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Economic Analysis: Theory and Practice

Corporate management of interrelated risks in the event of inadequate coordination of counter cross-border flows of benefits

Vol. 17, Iss. 9, SEPTEMBER 2018

PDF  Article PDF Version

Received: 16 April 2018

Received in revised form: 2 July 2018

Accepted: 7 August 2018

Available online: 28 September 2018


JEL Classification: F13, H11

Pages: 1761–1780


Oleinik S.P. National Research University of Electronic Technology, Moscow, Russian Federation

ORCID id: not available

Matyna L.I. National Research University of Electronic Technology, Moscow, Russian Federation

ORCID id: not available

Importance State regulation introduces additional uncertainty to the foreign trade sphere and expands the range of risks that accompany international contracts. Events causing the violation of currency legislation in terms of the volume and date of export revenue transfer to authorized banks' accounts are totally unacceptable for exporters.
Objectives The purpose of the study is to identify triggers of violation of statutory regulations on repatriation of currency revenues from exports, analyze possible measures preventing or minimizing the damage caused by exporter risk realization associated with the said events.
Methods The study rests on works addressing the analysis of foreign trade under currency regulation of export operations. We also employ the systems approach, generalization method, logical analysis, and elements of the management theory.
Results The paper unveils the nature and mechanism of relationship between interrelated risks associated with violation of currency legislation in export transactions on payment-after-delivery terms, defines forms of commodity and financial flow distortion, reveals factors causing inadequate coordination of counter flows of benefits. We analyze variants of financial flow response to commodity flow distortion and offer measures to manage interrelated risks.
Conclusions Interrelated risk management requires additional organizational arrangements from exporters. In some cases, it is advisable to reconsider traditional insights in the choice of delivery terms.

Keywords: currency regulation, equilibrium criterion, counter obligation, interrelated risks, flow distortion


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