THE PARADIGM OF FINANCIAL RESTRUCTURING IN CRISIS MANAGEMENT OF BUSINESS ENTITIES

Abstract

The purpose of the article is to study and substantiate conceptual approaches to the formation of a modern paradigm of financial restructuring in the anti-crisis management of business entities, taking into account the challenges of the competitive environment, post-industrial development and conditions of post-war economic recovery in Ukraine. The article examines the topical aspects of forming the paradigm of financial restructuring in the system of anti-crisis management of business entities under martial law and future post-war recovery. The article highlights the complex impact of the armed aggression of the Russian Federation on Ukrainian enterprises that have found themselves in conditions of financial instability, loss of tangible assets, reduced domestic demand and difficult access to resources. The authors note that in such circumstances, financial restructuring should acquire a new meaning - not only as an operational stabilisation tool, but also as a long-term strategy for transforming the management system aimed at increasing the efficiency of using the internal potential of an enterprise. The author emphasises the importance of integrating restructuring measures into the overall concept of crisis management, taking into account limited resources, growing debt burden, and the need to maintain investment attractiveness and confidence in the economy. It is substantiated that the post-war period will require a systematic approach to managerial changes, in particular through the reorganisation of financial structures, introduction of modern management practices and strengthening the role of intellectual capital. The methodological basis of the study is the enterprise life cycle models of L. Greiner and I. Adizes, which allow identifying key points of organisational transformation and determining the optimal stages for implementing restructuring. It is concluded that the anti-crisis potential of an enterprise should be formed as an integrated system of financial, managerial and personnel decisions, which allows not only to respond to crisis challenges, but also to actively transform in accordance with the dynamic market conditions. Financial restructuring, in this sense, is not a temporary measure, but one of the key elements of sustainable economic development in the face of uncertainty and constant change.