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USING GAME-THEORETIC APPROACHES FOR DEVELOPMENT OF FINANCIAL STRATEGY OF ENTERPRISES INTERACTION

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PDF: Author(s): Dmitriev N. D., Mihel E. A., Zaytsev A. A.,
Number of journal: 3(52) Date: August 2020
Annotation:

Financial strategy is an important element of corporate governance, which includes decisions on many internal issues. It is used to determine the success of business activity and the effectiveness of distributed cash flows. The special importance of a strategic approach to financial management arises from the interaction between various actors. The use of mathematical science in the economics allows conducting a quantitative assessment of decisions made under conditions of uncertainty, which allows rationalizing management activities and interaction between the subjects. The criteria of game theory are a powerful tool for understanding the relationships that are created and developed in the process of making strategic decisions on interaction of enterprises in the course of competition and inter-corporate cooperation. The scientific novelty of the work is to put forward the authors’ assumption about the possibility of applying the game-theoretic criteria to construction of financial strategies aimed at interaction between different enterprises. The article proposes to analyze the possibility of using game theory to form a financial strategy of interaction between economic entities. This approach makes it possible to distance oneself from the shortcomings of so-called “bad” management. It is concluded that the use of game-theoretic approaches allows developing a financial strategy of a company that allows streamlining management activities and interaction between entities. The use of the mathematical apparatus of game theory provides for the choice of the most optimal strategy of interacting with enterprises, minimizing potential risks and threats, and creates great prospects for developing “recipes” for more advanced alternatives of behavior. The research is a theoretical basis for further improvement of the problem of adapting game-theoretic criteria to the strategic planning of interaction between the subjects.

Keywords:

game theory, enterprise interaction, game-theoretic method, financial strategy, payment matrix, decision-making, management rationalization, mathematical modeling, mathematical instrument of game theory, risk factors, strategic program.

For citation:

Zaytsev A. A., Mihel E. A., Dmitriev N. D. Using game-theoretic approaches for development of financial strategy of enterprises interaction. Business. Education. Law, 2020, no. 3, pp. 81–87. DOI: 10.25683/VOLBI.2020.52.359.