| Article |
|---|
| Article name |
ECONOMIC EFFECT OF MEASURES FOR IMPROVING THE ELEMENTS OF MANAGEMENT OF THE ENERGY ENTERPRISE LIQUIDITY |
| Authors |
Malyshev E.. , Darovskikh K.. , |
| Bibliographic description |
|
| Category |
Economics |
| DOI |
336.63 |
| DOI |
10.21209/2227-9245-2019-25-2-135-147 |
| Article type |
scientific |
| Annotation |
The article reflects the economic effect of measures to improve the liquidity management elements of an energy enterprise. It was noted that, first of all, liquidity management is a part of the overall management of the economy and finances of an enterprise and is an activity aimed at efficiently placing funds in the short term, and ensuring through this timely settlements on current financial obligations of an economic entity. The main elements of the enterprise liquidity management system are highlighted. The need for an optimal liquidity management mechanism was identified, since its absence can lead to an imbalance between the levels of receivables and payables, the ineffective allocation of current assets to inventories and, as a final consequence, a reduction in the efficiency of production and commercial activities. The urgency of improving the liquidity management system at a manufacturing enterprise, namely the energy organization of PAO “TGC-14”, the main activities of which are the production of electrical and thermal energy, is substantiated. The article reflects the nature of the liquidity management system of the above company. The analysis of liquidity and solvency of the energy company, which showed the majority of the deviation from the recommended indicators of all the key parameters of liquidity, is given. Optimal directions of work in the field of liquidity management were determined: formation of a rational monetary policy and acceleration of receivables turnover. Monetary policy and liquidity management are a part of the general financial policy of an economic entity whose key task is to maintain a certain level of free cash. A mechanism for maintaining cash in settlement accounts according to the Baumol-Tobin model was proposed, and it was also tested, using the example of PAO TGC-14. To work with receivables, it is proposed to introduce a system of assignment of claims to a commercial bank – factoring. The scheme of factoring operations is presented on the example of the above organization. The integral economic effect of forecasting the average cash reserve, using the Baumol-Tobin model and financing against the assignment of monetary claims (factoring) is reflected, and the cumulative effect of the measures taken on the absolute liquidity ratio is presented. |
| Key words |
Key words: energy; innovation; economic growth; liquidity; finance; cash; financial policy; solvency; securities; receivables |
| Article information |
Malyshev E., Darovskikh K. Economic effect of measures for improving the elements of management of the energy enterprise liquidity // Transbaikal State University Journal, 2019, vol. 25, no. 2, pp. 135-147 |
| References |
References
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