Theoretical Foundations of Price Risk Management of Enterprises under Market Uncertainty

Subject of study. The essence and classification of price risks faced by enterprises, as well as modern instruments for managing them in the context of market uncertainty and increasing economic globalization with unstable market prices. The aim of the study. To systematize theoretical approaches to defining price risks, determine their place in the general risk classification system, and analyze tools and strategies for price risk management to ensure economic efficiency of enterprises in modern market conditions. Research methods. The methodological basis of the study is a systematic approach to analyzing theoretical risk concepts, which revealed its essential characteristics as a category accompanying entrepreneurial activity associated with uncertainty and potential deviation of actual results from planned ones. The study analyzes research by domestic and foreign scholars, particularly works by M.O. Solodkyi, N.P. Reznik, V.O. Yavorska, Yu.V. Ruban, Paul Hopkin, J. Rocha, G. Poitras, S. Oliveira, J. Hull, and C. Capinha, who formed a significant theoretical and methodological basis in the field of market and, specifically, price risk management. Results of work. The paper determines the place of price risks in the overall structure of market risks and offers a detailed overview of modern risk management strategies using the 4Ts methodology (Tolerate, Treat, Transfer, Terminate). Methods of acceptance, reduction, transfer, and avoidance of price risks are characterized. The study emphasizes the necessity of a comprehensive approach to price risk management, which allows enterprises to effectively adapt to changes in the market environment, avoid significant financial losses, maintain competitiveness, and ensure stability of economic performance. It is highlighted that successful price risk management is one of the key conditions for ensuring long-term economic development of enterprises in conditions of constant market changes. The research systematizes theoretical approaches to defining price risks and analyzes effective instruments that can be implemented by enterprises to mitigate negative impacts of market price volatility while maintaining operational efficiency and strategic development opportunities.