Simulation and risk management of financial activities in the digital economy era

• Published in: Nexo (Managua, Nicaragua) Vol. 34; no. 4; pp. 1388 - 1395
• Main Authors: Gasparian, Mikhail Samuilovich, Kiseleva, Irina Anatolievna, Titov, Valery Aleksandrovich, Olenev, Leonid Anatolyevich
• Format: Journal Article
• Language: English
• Published: 28.10.2021
• ISSN: 1818-6742; 1995-9516
• DOI: 10.5377/nexo.v34i04.12684

The present article attempts to study the role of financial risk management in the digital economy era. The main purpose of the article is to identify the main patterns that determine the features of risk assessment in business as the main element contributing to the achievement of economic security of the organization, as well as to carry out a comparative analysis of risk assessment and risk management methods in the context of digitalization. The contemporary economic analysis employs various risk management methods. Digitalization also creates new risks, most of which are related to cybercrime and fraud on the Internet. The most effective ways to reduce risk in the context of instability of the economic and political situation in Russia are the scenarios method and the method of analyzing hierarchies, as well as diversification, i.e. the distribution of risks among several business participants. The article discusses various types of economic risks, risk analysis, and assessment methods, as well as risk neutralizing strategies.