MONITORING MECHANISM OF RESILIENCE OF THE ANTI-CRISIS POTENTIAL SYSTEM OF THE CONSTRUCTION ENTERPRISE IN THE LONG-TERM PERIOD

Authors

  • Sergey Stetsenko Kyiv National University of Construction and Architecture
  • Nadiia Bolila Kyiv National University of Construction and Architecture
  • Lesya Sorokina Kyiv National University of Construction and Architecture
  • Tetiana Tsyfra Kyiv National University of Construction and Architecture https://orcid.org/0000-0001-7891-0467
  • Olena Molodid State "Research institute of building production named of V.S. Balitsky" https://orcid.org/0000-0001-8211-3460

DOI:

https://doi.org/10.36690/2674-5208-2020-3-29

Keywords:

anti-crisis potential, payback period of equity capital, level of consumption of owners' capital, capital multiplier for current liabilities, return on current assets, multifactor model, functional module of digitized economic management of the enterprise

Abstract

The anti-crisis potential of enterprises belonging to industries with a long production cycle is unstable, as the time interval between incoming cash flows is much longer than between outgoing ones. This problem is especially actual for construction companies, whose income largely depends on the state of investment demand. Therefore, there is a need to develop an effective mechanism to control the resilience of the anti-crisis system of the construction company to environmental conditions. According to many scientists, anti-crisis potential is associated with the financial sanation. Given the undeniable usefulness of the analyzed developments, there has been noted that they are unsuitable for managing the financial sanation capacity and anti-crisis potential of construction companies. After all, most of them are suggested for agricultural or industrial ones. Given the definition of "financial sanation", the implementation of measures aimed at restoring business is impossible without investment. Investing funds in any business project, including those aimed at strengthening the financial condition of the enterprise, will be efficient only when they provide an economic effect. Thus, the requirement of return on investment is indisputable, but for high-risk activities, including construction, there is an additional condition, to get a return on investment as soon as possible: from 3 to 10 years. After all, this is the duration period of different types of macroeconomic cycles, during which the vast majority of construction companies go through all stages of economic development: from growth to decline.

The dependence of the payback period of equity capital on other factors of the internal and external environment of business systems has been studied in order to manage the rehabilitation and anti-crisis potential of a construction company. General scientific methods such as analysis, synthesis, deduction, induction, analogy as means of studying and generalizing theoretical approaches to providing anti-crisis potential; Васkwаrd Stерwisе method (construction of multifactor linear regressions Stаtistіса 8.0), providing the sequential construction of equations in which the set of input factors decreases by removing the least significant to explain the variation of the independent variate. In order to increase the efficiency of decision-making on the feasibility of additional equity attraction by construction companies there has been developed a methodological approach to forecasting the level of financial sanation capacity of the construction company. It is a complex; a multifactor model - a linguistic scale, allows to identify changes in the payback period of equity in the medium term using quantitative and linguistic estimates and can be used as a functional module of digitized economic management of the enterprise.

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Author Biographies

Sergey Stetsenko, Kyiv National University of Construction and Architecture

Doctor of Science (Economics), Associate Professor of the Department of Construction Economics, Kyiv National University of Construction and Architecture, Kyiv, Ukraine, e-mail: stetsenko.sp@knuba.edu.ua, ORCID: https://orcid.org/0000-0003-1439-3581

Nadiia Bolila, Kyiv National University of Construction and Architecture

Senior Lecturer of the Department of Construction Economics, Kyiv National University of Construction and Architecture, Kyiv, Ukraine, e-mail: bolila.nv@knuba.edu.ua, ORCID: https://orcid.org/0000-0002-3353-8347

Lesya Sorokina, Kyiv National University of Construction and Architecture

Doctor of Science (Economics), Professor of the Department of Construction Economics, Kyiv National University of Construction and Architecture, Kyiv, Ukraine, e-mail: sorokina.lv@knuba.edu.ua, ORCID: https://orcid.org/0000-0002-9981-4615

Tetiana Tsyfra, Kyiv National University of Construction and Architecture

Ph.D. (Economics), assistant professor of the Department of Construction Economics, Kyiv National University of Construction and Architecture, Kyiv, Ukraine, e-mail: tsyfra.tiu@knuba.edu.ua, ORCID: https://orcid.org/0000-0001-7891-0467

Olena Molodid, State "Research institute of building production named of V.S. Balitsky"

Ph.D. (Economics), senior researcher, State "Research institute of building production named of V.S. Balitsky", e-mail: elena_demusenko@ukr.net, ORCID: https://orcid.org/0000-0001-8211-3460

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Published

2020-10-01

How to Cite

Stetsenko, S., Bolila, N., Sorokina, L., Tsyfra, T., & Molodid, O. (2020). MONITORING MECHANISM OF RESILIENCE OF THE ANTI-CRISIS POTENTIAL SYSTEM OF THE CONSTRUCTION ENTERPRISE IN THE LONG-TERM PERIOD. Economics, Finance and Management Review, (3), 29–40. https://doi.org/10.36690/2674-5208-2020-3-29

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Section

Chapter 1. Current trends in economic development