Anti-Crisis Financial and Personnel Management as Key Factors to Provide Effective Development of Eastern European Enterprises in the Agricultural Sector

Abstract

Purpose: The main aim of this research is the development of ways to enhance the efficiency and performance of anti-crisis financial and personnel management at Eastern European agricultural enterprises based on the assessment of the role of such management types and the determination of a set of problems from their implementation. Design/Methodology/Approach: The study has used quantitative analysis, the method of forecasting time series based on the implementation of the regression function, as well as panel data to both estimate anti-crisis financial and personnel management in the agricultural sector of Eastern European countries and find problems in its application. Findings: The study has proved the increase of the role of the agricultural sector in economies of Eastern European countries as well as a significant negative impact of unprofitable agricultural enterprises on it. Besides, the implementation of anti-crisis financial and personnel management in such enterprises and its key problems have been assessed. Practical Implications: The study is important in terms of decreasing a share of unprofitable agricultural enterprises and accelerating the development of the agricultural sector in Eastern European Post-Soviet economies. Originality/Value: The study has developed a set of ways to increase the efficiency and performance of the implementation and application of anti-crisis financial and personnel management in the agricultural sector of Eastern European countries.