Browsing by Author "Ivanova, Maryna"
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Item Managing Economic Security of Metallurgical Enterprises under the Conditions of Transformation Changes in the Economy(Universidad de Almería, La Cañada de San Urbano, Spain, 2021) Ivanova, Maryna; Tiutchenko, Svitlana; Grosheleva, Olena; Fonarova, Tetiana A.; Ryzhkov, EduardENG: The article proposes a method for assessing the level of economic security of metallurgical enterprises by the “pyramid of economic security”. It is based on priority components of economic security, selected for the enterprises under studies, such as the capability of resistance, risk reduction and economic succession, and established indicators of their causal relationships with exogenous and endogenous factors of influence. The assessment results allow differentiating the levels of the enterprise economic security; the practical application of the “pyramid of economic security” will provide a more realistic assessment of the enterprise’s economic security for prompt and effective response to urgent threats and possible risks. The authors have developed a model for assessing the effectiveness of economic security management in enterprises by the rate of changes in the enterprise economic succession; the model is based on the indicators of resource and impact decoupling, financial, social and eco-decoupling.Item Problems of Formation of Financial-Investment Projection of a Balanced Scorecard in Value-Based Enterprises of Mining-Metallurgical Complex(FINTECHALIANCE LLC, 2021) Faizova, Svitlana O.; Ivanova, Maryna; Sannikova, S.; Varyanichenko, O.ENG: The directions of improving the methodical principles of Balanced Scorecard as a system of strategic enterprise management have been highlighted. The need to avoid the simplified mechanistic dividing of the indicators into financial and non-financial ones has been substantiated; the authors have also disputed the corresponding binding of financial indicators mainly to tangible assets and financial strategic prospects, and non-financial indicators — to intangible assets and non-financial projections of the strategy. The criteria of strategic targeting, efficiency and functionality have been defined as key criteria in selecting the BSC metrics. The necessity and the possibility of integration of VBM and BSC concepts, which may be implemented through the company’s financial control panel by using VBM metrics, has been substantiated. The unified criteria for selecting VBM metrics for the financial perspective of BSC (i.e. to take into account the investors’ risk and intangible factors of creating the enterprise’s market value; to be easily calculated and efficient; to provide for cascading and motivation) have been determined and their respective comprehensive assessment has been made. The general structure of the investment-financial perspective on the strategy map of a value-based enterprise of MMC has been developed. One can highlight specific features of the management perspective of a value-based enterprise. Among them:the «investors» projection or the financial-investment projection serves as the starting point of the cascade of a company’s value creation; unlike the amorphous classical BSC, the proposed pattern is clearly subordinated to the main indicator (EV); the financial-investment projection is represented by a limited number of financial, mostly VBM indicators; the balance of traditional and new metrics; unlike the classic BSC technique, the template developed does not imply a mandatory quantitative predominance of non-financial indicators. On the basis of the analysis of interdependence of factors and indicators of the company’s market value (KPIs / CSFs) absence of a linear relationship between financial indicators — tangible assets — current cost factors — on the one hand and non-financial indicators — intangible assets — future value factors — on the other, is defined. The possibility to use financial and non-financial indicators to measure both tangible and intangible assets as sources of market value creation is proved.