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- Impact of Financial Support on Textile Enterprises’ DevelopmentPublication . Бойченко, Катерина; Mata, Mário Nuno; Mata, Pedro; Martins, Jessica NunesThe purpose of this study is to determine the mutual influence of financial security on the textile enterprises development level. The proposed methodological approach is based on the formation of an integrated financial security indicator and its regression model. The study is based on 16 textile enterprises in the European Union. Integral indicators on capital structure, current financing sufficiency and financial efficiency of the investigated enterprises have been defined according to the rapid diagnostics of financial provision of the textile enterprises. The state of financial support for the studied companies’ development has been evaluated. It has been established that the development of textile enterprises depends to a large extent on their financial support as a whole. The change in the development level of companies depends substantially on the change in the integrated indicator of their financial provision. In particular, textile enterprises’ development is significantly affected by the capital structure and the predominance of equity in it, as well as current financing. The financial efficiency factors taken into account do not have a significant impact on the development of textile enterprises. This study proposes a financial security model, developed by partial integrated indicators. It enables visual comparison, collation of the capital structure state, current financing and financial efficiency of the studied enterprises with optimal value
- Towards Financing System of Integrated Enterprise Development in the Time of COVID-19 OutbreakPublication . Бойченко, Катерина; Gherghina, Ştefan Cristian; Abreu, António; Mata, Mário Nuno; Moleiro Martins, JoséThe development of an enterprise under current conditions requires an integrated approach and an appropriate financing system. The purpose of this study is to justify the replication model of financing the integrated enterprise development. The research methodology suggests that each enterprise has its own development “genome”, which makes it possible to apply the replication of its directions based on a justified financing system of such an integration. The proposed replication model is augmented by regression analysis, which made it possible to carry out scenario forecasting of alternative options for the company’s development. The conduction of the study is based on 16 textile enterprises. The formed map of the integrated enterprise development enabled the determination of their points to replicate resources in four directions (environmental and economic, innovative, informational, and organizational). The interaction of companies on the basis of strengths diffusion (exchange of potential) with the application of financial netting is considered an alternative to replication. The research proved that an alternative option can solely be recommended for developed companies and requires the identification and minimization of risks. The strong link between the level of integrated and overall development of companies was acknowledged. Asymmetry of business development in the context of a replication model of its integration enables the achievement of high results while minimizing financial resources. Enterprises implementing the replication model of integration considerably improve their prospects and increase overall development performance. The application of the replication model of financing integration under the crisis and the COVID-19 pandemic fosters efficient use of financial resources and the overall enterprise development.