Institutional Support for the Use of Stock Exchange Mechanisms and Features of Accounting in Financing Tourism Projects in Crisis Conditions

Abstract

The article explores the theoretical and applied foundations of using exchange mechanisms in the financing of tourism projects at the regional level, particularly under conditions of financial and institutional instability caused by military aggression. Given the limited budgetary resources and the need to diversify capital sources, the relevance of integrating the tourism sector into the instruments of the stock market is substantiated as one of the directions for ensuring sustainable development. The study outlines key theoretical approaches to analyzing exchange instruments within the infrastructure financing system and clarifies the role of accounting as a critical institutional component that ensures transparency, reliability, and legal clarity in financial operations involving securities.

A critical assessment is provided of both institutional and accounting-regulatory barriers that hinder the participation of tourism enterprises in the public capital market. The paper proposes a structural model of institutional support for the use of exchange mechanisms in tourism, based on four interrelated components - institutional, regulatory, stakeholder, and coordination mechanisms - enhanced with accounting and analytical support. Special attention is paid to the guiding principles of the model - transparency, accessibility, publicity, and risk management - which are intended to ensure its resilience under crisis conditions.

The Lviv region is presented as a pilot area for testing the proposed model, considering its infrastructural potential, tourism attractiveness, and regional economic characteristics. The article highlights expected outcomes of implementation, including reduced dependence on budgetary financing, increased financial self-sufficiency of tourism entities, and the standardization of accounting practices within an exchange-integrated environment. The results obtained form a conceptual foundation for the further development of regional tourism policy in the post-crisis period, in line with the principles of public financial management.