Теоретичні та прикладні питання економіки. Збірник наукових праць.

Випуск 2 (51)

УДК 336.76

JEL E 44, F 21, G 15, G 21

ORCID ID 0000-0002-8256-5587

DOI https://doi.org/10.17721/tppe.2025.51.2

Alekseyenko L.M., Dr. in economics,

Professor West Ukrainian National University

olecolm@gmail.com

TRANSFORMATION OF CAPITAL MARKETS:

FINANCIAL AND INNOVATIVE MECHANISMS AND STRATEGIES OF THE RISK MANAGEMENT IN BANKING

The article discusses the transformation of capital markets in the context of globalization with a focus on financial and innovative mechanisms and risk management strategies in banking. It is established that the international capital market is devoid of regulatory barriers and ensures the financial security of the countries, but is vulnerable to geopolitical challenges. The purpose of the article is to substantiate the concept of financial and innovative Capital Market Union (CMU) mechanisms with a focus on risk management in banks for market transformation. EU enlargement, liberalization, and the formation of the CMU are the basis for economic development. The research focuses on the importance of banking, support for the digital euro, and the ECB's regulation of innovation in TARGET Services. It is established that in euroized economies, monetary transmission affects capital markets, and it is advisable to use the NLS indicator and monitor stock price manipulation to establish price leadership. The transformation of capital markets requires the modernization of the regulatory framework and the harmonization of European standards. The author identifies capital market trends that actualize the feasibility of conservative lending due to volatility, scaling up repo agreements with the EGB, and the use of data-driven analytics. It is argued that in the short term, risk management strategies and initiatives to form the EU CMU should focus on three main areas: savings and investment, business and entrepreneurship, and market surveillance. It is determined that in the European capital markets, when forming financial and innovative CMU mechanisms, it is necessary to consider the features of product diversification and market structure in capital markets, where the focus on private equity and technology helps to optimize margins. The author characterizes the strategic goals of CMU: support for innovation, transformation financing, scaling savings, diversification, and convergence. Risk management strategies should use unified products, DLT, securitization, and venture capital financing. It has been established that updated approaches to the development of the financial sector of Ukraine will contribute to the modernization of national capital markets, taking into account the dimensions of European integration.

Keywords: capital markets, regulator, innovation, stock market, governance, banking institution, fintech, financial services market, asset management, investment, emergency, security, international standards.

Full Text: PDF

DOI: https://doi.org/10.17721/tppe.2025.51.2