İrina ZHURAVLYOVA, Maryna BEREST, Alyona HONCHARENKO

Capital structure of enterprises as a factor of ensuring financial stability

The aim of the study is to develop a methodological approach to assess the impact on the financial stability of enterprises of the processes of formation and use of intellectual capital in the structure of total capital. Systematic, monographic, analysis and synthesis, induction and deduction, the method of financial ratios, cluster analysis, regression analysis, factor analysis. The work is characterized by the content and highlights the key factors of the concept of "financial stability of the enterprise." Using cluster analysis, groups of machine-building enterprises of the Kharkiv region were formed depending on the structure and efficiency of capital use. A methodological approach has been created for empirical studies of the influence of intellectual capital on the results of activities of machine-building enterprises of the Kharkiv region for the selected clusters. It has been established that there is a positive relationship between the processes of functioning of intellectual capital and the financial results of enterprises; the impact of the efficiency of using intellectual capital on asset turnover is not unidirectional, but the contribution of the efficiency of using the components of intellectual capital in obtaining these results differs for enterprise clusters; individual components of intellectual capital without the presence of the rest are not significant. The factors of the influence of intellectual capital on the identified clusters of engineering enterprises are identified, which will reveal the reserves of effective reproduction of intellectual capital on the selected groups of enterprises. Тhe practical significance of the results is that their use will allow enterprises reasonably structure in both total and intellectual capital, increase the effective use of material, financial and intellectual components. Methodical recommendations contained in the study, providing a comprehensive approach to management of capital structure formation and identification of potential areas for optimization.

Anahtar Kelimeler:

Financial Stability, Capital Structure, Intellectual Capital, Financial Stability of the Enterprise

Capital structure of enterprises as a factor of ensuring financial stability

Keywords:

financial stability , intellectual capital, capital structure, financial stability of the enterprise,

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