Assessment of relationships between smart technologies, corporate sustainability, and economic behavior of companies

Abstract

The object of this study is the economic behavior of companies. The study solved the problem of con-ceptualizing the economic behavior of companies, taking into account the need to adhere to the goals of sustainable development and the use of smart technologies. It has been established that to assess the level of sustainable development of companies, economic, environmen-tal, social, and managerial criteria based on corporate social responsi-bility are used. It is determined that smart technologies are associated with the introduction into production of cyber-physical systems integrat-ing information and communication technologies into physical processes. It has been established that cur-rently, in fact, an increase in the bur-den on the environment, extensive use of resources for the countries of the European Union and Ukraine activates the economic behavior of companies because the coefficient of the path for load indicators is 0.916. At the same time, increasing the use of smart technologies by 1 will increase economic development indi-cators by only 0.104. This indicates a lesser power of the link between eco-nomic behavior and the use of smart technologies. However, the statisti-cal significance and positive direc-tion of the relationship between eco-nomic behavior and the use of smart technologies gives reason to recom-mend that the management of indus-trial companies pay special attention to the development of the integration of smart technologies into business processes.