Efficiency of the financial management system of a joint-stock company: theoretical foundations and practical aspects.

The article investigates the efficiency of the financial management system of a joint-stock company (JSC) from both theoretical foundations and practical perspectives. In the context of globalization and economic instability, effective financial management emerges as a critical factor in ensuring the competitiveness and sustainable development of JSCs. The study analyzes key approaches to assessing the efficiency of financial management, including methods for evaluating financial performance indicators, optimizing capital structure, and managing risks. It explores the interrelationship between theoretical models of financial management and their practical implementation in JSC operations. Particular attention is devoted to unresolved issues, such as the insufficient adaptation of theoretically substantiated methods to the specific conditions of JSC activities amid market uncertainty. Based on a literature review and empirical data, an approach to evaluating the efficiency of financial management systems is proposed, incorporating both quantitative and qualitative indicators. The research findings are substantiated through the synthesis of financial data from JSCs over the period of 2020–2024, and practical recommendations for improving financial management systems are provided. The conclusions emphasize the necessity of integrating modern information technologies and a strategic approach to financial management. Prospects for further research are linked to the development of adaptive financial management models within the framework of digital economic transformation.