Research and methodological framework for managing the economic security of financial intermediaries in Ukraine

Abstract

The effective management of economic security of financial and banking institutions at the application level is not possible without formulating the conceptual foundations of this process in the research and methodological plane. With that, the management system should take into account the specifics of financial intermediaries, which requires the development of specific research and methodological approaches. The purpose of the study is to generalize the conceptual framework for economic security management of banking and parabanking financial institutions as an integral part of ensuring the economic security of the financial market and financial security of the state. The authors propose an algorithm for managing the system of economic security of banks and other financial institutions, and identify the features, advantages and disadvantages of models for providing economic security. It is proved that managing the economic security system should consider the type of an institution, its size, the adequate personnel availability, and financial, information and material support. Consequently, effective economic security management should ensure its high level, and, therefore, partially solve the problem of regulating banking security, the financial market security, and, as a consequence, the financial security of the country.

Financial Inclusion and Tax Revenue: Evidence From Europe

“…In line with prior literature, financial inclusion is investigated using two different measures. The first is the bank account (% of age +15), which is the percentage of respondents who report having an account at a bank or another type of financial institution or report personally using a mobile money service (Sarma and Pais, 2011;Musau et al, 2018;Zachosova et al, 2018).…”

“…For example, financial inclusion is taken as primary instrument used to achieve higher economic development and to encourage innovations (Yawe and Prabhu, 2015;Demirguc-Kunt, Klapper and Singer, 2017). Further, financial inclusion can help the government to obtain additional financial resources, increase investment opportunities, and reduce budget deficit (Zachosova, Babina, and Zanora, 2018). Financial inclusion can also help governments in its strategy for poverty alleviation (Chibba, 2009).…”

Economic Security Management of Financial Institutions as Objects of the State Critical Infrastructure

“…We have already paid attention to the study of fundamental issues of ensuring the economic security of financial institutions in previous studies (Zachosova, N. & Babina, N. & Zanora, V. (2018), Zachosova, N. (2019)). The issue of ensuring the proper functional condition of critical infrastructure facilities has also become known within the scientific community.…”

Strategic Risk Management in the System of Providing Business Entities Financial and Economic Security

“…oriented and risk management, or at least two of the three mentioned areas of management of modern business structures. Thus, among Ukrainian researchers, approaches to risk management and financial and economic security are combined by Zachosova N., Herasymenko O., Shevchenko А., Babina N., Zanora V., Kovalenko А. Kutsenko D. 1 within the concretization of the theoretical foundations of financial and economic security management at the present stage of development of security science offers guidelines for strategic management of financial and economic security of enterprises, taking into account the interests, challenges and risks 2 , that accompany both the activities of the entity and directly the management process of the business structure. It should be emphasized that one of the authors of this study has already begun attempts to generalize the theoretical aspects of strategic management of the economic security system of economic entities 3 , which is an evidence of awareness and consistency in the conduct of scientific research on the stated issues.…”