The interrelation between total factor productivity and economic indicators of non-financial corporations
Keywords:
total factor productivity, TFP, non-financial corporations, NFCs, economic growth, interrelation, efficiency, profitability, liquidity, financial stabilityAbstract
The scientific article presents a theoretical and methodological analysis of the relationship between total factor productivity (TFP) and economic performance indicators of non-financial corporations (NFCs) of the Republic of Belarus. The authors systematize economic indicators to take into account the factors and the degree of their influence on the functionality and efficiency of NFCs. Four main groups of indicators are identified: overall performance, profitability, liquidity and financial stability. This classification is consistent with the principles of the systems approach and the resource base theory. The definition of the groups of indicators allows us to identify the mechanisms by which effective management of NFC resources can be transformed into sustainable economic growth, which is an important aspect for the formation of an integrated model of economic development. The results of the article are the basis for developing recommendations for improving the quality of NFC management, which contributes to increasing their financial stability and efficiency, increasing competitiveness and socio-economic development.
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