Mariia Tepliuk

The study analyzed and summarized publications on the nature of the formation of financial and credit infrastructure, which is created in order to support agricultural enterprises. The functioning and development of financial and credit infrastructure as a factor of social and economic development of the country is explored. The features of diversification of financing sources of agricultural enterprises are determined. The role of bank lending to agricultural enterprises in Ukraine is investigated. The model of interaction of participants of the financial and credit infrastructure of support for agricultural enterprises through the formation of the certain conditions is proposed. It is proved that such measures will provide increase in the efficient use of available agro-resource potential and reopen the industry attractiveness for investing companies.

Nowadays, there is a constant need to build an appropriate system for assessing the company`s value for shareholders, which implies that the company chooses an adequate model based on drivers, which allow making decisions at all management levels associated with investment activity, ensuring an increase in value for owners. The purpose of the article is to improve the methodology for assessing the influence of drivers as a critical element of value-oriented management on the investment activity of companies. The analysis technique consists of two parts. In the first part, regression models of factors influence and cost drivers on the value multipliers and shareholder profits were built. Based on the interpretation of the coefficients obtained, it should be noted that the cost-effectiveness of assets has the most powerful impact on the market value of the company and shareholder`s profitability.
Thus, the presence of sustainable competitive advantages, resulting simultaneously in higher company value and profitability, the variable profitability in its turn does not fully reflect the potential for generating cash flows in the future. In the second part of the analysis, the authors built the probit models of the factors influence and cost drivers on the probability that the value multipliers of the market average values and the total profitability of shareholders are above the market average. Based on the relative strength model of the influence factors and drivers of value on value-based management, the recommendations were formulated.