In the dissertation the theoretical synthesis was made and the new solution of an important scientific problem was proposed – development of theoretical and methodological principles, improvement of scientific and methodical support, and creation of practical recommendations on the management of enterprise’s financial equilibrium as a condition for corporate finance sustainable development.
The scientific sources of enterprise’s financial equilibrium forming conception are systematized. Historical architectonics of enterprise’s financial equilibrium forming conception is built. It covers the theory of cyclicity, general and partial equilibrium. The conceptual approaches to the definition of «financial equilibrium» concept by the balancing object are highlighted. The definition of «financial equilibrium» and «financial equilibrium management» concepts in an enterprise has been clarified.
Financial equilibrium place in the system of enterprise’s financial management has been determined. The structural and logical scheme of managing by enterprise’s financial equilibrium process has been built, its basic elements and stages have been determined. A conceptual model of enterprise’s financial equilibrium management mechanism has been formed. It is a set of methods, tools and levers used by the financial management system for balancing in space and in time the various components of enterprise’s financial condition in order to ensure the conditions for corporate finance sustainable development.
The time structure of enterprise’s financial equilibrium development cycle is disclosed. This allowed us to prove its wave nature. The phases, stages of financial equilibrium’s cyclical development are selected and ordered. It manifestations are substantiated: stable and unstable statics, stable and unstable dynamics, as well as bifurcations. The sequence of their changes on the basis of the laws of dialectics is proved. This made it possible to consider financial equilibrium as a cyclical economic phenomenon with variable quality content.
The methodology for ensuring enterprise’s financial equilibrium was justified by highlighting this process stages. They represent a consistent balancing of enterprise’s financial condition components from simple to complex. First ensure the ability of the enterprise to survive by balancing cash flows. Later they create a countercyclical buffer against bankruptcy and sufficient financial capacity to ensure the sustainable development of corporate finance.
The scientific and methodical support of enterprise’s financial equilibrium’s complex diagnostics has been improved in order to characterize its development cycle and form analytical conclusions in accordance with the needs of managing it. The compositional scheme of financial equilibrium’s complex diagnostics is described. An algorithm for its implementation is defined. A methodical approach to enterprise’s financial equilibrium’s complex diagnostics has been developed. It provides a practical opportunity to determine the development cycle of enterprise’s financial equilibrium. Tools for identifying manifestations and the qualitative state of enterprise’s financial equilibrium are proposed. They serve to justify the choice of alternative management actions.
The composition of financial equilibrium stability indexes in static and dynamic are determined. They allow us to estimate the spatial form of financial equilibrium with respect to changes in external factors and its dynamics over time. Alternatives to strategic, tactical and operational management by enterprise’s financial equilibrium are substantiated.
Economic and mathematical models for predicting enterprise’s financial equilibrium are developed. They allow you to assess the stability of enterprise’s financial equilibrium to external factors effects, as well as to predict its stability over time depending on changes in internal factors.
Considerable attention is paid to the analysis of ensuring enterprise’s financial equilibrium in conjunction with economic processes in Ukraine, namely: the dynamics of enterprises’ economic balance, their investment and innovation activity, the public finances’ balance, macroeconomic equilibrium, economy’s investment potential, financial capital’s generation, stress-resistance institutional financial market structures, as well as household welfare. It is proved that enterprise’s financial equilibrium plays an important role in shaping the market equilibrium and socio-economic balance of the state, and also household welfare, public finances’ balance through supply and demand channels using production, market, monetary, fiscal, socio-economic tools and levers.
Practical recommendations on application of financial equilibrium management mechanism for ensuring corporate finance sustainable development and enterprises’ bankruptcy prevention are developed.
