REVIEWING AND ASSESSING THE ECONOMIC EFFECTS OF THE FINANCIAL POLICY OF AVIATION INDUSTRY ENTERPRISES

Ірина Миколаївна Крейдич, Ваган Робертович Товмасян

Abstract


The article presents the results of the review and evaluation of the dynamics of economic effects from business financial policies based on the developed scientific methodological approach. A comprehensive assessment of the economic performance dynamics as an outcome of financial policy has been carried out according to the sustainability and turnover criteria for selected enterprises: SE «Antonov», LLC «Kyivaeroproekt», SE «Konotop Aircraft Repair Plant «Aviacon», SE «Lviv State Aircraft Repair Plant», SE «Kharkiv Machine-Building Plant (FED)» and PJSC «Motor Sich». The study employed integrated indicators subject to priorly defined criteria aimed at determining the deviation of the total value of the regulatory and optimizing financial tools efficiency that will enable to assessing the degree of enterprise enhancement. To evaluate the financial policy effectiveness, a methodological approach has been suggested based on the use of a hierarchical model and integrated indicator which includes basic indicators, in particular, the dynamics indicators as to the financial policy objects. The findings have revealed the objects of financial policy that need direct actions to improve the position of aviation enterprises by the criteria of sustainability and turnover. The study has also identified the key objects that urge critical changes and enhancing financial tools to manage stocks, financial assets, receivables, investments, loans, etc. Emphasis is placed on the optimization strategy and the need to build an effective depreciation policy. It is argued that the proposed methodological approach to evaluating the economic effects of the financial policy in the aviation industry will contribute to assessing its current state and adjusting the decision-making policy, as well as to modernizing the management framework and its economic effects on financial processes to boost innovation driven enterprise development.


Keywords


finance; financial and economic relations; financial management; financial policy assessment criteria; financial indicators; financial analysis



DOI: https://doi.org/10.30857/2413-0117.2020.3.3

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