Importance The article studies the problems related to development of company risk analysis based on the stakeholder approach. Objectives The purpose is to identify the risk profile of a company, taking into account its key stakeholders and the economic sector it operates in, to develop analytical tools for risk assessment, and to provide a rationale for risk management techniques. Methods The stakeholder concept, the theory of the economy's sectoral structure serve as a methodological framework for proposals on analysis development. The methodology considers the provisions of the International Integrated Reporting Framework. Results The paper presents a methodology to analyze company risks based on the stakeholder approach. It includes three stages. The first stage implies identification of company risk profile, taking into account key stakeholders and specific company risks regardless of the sector of the economy; the second stage – assessment of these risks' impact on reporting indicators; the third stage – description of risk indicators and justification of risk management methods. Based on the review of public reports of the largest Russian companies, I offer indicators for risk assessment and unveil typical approaches of companies to risk management. Conclusions The developed algorithms enable to link the risks of a company with its sectoral affiliation and identify the most significant ones. The article may be useful for specialists of financial services involved in financial decision making based on the stakeholder approach.
Karlgaard R. V zdorovom biznese – zdorovyi dukh. Kak velikie kompanii vyrabatyvayut immunitet k krizisam [The Soft Edge: Where Great Companies Find Lasting Success]. Moscow, Mann, Ivanov i Ferber Publ., 2015, 310 p.
Damodaran A. Strategicheskii risk-menedzhment: printsipy i metodiki [Strategic Risk Management: Principles and Methods]. Moscow, Vil'yams Publ., 2017, 496 p.
Crouhy M., Galai D., Mark R.M. Osnovy risk-menedzhmenta [The Essentials of Risk Management]. Moscow, Yurait Publ., 2017, 390 p.
Pike R., Neale B., Linsley Ph. Korporativnye finansy i investirovanie [Corporate Finance and Investment: Decisions and Strategies]. St. Petersburg, Piter Publ., 2006, 784 p.
Blank I.A. Upravlenie finansovoi bezopasnost'yu predpriyatiya [Financial security management of the enterprise]. Kiev, El'ga Publ., 2013, 776 p.
Dyagel' O.Yu., Koneva O.V., Dyagel' A.V. [Methodological support to economic security assessment: Microeconomic aspect]. Innovatsionnoe razvitie ekonomiki = Innovative Development of Economy, 2016, no. 4, pp. 323–336. (In Russ.)
Brealey R., Myers S., Allen F. Printsipy korporativnykh finansov [Principles of Corporate Finance]. Moscow, Olimp-Biznes Publ., 2007, 1008 p.
Doverie i nedoverie v usloviyakh razvitiya grazhdanskogo obshchestva [Trust and mistrust in the development of the civil society]. Moscow, NRU HSE Publ., 2013, 564 p.
Zaman Arif. Reputatsionnyi risk: upravlenie v tselyakh sozdaniya stoimosti [Reputational Risk: How to Manage for Value Creation]. Moscow, Olimp-Biznes Publ., 2008, 416 p.