Pavlovskiy S. The financing of enterprises in the system of anti-crisis management

Thesis is devoted to the investigation of the theoretical and methodological approaches to financing of companies that are in crisis and substantiation of recommendations for improving anti-crisis funding of enterprises of the real economy sector. The place of anticrises funding in the system of anti-crisis management and formalized key elements, functions and instruments of anti-crisis finance management of companies were identified in this paper. Dominants and principles of anticrisis financing were also proved. It was also evaluated the risks and costs which are associated with raising capital by companies that are in crisis. The key factors which affect on the process of implication of investment and borrowed capital by companies were also defined. It was proved that complex criteria of making decisions on anti-crisis funding is the cost of the raising capital. A procedure for determining indirect costs of bankruptcy and default risk premia were proposed. The key internal reserves of anti-crisis funding measures at industrial plants were disclosed, as well as reasonable number of innovative approaches to the anti-crisis funding were justified. Recommendations on improving legal support of financing the companies that are in crisis were also represented in this work.