THE MECHANISM OF PROVIDING BANKS TRANSPARENCY IN THE CONTEXT OF RESTORATION TRUST IN FINANCIAL SECTOR OF THE COUNTRY
Journal Title: Сталий розвиток економіки - Year 2017, Vol 37, Issue 4
Abstract
Purpose. Investigation of theoretical and methodological provisions on ensuring transparency of banks in the context of the need to restore public confidence in the financial sector of the country. Methodology of research. The foundation of the research is based on the fundamental provisions of economic theory, financial intermediation and state regulation. The following methods of cognition have been used, in particular: the methods of analysis and synthesis – in the study of the interpretation of the concept of «transparency», the method of generalization, the system approach and the graphic method – in the formation of the author's definition of transparency of the bank, the structural approach – to identify the main components of the transparency of the bank. Findings. The main approaches to the interpretation of the concept of «transparency» were systematized, authors understanding of the interpretation of this concept in the research is substantiated. The basic structural elements forming the transparency of banking institutions are determined. The mechanism of ensuring transparency of banks by means of separation of two areas: self-regulation and state regulation are revealed. The importance of forming a transparent banking environment for increasing the confidence of clients, lenders and investors of the bank, as well as formation of the corporate culture of the bank through introduction of self-regulation of ensuring transparency of the bank in a complex with state regulation, which is mandatory for all banking institutions, is proved. Originality. It was substantiated that ensuring banks transparency as one of the areas of increasing confidence in the financial sector of the country, improved the main components that form the banks' transparency at the present stage and defined the mechanism of its provision. Practical value. The results of the study may be proposed for the effective development of the financial sector of the country with the further restoration of trust.
Authors and Affiliations
Anna Buriak, Kateryna Viakhirieva
Keywords
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