Nakonechna A. Financial architecture adaptation of business entities in the terms of cyclical economic development

The thesis extends theoretical and methodical fundamentals of economic entities financial architecture adaptation in the terms of cyclical economic development. The scientific approaches to the consideration of the financial architecture concept are systematized, the composition of its characteristics is substantiated from the point of the internal factors influence on the capital cost. The external factors of the economic environment associated with the implementation of the financial (credit) cycle at the macro level influence on the economic entities financial architecture formation are established. The methodological approaches to economic entities financial architecture adaptation ensuring in the terms of cyclical economic development are systematized. The modern state of the economic entities financial architecture is estimated on the clustering method basis. As a result, the main types of financial architecture are identified. The dynamics of the financial architecture forming processes in Ukraine is analyzed and its general trends are determined. The dominants of the quantitative measurement of economic entities financial architecture adaptation in terms of the cyclical economic development are characterized from the point of speed, cost and efficiency of adaptation. A model for optimizing the economic entities financial architecture elements in the cyclical terms is proposed. It includes optimization of the management cycle relative to the macroeconomic cycle stages and is aimed at reducing the negative cycle’s impact and the use of it favorable opportunities. The relationship between the financial architecture disproportions in Ukraine and the low financial markets development and capital access is established. The ways of such negative externalities reducing for the national business from the State are suggested, including the strengthening of the financial market institutional support from the position of ensuring a balance between access to financing and investors' rights protection. The directions of organizational and information support of business entities financial architecture adaptation are substantiated from the point of expanding access to capital, capital cost reducing and business market value increasing.