CONCEPTUAL PRINCIPLES OF FINANCIAL DIAGNOSTICS IN THE SYSTEM OF VALUE-ORIENTED MANAGEMENT OF CORPORATIONS
Abstract
Formulation of the problem. globalization processes taking place in the world economy, uncertainty of the market environment, changing business conditions and the paradigm of corporate governance – all this sets before the economic science and practice the task of finding new approaches to financial diagnostics as a tool for information support of value-oriented management. Object of the research: financial diagnostics in the system of cost-oriented management of corporations. Methods used of the research: logical content, scientific knowledge, induction and deduction, analysis and synthesis, economic and mathematical modeling. Hypothesis of the research: the existence of a relationship between the value of the corporation, its financial stability, financial performance and net cash flow. Summary of the material: the results of the study substantiate the conceptual foundations of the development of financial diagnostics in the system of value-oriented management of corporate enterprises, the purpose of which is to ensure the sustainable development of business entities on the basis of increasing value and achieving high quality corporate governance. Originality and practical importance: are determined by the generalization of the practice of value-oriented management of corporate enterprises in the part: financial diagnostics of the external environment, value indicators based on financial reporting indicators, stock indicators of corporate enterprise value and the state of corporate governance. The practical significance of the results is to formalize the value drivers of individual confectionery corporations based on correlation-regression models that can be used for forecasting. Conclusions: methodological approaches to: providing information needs of stakeholders on the basis of mechanisms of financial control of corporate enterprises are substantiated; improving the quality of corporate governance models and rating the internal financial and value potential of enterprises; financial diagnostics of the investment attractiveness of corporate securities in the stock market based on expectations-based management.
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DOI: https://doi.org/10.32620/cher.2019.4.06
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