Venture Financing of the Subjects of Agrarian Business

Nataliya Trusova (), Nataliya Tanklevska and Oleksandr Prystemskyi
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Nataliya Trusova: Tavria State Agrotechnological University, Melitopol, Ukraine
Nataliya Tanklevska: Kherson State Agrarian University, Kherson, Ukraine
Oleksandr Prystemskyi: Kherson State Agrarian University, Kherson, Ukraine

Oblik i finansi, 2019, issue 2, 99-108

Abstract: The article is devoted to the analysis of problems and prospects of development of Ukrainian venture industry in agriculture, taking into account the comprehensive methodological approach to ensuring the profitability of financial assets of subjects in the distribution of investment resources of venture funds. The axiom of value and the universal method of discrete venture financing in agriculture were singled out. The basis of the favorable institutional infrastructure of venture funds for regulation of financial support of high-tech projects of subjects at the macro level was determined. To achieve the purpose of the study, the authors used the synchronization of flexible methods for the gradual financing of in-vestment projects, as well as methods of analysis of the dynamics of the innovation process of venture financing in Ukraine and countries of the world. The binomial model of estimating the value of the basic financial assets of venture funds at a risk-free rate was constructed by transforming the "tree" of the financial flows of the latter into the "tree" value of sources of venture financing of agrarian enterprises. It was proved that the attraction of long-term (due to Euro-bonds) and non-maturity (at the expense of placement of shares) of venture financing in the amount of 1 EUR., in the foreign equity market of venture capital allows ensuring an increase in agricultural GDP in Ukraine by an average of 6.8 EUR. Under the ideal conditions of the financial environment and achieving the risk-free margin of the financial flow margin for all the same type of agro holdings that form the volume of gross agricultural output, must have the same access to investment resources and equal rates of yield of financial assets in the investment portfolios of foreign venture funds.

Keywords: venture funds; venture capital; venture financing; investment resources; innovations; agriculture; agrarian enterprises (search for similar items in EconPapers)
JEL-codes: G11 G12 G15 G24 Q14 (search for similar items in EconPapers)
Date: 2019
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