risk

Risks of Global Economy

The problem of the globalization of risks is examined in this article. The author considers one of the global risks is migratory risks. In the article the author analyses the migratory risks and their influence on global economy.

Technological Modernization as a Driver of Development of the Russian Federation

The article deals with the pressing economic problems, macroeconomic conditions and controls that ensure the dynamic development of a national industrial and technological modernization of the economy the Russian Federation.

Optimizing of Selection of Public Procurement Vendor Based on the Risk Management Methodology

Introduction. Under globalization, the current international political and economic relations, the Russian Federation is changing to a new state policy in the field of system modernization of public procurement. Theoretical analysis. The development of predominantly market-based mechanisms of regulation, liberalization of the economy along with degradation of the regulatory role of state governance structures lead to increased risks in public procurement. Individual problems and contradictions in the system of public procurement are due to the lack of proper methodological apparatus to estimate the effect of risk. Methods. As a result of our optimization statement of the problem of selection of an executor of public orders, an algorithm and a system of mathematical models of choice of potential suppliers considering the collective evaluation of the risk category are proposed. A distinctive feature of the proposed method is the use of techniques to allow for maximum relations among the basic elements in a risky situation (alternatives, the probability of achieving the result desired, uncertainty, the possibility of deviation from the intended purpose). Results. The proposed approach makes the necessary prerequisites for the establishment of effective barriers for fraud and incompetent agents to enter the system of public procurement, both as suppliers and customers, through our selection mechanisms developed. Conclusion. The future direction of development of the methodology seems to justify the qualification requirements for suppliers, including the availability of necessary professional and technical qualifications, financial resources, equipment, labor and other material resources for the execution of contracts, work experience.

Risks of the Interaction among the Subjects in the Science – Business — State System in the National Economy

Introduction. The process of interaction of economic subjects of the national innovative system proceeds in the conditions of uncertainty at any level. Risks therefore exist. Risk identification and competent risk management are necessary to ensure the stability of economic subjects themselves and the whole system formed as a result of the interaction among these subjects. Theoretical analysis. On the basis of generalization of the existing theoretical researches on the problem of economic risks, the paper differentiates such concepts as risk and uncertainty, systematizes economic risks, and provides the author’s treatment of the “risk of interaction” category. Discussion. The result of the research conducted is identification of most topical and significant (for the modern economy) risks of interaction among main actors of the national innovative system (science, business, and the state). Among which, the development rate loss risk of an economic subject, the risk of economic losses as a lost profit and a half-received income, the risk of unclaimed training courses, the risk of increased budgeted expenses, low rates of the economic growth, and the risk of loss of the stability of a system.

Trends in the Development of the Russian Insurance Market

The article examines the trends in the Russian insurance market from 2005 to 2012. The paper presents the characteristics of Russian insurance companies are analyzed following data: the number of insurance organizations, the average number of insurance agents, the number of contracts, reviewed the financial performance of insurance companies from 2005 to 2012. Theoretical analysis. The paper shows that the collected insurance premiums are higher in mandatory insurance than in voluntary insurance. Results. The reason for this situation is the easier collection of insurance premiums in mandatory insurance. The authors identified and explained the reasons for the changes in the insurance market of Russia, during the financial crisis and after the crisis. Conclusions. The authors highlighted the need for modernization of the insurance business, reducing costs, improving attractiveness, quality insurance products, enhancing the competitiveness of the insurance companies. All of this research is the directions of improvements of insurance companies’ activity in the future and it will improve Russia’s practice of ensuring the financial sustainability of the insurance services’ portfolio.

Indicator Method as an Instrument to Ensure Financial Security of an Economic Entity

Introduction. Any enterprise’s functioning in a market economy entails internal and external risks. Reducing their impact or leveling ensures a long-term existence of the business. In this view, the subject of the study is relevant. Theoretical analysis. The theoretical and methodological basis of the study was the works of Russian and foreign researchers in the field of economic and financial security. During the critical study of scientific publications it was determined that the interpretation of the financial security of enterprises definition is considered in terms of several approaches: complex, resource, financial. It was also found during the study that threats to financial security have a direct impact on production, personnel, information, etc. Empirical analysis. The main methods of research were analysis and synthesis, as well as the method of generalizing indicators. In the course of the study, it was found that the analyzed enterprise uses only quantitative indicators for evaluation, which are unable to identify most threats to financial interests. As a result, an open list of qualitative indicators was proposed that could assess the level of financial security. Results. The construction of the financial security risk matrix allowed us to establish that the total cost of implementing all risks per year can reach 90 million rubles, which is about 9% of the property of the enterprise. Having assessed the risks of financial security, we recommended that the management of the enterprise should pay attention to the realization of the profits loss risks due to the unstable position of suppliers and contractors in the market or the termination of their activities.

Features of “Risk” and its Manifestation in the Performance of the Court’s Procedural Duties

Introduction. Solving specific social and important tasks, industry legislation and law enforcement practice did not develop a unified approach to the definition of “risk”, which is predetermined by its versatility and its ambiguous interpretation in scientific works and modern legislation.

The aim of the study is to develop theoretical provisions that reveal the features of risk in civil proceedings. The author pays special attention to the most controversial features of risk – its applicability to the actions of the court, performing procedural duties. The article draws attention to the meaning of “risk” in the scientific and empirical aspects. The dialectical analysis allowed to evaluate the results of lawmaking and judicial law enforcement, historical and comparative methods of scientific knowledge contributed to an objective assessment of the quality of the current procedural legislation, the system method allowed to interpret the categorical apparatus on the example of the study of “risk”, the method of legal modeling served as a justification for proposals to improve the legislation.

Results. Risk is a category specific not only to the identification of the interest of the persons involved in the case. Risk, having an objective and subjective justification, is a fundamental category of procedural law, in which the freedom of choice of subjects of law is not limited only by permissible and administrative means, but it is justified by regulatory requirements for the obliged subjects. The traditional provision of procedural legislation on the procedural risks of the parties and other persons involved in the case is quite common and applicable for the court performing procedural duties.

Conclusion. In some cases, the reference to legislation providing for “risk” for the subjects of law is not always well-founded and reflects its ontological nature. The category “risk”, having a wide purpose in procedural law, expresses an example of the dispositivity of the Russian civil procedural legislation with the peculiarities of its legal regulation of certain legal institutions, on the one hand, and the procedural impossibility of determining the consequences of a legal action that may occur for the subjects of law applying it, on the other hand.

Risks of Commercial Banks: the Regional Aspect of the Example Saratov Region

Introduction. Modern Russian banking system is going through a difficult period of reform and global change. Status of the Russian banking system reflects the general state of the economy and the financial sector of the country and the world. It is characterized by low immunity to numerous, including systemic risk, low maneuverability in a high level of uncertainty. All these factors reduce the functional capacity of the Russian banking system as a whole. Theoretical analysis. Risk management – a process consisting of five steps: risk identification, assessment and analysis, decision making, maximizing the positive and minimizing the negative consequences, monitoring, promoting a culture of risk management in the company. Empirical analysis. The position of regional commercial banks in the Saratov region in a difficult economic situation, however, is complicated by the high risk of external and internal environment. For the development and expansion of possibilities of lending to small and medium-sized enterprises must be at the federal level to facilitate regional commercial banks to access credit refinancing. One of the concrete actions can be a reference to federal regulators to allow banks to hold assets in a regional repository. Results. Further updating of risk categories allowed to evaluate and present ranked critical risks that are typical for the activities of the regional commercial bank.

Actuality of the Study of Economic Safety of the Enterprise in the Face of Global Economic Instability

Introduction. The theme of economic security is of increasing importance, the very dynamic, contradictory trends and developments in the modern world. Theoretical analysis. The problem of global economic security for our country. The global financial crisis raises the issue of the formation of a new concept of economic security that guarantees the independence of the country and its stability, improving the quality of life of the people, the development of science and technology. The purpose of the article is to analyze the national economic security at all levels of management, and pay particular attention to the economic security of business activity, as the stability of the State’s economic development depends on the economic security of every enterprise. It is crucially important to reveal the essence of the problem and related issues, to identify real threats to offer reliable and efficient methods of solving them. Results. Identified the essence and structure of economic security. Investigated the institutional aspects of economic security at all levels of management. Identifies internal and external threats to economic security, entrepreneurial activity and suggest ways of overcoming them. You must create a discussion platform to discuss issues of economic security of Russia, which in turn will not only identify problems but also to find a way out of them.

Investment Portfolio Risk Assessment on the Basis of Hierarchical Model

Introduction. Efficiency of investments is an important factor at the micro- and macroanalysis of economy, investment in venture capital depends on the development of firms, regions, States. Especially actual this problem for portfolio investment. The aim of this work is to develop a new minimax method for modeling the dynamics of risk of portfolio investment, which allows to assess the distribution of equity is a structural component of a financial portfolio.

Methods. Suggested new method for modeling and rationalizing the structure of equity investments using the minimax criterion. Drill through the decision of the investor as from the original portfolio preferences, specific risk assessments for each lower level in the hierarchy (topdown) and a calculation of expediency of inclusion in the portfolio of each asset of the lower level, with specific risk assessments (bottomup), which is consistent with the approaches of fundamental analysis of securities market. Provided step-by-step algorithm for grouping, clustering and data analysis along the branches of the hierarchy.

Results. Is developed the scheme the implementation of the model for a three-tier structure for complete binary decision tree. Is given the iterative computational algorithm and its implementation.

Conclusion. The recommendations can be applied to rationalize the funding of innovations that improve the quality of development of regions in the rehabilitation plan for selected executives of corporate sector.

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