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Managing and optimizing financial resources of companies in the meat processing industry


Author: Gherjavca Svetlana
Degree:doctor of economics
Speciality: 08.00.10 - Finance; Monetary Economics; Credit
Year:2017
Scientific adviser: Ludmila Cobzari
doctor habilitat, professor, Academy of Economic Studies of Moldova
Institution: Moldova State University

Status

Term of presenting of the thesis 22 June, 2017

Abstract

Adobe PDF document0.90 Mb / in romanian

Thesis

CZU 658.15:336.64 (478)

Adobe PDF document 7.74 Mb / in romanian
173 pages


Keywords

finance, management, financial resources, capital, funding sources, financial structure, optimization of financial resources, financial stability

Summary

Thesis structure: introduction, three chapters, conclusions and recommendations, bibliography of 182 titles, 124 pages of main text, including 30 figures, 28 tables, 15 formulas and 24 annexes. Research carried out is reflected in 18 scientific publications.

Field of Study: finance, financial management.

The aim of the research is theoretical and methodological foundation of the directions for optimizing management of financial resources of domestic enterprises.

Research objectives: conceptual study of the management of financial resources; substantiating the role of financial resources and managing of financial resources throughout the enterprise management system; highlighting the peculiarities of the mechanism of formation and use of financial resources in enterprises at different stages of their development; determining the causes of insufficient financial resources in domestic enterprises; analysis of the process of formation and use of financial resources in enterprises with a different organizational form in the meat processing industry; Identifying the conditions of financial equilibrium for enterprises in the meat processing industry in the Republic of Moldova; developing solutions to balance the financial situation and, in particular, to optimize the process of formation and use of financial resources.

Scientific novelty and originality consists of: he development of the concepts of "financial management", "financial resources" and "financial resources management" based on existing research; highlighting the main differences between the notions of financial resources on the one hand and capital, monetary resources and finance on the other hand; identification, adaptation, systematization and argumentation of influence factors on the volume and structure of financial resources at the level of enterprises in order to optimize the process of formation and use of financial resources through the prism of a new classification; proposing a new grouping in the classification of financial indicators by criteria that allow the qualitative and quantitative assessment of management of the financial resources of the enterprise; outlining the role of the working capital indicators and the importance of maintaining the financial balance in creating a rational financial structure; elaboration of the aggregate indicator of the financial balance, which allows determining the positive or negative flow of liquidities and, respectively, the management with maximum efficiency of its determinants; developing the model of predicting the financial balance condition between the financial resources and the directions of their use in order to optimize their management and to avoid insolvency.

Important scientific problem, solved in the research is the scientific and methodological substantiation of the process of financial resources management, as well as formulation of proposals on improving the methods of financial resources management through developing aggregate index of financial stability and model of its prediction in order to optimize the financial flows, as well as to identify the necessary conditions for ensuring the financial balance of the Moldovan meat processing enterprises.

Theoretical and practical value of the thesis are determined by the research and development of the concept of financial resources and financial resources management; determination and classification of the funding sources for each stage of enterprise development; highlighting of the factors of influence on the structure and volume of financial resources, as well as the causes of their insufficiency; development of the prediction model for the financial balance/imbalance, as well as for the cash surplus or deficit in enterprises in the meat processing industry. The results of the study can be used in the training of students at university courses in „Enterprise Finance„ and „Financial Management”, as well as in masters course in the subject disciplines. The applicative value of the thesis is to apply the recommendations developed for a rational formation and use of financial resources within enterprises, including those in the meat processing industry.

Implementation of scientific results: the most important research results have been received and accepted to be implemented by the Ministry of Economics of the Republic of Moldova and the company "Cardiax-Plus" LTD. 7