The asymmetry of the resource configuration and its destructive impact on the capitalization of agribusiness

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Размещено на http://www.allbest.ru/

Tatiana Shestakovska

Annotation

This article explores the theoretical and methodological approaches to determining the asymmetry of the resource configuration and its destructive impact on the capitalization of the agricultural business. The analysis of the current state of the configuration of assets of the entities of an agricultural business has been made. The set of measures for decontamination of the destructive in luence of the resource asymmetry on the capitalization of agribusiness has been proposed in the following fields: the improvement of the organization of logistics; the shortening of the operating cycle through the intensi ication of production; the acceleration of the process of shipping the products and the execution of settlement documents, etc.

Keywords: resource configuration, the capitalization of business, the entities of agribusiness, economic conflicts, the assets of the company.

Анотація

У статті досліджено теоретико-методологічні підходи до визначення асиметрії ресурсної конфігурації та її деструктивний вплив на капіталізацію аграрного бізнесу. Проведено аналіз сучасного стану конфігурації активів суб'єктів аграрного бізнесу. Запропонована сукупність заходів щодо дезактивації деструктивного впливу ресурсної асиметрії на капіталізацію аграрного бізнесу у напрямках: поліпшення організації матеріально-технічного постачання; скорочення тривалості операційного циклу за рахунок інтенсифікації виробництва; прискорення процесу відвантаження продукції і оформлення розрахункових документів тощо.

Ключові слова: ресурсна конфігурація, капіталізація бізнесу, суб'єкти аграрного бізнесу, економічні конфлікти, активи підприємства.

Аннотация

В статье исследованы теоретико-методологические подходы к определению асимметрии ресурсной конфигурации и её деструктивное влияние на капитализацию аграрного бизнеса. Проведен анализ современного состояния конфигурации активов субъектов аграрного бизнеса. Предложена совокупность мероприятий по дезактивации деструктивного влияния ресурсной асимметрии на капитализацию аграрного бизнеса в направлениях: улучшения организации материально-технического снабжения; сокращения продолжительности операционного цикла за счет интенсификации производства; ускорения процесса отгрузки продукции и оформления расчетных документов и т. д.

Ключевые слова: ресурсная конфигурация, капитализация бизнеса, субъекты аграрного бизнеса, экономические конфликты, активы предприятия.

Putting forward the problem. The asymmetry of the resource base in today's realities structural transformation of the domestic agricultural economy does not generate new opportunities used in the strategic development of foreign companies - the leaders of EU agricultural production. The imbalance and lack of economic resources in conditions of crisis and unsustainable development promotes the worsening of economic situation and destroys the potential development of the subjects of agricultural production, prevents build-up of the scale of agricultural production and adversely affects the results of financial security. It is known that Western scientists conceptually consider the asymmetry of resources one of the potential tools of getting more yield at a suf iciently high level of commercial risk in conditions of a volatile economy due to the aggressive nature of the management of the company, the acquisition of additional competencies, the introduction of innovative mechanisms and the use of intellectual resources. In our view, the asymmetry of the resource configuration in terms of the domestic economy should be considered as a sphere of solving economic conflicts that need to optimize and minimize the negative impact on the capitalization of agribusiness. In practical terms, especially in the sphere of using mobile working capital.

As the previous studies have proved [1-10], a blind implementation of international experience in the sphere of using the economic resources of enterprises of agriculture, as well as in other spheres of business, excluding the specific features of operation of agricultural sector leads to contradictory economic performance and has negative consequences, re flected by the financial results during the period of observation.

Therefore, there is an urgent need of optimizing the resource portfolios of the subjects of agrarian business, minimizing structural imbalances, identifying the areas of risks and economic con licts in the application of the alternative models of the resource management, the de inition of the mechanism of adjustment of the regional policy of asymmetrically developed regions of the country.

The analysis of recent research. The problems of asymmetry of the resource configuration are supported in scienti ic discussions by famous foreign and domestic authors. Traditionally in the strategic management while managing the entity of resources we base on the research by M. Kotler and his theory of inequality. asymmetry resource capitalization agricultural

However, in today's realities of the national economic development our scientists prove that the resource inequality which due to M. Kotler, provided competitive entity in the developed markets, today should be considered in conjunction with the strategic objectives of increasing the market value of the business, as a transfer of innovative tools, the effective mechanisms of managing the structural changes of the capital and the acquisition of new skills. Thus, solving the problems of asymmetry of using the resource base by creating and implementing the mechanism of adjustment of the regional policy are offered by prof. B. O Yazluk in his research. In the regional context of solving the strategic tasks of aligning the territorial inequality are also offered by V. V Lahodiyenko [1] Zh. V. Deriy [2] and other authors. These organizational and economic mechanisms of revival of interregional relations of agrarian sphere affect the state of structure of resources of the subjects of agribusiness rather indirectly by reducing the risks of external environment, improving the investment climate and stabilizing the socio-economic sphere, etc. The results of the research made by I. O. Blank, M. Y. Scherbata [3], O. V. Mytyay [4], M. Demianenko [5] in the context of the valuation of the current resources of agricultural enterprises and optimizing the structure of the sources of their inancial support af irm the direct impact and effectiveness of internal mechanisms for optimizing the resource base. The representatives of the scienti ic school of Academician M. Demianenko [5] use the current resources of agribusiness entities as elemental composition of the economic potential, providing correct analysis and monitoring of the inancial condition of enterprises of agricultural production concerning the current challenges of the agrarian economy. This approach, in our opinion, allows to evaluate the volumes of directing the capital in the sphere of production and circulation and prevent its imbalance in the process of functioning of material and financial resources of the subjects of agribusiness.

The scientific research by T. S. Shabatura [6] as for managing the financial component of economic security of the companies demonstrates the need for comprehensive use of resources and cost approaches which makes it possible to increase the market value of the business in terms of its tangible, intangible and latent constituents and strengthen the mechanisms to protecting the financial interests of business owners. The author emphasizes the need of considering the economic and inancial risks in the process of capitalization of the agricultural business in conditions of an unstable economy.

T. O. Kryuchkovska [7] moves the emphasis in the increasing the market value of business entities on cost approaches in order to obtain additional revenue by the owners due to the innovative model of the development agribusiness.

The current research of the Ukrainian scientists is particularly relevant in the period of uncertainty and permanent state of crisis of the domestic agricultural sector in terms of management of resource capabilities as they consider getting revenue by agribusiness entities in relation with the risks of business management. However, within the structural deformation of the assets of enterprises current asymmetry of the resource con iguration of assets and the capital and its destructive impact on the capitalization of the agricultural business are not considered in these studies.

Setting objectives. The aim of the article is to identify the destructive influence of the asymmetry of the resource con iguration on the capitalization of the companies of agricultural production and finding the ways of its neutralizing and controlling.

Presenting the main material. Traditionally, the asymmetry of the economic resources in the context of their individual types and the extent of their accumulation by the autonomous entities of agricultural production is analyzed as an additional source of competitive advantages which on condition of their of optimal configuration, creates new opportunities for additional income. However, in the current practice, the decrease in the capitalization of the agribusiness entities on conditions of equivalent quantity and quality of resources is due to the process of crisis of the area. Thus, the management of the assets as a resource element and the capital as a component of the value and the economic performance in modern multi reality gets focus in the management of the subjects of agribusiness. A heightened con lict requires understanding of the causes of noncompliance between the costs and the economic results and demonstrates the destructive impact on the realization of the economic potential of agribusiness entities, the search of methods and techniques of managing con iguration of the resources in order to reduce the economic con licts and improve the protection of economic interests.

The asymmetry of the resource con iguration is clearly observed in the dynamics of structural changes of the assets and the sources of their inancing the agricultural production entities. Moreover, not only the dynamics of is important changes first of all correspondence in the observation period, of funding sources of the formed volume of the assets according to the scales of agricultural production, their adequacy for maintaining continuous movement and the rhythm of circulation of the capital. As we pointed out, in particular this can be applied to current assets, since, due to the specific of agricultural areas the capitalization of agriculture and economic stability of the entity depend on their mobility. Important in terms of the ef iciency of using the resource portfolios of the subjects of agricultural production are the indicators of the effective use of their economic resources which represent an appropriately balanced ratio of the elemental composition of the assets and the sources of their formation and also the optimal allocation between the production and treatment (Table 1).

The analytical grade of the con igurations of the assets of agribusiness entities indicates current transformation in the nature and structure of the placement of the sources of their formation during the observation period. The proportion of ixed assets is decreasing and the intensive trend of accumulation of resources in the current assets is observed. While in 2011 the ratio of the fixed and current assets were from 43.3 % to56.1 %, in 2015 this ratio was from 35.7 % to 63.02 %. The largest part of the resources remains in receivables (totally about 42.2%) and the share of financial resources allocated to reserves inventory (17.2 %), is increasing.

Table 1. The transformation of Configuration of the assets of agribusiness %