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Payment non-bank credit organizations as subject of competitive fight in domestic banking market

Ezrokh Yu.S. PhD in Economics, Senior Lecturer of the Department of Banking, the Novosibirsk State University of Economy and Management ( ezroh@mail.ru )

Journal: Finance and Credit, #42, 2013

In the article features of activity of the payment non-bank credit organizations (PNBCO) in the modern Russian highly competitive banking market are considered, competitive influence of PNKO on the banking market is investigated. Evolution of the modern payment systems constructed on the address of electronic money is analyzed; features of the current legislation regarding possibility of acceptance of participation of PNKO in gray economy are estimated.


Developing the domestic practice of credit bureaus in line with foreign experience

Ezrokh Yu.S. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( ezroh@rambler.ru )

Karanova S.O. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( sunnysaniya@rambler.ru )

Journal: Financial Analytics: Science and Experience, #6, 2016

Importance The article investigates the national and foreign experiences of using credit bureaus.
     Objectives The research emphasizes the principal aspects that describe how foreign mechanisms accumulate and use data on credit histories of citizens and entities. We also review how the most effective practices may be implemented in Russia, formulate our own proposals for developing the domestic practices of credit bureaus.
     Methods Based on the synthesis of scientific knowledge, we articulated our own proposals for developing the domestic institution of credit bureaus.
     Results Russia was proved to have applied positive foreign experience in using credit bureaus almost entirely. We formulated our proposals to improve separate aspects.
     Conclusions and Relevance We conclude that it is necessary to further develop operational conditions for credit bureaus as an important aspect of Russia's market economy, especially during the economic crisis, when market actors dramatically seek for information on the reliability and financial discipline of their customers.


Credit cooperation in Russia: Current state and competitive prospects

Ezrokh Yu.S. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( ezroh@rambler.ru )

Journal: Financial Analytics: Science and Experience, #9, 2017

Subject The article addresses the general competitive ability of credit cooperatives, which is determined by competitiveness of services they provide in relation to financial products of other credit market participants.
Objectives The purpose is to assess the current state and prospects for enhancing the competitiveness of credit cooperatives providing deposit and credit services.
Methods The study draws on general and special methods of scientific knowledge, like analysis, measurement, observation, synthesis, and special economic and statistical methods.
Results The paper reveals that the instability of credit cooperative market is a negative factor of competitiveness; credit services competitiveness is low due to high borrowing costs; savings services competitiveness is average, it is caused by the existing deposit insurance system. Additional negative impact on competitiveness is attributable to low transparency in service delivery. These findings determine negative competitive prospects for credit cooperation in Russia and the need to take appropriate measures.
Conclusions The paper substantiates the need to reform this financial market segment and presents four blocks of recommendations. They include enhancing the transparency of credit cooperatives' operations, toughening the supervision over these entities; reorganizing large credit cooperatives into deposit and credit non-bank institutions; encouraging more scientific discussion on the subject.


Restructuring of national banking systems: domestic and some foreign practices

Ezrokh Yu.S. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( ezroh@rambler.ru )

Journal: Financial Analytics: Science and Experience, #18, 2016

Importance The article overviews practical specifics and methods of restructuring national banking systems.
Objectives I examine national and foreign practices of restructuring national banking systems to analyze relevant issues of the national banking system at the current phase. I look into prospects of developing the area in question, considering existing positive and negative experience.
Methods Using a historical method and synthesis of scientific knowledge, I assessed and evaluated premises, methods and results of restructuring of Russia's banking system in 2014–2015 on the basis of data of the Central Bank of Russia, Deposit Insurance Agency.
Results I revealed the specifics of undertaking measures to restructure some national banking systems abroad, evaluated domestic practices so to examine the efficiency of restructuring measures at the current phase, considering the continuing banking and economic crisis. Russia's banking system was proved to have been restricted ineffectively within 2014–2015. The Central Bank of Russia used a part of methods it tested in 2008–2009, without using foreign expertise sufficiently.
Conclusions and Relevance I prove the need to ignite the national banking system restructuring bearing in mind that the economic crisis may aggravate. The crisis may be more devastating and governmental spending on restructuring may increase due to a protracted period of accumulation, keeping banking challenges on hold.


Restructuring of national banking systems: Domestic and some foreign practices

Ezrokh Yu.S. Novosibirsk State University of Economics and Management (NSUEM), Novosibirsk, Russian Federation ( ezroh@rambler.ru )

Journal: Finance and Credit, #7, 2019

Subject The article overviews practical specifics and methods of restructuring national banking systems.
Objectives I examine national and foreign practices of restructuring national banking systems to analyze relevant issues of the national banking system at the current phase. I look into prospects of developing the area in question, considering existing positive and negative experience.
Methods Using a historical method and synthesis of scientific knowledge, I assessed and evaluated premises, methods and results of restructuring of Russia's banking system in 2014–2015 on the basis of data of the Central Bank of Russia, Deposit Insurance Agency.
Results I revealed the specifics of undertaking measures to restructure some national banking systems abroad, evaluated domestic practices so to examine the efficiency of restructuring measures at the current phase, considering the continuing banking and economic crisis. Russia's banking system was proved to have been restricted ineffectively within 2014–2015. The Central Bank of Russia used a part of methods it tested in 2008–2009, without using foreign expertise sufficiently.
Conclusions and Relevance I prove the need to ignite the national banking system restructuring bearing in mind that the economic crisis may aggravate. The crisis may be more devastating and governmental spending on restructuring may increase due to a protracted period of accumulation, keeping banking challenges on hold.


The modern theory of banking competition and competitive banking environment

Ezrokh Yu.S. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( ezroh@rambler.ru )

Journal: Finance and Credit, #6, 2015

Importance The article considers the theoretical basis of competition as an economic phenomenon that occurs in a competitive environment, characterized by the level of competition, which is, in its turn, characterized through the study of a competition degree.
     Objectives The paper studies real relations between the subjects of competition in the Russian banking market to form a theoretical and methodological basis of approaches and methods of empirical studies of the Russian competitive banking environment at the present stage.
     Methods Based on a synthesis of scientific knowledge contained in the works of leading economists in the field of study of banking competition and competitiveness, I offer a new approach to the study of the banking competition environment characteristic, and as a tool, I used deductive and inductive methods and other logical and analytical procedures. The paper theoretically substantiates the distinctions and inter-linkage between the economic categories of banking system, banking competitive environment and banking market, which allows discriminating the non-banking competition subject's category (leasing, factoring, credit, billing/payment non-bank credit organizations, public corporations with special tasks, etc.).
     Results The article separates the economic categories of banking competition and banking competition definitions that allows explaining the reasons for variability in the level of competition and consistently high competition intensity.
     Conclusions and Relevance I substantiate introduction of an economic category of competition as an evaluation measure of competition degree of all objective functions, and also research the extent of competition in the Russian banking environment.


The concept of controllable competitive banking environment

Ezrokh Yu.S. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( ezroh@rambler.ru )

Journal: Finance and Credit, #47, 2014

The article substantiates the concept of controllable competitive banking environment as a theory that describes a change in the real competitive condition of the modern Russian banking system taking into account its heterogeneity. I define theoretical bases of competitiveness of the national banking environment in conjunction with impact factors and generated effects (endogenous and exogenous). Based on the synthesis of scientific knowledge contained in the works of leading economists studying banking competition and competitiveness, I offer approaches to management of competitive environment. I prove the heterogeneity of the Russian banking environment and introduce the "basic terms of intrasegment competition" to describe it. The competition structure of the Russian banking market is very sophisticated. The banking market includes entities with partially monopolistic opportunities and pure competitors. In the study, I classify competition factors proceeding from the relation of the subject of initiation to the competitive environment and from direct or indirect inception and influence. I define the principles of management of banking environment competitiveness (efficiency, economic equity, high social responsibility). The study emphasizes that to reduce exclusive opportunities of State banks that are leaders of the industry, it is necessary to coordinate actions. An example of such coordinated actions is social redistribution of surplus profit, which is rationalized by the need to perform the social function by the State and by a possibility to smoothly change the competitive environment of the Russian banking system. I conclude that the lack of targeted State policy of managing the competitiveness of the national banking system may result in reduced competition, decreased efficiency and stability of the banking system.


An empirical study of the qualification and efficiency of top managers of Russian banks

Ezrokh Yu.S. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( ezroh@rambler.ru )

Karanova S.O. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( sunnysaniya@rambler.ru )

Journal: Finance and Credit, #39, 2016

Importance The article, for the first time in the Russian Federation, presents a comprehensive investigation of qualification characteristics like age, experience, education, academic degree, a ratio of remuneration and key performance indicators, the number of shared positions of top managers (members of Management Board and Board of Directors) of Russian credit institutions, based on a wide array of aggregated quantitative data.
Objectives The aim is to obtain indicators characterizing skills and performance of senior executives, to analyze them and develop proposals to improve the operating efficiency of domestic banks.
Methods The study rests on financial statements of fifty banks incorporated as open joint stock companies (PAO) and included in the Top 116 banks of the Russian banking system ranked by total assets as of Q2 2015, using traditional economic and mathematical methods.
Results We studied job descriptions of top managers of the banks and substantiated certain proposals, i.e. to make mandatory the public disclosure of information about top managers of all Russian banks; to limit the income of top managers of State-owned banks at the State level; to establish relationship between the income of top managers and financial results of banks; to introduce a differentiated bonus-awarding procedure for top managers using banks' own shares, etc.
Conclusions and Relevance The findings may be useful for the Bank of Russia to develop and strengthen the national banking system, and for credit institutions to increase their commercial efficiency.


The concept of manageable banking environment

Ezrokh Yu.S. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( ezroh@rambler.ru )

Journal: Financial Analytics: Science and Experience, #37, 2014

Importance In the article, I propose and substantiate the concept of the manageable banking environment as the theory describing the change of the real competitive status of the modern Russian banking system.
     Objectives The study aims to determine the theoretical fundamentals of the functioning of competitiveness of the national banking environment in conjunction with the factors of influence and the generated effects (intra-systemic and non-systemic ones).
     Methods In the paper, based on a synthesis of scientific knowledge contained in the works of the leading economists in the field of banking competition and competitiveness (197 publications have been analyzed), I propose the new concept of the banking competitive environment and approaches to its management.
     Results I prove the heterogeneity of the Russian bank environment, and in order to describe the competitive conditions I emphasize as follows: introduce the concept of the "basic conditions of the intra-segment competition"; prove the non-uniform characteristic of the Russian banking market competition, because along the subjects of the competition with the partially monopolistic capabilities, there are also the pure competitors; classify the competition factors, proceeding from the relation of the subject of initiation to the competitive environment, its direct or indirect emergence and influence. I also define the principles of the banking environment competitive management (efficiency, economic justice, high social responsibility), and set forth forcibly the need of application of the social concept of restriction of level of monopolistic possibilities of the particular subjects of the competition with the State participation in the capital. I demonstrate that the competition as characteristic of the banking environment is changing over time and it affects the economic agents.
     Conclusions and Relevance I came to a conclusion that the continued absence of the State policy aimed at the management of the competitive national banking system may reduce the competition, efficiency and banking system sustainability.


Approaches to assessing the competitive impact of non-banking subjects of competition on banking competition in Russia

Ezrokh Yu.S. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( ezroh@rambler.ru )

Journal: Financial Analytics: Science and Experience, #11, 2015

Importance The article substantiates the need for an analysis of the competitive impact of non-banking entities of competition on the Russian banking competitive environment. It defines the formation of a special methodological approach and conducting of approbation calculations within it.
     Objectives The aim of the study is to determine the present degree of an impact as the basis of decision-making in order to mitigate the negative consequences.
     Methods In this paper, based on the synthesis of scientific knowledge contained in the works of the leading economists in the field of banking competition and competitiveness, I propose and substantiate a methodological approach, which envisages the use of logical and empirical methods.
     Results I emphasize that approbation calculations within the generated methodical approach prove the availability of immaterial effect of leasing and factoring companies on the Russian banking competitive environment that is explained by insignificant market amounts of relevant services (compared with a bank lending segment) and the presence of a significant indirect banking impact on the relevant markets' entities. The impact of non-banking entities on stock exchange market is insignificant, because the banking sector predominately participates in bond market segment (bank loan substitute as the product), and due to the absence of small and medium-sized companies bonds, and also due to the small number of non-banking participants. A significant negative impact is conditioned upon functioning of microfinance institutions, which encourage switch-over of non-standard customers, which to a greater extent worsen their credit history, losing the prospects for attracting bank loans.
     Conclusions and Relevance I conclude about the need for taking measures to restrict the activities of microfinance institutions in order to minimize the negative effect on the Russian banking competitive environment.


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