Economics and management of national economy

Detection of financial risks at macro-, mezo- and microlevels of economy

Economic Annals-XXI

Economic Annals-ХХI: Volume 165, Issue 5-6, Pages: 31-35

Citation information:
Zhuravlyova, I., Berest, M. Poltinina, O., & Lelyuk, S. (2017). Detection of financial risks at macro-, mezo- and microlevels of economy. Economic Annals-XXI, 165(5-6), 31-35. doi: https://doi.org/10.21003/ea.V165-07

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Iryna Zhuravlyova
D.Sc. (Economics),
Professor,
Head of Finance Department,
Simon Kuznets Kharkiv National University of Economics
9-A Nauky Ave., Kharkiv, 61166, Ukraine
ziv@ksue.edu.ua
ORCID ID: http://orcid.org/0000-0001-7341-1183

Maryna Berest
PhD (Economics),
Associate Professor of Finance Department,
Simon Kuznets Kharkiv National University of Economics
9-A Nauky Ave., Kharkiv, 61166, Ukraine
maryna.berest@hneu.net
ORCID ID: http://orcid.org/0000-0002-2410-3210

Olga Poltinina
PhD (Economics),
Associate Professor of Finance Department,
Simon Kuznets Kharkiv National University of Economics
9-A Nauky Ave., Kharkiv, 61166, Ukraine
olgapp86@gmail.com
ORCID ID: http://orcid.org/0000-0002-4035-022X

Svitlana Lelyuk
PhD (Economics),
Senior Lecturer,
Simon Kuznets Kharkiv National University of Economics
9-A Nauky Ave., Kharkiv, 61166, Ukraine
svitlana.lelyuk@hneu.net
ORCID ID: http://orcid.org/0000-0001-5264-7998

Detection of financial risks at macro-, mezo- and microlevels of economy

Abstract. Introduction. This paper is devoted to detection of components, factors and consequences of financial risks at the macro-, mezo- and microeconomic levels in Ukraine and the way such risks can be assessed and analysed. Purpose of this paper is to develop analytical tools to implement risk management on the basis of an integrated system of indicators of financial risks at different economic levels. Results. It is expedient to determine inflationary, credit and investment risk components by using statistical data. It has been determined that gross domestic product should be compared with other crucial indicators of financial risks at the macrolevel, such as the budget deficit, the government debt and the government debt per capita. A system of indicators for the detection of financial risks was formed according to the relevant index list at the economic mezolevel. The indicators of financial risk have been grouped into segments by risk components such as the budget component, the business component, the financial development component and the social component. Taxonomic analysis was used to evaluate the integral index of financial risks by all the components. The integral index of financial risk for Ukrainian regions was calculated by using the graphical method. A deviation from the maximum value of the integral indicator is examined as a tool to evaluate the probability of financial risks. Financial risks at the microlevel, which generate significant threats to the financial security of enterprises, are grouped as follows: financial risks which lead to a decrease in financial results and effectiveness of business entities and financial risks which have a negative impact on the financial condition of business entities.

Keywords: Financial Risk; Financial Analysis; Risk Detection; Economic Levels; Financial Security

JEL Classіfіcatіon: Е69; G30

DOI: https://doi.org/10.21003/ea.V165-07

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Received 7.06.2017

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