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Financial Analytics: Science and Experience
 

Financial analytics of risk management: summary and development of expertise

Vol. 8, Iss. 25, JULY 2015

PDF  Article PDF Version

Received: 13 May 2015

Accepted: 25 May 2015

Available online: 19 July 2015

Subject Heading: RISKS, ANALYSIS AND EVALUATION

JEL Classification: 

Pages: 55-67

Astrakhantseva I.A. School of Economics and Commerce of Siberian Federal University, Krasnoyarsk, Russian Federation
astrahantsevaia@gmail.com

Koyupchenko I.N. School of Economics and Commerce of Siberian Federal University, Krasnoyarsk, Russian Federation
kinkras@gmail.com

Importance In the period of economic instability, the financial management vector in any enterprise is aimed at ongoing development of financial resources and maintenance of the balance between cash flows and financial indicators. The research focuses on these issues.
     Objectives The purpose of this article is to reveal problems and concerns of using risk management techniques while developing financial management tactics in the existing entities. Setting up financial goals and objectives can be very peculiar, since the financial department follows strategic plans adjusted for the financial crisis at this stage of business planning. If enhancement of the relationship between the strategy and tactics is not taken into account, the financial strategy will lose its relevance. The objective of the study is to demonstrate the role of financial analytics when implementing risk management experience of entities, which successfully passed the previous economic development stages during the crisis, into the financial practice of the current period.
     Methods The methodological basis of this study consists of the basic financial management concepts, including the leverage concept, concept of the cost and structure of capital, concept of the balance between risk and profitability, as well as the modern theory of economic value added.
     Results We articulate recommendations for identifying financial risk in accordance with the corporate financial model, and systematize methodological bases for applying the quantitative method to assess the tolerable risk level.
     Conclusions and Relevance Currently, objective and biased risk factors have an increasing effect, thus requiring prompt operational financial decisions as part of risk management. The methodological approach, as presented in the article, allows meeting actual operational needs of modern companies during economic volatility and keeps the potential for development and economic growth in the mid run.

Keywords: financial management, invested capital, cost of capital, financial risk, liquidity cushion

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