MONITORING MECHANISM OF RESILIENCE OF THE ANTI-CRISIS POTENTIAL SYSTEM OF THE CONSTRUCTION ENTERPRISE IN THE LONG-TERM PERIOD
DOI:
https://doi.org/10.36690/2674-5208-2020-3-29Keywords:
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 enterpriseAbstract
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.
Downloads
References
Andrushchenko O. Yu. (2011) Teoretiko-methodikal approaches to definition of financial sanation and sanatsionny of the enterprise // Efektyvna ekonomika.- № 5. - Rezhym dostupu: http://nbuv.gov.ua/UJRN/efek_2011_5_51.
Tereshchenko O.O. (2004) Finansova sanatsiia ta bankrutstvo pidpryiemstv / O.O. Tereshchenko. – K. : KNEU,– 412 s.
Finansy pidpryiemstv : [pidruchnyk] (2001) / Kerivnyk avt. kol. i nauk. red. prof. A.M. Poddierohin ; 3-tie vyd., pererob. ta dop. –K. : KNEU, – 460 s.
Trusova N. Karman S. (2017) Symptoms of financial security in management of rehabilitation capacity of agricultural enterprises // Collection of scientific works of Tavria State Agrotechnological University (economic sciences) № 3(35). s.236- 248.
Fynansovie rezervy orhanyzatsyy: analyz y kontrol [Tekst] (2007): [monohrafyia] / D. A. Endovytskyi, A. N. Ysaenko. - M. : Knorus, - 301 s
Bulovych T.V. (2009) Upravlinnia sanatsiinoiu spromozhnistiu pidpryiemstva yak peredumova yoho vyzhyvannia / T.V. Bulovych // Visnyk Khmelnytskoho natsionalnoho universytetu.- № 4, T. 2. – S. 161-167.
Oliinyk T. O. (2018) Analiz sanatsiinoi spromozhnosti promyslovoho pidpryiemstva / T. O. Oliinyk, A. M. Shyblova // Ekonomichnyi visnyk Zaporizkoi derzhavnoi inzhenernoi akademii. - Vyp. 5. - S. 152-156. - Rezhym dostupu: http://nbuv.gov.ua/UJRN/evzdia_2018_5_33.
Stetsenko, S. P. (2019) Finansovyi analiz ta ekonomichna diahnostyka : navch. posib. / S. P. Stetsenko, L. V. Sorokina, K. V. Izmailova ; M-vo osvity i nauky Ukrainy, Kyiv. nats. un-t bud-va i arkhitektury. - Kyiv : KNUBA,. - 158 s.
Honcharenko, T., Chupryna, Y., Ivakhnenko I., Tsyfra, T., Zinchenco, M. (2020) Reengineering of the Construction Companies Based on BIM-technology // International Journal of Emerging Trends in Engineering Research, 2020, volume 8.№8, august http://www.warse.org/IJETER/static/pdf/file/ijeter22882020.pdf
Stetsenko, S.P., Tytok, V.V., Emelianova, O.M., Bielienkova, O.Yu and Tsyfra T.Yu. (2020) Management of Adaptation of Organizational and Economic Mechanisms of Construction to Increasing Impact of Digital Technologies on the National Economy. Journal of Reviews on Global Economic. 9. рр.149-164.
Rudenko Ye. M. (2012) Otsinka sanatsiinoi spromozhnosti silskohospodarskykh pidpry- yemstv / Rudenko Ye. M. // Ahrosvit.- № 7. - S. 63-68.
Izmailova K.V. (2012). Influence of financial leverage in the implementation of project financing schemes in Ukraine. Shliakhy pidvyshchennia efektyvnosti budivnytstva. Issue 28, pp. 82-87.
Izmailova K.V., Parkhomenko V.V. (1997). Simulation modeling of financial indicators of investment activity of the enterprise. Shliakhy pidvyshchennia efektyvnosti budivnytstva v umovakh formuvannia rynkovykh vidnosyn. Issue 2, pp.73-75.
Bielienkova O.Iu., Antropov Yu.V. (2013). Economic stability of small construction enterprises of Ukraine: assessment, trends, prospects. Problemy ekonomiky. no. 3, pp. 51-62.
Bielienkova O.Iu. (2011). Assessment of financial stability of small construction enterprises of Ukraine in 2000–2008. Ekonomika i derzhava. no. 1, pp. 56-60.
Bielienkova O. (2010). Analysis of unprofitable construction companies by the method of the company "DuPont". Halytskyi ekonomichnyi visnyk. no. 4(29), pp. 184-188.
Stetsenko S.P. (2014). Indicators-indicators of economic security of construction companies. Shliakhy pidvyshchennia efektyvnosti budivnytstva v umovakh formuvannia rynkovykh vidnosyn. Issue 36. 2st part. pp.141-145.
Stetsenko S.P. (2012). Estimation of investment attractiveness of financial instruments in modern unstable economic conditions. Shliakhy pidvyshchennia efektyvnosti budivnytstva v umovakh formuvannia rynkovykh vidnosyn. Issue 27. pp.219-232.
Vakhovych I.V., Molodid O.O. (2013). Ensuring the economic sustainability of small construction companies is the basis of their economic security. Shliakhy pidvyshchennia efektyvnosti budivnytstva v umovakh formuvannia rynkovykh vidnosyn. Issue 30. pp.249-255.
Molodid O.O. (2012). Use of econometric models to determine the level of economic security of a construction company. Budivel'ne vyrobnytstvo. no. 53. pp. 73-76.
Krykun K.V., Oliferuk S.L., Riazanov A.S. (2014). Assessment of the level of efficiency in the use of production resources as a means of preventing bankruptcy in construction. Mistobuduvannia ta terytorialne planuvannia. Issue 50. pp. 168-170.
Sorokina L.V., Hojko A.F., Skakun V.A. (2017). Debt security management of a construction company on the basis of data mining. Budivelne vyrobnytstvo. Issue 63, pp.24-31.
Bielienkova O.Iu., Antropov Yu.V. (2013). Assessment of the accuracy of forecasting models for the economic sustainability of construction enterprises. Privolzhskij nauchnyj vestnik. no.9 (25). pp.31-36.
Bielienkova O.Y., Antropov Y.V. (2013). The prediction model of economic stability (based on small con-struction enterprises of Ukraine). European Applied Sciences. pp. 161-163.
Lipych L. H., Hadzevych I.O. (2011) Sutnist ta metody antykryzovoho upravlinnia pidpryiemstva. Visnyk Lvivskoi komertsiinoi akademii (Seriia: ekonomika). Lviv: Vydavnytstvo Lvivskoi komertsiinoi akademii, Vyp. 36, 486 p.
Lisnichuk, O.A. (2015) Rozrobka modelei diahnostyky bankrutstva ukrainskykh pidpryiemstv za dopomohoiu dyskryminantnoho analizu. Naukovyi visnyk Mizhnarodnoho humanitarnoho universytetu (ekonomika i menedzhment). Odesa, Vypusk 10, p. 251–254.
Khryniuk O.S., Moskalenko L.A. (2011) Metody antykryzovoho upravlinnia pidpryiemstvom [Tekst]. Aktualni problemy ekonomiky ta upravlinnia: zbirnyk naukovykh prats molodykh vchenykh., № 5, p. 114-117.
Kharrynhton, H. (1989) Upravlenye kachestvom v amerykanskykh korporatsiiakh. M., 311 p.
Cherep, A.V. (2006) Finansova sanatsiia ta bankrutstvo subiektiv hospodariuvannia: pidruchnyk. K.: Kondor, 380 p.
Mihus, I., Andrienko, V., Molodets’kyy, S., & Blikhar, M. (2018). The process of forecasting bankruptcy and raiding as a tool of public monitoring financial security state of Ukraine. Financial and credit activity: problems of theory and practice. 1. 267-274.
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.