Stratification of expenses of insurance funds to cover risk situations of production process

User Rating:  / 0
PoorBest 

Authors:

O. I. Polukarov, Cand. Sc. (Tech.), Assoc. Prof., Associate Professor of the Department of Occupation, Industrial and Civil Safety, orcid.org/0000-0003-4260-0330, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

N.A.Prakhovnik, Cand. Sc. (Tech.), Assoc. Prof., Associate Professor of the Department of Occupation, Industrial and Civil Safety, orcid.org/0000-0003-0821-2166, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Yu.O.Polukarov, Cand. Sc. (Tech.), Assoc. Prof., Associate Professor of the Department of Occupation, Industrial and Civil Safety, orcid.org/0000-0002-6261-3991, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

O. Ye. Kruzhilko, Dr. Sc. (Tech.), Senior Research Fellow, Acting General Director, orcid.org/0000-0001-8624-1515, Public Agency “National Research Institute of Industrial Safety and Occupational Safety and Health”, Kyiv, Ukraine

H. V. Demchuk, Cand. Sc. (Tech.), Assoc. Prof., Associate Professor of the Department of Occupation, Industrial and Civil Safety, orcid.org/0000-0003-3939-5516, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2020, (3): 137-144

https://doi.org/10.33271/nvngu/2020-3/137

 

повний текст / full article

 

Abstract:

Purpose. To estimate the formation of insurance funds that can be used to solve problems and cover the structural components of countering the financial crisis.

Methodology. In the research, the authors applied the method of simulation modeling, which allowed identifying several scenarios that can be implemented in formation of insurance funds with different coverage for companies of the mining and metallurgical complex. In addition, a technique was used to construct the tree method, which suggests the multivariance of formation of insurance coverage depending on the probability of occurrence of certain events.

Findings. This work provides a comparative analysis of bankruptcy models and ensuring financial stability of the enterprise for the purpose of quality control of manufactured products. The authors of the article have developed a model that can serve as a basis for the formation of intelligent decision-making process at a constant level of risk. The paper indicates that the main factor of risk conditions formation is reduction in the cost of ensuring the safety of production processes, which generates secondary risk in the conditions of enterprises of the mining and metallurgical complex.

Originality. The safety of the production process is determined depending on how significant the financial reserves of the enterprise should be to cover possible losses and, accordingly, the situation when financing of the enterprise will require additional financial flow. In this situation, the current cash flows of the enterprise can be used and the peculiarities of reducing costs for ensuring the safety of the production process are considered. In this work, this aspect is defined as a probabilistic one. Modeling financial stability is carried out with the consideration of the factor of ensuring the proper level of safety of the production process.

Practical value. The data obtained allows predicting payments not only from insurance funds of enterprises, but also from other sources that affect the probability of bankruptcy or deterioration of financial condition of the enterprise.

References.

1. Zuo, J., Zhao, Z., Xia, B., Zillante, G., & Pan, Z.-Y. (2015). Sustainability reporting in construction contractors. In: D. Yang & Y. Qian (Eds.), Proceedings of the 18 th International Symposium on Advancement of Construction Management and Real Estate, (pp. 341-348). Berlin: Springer Berlin Heidelberg. https://doi.org/10.1007/978-3-642-44916-1_34.

2. Ayres, R. U. (2017). Gaps in mainstream economics: energy, growth, and sustainability. In S. Shmelev (Ed.), Green Economy Reader: Lectures in Ecological Economics and Sustainability, (pp. 39-53). Cham: Springer International Publishing. https://doi.org/10.1007/978-3-319-38919-6_3.

3. Shatokha, V. (2016). The sustainability of the iron and steel industries in Ukraine: challenges and opportunities. Journal of Sustainable Metallurgy, 2(2), 106-115. https://doi.org/10.1007/s40831-015-0036-2.

4. Chattopadhyay, S., & Chattopadhyay, D. (2019). Coal and other mining operations: role of sustainability. In R. A. Meyers (Ed.), Encyclopedia of Sustainability Science and Technology, (pp. 1-25). New York: Springer New York. https://doi.org/10.1007/978-1-4939-2493-6_864-4.

5. Flôres, R. G. (2019). A sustainable CSR instrument for the Brazilian mining sector. In C. Stehr, N. Dziatzko, & F. Struve (Eds.), Corporate Social Responsibility in Brazil: The Future is Now, (pp. 347-366). Cham: Springer International Publishing. https://doi.org/10.1007/978-3-319-90605-8_17.

6. Seshan, A., & Gorain, B. K. (2016). An integrated mining and metallurgical enterprise enabling continuous process optimization. In V. I. Lakshmanan, R. Roy, & V. Ramachandran (Eds.), Innovative Process Development in Metallurgical Industry: Concept to Commission, (pp. 203-242). Cham: Springer International Publishing. https://doi.org/10.1007/978-3-319-21599-0_11.

7. Rachwał, M., Wawer, M., Magiera, T., & Steinnes, E. (2017). Integration of soil magnetometry and geochemistry for assessment of human health risk from metallurgical slag dumps. Environmental Science and Pollution Research, 24(34), 26410-26423. https://doi.org/10.1007/s11356-017-0218-5.

8. Sozinova, A. A., Burtseva, T. A., Fokina, O. V., Gra­bar, A. A., & Tufyakova, E. S. (2019). The concept of industrial enterprises’ economic development amid the global financial and economic crisis. In E. G. Popkova (Ed.), The Future of the Global Financial System: Downfall or Harmony, (pp. 1085-1093). Cham: Springer International Publishing. https://doi.org/10.1007/978-3-030-00102-5_114.

9. Kaufman, B. (2018). Anthropology of metallurgical design: a survey of metallurgical traditions from hominin evolution to the industrial revolution. In B. Kaufman & C. L. Briant (Eds.), Metallurgical Design and Industry: Prehistory to the Space Age, (pp. 1-70). Cham: Springer International Publishing. https://doi.org/10.1007/978-3-319-93755-7_1.

10. Storozh, Ya., Kruzhilko, O., Maystrenko, V., & Poluka­rov, O. (2018). Information and analytical support improvement for production risk assessment. In Resources and Resource-Saving Technologies in Mineral Mining and Processing Industry: Multi-Authored: monograph, (pp. 16-37). Petrosani: Universitas Publishing.

11. Geng, Y., Liu, Z., Xue, B., Dong, H., Fujita, T., & Chiu, A. (2015). Emergy-based assessment on industrial symbiosis: a case of Shenyang economic and technological development zone. Environmental Science and Pollution Research, 21(23), 13572-13587. https://doi.org/10.1007/s11356-014-3287-8.

12. Intima, D. P. (2017). Sampling plan for quality monitoring of suppliers of the sanitation sector. Periodico Tche Quimica, 14(27), 39-43.

13. da Silva, F. J., & Gouveia, R. M. (2020). Practices on cleaner production and sustainability. In Cleaner Production: Toward a Better Future, (pp. 247-280). Cham: Springer International Publishing. https://doi.org/10.1007/978-3-030-23165-1_7.

14. Gendler, S. G., Grishina, A. M., & Samarov, L. Y. (2019). Assessment of the labour protection condition in the vertically integrated coil companies on the basis of risk-based approach to analysis of industrial injuries. In Innovation-Based Development of the Mineral Resources Sector: Challenges and Prospects – 11th conference of the Russian-German Raw Materials, (pp. 507-514). Routledge, Potsdam. Retrieved from https://www.routledge.com/Innovation-Based-Development-of-the-Mineral-Resources-Sector-Challenges/Litvinenko/p/book/9780367077266.

Visitors

3173971
Today
This Month
All days
297
13982
3173971

Guest Book

If you have questions, comments or suggestions, you can write them in our "Guest Book"

Registration data

ISSN (print) 2071-2227,
ISSN (online) 2223-2362.
Journal was registered by Ministry of Justice of Ukraine.
Registration number КВ No.17742-6592PR dated April 27, 2011.

Contacts

D.Yavornytskyi ave.,19, pavilion 3, room 24-а, Dnipro, 49005
Tel.: +38 (056) 746 32 79.
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
You are here: Home Authors and readers terms of subscription EngCat Archive 2020 Contens №3 2020 Stratification of expenses of insurance funds to cover risk situations of production process