Urgent issues of business ethics in the banking industry of Ukraine

Authors

  • Дмитрий Анатольевич Лукин Ukrainian Academy of Banking of the National Bank of Ukraine, Petropavlіvska str. 57, 40030, Sumy, Ukraine https://orcid.org/0000-0002-1276-8055
  • Татьяна Владимировна Мазыло Ukrainian Academy of Banking of the National Bank of Ukraine, Petropavlіvska str. 57, 40030, Sumy, Ukraine https://orcid.org/0000-0002-8775-4408

DOI:

https://doi.org/10.15587/2312-8372.2015.44744

Keywords:

business ethics, bank, economic culture, ethical standards, social responsibility

Abstract

The paper considers necessity of raising ethical standards in the Ukrainian banking industry. In the context of the world community analyzing the consequences of deep financial crisis, time has come to reconsider the market paradigm in terms of morale and responsibility for its economic activity.

The article analyses current state of Ukrainian banking sphere in terms of improving ethic standards of banking business. Main violations of business ethics on the part of banking institutions, bank depositors and loaners are identified. Significant attention is paid to the analysis of objective and mental factors of low economic culture of Ukrainian population.

The authors define main directions of improving ethic standards of banking business as well as development of new forms of commercial banks, which raise confidence in financial system. The government’s role in implementing higher ethical standards into banking business and raising financial and ethical awareness of population is also under study. It is assumed that the complex of measures of perfecting banking sphere presented in the paper would facilitate effective combination of market principles of doing business and the demand for morale and social responsibility.

Author Biographies

Дмитрий Анатольевич Лукин, Ukrainian Academy of Banking of the National Bank of Ukraine, Petropavlіvska str. 57, 40030, Sumy

Candidate of Economic Sciences, Associate Professor

Department of Banking

Татьяна Владимировна Мазыло, Ukrainian Academy of Banking of the National Bank of Ukraine, Petropavlіvska str. 57, 40030, Sumy

Candidate of Economic Sciences, Associate Professor

Department of Banking

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Published

2015-05-28

How to Cite

Лукин, Д. А., & Мазыло, Т. В. (2015). Urgent issues of business ethics in the banking industry of Ukraine. Technology Audit and Production Reserves, 3(5(23), 94–98. https://doi.org/10.15587/2312-8372.2015.44744

Issue

Vol. 3 No. 5(23) (2015): Economics and management of enterprise. Development of the productive forces and regional economy

Section

Problems of Macroeconomics and Socio-Economic Development: Original Research

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Copyright (c) 2016 Дмитрий Анатольевич Лукин, Татьяна Владимировна Мазыло

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