IMPROVING THE FINANCIAL STATE OF ENTERPRISES ON THE BASIS OF DIVERSIFICATION OF PRODUCTION AND CAPITAL
Journal Title: Інноваційна економіка - Year 2017, Vol 72, Issue 11
Abstract
Purpose. The aim of this article is to investigation of the problem of improving the financial condition of enterprises and reducing their financial risks in the conditions of macroeconomic instability on the basis of diversification of production and capital. Methodology of research. The methodological basis of the study is the dialectical method of scientific knowledge. In the process of research, general scientific and special methods were used, namely abstract-logical, deductive and system analysis in the study of problems of the activities of domestic enterprises; assessment of the current state of diversification of their capital; substantiation of ways to improve the financial condition of enterprises and reduce their financial risks in the conditions of macroeconomic instability on the basis of diversification of production and capital. Findings. A literary review and analysis of modern approaches to the definition of the concept of "diversification of production" was conducted. The coefficient of autonomy of domestic enterprises by types of economic activity is determined and diversification of sources of their financing is analyzed. It has been established that most Ukrainian enterprises, although suffering from a lack of financial resources, however, have increased their capital investments in recent years. Originality. It is established that domestic enterprises largely finance their activities at the expense of debt capital, which jeopardizes their financial stability. The directions of improvement of the financial condition of domestic enterprises and reduction of their risks on the basis of diversification of production and capital are offered. Practical value. The obtained results of the research, expressed in the conclusions and proposals, contribute to solving the problem of improving the financial position of domestic enterprises and minimizing their risks.
Authors and Affiliations
Nataliia Sytnyk, Inna Hrytsko
Keywords
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