Financial Risk Management: Building Financial Readiness and Resilience in Facing Crisis and Economic Change in East Java

Financial risk management is a crucial foundation for the sustainability of organizations and households, particularly in East Java, which faces regional and global economic dynamics. This study aims to examine financial risk management strategies in building financial preparedness and resilience in the face of crises and economic change. Using a literature review and local case studies, the study found that financial risk mitigation strategies in East Java should focus on diversifying revenue sources, optimizing liquidity, implementing strong internal controls, and continuous risk monitoring. The study findings indicate that organizational leaders, MSMEs, and local governments play a crucial role in strengthening a culture of risk management. The study's conclusions emphasize the importance of a holistic and collaborative approach to building financial resilience, enabling East Java to be more adaptive in facing global economic challenges.

Authors

Publication Details

Journal
Journal of Economics Finance and Management Studies
Published
2025-09-27
DOI
https://doi.org/10.47191/jefms/v8-i9-36
Primary Topic
Insurance and Financial Risk Management
Type
article
Field-Weighted Citation Impact
0.00
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article

Financial Risk Management: Building Financial Readiness and Resilience in Facing Crisis and Economic Change in East Java

Ahmad Ridwan, Sugeng Dwi Hartantyo, Aprelia Nur Kumalasari
Journal of Economics Finance and Management Studies
Insurance and Financial Risk Management
article

Financial Risk Management: Building Financial Readiness and Resilience in Facing Crisis and Economic Change in East Java

Ahmad Ridwan, Sugeng Dwi Hartantyo, Aprelia Nur Kumalasari
article en

Abstract

Financial risk management is a crucial foundation for the sustainability of organizations and households, particularly in East Java, which faces regional and global economic dynamics. This study aims to examine financial risk management strategies in building financial preparedness and resilience in the face of crises and economic change. Using a literature review and local case studies, the study found that financial risk mitigation strategies in East Java should focus on diversifying revenue sources, optimizing liquidity, implementing strong internal controls, and continuous risk monitoring. The study findings indicate that organizational leaders, MSMEs, and local governments play a crucial role in strengthening a culture of risk management. The study's conclusions emphasize the importance of a holistic and collaborative approach to building financial resilience, enabling East Java to be more adaptive in facing global economic challenges.

Journal of Economics Finance and Management StudiesVol. 08(09)
Openalex Percentile: Top 65%
Insurance and Financial Risk Management
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