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Economics and finances
ArticleName Risk assessment in the field of export sales of finished products of a metallurgical company as the basis of financial safety
ArticleAuthor I. N. Fedorenko

Cherepovets State University (Cherepovets, Russia):

I. N. Fedorenko, Cand. Econ., Assocoate Prof., Dept. of Economics and Management, E-mail:


The subject of the study is the risk management system in the field of export sales of finished products in the context of financial security of Russian steel companies. The aim of the work is to study the causes of risks in the implementation of operations with foreign contractors in the process of sales of steel products. The scientific novelty of the article is to study the factors of occurrence of hotbeds of dangerous transactions of a metallurgical company in terms of possible losses in physical or value terms and substantiation of recommendations in the field of risk management. The theoretical and applied analyses cover the study of the causes of crisis phenomena in the face of uncertainty: loss of profit in transactions through agents and traders, the formation of problem accounts receivable, disloyalty of its own staff. The practical significance of the study is determined by the possibility of using the conclusions and proposals contained in it, which will help to block key risks in the field of export sales and protect against possible financial losses. The approach was reasonable not to create separate service in risk management system for aims achievement in the introduction of updated schemes. The creation of responsibility center – monitoring and reactive risks covering is the most reasonable and functions delegation of maintenance and management in other departments: internal audit department, controlling and auditing service. Risks identifi cation is carried out by detection on the basis of reliable economic information and electronic forms binding to the programs used in the company. It is necessary to note on the assumption of existing practice, that many Russian and western authors state quite clear preferences concerning valuation methods and risk management.

keywords Risks, export sales, international company, expert assessment, financial safety

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