How To Measure Changes In The Risk States - Concept Of Definition

Abstract

Hypothesis, that variability in conditioning of long-term liabilities realization influences changes in risk states of the liabilities’ service is verified in the paper. Consequently, a risk is treated as a random vector whose elements are controlled variables, representing the results of financial decisions. Statistical measures, such as probability of taking certain values from the controlled variables’ variability intervals, expectation, variance and covariance of the vector’s elements were applied to describe the risk states. The dynamics of risk states changes during the period of long-term liabilities repayment was described by the changes of risk measures relatively to a benchmark risk vector. Statistical properties of the latter were estimated on the basis of controlled variables values adopted for the enterprise’s development plans.