CAPITALIZATION OF AGRICULTURAL COMPANIES IN CONDITIONS OF MACROECONOMIC INSTABILITY

Abstract

The article examines the peculiarities of capitalization management of agro-industrial companies in conditions of instability. The capitalization of agro-industrial companies has its own characteristics compared to other sectors of the economy due to the specifics of the activity, market conditions and regulatory environment. It was established that the following are the main features of the industry's functioning: seasonality and natural risk, quality and volume of land resources; introduction of innovative technologies into production processes; development and change of global markets; the social aspect of the impact on the capitalization of agricultural companies is manifested in the limitation of subsidies and support programs for the agricultural sector, employment problems in rural areas. The factors influencing the formation of capitalization of agro-industrial companies are singled out. The peculiarities of the functioning of the industry, which affect the development and competitiveness of enterprises, are highlighted. An analytical study of the state of capitalization of agro-industrial companies of Ukraine during the period of military aggression showed that most enterprises achieved positive dynamics of the level of capitalization. At the same time, the decrease in the level of capitalization of large agro-industrial companies is associated with: high risks of activity, which are caused by the security situation, since part of the production capacities of agro-industrial enterprises is located in regions where there were or are still active hostilities; the complexity of logistical supplies; loss of part of the harvest due to the impossibility of carrying out a full-fledged production process. As a result of the study, it was proved that the capitalization of large agro-industrial companies has both positive and negative consequences. The positive aspects include the development of the industry, the attraction of innovations, the development of the export potential of the state, the provision of budget revenues, the creation of jobs, and the provision of food security. The negative aspects include the threat of monopolization of the industry and land resources, which reduces the level of competitiveness, complicates the development of small businesses, and also negatively affects the functioning of rural areas. On the basis of theoretical studies, the main directions of increasing the capitalization of agro-industrial companies were formed.