Biliak Y. Financial security of business entities in the agricultural sector in the conditions of economic conflicts

The dissertation is devoted to the theoretical and methodological generalization and justification of a new solution to the topical scientific problem of strengthening the financial security of economic entities in the agricultural sector in conditions of economic conflicts. The work clarifies the meaning of financial security and traces the evolution of scientific approaches to defining its nature. It systematizes the peculiarities of the impact of economic conflicts on the financial security of agricultural entities and characterizes approaches to the formation of financial security mechanisms in the agricultural sector of the economy. Financial security is proposed to be considered as a process that includes: identification, analysis, and assessment of financial risks caused by economic conflicts; identification of the optimal financial security strategy, taking into account the peculiarities of the functioning and management of the economic entity; development, planning, and implementation of a set of security measures; building a system for effective monitoring and control of the implementation of management decisions in the field of financial security. It has been proven that economic conflicts that have the most powerful impact on the financial security of agricultural entities should be systematized into ten key groups (with the identification of subgroups and different types). These include conflicts arising from the use of natural resources; competitive conflicts; conflicts arising in the course of economic activity between agricultural producers, their partners, and other counterparties; conflicts arising in the course of international trade; labor conflicts; ecological economic conflicts; conflicts arising from the use of GMOs; conflicts arising from the alternative use of land and other agricultural resources and capacities; energy conflicts; and property conflicts. The mechanisms for financial security of agricultural entities are substantiated, namely: individual (using own resources or attracting external financing at the entity's own discretion), integration (based on cooperation and the pooling of efforts, means, material and financial resources of two or more entities with common interests) and preferential (with the involvement of assistance and support from the state or local communities in the form of subsidies, grants, benefits, and other forms of support). The differences between these mechanisms in terms of their essence, goals and objectives, means and resources, methods, instruments, and implementation process have been identified. The methodology for assessing the level of financial security, methods for diagnosing the impact of economic conflicts, and methodological tools for determining the financial security potential of agricultural entities in conditions of conflict interaction have been studied. It has been shown that the methodology for assessing the level of financial security differs depending on the chosen financial strategy and the leading security criterion, and is distinguished by a set of indicators and metrics, methods, principles, analysis procedures, and information support. The expediency of integrating modern analytical tools, increasing the flexibility of assessment approaches, combining financial and non-financial indicators, introducing early warning and response tools, and improving communication channels between stakeholders is proven. The socio-economic conditions of the agricultural sector have been analyzed and the impact of competitive conflicts on operational efficiency and financial security has been assessed. It has been determined that competitive conflicts caused by asymmetric competition are widespread in the agricultural sector, where entities that differ in size, organizational and legal forms, operating principles, and resource provision compete in the same markets. Asymmetric competition leads to a violation of solvency and a distortion of economic efficiency (differences in labor productivity, profitability, and capital utilization), which can ultimately lead to a loss of financial security and a narrowing of the diversity of agricultural entities. The nature of the impact of conflicts between commodity producers and contractors on the processes of attracting and allocating capital has been identified, which encourages entities to pursue irrational financial policies, more aggressive financing models, and increased risk-taking. The imperfection of the policy of attracting financial resources limits maneuvering in the placement of capital, forms insufficient provision of economic resources and an irrational structure of assets, reduces mobility and monetization, provokes unjustified credit policy and irrational approaches to the formation of reserves.