Impact Investing in the Hospitality Industry:
Social Responsibility and Economic Benefits
LILIIA HONCHAR, IRINA VEREZOMSKA, OLENA ZAVADYNSKA, SERGII NEILENKO,
NADIIA SAPELNIKOVA, INNA KRUPA
Department of Hotel and Restaurant and Tourist Business,
Kyiv National University of Culture and Arts,
36 Evgena Konovaltsia Street, Kyiv, 01601,
UKRAINE
Abstract: - This research investigates the intricacies of impact investing in the hospitality industry and its
potential implications for fostering corporate responsibility. The study highlights the pivotal role of impact
investing policies in promoting regional economic development and environmental betterment. In the face of
pressing global environmental challenges, such as climate change and energy resource scarcity, the study
underscores the need for effective measures that positively shape state policy formation. The primary goal of
such policy initiatives is to bolster human capital development and ensure the long-term realization of strategic
objectives. This holds particular significance for nations with substantial potential in the tourism industry,
where the hospitality sector acts as a linchpin for tourism recovery and presents compelling opportunities for
impactful investments. As energy shortages and dependence took center stage in 2022, the research calls for the
exploration of alternative renewable energy sources and the development of new commodity markets to
invigorate energy sector growth. Against the backdrop of the hospitality industry's post-pandemic resurgence,
the integration of impact investing emerges as vital for both developing and developed nations. Given the
prevailing global environmental crisis, the study underscores the imperative of effective international
cooperation mechanisms to tackle environmental challenges, positioning impact investing as a catalyst for
achieving sustainable economic development goals, advancing eco-friendly practices, and addressing global
environmental imperatives.
Key-Words: - Sustainable practices, tourism, social responsibility, impact investing, hospitality industry.
Received: May 11, 2023. Revised: July 26, 2023. Accepted: September 21, 2023. Published: October 10, 2023.
1 Introduction
The hospitality industry plays a key role in the
global economy, contributing to job creation,
economic growth, and cultural interaction. It
includes hotels, resorts, restaurants, and tourism
services. On the other hand, the hospitality industry
faces modern challenges such as environmental
impacts, social inequalities, and the need for
sustainable practices. To solve such problems,
impact investing is mostly used. It directs financial
resources to enterprises that meet both profitable
goals and social responsibility goals.
Impact investing is an approach that aims to
contribute to the achievement of measurable
positive social and environmental impacts (leading
to significant positive changes). This type of
investment has emerged recently as a significant
opportunity to mobilize capital in investments aimed
at measurable positive social, economic, or
environmental impact along with financial return.
An increasing number of investors include impact
investments in their portfolios. The impact investing
market is relatively new but growing rapidly, and it
is making rapid progress toward a common
framework for managing impact investing. Since
2020, the majority of international financial funds
have made changes to their investment strategies,
specifically determining the priority of impact
investments in their portfolios.
By delving into the intricacies of impact
investment in the hospitality sector, this article aims
to provide insights and inspiration for industry
stakeholders, investors, and policymakers to
embrace socially responsible practices while reaping
economic benefits.
The research aims to determine the specifics of
impact investing in the hospitality industry, as well
as the possible development of corporate
responsibility as a result of such investment
activities. The key objectives of the study are to
WSEAS TRANSACTIONS on ENVIRONMENT and DEVELOPMENT
DOI: 10.37394/232015.2023.19.95
Liliia Honchar, Irina Verezomska,
Olena Zavadynska, Sergii Neilenko,
Nadiia Sapelnikova, Inna Krupa
E-ISSN: 2224-3496
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outline the theoretical, methodological, and practical
foundations of impact investing and its possible
application in the hospitality sector. An important
vector of the study is the analysis of the tourism
market and its potential for restoring the
environmental component.
2 Literature Review
Modern scientific research pays considerable
attention to the issue of impact investing, as it is
important for the strategic development of the state
and human capital. Widyawati believes that impact
investing involves the use of a set of sustainable
development goals to integrate them into investment
activities and extend them to the corporate sector,
[1]. According to, [2], the use of impact investing is
aimed at ensuring economic development and
attracting capital to industries that closely interact
with the environment. However, this approach
implies not only the possibility of using the capital
received to improve the quality of the investment
climate but also ensuring the social and
environmental impact of investments. According to,
[3], impact investing is an innovative means of
forming the investment portfolio of the most
developed countries, which aims to implement new
strategic policies and practices for the realization of
sustainable development goals. According to, [4],
the use of investments in human capital
development and the involvement of the corporate
sector in this process is one of the key elements of
impact investing. Scientist believes that the use of
investment funds for the development of society is a
top priority. This will help improve the quality of
the country's macroeconomic environment and have
strategic goals for the further development of the
ecological environment. According to, [5], the
hospitality sector is a qualitative tool for the
development of the tourism market and the
environment, as the use of investments in this area
will be closely intertwined with the industry's
impact on the tourism market, as well as ensure the
spread of the region's tourist attractiveness with an
ecological approach. Johnson believes that impact
investing can be used to achieve global strategic
goals and have a positive long-term effect, but in the
short term, this method may be less effective, [6]. A
key unfavorable factor is the formation of low-
liquid assets that are of strategic importance to the
state but cannot be sold. Mudaliar notes that the use
of impact investing in the hospitality sector can
increase corporate responsibility in the tourism
sector and strengthen the image of the enterprise in
the "green" commodity market, [7]. According to,
[8], the use of impact investing principles is
primarily aimed at creating an environmentally
friendly environment. To achieve this goal, it is
essential to build a strong economic system in
related industries and use mobilization resources,
including financial assets, aimed at this area. Lyon
considers impact investing as the most promising
tool for modern investments and opportunities for
further development in the context of current
geopolitical and socioeconomic instability, [9]. The
scientific community believes that the use of impact
investing is most important for countries that have a
strong economy and can achieve economic
leadership in the long term. According to, [10], it is
crucial to involve international organizations in the
policy of building economic sustainable
development not only of the state economy of a
particular country but also of the global economic
system. Thus, modern scholars emphasize the
importance of researching the development of
impact investing and its possible implementation in
the hospitality sector.
3 Methods and Means
Scientific analysis methods were used to clarify the
problems and opportunities of impact investing in
the modern field of hospitality. Both theoretical and
practical aspects of this topic were carefully
considered, taking into account the valuable
experience of developed countries in this direction.
In particular, the experience of such countries as
China, France, Great Britain, Italy, Japan, Mexico,
Spain, Thailand, Turkey, and the USA was studied.
First of all, literary sources were analyzed, which
made it possible to study the theoretical concepts
and the possible application of impact investing to
increase social responsibility and achieve the goals
of sustainable development in the hospitality
industry. Analysis and synthesis methods were used
to determine the key aspects of implementing
impact investing in the hospitality industry. This
made it possible to systematize the obtained data
and better understand how impact investing can be
effectively implemented in the practice of the
hospitality industry.
The appropriate means of analysis is the use of
theoretical provisions and practical experience of
developed countries in implementing impact
investing policy for further strategic development.
Based on the outlined research methodology and
analysis of modern literature, the key principles of
impact investing development and its application
prospects are outlined. The article analyzes modern
means of impact investing in the hospitality industry
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DOI: 10.37394/232015.2023.19.95
Liliia Honchar, Irina Verezomska,
Olena Zavadynska, Sergii Neilenko,
Nadiia Sapelnikova, Inna Krupa
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and characterizes the main aspects of its
development.
The article carried out a quantitative assessment of
potential economic effects based on statistical
analysis. For this, such economic indicators as GDP
growth, direct foreign investments, and jobs were
used. The calculations made it possible to analyze
the economic effect of each perspective. As a
result, a comprehensive assessment of the social and
economic consequences of each perspective was
carried out.
Based on the analysis and assessment,
conclusions and recommendations for further
research were determined. These recommendations
aimed to guide policymakers, industry stakeholders,
and investors in implementing impact investing
practices that enhance both economic and
environmental sustainability within the hospitality
sector.
4 Results
Impact investing plays an important role in shaping
the country's economic potential. Its main goal is to
achieve the goals of sustainable development. That
is why impact investing is becoming the most
promising means of development and improvement
of the socio-economic sphere in the country. From a
macroeconomic perspective, impact investing may
seem less profitable due to its moderate impact on
industry profitability and limited prospects.
However, with the emergence of negative
geopolitical challenges, such as the war in Ukraine
and the consequences of the coronavirus pandemic,
the need to develop impact investing takes on new
significance. In modern conditions, impact investing
is used by investors as an effective mechanism for
ensuring the socio-economic development of the
country.
The key tasks and strategies of the state are to
create a competitive economy, promote the
development of small, medium, and large
businesses, and strengthen corporate social
responsibility to engage the corporate sector in
social protection. Impact investing involves not only
mobilizing capital and allocating it to the investment
sector but also focusing on the development of
social aspects that will contribute to a positive
economic climate and be used for environmental
development.
Modern practice in developed countries shows
that impact investing is becoming increasingly
popular due to the need to ensure sustainable
development, improve the global economy, and
avoid global crises, such as the one that arose
because of the war in Ukraine. The problem of
Russian aggression in 2022 is being faced by many
countries, as it causes some difficulties regarding
commodity markets, an increase in the shortage of
oil resources, and the need to accumulate additional
resources to cover budget expenditures. An effective
tool to ensure such a policy will be the use of
instruments to attract additional funds to the
country's economy. The negative effects of the
coronavirus pandemic have caused a crisis in most
tourism markets, as the inability to conduct effective
tourism activities and facilitate the restoration of
relevant infrastructure has become an acute
problem. In many countries, tourism accounts for
more than 30% of the GDP. However, given the
gradual recovery of the tourism market since 2021,
impact investing in the hospitality sector remains an
important issue. It can not only improve the quality
of economic development but also help restore the
previous equilibrium in the investment market.
The fundamental principle of sustainable
development is to fulfill the present generation's
requirements without jeopardizing the capacity of
future generations to fulfill their own. This is
achieved by striking a balance between economic,
social, and environmental development, i.e.
protecting the environment and preserving resources
while meeting the social and economic needs of the
current generation. Improving the quality of
interaction between these two components is the
basis for improving the quality of life of the
country's population and the ability to develop the
country's internal resources. The peculiarities of
forming a favorable environmental environment are
a premise for the development of human capital,
which, in turn, is a prerequisite for the development
of the country's economy. To ensure a high-quality
environment, it is necessary to use many state
investment projects, create a favorable legal
mechanism aimed at ensuring environmental
development, and engage the corporate sector in
corporate social responsibility both as a mechanism
for the social protection of the population and for
environmental development. The combination of
economy and environment is a powerful tool for
sustainable development, as it aims to build a long-
term mechanism that will influence the quality of
the economic environment in the country and ensure
sustainable development. The key pillars of impact
investing are shown in Figure 1.
WSEAS TRANSACTIONS on ENVIRONMENT and DEVELOPMENT
DOI: 10.37394/232015.2023.19.95
Liliia Honchar, Irina Verezomska,
Olena Zavadynska, Sergii Neilenko,
Nadiia Sapelnikova, Inna Krupa
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Fig. 1: Elements of impact-investing
Source: compiled by the author
First of all, the practice of implementing impact
investing involves ensuring the formation and
development of sustainable development goals.
After all, impact investments are aimed at achieving
social or environmental consequences that would
not have occurred if the investment had not occurred
(in addition). The result can be, for example, the
improvement of health care services, access to
financial services, access to clean water, and the
formation of employment and income in rural or
poor communities. In addition to the specifics of
impact investing, the impact movement can help
transform markets structurally. Attracting capital to
productive activities in developing countries and
innovative social enterprise impact investments can
lead to greater and greater impact by increasing
local income levels, supporting job creation, and
building local markets through imitation.
Recent trends indicate that impact investing
should be implemented in the hospitality industry.
This will contribute to increasing the role of the
corporate sector in social protection. The hospitality
industry is a broad category of industries within the
service industry that includes accommodation
services, food and beverage services, event
management, amusement parks, transportation,
cruise lines, travel, and additional industries in the
tourism industry. It aims to provide additional
services and make the customer's stay in a particular
establishment comfortable. Furthermore, hospitality
institutions have additional tourism infrastructure
and special facilities that provide additional services
and opportunities for customers. The use of such
facilities will be beneficial for both tourists and the
public at large. The development of hospitality
facilities involves not only the preservation of
cultural heritage but also the creation of special
green areas and the improvement of the
environmental situation.
In general, the hospitality industry includes a
variety of tourism products aimed at satisfying
aesthetic needs. These products may include
transfers to special places of ecology, natural and
recreational resources, and other interesting tourist
sites. Improving the development of the hospitality
industry and implementing impact investing in it
will help create a positive image of the country in
the current environment. Moreover, the use of such
activities will have many advantages over traditional
means of training and development of human
economic activity, since most hospitality institutions
interact with other institutions in the corporate
sector. Through the introduction of an investment
policy in the hospitality industry, the government
promotes support for small businesses that ensure
the maintenance of such establishments. Apart from
that, impact investing is of great importance for
most developed countries. For its effective use,
special international donor organizations are being
created to plan projects to develop the environment
and maintain the quality of tourism.
Organizations that have outstanding tourist sites
can apply to various environmental and tourism
organizations to submit relevant projects for
possible grants and develop their policies to build
the necessary infrastructure. The use of such
projects will contribute to high-quality economic
development and play an important role in today's
unstable environment. Moreover, the issue of
forming economic sustainable development should
primarily include the creation of a high-quality
financial mechanism that can ensure the
development of the environment. As a rule, the
environment is a low-liquid asset, as it cannot
provide real monetary results or financial assets in
the short term, but it is of strategic value to the state.
Therefore, it is important to encourage the state to
participate in the field of economic sustainable
development, as this practice will help to create a
positive image of the country and strengthen its role
on the world stage.
Before the spread of the coronavirus pandemic,
tourism played an important role in shaping the
economy, creating a strong financial sector and
opportunities for the development of economic
relations. Currently, given the negative impact of
the pandemic, restoring the quality of tourism to the
level of 2019 is a top priority. Restoring this
industry is important for the economy and
maintaining economic relations. For example, in
socioeconomic
impact
support for the
environmental
component
sustainable
development
innovativeness of
investments
Impact
investing
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DOI: 10.37394/232015.2023.19.95
Liliia Honchar, Irina Verezomska,
Olena Zavadynska, Sergii Neilenko,
Nadiia Sapelnikova, Inna Krupa
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some countries in Asia and the European Union,
tourism has become one of the most important
issues, as the amount of capital circulating in this
sector shrank to 15% by the end of 2020. However,
gradually, with the development of tools to combat
the pandemic, this problem began to be addressed,
in particular through impact investing. The use of
this approach was primarily a prospect for the state
as an opportunity to solve the key problem of
tourism, strengthen the corporate sector, and
improve the state of the domestic environment.
Therefore, the creation of government projects and
encouraging investors to invest in this area are
among the most important tasks in the modern
world. Moreover, the use of investment instruments
is primarily aimed at ensuring the quality of the
financial mechanism in the hospitality sector, but
the development of the environmental component is
also an important factor. Hence, the development of
the hospitality industry is an important factor in
ensuring and realizing sustainable development
goals.
Given the growing environmental problems and
the spread of negative trends, such as global
warming, the decline in the number of green forests,
and the effects of industrialization, the world's
current policy calls for the restoration of the
environmental component and the possibility of
ensuring its further growth. The use of such a tool is
possible due to the spread and development of the
hospitality industry. Most businesses that receive
tourists have access to special tourist resources and
recreational facilities, which contributes to the safe
development of tourism. Therefore, investing in this
sector will be a priority, as it will help solve the
state's strategic problems, as well as internal
financial problems. Table 1 provides more details on
the peculiarities of the hospitality industry
development in 2022 in different countries.
Table 1. Trends in the progression of the hospitality
sector and tourism market in 2022
Country
International
arrivals, mln.
people
Country
Revenue from
international
tourism in the
hospitality
industry, USD
bln.
France
91
The US
215
Spain
86
Spain
82
The US
81
France
65
China
54
Thailand
62
Italy
61
The UK
54
Turkey
47
Italy
51
Mexico
39
Japan
48
Source: compiled based on the World Tourism
Organization
Based on the data in Table 1, it can be
concluded that despite the negative effects of the
coronavirus pandemic, the tourism sector is
developing in 2022 and has positive trends. In such
circumstances, attracting impact investment in the
hospitality industry will be a priority, as it will be
used as a means to formulate sustainable
development goals and ensure environmental
development in the state's strategic policy.
In general, impact investing involves the use of
investments in alternative energy, as well as the
creation of economic relations that can improve the
quality of financial activity in the most deficit
sectors of the state. Due to the war in Ukraine, the
issue of improving the quality of energy and oil
imports is of the utmost importance for impact
investing. However, at the same time, the problem
of ensuring environmental development has not
disappeared, so it is necessary to use modern tools
to stimulate impact investing for additional
mechanisms for its dissemination. For instance,
engaging the corporate sector in social responsibility
to strengthen its brand in the green market will have
a positive effect. This involves positioning the
company in the market as one that operates in an
environmentally friendly manner. In the new
market, such a policy will improve the firm's
corporate results and generally enhance its image.
In the field of sustainable development, the
increase in impact investing should be aimed at
developing a legal mechanism for ensuring the
ecological development of regions. If we talk about
improving the quality of the tourism industry, it is
one of the main industries related to the
environment. Therefore, this industry plays a
significant role in the control and monitoring of the
quality of recreational and green resources. In
modern conditions, this practice is important and is
a priority in most developed countries. For example,
it has already been implemented in countries such as
SA, Germany, and France. These countries have a
sufficient level of industrialization, which involves
the use and production of raw materials, goods, and
services that may harm the environment. Therefore,
along with these industries, there is a need to
develop the hospitality industry, as it is adjacent to
the tourism industry and can become a tool for
ensuring sustainable environmental development.
In general, the global practice of using impact
investing has been spreading throughout 2021, as a
result of the coronavirus pandemic. Moreover,
impact investing has become one of the most
effective and appropriate tools for restoring the
tourism industry and ensuring the development of
sustainable tourism. Further prospects for impact
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DOI: 10.37394/232015.2023.19.95
Liliia Honchar, Irina Verezomska,
Olena Zavadynska, Sergii Neilenko,
Nadiia Sapelnikova, Inna Krupa
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investing include the construction of
environmentally friendly energy recycling and
waste management facilities. When it comes to
attracting impact investing in the hospitality sector,
the key prospects for its implementation with
subsequent economic effect are outlined in Table 2.
Table 2. Prospects for attracting impact investing in
the hospitality industry
Perspective
Economic effect
Environmental
development
Promoting small business
development, creating a regional
economy, and strengthening the
economic potential of the regions
Ensuring
sustainable
development
goals
Improving the quality of the
investment portfolio, promoting
positive dynamics of foreign
direct investment
Mitigating the
consequences of
Covid-19
Reincarnation of the tourism
industry after Covid-19
Strengthening the
economic
infrastructure
Improving the quality of capital
circulation, enhancing tourist
attractiveness, and developing the
hospitality industry
Creation of new
jobs
Promoting the development of the
country's macroeconomy,
strengthening the role of tourism,
and restoring it to 2019 standards
Positive social
effect
Development of the social and
economic sectors, strengthening
social responsibility
Source: compiled by the author
Based on the measures described in Table 2, it
can be determined that the use of impact investing
in the hospitality sector will be important for
ensuring the achievement of sustainable
development goals. The formation of sustainable
development involves strengthening the quality of
the economic environment developing corporate
relations and improving the environmental
component. This is a top priority for improving the
living standards of the population. The strategic
policy of modern developed countries is aimed at
ensuring a high standard of living and creating an
environmentally attractive country. The use of
environmental protection and support practices is
one of the top priorities in the modern world.
Therefore, the use of these principles for impact
investing in the hospitality industry can
simultaneously help improve the quality of
economic development and contribute to the
creation of new product markets, as well as serve as
a means of strengthening the quality of corporate
social responsibility. Strengthening corporate social
responsibility is an important task. This can help
reduce the burden on government monitoring and
control bodies, as well as facilitate the delegation of
these aspects of environmental management to
hospitality facilities. Most of them operate based on
access to special "green" resources and can also help
attract additional investments both within the
country and with the help of international donor
organizations. Thus, impact investing in the
hospitality industry remains one of the most
effective and interesting ways to ensure that the
goals of sustainable economic development are met.
5 Discussion
The hospitality industry is constantly evolving,
although the decline of the tourism industry due to
the coronavirus pandemic has caused destructive
processes for both individual corporate institutions
and the industry as a whole, [11]. Further research
should address the general issue of impact investing,
as it can help improve the quality of alternative
energy facilities and avoid the negative effects of
industrialization, [12]. The use of impact investing
can also be implemented based on a strategic state
policy or a mechanism for using state investment
incentives. Such a policy will be most relevant for
developing countries since accumulating capital and
directing it to the most strategic areas for the state
will be a difficult task. Therefore, the
implementation of a research policy on the specifics
of the use of such mechanisms will have the greatest
rational impact on achieving the goals of sustainable
development, [13].
Impact investing can have a positive impact on
improving the quality of the hospitality sector.
Using this tool to create and develop hospitality
facilities will help preserve the country's "green"
resources and develop recreational potential, as well
as allocate resources to preserve natural resources,
[14]. Further forecasts by global think tanks suggest
that the tourism industry is slowly recovering, which
is only possible if the coronavirus is completely or
practically eliminated. The emergence of vaccines
and the creation of a common policy to address the
negative effects of the pandemic will also be
important for research. Such policies will play a role
not only in securing the interests of a particular
country but also in contributing to global security,
[15]. The use of means to overcome the
consequences of the pandemic through the
development of hospitality facilities is an interesting
issue, [16]. Through the practical use of special
means of preventing the spread of the virus, it is
possible to gain real practical experience, [17].
Further prospects for restoring hospitality depend on
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DOI: 10.37394/232015.2023.19.95
Liliia Honchar, Irina Verezomska,
Olena Zavadynska, Sergii Neilenko,
Nadiia Sapelnikova, Inna Krupa
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overcoming this obstacle, so research on the
specifics of the fight and the use of specialized tools
will be of strategic importance for state policy.
A promising tool for studying impact investing
in the hospitality industry may be the use of the
results of think tanks on the quality of their
activities, spheres of influence, and opportunities for
integration into the overall strategic policy of the
state, [18], [19], [20]. The use of such investment
instruments can have both a positive and negative
impact on the sustainable development of the
economy. Improving the quality of the environment
is also possible through strengthening the social
responsibility of such enterprises and their role in
the use and dissemination of their corporate
activities, [21], [22], [23]. The results of the
research show that the hospitality industry itself
envisages the use of corporate social responsibility
as the prerogative of its activities, which is a
positive aspect in the formation of impact
investment results. In this regard, conducting
analytical research on the possibilities of auditing
corporate social responsibility and finding
mechanisms for its popularization at the national
level will be one of the key areas for strengthening
the strategic potential of the state in the
implementation of impact investing.
So this study not only sheds light on the
significance of impact investing but also offers
practical insights and directions for policymakers,
investors, and researchers. It provides a
comprehensive view of how impact investing can be
harnessed to address critical challenges and foster
sustainable development in both regional and global
contexts.
6 Conclusion
Based on the study, it has been determined that the
policy of impact investing plays a crucial role for
states in terms of regional economic development
and environmental improvement. The pressing
global environmental challenges, such as global
warming and energy resource scarcity, necessitate
the search for effective measures that positively
influence state policy formation. The primary
objective of such policy is to enhance the
development of human capital and ensure the long-
term implementation of strategic goals. This is
particularly significant for countries with high
potential for tourism industry development, as
tourism and hospitality are closely intertwined. The
hospitality industry catalyzes tourism recovery and
offers opportunities for impactful investment.
Implementing impact investing in this sector can
foster its growth and enhance the practice of
sustainable economic development policies. In
2022, energy shortages and dependence emerged as
critical concerns for many countries. This has
created a need to explore alternative sources of
renewable energy and develop new commodity
markets to stimulate energy market development.
The hospitality industry, which has experienced a
rebound following the negative impact of the
COVID-19 pandemic, presents significant growth
potential. Consequently, impact investing in the
hospitality sector becomes crucial for both
developing and developed countries. Given the
current global environmental crisis, effective
international cooperation mechanisms are essential
to address environmental challenges. Impact
investing serves to improve the attainment of
sustainable economic development goals, propagate
environmentally friendly practices, and contribute to
addressing the global environmental situation.
It is essential to acknowledge the limitations of
this study. The study's findings may not be
universally applicable, as the impact of investment
can vary significantly depending on regional and
sectoral differences within the hospitality industry.
So future research should zoom in on specific
regions or countries to identify regional variations
and nuances in the effects of impact investing.
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Olena Zavadynska, Sergii Neilenko,
Nadiia Sapelnikova, Inna Krupa
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DOI: 10.37394/232015.2023.19.95
Liliia Honchar, Irina Verezomska,
Olena Zavadynska, Sergii Neilenko,
Nadiia Sapelnikova, Inna Krupa
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Contribution of Individual Authors to the
Creation of a Scientific Article (Ghostwriting
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DOI: 10.37394/232015.2023.19.95
Liliia Honchar, Irina Verezomska,
Olena Zavadynska, Sergii Neilenko,
Nadiia Sapelnikova, Inna Krupa
E-ISSN: 2224-3496
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