Business, Economics, Sustainability, Leadership and Innovation en-US Wed, 15 Jul 2020 00:00:00 +0300 OJS 60 National Human Capital or National Institutions: Multilevel Theory Perspective <p>This article contributes management insight into the economic debate on the primacy of national human capital or national institutions in national economic development. The article utilized TIMSS Assessment results and the World Competitiveness Reports data for its statistical analysis via the use of multiple regressions. According to the statistical analysis, national human capital has significantly less effect on national economic development that the national institutional measures. The article employed the Multilevel theory of organizations to explain this phenomenon and extrapolated it to the level of a country. The Multilevel model of human capital creation explains how the collective organizational human capital resource is created out of individual-level organizational members’ knowledge, skills and abilities thanks to the presence of enabling factors. The article shows that national institutions are such enabling factors on country level. Utilization of the human capital resource of a country’s citizens is mediated by the factor of national institutions. With the absence of high quality institutions individual human capital of a country’s citizens does not agglomerate into the national human capital resource. Unless open and transparent well-developed national institutions exist, the country will not have good economic development even though the human capital level of its citizens is adequate. Investing money in education without building a system of strong national institutions will not bring the desired results.</p> Olga O. Verkhohlyad Copyright (c) 2021 Wed, 15 Jul 2020 00:00:00 +0300 “Academic Capitalism”: Pros and Cons of the Development of Science and Higher Education <p>The environment of academic capitalism, which has covered almost the entire field of science and higher education, has both positive (PROS) and negative (KONS) influences on them. Academic capitalism has sharply accelerated the commercialization of the results of applied research and development of universities and research institutes and has allowed these organizations and institutions to significantly capitalize on their intellectual capital. This gave impetus to the development of progressive innovations and outstanding inventions. For example, in the system of higher education there is an intensive innovative development, which, of course, can be attributed to the positive impact of academic capitalism on the development of material, technical, scientific and engineering potential of universities and colleges.<br>On the other hand, the pursuit of profit and the general search for opportunities to commercialize R&amp;D results, mainly the results of applied research and experimental development, leads to a significant reduction in demand and attention to the development of fundamental science and the search for basic scientific values. This leads to a slowdown in the production of new basic fundamental knowledge and a slowdown in the intellectual development of society.<br>Many recent scientific publications have also criticized the impact of academic capitalism on science and higher education. Excessive entrepreneurial activity of universities in the direction of profiting from the development and commercialization of applied research instead of purely scientific activities and basic basic research leads to the loss of the position of universities and colleges as “temples of science”. There may still be a small number of academic institutions of higher education and research that continue to conduct basic research that is difficult to commercialize but that is genuine “scientific knowledge,” or in other words, knowledge of humanity.<br>This paper analyzes the innovative changes in the higher education system caused by the environment of academic capitalism. The negative impact of academic capitalism on the sphere of higher education and science is also analyzed.</p> Oleksandr O. Romanovskyi, Yuliia Yu. Romanovska Copyright (c) 2021 Wed, 15 Jul 2020 00:00:00 +0300 Teaching Multi-Stakeholder Sustainable Innovation <p>Higher education has a crucial role to play in the global transition sustainable devbelopment. A shift from an educational paradigm that teaches linear and unsustainable innovation activity, to one that teaches circular and sustainable innovation activity, is a fundamental requirement if global sustainable development goals are to be met through future innovation. The educational model currently forming the foundation for most MBA programs remains primarily focused on teaching maximization of shareholder profit within a private, for-profit business context. A ‘sustainable’ business is usually defined as one that has successfully met purely financial goals for the benefit of shareholders, often ignoring other vital stakeholder interests, most importantly: natural, human and social capital. On the base of UACU we grounded that today models of business instruction must focus student innovation activity on the design and implementation of multi-stakeholder innovations. Innovations that meet a need or solve a problem within foundational sectors of civilization. Innovations that are adaptable and applicable to widely divergent sectors, from private for-profit business to social charities. Business education must be built upon a foundation of analytic skills, an ethical framework, and a commitment to promoting ‘sustainable’ innovations.</p> Paul R. Thomas Copyright (c) 2021 Wed, 15 Jul 2020 00:00:00 +0300 Humanitarian Wars are Implemented Everywhere, From the Sphere of Economics and Politics to the Nobel Prizes <p>The article states that countries of the world make full use of all the tools on hand. Nowadays, when large volumes of information are transferred through social media by means of automatic bots, the world is facing a bloom of fake news and conspiracy theories, which became apparent in the context of the pandemic. Author pointed that Hybrid warfare appeals to the warring sides owing principally to the anonymity of the players. After all, everything that is happening in the wars may well be interpreted as a natural development of the situation. The paper identified three main directions that disinformation attacks are focused on: undermining trust in public institutions by re- porting on civilian disobedience in the attacked countries, narratives on the success of the pandemic response activities in the attacking countries, speculations over the coun- try of origin of the virus, for example that it is an American-manufactured bioweapon. The hypothesis of the paper that the modern world is changing many of our past skills and tools. This, among other things, fully applies to the impact on other countries which might, in the old fashioned way, be called wars but are rather struggle for domination. Even international sporting contests are regarded as military victory over a hypothetical “maneuver enemy.” Ukraine is under constant shellfire, when information operations are aimed to prove the fact that Ukraine is a “failed state,” while cybercorporations are designed to destroy the efficiency of banking, financial and economic spheres.</p> Georgii G. Pocheptsov Copyright (c) 2021 Wed, 15 Jul 2020 00:00:00 +0300 Gdp-Linked Warrants: Theory and Practice <p>The paper provides a review of theoretical and practical aspects of GDP- linked warrants emission. Theoretical problems related to these securities are explored by way of comparison of original GDP-linked bonds and GDP-linked warrants, issued in the course of debt restructuring; practical aspects are ex- amined by means of a comparative overview of terms and conditions of most recent emissions of such financial instruments by Argentina, Greece, and Ukraine. Intrinsical discrepancies between theory and practice, combined with detected trends of tightening of terms and conditions of each successive emission, qualify authors for rationalization of the need of national and international monitoring over foreign debt restructuring negotiations.</p> Arutyun W. Amalian, Nataly D. Amalyan Copyright (c) 2021 Wed, 15 Jul 2020 00:00:00 +0300 Evolution of Approaches to Organization and Management in the Hotel Industry <p>This article is aimed at studying the evolution of the hotel industry in the context of organization and management and arrangement of the stages of its formation as an independent type of business, which in the future will expand the ability to understand trends in this industry and develop new and improve existing management methods in this area. In modern society, the hotel industry is a major factor and basic component not only of tourism infrastructure, but also the service sector in general. Therefore, the problem of the evolutionary way of developing approaches to the organization and management of the hotel industry, especially in the context of the national economy, requires in-depth research to substantiate new principles and methods of hotel business manage- ment, develop ways to improve its efficiency and improvements. We can witness an evolutionary periodization developed regarding the upgrading of approaches to organization and management in the hotel industry, which consists of 12 stag- es. The authors substantiate the specific organizational and managerial features and characteristics of each stage. There is a revelation of the modern tendencies of the hotel industry development worldwide. The necessity for further research in the field of science is emphasized, as they will have significant prospects to be applied in practice both by individual companies and entire countries in terms of increased competition.</p> M. P. Denysenko, Yu. A. Shevchuk Copyright (c) 2021 Wed, 15 Jul 2020 00:00:00 +0300 Study of the Way to Overcome the Crisis by Development of International Tourism Business in Ukraine in Cooperation with Poland <p>Crisis trends in the economies of eastern Europe from time to time make themselves felt, touching many sectors of the economy at once. In the conditions of the Ukrainian crisis, as well as a number of economic shocks affecting Poland, the development of the tourism business seems very promising. Quantitative and qualitative indicators of the success of the economy of Eastern Europe indicate the need to give a tangible and non-standard impetus to the development of the economy. The article traces the importance of developing the international tour- ism business as a link capable of ensuring an influx of investments and economic growth in Ukraine and Poland, as well as improving their international image and investment attractiveness, becoming a prologue to the further development of their economic situation. The most urgent necessary steps for the development of tourism industries in the considered countries, as well as ways to enhance tourist flows in the region, are noted. The Polish and Ukrainian experience in the field of international tourism business is compared and recommendations for organizing public-private partnerships and international cooperation are formulated.</p> Joanna Rogozinska-Mitrut, Kostiantyn Sapun, Janusz Soboń, Ruslana V. Seleznova Copyright (c) 2021 Wed, 15 Jul 2020 00:00:00 +0300 Data Science Tools in Service to Combat Post-Covid Outcomes in International Economics <p>The article deals with the study of current capacity of data analytic tools from global technological business ventures that can facilitate the approach to over- come the international economic growth decline caused by the global Covid-19 pandemic.</p> <p>The Author analyses existing strategies in business intelligence to improve managerial, marketing, production efficiency and its rapid growth due to data collection and development of analytical frameworks together with labour force sophistication. Newly established area of data science appears to have the ca- pacity and force to contribute to economic recovery of national and global econ- omies due to targeted solutions and efficiency of allocation of investment and resources.</p> Glib S. Buriak Copyright (c) 2021 Wed, 15 Jul 2020 00:00:00 +0300 Evolutionary Aspect and Current State of the European Union Development <p>The article examines the evolution of the development of the European Union (EU), suggests the stages of its formation. The main factors of the emer- gence of the EU and important aspects of integration are indicated. The gradual accession of new members and documents regulating the functioning of the EU are reflected. The statistics of foreign trade of the EU countries and the place of the EU in the world are given. Special attention is paid to the relations between Ukraine and the EU as the main partner for Ukraine. The stages of development of Ukrainian-European relations and the importance of integration processes for our country are presented, which is reflected in the form of foreign trade statistics between Ukraine and the EU.</p> Maryna M. Dielini, Alla V. Sukhanova Copyright (c) 2021 Wed, 15 Jul 2020 00:00:00 +0300