THE PARADIGM OF FINANCIAL STRATEGY IN CONDITIONS OF UNCERTAINTY
Abstract
The article is devoted to the study of fundamental principles regarding the formation and implementation of a financial strategy in conditions of uncertainty. It was determined that modern research on the theory of financial strategy needs further development as a result of globalization, rapid development of information technologies, economic instability and constantly changing business environment. Therefore, the purpose of the article is to further develop the theoretical foundations and generate a paradigm of financial strategy in conditions of uncertainty. Based on the analysis of scientific sources, key trends in the strategic management of financial resources for business in an unstable environment in the current year have been identified. The theoretical foundations of financial strategy development in conditions of uncertainty are summarized. The theoretical base of the financial strategy in conditions of uncertainty consists of theories and concepts of capital structure, dividend policy, working capital management, investment optimization, principal-agent, dynamic capabilities, real options. The principles of the theory of financial strategy in the conditions of uncertainty are formulated: whole-mindedness, adaptability, balance, stability, innovation, transparency and reporting, integration. The most relevant areas of strategic management of financial resources in conditions of uncertainty have been determined on the basis of the development of proactive adaptive strategies for sustainable development: liquidity management strategies in conditions of uncertainty in order to ensure a sufficient level of solvency in case of unforeseen costs and obligations, the introduction of information technologies in financial management and strategic planning , investment strategies in conditions of high volatility in the markets, management of currency and interest risks in conditions of global uncertainty. The toolkit that allows business entities to cope with uncertainty and minimize financial risks is divided into three groups: analytical, strategic and technological. The main criteria and methodical support for financial strategy quality assessment are presented.
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