Modeling of Financial and Economic Security of Transport Enterprises Based on Factor Analysis

Abstract

Purpose. Financial and economic security defines sustainable financial development of the enterprise, that is balanced and sustained, it justifies the necessity to achieve it through the effective use of all kinds of resources that are available at the enterprise. The purpose of the article is to improve the methodical estimation bases of the financial and economic security state at the transport enterprises, taking into account sector specificity for making the effective management decisions. Methodology. Theoretical and methodical basis of the research is in the systematic analysis of the process of assessing and modeling of the financial and economic security of enterprises in transport sector, theoretical principles of economic science in the sphere of financial efficiency evaluation of economic activities in a changing environment. Findings. The structure of the financial and economic security of the enterprises in transport industry was studied. The internal communication between the partial indicators of the investigated process for selection of necessary and sufficient quantities of the most indicative factors of influence were defined. Partial components of the financial and economic security based on the results of its modeling formation at the transport enterprises using factor analysis methods were systematized. Originality. Authors improved the methodological basis of quantitative evaluation of the financial and economic security level at the transport enterprises on the basis of the aggregate partial indicators, which was formed with industry specificity. This allows evaluating complex estimation of the degree of external and internal factors influence on the financial and economic security at the enterprises to ensure the effective management decisions making in order to achieve planned financial performance indicators of their activity. Practical value. Certain trends of forming ability of the transport companies to protect their financial interests are common for the studied objects. They explain 72% of the total variability of partial characteristics and reflect the modern process features of financial management and economic security. This justifies practical use expediency of the formed aggregate of the partial indicators of the financial and economic security as the basic parameters of the integrated assessment of its state at the transport industry enterprises for providing timely detection and prevention possible threats of company functioning in the financial environment.

Dentification the Ways of Counteraction of the Threats to the Financial Security of High-Tech Enterprises

“…The mechanism we have proposed is different because it takes into account threats that affect the financial activities of the enterprise more and may be part of the overall enterprise management system. Not least interesting is the study of Novikov and Novikova (2014), who presented their approach, which allows, through a group of indicators and factor analysis, determine the main external and internal factors and the type of their influence on the financial security of the enterprise. Developing such ideas, we propose to concentrate precisely on the negative impact of external and internal threats on the financial security of the enterprise in order to find ways to counter it.…”

Anti-Crisis Personnel Management in the Process of Ensuring the Economic Security of the Enterprise

“…Also, the contributions of Brovkina (2015), Nikitina (2011), Ianioglo and Polajeva (2017), Novikov and Novikova (2014) and Zwolak (2017) in the development of enterprise economic security.…”

Development of method of multifactor classification of transport and logistic processes

“…Theoretical and methodological fundamentals of factor analysis of competitiveness of international motor freight are generalized and scientists' views concerning classification of the factors influencing development of international motor freight are analyzed in [13]. Improvement of methodological bases for assessing the state of financial and economic security of haulers taking into account the sector specifics on the basis of its modeling by factor analysis was set forth in [14].…”

“…It follows from (14) that the eigenvector, w, can be calculated to a constant directly from the elements of the matrix A. Define the constant C, proceeding from the natural requirement to normalization of the vector, w, in accordance with which the following condition shall be met:…”

“…up the left and right members of correlation(14) by i. Taking into account(15), the following is obtained:…”