Finance and Credit
 

Risk management in global value chains

Vol. 24, Iss. 1, JANUARY 2018

Received: 30 November 2017

Received in revised form: 14 December 2017

Accepted: 28 December 2017

Available online: 29 January 2018

Subject Heading: CHALLENGES OF GLOBALIZATION

JEL Classification: F01, F21, F65, G32, O16

Pages: 111–126

https://doi.org/10.24891/fc.24.1.111

Golovin A.O. Higher Business School (Institute), Tver, Russian Federation
AGolovin@outlook.com

ORCID id: 0000-0002-5738-4194

Tolkachenko G.L. Tver State University, Tver, Russian Federation
tolkachenko59@mail.ru

ORCID id: 0000-0002-3537-2942

Importance This article discusses the issues of development and improvement of risk management in global value chains (GVC).
Objectives The article aims to consider the changing situation in transnational business, emergence and development of new risks. As well, it aims to form a possible new approach to risk management in global value chains.
Methods The study rests on the expert evaluation method, comparative analysis, and heuristic prediction.
Results This article demonstrates the need for comprehensive risk management across the entire global value chain, helping to effectively identify risks and minimize their impact. The article also says about the need to rethink the general approach to risk management in global chains.
Conclusions and Relevance Systemic, market, operational, credit, and other risks should be tracked across all parts of the global chain. Risk monitoring should cover absolutely all business participants in GVC. Only integrated actions to identify risk and apply a set of financial and non-financial instruments lead to the necessary results.

Keywords: globalization, global chains, risk, management

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