ENSURING THE FINANCIAL STABILITY OF ENTERPRISES IN CONDITIONS OF MARTIAL LAW AND ECONOMIC TURBULENCE
Abstract
The article examines the financial resilience of Ukrainian enterprises under martial law and economic turbulence. It emphasizes that the full-scale aggression has caused complex transformations of the economic environment, intensified uncertainty, complicated access to financial resources, disrupted supply chains, and led to a decline in production capacity. It is demonstrated that financial stability has become a key indicator of economic survival and the ability of enterprises to adapt, modernize, and reinvest in recovery. The study synthesizes current academic sources and analytical reports by the NBU, World Bank, OECD, and Ukrainian researchers regarding the impact of crisis processes on business and mechanisms of support. It is substantiated that traditional indicators of liquidity, solvency, profitability, and autonomy must be complemented by shock-resilience parameters, including the assessment of reserves, flexibility of financial flows, and access to alternative suppliers and sources of financing. An approach to improving the diagnostics of financial stability is presented, with the application of stress-testing, scenario planning, and sensitivity analysis of key indicators. An adaptive management model is proposed, encompassing operational diagnostics, resource reserving, debt restructuring, financial process digitalization, risk hedging, and diversification of markets and supply chains. The article highlights the differences in resilience tools for small and medium-sized enterprises, large companies, and retail businesses. The role of public policy, monetary measures, guarantee programs, and international support in creating a favorable environment for business stabilization is outlined. It is emphasized that the combination of internal managerial decisions and external financial support is a critical condition for preserving economic potential. The results obtained have practical significance for enterprises, public authorities, financial institutions, and the academic community, as they outline conceptual and practical guidelines for ensuring financial resilience under wartime conditions.
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