№ 12/2015

Fìnansi Ukr. 2015 (12): 48–62

PUBLIC FINANCE MANAGEMENT

GASANOV Sergіi ¹, IVANYTSKA Olga ², KOSHCHUK Tetiana ³

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-7454-0419
²National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”
OrcID ID : https://orcid.org/0000-0001-5505-8849
³SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0003-1013-4603

Directions of financial stability improvement of state-owned enterprises in Ukraine

The article is dedicated to identification of ways to ensure the stability of state-owned enterprises in Ukraine. It is analyzed the national and international documents, as well as an experience of European countries in enhancing the efficiency of financial management and ensuring the financial sustainability of the state-owned enterprises. A number of mechanisms for achieving the transparency and accountability of public sector enterprises, formation of the system of their activities’ assessment and reformation of approaches to the public administration system to ensure the stabilization of finance of state-owned enterprises are proposed. In particular, it is found that increasing the financial sustainability of state-owned enterprises in Ukraine is possible under such conditions, as: formation of high-quality databases to assess and monitor state-owned enterprises’ financial statement; development of methods of assessment of state-owned enterprises’ financial sustainability on the basis of the IMF and other international organizations’ recommendations; continuous monitoring of operations and financial statement of state-owned enterprises by sectors and activities, in regards of belonging to certain regions and territories; publishing the agreed list of indicators of the largest state-owned enterprises; corporatization of some unitary state-owned enterprises; the use of new organizational forms of public property rights management; restructuring a number of state-owned enterprises; strengthening the requirements to ensure the efficiency of budgetary funds expenditures, which aim to support enterprises of the public sector; development of methodology for assessing the fiscal risks associated with activities of state-owned enterprises; application of a deliberate approach to the privatization of state property.

Keywords:state-owned enterprises, public finance, finance of state-owned enterprises, privatization, financial soundness indicators, management of state property, fiscal risks.

JEL: D24, D81, H82

Gasanov S. . Directions of financial stability improvement of state-owned enterprises in Ukraine / S. . Gasanov, O. . IVANYTSKA, T. . Koshchuk // Фінанси України. - 2015. - № 12. - C. 48-62.

Article original in Ukrainian (pp. 48 - 62)

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