Venture risks in industry – identification tools and reliable estimate methods
Stepanov D.A.1
1 ИПР РАН
Download PDF | Downloads: 14
Journal paper
Economics and society: contemporary models of development (РИНЦ)
опубликовать статью
Volume 10, Number 2 (April-June 2020)
Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=44770749
Abstract:
The purpose of this article is to develop identification tools and methods for reliable estimate. The article offers a methodological approach to building a model for evaluating venture projects that meets the requirements of both the investor and the entrepreneur, as well as allows to optimize the choice of venture projects based on economic, technical and other groups of indicators (including expanded coefficients list). Research methods. Abstract-logical analysis, system-functional analysis, and classification method were used in the research process. Research result. To evaluate venture risks in industry the calculation of risk ratio, which depends on the stage of market development, stage of life cycle of the enterprise and inherent to the venture project (including characteristics of the commercial products group), is proposed. The proposed methodology is universal and can be adapted to the specific business conditions of small, medium-sized and large enterprises, as well as the differences in their participation in venture activity.
In this article, based on the available classifications of venture risks, the venture risks of an industrial enterprise are grouped according to the phases of development of venture activity. The author also proposed a formalized system for managing venture risks of industrial enterprises, which includes the classic functions of management activity (planning, organization, motivation and control), which are implemented using the control, managed, information, and support subsystems. In order to minimize the venture risks of industrial enterprises, the author offers management solutions for the following types of venture financing risks: financial risk (bankruptcy risk), operational risk, risk of business reputation loss, strategic risk, credit risk, market risk, liquidity risk, and system risk.
Conclusions. The venture activity risk of an industrial enterprise is the probability of loss of any resources (primarily financial) and/or loss of profit by venture entities. Therefore, organizations are forced to constantly improve their assessment methods and develop effective identification tools.
Keywords: venture risk, venture activity, venture risk of an industrial enterprise
References:
Akhmetova A.M. (2019). Problemy otsenki riskov venchurnyh proektov [Problems of risk assessment of venture projects] National security as the basis of the country's competitiveness and economic growth. 23-28. (in Russian).
Basenko V.P., Dolgopolov R.G. (2019). Analiz metodov upravleniya predprinimatelskimi riskami virtualnogo predpriyatiya [Analysis of the methods of entrepreneurial risk management of virtual enterprise] [Dostizheniya sovremennoy nauki i obrazovaniya]. 19-22. (in Russian).
Christopher L. Culp. (2001). The Risk Management Process: Business Strategy and Tactics New York: John Wiley & Sons.
Derikolenko A.N. (2013). Otsenka effektivnosti i uchet riskov v deyatelnosti venchurnikh predpriyatiy [Evaluating the effectiveness and risk management of venture companies]. Actual problems of economics. (5(143)). 108-115. (in Russian).
Derikolenko A.N., Bozhkova V.V. (2013). Prakticheskie aspekty upravleniya innovatsionnymi riskami (glava 15) [Practical aspects of innovation risk management (Chapter 15)] Sumi: OOO «Pechatnyy dom «Papirus». (in Russian).
Gary S. Lynch. Risk Management and Economic Change. A Catalyst for Reevaluating Business Preparedness, Mitigation and ResponseDl.booktolearn.com. Retrieved June 23, 2020, from http://dl.booktolearn.com/ebooks2/management/9780470424964_single_point_of_failure_403b.pdf
Jorion Philippe Value at Risk, The New Benshmark for Managing Financial Risk (2nd Ed.)Lavoisier.fr. Retrieved June 23, 2020, from http://www.lavoisier.fr/livre/notice.asp?id=OOLWR2AAAO3OWX
Mikhaylova E.V. (2009). Innovatsionnye riski venchurnogo investirovaniya v usloviyakh finansovogo krizisa [Innovative risks of venture investment in the financial crisis]. Business. Education. Law. (9). 60-65. (in Russian).
Popov V.M. (2002). Finansovyy biznes-plan [Financial business plan] M.: Finansy i statistika. (in Russian).
Sysoeva I.V. (2007). Upravlenie riskami i rezervnoy sistemoy venchurnyh predpriyatiy [Risk management and reserve system of venture enterprises]. Terra Economicus. 7 (4). 274-277. (in Russian).
Tarasevich L.S. i dr. (2006). Makroekonomika [Macroeconomics] M.: Vysshee obrazovanie. (in Russian).
Volkova A.A., Spiridonova E.E. (2015). Podkhody k klassifikatsiya venchurnyh riskov [Approaches to classification of venture risks]. Vestnik SamGUPS. (2-1(28)). 77-83. (in Russian).
Volkova T.I., Mischerina T.V. (2016). Venchurnoe investirovanie innovatsionnyh proektov: sovremennye tendentsii razvitiya i riski [Venture investment in innovation projects: modern development trends and risks]. Economic analysis: theory and practice. (1(448)). 93-103. (in Russian).
Xiao W.J., Tong Y.H., Wang J.Y. (2008). Empirical study on differences of the venture capital phased evaluation China Soft Science. 12 121-128.
Страница обновлена: 21.03.2025 в 03:56:17