The thesis in question decides the actual scientific and practical task of improving theories, perfecting methodological support and developing practical recommendations concerning the functioning of the international financial conglomerates in Ukraine.
Based on a systemic approach and logical analysis, a conceptual and categorical framework determining the functioning of international financial conglomerates (IFCs) has been developed. An IFC is a group of companies under common control that operates internationally and provides a range of financial services in at least two out of the four types of financial activities, namely: banking, insurance, management and securities or investment products sales. In contrast to the existing definitions, the one suggested by the author of the thesis in question is mutually conditioned by processes in economic and institutional aspects. This theoretical interpretation allows the author to compare and take into account the prudential norms of the interacting parties, as well as therequirements of international organizations as to the regulation of international financial conglomerates.
Procedures for determining the level of influence of international financial conglomerates on the financial stability of Ukrainian economy have been developed.
International activity and trade have expanded greatly; the share of new financial services has increased, and digital financial entities have emerged. The importance of the banking system for the entire global economy is highlighted, and an IFC is identified as a key link in this mechanism, particularly during the crisis caused by the Coronavirus pandemic.
A methodological approach to ranking international financial conglomerates by a set of features characteristic for their functioning is suggested. This approach consists of the following stages: performance evaluation of international financial conglomerates in the world market; performance analysis of international financial conglomerates in Ukraine by various criteria; empirical analysis of factors influencing the efficiency of international financial conglomerates in Ukraine; ranking international financial conglomerates in Ukraine by various criteria. The ranking takes into account the following criteria: banking soundness for individuals; banking soundness in Ukraine for legal entities; deposit opening for insuring companies; profit; assets size; retail deposits; legal entities’ deposits; amount of obligations; granting loans to individuals; granting loans to legal entities.
According to the obtained empirical data, received due to to the author's methodological approach, the priority ranks are held by the following state financial institutions: Oschadbank, Privatbank, Ukrgasbank and Ukreximbank. The suggested methodological approach to ranking international financial conglomerates by a set of features of their functioning has made it possible to adapt international rankings to the country of the subsidiary, as well as to identify leaders and outsiders in the functioning of IFC.
Methodological instruments for the comprehensive assessment of the IFCs functioning at the macro- and micro-levels have been structured. The following new instruments for comprehensively assessing the functioning of the IFC are suggested: the use of innovation (intellectual property) of financial services, their distribution between legal entities and individuals (quality dimension of the organizational capital); and the use of investment attractiveness as a parameter of the reputational component of the organizational capital. The methodological instruments suggested will increase the reliability of the formation of strategic guidelines for the development of subsidiary units.
Organizational support for the IFCs functioning has been formed, which, unlike the existing ones, lies in the formation of institutional, organizational and economic support for the functioning and development processes in order to ensure financial markets stability.
Strategic guidelines for the development of international financial conglomerates in Ukraine and areas for improving the regulatory framework for the IFCs functioning in Ukraine have been developed.
Key words: global financial market, international financial conglomerates, functioning of international financial conglomerates, institutional aspect, efficiency of functioning, development strategy, strategic guidelines of development, prudential supervision.
