ASSESSMENT OF BUSINESS REPUTATION IN THE CONDITIONS OF UKRAINE'S EUROPEAN INTEGRATION

Abstract

The article examines the theoretical and practical aspects of business reputation assessment in the context of Ukraine’s European integration. Business reputation is defined as one of the most valuable intangible assets that directly affects competitiveness, financial stability, access to investment, and the formation of trust in both domestic and international markets. The study emphasizes that under globalization and European integration, the requirements for transparency, corporate responsibility, ethical business behavior, and sustainability significantly increase. For Ukrainian companies, positive reputation becomes not only an internal performance indicator but also a strategic factor of readiness for entry into the EU single market. The article reviews international and Ukrainian scientific approaches to reputation assessment. Works by C. Fombrun, M. Brummers, S. Goodfellow, and D. Helms highlight the role of corporate image, CSR, and ESG criteria in shaping long-term trust. Ukrainian scholars such as O. Amosha, T. Vasyltsiv, I. Boiko, and N. Orlova underline the lack of unified assessment methodology in Ukraine and the need to adapt European standards. The research identifies five main approaches: financial-economic (based on financial performance and investment attractiveness), marketing (customer loyalty and brand perception), communication (media analysis, corporate reporting, social media monitoring), institutional-regulatory (compliance with EU directives, ESG standards, sustainability requirements), and reputation-index approach (RepTrak, Reputation Quotient, European Corporate Reputation Index). The paper specifies key criteria and indicators for assessing reputation: financial stability, product and service quality, corporate social responsibility and ESG, ethics and transparency, innovativeness, corporate governance, image and communications. For each criterion, relevant indicators are proposed – from credit ratings, ISO and HACCP certifications, and sustainability reports to anti-corruption policies and stakeholder surveys. European practices are analyzed, including RepTrak rankings in Denmark and Spain (LEGO, IKEA), Reputation Quotient application in Germany (Siemens, BMW), ESG reporting under EU directives NFRD and CSRD, as well as Dow Jones Sustainability Index and national trust barometers. It is concluded that reputation assessment in the context of Ukraine’s European integration has dual importance: internally, it improves governance, communication, and strategic decision-making; externally, it acts as a determinant of competitiveness, investment attractiveness, and trust on the European market. Adapting EU reputation assessment standards will enhance Ukrainian companies’ integration readiness, contribute to sustainable development, and strengthen the international image of Ukraine as a reliable economic partner.