INFORMATION & ANALYTICS

Original Paper

UDC 622.003.1:658.1 © I.V. Filimonova, S.M. Nikitenko, A.A. Rozhkov, I.V. Provornaya, E.V. Goosen, D.S. Vostrova, 2022

ISSN 0041-5790 (Print) • ISSN 2412-8333 (Online) • Ugol’ – Russian Coal Journal, 2022, № 5, pp. 18-25

DOI: http://dx.doi.org/10.18796/0041-5790-2022-5-18-25

Title

ISSUES OF MODELING THE FINANCIAL STABILITY OF COAL MINING COMPANIES IN CONDITIONS OF UNCERTAINTY OF THE EXTERNAL ENVIRONMENT

Authors

Filimonova I.V.¹, Nikitenko S.M.², Rozhkov A.A.³, Provornaya I.V.², Goosen E.V.², Vostrova D.S.⁴

¹Trofimuk Institute of Petroleum Geology and Geophysics of Siberian Branch Russian Academy of Sciences, Novosibirsk, 630090, Russian Federation

²Federal Research Center for Coal and Coal Chemistry, Siberian Branch of the Russian Academy of Sciences, Kemerovo, 650099, Russian Federation

³JSC Rosinformugol, Moscow, 119049, Russian Federation

⁴Novosibirsk State University, Novosibirsk, 630090, Russian Federation

Authors Information

Filimonova I.V., Doctor of Economic Sciences, Professor, Chief Researcher, e-mail: FilimonovaIV@list.ru

Nikitenko S.M., Doctor of Economic Professor, Chief Researcher, e-mail: nsm.nis@mail.ru

Rozhkov A.A., Doctor of Economic Sciences, Professor, Chairman of the Board of Directors, e-mail: aarozhkov@mail.ru

Provornaya I.V., PhD (Economic), Associate Professor, Senior Researcher, e-mail: ProvornayaIV@gmail.com

Goosen E.V., PhD (Economic), Associate Professor, Leading Researcher, e-mail: egoosen@yandex.ru

Vostrova D.S., master's student

Abstract

The article analyzes the main trends in the development of the coal industry in Russia, including the dynamics of coal production, the volume and structure of investment in fixed capital, the dynamics of coal exports. The prerequisites for maintaining these trends are indicated. To improve the efficiency of the companies in the industry, a two-criteria optimization model of the capital structure was built. The presented model allows, having a forecast of the parameters of the organization's financial statements, to obtain the optimal capital structure of the enterprise for the forecast period. To solve this model, we apply the mathematical method for finding the Pareto-optimal solution, which is used in solving multicriteria problems. This model was applied to the coal company of the Novosibirsk region, which is the largest producer and exporter of high-quality anthracite. The optimal ratio of own and borrowed capital is calculated, recommendations are given to achieve these indicators.

Keywords

Coal companies, Russia, Production, Capital structure, Multicriteria model, Pareto-optimal solution.

Reference

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Acknowledgements

The research was carried out at the expense of the grant of the Russian Science Foundation No. 22-28-01803, https://rscf.ru/project/22-28-01803/

For citation

Filimonova I.V., Nikitenko S.M., Rozhkov A.A., Provornaya I.V., Goosen E.V. & Vostrova D.S. Issues of modeling the financial stability of coal mining companies in conditions of uncertainty of the external environment. Ugol’, 2022, (5), pp. 18-25. (In Russ.). DOI: 10.18796/0041-5790-2022-5-18-25.

Paper info

Received February 1, 2022

Reviewed February 22, 2022

Accepted April 21, 2022