MEASUREMENT OF FINANCIAL STABILITY: SEARCH FOR MEANS OF RESPONSE TO CHALLENGES AND THREATS

Abstract

Ensuring the sustainable development of companies largely depends on the efficiency of capital management. Due to the influence on financial stability, the rational formation, placement, functioning and maintenance of capital becomes an important factor in achieving the desired financial stability in particular and eco-social stability in general and indirectly contributes to the achievement of the defined goal of socially responsible and ecologically safe economic growth.The transport and logistics industry is one of the important sectors of the national economy, which is also reflected in the cost of capital involved in the activities of industry companies. The share of equity capital of companies in the transport and logistics sector of the economy is more than a tenth of the value of equity capital involved in the economy as a whole. According to the data of the rearranged retrospective analysis, which allows to diagnose the general trends and the logic of the structural distribution of aggregates of indicator values, as well as additional information of the State Statistics Service of Ukraine, it is possible to calculate the indicators of the central tendency of the capital structure of companies in the transport and logistics sector of the economy and to build a model of the formation of the capital structure and financial stability. Moreover, as the scientists note, financial sustainability serves as a kind of guarantor of economic responsibility for the timely fulfillment of financial obligations and ensures stable solvency due to a sufficient share of own funds in the composition of sources of financing, thereby directly contributing to the formation and provision of the overall eco-social behavior. Transport and logistics companies, first of all, should take into account that in order to maintain financial resilience, illiquid and hard-to-realize assets should be financed from their own sources, and if there is a high share of illiquid assets, they should have a large share of equity capital. Secondly, the condition in which financial resilience is maintained is control over the amount and dynamics of fixed costs: a larger share of fixed costs requires a larger amount of equity capital. Thirdly, a company with a high rate of capital turnover can have a large share of borrowed funds without the risk of loss of solvency, accordingly, it is necessary to strive to shorten the operating cycle in order to increase the possibility of attracting additional sources of financing.