Public policy and financial regulation in preventing and combating financial fraud: a bibliometric analysis
-
Author(s)Hanna FilatovaLink to ORCID Index: https://orcid.org/0000-0002-7547-4919
,
Milos TumpachLink to ORCID Index: https://orcid.org/0000-0003-3389-6803
,
Yaroslav ReshetniakLink to ORCID Index: https://orcid.org/0000-0003-0806-0801
,
Serhiy LyeonovLink to ORCID Index: https://orcid.org/0000-0001-5639-3008
,
Nataliia VynnychenkoLink to ORCID Index: https://orcid.org/0000-0002-6730-4629
-
DOIhttp://dx.doi.org/10.21511/pmf.12(1).2023.05
-
Article InfoVolume 12 2023, Issue #1, pp. 48-61
- Cited by
- 434 Views
-
112 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
This study aims to conduct a bibliometric analysis on the topic of public policy and financial regulation in preventing and combating financial fraud using a variety of bibliometric methods and tools, including the in-built tools of Scopus by Elsevier (SciVal) and Web of Science by Clarivate Analytics, as well as VOSviewer software. The most relevant publications related to the search terms were identified. Based on the results, a map illustrating the interrelationships of concepts such as “financial fraud,” “public policy,” and “financial regulation” with other categories was created, allowing for the identification of five clusters, each of which was characterized in detail. The results of the evolutionary and temporal analysis of scientific research showed that before 2000, scholars focused on the legislative aspects of combating financial fraud; from 2000 to 2015, on risk management and the impact of financial fraud on economic growth; from 2016 to the present, on the search for methods and tools to detect and combat financial fraud. The spatial analysis confirmed a predominantly intercontinental connection between researchers. The comparison of subject areas demonstrated the interdisciplinary nature of the study, with a predominant focus on the fields of “computer science” and “economics, econometrics, and finance,” which is logical considering the economic nature and the ongoing technological transformation of financial fraud. The results can be utilized to develop new strategies, policies, and legislative initiatives to ensure financial integrity and increase confidence in financial systems.
Acknowledgment
This study is funded by the Ministry of Education and Science of Ukraine and contains the results of the projects No. 0123U101945 “National security of Ukraine through prevention of financial fraud and money laundering: War and post-war challenges”, 0121U109559 “National security through the convergence of financial monitoring systems and cyber security: Intelligent modelling of financial market regulation mechanisms” and by the Vega Agency No. 1/0638/23.
- Keywords
-
JEL Classification (Paper profile tab)K42, G28, G38
-
References46
-
Tables0
-
Figures8
-
- Figure 1. Identification of the relationship between “financial fraud” AND “public policy” AND “financial regulation” with other concepts
- Figure 2. Top 50 key phrases by relevance on the topic of public policy and financial regulation in combating financial fraud
- Figure 3. Map of the density of connections between concepts
- Figure 4. Visualization map of the contextual and temporal dimension of research
- Figure 5. Spatial-temporal component of bibliometric analysis
- Figure 6. Visualization map of co-authorship of scientists (criterion – country indicated in the affiliation)
- Figure 7. Structural analysis of publications on public policy in the field of combating financial fraud by subject area
- Figure 8. Top 100 topics and thematic clusters in the research area
-
- Adebayo, A. V., & Ilesanmi, K. D. (2020). Financial resource management in the Nigerian public sector: Policy measures to address loopholes. Problems and Perspectives in Management, 18(2), 329-339.
- Anisykurlillah, I., Jayanto, P. Y., Mukhibad, H., & Widyastuti, U. (2020). Examining the role of sharia supervisory board attributes in reducing financial statement fraud by Islamic banks. Banks and Bank Systems, 15(3), 106-116.
- Antoniuk, D. S., Vakaliuk, T. A., Didkivskyi, V. V., Vizghalov, O. Y., Oliinyk, O. V., & Yanchuk, V. M. (2022). Using a business simulator with elements of machine learning to develop personal finance management skills. CEUR Workshop Proceedings, 3083, 59-70.
- Bilan, Y., Brychko, M., Buriak, A., & Vasilyeva, T. (2019). Financial, business and trust cycles: The issues of synchronization. Zbornik Radova Ekonomskog Fakultet Au Rijeci, 37(1), 113-138.
- Brychko, M., Savchenko, T., Vasylieva, T., & Piotrowski, P. (2021). Illegal activities of financial intermediaries: A burden of trust crisis. Journal of International Studies, 14(1), 172-189.
- Dewi, Y., Suharman, H., Koeswayo, P. S., & Tanzil, N. D. (2023). What is the key determinant of the credit card fraud risk assessment in Indonesia? An idea for brainstorming. Banks and Bank Systems, 18(1), 26-37.
- Filatova, H., Voytov, S., Polishchuk, Y., & Dudchyk, O. (2022). The public debt of Ukraine in the economic development policy in the war and post-war periods: Bibliometric analysis. Public and Municipal Finance, 11(1), 142-154.
- Gharaibeh, O. K., & Kharabsheh, B. (2022). Corruption, political instability and their impact on investment: An FMOLS approach. Investment Management and Financial Innovations, 19(1), 77-90.
- Guan, H., Li, S., Wang, Q., Lyulyov, O., & Pimonenko, T. (2022). Financial fraud identification of the companies based on the logistic regression model. Journal of Competitiveness, 14(4), 155-171.
- Gurbanov, N., Yagublu, N., Akbarli, N., & Niftiyev, I. (2022). Digitalization and the Covid-19-led public crisis management: An evaluation of financial sustainability in the Azerbaijan business sector. SocioEconomic Challenges, 6(3), 23-38.
- Kartanaitė, I., Kovalov, B., Kubatko, O., & Krušinskas, R. (2021). Financial modeling trends for production companies in the context of industry 4.0. Investment Management and Financial Innovations, 18(1), 270-284.
- Kaya, H. (2022). Regulations and the characteristics of entrepreneurs. SocioEconomic Challenges, 6(3), 80-96.
- Koibichuk, V., & Dotsenko, T. (2023). Content and meaning of financial cyber security: A bibliometric analysis. Financial Markets, Institutions and Risks, 7(1), 145-153.
- Kozmenko, S. М., Korneyev, M. V., & Makedon, V. V. (2014). Financialisation of economy and its influence on the indicators of countries’ socioeconomic development. Aktualni problemy ekonomiky – Actual Problems of Economics, 161(11), 290-298. (In Ukrainian).
- Kozmenko, S., & Korneev, M. (2014). Periodization of financialization process of economics: Domestic and foreign contexts. Economic Annals-XXI, 9-10, 73-76.
- Kuzior, A., Brożek, P., Kuzmenko, O., Yarovenko, H., & Vasilyeva, T. (2022a). Countering cybercrime risks in financial institutions: Forecasting information trends. Journal of Risk and Financial Management, 15(12), 613.
- Kuzior, A., Vasylieva, T., Kuzmenko, O., Koibichuk, V., & Brożek, P. (2022b). Global digital convergence: Impact of cybersecurity, business transparency, economic transformation, and AML efficiency. Journal of Open Innovation: Technology, Market, and Complexity, 8(4), 195.
- Kuzmenko, O., Bilan, Y., Bondarenko, E., Gavurova, B., & Yarovenko, H. (2023). Dynamic stability of the financial monitoring system: Intellectual analysis. PLoS ONE, 18(1), e0276533.
- Kuzmenko, O., Cyburt, A., Yarovenko, H., Yersh, V., & Humenna, Y. (2021). Modeling of “information bubbles” in the global information space. Journal of International Studies, 14(4), 270-285.
- Lastri, S., Fahlevi, H., Diantimala, Y., & Ridwan. (2022). Mediation role of management commitment on improving fraud prevention in primary healthcare: Empirical evidence from Indonesia. Problems and Perspectives in Management, 20(1), 488-500.
- Lestari, D., Lesmana, D., Yudaruddin, Y. A., & Yudaruddin, R. (2022). The impact of financial development and corruption on foreign direct investment in developing countries. Investment Management and Financial Innovations, 19(2), 211-220.
- Liuta, O., & Mershchii, B. (2019). Assessment of the social and economic development of a region: Essence, methodology and correlation with transparency of local authorities. Public and Municipal Finance, 8(1), 83-93.
- Lyulyov, O., Paliienko, M., Prasol, L., Vasylieva, T., Kubatko, O., & Kubatko, V. (2021). Determinants of shadow economy in transition countries: Economic and environmental aspects. International Journal of Global Energy Issues, 43(2-3), 166-182.
- Maile, K. V., & Vyas-Doorgapersad, S. (2022). Organisational ethics management to promote good governance in the South African public service. Business Ethics and Leadership, 6(2), 78-85.
- Maris, M. (2022). Management of competitiveness in the EU Member States: The main strengths and weaknesses. Marketing and Management of Innovations, 2, 110-120.
- Muradov, İ. (2022). Problems of e-governance in government agencies and their solutions. SocioEconomic Challenges, 6(1), 79-86.
- Mynenko, S., & Lyulyov, O. (2022). The impact of digitalization on the transparency of public authorities. Business Ethics and Leadership, 6(2), 103-115.
- Njegovanović, A. (2023). Financial evolution and interdisciplinary research. Financial Markets, Institutions and Risks, 7(1), 71-95.
- Novak, O., Melnychenko, O., & Oliinyk, O. (2021). Improving the regulation of the derivatives market as an objective prerequisite for sustainable development of the global financial system. E3S Web of Conferences, 307, 02002.
- Ogunshola, I. B., & Kasztelnik, K. (2022). Observational study of tax compliance and tax evasion in Nigeria. Financial Markets, Institutions and Risks, 6(4), 1-14.
- Periansya, P., Dewata, E., Sopiyan, A. R., Sari, Y., & Basyith, A. (2023). Whistleblowing, fraud prevention, and fraud awareness: Evidence from the Palembang Local Government of Indonesia. Problems and Perspectives in Management, 21(2), 556-566.
- PwC. (2022). PwC’s global economic crime and fraud survey 2022. Protecting the perimeter: The rise of external fraud.
- Ratmono, D., & Darsono, D. (2022). New public management and corruption: Empirical evidence of local governments in Indonesia. Public and Municipal Finance, 11(1), 54-62.
- Salman, R. T., Sanni, P., Olaniyi, T. A., & Yahaya, K. A. (2022). Governance transparency of tax revenue performance in West Africa. Business Ethics and Leadership, 6(1), 14-24.
- Shahana, T., Lavanya, V., & Bhat, A. R. (2023). State of the art in financial statement fraud detection: A systematic review. Technological Forecasting and Social Change, 192, 122527.
- Slavinskaite, N., Lapinskiene, G., Hlawiczka, R., & Vasa, L. (2022). Financial innovation management: Impact of fiscal decentralization on economic growth of the Baltic countries. Marketing and Management of Innovations, 1, 257-271.
- Soltani, M., Kythreotis, A., & Roshanpoor, A. (2023). Two decades of financial statement fraud detection literature review; Combination of bibliometric analysis and topic modeling approach. Journal of Financial Crime.
- Su, H., Lu, Y., Lyulyov, O., & Pimonenko, T. (2023). Good governance within public participation and national audit for reducing corruption. Sustainability, 15(9), 7030.
- Tarjo, T., Anggono, A., Prasetyono, P., Yuliana, R., & Sakti, E. (2022). Association between fraudulent financial reporting, readability of annual reports, and abusive earnings management: A case of Indonesia. Investment Management and Financial Innovations, 19(1), 370-378.
- Tiutiunyk, I., Cieśliński, W., Zolkover, A., & Vasa, L. (2022). Foreign direct investment and shadow economy: One-way effect or multiple-way causality? Journal of International Studies, 15(4), 196-212.
- United Nations (UN). (2023). Statistics. United Nations Office on Drugs and Crime.
- Vasilyeva, T., Ziółko, A., Kuzmenko, O., Kapinos, A., & Humenna, Y. (2021). Impact of digitalization and the Covid-19 pandemic on the AML scenario: Data mining analysis for good governance. Economics & Sociology, 14(4), 326-354.
- Vovk, V., Zhezherun, Y., Bilovodska, O., Babenko, V., & Biriukova, A. (2020). Financial monitoring in the bank as a market instrument in the conditions of innovative development and digitalization of economy: Management and legal aspects of the risk-based approach. International Journal of Industrial Engineering & Production Research, 31(4), 559-570.
- Vysochyna, A., Molotok, I., Babenko, V., Merezhko, V., Holynska, O., & Rud, I. (2022). Impact of municipal financial resilience on sustainable economic development: Case of Ukraine. Review of Economics and Finance, 20, 662-668.
- Zakharkin, O., Zakharkina, L., Srovnalikova, P., Novikov, V., & Basanets, I. (2022). Evaluation of the transparency of the medical insurance system in Ukraine. Health Economics and Management Review, 3(3), 51-59.
- Zhghenti, T., & Gedenidze, G. (2022). Sharing economy platforms in Georgia: Digital trust, loyalty and satisfaction. Marketing and Management of Innovations, 2, 209-219.
-
Impact on poverty and income inequality in Malaysia’s economic growth
Rabiul Islam 
,
Ahmad Bashawir Abdul Ghani ,
Irwanshah Zainal Abidin ,
Jeya Malar Rayaiappan
doi: http://dx.doi.org/10.21511/ppm.15(1).2017.05
Problems and Perspectives in Management Volume 15, 2017 Issue #1 pp. 55-62 Views: 11845 Downloads: 5652 TO CITE АНОТАЦІЯPoverty and income inequality are extreme issues that still exist in Malaysia. Any rise in poverty and income inequality definitely affect economic growth. There are many great efforts taken by the government of Malaysia to eradicate poverty and to reduce the gap of income inequality which occurs since 1970’s. The incidence of poverty and income inequality is higher in rural areas compared to urban areas. This paper is mainly to study the level of poverty and income inequality in Malaysia together with government intervention to develop Malaysia’s economic growth. The research is focused among the working people at Ipoh, Perak. In this paper, questionnaire forms are being distributed to get information regarding the issue of poverty and income inequality. It also looks into the strategies taken by the government of Malaysia to eradicate poverty and income inequality. Few recommendations are given in terms of education policy, financial aid and assistance from government and non-government organization (NGO) to upgrade the standard and quality of living among the poor and lower-income group of people.
-
Impact of inflation on economic growth: evidence from Nigeria
Anthony Olugbenga Adaramola ,
Oluwabunmi Dada
doi: http://dx.doi.org/10.21511/imfi.17(2).2020.01
Investment Management and Financial Innovations Volume 17, 2020 Issue #2 pp. 1-13 Views: 8996 Downloads: 5249 TO CITE АНОТАЦІЯIn an attempt to examine the influence of inflation on the growth prospects of the Nigerian economy, the study employs the autoregressive distributed lag on the selected variables, i.e. real gross domestic product (GDP), inflation rate, interest rate, exchange rate, degree of economy`s openness, money supply, and government consumption expenditures for the period 1980–2018. The study findings indicate that inflation and real exchange rate exert a significant negative impact on economic growth, while interest rate and money supply indicate a positive and significant impact on economic growth. Other variables in the model depict no influence on the economic growth of Nigeria. The causality result shows the unidirectional relationships between interest rate, exchange rate, government consumption expenditures and gross domestic product. However, inflation and the degree of openness show no causal relationship with gross domestic product. As a result, the study recommends that a more pragmatic effort is needed by the monetary authorities to target the inflation vigorously to prevent its adverse effect by ensuring a tolerable rate that would stimulate the economic growth of Nigeria.
-
Formalization of the impact of imbalances in the movement of financial resources on economic growth of countries in Central and Eastern Europe
Serhiy Kozmenko ,
Maxim Korneyev
doi: http://dx.doi.org/10.21511/afc.01(1).2017.06
Accounting and Financial Control Volume 1, 2017 Issue #1 pp. 48-58 Views: 7839 Downloads: 1371 TO CITEThe article deals with the impact of financialization on economic growth in countries of Central and Eastern Europe. It determinesthe impact of imbalances in the movement of financial resources caused by financialization on economic growth of these countries. It proves that the implementation of measures aimed at increasing the openness of the economy and maintaining solvent demand have a positive impact on economic growth of the surveyed countries in the long run. It also proves the importance of developing a set of measures of strategic nature regulating imbalances in the movement of financial resources caused by financialization.
