INDUSTRY-SPECIFIC ASPECTS OF ENTERPRISE RISK MANAGEMENT IN UKRAINE DURING WARTIME
Abstract
Full-scale war has significantly transformed the business environment for Ukrainian enterprises, giving rise to a complex set of interrelated risks that require a rethinking of traditional approaches to risk management. The purpose of this article is to examine the sector-specific characteristics of risk management at Ukrainian enter-prises in wartime, identify the dominant war-related risks for various economic sec-tors, and develop recommendations for adapting risk management systems to the spe-cific nature of their operations. The methodological basis of the study consists of modern risk management concepts, the international standards ISO 31000:2018 and COSO ERM, and methods of systematization, comparative analysis, econometric modeling, and multiple linear regression. Based on the study’s findings, an integrated matrix of functional contours of military risks was developed, which systematizes se-curity, operational, financial and economic, institutional and legal, human resources and social, digital and information, market, environmental, and management risks, along with their triggers, consequences, and early warning indicators. Based on an econometric analysis of the financial statements of companies in the energy, agri-food, and transportation and logistics sectors, a cross-sectoral asymmetry in the im-pact of military risks on the quick ratio was identified. It was determined that the se-curity risk contour is dominant in the energy sector, the financial-economic and mar-ket risk contours are dominant in the agri-food sector, and the management risk con-tour is dominant in the transportation and logistics sector. The scientific novelty of the study lies in the combination of an integrated matrix of functional risk profiles for military risks, their econometric assessment, and a model of sectoral differentiation in risk management systems. The practical value of the proposed approach lies in its ap-plicability by enterprises, industry associations, and government agencies when de-veloping risk management systems and enhancing business resilience in the face of military threats.
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