AN INTEGRATED COMBINATORIAL MODEL OF FINANCIAL SUPPORT FOR ENTERPRISE DEVELOPMENT IN THE GLOBAL ECONOMY

Анотація

The article explores theoretical and applied foundations of financial support for enterprise development in the context of transformations in the global economy. The combinatorial approach is substantiated as an integrated financial management model that combines institutional, resource-based, strategic, marketing, adaptive, and situational perspectives. It is argued that the use of isolated approaches to financial management significantly limits the ability of enterprises to ensure sustainable development, especially under conditions of increasing global uncertainty, rising cost of capital, and intensified competition for investment resources. The study identifies key constraints in access to financial resources, including limited internal funds, low creditworthiness, high risk levels, underdeveloped alternative financial instruments, and weak integration into global financial markets. It is demonstrated that in the context of globalization, financial support should be considered as a multi-level system shaped by internal capabilities, national financial systems, and international economic dynamics. The role of diversification of financing sources is emphasized, including the combination of internal funds, bank lending, leasing mechanisms, investment capital, and public-private partnerships. The study shows that the use of international financial instruments and participation in global value chains contribute to improving financial resilience, reducing risks, and expanding development opportunities. A conceptual model of the combinatorial approach is proposed, based on the integration of multiple management perspectives and accounting for the influence of the global economic environment.

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