Assessment of key parameters for clustering EU countries by socio-economic development components

The article is dedicated to the solution of the relevant issue, concerning management of enterprise`s financial sustainability. Financial sustainability assessment is one of the most important principles of enterprise`s activity, which provides information about financial capabilities of the company at the time of its evaluation and for the future. It is a requirement for the enterprise activity, which provides a high level of competitiveness, efficiency and intensity. Thus, the restoration and strengthening of financial sustainability is a priority task for the enterprise, a basic precondition for its effective functioning. The purpose of the research is to analyze financial sustainability and to improve the methods and approaches of its evaluation. The following methods were used in this research: financial and economic analysis, economic and mathematical modeling, analysis and synthesis, comparison. The main results of the study are following: the theoretical and essential characteristics of enterprise financial sustainability has been determined; the financial status of PJSC “Turboatom” has been analyzed; the taxonomic index of financial sustainability has been calculated and the forecast of its significance has been made, the approaches to increase enterprise financial sustainability have been proposed.

The widespread use of information and communication technologies and subsequent transformations have led to the formation of a digital economy (DE). The European Union, as an international organization, has become the subject of building such an economy, striving to bring member countries closer in the field of digitalization.
The aim of this paper is to compare the DE development parameters of the EU countries based on cluster analysis and determine the most significant of them to solve the problems of bridging the digital divide between countries. For clustering, a feature DE vector of 20 indicators was created and the k-means algorithm and the Euclidean distance metric were used. For classification, the decision tree method was applied.
Three clusters of EU countries were identified by the level of DE development (leaders, followers and outsiders), which allowed assessing their positions relative to each other. Key parameters that determine countries’ positions in the general rating are identified. A parameter chart is generated to control the establishment of DE in the EU countries, which, in addition to key parameters, includes maximum, minimum and harmonic mean values of these parameters by cluster. This characterizes the landscape of DE development in the EU countries, assesses the digital divide and is the basis for decision-making in the area of bridging this divide.

The article examines the competitiveness of Ukrainian banks influenced by economy digitalization, the dynamic spread of electronic payments and e-commerce, as well as innovative technologies aimed at providing digital services. When shifting to an Online Platform business model, a bank can expand its range of banking products, attract more customers, thereby forming a competition policy and gaining competitive advantages. The paper aims to assess the digitalization level affecting the general competitiveness of banks and its components based on Ukrainian banks. For this purpose, the following methods were used: standardized input statistical indicators, comparison and ranking, a cluster analysis, and a regression and correlation analysis. The cluster analysis confirmed the current role of digitalization as a competition driver that determines the competitive advantages of banks and creates additional opportunities to expand the customer base and the range of services. The correlation and regression dependence of the competitive position identified by the activity indicators of certain banks on the level of competitive digitalization confirmed a close direct impact on the competitive position of personal deposits arising from the development of digital banking technology; the pre-tax income, profiles of assets and personal loans, and corporate deposits are subject to a significant direct impact, while the weakest direct impact determines corporate loans. The foregoing substantiates the feasibility of large-scale introduction of innovative digital technologies by banks to maintain competitive positions in the banking sector of the economy. Applying the proposed approach based on certain regression equations, managers of Ukrainian banks will be able to assess the efficiency and make appropriate decisions concerning investing in digital tools and services.