Bìznes Inform (May 2020)
Assessing the Influence of Industry Factors on the Financial Results of Industrial Enterprises
Abstract
The carried out research is aimed at identifying the industry factors that have the greatest impact on the formation of financial results of industrial enterprises, providing quantification of the strength of their influence and allocating the most significant among them. The relevance of this applied study consists therein that managing the formation of the necessary size of financial results as an internal financial source for the innovative development of enterprises in different industries requires a clear understanding of the power of influence of different groups of factors (at macro, meso- and micro-levels). The article provides the results of a correlation analysis of the strength of relationship between the main indicators of financial performance of enterprises of different industries and groups of indicators, characterizing: the volume of activity of the relevant industry; the achieved level of concentration of production; the organic and financial capital structure; status and efficiency of resource use. For the multiple correlation analysis, information was considered on 27 positions of industries, which coincide with the classification of the State Statistics Service of Ukraine. The calculations were carried out separately for years between 2016 and 2018. and additionally for 2012, which allowed to define sustainability of the identified relationships. The results of the carried out research show that today the most influential factors are the competitive structure and the level of concentration of production in different industries. The financial structure of capital and the type of asset financing policy are also significantly influential. There is a high strength of relationship in the capital-labor ratio. At the same time, the correlation analysis did not prove a relationship with indicators, which characterize efficiency in the use of resources. The need for further research into the influence of the intra-industrial factors on the formation of financial results of industrial enterprises is substantiated.
Keywords
