Abstract
The purpose of this article is to summarize the theoretical, methodological and methodological foundations of financial risk management in firms in modern conditions.
 The methodological basis of the research is the works of economists devoted to financial risk management.
 Research novelty. Various methods are presented in the economic literature for assessing financial risks. The introduction of modern methods of systematic and consistent analysis of the financial risk management of a firm is the main novelty of this study.
 Conclusion. Based on the current liquidity ratio of the company's financial condition and the assessment of borrowed funds in terms of liabilities, a two-factor model is investigated, and on the basis of working capital in terms of assets, return on assets (ratio of retained earnings to assets), profitability (ratio of operating income to assets), market value of shares by the ratio of liabilities and profitability of assets (profit by ratio to assets), a five-factor model is investigated.
 In the economic literature, it is considered appropriate to use the revised Altman model in developing countries.
Highlights
In a market economy, the activities of firms are at risk, they periodically face risk and fear of losses
The systematic and consistent application of these modern methods to analyze financial risk management in firms is the main novelty of the research
The methodological basis of the research is the works of economists devoted to financial risk management
Summary
In a market economy, the activities of firms are at risk, they periodically face risk and fear of losses. Among the risks that firms face, the most important are financial risks. The article shows methods for assessing financial risk and indicates the appropriate methodology for assessing financial risks for developing countries. The purpose of this article is to summarize the theoretical, methodological and methodological foundations of financial risk management in firms in modern conditions. The economic literature presents various methods for assessing the financial condition of a firm. One of these methods is based on the Savitskaya rating system, which is expressed in points. The systematic and consistent application of these modern methods to analyze financial risk management in firms is the main novelty of the research. The methodological basis of the research is the works of economists devoted to financial risk management. The article uses analysis, synthesis, statistical comparison, modern economic and mathematical methods
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