Institutionalization of the methodology for ensuring the economic security of business

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The research is devoted to the development of a model of institutionalization of the methodology for ensuring the economic security of entrepreneurial activity. The relevance of the institutional theory is due to the need to create, disseminate and consolidate the “rules of the game” for the application of the methodology under study. A model of institutionalization of the methodology for ensuring the economic security of entrepreneurial activity is proposed, the implementation of which is accompanied by the development of a set of interrelated documents aimed at integrating the “rules of the game” on micro, meso and macro levels. The step-by-step development of documentation formalizes the “rules of the game” to ensure the economic security of entrepreneurial activity and provides an opportunity for the leaders of the subjects and officials to quickly identify and respond to deviations from the benchmark results. The developed model forms a holistic view of the process of institutionalization of methodology in the context of micro, meso and macro levels, which is based on a clear distinction between formal and informal “rules of the game”. From the standpoint of practice, the significance of the model is manifested in a clear statement of the stages and results (including draft documents) that must be obtained to achieve economic and social effect with the institutionalization of the methodology for ensuring the economic security of entrepreneurial activity.

About the authors

Vladislav O. Bessarabov

Donetsk National University of Economics and Trade named after M. Tugan-Baranovskiy

Author for correspondence.

Candidate of Economic Sciences, Associate Professor, Doctoral Student, Department of Accounting

31 Shchorsa St, Donetsk, 283050, Donetsk People’s Republic


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