+7 495 989 9610, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
International Accounting
 

On the economic definition of treasury risk

Vol. 18, Iss. 28, JULY 2015

Received: 5 August 2015

Accepted: 10 August 2015

Available online: 15 September 2015

Subject Heading: FINANCIAL ACCOUNTING

JEL Classification: 

Pages: 12-20

Danilenko N.I. Nosov Magnitogorsk State Technical University, Magnitogorsk, Chelyabinsk Oblast, Russian Federation
danilenko-nikolay@mail.ru

Importance Currently, there is a theoretical and methodological need for scientific researches into the nature and specifics of treasury risks, appropriate methodology and methodological instruments to manage the risks as part of operations of bodies of the Federal Treasury.
     Objectives The research specifies the definition of treasury risk, figures out structural components and prevailing characteristics. The article provides the theoretical explanation of the treasury risk, its structure in line with the specifics of this economic category.
     Methods I resorted to economic data collection and processing methods, analysis, comparison and monitoring of scientific concepts set forth in proceedings on the theory of risk by national foreign scholars.
     Results Based on the theoretical analysis, generalization and systematization of relevant materials, I specified the framework and concept of the treasury risk and its prevailing signs. I identified treasury risk factors, proposed methodological approaches to systematizing the main treasury risks. Upon theoretical generalization, I determined the main phases of the institutional approach to building the risk-oriented model of treasury control and implementing it into the governance mechanism.
     Conclusions and Relevance The treasury risk represents a financial risk of the biased nature that may cause services of the Federal Treasury to deviate from standards. The theoretical and methodological basis and methodological tools will allow reducing errors, managing treasury risks effectively and becoming an effective tool for making budgetary resources and the Federal Treasury management more efficient.

Keywords: treasury risk, risk factor, financial risk, activity, Federal Treasury

References:

  1. Shapkin A.S., Shapkin V.A. Ekonomicheskie i finansovye riski. Otsenka, upravlenie, portfel' investitsii [Economic and financial risks. Assessment, management, investment portfolio]. Moscow, Dashkov i K Publ., 2012, 544 p.
  2. Tsakaev A.Kh. Ekonomicheskaya effektivnost' upravleniya riskami: pokazateli i kriterii [Economic efficiency of risk management: indices and criteria]. Marketing v Rossii i za rubezhom = Marketing in Russia and Abroad, 2011, no. 2, pp. 8–17.
  3. Romanov V.S., Butukhanov A.V. Riskoobrazuyushchie factory: kharakteristika i vliyanie na riski. V kn.: Mezhdunarodnaya nauchnaya shkola MA BRK-2001 [Risk factors: characteristics and impact on risks. In: Proceedings of the International Scientific School MA BRK-2001]. St. Petersburg, Omega Publ., 2001, pp. 222–225.
  4. Bernstein P. Protiv bogov: ukroshchenie riska [Against the Gods: The Remarkable Story of Risk]. Moscow, Olimp-Biznes Publ., 2000, 400 p.
  5. Slepukhina Yu.E., Chashchin V.V. Kategoriya finansovogo riska: priroda vozniknoveniya, mekhanizm upravleniya, prostranstvo vozmozhnykh sostoyanii finansovykh rynkov [The category of financial risk: the nature of its origination, management mechanism, possible state space of financial risks]. Yekaterinburg, Eks-Press Publ., 2003, 56 p.
  6. Slepukhina Yu.E. Risk kak ekonomicheskaya kategoriya: raspredelenie i pereraspredelenie riskov v strakhovanii [Risk as an economic category: allocation and reallocation of risks in insurance]. Strakhovoe delo = Insurance Business, 2008, no. 9, pp. 52–60.
  7. Kostov T.V., Naumenko V.V., Smirnov S.N. Izmerenie riska i upravlenie portfelem v usloviyakh nizkoi likvidnosti [Risk assessment and portfolio management under low liquidity]. Upravlenie riskom = Risk Management, 2009, no. 3, pp. 66–71.
  8. Madera A.G. Riski i shansy: neopredelennost', prognozirovanie i otsenka [Risks and chances: uncertainty, forecasting and assessment]. Moscow, URSS Publ., 2014, 448 p.
  9. Kornilova T.V., Grigorenko E.L., Smirnova S.D. Podrostki gruppy riska [Adolescents within a risk group]. St. Petersburg, Piter Publ., 2005, p. 5.
  10. Nikulina N.N., Sukhodoeva L.F. Risk-menedzhment v strakhovom predprinimatel'stve [Risk management in insurance business]. Strakhovoe delo = Insurance Business, 2012, no. 4, p. 56.
  11. Prokopovich D.A. Problemy sochetaniya tsentralizovannogo upravleniya kholdingom so stremleniem snizit' riski [Issues of combining centralized management of the holding and an intention to mitigate risks]. Menedzhment v Rossii i za rubezhom = Management in Russia and Abroad, 2002, no. 2, p. 11.
  12. Al'gin A.P. Risk i ego rol' v obshchestvennoi zhizni [Risk and its role in public life]. Moscow, Mysl' Publ., 1989, 188 p.
  13. Knight F.H. Risk, neopredelennost' i pribyl' [Risk, Uncertainty and Profit]. Moscow, Delo Publ., 2003, p. 320.
  14. Van Greuning H., Bratanovic S.B. Analiz bankovskikh riskov. Sistema otsenki korporativnogo upravleniya i upravleniya finansovym riskom [Analyzing Banking Risk. A Framework for Assessing Corporate Governance and Financial Risk]. Moscow, Ves' mir Publ., 2003, p. 177.

View all articles of issue

 

ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

Journal current issue

Vol. 24, Iss. 11
November 2021

Archive