Gеnesis of the risk`s concept as an economic category

Сосновська, Ольга Олександрівна (2017) Gеnesis of the risk`s concept as an economic category Економічний простір (124). pp. 4-18. ISSN 2224-6282

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Abstract

Functioning and development of the modern economic environment is accompanied by the complication of causal and functional links between market mechanism's elements, the complication of economic reality and the emergence of threats in the activities of business entities. The existence of such trends confirms that the problem of risk research as a phenomenon of the market economy is becoming increasingly social value. The article is devoted to the study of risk's categorical and conceptual apparatus and its refinement on the basis of a critical analysis of existing systematized scientific approaches to find out the causes of risk, the allocation of its criteria and the definition of risk definition as an economic category. It is determined that when clarifying the economic essence of risk, there are a number of discussion issues regarding the objective and subjective nature of risk, negative or positive consequences of risk, risk identification with its sources and effects. As a result of scientific research, such criterion of risk was identified as uncertainty, which is a risk factor and is characterized by the existence of a non-linear dynamical nature of the socio-economic processes' development; the probability characterizes the frequency of the possible occurrence of an accidental event with an unpredictable end result; the alternative suggests the need to select a range of alternative solutions to neutralize or minimize the negative effects of a risky event; the economic nature of risk is manifested at all stages of the economic activity of entities regardless of its sphere and has a direct correlation with its financial results; uncertainty of the final results as an opportunity to generate profit or loss. On the basis of the allocation of risk's criterion signs, it was proposed to identify the risk as an economic category, which is associated with the probability of unforeseen situations' occurrence under the influence of objective and subjective factors and involves the need to select existing alternative solutions to economic agents to obtain positive or negative performance results.

Item Type: Article
Uncontrolled Keywords: risk; uncertainty; objective and subjective nature of risk; consequences of risk; signs of risk
Subjects: Articles in journals > Фахові (входять до переліку фахових, затверджений МОН)
Divisions: Факультети > Факультет інформаційних технологій та управління > Кафедра фінансів та економіки
Depositing User: Sosnovska Ольга Александровна Сосновская
Date Deposited: 21 Dec 2017 11:52
Last Modified: 21 Dec 2017 11:52
URI: http://elibrary.kubg.edu.ua/id/eprint/22337

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