MEASUREMENT OF THE LEVEL OF ECONOMIC SECURITY OF ENTERPRISES BY THE INDICATOR OF THE ATTRACTIVENESS FOR HOSTILE TAKEOVERS

Abstract

The article deals with the assessment of economic security by a number of factors that reflect the probability of proxy battle. In recent decades, the number of such acquisitions in Ukraine has increased significantly, which seriously reduces the level of economic security of economic entities both at the microeconomic level, and at the level of sectors of the economy, as well as the entire economic system of the country. The purpose of the study was to determine the possible impact on the economic security of the enterprise (which is proposed to be determined by a multifactor indicator of the attractiveness of enterprises for raiders) factors of financial stability, reputation, business model efficiency and attractiveness to potential buyers. The methods used in the study are as follows: generalization, grouping, systematization, and content analysis (to identify factors that could potentially signal the threat of a hostile acquisition); correlation and regression analysis (to determine from the totality of factors that have the greatest impact on economic security), the method of theoretical generalization (to identify the approaches of various scholars and scientific schools to issues of economic security and raiding); comparative (to determine the state of economic security of the enterprises under study in different years). As a result, the authors propose an integral indicator of the economic security of the enterprise, which makes it possible to identify the potential attractiveness of the enterprise for raiders. It consists of the following components: profitability (determines the effectiveness of the business model), autonomy ratio (determines the financial stability), ownership of real estate in the city center (resale), reputation (delays in fulfilling contractual obligations). Content analysis of economic security factors of enterprises was conducted according to the data on the raiding seizures of Ukrainian enterprises of all industries and activities, and the Economic Security Indicator was created on the basis of materials of Ukrainian construction companies. However, the methodological approach proposed in the article can be used to identify threats to the loss of economic security by enterprises of any sector of the economy, subject to the adaptation of the model to industry specifics. The use of the created indicator cannot replace the full-fledged system of monitoring the economic security of the enterprise and identifying threats to further activities, but it can be used as an indicator of express-diagnostics of economic security of the enterprise and making decisions on in-depth study of economic security to identify adverse factors delight.