Use of time indices while evaluating enterprises’ economic security

Despite vast research has been carried out and a great number of approaches are available to assess the economic security of enterprises, currently a range of security-related issues are yet beyond the research agenda, thus triggering a need for their thorough investigation and interpretation, in particular this refers to a contradictedness concept underpinned by the inverse relationship between its level (state) and a management decision which can be effective subject to certain economic indicators. The purpose of this study is to develop theoretical and methodological approaches to assess the enterprise economic security with due regard to management decisions effectiveness. To attain the research objectives, the following research methods have been employed: generalization – to draw conclusions from a primary sources content analysis, analysis and synthesis – to provide deeper understanding of the key research categories along with specifying the economic security indicators. The study suggests an ambivalent approach to the perception of management decisions. Using the example of a decision made as to the implementation of an investment project, it is demonstrated that, in contrast to the existing approaches (in which it is viewed as an anti-crisis measure and a tool to boost the level of economic security), in fact, the project may be effective from the position of enhancing the key economic indicators, however it will fail from the perspective of increasing the level of economic security. In this context, the indicators of the investment project economic efficiency have been updated with a focus towards enhancing the enterprise economic security. The study presents an algorithm to test the investment feasibility together with evaluating its impact on the level and the state of the enterprise economic security. The authors also provide a classification of effects from management decisions aimed at increasing the level of economic security. In addition to the above, a chain modeling algorithm is proposed to assess the state of economic security taking into account the rate of change in reaching by security indicators (and its individual elements) their liminal values. The use of this algorithm allows to predict the effects of multiple alternatives in management decision-making on the state of the enterprise economic security. An improved brute force methodological approach applied to investing in processes (projects) to ensure the enterprise economic security provides for a more balanced approach when making appropriate management decisions. The proposals made have important practical implications since they expand the management analytics capabilities and allow to consider the effects from management decisions on the enterprise economic security.

The purpose of the article is to develop a methodological approach towards assessing the economic security of institutions of higher education. Methodology. There has been generalized the experience of foreign universities in terms of providing high standards of educational and research process in the context of ensuring their economic security in modern conditions. The study has been conducted on the comparison of aggregate indicators of the economic security of HEIs based on the results of factor analysis (the method of the main components). The output data are formed taking into account the main approaches to constructing a balanced system of indicators based on the results of cluster analysis. The integral indicators of economic security of HEIs and integral indicators of economic security in general have been calculated based on the values of factor loadings and weighting coefficients of indicators for each group. Results. The system of performance indicators of the world leading universities has been formed and the key factors of economic security of foreign universities have been identified taking into account the generalized experience of foreign universities. The developed methodological approach to the assessment is universal and provides opportunities for developing measures to improve the level of economic security of institutions of higher education. Studies have shown that the economic security of economic entities is not least determined by the management efficiency of intellectual resources. Practical implications. The calculated level of HEI economic security is an indicator not only for protecting it from threats but also for the causal link between socio-economic development of the state, its economic potential and the level of higher education. Value/originality. The holistic scientific and practical study has been carried out in the article taking into account the interconnection of higher education and economic security of institutions of higher education and a methodical approach to the evaluation of the economic security of HEIs has been developed. The above stipulates the necessity of developing a methodological approach to assessing the risks to the economic security of institutions of higher education on the basis of possible threats to their activities.

В будь-якій країні обсяг оборонних витрат залежить від рівня воєнної та економічної безпеки держави. Тобто, щоб адекватно відреагувати на зміни стану воєнно-економічної безпеки країни необхідно оцінити її рівень з урахуванням ресурсних можливостей держави на час оцінювання, та тільки після цього приймати рішення щодо частки збільшення, або зменшення оборонних витрат країни. Побудова шкали оцінювання рівня воєнно-економічної безпеки, яка дозволяє дослідити чутливість отриманої оцінки рівня воєнно-економічної безпеки держави до зміни вхідних даних та підвищити стабільність прийнятих рішень за цією оцінкою є актуальним та необхідним завданням сьогодення. В статті шкалу оцінювання рівня воєнно-економічної безпеки пропонується задавати на основі нечітко-множинної математичної моделі. Використання нечітко-множинної математичної моделі для побудови шкали оцінювання рівня воєнно-економічної безпеки, надасть можливість оперувати частковими нечіткими показниками оцінок за складовими показників ресурсного забезпечення воєнно-економічної безпеки держави з метою можливості дослідження питань аналізу чутливості отриманої оцінки рівня воєнно-економічної безпеки держави до зміни вхідних даних та підвищення стабільності прийнятих рішень відповідно до цієї оцінки.

The article considers the main approaches of the theory of economic security. The concepts of "ensuring economic security", "managing economic security", "regulating the economic security of the region" are studied. The impacts affecting the adaptive readiness of the regional economic security complex, reflected in the concepts of "threat", "risk", "factor", "challenge" are noted. The expediency of a multi-vector approach to the organization of regulatory impacts of state and municipal government bodies aimed at ensuring the economic security of the country's regions in the context of overcoming modern threats is determined. A thesis is formulated about the place of regulation of regional economic security as an integral link between the systemic federal level of national security and heterogeneous regions of the country. Using the example of Perm Krai, the dynamics of the main indicators of regional economic security and their relationship with similar indicators of the Volga Federal District and the Russian Federation are considered, and an assessment of existing trends is carried out. The analysis of the elaboration of regulatory and legal documents of the Perm Territory using the extrapolation method of processing official statistics information has established the insufficiency of the measures taken to improve strategic planning in the region in the context of taking into account changing factors and conditions of the external environment. Significant deviations of the achieved results in ensuring the economic security of the Perm Territory from the forecast values approved by the strategic planning documents have been revealed, in particular in achieving the planned indicators in the areas of industrial and environmental safety of the region. It is proposed to revise the content of regulatory documents with the corresponding budget and resource content for the timely adaptation of the region to modern threats and challenges. It is recommended to pay special attention to such areas of economic security of the Perm Territory as: technological sovereignty, investment security and environmental protection.

The article focuses on the need to balance the interests of efficiency and security 
 of the external economic activity of the Astrakhan region in terms of fierce international competi-tion. The importance of studying the external economic activity of the region is explained by the strategic importance of a borderline geopolitical position of the region. There have been formulated the hypotheses about the positive and negative statistical dependence between socio-economic factors of the region development and resulting figures of external trade of the region; the correlation coefficients between them are defined and interpreted. On the basis of correlation and regression analysis, a statistically significant relationship between the factors of external economic activity and of economic security of the Astrakhan region has been established. There are considered four stages of correlation and regression analysis of the external economic activity in ensuring the economic security of the region: determining the dependence of foreign trade on indicators of economic security in the Astrakhan region; determining the relationship between the volume of exports and indicators of economic security of the region; determining the dependence of the volume of imports on indicators of economic security of the region; determining the relationship between the trade balance and the economic security indicators of the Astrakhan region. The results of the correlation analysis are verified and confirmed by means of the determination coefficient, the value of Fisher F-curve, Student t-test and the standard error indicator. As a result, it has been proposed to use the industrial production index as an indicator of the state of efficiency and security of external economic activity of the region. Correlation and regression analysis was performed using Excel spreadsheets, graphical interpretations of the regression analysis are presented, the result matrix 
 of the regression analysis of the trade balance of the Astrakhan region is presented.

В современных условиях экономическая безопасность страны стала главным атрибутом всеобщего внимания. Связано это с событием, произошедшим 24 февраля 2022 г., — началом специальной военной операции на Украине, которая продолжается до сих пор. Присоединение ДНР, ЛНР и Запорожской областей только усугубило ситуацию и увеличило давление стран Запада и ЕС на Россию. Российская Федерация подверглась огромному количеству санкций со стороны Запада и ЕС в целом, что достаточно сильно повлияло на экономическую безопасность страны. Очень большое влияние санкции оказали и на основные показатели экономической безопасности России. Все ответные меры, предпринимаемые Российской Федерацией для отстаивания своих границ, сказываются не только на странах Запада, на которые направлены данные санкции, но и на саму Россию, а также на показатели экономической безопасности. Прогнозирование на годы вперёд достаточно тяжёлое, так как неизвестно даже ближайшее будущее. Прогнозы, которые дают аналитики и экономисты достаточно противоречивы, что естественно в современных реалиях. На некоторые показатели разброс настолько огромен, что сложно даже предположить, что ждёт Россию и её экономическую безопасность. В данной статье мы рассмотрим показатели экономической безопасности Российской Федерации за прошедший 2021 г., прогнозы на окончание 2022 г., а также плановые показатели на 2023—2025 гг. После рассмотрения текущих и плановых показателей дадим свою оценку и видение ситуации, а также свои выводы по данным прогнозам. Таким образом, несмотря на всё давление, оказываемое на Российскую Федерацию странами Запада и ЕС в целом, Россия старается сделать всё для поддержания высокого уровня экономической безопасности, находя выходы из, казалось бы, безвыходных ситуаций. In modern conditions, the economic security of the country has become the main attribute of everyone’s attention. This is due to the event that took place on February 24, 2022 — the start of a special military operation in Ukraine, which is still ongoing. With the accession of the DPR, LPR and Zaporozhye regions, the situation was only aggravated by the pressure of Western countries and the EU on Russia. The Russian Federation was subjected to a huge number of sanctions from the West and the EU as a whole, which had a rather strong impact on the economic security of the country. The sanctions also had a great impact on the main indicators of Russia’s economic security. All retaliatory measures taken by the Russian Federation to defend its borders affect not only the Western countries that are targeted by these sanctions, but also Russia itself and economic security indicators. Forecasting for the coming years is quite difficult, since even the near future is unknown. The forecasts given by analysts and economists are quite contradictory, which is natural in modern realities. For some indicators, the spread of indicatorsisso huge that it is even difficult to imagine what awaits Russia and the country’s economic security. In this article, we consider the economic security indicators of the Russian Federation forthe past 2021, forecastsforthe end of 2022, as well as planned indicators for 2023—2025. After reviewing the current and planned indicators, we give our assessment and vision of the situation, as well as our conclusions based on these forecasts. Thus, despite all the pressure exerted on the Russian Federation by Western countries and the EU as a whole, Russia istrying to do everything to maintain a high level of economic security, finding ways out of seemingly hopeless situations.

The purpose of this paper is to conduct a comprehensive study of economic security in the EU Member States and Ukraine, to identify differences and to propose targeted policy interventions based on these differences. Methodology. The study uses a quantitative strategy that assigns numerical ratings to countries based on their performance against predefined thresholds for various economic security indicators. These indicators include industrial security, demographic security, energy security, foreign trade security, investment and innovation security, macroeconomic security, food security, social security and financial security. The study uses data from a variety of sources and applies a ranking system to reflect the level of economic security in each category. Results. The analysis revealed significant differences in the levels of economic security between EU Member States and Ukraine. The main findings include differences in agricultural efficiency, healthcare system efficiency, renewable energy consumption, trade balance, research and development expenditure, and socio-economic factors. For example, countries such as Belgium and Ireland have high yields, while Cyprus and Romania have much lower yields. Life expectancy and the quality of healthcare also vary: Spain and Sweden lead the way, while Bulgaria and Ukraine lag behind. Practical implications. The findings suggest the need for targeted policies and technological advances to improve economic security. For the younger generation, marketing strategies based on brand equity and exclusivity can continue even during economic downturns. For the older generation, strategies that focus on value for money or lower prices may be more effective. Understanding these metrics can help businesses align their strategies with national economic priorities and identify potential areas for investment and growth. Value / Оriginality. This study contributes to the existing literature by providing a detailed comparative analysis of economic security in the EU Member States and Ukraine, filling a gap in the understanding of the multifaceted aspects of economic security in these regions.

This article describes the procedure and provides a list of main stages of determining the integral indicator of economic security of state information, describes an innovative security indicator of economic information. It was determined which main components of the innovation and information economy segment of the country are the most influential on the general state of industry. On the basis of defined integral innovative indicator of security of economic information and set of indeces of innovative information industry, a multifaceted regressive model was developed, on which we can make a prognostication of investigated indicator for a specific period of time. A set of dynamics was formed, to which trend analysis to determine trends equation was applied, by which the predicted values of indicators of innovative and information industry were found. Using scenario-based approach three versions of prognostication of the integral indicator of economic information security of the state for 2020 were made.

Introduction. Effective business in today's conditions requires the formation of a progressive methodology that will manage and predict the development of all areas of business entities. The main objective of the study is the development and implementation of a universal assessment model and ensuring a high level of economic security from the impact of internal and external threats. Methods. The methods of analysis, deduction, abstraction and analogy are used to reveal and construct the interconnections between elements of the enterprise's value management, the components of economic security and the basic processes of enterprise activity. As a result, an integrated indicator of economic security of the company is formed on the basis of modeling and formalization method. Results. The economic added value (EVA) methodology was analyzed and the enterprise value management factors were identified. The interrelation of the allocated values factors and economic safety’s resource-functional components is justified. A set of factors for assessing the value of an enterprise and the level of safety of resource-functional components of economic security is grouped. A criterion for assessing the enterprise’s economic security has been developed and proposed. As a result, a model of enterprise management is constructed, with the help of which both the level of economic security and the value of the enterprise are assessed and managed simultaneously. Discussion. Prospects for further research are aimed at improving the methodology for calculating the integral indicator of economic security. The study of the factors and indicators influence on the level of economic security for different ownership forms and management forms.

Due to a number of external uncontrolled factors of negative influence, Ukrainian business entities functioning in the hospitality and tourism business have seen the most severe crisis and depression over the past three years. In order to survive in such conditions and develop the business intensively, Ukrainian business entities must clearly define internal problematic aspects to correct them promptly, as well as the potential opportunities towards which the maximum effort should be directed. The article offers and justifies an approach to assessing the financial and economic security of hospitality and tourism business entities in the complex modern conditions under which the Ukrainian economy is developing. In order to achieve the research goal, the methods of systematization, grouping, and logical generalization were applied.The article systematizes the key aspects of ensuring the financial and economic security for the company's activities that should be followed by its management, describes the structure of an enterprise's financial and economic security, and formulates the concept of financial and economic security for business entities in hospitality and tourism. The paper also specifies the sequence of stages, which would be advisable to follow when managing the financial and economic security of hospitality and tourism enterprises. The authors have summarized the approaches to assessing an enterprise's financial and economic security in modern literature and have grouped the indicators of financial and economic security for hospitality and tourism business enterprises. The study analyzes the dynamics of financial indicators which comprehensively characterize the functioning of temporary accommodation and catering enterprises, as well as economic operators of tourist activity in Ukraine and offers an approach to assessing the financial and economic security of hospitality and tourism business enterprises which base their activities on the innovation potential. The results of the study prove that differentiating and operating the components of hospitality and tourism business operators' innovation potential is expedient and improves their financial and economic security.The practical significance of the obtained results lies in increasing the financial and economic security and innovativeness of hospitality and tourism business enterprises in Ukraine by applying the proposed approach to evaluation as a monitoring tool.

In the modern conditions of the world economy, the structural components of economic security can be considered at different levels of the hierarchy of relations, in particular: 1.The global level, where the key factors affecting the economic security of the world economy are determined.This includes international agreements, economic relations between countries, international organizations and other global instruments affecting the state of economic, information and ecological security.2. Regional level, where specific aspects of economic, information and ecological security are considered in individual regions or a group of countries.Regional agreements, trade blocs, energy cooperation, economic integration and other regional initiatives are key components of economic security at this level.3. National levelcomponents of economic, information and ecological security that reflect the policies and strategies of a specific country.This includes internal reforms, the level of economic stability, foreign trade policy and other internal aspects affecting the economic security of the country.4. Sectoral levelreflects economic, information and ecological security in specific sectors such as finance, energy, information technology, and other industries that may be critical to overall economic, information and ecological security.Depending on the level of the hierarchy, these components interact with each other and affect the general state of economic, information and ecological security at different levels of the global economy.

The object of research is the process of evaluating the strategic support of the economic security of the enterprise. It is revealed that one of the effective strategic measures to ensure the economic security of the enterprise is real and long-term financial investment, as well as mergers and acquisitions. It is taken into account that in the conditions of cheapening of assets, the latter become attractive for purchase by larger or economically stable companies. At the same time, such assets may have problems with solvency, profitability and others. In this regard, it is substantiated that an assessment of the feasibility of mergers and acquisitions should be accompanied by a determination of their impact on changes in the level of economic security. It is taken into account that the assessment of the level of economic security is based on determining the shortage of profit before tax. This shortage is characterized by the amount that the company loses due to the failure of certain threshold indicators of economic security. Given the hierarchical structure of such indicators, the shortage of profit is defined as the maximum possible value of the estimated disadvantages of profit for each indicator. It is proved that the effect of mergers and acquisitions, defined in the traditional way, can be achieved, but the effect that manifests itself in increasing the level of economic security is not. It is established that in modern conditions, the criterion for increasing the level of economic security should prevail over others. Methodological approaches to evaluating the feasibility of MaA (Mergers and Acquisitions) transactions have been improved, which, unlike existing ones, take into account the effects of reducing the shortfall in profit before tax and allow to compare the achieved level of economic security, respectively, before and after transactions. An indicator of the economic efficiency of MaA transactions from reducing the shortfall in EBT (Earnings before Tax) profits is proposed.The practical result of this research is the developed methodological approaches to assessing the appropriateness of MaA transactions. Application of the developed concept will allow more correctly assessing the consequences of mergers and acquisitions.

The article examines the methodology for assessing the economic security (ES) of enterprises in the oil industry. The author details an algorithm for evaluating the ES of these companies, enabling them to promptly identify various types of threats, forecast the outcomes of their impacts, determine methods and procedures for collecting and delivering information to the management center, and make managerial decisions regarding subsequent actions. In the model for calculating the ES level, the author proposes using a method for computing an integral indicator. The study also presents the process of forming an integral assessment of the ES of an oil enterprise by adjusting the volume of resource provision for the respective companies. For micro- and macro-level determinants, the author recommends using threshold values of ES indicators, which allow classifying the condition of an oil company as stable, pre-crisis, crisis, or critical. The article provides a scale for determining the ES level of an oil enterprise based on the value of the integral ES indicator.

During the last two decades The Russian Federation experienced a serious external pressure on the part of western countries, including the impact of unfair competition on global commodity markets and sectional costs. At the same time global geo-political space is undergoing changes too. Principle risks and threats to national and regional economic security, which kept arising in the previous years in many regions of the country, are becoming the most topical. Our home market demonstrates different dynamics of its development, which is characterized by low economic growth, regional disproportions in social and economic development, shortage of investment. Positive indicators include relative sustainability of economy, surplus of regional budgets, success of certain entities of the country in attaining strategic goals, a high level of openness of Federation entities’ economy. In this context identification of key risks and threats to regional economic security acquires special importance, designing approaches to their minimization and elimination is also essential. Unfortunately, there is no universal approach to their elimination in the global practice, however, it is possible to lower their impact on social and economic sphere. The authors analyzed a number of key factors influencing economic security in regions. Two large macro-regions of Russia, i. e. the Central and the Privolzhskiy Federal districts were investigated. Using their example entities, which are included in these districts, were typified by dynamics of certain indicators. It showed serious differentiation, the trends of investment shortage dominates in the majority of regions. In both districts, mentioned above the share of investment into fixed capital in gross regional product and returns on assets ratio decreased. Only the Kaluga region as an entity of the Central Federal district shows positive dynamics. Specific weight of shipped innovation products in the total volume of industrial output (indicator) demonstrates the level of economic security of the area in view of its competitiveness. The authors showed that the number of regions with growing dynamics of innovation products output is prevailing. Disproportions in key indicators of regional economic security were found. Positive factors of its growth, such as availability of serious potential of innovation economy development were identified.

The study determines that Ukraine's national interests are in the sustainable development of the national economy, integration into the European economic area, the development of equal and mutually beneficial economic cooperation with other states. It is highlighted that an important place in the security sector is occupied by challenges related to russia's armed aggression. The content of such a category as "economic security" is analysed and existing approaches to its definition are considered. It is proposed that the essence of economic security can be presented as a state of security of self-sufficient development of the country, which guarantees sustainable growth of economic indicators, effective satisfaction of the needs of the population, protection of the interests of the state at the national and international levels through the successful implementation of financial, industrial, foreign economic, investment, innovation and macroeconomic security tasks. A systematic fragmentary analysis of the main indicators characterising the economic security of Ukraine is carried out. It is noted that the indicators of all the main components of economic security remain low, with high risks of large-scale destabilisation in the development of the economy in the long term. The author suggests factors for improving the level of economic security of Ukraine in the context of russia's military aggression and the reconstruction of Ukraine in the post-war period.