Assessment of joint stock companies finance security risks in Ukraine

Abstract

Development of modern theoretical and methodological approaches and practical recommendations, which would take into account the specifics of the functioning of the financial system of Ukraine in general and its key elements under conditions of formation of a democratic society, macro-financial instability and geopolitical challenges, may ensure the financial security of joint-stock companies in the context of adapting them to the current realities of financial and economic activities. This paper analyzes the financial security risks of joint-stock companies by their individual components, which are manifested in the decrease or increase of the values of the respective indicators relative to the optimal ones, established by the questionnaire, and identified risk-forming factors. The emphasis is placed on the need to evaluate the extent of the impact of comprehensive restraining and stimulating financial risk to reflect the efficiency of formation and use of financial resources of joint-stock companies. Despite this, the need to determine the integrated financial risk, which shows the magnitude of the reduction of the desired level of financial security for a certain period, is justified. Developed and tested complex methodological approach for the analysis of financial risks of joint-stock companies under the uncertain conditions and lack of statistical data for analysis, is a symbiosis of normative and fundamental approaches and substantiated by the synthesis of statistical, expert methods of scientific research and basic provisions of fuzzy logic theory. Using this approach allows us to identify and clearly visualize the scope of risk, to assess the extent of the impact of particular risk factors in a specific period and to determine the integral amount of risk, which allows to calculate the degree of reduction of financial security of joint-stock companies over a period of time.

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