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Analysis of Financial Outsourcing Management in Regional Environmental Systems

Author

Listed:
  • Viktor Koval

    (Department of Business and Tourism Management, Izmail State University of Humanities, 68600 Izmail, Ukraine)

  • Piotr Olczak

    (Mineral and Energy Economy Research Institute of the Polish Academy of Sciences, 31-261 Krakow, Poland)

  • Mira Hakova

    (Department of Tourism and Hotel and Restaurant Business, Dnipro Humanitarian University, 49033 Dnipro, Ukraine)

  • Mykhailo Bilyi

    (Finance Department, Vasyl Stefanyk Precarpathian National University, 76000 Ivano-Frankivsk, Ukraine)

  • Dmitry Kretov

    (Banking Department, Odesa National Economic University, 65000 Odesa, Ukraine)

  • Olga Laktionova

    (Department of Finance and Banking, Pryazovskyi State Technical University, 49000 Dnipro, Ukraine)

Abstract

This study contributes to the creation of a model of effective economic relations by the organizer—the outsourcer between the participants of the regional ecological financial system—financial services clients, creditors, investors, insurers, and municipalities. This study proposes to reduce the financial limitations of business entities that are environmentally active by forming a regional ecological financial system, organized by an outsourcer for the provision of financial services. The outsourcer attracts financial instruments (FIs), including special environmental financial instruments (GFIs) and financial management mechanisms (FMs), to accelerate capital turnover. When calculating the financing models, the well-known concept of the innovation life cycle was used. Research on the relationship between variables “revenues from environmental taxation by country” and “the sum of all environmental revenues” in the EU27 budget for the period 2012–2021 made it possible to determine the Pearson coefficient, according to which countries were distributed according to the degree of connection strength according to the Chaddock scale: 32% of countries had a very high connection (0.9–1.0) during the study period, and 53% of EU countries had a noticeable and moderate connection (0.7–0.9). The proposed method for studying the relationship can be useful in managing financial flows attracted to the ecological financial system by an outsourcer.

Suggested Citation

  • Viktor Koval & Piotr Olczak & Mira Hakova & Mykhailo Bilyi & Dmitry Kretov & Olga Laktionova, 2023. "Analysis of Financial Outsourcing Management in Regional Environmental Systems," Sustainability, MDPI, vol. 15(15), pages 1-24, August.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:15:p:11966-:d:1210072
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    References listed on IDEAS

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