Corporate education system as a factor of ensuring modern companies’ financial stability

Purpose: This article aims to identify the role of corporate universities opened by large holdings for their employees’ effective training as a part of the company’s mission implementation and ensuring business financial stability strategy. Design/Methodology/Approach: To implement flexible project management of the companies’ financial stability, a concept of corporate university development is presented on the grounds of a competency-based approach. Main emphasis of the competency-based approach is aimed at the labor functions performance and establishment of a correlation between competence and labor efficiency of employees. Findings: Methods and techniques of corporate education are aimed at creating human capital development optimal model, ensuring the company’s financial stability. Practical Implications: The study results were tested as part of a corporate retraining program for the specialists at the “Russian Railways” company in Rostov-on-Don. Participation in corporate university programs allows employees responding quickly to market changes. Originality/value: Main contribution of this study is to create an algorithm for transmitting the company's strategy to all management levels. The tools for key changes in the company’s organizational and financial management system are formed at a corporate university.peer-reviewe

Development of risk-oriented technologies of the corporate financial controlling system

Financial controlling is one of the functions of financial relations of management system whose main task is to monitor the correct functioning of these relations at the level of a certain managed object with the purpose to decide on sufficiency and effectiveness of managerial decisions. The article considers some peculiarities of creation of a corporate system of financial controlling on the basis of systematization of the existing theoretical and methodical approaches. Also the article presents some directions of improvement of financial controlling tools as well as the results of development of risk-oriented technologies which are aimed at providing financial stability of modern corporations.peer-reviewe

Risk control in modeling financial management systems of large corporations in the digital economy

Purpose: Growth in the uncertain business environment leads to the formation of demand for new institutional and legal conditions for the financial and investment strategies. The article discusses features of risk-oriented control in the context of digitalization. Design/Methodology/Approach: The study involves modern concepts of uncertainty theory and risk management solutions coupled with the analysis of factors affecting the system risk formation and development. Findings: Authors have developed the features of a modern global economic system, influencing risk formation and development, highlighted the prospects for the digitization of business systems and concluded that in terms of digitization interactive interagency cooperation of the real economy development support is main and required element of the Russian economic system's institutional matrix. Practical Implications: The research results may be implemented into financial management systems of large industrial corporations. Originality/Value: The main contribution of this study is the modern digitalization pattern affecting the financial systems'development.peer-reviewe

Ensuring financial stability of companies on the basis of international experience in construction of risks maps, internal control and audit

The managerial information can be considered as the basis for implementation of system organized phenomena which provide development of instruments, methods and strategies of management. The information is updated and implemented in the system of control actions on the object of management. A universal principle of information and financial correspondence of techniques and instruments exists between managerial information and selected vector of the financial strategy of the company development. In conditions of close informational interaction of professional auditing companies and their regular customers the construction of enterprise risk maps takes place, which allows eliminating imbalances of development based on financial consulting. It is professional financial consulting on the basis of high-quality managerial information that enables companies interacting with auditors to ensure financial stability. Development of risk management systems supposes appearance at all levels of the information management system of specialists in risk management understanding the peculiarities of risk-management methods. In order to ensure financial stability it is important to make the risk management instruments at the level of its comprehensibility to apply them for identifying the really existing risks.peer-reviewe

Financial engineering in a mechanism of public-private partnership in realization of the regional investment projects

Under the conditions of limited economic growth and risk of budget deficit the concept of financial engineering allows corporate structures with state participation optimizing financial resources movement, attracting additional sources of financing and minimizing cost of their usage. On the basis of financial engineering instruments the corporations solve the tasks of diverse complexity in the field of financial transactions, in particular with securities, make a balanced decision when developing financial and investment projects.peer-reviewe