Theoretical basis of the mechanism of financial activity of engineering enterprises

Abstract

The article examines the theoretical foundations of the formation and functioning of the mechanism of financial activity of engineering enterprises as a component of their strategic development system. It is substantiated that financial activity in modern conditions of economic transformation is not only a tool for ensuring the operational stability of the enterprise, but also a key factor in realizing its long-term growth potential. The content of the concept of “financial mechanism” in the context of the economic mechanism of the enterprise is revealed, its structural elements, functions and principles of action are determined. The importance of harmonizing internal financial processes with the external economic environment is emphasized, which is especially relevant for engineering enterprises with long production cycles and a high level of capital intensity. In the process of the study, an analysis of scientific approaches to the interpretation of the financial mechanism of the enterprise was carried out, in particular in the works of Ukrainian and foreign economists. The trends of development of theoretical research for 2022–2024 are identified, which focus on strategic financial planning, forecasting, investment attractiveness and digitalization of financial processes. The impact of military and crisis factors on the financial management system of enterprises is summarized, which led to an increased need for the formation of flexible, adaptive and innovation-oriented financial mechanisms. The article identifies the main problems of the financial activities of machine-building enterprises: fragmentation of financial planning, insufficient level of integration of financial and production strategies, limited sources of investment financing and low efficiency of use of financial resources. It is substantiated that solving these problems requires improving the financial mechanism by introducing modern tools for financial planning, control and forecasting, developing digital financial management platforms, as well as forming a risk management system at enterprises. It is concluded that the effective functioning of the financial mechanism is a prerequisite for increasing the resilience of machine-building enterprises to external shocks, ensuring their competitiveness and creating a basis for sustainable economic development of the industry as a whole. The developed theoretical generalizations and practical proposals can be used in further research into the financial strategy of industrial enterprises and in the formation of a policy of state support for the machine-building sector.