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Financial Performance Assessment of Agrarian Enterprises as a Result of Innovative Resource Development Management


Taras Sus, Iryna Stoianenko, Oksana Penkova, Iryna Zaichko, Liudmyla Bohrinovtseva, Olga Makushok, and Olena Purdenko


Vol. 22  No. 11  pp. 717-726


The main purpose of the study is to improve the methodology for assessing the impact of innovativeness management of resource potential of agricultural enterprises on their financial performance. The methodological basis of the study is the fundamental provisions of the theory of finance and innovation, methods of multivariate analysis, in particular, correlation and multivariate regression analysis, mathematical programming, etc. The parameter of technological progress in the autoregressive multiplicative Tinbergen-Solow production function is derived. The classification of resource potential management of agrarian enterprises in 4 directions: potential of production results, potential of resource availability, potential of performance of resource use, potential of financial condition is proposed. The multivariate model is built, where a net income of Ukrainian agrarian enterprise is taken as an absolute indicator of financial performance (dependent variable) and resource potential indicators are taken as independent variables. We constructed 3 objective functions of maximization: output of agrarian products (Tinbergen-Solow production function), net income (multivariate linear model), return on equity (DuPont model) for short period. The solutions to the above optimization problems allowed us to maximize the return on equity only at the expense of the available innovation potential of production resources and will be used in further research by the authors.


Innovative Development, Production Function, Agricultural Enterprise, Resource Potential, Maximization.