On the basis of the analysis of the nature and tendencies of the development of market potential research, the proposed author's is defined in which under the market potential of the enterprise are understood the opportunities and risks of the enterprise development under the influence of managed and unmanaged factors of the market.
The author's conception of the evaluation mechanism by capitalization of the market potential of the enterprise is proposed, which includes: analysis of the industry market and determination of the structure of the market potential; determination of general and specific characteristics of market potential components; choice of valuation approach: determination of value and integral indicators (in particular market position), and determination of capitalization efficiency of market potential (capitalization ratio).
In order to substantiate the relationship between «market potential» and «human capital» within the logical chain «human capital - capitalization - enterprise value - market potential», a quantitative characteristic, which determines the homogeneity of this chain, is considered to be the parameter «cost of capital», the analytical base of which built on enterprise capitalization methods.
To take into account human capital, as one of the assets of the enterprise, human capital is included in the estimation base of the market potential. In order to improve the human capital appraisal toolkit, as an element of the enterprise market potential, the stages of development of the essence of the concept of human capital are investigated. Based on the conducted research, an approach has been developed in which human capital is considered as a share of the value of the enterprise and the differences of particular forms of capital, namely the economic form (a share that can be directly determined by the cost indicators) are taken into account; cultural - (share that is converted into economic capital in part - ability, human competence, etc.); social - (in the form of various social attributes - connections); symbolic - (the kind of capital that is recognized in society - prestige, reputation, honor, etc.).
It is substantiated that individual human capital should be considered as the property of the employee, with the market price of his labor and income from the funds invested in its development by the enterprise and is the price paid by the enterprise for the possibility of using (borrowing) individual human capital and according to percent theory is defined as the proportion (percentage) of the principal.
The dynamics of the basic human capital indicators at the sectoral level are determined, and the tendencies of transformation processes in the mining and metallurgical complex of Ukraine, which affect the efficiency of human capital utilization of metallurgical enterprises and, as a consequence, the realization of their market potential, are analyzed. The work deals with accounting of individual human capital by value indicators. For information support of accounting of the state and estimation of the human capital in work the forms of the accounting cards are offered, information from which, should be the basis for formation of the management balance of the human capital in the system of management accounting of the enterprise.
On the example of the activity of PJSC «EVRAZ – DMZ» it is found that the total undervaluation of the market value of the enterprise taking into account the accumulated cost of human capital amounted to UAH 583 million.
An explicit model of analysis of factors of formation of market potential of metallurgical enterprise and estimation of indicators of use of their human capital has been formed. metallurgical complex). Using cluster analysis and a set of market potential indicators of the above group of enterprises, the influence of human capital cost indicators on the integral characteristic of market potential - the market position of a metallurgical enterprise among its closest competitors in the domestic market - was proved.
