Scientific methodological basis of the risk management implementation for companies’ capital structure optimization

Maria Vladimirovna Petrovskaya, Natalia A. Zaitseva, Natalya V. Bondarchuk, Elena M. Grigorieva, Ludmila S. Vasilieva

Research output: Contribution to journalArticlepeer-review

22 Citations (Scopus)


The relevance of studying the issues related to the risk management implementation for companies’ financial management system advancement is explained with the research among scientific methodological studies and commercial enterprises’ practical activities of some ways to optimize the capital structure taking into account various factors that impact on this structure. There are no methodological and practical guidelines for solving the given problems. Basing on the employment of the theory-empiric methods of investigation a unifying model of commercial enterprises’ risks evaluation and management has been developed. The novelty of the investigation results consists in working out a matrix of the main reasons for analyzed risks arising and of a relationship model “risk-reason” that helps to estimate the most important causes for each basic risk and to evaluate the probability of every cause occurrence. Moreover, the authors have proposed and described a relationship matrix “risk-reason”: find out a critical cause having the greatest impact on the company’s activity riskiness, put the causes in order of occurrence frequency, set a rating for the essentiality of the cause impact on company’s activity risk. Applying the methodological approaches of the risk management implementation for companies’ capital structure optimization for real business would let to improve the financial management efficiency leading to the raise of enterprise business performance results.

Original languageEnglish
Article numberiejme.2016.215
Pages (from-to)2571-2580
Number of pages10
JournalMathematics Education
Issue number7
Publication statusPublished - 2016


  • Capital structure
  • Capitalizationitalization
  • Cost of capital
  • Financial management
  • Leverage
  • Risk management

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