Risk dimensions in enterprises’ financial decisions

Within the current conditions of the context, the managerial financial decisions involve five risk categories: Global Risk, Country Risk, Market Risk, Managerial Risk and Decisional Risk. These categories are always present in a concentric way, from the most general to the most particular. An invest...

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Main Author:	Agüero, Juan Omar
Format:	Online
Language:	Spanish English
Published:	Universidad Nacional de Misiones - Facultad de Ciencias Económicas 2005
Subjects:	Corporate finances; Financial decisions; Risk Finanzas corporativas; Decisiones financieras; Riesgo
Online Access:	https://visiondefuturo.fce.unam.edu.ar/index.php/visiondefuturo/article/view/648

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spelling	ojs-article-6482021-11-17T18:47:29Z Risk dimensions in enterprises’ financial decisions Las dimensiones del riesgo en las desiciones financieras de empresas Agüero, Juan Omar Corporate finances; Financial decisions; Risk Finanzas corporativas; Decisiones financieras; Riesgo Within the current conditions of the context, the managerial financial decisions involve five risk categories: Global Risk, Country Risk, Market Risk, Managerial Risk and Decisional Risk. These categories are always present in a concentric way, from the most general to the most particular. An investment project, for example, implies a decisional risk due to the possibility of investment variation, of revenues, costs, and technology, among others; but, also, this risk is associated to what happens with the enterprise, with the market where the enterprise operates, with the country where the market functions and with the political, economic, financial, and world system. Global risk originates in the interdependence, trans-nationalization and world economic and financial deregulation, the country risk under the political, economic and social conditions of each country, the market risk in the characteristics proper to each market and the managerial risk in the investment structure and of enterprise financing. From this we can see that a financial decision condenses and summarizes these five risk categories that converge and multiply testing even Markowitz and Sharpe’s theoretical models, among others. En las actuales condiciones del contexto, las decisiones financieras empresariales involucran cinco categorías de riesgo: Riesgo Global, Riesgo País, Riesgo de Mercado, Riesgo Empresarial y Riesgo Decisional. Estas categorías están siempre presentes en forma concéntrica, de lo más general a lo singular. Un proyecto de inversión, por ejemplo, implica un riesgo decisional por la posibilidad de variación de la inversión, de los ingresos y costos, de la tecnología, entre otros; pero, además, este riesgo está asociado a lo que pasa con la empresa, con el mercado donde opera la empresa, con el país donde funciona el mercado y con el sistema político, económico y financiero mundial. El riesgo global se origina en la interdependencia, transnacionalización y desregulación económica y financiera mundial, el riesgo país en las condiciones políticas, económicas y sociales de cada país, el riesgo de mercado en las características propias de cada mercado y el riesgo empresarial en la estructura de inversión y de financiamiento de la empresa. Se concluye de esto que una decisión financiera condensa y resume estas cinco categorías de riesgo, que convergen y se multiplican poniendo a prueba incluso los modelos teóricos de Markowitz y Sharpe, entre otros. Universidad Nacional de Misiones - Facultad de Ciencias Económicas 2005-12-20 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf application/pdf https://visiondefuturo.fce.unam.edu.ar/index.php/visiondefuturo/article/view/648 Scientific Journal Visión de Futuro; Vol. 5 No. 1 (2006): Enero / Junio Visión de Futuro; Vol. 5 No. 1 (2006): Enero / Junio Revista Científica Visión de Futuro; Vol. 5 Núm. 1 (2006): Enero / Junio 1668-8708 1669-7634 spa eng https://visiondefuturo.fce.unam.edu.ar/index.php/visiondefuturo/article/view/648/565 https://visiondefuturo.fce.unam.edu.ar/index.php/visiondefuturo/article/view/648/566 https://creativecommons.org/licenses/by-nc/2.5/ar/
institution	Facultad de Ciencias Economicas
collection	Revista Vision de Futuro
language	Spanish English
topic	Corporate finances; Financial decisions; Risk Finanzas corporativas; Decisiones financieras; Riesgo
spellingShingle	Corporate finances; Financial decisions; Risk Finanzas corporativas; Decisiones financieras; Riesgo Agüero, Juan Omar Risk dimensions in enterprises’ financial decisions
topic_facet	Corporate finances; Financial decisions; Risk Finanzas corporativas; Decisiones financieras; Riesgo
format	Online
author	Agüero, Juan Omar
author_facet	Agüero, Juan Omar
author_sort	Agüero, Juan Omar
title	Risk dimensions in enterprises’ financial decisions
title_short	Risk dimensions in enterprises’ financial decisions
title_full	Risk dimensions in enterprises’ financial decisions
title_fullStr	Risk dimensions in enterprises’ financial decisions
title_full_unstemmed	Risk dimensions in enterprises’ financial decisions
title_sort	risk dimensions in enterprises’ financial decisions
title_alt	Las dimensiones del riesgo en las desiciones financieras de empresas
description	Within the current conditions of the context, the managerial financial decisions involve five risk categories: Global Risk, Country Risk, Market Risk, Managerial Risk and Decisional Risk. These categories are always present in a concentric way, from the most general to the most particular. An investment project, for example, implies a decisional risk due to the possibility of investment variation, of revenues, costs, and technology, among others; but, also, this risk is associated to what happens with the enterprise, with the market where the enterprise operates, with the country where the market functions and with the political, economic, financial, and world system. Global risk originates in the interdependence, trans-nationalization and world economic and financial deregulation, the country risk under the political, economic and social conditions of each country, the market risk in the characteristics proper to each market and the managerial risk in the investment structure and of enterprise financing. From this we can see that a financial decision condenses and summarizes these five risk categories that converge and multiply testing even Markowitz and Sharpe’s theoretical models, among others.
publisher	Universidad Nacional de Misiones - Facultad de Ciencias Económicas
publishDate	2005
url	https://visiondefuturo.fce.unam.edu.ar/index.php/visiondefuturo/article/view/648
work_keys_str_mv	AT aguerojuanomar riskdimensionsinenterprisesfinancialdecisions AT aguerojuanomar lasdimensionesdelriesgoenlasdesicionesfinancierasdeempresas
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Risk dimensions in enterprises’ financial decisions

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