Optimization of structure of sources of enterprise financial resources in Ukraine

Abstract

The article reviews the peculiarities of the financial resources of the home industries. The defining characteristic here is not quantitative but qualitative indicators that reflect the availability of financial resources of the business entities. To solve this problem, the relations between the main characteristics of the financial resources of the entity and its financial condition indicators as criteria for financial security were investigated. It was found that the value of financial resources and their structure do not have explicit dependence. Under the present circumstances, regardless of the existing capital structure, a business entity is unable to attract additional financial resources, despite their cost, and vice versa – opportunity to borrow on the capital market new resources at market value does not depend on the value of the shoulder leverage of the business unit. The limiting factors here are the imperfection of the home competitive environment and the psychological motives of the market participants. There is also a conflict situation when due to the reduction of the profitability, the business entities tend to borrow at higher interest rates. The reason for this is primarily in the needs of the production sector, namely the need for ongoing business proper funding, especially in the crisis situations that affects the financial and industrial status. Ensuring an adequate logistics of the business entity (the degree of amortization of the equipment) requires an appropriate level of funding, but does not affect its structure. Research of the resources of the business entities in Ukraine’s economy showed that their ability to attract cheap long-term financial resources for today is quite limited.