Transformations in corporate business financing in conditions of instability (fundamental research)

Terms of execution: 01.01.2022 – 30.06.2023

State Registration No. 0121U112770

Supervisor – Dr. Sci (Econom) V. Zymovets

Customer – National Academy of Sciences of Ukraine

Object of research – finances of enterprises of the sector of non-financial corporations of Ukraine

The objective of the study – business financing in the conditions of war and post-war economic recovery

The purpose of the research the

• development of scientific and practical approaches to the assessment of the impact of macro-financial instability on business access to capital
• systematization of key transformations in the financing of corporate business
• determination of their impact on the balance of the country's financial system in wartime conditions
• development of practical recommendations for expanding business access to financing in the post-war period

Research methods

• systematic
• comparative
• structural and functional analysis
• statistical comparisons

The conducted research covers the solution of tasks related to

• generalization of scientific and practical approaches regarding the assessment of the impact of instability on the conditions and forms of business financing in wartime conditions
• determining the level of vulnerability of corporate business finances to instability, taking into account the peculiarities of the institutional environment
• determination of the impact of transformations in the financing of corporate business on the sectoral structure of the financial system
• research on transformations in the financing of large, medium, small and micro businesses in conditions of instability
• determination of the main factors that affect the capital structure of corporate business in the conditions of war
• research of foreign and domestic practice of state policy in the field of financing post-war business recovery
• scientific and practical approaches have been developed to assess the impact of macro-financial instability on business access to capital in wartime conditions
• determined the vulnerability of business to systematic and idiosyncratic risks during war
• a toolkit for assessing direct business losses from the war was developed
• the priority tasks of state policy in the field of business financing are determined

Based on the research results, two research papers – "Transformations in the financing of corporate business in conditions of instability" and "Finances of Ukrainian enterprises during the war and the tasks of their post-war reconstruction" were prepared