INTEGRATION OF PROJECT FINANCING INTO THE SYSTEM OF STRATEGIC CORPORATE FINANCE IN THE CONTEXT OF ENSURING THE FINANCIAL SECURITY OF BUSINESS ENTITIES
Abstract
The article examines the theoretical, methodological, and applied aspects of integrating project financing into the system of strategic corporate finance in the context of ensuring the financial security of business entities. It is substantiated that under conditions of increasing economic instability, heightened risks, and limited financial resources, traditional approaches to financial management are losing their effectiveness, which necessitates the implementation of innovative financial instruments. It is proven that project financing serves not only as a mechanism for attracting investment but also as an important element of strategic financial flow management, enabling risk localization, capital structure optimization, and enhancement of investment attractiveness of enterprises. The study analyzes the essence of project financing and identifies its key functions in the corporate environment, including investment, risk management, structural optimization, and strategic functions. The features of strategic financial management are examined, emphasizing its focus on long-term value creation, financial stability, and adaptability to changes in the external environment. The main threats to the financial security of business entities are systematized, including macroeconomic, financial, investment, and managerial factors. A concept for integrating project financing into the system of strategic finance based on a risk-oriented approach is proposed. This concept предусматриває alignment of investment decisions with the strategic objectives of the enterprise, comprehensive risk assessment, risk allocation among project participants, and the implementation of monitoring and control mechanisms. It is justified that the implementation of the proposed approach will contribute to improving the efficiency of financial resource utilization, strengthening financial security, and ensuring sustainable development of enterprises. The practical significance of the obtained results lies in their applicability for the formation of corporate financial strategies, the development of investment projects, and the improvement of financial risk management systems.
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