KFU. Card publication. Financial risk management of companies operating in the oil sector in the context of globalization based on the COVID-19 economic impact

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FINANCIAL RISK MANAGEMENT OF COMPANIES OPERATING IN THE OIL SECTOR IN THE CONTEXT OF GLOBALIZATION BASED ON THE COVID-19 ECONOMIC IMPACT

Form of presentation

Articles in international journals and collections

Year of publication

2021

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Authors, employees of KFU

Mironova Margarita Davydovna, author

Bibliographic description in the original language

Mironova M.D, Ibragimov L.G., Financial risk management of companies operating in the oil sector in the context of globalization based on the COVID-19 economic impact//International Journal of Engineering Research and Technology. - 2021. - Vol.13, Is.12. - P.4500-4504.

Annotation

The globalization of the world economy finds expression in the process of the global space being altered where it transforms into a single zone open to the free and unrestricted movement of goods, services, information and capital. A global space makes it easy for ideas to spread and for their carriers to move around thus promoting the development of relevant institutions and putting in place systems of interaction between them. The spread of the COVID-19 pandemic has disrupted the unification of economic life rules and the transformation of the system of interstate regulation of global economic cooperation. There has been a disruption in technological, logistics and business chains resultant from the world's leading national economies closing and many economic entities which operated in the “real economy” shutting down. These “pandemic-caused” factors have put substantial restrictions on the income of companies and their staff while also fueling unemployment.The authors review financial risks common to the oil industry such as currency, credit, interest rate, price risk and liquidity risk all produce a direct impact on the overall financial standing of companies, that is, they affect solvency. Proceeding from this, the authors identify significant factors that affect the level of solvency. The authors offer a set of stabilization measures aimed at managing these factors in order to have a positive impact on the performance indicator that is solvency. This calls for an effective financial risk management system to be put in place, one which will ensure sustainable development and competitiveness for the organization under review in an uncertain environment.

Keywords

Financial Risk, Management, Environment, Oil Industry, Globalization

The name of the journal

International Journal of Engineering Research and Technology

URL

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85099302906&partnerID=40&md5=c02817a7d57ae730dc3bf5bcb798af23

Please use this ID to quote from or refer to the card

https://repository.kpfu.ru/eng/?p_id=247532&p_lang=2

Full metadata record

Field DC	Value	Language
dc.contributor.author	Mironova Margarita Davydovna	ru_RU
dc.date.accessioned	2021-01-01T00:00:00Z	ru_RU
dc.date.available	2021-01-01T00:00:00Z	ru_RU
dc.date.issued	2021	ru_RU
dc.identifier.citation	Mironova M.D, Ibragimov L.G., Financial risk management of companies operating in the oil sector in the context of globalization based on the COVID-19 economic impact//International Journal of Engineering Research and Technology. - 2021. - Vol.13, Is.12. - P.4500-4504.	ru_RU
dc.identifier.uri	https://repository.kpfu.ru/eng/?p_id=247532&p_lang=2	ru_RU
dc.description.abstract	International Journal of Engineering Research and Technology	ru_RU
dc.description.abstract	The globalization of the world economy finds expression in the process of the global space being altered where it transforms into a single zone open to the free and unrestricted movement of goods, services, information and capital. A global space makes it easy for ideas to spread and for their carriers to move around thus promoting the development of relevant institutions and putting in place systems of interaction between them. The spread of the COVID-19 pandemic has disrupted the unification of economic life rules and the transformation of the system of interstate regulation of global economic cooperation. There has been a disruption in technological, logistics and business chains resultant from the world's leading national economies closing and many economic entities which operated in the “real economy” shutting down. These “pandemic-caused” factors have put substantial restrictions on the income of companies and their staff while also fueling unemployment.The authors review financial risks common to the oil industry such as currency, credit, interest rate, price risk and liquidity risk all produce a direct impact on the overall financial standing of companies, that is, they affect solvency. Proceeding from this, the authors identify significant factors that affect the level of solvency. The authors offer a set of stabilization measures aimed at managing these factors in order to have a positive impact on the performance indicator that is solvency. This calls for an effective financial risk management system to be put in place, one which will ensure sustainable development and competitiveness for the organization under review in an uncertain environment.	ru_RU
dc.language.iso	ru	ru_RU
dc.subject	Financial Risk	ru_RU
dc.subject	Management	ru_RU
dc.subject	Environment	ru_RU
dc.subject	Oil Industry	ru_RU
dc.subject	Globalization	ru_RU
dc.title	Financial risk management of companies operating in the oil sector in the context of globalization based on the COVID-19 economic impact	ru_RU
dc.type	Articles in international journals and collections	ru_RU