ASSESSMENT OF THE IMPACT OF EXTERNAL FINANCIAL RISKS ON ENTERPRISE ACTIVITIES

Анотація

The purpose of the article is the need to improve methodological approaches to the management of external financial risks at enterprises of the real financial sector, in particular methods of quantitative assessment of external financial risks, tools for financial planning of external financial risks, assessment of the effectiveness of the risk management system in general and deepening of the theoretical and methodological foundations of the influence of external financial risks on the activity of the enterprise and the development of practical recommendations for reducing this risk on the activity of the enterprise. Results. The financial activity of the enterprise is associated with many risks. The impact of these risks became especially noticeable with the transition to a market economy. Among all the risks of business entities, financial risks are the main ones, as they endanger the further successful operation of the enterprise. Their action leads to a decrease in the financial results and financial stability of the enterprise. Financial risks are defined as the probability of financial losses due to an inefficient capital structure, which causes an imbalance in the company's cash flows. In the scientific literature, there is no ambiguity in the interpretation of the essence of financial risks and their place in the system of economic activity of the enterprise. Some specialists consider financial risks as a separate type of enterprise risks. Some economists believe that these risks are part of other risks – market and investment risks. Financial risks are associated with the probability of unforeseen financial losses of resources (decrease in expected profit, income, loss of part or all of the capital) in a situation of uncertainty of the conditions of the company's financial activity. Methods. The article elaborates methods of financial risk management, which involve the identification, analysis and development of methods of neutralizing financial risks of the enterprise. Value/originality. Study of the diagnosis of the risk of insolvency according to E. Altman's five-factor model. This model has a relatively higher level of analysis. Identification of risks is a very important stage of risk management, especially financial risks, at this stage the foundation of the risk management process at the enterprise is laid. Based on the analysis of the economic literature, the following two types of financial risks of the enterprise are distinguished: global external financial risk: foreign economic and market; external financial risk: inflation, interest, currency, investment, credit, which will facilitate the process of identifying risks and choosing methods of their management.

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