Purpose of the research. Investigate formats for managing the value of international corporate structures, taking into account the formation of digital assets, and develop recommendations for introducing precise modifications to the management of the value of international corporations in the digital economy. Design/Method/Plan of the reseach. Systematic, synergistic, conceptual and methodological approaches are used, involving the use of the method of analysis and synthesis, modeling, formalization, methods of statistical and economic analysis, modeling, expert support and evaluation. Results of the research. The formation of a new external environment of corporations - the "digital environment" - is substantiated as a space for the manifestation of competitive advantages of the digital transformation of the economy, which is characterized by a clarification of the influence of digitalization on the activities of international corporate structures. The factors of increasing the cost in the digital environment are identified, being based on the developed modified approach, which takes into account both the change of the previously known cost factors in the digital environment and the emergence of new, previously unformulated cost factors, which allow to create a scenario of the economic activity of the corporation in the digital environment, to establish the dependence of the selected factors cost and will divide the factors acting in the formation of the digital environment, and the factors that manifest themselves directly in the digital economy. The concept of cost management of the corporation has been developed, in terms of assessing the new external corporate environment, taking into account the influence of digital factors, identifying new cost levers, taking into account radical changes in technological processes, including recommendations on the adaptation of new digital cost management tools, which allows assessing the digital component of the growth of modern markets and takes into account both the creation and destruction of value under the influence of the digital economy. The theoretical significance of the research. The role of the digital economy in relation to the models and tools of corporate governance has been determined. The points of contact and interaction of corporate strategies and the process of business digitalization based on the effective management of the value of the corporation have been studied. The practical significance of the research. The results and recommendations of the study can be implemented in long-term programs for the digitalization of international corporate governance practices and digital support for the development or adaptation of corporate strategies in order to implement the complex potential of the corporation. Originality/Value/Scientific novelty of the research. The specificity of the implementation of digital economy tools in the organizational formats of the activities of international corporate structures has been studied. Modified models for improving corporate value management based on blockchain technologies and digital cost control as part of a corporate strategy have been proposed. Prospects for further research. The obtained results of the research can be used in the context of the development of national and branch programs for digitalization of corporate management and the implementation of digital technologies in the model of corporatization of enterprises and organizations of various forms of ownership. Article type. Theoretical. JEL Classification: F23, L19, O33

The article observes the relevance and substantiates the need to raise the problem of tourism development in the countries of the Black Sea region (Turkey, Ukraine, the Russian Federation, Georgia, Romania and Bulgaria) on the basis of sustainability. Systematization of approaches to the definition of «sustainable development of tourism», «sustainable tourism» and «tourism constancy» has conditioned the elaboration of a sustainable tourism development model, the elements of which are the needs of tourists, tourism resources, tourism services, types of tourism, tourism activities, subjects - tourist, tourist enterprise, destinations and the state (management). It was determined that the achievement of sustainable tourism development in the country should be evaluated from the standpoint of meeting the needs of tourists and considering the factors such as security, sustainable tourism services, economic and environmental sustainability, socio-cultural sustainability, the country’s basic sustainaility and political and regulatory constancy. During the study, the needs of the tourist were identified (cognition, recognition and his acceptance of the cultural, historical, national heritage of the destination, the development of spiritual potential and self-development), which act as a driving force for the growth of demand for sustainable types of tourism. It was found that satisfying the physiological needs of a tourist, his staying in a safe environment, confirming his social, professional, family status is associated with mass tourism, and does not fully contribute to the achievement of sustainable development goals. It is determined that the development of tourism in the Black Sea countries is characterized by a high loading on tourist facilities and irregular tourist flows, the irrational use of natural resources, and the continuous expansion of infrastructure that allows only fragmentary observance of the principles of sustainable development . To assess the sustainability of tourism in the countries of the region, we used the author’s methodology for ranking the factors of the tourism sustainability index. Calculations demonstrated that the most important factors for tourists in the Black Sea region are the factor of safety, tourism services and the basic state of stability of the country, which is based on the level of food technology usage; the presence of harmful industries in the country; unemployment rate in the country; the importance of tradition in everyday life; international openness safety factors, tourist services and the basic condition of stability of the country. Environmental sustainability and a sociocultural strategy have a moderate impact. In the ranking of the countries of the Black Sea region according to the calculated tourism sustainability index, Georgia took the first place, and Ukraine received the lowest indicator. By the method of cluster analysis, the countries of the Black Sea region were combined into three clusters. The first cluster was formed by Turkey - a country that has a developed system of mass tourism and actively contributes to its reorientation continuously. The second cluster includes Bulgaria, Romania and Georgia, which combine the processes of active development of traditional and sustainable tourism. In the third cluster, which includes Russia and Ukraine, the development of tourism on the principles of sustainability practically does not occur.

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Purpose – to assess the integration and management of the formation and implementation of the competitive advantages of the Visegrad Four countries in the European market of information, computer, telecommunication (ICT) services based on their analysis in the individual market segments. Design/Method/Research approach - this study aims to determine the presence and nature of the competitive advantages of countries in the European ICT services market based on the calculation of export specialization indicators, to establish factors for their growth and effective implementation based on the results of structural, regressive, comparative analysis and synthesis. Findings. It has been suggested that the introduction of the European rules for market organization stimulated the building-up in the Visegrad Four countries of their competitive advantages in the European ICT services market through innovative investment resources, effective management of private, public sector and international investors and personnel. Practical implications. The accession of Eastern European countries to the European digital market and digital space requires a generalization of the experience of the Visegrad four countries and the identification of factors, directions and priorities of the national policy for the development of the ICT sector. Originality/Value. Scientific novelty of the study - based on the calculation of the comparative advantage index, different integration and effectiveness of managing the competitive advantages of the Visegrad Four countries, primarily the sphere of IC services to the European market (relatively high - in the Czech Republic due to state financing, moderate – in Poland due to financial support from the state, in Slovakia due to private investment in R&D, low – in Hungary), this situation requires a balanced innovation and investment strategy of the countries in the future, the training of a sufficient number of qualified IT specialists, stimulation of private investment in R&D and business cooperation with the sphere of knowledge by means of tax and administrative incentives, facilitating the transition of small and medium-sized businesses on the principles of economics 4.0. Paper type – empirical.

Preservation of the environment, the sphere of the vital activity of the population, cultural heritage, promotion of the healthy lifestyle movement, the implementation of the “green” and resource saving technologies create more active demand for organic goods in the international trade. The ecological, social, economic and institutional merits of organic goods compared with traditional and genetically modified goods as well as the high pace of the growth of the international trade in organic agricultural goods enhance their role in the achievement of the goals of sustainable development. The article considers the international trade in organic goods as sustainable international trade. Based on the authors’ methods of the calculation of the integrated index of development of organic market of 15 developing countries, the positions, factors, prospects and conditions of the development of national markets of organic agricultural goods were identified. It was found that the market of organic goods of the Czech Republic is the most developed and balanced due to the high payment capacity of the population, the policy of the producer’s support, existence of the relevant certification of the produce during delivery to the EU market. The markets of the countries of Europe and Middle East (Poland, Romania, Turkey, and Ukraine) are growing mainly under the influence of supply factors; the markets of Asia and America (China, Brazil and Peru) – under the influence of demand factors, including the demand in the global market. The internal markets of China and India are developed insufficiently. The prospects of the development of markets of organic goods of Mexico, Brazil, India, China, Russia and Chili are related to the stimulation of the internal production of organic goods. In Ukraine, Peru, India, Chili, Mexico and Turkey, it is appropriate to popularize consumption of organic goods. Romania, Czech Republic, Brazil, Turkey, Ukraine and Russia have to facilitate the promotion of their own organic goods to the world market. It was found that a relatively high payment capable demand in the internal market is a necessary condition, and the growth of the share of organic goods in the export structure of the countries is an obligatory condition to enhance the positions of the countries in the global market of organic goods. The condition of an increase in the role of the countries developing in the world market of organic goods and the transition of the world economy to the principles of sustainable development were substantiated.