ФОРМИРОВАНИЕ ЭКОСИСТЕМНЫХ ФИНАНСОВЫХ КОНГЛОМЕРАТОВ (НА ПРИМЕРЕ КИТАЯ)

Translated title of the contribution: THE CREATION OF ECOSYSTEM FINANCIAL CONGLOMERATES: CASE OF CHINA

Research output: Contribution to journalArticlepeer-review

Abstract

This research examines a new type of financial conglomerate evolution - ecosystem financial conglomerate on the example of the insurance segment of the Chinese financial market. The main prerequisites for the emergence of such a business model were: financial convergence in the global financial market and the development of digital technologies. Main research areas: identification of financial convergence as the basis for an ecosystem approach; determining the stages of creation for financial ecosystems in the global financial market; identifying the risks for financial ecosystems and modifying their regulation. Based on the methods of qualitative and quantitative analysis and the case study method, four stages of this process were identified. The contribution of the research: define the place of EFC in the overall evolution of financial institutions, and to further develop the theoretical foundations of financial convergence. It is shown that the new ecosystem business model of a financial conglomerate is an obvious response of financial markets to the technological expansion and changing consumer needs. We propose periodization of the evolution for the ecosystem approach and illustrate it on the basis of the Chinese financial market In general, the ecosystem approach in global financial markets represents a new paradigm shift and needs further research.
Translated title of the contributionTHE CREATION OF ECOSYSTEM FINANCIAL CONGLOMERATES: CASE OF CHINA
Original languageRussian
Pages (from-to)3-13
Number of pages11
JournalСТРАХОВОЕ ДЕЛО
Issue number5 (326)
StatePublished - 2020

Keywords

  • financial convergence
  • FINANCIAL CONGLOMERATE
  • FINANCIAL ECOSYSTEM
  • FINANCIAL MARKET
  • China

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