Catastrophic Business Risk: Data From the Russian Regions

Iuliia S. Pinkovetskaia, Anton V. Lebedev, Irina V. Gruznova and Igor V. Balynin

Montenegrin Journal of Economics, 2020, vol. 16, issue 3, 83-92

Abstract: The purpose of the study is to analyze the regularities and trends of the existing levels of catastrophic business risk for sets of small and medium-sized enterprises located in each of the regions of Russia. The article discusses the methodological and empirical aspects of the assessment of catastrophic risk, as well as the calculation for-mula for determining its level. Research based on the official statis-tical data for Russian regions for the 2010-2017 period. Evaluation level of catastrophic risk was made on calculated functions density of normal distribution. Study revealed that for discussing years average value of catastrophic risk is 8.1%. The highest level of cata-strophic business risk is due to the influence of crisis phenomena in the economy in 2016-2017. The article also identifies and observes the regions with respectively high and low levels of catastrophic business risk. The results obtained have a certain theoretical and applied value, in particular, in the analysis of patterns characteristic of the business sector of the economy, substantiation of proposals for its development, as well as business risk management. The results of the study would be of interest in the educational process of higher and secondary special educational institutions, as well as for researchers and state and municipal authorities.

Date: 2020
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