scholarly journals CORPORATE STRATEGY FOR ATTRACTING FINANCIAL RESOURCES OF THE COMPANY

2021 ◽  
Vol 1 (72) ◽  
pp. 12-15
Author(s):  
D. Korneva

The article provides an overview of the essence and concept of a financial strategy for attracting financial resources of an enterprise. The article reflects the goals and objectives of developing a strategy for attracting financial resources. A financial strategy can be defined as an economic category that is subject to the laws of the market. The financial strategy is used as a lever for the economic growth of the company. Improving the efficiency of the organization's financial resources lies in modern ways of their formation and use. The formation of financial resources depends on the production activity of the entire enterprise as a whole, which is why it is important to competently develop a financial strategy that will be aimed at optimizing production and, as a result, increasing profits from sales. The financial strategy is developed taking into account inflation, the risk of non-payments and other force majeure circumstances.

Author(s):  
Olga Rudkovskaya ◽  
Vladimir Gerasenko

The article considers approaches to the definition of strategic financial planning, reveals their shortcomings and advantages. Objective: To create a methodological basis for the development of the organization's financial strategy. Methodology: The article is based on the results of research of modern domestic and foreign theories of strategic planning. Application of the results: Increase the validity of the management decisions made based on the results of strategic financial planning. Conclusions: Strategic financial planning is proposed to be considered from the point of view of the system and process approach, which will allow to create an effective functional apparatus, including a system of goals and objectives, principles and tools for the formation and use of financial resources to carry out the activities on developing the directions of organization growth. The formed algorithm of developing a strategic financial planning model allows to take into account the organization’s life cycle stage and its market position in the industry when determining the target parameters of financial development in the long term perspective. An indicator of maximizing the return to capital represented by own and borrowed funds is proposed as a key indicator of the model under consideration. Complying with the set of limitations developed, this indicator provides a more reliable and comprehensive assessment of organization’s development planned directions.


2021 ◽  
Vol 14 (2) ◽  
pp. 124-140
Author(s):  
Tat'yana Yu. KISELEVA ◽  
Lola D. SANGINOVA

Subject. The article discusses the financial aid the State provides to business during the COVID-19 crisis. Objectives. We analyze the financial aid the State provides to the Russian businesses as a single model, considering the national specifics. Methods. The study involves methods of analysis and synthesis, comparative analysis, generalization, etc. The study is based on factual and official data for H1 2020. Results. There is a national model of the financial aid the State provides to businesses in Russia, which is intended to temporarily provide businesses with funds in force majeure and ensure their uninterrupted operation, protect small and medium-sized business and market competition. We analyze key tools of the State support and substantiate our suggestions how it should be maintained for certain types and areas of business in the post-crisis period. Conclusions and Relevance. The current situation with COVID-19 made the State organize business support, provide businesses with financial resources on certain terms or use business protection tools.


2021 ◽  
Vol 2 (5) ◽  
pp. 27-31
Author(s):  
I. V. SUGAROVA ◽  
◽  
N. V. TADTAEVA ◽  

In the modern world economy, most countries lack the financial resources to fully perform their duties and functions to their citizens. The consequence of the increase in borrowing by countries is the growth of public debt. Its management is becoming one of the most acute problems in the current conditions. The article presents the main aspects of this problem, and suggests measures to stimulate the country's economic growth.


2021 ◽  
Vol 2 (3) ◽  
pp. 75-82
Author(s):  
O. R. TEGETAEVA ◽  
◽  
L. V. BASIEVA ◽  
A. A. BALIKOEVA ◽  
◽  
...  

The article highlights theoretical approaches to defining the concepts of budgetary provision of the budgets of the constituent entities of the Russian Federation. In this regard, an analysis of changes in the levels of subsidization of regional budgets is carried out, taking into account changes in the methods of distributing subsidies to regions, an assessment is made of the impact of changes in the management of public financial resources on the economic growth of regions.


2017 ◽  
Vol 18 (1) ◽  
pp. 64-75 ◽  
Author(s):  
Ben Shepherd

This article uses firm-level data for India to examine the determinants of innovation activity, focusing on variables related to economic openness. Firms that export and those that import are found to be significantly more likely to engage in innovation, defined sequentially as the introduction of new products, new processes, new systems, or devotion of financial resources or time to research and development. Concretely, exporters are 22 per cent more likely to introduce a new product than non-exporters, while the corresponding figure is 66 per cent for importers. Openness to trade is, therefore, a key determinant of firm-level innovation, which is a key component of economic growth.


1987 ◽  
Vol 5 (1) ◽  
pp. 81-88 ◽  
Author(s):  
R-D Postlep

In this paper the property tax (Grundsteuer B) in Germany is evaluated as a local business tax. The tax is discussed from the perspective of its impact on economic growth, business cycle behaviour, and the spatial allocation of local government financial resources. It is concluded that, taken together, the impacts of the local property tax do not suggest that the tax could not be used to a greater extent, particularly when compared with the present local business tax on profits and assets.


2021 ◽  
Vol 9 (06) ◽  
pp. 287-293
Author(s):  
Abduraimova Nigora Radjabovna ◽  

The paper reveals the essence of the system of public financial management (PFM), defines its key elements of the PFM system, and articulates goals and objectives in enhancing employment. The authors definition of PFM is given. A comparative analysis of managerial financial cycles in the public and private sectors of the economy is carried out. The historical aspect of the PFM reforms is also analyzed, and various approaches to financial management (income and expenditure) in the public sector are studied and suggested better ways to improve the busyness of the population. Factors influencing the effectiveness of the PFM reforms are revealed. The challenges faced by financial managers in implementing public finance reforms are analyzed, and the opportunities that can be used to achieve the objectives of the PFM system, some of which are simultaneously challenges are analyzed.


Author(s):  
Dmytro Nesterenko ◽  
Olena Parkhomenko

The article reveals the role of the process of attracting sources of funding for activities. Depending on the source of financing and the method of attracting them, three main financing mechanisms are identified: counterparty, credit and capital market. The peculiarities and advantages of some ways of attracting financing are identified and analyzed. Also, the mechanism of planning of attraction of financial resources considering a real financial position of the enterprise is formed. It is proved that in conditions of fierce competition the company's growth rate has a key impact on the factors of the company's continued existence in the market. The formation of a base for attracting investment in advance provides a stable and affordable source of funds for further expansion. An algorithm for forming the capital structure considering the current financial and economic condition of the enterprise has been developed. Opportunities for the company's growth are directly related to the availability of financial resources that can be obtained from various sources. The decision to use certain sources influences time and financial costs for obtaining and securing borrowed capital and for the diversification of government entities over the company, which to some extent pursue their own goals. Therefore, when building a financial strategy of the enterprise it is important to rationally and pragmatically approach the definition of ways to use financial resources and combine different sources of business financing. The effectiveness of the entire financial strategy of the enterprise largely depends on how correctly and in detail the choice of capital structure was worked out. Using the company's management of the proposed algorithm for the formation of capital structure optimization stage, as well as in the implementation phase of expansion with external sources funded, will allow the company to better attract and use the attracted financial resources without losing the investment attractiveness for future creditors and investors and not losing trust from other financially interested stakeholders.


Author(s):  
Iryna Adamenko

Relevance of the research topic. In the conditions of economic transformations the financial strategy acts as the important economic lever of influence of public administration bodies on social and economic development of the country. The assessment of the mechanism of financial regulation in Ukraine indicates the need to develop the components of the financial system in conjunction with the transformational economic processes and the development of a sound financial strategy in accordance with the goals and objectives of social development. Formulation of the problem. The importance of developing a financial strategy in the context of economic transformation is due to the need to take into account the impact of internal and external challenges in the financial and economic environment, economic fluctuations due to the spread of the coronavirus pandemic. At the same time, the choice of financial strategy tools should be made taking into account the level of economic development of the country. Analysis of recent research and publications. The issue of developing a financial strategy is quite common in research. These are the works of famous domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, W. Tanzi, S. Kucherenko, L. Lysyak, L. Levaeva, I. Lukyanenko, V. Makohon, M. Pasichny, I. Chugunov and others. Selection of unexplored parts of the general problem. The above issues are relevant in connection with the deepening of economic transformation, the adverse impact of the Crown virus pandemic on the financial sector, which requires a number of specific tasks related to the development of financial strategy. Problem statement, research goals. The objectives of the study are: to reveal the role of financial strategy in the regulation of socio-economic processes, to substantiate the peculiarities of the development of the components of the financial system. The purpose of the study is to reveal the directions of financial strategy in the context of economic transformation. Method or methodology of the study. The article uses a set of research methods: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Presentation of the main material (results of work). The role of financial strategy in the regulation of socio-economic processes is revealed, the peculiarities of formation and implementation of financial strategy are substantiated. The directions of financial strategy in the conditions of economic transformations are substantiated. Field of application of results. The results of the study can be used in the process of formation and implementation of financial policy of Ukraine, reforming the domestic financial system and its components. Conclusions in accordance with the article. The qualitative level of formation and implementation of financial strategy is determined by the system of financial institutions, the state of their development in a particular country aimed at ensuring economic growth and welfare of citizens. The functional purpose of financial strategy is the result of the evolution of the role and importance of state functions in socio-economic development. Depending on the dynamics of socio-economic processes, the tasks of the financial strategy and the tools for its implementation should be adjusted. The financial strategy in the conditions of economic transformations should be directed on formation of long-term potential of economic growth and increase of well-being of the population taking into account demographic tendencies and indicators of the macroeconomic forecast of social and economic development of the country.


2019 ◽  
pp. 125-132
Author(s):  
Iryna Tsymbaliuk

Purpose. The aim of the article is the development of the inclusive regional development concept, which is seen as the response to the opportunities and threats that the decentralization of power and the financial decentralization of formed territorial communities. Methodology of research. Conventional economic methods are used in the study, in particular: monographic and system-structural, which are used in the development of the inclusive regional development concept in the conditions of decentralization. Findings. It is determined that global trends are oriented towards achieving the prospects of sustainable and inclusive development. The suggested concept of inclusive regional development is adapted to the new conditions taking this into consideration, and taking into account the current processes of financial decentralization taking place in Ukraine. The suggested definition of inclusive development reveals its content and ways of achieving social and economic growth, improving the quality of life of the population. The basic conceptual idea of inclusive regional development is formed and to define the goals, objectives and ways of its implementation. The essence and the author`s vision of financial decentralization as a process of transfer from the central to the local self-government bodies of financial resources, powers, making decision rights in order to better meet the needs of the population in obtaining public goods, intensify the economic growth of the respective territories are disclosed. The main components of the financial decentralization mechanism (methods, tools, principles, forms and factors) are characterized. The definition of the regional self-development mechanism in the conditions of financial decentralization is given and the imperatives of regional self-development mechanism functioning in the conditions of financial decentralization are revealed. Determinants of inclusive regional development are identified, which in their interaction create a synergistic effect for the sustainable development goals achieving. The article proves the necessity of further investigation of theoretical and institutional foundations of regional development with a view to implementing the decentralization of power policy and the necessity of adequate financial support of these processes. Originality.The concept of inclusive regional development under the conditions of financial decentralization is substantiated, which provides for optimal allocation of the financial resources of local self-government bodies accumulated in the local budget due to the effective use of opportunities from financial decentralization and minimizing its potential threats, in order to achieve sustainable development of the region with maximizing the share of the community social product and ensuring a fair distribution of the benefits received on the basis of inclusive growth. Practical value. The obtained results of the study are the basis for solving practical problems of regional development in the context of decentralization in Ukraine. Key words: inclusive regional development concept; financial decentralization; financial decentralization mechanism; financial decentralization factors; inclusive development; region`s self-development mechanism.


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