", available at: http://www.bagnet.org/news/tourism/204314 (Accessed 3 May 2014).

15. Shaptala, O. S. (2003), Avtonomna respublika Krym: problemni pytannia derzhavnoho upravlinnia sferoiu rekreatsi-jnoho obsluhovuvannia [Crimea: Challenges of Public Administration Sphere Recreational Services], Odessa Regional Institute for Public Administration, Odessa, Ukraine.

16. Romanova, L. and Serdyukova, N. (2014), "Promoting Sochi as a Tourist Destination in the Post-Olympic Period", European Journal of Physical Education and Sport, vol. 1, pp. 68-75.

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I. Netreba, PhD in Economics, Assistant Professor Taras Shevchenko National University of Kyiv, Kyiv

THEORETICAL APPROACHES TO THE DEFINITION OF THE "INFORMATION RESOURCE"

In the paper the theoretical principles of formation and use of information resources in the enterprise is revealed. The study found that there are many approaches to the definition of the term "resource". All the basic concepts of the approach is "data" and "information." Tha paper summarizes the features of information resources used in the business. The necessity of improvement of information technology as a medium of exchange of technical information resources in the enterprise is considered. It is established that many researchers consider important to the development of management information support through the creation, implementation and development of software. It is proved the existence of four theoretical approaches to the definition of "information resources": (1) management approach, according to which information resources are the basis of forward and backward linkages between the management and the controlled subsystem management; (2) communication approach means a qualitative evaluation of the importance of internal and external data to ensure effective communication between the factors of internal environment and relationships with the external environment; (3) Technical Approach - involves the need for improvement and development of hardware and software management information system in the enterprise; (4) The economic approach, according to which the resource is quantitatively measured as a factor of production, which plays a key role in shaping consumer for goods and services. To determine the importance of information in the process of creating goods and services, the author proposed to use the indicator "share information resources in enterprise resource provision." This figure is calculated as the ratio of expedient information resources that provide management of production or non-production processes to the sum of all the material resources presented in monetary value. Category "information resources" includes expenditure budget for the creation and use of management information system for the components of direct costs, which is reflected technical component.

1. Parkhomenko, V. D. (2007), "Naukovi i orhanizatsijni problemy upravlinnia informatsijnymy resursamy", Naukovo-tekhnichna informatsiia, vol. 3, pp. 31-36 (ukr).

2. Sytnyk, V. F. (2004), Systemy pidtrymky pryjniattia rishen' [Decision Support Systems], KNEU, Kyiv, Ukraine.

3. Kozyrev, A. A. (2000), Ynformatsyonnye tekhnolohyy v ekonomyke y upravlenyy [Information Technology in Economics and Management], Yzd-vo Mykhajlova V. A., St. Petersburg, Russia.

4. Huzhva, V. M. (2001), Informatsijni systemy i tekhnolohii na pidpryiemstvakh [Information systems and technology on business], KNEU, Kyiv, Ukraine.

5. Hodyn, V. V. and Korneev, Y. K. (2001), Ynformatsyonnoe obespechenye upravlencheskoj deiatel'nosty [Information Support of Management Activities], Vysshaia shkola, Moscow, Russia.

6. Shul'ha, O. V. (2010), "Vprovadzhennia informatsijnykh system upravlinnia vyrobnytstvom iak faktor efektyvnoho funktsionuvannia pidpryiemstva", Visnyk natsional'noho tekhnichnoho universytetu KhPI, vol. 61, pp. 130-132 (ukr).

7. Shvets, Y. B. and Buriak, V. V. (2005), "Evaluating the effectiveness of information systems in the management of information resources", Naukovi pratsi Donets'koho natsional'noho tekhnichnoho universytetu. Seriia: Ekonomichna, vol. 97, pp. 11-20 (rus).

8. Denysenko, M. P., Holubieva, T. S. and Kolos, I. V. (2009), "Informatsijne zabezpechennia innovatsijno-investytsijnoi diial'nosti pidpryiemstva", Menedzhment ta pidpryiemnytstvo v Ukraini: etapy stanovlennia i problemy rozvytku, vol. 647, pp. 43-49 (ukr).

9. Kablak, M. I. (2010), "Informatsijna skladova v protsesakh upravlinnia i pryjniattia rishen'", AhroInKom, vol. 1 (3), pp. 55-57 (ukr).

10. Sharova, K. Y. (2011), "Znanye kak ekonomycheskaia katehoryia", Ekonomyka y upravlenye, vol. 4, pp. 23-27 (rus).

11. Netreba, I. O. (2011), "The Process Approach to Introduction of Information Management Systems in the Mechanical Engineering", Visnyk Kyivs'koho natsional'noho universytetu imeni Tarasa Shevchenka. Seriia: Ekonomika, vol. 121-122, pp. 116-119.

12. Netreba, I. O. (2013), "The Introduction of Promoted of Innovative Activity at the Industrial Enterprise", Visnyk Kyivs'koho natsional'noho universytetu imeni Tarasa Shevchenka. Seriia: Ekonomika, vol. 145, pp. 55-56.

A. Masliukivska, PhD Student, Assistant Professor Taras Shevchenko National University of Kyiv, Kyiv

THE CHARACTERISTICS OF THE DAIRY MARKET OF UKRAINE IN TERMS OF THE MARKETING APPROACH

The dairy industry is one of the leading industries in the structure of the economy of Ukraine. Milk as one of the basic food is an important part of a healthy diet and the priority items in the consumer basket. In Ukraine the cost of purchasing these goods account for about 17 % of food spending. The consumption and production of milk are at a low level, as compared with the established national standards and compared to other countries. In view of this it can be argued that the dairy market is quite attractive and promising for dairy enterprises.

Now in Ukraine there are about 350 milk processing enterprises, 80 of which made up 90 % of dairy products. Employees with families are a target segment of most dairy enterprises. Great competition exists on coverage of the middle class, so to win this market should actively use marketing techniques and actions. Consumers with high incomes are the most attractive to producers, but still are small in size: the share of these goods in the market is 5-7 °%. Given the high level of competition in general, companies try to retain their position in the domestic market, mainly due to wide sales network (58,2 %), the quality of products and competitive prices (57,1 %).

1. Vasyl'chak, S. V. (2004), "Segmentation of the Milk Market and the Problem of Increasing the Quality of Dairy Products", Naukovyy visnyk UDLU, vol. 14.7, pp. 325-330.

2. Vol's'ka, O. M. (2013), "Current Status and Prospects of the Milk Market and Milk Products in Ukraine", [Online], available at: http://www.confcontact.com/2013-kachestvo-economichnogo-rozvitku/5_volska.htm (Accessed 12 June 2014).

3. The official site of State Statistics Services of Ukraine (2014), available at: www.ukrstat.gov.ua (Accessed 12 June 2014).

4. Maslak, O. (2013), "The vulnerability of the dairy industry", Ahrobiznes s'ohodni, vol. 5 (228), pp. 12-14.

5. The official site of AgroTimes (2013), "Dairy Alliance for the Year will Invest in Their Own Development 60 Million UAH", [Online], available at: http://www.agrotimes.net/predpriyatiya/molochnyy-alyans-za-god-investiruet-v-sobstvennoe-razvitie-60-mln-grn (Accessed 12 June 2014).

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6. The official site of Union of Dairy Enterprisesof Ukraine (2014), available at: http://molsouz.org.ua/ (Accessed 12 June 2014).

7. The official site of Association "Ukrainian Agribusiness Club", UCAB (2014), available at: http://ucab.ua/en/pro_ukab/ (Accessed 12 June 2014).

8. The official site of Ukrainian Agrarian Confederation (2014), "Livestock Production of Ukraine: Renewal 2013", [Online], available at: http://agroconf.org/content/tvarinnictvo-ukrayini-pozhvavlennya-2013 (Accessed 12 June 2014).

I. Prylutska, PhD Student, Assistant Professor Taras Shevchenko National University of Kiev

THE INTERACTION BETWEEN INSTITUTIONAL ENVIRONMENT AND INNOVATIVE ENTREPRENEURSHIP IN UKRAINE

The integration into the European Union can't be without the perception of European values and criteria of economic and social progress. There is a need for developing a new approach to setting objectives and factors of economic development. This approach needs a reassessment of the place and role of innovative sphere in economic and social processes, such as the transition to innovative development of the economy, shifting the center of innovation in socio-economic system. The institutionalization of innovative sphere means transforming intentions entities to create an enabling environment for innovation. This means an implementation of relevant rules and regulations through the mechanisms of economic and legal regulatory authorities' activities. Poor institutional support of innovative activity in Ukraine caused by the weakness of formal institutions (property rights, intellectual property protection, financial market sophistication, technological equipment of the level of higher education and vocational education, the independence of the judiciary, government and public institutions), the imperfection of informal institutions (public confidence in the power level of public culture, the availability of human capital) and the presence of institutional traps (power, property, corruption, shadow economy). Formal institutions are the legal registration of spontaneously active informal rules (norms) caused the economic system be more stable and progressive in the economies of developed countries.

The aim of the paper is to study the interaction between the institutional environment and innovative entrepreneurship in Ukraine, factors that influence its development and isolation of the most influential institutions in the development of innovative entrepreneurship in Ukraine.

1. Hodgson, D. (2003), Ekonomicheskaya teoriya i instytuty: manifest sovremennoi instytutsionalnoi ekonomicheskoi te-orii [Economics and Institutions: a Manifesto of Modern Institutional Economics], Delo, Moscow, Russia.

2. Schumpeter, J. (2007), Teoriya ekonomicheskogo razvytiya. Kapytalyzm, sotsyalyzm і democratiya [Theory of Economic Development. Capitalism, Socialism and Democracy], Exmo, Moscow, Russia.

3. Pleskatch, V. L. and Zatonatska, T. G. (2008), Informatsiyny tehnologii na pidpryemstvah [Information Systems and Technology firms], Znannya, Kyiv, Ukraine.

4. The Verkhovna Rada of Ukraine (2002), The Law of Ukraine "On innovation activity", available at: http://zakon2.rada.gov.ua/laws/show/40-15 (Accessed 10 September 2008).

5. Dikan, N. V. and Borisenko I. I., (2008), Managment [Management], Znanny, Kyiv, Ukraine.

6. Ukraine Business Law, (2005) Textbook, by the Society. eds. prof. N. A. Saniahmetovoyi, Odyssey, Kharkiv, Ukraine.

7. Institutional Foundations of the Economic System of Ukraine: Theory and Practice (2005), ed. Q. Vatamanyuk, New World -2000, Lviv, Ukraine.

8. (2011), Innovatsijna polityka: Yevropejs'kyj dosvid i rekomendatsii dlia Ukrainy [Innovation policy: European experiences and recommendations for Ukraine], Feniks, Kyiv, Ukraine, vol. 3: Innovations in Ukraine (Project, 19 October 2011), available at: http://kneu.edu.ua/userfiles/our_partners/gudrun/3_UA.pdf (Accessed 24 December 2013).

A. Vikulova, PhD Student Taras Shevchenko National University of Kiev

PATENT "PARASITES" OF DEVELOPMENT INNOVATION

This paper examines the activities of patent trolls in the transition to a postindustrial society. The study determines the need to manage the results of intellectual activity in connection with the intensification of innovation and strengthening the innovation orientation of modern economics. The paper determined the impact of patent trolling for development innovative. The study analyzes dynamics of patent lawsuits in the largest high-tech companies in the world over the past five years. Considerable attention is paid to the peculiarities of patent trolling in Ukraine. This scientific paper gives a description of significant indirect losses of the patent trolls, such as violation of the innovative climate of the organization; shrinking market share, due to the departure of some business customers; reduction and distortion of the organization of the innovation process; a significant increase in domestic and mixed innovation risks; numerous delays and temporary suspension of business processes; change products and general business areas, and in some cases, and closing a business. The paper defines the role of patent trolls in the structure of financing innovation and analyses global instruments to combat patent trolling.

1. Bell, D. (1967), "Notes on Post-Industrial Society", The Public Interest, vol. 7, p. 102.

2. Bazilevich, V. D. (2014), Intelektual'na vlasnist', 3rd ed.. Znannja, Kyiv, Ukraine.

3. Elias, S. and Stim, R. (2004), Patent, Copyright and Trademark: an Intellectual Property Desk, Bercley, p. 113.

4. (1911), Columbia Motor Car Co. et al. v. C.A. Duerr & Co. et al., 184 F. 893.

5. Beatty, J. and Samuelson, S. (2012), Business Law and Legal Environment, Mason, Texas, US, p. 1064.

6. The Atlantic (2012), "Study: Patent Trolls Cost Companies $29 Billion Last Year" [Online], available at: http://www.theatlantic.com/technology/archive/2012/06/study-patent-trolls-cost-companies-29-billion-last-year/259070/ (Accessed 15 May 2014).

7. Patent Freedom (2014), "Most Pursued Companies" [Online], available at: https://www.patentfreedom.com/about-npes/pursued/ (Accessed 15 May 2014).

8. TechHive (2013), "Apple is the Company most Target by Patent Trolls" [Online], available at: http://www.techhive.com/ article/2047549/apple-now-is-thecompany-most-targeted-by-patent-trolls.html (Accessed 15 May 2014).

9. The White House President Barack Obama (2013), "Patent assertion and U.S. innovation 2013: Executive Office of the President" [Online], available at: http://www.whitehouse.gov/sites/default/files/docs/patent_report.pdf (Accessed 15 May 2014).

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10. Habrahabr (2013), Novaja Zelandija zapretila softvernye patenty [Online], available at: http://habrahabr.ru/ post/191780/ (Accessed 15 May 2014).

11. Oficijnij veb-sajt zhurnalu Intelektual'na vlasnist' (2013), Patentni vijni dijshli do Ukrai'ni? [Online], available at: http://www.intelvlas.com.ua/2011-05-20-15-20-36/12788-patentni-viiny-diishly-do-ukrainy.html (Accessed 15 May 2014).

12. Congressional Budget Office (2013), The Innovation Act of 2013 [Online], available at: http://www.cbo.gov/ sites/default/files/cbofiles/attachments/3309_0.pdf (Accessed 15 May 2014).

V. Gontiuk, PhD Student Taras Shevchenko National University of Kiev

MODEL OF STAFFING FORMATION IN THE STATE STATISTICS SERVICE OF UKRAINE

The paper developed a model of staffing formation in the organization. The model provides the goals and objectives setting, information collection and processing, staff analysis, determination of staffing requirements, development and implementation a plan of staffing formation.

The information collection and processing is a guarantee of quality analysis.

Author analyzed the gender, age and education staff characteristics, work experience, job categories, staff training, staff movement and enrollment personnel reserve in the State Statistics Service of Ukraine.

After staff analysis is necessary to make a decision about optimal staff number, their composition and reserve.

The staffing requirements determining is a basis of staffing formation plan. This plan considers human resources features of the organization and focuses on the routine tasks and general goals implementation. The development of a plan provides the staff planning, training needs of staff, professional promotion and personnel reserve.

Author argues that personnel control is a regular process of forming the final phase of staffing. The model of staffing formation considers the optimal staff composition adapted to changes in the internal and external environment.

This study provides the measures to implement a plan of staffing formation in the State Statistics Service of Ukraine. The mentioned measures carry out: the redistribution of the staff composition; the recruitment with using rotation mechanism; the opportunities for professional development and training; the guarantee of promotion transparency based on a combination of personal and professional skills; the adaptation and career planning; the mechanism of pre-selection to include prospective staff reserve.

1. Balabanyuk, Zh. M. "Analysis of Staff Movement in the Organization", Efektyvna ekonomika, available at: http://www.economy.nayka.com.ua/?op=1&z=650 (Accessed 2 April 2014).

2. Bilorus, T. (2012), "Labor Potential of Ukraine: Current State and Development Prospect", Visnyk Kyyivs'koho natsional'noho universytetu imeni Tarasa Shevchenka, "Ekonomika", vol. 137, pp. 42-45.

3. Vodnik, V. (2009), "Structure of the Social and Psychological Climate of Collective, Regulating and Formation Ways", Byuleten, vol. 5, pp. 36-70.

4. Hrishnova, O. A. and Naumova, O. O. (2005), "Evaluation of Staff: Current Approaches to Ensure the Effectiveness", Formuvannya rynkovoyi ekonomiky: upravlinnya personalom v orhanizatsiyakh, vol. 2, pp. 42-50.

5. Zatyeyshchykova, O. O. (2010), "Development Strategy Formation and Use of Management Personnel", Abstract of Ph.D. dissertation, Naukovo-doslldniy tsentr Industrlalnih problem rozvitku, Kharkiv, Ukraine.

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7. "Information about Number and Quality of Staff in the State Statistics Service of Ukraine", The State Statistics Service of Ukraine, available at: http://www.ukrstat.gov.ua (Accessed 2 April 2014).

8. ' 'Information about Quality of Individuals, that Enrolled in Personnel Reserve in the Regional Statistics Service of Ukraine", The State Statistics Service of Ukraine, available at: http://www.ukrstat.gov.ua (Accessed 2 April 2014).

9. Kybanov, A. Ya. (2005), Upravlenye personalom orhanyzatsyy, [HR Management of the Organization], YNFRA-M, Moscow, Russia.

10. Mel'nyk, E. S. (2011), "Personnel Scheduling Problem in the Enterprises", Aktual'nye voprosy ekonomycheskykh nauk: materyaly Mezhdunarodnoy nauchnoy konferentsii [Topical Issues of Economic Sciences: Materials of the International Scientific Conference], Ufa, pp. 113-115.

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13. Haslinda, A. (2009), "Evolving Terms of Human Resource Management and Development", The Journal of International Social Research, vol. 2/9, pp. 180-186.

14. Senuycel, Z. (2009), Managing the Human Resource in the 21st Century, Ventus Publishing ApS.

O. Melnychuk, PhD Student Taras Shevchenko National University of Kiev

E-COMMERCE DEVELOPMENT IN THE STRUCTURE OF THE INFORMATION ECONOMY OF UKRAINE

The paper examines theoretical and practical aspects of emerging information economy in Ukraine thus contributing to the studies of P. Drucker, A. Toffler, F. Machlup, M. Castells and M. Porat who investigated general aspects of the information society. The study elucidates the essence of concepts of "information society", "information economy", "information and communication technologies", "e-commerce". Main trends are highlighted in establishment of the e-commerce market in Ukraine. Major problems are identified in development of ICT and e-commerce in the country. The study puts forward a draft of key recommendations for a further advance of the information economy and e-commerce market. A package of measures is suggested to improve the situation and processes in the market of electronic commerce, which comprises: stimulation of the investment flows in ICT development (by providing tax credits), implementation of the law: "On electronic commerce", encouragement of expansion of innovation activities.

1. Bezuglaya, L. A. (2013), Jelektronnyj biznes kak bazovyj institut informacionnoj jekonomiki [Electronic Business as Basic Institute Information Economy], Journal of Economic Regulation, vol. 1, part 4, рр. 69-79.

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ВІСНИК Київського національного університету імені Тараса Шевченка ISSN 1728-3817

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3. Pleskach, V. L. and Zatonac'ka, T. G. (2007), Elektronna komercija [E-commerce], Publishing Company "Znannja", Kyiv, Ukraine.

4. Kostina, A. V. (2009), Tendencii razvitija kul'tury informacionnogo obshhestva: analiz sovremennyh informacionnyh i postindustrial'nyh koncepcij [Tendencies of Information Society Culture Development: Analysis of Contemporary Information and Postindustrial Conceptions], Znanie. Ponimanie. Umenie [Online], vol. 4, available at: http://www.zpu-journal.ru/e-zpu/2009/4/Kostina_Information_Society/ (Accessed 15 April 2014).

5. Maslov, A. O. (2012), Teorija informacijnoi' ekonomiky jak al'ternatyvna paradygma suchasnij ortodoksii' [Theory of the Information Economy as an Alternative Paradigm of Modern Orthodoxy], Paradyhmal'ni zrushennia v ekonomichnij teorii ХХ st., materialy Mizhnarodnoi naukovoi konferentsii [Conference Proceedings of the International Scientific Conference], 15-16 November 2012, Taras Shevchenko National University of Kyiv, Kyiv, Ukraine, рр. 115-119 (ukr), available at: http://econom.univ.kiev.ua/paradigm_et/conf_materials.pdf (Accessed 15 April 2014).

6. Pleskach, V. L. (2006), Formuvannja rynku informacijnyh poslug v Ukrai'ni [Formation of Market Information Services in Ukraine], doctoral dissertation, Naukovo-doslidnyj finansovyjinstytut pry Ministerstvi finansiv Ukrainy, Kyiv, Ukraine.

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I. Orobets, PhD Student Taras Shevchenko National University of Kiev

HISTORICAL AND GENETIC RESEARCH APPROACH TO EVOLUTION OF THE CONCEPT

OF SUSTAINABLE DEVELOPMENT

The historical and genetic approach is used to examine main stages of evolution of the concept of sustainable development. The study typifies economic suppositions that formed theoretical essentials of the concept. T. Malthus' principle of population pioneered in elucidating an impact of human factor on environment. A. Marshall put forward economic science as an independent discipline - Economics, which aims at studying lifestyle, activities and human thought under influence of surrounding, where nature plays the most important role. V. Vernadskyi's concept of noosphere encourages integration of mankind in its coevolution of man and nature, and achievement of "the state of global equilibrium", which founders of the Club of Rome suggest in "The Limits to Growth". Theories of economic growth highlight main factors of growth and significance of "new combinations " (J. Schumpeter) to solve global problems. A number of UN conferences show particular contribution of international organization in supporting the concept of sustainable development: the Stockholm Declaration (1972), "Our Common Future" (1987), "Agenda 21" (1992), MDG (2000), "The future we want" (2012). The paper identifies ways to achieve sustainable development, proposed by P. Rogers et al. The research outcomes demonstrate the major consequences for obtaining of sustainable development to preserve environment for future generations.

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15. Rogers, P. (2006), An Introduction to Sustainable Development, Harvard University Press.