Персона: Когденко, Вера Геннадьевна
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АНАЛИТИКА УСТОЙЧИВОГО РАЗВИТИЯ И ОЦЕНКА СТЕЙКХОЛДЕРСКИХ РИСКОВ В НЕФИНАНСОВОЙ ОТЧЕТНОСТИ
Монография посвящена отраслевым аспектам анализа устойчивого развития и формированию нефинансовой отчетности публичных компаний, ориентированной на раскрытие стейкхолдерских рисков. Содержит большую эмпирическую базу и охватывает четыре ключевых направления: риск-ориентированная концепция нефинансовой отчетности; алгоритм формирования типовой модели отраслевой нефинансовой отчетности в области устойчивого развития; аналитический инструментарий оценки раскрытия рисков, связанных с деятельностью компании, в корпоративной (нефинансовой) отчетности; отраслевая аналитика устойчивости развития публичных компаний. Для научных работников, исследователей, преподавателей, соискателей научных степеней. Может быть использована в системе дополнительного профессионального образования, повышения квалификации, для саморазвития управленческого персонала финансово-экономических служб в бизнесе и государственных структурах.
Assessment and forecasting of economic sustainabili-ty of russian metallurgical companies
© 2020, "Ore and Metals" Publishing house. All rights reserved.The study is aimed at assessing and forecasting the economic sustainability of Russian metallurgical companies based on Harvard branch analysis methods adapted to the industry. The proposed methodology includes two stages: identifying trends and key risk factors for industry sus-tainability based on the analysis of major companies activities; adjustment of forecasts of economic sustainability for individual metallurgical companies based on the risk-based approach. At the first stage, the results of the study revealed both positive and negative factors affecting the economic stability of companies in the metallurgical industry. Among the positive processes, it should be noted: the increase in the exports share of the metallurgical industry (14%), the decrease in depreciation of fixed assets to 40%, the increase in the digitalization of business processes, the increase in the operational efficiency and financial activity of major companies, the reduction in the number of bankruptcies and liquidation of businesses. To understand industry trends, the analysis of the largest companies has been carried out, which indicates positive trends in cost management, circulating capital and asset utilization. Industry analysis made it possible to identify key risk factors for reducing investment activity and economic stability: environmental security risk, high political risk due to economic sanctions, uncertainty in world markets and, as a result, high volatility of demand and prices for products and raw materials, insufficient capacity utilization; strategic risks of investments in energy and resource-saving technologies and industrial safety; risks of aggressive dividend policy. The second stage of the analysis was to update forecasts of the economic sustainability of individual metallurgical companies, not belonging to the largest ones, but included in the group of public, socially significant for specific territories or single-industry towns from the position of importance in their socio-economic development, having a unique specialization of activity and therefore priority in attracting investment. Interpretation of the obtained results proved their comparability with calculations based on the known discriminant models. At the same time, the assessment turned out to be more unequivocal and refined, which is essential for the substantiation of investment objects, the development of regional investment programs, including the development of medium and small businesses. The novelty of the author’s approach consists in integrating the methods used in industry and microeconomic studies to assess the economic sustainability of socially significant metallurgical companies, highlighting new enlarged areas of industry research, as well as developing the new risk-based approach to sub-stantiate indicators and their significance in a point-rating evaluation system.
Social responsibility and environmental safety risks monitoring of metallurgical companies using an industrial approach
© 2020 International Multidisciplinary Scientific Geoconference. All rights reserved.The study was aimed at monitoring social responsibility and environmental risks of the largest Russian metallurgical companies based on public reports and other sources of information. The methodological basis of the study was the regulatory documents on environmental safety, sustainable development standards in the field of ecology; information and rating agencies data; Internet resources of metallurgical companies, their financial and environmental reports, analytical reviews; works of foreign and Russian scientists on environmental safety issues; monitoring data conducted by the Russian Union of Industrialists and Entrepreneurs. Social responsibility and environmental risks of metallurgical companies monitoring is based on a sectoral approach and identification of their trends. The study included four areas: the quality of environmental management; disclosure of indicators in environmental reports; the relationship between the economic and environmental components of the reporting companies in the field of sustainable development, transparency and consistency of public information about the business, which forms the business and social reputation of the company. Thus, the author's assessment of companies' environmental safety is directly related to their economic and social sustainability, is based on trends in value created, the ratio of investments allocated to environmental protection and stakeholders' paid dividends. The study made it possible to analyse the metallurgical companies' indicators representativeness according to the environmental reports, as well as to assess the level and trends of environmental safety, using the average annual rates of change in the indicators of specific emissions of pollutants into the atmosphere and specific discharges of pollutants into water bodies. The results of the study made it possible to identify both positive and negative factors affecting the environmental safety of Russian metallurgical industrial companies. Among the positive processes, it is worth mentioning an increase in social responsibility for environmental protection, investment of funds in environmental projects, an increase in information transparency of environmental reports, participation in corporate social responsibility ratings. A key indicator of positive trends is an increase in the level of environmental safety over the period from 2016 to 2019. The negative factors are the decline in investment activity of the largest companies and the growing aggressive dividend policy of the owners, which leads to strategic risks of investing in energy-saving and resource-saving technologies and industrial safety.