Financial sustainability of a Ukrainian university due to the COVID-19 pandemic: A calculative approach
In 2020, due to the COVID-19 pandemic, university funding in Ukraine suffered significant losses due to unprecedented quarantine measures. The challenge for universities is to diversify funding sources, develop effective approaches to minimize existing and prevent future threats to ensure their fina...
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2021-12-01
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| Series: | Investment Management & Financial Innovations |
| Subjects: | |
| Online Access: | https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/15911/IMFI_2021_04_Kapustia.pdf |
| _version_ | 1826909290427842560 |
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| author | Olena Kapustian Yulia Petlenko Anton Ryzhov Ganna Kharlamova |
| author_facet | Olena Kapustian Yulia Petlenko Anton Ryzhov Ganna Kharlamova |
| author_sort | Olena Kapustian |
| collection | DOAJ |
| description | In 2020, due to the COVID-19 pandemic, university funding in Ukraine suffered significant losses due to unprecedented quarantine measures. The challenge for universities is to diversify funding sources, develop effective approaches to minimize existing and prevent future threats to ensure their financial stabilization (sustainability) in the post-pandemic period. The paper aims to consider financial sustainability of a university (the case of Taras Shevchenko National University of Kyiv) due to COVID-19 using the objective calculative approach on the statistical sample of data for 2011–2020. The tasks for achieving the aim are seen in determining, using regression methods, the number of lost receipts from general and special funds in the short and medium term, which will maintain a constant value of receipts at constant assets. The main idea of the paper is that financial sustainability is considered as a condition, and stabilization is considered as a process towards stability/sustainability. The modeling approach reveals a fragile list of factors for the future preventing measures of the University to sustain. It is estimated that the University’s top management should consider financial strategy in dollar terms only. The challenge is that funding in hryvnia seems to be quite increasing and linear, but indeed, funding of the University is non-linear and has a quite intensive downward trend. Thus, for the financial sustainability strategy, this fact should be crucial.The results indicate the need for a significant increase in university funding to mitigate the impact of macroeconomic instability due to various crises, including the COVID-19 pandemic.
AcknowledgmentThe study is carried out under the grant funded from the National Research Fund of Ukraine within the competition Science for Human Security and Society, topic 2020.01/0265. |
| first_indexed | 2024-12-18T10:13:19Z |
| format | Article |
| id | doaj.art-bb3898e3aa0b4e3585a0b6b3892c1929 |
| institution | Directory Open Access Journal |
| issn | 1810-4967 1812-9358 |
| language | English |
| last_indexed | 2025-02-17T09:39:21Z |
| publishDate | 2021-12-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Investment Management & Financial Innovations |
| spelling | doaj.art-bb3898e3aa0b4e3585a0b6b3892c19292025-01-02T08:52:18ZengLLC "CPC "Business Perspectives"Investment Management & Financial Innovations1810-49671812-93582021-12-0118434035410.21511/imfi.18(4).2021.2815911Financial sustainability of a Ukrainian university due to the COVID-19 pandemic: A calculative approachOlena Kapustian0https://orcid.org/0000-0002-2629-0750Yulia Petlenko1https://orcid.org/0000-0001-5984-5145Anton Ryzhov2https://orcid.org/0000-0003-4099-0742Ganna Kharlamova3https://orcid.org/0000-0003-3614-712XDr. Sci. (Physics & Mathematics), Senior Researcher, Deputy Dean for Science and International Work, Faculty of Computer Science and Cybernetics, Taras Shevchenko National University of Kyiv,Ph.D. (Economics), Associate Professor, Associated Professor of the Department of Finance, Faculty of Economics, Taras Shevchenko National University of KyivPh.D. (Physics & Mathematics), Associate Professor, Associated Professor of the Department of General Mathematics, Mechanics and Mathematics Faculty, Taras Shevchenko National University of Kyiv Dr. Habil. In Economics, Associate Professor of Economic Cybernetics Department, Faculty of Economics, Taras Shevchenko National University of KyivIn 2020, due to the COVID-19 pandemic, university funding in Ukraine suffered significant losses due to unprecedented quarantine measures. The challenge for universities is to diversify funding sources, develop effective approaches to minimize existing and prevent future threats to ensure their financial stabilization (sustainability) in the post-pandemic period. The paper aims to consider financial sustainability of a university (the case of Taras Shevchenko National University of Kyiv) due to COVID-19 using the objective calculative approach on the statistical sample of data for 2011–2020. The tasks for achieving the aim are seen in determining, using regression methods, the number of lost receipts from general and special funds in the short and medium term, which will maintain a constant value of receipts at constant assets. The main idea of the paper is that financial sustainability is considered as a condition, and stabilization is considered as a process towards stability/sustainability. The modeling approach reveals a fragile list of factors for the future preventing measures of the University to sustain. It is estimated that the University’s top management should consider financial strategy in dollar terms only. The challenge is that funding in hryvnia seems to be quite increasing and linear, but indeed, funding of the University is non-linear and has a quite intensive downward trend. Thus, for the financial sustainability strategy, this fact should be crucial.The results indicate the need for a significant increase in university funding to mitigate the impact of macroeconomic instability due to various crises, including the COVID-19 pandemic. AcknowledgmentThe study is carried out under the grant funded from the National Research Fund of Ukraine within the competition Science for Human Security and Society, topic 2020.01/0265.https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/15911/IMFI_2021_04_Kapustia.pdfforecastinggeneral fundsregressionspecial fundstrenduniversity funding |
| spellingShingle | Olena Kapustian Yulia Petlenko Anton Ryzhov Ganna Kharlamova Financial sustainability of a Ukrainian university due to the COVID-19 pandemic: A calculative approach Investment Management & Financial Innovations forecasting general funds regression special funds trend university funding |
| title | Financial sustainability of a Ukrainian university due to the COVID-19 pandemic: A calculative approach |
| title_full | Financial sustainability of a Ukrainian university due to the COVID-19 pandemic: A calculative approach |
| title_fullStr | Financial sustainability of a Ukrainian university due to the COVID-19 pandemic: A calculative approach |
| title_full_unstemmed | Financial sustainability of a Ukrainian university due to the COVID-19 pandemic: A calculative approach |
| title_short | Financial sustainability of a Ukrainian university due to the COVID-19 pandemic: A calculative approach |
| title_sort | financial sustainability of a ukrainian university due to the covid 19 pandemic a calculative approach |
| topic | forecasting general funds regression special funds trend university funding |
| url | https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/15911/IMFI_2021_04_Kapustia.pdf |
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