Investment Toolkit for Managerial Decision-Making on the Formation of an Optimal Capital Structure of an Enterprise

Abstract

The purpose of the article is to generalize and systematize the investment toolkit used in managerial decision-making on capital structure formation, as well as to further develop the methodological foundations for its application under conditions of economic uncertainty. In the course of the research and achievement of the stated objective, both general scientific and special methods were applied, including the dialectical method of scientific cognition, analysis and synthesis, comparative analysis, abstraction, systems approach, formal logic, and data generalization. The article examines the role of investment instruments in the process of managerial decision-making regarding the formation of an optimal capital structure of an enterprise. A conceptual model of the enterprise value management framework integrating investment and financing components has been developed. Based on the reviewed scientific literature, a classification of investment instruments according to four levels — evaluative, optimization, adaptive, and strategic — has been proposed. The necessity of integrating investment analysis with financial planning in order to ensure the long-term business value has been substantiated. The tools for the preliminary assessment of the impact of an investment project on the financial architecture of an enterprise have been generalized. The toolkit for evaluating investment projects has been systematized with regard to their impact on leverage, cost of capital, and financial flexibility. A methodological approach to the selection of investment instruments based on resilience and adaptability criteria has been proposed through the following stages: diagnosis of the current capital structure, formation of an investment portfolio, modeling of factors affecting the capital structure, optimization of financing alternatives, stress testing and resilience assessment, implementation, and monitoring. Practical recommendations for the implementation of the proposed approach into the corporate financial management system have been identified. For integrated investment and financial decision-making, the use of a system of weighted criteria has been proposed, including value efficiency, risk adaptability, financial flexibility, strategic alignment, and operational feasibility.