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Risk Control in Modeling Financial Management Systems of Large Corporations in the Digital Economy

Author

Listed:
  • Vovchenko N.G.
  • Andreeva O.V.
  • Orobinsky A.S.
  • Sichev R.A.

Abstract

Purpose: Growth in the uncertain business environment leads to the formation of demand for new institutional and legal conditions for the financial and investment strategies. The article discusses features of risk-oriented control in the context of digitalization. Design/Methodology/Approach: The study involves modern concepts of uncertainty theory and risk management solutions coupled with the analysis of factors affecting the system risk formation and development. Findings: Authors have developed the features of a modern global economic system, influencing risk formation and development, highlighted the prospects for the digitization of business systems and concluded that in terms of digitization interactive interagency cooperation of the real economy development support is main and required element of the Russian economic system’s institutional matrix. Practical Implications: The research results may be implemented into financial management systems of large industrial corporations. Originality/Value: The main contribution of this study is the modern digitalization pattern affecting the financial systems‘ development.

Suggested Citation

  • Vovchenko N.G. & Andreeva O.V. & Orobinsky A.S. & Sichev R.A., 2019. "Risk Control in Modeling Financial Management Systems of Large Corporations in the Digital Economy," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 3-15.
    • Handle: RePEc:ers:ijebaa:v:vii:y:2019:i:special1:p:3-15
    as

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    References listed on IDEAS

    as
    1. R. Rupeika-Apoga & S.H. Zaidi & Y.E. Thalassinos & E.I. Thalassinos, 2018. "Bank Stability: The Case of Nordic and Non-Nordic Banks in Latvia," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 39-55.
    2. O.V. Andreeva & E.V. Shevchik, 2017. "Organizational and Financial Modeling of Transnational Industrial Clusters Sustainable Development: Experience, Risks, Management Innovation," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 137-147.
    3. N.G. Vovchenko & M.G. Holina & A.S. Orobinskiy & R.A. Sichev, 2017. "Ensuring Financial Stability of Companies on the Basis of International Experience in Construction of Risks Maps, Internal Control and Audit," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 350-368.
    4. A.G. Polyakova & M.P. Loginov & A.I. Serebrennikova & E.I. Thalassinos, 2019. "Design of a Socio-economic Processes Monitoring System Based on Network Analysis and Big Data," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 130-139.
    5. repec:ers:journl:v:vi:y:2018:i:2:p:39-55 is not listed on IDEAS
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    More about this item

    Keywords

    Risk-oriented approach; system risk; financial management; industrial corporations; financial modeling; financial control; sustainable development.;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm

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