The Organizational and Economic Mechanism to Ensure the Financial Security of companies in the Conditions of Global Digitalization

• Anna Pohrebniak National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine. https://orcid.org/0000-0003-2421-476X
• Volodymyr Tytykalo Bogomolets National Medical University, Kyiv, Ukraine. https://orcid.org/0000-0001-9461-5521
• Olha Kalchenko Chernihiv Polytechnic National University, Chernihiv, Ukraine. https://orcid.org/0000-0002-7120-9843
• Nadiia Antypenko National Aviation University, Liubomyra Huzara Str., Kyiv, Ukraine. https://orcid.org/0000-0003-4132-4709
• Valentyna Kyrii Kharkiv National University of Radio Electronics, Kharkiv, Ukraine. https://orcid.org/0000-0002-2537-264X

DOI: https://doi.org/10.46925//rdluz.42.29

Keywords: Financial security, organizational and economic mechanism, economic security, enterprise, digitalization, global digitalization

Abstract

Current globalization trends of digitization are increasingly actualizing the issue of ensuring economic security at the level of various economic systems, which leads to scientific research to develop the foundations of the organizational and economic mechanism for ensuring financial security of an enterprise. The purpose of the study is to develop an organizational and economic mechanism for ensuring the financial security of the enterprise, based on a taxonomic analysis of the financial security of the company under the conditions of global digitalization. A methodical approach of economic- mathematical modeling using a taxonomic analysis of financial security of the enterprise in the conditions of the global digitalization is proposed. The application of the proposed methodical approach and the implementation of the organizational and economic mechanism for ensuring financial security of the enterprise in the conditions of the global digitalization makes possible to establish the root causes of the emergence and negative effects of threats to the financial security of the enterprise with further development and implementation of measures of the organizational and economic mechanism for ensuring financial security of the enterprise.

References

Arefieva, O., Tulchynska, S., Popelo, O., Arefiev, S., Tkachenko, T. (2021). The Economic Security System in the Conditions of the Powers Transformation. IJCSNS International Journal of Computer Science and Network Security,21(7), 35-42. https://doi.org/10.22937/IJCSNS.2021.21.7.4.

Bielialov T., Kalina I., Goi V., Kravchenko O., Kravchenko O., Shyshpanova N., Negoda A. (2023). Global Experience of Digitalization of Economic Processes in the Context of Transformation. Journal of Law and Sustainable Development, 11(3), e814. https://doi.org/10.55908/sdgs.v11i3.814.

Blakyta, G., Ganushchak, T. (2018). Enterprise financial security as a component of economic security of the state. Investment Management and Financial Innovations, 15(2), 248-256. http://dx.doi.org/10.21511/imfi.15(2).2018.22.

Delas, V., Nosova, E., Yafinovych, O. (2015). Financial Security of Enterprises. Procedia Economics and Finance, 27, 248-266. https://www.researchgate.net/publication/283974581_Financial_Security_of_Enterprises.

Dokiienko, L. (2021). Financial security of the enterprise: an alternative approach to evaluation and management. Business, Management and Economics Engineering, 19(2), 303-336. https://jest.vgtu.lt/index.php/BMEE/article/view/14255.

Dokiienko, L., Hrynyuk, N., Nakonechna, O., Mykhailyk, O. (2021). System for evaluation of financial security of the operational activity of oil-and-fat industry enterprises. Agricultural and Resource Economics: International Scientific E-Journal, 7(4), 138-159. https://are- journal.com/are/article/view/482.

Dubyna, M., Popelo, O., Kholiavko, N., Panchenko O., Tarasenko, A. (2022). Features of the Transformation of the Regional Models of the Households’ Financial Behavior. Management Theory and Studies for Rural Business and Infrastructure Development, 44(1), 117-124. DOI: https://doi.org/10.15544/mts.2022.12.

Gonchar, O., Khachatrian, V., Ostapchuk, O., Bitiy, A. (2020). Financial Security Assessment In Enterprise Potential Management. Studies of Applied Economics, 38(4): Special Issue: The Recent Economic Trends and their Impact on Marketing. https://ojs.ual.es/ojs/index.php/eea/article/view/4026.

Grigoraș-Ichim C.E., Cosmulese C.G., Savchuk D., Zhavoronok A. (2018). Shaping the perception and vision of economic operators from the Romania – Ukraine – Moldova border area on interim financial reporting. Economic Annals-XXI, 173(9-10), 60-67. https://doi.org/10.21003/ea.V173-10.

Grosu, V., Kholiavko, N., Zhavoronok, A., Zlati, M.L., Cosmulese, C.G. (2021). Conceptualization of the financial management model in the Romanian agriculture. Economic Annals-XXI, 191(7-8(1)), pp. 54-66. https://doi.org/10.21003/ea.V191-05.

Kaczmarek, J. (2019). The Mechanisms of Creating Value vs. Financial Security of Going Concern—Sustainable Management. Sustainability, 11, 2278. https://doi.org/10.3390/su11082278.

Kholiavko, N., Popelo, O., & Tulchynska, S. (2021). Priority Directions of Increasing the Adaptivity of Universities to the Conditions of the Digital Economy. Revista Tempos E Espaços Em Educação, 14(33), e16383. https://doi.org/10.20952/revtee.v14i33.16383.

Kholiavko, N., Popelo, O., Melnychenko, A., Derhaliuk, M., & Grynevych, L. (2022). The Role of Higher Education in the Digital Economy Development. Revista Tempos E Espaços Em Educação, 15(34), e16773. https://doi.org/10.20952/revtee.v15i34.16773.

Kuzior, A., Arefieva, O., Vovk, O., Brożek, P. (2022). Innovative Development of Circular Systems While Ensuring Economic Security in the Industry. J. Open Innov. Technol. Mark. Complex, 8, 139. https://doi.org/10.3390/joitmc8030139.

Marhasova, V., Kholiavko, N., Popelo, O., Krylov, D., Zhavoronok, A., & Biliaze, O. (2023). The Impact of Digitalization on the Sustainable Development of Ukraine: COVID-19 and War Challenges for Higher Education. Revista De La Universidad Del Zulia, 14(40), 422-439. doi:10.46925//rdluz.40.24.

Popelo, O., Tulchynska, S., Revko, A., Butko, M., Derhaliuk, M. (2022). Methodological Approaches to the Evaluation of Innovation in Polish and Ukrainian Regions, Taking into Account Digitalization. Comparative Economic Research. Central and Eastern Europe, 25(1), 55-74. https://doi.org/10.18778/1508-2008.25.04.

Rumiantsev A., Pobochenko L., Pobochenko L., Pichkurova Z., Tolpezhnikova T., Kovbych T., Lyashov D. (2022). The impact of global digitalization on the Ukrainian labor market development. Financial and Credit Activity Problems of Theory and Practice, 5(46), 334–348. https://doi.org/10.55643/fcaptp.5.46.2022.3854.

Rushchyshyn, N., Nikonenko, U., & Kostak, Z. (2018). Formation of financial security of the enterprise based on strategic planning. Baltic Journal of Economic Studies, 3(4), pp. 231-237. https://doi.org/10.30525/2256-0742/2017-3-4-231-237.

Shkarlet S., Dubyna M., Vovk V., Noga M. (2019). Financial service markets of Eastern Europe: a compositional model. Economic Annals-XXI, 176(3-4), 26-37. https://doi.org/10.21003/ea.V176-03.

Sylkin, O., Kryshtanovych, M., Zachepa, A., Bilous, S., & Krasko, A. (2019). Modeling the process of applying anti-crisis management in the system of ensuring financial security of the enterprise PDF Logo. Business: Theory and Practice, 20, 446-455. https://www.econstor.eu/handle/10419/247993.

Sylkin, O., Krystyniak, M., Pushak, Ya., Ogirko, O., & Ratushniak, Yu. (2019). Anti-Crisis Strategy in the System of Ensuring Financial Security of the Engineering Enterprise: Theoretical and Practical Aspects. IEEE International Scientific-Practical Conference Problems of Infocommunications, Science and Technology (PIC S&T), 19513529. https://ieeexplore.ieee.org/document/9061346.

Vaitkus, R., & Vasiliauskaitė, A. (2022). An Assessment of the Impact of Legal Regulation on Financial Security in OECD Countries. J. Risk Financial Manag., 15, 86. https://doi.org/10.3390/jrfm15020086.

Viknianska, A., Kharynovych-Yavorska, D., Sahaidak, M., Zhavoronok, A., Filippov, V. (2021). Methodological approach to economic analysis and control of enterprises under the conditions of the economic systems transformation. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, 4, 150-157. https://doi.org/10.33271/nvngu/2021-4/150.

Vovk, O., Tulchynska, S., Popelo, O., Tulchinskiy, R., & Tkachenko, T. (2021). Economic and Mathematical Modeling of the Integration Impact of Modernization on Increasing the Enterprise Competitiveness. Management Theory and Studies for Rural Business and Infrastructure Development, 43(3), 383-389. https://doi.org/10.15544/mts.2021.35.