Personal Data Protection Policy Impact on the Company Development

Abstract

This research paper deals with identifying the basic prerequisites for the IT companies’ development in terms of tightening requirements for personal data protection. The article aimed at assessing the impact of personal data protection policy on the company development through the assessment of the efficiency of the use of intangible assets. The following methods were used in achieving this aim: comparative analysis, the method of horizontal analysis of company performance, correlation and regression analysis, graphical analysis, as well as the method of expert survey of the impact of macro-environmental factors on the company profitability level. It is established that the degree of personal data protection of customers of IT companies directly affects the financial performance of companies and contributes to the development of IT companies. The article proves that poorly developed personal data protection system of Ukrainian companies is related to the regulatory framework of the creation and registration of personal databases. The main world trends in the development of personal data protection were identified through the study of the provisions of international policy frameworks as compared to the legislation of Ukraine. The main area of application of the results obtained by the author are IT companies, in particular in the management of profitability in the context of strengthening the personal data protection. The obtained results are a contribution to scientific achievements in the field of personal data protection and business development for Central European countries. This is primarily due to the novel research objective.