Digitalization of Economic Security Management in Investment Security of Ukraine


Abstract

Introduction. The study of economic security is relevant due to strengthening competition in the world market and military conflicts, which are becoming critical tasks for the state. Studying economic security makes it possible to identify the problematic aspects of a country's economy, find solutions, and develop strategies to ensure a sustainable investment policy. The specifics of changes in organizational models associated with digitalization also transform investment management systems. The most significant digital changes affect economic security, as the high openness of companies contributes to the emergence of various threats and risks to their activities. Therefore, it is essential to study the problems related to the risks of digital transformation within the framework of economic security management in the investment provision of Ukraine.

Aim and tasks.  The purpose of the study is to analyse problems and develop a recommendation for assessing the level of economic security when developing investment projects, taking into account the risks of digital transformation, for better preparation for future projects of post-war reconstruction in Ukraine.

The results. This study developed a conceptual model for assessing the level of economic security, which includes the systematization of critical indicators of economic security and the organization of ensuring end-to-end transparency of information during the implementation of investment projects for the post-war reconstruction of Ukraine based on intelligent technologies. Software for assessing economic security using machine learning methods is proposed, which will allow forecasting the state of the enterprise's economic security for the entire implementation period of the investment project.

Conclusions. This research proved that an enterprise's economic security is a complex and integral economic concept that requires studying the influence of several external and internal factors. Therefore, the established approach to assessing the state of economic security should cover all current investment processes and risks that arise in the context of the digitalization of enterprises, influencing the choice of critical indicators. Post-war reconstruction should be based on the modernization of the economy by improving the security of the business environment (reducing corruption, ensuring private property rights and strengthening the security of business activities) and the transition to a digital society.

Keywords:

digitalization, economic security, investment, forecasting, management decisions, cybersecurity.

References

Boston Consulting Group. (2023). Reaching New Heights in Uncertain Times. Most Innovative Companies 2023. https://www.bcg.com
Cabinet of Ministers of Ukraine. (2022). Ukraine Recovery Plan. https://recovery.gov.ua
Freedman, L., & Williams, H. (2023). Changing the Narrative: Information Campaigns, Strategy and Crisis Escalation in the Digital Age.
Gearhart, A., Booth, D. T., Sedivec, K., & Schauer, C. (2013). Use of Kendall’s coefficient of concordance to assess agreement among observers of very high resolution imagery. Geocarto International, 28(6), 517–526. https://doi.org/10.1080/10106049.2012.725775
Hrynkevych, O., Bunyak, V., Kvak, S., & Hrynkevych, V. (2023). Investments in the system of social and economic security factors and recovery of the Ukraine region economies. Visnyk of the Lviv University. Series Economics, 64, 19–32. http://dx.doi.org/10.30970/ves.2023.64.0.6406
Koval, V., Kaminskyi, O., Brednyova, V., & Kosharska, L. (2022). Digital Ecosystem Model of Labour Resources Management in Economic Militarism. Revista Gestion de las Personas y Tecnologia,, 15(45), 21. https://doi.org/10.35588/gpt.v14i45.5902
Marquez-Tejon, J., Jimenez-Partearroyo, M., Benito-Osorio, D. (2022). Security as a key contributor to organisational resilience: a bibliometric analysis of enterprise security risk management. SecurJ35, 600–627 https://doi.org/10.1057/s41284-021-00292-4
Marton, P. (2023). Economic Security. In The Palgrave Encyclopedia of Global Security Studies (pp. 366–371). Springer International Publishing.
MinfinMedia. (2023). Foreign direct investment. https://index.minfin.com.ua/ua/economy/fdi
Ministry of Digital Transformation of Ukraine. (2022). Digital transformation Index of regions of Ukraine: results of 2022. https://thedigital.gov.ua/
Moore, R. J. (2021). Emerging from war: Public policy and patterns of foreign direct investment recovery in postwar environments. Journal of International Business Policy, 4(4), 455–475. https://doi.org/10.1057/s42214-020-00084-4
OECD. (2022). Digitalisation for recovery in Ukraine. https://www.oecd.org/ukraine-hub/policy-responses/digitalisation-for-recovery-in-ukraine-c5477864.
OECD. (2011) Guide to Measuring the Information Society 2011, OECD, Paris.
Peng, Y., & Tao, C. (2022). Can digital transformation promote enterprise performance?—From the perspective of public policy and innovation. Journal of Innovation & Knowledge, 7(3), 100198. https://doi.org/10.1016/j.jik.2022.100198
Pravdyvets, O. (2022) Economic security as the supreme function of the state. Scientific Notes of the University “KROK”, 2(66), 40–43. https://doi.org/10.31732/2663-2209-2022-66-40-43
Redkva, O., Koval, V., Filipishyna, L., Vuychenko, M. (2022) Model of ensuring economic security in mechanical engineering. Access to Science, Business, Innovation in Digital Economy, 3(3), 264-277. https://doi.org/10.46656/access.2022.3.3(6)
Romanovska, Y., Kozachenko, G., Pogorelov, Y., Pomazun, O., & Redko, K. (2022). Problems of development of economic security in Ukraine: Challenges and opportunities. Financial and Credit Activity Problems of Theory and Practice, 5(46), 249–257. https://doi.org/10.55643/fcaptp.5.46.2022.3906
Schwertner, K. (2017). Digital transformation of business. Trakia Journal of Sciences, 15(1), 388-393.
USAID. (2023). A new Ukraine: catalyzing investment in freedom, peace, and prosperity. The USAID Economic Development, Governance and Enterprise Growth (EDGE) Project.
Virlics, A. (2013). Investment decision making and risk. Procedia Economics and Finance, 6, 169–177. https://doi.org/10.1016/s2212-5671(13)00129-9
Published
2023-12-29
How to Cite
(1)
Kalinin, O.; Kaminsky, O.; Teslenko, T. Digitalization of Economic Security Management in Investment Security of Ukraine. Economics Ecology Socium 2023, 7, 83-95.