System Of Financial Institutions Research Articles

THE INFLUENCE OF FINANCIAL LITERACY, FINANCIAL ATTITUDE, AND DEMOGRAPHIC FACTORS ON INVESTMENT DECISIONS (CASE STUDY: FEMALE EMPLOYEES OF IIK STRADA INDONESIA KEDIRI)

Mastering fundamental financial proficiency and expertise in finance in managing financial resources can enhance each individual's welfare so that they can grasp national concerns in the financial sector. This is because such knowledge and skills are necessary to manage financial resources. A person's capacity to use the financial institution system might be hindered by their lack of financial literacy, which can also harm prosperity. This study aimed to investigate the considerable influence that financial literacy and financial attitudes are of paramount importance in personal finance., and demographic characteristics have on how individuals make decisions regarding financial investments. In this study, a descriptive technique was taken in conjunction with a quantitative one. A total of 67 participants were sampled from the population for this study. In order to collect data for this study, the researchers utilized a questionnaire. The research utilized a method known as multiple regression analysis for the test. The study's findings explain concurrently why financial literacy, financial attitudes, and demographic characteristics play a substantial role in investment decision-making. It is thought to be influential because the level of financial literacy, financial Attitude, and demographic characteristics all contribute to the behaviour of investment decision-making, and the better they are, the more influential it is thought to be. According to the findings of this research, employers and investors should be able to meet their expectations about their knowledge of how to comprehend financial literacy properly. Keywords: demography, investment, finance, decision, literacy, Attitude

Exploration of Marketing Strategies of Rural Financial Institutions in the Context of Internet Finance--Bank A as an Example

As an essential component of China's financial institution system, the development and operation of rural financial institutions are of great significance to the economic development of capital financing, the improvement of the "Issues concerning agriculture, rural areas, and farmers," and the promotion of financial inclusion in rural areas and urban-rural areas of China. On this premise, based on the impact of Internet finance on rural commercial banks and the comparison between rural commercial banks and other commercial banks, this paper briefly discusses the improvement direction of marketing strategies of rural commercial banks using the traditional 4P theory as an example. In terms of products, we can learn relevant technologies from large commercial banks and actively develop products that meet customers' needs; the pricing strategies of commercial banks or financial institutions in different rural areas should be focused, and product prices can be dynamically adjusted according to the background of the general environment rather than fixed; at the same time, we should deepen offline sales channels and actively open online channels, combining online and offline media; finally, agricultural commercial banks should adhere to the principles of innovation. Finally, agribusiness banks should comply with the principles of invention, stability, and compliance and pay attention to adopting technology for risk control.

Rural Financial Decision Support System Based on Database and Genetic Algorithm

With the development of society and economy, the rural financial institution system mainly includes cooperatives and political and commercial rural financial institutions, and they are supplemented by agricultural insurance, guarantee, securities and other nonfinancial organizations to improve their own functions. Rural credit cooperatives have higher investment and operation risks than other financial institutions. New-type rural financial institutions are more sensitive to the market environment, asset quality and profitability, and risk-taking ability. Internal and external risks continue to accumulate, and their potential is low. These risks pose serious obstacles to the development and growth of financial institutions such as rural banks and microfinance companies, and pose major challenges to the security and stability of rural areas and agriculture. Using database and genetic algorithm to study rural credit risk, profitability, and liquidity, in order to track the impact of each explanatory variable in the system on the explained variable, the impulse response function is used to analyze the impact of nonperforming loan ratio on asset profitability. The data are all close to 0, indicating that the influence between the two is more obvious. The intelligent decision-making system support system evaluates the market risk, credit risk, liquidity risk, and risk management and risk acceptance of rural financial institutions and explores effective countermeasures for their sustainable development.

FEATURES OF FUNCTIONING OF FINANCIAL MARKETS UNDER CONDITIONS OF GLOBAL INSTABILITY

The article examines the peculiarities of the functioning of financial markets in conditions of global instability, as well as the influence of factors contributing to this: geopolitical tensions, economic fluctuations and systemic risks. The elements of the financial market are defined: the totality of financial assets; the system of financial institutions (state management and control bodies and market financial infrastructure); technologies for concluding agreements for the purchase and sale of financial assets; the totality of operations on the purchase and sale of financial assets. The total assets of Ukrainian commercial banks were analyzed from 2008 to 2021. It was noted that the structure of the assets of Ukrainian banks is quite diverse and includes such components as cash, bank deposits, loan portfolios, securities, real estate and other assets. Therefore, when analyzing bank assets, it is important to pay attention to their structure and quality, which can significantly affect the financial results of banks and the overall stability of the country’s financial system. In order to study the peculiarities of the functioning of financial markets in conditions of global instability, an analysis of the main factors that can affect the stability and risks of financial markets was carried out. The author of the article explored the role of global factors such as economic instability, political and geopolitical risks, trade conflicts, and national and international regulatory policies. The main conclusions of the article show that financial markets are very sensitive to changes in the external environment and economic events, so risk management in financial markets is an extremely important task. The article noted the importance of an effective regulatory policy that can ensure stability and protection of financial markets from threats. The importance of understanding the interrelationships between the financial and real sectors of the economy, as well as the impact of information technologies on financial markets, is emphasized. Research into these aspects can help improve risk management in financial markets and ensure their stability in a global context. In general, the study contributes to the understanding of the complex and important issue of the functioning of financial markets in global conditions of instability, makes it possible to understand the main factors that affect the stability of financial markets, and emphasizes the need for an effective regulatory policy to ensure their stability and protection from various threats. The results of the study can be useful for economic researchers, risk management professionals, as well as for government and regulatory bodies in the field of finance.

Compulsory financial ombudsman under the regulator’s umbrella: Testing a new model of dispute settlement

In post-Soviet countries, the courts are not always effective in resolving consumer disputes. I compare the models of organizing the work of financial ombudsmen in Russia, Kazakhstan, Azerbaijan and Armenia, as well as plans for its implementation in Kyrgyzstan and Belarus. Models of compulsory mediation in a number of European jurisdictions are also analyzed. In some countries there is a tendency towards an increase in the influence of the regulator on the work of financial ombudsmen. The reform of the Russian financial ombudsman is the first attempt at introducing a new compulsory ombudsman model for financial markets. It will be a mandatory stage initiation of a lawsuit in a civil court. The new Russian model is unique, differing both from the models established in the countries of the European Union (centralized, decentralized, professional association), as well as models implemented in other post-Soviet countries. The Russian financial ombudsman model is essentially a combination of Italian compulsory mediation on the basis of coercion before the dispute is considered by the court, and the English financial ombudsman on the basis of a vertical system headed by a sole chairman who is de facto appointed by the financial services regulator, while membership in this system of financial institutions that provide regulated services is generally mandatory. Whether the compulsory financial ombudsman under the Central Bank ‘umbrella’ will manifest itself positively or negatively will determine the possibility of extending this scheme to other categories of consumer disputes in the financial markets and such as housing construction and repair, utilities, and telecommunications with many small and medium consumer claims. Furthermore, since a number of post-Soviet countries continue to rely on the Russian experience, in such countries there may be an expansion of mandatory ombudsmen under the umbrella of regulators as well.

Development and Transformation of Inclusive Finance in my Country's Commercial Banks

Different degrees of financial exclusion will exist in the process of financial development. Vulnerable groups such as low-income groups are often excluded from formal financial services and cannot obtain normal financial services. The concept of inclusive finance is based on such a reality. The realization of financial inclusion aims to enable economic entities at different levels of society to obtain the necessary and reasonable financial services and financial support. As the main body of my country's financial institution system, commercial banks are not only providers of inclusive financial services, but also play the role of leaders in inclusive financial innovation. Therefore, it is necessary to strengthen the capacity building of commercial banks' inclusive financial services and improve their inclusive financial services. The quality and efficiency of financial inclusion are related to the development level and sustainability of inclusive finance in the whole society. At present, my country's commercial banks are actively exploring and practicing digital transformation. Through the empowerment of financial technologies such as big data and artificial intelligence, they have developed inclusive financial services and product models to solve the problems of difficult and expensive financing for the private economy. This paper first introduces the dilemma of developing inclusive finance under the traditional model of commercial banks, mainly including information asymmetry, low level of management refinement, and insufficient customer coverage. The use of digitization can solve many problems in traditional models; finally, the article proposes inclusive finance for my country's commercial banks from the aspects of accelerating data application transformation, enriching customer acquisition scenarios, promoting digital process transformation, innovating risk control technology, and cultivating digital transformation professionals. Policy recommendations for digital transformation development.

Financial strategy in the conditions of economic transformations

Relevance of the research topic. In the conditions of economic transformations the financial strategy acts as the important economic lever of influence of public administration bodies on social and economic development of the country. The assessment of the mechanism of financial regulation in Ukraine indicates the need to develop the components of the financial system in conjunction with the transformational economic processes and the development of a sound financial strategy in accordance with the goals and objectives of social development. Formulation of the problem. The importance of developing a financial strategy in the context of economic transformation is due to the need to take into account the impact of internal and external challenges in the financial and economic environment, economic fluctuations due to the spread of the coronavirus pandemic. At the same time, the choice of financial strategy tools should be made taking into account the level of economic development of the country. Analysis of recent research and publications. The issue of developing a financial strategy is quite common in research. These are the works of famous domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, W. Tanzi, S. Kucherenko, L. Lysyak, L. Levaeva, I. Lukyanenko, V. Makohon, M. Pasichny, I. Chugunov and others. Selection of unexplored parts of the general problem. The above issues are relevant in connection with the deepening of economic transformation, the adverse impact of the Crown virus pandemic on the financial sector, which requires a number of specific tasks related to the development of financial strategy. Problem statement, research goals. The objectives of the study are: to reveal the role of financial strategy in the regulation of socio-economic processes, to substantiate the peculiarities of the development of the components of the financial system. The purpose of the study is to reveal the directions of financial strategy in the context of economic transformation. Method or methodology of the study. The article uses a set of research methods: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Presentation of the main material (results of work). The role of financial strategy in the regulation of socio-economic processes is revealed, the peculiarities of formation and implementation of financial strategy are substantiated. The directions of financial strategy in the conditions of economic transformations are substantiated. Field of application of results. The results of the study can be used in the process of formation and implementation of financial policy of Ukraine, reforming the domestic financial system and its components. Conclusions in accordance with the article. The qualitative level of formation and implementation of financial strategy is determined by the system of financial institutions, the state of their development in a particular country aimed at ensuring economic growth and welfare of citizens. The functional purpose of financial strategy is the result of the evolution of the role and importance of state functions in socio-economic development. Depending on the dynamics of socio-economic processes, the tasks of the financial strategy and the tools for its implementation should be adjusted. The financial strategy in the conditions of economic transformations should be directed on formation of long-term potential of economic growth and increase of well-being of the population taking into account demographic tendencies and indicators of the macroeconomic forecast of social and economic development of the country.

Short Communication: Robust Market-Adjusted Systemic Risk Measures

In this note we consider a system of financial institutions and study systemic risk measures in the presence of a financial market and in a robust setting, namely, where no reference probability is...

Data analysis in Cashless Payment Systems

The use of artificial intelligence in the financial sphere are analyzed in this study. One of the possible areas of using neural network in financial institutions is the system of cashless payments. One of the main problems in introducing innovative projects is to evaluate the efficiency of the implemented information system. In this regard, the construction of an investment model that allows evaluating the implementation and use of artificial intelligence in the cashless payments system of financial institutions is proposed in this article. Based on the constructed model, an analysis is made of the dependence of the effectiveness of the system with artificial intelligence on the size of the client base of a credit organization, while the minimum and maximum possible efficiency parameters of the implemented system are evaluated. Based on a comprehensive analysis, recommendations are given on perspectives of introducing such systems into credit organizations.

Directions of budgetary policy adaptation to socio-economic processes under the transformation conditions

Relevance of the research topic. In the conditions of transformations, the budget policy is the most crucial government economic lever of influence on social and economic processes. The main reasons that hinder the effective implementation of fiscal policy are the political risks associated with finding ways to optimize it. Accordingly, risk assessment is a necessary condition for timely decision-making and ensuring macroeconomic stability, long-term balance, and stability of the budget system. Formulation of the problem. Based on the peculiarities of socio-economic development, important tasks in the conditions of transformations are substantiation of directions of budget policy, optimization of budget revenues and expenditures architecture. At the same time, the choice of budget tools should be made, taking into account the level of economic growth of the country. Analysis of recent research and publications. Problems of formation and implementation of budget policy, its adaptation to socio-economic processes are quite common in research. These are the works of well-known domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, V. Tanzi, O. Vasilika, I. Zapatrina, S. Kucherenko, L. Lysyak, L. Levaieva, І. Luk’yanenko, M. Pasichnyi, A. Sokolovsko, I. Chugunov, and others. Highlighting unexplored parts of a common problem. The above issues are relevant in connection with the deepening of transformation processes, the adverse impact of the COVID-19 pandemic on the budget balance, which requires several specific tasks related to the formation and implementation of fiscal policy. Goal setting, research goals. The objectives of the study are: to reveal the essence and relationship of budget policy with socio-economic processes. Also, to justify the peculiarities of the budget revenues and expenditures formation at the current stage of the budget system development. The purpose of the study is to reveal the directions of adaptation of budget policy to socio-economic processes in the conditions of transformational transformations. Research method or methodology. The set of methods of scientific research is applied in the article: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Basic material presentation (results of work). The essence and interrelation of budget policy with socio-economic processes are revealed, the peculiarities of budget revenues and expenditures formation are substantiated. The directions of adaptation of budgetary policy to social and economic processes in the conditions of transformational transformations are substantiated. Area of application of results. The results of the study can be used in the process of forming and implementing the budgetary policy of Ukraine, reforming the public finance system. Conclusions according to article. The qualitative level of formation and implementation of budget policy is determined by the system of financial institutions, the state of their development in a particular country aimed at ensuring economic growth and welfare of citizens. An essential condition for the dynamic growth of the domestic economy is a comprehensive solution to social and economic problems by ensuring the balanced development of the economy and the social sphere, strengthening decentralization processes.

Risk Management of Industrial Investment Fund in Marine Economic Zone: An Investor Protection Based Study

Wang, X. and Dai, S.-F., 2020. Risk management of industrial investment fund in marine economic zone: An investor protection based study. In: Qiu, Y.; Zhu, H., and Fang, X. (eds.), Current Advancements in Marine and Coastal Research for Technological and Sociological Applications. Journal of Coastal Research, Special Issue No. 107, pp. 33-36. Coconut Creek (Florida), ISSN 0749-0208.The 21st century is the era of marine economy, and the exploitation of marine resources has been widely valued by all countries in the world. Therefore, the marine economy has gradually become an industrial cluster, which has become an important growth point for the development of a country. With the construction of Marine Economic Zone, marine industry investment fund has become an important way of investment industry. However, the development of China's industrial investment fund started late, which caused many problems, such as different scale, low industry maturity and so on. Therefore, there will be many risks in the industrial investment fund of China's marine economic zone. Based on the perspective of investor protection, this paper analyzes the risk management of investment funds in financial practice, which will form a mature system of financial institutions. However, China's marine economic zone has not yet established a comprehensive risk management system, which is a low awareness of investors' risk management. Therefore, this paper analyzes the necessity of the industrial investment fund in the marine economic zone. Then, this paper analyzes the investment fund management mode of the marine economic zone. Finally, this paper puts forward suggestions and measures.

INTERNAL SYSTEM OF LABOR DISPUTES SETTLEMENT WITHIN INTERNATIONAL FINANCIAL ORGANIZATIONS

The article analyzes provisions of the statutory and procedural acts (Statutes, Rules, Staff Manuals etc.) adopted within the international financial institutions (International Monetary Fund, World Bank, Inter-American Development Bank, Asian Development Bank, African Development Bank) regarding the settlement of disputes emerging between the staff and the administration. It is emphasized that dispute prevention and resolution is today attracting more and more attention, as the effective prevention and resolution of labour disputes is critical for sound and productive employment relations worldwide. It is noted that the internal justice systems of these financial institutions are aimed primarily at resolving work-related issues and claims in order to ensure a harmonious and respectful working environment. It has been established that the internal mechanism for resolving labor disputes has a two-tier system, which includes informal (Ombudsman, mediation service, etc.) and formal levels (administrative review, Administrative tribunals, etc.). It is paid attention to the fact that administrative tribunals serve as the independent judicial forums for the resolution of employment disputes arising between international financial organizations and their staff members and application may be filed only after the exhausting all available channels of administrative review. It is indicated that all the resolution of labor disputes within the informal level is operational confidential and voluntary. Attention is drawn to the fact that, unlike the United Nations, the administrative tribunals established in the system of international financial institutions are single-level, and their decisions are final and are not subject to further appeal. The relevant conclusions have been drawn.

FINANCIAL MARKET OF UKRAINE - A MODERN LOOK AT THE ESSENCE OF THE CONCEPT

The article presents a modern view of understanding of "financial market" concept, as the development of financial technologies gradually influences the change of paradigm of its functioning, new financial institutions, institutions of market infrastructure, financial instruments are emerging, as well as the development of forms of alternative financing. On the base of the systematization, it is determined that the term "financial market" in the current scientific literature is considered from three positions, first as a mechanism of distribution of financial resources, secondly, as a system of economic relations, and thirdly as a set of markets and institutions. As a result of the research on the contrary to the popular opinion that the financial services market and the financial market are two separate markets, it has been substantiated that the financial services market is a part of the financial market, because financial instruments are formed through the provision of financial services. The financial market and the market of financial services have common subjects - financial intermediaries (banks, insurance companies, non-government pension funds, investment funds, etc.), but at the same time the objects of these two markets are different. Financial instruments are objects for financial markets, and services – for the market of financial services. Through the process of financial services providing, financial intermediaries ensure the fulfilment of the basic function of the financial market, which is the redistribution of financial resources in the economy, thereby creating financial assets, liabilities, etc., which is the basis for the formation of financial instruments. Taking into account of the impact of fintech on the development of the financial market, author's definition was presented in this work as a system of financial institutions (market subjects), which create the conditions for transactions with financial instruments of economic agents (market objects) using appropriate infrastructure and financial technologies. Transfer of flows of financial resources in the economy at national, subnational and global levels, adequate assess of financial risks and ability to absorb exogenous and endogenous shocks were determined as a purpose of the functioning of the financial market. Keywords: fintech, financial instruments, financial institutions, financial services market, financial system, financial services..

Material and technical base of the Chelyabinsk Region financial bodies during the Great Patriotic War

The paper describes the material and technical position of the financial bodies in the Chelyabinsk Region in 19411945. The author provides a structure of regional financial institutions, which included the financial departments (Financial Department of the region, city and districts), savings-banks and long-term lending banks. The paper also examines dynamics of changes in the material and technical support of the regional financial system during the war. The analysis of archival sources clearly shows that in the first years of the war the material and technical support of the regional system of financial institutions was in critical condition: there was not enough office space, transport, calculating machines and typewriters as well as other necessary equipment for the work. But with the beginning of a radical change in the lines the situation gradually began to improve. Both cash and food were increased, the situation with transport, office and accommodation space was stabilized, new equipment appeared. Despite the difficult situation, the material and technical support did not have a significant impact on the effectiveness of the regional financial bodies. Financial stability was maintained both at the nationwide and regional levels. The government targets of military loans distribution were not only performed but also beaten. In total, 1,6 billion rubles were collected in the Chelyabinsk Region, which is 2% of the nationwide funds received from the distribution of the government loan. The most important indicator of the work efficiency was the qualitative performance of regional budgets.

1403 金融機関システムにおける元号変更対応のコスト削減について(一般セッション)

1403 金融機関システムにおける元号変更対応のコスト削減について(一般セッション)

The Effects of Corporate Governance System of Financial Institutions on Earnings Management －Focus on Mutual Savings Bank’s Ownership Structure－

The Effects of Corporate Governance System of Financial Institutions on Earnings Management －Focus on Mutual Savings Bank’s Ownership Structure－

Shanxi Merchants’ Multilevel Financial System in Ming and Qing Dynasties, China

ABSTRACTIn the Ming and Qing Dynasties (1368–1911), China saw rapid development in industrial and commercial sectors. Over this period, a group of merchants originating from the inland province of Shanxi gradually built a multilevel financial system and became leaders in China’s banking sector. The system of financial institutions they established (pawnshops, seal shops, money shops, loan banks, and draft banks) each had a unique business model, with specific target client group and carefully designed risk management. They were also interconnected to allow for flexible capital flows, contributing to the fast economic growth in this period. Nevertheless, the traditional system also had limitations, leading to its replacement by modern banks eventually.

The Characteristics of Japan's Software Industry and Offshore Development in Dalian, China1

In recent years, Japan's software industry has increased its revenue. However, with strong need to reduce the sale price, both firms and employees share the pain. The main products by the Japanese software industry are ordered software such as software to be imbedded in home appliances or software for system of financial institutions. Therefore, software industry faces the difficulty to raise the price, and the firms need to deploy the offshore development in order to cut the cost. The major destination of the offshore development is China. The reasons are cheaper wage, huge number of engineers, ability of learning Japanese, and geographical accessibility. When using the offshore development, firms need to achieve both reducing the cost and stabilize the demand fluctuation. Many large firms establish their subsidiary for cheap product and accept additional demand at mother plant. Small and medium firms use the intermediating company, which has long experiences of business with both Japanese and Chinese business. After several years since offshore outsourcing to China started, we cannot observe the strengthening of the collaboration of firms in the clustering such as Dalian Software Park. Rather than that, firms are facing the need to change their strategy because the wages are increasing even in China.JEL Classification: F15, F21, L86