BANKRUPTCY AS A RISK AND A TOOL FOR PREVENTIVE RESPONSE IN ENTREPRENEURIAL ACTIVITY
M. S. Oborin
Perm Institute (branch) of the Plekhanov Russian University of Economics; Perm State National Research Uni-versity; Perm State Agro-Technological University named after Academician D. N. Pryanishnikov, Perm, Russia
e-mail: recreachin@rambler.ru
M. R. Martirosyan
Perm State National Research University, Perm, Russia
e-mail: martirosyanm@mail.ru
Abstract. The evolution of economic relations, changes in the regimes and conditions of doing business naturally contributed to the formation of the institution of bankruptcy, which has economic and legal characteristics and content. The institution of bankruptcy is a mechanism for regulating macroeconomic and market processes by the state, controlling the stability of financial and economic activities in the regions of the country, regardless of the level of risk and industry affiliation of business entities. Bankruptcy of an enterprise —is an economic state of insufficient liquid assets to cover urgent obligations (subjective bankruptcy), which can be fixed in court (objective bankruptcy). One of the reasons that lead any business structure to ruin is the mistakes of the management structure when making strategic decisions regarding the alternative development of the company. Thus, the main component of effective enterprise development and forecasting of potential risks is a rationally developed management strategy. The purpose of the study is to clarify the substantive and procedural aspects of bankruptcy as a complex intersectoral institution and to develop a model of preventive and anti-crisis management of the risk of bankruptcy of enterprises.
The main research methods are historical-legal, content-analysis of normative-legal acts regulating the issues of insolvency, analysis of statistical data on the studied problem, modeling.
The article considers various directions of scientific and theoretical interpretation of the concept and signs of bankruptcy. The effectiveness of regulatory and economic methods and institutions of bankruptcy regulation in Russia has been evaluated. The stages of development of the conceptual foundations of insolvency related to the formation of legislation are presented. The structure of bankruptcy as a complex intersectoral institution is presented, taking into account the substantive and procedural aspects. The scientific novelty of the research lies in the development of a model of preventive and anti-crisis management of the risk of bankruptcy of enterprises, the significance of which lies in the predictive determination of key risks, taking into account the strategy and tactics of entrepreneurial activity. Successful foresight of negative changes in the external and internal environment, development of scenarios of compensation of consequences are most important in the prevention of insolvency. The directions of future research are related to the formation of a strategic management system focused on the characteristics of small and medium-sized businesses and the development of parameters for predicting the risk of bankruptcy.
Key words: bankruptcy, risks, business activity, signs of bankruptcy, business environment, conceptual framework, preventive response.
Cite as: Oborin, M. S., Martirosyan, M. R. (2021) [Bankruptcy as a risk and a tool for preventive response in entrepreneurial activity]. Intellekt. Innovatsii. Investitsii [Intellect. Innovations. Investments]. Vol. 3, рр. 35–47. DOI: 10.25198/2077-7175-2021-3-35.
