Efficiency of Working Capital Management in the System of Financial Safety of Trade Enterprises
The article investigates theoretical and methodological and practical aspects of managing the financial security of enterprises of wholesale and retail trade in Ukraine, summarizes the scientific approaches to assessing enterprise financial security. There justified the influence of the level of...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
PH "INZHEK"
2016-08-01
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| Series: | Problemi Ekonomiki |
| Subjects: | |
| Online Access: | http://www.problecon.com/export_pdf/problems-of-economy-2016-3_0-pages-175_183.pdf |
| _version_ | 1797330116659904512 |
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| author | Krutova Anzhelika S. Sifurova Alona I. |
| author_facet | Krutova Anzhelika S. Sifurova Alona I. |
| author_sort | Krutova Anzhelika S. |
| collection | DOAJ |
| description | The article investigates theoretical and methodological and practical aspects
of managing the financial security of enterprises of wholesale and
retail trade in Ukraine, summarizes the scientific approaches to assessing
enterprise financial security. There justified the influence of the level of
efficiency of working capital management on improving the indicators of
profitability of financial and economic activity, business activity; increasing
financial sustainability and stability of development; ensuring an acceptable
level of financial safety of trade enterprises. The main results of financial and
economic activities of Ukrainian trade enterprises for the period 2010-2015
that influenced the level of their financial security are analyzed, the negative
trends in the dynamics of receiving net profit, low profitability of sales and
unprofitableness of using the current assets are highlighted. There revealed
a significant disproportion in the structure of capital formation sources,
high deficit of own financial resources, trend of financing the current assets
entirely from borrowed funds, rapid growth of the level of credit interest
rates. There performed an estimation of indicators of financial sustainability
by means of the coefficient and aggregate approaches, which indicated
the unstable and crisis financial condition of the majority of enterprises of
wholesale and retail trade in Ukraine. There determined reserves of increasing
financial security with the identification of the key components in the
subsystems of financial security, criteria and indicators for an objective assessment
of the financial status, taking into account the influence of the external
environment, which will allow making sound management decisions
regarding the analysis, prevention and neutralization of real and potential
threats to trade enterprises. |
| first_indexed | 2024-03-08T07:14:27Z |
| format | Article |
| id | doaj.art-68afdda4019b4b4a8659c23da551ee52 |
| institution | Directory Open Access Journal |
| issn | 2222-0712 2311-1186 |
| language | English |
| last_indexed | 2024-03-08T07:14:27Z |
| publishDate | 2016-08-01 |
| publisher | PH "INZHEK" |
| record_format | Article |
| series | Problemi Ekonomiki |
| spelling | doaj.art-68afdda4019b4b4a8659c23da551ee522024-02-03T01:24:21ZengPH "INZHEK"Problemi Ekonomiki2222-07122311-11862016-08-013175183Efficiency of Working Capital Management in the System of Financial Safety of Trade EnterprisesKrutova Anzhelika S. 0Sifurova Alona I. 1Doctor of Science (Economics), Professor, Head of the Department of Finance, Analysis and Insurance, Kharkiv State University of Food Technology and TradePostgraduate Student of the Department of Finance, Analysis and Insurance, Kharkiv State University of Food Technology and TradeThe article investigates theoretical and methodological and practical aspects of managing the financial security of enterprises of wholesale and retail trade in Ukraine, summarizes the scientific approaches to assessing enterprise financial security. There justified the influence of the level of efficiency of working capital management on improving the indicators of profitability of financial and economic activity, business activity; increasing financial sustainability and stability of development; ensuring an acceptable level of financial safety of trade enterprises. The main results of financial and economic activities of Ukrainian trade enterprises for the period 2010-2015 that influenced the level of their financial security are analyzed, the negative trends in the dynamics of receiving net profit, low profitability of sales and unprofitableness of using the current assets are highlighted. There revealed a significant disproportion in the structure of capital formation sources, high deficit of own financial resources, trend of financing the current assets entirely from borrowed funds, rapid growth of the level of credit interest rates. There performed an estimation of indicators of financial sustainability by means of the coefficient and aggregate approaches, which indicated the unstable and crisis financial condition of the majority of enterprises of wholesale and retail trade in Ukraine. There determined reserves of increasing financial security with the identification of the key components in the subsystems of financial security, criteria and indicators for an objective assessment of the financial status, taking into account the influence of the external environment, which will allow making sound management decisions regarding the analysis, prevention and neutralization of real and potential threats to trade enterprises.http://www.problecon.com/export_pdf/problems-of-economy-2016-3_0-pages-175_183.pdffinancial securityworking capitalefficiency |
| spellingShingle | Krutova Anzhelika S. Sifurova Alona I. Efficiency of Working Capital Management in the System of Financial Safety of Trade Enterprises Problemi Ekonomiki financial security working capital efficiency |
| title | Efficiency of Working Capital Management in the System of Financial Safety of Trade Enterprises |
| title_full | Efficiency of Working Capital Management in the System of Financial Safety of Trade Enterprises |
| title_fullStr | Efficiency of Working Capital Management in the System of Financial Safety of Trade Enterprises |
| title_full_unstemmed | Efficiency of Working Capital Management in the System of Financial Safety of Trade Enterprises |
| title_short | Efficiency of Working Capital Management in the System of Financial Safety of Trade Enterprises |
| title_sort | efficiency of working capital management in the system of financial safety of trade enterprises |
| topic | financial security working capital efficiency |
| url | http://www.problecon.com/export_pdf/problems-of-economy-2016-3_0-pages-175_183.pdf |
| work_keys_str_mv | AT krutovaanzhelikas efficiencyofworkingcapitalmanagementinthesystemoffinancialsafetyoftradeenterprises AT sifurovaalonai efficiencyofworkingcapitalmanagementinthesystemoffinancialsafetyoftradeenterprises |