Zlenko N. Formation of the financial mechanism of the business entity crisis management

The dissertation summarizes the theoretical aspects of crisis management of business entities and identifies elements of the crisis management system of business entities. During the study of theoretical aspects of the business entity crisis management the theoretical substantiation of interpretation of the concept "crisis management" and its connection with adaptation of subjects of business is executed. Determining the theoretical aspects of adaptation in the context of crisis management is due to the periodic impact of global crisis phenomena on the activities of domestic businesses. The concept of adaptation has been improved and emphasizes its systematic phased implementation, which distinguishes adaptation from individual adaptation measures. The concept of adaptation potential and its assessment is specified. Crisis management system has been formed, the formation of which is based on the division of tasks, functions and stages of the crisis management process in two directions - crisis response (in case of micro-level crisis) and adaptation (in meso- and macroeconomic crisis). The concept and composition of the elements of the crisis management financial mechanism of the business entity are defined. In particular, its methods include methods of diagnosis and analysis of the crisis and assessment of adaptation capacity, and a key tool is the crisis financial strategy. The classification of crisis financial strategies is reduced to their division into groups - crisis response and adaptation. The main differences between crisis management and adaptation strategies are presented. The components of the financial mechanism of crisis management of a business entity are identified. Methodical approaches to the analysis of financial indicators of business entities in the system of crisis management are generalized. The current crisis tendencies of the machine-building branch business entities are revealed and the analytical estimation of financial indicators of the machine-building branch business entities in the system of crisis management is carried out. An analytical estimation of financial indicators of 20 machine-building branch business entities was conducted by the following methods: calculation of integrated indicators for models of bankruptcy probability; analysis of absolute and comparative indicators; calculation of financial ratios and integrated indicators of the crisis, for which a scale is built to determine the level of crisis - low, medium or high. A methodical approach to determining the composition of financial indicators for assessing the adaptive potential of business entities has been developed. A methodical approach to assessing the adaptive potential of business entities as a key element of the financial mechanism of crisis management has been developed. A cluster analysis of machine-building business entities according to identified indicators of adaptation potential assessment was carried out. The expediency of calculating the integrated indicator of adaptation potential is determined. To determine this indicator, the method of multidimensional rating analysis was used, namely the radar method. Correlation-regression models are built. The tools of the financial mechanism of crisis management of a business entity are substantiated. To do this, the main steps in building an adaptive financial strategy are outlined, the key ones of which are the construction of a “goal tree”, identification of key areas of adaptation, selection of adaptation measures using the matrix of adaptation measures to crisis factors. Keywords: crisis management of business entities, financial mechanism of crisis management, financial indicators, assessment of adaptation potential, tools of financial mechanism of crisis management.