Economic and Legal Aspects of Foreign Economic Risks Within the Framework of Sustainable Development of Russian Enterprises

Abstract

Objective: The purpose of the study is to provide substantiation for methodological approaches to the assessment of foreign economic risks including the study of the essence and sphere of manifestation of foreign economic risks, as well as their influence on the enterprise’s competitiveness in the context of sustainable development.   Methods: To assess the impact of the risks of foreign economic activity, a methodical approach to the assessment of risks at enterprises is developed. The base of the study is composed of 10 selected enterprises in the Moscow region, Russia engaged in foreign trade activities and the production of high-tech products.   Results: Assessment of the riskiness of foreign economic activity and the degree of risk manifestation in the process of foreign trade activities allows enterprises to regulate their activities to ensure their security and promote greater competitiveness.   Conclusion: The conducted analysis demonstrates that foreign economic risks considerably affect foreign economic activity. The ranking of enterprises according to the degree of manifestation of risks confirms that the competitiveness of enterprises is sensitive to foreign economic risks.