The dissertation presents the solution of an important scientific and practical problem of developing and substantiating the fundamental value approach to capital management of industrial enterprises. The paper organizes scientific approaches to the study of capital in economic theory, describes the content of such properties of capital (the ability to reproduce, accumulate, convert forms, create new (added) value), which distinguish this category from others, and determine their specificity within financial direction of research of the capital of the enterprise. The characteristics of suitability and capital adequacy of the enterprise are determined, the content of which is disclosed in accordance with the basic provisions of the concept of economic profit. The expediency of managerial focusing on fundamental value as criteria of efficiency and effectiveness of capital management under modern conditions of enterprise activity is actualized and substantiated. Based on a combination of theoretical provisions on the resultant, attributive, procedural and value aspects of capital formation, the conceptual provisions of the fundamental value management of the capital of the enterprise are developed and substantiated. The peculiarities of the objectified and incorporated spaces of capital formation, where the interaction and mutual conversion of differentiated types of capital take place, are determined.
The directions of evaluation of financial efficiency of capital management are organized, which determine process, attributive, managerial, systemic and by types of capital. Within the management direction of evaluating the financial efficiency of capital formation, the argumentation of the expediency of shifting the analytical focus of management from the market to the fundamental value of capital is presented. The methods of estimating the market value of the enterprise's capital are organized, which are divided between two methodological directions: stock and fundamental. The expediency of using polycriteria factor models in assessing the fundamental value results of capital formation and capital quality of industrial enterprises is argued. The content of the category "fundamental value analysis" is specified and the peculiarities of its application in the processes of evaluating the financial efficiency of capital management of the enterprise are determined. The criteria and systems of indicators for assessing the adequacy and suitability of capital have been expanded, on the basis of which the methodological approach to assessing the quality of capital according to the fundamental value logic is substantiated.
The current state and development trends of industrial enterprises of Ukraine are studied, the peculiarities of capital formation at domestic industrial enterprises are determined and the reasons for the negative dynamics of fundamental value results are established. Sectoral features that characterize trends in the field of capital formation of domestic industrial business are identified. The financial efficiency of the formation and functioning of the capital of domestic industrial enterprises during 2010–2019 is assessed, as well as the key problems and reasons for the declining trends in the financial efficiency of capital formation are identified. The level of capital quality of food, metallurgical and machine-building enterprises of Ukraine is assessed and the interrelation of capital quality indicators and key fundamental value results of capital formation is determined.
Recommendations for improving information and methodological support for the implementation of fundamental-value approach to capital management of industrial enterprises, expanded instrumental capabilities of financial modeling of capital formation results, made a forecast assessment of value results of capital management for a sample of domestic industrial enterprises using Data Science methods and tools. The need for systematic formation of non-financial reporting in industrial enterprises using the TBL-criterion (or 3BL, Triple bottom line) in accordance with the GRI (Global Reporting Initiative) and management accounting standards (PAS 1919) is argued. The possibilities of using predictive analysis (Predictive Analysis) in the implementation of the fundamental value approach to capital management of an industrial enterprise are identified.
The substantive boundaries of the study of financial modeling, which are determined at the intersection of the financial aspects of strategic, operational and business modeling, using the analytical and information technology potential of Data Science.
