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Strategic Navigation of Firm-Specific Risks: A Comprehensive Analysis of Corporate Finance Challenges and Solutions
- 1 Queensland University, Brisbane, Australia
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Abstract
This paper delves into the multifaceted nature of firm-specific risks (FSRs) within corporate finance, highlighting operational, financial, and strategic risks as pivotal challenges confronting companies across industries. Through detailed examinations of scenarios ranging from regulatory hurdles in the pharmaceutical industry to cyber threats in retail and currency fluctuations impacting multinational corporations, this study elucidates the intricate web of internal and external factors contributing to FSR. Furthermore, it explores the critical role of corporate governance, emphasizing board structure, transparency in financial reporting, and robust internal controls in effectively managing these risks. By integrating advanced data analytics and risk modeling with comprehensive risk management frameworks, the paper showcases strategies for identifying, assessing, and mitigating FSRs, thereby enhancing corporate resilience and strategic agility. This analysis not only contributes to the academic discourse on risk management but also offers practical insights for practitioners aiming to fortify their organizations against the unpredictability of the business landscape.
Keywords
Firm-Specific Risks, Corporate Finance, Risk Management, Corporate Governance, Operational Risks
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Cite this article
Liu,W. (2024). Strategic Navigation of Firm-Specific Risks: A Comprehensive Analysis of Corporate Finance Challenges and Solutions. Advances in Economics, Management and Political Sciences,119,52-57.
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Volume title: Proceedings of the 8th International Conference on Economic Management and Green Development
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