STRATEGIC FOUNDATIONS OF FINANCIAL MANAGEMENT OF TRANSNATIONAL CORPORATIONS IN THE CONTEXT OF GLOBALIZATION PROCESSES WITH CONSIDERATION OF PROJECT FINANCING MECHANISMS

Abstract

The article substantiates the strategic principles of financial management of transnational corporations in the context of strengthening globalization processes and increasing volatility of global financial markets. It is demonstrated that the growing complexity of international operations necessitates the integration of project financing mechanisms into the corporate management system in order to enhance investment efficiency and minimize risks. It is established that contemporary financial strategies of transnational corporations are oriented toward achieving a balance between profitability, financial stability, and adaptability to external influences, which is ensured through investment diversification and consideration of socio-economic and environmental factors of development. It is substantiated that the combination of strategic planning with project financing instruments contributes to the effective structuring of investment resources in accordance with sectoral and regional specifics, as well as ensures risk localization and increased transparency of financial flows. It is determined that the key risks faced by TNCs include currency, tax, and investment risks, which require the application of comprehensive risk management tools, including hedging and the use of derivative financial instruments. It is proven that the digitalization of financial processes and the implementation of information and analytical systems enhance the speed of managerial decision-making and the accuracy of financial forecasting. Based on empirical analysis, a slowdown in global investment activity is identified, manifested in a decrease in the value of investment projects alongside a simultaneous increase in their number, indicating a shift of transnational corporations toward less capital-intensive and more flexible forms of investment. Structural changes in the sectoral distribution of investments are revealed in favor of innovation-oriented industries, particularly the information and communication sector and high-tech manufacturing. The impact of macroeconomic indicators on the investment behavior of transnational corporations is examined, confirming increased investor caution under conditions of heightened uncertainty. The expediency of combining capital budgeting with project financing mechanisms and the involvement of international financial institutions is demonstrated, ensuring optimization of capital structure and risk allocation. It is generalized that the integration of project financing into the financial strategies of transnational corporations creates prerequisites for enhancing the efficiency of investment activity and ensuring their long-term sustainable development in the global economic environment.