CONCENTRATION OF CAPITAL: CURRENT TRENDS AND DEVELOPMENT PROSPECTS

Abstract

The article examines the features and specifics of capital concentration in the context of global digitalisation of social development. The current trends in capital concentration are revealed. The statistical data reflecting the dynamics of capital concentration in recent years are analysed. The international experience of regulating the processes of capital concentration is analysed and the consequences of their impact in the context of globalisation are revealed. The potential consequences of the impact of the state policy in the field of capital concentration on the development of digital markets are determined. It is established that foreign investors dominate in terms of the value of transactions, but the number of such transactions is insignificant and mostly involves the acquisition of businesses of Ukrainian owners abroad. It is found that in terms of the number of transactions, the advantage is on the side of Ukrainian serial venture capital investors who consolidate businesses of a similar profile. It is determined that most often the purpose of such investments is venture capital in nature, i.e., it provides for the possibility of achieving high profitability even in the event of a loss of investment or failure of certain parts of the portfolio. The article reveals that there is a significant potential for market growth after the security situation improves: even in times of war, the market shows growth in both quantity and value, and thus the mere elimination of security threats will attract foreign investors and lead to an increase in the value of transactions. The article proves that, in terms of the number of transactions, the advantage is on the side of Ukrainian serial venture capitalists who consolidate businesses of a similar profile; most often, the purpose of such investments is venture capital in nature, i.e., it provides for the possibility of achieving high profitability even in the event of a loss of investment or failure of certain parts of the portfolio. The author concludes that the average value of transactions in Ukraine, excluding the largest ones, which are rather an exception than a typical one, continues to fall. It is proved that this is partly due to the global turbulence in the technology industries, where the artificial intelligence segment has become the growth leader, with its share in the structure of Ukrainian transactions being relatively insignificant.