Transformation of Household Credit Behavior in the Conditions of Digitalization of the Financial Services Market
محورهای موضوعی : Design of Experiment
Maksym Dubyna
1
(National University "Chernihiv Polytechnic", Chernihiv, Ukraine)
Artur Zhavoronok
2
(National University "Chernihiv Polytechnic", Chernihiv, Ukraine)
Nataliia Kudlaieva
3
(National University "Chernihiv Polytechnic", Chernihiv, Ukraine)
Inna Lopashchuk
4
(Yuriy Fedkovych Chernivtsi National University, Chernivtsi, Ukraine)
کلید واژه: Digitalization, financial behavior, Financial Services Market, Credit Behavior, Financial Institution,
چکیده مقاله :
Within the article, the impact of modern digitalization processes on changing household credit behavior is considered. Much attention is paid to defining the essence of digitalization and exploring the features of its impact on the financial services market. Accordingly, the content of household credit behavior and its individual models are examined. This behavior is proposed to be considered as a process of interaction between entities engaged in joint business activities with financial institutions regarding the receipt of temporary financial resources from banking and non-banking institutions with subsequent use to meet their own needs on terms of return, payment, expediency and security. Within the article, basic features that are inherent in both the classic model of obtaining credit services by clients of financial institutions and the new model of lending, which is formed today as a result of the impact of digitalization processes, are defined and systematized. Study of the results of the analysis of current trends in the development of the financial services market made it possible to identify main perspective directions for further transformation of credit household behavior, the process of lending and changing the paradigm of lending to financial institutions.
Akerlof, G.A., & Shiller, R. J. (2015). Phishing for Phools. The Economics of Manipulation and Deception. Princeton: Princeton University Press.
Antikainen, M., Uusitalo, T., & Kivikytö-Reponen, P. (2018). Digitalisation as an enabler of circular economy. Procedia CIRP, 73, 45–49. 27. Eurofound (2018). Automation, digitalisation and platforms: Implications for work and employment, Publications Office of the European Union, Luxembourg.
Azarenkova, G., Shkodina, I., Samorodov, B., Babenko, M., & Onishchenko, I. (2018). The influence of financial technologies on the global financial system stability. Investment Management and Financial Innovations, 15 (4), 229–238.
Babenko, V., Kulczyk, Z., Perevozova, I., Syniavska, O., & Davydova, O. (2019). Factors of Development of International e-Commerce in the Context of Globalization. CEUR Workshop Proceedings, 2422, 345–356. URL: http://ceur-ws.org/Vol-2422/paper28.pdf
Berisha-Shaqiri, A., & Berisha-Namani, M. (2015). Information Technology and the Digital Economy. Mediterranean Journal of Social Sciences, 6 (6), 78-83.
Bergner, R. (2011). What is behavior? And so what? New Ideas in Psychology, 29, 147–155.
Bicard, S., Bicard, F., & the IRIS Center. (2012). Defining behavior. URL: http://iris.peabody.vanderbilt.edu/wp-content/uploads/2013/05/ICS-015.pdf
Bilovodska O., Golysheva I., Gryshchenko O., Strunz H. (2017). Theoretical and practical fundamentals of scientific and educational projects: a case of Ukraine. Journal of International Studies, 10(2), 119–128. doi:10.14254/2071-8330.2017/10-2/8.
Gryshchenko I., Chubukova O., Bilovodska O., Gryshchenko O., Melnyk Yu. (2020). Marketing-oriented Approach to Evaluating the Strategy of Distribution Management for Innovative Products in Logistics. WSEAS Transactions on Environment and Development, 16 (37), 371-383. https://doi.org/10.37394/232015.2020.16.37.
Burciu, A., & Kicsi, R. (2015). Knowledge as a distinctive resource of competitive advantage, Ecoforum Journal, 4. Retrieved from http://ecoforumjournal.ro/index.php/eco/article/view/21
Chernadchuk, V., Sukhonos, V., & Shkolnyk, I. (2017). The notion and content of financial system in the context of financial law of Ukraine. Problems and Perspectives in Management,15(2-1), 234-245.
Chmutova, I., Vovk, V., & Bezrodna, O. (2017). Analytical tools to implement integrated bank financial management technologies. Economic Annals-XXI, 163(1-2(1)), 95–99.
Gobble, M. (2018). Digitalization, Digitization, and Innovation. Research-Technology Management, 4, 56-59.
Courchane, M., & Zorn, P. (2008). Consumer Credit Literacy: What Price Perception. Journal of Economics and Business, 60, 125–138.
Doan, T., Gibson, J. & Holmes, M. (2014). Impact of Household Credit on Education and Healthcare Spending by the Poor in Peri-Urban Areas, Vietnam. Journal of Southeast Asian Economies, 31 (1), 87–103.
Eurofound (2018). Automation, digitalisation and platforms: Implications for work and employment, Publications Office of the European Union, Luxembourg.
Gilster, P. (1997). Digital literacy.New York: Wiley Computer Publications.
Grigoraș-Ichim, C.E., Cosmulese, C.G., Savchuk, D., & Zhavoronok, A. (2018). Shaping the perception and vision of economic operators from the Romania – Ukraine – Moldova border area on interim financial reporting. Economic Annals-XXI, 173(9-10), 60–67.
Ivashchenko, A., Britchenko, I., Dyba, M., Polishchuk, Ye., Sybirianska, Yu., & Vasylyshen, Yu. (2018). Fintech platforms in SME’s financing: EU experience and ways of their application in Ukraine. Investment Management and Financial Innovations, 15(3), 83-96.
Kaiser, T., & Menkhoff, L. (2017). Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When? World Bank Economic Review. https://doi.org/10.1596/1813-9450-8161.
Kahneman, D. (2011). Thinking, fact and slow. NY: Farrar, Straus and Giroux.
Kizima, T. (2019). Kredytna povedinka domohospodarstv: strukturno-analitychnyi aspekt [Household credit behavior: structural and analytical aspect].Svit finansiv – The world of finance, 1 (58), 7–18.
Mints, O., Marhasova, V., Hlukha, H., Kurok, R., & Kolodizieva, T. (2019). Analysis of the stability factors of Ukrainian banks during the 2014-2017 systemic crisis using the Kohonen self-organizing neural networks. Banks and Bank Systems, 14(3), 86-98.
Rachinger, M., Rauter, R., Müller, C., Vorraber, W., & Schirgi, E. (2019). Digitalization and its influence on business model innovation. Journal of Manufacturing Technology Management, 30 (8), 1143–1160.
Ranjula, B. (2007). The demand and supply of credit for households. Applied Economics, 39 (21), 2681–2692.
Sági, J., & Lentner, C. (2019). Post-crisis trends in household credit market behavior: evidence from Hungary (Literature review). Banks and Bank Systems, 14(3), 162–174.
Shkarlet, S., & Dubyna, M. (2016). Osoblyvosti zastosuvannia kohnityvnoho pidkhodu do identyfikatsii sutnosti rynku finansovykh posluh [Peculiarities of the cognitive approach application to the essence identification of the financial services market]. Ekonomichnyi chasopys – Economic Annals-XXI, 3-4 (2), 70–74.
Shkarlet, S., Dubyna, M., Vovk, V., & Noga, M. (2019). Financial service markets of Eastern Europe: a compositional model. Economic Annals-XXI, 176 (3-4), 26–37.
Sim, S., & Lee, S. (2020). The cyclical behavior of household and corporate credit in emerging economies. Emerging Markets Review, 100724. https://doi.org/10.1016/j.ememar.2020.100724
Thaler, R.H. (2015). Misbehaving. The making of Dehavioral Economics. NY, London: WW Norton & Company.
Yoo, Y., Lyytinen, K., Thummadi, B. V., & Weiss, A. (2010). Unbounded innovation with digitalizaiton: A case of digital camera. Annual Meeting of the Academy of Management, 1-41.
Zveryakov, M., Kovalenko, V., Sheludko, S., & Sharah, E. (2019). FinTech sector and banking business: competition or symbiosis? Economic Annals-XXI, 175(1-2), 53–57.
