METHODOLOGY FOR ASSESSING THE LEVEL OF ENTERPRISE ECONOMIC SECURITY WITHOUT BEYOND THE STAKEHOLDERS SECURITY PERSPECTIVE
Keywords:liminal values, lack of earnings before tax (ЕВТ) value, components of enterprise economic security
The modern literature review has identified a certain research gap in developing an approach to assess the level of enterprise economic security that would not take into account the impact of its stakeholders security, on the one hand, but would provide it, if necessary, on the other – to combine both assessment methods. The purpose of this study is to improve the methodology for assessing the level of enterprise economic security beyond the context of considering its stakeholders security perspective. To attain the objectives set in the study, the following research methods have been employed: generalization – to explore different economic concepts and approaches to view the object of study and develop conclusions behind the content analysis of primary sources; analysis and synthesis – to interpret the key research categories and specify the economic security indicators. It argued that for assessing the level of economic security, from analytical perspective, the EBT deficit indicator (earnings before tax) seems more appropriate, since it offers all the advantages of net profit, but at the same time is characterized by the benefit of its comparability. It is suggested to calculate the EBT value deficiency as the amount of lost profit before tax, which is insufficient to ensure that the indicators of each component of the enterprise economic security are equal to their reference or established values. The study also specifies the economic security indicators subject to its decomposition, which is considered in terms of company current economic interests security and is presented by a hierarchical structure, as well as the overall enterprise security in the strategic period. Moreover, a special focus is placed that any stakeholders group has to be excluded from the above security hierarchy. The study offers an indicator to assess the level of enterprise economic security and an appropriate scale for transforming the obtained values into linguistic terms. To evaluate economic security in the strategic period, the use of the company cash value added indicator is suggested. The developed approach does not assume cost assessment needed to ensure stakeholders security which allows measuring the so called net economic security. The application of this approach in business practices of company structural units (including economic security services) will contribute to enhancing management decisions effectiveness, since the information available through the use of the proposed approach will provide an objective background to evaluate the effects from a number of activities against violation of the enterprise economic interests without taking into account the costs for ensuring the stakeholders security.