DIRECTIONS FOR FINANCING THE RECOVERY OF SOCIAL CAPITAL IN THE MINING INDUSTRY

Authors

  • O. O. Klokar Private higher educational institution «University of Economics and Business»
  • I. Perevozova Ivano-Frankivsk National Technical University University of Oil and Gas
  • E. Rozdobudko Representative Office of Public Company «University «Interregional Academy of Management Personnel» «Distance Learning Center «Kamensky Institute»
  • A. Opalenko Cherkasy State Technological University

DOI:

https://doi.org/10.18371/fcaptp.v4i35.222482

Keywords:

social capital, mining industry, employee, financial component, material incentives, moral incentives

Abstract

The formation of a multi-vector market economy in Ukraine, the successful implementation of all reforms to this effect and the improvement of the citizens’ welfare is impossible without the effective implementation of financial components of the comprehensive recovery of social capital, primarily in the mining industry. However, the unstable socio-economic and political situation in the country significantly impeded the implementation of reforms in the aforementioned area, which adversely affected its individual indicators. This situation destabilizes and slows down the socio-economic development of all stakeholders in the mining industry. Therefore, topical issues at the present stage of the industry’s development are the definition of common effective principles for the comprehensive recovery of the resource potential of all its economic entities.

The research question of the article is a set of methodological, methodical and practical directions for financing the complex recovery of social capital in the mining industry. At the same time, its goal is the formulation and characterization of directions for the financial recovery of social capital in the mining industry and the development of measures for their effective implementation.

Furthermore, the results of the study reflect the socio-economic nature of the category «social capital in the mining industry». Therefore, it is treated as a set of psychological, physiological, moral, ethical, economic and other personal qualities and capabilities of each mining worker, who represent their main resource and advantage over other people, in the process of their adaptation and effective implementation in a particular social field (social environment) on macro-, as well as micro-levels. It has also been determined that the scope of application of the directions for financial recovery of the social capital in the mining industry and their improvement encompasses separate recoveryal directions for the material, moral (psychological) and social treatment of workers in this sector.

The scientific novelty of the results obtained is the identification, justification and analysis of the scheme to formulate directions for financing of the recovery of social capital in the mining industry. Also, an integral part is the nature of the attitude of population groups of different social, age, sex and professional compositions to the financing of social capital recovery in the mining industry of certain regions in Ukraine. The relevance of this study is also confirmed by the transformation of socio-economic relations in all spheres of public activity of the country in the context of globalization.

The obtained research results allow us to draw the conclusion that they represent the basis for the study and practical solution on the issue of a complex recovery of social capital in the mining industry. This approach presupposes, first of all, the creation of high material, social, and moral (psychological) incentives for specialists in this sector and, consequently, the enhancement of their motivation as employees and quality of their results, as well as financial and economic activities of mining enterprises.

Author Biographies

O. O. Klokar, Private higher educational institution «University of Economics and Business»

Doctor of Economics, Associate Professor, Professor of Accounting, Auditing and Finance Department

I. Perevozova, Ivano-Frankivsk National Technical University University of Oil and Gas

Doctor of Economics, Professor, Institute of Economics and Management, Head of the Department Entrepreneurship and Marketing

E. Rozdobudko, Representative Office of Public Company «University «Interregional Academy of Management Personnel» «Distance Learning Center «Kamensky Institute»

Ph. D. in Economics, Associate Professor, Deputy Director

A. Opalenko, Cherkasy State Technological University

Ph. D. in Economics,  Associate Professor of the Department of Economic Cybernetics and Marketing

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Published

2020-12-24

Issue

Section

The social-humanitarian context of transformational finance-economical processes