The paper is devoted to summarizing the experience of forming sources of funding in emerging markets and analyzing the efficiency of capital use using the example of agricultural enterprises in the South of Russia. The literature review covers studies revealing the determinants of the formation of sources of capital funding in both developed and emerging markets. It is noted that the features of the establishment of business structures and the country’s financial system are factors in the choice of hierarchy theory by the management of companies in the formation of capital structure. A study of the impact of the weighted average cost of capital on return on assets was carried out using the example of agricultural enterprises in the South of Russia. The obtained results confirm the developed hypotheses about the negative impact of an increase in the volume of debt financing of agribusiness organizations on the return on assets, as well as about the choice of a conservative agricultural policy by agricultural organizations in forming funding sources. These results are close to the results of applied research on the formation of capital structure in other sectors of the Russian economy.

Innovation risk in banks, a formalized instrument that is part of banks’ financial and innovative strategies, influences the assessment of innovative activity, demonstrating the importance of forecasting and assessment models of potential innovation risks. Our research into general scientific and specific methods allowed us to: (1) distinguish hierarchical concepts and their order—namely, “banking innovation”, “economic effects of innovational activities”, “financial and innovative strategy”, and “innovation risk”; (2) identify links between innovative and strategic bank management, since bank innovations are carried out in conjunction with strategies and imply positive strategic economic effects, making the assessment of potential innovation risk necessary for the current moment and the future; (3) note that the launching and use of new technologies on economic cycles and phases involving a necessary correlation between innovative profit and these phases; (4) provide preferable measurements of banks’ innovative activity and financial performance against commission income; (5) assess the potential financial performance of banks’ financial and innovative strategies within economic cycles and phases and in accordance with the nature of income; (6) present general areas for the practical application of an adapted data mining–Monte Carlo method, based on a proprietary software product. The model’s application in the “open innovation” system exhibits its multipurpose nature and allows for the selection of alternative strategic innovative solutions within economic cycle phases. It also serves in the promotion of Big Data technology in relation to finance and innovation, which is a promising area, and determines the values of the desired indicators for the “bank of the future” concept.

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The article is devoted to the study of the impact of transparency on the formation of funding sources, by the example of a construction industry enterprise. The literature review covers studies revealing the concept of transparency as an initial condition for creating an environment in which there is complete, reliable and open information for taking various decisions. The issue of creating a trusted environment is particularly sharp when taking funding decisions, since, for the funding party, information transparency is a risk factor influencing efficiency of funding. Generalization of the available studies has shown a special significance of such studies for subjects of the construction industry, which have distinctive funding source choice industry features. The study was conducted on a selection of construction companies of Russia. The results of the study showed that transparency has a significant impact on the ability to attract funding, especially on a long-term basis. Achieving optimal transparency allows not only increasing debt sources of financing, but also optimizing their structure due to high confidence on the part of capital suppliers. Besides, a dependence of transparency and resistance of a company to external factors is revealed, i.e., financial stability of financially transparent companies is maintained in the long-term perspective.

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