DIGITAL IMPERATIVES FOR THE DEVELOPMENT  OF THE FINANCIAL MARKET OF THE NATIONAL AND WORLD VECTOR

Аbstract. Trends in the modern financial market are characterized by new challenges of the financial environment and the impact of digital transformation, which form abnormal areas of development. Defining trends, digital models, determinants and technologies of the financial market has become an urgent necessity. The object of the study is the trends in the Ukrainian financial market and global markets of financial derivatives, Forex, ОТС markets group under digital transformation. For this purpose, we have applied the methods of nonlinear dynamics, time series, technical and fundamental analysis, modeling, forecasting, market divergence, fluctuations and behaviorism. The study of the financial market has identified: the dominant trend in digital imperatives and digital technologies of the financial space; the cyclic and behavioristic development of the Ukrainian financial market; the growth in actualization of activities of Ukrainian financial institutions, which is associated with the alternative parabanking services; higher growth rates (3,3 units) of exchange transactions with precious metals, the dependence of the dynamics of currency on the impact of the global digital imperatives; the growth in OTC derivatives trades (the rate of growth of 1.1 units). Determinants of trends financial market are: financial and economic policy, digitalization of society, force majeure. The study of forecast patterns of changes in trends has enabled to determine the economic and mathematical model for calculating the index of forecasting the price of a digital financial asset and income from a transaction with cryptocurrency. A close correlation-regressive relationship (linear R2 = 0.6361, exponential R2 = 0.6948, power R2 = 0.7142) of the cryptocurrency exchange rate from the trading interest is determined (the elasticity coefficient is 2.7 units). Keywords: financial indicators, determinants, financial assets, derivatives, patterns, digital financial technologies, forecasting, Forex, OTC. JEL Classification G12, G13, G17 Formulas: 3; fig.: 7; tabl.: 3; bibl.: 16.

Download Full-text

Ensuring Sustainable Development of the National Financial Market Based on Digital Financial Services

SHS Web of Conferences ◽

10.1051/shsconf/20219302029 ◽

2021 ◽

Vol 93 ◽

pp. 02029

Author(s):

Mikhail Loginov ◽

Natalia Usova ◽

Aigerim Baigotanova

Keyword(s):

Sustainable Development ◽

Financial Market ◽

National Economy ◽

Financial Services ◽

Current Situation ◽

Digital Transformation ◽

Financial Assets ◽

Medium Term ◽

Mechanism Of Interaction ◽

Theoretical Foundations

The article is devoted to the development of the national financial market and ensuring its stability on the basis of digital transformation. Subject of research: digitalization of the financial market. The aim of the study is to study the theoretical foundations of the financial market and determine the priorities of its development based on the digitalization of services to ensure sustainable development in the medium term. Method of research. in the process of writing, the authors used such methods as analysis, grouping, comparison, and synthesis. Results: 1. The features of digitalization of services provided in the national financial market are disclosed. 2. The mechanism of interaction of the main participants in the digital financial assets market is presented and their characteristics are given. 3. Measures for digital transformation of the national financial services market are proposed, taking into account the current situation in the national economy. Scientific novelty: the mechanism of interaction of the main participants in the digital financial services market was determined, measures for the digital transformation of the financial services market were proposed.

Download Full-text

Development of methodology for evaluation of innovative IT-projects

E3S Web of Conferences ◽

10.1051/e3sconf/201911002092 ◽

2019 ◽

Vol 110 ◽

pp. 02092

Author(s):

Lisienkova Tatiana ◽

Liubov Lisienkova ◽

Ekaterina Baranova ◽

Lyudmila Nosova ◽

Inna Tursukova

Keyword(s):

Comprehensive Analysis ◽

Business Development ◽

Digital Transformation ◽

Innovation Strategy ◽

Financial Indicators ◽

It Projects ◽

Urgent Task ◽

Methodological Approaches ◽

The Impact ◽

Selection And Ranking

Innovative business development based on a digital transformation is the urgent task for companies. It is able to ensure the implementation of innovation strategy and digital transformation of business. Due to the high development speed and the IT-market updating, the problem is lack of methods of rational choice of the IT-project. In practice, companies often implement IT-projects without reasonable selection and ranking, which leads to a high proportion of failed innovative IT-projects. As a result, the company does not receive a commercially successful product or service that stands out to the consumer among competitors. The evaluation of innovative IT-projects is based on the financial indicators analysis of the expected results from the implementation. The evaluation of the strategic coherence of the project is ignored. The research approaches the methodical of ranking innovative IT-projects in companies. The method consists in a comprehensive analysis of the impact of the proposed project results in various aspects of the company (strategic, environmental, organizational and technological). The study highlights the features of innovative projects in the field of information technology, a comparative analysis of methodological approaches to the evaluation of innovative projects, modified the model of acceptance of IT-innovations.

Download Full-text

IMPACT OF INFORMATION TECHNOLOGY AND DIGITALIZATION ON BANKING STRATEGY PRE-COVID-19, CHALLENGES IN THE COVID ERA AND POST-COVID STAKES

International Journal of Accounting & Finance Review ◽

10.46281/ijafr.v6i2.1068 ◽

2021 ◽

Vol 6 (2) ◽

pp. 60-73

Author(s):

Syrine Ben Romdhane

Keyword(s):

Information Technology ◽

Financial Services ◽

Banking Sector ◽

Banking Industry ◽

Jel Classification ◽

Digital Transformation ◽

Strategic Plans ◽

Banking Strategy ◽

The One ◽

The Impact

The spread of information technology and the digitalization of financial services raise a range of theoretical questions as the structures of the banking industry undergo change. This change has intensified with the impact of the COVID-19 pandemic which is already being observed. The purpose of this study is therefore threefold: (1) to analyze the impact of IT and the digitalization of financial services on the strategy and functioning of the pre-COVID-19 banking sector; (2) to study the challenges banks are facing in the COVID era in managing the crisis, and (3) to highlight post-COVID stakes. This study shows, on the one hand, that the crisis confirms the need for banks to combine physical proximity and digital offer, and on the other hand, that digitalization could be the solution for banks to consistently mitigate risks. Through this digital transformation and their ability to re-invent themselves, the banks would guard against potential similar crises. By adopting a more digitized and open behavior, they would be immune to such crises because they would have appropriate strategic plans, as they would be better equipped to counter the threats and better prepared to transform them into opportunities. JEL Classification Codes: B26, B41, G21, G32, O32.

Download Full-text

CRYPTOCURRENCY MARKET TRENDS AND FUNDAMENTAL ECONOMIC INDICATORS: CORRELATION AND REGRESSION ANALYSIS

Financial and credit activity problems of theory and practice ◽

10.18371/fcaptp.v3i38.237454 ◽

2021 ◽

Vol 3 (38) ◽

pp. 249-261

Author(s):

O. Baranovskyi ◽

M. Kuzheliev ◽

D. Zherlitsyn ◽

K. Serdyukov

Keyword(s):

Correlation Analysis ◽

Financial Markets ◽

Financial Market ◽

Regression Models ◽

Economic Indicators ◽

Financial Assets ◽

The World ◽

Dollar Price ◽

Market Trends ◽

The Impact

Abstract. The first cryptocurrency was born in 2008. Already today, virtual financial assets and tokens are a significant part of trading in global financial markets. The cryptocurrency market capitalization currently exceeds 600 billion U.S. dollars. However, there is a lot of discussion about cryptocurrency functions and the correlation between Bitcoin prices and the basic economic indices. Therefore, the purpose of the paper is to define the statistical substantiation of the influence of fundamental economic indicators on the market of virtual financial assets and the possibility of using cryptocurrency as the investment assets. This article is based on the theoretical principles and methods of econometric analysis; the system approach methods to define the main vehicles and trends of the international financial market. The study presents correlation analysis, regression models with paired and multiple variables. For these models, R-Studio instruments are the main tools of quality estimation and results interpretation. The article shows the results of the correlation analysis of Bitcoin’s U.S. dollar price dynamics and changes in the main stock, monetary market indicators, cryptocurrencies market tendency, levels of the United States fundamental economic indicators for the period from 2014 to 2021. Traditional multifactorial regression models are used to determine the level and the impact of individual indicators of the world stock market at the U.S. dollar price of Bitcoin. A comparison of the level of volatility of key investment financial assets in the market of cryptocurrencies and stock markets is carried out. The authors determine the level of correlation dependence and make a regression model of the impact of fundamental economic indicators and stock market trends on the dynamics of U.S. dollar prices for key cryptocurrencies. The article presents conclusions on trends and problems of using cryptocurrencies as an investment asset, considering volatility and profitability. Implementation of the results allows to clarify the economic essence of cryptocurrencies as a specific financial vehicle, as well as improving the existing models of investment management, considering the statistical characteristics of the virtual financial assets. The main direction of further research is to build models of medium-term prediction of prices for the main cryptocurrencies as an investment asset in conditions of changes in global financial markets, which must consider the fundamental economic indicators of the world economy and trends on key stock and commodity markets. Keywords: virtual financial asset, cryptocurrency, bitcoin, econometric model, financial market, economic indicator, investment asset. JEL Classification D53, E44, G15, C58 Formulas: 3; fig.: 3; tabl.: 3; bibl.: 31.

Download Full-text

PROSPECTS OF THE RUSSIAN BANKING SYSTEM IN THE CONDITIONS OF DEVELOPMENT OF THE EURASIAN INTEGRATION

AZIMUTH OF SCIENTIFIC RESEARCH: ECONOMICS AND ADMINISTRATION ◽

10.26140/anie-2021-1001-0093 ◽

2021 ◽

Vol 10 (34) ◽

Author(s):

T.E CHEKANOVA ◽

Keyword(s):

Financial Market ◽

Banking Sector ◽

Banking System ◽

Competitive Advantages ◽

Financial Indicators ◽

Integration Policy ◽

Banking Services ◽

The Impact ◽

The Relationship ◽

Positive Effect

Purpose: is to study the impact of the EAEU integration on the Russian banking system and identify the benefits for its development due to integration processes. Results: the financial indicators of banking sectors of the EAEU countries are examined and their comparative analysis is performed. This showed the possibilities for the development of the Russian banking system in the domestic market and in the territory of the Union States. The regulatory documents of the EAEU have been studied. The expected positive effect for the Russian banking sector from the implementation of the EAEU common financial market project was noted. Various issues of introducing a single currency as a means of payment for the calculation of the EAEU countries are investigated. The current structure of payments of the Union States in national and world reserve currencies is considered. This allowed us to identify Russia's interests in creating a currency union and identify the constraints of this process. The presence of Russian banks outside the country and their position in the international arena are considered. A list of the main obstacles to their expansion abroad is formulated. The article reveals the relationship between the development of integration processes in the EAEU and the opportunities to increase the competitiveness of the Russian banking system in the global financial market. Conclusions: the Banking system of Russia today has a great potential for development on a national scale, in the market of banking services of the Eurasian Union and at the global level. The integration policy of the EAEU in the banking sector contributes to increasing the competitive advantages of the Russian banking system. The implementation of the agreed strategic plan to create a common financial market for the EAEU will accelerate the process of qualitative development of the Russian banking system.

Download Full-text

Boosting technological innovation and innovation culture from an idea generation program: the experience of a Brazilian bank

International Journal of Innovation ◽

10.5585/iji.v9i3.19282 ◽

2021 ◽

Vol 9 (3) ◽

pp. 474-495

Author(s):

Lucas Makoto Conchon Ida ◽

Cleonir Tumelero

Keyword(s):

Technological Innovation ◽

Financial Market ◽

Idea Generation ◽

Digital Transformation ◽

Financial Resources ◽

Technological Innovations ◽

Innovation Culture ◽

The Impact ◽

Implementation Stage

Objective of the study: The objectives of this study were to describe the strategy and the innovation results from an idea generation program (IGP) of a Brazilian bank.Methodology: The study is predominantly descriptive; the method is the in-depth case study, and the data analysis was performed through content analysis.Originality/Relevance: The IGP's implementation stage is critical due to the need for financial resources, people, and time. An IGP can generate not only incremental technological innovations but also boost the innovation culture. Innovations developed from an IGP can be effective in facing competition from fintechs and digital transformation.Main results: The IGP's strategy is well-founded, as the result of 14 years of experience. However, there is still no clear strategy for measuring the impact of the implemented innovations. The IGP boosted both incremental technological (product, services, and process) and innovation culture. It has generated financial and non-financial results, and it predominantly follows the eastern model, recognizing employees’ ideas with non-financial rewards.Theoretical/methodological contributions: An IGP is designable in three main stages: ideation, in which all employees can participate, giving ideas for solving the problems indicated by the boards; selection, when a selection board chooses the ideas with the most significant potential for implementation and generating results; and implementation, when the selected ideas are transformed into innovations.Social /management contributions: A bank’s idea generation program is effective to boost technological innovation and innovation culture, which allow to face the fintechs and other essential players in the financial market, as well as to promote internal engagement and manage digital transformation, and deal with the VUCA (volatility, uncertainty, complexity, and ambiguity) scenario.

Download Full-text

Retrospective analysis of the resilience of Russian regions as socio-economic systems

Voprosy Ekonomiki ◽

10.32609/0042-8736-2019-5-46-64 ◽

2019 ◽

pp. 46-64 ◽

Cited By ~ 4

Author(s):

Vladimir V. Klimanov ◽

Sofiya М. Kazakova ◽

Anna A. Mikhaylova

Keyword(s):

Panel Data ◽

Economic Systems ◽

Financial Indicators ◽

Russian Regions ◽

Integral Index ◽

Negative Effects ◽

Economic Resilience ◽

Correlation Dependence ◽

The Impact ◽

The Relationship

The article examines the impact of various socio-economic and financial indicators on the resilience of Russian regions. For each region, the integral index of resilience is calculated, and its correlation dependence with the selected indicators is revealed. The study confirms the relationship between fiscal resilience and socio-economic resilience of the regions. The analysis of panel data for 75 regions from 2007 to 2016 shows that there are significant differences in the dynamics of indicators in different periods. In particular, the degree of exposure to the negative effects of the crises of 2008—2009 and 2014—2015 in non-resilient regions is higher than in resilient ones.

Download Full-text

FORMATION OF HUMAN CAPITAL IN THE DIGITAL TRANSFORMATION PARADIGM

EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA ◽

10.36871/ek.up.p.r.2020.05.02.016 ◽

2020 ◽

Vol 2 (5) ◽

pp. 115-119

Author(s):

M. V. SAVINA ◽

◽

A. A. STEPANOV ◽

I.A. STEPANOV ◽

◽

...

Keyword(s):

Human Capital ◽

Digital Age ◽

Digital Transformation ◽

Educational Process ◽

Knowledge And Skills ◽

Main Components ◽

The Impact ◽

Modern Era

The article highlights the problems of the impact of "digitalization" of society on the formation and transformation of human capital, and above all, the development of new competencies, knowledge and skills. The main components of human capital in the modern era, the features of the formal and informal educational process are clarified and disclosed. The necessity of minimizing the precariat class is proved. The main directions of qualitative improvement of human capital adequate to the challenges of the digital age and globalization are defined.

Download Full-text