FINANCIAL TRANSFORMATION OF AGRICULTURAL ENTERPRISES IN THE CONTEXT OF GLOBALIZATION

Abstract

The purpose of this work is to study the processes of financial transformation of agricultural companies in the context of globalization, analyze the key factors and challenges of entering international capital markets, and determine strategic directions for adapting the financial model of Ukrainian agricultural enterprises to the requirements of global investors. For the purposes of the study, the author used the method of systematic analysis, comparative method, method of structural-logical analysis, graphical method, and methods of generalization. It has been established that financial transformation is a key practice for agricultural companies, focused on the systematic modernization of financial architecture through the integration of international reporting standards, the introduction of ESG criteria, and the digitization of financial processes, which contributes to increasing business competitiveness. It has been determined that traditional bank lending is far from always able to provide the necessary amount of funds at acceptable rates, and the growth in the cost of credit resources, high industry risks, and limited collateral coverage options significantly complicate access to borrowed funds, prompting a shift from traditional lending models to comprehensive systems for attracting investment capital through stock markets. It has been found that the complexity of financial transformation largely depends on the scale of enterprises' activities, and the reliability of financial information is under constant threat due to the challenges of war, macroeconomic instability, and inconsistencies in the regulatory framework. It has been established that the key factors of transformation are globalization determinants (increased capital intensity of production, limited traditional financing, increased competition), institutional and regulatory trends (introduction of IFRS, development of corporate governance, integration of ESG criteria), and technological trends (raising capital through IPOs, digitalization of financial processes). The main challenges are identified as problems of capital structure, corporate governance, reporting and transparency, digitalization, regulatory compliance, and risk management, while the lack of comprehensive reporting under IFRS and ESG criteria forces companies to postpone their plans to enter international stock exchanges. It has been established that successful financial transformation requires the systematic implementation of advanced financial management practices, including comprehensive IFRS reporting, the formation of independent supervisory boards, the automation of financial monitoring, and the integration of management systems with risk management tools to ensure successful entry into international stock markets.