N.N. Minina
Belarusian State Academy of Agriculture, ul. Michurina, 5, Gorki, Mogilevskaya obl., 213407, Republic of Belarus
Abstract. The article analyses the reasons for the reduction of equity capital of agricultural organizations of the Republic of Belarus. Since the preservation of this trend may cause the slowdown of economic growth, change in the proportions of distribution of the created income of agricultural organizations to the needs of accumulation and consumption is offered as one of the solutions of this problem. For this purpose, the correlation models of generated income, the required investments and savings are constructed to determine the optimum value of equity capital and distribution of income to the needs of accumulation and consumption ensuring sustainable development. The models were made on the basis of data of National Statistical Committee of the Republic of Belarus for 2013–2015 for agricultural organizations, specializing in dairy and beef cattle breeding, production of cereals and pig breeding, depending on their degree of solvency. So, the optimal amount of equity capital is 30,100 dollars per average employee for solvent organizations specializing in pig breeding, 28,600 dollars for organizations with insolvency acquiring stable character, and the optimal savings rate is 76.2 and 67.8%, respectively. For organizations, specializing in dairy and beef cattle breeding these values are 30,600 and 24,400 dollars, 75.4 and 73.0%; for organizations, specializing in the production of cereals – 29,000 and 23,800 dollars and 67.9 and 69.9%. In compliance with the calculated proportions of income distribution, the level of consumption per worker will be maximal and will be equal to 3,200 dollars in solvent organizations, specializing in pig breeding, and 3,100 dollars in organizations with insolvency, acquiring stable character. In organizations, specializing in dairy and beef cattle breeding, these values will be 3,300 and 2,800 dollars; in organizations, specializing in the production of cereals – 3,800 and 2,800 dollars.
Keywords: fixed capital; working capital; equity capital; financial stability; reproduction of capital; distribution of income; sustainable development.
Author Details: N.N. Minina, senior lecturer (e-mail: Этот адрес электронной почты защищён от спам-ботов. У вас должен быть включен JavaScript для просмотра.).
For citation: Minina N.N. Formation of Equity Capital of Agricultural Organizations of the Republic of Belarus. Dostizheniya nauki i tekhniki APK. 2018. Vol. 32. No. 1. Pp. 50-56 (in Russ.).