Development of a Scorecard and a Mathematical Model for an Aggregated Assessment of the G-component of Small and Medium-Sized Enterprises of the Agro-Industrial Complex within the Framework of the ESG Conception
Chikov I. A.

Chikov, Illia A. (2025) “Development of a Scorecard and a Mathematical Model for an Aggregated Assessment of the G-component of Small and Medium-Sized Enterprises of the Agro-Industrial Complex within the Framework of the ESG Conception.” The Problems of Economy 3:160–175.
https://doi.org/10.32983/2222-0712-2025-3-160-175

Section: Economics and Enterprise Management

UDC 338.22:519.87:338.436-02232

Abstract:
The article defines that the managerial component of the ESG conception is the foundation for implementing environmental and social initiatives, as the quality of corporate governance determines a company’s ability to adapt to external challenges, ensure transparency, attract investments, and build trust with stakeholders. In agri-food SMEs, where resources and management structures are often limited, the lack of systematic approaches to evaluating the governance component complicates their integration into global sustainable development initiatives, restricts access to financing, and reduces competitiveness. Therefore, developing a unified system of indicators and a mathematical evaluation model adapted to industry-specific characteristics is a relevant scientific and practical task. The aim of the study is to develop a system of indicators and a mathematical model for assessing the managerial component of agri-food SMEs within the ESG framework, aimed at enhancing their competitiveness and alignment with the Sustainable Development Goals (SDGs). The proposed indicator system integrates ESG and SDG principles and provides a quantitative assessment, facilitating comparisons between enterprises, promoting reporting transparency, and increasing appeal to investors. The mathematical model for the aggregated G-component evaluation is based on the weighted sum of 16 indicators, considering their contribution to achieving the SDGs. The model uses an SDG coefficient, which reflects the intensity of the links between each indicator and the corresponding Sustainable Development Goals. Indicator weights allow flexible adaptation of the model to the specifics of an enterprise, for example, giving greater weight to financial indicators during periods of economic instability. The four-level assessment scale clearly segments management status, providing practical recommendations for each level. The system of indicators and the mathematical model serve as a foundation for internal audit, strategic planning, and communication with stakeholders, including investors, banks, local communities, and others. The implementation of G-practices helps reduce operational and reputational risks, increase partners’ trust, and facilitate access to ESG-oriented investments. Unlike existing approaches, which often focus on large corporations or are excessively formalized, the proposed system of indicators and mathematical model, through integration with the SDGs, provides a comprehensive approach to evaluating and enhancing the quality of corporate governance in agricultural SMEs, combining local management practices with global sustainable development priorities.

Keywords: ESG conception, G-component, Sustainable Development Goals, system of indicators, corporate governance, mathematical model, aggregated indicator, institutional foundations.

Fig.: 2. Tabl.: 7. Formulae: 4. Bibl.: 28.

Chikov Illia A. – PhD, Associate Professor, Associate Professor, Department of Computer Science and Economic Cybernetics, Vinnytsia National Agrarian University (3 Soniachna Str., Vinnytsia, 21008, Ukraine)
Email: ilya95chikov@gmail.com

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