Over the last five years, Ukraine suffers from armed conflicts that cause substantial losses in the state budget. In this context, shaping the prospects and developing measures for the post-conflict reconstruction of the state and its economy is an important problem. The very possibility and the effectiveness of such measures will depend on the country's financial potential as well as on the financial strength of its entities. This potential is dynamic and influenced by information technology, without which any institution cannot go.Given the particular significance of the financial potential IT-transformation, the role of digital forms of money, crowdfunding and initial coin offering (ICO) was identified. It is substantiated that while overcoming the consequences of military conflicts, their implementation facilitates the attraction and acceleration of the financial resources movement. By generalizing the developments and practical experience of Ukrainian fintech-companies, the principles of such developments application for assessing the external financial environment of economic entities and conducting financial analysis have been shaped.

Annotation. Introduction. The article considers the influence of the capital structure on the efficiency of communal enterprises of passenger land transport. It is revealed that the return on assets of municipal transport enterprises of Ukraine is lower in comparison with other transport enterprises. The analysis of profitability of assets of the largest municipal enterprises of passenger land transport of Ukraine is carried out. Purpose. It is determined that the activities of enterprises are financed by equity and tend to reduce the share of this item of liabilities in the balance sheet. The dynamics of changes in current and absolute liquidity ratios was estimated and it was found that the average values of current liquidity ratios exceeded the recommended value by 100%. The deterioration of the financial condition of utility companies for passenger land transport has been proved by analyzing the indicators of absolute and rapid liquidity. It is substantiated that equity is the main source of financing the activities of municipal enterprises of passenger land transport. The negative impact of the growth of the share of borrowed capital on the return on assets is characterized. Results. The usage of a linear regression model is proposed to confirm the assumption about the relationship between the profitability of enterprises with their capital structure. To build the econometric model, return on assets was determined as a dependent value, and as factors — the share of current liabilities in the balance sheet currency and the share of long-term liabilities in the balance sheet currency. Conclusions. Trends in the change of financial condition are revealed and a model of panel data with fixed effects is built. The importance of choosing a model with fixed effects of panel data is substantiated. The regularities of the influence of the capital structure on the efficiency of communal enterprises of passenger land transport of Ukraine are proved. Keywords: equity; sources of financing; liquidity, capital structure; public transport.

IMpAct of solvency AnD BusIness ActIvIty on profItABIlIty of MInInG coMpAnIes In uKrAIne purpose. To identify the relationship between the profitability of mining companies and their solvency as well as business activ ity for making sound management decisions based on the formation of a formalized forecasting model, taking into account the scale and type of economic activity. Methodology. The empirical basis of the study was formed based on key financial statements of 75 mining companies in Ukraine in 2014-2018 presented by the Youcontrol system. To achieve this goal, using the tool of correlationregression analysis, a linear regression model was developed. It describes the dependence of the profitability of the assets on the equity ratio (share of equity in the total volume of sources of financing), asset turnover (ratio of revenue to average annual assets) based on the principal activity according to the Classifier of Economic Activity) and the scale of the business (based on annual revenue). findings. The proposed formalized forecasting model makes it possible to identify and evaluate the relationship between the profitability of mining companies and their solvency and business activity, taking into account the influence of the economies of scale and the characteristics of economic activity. Using the proposed model allows us to draw the following conclusions on plan ning directions for attracting internal or external sources of financing by companies: firstly, focusing on internal sources of financing of companies will have a greater effect compared to the use of credit re sources (given the overload of companies in the extractive industry with debts, when developing a financial strategy, the priority should be the restructuring of obligations, the conversion of debt into the property, securitization); secondly, taking into account the influence of the factor of economies of scale in the mining industry determines the priority of state policy to support small businesses and create conditions for increasing the concentration of capital; thirdly, given the cityforming nature of companies in this industry, it is justified to maintain existing and launch new pro grams of financial support for companies, taking into account social consequences of the possible bankruptcy of such companies. Formalization of the proposed areas allows mining companies to choose their future financial development strategy. originality. A formalized forecasting model is formed that allows identifying and evaluating the relationship between the prof itability of mining companies and their solvency, as well as business activity, taking into account the influence of scale factors and characteristics of economic activity. Using the proposed model will contribute to the adoption of effective decisions on planning directions for attracting internal or external sources of financing by companies, choosing a future strategy for their development based on state financial support programs, introducing innovative forms of financing (securitization)...

The article is devoted to the study of fiscal and monetary components of state`s financial policy and their coordination after the completion of hostilities. The urgency of the topic is determined by the need to find an optimal (in terms of economic system) strategy of interaction between the government and the central bank in the conditions of post-conflict recovery. The purpose of the article is to summarize the world experience of formation of fiscal and monetary policy as well as their coordination in order to effectively overcome the consequences of military conflicts. The author analyzes the data on the post-war development of 12 countries that succeeded in restoring their national economies during the first decade after the end of hostilities (Angola, Cambodia, the Republic of Congo, Croatia, Georgia, Indonesia, Liberia, Macedonia, Serbia, Sierra Leone, Solomon Islands, Tajikistan) As a result, the author discovers a gradual transition from the fixed and regulated exchange rate regime to the floating exchange rate in the long-term perspective, reduction of inflation and interest rates on loans, as well as a gradual increase of GDP and the net inflow of foreign direct investments, while the share of tax revenues and public expenditures in GDP remained stable. On the basis of generalization of the world experience the conclusion was made about the key role of central banks in ensuring economic growth in the context of post-conflict recovery by ensuring price stability and stimulating lending. In addition, the importance of geographic location and availability of natural resources in the restoration of the national economy of some countries was emphasized.

Purpose. To identify patterns of profitability of IT enterprises by quantitative evaluation of the relationship of profitability of enterprises with the structure of capital and assets, taking into account the level of business activity and the main economic activity, as well as the formation of appropriate recommendations. Methodology. The empirical basis of the study was the aggregate performance of enterprises whose main economic activity belongs to Chapter 62 of the NACE “Computer programming, consultancy and related activities” during 2013–2020. Correlation and regression analysis was used to build a multifactor model of linear regression, which describes the dependence of return on assets from the ratio of long-term and short-term liabilities and provisions to liabilities of the balance sheet, the ratio of current assets to balance sheet assets, total assets and main economic activity. Findings. It has been established that the capital structure of IT companies is unsatisfactory due to the dependence on external sources of funding, including current liabilities, which have a negative impact on return on assets. It has been found that the structure of assets is dominated by current assets, the growth of which has a positive impact on the profitability of enterprises in the industry. This indicates the need to optimize non-current assets, given the level of their involvement in the production process. It is proved that by expanding markets, it is possible to ensure further growth in profitability of enterprises in the industry, as business activity has a positive effect on return on assets. The return on assets varies depending on the main type of economic activity. Originality. The relationship is identified between the efficiency of IT companies and the structure of their capital and assets, business activity and type of economic activity. Practical value. The applied value of the study is the ability to predict the profitability of assets of IT companies depending on the structure of sources of funding for their activities and areas of asset placement, business activity and the main type of economic activity. The recommendations can be used to improve the state policy of digital economy in terms of justifying the need to encourage business owners to reinvest profits, to involve enterprises more actively in national digital projects and support the product business model.