Economic Globalization and Corporate Accounting Risks: An Analysis of Enterprise Risk Management Based on Big Data

Zhang, Yantai

doi:10.1155/2022/8673357

Cited by 3 publications

(1 citation statement)

References 19 publications

(12 reference statements)

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“…In the conditions of military-pandemic threats, the issue of risk assessment becomes especially relevant, which is reflected in the increase in the number of scientific works on this topic in recent years. For example, Zhang Yantai [28] investigated the impact of economic and informational globalization on business development with the simultaneous growth of risks and problems. The scientist revealed the prospects for the development of network technologies and big data, which generate a system of risks and threats, the need for management and analysis of which is justified in the context of big data.…”

Section: Literature Reviewmentioning

confidence: 99%

Analysis of Risks in the Financial Security Management System of Business Entities

Zadorozhnyy,

Zhukevych,

Portovaras

et al. 2023

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Financial and economic activity is exposed to numerous systemic risks, which are a threat to the financial security of enterprises. The criterion for ensuring financial security is the appropriate level of the company's financial condition. The financial condition of the enterprise is a complex concept and is characterized by the system of indicators – financial coefficients: indicators of liquidity, financial stability, business activity, and management efficiency. The interrelationship and mutual determination between the indicators that cause the occurrence of risk when one of them changes is established.A range of factors that comprehensively characterize the financial and economic activity of the enterprise has been determined and developed risk analysis and assessment methodology, which includes the following stages: preparatory stage; construction of an algorithm for quantitative assessment of risk in the financial security system; interpretation of the results of an integrated risk assessment in the financial security system; determining the priorities of risk management in the system. The methods of financial analysis (horizontal, vertical, coefficient, analysis of business activity and financial stability) were applied and a quantitative assessment of risks was carried out. The indicators-coefficients of the enterprise's functioning are calculated and given an interpretation.The conclusion was formed that the construction of an effective risk management system and its universal functional component of risk analysis are current issues, as they allow to develop a set of measures to minimize threats and risks of conducting financial and economic activities of economic entities. Therefore, the correct assessment of risk with the help of the proposed methods and models of financial analysis for individual economic situations and business entities is effective and has value, as it gives the opportunity to make the optimal decision in specific situations and characterizes the criterion feature of financial security of industrial enterprises – liquidity, financial stability, business activity, profitability.

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Section: Literature Reviewmentioning

confidence: 99%

Analysis of Risks in the Financial Security Management System of Business Entities

Zadorozhnyy,

Zhukevych,

Portovaras

et al. 2023

ФКДПТП

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Retracted: Economic Globalization and Corporate Accounting Risks: An Analysis of Enterprise Risk Management Based on Big Data

2023

Security and Communication Networks

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The Concept of Risk Management: An Integrated Analysis Based on the Criteria of the Financial Condition of Enterprises

Zhukevych,

Rozheljuk,

Portovaras

et al. 2024

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The article is a theoretical and methodological study of risks as an important concept of enterprise management, highlighting the methodology of comprehensive risk analysis based on the criteria of the enterprise's financial condition. The essence and tasks of enterprise risk management and the place and role of analysis as a priority, all-encompassing functional component are highlighted. Analysis and assessment of the level of risks in statics and dynamics, using the integral function of the financial state of a multidimensional dynamic object, makes it possible to track the zones of unacceptable risk in the development of the enterprise. The calculation of the integrated assessment of the impact of risks on financial stability is carried out with the help of definitions of the outlined financial coefficients that characterize the potential of the financial state, the deviation from the normative and calculated values of which characterizes a certain level of risks of economic entities. The quantitative assessment of risks and the calculation of the comprehensive assessment were carried out according to groups of financial condition criteria - financial stability, liquidity, business activity, and profitability. Deviation from the normative value indicates the risk of disruption of the efficiency and financial stability of the enterprise under the influence of a number of factors of direct and indirect action. Determining the integrated assessment of risks for the researched period made it possible to follow the dynamics, identify the risks of enterprises and draw a conclusion about changes in their comprehensive assessments for all groups of criteria that are in the critical risk zone. The applied methodology allows for the development of measures and reasonable management decisions, which are taken in the short and long term to preserve the financial stability and efficiency of the enterprise. It is important to predict the prevention of risks to financial and economic efficiency and financial condition.

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Economic Globalization and Corporate Accounting Risks: An Analysis of Enterprise Risk Management Based on Big Data

Cited by 3 publications

References 19 publications

Analysis of Risks in the Financial Security Management System of Business Entities

Analysis of Risks in the Financial Security Management System of Business Entities

Retracted: Economic Globalization and Corporate Accounting Risks: An Analysis of Enterprise Risk Management Based on Big Data

The Concept of Risk Management: An Integrated Analysis Based on the Criteria of the Financial Condition of Enterprises

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