UDC 336.64
DOI: 10.36871/u.i.k.2025.04.01.005

Authors

Ruslan S. Golovnin,
Vyatka State University

Abstract

Characteristics of financial risks inherent in an enterprise is an important element of financial analysis. At the same time, at the first stages, in addition to direct threats to economic activity, it is necessary to determine the factors that generate them. Modern approaches to risk classification identify two main sources of risk: external and internal. The author’s methodology presented in the article offers an expanded approach to determining the source of risk formation, which consists in analyzing the influencing factors. The relevance of this approach lies in the possibility of a more complete characterization of financial risks, which will allow us to more accurately determine the possibility of influencing them from the side of the enterprise. This will allow us to formulate the correct financial security strategy. To achieve this goal, the following scientific research methods were used: analysis, comparison, generalization, formalization, synthesis. As a result of the study, an expanded classification of financial risks was proposed in terms of sources of occurrence: external, predominantly external, mixed, predominantly internal, internal. Attribution of a specific type of financial risk to one of the named types depends on the factors influencing the development of the risk, on the ability of the enterprise to influence them, as well as on what impact is exerted on the financial risk in terms of strength: direct or indirect. As a result of the study, we generalized and brought together the most frequently encountered financial risk factors in relation to their main types, each of which was given a characteristic of the strength of influence on the development of risk. Based on the information generated, the key types of financial risk were classified from the position of the source of the factors.

Keywords

financial risk, financial stability, solvency, types of financial risk, financial risk factors, liquidity, balance sheet of the enterprise