Abstract
The article is devoted to the consideration of modern financial instruments for diagnosing the level of financial safety of companies in the oil-and-fat industry. A three-tiered system for assessing financial safety has been developed for the oil-extraction companies, based on a review of modern approaches to assessing financial safety. The system includes a classic financial analysis tool (coefficient model and discriminatory bankruptcy forecasting models), a financial stability assessment tool (definition of current financial stability and modified balance model), and a value-based management model toolkit «VBM–EVA–BSC»). It has been shown that the most popular approach to diagnosing the financial safety of a company in practice is the coefficient method, which includes estimation and analysis of key financial indicators: profitability, business activity, solvency, and financial stability.On the basis of the coefficient model, a diagnosis was made of the level of financial safety of the leading domestic vegetable oil-extraction companies. The consolidation of the results made it possible to develop a matrix of strategic financial position of the internal financial environment of oil-extraction companies. On the basis of the trends and prospects for further development of the oil-and-fat industry of Ukraine, a matrix of the strategic financial position of the external financial environment for the companies studied has been developed, which determines their development possibilities and potential threats. The combination of the two matrices of strategic financial position of oil-extractions companies has led to the development of a matrix of possible strategic directions for their financial development, with the identification of the desired financial strategy within the framework of the desired level of financial security.
Highlights
Ukraine ranks first in the world in the production of sunflowers, covering one-third of the world market
In the author’s view, the third approach is the most appropriate one, and it is advisable to use methodological approaches to diagnose the level of financial safety of domestic oil-extraction companies, which will make it possible to define the position of companies in the matrix of strategic financial position and to develop a matrix of possible strategic directions of financial development of companies in the oil-and-fat industry
The scientific novelty of the article consists in the formation of a scientific and methodological approach, which allows to assess the financial security level of companies according to the classical coefficient model, and to develop, on this basis, strategic financial position matrices and to propose possible strategies for their further financial development
Summary
Ukraine ranks first in the world in the production of sunflowers, covering one-third of the world market. There is no doubt that the problem of ensuring the financial security of oil-extraction companies has become a matter of extreme urgency in recent years. This is due to the financial crises and the unstable financial and economic situation in the country and to the constant variation in energy prices and the high dependence on agriculture, which is seasonally based environmental, climatic and biological factors; high resource intensity of the industry; export-commodity orientation, which makes external market positions unstable, as demand for commodities is volatile and subject to high price volatility; increasing the cost of banking services, etc
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