FEATURES OF CAPITAL STRUCTURE BENCHMARKING IN THE CONTEXT OF DIGITAL ECONOMY TRANSFORMATION

Анотація

The article is devoted to the theoretical and practical study of benchmarking the capital structure in the context of economic digitalization as an important tool for improving the efficiency of enterprise financial management. The relevance of the topic is substantiated in the context of the growing role of digital technologies, the development of data-driven management amid market instability, changes in the cost of capital, and a risky environment. The analysis of the evolution of benchmarking, theoretical approaches to capital structure management, and the application of digital tools in financial management has allowed for the generalization of the theoretical foundation of capital structure benchmarking based on classical capital structure theories, modern financial concepts, and the concept of data-driven management. Theoretical and methodological principles of capital structure management benchmarking have been formulated, which ensure a systematic and comparative approach to evaluating financial decisions. These principles involve determining benchmark indicators, types of capital structure benchmarking depending on the object of comparison and the level of analysis, formulating the features of digital transformation in capital structure benchmarking, substantiating the evaluation of benchmarking results based on efficiency criteria that reflect both financial and strategic consequences of capital structure optimization. Key indicators for capital structure benchmarking have been identified, enabling the assessment of the level of financial stability, debt burden, and cost of capital of enterprises. A methodological approach to implementing benchmarking has been developed, which includes forming a group of peers, calculating and comparing indicators, conducting gap analysis, and developing practical management recommendations. The main sources of data information have been identified, and digital benchmarking tools have been characterized, which contribute to the automation of analytical processes and the improvement of the quality of financial information. Examples of the application of capital structure benchmarking for companies in selected industries are provided and analyzed, confirming the practical feasibility and effectiveness of the proposed approach in the context of the digital transformation of the economy

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