Generalized indicator and classification structures of the capital of the industrial enterprises
https://doi.org/10.20914/2310-1202-2017-3-187-193
Abstract
This article examines the problem of assessing the financial stability of an enterprise. The financial status of the enterprise is characterized by a set of financial indicators, and the most widespread method of the analysis of these indices is the method of financial coefficients. However the financial coefficients calculated for the specific enterprise often contradict each other that results in ambiguity of assessment of a financial status. For elimination of this ambiguity in this operation the generalized index of structure of the capital as rating number is entered. which variable (signs) are normed by division into the appropriate boundaries of normal restrictions for each financial coefficient. Weight coefficients of the created rating number are defined by the modern method of the analysis of hierarchies. For the provided these balances of 10 specific enterprises the generalized indices of structure of the capital are calculated, diagrams are constructed and the most unsuccessful enterprises are defined. Further very important problem about communication of the received estimates with results of assessment of a financial status in general by a method of the scoring analysis is solved. Comparing of the appropriate diagrams shows high-quality coincidence, and for the quantitative confirmation of communication correlation analysis is used. The correlation coefficient of Pearson for the considered enterprises is equal 0,945, and the coefficient of grade correlation of Spirmen used for check is equal 0,967 that demonstrates close correlative connection of the results received by method of the generalized index of structure of the capital and method of the scoring analysis. The last circumstance allows to recommend calculation of the generalized index as a method of preliminary express assessment of a financial status of the enterprises. The offered technique can be used also for creation of other generalized indices, for example, of the generalized index of solvency.
About the Authors
A. I. Horev
Voronezh state university of engineering technologies
doctor of economical sciences, professor, economic security and financial monitoring department, Revolution Av., 19 Voronezh, 394036, Russia
doctor of economical sciences, professor, economic security and financial monitoring department, Revolution Av., 19 Voronezh, 394036, Russia
I. I. Barkalova
Voronezh state university of engineering technologies
candidate of economical sciences, assistant professor, economic security and financial monitoring department, Revolution Av., 19 Voronezh, 394036, Russia
candidate of economical sciences, assistant professor, economic security and financial monitoring department, Revolution Av., 19 Voronezh, 394036, Russia
S. V. Bukharin
Voronezh state university of engineering technologies
candidate of economical sciences, assistant professor, economic security and financial monitoring department, Revolution Av., 19 Voronezh, 394036, Russia
candidate of economical sciences, assistant professor, economic security and financial monitoring department, Revolution Av., 19 Voronezh, 394036, Russia
References
1. Ngoc Nguyen Bich. The effect of capital structure and legal status on financial sustainability of mfis in developing countries. Review of Business and Economics Studies. 2016. no. 2. pр.12–18.
2. Poberezhets O.V. Multi-criteria system of evaluating the economic situation sectors enterprises. Ekonomika realii chasu [Economics: realities of time] 2015. no. 4 (20). pp. 52–58. Available at: http://economics.opu.ua/files/archive / 2015/n4.html (in Ukrainian)
3. Polyakov K., Polyakova M. The role of financial factors interactions in the capital structure determination. Journal of corporate finance research. 2015. no. 4 (36). pр.17–23.
4. Веzbоrоdоvа Y.E. The analysis of financial statements as approach to the assessment of financial stability of the enterprise». The Russian Academic Journal. 2013. vol. 24. no. 2. pp.10–16.
5. Faden C. Alignment of Operational Success Drivers on the Basis of Empirical Data. Berlin: Optimizing Firm Performance: Springer, 2015. 189 p.
6. Alferina O.N. Kazakova S.V. Analysis of structure of the capital and increase in financial stability of the enterprise. Innovatsionnaya nauka [Innovative science] 2015. no. 6. pp. 4–9. (in Russian)
7. Makeeva E.Y., Kozenkova T, Taxation and capital structure: evidence from Russian companies. Asian Online Journal. 2015. vol. 2. no. 1. pp. 39–46.
8. Nechaeva I., Zavertiaeva M.A. Impact of Market Timing on the Capital Structure of Russian Companies. Journal of Economics and Business. 2017. no. 92. pp. 10–28.
9. Bukharin S.V., Melnikov A.V., Horev A.I. Expert assessment and forecasting of the generalized indicator of structure of the capital of the enterprises. Finansy. Ekonomika. Strategiya [Finance. Economy. Strategy (F.E.S)] 2013. no. 5. pp. 9–12. (in Russian)
10. Bukharin S.V., Melnikov A.V., Horev A.I. Klasterization of a financial condition of the enterprises on the basis of the scoring analysis. Finansy. Ekonomika. Strategiya [Finance. Economy. Strategy (F.E.S)] 2012. no. 7. pp. 8–11. (in Russian)
Review
For citations:
Horev A.I., Barkalova I.I., Bukharin S.V. Generalized indicator and classification structures of the capital of the industrial enterprises. Proceedings of the Voronezh State University of Engineering Technologies. 2017;79(3):187-193. (In Russ.) https://doi.org/10.20914/2310-1202-2017-3-187-193
Views:
691
Email this article 
Post a Comment 
