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Paper Details

SPECIFICS OF BUSINESS RISKS PERCEPTION IN RUSSIA

Gennady Vasilyevich Kovalenko

Journal Title:Theoretical & Applied Science
Abstract


The analysis of differences in business risks perception between Russia and other countries (groups of countries) is built on the empirical data of 2014 aggregated from several sources. The discussion includes the specific features of the perception of business risks in Russia: the emphasis is put on non-market risks and concerns about the risk of unavailability of financing. There is lack of attention to the risk of business interruption and indifference to the loss of reputation brand value as well as to the risks of cyber threats. The key reason for such differences compared to other countries is formulated: there is a low level of trust in the business-to-business, buyer-seller and business-state relationships. The possible effect of increasing level of trust on the Russian business receptivity to innovation and competitiveness is put under consideration.

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