scholarly journals APPROACHES TO ASSESSING THE FINANCIAL SUSTAINABILITY OF HIGH-TECH ENTERPRISES IN MODERN CONDITIONS

2018 ◽  
pp. 11-15
Author(s):  
A. S. Mikaeva ◽  
Yu. B. Nadtochiy
Keyword(s):  
Performance Indicators ◽  
Financial Stability ◽  
High Tech ◽  
Financial Sustainability ◽  
Close Attention ◽  
Term Operation ◽  
Financial Condition ◽  
The Face ◽  
And Function

In modern conditions, enterprises of the high-tech sector of the economy (which is an indicator of the development of countries in the field of high technologies) have an important task - improving their financial condition. A stable financial condition is one of the performance indicators of any enterprise, the basis of its long-term operation. Improving the financial sustainability of high-tech enterprises, assessing and analyzing the sustainability of their financial condition in recent years have become the object of close attention, both theorists (scientists) and practitioners (entrepreneurs). The tightening of requirements for the financial sustainability of high-tech enterprises is partly due to economic globalization and the effects of the financial crisis. The article provides an overview of existing approaches to assessing the financial sustainability of domestic high-tech enterprises, and considers a comprehensive methodology for assessing the financial sustainability of modern enterprises. It is important to note that it is necessary to take timely measures to preserve the favorable financial condition of the company, or else measures to identify, analyze and eliminate the factors indicating deviations. Possessing the necessary, sufficient level of financial stability, enterprises of high-tech industries have the ability to successfully and effectively develop and function, even in the face of tough competition and economic instability.

Financial Sustainability and Infrastructure Finance

2018 ◽  
Author(s):  
Felipe Carvalho de Rezende
Keyword(s):  
Financial Institutions ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Financial Sustainability ◽  
Infrastructure Finance ◽  
Strategic Role ◽  
Development Banks ◽  
The Global Financial Crisis ◽  
Capital Development

Among the lessons that can be drawn from the global financial crisis is that private financial institutions have failed to promote the capital development of the affected economies, and to dampen financial fragility. This chapter analyses the macroeconomic role that development banks can play in this context, not only providing long-term funding necessary to promote economic development, but also fostering financial stability. The chapter discusses, in particular, the need for public financial institutions to provide support for infrastructure and sustainable development projects. It concludes that development banks play a strategic role by funding infrastructure projects in particular, and outlines the lessons for enhancing their role as catalysts for mitigating risks associated with such projects.

scholarly journals System of financial sustainability management of forestry enterprises of southern Ukraine

2021 ◽  
pp. 205-211
Author(s):  
I. Diadchenko ◽  
L. Sakharnatska
Keyword(s):  
Financial Stability ◽  
Steppe Zone ◽  
Financial Sustainability ◽  
Economic Potential ◽  
The South ◽  
Sustainability Management ◽  
Financial Condition ◽  
Forest Enterprises ◽  
Forest Lands ◽  
Southern Ukraine

The article considers the possibility of more efficient use of forest resources of the steppe zone of Ukraine, including by improving the level of financial stability of forestry enterprises in the South of Ukraine. For this purpose, on the basis of well-known principles of process algorithmization, a conceptual model of formation of the financial stability management system of forestry enterprises of the South of Ukraine is proposed. The presented model is based on the economic, social and environmental components (subsystems) of forestry enterprises and in each of them the necessary directions (possible effects) for improving the financial condition of economic entities are identified. The main reasons of normative and organizational nature, which make it impossible to increase the economic potential of forestry enterprises in the South of Ukraine, are highlighted. The directions of cooperation of forestry enterprises with local self-government bodies are offered, in particular: conclusion of commercial agreements on reconstruction of existing and creation of new parks and squares, construction of sanatoriums, cultural and entertaining, development of water purification and water-preserving functions of forest plantations. The mechanism of realization of the system of management of financial stability of the forestry enterprises which is based on realization by the forestry enterprises of a complex of the corresponding organizational and technical and administrative actions is presented. which consists in the implementation of the relevant stages of the enterprise, in particular: capitalization of own assets, identification of sources of funding and diversification of activities. It is substantiated as one of the directions of diversification of forestry enterprises, creation of energy crops on forest lands that cannot be used for other needs, and production of pellets from them for further sale. In particular, based on the calculations, it is proved that the proposed direction of diversification of forest enterprises in the South of Ukraine will not only improve their financial condition, but also attract low-value lands that are unsuitable for growing forests and crops, eventually improving their structure and content.

scholarly journals PROBLEMS FOR ANTI-CRISIS ANALYTICAL PROCEDURES OF FINANCIAL STABILITY OF TRADE ENTERPRISES

2020 ◽  
Author(s):  
Ludmila Anipko ◽  
◽  
Irina Klimovych ◽  
Keyword(s):  
Financial Stability ◽  
Regression Equation ◽  
Regression Coefficients ◽  
Regression Equations ◽  
Financial Condition ◽  
Financial Audit ◽  
Analytical Procedures ◽  
Financial Monitoring ◽  
Complex Indicators

Anti-crisis analytical procedures the financial stability of trade enterprises (hereinafter – AP FS) are part of the internal financial audit of economic activity. The system of financial monitoring is practically acceptable for the implementation of AP FS. The developed classification allows to determine the ability of the enterprise to implement AP FS. An analytical method has been developed that allows, based on the analysis of the financial condition and multivariate forecast, to develop measures to ensure the financial stability of the trade enterprise continuously. By interpolation, the study of the current financial situation, and extrapolation – a multivariate forecast, the numerical value of the integrated (complex) indicator that characterizes financial stability is determined by the regression equation, including factors listed in the classification, the significance of which is determined by regression equations. Based on the analysis of the numerical values of the regression coefficients, it is possible to determine the most important factors that affect the financial stability of trade enterprises, and those that have almost no effect on it. Components with significantly small numerical values of the regression coefficients can be generally discarded. This will reduce the number of indicators that affect financial stability and thus, you can reduce the number of components in the regression equation to the two three most important, which allows you to solve the problem of optimization. The expediency of using integrated and complex indicators is shown. The obtained results are only an information basis for the economic administration of the trade enterprise in making management decisions, the formation of long-term plans. The developed approaches to assessing the financial stability of enterprises are universal and can be used for enterprises in other sectors of the economy.

scholarly journals Analysis of sensitivity of a company's financial sustainability to random factors

2020 ◽  
Vol 210 ◽  
pp. 13002
Author(s):  
Ilona Avlasenko ◽  
Lyudmila Avlasenko ◽  
Isa Peshkhoev ◽  
Yuri Podkolzin ◽  
Oksana Savelyeva
Keyword(s):  
Financial Stability ◽  
Unstable State ◽  
Financial Indicators ◽  
Financial Condition ◽  
Distribution Parameters ◽  
Normal Stability ◽  
Normal Law ◽  
The Impact ◽  
Enterprise Activity

In this article the problem of influence of accidental changes of financial indicators of enterprise activity (equity, long-term/short-term borrowed capital, reserves and costs, etc.) caused by uncertainty of market conditions on values of indicators of financial stability is considered. The study is conducted on the basis of the assumption that the studied financial indicators of the enterprise are random values with a normal law of distribution. To estimate the distribution parameters of these random values, statistical data on the values of the financial indicators of the enterprise for previous years are used. Following estimates of probabilities of financial stability levels were built: absolute stability, normal stability, unstable state and crisis financial state. With the help of statistical modeling, numerical experiments were conducted in order to determine the level of financial condition and conclusions were formulated on the impact on the financial condition of the enterprise of the parameters of the distribution of probabilities of random variables - indicators of the financial and economic activity of the enterprise.

A politico-economic perspective on financial sustainability

2014 ◽  
Vol 26 (1) ◽  
pp. 140-164 ◽  
Author(s):  
Tilman Slembeck ◽  
Armin Jans ◽  
Thomas Leu
Keyword(s):  
Financial Stability ◽  
Time Inconsistency ◽  
Financial Sustainability ◽  
Problem Of Time ◽  
Public Finances ◽  
Long Run ◽  
Maastricht Criteria ◽  
The Cost ◽  
Large Primary

Financial sustainability requires governments to run sufficiently large primary surpluses going forward to cover the cost of servicing its debt budgets to balance in the long run. In democracies, politicians who strive for reelection often tend to systematically violate this tenet. This paper discusses two types of “anchors” that may be used to cope with this problem by limiting the room for new and excessive public debt. First, we analyze national constitutional safeguards on the basis of the “debt brake” in Switzerland and Germany. Second, we discuss international institutions to maintain financial discipline, referring to the Maastricht-criteria. These anchors are designed to allow policymakers to commit to policies that provide long term financial stability and sustainability of public finances. However, as the recent crises have shown, the problem of time inconsistency in policy making remains, especially when anchors are weak. Therefore, the paper discusses the circumstances under which institutional anchors may help to restrict politician behavior to promote sustainability of public finances. We conclude by indentifying three conditions required for the proper functioning of collective anchors in the context of public finances.

scholarly journals Influence of financial sustainability of households on default risks of regulated banks

2020 ◽  
Vol 159 ◽  
pp. 05015
Author(s):  
Zuhra Yergasheva ◽  
Saltanat Kondybayeva ◽  
Ryszhan Kabylkairatkyzy ◽  
Gulmira Yesengeldiyeva
Keyword(s):  
Financial Stability ◽  
Financial Sector ◽  
Financial Sustainability ◽  
The Real ◽  
Household Sector ◽  
Financial Condition ◽  
Credit Risks ◽  
Default Risks ◽  
The Republic ◽  
The Impact

The purpose of the article is to assess the financial sustainability of the household sector of the Republic of Kazakhstan and its impact on the real and financial sector in the context of minimizing the credit risks of the regulated banks of the Republic of Kazakhstan. The paper analyzes various points of view on assessing the financial sustainability of the household sector, makes a successful attempt to assess at a macroeconomic level the financial sustainability of households and the drawing potential of households in Kazakhstan using the OECD and IMF methods. The work made a holistic analysis of the financial condition and solvency of households in Kazakhstan, a forecasted VAR-model for assessing the impact of household financial sustainability on the state of the real sector of the economy has been developed; a regression model for assessing the impact of financial stability of households on the financial sector of Kazakhstan has been developed.

Tools for Sustainable Development of High-Tech Enterprises in the Face of Current Challenges and Threats

2015 ◽  
Vol 4 (4) ◽  
pp. 4-13 ◽  
Author(s):  
Пименов ◽  
Vladimir Pimenov ◽  
Быстров ◽  
Andrey Bystrov ◽  
Калиматова ◽  
...  
Keyword(s):  
Sustainable Development ◽  
Financial Stability ◽  
Economic Security ◽  
High Tech ◽  
Industrial Complex ◽  
Russian Economy ◽  
Close Relationship ◽  
The Face ◽  
Research Findings

The current challenges and threats undermine economic security of the most production enterprises, primarily as the result of such environmental factors, as sanctions and declining oil prices, which in turn significantly affects the whole Russian economy, heavily dependent on energy resources exports. These external factors also threaten the financial stability and create prerequisites for crisis situations at the enterprises, ultimately undermining their economic security. The paper reveals the close relationship between such concepts, as sustainability and economic security, and shows the role of financial strategy as one of the tools to ensure sustainable development of an enterprise under the mentioned conditions. The research findings are considered through the case study of high-tech enterprises within the defence-industrial complex of this country.

Approaches to Determining the Financial Sustainability of the Region

2018 ◽  
Vol 6 (5) ◽  
pp. 50-53
Author(s):  
Рашад Ибрагимов ◽  
Rashad Ibragimov
Keyword(s):  
Sustainable Development ◽  
Financial Stability ◽  
System Approach ◽  
Regional Economy ◽  
Financial Sustainability ◽  
The Sustainable Development ◽  
Qualitative And Quantitative ◽  
Definition Of ◽  
Regional Authorities

The article examines the approaches to determining the financial stability of the region, which reveals the main essence of financial stability. Guided by the experience of leading researchers, the key determinations of financial sustainability and their factors based on which it is possible to prevent its crisis situations are explored. The article describes the methods of the system approach to the definition of financial stability, which reveal the signs of financial stability. The main groups of factors that affect the financial stability of the region are identified. Based on the conducted research, qualitative and quantitative parameters of financial stability factors that determine the sustainable development of the financial system are revealed. The results of the research have a practical value of research, which in the long term can be used by regional authorities to develop a strategy for sustainable development of the regional economy.

scholarly journals ESTIMATION OF FINANCIAL STABILITY OF AGRARIAN ENTERPRISES IN UKRAINE

2021 ◽  
pp. 40-52
Author(s):  
Nadia Davidenko ◽  
Natalia Wasilewska
Keyword(s):  
Risk Management ◽  
Financial Stability ◽  
Financial Sustainability ◽  
Enterprise Integration ◽  
Financial Decisions ◽  
Agricultural Enterprises ◽  
Factors Influencing ◽  
Governance Systems ◽  
The Face ◽  
Strategic Goals

In this paper the system of factors influencing the formation of financial solvency was investigated, the financial sustainability of agricultural enterprises of Ukraine was evaluated, and an approach was developed to define and help ensure the financial sustainability of enterprises in the face of contemporary economic and market challenges. According to the research, the main principles for maintaining financial sustainability are: responsiveness to internal and external changes; governance systems; risk management; analysis of financial ratios; real assessment of the financial solvency of the enterprise; integration with the overall management system; orientation towards achieving the strategic goals of the enterprise; use of qualitative methods to inform financial decisions in the face of uncertainty and risk.

scholarly journals Financial sustainability as a factor of forming fiscal space of local budgets

2021 ◽  
pp. 4-16
Author(s):  
Taisiya H. Bondaruk ◽  
Igor S. Bondaruk ◽  
Maksym V. Dubyna
Keyword(s):  
European Commission ◽  
Local Governments ◽  
Financial Stability ◽  
Practical Significance ◽  
Financial Sustainability ◽  
Local Authorities ◽  
Fiscal Space ◽  
State And Local ◽  
Theoretical Foundations

The purpose of the research is to deepen the theoretical foundations of financial stability as a factor in shaping the fiscal space of local budgets and substantiate the methodological tools for assessing the financial stability of local budgets of Ukraine in the medium and long term. Methods. The following research methods were used in analysing the problem: induction, deduction, system approach, statistical analysis, logical generalization, graphical method. Results. Fiscal extension gives the opportunities to local authorities to obtain and use extra budget resources for achieving the goal taking into account the restrictions caused by the necessity to maintain the financial sustainability in mid- and long-term periods. A methodological toolkit for assessing the financial sustainability of local budgets in mid- and long-term periods is proposed. The complex of arguments for the appropriate applying of the estimation of financial sustainability of local budgets in the national practice using the methodology of the European Commission in the mid-term period is given. It is substantiated that the development of strategic directions for ensuring the long-term financial sustainability of local budgets in Ukraine should take place with the use of foresight. It is substantiated that the fiscal space provides opportunities for local governments to obtain and use extra budgetary resources to achieve a certain goal, taking into account the constraints due to the need to maintain financial stability in the medium- and long-term periods.  Methodical tools for assessing the financial stability of local budgets in the medium- and long-term periods are proposed.  A set of arguments on the expediency of applying the methodology of the European Commission in the medium-term period in the native practice of calculating the financial stability of local budgets is presented.  It is substantiated that the development of strategic directions to ensure long-term financial stability of local budgets of Ukraine should take place using foresight. Practical meaning. The practical significance of the obtained results is in the possibility of using methodological tools to assess the effectiveness of local budget sustainability management by state and local authorities in developing and making management decisions to regulate the level of financial stability of local budgets. Prospects for further research. The formation of theoretical foundations of financial stability as a factor in the formation of the fiscal space of local budgets and substantiation of methodological tools for their assessment in the medium and long term periods confirms the need for further scientific substantiation of strategic directions of long-term financial stability of local budgets in Ukraine under the condition of decentralization.

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