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Title: Impact of the global recession on financial and economic sustainability of industrial companies
Authors: Khudyakova, Tatyana A.
Shmidt, Andrey V.
Keywords: Financial crises
Sustainable development
Sustainable development -- Management
Business enterprises
Financial risk management
Issue Date: 2019
Publisher: University of Piraeus. International Strategic Management Association
Citation: Khudyakova, T. A., & Shmidt, A. V. (2019). Impact of the global recession on financial and economic sustainability of industrial companies. European Research Studies Journal, 22(1), 143-157.
Abstract: On the cusp of the 20th and 21st centuries it is extraordinary difficult to provide the stability of national economies due to globalisation effects. In fact, globalisation causes major interdependence between economies of different countries, therefore, their economic relations influence the world economic climate. Countries develop strong business ties with their counterparts; national economies are integrated due to such factors as division of labour, internationalisation of monetary funds, scientific and technological progress, increasing degree of national economies openness and free trade. As a result, economies of different countries integrate into the worldwide reproduction process. International economic integration indicates a high development level of global economy. However, since single countries become exposed and highly susceptible to changes in economies of other states, the external environment is implied to present a significant uncertainty for commercial operations in single countries. Hence, in order to provide a stable functioning of both individual businesses and national economies it is necessary to analyse macro- and microeconomic parameters carefully, identify consistent patterns and make relevant predictions aimed at preventive management. The present article will discuss these challenges.
Description: South Ural State University is grateful for financial support of the Ministry of Education and Science of the Russian Federation (grant No 26.9677.2017/ВР). The work was supported by Act 211 Government of the Russian Federation, contract № 02.A03.21.0011.
Appears in Collections:European Research Studies Journal, Volume 22, Issue 1

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