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Modeling of Social Risks in the Labor Sphere

Author

Listed:
  • Olha Shulha

    (Department of Management and Marketing, State University of Intelligent Technologies and Telecommunications, Solomyanska Str., 7, 03110 Kyiv, Ukraine)

  • Tatiana Kostyshyna

    (Department of Personnel Management, Labor Economics and Economic Theory, Poltava University of Economics and Trade, Koval Str., 3, 36014 Poltava, Ukraine)

  • Maryna Semykina

    (Department of Economics and Entrepreneurship, Central Ukrainian National Technical University, University Avenue, 8, 25006 Kropyvnytskyi, Ukraine)

  • Liudmyla Katan

    (Department of Finance, Banking and Insurance, Dnipro State Agrarian and Economic University 25, Voroshylova Str., 49027 Dnipro, Ukraine)

  • Hanna Smirnova

    (Faculty of Dentistry and Pharmacy, International Humanitarian University, St. Fontanska Doroga, 33, 65009 Odessa, Ukraine)

Abstract

Modern society has developed in such a way that social reality is characterized by the significant dynamics of all processes and their uncertainty. Under such conditions, risk accompanies any purposeful activity of the social subject, and, in turn, the latter is aimed at reducing the uncertainty of its results. The purpose of this paper is to form the basis of a comprehensive study of social risks in the labor sphere and to develop practical recommendations for minimizing their negative consequences. In order to determine the main factors influencing the probability for the unemployed not to work in the specialty in which they have trained, we used the data of a micro-level survey on economic activity of the population to build linear regression models based on structural variables. As a result of applying the method of economic-mathematical modeling, in particular the basics of probability theory, the models of social risks of unemployment in terms of occupational groups and employment of unemployed persons outside of the specialty they have trained in were developed. The models developed made it possible to formalize and identify patterns of supply and demand dynamics of labor in terms of professions, as well as to identify the main factors influencing the change in the probabilistic characteristics of employment of unemployed persons outside of the specialty they have trained in.

Suggested Citation

  • Olha Shulha & Tatiana Kostyshyna & Maryna Semykina & Liudmyla Katan & Hanna Smirnova, 2021. "Modeling of Social Risks in the Labor Sphere," JRFM, MDPI, vol. 14(10), pages 1-12, October.
    • Handle: RePEc:gam:jjrfmx:v:14:y:2021:i:10:p:488-:d:656367
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    References listed on IDEAS

    as
    1. Chia-Lin Chang & Michael McAleer & Wing-Keung Wong, 2018. "Management Information, Decision Sciences, and Financial Economics: A Connection," Tinbergen Institute Discussion Papers 18-004/III, Tinbergen Institute.
    2. Rui Albuquerque & Yrjö Koskinen & Chendi Zhang, 2019. "Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence," Management Science, INFORMS, vol. 65(10), pages 4451-4469, October.
    3. Mikkel Gabriel Christoffersen, 2018. "Risk, danger, and trust: refining the relational theory of risk," Journal of Risk Research, Taylor & Francis Journals, vol. 21(10), pages 1233-1247, October.
    4. Devos, Erik & Rahman, Shofiqur, 2018. "Labor unemployment insurance and firm cash holdings," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 15-31.
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