THE TECHNIQUE OF MONITORING THE FINANCIAL SECURITY OF THE ECONOMIC ENTITY BASED ON THE ASSESSMENT OF FINANCIAL THREATENING RISK


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Abstract

The high level of competitiveness, the elevated uncertainty in the geopolitical sphere, the financial instability and even the inconsistency of certain industries, states, political and economic blocs, the dynamically changing customer requests cause the instability of the economic activity of an economic entity and require the application of new tools for management of financial and business activity of an economic entity.

The paper shows the elements of the financial security system of an economic entity, identifies the existing threats that affect the provision of financial security, offers the technique for possible risks monitoring considering their probability and suggested measures to reduce negative impact.

The authors identified the threat main indicators recommended for use when assessing the financial security of an economic entity which can be quantified on the basis of indicators characterizing certain economic processes.

The application of the risk-oriented approach allows monitoring the financial security threats taking into account their probability. The study was carried out on the data of twelve enterprises of Samara region using the weighting factor. The existence of trend dynamics of changes in the level of threat risk makes it possible to use the proposed methodology for the strategic management of the financial security of a company.

Financial threats management should occur based on their probability (risk-oriented approach). The probability of risk occurrence depends on the quantitative interval of the indicator or the qualitative characteristics (in the case when the quantitative measurement is not possible).

The monitoring of the financial risk level conducted according to the data of the economic entities makes it possible to conclude that there are trends in their changes and, consequently, the possibility of planning and changing the level of risk through management decisions.

About the authors

Olga Aleksandrovna Naumova

Samara State University of Economics, Samara

Author for correspondence.
Email: naumovaoa@gmail.com

PhD (Economics), assistant professor of Chair of Accounting, Analysis and Audit of the Institute of Control Systems

Russian Federation

Maksim Anatolievich Tyugin

Samara State University of Economics, Samara

Email: tyuginmaxim@gmail.com

student of the Institute of Control Systems

Russian Federation

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