+7(495) 989 9610
ИД «Финансы и кредит»

ЖУРНАЛЫ

  

АВТОРАМ

  

ПОДПИСКА

    
«Финансовая аналитика: проблемы и решения»
 

Реферирование и индексирование

РИНЦ
Referativny Zhurnal VINITI RAS
Worldcat
Google Scholar

Электронные версии в PDF

EBSCOhost
Eastview
Elibrary
Biblioclub

Development of a methodology for evaluating the effectiveness of financial policies of companies

т. 14, вып. 4, декабрь 2021

Получена: 25.10.2021

Получена в доработанном виде: 31.10.2021

Одобрена: 05.11.2021

Доступна онлайн: 15.11.2021

Рубрика: Финансовые инструменты

Коды JEL: G3, G32, M21

Страницы: 364–375

https://doi.org/10.24891/fa.14.4.364

Vladimir A. SLEPOV Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation 
vlslepov@yandex.ru

Kirill E. PIVNYK Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation 
kirillpivnyk@gmail.com

Subject. This article presents an analysis of the essence of financial policy as a factor of effective development of companies. Evaluation of the effectiveness of the implemented financial policy of companies is a significant scientific and practical problem. It determines the choice of the main criteria used to calculate the financial policy effectiveness.
Objectives. The article aims to develop a comprehensive methodology for assessing the effectiveness of financial policy of companies in modern conditions, and define criteria for its evaluation.
Methods. The Due Diligence approach is the basis for solving the research tasks: comparing the current standards and methods for assessing the financial policy of companies and simplifying its implementation through the proposed method of multivariate coefficient analysis.
Results. The article offers a comprehensive approach to assessing the effectiveness of financial policy, considering electric power companies as a case study. The practical significance of the results obtained lies in the use to increase the investment attractiveness of companies that are considered as potential investment objects.
Conclusions. The research proposes a methodology for assessing the financial policy of companies based on a multivariate, customizable system of financial coefficients. An indicator of the effectiveness of financial policy of companies was calculated. It can be recommended for practical application. The obtained results of evaluating the effectiveness of financial policy can be used by the companies’ management to make management decisions, investors to choose the best investment option, market participants to rank companies by efficiency, and determine industry benchmarks.

Ключевые слова: financial policy, efficiency, assessment methodology, Due Diligence, integral indicator

Список литературы:

  1. Ermasova N.B. [Financial risk management]. Vestnik Povolzhskoi akademii gosudarstvennoi sluzhby, 2001, no. 2, pp. 78–85. URL: Link (In Russ.)
  2. Kiseleva I.A., Simonovich N.E. [Risk assessment in business: Entrepreneurial risks]. Finansovaya analitika: problemy i resheniya = Financial Analytics: Science and Experience, 2017, vol. 10, no. 3, pp. 244–257. (In Russ.) URL: Link
  3. Slepov V.A., Gromova E.I., Kerry I.T. Finansovaya politika kompanii [Financial policy of the company]. Moscow, Ekonomist Publ., 2008, 283 p.
  4. Auclert A. Monetary Policy and the Redistribution Channel. The American Economic Review, 2019, vol. 109, iss. 6, pp. 2333-2367. URL: Link
  5. Zhdanov V.Yu. [Anti-crisis mechanism to diagnose the bankruptcy risk of the enterprise]. Upravlenie ekonomicheskimi sistemami, 2011, no. 32. (In Russ.) URL: Link
  6. Khaidarshina G.A. [Improvement of methods of assessing risk of bankruptcy Russian in modern conditions]. Imushchestvennye otnosheniya v Rossiiskoi Federatsii = Property Relations in the Russian Federation, 2009, no. 8, pp. 86–95. URL: Link (In Russ.)
  7. Perfil'ev A.B. [Improvement of mechanism of crisis management on the basis of application of economic-mathematical model of complex assessment of financial condition of the organizations]. Finansovaya analitika: problemy i resheniya = Financial Analytics: Science and Experience, 2012, no. 22, pp. 43–46. URL: Link (In Russ.)
  8. Pashchenko T.V. [Accounting development as reflection of economic transformations]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2015, no. 11-1, pp. 949–952. (In Russ.)
  9. Randall J.S., Truman M., Lymer A., Azmat N. Basic Accounting. London, MPS Limited, Macmillan Company, 2010, 330 p.
  10. Ripol'-Saragosi F.B. Vnutrennii kontrol' v krupnykh kompaniyakh: monografiya [Internal control in large companies: a monograph]. Rostov-on-Don, Rostov State Transport University Publ., 2009, 179 p.
  11. Blank I.A. Upravlenie finansovoi stabilizatsiei predpriyatiya [Management of financial stabilization of the enterprise]. Kiev, Nika-Tsentr, El'ga Publ., 2003, 496 p.
  12. Adler Yu.P., Markova E.V., Granovskii Yu.V. Planirovanie eksperimenta pri poiske optimal'nykh reshenii [Experiment planning in search of optimal solutions]. Moscow, Nauka Publ., 1976, 280 p.
  13. Tezyaeva A.S. The Financial Policy as a Part of Entity's Economic Policy. Molodoi uchenyi = Young Scientist, 2017, no. 18, pp. 185–187. URL: Link
  14. Lessmann S., Haupt J., Coussement K., De Bock K.W. Targeting Customers for Profit: An Ensemble Learning Framework to Support Marketing Decision-Making. Information Sciences, 2021, vol. 557, pp. 286–301. URL: Link
  15. Fedorova E.A., Chukhlantseva M.A., Cherkizov D.V. [Normative values of financial stability ratios: Industry-specific features]. Upravlencheskie nauki = Management Sciences in Russia, 2017, vol. 7, no. 2, pp. 44–55. URL: Link (In Russ.)
  16. Diligenskii N.V., Dymova L.G., Sevast'yanov P.V. Nechetkoe modelirovanie i mnogokriterial'naya optimizatsiya proizvodstvennykh sistem v usloviyakh neopredelennosti: tekhnologiya, ekonomika, ekologiya [Fuzzy modeling and multi-criteria optimization of production systems under uncertainty: Technology, economics, ecology]. Moscow, Mashinostroenie 1 Publ., 2004, 335 p.

Посмотреть другие статьи номера »

 

ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

Свежий номер журнала

т. 14, вып. 4, декабрь 2021

Другие номера журнала