Specifics of capital structure management of electronic commerce market leaders
<b>Subject.</b> The article addresses leader companies of the e-commerce market in terms of sales and capitalization, that make their financial statements publicly available. <b>Objectives.</b> The aim is to identify special aspects of capital structure management policies of the largest e-commerce players based on ratio analysis. <b>Methods.</b> The study employs general scientific methods of research. <b>Results.</b> The paper reveals the specifics of capital structure management of the global e-commerce market leaders. The leading companies prefer an aggressive approach to the formation of their capital structure, increasing the volume of borrowed capital in comparison with their equity. The management of companies tries to provide a moderate approach to capital structure management and debt servicing, demonstrating the ability to repay debts in a timely manner. Aggressive capital structure policy is conditioned by specific activities of e-commerce companies, requiring constant search for and attraction of additional financial resources for improving production processes by management. <b>Conclusions.</b> Key players have an aggressive capital structure policy. This feature is necessitated by the need to systematically attract additional financing to expand the business, increase sales volumes, capture and create new markets. E-commerce companies have to constantly improve technology, logistics processes, and render a good and excellent customer service.