Global Experience in Financial Management of Companies: Stakeholders which Increase its Efficiency

Abstract

An efficient financial management system is a significant foundation and one of the major conditions for ensuring the profitability and cost-effectiveness of any business. The article is aimed at reviewing the global experience of financial management of companies and identifying stakeholders and their interests in improving the efficiency of financial management. Based on a review of a number of aspects of the global experience of financial management of companies, factors that influence the profitability of different business directions in countries are outlined; stakeholders and their interests in improving the financial management of companies are defined; the global practice of growth points for financial resources and the economic potential of companies is considered; also considered are the models, methods and instruments, using which the global business provides growth of performance and efficiency of financial management of companies. Taking into account the global experience of financial management in companies, generalizations and conclusions have been drawn that both internal and external (micro and macro-economic) factors are important for improving the profitability of the business. A wide range of stakeholders are interested in improving the efficiency of financial management of companies, as the company’s functioning is interconnected with a person, employees, citizens, groups of people, the population, the national authority structures, governments of different countries of the world economy, society, etc., taking into account their own interests. The topical direction of further research is to study the interests of stakeholders of the efficient financial management of companies with the determination of their weight and performance parameters.

Keywords

• financial management
• stakeholders
• interests
• efficiency
• factors