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ASSESSMENT OF FINANCIAL SECURITY OF AN ENTERPRISE ON THE BASIS OF BEHAVIORAL ECONOMICS

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The article substantiates that the level of company’s financial security depends not so much on the indicators of its activity, but on its perception of decision-makers and other stakeholders. At the same time, this perception is formed due to the continuous participation of the stakeholder in operations, constant monitoring of financial indicators, the study of current approaches to enterprise management, changes in the environment, market conditions, etc. The role of economic analysis in assessing company’s financial security as a state is not in its complex study, but in the presented economic indicators, the processing of quantitative data on the company’s financial security. Instead, to speak of a comprehensive and thorough study of the level of financial security on the basis of economic analysis only would be incorrect and unreliable. Indices, indicators that are analyzed on the basis of financial or management reporting provide only a cursory view of the problem or even distort the overall picture, as they are taken at a particular point in time. For example, liquidity indicators change in certain groups of businesses and the country's economic or political environment can transform a liquid company with a solid stock of liquidity into absolutely illiquid in a few moments. However, considering the previous data of economic analysis without bearing in mind other aspects, it is possible to make fatal decisions for the company. Although, of course, such a scenario is impossible, since behind each enterprise there are people, whose decisions and experience depend on its further development, and practice shows that such people are not oriented solely to economic analysis data without context, to assess the situation in the economy of the country or the world in general. Their experience and perception of financial security are essencial in decision making. Thus, the paper argues that the method of expert assessment of company’s financial security is the most objective one, which, however, has disadvantages associated with cognitive limitations of people

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Accepted albo Published Version
Licencja
Creative Commons: CC-BY otwiera się w nowej karcie

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Kategoria:
Publikacja w czasopiśmie
Typ:
artykuły w czasopismach
Opublikowano w:
BULLETIN OF THE CHERKASY BOHDAN KHMELNYTSKY NATIONAL UNIVERSITY. ECONOMIC SCIENCES strony 44 - 59,
ISSN: 2707-5036
Język:
ukraiński
Rok wydania:
2020
Opis bibliograficzny:
Melnychenko O.: ASSESSMENT OF FINANCIAL SECURITY OF AN ENTERPRISE ON THE BASIS OF BEHAVIORAL ECONOMICS// BULLETIN OF THE CHERKASY BOHDAN KHMELNYTSKY NATIONAL UNIVERSITY. ECONOMIC SCIENCES -,iss. 3 (2020), s.44-59
DOI:
Cyfrowy identyfikator dokumentu elektronicznego (otwiera się w nowej karcie) 10.31651/2076-5843-2020-3-44-59
Weryfikacja:
Politechnika Gdańska

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