Issue #1 (Volume 1 2017)

This literature review evaluates empirical studies which concentrate on economic effects on joint audits from an international perspective. We briefly introduce the theoretical and empirical joint audit framework that comprises an adequate structure of the state-of-the-art of empirical research in this field. This is followed by a discussion of the following output factors of joint audits: (1) audit quality; (2) audit costs and (3) audit market concentration. We will summarize the key findings in each area, and provide a description of the analyzed proxies. Finally, we will discuss the current limitations of the studies and give useful recommendations for future empirical research activities in this topic.

The paper is devoted to research of existing variants of land reform in Ukraine towards cancelling the moratorium on the sale-purchase of agricultural lands. The authors prove that the financial function of the land is realized insufficiently, which is connected with the absence of open land market and ineffective functioning of state land regulation financial mechanism. The aim of the paper is to substantiate the directions of state land regulation in Ukraine on the basis of evaluating the economic effect of cancelling the moratorium on the sale-purchase of agricultural lands. The authors analyzed three most likely variants of land reform at the current stage of Ukraine’s economy development, and calculated economic effect from its implementation. Based on the calculations, conclusion is made about the feasibility of gradually cancelling the moratorium, which corresponds to third variant under study, which is offered to be implemented in two stages: 1) sale of state and community lands; 2) sale of private lands. Economic effect of implementing such a variant, calculated by the authors, gives a possibility to create additional annual cash flow to local budgets in the amount of 68-83 %, which is more than the revenue of other variants described in the paper. It is proven that for possibility to put the variant offered into practice, it is necessary to observe some prerequisites (organizational, financial, legal and regulatory), valuation of which enabled to offer the directions to improve state land regulation, the realization of which would favor the full functioning of agricultural land market.

The sustained idea of this article is that the concept of imitation has not been sufficiently developed in the field of strategic management and has often been confused with the notion of mimicry. Therefore, the objective of this research is to emphasize the distinction between different types of imitation unlike a lot of research on companies imitative behavior focused on one type as the perfect imitation. This will clarify ambiguities in the literature on imitation, and show that the mobilization of neo institutional theory is not sufficient to explain all the imitative behavior of organizations in a market.

Public interest entities and public companies as their representatives should be an example in implementing of sustainable development initiatives (sustainable development goals of the United Nations, development strategy «Europe-2020», «Sustainable Development Strategy»Ukraine-2020») in the light of Association agreement. Main challenges for Ukrainian public companies are non-financial information disclosure and assurance of both financial and non-financial reporting through statutory audit. Key prospects of public companies accounting system reform were outlined in this regard. This research may contribute to the existing literature in regard of identifying key areas of improving financial and non-financial information PIEs disclosure as well as its independent verification through statutory audit. This improvement should incorporate European experience and provision of Directive 2014/95 / EU, Directive 2013/34 / EU, Directive 2014/56 / EU and Regulation (EU) no. 537/2014. Among the promising areas of research, introduction of integrated reporting for Ukrainian PIEs is worth noting.

The paper investigates issues, concerning financial planning at the enterprise. Methods and models of financial forecasting are analyzed and their unification is proposed. The main problems of financial instruments using (such as financial planning) are described. Planning is important element of management, which ensures achievement of strategic priorities. Effective financial planning is essential tool of achieving of the main goals of the enterprise - profit maximization and cost of the enterprise. As market conditions in Ukrainian market of goods and services have its own specificity, which is defined, on the one hand, by means of analysis, formation and allocation of financial resources, and, on the other hand, the sources of reserves increasing, in order to implement the operating and investment activities to ensure their sustainable financial development. It should be noted that the formation of these processes has a significant impact on both objective and subjective factors, such as instability of tax policy and regulatory legislation for national currency, the impact of the global economic crisis, reducing the resources and available current assets etc.

Thus, the increasing volatility of external environment requires managerial entities to speed decision-making and direct financial planning and forecasting, in order to reduce the impact of exogenous and endogenous factors on the financial activities of enterprises.

The article deals with the impact of financialization on economic growth in countries of Central and Eastern Europe. It determinesthe impact of imbalances in the movement of financial resources caused by financialization on economic growth of these countries. It proves that the implementation of measures aimed at increasing the openness of the economy and maintaining solvent demand have a positive impact on economic growth of the surveyed countries in the long run. It also proves the importance of developing a set of measures of strategic nature regulating imbalances in the movement of financial resources caused by financialization.