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Economic Coenosis Stability: Methodology and Findings

In: Contemporary Issues in Business and Financial Management in Eastern Europe

Author

Listed:
  • A. N. Kuzminov
  • N. G. Korostieva
  • V. M. Dzhukha
  • O. A. Ternovsky

Abstract

Stochastic models are seldom used when we analyze the stability and the efficiency of enterprise cost systems. Despite of numerous restrictions, along with the complexity of mathematic formalization, this approach would encourage more rational use of resources under conditions of extreme change in external and internal business environments. Different methods of Maximum Likelihood Estimations (MLE) have been introduced to weaken these parametric drawbacks. However, the high computational complexity makes its use difficult. This work prevailingly demonstrates the use of coenosis theory to design and analyze cost systems of industrial enterprises, including the use of numerically reliable statistical computations. This approach can also be observed as a delicate parametric adjustment of economic coenosis structures ensuring stability and sustainability. The chapter provides the example of the mentioned methodology within the frame of an ordinary industrial enterprise.

Suggested Citation

  • A. N. Kuzminov & N. G. Korostieva & V. M. Dzhukha & O. A. Ternovsky, 2018. "Economic Coenosis Stability: Methodology and Findings," Contemporary Studies in Economic and Financial Analysis, in: Contemporary Issues in Business and Financial Management in Eastern Europe, volume 100, pages 61-70, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-375920180000100008
    DOI: 10.1108/S1569-375920180000100008
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    More about this item

    Keywords

    Stability of industrial enterprises; self-organization of systems; coenoses; financial resources; efficiency and productivity analysis; stochastic frontier analysis; O10; M21; C14;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General

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