Risk Management in the System of Financial Stability of the Service Enterprise

Drobyazko, Svetlana; Barwińska-Małajowicz, Anna; Ślusarczyk, Bogusław; Chubukova, Olga; Bielialov, Taliat

doi:10.3390/jrfm13120300

Cited by 28 publications

(18 citation statements)

References 19 publications

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“…This enables the integrated indicator to be determined. Such diagnostics allows us to promptly and fully determine the quality of financial security, its sufficiency, structure, efficiency, which is the basis for strategic and tactical management of textile enterprises (Kwilinski 2019;Drobyazko et al 2020).…”

Section: Discussionmentioning

confidence: 99%

Impact of Financial Support on Textile Enterprises’ Development

Boichenko

Mata

et al. 2021

JRFM

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The purpose of this study is to determine the mutual influence of financial security on the textile enterprises development level. The proposed methodological approach is based on the formation of an integrated financial security indicator and its regression model. The study is based on 16 textile enterprises in the European Union. Integral indicators on capital structure, current financing sufficiency and financial efficiency of the investigated enterprises have been defined according to the rapid diagnostics of financial provision of the textile enterprises. The state of financial support for the studied companies’ development has been evaluated. It has been established that the development of textile enterprises depends to a large extent on their financial support as a whole. The change in the development level of companies depends substantially on the change in the integrated indicator of their financial provision. In particular, textile enterprises’ development is significantly affected by the capital structure and the predominance of equity in it, as well as current financing. The financial efficiency factors taken into account do not have a significant impact on the development of textile enterprises. This study proposes a financial security model, developed by partial integrated indicators. It enables visual comparison, collation of the capital structure state, current financing and financial efficiency of the studied enterprises with optimal value.

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Section: Discussionmentioning

confidence: 99%

Impact of Financial Support on Textile Enterprises’ Development

Boichenko

Mata

et al. 2021

JRFM

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“…Relationships between the models included in the system reflect the real interaction of industries, economic systems with different degrees of adequacy [11,12]. Special rules and procedures are developed to coordinate decisions and forecasts obtained when working with separate models or at different levels.…”

Section: Literature Reviewmentioning

confidence: 99%

Modeling of Prospects for the Development of Regional Renewable Energy

Drobyazko¹,

Wijaya

Blecharz

et al. 2021

Energies

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It has been proven that to solve the problems that arise in the combinatorial modeling of the prospects for the development of regional renewable energy, an algorithmically simple general combinatorial approach is the most appropriate option. The conceptual express method and corresponding mechanisms of the economic estimation of the efficiency of variants of the formation of regional systems of renewable energy have been suggested. These variants take into account the inflationary factors which serve as a basis of the analysis of investment and innovative projects of renewable energy sources by means of combinatorial modeling methods. To qualitatively analyze the effectiveness of the compared options, the system of existing indicators of the economic efficiency of renewable energy sources at the meso-level has been studied. The system was supplemented by informal and environmental indicators, the need for which is due to the fact that they have a significant impact on renewable energy in the region. Factors that significantly determine the effectiveness of the investment and innovation project for the introduction of renewable energy sources into the regional economy have been substantiated.

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“…Scientific works are devoted to the justification of modern methodological approaches to the assessment of the level and position of the financial security of an enterprise are: Azarenkova et al (2018), Britchenko et al (2018), Khudoliei (2018), Hryhoruk et al (2019), Kosaynova et al (2019), Drobyazko et al (2020), Franchuk et al (2020), Kharchuk et al (2020), Kondratenko et al (2020), Sylkin et al (2020).…”

Section: Introductionmentioning

confidence: 99%

Financial Security of the Enterprise: An Alternative Approach to Evaluation and Management

Dokiienko¹

2021

Business, Management and Economics Engineering

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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.

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Risk Management in the System of Financial Stability of the Service Enterprise

Cited by 28 publications

References 19 publications

Impact of Financial Support on Textile Enterprises’ Development

Impact of Financial Support on Textile Enterprises’ Development

Modeling of Prospects for the Development of Regional Renewable Energy

Financial Security of the Enterprise: An Alternative Approach to Evaluation and Management

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