Home  Journals  Financial Analytics: Science and Experience  11(293) - 2016 March

Identification and assessment of financial risks in contemporary business practices

Vol. 9, Iss. 11, MARCH 2016

Article PDF Version

Received: 8 December 2015

Received in revised form: 26 January 2016

Accepted: 15 February 2016

Available online: 27 March 2016

Subject Heading: RISK, ANALYSIS AND EVALUATION

JEL Classification: G30, G32, G38

Pages: 24-33

Importance The article examines financial and economic relationships relating to contemporary business risks.
     Objectives The research outlines steps to identify prevailing risks of the entity and choose an effective method for their assessment.
     Methods I applied such dialectical methods as a systems and structural analysis, deduction and induction.
     Results I formulated steps to identify prevailing business risks, starting from an analysis of external and internal factors to risk assessment, determined how they could be managed using the cost method, and prepared a map of financial risks.
     Conclusions and Relevance Scientific findings expand and supplement the theoretical framework of financial management, develop methodological basis of the research and provide significant opportunities for practical implementation. Theoretical and methodological results can be used by Russian businesses to make their decisions more robust under uncertainty and risk as they apply hands-on aspects of risk identification and assessment.

Keywords: risk, financial, assessment, method, sensibility analysis

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