Необходимость таргетирования рентабельности активов и собственного капитала на предприятиях АПК

Abstract

The article clarifies the relevance of the implementation of targeting the return on assets and equity capital for enterprises of the agro-industrial complex. In the long term, the return on assets should exceed the price of debt capital, and the return on equity should exceed the inflation rate. Compliance with these rules will allow sector of the economy to exist and develop. The purpose of the work was to substantiate the need and clarify the specifics of targeting the return on assets and equity capital at the enterprises of the agro-industrial complex. The reasons for the need to target the considered indicators are determined: a high level of inflation, risk, the cost of borrowed capital, as well as the presence of a conflict of interests between managers and owners of enterprises. Ignoring the interests of the owners of the agro-industrial complex enterprises and their exclusion from real business management can cause an outflow of capital from the industry. Targeting return on assets and equity should be carried out complementary to the current planning at the enterprise. Despite the fact that the ultimate interest of business owners is to maximize the return on equity, this indicator should be targeted simultaneously with the return on assets, since achieving the target on the latter will allow using financial leverage and optimizing the amount of equity capital. The currently relevant values of the target of return on equity of agribusiness enterprises are 22%, return on assets - 20%.