Mariia Tepliuk

The study analyzed and summarized publications on the nature of the formation of financial and credit infrastructure, which is created in order to support agricultural enterprises. The functioning and development of financial and credit infrastructure as a factor of social and economic development of the country is explored. The features of diversification of financing sources of agricultural enterprises are determined. The role of bank lending to agricultural enterprises in Ukraine is investigated. The model of interaction of participants of the financial and credit infrastructure of support for agricultural enterprises through the formation of the certain conditions is proposed. It is proved that such measures will provide increase in the efficient use of available agro-resource potential and reopen the industry attractiveness for investing companies.

Nowadays, there is a constant need to build an appropriate system for assessing the company`s value for shareholders, which implies that the company chooses an adequate model based on drivers, which allow making decisions at all management levels associated with investment activity, ensuring an increase in value for owners. The purpose of the article is to improve the methodology for assessing the influence of drivers as a critical element of value-oriented management on the investment activity of companies. The analysis technique consists of two parts. In the first part, regression models of factors influence and cost drivers on the value multipliers and shareholder profits were built. Based on the interpretation of the coefficients obtained, it should be noted that the cost-effectiveness of assets has the most powerful impact on the market value of the company and shareholder`s profitability.
Thus, the presence of sustainable competitive advantages, resulting simultaneously in higher company value and profitability, the variable profitability in its turn does not fully reflect the potential for generating cash flows in the future. In the second part of the analysis, the authors built the probit models of the factors influence and cost drivers on the probability that the value multipliers of the market average values and the total profitability of shareholders are above the market average. Based on the relative strength model of the influence factors and drivers of value on value-based management, the recommendations were formulated.

Wars not only disrupt economic stability but also displace numerous enterprises, altering the socioeconomic landscape of affected regions. This study aims to analyze the case of relocated businesses in Ukraine, particularly their needs and adaptation in the host regions. An expert survey method was applied for 58 relocated micro-, small, and medium enterprises. The survey and review of secondary sources allowed distinguishing that security is the main driver of relocation (65% of respondents). Although for more than half of the respondents, relocation led to an increase in business activity in the host region, their ability to cover their own needs at the expense of their own funds fell, which led to the demand for external sources of financing. The biggest challenges are the cultural and doing business differences, loss of suppliers, and energy costs. In addition to financing, the TOP-3 needs include access to new markets (60%), the need for new equipment (57%), and special local permits (47%). Host regional authorities, as well as foreign donors, played a crucial role in adaptation to their region. In turn, businesses also note their contribution to the development of the host regions through tax contributions and providing jobs for the population and higher-quality products. Businesses demonstrate their openness to cooperation with foreign donors more than with local sponsors. These results are helpful for policymaking regarding regional development and the post-war rebuilding of Ukraine.