No Paper Title Author Name Page No

MERICAN Journal of Public Diplomacy and International Studies
www.
 grnjournal.us 
 
the content of these concepts is not exactly defined and varies from author to author. For example, 
according to the classification proposed by some researchers [22], financial risks include the 
following risks: commercial, investment, innovative, banking, currency. 
Commercial financial risks include: 

risks of non-fulfillment by counterparties of obligations to pay for 
goods/works/services; 

risks of financial losses due to market reasons; 

risks of unforeseen legal expenses; 

risks of loss of investments in non-own objects of investment and decrease in 
profitability on them; inflationary risks (depreciation of cash income); 

risks of unforeseen costs due to insurmountable reasons (natural disasters, epidemics, 
loss of funds in bank accounts, illegal actions of third parties); 

risks of financial losses in connection with the execution of surety agreements; 

leasing risks, risks of financial losses due to non-fulfillment by the state of 
obligations under securities and contracts. 
Investment risks include: 

credit risks, i.e., risks associated with default on the loan by the borrower; 

risks of lost profits, i.е. risks of shortfall in income compared to income received 
from approved objects (purchase of stable securities, real estate, bank deposits); 

portfolio risks, which consist in possible losses of income depending on the structure 
of investments (ie the ratio of real and portfolio investments); 

risks of reducing the return on investment; 

risks of partial or complete loss of the entrepreneur's investments. 
Despite the fact that this classification indicates only the negative component of investment 
risks, these risks (with the exception of credit risks) should be considered speculative. 
After analyzing and summarizing the risks listed above, attributable to the groups of 
commercial, entrepreneurial and financial, one cannot but agree that the concept of 
"entrepreneurial risks" is broader and includes a group of financial risks [23]. 
Financial risks are the risks of events that directly affect the turnover of funds of an economic 
entity, and entrepreneurial risks also include events that directly affect the process of production 
of goods (works, services), tangible property and intellectual rights of an economic entity, etc. 
Composition of entrepreneurial risks largely depends on the type of activity of the economic entity, 
i.e. from industry specifics. 
Commercial and trading risks include: 
-
risks of returning products due to the supply of poor-quality or otherwise unsatisfactory 
goods to the buyer; 
-
transport risks associated with damage to goods during the journey; 
-
risks of fraud on the part of the buyer (borrower), which can mislead the supplier 
(creditor) in order to purchase goods with a deferred payment (take a loan), and then hide 
without paying for it (without repaying the loan). 
To form a multi-tasking classification of risks, it is advisable to consider these five types of 
risks from the perspective of risk owners, risk managers, as well as internal and external factors 
that affect the likelihood and consequences of risk events. The risk owner is understood as a person 
or a management body that, by virtue of its authority and official duties, can and must manage this 
risk. 
In an organization, the following main groups of risk owners can be distinguished: owners, 

---

92
A