Issue: № 5, 2025
Doi: https://doi.org/10.37634/efp.2025.5.16
Introduction. The state of working capital management of enterprises engaged in economic activity in the construction industry of Ukraine, as well as enterprises in other sectors of the economy, has many threats and risks, the impact of which also affects the effectiveness of the studied process. Establishing the main assessment indicators and problems in this area will allow us to determine ways to respond and overcome challenges and will allow us to assess the ability of Ukrainian companies in this industry to the destructive effects of threats and challenges caused by wartime. The purpose of the paper is to analyze the effectiveness of working capital management at enterprises in the construction industry of Ukraine. Results. The paper formulates the author's approach to assessing the efficiency of working capital management in this sector. Within the framework of the presented author's approach, the specifics of the industry and the features of managing the specified process are taken into account, which distinguishes it from traditional scientific approaches that do not emphasize the features of the efficiency of working capital management of enterprises in the construction sector (including under martial law). Conclusions. It was noted that the main problems in the area of the efficiency of working capital management of companies in the construction sector of Ukraine include: a decrease in the profitability of working capital management, associated with the fact of an unforeseeable increase in the cost of services of contracting partner companies; a decrease in liquidity indicators due to the increase in the share of the element of slowly liquid assets (namely, work in progress and production inventories); an increase in the growth of external dependence on the element of current external liabilities, which acts on a decrease in liquidity indicators and is associated with an increase in the share of production inventories (due to the fact that companies purchase wholesale lots to reduce prices) and work in progress in the structure of working capital; an increase in the growth of the dependence of the element of the cost of products (services) from an unforeseeable increase in the element of other operating expenses (expenses for covering the work of contracting organizations, the cost of which increases in wartime conditions), which in the event of non-fulfillment of obligations by contractors may become losses.
Keywords : efficiency analysis, working capital management, enterprises of the construction industry of Ukraine, gross profitability of working capital, contracting organizations, other current assets, martial law, other operating expenses, violation of contract terms
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