Economic Security Indicators Forecasting for Management Decisions Based on Integrated Reporting Data

Alsu Ahmetshina (), Roza Kaspina () and Linar Molotov ()
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Alsu Ahmetshina: Kazan Federal University, High School of Business
Roza Kaspina: Kazan Federal University, Institute of Management, Economics and Finance
Linar Molotov: Kazan Federal University, Institute of Management, Economics and Finance

A chapter in The Impact of Globalization on International Finance and Accounting, 2018, pp 403-409 from Springer

Abstract: Abstract The growing popularity of integrated reporting is becoming the trend of the best practices among successful companies. Transparent and clear reporting allows attracting additional investment, conducts a better business management, and focuses on sustainable future. Control of the company’s sustainable development is a complex and important management task that is possible to handle through ensuring economic security. In order to do this, companies are encouraged to track key performance indicators in the current period and give accurate forecasts. The main idea of the article is driven by the need to improve aspects of forecasting methods of quantitative and qualitative indicators based on integrated reporting in order to ensure economic security and improve the quality of made on their basis management decisions. In this article, a major Russian oil company PJSC “LUKOIL” is being analyzed. The authors conduct their research based on integrated annual reports of the company for the last 5 years. Several forecasting methods were used to estimate future values of several economic security indicators, including simulation, fuzzy sets, and expertise. In combination, they should give more accurate results, therefore suggested by the authors to be used as a possible model in similar calculations to carry out a better decision-making for business management.

Keywords: Economic security; Integrated reporting; Fuzzy forecasting; Simulation modeling; Expert forecasting method (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1007/978-3-319-68762-9_44

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