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Financial Ratios as Indicators for Identification of Financial Risks of Industrial Enterprises
Ilchuk V. P., Shyshkina O. V.

Ilchuk, Valerii P., and Shyshkina, Olena V. (2020) “Financial Ratios as Indicators for Identification of Financial Risks of Industrial Enterprises.” Business Inform 2:413–421.
https://doi.org/10.32983/2222-4459-2020-2-413-421

Section: Finance, Money Circulation and Credit

UDC 005.334-047.44:658.29

Abstract:
The article is aimed at exploring the possibilities of using ratios of assessment of the financial condition of industrial enterprises as indicators of the probability of occurrence of financial risks to eliminate threats of financial losses and bankruptcy in a timely manner. As a result of the study, the need to use financial ratios as indicators for identification of financial risks of industrial enterprises is substantiated, with developing a step-by-step process of using these ratios. It is proved that the management of financial risks of industrial enterprises is most efficient in the context of defining the root causes of their occurrence, which requires a preliminary analysis of financial ratios, the nature or mechanism of influence on them of certain factors, assessment of the dynamics of deviations of their values from the regular or planned ones. It is determined that in order to eliminate risks that cause significant financial losses, can lead to loss of capital and even bankruptcy of an industrial enterprise, it is necessary to constantly monitor the deviations of financial ratios and timely develop and introduce preventive measures to counteract their occurrence. Prospects for further research in this direction are the development of anti-risk measures aimed at counteracting the negative impact of financial risks and determining their impact on the value of an industrial enterprise, which will ensure the applied nature of scientific research.

Keywords: financial risks, industrial enterprises, risks counteracting, risks monitoring, financial ratios, indicators of financial condition.

Fig.: 5. Tabl.: 1. Formulae: 1. Bibl.: 9.

Ilchuk Valerii P. – Doctor of Sciences (Economics), Professor, Professor, Department of Finance, Banking and Insurance, Chernihiv National University of Technology (95 Shevchenka Str., Chernihiv, 14027, Ukraine)
Email: [email protected]
Shyshkina Olena V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Banking and Insurance, Chernihiv National University of Technology (95 Shevchenka Str., Chernihiv, 14027, Ukraine)
Email: [email protected]

List of references in article

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“International risk management standards“. Institute of Risk Management. https://www.theirm.org/what-we-say/thought-leadership/international-risk-management-standards/
Badalova, A. G. Panteleyev A. V. Promyshlennyy risk-menedzhment [Industrial Risk Management]. Moscow: Dobroe slovo, 2018.
Blank, I. A. Upravleniye finansovymi riskami [Financial Risk Management]. Kyiv: NIKA-Tsentr, 2005.
Kalchenko, O. M., and Shyshkina, O. V. Finansovyi analiz [Financial Analysis]. Chernihiv: Vydavets Brahynets O. V., 2018.
Kozenkov, D. Ye. “Zhyttievyi tsykl orhanizatsii ta etapy zhyttievoho tsyklu vyrobnychykh system“ [Organizational Life Cycle and Life Cycle Stages of Production Systems]. Problemy ekonomiky transportu, no. 2 (2011): 74-78.
Semenova, K. D., and Tarasova, K. I. Ryzyky diialnosti promyslovykh pidpryiemstv: intehralne otsiniuvannia [Risks of Activity of Industrial Enterprises: Integral Estimation]. Odesa: FOP Huliaieva V. M., 2017.
Tsvihun, T. V. “Mekhanizm upravlinnia ryzykamy v systemi upravlinnia pidpryiemstvom“ [Risk Management Mechanism in Enterprise Management System]. Naukovyi visnyk Mizhnarodnoho humanitarnoho universytetu. Seriia «Ekonomika i menedzhment». 2017. http://www.vestnik-econom.mgu.od.ua/journal/2017/23-2-2017/4.pdf
Shyshkina, O. V. “Identyfikatsiia ta ekspres-otsinka finansovykh ryzykiv promyslovykh pidpryiemstv“ [Identification and Rapid Assessment of Financial Risks of Industrial Enterprises]. Visnyk Chernihivskoho derzhavnoho tekhnolohichnoho universytetu. Seriia «Ekonomichni nauky». 2014. https://economic-vistnic.stu.cn.ua/index.pl?task=arcls&id=1397

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