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VOL. XLVII, 4 SECTIO H 2013
Department of Accounting and Analysis, Lviv Polytechnic National University
92/2'<0<5&+<%$-, OLEKSANDRA TESAK
Financial relationships between commercial banks
and industrial enterprises: the principles of organizing and risks
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6áRZDNOXF]RZH stosunki finansowe,EDQNLNRPHUF\MQHSU]HGVLĊELRUVWZDSU]HP\VáRZHU\]\NR
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To ensure the effectiveness of the enterprise, it must have sufficient amount of ILQDQFLDOUHVRXUFHVDQGUHOLDEOHVRXUFHVRIWKHLUUHFHLYLQJLQFDVHRIDGGLWLRQDOQHHGV One of the most popular sources of funding for long-term development programs as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each relationship may differ significantly. In particular, it will depend on the market position and interests of parties of the relationship, their credit policy, the sharpness RIQHHGVLQFRRSHUDWLRQGHSHQGHQFHSDUWLHVIURPRWKHUVXEMHFWVDQGVRRQ7RGD\ WKHUHDUHDQXPEHURIFDVHVRIQRWUHWXUQLQJFUHGLWVE\ERUURZHUVRUQRQSD\PHQWRI SHUFHQWRIWKHLUXVH7KHUHDVRQIRUWKLVFDQEHWKHEDQNLQJLQVWLWXWLRQVDVDUHVXOWRI
LQDFFXUDWHHVWLPDWHVRIWKHERUURZHU¶VFUHGLWZRUWKLQHVVXQUHDVRQDEOHLQWHUHVWUDWHV and tough sanctions set too high, not paying enough attention to risk management RIWKHUHODWLRQVKLSZLWKWKHERUURZHUDWWKHVWDJHRILQLWLDWLRQDQGGXULQJDOOFUHGLW-ing term (today often activation of appropriate management action occurs only after WKLVSHULRG DQGRWKHUV7KHUHDUHDOVRVLWXDWLRQVLQZKLFKFRPPHUFLDOEDQNVGRQRW fully give loans to enterprises under signed contracts or too late, change unilaterally their conditions and so on. Often the cause of such conflicts is the wrong choice of FRPPHUFLDOEDQNDQGQRWLPSOHPHQWDWLRQPDQDJHPHQWRIULVNUHODWLRQVE\ERUURZHU 5HOHYDQFHRIWKHSUREOHPLVJURZLQJWKURXJKWKHODUJHVFDOHRIWKHVHUHODWLRQVKLSV ±DWWKHHQGRI0DUFKEDODQFHVRIORDQVJUDQWHGWRQRQILQDQFLDOFRUSRUDWLRQV DUHELOOLRQ8$+17KDWLVDKLJKQHHGIRUTXDOLILHGPDQDJHPHQWRIULVNUHODWLRQV ERWKIURPEDQNLQJLQVWLWXWLRQVDQGERUURZLQJHQWHUSULVHV
This study2 LQGLFDWHGWKDWQHJDWLYHHYHQWV LQFOXGLQJORDQGHIDXOW LQWKHUHODWLRQ- VKLSRIWKHEDQNZLWKRQHRUPRUHERUURZHUVRIVXEVWDQWLDOVXPVRIPRQH\FRXOGDI-IHFWWKHJURZWKRIWKHULVNRIEDQN¶VUHODWLRQVKLSVZLWKDOOFXVWRPHUV ERWKERUURZHUV DQGGHSRVLWRUVIRUGHSRVLWDFFRXQWV GXHWRLQDELOLW\WRSHUIRUPLWVREOLJDWLRQVE\WKH EDQNGXHWRODFNRIWKHQHFHVVDU\ILQDQFLDOUHVRXUFHV*6LGRU3 emphasizes that the HQWHUSULVHVLQVHWWLQJXSDQGGHYHORSLQJUHODWLRQVKLSVZLWKEDQNLQJLQVWLWXWLRQVPXVW UHPHPEHUWKDWLQDVVHVVLQJWKHULVNRIWKHUHODWLRQVKLSZLWKWKHERUURZHUWKH\VKRXOG WDNHLQWRDFFRXQWDQXPEHURIFULWHULDLQFOXGLQJ UHSXWDWLRQFDSDELOLWLHV LQFOXGLQJ WKHDELOLW\WRJHWWKHIORZRIILQDQFLDOUHVRXUFHVIURPWKHLUDFWLYLWLHVDQGXVHWKHP HIIHFWLYHO\ FDSLWDO FRQGLWLRQV RI PDFUR DQG PHVRHQYLURQPHQW EDLO %HVLGHV LW LVQHFHVVDU\WRUHPHPEHUWKDWDWULVNUHODWLRQVKLSVLJQLILFDQWO\DIIHFWVDGKHUHQFHWR WKHSULQFLSOHVRIFRRSHUDWLRQWKDWSXWIRUZDUGE\FUHGLWVWUXFWXUHLQSDUWLFXODUWKH principles of maturity, task orientation, etc4.
The study5 noted that the level of creditworthiness of enterprises has a significant LQIOXHQFHRQWKHULVNVRIUHODWLRQVKLSVRIVWXG\HQWHUSULVHVZLWKFRPPHUFLDOEDQNV GHWHUPLQHGE\XVLQJFODVVLILFDWLRQPRGHOVRUPRGHOVRIFRPSOH[DQDO\VLV7KLVDOVR LQGLFDWHV WKDW GRPHVWLF FRPPHUFLDO EDQNV IUHTXHQWO\ WR DVVHVV D ERUURZHUV FUHG-LWZRUWKLQHVV DUH XVLQJ ILQDQFLDO UDWLRV VXFK DV FRYHUDJH UDWLR DQG RWKHU OLTXLGLW\ UDWLRVWKHUDWHRISURILWDELOLW\VDOHVUDWLRRIDXWRQRP\DQGVXIILFLHQF\RIZRUNLQJ FDSLWDOWXUQRYHURIUHFHLYDEOHVDQGSD\DEOHVHWF+RZHYHUPDQ\RIWKHPHWKRGVIRU determining these parameters of financial condition have significant shortcomings
1 6WDWLVWLFDOLVVXHVRIWKH1DWLRQDO%DQNRI8NUDLQHLQ0DUFK 0RGHRIDFFHVV KWWS ZZZEDQNJRYXD 2 9RUREMRYD2,Areas of concentration of major risk lending in Ukraine. “Finance, %anking, IQYHVWPHQW
6FLHQWLILF%XOOHWLQ”, 2009, no 1, pp. 6–13.
3 Sidor G., Evaluation of credit risk and how to protect it, “Economic Analysis”, 2008, no 2, pp. 155–157. 4 %XWHQNR 2, The financial and credit relations in the economic system, “6FLHQWLILF %XOOHWLQ RI
&KHUQLYWVL8QLYHUVLW\ (FRQRPLFV”, 2008, no 368–369, pp. 157–160.
5 (SLIDQRY $2 'HKWMDU 1$ 0HOQ\N 70 6KNROMQ\N ,2 Estimation of credit and investment
attractiveness of entities 0RQRJUDSK(GLWHGE\$2(SLIDQRY6XP\ 8$%61%82007, 286.
WKDWKDYHEHHQDQDO\]HGLQVHYHUDOSXEOLFDWLRQV6,7. There are many deficiencies in the methodology for determining another important indicator – the level of threat occur-UHQFHRIEDQNUXSWF\4XHVWLRQVUHODWHGWRWKHDVVHVVPHQWDQGPDQDJHPHQWRIEDQNLQJ risks are highly relevant today despite the presence of many works8–148RQWKLVVXEMHFW
However are not structured principles of financial relationships to involve financial resources and isn’t insufficiently developed tools evaluation of risk relationships in-GXVWULDOHQWHUSULVHZLWKFRPPHUFLDOEDQNVDQGWKHLQIOXHQFHIDFWRUVRQLWVFKDQJHV
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In order that financial relationships of industrial enterprise with commercial EDQNVWRLQYROYHILQDQFLDOUHVRXUFHVZHUHRSWLPDORQHPXVWIROORZVXFKSULQFLSOHV
– ILQDQFLDOLQGHSHQGHQFH±WKHILQDQFLQJRIWKHHQWHUSULVHGRHVQRWOHDGWRVXE-VWDQWLDOILQDQFLDOGHSHQGHQFHRQFUHGLWRUVDQGUHGXFLQJLWVILQDQFLDOVWDELOLW\ – FRPSOH[LW\±PRVWUDWLRQDOFRPELQDWLRQRIDYDLODEOHVRXUFHVRIILQDQFLDOUHVRXU-ces to fully support them in all areas related to the chosen model of enterprise development; – HIILFLHQF\RIXVH±ILQDQFLDOUHVRXUFHVVKRXOGEHXVHGLQDFFRUGDQFHZLWKWKH SXUSRVHDQGSODQQHGEXGJHWRIWKHHQWHUSULVHDQGDOVRWDNLQJLQWRDFFRXQWSR-VVLEOHIXWXUHFKDQJHVLQWKHLQWHUQDODQGH[WHUQDOHQYLURQPHQWRIWKHHQWHUSULVH – SURILWDELOLW\±ILQDQFLDOUHVRXUFHVVKRXOGEHLQYROYHGLQWKHPRVWIDYRXUDEOH FRQGLWLRQVIRUHQWHUSULVHRIDOOSRVVLEOHRSWLRQV WKHVPDOOHVWLQWHUHVWRQORDQV WKHELJJHVWWLPHRIWKHLUUHWXUQH[WUDFUHGLWHWF
– EDODQFH ± IORZ RI ILQDQFLDO UHVRXUFHV VKRXOG EH PXWXDOO\ DJUHHG ZLWK WKHLU spending or return certain creditors in the time aspect in terms of stages of economic development of the enterprise;
6 Melnyk O.G., Contradictions of the national legal framework in the area of economic diagnostics of
enterprises, “$FWXDO3UREOHPVRI(FRQRP\”, 2010, no 9, (111 SS. 147–158.
7 &K\EDM90Disadvantages tools of economic analysis and ways of their elimination: scientific and
practical aspects, ³$FWXDO3UREOHPVRI(FRQRP\´, 2012, no , pp. 277–290.
8 $OODQ - %RRWK 3 9HUUDOO 5 :DOVK ' The Management of Risks in Banking ³%ULWLVK $FWXDULDO
Journal”, 1998, vol. 4, pp. 707–802.
9 &HEHQR\DQ 6 6WUDKDQ 3 Risk Management, Capital Structure and Lending at Banks, “Journal of
%DQNLQJDQG)LQDQFH´, 2004, no 28, pp. 19–43.
10 Dimakos X., Aas K., Integrated Risk Modelling, “Statistical Modelling”, 2004, no 4, pp. 265–277. 11 %R\G - 1LFROR * The Theory of Bank Risk Taking and Competition Revisited. “The Journal of
Finance”, 2005, no 3, pp. 1329–1343.
12 Krishnan C., Ritchen P., Thomson J., Monitoring and Controlling Bank Risk Does Risky Debt Help?
“The Journal of Finance”, 2005, no 1, pp. 343–378.
13 Siemiska E., Finansowa kondycja firmy: metody pomiaru i oceny, Poltext, Warszawa 2003, p. 152. 14 Zaleska M., ,GHQW\ILNDFMDU\]\NDXSDGáRĞFL SU]HGVLĊELRUVWZDLEDQNX, Difin, Warszawa 2002, p. 104.
– UHVHUYH±DYDLODELOLW\RIUHVHUYHIXQGVHQWHUSULVHLQFDVHRIXQDQWLFLSDWHGFRVWV associated with the development of enterprises, and foreign reserve funding; –
DVVXUHGQHVV±DYDLODELOLW\RIDSSURSULDWHVDIHJXDUGVLQFRQWUDFWVEDQNVWRIRO-ORZFHUWDLQSUHFRQGLWLRQVIRUJUDQWLQJORDQVDQGQRWWRYLRODWHLWVREOLJDWLRQV regardless of any situations or reasons;
– priority – the presence of clear delineation of priorities involvement and use of financial resources to finance the processes associated with the development of the enterprise;
– VHFXULW\±EDODQFHGVHOHFWLRQPHWKRGDQGSODFHRIVWRUDJHRIILQDQFLDOUHVRXU-FHVDFFXPXODWHGWRILQDQFHSURMHFWVDQGSURJUDPVDVVRFLDWHGZLWKWKHFKRVHQ PRGHORIGHYHORSPHQW LQWKHFXUUHQF\RQGHSRVLWDFFRXQWVLQVHFXULWLHVHWF To improve the process of financing long-term development of industrial enter-SULVHVRQHQHHGVWRSHUIRUPWKHIROORZLQJVWHSV DOZD\VFRQGXFWWKHVHDUFKIRUQHZ own and involved in different conditions financial resources; continuously monitor the situation related to the compliance schedule of income and expenditure of finan- FLDOUHVRXUFHVDQGUHVSRQGTXLFNO\WRYDULDWLRQVLQWKHSHULRGVSHFLILHGLQLW FDUH-IXOO\H[DPLQHFODULW\RIVWDIIFRPSOLDQFHUHVSRQVLELOLWLHVLQYROYHGLQRSWLPL]LQJWKH structure of financial resources and managing their use; in time analyze the cause of the loss of financial resources and prevent such incidents in the future and so on.
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7KHULVNRIUHODWLRQVKLSVDWWKHPDFUROHYHODIIHFWVDVLJQLILFDQWQXPEHURIIDFWRUV LQFOXGLQJ WKHUHOLDELOLW\RIWKHEDQNLQJV\VWHPRIWKHFRXQWU\ GLVFRXQWUDWHRIWKH 1%8PRQHWDU\DQGFUHGLWSROLF\RIWKH1%8LQIODWLRQWKHPDFURHFRQRPLFVLWXDWLRQ in the country and so on. $WWKHOHYHORIFRXQWHUSDUW\EDQNVRILQGXVWULDOHQWHUSULVHVLV WRSURYLGHVXFKIDFWRUVDVLQWHUHVWUDWHVRQORDQVRIVSHFLILFEDQNVFXUUHQF\OHQGLQJ FUHGLWSROLF\RIEDQNVWRFHUWDLQWHUPVRIWKHORDQ LQFOXGLQJEDLOWLPLQJHWF DQG so on. However, the complexity of these relationships primarily occurs due to com-PHUFLDOEDQNVHVWDEOLVKLQJXQIDYRXUDEOHFUHGLWFRQGLWLRQVZKLFKLQGXVWULDOHQWHUSULVHV WKURXJKWKHKRSHOHVVVLWXDWLRQKDYHWRPDNHEXWYHU\KDUGWRSHUIRUPRQDVWLPHO\ UHSD\PHQWRIWKHORDQDQGWKHSD\PHQWIRULWVXVHXQUHDVRQDEO\KLJKLQWHUHVWUDWHV
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7KHULVNRIH[LVWLQJUHODWLRQVKLSVRILQGXVWULDOHQWHUSULVHVZLWKFRPPHUFLDOEDQNV is a multifaceted category, and therefore for its evaluation one should use indicators15 ZKLFKZRXOGFKDUDFWHUL]HLWIURPGLIIHUHQWDQJOHVLQSDUWLFXODULQWKHDUHDV
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1. $OODQ-%RRWK39HUUDOO5:DOVK'The Management of Risks in Banking³%ULWLVK$FWXDULDO Journal”, 1998, vol. 4.
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8. (SLIDQRY$2'HKWMDU1$0HOQ\N706KNROMQ\N,2Estimation of credit and investment attractiveness of entities: Monograph(GLWHGE\$2(SLIDQRY6XP\ 8$%61%8 9. Krishnan C., Ritchen P., Thomson J., Monitoring and Controlling Bank Risk: Does Risky Debt
Help?, “The Journal of Finance”, 2005, no 1.
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11. Sidor G., Evaluation of credit risk and how to protect it, “Economic Analysis”, 2008, no. 2, pp. 155–157. 12. Siemiska E., Finansowa kondycja firmy: metody pomiaru i oceny, Poltext, Warszawa 2003. 13. 6WDWLVWLFDOLVVXHVRIWKH1DWLRQDO%DQNRI8NUDLQHLQ0DUFK0RGHRIDFFHVV KWWS ZZZ
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14. 9RUREMRYD 2, Areas of concentration of major risk lending in Ukraine ³)LQDQFH %DQNLQJ ,QYHVWPHQW 6FLHQWLILF%XOOHWLQ´ QRSS±
15. Zaleska M., ,GHQW\ILNDFMDU\]\NDXSDGáRĞFL SU]HGVLHELRUVWZDLEDQNX, Difin, Warszawa 2002.
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