CONCEPT AND TYPES OF FINANCIAL RISK

The term "risk" can be found in the conceptual apparatus of many social sciences. However, there has been no common understanding of the phenomenon denoted by this term so far. The object of this research is the concept and types of financial risk. The research is based on the use of the dialectical and logical methods of scientific knowledge. They made it possible to reach the identified objectives. The author summarizes different scientific views on risk and suggests his own vision of the phenomenon and his position regarding financial risk and its types. Any undesirable change in a subject's status always has a valid reason. It includes a cause of such change and a set of conditions under which the cause emerges and becomes effective. The possibility for all the conditions necessary and sufficient for the emergence and effect of the said cause to occur is called "hazard." And the hazard-based possibility of an undesirable change in a subject's status is denoted by the term "risk." Financial risk is a hazard-based possibility of an undesirable change in a social subject's monetary status. The latter is the object of financial risk, and financial property is its matter. Based on its matter, financial risk is subdivided into four types: currency risk, investment risk, credit risk and debt risk. Derivative financial risk is additionally identified as a complex image of the main financial risk types. The opposite of financial risk is financial chance, i.e. a desirable change in the monetary status of a social subject.

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