STRATEGIC GUIDELINES FOR CAPITAL STRUCTURE MANAGEMENT OF THE ENTERPRISE
Journal Title: Держава та регіони. Серія: Економіка та підприємництво - Year 2018, Vol 4, Issue 103
Abstract
The article examines scientific and conceptual approaches to the management of capital structure, which have developed since the middle of the 20th century. At the same time, existing work relates mainly to theoretical issues of capital structure management, which do not reflect the specifics of modern information technologies and the importance of intellectual capital. The presence of a combined deficiency of existing approaches to this type of management leads to the proposed conceptual approach to capital structure management, which is based on the compilation of strategic maps. The purpose of this article is to provide recommendations for the development of strategic directions of capital structure management of the enterprise, as the modern system of capital management of an enterprise is not able to position itself as effective without taking into account the management of financial risks. The strategy of forming a capital structure will provide the company with the best position in the external environment and reach the intended goal by identifying future factors of success and threats. The most convenient tool that allows you to evaluate the development and achievement of goals in all aspects of the enterprise, consider the Balanced Scorecard. This concept can be used as the basis for capital structure management because it allows transforming the goal into a set of final indicators, by monitoring which, the management of the enterprise can make decisions aimed at rationalizing the ratio between the components of capital. Consequently, a strategically oriented approach to the system of capital structure management of an enterprise plays a very important role through which, through the development of strategic cards, financial managers are given the opportunity to track the way of achieving strategic objectives set by the company both in complex, and in the aspect of financial subsystem, marketing policy, direct production, and development of intellectual capital.
Authors and Affiliations
S. O. Dombrovska
Keywords
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