Prof. Dr. Liudmyla Petrenko

Articles in Refereed Journals

Petrenko, Liudmyla; Puzko, Sergii; Lavrenenko, Valentyna; Gernego, Iuliia (2024). Fostering Sustainable Packaging Industry: Global Trends and Challenges, European Journal of Sustainable Development, 13 (2), 63-78. DOI

• The article is focused on the examination of market dynamics of eco-friendly packaging both in Ukraine, the European Union and globally. This involves a comprehensive analysis of companies operating within the eco-friendly packaging sector with a focus on understanding their methodologies and tactics for introducing new products into the market. It investigates the prevailing trends and primary catalysts shaping the regulation, consumption, and production patterns of eco-friendly packaging on a global scale. This considers a broad spectrum of factors, including the rising trend of on-the-go food consumption, concerns environmental sustainability and human health, governmental initiatives, and strategic collaborations across various industries. These factors collectively contribute to the expansion of the eco-friendly packaging industry, enhancing its efficacy and allure for investment. The research provides overview of important trends and main challenges, causing discussions in the context of fostering sustainable packaging industry. In particular, there are discussion about the long-term environmental effect of certain materials and eco technologies. There is a complexity in understanding the diversified legislative basis for sustainable packaging industry development in different countries. There is also an area for discussions on the issue of consumer’s understanding of eco-friendly packaging advantages. Additionally, the research explores shifts in consumer preferences, the integration of novel technologies in packaging material manufacturing, and the establishment of standards and regulations governing eco-friendly packaging. It focuses on evaluating the growth trajectory of the eco-packaging sector and the operational strategies adopted by companies within this domain specifically in Ukraine. This analysis encompasses an assessment of financial metrics, innovative methodologies, market competition dynamics, and other pertinent variables influencing the performance and viability of companies operating in this sector within the Ukrainian market context.

Gernego, Iuliia; Petrenko, Liudmyla; Lavrynenko, Valentyna; Dyba, Mykhailo (2024). Trends and Focuses for ESG Investment Support: A Cross Country Comparative Analysis, European Journal of Sustainable Development, 13 (1), 167-184. DOI

• Currently, the modern society faces a measure of challenges, connected with the lack of balance between the economic and social development issue. This has caused the growing recognition of sustainable and responsible practices within the financial decisions making process, providing a measure of transformations of both financial and business landscape, contributing to a more equitable and environmentally conscious society. The modern researches in finance are significantly influenced by the increasing demand for ESG, the strengthening of ESG principles implementation in wealth and assets management. According to PwC researches, the ESG-oriented assets under management market in Europe is already about 172 % in compartment with 2021 year, the forecasted increase till 2026 year will be nearly 50 % comparing to the current volume. Thereby, there is an urgent need to summarize the theoretical descriptions of ESG investing along with the current trends of particular ESG components transformation along with the considering analytical research on trends and focuses for ESG investing’s support. The current research problem lays in the highlighting the functionality of ESG-oriented activity and its investment attractiveness trough the overview of theoretical definitions of ESG, comparing with the Trends and focuses for ESG investing’s support within the representative sampling on countries from the World Bank’s databases. The study is focused on the detailed analysis of separate indicators within a group of ten different countries. “Agricultural land”, “Electricity production from coal sources” and “CO2 emissions” indicators are analyzed within the environmental component. The social component of ESG is represented by the “Government expenditure on education” and “Individuals using the Internet” indicators. The “Regulatory Quality”, “Rule of Law” and “Voice and Accountability” indicators are considered as a part of governmental component. The chosen countries (Denmark, Finland, France, Germany, Japan, Norway, Poland, Ukraine, United Kingdom and the United States of America) represent deferent environment and approaches to ESG management and its investment support. The current research aims to represent the possibility to balance the ESG components, creating synergetic effect in case of their combinations. In particular, the attention is paid to the instruments of monetary and fiscal policy to balance ESG in the COVID-19 time. The elaboration of possible scenarios of ESG’s components balancing is possible in case of implementation of systematic measures to monitor debt sustainability and increase the transparency of banking institutions' balance sheets along with the developing the targeted measures to maintain an adequate level of liquidity and solvency of national economies, and coordination of national strategies and policies.

Contributions to Collected Editions

Shulha, Oleksandr; Lavrenenko, Valentyna; Petrenko, Liudmyla; Mozgalli, Olga; Tereshchenko, Yulia; Tishkov, Bohdan (2024). Digital Entrepreneurial Potential: Assessing Business Models of Internet Companies, in: Proceedings – International Conference on Advanced Computer Information Technologies, ACIT (Ceske Budejovice, Czech Republic, 19-21 September 2024), 338-344 2024. DOI

• The article presents the results of the development and testing of a multifactorial mathematical model for assessing the digital entrepreneurial potential of Internet companies, which is proposed to be considered as a combination of economic, technical and marketing components, based on the data of the largest Ukrainian Internet companies. The assessment model is based on the use of fuzzy logic and MATLAB mathematical modelling tools. The proposed approach is universal and, with the adjustment of some parameters, the model can be used to analyses any business model of Internet entrepreneurship. The developed tools, due to their structural and logical nature, offer a wide range of analytical capabilities to provide procedures for intellectual support of management decisions, as they allow to identify weaknesses in the company’s activities based on the assessment of the digital economic potential indicator.

Gernego, Iuliia; Tymoshenko, Oleksandr; Dyba, Mykhailo; Urvantseva, Svitlana; Petrenko, Liudmyla (2024). Digitalization in Venture Capital Relocation in Wartime, in: Proceedings – International Conference on Advanced Computer Information Technologies, ACIT (Ceske Budejovice, Czech Republic, 19-21 September 2024), 275-279, Budejovice. DOI

• This article provides an overview of digitalization impact on venture capital relocation during wartime. Despite the full-scale war challenges, Ukrainian startups have managed to maintain operations and even expand their activity through digitalization. The study uses a mixed-methods approach; including literature review, case analysis and data collection, to understand the role of digital technologies in venture capital relocation strategies. Three case studies are examined: Liki 24 in the pharmaceutical sector, Mate Academy in IT education, and Carbominer in clean technology. These cases illustrate how digitalization enables resilience, innovation, and internationalization, mitigating the relocation challenges on venture businesses. Overall, the research emphasizes the transformative potential of digitalization in facilitating venture capital relocation and fostering economic growth.

Shulha, Oleksandr; Lavrenenko, Valentyna; Petrenko, Liudmyla; Mozgalli, Olga; Tereshchenko, Yulia; Tishkov, Bohdan (2024). Development of the Ukrainian E-Commerce Market in the Face of Uncertainty and Risks, in: Proceedings – International Conference on Advanced Computer Information Technologies, ACIT (Ceske Budejovice, Czech Republic, 19-21 September 2024), 345-350 2024. DOI

• The article identifies and analyzes the main factors influencing the formation and development of e-commerce in Ukraine in the context of uncertainty and risks, analyzes the audience of online shoppers on the largest Internet platforms, and the distribution of traffic by information sources used by domestic consumers when making online orders. Attention is paid to the peculiarities of e-commerce development in the context of the COVID19 pandemic and Russia’s full-scale invasion of Ukraine, the market dynamics are studied, and the typology of successful e-commerce business models in Ukraine, such as a manufacturer’s website, electronic bulletin board, e-shop, marketplace, electronic order table, is allocated. Methodological proposals for the implementation of the considered tools for the development of e-commerce business models in the current conditions of uncertainty have been developed.

Kolosinska, Anna; Petrenko, Liudmyla (2024). Artificial Intelligence as an Innovative Component of Personal Finance Management, in: Innovative Entrepreneurship: Status and Development Prospects: Proceedings of the IX International Scientific and Practical Conference (Kyiv, 29 March 2024), 261-264 2024.

• The study highlights how the integration of artificial intelligence into personal financial management applications can transform financial planning through personalization, automation and prediction, greatly increasing the efficiency and accessibility of financial management for users.
• Дослідження висвітлює, як інтеграція штучного інтелекту в додатки для управління особистими фінансами може трансформувати фінансове планування через персоналізацію, автоматизацію та прогнозування, значно підвищуючи ефективність та доступність фінансового управління для користувачів.

Trushkina, Anna; Petrenko, Liudmyla (2024). Tourism Development in Times of Military Conflicts: Prospects for Ukraine on the Examples of Croatia, Georgia, and Israel, in: Innovative Entrepreneurship: Status and Development Prospects: Proceedings of the IX International Scientific and Practical Conference (Kyiv, 29 March 2024), 138-142 2024.

• Geographical location, political decisions, historical context, transport infrastructure, and economic efficiency will be key factors for the growth of Ukraine's tourism sector after the war. The experience of other countries in post-war tourism recovery should serve as a foundation for creating a Ukrainian strategy for tourism development and recovery.
• Географічне розташування, політичні рішення, історичний контекст, транспортна інфраструктура та економічна ефективність будуть ключовими факторами для росту туристичного сектору в Україні після війни. Досвід інших країн у відновленні повоєнної туристичної індустрії має слугувати фундаментом для створення української стратегії розвитку та відновлення туризму.

Gernego, Iuliia; Petrenko, Liudmyla; Lavrenenko, Valentyna; Dyba, Mykhailo (2024). Challenges and Opportunities of ESG Investing, in: New Trends in Contemporary Economics, Business and Management. Selected Proceedings of the 14th International Scientific Conference “Business and Management 2024, 395-402. Vilnius: Vilnius Tech. DOI

• The main purpose of the article is to define the main challenges of ESG investing and propose key opportunities to foster its growth by considering the essential characteristics of ESG investing. The aim is developed within key objectives, including: provide a theoretical framework for ESG investing, exam the current global trends of sustainable economy development and ESG investing, identify the key challenges, and explore potential opportunities of ESG investing. Emphasizing practical application of the current research, it is relevant for devising strategies in both business and national economies. The article offers a comprehensive analysis of ESG investing dynamics by use of a measure of methods, including analytical, descriptive, and case study methods. The research results in development of ESG investing maps, SWOT analysis, and core principles for integrating ESG criteria into strategic social and economic frameworks. The practical significance of ESG investing topic is deeply connected with the necessity for its further exploration and implementation in business and national economic strategies.

Petrenko, Liudmyla (2024). The Resilience of the Ukrainian Pharmaceutical Industry During the 2022-2023 War Years, in: Daria Kim (ed.), Rebuilding Ukraine - The Case of the Health Sector (Max Planck Institute for Innovation and Competition Research Paper, No. 24-02), 16-23. Munich: Max-Planck-Institute for Innovation and Competition.

• Market and industry resilience in wartime is poorly understood in the
  literature. The Ukrainian pharmaceutical industry is an illustrative case
  of resilience during the war, as against a GDP decline of 30% in 2022, in
  the first half of 2023 the pharma industry already returned to pre-war
  production rates. As the study shows, the shock and panic in the market
  lasted only for the first two weeks of the war. The industry’s resilience is
  positively affected by the concentration of the full cycle, from drug
  development to production, geographically mainly in the Kyiv region,
  which is relatively sheltered from bombing. Its resilience is also influenced
  by the specialisation of pharmaceutical companies in the production of
  generics, which do not require huge investments in development and are
  oriented towards the affordability of medicines. Patients are responsible
  for more than 85% of the market’s demand, which has made
  pharmaceutical companies’ sales insensitive to war-related cuts in
  government support for healthcare. The high level of resilience is also
  attributed to the relative stability of the market demand for generics
  produced in Ukraine, which even increases as the population becomes
  poorer, and the expansion of pharmacy activities in safe regions following
  population migration. This study is based on recent data from pharmacy
  market operators as well as national statistics.