The analysis of the financial technologies introduction has proved that their application over-complicates the institutional structure of the global financial system. As a result, usual functional relationships cease to operate, new institutes and interdependencies appear, and systemic risks increase. In this context, the system instability increases, resulting in a transition to a new institutional status. The analysis of the financial technologies impact on the stability of financial system shows that the lack of institutional support for new financial technologies is the most important catalyst for the financial industry destabilization and the formation of financial bubbles in various market segments.The ways to reduce the negative impact of financial technologies on the financial system stability (such as development of international prudential standards; revision of the licensing regime for financial companies; “regulatory sandboxes”, which test new technologies, business models and algorithms underlying the Fintech innovations; legal regulation of ownership of digital tokens; and clear definition of the blockchain technology in various areas of life, etc.) have been proposed.
There is a problem for providing financial security, investment attractiveness and competitiveness of energy sector enterprises in complex and dynamic conditions of Ukrainian electricity market, gain of crisis situations, magnification of competition and complexity of internal business processes. Modern tendencies of gain the crisis situations in electric energy market are determined the importance and necessity for using the instruments of financial anti-crisis management in enterprises. One of them is estimation financial condition of enterprises. Its application will allow to develop the system of anti-crisis measures for enterprises financial management and to provide their financial security, investment attractiveness and competitiveness in modern economic conditions. The purpose of this publication is to develop the methodical approach to estimate the financial situation level and the depth crisis of energy sector enterprises in Ukraine. To achieve the purpose the following tasks were posed and solved: find the indicators of enterprise financial situation; determine normative values for financial situation indicators of energy sector enterprises in Ukraine; estimate financial situation complex integral indicator of energy sector enterprises in Ukraine; find out level and crisis type of energy sector enterprises in Ukraine. In this publication the methodical approach to determine the financial situation level and the crisis depth of energy sector enterprises in Ukraine has been proposed. Its distinctive feature from existing ones is: setting normative values for 22 financial situation indicators and crisis levels for energy sector enterprises in Ukraine. It is established that activity problems of energy sector enterprises in Ukraine are: fixed assets depreciation, low liquidity, shortage of net working capital, unprofitability. It was revealed that during 2012-2017 only 12.20% of energy sector enterprises in Ukraine were in favourable financial situation; 19.51% were in destabilization; 19.51% were in pre-crisis; 14.63% were in crisis and 34.15%were in catastrophic. The enterprises become very sensitive to negative factors effects of internal and external environment in crisis situations. It influences the choice of ineffective anti-crisis measures and deepening crisis situation. Therefore, there is advisability to estimate financial condition and to search improvement areas of financial component of enterprises anti-crisis management. This will increase effectiveness of anti-crisis measures management of energy sector enterprises in Ukraine.
The article is dedicated to the solution of the relevant issue, concerning management of enterprise`s financial sustainability. Financial sustainability assessment is one of the most important principles of enterprise`s activity, which provides information about financial capabilities of the company at the time of its evaluation and for the future. It is a requirement for the enterprise activity, which provides a high level of competitiveness, efficiency and intensity. Thus, the restoration and strengthening of financial sustainability is a priority task for the enterprise, a basic precondition for its effective functioning. The purpose of the research is to analyze financial sustainability and to improve the methods and approaches of its evaluation. The following methods were used in this research: financial and economic analysis, economic and mathematical modeling, analysis and synthesis, comparison. The main results of the study are following: the theoretical and essential characteristics of enterprise financial sustainability has been determined; the financial status of PJSC “Turboatom” has been analyzed; the taxonomic index of financial sustainability has been calculated and the forecast of its significance has been made, the approaches to increase enterprise financial sustainability have been proposed.
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