https://repository.hneu.edu.ua/handle/123456789/36416 2026-04-03T21:09:41Z https://repository.hneu.edu.ua/handle/123456789/38978 Назва: The impact of financial intermediation efficiency on Thailand’s total factor productivity Автори: Chansarn Supachet Короткий огляд (реферат): This study aimed to measure Thailand’s total factor productivity and also investigate the impact of financial intermediation efficiency on it during 2001-2024. The financial intermediation efficiency in this study was measured by three indicators, including interest rate spread, business sector credit ratio and non-performing loans ratio. Additionally, the growth accounting equation was applied to calculated the total factor productivity growth rate, whereas Autoregressive Distributed Lag model was employed to examine the impact of financial intermediation efficiency on it. The findings revealed that Thailand’s total factor productivity growth was volatile over the study period, with several years of negative performance, and that its average growth rate was only 0.15% per year. The long-run results from Autoregressive Distributed Lag model indicate that financial intermediation efficiency significantly affects total factor productivity growth in the long run as business sector credit has a positive effect on total factor productivity growth, while non-performing loans exert a negative impact on it. However, the interest rate spread does not affect total factor productivity growth in the long run. In the short run, the results further confirmed that total factor productivity growth is significantly determined by financial intermediation efficiency. Specifically, the change in business sector credit has the positive effect on the change in total factor productivity growth whereas the change in interest rate spread has the negative impact on it. Nevertheless, the change in non-performing loan does not have any effect on the change in total factor productivity growth in the short run. The findings provide practical guidance for policymakers and financial regulators in improving credit allocation and supporting productivity-driven economic growth. 2025-01-01T00:00:00Z https://repository.hneu.edu.ua/handle/123456789/38970 Назва: Effectiveness of Internet of Things migration into hybrid economic projects Автори: Rahimov Jeyhun; Rahimov Elshan; Allahverdiyeva Naila; Nasirzade Aydin Короткий огляд (реферат): The study aimed to scientifically substantiate the economic feasibility of migrating hybrid economic projects to Internet of Things technology solutions and to identify the conditions under which such migration would deliver sustainable economic benefits. The methodological framework included comparative economic, structuraldynamic and scenario analysis, sensitivity assessment and financial modelling based on the calculation of net present value, return on investment, total cost of ownership and integral economic efficiency indicator. The empirical base covered data from Azerbaijan’s logistics, agricultural and industrial segments for 2021-2025. The results showed that digitalisation provides economic benefits and stabilises revenue streams in all sectors studied. In logistics, the introduction of Internet of Things technologies reduces operational delays by 43% and transaction costs by 17%, resulting in a significant increase in profitability. In the agricultural sector, the use of sensor systems reduces operating costs by 18.8% and risk costs by 17.4%, reducing the total cost of ownership by 12.7%. In the industry, modernisation increases average annual revenues to 162,000 manats while reducing total costs to 298,000 manats, generating maximum net present value in an optimistic scenario. The integrated economic efficiency model revealed cross-sector differences: logistics demonstrates the most stable results, while industry has the greatest potential but remains sensitive to the cost of capital and the level of digital risks. The results confirm that the economic efficiency of digital migration is achieved by reducing operating costs, mitigating risks, increasing benefits, and complying with the architectural compatibility requirements of digital systems. The practical significance of the study is determined by the fact that the identified dependencies make it possible to develop economically sound scenarios for the implementation of Internet of Things in key sectors of Azerbaijan and to more accurately predict the expected effects at different cost levels and technological conditions. 2025-01-01T00:00:00Z https://repository.hneu.edu.ua/handle/123456789/38969 Назва: Economic potential of natural healing assets: International market trends, business models, and prospects for Ukraine Автори: Sryberko A. Короткий огляд (реферат): The economic recovery of nations following extensive conflict requires the strategic capitalisation of highvalue, domestic assets capable of generating robust revenue and restoring depleted human capital. Ukraine’s globally significant Natural Healing Assets (NHA) represent such a strategic priority. The study aimed to conduct a comprehensive analysis of international business experience in using NHA to develop practical recommendations for their effective use in Ukraine. The methodology involved systematic analysis, generalisation, and synthesis of data from numerous international reports and academic articles, utilising comparative analysis to assess global market criteria and business models. The concept of NHA was defined as resources recorded in state registers and utilised for profit or social benefit. A detailed analysis of global entrepreneurial markets utilising NHA was conducted. It was identified that the largest markets by volume by 2028 will be wellness tourism (1,359.3 billion USD), bottled water production (438.5 billion USD), and ecotourism (422.3 billion USD). Key criteria (stability, investment attractiveness, sustainability) for nine market segments were systematised, confirming that the growth rates of all NHA markets exceed the CAGR of World GDP. The three main international models for NHA integration (Public, Private, and Public-Private Partnership) were analysed, establishing that the optimal model depends on the specific asset and strategic goals. Comprehensive practical recommendations for Ukraine were developed, identifying medical rehabilitation as a key priority. The research findings provide entrepreneurs, investors, and government authorities in Ukraine with an evidence-based framework for selecting optimal business models and priority investment directions for NHA use. 2025-01-01T00:00:00Z https://repository.hneu.edu.ua/handle/123456789/38968 Назва: Growth hacking as a driver of innovative development of start-ups: Between marketing and product Автори: Smuk I. Короткий огляд (реферат): The aim of this study was to determine how tools of high-speed experimentation and data analysis can strengthen the innovative development of start-ups and increase the effectiveness of aligning marketing and product decisions. The methodology was based on a theoretical-empirical approach and included the systematisation of academic sources, the analysis of digital platforms, the comparison of technology companies and the study of practical cases that reflected the use of experimentation, recommendation models and optimisation of user experience. The results established that models with an emphasis on the product as the main growth tool ensured higher financial performance: companies that applied a product-led growth approach demonstrated an average annual increase in Annual Recurring Revenue of 35%, whereas companies with traditional approaches achieved only 26%, and customer acquisition costs in product-oriented businesses were 39% lower. The significance of experimentation cycles was confirmed by the high intensity of tests: the company Nebula conducted 612 experiments in 2024, which helped to increase conversions on average by 4-7%. Optimisation of user experience, researched on the example of Duolingo, provided an increase in user retention of 15-25%, while speeding up the process of first use of the product increased user activation by 10-30%. The most powerful viral mechanism proved to be recommendation models: the example of Dropbox demonstrated growth of 3,900%, and the number of users increased from 100 thousand to more than 4 million, which confirmed the effectiveness of viral dissemination cycles. The practical significance of this study lies in the fact that its results can be used by start-ups to build effective growth mechanisms, optimise product-marketing decisions and increase the effectiveness of experimentation. 2025-01-01T00:00:00Z