Thesis for obtaining scientific the degree of candidate of economic sciences in specialty 08.00.08 – money, finance and credit. – PHEI «European University», Kyiv, 2021.
The dissertation clarifies the essential aspects of financial risks, develops scientific and methodological approaches to the formation of a financial risk management system, establishes the features of financial risk management of natural monopolies.
The analysis of the financial risk management system of natural monopolies is carried out, the efficiency of the financial risk management system is estimated, the modeling of the financial risk management system is carried out.
The foreign experience of financial risks management of natural monopolies has been adapted, recommendations for improving the management efficiency by approximating the integration of the financial risk management system have been proposed, the organizational and economic mechanism of functioning of the financial risks management system of natural monopolies has been developed.
A conceptual approach to the implementation and successful functioning of the system of financial risks, which has a clear aggregate nature, is proposed.
The essential aspects of the concept of financial risk, in-depth consideration of its interpretation by various scholars, summarizes the characteristic shortcomings and advantages of financial risk management, clarifies the requirements and substantiates the author's definition, identifies features and defines the content and components of financial risk management: natural monopolies, outlines the criteria for detection, identification and prevention of financial risks.
The essence of the system of financial risk management of natural monopolies is specified and the methodical approach to introduction and successful functioning of the system of financial risks which has accurately expressed aggregate character is offered. Peculiarities and methodological principles of risk assessment based on comparison of sensitivity analysis (assessment of influence of initial parameters on final characteristics), application of multidimensional multiplication analysis (multifactor insolvency assessment model), Toffler model, Chesser model, Fulmer model, French model and universes are substantiated. The methodological bases for evaluating the effectiveness of the financial risk management system with the help of economic and statistical with the help of mathematical tools, expert and analog methods are substantiated.
The conceptual bases of formation of organizational and economic mechanism of financial risks management system of natural monopolies by means of system approach and integration of financial risk management system in the form of functional components of general corporate management system in conditions of constantly repeated economic global crises in world economy are specified.
The significance and role of the system of conceptual elements of the integrated financial risk management system are clarified, theoretical and practical aspects of financial risk management in the context of international practice are considered taking into account national legislation, methodical approaches to determining the effectiveness of financial risk management are identified; economic activity of the structural unit of the enterprise and determining the financial condition of the structural unit according to the financial statements.
Methodological tools for the development and implementation of a financial risk management system in the overall corporate governance system are identified. Requirements for building a simulation model of financial risk management system are formulated, which include principles (optimality, adequacy, efficiency, adaptability, reliability, flexibility and dynamism, economy, specialization, proportionality, mobility), methods (extrapolation, hierarchical, research-analytical, structural, network and economic-mathematical modeling) and blocks (structuring, formalization, standardization and hierarchy).
The scientific basis for the formation of the implementation of the financial risk management system and the development of simulation modeling of strategies during economic crises at the sectored and state levels are substantiated.
