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Financial Risk Management for Sustainable Agricultural Development Based on Corporate Social Responsibility in the Interests of Food Security

Author

Listed:
  • Andrey A. Polukhin

    (Federal Scientific Center of Legumes and Groat Crops, Federal State Budgetary Scientific Institution, 10/1, Molodezhnaya St., Streletsky, 302502 Oryol, Orel Region, Russia)

  • Veronika I. Panarina

    (Federal Scientific Center of Legumes and Groat Crops, Federal State Budgetary Scientific Institution, 10/1, Molodezhnaya St., Streletsky, 302502 Oryol, Orel Region, Russia)

Abstract

This paper focuses on the problem of the high financial risks of agricultural entrepreneurship, which hinder the sustainable development of agriculture and do not provide food security. This problem is especially topical in the conditions of the COVID-19 crisis when financial risks are urgent. The research basis is the theory of financial risks of entrepreneurship. This paper’s RQ is as follows: how should financial risks for the sustainable development of agriculture be managed for the provision of food security? The purpose of this paper is to find ways of managing the financial risks of agricultural entrepreneurship based on its corporate social responsibility for sustainable development and the provision of food security. The contribution to the literature is that the authors offer a solution to the problem of the financial risks of agricultural entrepreneurship. The originality of this paper is that the solution is corporate social responsibility. The universal character of the paper is due to the description of the international experience of corporate social responsibility and proving the contribution of this responsibility for the sustainable development of agriculture and food security as well as its demonstration—based on the case experience of modern Russia of specific, effective, and perspective practices of corporate social responsibility that make a significant contribution to the sustainable development of agriculture and food security. The results are very important for decision making in managing the financial risks of agricultural entrepreneurship.

Suggested Citation

  • Andrey A. Polukhin & Veronika I. Panarina, 2022. "Financial Risk Management for Sustainable Agricultural Development Based on Corporate Social Responsibility in the Interests of Food Security," Risks, MDPI, vol. 10(1), pages 1-15, January.
    • Handle: RePEc:gam:jrisks:v:10:y:2022:i:1:p:17-:d:721549
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    References listed on IDEAS

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    1. Hajdu, Anna & Gagalyuk, Taras & Bukin, Eduard & Petrick, Martin, 2021. "Determinants of corporate social responsibility among farms in Russia and Kazakhstan: a multilevel approach using survey data," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 24(4), May.
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