Corporate Agreement in the Organization’s Risk Management System

Evgeniia A. Borzykh ()

Economics of Contemporary Russia, 2021, issue 1

Abstract: The article examines the objectively existing need in modern market conditions to introduce and apply innovative approaches in the internal corporate management of commercial enterprises, including when building an effective risk management system. A brief assessment of the most widespread approach in Russia to the formation of local risk management systems is given. The article, using scientific methods of theoretical research, methods of scientific analysis and interdisciplinary synthesis (economics of law), methods of induction and deduction, generalization of the results obtained using a hypothetical-deductive method, substantiates the need for an effective local risk management system for Russian commercial enterprises. Arguments are given in favor of the use of innovative tools in the formation and filling of risk management systems. The article deals with the problems associated with the introduction of a corporate agreement as an effective tool in the system of minimizing commercial risks arising in the course of the activities of Russian business structures. The article presents the most relevant scientific publications on the topic of research and makes a generalized conclusion about the current state of research in the relevant field. The issue of the place of corporate agreements in local risk management systems is considered. The definitions are given and the main characteristics of risk management and its system, corporate agreement are given. The range of issues regulated by the provisions of the corporate agreement is outlined. The conclusion summarizes the arguments supporting the introduction of innovative tools into existing risk management systems. Arguments are given in favor of using a corporate agreement as an effective and low-budget tool to ensure the growth of the effectiveness of risk management systems in Russian business structures. The conclusion is substantiated that the use of a corporate agreement as an instrument of the risk management system is potentially capable of positively affecting the level of economic efficiency and competitiveness of commercial enterprises. Examples of corporate risks that can be minimized by applying certain provisions of the corporate agreement are given.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ack:journl:y:2021:id:616

DOI: 10.33293/1609-1442-2021-1(92)-15-23

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