Abstract
The object of research is the process of evaluating the strategic support of the economic security of the enterprise. It is revealed that one of the effective strategic measures to ensure the economic security of the enterprise is real and long-term financial investment, as well as mergers and acquisitions. It is taken into account that in the conditions of cheapening of assets, the latter become attractive for purchase by larger or economically stable companies. At the same time, such assets may have problems with solvency, profitability and others. In this regard, it is substantiated that an assessment of the feasibility of mergers and acquisitions should be accompanied by a determination of their impact on changes in the level of economic security. It is taken into account that the assessment of the level of economic security is based on determining the shortage of profit before tax. This shortage is characterized by the amount that the company loses due to the failure of certain threshold indicators of economic security. Given the hierarchical structure of such indicators, the shortage of profit is defined as the maximum possible value of the estimated disadvantages of profit for each indicator. It is proved that the effect of mergers and acquisitions, defined in the traditional way, can be achieved, but the effect that manifests itself in increasing the level of economic security is not. It is established that in modern conditions, the criterion for increasing the level of economic security should prevail over others. Methodological approaches to evaluating the feasibility of MaA (Mergers and Acquisitions) transactions have been improved, which, unlike existing ones, take into account the effects of reducing the shortfall in profit before tax and allow to compare the achieved level of economic security, respectively, before and after transactions. An indicator of the economic efficiency of MaA transactions from reducing the shortfall in EBT (Earnings before Tax) profits is proposed.The practical result of this research is the developed methodological approaches to assessing the appropriateness of MaA transactions. Application of the developed concept will allow more correctly assessing the consequences of mergers and acquisitions.
Highlights
The enterprises, setting themselves strategic goals, are implementing appropriate measures to achieve them, obviously. It is similar with economic security: for the formation of the future of any enterprise, it is important that in this future it does not lose the achieved level of economic security, and increases it
The component of the numerator is the sum of two indicators: the shortage of profit before tax (ΔЕВТ) and the underestimated value of the costs necessary to ensure the economic security of various groups of stakeholders
It is revealed that one of the effective strategic measures to ensure the economic security of the enterprise is real and long-term financial investment, as well as mergers and acquisitions
Summary
The enterprises, setting themselves strategic goals, are implementing appropriate measures to achieve them, obviously. It is similar with economic security: for the formation of the future of any enterprise, it is important that in this future it does not lose the achieved level of economic security, and increases it. To this end, safety-free events are differentiated, as a rule, into current and strategic ones. The aforementioned determines the relevance of additional research on strategic areas of ensuring economic security
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