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Modeling the Financial Strategy of the Enterprise in an Unstable Environment


  • Lidiya Guryanova
  • Tamara Klebanova
  • Tetiana Trunova


Modern conditions of enterprise operation are characterized by a large number of negative factors. First of all, such factors include decrease in business activities of stock markets, low level of exchange fluctuations predictability etc. These factors generate additional financial risks and lead to significant losses and damages, and as a result they can cause the financial crisis situations. The novelty of scientific challenges contains the following tasks: to develop the complex of economic mathematical models which allows assessing the impact of uncontrollable external factors on financial activity; to create preventive financial strategies ensuring stable functioning and development of the enterprise under threats. The development of models is based on methods of multivariate analysis (principal component analysis, the method of the development level, the method of gravity center, hierarchical agglomerative methods and iterative cluster analysis, discriminant analysis, classification trees), econometric methods (pool data models, logit- and probit-models, vector autoregression technology, error correction models), simulation methods and system dynamics approach. The models implication in companies’ activity has allowed developing financial strategy balanced on various directions while considering the potential financial risks.

Suggested Citation

  • Lidiya Guryanova & Tamara Klebanova & Tetiana Trunova, 2017. "Modeling the Financial Strategy of the Enterprise in an Unstable Environment," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 91-109.
  • Handle: RePEc:bas:econst:y:2017:i:3:p:91-109

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    References listed on IDEAS

    1. Robert Brumnik & Tamara Klebanova & Lidiya Guryanova & Sergii Kavun & Olexandr Trydid, 2014. "Simulation of Territorial Development Based on Fiscal Policy Tools," Mathematical Problems in Engineering, Hindawi, vol. 2014, pages 1-14, May.
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    Cited by:

    1. Michal Fabuš & Nadiya Dubrovina & Lidiya Guryanova & Natalia Chernova & Olexandr Zyma, 2019. "Strengthening financial decentralization: driver or risk factor for sustainable socio-economic development of territories?," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 875-890, December.
    2. Marianna Oliskevych & Galyna Beregova & Viktor Tokarchuk, 2018. "Fuel Consumption in Ukraine: Evidence from Vector Error Correction Model," International Journal of Energy Economics and Policy, Econjournals, vol. 8(5), pages 58-63.
    3. Zherlitsyn, Dmytro & Levytskyi, Stanislav & Mykhailyk, Denys & Ogloblina, Victoriia, 2019. "Assessment of Financial Potential as a Determinant of Enterprise Development," MPRA Paper 97069, University Library of Munich, Germany.
    4. Lidiya Guryanova & Olena Bolotova & Vitalii Gvozdytskyi & Sergienko Olena, 2020. "Long-term financial sustainability: An evaluation methodology with threats considerations," RIVISTA DI STUDI SULLA SOSTENIBILITA', FrancoAngeli Editore, vol. 0(1), pages 47-69.

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      JEL classification:

      • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
      • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
      • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling
      • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty


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