Management of productive capital of cognac industry enterprises of Ukraine

Anastasia Yu. Mohylova

Abstract


Substantiated that the structure of capital involved is the determining factor for predicting capitalization Odessa Cognac Factory. For this reason, to ensure capitalization of the enterprise of cognac industry in Ukraine should focus on the management of development and utilization of productive capital, which is based on planting grapes. In the article the new approach to assessing capitalization of enterprise complete cycle of cognac through organizational and economic transformation of the production capital as a resource base for future capitalization.

Focusing on the importance of the sugar content of grapes figure for the volume of alcohol, all calculations are carried out for reasons of ensuring the most collected large amounts of sugar. On this basis concluded that the possible optimization potential distribution area of land under vine particular brand. Given the optimal allocation structure planting grapes for the production of cognac alcohol at Odessa Cognac Factory «Shustov» medium duty sugar harvest grapes can be increased by 3,7%. However, EBITDA increased by 27,8%. Growth of EBITDA ratio can be interpreted as increased capitalization of the test plant. Thus, the redistribution of land area between the grape varieties are output by improving operational performance through better use of the available productive capacity.


Keywords


production capital; enterprise; wine industry; cognac; a full cycle of production; vineyards; EBITDA; EVA

Full Text:

PDF

References


Kirsanova, T. & Koljada, I. (2010). The control system of company's own capital. The Visnyk of the SSU. Economics Series, 2(1), 58-63 [in Ukrainian].

Korzh, R. (2012). Development of the theory of capital structure. Investytsiyi: praktyka ta dosvid, 13, 22-25 [in Ukrainian].

Chyzh, N.M. (2007). Problems of forming an optimal structure of corporations’ own capital. Naukovyy visnyk Volyns'koho natsional'noho universytetu imeni Lesi Ukrayinky, 12, 126-131 [in Ukrainian].

Pilec'ka, S. (2010). Managing capital structure of the enterprise. Visnyk Zaporiz'koho natsional'noho universytetu, 3 (7), 79-84 [in Ukrainian].

Shevchenko, N.V. (2010). Capitalization corporations in the stock market. Thesis for a candidate's degree. Specialty 08.00.08.- money, finance and credit. Lviv: Institute for Regional Research of NAS of Ukraine [in Ukrainian].

Obushhak, T. (2009). Optimizing the capital structure of commercial enterprise. Economic and financial overview, 10, 24-29 [in Ukrainian].

Shpak, N.Z. & Rudnyts'ka, O.M. (2010). The system of money management of enterprise. Scientific bulletin of UNFU, 20.10, 257-261 [in Ukrainian].

Semenov, H.A. & Peleshko, A.V. (2010). Optimizing the capital structure. Derzhava ta rehiony. Seriya: Ekonomika ta pidpryyemnytstvo, 4, 164–170 [in Ukrainian].

Semenov, H.A. & Korol' S.A. (2011). Methods of optimizing the structure of capital. Derzhava ta rehiony, 2, 181-187 [in Ukrainian].

Perederiyenko, N.I. & Lespukh, O.V. (2011). Managing capital structure of printing companies. Technology and Technique of Typography, 1 (31), 179-185 [in Ukrainian].

Hrynkevych, S.S., Saldan, P.I. & Mel'nychenko I.I. (2011). Financial strategy of capital structure of the enterprise management. Scientific bulletin of UNFU, 21.8, 198-204 [in Ukrainian].

Afanas'ev, A.A. & Kravchenko, S.A. (2003). Managing capital structure. Economic and financial overview, 1, 25-28 [in Ukrainian].

Balits'ka, V.V. (2008). Structuring of enterprises' capital and evaluation the effectiveness of its use. Formuvannya rynkovykh vidnosyn v Ukrayini, 6, 56-62 [in Ukrainian].

Blank, I.A. (2000). Managing capital use. Kyiv: Nika-Centre, Jel'ga [in Russian].

Kehinde, J.S. (2011, September). Effective Working Capital Management in Small and Medium Scale Enterprises (SMEs). International Journal of Business and Management, 6(9), 271-279. Retrieved from http://www.ccsenet.org/ijbm.

Romano, C.A., Tanewski, G.A. & Smyrnios, K.X. (2001). Capital structure decision making: A model for family business. Journal of Business Venturing, 16(3), 285-310. Retrieved from http://www.sciencedirect.com/science/journal/08839026/16.

Baral, K.J. (2004). Determinants of Capital Structure: A Case Study of Listed Companies of Nepal. The Journal of Nepalese Business Studies, I(1). Retrieved from http://www.google.com.ua/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=33&cad=rja&ved=0CDkQFjACOB4&url=http%3A%2F%2Fwww.nepjol.info%2Findex.php%2FJNBS%2Farticle%2Fdownload%2F34%2F116&ei=jZttUt_PK4Hq4wSRgoGgDw&usg=AFQjCNHX_Jjz6oWOhPoBDq_2a1tePRZvow.

Khrawish, H.A. & Khraiwesh, A.H.A. (2010). The Determinants of the Capital Structure: Evidence from Jordanian Industrial Companies. JKAU: Econ. & Adm., 24( 1), 173-196. Retrieved from http://www.kau.edu.sa/Files/320/Researches/55328_25671.pdf.

Semenov, A.H., Plaksyuk, O.O. & Yaroshevs'ka, O.V. (2010). Effective management of JSC’s capital structure. Herald of Economic Science of Ukraine, 2, 137-144 [in Ukrainian].

Mohylova, A.Yu. (2013). A new approach to assessing company capitalization of cognac industry in Ukraine. Herald of Khmelnytskyi national university. Economics Series, 2(4), 129-137 [in Ukrainian].

Velnampy, T. & Aloy Niresh, J. (2012). The Relationship between Capital Structure & Profitability. Global Journal of Management and Business Research, 12(13), Version 1.0, р. 66-73. Retrieved from http://www.google.com.ua/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=2&cad=rja&ved=0CDQQFjAB&url=http%3A%2F%2Fwww.researchgate.net%2Fpublication%2F231589896_The_Relationship_between_Capital_Structure__Profitability%2Ffile%2F79e41506d65f737ef2.pdf&ei=k5ltUtBzwYrjBJbJgaAF&usg=AFQjCNHnuv6qageOfxBn2TEySLUYYgB7Nw&bvm=bv.55123115,d.bGE.

Vitlins'kyy,V.V. & Verchenko, P.I. (2000). Analysis, modeling and management of economic risk: guidebook for self-study courses. Kyiv: KNEU [in Ukrainian].

Vitlins'kyy,V.V. & Nakonechnyy, S.I. (1996). The risk in management. Kyiv: Borysfen [in Ukrainian].

Zhluktenko, V.I. & Nakonechnyy, S.I. (2000). Probability Theory and Mathematical Statistics: guidebook in 2 parts (part 1). Kyiv: KNEU [in Ukrainian].

Luk’yanenko, I. & Krasnikova, L. (1998). Econometrics: Textbook. Kyiv: Znannya [in Ukrainian].


Refbacks

  • There are currently no refbacks.