ASSESSMENT OF ENTERPRISE RESILIENCE TO WAR AND POST-WAR SHOCKS

Анотація

The article presents a comprehensive study of the resilience of Ukrainian enterprises to wartime and post-war shocks during 2020–2024 based on a systemic analysis of financial, operational, human resource, investment, foreign economic, and entrepreneurial performance parameters. Enterprise resilience is interpreted as an integral multidimensional characteristic combining the ability to maintain solvency, ensure continuity of production and logistics processes, retain human capital, preserve access to external demand, and restore economic potential after shock impacts. This approach makes it possible to move beyond the narrow interpretation of resilience as an exclusively financial category and to develop a holistic analytical model relevant to wartime conditions and postwar economic reconstruction. The study analyzes the dynamics of key indicators of profitability, liquidity, debt burden, capacity utilization, labor shortages, investment activity, foreign trade capacity, and small business entrepreneurial activity. Based on the normalization of the indicator system using the min–max method and the subsequent weighting of components, an integrated enterprise resilience index was calculated, reflecting changes in adaptive capacity across the pre-war, shock, and stabilization periods. It was established that the deepest decline in resilience occurred in 2022 due to the simultaneous deterioration of financial, operational, and investment components, whereas in 2023–2024 only a partial recovery was observed without a full return to the pre-war equilibrium. It has been proven that in the post-war phase the key determinants of resilience remain human resource availability, access to investment resources, cost control, market diversification, and the flexibility of managerial decisions. Particular emphasis is placed on the asymmetry of recovery, in which financial and operational stabilization outpaces the restoration of human and investment potential. The obtained results form a methodological basis for further assessment of sectoral enterprise resilience and for the development of applied mechanisms to enhance the adaptive capacity of business under wartime and post-war shocks.

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