METHOD OF DETERMINING THE EFFICIENCY OF THE FINANCIAL POLICY OF THE AVIATION INDUSTRY ENTERPRISES
Abstract
The article presents the results of analysis and evaluation of the effectiveness of financial policy of enterprises based on the developed methodological approach. It is proposed to determine the effectiveness of the company’s financial policy by inequality, according to which financial stability should exceed the reproducibility of financial resources, which in turn should exceed the flexibility of own investments in enterprise development, which should exceed the adequacy of financial resources for unplanned expenses. In accordance with the proposed methodological approach to assessing the effectiveness of the financial policy, its analysis was carried out by a group of surveyed enterprises of the aviation industry of Ukraine with the derivation of generalized results for the section of enterprises of the studied industry. A comprehensive assessment of the financial policy efficiency indicators of Antonov, Kyivaeroproekt LLC, Konotop Aircraft Repair Plant Aviacon, Lviv State Aircraft Repair Plant, Kharkiv Machine-Building Plant (FED) and Motor Sich PJSC was conducted. Integral indicators corresponding to the defined criteria are used, which are aimed at deviation determining of the total value of the effectiveness of regulatory and optimizing financial instruments, which will determine the level of improvement of the enterprise. A methodical approach to determining the effectiveness of financial policy based on the use of a hierarchical model of building an integrated indicator, which contains the basic indicators: indicators of the dynamics of the objects of financial policy. It is determined that in order to increase the efficiency of the financial policy of aviation enterprises, regulatory and optimization tools should be directed to the objects of financial policy, which will increase its level according to the criteria of “turnover” and “sustainability”. It is found that the proposed scientific and methodological approach to assessing the economic results of the financial policy of the aviation industry, will determine its status and adjust the decision-making system, modernizing the system-forming elements of management and economic influence on innovation in the post-crisis period.
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