Economics Ecology Socium

Impact of New Quality Productive Forces on the High-Quality Development of the Construction Industry: Evidence from China

2025-06-29T09:53:03+00:00

Introduction. Recognised as an emerging and advanced mode of productivity, new quality productive forces (NQPF) have significantly contributed to the development of various industries. Investigating their influence on the high-quality development of the construction industry (HDCI) can offer theoretical support and practical guidance for the transformation and upgrading of the industry. This includes improving quality and efficiency, advancing green development, and promoting sustainable practices. Such efforts are of great significance for the high-quality development of the national economy.

Aim and tasks. This study aims to develop an index system for assessing the impact of new quality productive forces on the high-quality development of the construction industry, and empirically examines their relationship within the context of industrial structure modernisation.

Results. The regression coefficient of NQPF on HDCI was 0.293, and all regression results remained positive after the sequential inclusion of the control variables. The regression coefficient of NQPF on industrial structure upgrading was 0.056, whereas the regression coefficients of NQPF and industrial structure upgrading on HDCI were 0.201 and 0.256, respectively. A bootstrap test involving 1,000 resampling iterations was performed, and the resulting confidence interval was [0.0005, 0.0406], which does not include zero. The results of the regional heterogeneity analysis indicate that the positive effect of NQPF on HDCI was strongest in the eastern region (0.348), followed by the western region (0.132), with the impact on the central region being statistically insignificant. After applying the robustness checks, all regression results remained positive and statistically significant at the 1% level.

Conclusions. This study develops a framework for analysing the impact of NQPF on HDCI and provides recommendations for the forthcoming construction industry and related policy research. Under the NQPF policy framework, the impetus to promote high-quality development of China’s economy and construction industry is reasonably policy-driven, featuring industrial upgrading and regional optimisation in synergy with technological popularisation. Policy choices under the NQPF regarding China’s construction industry and the high-quality development of its economy are of critical importance. Moreover, they further contribute to the promotion and enhancement of environmental sustainability.

A Cross-Sectional Review of Energy Transition, Security and Climate Change Policies

2025-06-29T10:02:56+00:00

Introduction. Energy, security, and climate change are essential concerns for policymakers and economic agendas, prioritising data monitoring, national resources, resilience, and informed planning. The analysis of these topics is relevant for achieving sustainability objectives and targets, especially for understanding and analysing societal, technological, environmental, and economic developments, aiming to guarantee a fair and inclusive transition.

Aim and tasks. This study presents a legal and policy nexus linking energy transition, security, and climate change by completing a complex analytical and conceptual analysis of key terms and policies developed from 1985 to 2022. Furthermore, it reviews the evolution of climate change, security, and energy transition concepts and analyses European and international policy and judicial options to reach a consensus on addressing climate change.

Results. The findings are intended to provide insights into the nexus of energy-security-climate change by reflecting the terminology and associated concepts in digitalised academic literature from 1985 to 2022 using the Google Ngram Viewer platform. The modelling analysis displayed various interrelated graphical representations that support future green energy and climate change policy settings, linking Ngram monitoring, result analysis, and data interpretation. The cross-sectional analysis examines the dynamic conceptual processes of specific terms and emerging research streams on security and climate change over four decades. The findings show linkages between climate change, sustainability, renewable energy, energy security and new conceptual associations that influence diverse academic research. Pearson correlation for statistical analysis results showed strong dependencies between variables, consistent with the values represented using the Google Ngram Viewer platform.

Conclusions. This study provides an overview of the circulation of concepts in the energy and climate change sectors within digitalised academic literature, mapping emergent conceptual trends over the selected period. The visualisation of the modelling analysis correlates with the temporal frequencies, as classified by the research sections. It organises data using graphical representations of energy resources and climate change concerning sustainable development and security.

Comparative Approach and Risk Factors in Business Valuation of Shares in Non-Public Companies

2025-06-29T10:03:38+00:00

Introduction. This study examines the methodological considerations involved in applying the comparative approach and incorporating risk factors when assessing shares in the capital of non-public companies. The lack of open market information significantly complicates the objective assessment of the value of such companies, particularly in the Bulgarian market.

Aim and tasks. This study aims to derive the value of a share of a non-public company by comparing it with public companies and making necessary adjustments with a discount for size and specific risk.

Results. This study applies a comparative approach to the valuation of companies listed on the Bulgarian capital market based on economic indicators for 2021-2023. The value of a company's share was determined based on financial multiples (IC/RI, IC/EVA, ROE, etc.) and a comparative approach, with adjustments for uncontrollability, liquidity, company size, and specific risks. Based on the calculated multiples, companies with higher profitability and efficiency indicators (ROE, ROA, and ROIC) demonstrated better financial stability and competitiveness. For example, ROE values ranged from 0.09 to 0.84, ROA from -0.013 to 0.28, and ROIC from 0.008 to 0.64, with the best performers showing consistently positive results. In contrast, companies with poor or negative performance across most ratios may face higher risk exposure and ineffective management. This is evidenced by extremely low or negative values for IC/RI (–68.99 to 14.42) and IC/EVA (–1,066.39 to 20.11), reflecting inefficient capital allocation and weak value creation. Negative ROA (–0.012) and low ROIC (0.008 to 0.039) suggest potential operational inefficiencies.

Conclusions. The comparative approach to business valuation enables the estimation of the value of a privately held (closed-type) company by applying appropriate adjustments to the financial data of comparable publicly traded (open-type) companies. This study proposes an algorithm for determining a company’s share when considering controlling/non-controlling, the degree of liquidity of a block of shares, size, and specific risk through a comparative valuation approach. Applying such an algorithm in valuation practice is primarily based on the valuer’s professional experience. It can be advantageously used when valuing privately held companies.

Analysis of the Financial Management and Business Performance Implications of Income Tax Accounting Policy

2025-06-29T10:05:30+00:00

Introduction. Amid economic instability, an increasing tax burden, and changing legislation, developing an effective accounting policy that optimises tax liabilities is crucial. Accounting policy in forming corporate income tax is a multifunctional tool that allows for taking into account tax risks, increasing financial transparency, and facilitating the development of an effective strategy for managing costs and financial resources.

Aim and tasks. This study examines the theoretical, practical, and legal aspects of income tax accounting policy to develop a model for determining the corporate income tax base and assess its impact on financial management and business performance.

Results. A model for forming an accounting policy aimed at determining the corporate income tax base based on the instruments of the tax system and accounting has been developed. The model ensures a balanced tax burden, compliance with state requirements, and legitimate tax reduction through an optimal choice of accounting methods. The structure of the regulatory framework is presented, and the impact of accounting policy on income tax revenues on Ukraine's budget and the state's fiscal stability is analysed. Although macroeconomic fluctuations significantly affected tax revenues (particularly the decline in 2022), the model contributed to a 34.3% increase in revenues to the state budget of Ukraine (+845.8 million euros) from 2019 to 2023. The most substantial growth was recorded in 2021 (+35.9%), coinciding with the active application of elements of the optimised accounting policy. This indicates the model's ability to adapt to a favourable economic environment and maximise the tax potential of enterprises.

Conclusions. The structure of the legal framework for accounting policy ensures increased transparency of accounting processes and efficiency of income tax administration in compliance with key accounting and taxation principles. Implementing this structure allows not only the elimination of inconsistencies between accounting and tax standards but also the development of a unified methodological approach to determining the corporate income tax base. The introduction of a model for accounting policy will allow the optimisation of tax obligations while ensuring transparency and legality in interaction with tax authorities.

Demographic Dividend and Labour Market Dynamics: An Empirical Analysis of Socio-Economic Transition and Policy Implications

2025-06-29T10:06:32+00:00

Introduction. Despite macroeconomic improvements, Georgia has faced a persistent negative demographic dividend that has held back economic growth over the past two decades. This study combines dependency ratios, unemployment, self-employment, and informal employment characteristics using an innovative algorithm. Considering its unique informal sector, this approach provides a more realistic picture of Georgia’s demographic and economic dynamics.

Aim and tasks. This study aims to empirically assess the impact of the demographic situation in Georgia on labour market dynamics and the socio-economic transition using a modified algorithm, regression analysis, and CGE modelling to identify necessary reforms and develop evidence-based policy recommendations to facilitate the realisation of the demographic dividend.

Results. The study confirms that, despite GDP and wage growth, Georgia has experienced a persistently negative demographic dividend over the past two decades. Traditional dependency ratios fail to reflect the specifics of Georgia’s highly informal and underemployed labour market. Regression analysis and the Granger causality test show that dependent unemployment and cost increases are the key drivers behind the negative trend. Empirical data show a decline in net demographic returns: -€35.96 million (2002-2012) and -€89.91 million (2013-2023), indicating that employees are unable to pay dependent expenses, especially in 2022. Regression (R² = 96%) confirmed the negative impact of dependency burden and expenses, while the falling birth rate had only a weak offsetting effect. Granger tests revealed that the size of the dependent population, food expenditures and mortality rates predict future dividend values, confirming the relevance of the planning model. Evidence strongly suggests that without structural reforms in labour, social, and health policies and productivity boosts, Georgia’s demographic trends will continue to hinder economic growth rather than support it.

Conclusions. The study concludes that without targeted reforms in the labour market, healthcare, and economic planning, Georgia will not be able to turn demographic changes into economic benefits. The presented model emphasises the influence of demographic factors on socio-economic development and the importance of aligning demographic trends with effective economic policies.

Digital Technology Management and Resource Efficiency in Agricultural Production

2025-06-29T10:07:20+00:00

Introduction. The active adoption of digital tools is crucial for improving agricultural efficiency, which is fundamental to ensuring food security. The digitalisation of agricultural production is a key component of the measures for transitioning to a digital economy.

Aim and tasks. This study aims to assess the relationship between the net profit of agricultural enterprises and the number of digital products used. It also seeks to identify the factors influencing the efficiency of agricultural production.

Results. This study examines at several key factors of agricultural production. First, it considers at the share of the labour force involved in agricultural production, which has declined by 17.2% globally, 7% in the EU, and 5.2% in Ukraine. Secondly, it analyses changes in the number of workers required to produce 1% of value added from 1991 to 2023, showing a decline of 3% globally, 1.5% in the EU and an increase of 0.5% in Ukraine. Thirdly, the study assesses the level of digital skills among workers in the agricultural sector. In the EU, this level did not exceed 0.5% from 2016 to 2024, while Ukraine data is unavailable. Finally, the study includes case studies of two Ukrainian companies engaged in developing and implementing digital tools for agricultural production. The findings regarding the dependence of net profit and the number of digital instruments used revealed relatively high correlation coefficients: 0.776 for a group of 41 AGRIChain clients and 0.902 for a group of 34 Kernel Digital clients. The resulting models of net profit dependence on the number of digital instruments used (with slope coefficients of 365.9 for AGRIChain and 13.13 for Kernel Digital) indicate the potential for further refinement.

Conclusions. The establishment of a digital support system for agricultural production involves significant changes in employee competencies, a decrease in the total number of employees, and a reduction in the share of employees involved in agricultural production. Ukraine is characterised by an increase in the number of workers employed in agricultural production per 1% of added value, which is explained by structural changes in the industry. This study proposes adding metrics to statistical reporting to capture the number of digital technologies used in the production process and the number of employees skilled in using these technologies.

Marketing Strategy Development in the Management of Industrial Enterprise Competitiveness

2025-06-29T10:13:44+00:00

Introduction. The rapid changes in external and internal factors form the features that ensure the competitiveness of enterprises. This requires not only a revision of marketing strategies and their objectives, but also a reconsideration of approaches to developing long-term marketing plans, as external conditions are constantly evolving. Therefore, the lack of resources for the functioning of marketing departments with a simultaneous increase in tasks necessitates a well-founded choice of the latest marketing tools.

Aim and tasks. This study aims to determine the key factors affecting the development and implementation of marketing strategies in industrial enterprises and to construct a mathematical model for forecasting and selecting effective tools to enhance the competitiveness and adaptability of the Ukrainian industry.

Results. Marketing strategies amid hostilities have revealed the low adaptability of Ukrainian enterprises, as evidenced by a decrease in repeat purchases to approximately 0.51 and a reduction in purchase frequency for around 66% of companies. Therefore, marketing services are more likely to use digital technologies in advertising (39%) and to expand the customer base (34%). This suggests that optimising marketing expenditures should be achieved through the selection of the most effective tools. For this purpose, an aggregate mathematical model is developed to forecast the digital marketing market. Innovations in marketing and production contributed to the growth of Ukraine’s position in the Global Innovation Index by 11 points in 2024 compared with 2021, ensuring the preservation of competitiveness and stability of exports. This relationship is confirmed by the correlation coefficients between exports and specific marketing strategies: 0.6559 for influencer marketing and 0.78282 for search engine optimisation.

Conclusions. The study outlines the specific features of marketing strategies under wartime conditions and offers practical recommendations for their application. It identifies the adaptability level of Ukrainian enterprises at 60% and proposes measures to enhance it. An adaptive iterative approach for achieving long-term goals in real time is introduced. Furthermore, a modified dissipative structures framework is applied to identify the most promising marketing tools, with the markets for social media marketing and television advertising projected to grow by 30% and 32%, respectively, in 2026 compared to 2025.

Assessment of Agricultural Biomass Potential in Sustainable Biofuel Production

2025-06-29T10:14:38+00:00

Introduction. The depletion of fossil energy sources, climate change, and the need to strengthen energy security underscore the strategic importance of bioenergy. Ukraine’s agricultural potential creates the prerequisites for transforming its agro-industrial complex to produce renewable biofuels, which is critically important for achieving energy independence, sustainable rural development, and fulfilling commitments under the European Green Deal. The need to diversify energy sources and reduce dependence on imported fossil fuels makes agricultural biomass (agribiomass) a key resource for sustainable energy production.

Aim and tasks. This study aims to comprehensively assess the raw material potential of agribiomass in Ukraine's agro-industrial complex for biofuel production, analyse projected indicators for the development of global and European biofuel markets, and determine the prospects for the integration of Ukrainian producers into the EU market.

Results. The analysis showed that Ukraine has significant agribiomass potential, particularly from agricultural waste, such as cereals, oilseeds, sugar beets, and livestock manure. An analysis of the global and European biofuel markets revealed steady growth in demand for liquid biofuels (up to 130 Mtoe globally and 21 Mtoe in the EU by 2024), biogas and biomethane (up to 52 Mtoe globally and 28 Mtoe in the EU), and solid biomass (up to 535 Mtoe globally and 58 Mtoe in the EU). An assessment of the agricultural waste potential in Ukraine for 2024 revealed a significant potential for biofuels, amounting to 134.4 thousand tons, 1.8 thousand tons of biodiesel, and 4.1 million m³ of biogas. According to the forecast, in 2026-2030, electricity production at bioenergy plants in Ukraine will grow by 29.25%, mainly due to an increase in biomass production by 31.37%. The EU specialises in advanced biofuels and biomethane, which creates favourable export opportunities for Ukrainian producers.

Conclusions. The effective utilisation of Ukraine’s agribiomass potential, combined with technological innovations and supportive government policies, will not only meet its energy needs and strengthen energy independence. It will also significantly contribute to the decarbonisation of the European economy and the strengthening of energy security. For successful integration into the EU market, Ukrainian producers should overcome barriers such as price instability, supply reliability, and biofuel quality, which requires the creation of a transparent and competitive market and harmonisation of standards.

Strategic Risk Management of Digital Transformation in the Economic Security of Industrial Enterprises

2025-06-29T10:16:24+00:00

Introduction. Digital transformation has become a determinant factor influencing enterprises’ economic security, especially during crises and global concurrences. Despite its numerous advantages, digitalisation poses new risks, such as cyber threats, regulatory instability, and information leaks. Digitalisation as an infrastructure for innovation has become a strategic priority, primarily through the extension of digital government services, cloud resolutions, and metadata analytical tools to support the economic development of industry enterprises.

Aim and tasks. This study aims to develop an integrated system of strategic risk management for digital transformation in industry enterprises’ economic security to minimise economic losses, increase adaptiveness to digital changes, and eliminate risks in industry enterprises’ economic security.

Results. This study analyses modern approaches to ensuring economic security: systemic, risk-oriented, resource-oriented, and integrated approaches. The analysis revealed that only 25.6% of IT enterprises utilise Big Data analytics, while 7.1% employ AI technologies, highlighting the substantial untapped potential for further digital transformation. This study developed a structural model of a digital economic security management platform, including risk analytics, threat management, cyber protection, monitoring, and reporting. A formalised risk estimation model was built, considering financial, operational, and external factors. An integrated approach is suggested to build a digital platform for the management of enterprises’ economic security, which combines risk-oriented methods, cyber-protection, and big data analytics.

Conclusions. This study proposes an approach for digital transformation in economic security management, featuring module architecture to monitor, forecast, and respond to threats. It presents formalised module architecture and a platform structural model for economic security monitoring, comprising four subsystems: financial, operational, risk-oriented, and external factors. The model enables rational resource allocation, threat forecasting, and adaptive decision-making in post-conflict scenarios. Enterprise digital transformation in strategic management and economic security is a key requirement for restoring, strengthening, and safeguarding the national interest.

Lacustrine Ecosystems of the Steppe Dnipro Region: Typology, Ecological Status Assessment and Conservation Value

2025-06-29T10:17:12+00:00

Introduction. Lacustrine ecosystems are crucial and irreplaceable in biodiversity conservation and provide specific ecosystem services. Although systematic long-term studies on the inventory and typology of lakes worldwide have been conducted, the issue remains poorly understood in the Steppe Dnipro region of Ukraine. Although lacustrine systems are vulnerable and characterised by significant diversity, this requires early environmental assessment and implementation of management plans to ensure their conservation.

Aim and tasks. This study aimed to develop a typological scheme for open-type lake ecosystems in the Steppe Dnipro region with a set of typological criteria that can be combined to perform various applied environmental tasks, including the assessment of the ecological state of water bodies, inventory, environmental monitoring, and study of the dynamics of lake systems in the context of climate change.

Results. The regional typological scheme was developed based on international and regional experience in the field of ecosystem classification (New Broad Typology for European Rivers and Lakes). The criteria are based on the generalisation of long-term studies of lake ecosystems in the region as components of the regional ecological network. In total, 53 criteria were identified, and a separate typological scheme with fewer criteria was developed for man-made reservoirs. The typology was adapted for use in GIS projects, where each criterion has a range of values. Tabular examples of the application of the typological scheme to identify typologically similar water bodies and for the rapid assessment of their ecological status are presented.

Conclusions. The regional typological scheme allows for the distinction of water body types by various combinations of criteria. In practice, it is convenient to quickly create samples of lakes that are similar in certain respects for specific environmental or economic tasks. Further work with the scheme involves filling in the dataset, refining the parameters, and creating lake clusters using cluster analysis algorithms. After verification, the typological scheme can be transformed into a public web portal with the functions of an open database of data on lake-type reservoirs (with the possibility of updating and supplementing) and used to assess the ecological status and track current changes in the ecosystems of lakes and man-made reservoirs in the region.