REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

 FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

 PUBLISHER

Liburkina L. M.

 SITE SECTIONS

Main page

Editorial staff

Editorial policy

Annotated catalogue (2011)

Annotated catalogue (2012)

Annotated catalogue (2013)

Annotated catalogue (2014)

Annotated catalogue (2015)

Annotated catalogue (2016)

Annotated catalogue (2017)

Annotated catalogue (2018)

Annotated catalogue (2019)

Annotated catalogue (2020)

Annotated catalogue (2021)

Annotated catalogue (2022)

Annotated catalogue (2023)

Annotated catalogue (2024)

Thematic sections of the journal

Proceedings of scientific conferences

Diagnosing the Competitiveness of Ukrainian Stock Exchanges
Gnatchenko Y. Y., Tararuiev I. O.

Gnatchenko, Yevgeniia Yu., and Tararuiev, Iurii O. (2023) “Diagnosing the Competitiveness of Ukrainian Stock Exchanges.” Business Inform 1:137–145.
https://doi.org/10.32983/2222-4459-2023-1-137-145

Section: Finance, Money Circulation and Credit

UDC 336.76:339.13.012.42

Abstract:
The article is concerned with the formulation of recommendations for the diagnostics of competitiveness of stock exchanges in Ukraine. The main stages of the study are described, the definitions and stages of economic diagnostics are given, and the features of the diagnostics of the competitiveness of economic entities are formulated. A brief characterization of three of the four existing capital market operators (stock exchanges) selected by the authors as objects of competitiveness diagnostics is presented. Based on a detailed analysis of the public reporting of stock exchanges, annual reports of securities issuers, audit reports, regulatory provisions governing exchange activities in Ukraine, and other open information, the article substantiates the choice of indicators of competitiveness of stock exchanges and provides the ratio for their determination. Indicators of competitiveness are determined for 2020–2021 (exclusion from the list of objects for diagnosing the competitiveness of the PFTS stock exchange is due precisely to the lack of relevant information for the implementation of the necessary calculations). In order to correctly determine the competitive status of capital market operators, the normalization of the values of the selected competitiveness indicators was carried out using their minimum and maximum values (which made it possible to abandon the formation of the object of comparison with the best hypothetical characteristics and allowed to use the maximum values of indicators of stock exchanges as guidelines for their competitiveness in the most important areas of activity). The integral indicator of the competitiveness of stock exchanges is proposed to be determined as a result of averaging the normalized values of the corresponding indicators. Based on the results of the carried out diagnostics of the competitive status of stock exchanges, general recommendations for improving their competitiveness are formulated, together with the promising directions for further research in this sphere.

Keywords: stock exchanges, diagnostics of competitiveness, competitive status, increasing the competitiveness.

Fig.: 1. Tabl.: 4. Formulae: 9. Bibl.: 18.

Gnatchenko Yevgeniia Yu. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Entrepreneurship and Business Administration, O. M. Beketov National University of Urban Economy in Kharkiv (17 Chornohlazivska Str., Kharkіv, 61002, Ukraine)
Email: [email protected]
Tararuiev Iurii O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Entrepreneurship and Business Administration, O. M. Beketov National University of Urban Economy in Kharkiv (17 Chornohlazivska Str., Kharkіv, 61002, Ukraine)
Email: [email protected]

List of references in article

“Informatsiina dovidka shchodo rozvytku fondovoho rynku Ukrainy protiahom sichnia - lystopada 2022 roku“ [Informational Reference on the Development of the Stock Market of Ukraine during January - November 2022]. Natsionalna komisiia z tsinnykh paperiv ta fondovoho rynku. https://www.nssmc.gov.ua/news/insights/
Tymoshenko, O. V., and Hudyma, L. O. “Efektyvnyi rozvytok natsionalnoho rynku tsinnykh paperiv yak imperatyv ekonomichnoho zrostannia Ukrainy“ [The Efficient Development of the National Securities Market as an Imperative of Ukraine's Economic Growth]. Biznes Inform, no. 3 (2020): 293-298. DOI: https://doi.org/10.32983/2222-4459-2020-3-293-298
Bosak, A. O., and Doinik, Yu. V. “Fondovyi rynok Ukrainy: perspektyvy rozvytku i svitovyi dosvid derzhavnoho rehuliuvannia“ [Ukraine's Stock Market: Development Prospects and Global Experience of State Regulation]. Menedzhment ta pidpryiemnytstvo v Ukraini: etapy stanovlennia i problemy rozvytku, vol. 3, no. 2 (2021): 290-303. DOI: https://doi.org/10.23939/smeu2021.02.290
Savina, N. B., and Podlevskyi, A. A. Podlevska O. M. “Suchasni tendentsii rozvytku fondovoho rynku Ukrainy“ [Modern Trends of the Stock Market Development of Ukraine]. Visnyk Natsionalnoho universytetu vodnoho hospodarstva ta pryrodokorystuvannia. Seriia «Ekonomichni nauky», no. 2 (2021): 185-197. DOI: https://doi.org/10.31713/ve2202117
Kalivoshko, O. M. “Otsinka funktsionuvannia fondovykh birzh yak elementa infrastruktury finansovo-kredytnoho rynku Ukrainy“ [Assessment of the Functioning of Stock Exchange as Elements of the Infrastructure of Financial and Credit Market of Ukraine]. Efektyvna ekonomika, no. 3 (2019). DOI: https://doi.org/10.32702/2307-2105-2019.3.46
Matskiv, R. T., and Fultynska, N. F. “Diialnist fondovykh birzh v Ukraini na suchasnomu etapi“ [Activity of Stock Exchange in Ukraine at the Modern Stage]. Infrastruktura rynku. 2019. http://www.market-infr.od.ua/journals/2019/31_2019_ukr/100.pdf
Okuneva, O. V., and Pohrebna, A. S. “Derzhavni tsinni papery na fondovomu rynku Ukrainy“ [Government Securities on the Ukrainian Stock Market]. Molodyi vchenyi. Seriia «Ekonomichni nauky». 2018. http://molodyvcheny.in.ua/files/journal/2018/10/87.pdf
Tretiakova, O. V., Kharabara, V. M., and Hreshko, R. I. “Fondovyi rynok Ukrainy: osoblyvosti funktsionuvannia v suchasnykh umovakh“ [Fundamental Market of Ukraine: Features of Functioning in Modern Conditions]. Ekonomika ta derzhava, no. 5 (2020): 103-107. DOI: https://doi.org/10.32702/2306-6806.2020.5.103
Shevchenko, A. A., Petrenko, O. P., and Kravchenko, Yu. I. “Suchasnyi stan funktsionuvannia fondovykh birzh v Ukraini“ [The Current State of Functioning of Stock Exchanges in Ukraine]. Modern Economics, no. 27 (2021): 228-234. DOI: https://doi.org/10.31521/modecon.V27(2021)-32
Styrskyi, M. V. “Makro- ta mikroekonomichna efektyvnist fondovykh birzh Ukrainy“ [Macro and Microeconomic Efficiency of Ukrainian Stock Exchanges]. Ekonomika ta derzhava, no. 9 (2020): 38-43. DOI: https://doi.org/10.32702/2306-6806.2020.9.38
Rohovyi, A. V. “Ekonomichna diahnostyka pidpryiemstva: teoretychni ta praktychni aspekty doslidzhennia“ [Economic Diagnosis of Enterprise: Theoretical and Practical Aspects of Research]. Hlobalni ta natsionalni problemy ekonomiky. 2015. http://global-national.in.ua/archive/6-2015/95.pdf
“Fondova birzha «Perspektyva»: informatsiia shcho pidliahaie opryliudnenniu. Richna informatsiia emitenta tsinnykh paperiv za 2020 rik“ [Stock Exchange "Perspektiva": Information Subject to Publication. Annual Information of the Issuer of Securities for 2020]. http://fbp.com.ua/About/ShowHTML.aspx?FileID=674
“Fondova birzha «Perspektyva»: informatsiia shcho pidliahaie opryliudnenniu. Richna informatsiia emitenta tsinnykh paperiv za 2021 rik“ [Stock Exchange "Perspektiva": Information Subject to Publication. Annual Information of the Issuer of Securities for 2021]. http://fbp.com.ua/About/ShowHTML.aspx?FileID=810
“Ukrainska birzha: okrema finansova zvitnist ta zvity nezalezhnoho audytora shchodo okremoi richnoi finansovoi zvitnosti za 2020-2021 rr.“ [Ukrainian Stock Exchange: Separate Financial Statements and Independent Auditor's Reports on Separate Annual Financial Statements for 2020-2021]. http://www.ux.ua/s281
“Audytorskyi vysnovok shchodo finansovoi zvitnosti PrAT «UMVB» za 2020 r.“ [Auditor's Opinion on the Financial Statements of PJSC "UMVB" for 2020]. https://www.uicegroup.com/wp-content/uploads/2021/07/audit_fin_2020.pdf
“Audytorskyi vysnovok shchodo finansovoi zvitnosti PrAT «UMVB» stanom na 31.12.2021 r.“ [Auditor's Opinion on the Financial Statements of PJSC "UMVB" as of December 12, 2021]. https://www.uicegroup.com/wp-content/uploads/2022/12/Audit_fin_2021.pdf
“Informatsiina dovidka shchodo rozvytku fondovoho rynku Ukrainy protiahom sichnia - hrudnia 2021 roku“ [Informational Reference on the Development of the Stock Market of Ukraine during January - December 2021]. Natsionalna komisiia z tsinnykh paperiv ta fondovoho rynku. https://www.nssmc.gov.ua/news/insights/
[Legal Act of Ukraine] (2015). https://zakon.rada.gov.ua/laws/show/z1311-15#Text

 FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

 INFORMATION

The Plan of Scientific Conferences

 OUR PARTNERS

Journal «The Problems of Economy»