Simulation of the capital structure of an enterprise taking into account the dynamics of parameters of the external environment
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DOIhttp://dx.doi.org/10.21511/ed.19(2).2020.05
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Article InfoVolume 19 2020, Issue #2, pp. 44-59
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Information technology is an effective tool for substantiating management decisions in any field of activity, including the economy. One of the most important characteristics of the functioning of economic agents in a market is the structure of their capital because the interest of foreign investors in the business entity depends directly on the balance of this structure. Therefore, the process of managing the capital structure of a business unit needs special attention both in terms of sustainable development and during the crisis. Given the mentioned above, the object of the study is the process of managing the enterprise capital structure. The study aims to improve the methodological support of the process of managing the enterprise capital structure taking into account the dynamics of the parameters of the external environment of its operation. As for the results of the research, the EPC diagram of the optimization process of the enterprise capital structure was developed. Due to the use of the vector graphic editor MS Visio, this model allows visually displaying the scenario of a financial manager’s activity during performance of his duties on the modeled subject area; the methodical approach to assessing the sustainability of capital structure management based on the building of Shewhart quality maps was suggested. Such maps enable to identify typical (optimal, preventive and control) values of the components of the capital structure of an entrepreneurial unit; methodical recommendations for operative management on an enterprise capital structure at the innovation and investment stage of its development were developed. They are based on the use of a method of linear programming. They allow defining possible deviations of capital structure indicators while retaining the control of the chosen strategy of its development.
- Keywords
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JEL Classification (Paper profile tab)С53, D24, M10
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References20
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Tables5
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Figures11
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- Figure 1. Система понять з управління капіталом підприємства
- Figure 2. ЕРС-діаграма процесу визначення стабільності процесууправління структурою капіталу за допомогою ККШ
- Figure 3. ЕРС-діаграма процесу визначення стабільності процесу управління структурою капіталу за допомогою ККШ
- Figure 4. Зональні характеристики розташування значень досліджуваних показників на карті Шухарта Зональні характеристики розташування значень досліджуваних показників на карті Шухарта
- Figure 5. ККШ динаміки обсягу активів
- Figure 6. ККШ динаміки обсягу довгострокових зобов’язань
- Figure 7. ККШ динаміки обсягу поточних зобов’язань
- Figure 8. ККШ динаміки обсягу чистого прибутку
- Figure 9. ЕРС-діаграма розрахунку рентабельності власного капіталу
- Figure 10. Параметри ЗЛП визначення оптимальної структури капіталу за умови різного впливу зовнішнього середовища
- Figure 11. Графічне зображення результатів моделювання можливої динаміки структури капіталу з огляду на збереження керованості процесом
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- Table 1. Стан процесу управління структурою капіталу
- Table 2. Вихідні дані для побудування ККШ
- Table 3. Значення показників структури капіталу та чистого прибутку за ККШ
- Table 4. Результати моделювання можливих змін показників структури капіталу та фінансового результату підприємства
- Table 5. Співставлення результатів моделювання (2018 р.) із даними параметрів структури капіталу підприємства у 2019 р.
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Some models of demand for benefits, offered by an enterprise
Lyudmyla Potrashkova
doi: http://dx.doi.org/10.21511/ed.17(3).2018.03
The activities of an enterprise are based on constant exchanges of material and nonmaterial goods with its stakeholders. According to the stakeholder concept, there are common features in the processes of enterprise’s interaction with different groups of stakeholders. For example, common patterns can be found in the behavior of two primary stakeholders groups – buyers and employees. Each actor of these stakeholder groups makes a choice between enterprises on the bases of characteristics of goods (products or working conditions), which are provided by these enterprises, and their own preferences for these characteristics. And yet the preferences of different actors from one stakeholders group are generally different. For example, different buyers have different preferences about products characteristics, and employees have different preferences about working conditions. Thus, in the market of certain good (products or vacancies), on the one hand, there is a variety of variants of the good which differ in their characteristics and, on the other hand, there is a variety of subgroups of stakeholders (buyers or jobseekers), which differ in their preferences about the characteristics of the analyzed good. Therefore, the demand for the good offered by the analyzed enterprise depends on the ratio between the supply of the analyzed good variants and the demand for them from stakeholders subgroups with different preferences. This fact should be taken into account in the process of analyzing and forecasting demand for products and vacancies of enterprises, but existing demand models do not take it into account. The purpose of the study is to construct mathematical models that will allow to assess the demand for products and vacancies of an enterprise, depending on: а) characteristics of the analyzed products and working conditions; b) the preferences of the stakeholders for these characteristics values; c) the available supply volumes from competing enterprises. The paper proposes to assess the demand for an enterprise products by means of an optimization “transportation” model, in which the variables are the volumes of the distribution of variants of products, which differ in consumer characteristics, between groups of buyers, which differ in preferences for products characteristics. Similarly, the demand for vacancies of an enterprise is proposed to be evaluated using the system of optimization "transportation" models, in which the variables are the volumes of the distribution of vacancies in different enterprises, which differ in working conditions, between groups of jobseekers, which differ in the level of competence and preferences for the characteristics of working conditions. The constructed models are designed to meet the challenges of analysis and modeling enterprises activity, taking into account the existence of different variants of buyers’ and employees’ preferences. The novelty of the proposed models resulted from taking into account the set of variants of stakeholders' preferences for the characteristics of goods, as well as using the criterion that evaluates variants of goods distribution among stakeholders in the context of its matching for the preferences of different sub-groups of stakeholders.
