ДОСЛІДЖЕННЯ ГНОСЕОЛОГІЇ ТА РОЗВИТКУ ФІНАНСОВОГО РИЗИКМЕНЕДЖМЕНТУ: ВИТОКИ, КОНЦЕПЦІЇ, ПЕРСПЕКТИВНІ НАПРЯМКИ
Authors:   Donetsk National Technical University ", Antonenko Valentyna ,   Donetsk National Technical University", Sukhina Olena ,   State Institution «Institute of Economies of Environmental Use and Sustainable Development of the National Academy of Sciences of Ukraine»
Published: July 2023

Goal – research of financial rhysicology from the standpoint of modern theoretical and practical requirements, identification of existing problems in the theory and practice of financial risk management and determination of directions for its further development in order to increase the effectiveness of practical financial management of enterprises in conditions of increased uncertainty of the environment in which they (enterprises) operate. Method. To achieve the goal, analytical studies were performed and scientific methods were used, in particular: content analysis of modern views and positions of domestic and foreign scientists regarding the definition and classification of entrepreneurial, economic and financial risks; the method of system analysis and portfolio factor analysis for structuring and determining the hierarchy in the risk system, a systematic approach in substantiating the unity of strategic, tactical and operational risk management; assessment of quantitative and qualitative methods of financial risk analysis, as well as methods of behavioral economics. The results. Considering the relevance of the topic, the main attention is paid to the analysis of financial rhysicology with an in-depth study of the complex of theoretical, scientific and practical aspects of this topic. The objective prerequisites for the formation and history of the development of financial rhysicology and its scientific connections with other related fields of scientific knowledge have been studied. The content analysis of the publications of domestic and foreign scientists in the field of financial risk management and those related to it made it possible to identify the main problems and unresolved issues that are currently inhibiting the development of financial management. It has been proven that such obstacles include, in particular: the vague definition of the specifics of financial risks and the lack of research into their systemic synergistic relationships with other risks; a certain disregard of the objective relationship between strategic, tactical and operational financial risk management and the absence of indicators of strategic, tactical and operational financial risks adapted to the conditions and features of a specific industry, enterprise, situation, etc.; insufficient development of financial risk assessment methods for the most risky types of activities or financial transactions; the need to develop and apply the manager's risk appetite in financial risk management; inadequate use of outdated, including foreign, methods and models in the methods of financial analysis and bankruptcy forecasting; excessive, sometimes unjustified, use of complex mathematical methods and models in financial risk management, which reduce the effectiveness of risk management. Scientific novelty. The conducted research has a scientific result: a system of portfolios of modern economic and economic risks that affect financial risks; substantiating the combination of strategic, tactical and operational financial risk management as a complete system – the triad of financial management; pragmatically priming transition from classical to neoclassical rhysicology; justification of changes in the methods of financial analysis and bankruptcy forecasting and the principled rejection of the use of outdated and therefore inadequate methods and models; substantiation of the application of elements of behavioral economics, in particular – the risk appetite of the financial manager, when making management decisions, which in the complex made it possible to form a list of the most relevant areas of further scientific research. Practical significance. The results of the study are aimed at improving the practice of making financial decisions and carrying out financial transactions taking into account the existing economic, economic and financial risks; should ensure the validity and improve the effectiveness of the relevant management actions. Key words: risk, classical and neoclassical rhysicology, content analysis, financial risk, financial management, system, financial analysis, risk appetite.