Maksym Zhytar

The development of the corporate securities market and the effective use of tools for its regulation cannot be achieved without models and methods of economic and mathematical modeling. The aim is to analyze and systematize the structural and temporal characteristics of the corporate securities market in Ukraine by applying economic and mathematical modeling methods. In the paper, linear interpolation is used to assess the temporal characteristics of corporate securities under market uncertainty. Descriptive and simulation modeling methods are also applied to carry out a formal description of the process of evaluating the structural characteristics of securities. The result of the study involves developing a descriptive model to analyze the structural and temporal characteristics of the Ukrainian corporate securities market. The approbation of the proposed model makes it possible to draw the following conclusions. First, Perspektiva Stock Exchange, Ukrainian Exchange and PFTS – the First Stock Trading System, are the most important trading platforms. They are determined by the monthly bidding dynamics and can belong to the same group – active players in the corporate securities market of Ukraine. Second, in terms of endogenous priorities, the development of the corporate securities market is mostly influenced by inflation rates (consumer price index), economic development indicators (key branches production index) and interest rates on alternative financial instruments (new deposit interest rates of deposit-taking corporations). Third, the rate of corporate securities issue and the native currency rate do not significantly affect the corporate securities market development, in particular, the former is characterized by a slight negative impact, and the latter – by a slight positive impact on the price dynamics.

In an environment where public funding is insufficient to meet international climate and energy goals, feed-in tariffs serve as an essential mechanism to mitigate investment risk and foster the participation of insurance companies as institutional investors in the renewable energy sector. This study aims to investigate whether feed-in tariff policies enhance the evolving effect of insurance sector development on renewable energy consumption across countries and over time. Given that both financial sector capacity and renewable energy transitions are dynamic processes, the analysis explicitly applies econometric techniques designed to capture temporal changes and investment inertia. Using panel data econometric techniques, including fixed effects models with cluster-robust standard errors and dynamic panel estimation (Arellano-Bond GMM), the analysis covers 64 countries from 2000 to 2020. The results reveal that greater insurance sector assets positively correlate with higher renewable energy consumption, with a coefficient of 0.143 (p < 0.01) in the fixed effects model. Still, the strength and significance of this relationship are notably enhanced when feed-in tariffs are in place, as shown by a positive and statistically significant interaction term (coefficient 0.051, p < 0.05) after adding time-fixed effects. The empirical results show that insurance companies can serve as critical institutional investors in the renewable energy sector. Still, their active participation critically depends on supportive policy frameworks, with the positive association between insurance company assets and renewable energy consumption becoming significant, particularly in countries with feed-in tariff schemes.

Acknowledgment
This study was prepared as part of the project IZURZ1_224119/1 (Swiss National Science Foundation) and the National Scholarship Programme of the Slovak Republic.
The publication was funded by the European Union grant “NextGenerationEU through the Recovery and Resilience Plan for Slovakia” (No. 09I03-03-V01-00130) and project VEGA – 1/0392/23 “Changes in the approach to the creation of companies’ distribution management concepts influenced by the effects of social and economic crises caused by the global pandemic and increased security risks.”

The effectiveness of anti-money laundering systems is vital for national economic resilience, especially in transitional economies facing wartime challenges, such as Ukraine. This study aims to identify key managerial determinants of the effectiveness of Ukraine’s anti-money laundering and counter-terrorist financing (AML/CFT) system and to develop evidence-based recommendations for improving its performance. Based on data from Ukrainian national institutions for the period 2011–2023, the study employs principal component analysis and multiple linear regression to evaluate 44 statistical indicators related to institutional workload, procedural efficiency, and inter-agency coordination. The findings reveal that a small set of indicators, including the volume of suspicious transaction reports from non-banking institutions, the number of dossiers compiled, and the backlog of unresolved judicial cases, explain over 70% of the system’s output variance. The final model exhibits high explanatory power (R² = 0.963), underscoring the importance of prioritizing high-impact operational metrics. The study concludes that targeted procedural reforms and enhanced coordination between institutions can significantly strengthen AML/CFT outcomes in fragile and reforming contexts.

Acknowledgment
This study was supported by the Ministry of Education and Science of Ukraine (project No. 0123U101945 – National security of Ukraine through prevention of financial fraud and money laundering: war and post-war challenges).

Type of the article: Research Article

Abstract
Open science is increasingly recognized as an innovative educational tool for developing creativity, idea generation and problem-solving skills in higher education, with potential implications for marketing-oriented learning. This study examines how students’ engagement with open science practices is associated with their perceptions of creativity and problem-solving with particular attention to open data, open educational resources, open scientific publications and barriers to adoption. The empirical analysis is based on a cross-sectional survey of 2,250 students from Ukrainian higher education institutions. Descriptive statistics, Spearman’s rank correlation coefficients, a correlation matrix and ordinal logistic regression models were applied in RStudio. The results show that the frequency of open science use is positively associated with the overall perceived creative value of open science (ρ = 0.498, p < 0.001). Among specific open science elements, the strongest correlations with use frequency are observed for open data (ρ = 0.295), open educational resources (ρ = 0.260) and open scientific publications (ρ = 0.240). Ordinal logistic regression shows that the overall perceived creative value of open science is the factor most strongly associated with reported open science use (β = 1.236; OR = 3.440; p < 0.001), while open data and open educational resources are also positively associated with engagement. Barriers have weaker associations, although lack of instructor support is negatively related to students’ perception of open science’s creative value (β = –0.092; OR = 0.912; p = 0.015). The findings suggest that open science practices may support marketing-relevant competencies, including evidence-based thinking, data interpretation, creative communication and innovation-oriented problem-solving.

Acknowledgments
This research was funded by an EU grant “Immersive Marketing in Education: Model Testing and Consumers’ Behavior” under the project No. 09I03-03-V04-00522/2024/VA, by the Cultural and Educational Grant Agency of the Ministry of Education, Science, Research and Sport of the Slovak Republic under the project “Innovative business models in relation to Generation Z consumer behavior towards economic decarbonization activities” under project No. KEGA 026EU-4/2026 and by the Ministry of Education and Science of Ukraine “Modeling and forecasting of socioeconomic consequences of higher education and science reforms in wartime” under the project No. 0124U000545.