Financial Safety of a Country and an Enterprise: Definitions, Interrelation and Risks of Providing

П’ятницька, Г. Т.; Fedulova, Iryna

doi:10.32702/2307-2105-2020.7.14

Cited by 5 publications

(4 citation statements)

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“…The concept of "enterprise financial security" is interpreted here as: ▪ a constituent of enterprise economic security (Boin et al, 2018); ▪ a condition that protects financial interests from threats, provides financial balance, stability, solvency and liquidity, etc. (Blank, 2004); ▪ the ability to operate efficiently and steadily or to use the potential of enterprises and resources efficiently (Baldwin, 1997); ▪ the ability of the enterprise to develop and implement a financial strategy independently (Baldwin, 1997;Goryacheva, 2006;Matviychuk, 2007;Piatnytska & Fedulova, 2020); ▪ risk management activity (Tereshchenko, 2006;Amosov, 2012;Portnova & Antonenko, 2012;Malyk, 2015); ▪ a system that ensures the stability of important financial proportions of enterprise development or their balanced condition (Goryacheva, 2006;Coval et al, 2009;Kuzenko et al, 2010); ▪ a specific type of relationship.…”

Section: Resultsmentioning

confidence: 99%

“…From the methodological point of view (Piatnytska & Fedulova, 2020), the management of enterprise financial security is a system of principles and methods for the development and implementation of managerial decisions related to ensuring the protection of its predominant financial and economic interests from internal and external threats. In terms of the general approach (Kharchuk et al, 2021), financial security management means organized actions which ensure the coherence of the operation of all services, units and employees in order to eliminate various threats to steady the enterprise's financial condition.…”

Section: Resultsmentioning

confidence: 99%

“…The scientific literature discusses methods of assessing financial security by the bankruptcy criterion (Orlova, 2008;Coval et al, 2009;Portnova & Antonenko, 2012;Williams, 2014;Mazaraki et al, 2019), the disadvantage of which is the limited scope of diagnostics. Attempts to build an integral indicator (Tereshchenko, 2006;Matviychuk, 2007;Kuzenko et al, 2010;Piatnytska & Fedulova, 2020;Kharchuk et al, 2021) do not take into account the industry boundaries of the parameters in the calculations and all possible assessment indicators.…”

Section: Aims and Objectivesmentioning

confidence: 99%

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Peculiarities of the System for Assessing the Financial Security of Ukrainian Enterprises

Zubko,

Korzh,

Kasianova

et al. 2024

ФКДПТП

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The aim of the study is to improve the system for assessing the level of financial security of an enterprise. The subject of the study is the systemic processes of building and assessing the level of financial security of an enterprise. The study used the methods of theoretical and logical generalization. In the article, it is described the key points which characterize the methods of assessing the financial security of the enterprise. The results of the study consist in the formation of a system of indicators for assessing and managing financial security for a production and trade enterprise. The authors selected a set of indicators used for evaluation, involving an indicator method and visual image in graphic representation. There were analyzed results of the enterprise activity for three years in order to assess financial and property condition and financial security; diagnostic parameters were classified into five groups: assessment of property status, solvency, profitability, business activity (turnover) and financial stability. There are specified the content and problems of determining the indicators of financial security and enterprise operating efficiency on the example of a production and trade enterprise.

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Section: Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

Section: Aims and Objectivesmentioning

confidence: 99%

See 1 more Smart Citation

Peculiarities of the System for Assessing the Financial Security of Ukrainian Enterprises

Zubko,

Korzh,

Kasianova

et al. 2024

ФКДПТП

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“…Thus, supporters of the protective approach are O. Ivashko [6], G. Pyatnytska [7], as well as other scientists who, when defining the category of financial security, focus on ensuring the protection of financial interests at all levels and the ability to ensure the effective functioning of the economic system in as a whole…”

mentioning

confidence: 99%

Theoretical Foundations of Financial Security of the Enterprise

Тітенко

2022

Економіка та суспільство

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The article is devoted to the research and generalization of the available research of scientists regarding the study of various approaches to the essence of the financial security of the enterprise, as a component of its economic security. Attention is focused on the fact that the search for new approaches to the formulation of the essence of financial security of the enterprise is quite important, and is due to the presence of a significant number of challenges facing enterprises in modern economic conditions. They mainly depend on objective and subjective factors of the external and internal environment. The interpretation of the financial security category as a component of economic security is considered. The hierarchical component was considered and it was determined that the financial security of enterprises plays a leading role in ensuring the effective development of enterprises. The multiplicity of approaches and definitions regarding the interpretation of the essence of financial security of the enterprise is highlighted and its detailing is carried out. The main goal of the research is the theoretical substantiation of the essence of the concept of financial security of the enterprise based on the analysis of existing approaches. In the research process, general scientific methods of scientific knowledge are used. In particular, scientific research methods are used: dialectics, abstract logic, analysis and synthesis of the system structure. The principles of research into the essence of the company's financial security were analyzed. In the process of research, it was determined that the main importance in ensuring the financial security of the enterprise is the formation of a financial security management mechanism, which involves defining the set of main elements that ensure the protection of its financial interests from various threats. The main elements of the management of the financial security mechanism of the enterprise are outlined, in particular systemic; development of a strategy for ensuring the financial security of the enterprise; flexibility; efficiency; constant analysis and research of the presence of real and potential threats in the internal and external environment. It is substantiated that the formulation of definitions of the financial security of the enterprise with the definition of certain main directions that determine the components of financial security, in order to develop and implement the financial strategy of the enterprise, which will contribute to the achievement of the general goals of the enterprise.

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Strategic Provising of Enterprise Financial Security in Covid-19 Conditions

Oriekhova,

Golovko,

Gayda

2022

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The spread of the Covid-19 pandemic requires modern enterprises to build an integrated financial security system. The main tasks of ensuring the financial security of enterprises in the conditions of coronavirus in Ukraine are: bringing normative legal acts governing economic activity to the requirements of the European Union; development and implementation of state policy in the field of preventing and overcoming the consequences of the Covid-19 pandemic; informing enterprises about state aid programs; use of modern digital technologies by enterprise; depth analysis of world, state and internal threats to economic activity of enterprises in the current and future periods. During the quarantine, many enterprises suffered losses due to forced inaction. However, stabilization measures to improve financial security are needed not only for these enterprises. They are also necessary for the development of priority areas of management, introduction of innovative technologies of production activity, which are characterized by resource saving. Therefore, in modern conditions, the main component in the process of making sound management decisions to improve the financial security of the enterprise is to take into account, in addition to traditionally existing risks of economic activity, and the risks caused by the Covid-19 pandemic. The purpose of the research is to develop a scientific approach to the strategic support of the financial security of the enterprise in the conditions of Covid-19. The scientific approach to the strategic security of the enterprise in the COVID-19 financial security, which is based on the identified relationships between financial security and risk management, anti-crisis management, compliance, and will allow financial managers to improve the current practice of managing the enterprise's economic activity. In general, the proposed approach is aimed at improving the strategic development of the enterprise and corporate management of it in the context of changing environmental disturbance. The strategic support of the enterprise's financial security is based on strategic management, which should include a number of elements: strategic analysis, strategic planning, controlling, budgeting and audit. Strategic analysis involves a comprehensive study of positive and negative factors that can affect the economic and financial situation of the enterprise in the future, as well as ways to achieve the strategic goals of the enterprise. For the implementation of strategic analysis of the financial security of the enterprise it is advisable to use the following methods: SWOT analysis, PEST-analysis and SNW-analysis, methods of expert assessments, the method of development of scenarios of events, in-depth definition of which is the subject of further study of the authors of this article.

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Financial Safety of a Country and an Enterprise: Definitions, Interrelation and Risks of Providing

Cited by 5 publications

References 1 publication

Peculiarities of the System for Assessing the Financial Security of Ukrainian Enterprises

Peculiarities of the System for Assessing the Financial Security of Ukrainian Enterprises

Theoretical Foundations of Financial Security of the Enterprise

Strategic Provising of Enterprise Financial Security in Covid-19 Conditions

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