Формування механізму управління ризиками переробних підприємств

Abstract

Thesis for granting the Degree of Candidate of Economical sciences in speciality 08.00.04 – economics and management of enterprises (by types of economic activity). – National Technical University "Kharkiv Politechnical Institute", Kharkiv, 2020. The thesis is devoted to the development and scientific substantiation of theoretical and scientific-methodical approaches to the formation of a risk management mechanism for processing enterprises in Ukraine. Based on the analysis of the evolution of views on the essence of the concept of "risk", four stages of formation and development of the theoretical concept of risk management and its methodological tools are identified: Stage I (XIII century - second third of XVIII century) - with the risk of negative consequences; Stage II (the last third of the XVIII century - the end of the XIX century) - the formation of ideas about risk as a factor in the formation of profits; Stage III (end of XIX century - middle of XX century) - formation of the concept of risks in entrepreneurial activity; Stage IV (50-60s of the twentieth century to the present) - the formation of modern concepts of risk management (portfolio investment theory, fuzzy set theory and fuzzy logic, etc.). That kind of periodization makes it possible to organize in a more rational way an array of empirical and theoretical information regarding the formation of ideas about the economic nature of risk. Generalization and systematization of modern scientific approaches to understanding the economic essence of the concepts of "risk" and "risk management" made it possible to identify the most significant signs and properties of risks (object, subject, source, consequences, causes and conditions of occurrence and existence), which clarify the features their occurrence, existence and prevention in conditions of uncertainty, as well as their author's definitions. This helps to overcome the ambiguity in understanding their economic nature and the vagueness of the terminology of the theory of risk management. Based on a critical analysis of the main advantages and disadvantages of existing classifications of risks, a facet-hierarchical classification of risks of processing enterprises has been developed, which provides for their simultaneous grouping at three hierarchical levels of sources of origin (global, sectoral and corporate) by exogenous and endogenous reasons, as well as for objective and the subjective nature of the occurrence. The proposed classification takes into account the specifics, nature and conditions of processing enterprises and simplifies the process of identifying risks for the purpose of their qualitative and quantitative assessment. The structural-logical scheme of formation of the mechanism of management of risks of the processing enterprises is developed and its constituent elements which are set of subjects, objects, the purpose, tasks, principles, functions, methods and tools which provide administrative influence on risks depending on level of occurrence are substantiated. This approach allows establishing the level of riskiness of processing enterprises, to form the composition of organizational and economic measures aimed at minimizing and neutralizing risks, and to assess the effectiveness of their implementation. It is proved that fat and-oil enterprises play an extremely important role in the economy of Ukraine, the export potential of which is a source of foreign exchange earnings, a stimulus for the development of agricultural enterprises and food industry enterprises. It is established that the factor of economic growth of enterprises of fat-and-oil industry, annual increase of their processing capacities and volumes of production is innovative development, which is characterized by high competitiveness of finished products and its export orientation; introduction of the latest technologies of complex processing of oil raw materials, production of unrefined and refined sunflower oil, margarine, mayonnaise and by-products - meal and husk, the latter of which is an alternative energy source. A scientific and practical approach to qualitative assessment of the impact of exogenous and endogenous, objective and subjective risks on the economic activity of processing enterprises of the fat-and oil industry by conducting an expert survey and economic and statistical processing of its results. The use of such an approach provides an opportunity to rank the identified risks by the relative importance of the impact and identify the most risky activities of the enterprise. A methodical approach to the quantitative assessment of financial risks of fat-and-oil processing enterprises based on the using of the normative method has been developed. It is proposed to assess the property risks, risks of liquidity, solvency, business activity and profitability of the enterprise on the basis of comparison of scientifically grounded system of financial and economic coefficients and the corresponding to them dynamic, comparative, static and combined standards. The use of such an approach makes it possible to determine the frequency and degree of impact of financial risks on the activities of fat-and-oil enterprises in the short term and use these results to provide information support for the process of preparation and management decisions. The methodical approach to the integrated risk assessment of fat-and-oil processing enterprises is improved, which is based on the results of logit-modeling of riskiness of fat-and-oil enterprises in the dynamics based on the main components by groups of financial risks of the enterprise. The proposed approach makes it possible to obtain a generalized assessment of the level of risk of fat-andoil enterprises and use these results to develop a set of organizational and economic measures aimed at minimizing it. The methodical tools of marginal analysis of activity of processing enterprises of fat-and-oil branch taking into account uncertainty of realization of economic decisions are improved. To assess the level of risk in conditions of stochastic uncertainty of the classical type, the use of geometric probability and its empirical estimates are proposed. Based on the results of simulation of the main indicators of CVP-analysis (costs-volume-profit), a set of scenarios of break-even volume of sunflower oil production is formed, taking into account the risk factor, price behavior and variable costs. The proposed simulation model is the basis for solving the optimization problems of the break-even volume of fat-and-oil production and management decisions in conditions of uncertainty and risk. To minimize possible losses in the financial and economic activities of fatand-oil processing enterprises, which arise due to the most dangerous risks (in particular, financial, technical, technological, personnel, etc.), it is recommended to transfer responsibility for them to third parties through insurance. It is established that one of the decisive factors in concluding a risk insurance contract for an enterprise (insured) and an insurance company (insurer) is the amount of risk insurance, the optimal level of which is proposed to be determined on the basis of even distribution of accidental losses of the enterprise to risk. This approach is recommended for use by refineries in the fat-and-oil industry in the transfer of financial, industrial, commercial and other risks. The system of organizational and economic measures aimed at forming the ability of fat-and-oil processing enterprises to withstand the impact of negative consequences of risks on their current activities, the practical implementation of which involves the introduction of risk protection mechanism and improving its organizational and resource provision. Improving organizational and resource support requires clear coordination between its organizational and managerial, personnel, financial, information-analytical, logistical and regulatory components. Organizational and managerial support is aimed at organizing the process of risk management in the enterprise, the formation of a single methodological framework for risk management, development of functional responsibilities of specialists in risk management, the use of modern risk management technologies; personnel - for the training of highly qualified specialists in risk management; financial - to create reserves to finance risk management measures and compensation for losses from the consequences of their manifestation; information-analytical - for the collection, analysis and processing of information about the riskiness of financial and economic activities of the enterprise; logistical - for the availability of modern computer equipment and licensed risk management programs; regulatory - for the development and implementation of norms, rules, regulations on risk management of the enterprise. It is proposed to evaluate the effectiveness of the implementation of the risk management mechanism at the processing enterprises of the fat-and-oil industry on the basis of the use of the NPV factor. It is proved that the improvement of the components of the organizational and economic mechanism of risk management of processing enterprises is the basis for making rational and sound management decisions aimed at minimizing and preventing risks, achieving a high level of financial stability, profitability and competitiveness of industrial enterprises.