Krasnova I. Asset management on integrated financial markets

Theoretical approaches to the definition of the concept of «integrated financial market» are revealed, from the synergetic approach point of view its features are defined. Determinants, forms and methods of financial integration are revealed. The economic essence of «derivative financial instruments», which distinguishes them from securities, and the market around which, the processes of financial integration are taking place, are announced. Methods of evaluation are determined. Author’s classification of risks of financial integration process and channels of their distribution is formulated. The economic substance of the «financial asset» concept, its features which are supplemented by the concept of volatility, is revealed. A technique has been developed for assessing asset price dynamics under conditions of instability using GARCH modelling. A methodological framework for assessing the level of integration between individual segments of the financial market. The methodical approaches on assessing the depth of financial risks integration, which have been tested on practical material, have been developed. An author's methodical approach on assessing the level of Ukraine’s financial market segments integration is developed. The directions and forms of financial convergence and concentration are determined. Formation of investment strategies directions and tendencies are analysed, ecosystem financial innovations are considered in the context of financial integration tendencies. The ways of improving the identification system and market risk management are substantiated. In order to minimize the impact of market risk on the price of a financial asset, ways of modifying CAPM model are proposed. The clustering of business models is carried out using Kohonen maps. Proposals for improving approaches and management parameters based on institutional and network approaches are presented.