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  • 标题:DIAGNOSTICS BY FINANCIAL REGULATORS OF FINANCIAL INSTITUTIONS PREPAREDNESS TO THE IMPLEMENTATION OF ECONOMIC SECURITY MANAGEMENT
  • 本地全文:下载
  • 作者:Nataliia Zachosova ; Nataliia Babina
  • 期刊名称:Baltic Journal of Economic Studies
  • 印刷版ISSN:2256-0742
  • 电子版ISSN:2256-0963
  • 出版年度:2018
  • 卷号:4
  • 期号:4
  • 页码:106-115
  • DOI:10.30525/2256-0742/2018-4-4-106-115
  • 语种:English
  • 出版社:Izdevnieciba “Baltija Publishing”
  • 摘要:In the conditions of the financial system destabilization in Ukraine, caused by such negative phenomena as military actions in the East, the economic downturn, political and financial crises, population disappointment in the institution of power and loss of the people’s confidence in power structures and so on, market mechanisms are not able to ensure the restoration of the national financial market and to encourage its professional participants to use mechanisms of protection their own assets and the assets of their clients from external and internal threats actively. State interference in the functioning of financial institutions is necessary, especially for those of their types, whose bankruptcy may have fatal consequences for the welfare of the population and cause the liquidation of economic entities of the domestic economy. Among them are: banks, insurance companies, credit unions, and other institutions of credit co-operation, investment companies, in particular, joint investment institutions (unit and corporate investment funds), non-state pension funds, leasing, factoring, and other financial companies, pawns, etc. Therefore, it is expedient to consider the possibility of the influence of state regulators in financial services markets on the state of their participants’ economic security. However, the study of the realities of the financial market of Ukraine development has made it possible to assert that for a number of financial institutions, the concept of economic security is something abstract, and the understanding by their top management the importance of economic security management, taking into account the negative market trends, is completely absent. So, the purpose of this study is to diagnose the level of financial institutions preparedness for the implementation of economic security management into their common system of management. The high level of financial market participants’ readiness for safe-oriented management will allow regulators to rapidly implement in their practice a list of recommendations that will minimize the threat of bankruptcy and liquidation of domestic financial institutions. Methodology. In the process of preparing a scientific article, a great number of literary sources was considered. Some of them were developed using the method of theoretical generalization and the monographic method. The theoretical results presented in the research materials were obtained on the basis of the study of works of such scientists as Amadae S. M., Baily M. N., Elliott D. J., Ismail Z., Johnson K. N., Mirtchev A., Nelson J. A., Raczkowski K., Schneider F., Sidek Z. M., Ula M., Whalen C. J., Wierzbicka E., Yong J. To confirm the reliability of the scientific results presented in the article, the authors used the Delphi method and expert evaluation. The list of indicators for assessing the level of financial institutions readiness for the implementation of a mechanism for managing economic security in the following five areas is formed. These areas are: the availability and condition of the economic security system, the state of information and analytical support for the adoption of management decisions in the field of economic security, the state of intellectual and personnel management provision of economic security, reserves of financial support of economic security, the level of external influence on the state of economic security (state regulation and supervision). In May 2018, representatives of the top management of various types of financial institutions, scientists, researchers, and analysts who were interested in the issues of economic security management of the financial sector were interviewed. Their answers were analysed and the level of readiness for managing the economic security of the most common types of financial institutions in the financial market of Ukraine was determined. Using the graphical method, the obtained scientific results are presented in a convenient and understandable form for the perception of all interested persons. Results of the survey. The necessity of carrying out diagnostics of the readiness to manage economic security at the level of state regulatory bodies and at the level of top management of financial institutions in the near future is substantiated. A large-scale analytical work was carried out on determining the parameters of financial institutions readiness for the continuous and professional economic security management, which should be carried out with the use of a systematic approach. Based on expert opinions, a preliminary assessment of the various types of financial intermediaries’ readiness to integrate security-oriented management into the financial institutions’ common management system was made. Practical implications. The proposed methodological approach for assessing the level of financial institutions readiness to manage their own economic security should be used by the state regulators of the financial market, in particular, by the National Bank of Ukraine and the National Commission, which performs state regulation in the field of financial services markets, to monitor the activities of professional financial market participants in order to conduct advisory and consultative work with their owners and managers, as well as for the development of strategic guidelines for the provision of the state financial security. It is desirable to implement into the practical activities of financial intermediaries our proposals for increasing the readiness for implementation of the economic security management mechanism in the existing systems of management. Value/originality. For the first time, a scoring methodology was prepared for assessing the level of financial institutions readiness for the implementation of economic security management as an independent direction of management, and not as one of the tasks of other types of their management activity. At the theoretical level, the substantive interpretation of the notion of the readiness of financial institutions to manage their own economic security is proposed. The reasons for the impossibility of the modern financial institutions to manage their own economic security effectively are identified, and a few suggestions to minimize their number in the near future were made.
  • 关键词:management;economic security;financial institutions;regulation;financial market;economic security management
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