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The article explores the importance of financial stability and resilience for businesses in the context of changing market conditions and volatility. The authors present a research approach aimed at identifying key variables and causes that determine the financial stability of enterprises, as well as developing risk management strategies. It summarizes external factors such as economic conditions, market trends, legal regulation and internal factors, including financial policy, asset and liability management, investment decisions, financial reporting, as important components of ensuring the financial stability and sustainability of enterprises. Particular attention is paid to financial planning, budgeting, working capital management, liquidity, debt management, credit risk, portfolio diversity and diversification, risk management and insurance, as well as the development of alternative sources of financing. The authors summarize the importance of cost optimization and operational risk management in ensuring the financial stability and competitiveness of an organization.
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Gorlov et al. (2023) studied this question.
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