ASSESSMENT OF THE COMPANY'S FINANCIAL SECURITY

2020 ◽  
Author(s):  
Юлия Сергеевна Холопова ◽  
Алексей Георгиевич Ильмушкин
Keyword(s):  
Economic Security ◽  
Competitive Environment ◽  
Main Element ◽  
Financial Security ◽  
Financial Condition ◽  
Financial Interests ◽  
The Stability

Финансовая безопасность предприятия - основной элемент экономической безопасности. Именно от нее зависит стабильность работы организации, ее финансовые интересы, возможность развития и роста в условиях жесткой конкуренции. В статье определено интегральное значение финансовой безопасности конкретного предприятия, сформулированы приоритетные направления укрепления его финансового состояния. Financial security of an enterprise is the main element of economic security. It determines the stability of the organization, its financial interests, and the possibility of development and growth in a highly competitive environment. The article defines the integral value of the financial security of a particular enterprise, and sets out priority directions for strengthening its financial condition.

scholarly journals THE THEORETICAL BASIS OF ENTERPRISE FINANCIAL SECURITY AND THE MECHANISM OF ITS MANAGEMENT

2019 ◽  
pp. 80-87
Author(s):  
N. Pihul ◽  
A. Khomutenko
Keyword(s):  
Financial Analysis ◽  
Security Analysis ◽  
Security Management ◽  
Economic Security ◽  
Point Of View ◽  
Complex Nature ◽  
Financial Security ◽  
Financial Activity ◽  
Financial Condition ◽  
Financial Interests

The paper describes concept of "enterprise’ financial security" in modern conditions and compares the main approaches to its definition taking into account the complex nature of this economic category (from the point of view of the object of paramount attention, the task of the security system and the criterions of security). The authors identified two approaches to understanding the financial security of the enterprise: the first approach, which considers financial security in terms of the enterprise’ ability to withstand the threats of the internal and external environment; the second approach determines the enterprise’ financial security as the ability of the enterprise to perform its activities effectively in an uncertain and competitive environment. In addition, the study identified the essence of enterprise’ financial security management, its purpose, objectives, functions, principles, mechanism and basic elements of management. In the course of the research it was found that the most important in the enterprise’ financial security management is to built adequate mechanism of financial security management. The authors define such mechanism, as a set of basic influence’ elements on the process of development and implementation of management decisions to ensure the protection of his financial interests against various threats. Moreover, the authors investigated the systems of enterprise’ financial security analysis, which allow to investigate the financial condition and main results of financial activity of the enterprise in order to determine the level of protection of his financial interests from threats and identify the reserves for its improvement. The system of integral analysis was defined as the system that gives the most solid conclusions about the state of financial security. The main reason for this is that above mentioned system allows to conduct a deeper financial analysis, to evaluate the main areas of financial activity of the enterprise and to aggregate the obtained data into one indicator. Keywords: enterprise's economic security, enterprise's financial security, mechanism of the enterprise`s financial security, management of the enterprise`s financial security.

scholarly journals Cybersecurity as factor of financial security of the enterprise

2020 ◽  
pp. 31-35
Author(s):  
Oksana MAKOVETS ◽  
Iryna DROZD
Keyword(s):  
Cyber Security ◽  
Personal Data ◽  
Business Environment ◽  
Economic Security ◽  
Financial Security ◽  
Security Measures ◽  
Cyber Threats ◽  
Financial Condition ◽  
It Systems ◽  
Financial Interests

Introduction. As a component of the business environment the information environment is characterized by significant cyber threats and requires cyber protection. The processes of Ukrainian society digitalization and changes in providing the information security update the enterprise's financial security measures and their connection with cybersecurity. The purpose of the paper is to analyze the essence of cybersecurity as a factor of the enterprise's financial security and to identify its impact on the investment attractiveness of the business entity. To achieve the purpose the task is to explore the concepts of financial security, cybersecurity and cyber threats, to identify their relationship and impact on business' financial losses of the, the consequences for the enterprise's investment attractiveness. The study will provide information on business management and plan effective policies to combat cyber threats. Results. The essence of enterprise's financial security is investigated. There are three approaches in identifying the essence of this concept, including as part of the enterprise's economic security, as the state of the most effective use of information, financial indicators and as its financial condition level, which provides stable protection of priority balanced financial interests from real and potential external and internal threats. These definitions are used to substantiate the connection with the concepts of cyber threat and cyber security. The areas of possible losses based on the losses assessment due to cyber threats are identified by the authors, namely the intellectual property loss, the business information loss, the IT systems' continuity disruption, the reputation damage as a result of the attack, the automated personal data loss. Conclusion. It is concluded that the necessary measures of cybersecurity, protection of enterprises' information resources and prevention of unauthorized interference in the enterprises' activities, which has a positive effect on investment attractiveness and increases the enterprises' competitiveness.

scholarly journals Forecasting the level of financial security of the country (on the example of Ukraine)

2018 ◽  
Vol 15 (3) ◽  
pp. 304-317 ◽  
Author(s):  
Józef Antoni Haber ◽  
Alina Bukhtiarova ◽  
Svitlana Chorna ◽  
Olesia Iastremska ◽  
Tetiana Bolgar
Keyword(s):  
Regression Analysis ◽  
Financial System ◽  
Economic Security ◽  
Main Element ◽  
Security Level ◽  
Financial Security ◽  
Security Assessment ◽  
Economic Relations ◽  
Banking Market

In the conditions of functioning of economic relations, which arise between subjects of the financial system of Ukraine, the question of creating safe conditions for their activity is increasingly being raised. Attention is paid to the investigation of the state of financial security of the country as a component of economic security, in terms of its key elements, which allows attention to the most important indicators and to develop measures to prevent existing threats.The purpose of the paper is to forecast the level of financial security of the country based on regression analysis of impacts factors. The object of the study is the financial system as a mechanism, which is aimed at the activities of financial security subjects of the country to ensure its proper level. As a result of the regression analysis, it was found that changing in the country’s banking security by 1% will decrease the overall financial security index by 0.04 points, while the non-banking market will grow by 0.07 and the monetary component will decrease by 0.51.Based on the calculation of the arithmetic mean of absolute deviations of independent variables, the estimated value of Ukraine’s financial security level is calculated, which is 40.09% in 2018.Proposals for improving the “Methodological Recommendations for Calculating the Level of Economic Security of Ukraine” will help to solve the problem of mathematical substantiation of the choice of indicators for assessing financial security, minimize risks, eliminate subjectivity and improve the efficiency and the quality of the country’s financial security assessment methodology.The article deals with the issues of the financial component of economic security as the main element of ensuring sustainable financial development of the country.

scholarly journals Institutional support for the sustainability of the public finance system

2021 ◽  
pp. 209-215
Author(s):  
Valentyna Makohon
Keyword(s):  
Public Finance ◽  
Economic Development ◽  
Institutional Support ◽  
Economic Security ◽  
Financial Security ◽  
Finance System ◽  
The Public ◽  
Budgetary Policy ◽  
The Stability

Relevance of the research topic. In modern conditions, the system of public finance is an important tool for regulating socio-economic processes, intensification of the economy. Important factors that affect the quality of the public finance system are financial and economic risks due to the trend of economic development. Accordingly, the assessment of financial and economic risks is an important condition for the development of sound financial and budgetary policy, the development of institutional support for the stability of public finances and economic security of the country as a whole. Formulation of the problem. Based on the trends of economic development of both countries with transformational and developed economies, in modern conditions, important tasks are: substantiation of strategic objectives of fiscal policy to increase the level of stability of public finance and its components; mutual coordination of decisions of public administration bodies. At the same time, the development of institutional support for the sustainability of the public finance system should be carried out taking into account globalization processes. Analysis of recent research and publications. The issue of developing institutional support for the sustainability of the public finance system is quite common in research. These are the works of famous domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, V. Tanzi, O. Vasylyk, I. Zapatrina, S. Kucherenko, L. Lysyak, L. Levaeva, I. Lukyanenko, M. Pasichny, A. Sokolovska, I. Chugunov and others. Highlighting unexplored parts of a common problem. Selection of unexplored parts of the general problem. The above issues are relevant in connection with the spread of acute respiratory disease COVID-19, which affected the trend of economic development, led to a violation of the budget balance, which requires a number of specific tasks related to the development of institutional sustainability of public finances and its components. Goal setting, research goals. The objectives of the study are: to reveal the role of public finance in the regulation of socio-economic processes; substantiate the features of economic security and its components; to analyze and evaluate the indicators of financial security of Ukraine. The purpose of the study is to reveal the directions of fiscal policy to ensure the sustainability of public finance. Research method or methodology. The article uses a set of research methods: a systematic approach, statistical analysis, structuring, synthesis, etc. Basic material presentation. The role of the public finance system in the regulation of socio-economic processes is revealed. The peculiarities of economic security and its components are substantiated. The analysis and assessment of financial security indicators of Ukraine is carried out. The directions of financial and budgetary policy on ensuring the stability of the public finance system are revealed. Area of application of results. The results of the study can be used in the process of reforming the public finance system. Conclusions according to article. In order to increase the stability of the public finance system, at this stage of socio-economic development of the country, it is advisable to: substantiate sustainability indicators – the basis of a transparent system of continuous monitoring of public finance system development and its components; introduction of effective management financial and budgetary tools – systematic assessment of the state of financial and budgetary security; improving the efficiency of financial and budgetary policy in the field of ensuring the stability of the public finance system and political responsibility for its results.

scholarly journals DEVELOPMENT OF MODELS FOR PREDICTING THE PROBABILITY OF BANKRUPTCY IN THE CONTEXT OF BUSINESS FINANCIAL SECURITY

2020 ◽  
Vol 8 (2) ◽  
pp. 126-130
Author(s):  
Tat'yana Myagkova ◽  
Victoria Annenkova
Keyword(s):  
Economic Security ◽  
Financial Security ◽  
Financial Condition ◽  
New Models ◽  
Probability Of Bankruptcy

Forecasting is one of the most important stages in planning future policies to ensure economic security. And countering the financial insolvency of an enterprise should begin with predicting the risk of this phenomenon. The risk of bankruptcy is predicted using domestic and foreign models for predicting potential threats to the organization's financial security. However, many of these models are outdated or not focused on the conditions of our country's economy, which affects the reliability of the results obtained and the effectiveness of decisions based on them. In this regard, there is an increased need to develop new models for identifying signs of bankruptcy and the pre-crisis state of the organization, which could form a more reliable opinion about the financial condition of the object for rapid measures to bring the business out of a crisis or unfavorable state.

scholarly journals Defining the Essence of the Concept of “Financial Security of Enterprise” and Threats to It

2021 ◽  
Vol 3 (518) ◽  
pp. 87-93
Author(s):  
M. O. Haidukov ◽  
◽  
O. S. Shumilo ◽  
Keyword(s):  
Development Strategy ◽  
Business Processes ◽  
Financial Security ◽  
Labor Costs ◽  
Financial Strategy ◽  
Financial Condition ◽  
Current Period ◽  
The Status ◽  
Financial Interests

The essence of the concept of «financial security of enterprise» and threats to it is researched; their classification is provided. According to the results of a comparative analysis of the scholars’ definitions regarding the concepts of «financial security of enterprise» and «threats to the financial security of enterprise», the authors’ own definitions are presented. Financial security of enterprise is considered as an instrument that ensures the sustainability and security of enterprise in the process of implementing its development strategy from the internal and external factors, threats both in the current period of activity and in the future. A threat is a course of events of an external or internal nature, which affects the financial condition of enterprise and entails consequences of varying degrees of severity, the solution of which will require financial, time, labor costs. According to the results of the study of scientific definitions on the essence of financial security of enterprise, some features are allocated. Financial security of enterprise is understood by the authors as: a component that allows choosing and implementing a financial strategy; the ability of enterprise to independently develop and conduct a financial strategy; the result of managed processes, which ensures the acquisition to some extent of its financial freedom; the state of protection of financial interests of enterprise; the financial condition of enterprise; the ability to create and maintain financial conditions at the enterprise; the status of financial security with the ensured business processes. The authors’ own classification of threats according to a number of signs and types is suggested and considered: by the place of origin, by the type of origin system, by the degree of losses, by the possibility of forecasting, by the prospect of impact, by the stability of influence, by the consequences of influence, by the fact of influence, by the threat subjects, by the type of disasters. The research of the essence of financial security of enterprise and threats to it has displayed the complexity and diversity of these concepts. This is evidenced by an extensive range of definitions, each of which has its own characteristics. It should also be noted the absence of a unified classification of threats to financial security.

FINANCIAL COMPONENT OF REGIONSʼ ECONOMIC SECURITY

2017 ◽  
Author(s):  
Yuliya Tymchyshyn ◽  
Keyword(s):  
Security Policy ◽  
Negative Impact ◽  
Economic Security ◽  
The State ◽  
Financial Resources ◽  
Financial Security ◽  
Financial Problems ◽  
Financial Flows ◽  
Financial Measures ◽  
Financial Interests

The article highlights the basic concepts of regions’ financial security. Was discussed the regional level, the components of region’s financial security and their characteristics: budget, tax, investment, innovation, monetary, financial security of economic entities, financial security of the population and insurance. Internal and external aspects of financial security are described. The states of financial security by the intensity of the negative factors’ influence are distinguished. The main generalizing factors that have a negative impact on the level of financial security of the Ukrainian regions are revealed: external factors, these include world-class and national factors; internal factors, these include economic, social, environmental, scientific and technological, informational, material, legal factors. External indicators are substantiated, which indicate the degree of indirect impact on the financial security of a particular region and are determined by the level of financial security of the state by indicators that characterize the state of debt, budget, monetary and currency, investment and foreign trade security. The use of these indicators in calculating the level of financial security of the region is due to a significant impact on this level of financial security of the state, because if national needs are not provided with sufficient financial resources, the financial security of any region cannot be discussed. Internal indicators characterize the immediate state of financial security of the needs of the economic, social and environmental spheres of the region compared to the threshold values. The main risks to the financial security of the region in terms of its structural elements have been assessed. The tasks of the financial security policy of the region are analyzed, such as: diagnostics and forecasting of external and internal threats to ensuring the realization of the financial interests of the region; identification of the most acute financial problems of the region, ranking them according to the degree of danger; development of a system of financial measures aimed at solving financial problems, creating financial mechanisms to protect regional interests; prevention and neutralization of real and potential threats to the financial interests of the region; diversification of financial sources and optimization of financial flows to ensure the balance of sustainable development in accordance with established security criteria; improving the efficiency of the use of available financial resources of the region, control of their volumes.

DIAGNOSTICS OF THE STATE OF FINANCIAL SECURITY OF UKRAINE

2018 ◽  
pp. 12-18 ◽  
Author(s):  
Iryna Petrivna Mihus ◽  
Liudmila Mykolayivna Akimova ◽  
Elena Anatolievna Harnyk
Keyword(s):  
Economic Security ◽  
The State ◽  
Financial Security ◽  
Economic Relations ◽  
External Threats ◽  
Complex Process ◽  
The Stability ◽  
Security Indicators ◽  
High Level ◽  
High Degree

Urgency of the research. The transition to the market in Ukraine led to changes in the sphere of economic relations, which are characterized by a high level of instability. Signifi-cant changes that have occurred in recent years have also created new threats to the domestic economy, necessitating the diagnosis of Ukraine's financial security. Target setting. The welfare of each state primarily de-pends on the stability of its financial system, which is provid-ed through the timely diagnosis of its threats and response to them. Actual scientific researches and issues analysis. The issues of financial security of the nation, as an economic component, the principles of the formation of a system for ensuring financial security were revealed in the works of domestic and foreign scientists, namely in the works of A. Baranovsky, V. Geyets, M. Yermoshenko, J. Zhalilo, B. Karpinsky. A. Sukhorukov, A. Shevchenko and others. Uninvestigated parts of general matters defining. In the conditions of cyclical economic fluctuations, which are characterized by a high degree of uncertainty, it is of acute necessity to diagnose the financial security as a component of the state's economic security. The research objective. The purpose of the article is to conduct a diagnosis of Ukraine's financial security and identi-fy the threats that affect it. The statement of basic materials. The article analyzes both the dynamics of integral indicators of the components of financial security by the methodology of the Ministry of Economy of Ukraine for 2013 – 2017 and the dynamics of financial security indicators by the methodology of the Na-tional Institute of International Security Problems of Ukraine from 2013 to 2017, as well as distinguishes their shortcom-ings. There is proposed a system of measures to increase the level of financial security of the enterprises in Ukraine. Conclusions. Diagnostics of the level of financial security is a complex process of identifying, analyzing, eliminating and forecasting the emergence of internal and external threats to the state. Diagnosis of the components of financial security is the basis for developing a set of measures to counter threats and improve the level of protection of Ukraine.

scholarly journals FISCAL SECURITY OF THE STATE: CONCEPTUAL BASIS FOR A NEW DIRECTION IN ECOSESTATE

2020 ◽  
pp. 86-96
Author(s):  
Aleksy Moldowan
Keyword(s):  
Public Finance ◽  
Economic Security ◽  
Scientific Discipline ◽  
The State ◽  
Financial Security ◽  
Conceptual Basis ◽  
Finance System ◽  
The Public ◽  
The Stability ◽  
Key Terms

The article presents conceptual basis and outlines for a new direction in the ecosestate – fiscal security of the state. A range of vital conceptual problems have been addressed in the article, including defining the concept of the fiscal security, defining key terms, identification of status of fiscal security as scientific discipline in the ecosestate and distinguishing its institutional boundaries. The author emphasises, that problems and dysfunctions of the public finance system can create dangerous threats to the economic security of the state. They undermine the stability and effectiveness of basic economic institutions, weaken the country's economic sovereignty as well as reduce financial resources for its development. The author provides update of basic definitions and introduces new ones to outline concept of the fiscal security. According to presented approach “fiscal security of the state” reflects a performance of the public finance system that enable government to carry out its functions and tasks effectively as well as to resist external and internal threats to the economic and social stability in the state. Some provisions of the theory of economic security of the state have been revised, according to which fiscal security is being considered as part of the country's financial security. The author justifies the thesis, that public finance system itself is one of the crucial factors of the economic security of the state, therefore fiscal security should be considered as an autonomous component of the economic security of the state. Based on the considerations outlined in the article two separate components of the economic security of the state are proposed to be distinguished – financial security and fiscal security. An internal structure of each component is introduced as well in the article, which allows to define their institutional borders.

scholarly journals EVALUATION OF MACROECONOMIC FACTORS FORMATION OF FINANCIAL SECURITY OF UKRAINE

2017 ◽  
pp. 7-16 ◽  
Author(s):  
Olha KYRYLENKO ◽  
Olena STASHCHUK
Keyword(s):  
Economic Security ◽  
The State ◽  
Financial Security ◽  
Macroeconomic Factors ◽  
Theoretical Approaches ◽  
Long Run ◽  
Other Information ◽  
Financial Interests ◽  
Safety Parameters ◽  
Business Structures

Introduction. The financial security of the state is one of the most important components of economic security in general and in terms of its individual functional elements. The financial security of the country determines the level of attractiveness, competitive position in world markets and creates conditions for economic development of certain entities in prospective periods. The purpose of the paper is to determine the place of financial security in the economic security of the country, the main theoretical approaches to the interpretation of the concept of “financial security” and display its main components. The article is isolating the main factors in the formation of financial security in Ukraine, studies of trends and characteristics impact on the economy. Results. The study highlighted the threat of financial security, such as threats to publicsector debt policy threat, the threat of the insurance market, the threat of monetary economy, the threat of the currency market, the stock market threats and other threats. Based on statistical and other information, the analysis of safety parameters for each of the proposed components. This analysis allowed to conclude that for any of the indicators Ukraine's economy has not reached the threshold of financial security. Conclusion. Research essence of the concept of financial security allowed the state to distinguish two main approaches to its treatment: 1) emphasis on the protection of the financial interests of businesses due to the influence of internal and external factors; 2) highlights the availability of sufficient funds to meet the needs of the state, region and individual entities. The primary measures that can be used to enhance the financial security of Ukraine's economy as a whole, should be aimed at: reducing the budget deficit, lower inflation, increase in lending business structures, reducing the proportion of cash sales, increased foreign investment in the economy stabilizing the national currency, increasing the volume of financial resources for sustainable development of the economy in the long run.

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