Browsing by Author "Яворська, Тетяна Василівна"

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Державне регулювання системи пенсійного забезпечення
(Національний університет "Львівська політехніка", 2021) Жайворонок, Ілля Романович; Кулініч, Тетяна Володимирівна; Національний університет "Львівська політехніка"; Яворська, Тетяна Василівна; Андрушків, Богдан Миколайович
Дисертацію присвячено вирішенню наукового завдання розроблення методико-понятійних положень та рекомендацій щодо державного регулювання системою пенсійного забезпечення в Україні. Представлено іноземний досвід формування системи пенсійного забезпечення. Запропоновано інструментарій визначення ефективності пенсійної підсистеми. Вперше розроблено модель обов’язкової накопичувальної пенсійної підсистеми, яка базується на передачі накопичувальних пенсійних програм індивідів пенсійним фондом України недержавним пенсійним фондам шляхом аукціонних торгів. Проведено аналізування добровільної накопичувальної підсистеми пенсійного забезпечення в результаті якого, доведено її неефективність та збитковість. Удосконалено структуру інвестиційного портфелю недержавних пенсійних фондів, які здійснюють свою діяльність на третьому рівні системи пенсійного забезпечення. Розроблено рекомендації для підвищення ефективності функціонування розподільчої та добровільної накопичувальної підсистем пенсійного забезпечення в Україні. Диссертация посвящена решению научной задачи разработки методикопонятийных положений и рекомендаций по государственному регулированию системой пенсионного обеспечения в Украине. Представлены иностранный опыт формирования системы пенсионного обеспечения. Разработан инструментарий определения эффективности пенсионной подсистемы. Впервые разработана модель обязательной накопительной пенсионной подсистемы, которая основывается на передаче накопительных пенсионных программ индивидов пенсионным фондом Украины негосударственным пенсионным фондам на основе аукционных торгов. Проведен анализ добровольной накопительной подсистемы пенсионного обеспечения в результате которого, доказана ее неэффективность и убыточность. Усовершенствована структура инвестиционного портфеля негосударственных пенсионных фондов, осуществляющих свою деятельность на третьем уровне системы пенсионного обеспечения. Разработаны рекомендации для повышения эффективности функционирования распределительной и добровольной накопительной подсистем пенсионного обеспечения в Украине. The dissertation is devoted to solving the scientific problem of developing methodological and conceptual provisions and recommendations for state regulation of the pension system in Ukraine. Foreign experience in the formation of the pension system is presented. The object of research is the processes of state regulation of the pension research system. The subject of the study is the theoretical, methodological and applied principles of state regulation of the pension system. The scientific work presents a scheme of interaction of elements of the pension system with the parameters of state economic policy. The essence and significance of state regulation of the pension system in the national economy are revealed, as well as its directions at each level of pension subsystems are characterized. The dissertation presents the features of functioning and development of distribution and storage subsystems. The key differences between the distribution and funded pension subsystems in terms of how they are organized and presented, namely: the formation of pension reserves, the use of actuarial calculations, the obligation of public administration and the use of defined contribution schemes or defined benefits. It is determined that the reforms of pension systems carried out in the OECD countries mainly concerned distributive pension systems and were aimed at reducing government liabilities to retirees. These include raising the retirement age, raising the minimum length of service required to receive a pension, restricting early retirement (prohibition, or reducing the pension), and encouraging later retirement (increasing the pension). The most innovative are reforms with built-in stabilization mechanisms, which link retirement age to life expectancy after retirement, and pension benefits to the ratio of assets and liabilities of the state distribution system. The dissertation characterizes and analyzes the state and trends in the development of pension subsystems of Ukraine, as well as analyzes the performance of pension systems in developed countries. The comparison of pension systems of different countries is based on the indicator of the efficiency of the pension system. Empirical comparative analysis of the efficiency of pension systems of different countries, in our opinion, should take into account the ability of each of the systems to provide retirees with the highest level of replacement rate per 1 percentage point of GDP spent by the state on the pension system taking into account the demographic burden. Measures have been developed to improve the existing distribution pension subsystem, create a mandatory funded pension subsystem and reform the voluntary funded subsystem. In the dissertation work the model of analysis of functioning and forecasting of activity of distribution subsystem of pension provision is finished. The system of measures for the development of the state distribution pension subsystem has been developed, which includes: cost optimization and efficiency of the pension fund of Ukraine, introduction of incentives for official employment in the field of illegal employment, raising the retirement age, raising the single social contribution rate for private entrepreneurs. These measures will make it possible to achieve a higher replacement rate. The need to implement in Ukraine a strategy of mandatory funded pension insurance is due to the following factors: 1. The legal field of Ukraine has long defined a three-tier pension system, moreover, adopted legal documents on its full implementation. The problem is to postpone the introduction of the second element of the pension system due to the unwillingness to assume economic, social and political risks by the legislature and the executive. 2. The waiver of compulsory pension insurance in favor of the voluntary is ineffective due to the lack of trust in private investment institutions in most employees. 3. Full-fledged activity of the obligatory accumulative element of the pension system will be another source of financing of economic development of the state, as one of the main functions of this element is investment of accumulated funds in the objects of the national economy. The scheme of functioning of the accumulative element of the second level of the pension system developed by the author was presented. The role of the Pension Fund of Ukraine, state auctions and non-state pension funds in this scheme were considered. Tools for determining the efficiency of the pension subsystem have been developed. For the first time, a model of mandatory funded pension subsystem was developed, which is based on the transfer of funded pension programs of individuals to the pension fund of Ukraine to non-state pension funds on the basis of auction bidding, taking into account the share of employee contributions, accumulation period. The developed model of accumulation of pension contributions and income from investment activities of individual pension accounts of an individual presents two stages, namely: the period of accumulation and payment of pension assets. The period of accumulation is characterized by the pension contributions, and the second by the payment of the accumulated pension capital of the individual and the subsequent investment of his balances. After analyzing the financial statements of the subsystem of voluntary pension provision, a conclusion about its inefficiency was formed. The reason for this is the low return on investment of NPFs, the high level of remuneration of managers and the waste of NPF assets for pension payments. The structure of the investment portfolio of non-state pension funds operating at the third level of the pension system has been improved. Recommendations for improving the efficiency of distribution and voluntary accumulative pension subsystems in Ukraine have been developed.
Оцінювання та державне регулювання систем краудфандингу в національній економіці
(Національний університет "Львівська політехніка", 2019) Уголькова, Олена Зіновіївна; Скибінський, Олександр Станіславович; Національний університет «Львівська політехніка»; Денисенко, Микола Павлович; Яворська, Тетяна Василівна
Дисертацію присвячено вирішенню наукового завдання розроблення теоретичних положень та надання методико-прикладних рекомендацій з удосконалення підходів до оцінювання та державного регулювання систем краудфандингу. У роботі розвинуто понятійний та термінологічний апарат щодо систем краудфандингу та удосконалено типологію краудфандингових проектів. Проведено детальний аналіз досвіду застосування краудфандингу та виявлено чинники, що вплинули на встановлення та розвиток краудфандингової діяльності у розвинених країнах світу. Розвинуто типологію чинників розвитку краудфандингу та досліджено їх вплив на вітчизняні реалії. Удосконалено положення з державного регулювання краудфандингу. Розроблено модель процесу реалізації краудфандингового проекту, систематизовано та вдосконалено ряд показників з метою здійснення оцінювання та моніторингу стану краудфандингової діяльності. Диссертация посвящена решению научной задачи разработки теоретических положений и методико-прикладных рекомендаций по совершенствованию подходов к оценке и государственному регулированию систем краудфандинга. В работе развит терминологический аппарат по системам краудфандинга и усовершенствована типология краудфандинга. Проведен детальный анализ опыта применения краудфандинга и выявлены факторы, повлиявшие на установление и развитие краудфандинговои деятельности в развитых странах мира. Развито типологию факторов развития краудфандинг и исследовано их влияние на отечественные реалии. Разработана модель процесса реализации краудфандингового проекта, которая разделяет проект на этапы с выделением ответственных за каждый этап лиц и их функций. Усовершенствована положения по государственному регулированию краудфандинга и систематизировано ряд показателей с целью осуществления оценки и мониторинга состояния краудфандинговои деятельности в государстве. The dissertation is devoted to solving the scientific problem of developing theoretical basis and providing methodological and applied recommendations for improving approaches to the evaluation and state regulation of the crowdfunding systems. The relevance of scientific research is due to the limited financial resources and their significant cost for newly created, innovative enterprises or for public organizations and diverse cultural and artistic associations. The object of the research of the dissertation is the process of assessment and state regulation of the crowdfunding system, and the subject of the study is the theoretical and applied principles of state regulation of the crowdfunding activity in the conditions of development of the domestic market. The conceptual and terminological apparatus in relation to crowdfunding activity is developed, namely the author's definition of the notions "crowdfunding", "crowdfunding system", "crowdfunding project", "crowdfunding activity" and others is given. In author’s opinion, crowdfunding is an innovative tool that allows accumulation of financial resources from a significant number of participants (donors) for the implementation by authors (recipients) of innovative, social and business projects with the use of specialized Internet resources (crowdfunding platforms) requiring special competencies from recipients, which may affect the donor's positive decision. The system of crowdfunding, in author’s understanding, is a combination of the activities of crowdfunding actors, that are, the project authors, the donors (sponsors) of the project and the intermediaries thanks to Internet resources in order to accumulate funds for the implementation of innovative, business and social projects In addition, the typology of crowdfunding projects is improved, new classification features and new types of crowdfunding projects are proposed and the analysis of the main selected types is realized. Namely, it is proposed to take into account such classification features as novelty and information channel of the project. The author distinguishes the following types of projects by the novelty: radical, modernization and non-innovative projects. The radical crowdfunding project is type of project that allows the creation of new product or service, modernization project has a purpose to improve certain existing products and services, and non-innovative project is a project that requires financial help for the implementation or creation of existing ideas, goods, services, and events. According to the information channels of project, the crowdfunding projects can be divided into projects with direct and indirect channel of information. The development of such a typology will create the basis for an adequate legal framework that will not manage crowdfunding activity in general, but each individual type of crowdfunding project, since each one is significantly different from the other by the crowdfunding platforms, by the way of rewarding, and by participants. The model of the implementation of the crowdfunding project is developed in the dissetation. This model divides the project into stages with the identification of those responsible for each stage of the individuals and the allocation of their functions. The mains functions at all stages of projects for recipients are the following: development of the concept of crowdfunding project; choice of appropriate crowdfunding platform and registration of project; choice of monetary purpose, duration of the campaign, remuneration for donors; preparation of the necessary information tools (video, content, etc.) and promotion in the media, social networks; communication with existing and potential crowdfunding project’s donors; update information and reporting; receiving funds and implementation of idea of crowdfunding project; informing donors about the project’s results and their remuneration. Detailed analysis of the experience of applying crowdfunding in developed countries is carried out. As a result, the typology of the factors of development of crowdfunding is developed and the influence of these factors on the national realities is analyzed. In the dissertation, the concept of "state regulation of crowdfunding activity" is improved. The author suggests to include the following instruments for state regulation of crowdfunding systems: improvement of the legal and regulatory framework governing such activity; stimulating tax policy and tax incentives for the implementation of crowdfunding projects; provision of a mechanism for the development of business incubators, accelerators and other elements of innovation infrastructure; development and implementation of a mechanism for disseminating information about crowdfunding as financial instrument (creation of Ukrainian association of crowdfunding, different state offices, etc.); creation of preconditions and regulation of cooperation with international and Ukrainian crowdfunding internet platforms. In order to realize the evaluation and continuous monitoring of crowdfunding activity, it is suggested to use the following indicators: the total amount of financial resources accumulated with the help of crowdfunding, the total number of crowdfunding platforms existing in a particular state, the average amount of financial resources accumulated with the help of one crowdfunding project, the weight of the contribution of the crowdfunding activity to GDP, the share of number of participants in the crowdfunding activity in the total number of economically active population, the weight of the contribution of the crowdfunding activity to the economic activity of the state, the indicator of financial feasibility of applying crowdfunding. These indicators can be used to assess crowdfunding activity. Initial calculations on these indicators showed the prospect of such an assessment approach. The positive dynamics of these indicators will characterize the high quality of public administration and will allow for comparative analysis both at the state and at the regional level. The practical significance of the results obtained in the dissertation is the possibility of using financial managers of existing enterprises and young entrepreneurs methodical recommendations for: substantiation of expediency of attraction of financial resources with the help of crowdfunding activity; development of the crowdfunding project and establishment of responsible persons at each stage of the project; analysis of the project on its viability; estimation of economic efficiency of the crowdfunding project. In addition, the research results constitute a solid foundation for further research in this area.
Формування моделей кредитно-інвестиційної політики в національній економіці
(Національний університет "Львівська політехніка", 2021) Гончар, Світлана Йосипівна; Кузьмін, Олег Євгенович; Національний університет "Львівська політехніка"; Яворська, Тетяна Василівна; Череп, Алла Василівна