+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Digest Finance
 

From Assessment of Organization's Financial Standing to Integrated Methodology for Analysis of Sustainable Development

Vol. 22, Iss. 2, JUNE 2017

PDF  Article PDF Version

Received: 16 November 2016

Received in revised form: 22 November 2016

Accepted: 1 December 2016

Available online: 15 June 2017

Subject Heading: FINANCE OF ORGANIZATIONS

JEL Classification: O12, Q01

Pages: 123-143

https://doi.org/10.24891/df.22.2.123

Endovitskii D.A. Voronezh State University, Voronezh, Russian Federation
eda@vsu.ru

Lyubushin N.P. Voronezh State University, Voronezh, Russian Federation
lubushinnp@mail.ru

Babicheva N.E. Voronezh State University, Voronezh, Russian Federation
sigaeva@mail.ru

Kupryushina O.M. Voronezh State University, Voronezh, Russian Federation
olgakupryushina@umc.vsu.ru

Importance The issue of sustainable development and sustainable growth of social product has been discussed by the international professional community since the second half of the 20th century. Nowadays, there is a need to develop key indicators characterizing both financial standing and sustainable development of organizations, and a methodology for their assessment.
Objectives The aim of the study is to review the problems related to the assessment of financial condition and analysis of sustainable development of organizations.
Methods The study draws upon general scientific principles and research methods, namely, analysis and synthesis, induction and deduction, grouping, comparison, abstraction, generalization, analogy, and modeling.
Results Sustainable development can be viewed as a process and as a state. As a process, the sustainable development of the organization has a time period, during which its characteristics change. The principal characteristic is a relative share of intensive factors in the revenue for the considered type of resources. It served as a classification criterion for evaluation of processes according to the golden ratio principle. We identify absolute, stable, unstable, and crisis types of sustainable development.
Conclusions and Relevance The analysis of organizations' operations is impeded by the lack of legal framework and available averaged values of indicators characterizing the financial condition by type of economic activity. It is important to develop analytical procedures that measure all types of capital of integrated reporting, the interactions between them, and the value of the entire business.

Keywords: resource, intensive factor, financial standing, sustainable development, integrated reporting

References:

  1. Shershenevich G.F. Uchenie o nesostoyatel'nosti [The doctrine of insolvency]. Moscow, Kniga po trebovaniyu Publ., 2012, 472 p.
  2. Zwißler F., Okhan E., Westkämper E. Lean and Proactive Liquidity Management for SMEs. Procedia CIRP, 2013, vol. 7, pp. 604–609. doi: 10.1016/j.procir.2013.06.040
  3. Kovan S. [Analysis of financial condition and balance sheet structure of organizations on the basis of guidelines of the Federal Service of Russia for Financial Recovery and Bankruptcy]. Vestnik FSFO Rossii = Bulletin of Federal Service of Russia for Financial Recovery and Bankruptcy, 2001, no. 4, pp. 22–25. (In Russ.)
  4. Endovitskii D.A., Babushkin V.A., Baturina N.A. et al. Analiz investitsionnoi privlekatel'nosti organizatsii [Analysis of investment appeal of the organization]. Moscow, KnoRus Publ., 2010, 376 p.
  5. Gilyarovskaya L.T., Vekhoreva A.A. Analiz i otsenka finansovoi ustoichivosti kommercheskogo predpriyatiya [Analysis and assessment of financial soundness of commercial enterprises]. St. Petersburg, Piter Publ., 2003, 256 p.
  6. Bernstein L.A. Analiz finansovoi otchetnosti [Financial Statement Analysis. Theory, Application, and Interpretation]. Moscow, Finansy i Statistika Publ., 2002, 621 p.
  7. Kat'kalo V.S. [A resource-based concept of strategic management: Genesis of basic ideas and notions]. Vestnik Sankt-Peterburgskogo universiteta. Ser. 8: Menedzhment = Vestnik of Saint-Petersburg University. Series 8: Management, 2002, vol. 4, pp. 20–42. (In Russ.)
  8. Kleiner G.B. [A resource-based theory of system organization of economy]. Rossiiskii zhurnal menedzhmenta = Russian Management Journal, 2011, vol. 9, no. 3, pp. 3–28. (In Russ.)
  9. Penrose E., Pitelis C. The Theory of the Growth of the Firm. Oxford University Press, 2009, 304 p.
  10. Wernerfelt B. A Resource-Based View of the Firm. Strategic Management Journal, 1984, vol. 5, no. 2, pp. 171–180. doi: 10.1002/smj.4250050207
  11. Rumelt R.P. Theory, Strategy, and Entrepreneurship. In: David Teece (ed.) The Competitive Challenge: Strategies for Industrial Innovation and Renewal. Cambridge, Mass., Ballinger Pub. Co., 1987, pp. 137–158.
  12. Teece D.J., Pisano G., Shuen A. Firm Capabilities, Resources, and the Concept of Strategy: Four Paradigms of Strategic Management. U.C. Berkeley, Center for Research in Management. Consortium on Competitiveness and Cooperation Working Paper, 1990, vol. 90, no. 8, 64 p.
  13. Barney J.B. Firm Resources and Sustained Competitive Advantage. Journal of Management, 1991, vol. 17, no. 1, pp. 99–120. doi: 10.1016/j.sbspro.2015.01.021
  14. Peteraf M.A. The Cornerstones of Competitive Advantage: A Resource-Based View. Strategic Management Journal, 1993, vol. 14, no. 3, pp. 179–191. doi: 10.1002/smj.4250140303
  15. Conner K.R., Prahalad C.K. A Resource-Based Theory of the Firm: Knowledge versus Opportunism. Organization Science, 1996, vol. 7, iss. 5, pp. 477–501. doi: Link
  16. Kleiner G.B. [The State – Region – Industry – Enterprise: The frame of systemic stability of the Russian economy. Part 1]. Ekonomika regiona = Economy of Region, 2015, no. 2, pp. 50–58. (In Russ.) doi: 10.17059/2015-2-4
  17. Petukhov R.M. Otsenka effektivnosti promyshlennogo proizvodstva: metody i pokazateli [Evaluating the efficiency of industrial production: Methods and key figures]. Moscow, Ekonomika Publ., 1990, 95 p.
  18. Prangishvili I.V. Sistemnyi podkhod i povyshenie effektivnosti upravleniya [Systems approach and improvement of management efficiency]. Moscow, Nauka Publ., 2005, 422 p.
  19. Soroko E.M. Zolotye secheniya, protsessy samoorganizatsii i evolyutsii sistem: vvedenie v obshchuyu teoriyu garmonii sistem [The Golden section, processes of self-organization and evolution of systems: Introduction to the general theory of system harmony]. Moscow, LIBROKOM Publ., 2012, 264 p.
  20. Arnold V.I. Teoriya katastrof [Catastrophism]. Moscow, Nauka Publ., 1990, 128 p.
  21. Zhirmunskii A.V., Kuz'min A.V. Kriticheskie urovni v razvitii prirodnykh sistem [Critical levels in the development of natural systems]. Leningrad, Nauka Publ., 1990, 223 p.
  22. Bushuev V.V. Energeticheskii potentsial i ustoichivoe razvitie [Energy potential and sustainable development]. Moscow, Energiya Publ., 2006, 320 p.
  23. Babicheva N.E. Teoretiko-metodologicheskie osnovy ekonomicheskogo analiza razvitiya organizatsii na osnove resursnogo podkhoda: monografiya [Theoretical and methodological framework for economic analysis of organizations' development based on the resource approach: a monograph]. Moscow, ID FINANSY i KREDIT Publ., 2012, 256 p.
  24. Pecchei A. Chelovecheskie kachestva [Human Qualities]. Moscow, Progress Publ., 1985, 312 p.
  25. Marfenin N.N. Rossiya v okruzhayushchem mire: 2002 [Russia in the outside world: 2002]. Moscow, IIUEPS Academy Publ., 2002, 336 p.
  26. Danilov-Danil'yan V.I. [Sustainable development (a theoretical-methodological analysis)]. Ekonomika i matematicheskie metody = Economics and Mathematical Methods, 2003, vol. 39, no. 2, pp. 123–135. (In Russ.)
  27. Uskova T.V. Upravlenie ustoichivym razvitiem regiona [Managing the sustainable development of the region]. Vologda, ISEDT RAS Publ., 2009, 355 p.
  28. Cornescu V., Adam R. Considerations Regarding the Role of Indicators Used in the Analysis and Assessment of Sustainable Development in the E.U. Procedia Economics and Finance, 2014, vol. 8, pp. 10–16. doi: 10.1016/S2212-5671(14)00056-2
  29. Dvořáková L., Zborková J. Integration of Sustainable Development at Enterprise Level. Procedia Engineering, 2014, vol. 69, pp. 686–695. doi: 10.1016/j.proeng.2014.03.043

View all articles of issue

 

ISSN 2311-9438 (Online)
ISSN 2073-8005 (Print)

Journal current issue

Vol. 29, Iss. 1
March 2024

Archive