State regulation of financial inability of business enterprises: theoretical aspects
Journal Title: Публічне управління та митне адміністрування - Year 2018, Vol 1, Issue
Abstract
Formation of the ideology of building a system of state regulation of the sphere of insolvency of business entities took in the world practice a relatively long historical period. The modern system of state regulation of insolvency has been formed roughly in the 70–80-s of the 20-th century, following the implementation of reforms in the field of regulating the bankruptcy process in economically advanced countries. In Ukraine there is a steady tendency to increase the level of insolvency of business entities. Particularly acutely, the problem of financial insolvency a rose from the sharp collapse of the national currency in 2015, when the massive failure of import-dependent enterprises began. Therefore, it is now relevant to study the essence of financial insolvency of enterprises and state regulation of this phenomen on against the background of rational world experience, which was determined in the course of long historical practice. The purpose of the article is to study the essence and content of the concept of “financial insolvency of subjects of entrepreneurship” and the process of state regulation of this phenomenon. The article discriminates the essence of financial insolvency of business entities, defines and organizes the content of the main terms and concepts in this area regarding possible financial situations and discloses the main content of management decisions for each situation. It is determined that management decisions regarding financial capacity depending on the situation are as follows: – in a regular situation – situational, provide regulation of individual indicators, operations and processes aimed at solving current issues and development; – in the extreme – the system, taken taking into account the influence of a number of factors and the consequences of making this decision in order to return to the normal situation; – infreelance – rational-intuitive, formed with in the limits of stochastic control in conditions of uncertainty (working out and selection of the optimal variant of the solution of the situation); – emergency – anti-crisis, produced on the basis of assessment of direct and potential risks; – in the emergency – creative, on the basis of the theory of conflict management aimed at finding options for preserving the subject of entrepreneurship and increasing its viability. The main methodological principles (purpose, tasks, principles) of state regulation in the field of financial insolvency are also defined.
Authors and Affiliations
М. Д. Денисов
Keywords
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