International Finance and Accounting


The article analyzes the approaches to the definition and assessment of financial leverage, presented in domestic and foreign economic literature. The existing economic models, developed on the basis of the relationship between the interest coverage ratio and the level of financial leverage, allowing to determine the acceptable level of financial risk for an enterprise, as well as a general simplified scheme for analyzing financial leverage on the example of a small business entity. The article considers the dual nature of economic events when attracting external financing, which can be considered on the basis of financial leverage. The methods of calculating the optimal leverage ratio and creating an equilibrium in the overall capital structure under various conditions, such as the conditions of a pandemic, are analyzed. The influence of various internal and external factors in making management decisions related to the determination of the optimal financial leverage ratio is disclosed.


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