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Risk Control in Modeling Financial Management Systems of Large Corporations in the Digital Economy

Vovchenko N.G., Andreeva O.V., Orobinsky A.S. and Sichev R.A.

International Journal of Economics & Business Administration (IJEBA), 2019, vol. VII, issue Special 1, 3-15

Abstract: Purpose: Growth in the uncertain business environment leads to the formation of demand for new institutional and legal conditions for the financial and investment strategies. The article discusses features of risk-oriented control in the context of digitalization. Design/Methodology/Approach: The study involves modern concepts of uncertainty theory and risk management solutions coupled with the analysis of factors affecting the system risk formation and development. Findings: Authors have developed the features of a modern global economic system, influencing risk formation and development, highlighted the prospects for the digitization of business systems and concluded that in terms of digitization interactive interagency cooperation of the real economy development support is main and required element of the Russian economic system’s institutional matrix. Practical Implications: The research results may be implemented into financial management systems of large industrial corporations. Originality/Value: The main contribution of this study is the modern digitalization pattern affecting the financial systems‘ development.

Keywords: Risk-oriented approach; system risk; financial management; industrial corporations; financial modeling; financial control; sustainable development. (search for similar items in EconPapers)
JEL-codes: G14 G17 G18 H32 (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:ers:ijebaa:v:vii:y:2019:i:special1:p:3-15