scholarly journals Diagnostics of the State of Agricultural Enterprises Financial Security

2021 ◽  
pp. 52-60
Author(s):  
Olha Kovalenko ◽  
◽  
Liudmyla Yashchenko ◽  
Keyword(s):  
Financial Stability ◽  
Negative Impact ◽  
Methodological Approach ◽  
Developed Countries ◽  
The State ◽  
Financial Security ◽  
Net Income ◽  
Scoring Method ◽  
Agricultural Enterprises ◽  
Analysis Of Dynamics

In the conditions of rapid changes in the modern market environment, it is extremely important for agricultural enterprises to respond in a timely manner to threats to their financial security. Therefore, economic diagnostics is of significant methodological importance, and makes it possible to learn about economic problems and interpret the results of enterprises activity that have certain deviations from the norm or the state required for the enterprise. The subject of the study is a set of theoretical, methodological and practical aspects of diagnosing the state of financial security of enterprises. The purpose of the article is to diagnose the state of financial security of agricultural enterprises on the basis of the proposed methodological approach and to substantiate proposals for its improvement. The methodological basis of the diagnostics used in the study was: methods of theoretical generalizations, financial analysis, scoring method, analysis of dynamics and structure, linear programming. The article reveals the tasks and areas of management of Ukrainian agricultural enterprises with an emphasis on the protection of their specific financial interests – ensuring liquidity, solvency, financial stability, autonomy and others. For research purposes all Ukrainian agricultural enterprises were classified on the size of the net income. The system of indicators for diagnostics of financial security of the agricultural enterprises was offered. The basic structural elements of the mechanism of financial security management were substantiated. According to the diagnosis results, it was found that the state of financial security of large enterprises in 2018-2019 has deteriorated and it has had a negative impact on their solvency. Instead, the financial security of small and medium-sized enterprises has improved. Based on the experience of developed countries, proposals for public policy instruments to promote financial security of agricultural enterprises were proposed.

The Threats of Ukraine Financial Security: Identification and Systemization

2019 ◽  
pp. 73-80
Author(s):  
Oleksandra Maslii ◽  
Andrii Maksymenko ◽  
Svitlana Onyshchenko
Keyword(s):  
Financial Stability ◽  
System Development ◽  
Financial System ◽  
Economic Security ◽  
The State ◽  
Financial Security ◽  
Monitoring And Control ◽  
Development Indicators ◽  
Security Indicators ◽  
And Control

Place of monitoring and control of risks of financial stability of the state in the system of ensuring financial security of the state was substantiated. Methods of identifying threats to Ukraine's financial security through the current and strategic analysis of financial system development indicators were considered. Tendencies of economic development of Ukraine in the context of revealing sources of threats to financial stability of the state were analyzed. Dynamic analysis of the actual values of the financial security indicators of Ukraine as a whole and its separate components had been carried out. Threats to Ukraine's financial security were identified based on comparative and trend analysis. Reasons for the critical state of debt, banking and monetary security in the financial structure and the preconditions for the emergence of systemic threats had been investigated. Systematization of risks and threats to Ukraine's financial security by its components had been carried out. Influence of systemic threats in the financial sphere on the economic security of the state was generalized. International experience of monitoring financial stability of the state was analyzed. Additional risks to the national financial system are associated with the globalization and digitization of the state financial system that are not taken into account by valid methodological recommendations for calculating the level of economic security of Ukraine were highlighted.

scholarly journals DIAGNOSIS OF THE LEVEL OF FINANCIAL DECENTRALIZATION OF LOCAL BUDGETS ON THE BASIS OF INTEGRAL EVALUATION

2021 ◽  
Author(s):  
Yurii Puhach
Keyword(s):  
Financial Stability ◽  
Local Level ◽  
The State ◽  
Financial Resources ◽  
Financial Security ◽  
Regional Strategies ◽  
Self Development ◽  
Decentralization Reform ◽  
Objective Description ◽  
Functional Components

The process of implementing socio-economic change at the local level is closely linked to administrative reform and financial decentralization as important tools for regulating and allocating budget funds. Problems of reforming the administrative-territorial system, the formation of budgetary policy of the regions with the expansion of powers should be based on the development of regional strategies and a comprehensive analysis of financial resources. Approaches to the economic analysis of the efficiency of the allocation of financial resources in the context of decentralization reform are becoming increasingly important. The analysis of individual indicators somewhat narrows the perception of economic processes and does not allow to assess the level of provision of funds of administrative-territorial units by areas and in general. The issues of improving the methods and tools for assessing the financial resources of local budgets in the context of decentralization are becoming important. The article proposes improved approaches to the analysis of the level of financial decentralization of local budgets on the basis of aggregate indicators by areas. The technique allows analyzing the state of resource-functional components over time. The application of integrated assessment contributes to the objective characterization of the level of financial security of the regions, the revision and development of economic opportunities in the context of limited resources of local budgets. The proposed approach contributes to the formation of an objective description of the level of financial security of the region, and hence the financial opportunities for self-development. The methodology reveals the state of resource-functional components, the dynamics of deviations of integral values, allows monitoring of quantitative benchmarks to achieve the desired level of financial stability of regions and allows focusing on objective reasons for real financial decentralization in Ukraine. The results of the analysis focus on the assessment of regional development trends in the context of financial decentralization and form the need for further research in this direction.

scholarly journals Financial literacy in Ukraine: from micro to macro level

2019 ◽  
Vol 16 (4) ◽  
pp. 240-253 ◽  
Author(s):  
Oksana Dudchyk ◽  
Iryna Matvijchuk ◽  
Mariia Kovinia ◽  
Tetiana Salnykova ◽  
Iryna Tubolets
Keyword(s):  
Financial Literacy ◽  
Financial Stability ◽  
Foreign Currency ◽  
State Level ◽  
The State ◽  
Macro Level ◽  
Financial Market Development ◽  
The Government ◽  
Analysis Of Dynamics ◽  
Statistical Indicators

Low financial literacy of population hinders the financial market development, limits the possibilities of using the savings for investing and creating the additional capital in the country. At the state level it results in inflation, the budget deficit creation, a decrease in country’s gold and foreign exchange reserves, an increase in internal and external government debt. The article analyzes the approaches to understanding the concept of financial literacy, tools for its measuring and comparing at micro and macro levels, dynamics of savings and gold and foreign currency reserves, peculiarities of financial literacy through the analysis of dynamics and structure of revenues and expenditures of the government budget and the population of Ukraine. Factors influencing the financial literacy of the population have been systematized. The findings give an idea of creating the optimal managerial influence based on the estimation of financial literacy of the Ukrainian population with the help of specific statistical indicators to expand the possibilities of such influence and to regulate the economic processes to achieve the financial stability of the state and the population. The study showed low financial literacy at both population and state levels. However, at the micro level, creating the credit relations, as well as income, expenses, and savings is more effective than at the macro level.

scholarly journals FINANCIAL SECURITY OF THE ENTERPRISE: AN ALTERNATIVE APPROACH TO EVALUATION AND MANAGEMENT

2021 ◽  
Vol 19 (02) ◽  
pp. 303-336
Author(s):  
Larysa Dokiienko
Keyword(s):  
Sunflower Oil ◽  
Financial Stability ◽  
Methodological Approach ◽  
Oil Production ◽  
Financial Statements ◽  
Security Level ◽  
Financial Security ◽  
Financial Indicators ◽  
Scientific Publications ◽  
Alternative Approach

Purpose – The main purpose of the article is to justify an alternative approach to assessing the level of financial security of the enterprises based on use the model of modified and adjusted financial statements. Research methodology – The following methods of general theoretical and empirical research were used in the writing of the article: abstract-logical (when systematizing scientific publications on the problems of financial security management of enterprises), comparisons and grouping (when developing and validating a model of modified financial statements), coefficient (when considering and using models for adjusting modified financial statements), grouping (when clustering enterprises depending on the results of the analysis), formalization (when developing a matrix for diagnosing the level of financial security of enterprises), generalization (when formulating research findings). Findings – Based on an established sample from nine of sunflower oil production enterprises of Ukraine their modified financial statements have been developed, it was adjusted to the consumer price index, key financial indicators of the model have been identified and the level of their financial security over the past 7 years have been assessed. The research identified a direct relationship between the level of financial security of enterprises and key financial indicators: financial stability, solvency and financial risk. Also, the proposed methodological approach can be not only an important tool for diagnosing the level of financial security of enterprises, but also its forecasting. Research limitations – The research limitation is associated with sampling size and geographical scope. Also, the diagnostic results may differ depending on the chosen adjustment base, determination of adjustment method and selection of inflation measurement method for the modification financial statements. Practical implications – Practical use of the proposed model proves that it is a convenient, simple, understandable and effective tool for diagnosing the financial security level of enterprises in terms of the main components: financial stability, solvency, and risk. The use of the proposed approach to the assessment of the financial security of the enterprise can serve as an indicator of the overall efficiency of its management at sunflower oil production enterprises and as an informative tool for factor analysis. Originality/Value – Consideration of a significantly different, alternative approach that allows enterprises to quickly and easily diagnose the level of their financial security; to manage it effectively during the current period, and can also become the basis for the formation of strategic directions of financial development and forecasting of the level of financial security for prospective period.

scholarly journals Impact of the Covid-19 Pandemic on Entrepreneurial Capacity and Financial Security in Ukraine

2021 ◽  
Vol 126 ◽  
pp. 08002
Author(s):  
Yana Derbenova ◽  
Ganna Kashyna ◽  
Serhii Leontovych ◽  
Olena Ablova ◽  
Oksana Dmitrieva ◽  
...  
Keyword(s):  
Financial Stability ◽  
System Analysis ◽  
Negative Impact ◽  
Business Activity ◽  
Financial Security ◽  
Economic Activities ◽  
Investment Activity ◽  
The World ◽  
Business Entities ◽  
The Impact

The article analyzes the impact of the COVID-19 pandemic on business activities in Ukraine and the world and its financial security. The analysis showed that the economy of Ukraine and most countries of the world suffered significant losses from the introduction of anti-epidemic restrictions on business activity, which turned out to be in the fall of GDP, index of industrial production investment activity. Because of temporary or complete shutdown of business the unemployment rate increased significantly. The pandemic crisis also negatively impacted the financial results of enterprises, which decreased significantly in all kinds of economic activities, especially in industry, transport, temporary accommodation and catering, where the share of unprofitable enterprises reaches 73%. Thus, the problem of ensuring the financial security of business becomes relevant. The aim of the work is to develop methodological approaches to assessing the impact of the pandemic crisis on the financial security of business and to identify effective ways of ensuring such security. In the process of research methods of scientific abstraction, comparative and system analysis and synthesis, systematization and logical generalization were used. It was determined that the pandemic affected small and medium businesses most of all, where a strong negative impact was experienced by more than 60% of entrepreneurs. Large businesses were less affected, but they also suffered significant losses due to the decline in business activity and demand in the domestic and foreign markets. Agriculture was least affected by the pandemic, which suffered the least losses, primarily due to the insignificant impact of restrictions affecting the activities of this business. The paper systematized the risks arising from the factors of the pandemic crisis, identifying their manifestations and financial implications for business. As shown by the research, such consequences are manifested in the form of full or partial loss of profits, problems with debt repayment, reduction of financial stability, liquidity, increase in accounts receivable, increased costs for anti-epidemic measures, etc. Thus, the procedure for assessing the business’s financial security is to take into account all factors that shape the financial situation of business entities during a pandemic crisis in a comprehensive manner.

scholarly journals Financial security of a small open economy in conditions of globalization as a requirement for economic growth

2019 ◽  
pp. 9-24
Author(s):  
Piotr Komorowski
Keyword(s):  
Economic Growth ◽  
Open Economy ◽  
Financial Stability ◽  
Small Open Economy ◽  
Economic Security ◽  
The State ◽  
Financial Security ◽  
Special Significance

In the conditions of the globalization of economies the issue of financial stability, which is a condition for the economic security of the state, has acquired a special significance. The aim of the article is to determine the importance of the role of financial stability for maintaining economic security and economic growth and to validate the role of the Safety Network Institution in maintaining stability.

scholarly journals QUANTIFICATION OF THE ECONOMIC EFFECT FROM THE MANAGEMENT OF STATE FINANCE OF UKRAINE

2021 ◽  
pp. 69-86
Author(s):  
Alla KHOMUTENKO
Keyword(s):  
Financial Stability ◽  
Methodological Approach ◽  
Economic Effect ◽  
The State ◽  
Economic Effects ◽  
State Budget ◽  
Financial Flows ◽  
State Sector ◽  
Finance Management ◽  
State Finance

Introduction. The results achieved in managing state finances can be expressed through organizational, social and economic effects. They are dialectically related and, to a large extent, determine the degree of satisfaction of public interests that change over time. Financial indicators obtained in the budget sphere and in the state sector of the economy, characterize the economic effect of managing state finances. Economic effect, as a rule, confirms the feasibility of a functioning managerial apparatus and the effectiveness of its decisions in all spheres of society. The purpose of the article is to evaluate the economic effect of managing state finances of Ukraine, based on the author’s methodological approach, and substantiate the directions for its increase. Results. The indicators of the economic effect of state finance management are defined in the article. The analysis of individual indicators of fiscal, debt, investment and innovation stability in the state, as well as the financial stability of subjects of the state sector of the economy for 2008–2018. The tendencies of performance indicators of the plan of the State Budget of Ukraine, the reliability of the profitable part of Pension Fund of Ukraine, revenues from privatization, external state debt, efficiency and level of mastering of budget investments are established. The number and structure of the state sector, its financial contribution to the national economy are investigated. The necessity of carrying out a number of priority measures that will positively affect the indicators of the economic effect of managing state finances of Ukraine is substantiated. Conclusions. According to the results of the assessment of the economic effect of the efficiency of state finance management it is necessary to apply measures aimed at ensuring budgetary, debt, investment and innovation stability and financial stability of state sector entities. For example, it is necessary to improving the management of state-owned enterprises, in particular: 1) to change methodological approaches to assessing the effectiveness of state sector management; 2) to establish the relationship between the budget funding of the state sector of the economy and the results of its work; 3) to use budget lending as a tool for managing the initial financial flows of the state budget; 4) to increase the responsibility of heads of state enterprises for the results achieved by them. It is proposed to improve the management of budget investments due to: 1) the development of the institution of public-private partnership in certain areas of the economy such as infrastructure, science, etc.; 2) intensification of the use of innovation potential through the creation of innovation clusters, business incubators, etc.; 3) improving the quality of evaluation of the investment project, which will positively affect the effectiveness of its implementation; 4) reorientation of the directions of movement of funds from investments in means of production to investments in human resources, which has a long-term perspective, but with higher profitability; 5) securing for the state intellectual property rights for the development of state research institutes (patents, certificates, etc.), which will provide additional revenue from franchises and trademarks.

scholarly journals MAIN MECHANISMS OF MONETARY POLICY IMPLEMENTATION AND THEIR FEATURES

2020 ◽  
Vol 1 (9) ◽  
pp. 115-121
Author(s):  
Oksana Shevchuk ◽  
◽  
Natalia Mentuh ◽  
Keyword(s):  
Monetary Policy ◽  
Developed Countries ◽  
State Regulation ◽  
The State ◽  
Security System ◽  
Scientific Article ◽  
Financial Security ◽  
Long Run ◽  
Key Points ◽  
Methodological Principles

This scientific article is devoted to the analysis of theoretical principles, legislation, scientific positions on improving the priorities and mechanisms of monetary policy in the national financial security system. The purpose of the study is to strengthen the process of national financial security. The subject of the study is to identify key points in the national financial security system and the implementation of theoretical and methodological principles, as well as scientific and practical recommendations for the implementation of mechanisms to improve monetary policy. The conceptual provisions of monetary policy and its provisions in the national system of economic and financial security are formulated. The authors substantiate that today the financial systems of individual countries, as well as other sectors of the economy, are improving and progressing in the context of globalization, the spread of IT technologies and general computerization; Electronic cryptocurrency replaces traditional money issued by the state. It is substantiated that over the last year the cryptocurrency has won the interest not only of people, but of entire states, which have begun to actively introduce this currency into their daily circulation. This means of payment is already gaining momentum in use in developed countries. The focus is on the analysis of the concept of "blockchain". The article states that today Ukraine is among the ten countries in the world in the number of bitcoin nodes in the global bitcoin network, the leader in the number of bitcoin businessmen. The study summarizes the methods, tools and means of state regulation in the monetary sphere in order to strengthen the financial security of the state. The conceptual basis for the formation and implementation of monetary policy has been developed. The authors conclude that the strategic vector of movement for Ukraine is the need to adopt a specialized legislative act "On cryptocurrency circulation in Ukraine" in order to create conditions for the introduction of network segmentation technologies, which in the long run will reduce globalization and further develop cryptocurrency market infrastructure.

scholarly journals Debt strategies of European countries and vectors of implementation of best experience in the practice of external public debt management of Ukraine

2021 ◽  
pp. 58-68
Author(s):  
Ivanna Moroz
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Financial Stability ◽  
Negative Impact ◽  
Developed Countries ◽  
Economic Security ◽  
Debt Management ◽  
European Countries ◽  
Public Debt Management ◽  
Debt Policy

The policy of external and domestic public debt management in different countries has its own specifics, and its results are not always unambiguous. Thus, the existing recommendations of the International Monetary Fund and the Maastricht criteria prove that the maximum value of public debt to GDP should be no more than 60 %. Exceeding this limit can lead to a deterioration in financial stability, debt sustainability, and ultimately to a technical default of the state. However, the practice of public debt management in many developed countries shows quite opposite trends, as a significant excess of the Maastricht criterion not only does not lead to default, but on the contrary allows countries to accumulate the necessary financial resources to ensure stable economic growth. Therefore, the study of European debt strategies and their effectiveness is a very important issue, especially given the consequences of the COVID-19 pandemic for developing countries. Given the growing external debt dependence of Ukraine as a result of both the war with the Russian Federation and the COVID-19 pandemic, the search for a better experience of European debt policy and consideration of ways to adapt it to domestic realities are discussed in our article. Based on the analysis of the debt policy of European countries, the expediency of using debt rules, aimed at regulating both the country's debt security and the effectiveness of the use of public borrowing to stimulate economic growth has been proved. Cluster analysis of debt strategies of some European countries has shown that the high level of dependence on external public debt has a negative impact on economic security in general, because in the event of deteriorating macroeconomic situation, the likelihood of foreign investors selling government securities increases, and in the case of external loans from international financial and credit organizations – the risks of negative impact of burdensome non-financial obligations on the national economy grow.

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