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Regional Economics: Theory and Practice
 

Formation and use of financial resources by agricultural enterprises: A regional aspect

Vol. 16, Iss. 3, MARCH 2018

PDF  Article PDF Version

Received: 20 December 2017

Received in revised form: 27 December 2017

Accepted: 15 January 2018

Available online: 15 March 2018

Subject Heading: AGRO-INDUSTRIAL COMPLEX

JEL Classification: D22, G17, P47, R15, R51

Pages: 495–515

https://doi.org/10.24891/re.16.3.495

Sharikova I.V. Saratov State Agrarian University named after N.I. Vavilov, Saratov, Russian Federation
ivcharikova@yandex.ru

ORCID id: not available

Sharikov A.V. Saratov State Agrarian University named after N.I. Vavilov, Saratov, Russian Federation
ooo_br@mail.ru

ORCID id: not available

Importance Low solvency of agricultural enterprises is a result of the process of formation and use of funds throughout their production and economic activities. The analysis of factual information enables timely use of quantitative and qualitative characteristics of changes in cash flows to improve their management.
Objectives The study aims at comprehensive investigation of efficient money management at enterprises of the agrarian sector, monitoring the process of formation and use of cash flows, and evaluation of their basic characteristics.
Methods We apply economic and statistical methods to assess changes in a number of economic indicators describing cash flows of agricultural enterprises in the oblast; substantiate parameters of the regression model of cash flow liquidity dependence on major factors.
Results During the period under analysis, there are positive changes in the composition and structure of cash budget at agricultural enterprises of the Saratov oblast. They include a stable excess of cash inflows over outflows in current transactions, significant capital investments, creation of reserves to ensure stable operation, paying off loans and lines of credit, increasing free cash balances. All these changes help solve problems with financial health, liquidity, contribute to cash flow increase.
Conclusions The analysis enabled to establish relationships between generated profit and changes in cash balances. We underpin and offer a regression model of liquidity ratio dependence on main factors of production.

Keywords: financial resources, cash, cash flow management, direct and indirect methods of analysis, liquidity

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