scholarly journals International trade risk management under the impact of globalization

2021 ◽  
Vol 111 ◽  
pp. 01016
Author(s):  
Mariia Nezhyva ◽  
Olha Zaremba ◽  
Viktoriia Mysiuk
Keyword(s):  
Risk Management ◽  
International Trade ◽  
Open Economy ◽  
Management Plan ◽  
Business Environment ◽  
Economic Security ◽  
Doing Business ◽  
Risk Management Process ◽  
Assessment Approach ◽  
The Impact

Doing business in condition of international trade, a stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism to understand the strengths and weaknesses of an operating environment and for strategic investment decisions. In terms of open economy and globalization trends, business faced a lot of different challenges with their specific risks, hence an effective risk assessment approach and management is extremely vital for economic security of business and especially for all country doing business with other countries trying to succeed. The article presents risk management plan content that helps to structure business risk management process and provide with the measures how to deal with risks.

scholarly journals Trade credit, trade income elasticity and the international transmission of shocks

2021 ◽  
Author(s):  
Anna Watson
Keyword(s):  
International Trade ◽  
Open Economy ◽  
Trade Credit ◽  
Income Elasticity ◽  
Heterogeneous Firms ◽  
Firm Level ◽  
Macroeconomic Shocks ◽  
Cyclical Fluctuations ◽  
Irish Data ◽  
The Impact

AbstractThe paper examines the impact of trade credit on cyclical fluctuations in international trade. It provides new empirical evidence based on firm-level UK and Irish data showing that exporters use trade credit more actively and intensively than non-exporters. The study introduces inter-firm lending into an open economy general equilibrium model with heterogeneous firms and endogenous entry into the exports market. It demonstrates that trade credit amplifies the impact of macroeconomic shocks on international trade both along the intensive and extensive margins and that it significantly contributes to the high trade income elasticity observed in the data.

scholarly journals The impact of internal audit in the activation of risk management under the governance of banks

2019 ◽  
Vol 5 (4) ◽  
pp. 7
Author(s):  
Afsar Ali Alimoradi ◽  
Chya Kareem Ahmad
Keyword(s):  
Risk Management ◽  
Internal Audit ◽  
Secondary Data ◽  
Internal Auditing ◽  
Audit Risk ◽  
Internal Auditor ◽  
Risk Management Process ◽  
Statistical Program ◽  
Bank Governance ◽  
The Impact

The research aims to measure and evaluate the impact of internal audit on the efficiency of risk management under the principles of the bank governance in a sample of banks. Thus, internal audit is an important function of controlling financial and administrative performance. It has the impact of evaluating and measuring the efficiency of the use of available resources and strengthening the so-called governance as well as contributing to the assessment and management of risks, which enhances the opportunities of economic units and banks in the optimal use of resources.Internal Audit assists senior management and the board in the process of  theidentifying, assessing and responding to risks, by providing various assurance and advisory services during the implementation of the risk management process. In order to achieve the objectives of the study and test its hypotheses, the study was based on primary and secondary data and the questionnaire was designed and the researchers used the Statistical Program (SPSS) to analyze the data. It was concluded during the research that there is a clear impact of the internal audit profession on the risk management by improving its effectiveness and efficiency under the principles of bank governance shows through the internal audit has a prominent position in banks and because it is linked to the highest levels of management as an independent control and advisory tool. The researchers present a set  of recommendations, the most important of which is the need to provide adequate financial and human resources for internal auditing in banks. The study also recommended to strengthen the components of the independence of the internal auditor in order to be able to perform his duties to the fullest. Key words :  Internal Audit , Risk Management , Banking Governance, Internal Auditor.

scholarly journals Strategic company management in the digital business environment

2018 ◽  
Vol 26 (3-4) ◽  
pp. 82-91
Author(s):  
Mykola Gennadiyovych Nikolaev
Keyword(s):  
Strategic Management ◽  
Industrial Revolution ◽  
Design Method ◽  
Business Environment ◽  
Future Research ◽  
Digital Environment ◽  
Doing Business ◽  
Analysis And Synthesis ◽  
Modern Business ◽  
The Impact

Purpose – to analyze strategic company management in the digital business environment. Design/Method/Approach. General scientific methods are applied: systematization, comparison, generalization, analysis, and synthesis. Findings. The essence of strategic management and its significance to a company has been analyzed. The relationship between strategic company management and digital business environment has been elucidated. Basic trends for doing business in the digital environment have been defined. Theoretical implications. Theoretical significance of the research is in the advancement of opinion on the strategic company management in digital business environment. Practical implications. The practical value of the research is in the possibility of applying the results obtained by both international and domestic companies for strategic management in the digital business environment that emerged as a result of the Fourth industrial revolution. Originality/Value. The main trends of modern business in the digital environment have been identified. The choice of strategies of multinational companies has been identified, as well as the areas of their application in digital business environment. Research limitations/Future research. The prospects for further research are to study the strategic management of international companies and analyze the impact of digital business environment on their development. Paper type – theoretical.

scholarly journals Identification and Qualitative Evaluation of Risk Factors in the Construction Projects in Iraq

2021 ◽  
Vol 14 (2) ◽  
pp. 91-101
Author(s):  
Noor Aletby ◽  
Hafeth Ibrahim
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Construction Projects ◽  
Qualitative Evaluation ◽  
Qualitative Assessment ◽  
Management Process ◽  
Risk Management Process ◽  
Questionnaire Method ◽  
High Level ◽  
The Impact

Construction projects in Iraq face many dangers that cause exceeding the estimated cost of the project and not completing the project on time, and since the risk management process in construction projects is of great importance in controlling and reducing the impact of risks in construction projects, so it is necessary to identify these risks and evaluate them correctly in order to increase accuracy and the health of the subsequent stages of the risk management process in construction projects. This paper aims to identify the most important risks in construction projects in Iraq and to conduct a qualitative assessment of the identified risks and arrange them according to their importance. The researcher adopted the questionnaire method as a tool to determine the risks and used the technique of probability and effect matrix to conduct the qualitative assessment of the identified risks. The study found that there are 48 risk factors that constitute the most dangerous factor in construction projects in Iraq, and 10 of the determining factors were within the high level of risk, and at the forefront of which was the inability of the owner to finance the project.

scholarly journals The impact of crisis situations on business safety

2020 ◽  
pp. 25-27
Author(s):  
Olha YARMAK
Keyword(s):  
Foreign Currency ◽  
Business Environment ◽  
Public Authorities ◽  
The Third ◽  
Doing Business ◽  
Capital Outflows ◽  
The Stability ◽  
Restrictive Measures ◽  
The Impact ◽  
Crisis Situations

Introduction. The article deals with the issues of doing business in crisis situations. The main directions of the influence of crisis situations on the activities of the enterprise at different levels are considered. The factors of influence of the coronavirus on the economy of both the enterprise and the country have been determined. The purpose of the paper is to clarify the factors that may affect the safety of doing business today and provide recommendations for improving the company's activities. These recommendations will increase the efficiency of the enterprise by increasing the stability of the organization. Among the dangerous factors, increased attention is paid to the coronavirus epidemic. Results. There are five dangerous factors for the Ukrainian economy in this situation. The first factor is the impact of the pandemic on micro- and macroeconomic processes. The second factor is the falling incomes and deteriorating business environment. The third factor is the increase in capital outflows from the country. The fourth factor is the strengthening by the state of restrictive measures for the population and enterprises. The fifth dangerous factor is the low level of trust of entrepreneurs in public authorities. Conclusion. Despite all the measures taken, it is currently difficult to assess the real scale and consequences of COVID-19 and other crises for the economy of Ukraine and the world. To date, there is a deterioration of the epidemiological situation in the country. There is also a deterioration in the economic situation of both the country as a whole and individual enterprises. We will be able to see soon how Ukraine will survive this pandemic and what damage will be done to the economy. But the use of the proposed measures will reduce the company's losses from dangerous situations. The impact of the first factor will lead to difficulties in international trade and relocation of personnel. The second factor warns of declining business incomes that have not adapted to quarantine conditions. Counteracting this factor involves the maximum use of remote labor and e-commerce. When forecasting the consequences of the third factor will reduce the supply of foreign currency, which makes the national currency unstable and leads to its depreciation. The action of the fourth factor will lead to a significant complication in the organization of the production process. There may be difficulties in finding and hiring staff, the situation on the labor market will change. The influence of the fifth factor will lead to the fact that the organization can not adequately and effectively respond to external influences.

Comparing co-production approaches to dynamic risk assessments in a forensic intellectual disability population: outcomes of a clinical pilot

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Deborah J. Morris ◽  
Elanor L. Webb ◽  
Inga Stewart ◽  
Jordan Galsworthy ◽  
Paul Wallang
Keyword(s):  
Risk Management ◽  
Intellectual Disability ◽  
Management Plan ◽  
Risk Assessments ◽  
Risk Management Plan ◽  
Convenience Sample ◽  
Content Type ◽  
Dynamic Risk ◽  
Management Plans ◽  
The Impact

Purpose A co-produced clinical practice that aims to improve outcomes through a partnership with service users is becoming increasingly important in intellectual disability (ICD) services, yet these approaches are under-evaluated in forensic settings. This study aims to explore and compare the feasibility of two approaches to co-production in the completion of dynamic risk assessments and management plans in a secure setting. Design/methodology/approach A convenience sample of adults admitted to a secure specialist forensic ICD service (N = 54) completed the short dynamic risk scale (SDRS) and drafted risk management plans under one of two conditions. In the first condition, participants rated the SDRS and risk management plan first, separately from the multidisciplinary team (MDT). In the second condition, participants and MDTs rated the SDRS and risk management plan together. Findings In total, 35 (65%) participants rated their risk assessments and 25 (47%) completed their risk management plans. Participants who rated their risk assessments separately from the MDT were significantly more likely to complete the SDRS (p = 0.025) and draft their risk management plans (p = 0.003). When rated separately, MDT scorers recorded significantly higher total SDRS scores compared to participants (p = 0.009). A series of Mann-Whitney U tests revealed significant differences between MDT and participant ratings on questions that required greater skills in abstraction and social reasoning, as well as sexual behaviour and self-harm. Originality/value Detained participants with an intellectual disabilities will engage in their dynamic risk assessment and management plan processes. The study demonstrates the impact of different co-production methodologies on engagement and highlights areas for future research pertaining to co-production.

Risk disclosure and risk governance characteristics: evidence from a developing economy

2020 ◽  
Vol 28 (4) ◽  
pp. 577-605 ◽  
Author(s):  
Shamsun Nahar ◽  
Mohammad Istiaq Azim ◽  
Md Moazzem Hossain
Keyword(s):  
Risk Management ◽  
Developed Countries ◽  
Business Environment ◽  
International Standards ◽  
Risk Governance ◽  
Developing Economy ◽  
Risk Disclosure ◽  
Content Type ◽  
Governance Practices ◽  
The Impact

Purpose The purpose of this paper is to explore to what extent risk disclosure is associated with banks’ governance characteristics. The research also focuses on how the business environment and culture may create a bank’s awareness of risk management and its disclosure. This study is conducted in a setting where banks are not mandated to follow international standards for their risk disclosures. Design/methodology/approach Using 300 bank-year observations comprising hand-collected private commercial bank data, the study uses regression analysis to investigate the influence of risk governance characteristics on risk disclosure. Findings This paper reports a positive relationship between risk disclosure and banks’ governance characteristics, such as the presence of various risk committees and a risk management unit. Practical implications Because studies are lacking on risk disclosure and risk governance conducted in developing countries, it is expected that this research will make a significant contribution to the literature and provide a foundation for further research in this field. Social implications This study complements the corporate governance literature, more specifically the risk governance literature, by incorporating agency theory, institutional theory and proprietary cost theory to provide robust evidence of the impact of risk governance practices in the context of a developing economy. Originality/value Previous studies on risk disclosure and governance determinants primarily involve developed countries. This paper’s contribution is to examine risk disclosure and risk governance characteristics in a developing country in which reporting according to international standards is effectively voluntary.

scholarly journals MANAGING RISK WITH THE USE OF COMPUTER SIMULATION

2021 ◽  
Vol 2 ◽  
pp. 17-23
Author(s):  
Monika Bučková ◽  
Miroslav Fusko ◽  
Gabriela Gabajová ◽  
Martin Gašo ◽  
Branislav Mičieta ◽  
...  
Keyword(s):  
Computer Simulation ◽  
Risk Management ◽  
Simulation Model ◽  
Action Plan ◽  
Business Environment ◽  
Global Business ◽  
Risk Management Methodology ◽  
External Risk ◽  
Managing Risk ◽  
The Impact

Internal and external risk management has become an important issue in today's global business environment, which is fraught with health, natural, political, economic and technical threats. This article deals with the design of a methodology for problem-solving and risk management in connection with computer simulation. The risk management methodology proposed by us consists of individual steps, which are summarized into three stages - risk assessment, risk analysis and risk management. The proposed computer simulation methodology consists of several steps, for example creating a parametric simulation model, designing experiments, analysis of the simulation model results or the evaluation of the simulation results. These steps are described in the article. After completing the previous steps, we describe the points of an action plan and what it must contain to avoid consequences and the impact of risks at the lowest possible level. An example of the use of computer simulation is the risk situation associated with the fluctuation of employees. In the end, the proposed methodology is supported by the results of our research and its further direction.

scholarly journals Improvement of analytical support of economic security management of the agricultural enterprises

2021 ◽  
Vol 7 (3) ◽  
pp. 123-141
Author(s):  
Stanislav Vasylishyn ◽  
Oleksandr Ulyanchenko ◽  
Tetiana Bochulia ◽  
Yuliia Herasymenko ◽  
Oleksandr Gorokh
Keyword(s):  
Methodological Approach ◽  
Security Management ◽  
Business Environment ◽  
Economic Security ◽  
Practical Significance ◽  
Integral Approach ◽  
Accurate Information ◽  
Social Resource ◽  
Agricultural Enterprises ◽  
The Impact

Purpose. Under the conditions of strengthening of the destructive effects of the global economic crisis and the growing number of risks of agribusiness, there is a problem in finding the ways to improve accounting and analytical support as the only reliable source of the relevant and accurate information needed for economic security management. The purpose of the article is to substantiate the directions to improve the analytical basis as a component of accounting and analytical support of economic security management of the agricultural enterprises. Methodology / approach. The methodological basis of the research is a dialectical method of cognition of the complex economic phenomena. Consideration of the analytical support of complex management processes took place using a systematic approach, analysis and synthesis. Using an integral approach, a methodology for assessing and analyzing economic security of the agricultural enterprises is developed. This methodology approach includes the parameters of financial, social, resource and environmental security. Results. The analysis of the theoretical and methodological foundations of accounting and analytical support of economic security management showed a variety of the approaches to the choice of the indicators that describe the level of economic security. The situation is complicated by the need to analyze the information that may be relevant for management decisions in conditions of uncertainty. Under these conditions, it is proposed to implement a model of analytical support for economic security management under conditions of uncertainty and growing risks and threats to the business environment of the agricultural enterprises, which should be based on the use of general economic, statistical, integral and econometric approaches. It is determined that in the process of counteracting the risks and threats of the external and internal environment of the agrarian business the use of the integral methods of assessing economic security of the agricultural enterprises becomes crucial. It is substantiated that the most expedient in terms of achieving strategic goals of the enterprise, maintaining its competitive advantages and ensuring sustainable development is the use of integral assessment of economic security, which should be based on a synergistic approach to analysis of 25 indicators of financial, social, resource and environmental components. The approach was tested on the example of 24 agricultural enterprises of Kharkiv region (Ukraine) of crop specialization (2019). The model is also used to analyze the dynamics of the level of economic security under conditions of individual agricultural enterprises of different organizational and legal forms of management (2014–2019).  Originality / scientific novelty. According to the results of the research, a methodological approach to determination of the integral level of economic security of the agricultural enterprises has been improved, based on the impact of the indicators of its individual components, which, at the same time, improves the analytical support of economic security management and strengthens verification, forecasting, preventive, planning and control functions of accounting and analytical support of management mechanisms. Practical value / implications. The practical significance of the proposed approaches consists of the possibility of positioning the enterprises in terms of optimal, satisfactory, shaky and crisis economic security zones, as well as analyzing the dynamics of the integral level of economic security, which takes into consideration the causal relations of the key areas of the agrarian business under conditions of uncertainty.

scholarly journals THE EFFECT OF MANAGING RISK PROCESS IN CONSTRUCTION PROJECTS

2020 ◽  
Vol 5 (4) ◽  
pp. 101-114
Author(s):  
Khanm Noori Kaka HamaAttar
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Theoretical Aspect ◽  
Risk Process ◽  
Risk Identification ◽  
Management Process ◽  
Risk Management Process ◽  
Risks Assessment ◽  
Managing Risk ◽  
The Impact

The aim of this study is to get a better understanding for the effect of the set of the risks in the construction projects, in addition to how mitigating these risks in those projects. Indeed risks are frequently playing the same rules, but the nature of project defines the specific risks of the project. The first step in process of risks assessment is identification them. Once risk identification is complete, risk analysis is used to identify the likelihood the risks that have been identified will happen. Thus by using evidence from other research in the area, this study showed the impact of the set of the stages in the risk management process in the construction projects, which were discussed in greater detail in the theoretical aspect of the current study. The findings of the study were revealed the fact that the comprehension of risk and its management has the direct effect of understanding specific issues that involve to the project. In addition to that, the integration of a risk management process at each stage of its stages in construction projects must be oriented to the progress of the project and permeate all areas, functions and processes of the project. In this regard, the most successful project managers maintain open lines of communication throughout their organizations to stay in touch with constituent’s needs.

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