Assessment of Economic Security of Russian Construction Companies

The operations of construction companies in modern Russian conditions are subject to significant shocks stemming from the deterioration of macroeconomic conditions, the reduction of large-scale mortgage programs, the increase in the key interest rate by the Central Bank of Russia and a number of other trends and processes. This, in turn, makes it urgent to ensure the economic security of Russian construction companies, which is the key to their survival and competitiveness in dynamically changing markets. This study aims to develop and practically implement methodological tools for assessing the economic security of construction companies and their constituent organizations, based on a comprehensive evaluation of various dimensions and aspects of corporate activity. The study is guided by two hypotheses: 1) it is possible to create a comprehensive universal methodological toolkit that makes it possible to assess the economic security of individual companies, groups of companies and to perform a comparative analysis of companies belonging to various groups (associations); 2) moderately low and very low economic security indicators of companies and organizations that are a structural element (division) of large federal-level real estate companies will not have a significant impact on their activities, but will depend on the performance of other companies of the group and the group as a whole. The case study is LLC "LSR. Stroitelstvo – Ural", which is part of the group of companies of Russia's largest federal developer LSR, as well as divisions of other large federal real estate companies operating in the Ural region. The proposed methodological approach was based on indicator analysis, which is based on assessing the economic security of a company in the context of four blocks of indicators reflecting various aspects of companies' activities, and using universal approaches and algorithms to obtain comparable estimates for various indicators and companies, as well as aggregate (summary) assessments of the economic security of companies. The testing of the methodological tools has shown their feasibility and versatility, as well as the possibility of widespread use in solving problems of development and management of economic security of construction companies and related activities and industries.