ФІНАНСОВІ МЕХАНІЗМИ ЗАБЕЗПЕЧЕННЯ РОЗВИТКУ ПІДПРИЄМСТВ АГРАРНОГО СЕКТОРУ ЕКОНОМІКИ: ОСОБЛИВОСТІ ТА НЕДОЛІКИ

In the globalized business world, financial information security management (FISM) and corporate risk management (CRM) have become critical elements for ensuring business sustainability and gaining a competitive advantage. The security of financial information not only protects the financial integrity of businesses but also supports long-term success by enhancing reputation management, regulatory compliance, and stakeholder trust. However, the necessity of addressing the relationship between financial information security and corporate risk management within a holistic framework has not been sufficiently emphasized in the literature, especially with the increasing threats in cybersecurity. This gap creates uncertainties regarding how businesses should integrate financial information security into their risk management strategies. The purpose of this study is to analyze the interaction between financial information security management and corporate risk management and to provide a practical and applicable framework for integrating financial information security into business risk management strategies. The study examines how financial information security management is integrated into corporate risk management processes (risk identification, assessment, response, and monitoring) and its impact on organizational performance (cost reduction, efficiency improvement, and competitive advantage). Considering major financial crises and cyberattacks, the global impact of financial information security threats on businesses, national economies, and the global financial system is increasingly being discussed. In this context, the study highlights the critical importance of FISM and CRM for businesses and presents concrete examples of the risks that may arise if these two concepts are not considered together (data breaches, financial losses, reputational damage, legal sanctions). The study systematically reviews existing approaches in the literature (such as ISO 27001 and the NIST Cybersecurity Framework) to contribute to the development of effective financial security and risk management policies for businesses.This study employs qualitative research methods, including a literature review and expert opinions. By analyzing current studies and industry reports, the relationship between financial information security and corporate risk management is examined in depth.In conclusion, integrating financial information security management with effective corporate risk management policies plays a crucial role in enhancing business sustainability, gaining a competitive advantage, and reducing costs. Businesses must adopt a holistic management approach that incorporates cybersecurity measures, financial risks, and regulatory requirements. This comprehensive approach is essential for ensuring long-term success and maintaining a competitive edge in today's dynamic business environment.

The paper describes concept of "enterprise’ financial security" in modern conditions and compares the main approaches to its definition taking into account the complex nature of this economic category (from the point of view of the object of paramount attention, the task of the security system and the criterions of security). The authors identified two approaches to understanding the financial security of the enterprise: the first approach, which considers financial security in terms of the enterprise’ ability to withstand the threats of the internal and external environment; the second approach determines the enterprise’ financial security as the ability of the enterprise to perform its activities effectively in an uncertain and competitive environment. In addition, the study identified the essence of enterprise’ financial security management, its purpose, objectives, functions, principles, mechanism and basic elements of management. In the course of the research it was found that the most important in the enterprise’ financial security management is to built adequate mechanism of financial security management. The authors define such mechanism, as a set of basic influence’ elements on the process of development and implementation of management decisions to ensure the protection of his financial interests against various threats. Moreover, the authors investigated the systems of enterprise’ financial security analysis, which allow to investigate the financial condition and main results of financial activity of the enterprise in order to determine the level of protection of his financial interests from threats and identify the reserves for its improvement. The system of integral analysis was defined as the system that gives the most solid conclusions about the state of financial security. The main reason for this is that above mentioned system allows to conduct a deeper financial analysis, to evaluate the main areas of financial activity of the enterprise and to aggregate the obtained data into one indicator. Keywords: enterprise's economic security, enterprise's financial security, mechanism of the enterprise`s financial security, management of the enterprise`s financial security.

Introduction. Investment activity is a key prerequisite for the sustainable development of agricultural enterprises, since it is it that ensures the renewal of the material and technical base, the introduction of innovative technologies, increasing labour productivity and competitiveness of the agricultural sector. In the context of structural transformations of the national economy, military risks, climate change and deepening European integration processes, investments acquire a system-forming significance, performing the function of the financial and technological basis of reproductive processes and the adaptation of agricultural production to the growing instability of the external environment. Methods. General scientific and special methods were used in the research process, in particular analysis and synthesis – to generalize theoretical approaches to the investment activity of agricultural enterprises. Comparative methods, economic and statistical and were used to assess the state, dynamics and problems of investment processes in the agricultural sector. Systemic, structural and functional approaches were used to substantiate the directions of activating the investment activity of agricultural enterprises. Results. It was established that the investment activity of agricultural enterprises in Ukraine is influenced by a set of financial, risk and institutional constraints that hinder the modernization of production and the introduction of innovations. It is proven that insufficient access to long-term financial resources, high military and climate risks, as well as limited effectiveness of state support reduce investment activity and the effectiveness of reproductive processes in the agricultural sector. The feasibility of implementing a comprehensive policy of activating investment activity, which combines financial incentives, agricultural insurance, investments in digital technologies and human capital development, is substantiated. It is determined that the coordinated attraction of public, private and international investments creates the prerequisites for increasing productivity, economic sustainability and competitiveness of agricultural enterprises in the long term. Discussion. Prospects for further research should be linked to the assessment of the effectiveness of state and international support instruments for investment activities of agricultural enterprises in the context of war and post-war recovery. An important direction is the development of economic and mathematical models for investment risk management, taking into account climatic, financial and security factors. Special attention should be paid to studying the role of digital investments and investments in human capital in increasing the sustainability and competitiveness of agricultural enterprises in the long term. Keywords: investment activity, agricultural enterprises, agricultural sector, investment risks, state support, modernization of production, digital technologies, human capital, competitiveness, sustainable development, geoinformation systems, sustainable development.

The purpose of the research is to establish the characteristic features and signs, the inherent mechanism and strategies of managing financial and economic security, which should be used by domestic enterprises in the war period and in the post-war recovery period in the conditions of the development of Industry 4.0 trends in the realities of the BANI world. Defects in the organization and functioning of the financial and economic security management mechanism were identified, which began to be clearly investigated during the work of business entities in wartime conditions. Additional elements of the financial and economic security management mechanism of the enterprise in the conditions of Industry 4.0 and BANI World are proposed. The peculiarities of the strategy and mechanism of managing the financial and economic security of enterprises in various models of the world system are specified. The outline of the GUARDIAN strategy for the implementation of the tasks of strategic management of the financial and economic security of enterprises was developed and the expediency of its use in the realities of Industry 4.0 and BANI World was substantiated.The development of a new paradigm of strategic management of financial and economic security for the post-war recovery of business entities in the conditions of BANI World, taking into account the trends of the Fourth Industrial Revolution, allows expanding the limits of the application of the tools of effective security-oriented management. In order to successfully optimize traditional approaches to financial and economic security management in the post-war period, it is necessary to transform the financial and economic security management mechanism to ensure its readiness to counteract the impact on the enterprise's corporate resources from the threat of military aggression, global pandemics, the development of the trend of Industry 4.0 and BANI world.

Abstract. Introduction. The question of the expediency of regulating insurance relations in a transition economy can arise only if the world experience is ignored. Another thing is that the forms and methods, the degree of distribution, the details of such regulation differ depending on the characteristics of the country, the degree of its economic development, national traditions, integration into the world community and other characteristics. To improve the quality of insurance for agricultural producers, it is necessary to form a systematic approach to its development. Agricultural production is a sector of the economy with the highest risk of losses from production and economic activities, because the final result of agricultural production depends not only on compliance with production technology, but also depends on the impact of risks not related to the production process. Purpose. To study the vision of domestic scientists and foreign experience of effective organization in insurance of agricultural producers, which will formulate proposals for improving the quality in insurance of agricultural producers in Ukraine. Prove the feasibility of state participation as one of the main participants in agricultural insurance. Conclusions. To improve the quality of insurance for agricultural producers, it is necessary to form a systematic approach to its development. The systems approach should take into account the interaction between the participants in the insurance process of this area: the state, insurers and agricultural producers. The leading place in the system, based on capabilities and interests, should be occupied by the state, which through the implementation of state policy to support agricultural insurance, should ensure the interconnection of interests of the system and unite their efforts to achieve the system. The current state of development in the agricultural insurance system dictates the need to form a systematic approach to its development, which provides for the definition and legislative design forms of interaction between the three main participants in agricultural insurance - agricultural producers, insurance companies and the state. Therefore, the development of agricultural insurance is impossible without significant state support. Important areas are also - the perfection of information, voluntary participation in insurance, the development of insurance against certain risks. Thus, the main task, in our opinion, is the interest in this type of insurers’ insurance, policyholders and the state.

Personal fulfilment, financial security, flexibility, relationships, information, rules - these are all hallmarks of entrepreneurship. Furthermore, one more important factor should be added to the list, which enables satisfaction resulting from reliable income and self-fulfillment: this is openness. An open mind to changes, to novelties, and to the workforce is necessary. The central question of the present research is how to effectively develop Hungarian small and medium-sized agricultural enterprises, especially in the Transdanubian region, by utilizing these factors. In addition to production, institutional and price risks, agricultural enterprises, like other sectors, are also affected by massive labour shortages and resource-intensive development objectives. In the research, primary agricultural producers, micro, small and medium-sized enterprises were surveyed through questionnaire in the second and third quarters of 2019. Using the snowball method, both the development opportunities and the risks were mapped in this sector, mostly among growers. The research results show that there is a correlation between satisfaction and development and favorable workplace relationships. These correlations were presented by demonstrating the relationship between technological development, income satisfaction, stable job creation, and the need to try new developments. However, there seems to be an invisible boundary to development in the examined field, which may stem from uncertainty, and yet, it is important to maintain development and learning activity so that the right knowledge and know-how is available to the business when needed. Since the results show that there is a lack of openness to new technologies among the farmers in the studied region, and this may pose a problem in the future in terms of meeting the expectations of precision farming, it is recommended to focus on innovation in the agricultural sector in Hungary.

Based on panel data from 30 provinces in China from 2005 to 2020, this paper analyzes the impact and mechanism of the level of agricultural insurance (AI) coverage on the urban-rural consumption gap (URCG). The study finds: (1) Long-term development of AI can promote the narrowing of URCG. (2) Regional heterogeneity tests reveal that the impact of AI on URCG is particularly significant in eastern regions but weak in central and western regions. (3) From the perspective of intermediary effects, accelerating urbanization (UR) is an important mechanism for AI to narrow URCG and enhance economic quality and efficiency. (4) Based on the threshold effect of fiscal support for agriculture on the level of AI and URCG, it is found that when fiscal support for agriculture is moderate, the development of AI is conducive to narrowing URCG. However, during periods of excessive fiscal support for agriculture, the role of AI in narrowing URCG is not significant. If fiscal support for agriculture continues to increase, the development of AI may even widen the consumption gap between urban and rural areas.

Based on the provincial panel data from 2008 to 2019, this paper constructs a mediating effect model to analyze the impact of China’s agricultural insurance development on the nutritional status of rural residents theoretically and empirically. This study found that agricultural insurance significantly affects the nutritional status of rural residents through two mediators: increased income level and the regional crop diversity. Meanwhile, regional heterogeneity exists in the impact of agricultural insurance on the nutritional status of rural residents. Overall, this paper argues that agricultural insurance should be one of the tools to improve the nutritional status of rural residents in China. Specifically, the design and implementation process of policy-based agricultural insurance should put the nutritional health of rural residents and their complex impact into consideration. Therefore, this paper suggests that even though agricultural insurance can facilitate rural residents’ income stability and generation, relevant stakeholders also need to draw awareness, popularize the importance of nutrition and health, and optimize the supply structure of agricultural products.

The methodological and practical recommendations for applying a conceptual approach to forming an effective mechanism for managing financial security at business enterprises under conditions of economic recovery are substantiated. Despite the existence of some proposals for forming effective mechanisms for managing financial security at the level of market participants, the practice of implementing and arranging their components by stages and distribution by functional performers is a matter of active discussion in academic circles. The ontological content of the scientific category “financial security of enterprise” at the macro and micro levels is generalized. The author focuses on the need to consider the enterprise's financial security as an integral management system with an internal structure, elemental composition and feedback components. The components of the enterprise financial security management system are specified. The author's own interpretation of the essence of the concept of “enterprise's financial security management mechanism” as a set of tools and levers of influence on managerial decision-making in the field of ensuring an appropriate level of protection of vital financial interests of a market entity from challenges and threats of the external environment is proposed. The stages of forming a financial security mechanism at business enterprises are recommended, including: analysis of the enterprise's current status, development of a strategy to overcome the identified risks, implementing measures, monitoring and evaluating the implemented measures. At the conceptual level, the author's version of the mechanism for managing financial security of the business enterprise with the appropriate support tools (financial instruments, financial levers, financial methods and indicators, information and analytical subsystem) and four key components (organizational, methodological, technological and financial) is proposed. Promising directions for improving the organizational support of the financial security management mechanism at business enterprises with the assignment of responsible managers and specification of the timeframe for implementing measures are identified. The expediency of distributing responsibility among the specialists for the financial subsystem at business enterprises is substantiated.

Farmers need state support and subsidies due to the seasonality of agricultural production, the existence of a time gap between the costs incurred and the production results, the dependence of agricultural production on natural climatic conditions. At the same time, a large amount of subsidies and a huge number of benefits don't always ensure the profitability of agricultural activities and have a negative impact on the activities of agricultural enterprises. According to some researchers, subsidies are more beneficial to wealthy owners of large tracts of land than to farms. Government support programs block market mechanisms and cause economic damage, in particular contributing to inefficient land use and overproduction. The purpose of the article is to analyze the effectiveness of state support for agricultural enterprises. The study used methods of analysis, comparison, generalization and synthesis.As a result of the analysis, it was found that despite state incentive programs to support domestic agricultural producers, the efficiency of agricultural enterprises shows a negative trend in reducing profitability. Among the main problems of state support for agricultural enterprises, we can highlight the insufficient level of subsidization of producers, problems with the receipt of budgetary funds and insufficient information support of farmers about existing state support programs. Many researchers also highlight other problems of the state support system, such as duplication of existing programs, lack of economic effect and difficult access of small and medium-sized enterprises to support programs. In order to improve the profitability of agricultural enterprises, it is important to ensure effective control over the implementation of state support programs, to improve existing subsidy mechanisms and to increase the access of small and medium agricultural enterprises to state programs.

The article studies practical aspects of implementing risk management in agro-industrial enterprises in modern conditions. It is determined that agro-industrial production plays a strategic role in the country's economy, ensuring food security, jobs, rural development, and foreign exchange earnings. It is established that adaptive risk management in agro-industrial production is an integral part of the effective functioning of enterprises in modern conditions. Growing climatic, economic, and geopolitical threats require agribusiness to implement modern approaches to forecasting and minimizing risks. It is proven that risk management's practical implementation is based on innovative technologies, such as precision agriculture, automation of production processes, digital analysis, and monitoring systems. Financial risk management mechanisms, particularly agricultural insurance, hedging, and state compensation programs are essential. It is substantiated that adaptive strategies, particularly diversification of production, use of sustainable agricultural technologies, and optimization of logistics processes, can significantly increase a business's resilience to external challenges. It is confirmed that state support and international programs play a key role in developing effective risk management. Thanks to access to preferential financing, technological support, and educational initiatives, agro-industrial enterprises can implement more effective risk management mechanisms. Therefore, implementing an integrated approach to risk management allows agro-industrial enterprises to protect themselves from negative impacts and increase competitiveness, ensuring the stability of the agricultural sector and the country's food security.

The article presents the results of research of ways to improve the mechanism of support of Russian agricultural enterprises by the state. The purpose of the study is to identify and evaluate the advantages of improving the state support of agricultural enterprises in the context of the introduction of the digital ruble. The research methods include content analysis, synthesis, generalization, classification, comparison, regulatory method, statistical method. Despite the achievement of some results in the implementation of import substitution programs under the conditions of anti-Russian sanctions, Russia still has dependence on imported goods, which dictates the need to implement various state programs for the development of agriculture, including a variety of support measures. The results of the efficiency audit conducted by the Accounts Chamber indicate the presence of inefficient use of budget funds, illegal provision of subsidies and grants to agricultural producers, including with signs of damage to the economic interests of the state. To solve these problems, the article suggests the use of blockchain technology and the digital ruble as control tools when using budget funds by recipients of state support in the agricultural sector. This proposal will provide the following benefits for the state: it will simplify the procedure for tracking the use of budget funds, since the history of transactions with each digital ruble is recorded and taken into account; it will reduce the percentage of operational errors and the role of the human factor in the execution of transactions; it will reduce unnecessary document flow. To introduce the digital ruble into the budget process when receiving state support for agricultural producers, it is necessary to change the relevant legislation; improve information systems and processes; conducting large-scale explanatory work in the field of the advantages of using the digital ruble with the business community and citizens, with agricultural producers already receiving state support, as well as participating in public procurement.

Progress in the field of information and communication technology is a source of advantage that improves quality of business services; increases productivity levels and brings competitive advantage to enterprises and organisations related to agricultural production. However, the use of information and communication technology (ICT) is connected with information security risks that threaten business continuity and information assets. The ICT in small and medium-sized enterprises (SME) and agricultural enterprises is the source of several advantages as well as the risks resulting from information security violation and security incidents. This paper aims at the current situation of information security in SME and agricultural enterprises. Furthermore, the paper provides results of a survey focusing on identification and evaluation of the effects of internal and external factors affecting existence of risks in information security in Slovak SME and agricultural enterprises. Until now, there had not been a similar survey carried out.

As the most active field in China’s economic development, the digital economy is crucial to the high-quality development of enterprises. Taking Chinese-listed agricultural enterprises as research samples, this paper discusses the effect of the digital economy on promoting the high-quality development of agricultural enterprises and the mechanism behind it from the perspective of total factor productivity of enterprises. The study found that the digital economy significantly promoted the improvement of total factor productivity of agricultural enterprises and enabled the high-quality development of agricultural enterprises, and this conclusion remained valid after controlling for endogeneity and conducting robustness tests. In terms of action mechanisms, the digital economy is conducive to promoting green innovation and promoting the high-quality development of agricultural enterprises; However, entrepreneurial activity has a masking effect. Further analysis shows that the digital economy plays a more significant role in promoting non-resource-intensive agricultural enterprises located in northern China. At the same time, the higher the industrial structure and financial development level of the region, the more positive impact the digital economy can play. This study verifies the impact mechanism of the digital economy on the high-quality development of agricultural enterprises and provides enlightenment for China’s the digital economy policy-making and enterprises’ the high-quality development strategy decision-making.

The subject of the research. The study focuses on the theoretical and practical aspects of the problems facing State support for small and medium-sized enterprises in Ukraine. The purpose of the article is to identify the main destructive factors in the development of medium and small enterprises and to identify ways to overcome them. The methodological basis of the article is general scientific and special methods of scientific knowledge, such as dialectical method, analysis, grouping of data, problem-oriented approach. Results of work. The article discusses the special role of medium- and small-scale enterprises in generating GDP, creating jobs and improving the demographic situation. It is noted that a significant proportion of enterprises either operate in the shadow sector or do not take measures to improve profitability. It has been hypothesized that an important reason for this state of affairs is imperfect state support for small and medium-sized enterprises. First of all, there is a heavy tax burden, low wages in the sector, unstable legislation. The worldwide coronavirus pandemic has also been noted as an additional challenge, with most small and medium-sized businesses on the verge of survival through quarantine activities. The field of application of results. The materials, results and conclusions of the article may be used in the activities of various public organizations and local self-government bodies as an analytical basis for appeals about the need for State support for small and medium-sized enterprises, Training of specialists in secondary and higher education. Conclusions. Small and medium-sized businesses are the driving force behind the economy. It provides a large share of GDP, promotes the development of the middle class and has a positive impact on demographic indicators. The opportunity and ability of small and medium-sized enterprises to develop, even under difficult political and economic conditions, proves that it is these entities that support the economy in difficult times. Creating an enabling environment for doing business and developing small and medium-sized enterprises should therefore be a priority for the Government. To this end, support programs must be put in place: infotrmation, financial security and social support. Active and targeted support for the development of small and medium-sized enterprises contributes to the growth of GDP and the creation of new jobs.