The analysis of financial companies activities as the elements of Ukraine financial and credit market infrastructure

  • Oleksii Kalivoshko National Scientific Center ‘Institute of Agrarian Economics’
Keywords: financial companies, the activities of financial companies, assets and capital of financial companies, types of services of financial companies, factoring, sources of financing of factoring transactions

Abstract

Relevance of research topic. One of the most enigmatic and at the same time systemically important and system-building institutions of the infrastructure of the financial and credit market of Ukraine are financial companies. Formulation of the problem. Diverse issues related to the functioning of financial companies are not paid much attention by domestic scientists and officials, especially in comparison with other financial intermediaries, as well as their role and significance for the national economy. Analysis of recent research and publications. Despite the large number of publications on financial companies, most of them do not apply to the domestic financial market. Selection of unexplored parts of the general problem. Carrying out a review of the scientific national periodical press about the activities of financial companies in the infrastructure of the financial and credit market of Ukraine, we concluded that there is a lack of attention to the functioning of domestic financial companies, therefore, in the study, we will try to fill this gap at least slightly. Setting the task, the purpose of the study. Conduct an analysis and disclose the activities of financial companies as elements of the infrastructure of the financial and credit market of Ukraine. Method or methodology for conducting research. Became a systematic approach and formal logic. In order to achieve this goal, information materials, analytical and statistical data related to the activities of financial companies, scientific works of scientists were worked out. Methods of induction and deduction, generalization and comparison were used. Presentation of the main material (results of work). The analysis of the activity of financial companies as elements of the infrastructure of the financial and credit market of Ukraine. Dynamics of changes in the number of financial companies is evaluated. Dynamics of changes in volumes of their capital assets volumes by types of financial services in monetary and interest terms are analyzed. The dynamics of changes in the value and number of factoring contracts and the dynamics of the change in the distribution of factoring transactions by industry in the monetary and interest terms are also characterized. The field of application of results. The results of the research can be used to the accelerate further scientific consideration of topical issues related to the functioning of financial companies and will serve as the basis for state and legislative initiatives to increase the economic interest of business entities to revitalize financial companies. Conclusions according to the article. Financial companies are system elements of the infrastructure of the financial and credit market. In order for them to become system-based and give impetus to the effective development of the entire financial system, they need adequate regulatory and information support, on the one hand to popularize their services, and on the other hand to improve the quality of control and increase transparency of activities.

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References

1. Pro zatverdzhennia Polozhennia pro Derzhavnyi reiestr finansovykh ustanov : Rozporiadzhennia Derzhavnoi komisii z rehuliuvannia rynkiv finansovykh posluh Ukrainy vid 28.08.2003 №41. [On Approval of the Regulation on the State Register of Financial Institutions: Order of the State Commission for Regulation of Financial Services Markets of Ukraine dated August 28, 2003 No. 41]. URL: https://zakon.rada.gov.ua/laws/show/2121-14 ((n Ukr.).

2. Pro zatverdzhennia Poriadku nadannia zvitnosti finansovymy kompaniiamy, finansovymy ustanovamy - yurydychnymy osobamy publichnoho prava, dovirchymy tovarystvamy, a takozh yurydychnymy osobamy - subiektamy hospodariuvannia, yaki za svoim pravovym statusom ne ye finansovymy ustanovamy, ale maiut vyznachenu zakonamy ta normatyvno-pravovymy aktamy Derzhfinposluh abo Natskomfinposluh mozhlyvist nadavaty posluhy z finansovoho lizynhu : Rozporiadzhennia Natsionalnoi komisii, shcho zdiisniuie derzhavne rehuliuvannia u sferi rynkiv finansovykh posluh vid 26.09.2017 № 3840. [On approval of the Procedure for reporting by financial companies, financial institutions - legal entities of public law, trust companies, as well as legal entities - economic entities, which, by their legal status, are not financial institutions, but are determined by laws and regulations Financial Services Commission or the National Financial Services Commission to provide financial leasing services: Order of the National Commission, which carries out state regulation in the field of financial services markets as of September 26, 2017, No. 3840]. URL: https://zakon.rada.gov.ua/laws/show/z1294-17 (In Ukr.).

3. Informatsiia pro stan i rozvytok finansovykh kompanii ta lizynhodavtsiv. Natskomfinposluh [Information on the status and development of financial companies and lessors. National Financial Services Commission]. URL: https://www.nfp.gov.ua/ua/Informatsiia-pro-stan-i-rozvytok-finansovykh-kompanii-lizynhodavtsiv-ta-lombardiv-Ukrainy.html (In Ukr.).

Author Biography

Oleksii Kalivoshko, National Scientific Center ‘Institute of Agrarian Economics’

Ph.D. in Economics, Associate professor, Senior Researcher department of financial-credit and fiscal policy

Published
2019-03-30
How to Cite
Kalivoshko, O. (2019). The analysis of financial companies activities as the elements of Ukraine financial and credit market infrastructure. University Economic Bulletin, (41), 179-188. https://doi.org/10.31470/2306-546X-2019-41-179-188
Section
Finance, Monetary Circulation and Credit