THEORETICAL AND METHODOLOGICAL BASIS OF FINANCIAL RISKS MANAGEMENT OF INDUSTRIAL ENTERPRISES

Keywords: management, financial risk, industrial enterprise, efficiency, risk management, level

Abstract

The article is devoted to the generalization of the theoretical and methodological aspects of financial risk management at industrial enterprises of Ukraine and the definition of the main directions of counteraction to crisis phenomena. It was noted that the success of an industrial enterprise is determined both by the general conditions of management and by the management's ability to effectively use financial resources. The general level of financial status of an industrial enterprise, prospects for its development and implementation of competitive advantages in the market environment depend on how effectively financial resources are used. The industry of Ukraine is the part of the national economy that is most prone to risks, since industrial enterprises are not always characterized by the rational distribution of financial resources and the use of existing potential, which is able to ensure the avoidance of risky situations. It is noted that in the conditions of the COVID-19 pandemic, the introduction of martial law on the territory of Ukraine, the activities of industrial enterprises are associated with various risks. The factors that cause the emergence of financial risks at industrial enterprises are systematized. It was established that financial risk management is a specific functional and organizational unit in the structure of the financial management model at an industrial enterprise, which should be responsible for identifying, identifying, evaluating and neutralizing financial risks in the implementation of operational, investment and financial activities, as well as the overall risk of financial economic activity of the business entity in modern unstable macroeconomic conditions. It was concluded that the management of financial risks of industrial enterprises is most effective under the conditions of determining the root causes of their occurrence through a preliminary analysis of financial indicators, the nature or mechanism of influence on them by certain factors that lead to negative deviations of their values from normative or planned values.

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Published
2022-06-28
How to Cite
Kondratenko, N., Pysarevskyi, I., & Borovyk, M. (2022). THEORETICAL AND METHODOLOGICAL BASIS OF FINANCIAL RISKS MANAGEMENT OF INDUSTRIAL ENTERPRISES. Economy and Society, (40). https://doi.org/10.32782/2524-0072/2022-40-57
Section
MANAGEMENT