Фінансові ризики: економічна природа та класифікація різновидів

Abstract

The article presents the theoretical and methodological foundations of the content of the definition of “financial risk”. The existing scientific approaches to understanding the economic nature of the concept under study have been generalized on the basis of morphological analysis. It has been noted that the first approach treats financial risk in the context of the financial results of the enterprise, in particular as a risk, the possibility of financial losses due to negative events; the second approach defines financial risk as a cost estimation of the probability of an event leading to financial losses of the enterprise; the third approach defines financial risk as a complex of cause and effect relationships, that is, a set of types of financial risks that affect not only the financial activity but also the production and commercial activity of the entity. It have been presented an author’s interpretation of financial risk as a certain probability of avoiding financial results in the form of loss of profit, income, assets or capital in the conditions of objective unpredictability of financial and economic activity. It has been noted that financial risk as an economic category is characterized by a number of basic and specific properties that are manifested in the interaction of such elements of financial risk as uncertainty, losses, consequences and opportunities. The types of financial risk have been classified into two groups: external financial risks (inflation, deposit, tax, interest, currency); internal financial risks (risks of business processes: risk of insolvency, risk of reduction of financial stability, profitability, turnover, liquidity; investment risk: portfolio, interest, credit, dividend; other financial risks: risk of missed profit, structural, new. Basic methods and tools used to manage and implement financial risk mitigation policies in the operations of enterprises have been summarized.