Analysis of Financial Outsourcing Management in Regional Environmental Systems

Viktor Koval, Piotr Olczak (), Mira Hakova, Mykhailo Bilyi, Dmitry Kretov and Olga Laktionova
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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

Sustainability, 2023, vol. 15, issue 15, 1-24

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.

Keywords: regional financial systems; environmental projects; financial services outsourcer; greenhouse gases; environmental taxes (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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