On assessment of the impact of the financial leverage effect on the sustainable growth of wineries enterprises of the Republic of Crimea, Sevastopol city and the Krasnodar krai

The article considers the influence of the effect of financial leverage on the economic growth of enterprises in the wine industry of the Republic of Crimea, Sevastopol city and the Krasnodar Krai using A. Rappoport’s model of achievable growth for the purposes of prospective analysis. A direct relationship between the increase in the efficiency of the use of borrowed capital and the coefficient of achievable growth has been revealed. The optimal limits of the level of financial leverage have been established for the purpose of realizing the economic potential of the considered enterprises of the wine industry of the Republic of Crimea, Sevastopol city and the Krasnodar Krai. It is shown that for the wine production of the Republic of Crimea, borrowed capital is one of the key factors in achieving growth in sales volumes. Some enterprises of the Krasnodar Krai also have reserves to obtain a positive effect from the use of borrowed funds.