Abstract

The article aims to summarize the main determinants that affect the business’s level of financial security and financial stability. Based on the bibliometric analysis, the authors identified the main areas of research on financial security and the stability of the business. They conducted a comparative analysis of trends in the number of publications on these issues. With the help of VOSviewer tools, the main economic categories that are most closely related to financial security and sustainability of business were identified. The paper substantiates that economic, innovation, and marketing determinants in various combinations could significantly affect the financial security and sustainability of the business. Based on the systematization of existing scientific achievements, the authors proposed a methodological approach to assessing the business’s financial security level. The authors hypothesized the statistically significant impact of economic, innovative, and marketing determinants on the level of financial security of the business. The information base of the study is the World Bank and the International Monetary Fund data. Dickey-Fuller test and Johansen test were used to test the hypothesis. The validity of the results and the nature of the relationship between the indicators were tested by constructing the equation of end-to-end regression (Wald test), regression with fixed individual effects (Brush-Pegan test), and regression with random individual effects (Hausman test). According to the study results, measures to increase the level of financial security of business and minimize the negative impact of certain determinants were proposed.

Keywords: financial security, innovative development, marketing determinants, sustainability of the business, economic development.

JEL Classification: F52, H56, E02.

Cite as: Taghieva, T., & Tiutiunyk, I. (2022). Innovative, Economic and Marketing Determinants of Financial Security and Sustainability of Business. Marketing and Management of Innovations, 1, 176-185. https://doi.org/10.21272/mmi.2022.1-13

This work is licensed under a Creative Commons Attribution 4.0 International License

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