Financial Profitability Research Articles

Commercial Determinants of Health and its influence on trauma care

As the World Health Organization (WHO) states, Commercial determinants of health (CDoH) are the private sector activities that affect people’s health, directly or indirectly, positively or negatively. The private sector influences the social, physical, and cultural environments through business actions and societal engagements. CDoH includes all products and services provided by private entities to gain a financial profit, market strategies, research funding, working conditions, production externalities, and political activities, such as misinformation, lobbying, and donations. Some parts of the private sector also use instrumental, structural, and discursive power to undermine public health policies that threaten profits. Therefore CDoH impacts a wide range of health outcomes, such as non-communicable diseases, communicable diseases and epidemics, injuries on roads and from weapons, violence, and mental health conditions

글로벌 손해보험산업의 성장성과 수익성 및 안정성에 관한 연구

The objective of this paper is to provide a theorectical and empirical frame work to asses the tradeoffs among three fundamental objectives: profitability, growth, and safety in global general insurance indusry (USA, Japan and Korea). Our financial performance analysis relies on panel data of global general insurance industry for the years from 2010 to 2019 by using key financial variables. A quantitative evaluation of three countries genneral insurers' financial growth, profitability and saferty areas is carried out. The financial evaluation is done in the growth, profitability and safety factors including premium and capital increse ratio, underwriting and investment income, leverage and solvency ratio. The results show that there are no key differences among three impact areas: impact of general insurance growth on profitability, profitability on saferty, safety on growth in three countries. Also, the results suggest that the impact of safety on profitability and growth is a positive and significant relationship and emphasize the need to jointly consider growth, profitability, and safety when evaluating general insurers financial performance. Therefore, global general insurance indusry has to strive to strengthen financial soundness through growth and profitability because underwriting profit and growth depend on the level of safety.

FINANCIAL SECURITY OF ENTERPRISES AS A BASIS FOR FORMING THE COUNTRY'S INVESTMENT ATTRACTIVENESS

he main purpose of the article is to research the financial security of enterprises as a basis for the formation of investment attractiveness at the micro and macro levels. The main indicators of the enterprises' financial security are studied as a basic prerequisite for ensuring investment attractiveness and competitiveness of both enterprises and the country as a whole. The trends of the main markers of the economic climate were analyzed and their impact on the main indicators of the Ukrainian enterprises activity was assessed. The dynamics of the main financial ratios of the activity financing structure of Ukrainian enterprises by types of economic activity were studied, taking into account their role in ensuring financial security. An indicative scale for the analysis of the structure of activity financing has been substantiated and a model for assessing the enterprises' financial security level has been developed. A zoning matrix of enterprises' investment attractiveness was developed, taking into account the relationship between financial security levels and profitability. As a result of the approbation of the developed methodological toolkit, the financial security level of Ukrainian enterprises by types of economic activity and the justified zoning of their investment attractiveness in the conditions of expected changes in the economic climate in Ukraine were determined.

ANALISA DAMPAK RASIO KEUANGAN PERBANKAN TERHADAP PROFITABILITAS BANK BERDASARKAN MODAL INTI (KBMI) PADA KELOMPOK BANK DI INDONESIA

This research aims to investigate the analysis of the relationship between banking financial ratios and profitability using the purposive sampling technique in the form of panel data. The research sample was derived from 47 banking sectors listed on the BEI stock exchange from 2013 to 2022, with a total of 470 firm-year observations. The regression method employed was the Ordinary Least Squares (OLS) data panel, and it underwent tests for regression model selection, classical assumptions, robustness, and the Generalized Least Squares (GLS) method. The research findings indicate that CASA is a determining factor for banks in general to enhance Return on Assets (ROA), especially in the small bank group (KBMI 1 and 2). BOPO has been a hindering factor for banks in general to achieve profitability (ROA and ROE) over the past 10 years. In the pre and POST economic crisis of Covid-19, the Loan to Deposit Ratio (LDR) is a hindering factor for banks in general to achieving profitability. Interestingly, as long as the economic crisis, the opposite is true, LDR became a determining factor in increasing profitability, especially in the large bank group (KBMI 3 and 4).

Transforming China’s Tourism Industry: The Impact of Industrial Integration on Quality, Performance, and Productivity

AbstractThe global tourism industry has witnessed significant growth, with China emerging as a powerhouse in this sector. However, China’s tourism faces challenges related to service quality, market organization, technology adoption, and market share loss. To address these issues, there is a growing consensus between the government and the industry to promote high-quality tourism. This paper explores the phenomenon of industrial integration, where boundaries between sectors within the tourism industry blur, leading to the emergence of new collaborative models and novel forms of tourism. While previous research has primarily focused on the economic impacts of such integration, this study delves deeper into its effects on quality development, using empirical data at the enterprise level. The findings reveal that industrial integration has a substantial positive impact on the performance and productivity of Chinese tourism companies. Companies embracing integration strategies exhibit better financial performance, as evidenced by higher returns on equity (ROE) and total factor productivity (TFP). These integrated firms demonstrate improved financial strength, profitability, and overall operational efficiency. Unexpectedly, the study uncovers the significant role of residential tourism consumption in integration rates, highlighting the complex relationship between local demand and industry dynamics. The implications of this research extend to industry leaders and policymakers, advocating for a transformative approach to integrated tourism. It emphasizes the potential of cross-sectoral collaboration, digital technology adoption, talent development, and policy support in enhancing performance and sustainability. The study’s insights empower stakeholders to contribute actively to the future of China’s tourism industry, fostering a holistic and sustainable approach to integration that benefits all stakeholders. This research contributes to a deeper theoretical understanding of integration’s dynamics, enriching the discourse on the interconnected factors driving integrated tourism models.

Financial Performance Evaluation of A Bankrupt Bank: The Case of Silicon Valley Bank

The aim of this research paper is to evaluate and compare the financial performance of Silicon Valley Bank spanning the two-year period prior to its eventual bankruptcy in March 2023, using financial data derived from the former bank’s annual reports. Comparative financial ratio analysis was conducted pertaining to four groups of financial indicators, profitability, capital structure, liquidity and market performance. The results of this analysis reveal a decline in performance in 2022 in comparison with the 2021 business year. The decline coincided with the public emergence of formidable business and market risks for the bank. This study fills a critical gap in the literature by assessing the connection between firm performance and both accounting & market indicators during a time of heightened financial distress, whereas previous studies tended to take a closer look at the relationship between firm performance and one specific class on financial indicator while neglecting the other, equally important class of indicators.

Identifying opportunities and challenges of horticulture production: A case study of Tuong-Mango value chain in the southern Vietnam

This study’s primary objective is to determine the financial repercussions, including expenses, profits, and losses, that certain stakeholders in the Tuong-mango value chain face at various distribution stages. This was achieved through the utilisation of stakeholders cost-benefit value chain analysis. These individuals collectively contributed 849 sample observations to the dataset including 732 farmers, 10 cooperative, 32 collectors, 25 wholesalers, 30 retailers, 12 exporters and processors, and 08 grocery stores/fruit. The robust financial performance of the Tuong-mango value chain is attributable to its integrated economic efficiency, as evidenced by its over USD 1 billion in revenue and USD 98.2 million in net income. The marketing channels, specifically channels 1, 2, and 3, generate a total of USD 906.1 million in revenue, yielding a net profit of USD 81.9 million. The combined sales from domestic marketing channels 4 and 5 total USD 160 million, yielding a net profit of USD 16.2 million. The findings indicate that due to their limited scope and suboptimal grade 1, farmers are the most vulnerable link in the supply chain. This study proposes three strategies for augmenting quality, fostering technological advancement, and facilitating the spread of benefits. This study’s findings contribute to the existing literature on value chain analysis as it pertains to various tropical fruits and vegetables. The study provides empirical evidence supporting the utility of the value chain method in policy formulation.

Paradigmatic Transition: Social Entrepreneurship as a Catalyst for Enhancing the Competitiveness and Sustainability of SMEs in the Digital Business Context

In recent decades, there has been a paradigm shift in how we perceive business. It is no longer solely about profit-making but also about considering the social and environmental impacts of business activities. This research aims to delve deeper into how social entrepreneurship can be implemented in the context of digital business to support the competitiveness and sustainability of SMEs. The research method employed is a qualitative literature review drawing data from Google Scholar within the timeframe of 2020-2024. A qualitative approach is used to understand and analyze various perspectives, theories, research findings, and concepts relevant to the research topic. The study findings indicate that the paradigmatic transition occurring in the business world today reflects the rapid and complex global changes. The evolving digital era has triggered a shift from traditional business paradigms towards more inclusive and sustainable approaches. Social entrepreneurship emerges as a significant catalyst in strengthening the competitiveness and sustainability of micro, small, and medium enterprises (SMEs) in the digital business environment. It is important to understand that social entrepreneurship is not just about seeking financial profit alone but also about advocating for social and environmental change.

Detection of False-Reading in Smart Grid Net-Metering System

Malicious consumers may hack their smart meters (SMs) in the smart grid to report fake readings in order to make unlawful financial profits. Since the reported readings are used for energy management, the utility suffers significant financial losses as a result, and grid performance may suffer as a result. The net metering system, in which one SM is used to report the difference between the power consumed and the power generated, is the subject of this research, which is the first study to look into the issue. First, we process real power consumption and generation information to create a benign dataset for the net-metering system. The data was then examined, and time correlations between the net meter readings and correlations between the measurements and pertinent information from reliable sources, such as temperature, were discovered. Based on the data analysis, we suggest a single-pole double-throw detector to detect erroneous readings. In addition to data from reliable sources, our detector is trained on net meter readings from every customer in order to improve its performance by discovering correlations between them. We also create a relationship between the customer and the grid. Since the only billing system available nowadays is online, this project includes an app that may be used to solve a variety of problems, including electrical outages. Overall, with this, we improve customer and grid communication and simplify their lives.

The analysis of financial position and profitability of agricultural and food manufacturing companies

The analysis of financial position and profitability of companies is usually based on time and space comparison. The financial position is considered as status and relation between assets, liabilities and equity presented in the financial statement known as Balance Sheet. This financial statement is the source of basic financial position indicators such as: liquidity (acid test and current liquidity), financial stability, financial structure, interest coverage and solvency. Financial performance, i.e. profitability can be measured on the basis of Income Statement data, by using the indicators such as: revenues structure, profits (losses) and profitability ratios. In order to analyze financial position and profitability of agricultural and food producing companies in the Republic of Srpska, we have used the balance sheets and income statements of companies registered as legal entities from 2014-2018. The analysis covered 615 companies in average (330 companies in agricultural sector and 285 companies in food industry). Although among agricultural companies there are those who have good financial position, observing the whole sector as one entity, it is obvious that the majority of agricultural producers’ financial position is somewhere between acceptable and weak (acid test – 0.5 in average; financial stability indicator above 1.0; 70% of financial sources relates to debts; solvency - only 1.4 in average). Such, rather unacceptable financial position is also confirmed by profitability indicators which lead to conclusion that the agricultural sector in not successful regarding the ability to provide returns on total assets (ROA is 0% in average during the whole period). However, the returns on equity are a little bit better (ROE from 2-5%), but they can also indicate the low level of equity in large number of agricultural companies. Food industry is in a similar situation relating to the financial position – the financial position of the majority of companies is between acceptable and weak (acid test – 0.6 in average; financial stability indicator – 0.8 in average; 70% of financial sources relates to debts; solvency - only 1.5 in average). However, their profitability indicators are much better than those of agricultural sector. Return on assets (ROA) was from 1-3%, while return on equity (ROE) varied between 7% and 11%. Nevertheless, the variations between individual companies are significant. Therefore some companies have extremely good indicators of financial position and profitability, while the majority of companies are not the position to achieve such results.

Analisis Penerapan PSAK 101 pada Penyajian Laporan Keuangan Koperasi Syariah BMT Itqan

Baitul Maal Wa Tamwil (BMT) is a sharia-based cooperative, so sharia accounting principles must be applied in presenting its financial reports. This principle is based on the Statement of Sharia Financial Accounting Standards (PSAK) No. 101 concerning the Presentation of Sharia Financial Reports. The presentation of financial reports in accordance with PSAK 101 consists of 7 complete financial reporting components, including: balance sheet, profit and loss report, cash flow report, change report equity, reports on sources and utilization of zakat funds, reports on sources of use of charity funds, and notes to financial reports. This research aims to analyze and determine the application of financial report presentation in one of the 1,351 cooperatives in the city of Bandung, namely the BMT itQan Sharia Cooperative. The research method used to research this research is a descriptive research method with a qualitative approach. The techniques used in this research are observation, interviews and documentation using data analysis methods, data reduction, data presentation, as well as conclusions and verification. The results of this research conclude that there are several mandatory financial reports such as the financial position report, profit and loss report and change in equity report that are not in accordance with PSAK 101. For reports on the source and distribution of zakat funds, reports on the source and use of benevolent funds are made separately. in the Baitul Maal division so that it does not become a perfect series of financial report presentations. The cash flow statement is appropriate, and notes to the financial statements have not been made.

Preparation of photoresponsive lanthanide aluminate-immobilized nanofibers from recycled bioplastic via solution blowing spinning for optical authentication labeling

Photochromism is an intriguing technology to enhance the authentication of various commercial materials. In order to produce a transparent authentication film, it is also significant to improve the engineering process of anti-counterfeiting materials. In contrast to electrospinning, the solution blowing spinning (SBS) technique has been recently developed to produce nanofibers at low-cost and high yield with no need to apply high voltage. It has been essential to reduce the toxic pollution caused by plastic waste. Herein, we develop a photoluminescent nanofibrous membrane from recycled polylactic acid (PLA) waste and nanoparticles of strontium aluminate (NSA) by using the simple SBS technique. We investigated the potential use of the NSA@PLA composite nanofibers for photochromic anti-counterfeiting driven by ultraviolet light. Encapsulating the nanoparticle form of the strontium aluminate phosphor into polylactic acid nanofibers is necessary to ensure the transparent characteristic of the nanofibrous film. The film transparency can be further improved by the efficient dispersion of NSA without aggregation in the polylactic acid solution. Nanofibrous membranes with varying emission characteristics were produced by varying the NSA ratio. Both of X-ray diffraction (XRD) and Transmission electron microscopy (TEM) demonstrated the morphology of NSA to show diameters of 5–12 nm. The morphologies of the nanofibrous membranes were examined using various analytical methods, including energy-dispersive X-ray spectroscopy (EDX), X-ray fluorescence spectroscopy (XRF) and scanning electron microscopy (SEM). The mechanical characteristics and optical luminescence were also examined. SEM analysis of the NSA@PLA nanofibers showed diameters of 100–220 nm. The NSA@PLA nanofibrous membranes exhibited an emission peak at 518 nm upon excitation at 365 nm. The contact angles of the NSA@PLA nanofibrous membranes increased from 138.2° to 144.5° as the NSA concentration was increased, indicating an improved superhydrophobicity. Exposure to ultraviolet light caused the transparent nanofibers to undergo a rapid and strongly reversible photochromism to greenish emission. The present study can be reported as an easy and efficient approach to create anti-counterfeiting materials that offer a perfect market with social and financial profits.

Methodology for Modernizing Local Gas-Fired District Heating Systems into a Central District Heating System Using Gas-Fired Cogeneration Engines—A Case Study

Sustainability can be achieved by improving process efficiency, among other methods. In the case of heat supply systems for cities, one of the ways to increase the efficiency of fuel use, and thus reduce resource consumption and greenhouse gas emissions, is the generation of heat and electricity in one process—the use of cogeneration (CHP). The main goal of this paper is to deliver the methodology for a step-by-step modernization process for local gas-fired heating plants through the use of gas cogeneration engines in common central district heating systems. The presented methodology was applied on the basis of a real system located in north-western Poland (case study from Białogard). The profitability of cogeneration was simulated against the background of changing gas prices. The financial and environmental profit from modernization was calculated. The technical requirements that had to be met in order to adapt the existing heating system to cooperation with the new energy source were also presented. The importance of selecting the supply and return temperature of water in the heating system after modernization was emphasized. Based on investment experience, we show that installing a cogeneration engine improves a company’s financial result by 33% (calculated as the difference between the revenue from the sale of energy and the cost of gas only) and is less harmful to the environment, among other benefits, significantly reducing CO2 emissions by 78%.

Macroeconomic trends: a brief statistical analysis of economic indicators for Ecuadorian credit unions

The purpose of this article is to evaluate the financial relevance of the economic sector in the profitability of credit unions. Information from the financial statements of 105 credit unions out of a total of 451 credit unions registered as of 2022 in Ecuador was used. The methodology used involved descriptive and inferential statistical analysis. Normality tests and the Kruskal-Wallis hypothesis test were performed to determine statistical significance in relation to profitability. The results of the descriptive analysis indicated that the financial indicators, such as liquidity, portfolio turnover, indebtedness, and profitability, were favorable for the cooperatives. In the inferential analysis, the profitability indicators complied with the assumptions of normality. In addition, it was found that there were no significant differences between these indicators in relation to the economic sectors. In conclusion, the inferential analysis revealed that financial profitability, which is linked to the investments made, is similar among credit unions, regardless of the economic sector to which they belong.

Supply chain sustainability initiatives at Bajaj Electricals Limited to achieve Zero Waste to Landfill

<p><strong>Subject area:</strong> This case allows management students to engage with the implementation of sustainable supply chain management practices both at the macro and micro levels. The decision to make supply chain operations sustainable is no longer an option for many organisations. The question is not “should we do it? but how can we implement sustainable supply chain management practices?” <strong>Study level/applicability:</strong> This case has been developed for management institutes and schools that teach undergraduate and postgraduate programmes. Sustainability has become an essential module in management curriculums; thus, this case is relevant for management programmes (operations, logistics, supply chain management, business studies, and management). <strong>Case overview:</strong> This case highlights the achievements of Rameshwaram (plant head at the Nirlep factory of Bajaj Electrical Ltd.) and his team for successfully completing a sustainability initiative—Zero Waste to Landfill (ZWTL)—in a short span of six months. This case is divided into two parts: the first part presents their initiatives in making all echelons of their supply chain sustainable; the second part specifically outlines how they achieved Zero Waste to Landfill in one of the manufacturing operations in a short span of six months. A cross-functional team was put together to plan and implement the ZWTL project. Initially, the team encountered many challenges, such as poor quantification of waste at the factory site, inadequate infrastructure for waste segregation, a lack of vendor participation, and extensive training of vendors and employees as needed to ensure project compliance. However, with sustained efforts, the goal was achieved. As a result, BEL became the first Indian company in the sector to achieve 99% diversion from landfills for the waste generated at the Nirlep factory in 2021. It translated into a dramatic reduction of adverse environmental impacts. Monetary benefits were also realized by utilizing the waste for commercial use. As customers across the globe appreciated their efforts, their brand equity increased severalfold. <strong>Expected learning outcomes:</strong> The case establishes that supply chain sustainability initiatives can never be completely successful without the unanimous engagement of internal and external stakeholders. In present times, the foundation of business performance has moved away from financial profitability only to the “triple bottom line,” which incorporates environment and social responsibility. The choice between commercial viability and sustainability is no longer available to the companies, as they need to integrate environmental and social goals within their businesses and provide transparency on sustainable performance and value to not only all stakeholders but also policymakers and consumers.<strong></strong></p>

PENGARUH FINANCIAL DISTRESS DAN PROFITABILITAS TERHADAP ACCOUNTING PRUDENCE PADA PERUSAHAAN SUBSEKTOR KONSTRUKSI BANGUNAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2019-2022

The purpose of this research is to find out the effects of financial distress and profitability on accounting prudence. The population in this research is the whole of the construction and building subsector companies listed on the Indonesian Stock Exchange (IDX) in the period 2019–2022. The data source used is the secondary data of the company’s financial report obtained from the official website of the Indonesian Stock Exchange. The type of research used is quantitative research. The sampling method of this research uses purposive sampling, and based on the criteria that have been determined, 15 companies were selected from 25 over 4 years of research, thus obtaining 60 data observations. The research used multiple regression analysis using the SPSS version 25 application with a significance level of 0.05. Based on the results of the research, financial distress has a positive but not significant effect on accounting prudence. While profitability has a significant negative effect on accounting prudence. Furthermore, financial distress and profitability simultaneously have a significant effect on accounting prudence.

The Impact of Liquidity and Corporate Efficiency on Profitability

This study aims to investigate and determine the trend and extent of the impact of a company's liquidity and efficiency on profitability. Research data is collected on the audited financial statements of Vietnam's top 100 listed companies. Regression models (pooled OLS, FEM, and REM) and necessary tests are used to select the appropriate analysis model. Model defects are overcome by GLS regression. The research results confirm the strong, positive impact of liquidity, company efficiency, and company growth rate on profitability. In addition, the research results also demonstrate a significant negative impact between financial leverage and profitability. This article is the first study to simultaneously address the effects of liquidity and corporate efficiency on profitability. Furthermore, it is the first empirical study applying GLS regression to analyze the impact of liquidity and corporate efficiency on the top 100 listed companies in the Vietnamese market. This market provides an ideal analytical framework because of its heterogeneity in terms of its history of origin and development and its political, cultural, social, and governance characteristics. To make the research results more general, future studies can expand the scope of the survey to all companies listed on the stock market. Doi: 10.28991/ESJ-2024-08-01-013 Full Text: PDF

Bactérias diazotróficas aumentam produtividade e rentabilidade no cultivo orgânico do feijão comum

ABSTRACT The symbiosis of common beans with nitrogen-fixing bacteria provides an efficient approach to sustainable and economical food production. Therefore, this study aimed to evaluate the application of cost-effective nitrogen management strategies in organic common bean cultivation, including the application of poultry manure and organic liquid fertilizer, seed and co-inoculation with diazotrophic bacteria (Azospirillum brasilense and/or Rhizobium tropici), and supplementary Rhizobium tropici inoculation. The study spanned three years in a well-established organic cultivation field (2018) and an initial organic cultivation area (2019 and 2020) in Brazil. It was arranged in a randomized blocks design in a 2 × 5 (2018) and 2 × 6 (2019 and 2020) factorial scheme, with four replicates. The most profitable strategy involves seed inoculation with Azospirillum brasilense and additional inoculation with Rhizobium tropici at stage V4-5 (fifth trifoliate leaf fully expanded), while the most costly strategy was the application of poultry manure at the V3 stage (first trifoliate leaf fully expanded). Thus, the use of diazotrophic bacteria for seed inoculation and co-inoculation (Azospirillum brasilense and/or Rhizobium tropici) ensured financial returns and system profitability in common bean cultivation.

The Influence of Financial Report Quality, Profitability and Tax Avoidance Practices on Business Value Through Financial Performance as a Mediating Variable in Banking Sector Companies

This research analyzes the influence of financial report quality, profitability, tax avoidance practices on financial performance; analyze the influence of financial report quality, profitability, tax avoidance practices on business value; and analyzing financial performance in mediating the relationship between financial report quality, profitability and tax avoidance practices and business value. The research sample was 20 (twenty) financial reports from 6 (six) banking companies listed on the Indonesia Stock Exchange (BEI) for the period 2017 to 2022, namely BNI, BRI, Bank Danamon, BCA, Bank CIMB Niaga and Bank Permata with 79 observations. The data collection technique was showed by accessing the official PT website. Indonesia stock exchange. The data analysis technique is path analysis with correlation and regression techniques. The research results show that the quality of financial reports has no effect on business performance; profitability influences business performance; tax avoidance practices have no effect on business performance; the quality of financial reports has no effect on business value; profitability influences the value of banking companies; tax avoidance practices have no effect on business value; financial performance has no effect on the value of banking companies; financial performance cannot mediate the relationship between financial report quality and business value; financial performance cannot mediate the relationship between profitability and firm value; and between tax avoidance practices and firm value.

МОДЕЛІ ТА МЕТОДИ УПРАВЛІННЯ ЗАЛУЧЕНИМ КАПІТАЛОМ НА ПІДПРИЄМСТВІ

Raised capital is a part of the enterprise's capital, which is formed at the expense of external sources, such as loans, credits, issuance of securities, etc. Raised capital, such as loans, bonds, shares or investments, is an important part of financing a business. It is an important tool for financing the company's activities, but at the same time it is associated with certain risks. Achieving effective management of this capital helps to ensure sustainable operation and growth of the enterprise, ensure financial stability and the ability to pay interest or repay loans on time. A business must determine the optimal mix of financing that meets its needs and constraints. Effective management of capital employed can help a company to be more competitive in the market, as it helps to influence the cost of capital and overall financial profitability. Factors affecting the capital structure include the organizational and legal form of the enterprise, industry specifics of operational activity, the size of the enterprise, the cost of capital, the freedom to choose sources of financing, the state of the capital market and the level of income taxation. Regular determination of capital management efficiency indicators is important for monitoring the current state of its structure. The important issues related to the effective use of loans and other forms of borrowed capital to achieve the company's financial goals are considered in the article. Debt management strategies and tools, optimization of debt service costs, as well as risks associated with the use of borrowed capital were studied.