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National Interests: Priorities and Security
 

On management of financial risks in legal entities of public law

Vol. 11, Iss. 48, DECEMBER 2015

PDF  Article PDF Version

Received: 7 September 2015

Accepted: 21 September 2015

Available online: 27 December 2015

Subject Heading: ECONOMIC SECURITY

JEL Classification: 

Pages: 42-52

Aleksandrova O.G. Ulianov Chuvash State University, Cheboksary, Chuvash Republic, Russian Federation
knedlix@yandex.ru

Importance The article examines the process of generating scientific knowledge of the specifics of the mechanism for regulating financial risks in legal entities of public law. The research focuses on scientific approaches to forming the risk management mechanism in the public sector.
     Objectives The research helps to understand to what extent scientific literature scrutinizes issues of managing financial risks in legal entities of public law.
     Methods I applied deconstruction of scientific texts, aspectual and hermeneutic analysis. To formulate my own point of view, I used methods of critical, problem and comparative analysis.
     Results I point out two key approaches to studying separate aspects of managing financial (budgetary) risks during instability. Provisions for formulating a comprehensive mechanism for managing financial risks in legal entities of public law are not completely formalized, and need to be specified, complemented, and accommodated for general provisions on budgetary risk management. It is necessary to specify approaches to managing other types of financial risks associated with legal entities of public law.
     Conclusions and Relevance The research line seems to be a promising aspect in terms of science and practice. Results will allow determining activities to increase the economic security of legal entities under public law by ranking them in line with their exposure to various financial risks.

Keywords: financial management, risk management, budgetary risks, economic security, scientific approaches

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