Financial Flexibility as a Phenomenon of Manifestation of Flexibility of the Financial System at the Micro-level
Journal Title: Бізнес Інформ - Year 2014, Vol 3, Issue 0
Abstract
The article considers financial flexibility of economic subjects in the context of specific features of manifestation of this property at the micro-level of the financial system. It generalises various theoretical approaches to understanding the essence of the financial flexibility in the context of motives of its formation, sources and instruments of realisation. It specifies criteria of financial flexibility: manoeuvrability, efficiency and economy. It studies interrelation between the financial flexibility and financial restrictions at the micro-level and, consequently, factors that determine them: capital market imperfection, development level and structure of the financial system, cyclicity of economy, and company characteristics (including financial architecture). The article describes their distinguishing features. It states that apart from maintaining the financial flexibility during formation of money reserves and debt load resource the companies can be guided by other motives. It offers classification of types of financial flexibility based on the sources and goals of formation, influence upon the financial potential, stages of reproduction of financial resources, the instruments used, engaged elements of the financial mechanism, stages of the business cycle and types of the used financial resources.
Authors and Affiliations
Oleksandra Laktionova
Keywords
Related Articles
- EP ID EP104904
- DOI -
- Views 103
- Downloads 0
Competitive-Motivational Nature of Increasing Competitiveness of the Creative Potential of Qualified Employees
The article is aimed at studying the need to develop competitive-motivational nature of increasing of the creative potential of qualified employees. In analyzing and synthesizing experience of investment establishment an...
The Global Experience of Development of the Theory of Spatial Distribution of Productive Forces
The publication is aimed at theoretical generalization of the global experience of development of the theory of spatial distribution of productive forces as the basis of regional economy. Considering the evolution of sci...
Evaluating the Level of Socially Responsible Activities of Transport Enterprises
Evaluation of socially responsible activities (SRA) of transport enterprises is a topical and important task. Socially responsible activity of enterprise is the process of implementation of a complex of actions, aimed at...
Theoretical and Practical Approaches to the Determination of Investment Potential of Railways of Ukraine
The article is devoted to illumination of approaches theoretical and practical to determination of investment potential railways of Ukraine. Possibilities of application the coefficient of investment potential of railway...
The Foundations of the Conception of Knowledge-Based Economy in the Works of Nobel Laureates in Economics
Despite a great attention to establishment of the knowledge-based economy, theoretical basis for this conception remains fragmented and requires strengthening. Therefore, the article is aimed at generalizing the foundati...