Justification of the methodology for assessing the financial stability of development organizations based on a system of drivers

In conditions of high capital intensity, long investment cycles, and susceptibility to macroeconomic factors, development activities are in urgent need of effective tools for assessing and managing financial stability. Existing methods are generally based on retrospective analysis and do not fully account for the dynamics of external and internal factors. This article substantiates a methodology for assessing the financial stability of development organizations based on a system of drivers. The research objective is to develop a tool capable of ensuring proactive financial stability management by identifying and prioritizing key determinants. The methodology synthesizes theoretical concepts of financial stability, the industry specifics of development, and modern analytical tools, in particular, Saaty’s Analytic Hierarchy Process (AHP). The proposed system of drivers is classified into external (monetary, regulatory, conjunctural, inflationary) and internal (structural, investment, performance, operational, innovative) categories. Within the methodology, quantitative prioritization of drivers is performed using AHP, and an integral financial stability index is calculated. The methodology’s verification was carried out using two development companies, demonstrating its practical applicability for identifying strengths and critical areas requiring management intervention. The methodology allows for increased diagnostic accuracy, optimization of financing structure, and strengthening stakeholder confidence.

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