INFORMATION AND ANALYTICAL SUPPORT FOR CAPITAL STRUCTURE MANAGEMENT OF CONSTRUCTION ENTERPRISES BASED ON THE METHOD OF HIERARCHY ANALYSIS

Abstract

The article is dedicated to the approach for optimizing the capital structure of construction companies, specifically through the application of the Analytic Hierarchy Process (AHP). The article discusses key aspects of the concept of capital, its role in the economic and managerial context. The importance of achieving an optimal capital structure, which balances equity and debt capital, is emphasized as it ensures financial stability, reduces risks, and maximizes the market value of the company. Key factors for the formation of the optimal capital structure of construction enterprises are identified, taking into account the high level of capital intensity, large amount of borrowed funds and long-term nature of projects. It is recommended to use a mixed capital structure to reduce financial risks, adapt the strategy to economic cycles, changes in lending and the regulatory environment. Specific characteristics of construction companies, such as high capital intensity, significant amounts of borrowed funds, project financing, dependence on economic cycles, and seasonality, are analyzed as factors that determine the need for optimizing the capital structure. The article identifies industry-specific features of capital structure formation in construction companies, including the high level of investment in fixed assets, project risks, long implementation periods, a significant share of "immovable" assets, and dependence on credit resources. It is noted that optimization methods, particularly the AHP, are effective tools for evaluating financing options. AHP allows for the systematization and analysis of numerous criteria such as capital cost, financial stability, liquidity, and profitability. The article also discusses the application of specialized software such as Expert Choice for modeling and analyzing the capital structure. It is concluded that optimizing the capital structure through the AHP method is a crucial tool for ensuring the stable development of construction companies in challenging economic conditions, contributing to improved financial management strategies.