Global Journal of Environmental Science and Management
Volume:5 Issue: 3, Summer 2019

The tightening of the European Union climate and energy policy, directed to raising the resilience and effectiveness of the European Union Emissions Trading System, may influence on companies' economic performance. Polish energy companies, which mainly use coal in the energy production process, are particularly worried about the potential negative consequences associated with the implementation of new CO2 emission reduction targets and their participation in the European Union Emissions Trading System. This paper analyzes the link between economic performance and environmental performance of Polish energy companies, covered by the European Union Emissions Trading System in the years 2013-2017. This analysis may focus the attention of the European Union’s and Polish institutions responsible for developing the climate and energy policies on positive and negative consequences concerning the low-carbon transformation of the Polish energy sector. Two indicators of environmental performance: carbon intensity and the ratio of carbon dioxide emissions over the allowances, as well as chosen financial ratios: return on assets, return on investment, return on sales, asset turnover ratio are calculated for these companies. A Spearman’s rank correlation coefficient is used in order to analyze the relationship between these environmental and financial variables. Presented empirical results highlight that the situation of Polish enterprises worsened in the 3rd trading period, as the number of allocated allowances in case of all energy companies was insufficient to cover their own CO2 emission. A negative direction of the correlation dependency can be observed in the years 2013-2017 only between asset turnover ratio and return on assets, and the CO2 emission intensity.

Soil erosion is one of the vital factors contributing to the loss of fertility and environmental degradation. Generally accepted diagnostics of eroded soils is based on comparison of the sloping soils profile depth with the watershed soils. In this case, there is a separate problem of slope soils with a naturally shortened profile and eroded soils. Formation of the soil’s natural profile on the slopes, caused by the action of natural factors of soil formation, can be described using a mathematical model, characterizing hydrothermal conditions of the slope areas through relative parameters of insolation (Ki) and moisture. These parameters describe the difference in soil formation conditions on the slopes from the upland areas. They are calculated based on the landforms parameters – incline and slope exposure. Their ratio, xeromorphy coefficient, can be used to forecast humus content and profile thickness of non-eroded soils on the slopes. As studies have shown, for non-eroded chernozem soils of Ukraine, the parameter xeromorphy describes 49% of the profile thickness dispersion, while for eroded soils it does not depend on this parameter. Thus, this model of profile thickness P versus xeromorphy can be used to forecast the thickness of non-eroded soil for specific conditions. Deviation of the profile thickness from the forecast one can be considered as the manifestation of erosion or denudation.

The study attempts to assess the impact of the educational level of the country’s population, the level of science and technology development on the general environmental environment. The aim of this article is to assess the impact of educational level and level of science development on individual elements that reflect the state of the environment. To receive the obtained results is being used the package of statistical programs STATISTICA. The intense connection between educational level and aggregated evaluation of Environment Performance Index has been established. The significant correlation was found between the education index and the ecological conditions in countries with a very high, medium and low level of Human Development Index. The significant correlation between the processes of implementation of educational and science public policy and a set of environment’s criteria was found. The obtained models have been proved that for underdeveloped countries investment in education and science has a more significant impact on the ecological situation than in highly developed countries. Finally, this study concluded that public policy in the area of science and education, aimed at improving the ecological situation in the country, should be differentiated depending on the level of country development.

In this study, the relationships between two variables: the strategy of sustainable development and the efficiency of waste management in the commercial power industry company have been subjected to discussion. The basis for the explanation of the aforementioned relationships is the assumption that the level of implementation of the strategy of sustainable development is expressed through capital expenditures incurred on the implementation of modern tools of waste management. On the other hand, the efficiency of waste management in the commercial power industry company is reflected by the level of costs incurred on the storage, transport, and sales of this waste. The whole of the presented considerations has been divided into two basic parts, theoretical and empirical. The first part of the paper exposes the strategic dimension of the concept of sustainable development taking into account the economic and environmental efficiency of waste management achieved due to the use of modern management tools. The considerations presented in the second part constitute the response to the research question. The empirical part includes the identification of waste in the commercial power industry company in Poland and the research aiming at the cognition and assessment of relationships between the efficiency of waste management and the implementation of the strategy of sustainable development in the surveyed company. The publication increases the understanding of the coexistence of the strategy of sustainable development and the efficiency of waste management in the company of the commercial power industry operating in Poland, with particular emphasis on waste reduction and the possibility of its redevelopment. The research methods applied to accomplish the objective are literature studies, case study, descriptive analysis, trend analysis, and the Pearson correlation coefficient.

The study relates to the problem of cluster management in the conditions of sustainable development. Against the background of the assumptions and conditions for sustainable development, the specificity of the cluster activity in the conditions of the Polish economy has been presented. The objective of the paper is to characterize the cluster management standards in Poland. Such standards have been formalized and published lately with the recommendation for their application by the Polish Agency for Enterprise Development. They constitute the response to the low level of the existing cluster management and lack of the system approach to the issue of the preparation of professional coordinators, whose significance is crucial for the cluster success. In the paper, the methods of literary study and the analysis of secondary data have been applied. The paper begins with the characteristics of the principles of sustainable development and their impact on cluster activity. It also indicates the role and significance of clusters in the contemporary economy. Subsequently, the author has conducted an analysis of cluster activities in Poland. The last part of the paper refers to the Polish standards for cluster management as well as the conclusions and recommendations.

This study contains a comprehensive scientific analysis of modern problems of risk management in the sphere of state economic security provision using professional liability insurance. The elements of the mechanism for providing economic security are defined, namely: subjects, objects, and instruments of influence. It is stipulated that insurance is the means to provide state economic security. Here are types of insurance that are important for the state and its economic security and we have focused on one of these types, namely: professional liability insurance. It is shown that this type of insurance helps to manage the risks in different business activities. The concept of this type of insurance has been researched. It is identified as its characteristics. The classification of this type of insurance has been performed. It is proved the effectiveness of insurance as a method to provide the protection of the economic interests of all entities by transferring part of the risks to professional participants of the insurance market.

The study highlights the importance to develop the national economy through assuring energy security. The study aims to analyze how to develop renewable energy sources, determine the main priorities of Ukraine’s national security policy and discover novel ways of assuring energy security due to developing the industry of renewable energy in the light of environmental safety, energy conservation, and efficiency. The following scientific methods were employed: synthesis and analysis – to determine the essence and significance of RES in order to assure energy security; theoretical generalization – to single out the main stages of renewable energy development; classification – to classify the main advantages of introduction of RES, as well as the obstacles to their implementation; logical generalization – to justify the relevance, aim and objectives of the study; the method of rising from the abstract to the concrete – to develop and justify the ways of assuring energy security provided that renewable production is developed. The following results are obtained: the main conditions for developing RE are determined; some relevant issues of energy efficiency and assurance of Ukraine’s energy security are justified; significant potential of Ukraine’s renewable energy industry is discovered and analyzed; target values Ukraine seeks to achieve with the help of the energy generated from RES in final energy consumption are analyzed; the main criteria for developing Ukraine’s fuel and energy complex are revealed and the key branch ratio values of the state’s energy balance are determined.

The issue of accidents at work and accident prevention have a significant impact regarding safety, health protection and work environment management for the European Union. Work conditions need to be improved in Poland. Solving this collective issue caused by humanitarian as well as economic considerations is a primary mission in businesses. Creating more quality jobs is one of the main goals of the EU’s social policy. Health and safety in the work environment are essential conditions for work quality. This article presents the incidence of work-related accidents in the EU. In the 28 member states of the EU (EU-28), 2015 recorded over 3.2 million workplace accidents which invoked at least 4-day work leaves and 3,876 deaths. The authors of this analysis present the issue of workplace accidents based on the examination of incidents in large foodstuff plants of the Lodz voivodship i.e. food processing businesses that have been continuously active for the five year period of 2008-2012. The food industry belongs to one of the most fundamental economic fields and is one of the most important factors of economic growth and amounts to about 20% of domestic production in the processing industry in Poland. The Lodz province has been chosen on account of its central location in the country. For the selected group of businesses, there is a marked increase of workplace accidents – from 258 in 2008, to 333 incidents in 2012 – for the study period in that the lowest incidence occurred in 2009 (211 accidents), and the highest in 2011 (358 accidents).

The goals of the article are a definition of patterns of change in demand and supply of milk and dairy in the market of Ukraine and revealing the regularities of establishing of partial equilibrium state. The scientific methods which used in the process of the research: simulation was used for defining trends of supply and demand changing and their balancing in the dairy market; economic and statistical method was used for estimation of tendencies of production and consumption of dairy products in Ukraine; analysis and synthesis were used to find out the reasons that determine the trends of supply and demand changes; tabular and graphical methods were used for clearness of the image of the obtained research results; abstract-logical method was used for the formulation of conclusions. Results of the researching: Trends of demand and supply changes in the dairy market in the 2016 year was estimated. Specifics of establishing the state of partial equilibrium in that market were characterized relative to the main groups of its participants as producers and consumers. Development of methodological and practical aspects of features of establishing the state of market equilibrium in the dairy market, unlike existing, is based on a model basis is still actual. The practical significance of those results consists in working out of the tool of justification of managerial decisions for assessing the state and creating regulatory measures for sectoral development.

The sectoral structure of most agricultural enterprises is unbalanced and uncoordinated, which underlies the need in deepened research of its improvement. This paper is dedicated to the formation and evaluation of the sectoral structure with the use of mathematical methods of data processing. Mathematical economic modeling based on optimization and simulation models has been applied for the formation and evaluation of sectoral structure in agricultural enterprises. The approbation of the aforementioned models has been carried out in a certain agricultural enterprise. The simulation modeling has been used to develop a production model by the types of products that enterprise does not produce (milk, fish products and honey). The optimization model has been developed taking into account the rational use of the enterprise’s land with the prospect of livestock sector development. Obtaining the maximum net income (proceeds) from products sales has been chosen as the optimality criterion. According to calculations, the maintenance of cows is unprofitable; the production of fish and honey is profitable. Due to the diversification of the sectoral structure, the enterprise’s profitability level will increase from 16.6 to 45.8 percent. The implementation of optimization and simulation models allows to assess the existing level of sectoral structure in agricultural enterprise and to form its optimal sectoral structure with ensuring the rational use of resources and obtaining profit.

In this study, an investigation of long-term forecasts relating to the development of the transport sector in Poland is performed, including the ones by 2030 and 2050. Selected transport development forecasts from the perspective of the membership of Poland in the European Union are presented and most of all, from the perspective of national studies. The basement for the review was the prognosis of European Commission, Central Statistical Office, International Monetary Fund, Department of Economic, Sectoral and Agricultural Market of BGZ BNP PARIBAS S.A., Motor Transport Institute, Wise Europa Institute of Warsaw Transport Institute, as well as prognosis of the scientific experts. Despite temporary economic downturns, the demand for freight transport is steadily growing and, as shown by the forecasts, it will grow in the future. In 2018 the situation on the freight transport market was expected to remain stable, mainly due to the continuous high demand for international carriages.

This article discusses the prospects for the development of the implementation of scientific and technical cooperation. On the example of international cooperation between Ukraine and Chile, there are approaches to improving the procedure for developing cooperation priorities. The current state of these relations does not reflect real trends in the development of international economic relations in the vector of strengthening the scientific and technical component. Based on the analysis of analytical materials, one of the priority areas of the joint development of scientific and technical issues may be the use of non-traditional renewable energy technologies. Both in Ukraine and in Chile there are objective factors (natural, resource, socio-economic, environmental-technological) for their development. For Ukraine, it is interesting the experience of the scientific and production implementation of these technologies and the organizational and economic support of these priorities in the context of state and regional policy. All these aspects, including through the exchange of intellectual products, will make it possible to increase the effectiveness of support policies, the innovative susceptibility of subjects of production and business activities of Ukraine and the corresponding development of producers and consumers' motivation to non-conventional renewable energy technology.

Eco-innovation is any innovation that leads to sustainable development by limiting the negative impact of production activities on the environment, increasing the resilience of nature to loads or ensuring greater efficiency and responsibility in the use of natural resources. Eco-innovations are the opportunity for enterprises. Their introduction contributes to reducing the costs of doing business, allows you to take advantage of new opportunities development and positively affects the company's image. The main goal of the research is to recognize the situation and the level of eco-innovation in Poland, including the micro, small and medium enterprises sector and to compare the obtained results with the ones from European Union countries. The result of the research is indicating the barriers and opportunities to support the development of eco-innovation in the micro, small and medium enterprises sector in Poland. Lack of financial resources for eco-innovation was indicated as the largest barrier by MSMEs in Poland. The most significant barriers to eco-innovation in Poland are mainly of an economic nature, including the high cost of implementation, difficult access to capital, uncertain return on investment and the weak system of economic and fiscal incentives encouraging eco-innovation.

The markets globalization is one of the factors creating conditions for the development of entrepreneurship. Entrepreneurship does not have one generally accepted definition. Most often, entrepreneurship is perceived as the ability to increase the number of enterprises. Entrepreneurship can be understood as the potential to identify and use development opportunities regardless of own resources. Entrepreneurship is therefore associated with such areas as new organizational forms, stimulation of innovation and cooperation with the entrepreneurial environment. Unfortunately, enterprises face many difficulties which can have the supply and demand nature. These difficulties hinder the enterprise functioning on the market and its development. Logistics performance perceived as the implementation of the highest quality of logistics standards allows overcoming the difficulties of entrepreneurship, especially for the transport and storage sector. For this reason, the article aims to determine the relationship between logistics performance and the entrepreneurship rate for selected European Union countries. Logistics performance was determined by a synthetic measure of development estimated using numerical taxonomy methods for variables forming the Logistics Performance Index. The same method was used to build the entrepreneurship rate, accepting as variables selected entrepreneurship indicators for the transport and storage sector. The correlation analysis was performed with the use of the Spearman rank correlation coefficient. The years 2014-2016 were analyzed. The availability and completeness of data dictated the choice of years, countries and indicators for analysis.

In this study criterion of maximum profit intensity for transportation problems, in contrast to the known criteria of minimum expenses or minimum time for transportation, is considered. This criterion synthesizes financial and time factors and has real economic sense. According to the purpose of this paper, the algorithm of the solution of such a transportation problem is constructed. It is shown that the choice is carried out among Pareto-optimal options. Moreover, the factor of time becomes defining for the high income from transportation, and the factor of expenses – at low ones. Not absolute but relative changes of numerator and denominator become important when the criterion represents the fraction (in this case – the profit intensity as the ratio of profit to time). A nonlinear generalization of such transportation problem is proposed and the scheme of its solution in a nonlinear case is outlined. Graphic illustrations of Pareto-optimal and optimal solutions of transportation problem by profit intensity criterion are also given.

Grain production is one of the Ukrainian agro-industrial complex main branches. An indicator of the grain production efficiency is its profitability. It is characterized by significant annual fluctuations that induce risk. Redistribution of existing grain crops areas taking into consideration their profitability can bring to increase of production efficiency. The paper observes Markowitz’s optimal portfolio theory appliance to grain branch. The central aim of this work is the development and justification of a new technique of sown areas portfolio risk evaluating. In this study, the annual profitability of four cereal crops cultivated in the Rivne region: wheat, barley, corn, and oats, have been analyzed. It is shown that the profitability of the cereals is not normally distributed. Under these conditions, the portfolio variance loses part of its informativity and can not serve as a good risk measure. It has been determined that the profitability of crops with good precision follows Laplace distribution (double exponential distribution). The analytical expression for Value-at-Risk measures has been obtained using the Laplace distribution function. Numerical risk assessments performed. Using a modified Markowitz model and obtained risk estimates the efficient frontiers of cereal sown areas portfolios in the Rivne region were constructed. Obtained results allow indicating ways for optimization the region grain industry structure.

The problem taken up in the study is the management of the company in terms of costs incurred on the implementation of the concept of sustainable development. The problem is important and topical in view of the possibility of increasing the efficiency of management in companies organizing their activities in the perspective of sustainable development. As a consequence of the formulated research problem, the aim of the study was to recognize and assess the relationship between the currently binding provisions of the balance sheet law in Poland, in the area of costs incurred for sustainable development, and the social, economic and environmental strategy to be implemented. All the presented deliberations are divided into two main parts, theoretical and empirical. The considerations presented in part one characterize the elements of cost management in a company in the context of sustainable development. The second part is a presentation of the results of empirical research on the determinants of sustainable development cost management in a manufacturing company. The study contributes to the discussion on the identification, allocation, and presentation of costs related to the implementation of the sustainable development strategy in the company. Conclusions from the conducted research suggest the necessity of separating analytical tools in the accounting structure of the company in order to identify and allocate costs related to the construction of the sustainable development strategy. This makes it possible to assess the extent to which the company's sustainability concept has been achieved. The research methods used to achieve the objective are literature studies, descriptive analysis, and case studies.

Ukrainian agriculture creates 12-14% of GDP. Ensuring the conditions for sustainable economic development implies the use of adequate mechanisms for regulating economic processes by the government. In the process of formation and implementation of the organizational and economic mechanism of regulatory policy, a system of indicators plays an important role in assessing the impact of such policy on the participants, monitoring and, in case of the deviation from planned results, adjusting regulatory measures. This research analyzes and systematizes the indicators that determine the organizational and economic mechanism of regulatory policy effectiveness in agriculture. The systematization of indicators to evaluate the organizational and economic mechanism of regulatory policy effectiveness in agriculture has allowed substantiating the methodological principles of its integrated assessment. Application of the proposed methodological approach to assessing the organizational and economic mechanism of regulatory policy effectiveness in agriculture in Ukraine was performed during 2010, 2016-2017 period. It revealed slow progress in the organizational and economic mechanism of regulatory policy efficiency during the investigated period. This result is primarily attributed to the lack of purposeful, systematic change management, the lack of mid-term planning, the strictness of most programs, imperfect financial instruments of the organizational and economic mechanism, and procedures for application.

The level of information today is decisive in the socio-economic development of the country. The purpose of the article is to identify the most influential factors in the process of developing informatization in the context of international globalization. The assessment of factors influencing world information is based on the following stages: forming incoming information about the state of world information, a methodical approach to assessing the impact of world information, modeling the interrelation of components, the influence of world information as hidden factors in the development of information. Factor and correlation analyses are carried out within each cluster with a single level of information by groups of countries. Based on the calculation of factor loads, the most influential indicators have been determined, which serve as the basis for the formation of the informatization process mechanism in the countries of each cluster group. Accordingly, for example, from Innovations and Improvement Factors the major ones were only for the second cluster: Government efficiency and Efficiency of goods market and for the third cluster was the Global Competitiveness Index. The study allowed to determine the main priorities for the development of information in the context of clusters, formed in accordance with the level of information development in the country of each group. Interpretation of the results allowed determining the most influential factors in the development of informatization of the countries of each group, which is the basis for forming recommendations on organizational measures to increase the level of informatization in the context of international globalization.

The way of perceiving the environment is the factor informing on the condition of the environment and its impact on the operation of enterprises whereas the impact on the operation is the factor determining how enterprises operate in realities where there is no place for atomized actions of isolated enterprises and the impact of the environment and relationships with its constituents and all forms of inter-organizational and interpersonal relationships are of increasingly critical importance. The objective of the study is to analyze the perception of the environment in which modern small enterprises operate. The study question relating to this problem was formulated as follows: 1) what is the perception of the environment by the entrepreneurs representing small enterprises? 2) Is the environment of small enterprises perceived as unfriendly (dynamically changing, hostile, heterogeneous) by them? The research tool was the questionnaire. The statistical analyses were conducted using the R Package. While summing up the results of the conducted research, it should be concluded that, in most studies in the field of management of modern enterprises, a frequent observation is defining the environment as turbulent or ultrafast. The perception of the entrepreneurs under research indicates, however, a slightly different, more lenient approach to the environment. Although they were not directly asked about the level of turbulence of the environment, the obtained results, maintaining the characteristics of the environment in the middle of the scales (dynamism, hostility, heterogeneity) indicate that this environment is not perceived in a drastic and pessimistic manner.

The local community is a complex socio-economic system, and its ability to function for an indefinitely long period of time (viability) is not investigated sufficiently today. The purpose of the research was, using the cognitive mapping, propose to the local community management developing their own management strategies to ensure its viability. Considering the weakly structured subject area of resource management for the viability of the local community and the complex dynamic nature of socio-economic processes, fuzzy cognitive reflection was suggested as a tool that provides opportunities for modeling the inherent complexity and uncertainty associated with socio-economic systems. This research shows a system of relations between concepts in the form of a causative network – a cognitive map of the resource management of a local community and proposes scales for measuring the concepts. During the simulation experiments, managed, indirectly managed and unmanaged resources for the viability of a local community were defined. In modeling, own income per inhabitant has been chosen as the target concept and as an indicator of the potential of an independent choice of direction for the development of the local community with the view toward the construction of resource management scenarios for the local community's viability. As a result of the simulation, there were proposed some strategies for the growth of ‘own income per inhabitant’ and some recommendations were given for building management scenarios within these strategies.

The purpose of the article is the establishment of the tightness of the connection between the various sources of financing and the introduction of innovations at enterprises. In the process of research such scientific methods have been used: modeling – to determine the influence of the source of funding for innovation activities, on the number of new technological processes introduced and the introduction of new types of products; economic-statistical – to evaluate the dynamics of the amount of realized innovative products and the index of the efficiency of innovation costs; correlation-regression analysis – to determine the relationship density and the relationship between factors of influence and performance indicators; abstract-logical – for the implementation of theoretical and methodological generalizations. The results of the research – analyzed the connection of the indexes of dynamics of sources of financing of innovation activity and the amount of implemented new technological processes and development of new types of products for 2011-2017. The influence of the most significant sources of financing on the amount of innovations is described. Further development of methodological and practical aspects of the dependence of the amount of implemented innovative products and the index of the efficiency of innovation costs, using multiple regression models, has been found for the establishment of the influence of system-based economic indexes. The practical significance of the obtained results is to determine the optimal level of financial support for innovation activity of enterprises, which will allow predicting the growth of innovative processes in the country in the short and medium term.

Innovativeness, determining the development potential of enterprises and economies, and hence the economic welfare of societies, became an important area of interest for both theoreticians and especially economic life practitioners. Thus, in this study of the subject there can be found numerous definitions and types of innovation, including environmental innovation, being a response to the demands of a modern economy, related to the need of combining innovativeness with care for the environment. The observed increase of interest in the idea of sustainable development, and often some kind of reorientation of enterprises towards the eco-innovative strategy, are associated with the perception of the eco-innovation as both a necessity and a chance for promotion and development. Despite this, only less than 1/3 of the countries belonging to the EU can be considered as innovative and eco-innovative at the same time. Poland still does not belong to these countries - on the map of the EU innovation Poland ranks among the so-called moderate innovators (with the SII index of 0.27 in 2017, while the EU index was 0.504). With the Eco-IS score equal to 59 the level of eco-innovativeness of the Polish economy is much below the EU average (Eco-IS = 100) – in 2017 Poland obtained 26th place out of 28 European Union countries. Given the above, this paper outlines the nature of eco-innovativeness with particular focus on the results recorded by Poland in this regard in comparison to the European Union.

The present study investigates the socio-economic nature of the issue of food provision in the consumer market of Ukraine. It is entity content and main macroeconomic functions oriented at production, sales, and consumption of food, undertaken by the state to maintain the ongoing process of social reproduction and security guaranteeing in the country. It is hypothesized that the change in income of the population, Consumer Price Index, total expenditures of households on food and agricultural production per capita have the largest influence on food provision of the consumer market in the country. Based on the system approach the authors suggest their understanding of the factor determinants grouped by certain features, which influence the condition of food provision of the consumer market in the country. Application of factor grouping method contributed to the identification of parameters that show the links of economic factors and the condition of food provision. Correlation-regression analysis allowed revealing and assessing the dependence of the level of main food products’ consumption in the country on the major groups of factor determinants. The assessment of standardized regression coefficients contributed to determining the input of each suggested factor in the condition of food provision of the consumer market. The strong interrelation between socio-economic factors and the volumes of consumption of main food groups by the Ukrainian population, in particular, vegetable and animal products, is found. The results of the conducted analysis confirm that the condition of food provision at consumer market depends on how efficient the mechanisms of macro- and microeconomic regulation of trade and food policy of Ukraine are.

The current study focuses on the problem of determining investment attrаctiveness of countries by means of monitoring regional stock markets. The method of using the permutation entropy as a model of investment attractiveness estimation is suggested. We have calculated the permutation entropy for the time series of stock markets of countries for the period from 2005 to 2018. The countries with high, middle or low income in Europe, Central Asia, East Asia, the Pacific, and North America were selected for the study. The article presents the results of modeling and analysis of dynamic properties of regional stock markets using the permutation entropy. The behavior of the permutation entropy and stock markets is analyzed and conclusions about the possibility of rapid monitoring of the investment attractiveness of countries by classifying the states of the stock markets of these countries are drawn. Particular attention is paid to crisis periods. It has been shown that the permutation entropy rapidly decreases in a universal way in the pre-crisis period, which can serve as an indicator of the precursor for crisis phenomena. Determining the pre-crisis, actual crisis and post-crisis periods will allow the investor to make the right decision on time. The advantages of using the permutation entropy method as a tool for high-frequency monitoring of stock markets and modeling the investment attractiveness of countries are pointed out. The results of determining investment attractiveness in terms of the permutation entropy and ratings of the world countries, compiled by the world-wide rating agencies and literature, are compared.