Financial Risk Management of Ukrainian Enterprises in the Context of Global Economic Instability

Abstract

In the current conditions of global economic instability, the issue of ensuring financial stability of enterprises is becoming particularly relevant. The deepening of the crisis in the global financial and economic system, the intensification of geopolitical tensions and internal imbalances in the Ukrainian economy necessitate the improvement of approaches to financial risk management. The aim of the study is to provide a theoretical generalisation and practical justification of the peculiarities of financial risk management in Ukrainian enterprises in conditions of global instability, taking into account modern challenges that require the adaptation of existing approaches and the introduction of new anti-crisis instruments. The article systematises the types of financial risks threatening Ukrainian enterprises in a crisis period, in particular: the risk of liquidity loss, the risk of insolvency, the risk of devaluation, the risk of an increase in the cost of borrowed capital, etc. Based on expert analysis, the key factors contributing to the growth of financial risks have been identified: inflation and currency fluctuations, instability of the tax and regulatory environment, and military turbulence. The methodological basis of the study consisted of general scientific and special methods: analysis and synthesis, comparative assessment, generalisation, expert assessment, etc. Results. The study analysed the current risks affecting the financial stability of enterprises, compared the effectiveness of existing management tools, and outlined strategic directions for strengthening risk management. A financial risk management model was proposed that takes into account the specifics of the Ukrainian environment and responds to the challenges of global turbulence. Conclusions. The application of a sound approach to financial risk management will increase the adaptability of enterprises to the conditions of global economic turbulence, reduce the likelihood of crisis situations and contribute to the preservation of financial stability. The proposed model has the potential for practical implementation in the activities of domestic enterprises and is a tool for increasing their financial resilience.