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Managing the Financial Resources of International Economic Enterprises by Investing into the Technology of Energy Saving
Kotenko O. О., Domashenko M. D., Burnakova V. Y., Chernysh D. D.

Kotenko, Oleksandr О. et al. (2020) “Managing the Financial Resources of International Economic Enterprises by Investing into the Technology of Energy Saving.” Business Inform 6:275–281.
https://doi.org/10.32983/2222-4459-2020-6-275-281

Section: Finance, Money Circulation and Credit

UDC 336.66

Abstract:
The article is concerned with substantiating the feasibility of managing financial resources based on the approach of «financial sustainability – international business – energy saving», formalizing the main advantages and disadvantages of such a management system. This approach involves creating an environment in which enterprises will have the potential for quality development and growth not only during a favorable financial and economic climate, but also during financial and economic crises. It is proposed to form a specialized fund, which provides for the release of means and their further investment into energy-efficient and resource-saving technologies. The sequence of the formation of a specialized fund is presented as follows: step 1 is the release of financial resources by implementing the components of «international business» and the first projects of the «energy saving» component; step 2 – by saving financial resources (if the payback period of the implemented technologies has already passed); step 3 – use of the resources accumulated in the fund to implement further energy-saving projects and/or the formation of reserve funds; step 4 is a crisis period when, having formed financial reserves, the enterprise gets the opportunity to use free funds to preserve financial stability and the potential for further development. The article specially focuses on explaining the role of energy-efficient and resource-saving technologies in this management conception, as well as identifying the problems associated with the introduction of such technologies. Financing for the projects related to the introduction of energy-efficient equipment allows to receive a positive economic effect by reducing the average daily consumption of electricity, natural gas, other energy carriers.

Keywords: management, financial sustainability, energy-saving technologies, resource-saving technologies, international business, international economic activity, international trade, financial resources management, sustainable development.

Bibl.: 11.

Kotenko Oleksandr О. – Candidate of Sciences (Economics), Senior Lecturer, Department of International Economic Relations, Sumy State University (2 Mykoly Sumtsova Str., Sumy, 40007, Ukraine)
Email: [email protected]
Domashenko Maryna D. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Economic Relations, Sumy State University (2 Mykoly Sumtsova Str., Sumy, 40007, Ukraine)
Email: [email protected]
Burnakova Valeria Yu. – Student, Sumy State University (2 Mykoly Sumtsova Str., Sumy, 40007, Ukraine)
Email: [email protected]
Chernysh Dmitriy D. – Student, Sumy State University (2 Mykoly Sumtsova Str., Sumy, 40007, Ukraine)

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