Izvestiya of Saratov University.

Economics. Management. Law

ISSN 1994-2540 (Print)
ISSN 2542-1956 (Online)

Full text PDF(Ru):
Article type: 

Indicator Method as an Instrument to Ensure Financial Security of an Economic Entity

Vlasenkova Tatiana Aleksandrovna, Moscow State University of Food Production
Panchenko Tatiana M., Moscow State University of Food Production
Tsypin Alexander P., Moscow State University of Food Production

Introduction. Any enterprise’s functioning in a market economy entails internal and external risks. Reducing their impact or leveling ensures a long-term existence of the business. In this view, the subject of the study is relevant. Theoretical analysis. The theoretical and methodological basis of the study was the works of Russian and foreign researchers in the field of economic and financial security. During the critical study of scientific publications it was determined that the interpretation of the financial security of enterprises definition is considered in terms of several approaches: complex, resource, financial. It was also found during the study that threats to financial security have a direct impact on production, personnel, information, etc. Empirical analysis. The main methods of research were analysis and synthesis, as well as the method of generalizing indicators. In the course of the study, it was found that the analyzed enterprise uses only quantitative indicators for evaluation, which are unable to identify most threats to financial interests. As a result, an open list of qualitative indicators was proposed that could assess the level of financial security. Results. The construction of the financial security risk matrix allowed us to establish that the total cost of implementing all risks per year can reach 90 million rubles, which is about 9% of the property of the enterprise. Having assessed the risks of financial security, we recommended that the management of the enterprise should pay attention to the realization of the profits loss risks due to the unstable position of suppliers and contractors in the market or the termination of their activities.

  1. Tsypin A. P. Effect of the state of industry to the region food security. Azimut nauchnykh issledovaniy: ekonomika i upravlenie [Azimuth of scientific research: economics and management], 2016, vol. 5, no. 3 (16), pp. 209–211 (in Russian).
  2. Blank I. A. Upravlenie fi nansovoi bezopasnost’yu predpriyatiya [Enterprise financial security management]. Kiev, Nika-Center: Elga Publ., 2004. 776 p. (in Russian).
  3. Parfenova T. Financial security of the enterprise: A systems approach. Konsul’tant [Consultant], 2010, no. 15, pp. 18–20 (in Russian).
  4. Goryacheva K. S. Financial security of the enterprise, the essence and place in the system of economic security. Ekonomіst [Economist], 2003, no. 8, pp. 65–67 (in Ukrainian).
  5. Lavrova Yu. V. The interests of economic agents of the enterprise as the basis for determining the state of its financial security. The Bulletin of Transport and Industry Economic, 2014, no. 45, pp. 97–103 (in Russian).
  6. Reverchuk N. Y. Upravlіnnya ekonomіchnoyu bezpekoyu pіdpriєmnic’kih struktur [Management of economic security of business structures]. Lvov, LBI NBU, 2004. 195 p. (in Ukrainian).
  7. Kirichenko O. А., Kim Yu. G. The impact of inflation on the fi nancial security of the enterprise. Ekonomіka ta derzhava [Economy and State], 2009, no. 1, pp. 13–16 (in Ukrainian).
  8. Vorobyov Yu. N., Poritsky D. V. Financial and economic security: The theoretical aspect. Scientific Bulletin: fi nance, banking, investments, 2015, no. 2 (31), С. 34–43 (in Russian).
  9. Vorobyova E. I. Financial security at the micro and macro levels. Nauchnij vestnik: finansy, banki, investitsii [Scientific Bulletin: finance, banks, investments], 2012, no. 2 (15), pp. 6–10 (in Ukrainian).
  10. Ovechkina O. N. The concept and methodology for assessing the fi nancial security of an enterprise. Voprosy ekonomiki i prava [Issues of economics and law], 2013, no. 3, pp. 87–92 (in Russian).
  11. Bondar A. P. Financial condition and financial security of construction enterprises of Ukraine. Nauchnyj vestnik: finansy, banki, investitsii [Scientifi c Bulletin: finance, banks, investments], 2011, no. 4 (13), pp. 10–12 (in Ukrainian).
  12. Karzayev N. N., Babanskaya A. S. Ekonomicheskaia bezopasnost’ [Economic security]. Moscow, Publishing House of the RSAU-MSHA, 2016. 245 p. (in Russian).
  13. Vodyanova V. V. Ekonomicheskaia bezopasnost’. Sistemnoe predstavlenie [Economic security. System presentation]. Moscow, Gosudarstvennyi universitet upravleniya, 2010. 177 p. (in Russian).
  14. Yarochkin V. I. Informatsionnaia bezopasnost’ [Information Security]. Moscow, Mir Foundation, Acad. project, 2003. 639 p. (in Russian).
  15. Vladimirova T. V. Sotsial’naia priroda informatsionnoi bezopasnosti [The social nature of information security]. Moscow, ANO Izdatel’skiy dom “Nauchnoe obozrenie”, 2014. 239 p. (in Russian).
  16. Shapkin A. S., Shapkin V. A. Ekonomicheskie i finansovye riski. Otsenka, upravlenie, portfel’ investitsiy [Economic and financial risks. Valuation, management, investment portfolio]. Moscow, Dashkov i K Publ., 2018. 544 p. (in Russian).
  17. Papekhin R. S. Faktory finansovoi bezopasnosti i ustojichivosti predpriyatiya [Factors of fi nancial security and enterprise sustainability]. Thesis Diss. Cand. Sci. (Econ.). Moscow, 2007. 21 p. (in Russian).
  18. Gvozdeva E. A. Risk-menedzhment [Risk management]. Rubtsovsk, Rubtsovsk Industrial Institute, 2015. 86 p. (in Russian).
Available online: