Peculiarities of functioning of financial and credit mechanism for performing leasing operations in developed countries and in Ukraine
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DOIhttp://dx.doi.org/10.21511/ppm.15(4-1).2017.05
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Article InfoVolume 15 2017, Issue #4, pp. 209-221
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World experience shows that improving the equipment and machinery supply efficiency in all economic sectors and, thus, contributing to the country’s economic growth can be achieved through the effective functioning of the financial and credit mechanism for performing leasing operations. Given that Ukrainian leasing market is at the formation stage and the economy is in the crisis, the issues of improving the leasing industry activity are extremely important for Ukraine.
Thus, the purpose of the article is to study the worldwide experience of the functioning of the financial and credit mechanism for performing leasing operations and to substantiate the need to implement new leasing tools and forms in Ukraine and the use of new financing sources for leasing operations.
It is determined that in order to improve functioning of the financial and credit mechanism for performing leasing operations in Ukraine, it is necessary to diversify financing sources of leasing operations by using institutional investors’ or venture capital investors’ funds and certificates, pools of securities provided with assets, which is a lease agreement. At the same time, as experience of the developed countries shows, new instruments and forms of leasing operations should be applied in Ukraine, in particular securitization, venture leasing, complex and operational leasing, which should improve the leasing industry activity. It was revealed that the secondary leasing market development in Ukraine should help to reduce the leasing companies’ vulnerability to the risk of equipment price change.
During scientific research, the methods of logical generalization and scientific abstraction, the statistical method (to analyze the leasing market development in the world and in Ukraine), the graphical method (for the changing dynamics of the main indicators of Ukrainian leasing market development), the comparative analysis method (while comparing the features of the functioning of the financial and credit mechanism for performing leasing operations in developed countries and in Ukraine) have been used.
Research results provide grounds for arguing that in order to improve the leasing industry activity in Ukraine, it is necessary to improve the financial and credit mechanism for performing leasing operations directly through the tools, forms and leasing operations financing sources diversification
- Keywords
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JEL Classification (Paper profile tab)G20, G21, G23, G29
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References27
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Tables3
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Figures1
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- Figure 1. Dynamics of performed financial leasing transactions in Ukraine
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- Table 1. Characteristics of the leasing evolution stages in the world
- Table 2. Comparative characteristics of leasing services provision in Ukraine and in the world
- Table 3. Types of loans granted to support the leasing industry in the Eurozone
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Impact of the Basel IV framework on securitization and performance of commercial banks in South Africa
Damilola Oyetade
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Adefemi A. Obalade ,
Paul-Francois Muzindutsi
doi: http://dx.doi.org/10.21511/bbs.15(3).2020.09
Banks and Bank Systems Volume 15, 2020 Issue #3 pp. 95-105 Views: 1297 Downloads: 1112 TO CITE АНОТАЦІЯSecuritization has been used as a tool for bank funding, liquidity, risk management, and performance for over two decades. However, securitization activities were negatively affected by the recent financial crises, which led to stricter regulations of banks’ off-balance-sheet activities. This study examined the possible impacts of the Basel IV capital requirements on securitization activities and the performance of commercial banks in South Africa if implemented. The study used aggregated financial data of selected South African commercial banks to create a sample representative projection as if the selected banks had implemented the Basel IV capital requirements between 2002 and 2018. The simulated data were analyzed and compared to Basel III data using panel data analysis under certain assumptions, while other conditions held constant. The results revealed that the implementation of the Basel IV capital requirements will have a significant positive impact on securitization activities of commercial banks in South Africa. However, higher capital requirements of Basel IV may have no significant impact on performance of securitizing banks but it can protect banks from securitization exposure.
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Cognitive modeling of factors of influence on the processes of formation and reproduction of fixed assets of agricultural enterprises
Olena Yatsukh
doi: http://dx.doi.org/10.21511/dm.4(4).2018.07
The features of financial support for reproduction of fixed assets of agrarian enterprises are considered in the article. These include quantitative and qualitative differences in the basic assets of agrarian enterprises, seasonal production, long payback period of capital investments, the reproduction in agricultural enterprises of a significant part of fixed assets in kind, unsustainable financial condition of enterprises and lack of collateral for obtaining long-term loans, undervalued value of fixed assets, no accrual of depreciation on land. For the agricultural enterprises of Ukraine, a cognitive model of the situation "Fixed Assets" was developed, which allows us to investigate factors that determine the possibilities of expanding their reproduction in the light of unstable conditions of functioning. On the basis of cognitive modeling, studies of a possible scenario for the transformation of this system in accordance with the purpose of management have been carried out and modeling the dynamics of the levers of directing the management influences depending on the chosen behavior. It is established that the most significant factors influencing changes in the system of fixed assets are: net profit received by enterprises of the agrarian sector of Ukraine, state support of agricultural producers, foreign investments in agriculture and financing of fixed assets on the basis of leasing. Based on a correlation-regression analysis based on the estimation of stable cause-and-effect relationships, establishing quantitative relations between random variables of the investigated process, conditional forecasts of changes in the size of fixed assets of agricultural enterprises are constructed.
