The main trends in the development of machine-building enterprises in Ukraine are studied. The research proves that large and medium-sized machine-building enterprises sell more products, and the level of profitability of their activities is higher than that of small enterprises. These trends are due, in particular, to the fact that large and medium-sized machine-building enterprises could provide greater funding for the production and development of technical and technological processes, the creation of research units and diversification of markets through international trade and more. A decrease in investment in the development of domestic machine-building industries and a decrease in the share of machine building in investment financing of the industrial sector of the economy are revealed. The paper specifies that in recent years, international corporations, which have established their subsidiaries and production units in Ukraine, have started to play a significant role in the structure of machine-building industries. The share of TNCs in machine-building industries is determined. In particular, the paper shows that in 2020, about 18 subsidiaries of well-known world manufacturers of machine-building products were active, producing 10.45% of sold machine-building products in Ukraine. Such companies involved 10.32% of mechanical engineering workers in general, and the wage bill was 12.45%. The production specialization of machine-building TNCs is outlined. These are mostly intermediate manufacturers engaged in the manufacture of individual components for leading automotive companies. The research emphasizes that the vast majority of machine-building TNCs in Ukraine operate on tolling schemes. Foreign companies are the consumers of TNCs' final products. Accordingly, the share of such products in the Ukrainian export of mechanical engineering is also quite high. This primarily applies to the production of electrical machines (subgroup 85). The expediency of the development of domestic industries to strengthen their competitive position in domestic and foreign markets is emphasized.
machine building industry, corporations, multinational companies, investments, tolling
The paper addresses the major scientific approaches of European and Ukrainian researchers to the interpretation of the cross-border area concept. It defines the main features and attributes of cross-border areas by each of the approaches. The author classifies main approaches to the delineation of cross-border areas by their features and attributes, focusing on administrative, institutional, political, and functional components, the intensity of cooperation, the difference in the levels of socio-economic development of adjoining border areas, common geographical, historical, cultural, or economic features or opportunities, and the features of functioning of the territories’ socio-economic development elements (changes in the number of population of areas within the 30-minute drive to the border or existing or prospective impacts of urban center located at the border or divided by the border), simple belonging to adjoining administrative-territorial units, etc. The paper provides examples of the functioning of cross-border areas by the analyzed approaches to their definition and types determined based on the conducted classification. Special attention is paid to the functional approach to the delineation of cross-border areas as the most common in foreign practice. The approach stipulates the delineation of cross-border areas by the strength of various types of links between the cross-border cooperation participants regardless of the size of the area they are located at, the size of the administrative-territorial unit they are the part of, or the availability of institutional environment. The reasonability of the application of approaches used by European researchers to delineate cross-border areas in Ukrainian realities is verified.
The paper substantiates the approaches to improving the mechanisms of economic-environmental regulation in Ukraine in current management conditions with the focus on the taxation tools based on evaluation of European experience in implementing the polluter pays principle. The author argues that environmental tax generates over 6% of all tax revenues in the EU Member States at the 0.56% rate in Ukraine. The insignificant role of environmental tax in the system of taxation fails to stimulate the environmentally friendly activity of economic entities, while the funds from environmental tax fail to cover state expenditures on environmental protection. The situation needs changes in terms of improving the environmentalization of the tax system in Ukraine with the increase of the share of environmental tax in the total tax revenues to the European level and simultaneous decline in tax burden by other types of taxes to avoid the growth of the tax burden on economic entities. The suggested scheme of environmental transformation of the tax system in Ukraine stipulates the following: increasing the share of environmental taxes and bringing it up to 6% of tax revenues; simultaneous reduction of the corporate income tax by the appropriate amount. Meanwhile, the environmental tax revenues should be increased by over 10 times, in the first place by bringing the rates of the tax on carbon dioxide emissions from stationary sources closer to global rates ($ 10-15 per ton) to secure about a half of environmental tax revenues. It should include fuel and transport taxes with the rates that can secure revenues in the amount of about UAH 10 billion. Other environmental taxes should be increased 5 times. The proportions of environmental tax revenues division between general and specific funds of budgets with gradual increase of the share of specific nature protection funds revenues are offered.
The paper is devoted to deepening the academic basics using forecasting modeling methods to determine the predictors of enterprises’ success. A startup as a form of entrepreneurship is important today due to the ability to maintain the sustainability of the economic system through a flexible response to challenges. The startup’s potential for receiving external, direct venture financing from other economic counterparties is important forits sustainable development and success. The empirical study puts forward two hypotheses. The first one is that successful startups have common features, which are the factors in obtaining venture financing, i.e. predictors of success. The second hypothesis is a continuation of the first one and requires testing the importance of information representation and clarity of future startup results among venture investors, in particular through the information available about the startup’s activity over the Internet. The empirical study is based on data sets about startups in Ukraine over the last decade. The simulation is performed with logit models developed by the authors. The calculation allows us to confirm the identification of factors of direct influence on the startup’s success according to the built models. The ability to obtain venture capital is one of the startup’s characteristics. The logit model is used as the research tool to determine the relevant factors for defining the positive decision of venture investors to provide startup funding. Predictors of obtaining external funding are identified and considered as the prerequisites for the startup’s success in general. According to the research results,the presence of previous investors, the startup’s profit orientation, the startup’s website, and availability of information about its activity in the social network are the important factors for receiving external financing by a startup. Thepaper argues that the startup’s focus on the public good without profit orientation does not stimulate venture investors. Two periods of the startup founding are singled out among the influence signs in deciding whether a startup will receive external financing: before 2014 and after it. The recognizability of a startup became the determining factor for venture financing after 2014 due to the information provided through the Internet. Until 2014, the relationship with large corporations’ clients had been the most important feature for a startup with external venture financing.
venture financing, logit model, predictors, public goods, business management
The article analyzes the main trends in the global market of mechanical engineering, in particular, in the branches of agricultural engineering, mechanical engineering for light industry, construction and road engineering, and energy engineering. It also addresses the structure and development trends of the mechanical engineering market by regions, changes in the business environment of the mechanical engineering industry, the impact of the Covid-19 pandemic on the state and development of the global mechanical engineering market, new rules and requirements for manufacturers of mechanical engineering products, and technological innovations and trends. Mechanical engineering companies today are at the epicenter of technological transformation. The mechanical engineering industry creates individual digital capabilities and intelligently combined products. Innovative processes such as related production, forecast service and innovative service models are increasingly used in mechanical engineering. The use of modern digital technologies in mechanical engineering is becoming a necessity that prevents the risks of losing relevance in the market of modern industry. Although the basic principles of mechanical engineering, such as thermodynamics, fluid mechanics and machine design, still remain in force, the latest technologies are contributing to the rapid development of composites, mechatronics and nanotechnology. These new subject areas, which are the result of modern achievements, have become a prerequisite for the development of new and promising industries, including artificial intelligence and biomechatronics. The growing demand for increased production efficiency while minimizing operating costs has led to demand for new and innovative technologies. Based on the study of the introduction of new technologies in mechanical engineering and global trends in the industry, the author substantiates the feasibility of accepting the need for globalization in mechanical engineering as a new norm, taking into account costs, tax consequences, quality and delivery in planning the existing geographical location, supply chains, strategic partnerships; reduction of the general supply cycle for better adaptation to the changing environment; optimization of existing production facilities, automation and attraction of advanced digital technologies for the establishment of work processes; implementation of advanced technologies in mechanical engineering, such as artificial intelligence, Internet of Things, nanoengineering, advanced data analytics, automation of robotic processes, blockchain, robotics, cloud computing augmented reality, 3D printing, drones, 5G, etc.; raising the qualification level of mechanical engineering workers.
mechanical engineering, construction and road mechanical engineering, energy mechacnical engineering, agricultural mechanical engineering, mechanical engineering for light industry, technological innovations
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